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Bahrain

space greenhouse gas Satellite

Spacecraft that spots Gulf gases wins extra funding

A Bahraini-British project to develop a spacecraft that will monitor Gulf greenhouse gas emissions from space has been awarded a further £1.4 million ($1.8 million) grant by the UK Space Agency. The partnership between the Bahrain National Space Science Agency, YBA Kanoo Group in Manama, and the University of Leicester and Geospatial Insight of Birmingham […]

The free trade agreement was signed in May 2022 by the two countries' economy ministers: Orna Barbivai of Israel and the UAE's Abdulla bin Touq Al Marri

Israel’s trade with Arab countries up 16% in 2023

Trade between Israel and the seven Arab countries that have normalised relations with the Jewish state broke records in 2023, exceeding $4 billion, up 16 percent from 2022, according to a report. Bilateral trade among the nations decreased by only 4 percent following the outbreak of the war in Gaza in October, from $937 million […]

Architecture, Building, Office Building

Al Salam Bank to acquire KFH’s Bahraini unit

Al Salam Bank, a sharia-compliant lender in Bahrain, has signed definitive agreements to acquire the entire stake in Kuwait Finance House’s (KFH) subsidiary in the kingdom. The transaction is subject to regulatory approvals, the bank said in a statement to the Bahrain Bourse. No details were given on the deal. In November 2023, Al Salam […]

Bahrain titanium

Bahrain enters $27bn titanium market

A $200 million manufacturing plant is planned in Bahrain to produce titanium products as part of the kingdom’s ambitions to expand its industrial sector. Edamah, the real estate arm of the sovereign wealth fund Mumtalakat, has signed a 25-year lease agreement with Bahrain Titanium, a subsidiary of the Swiss company Interlink Metals & Chemicals, for […]

Visitors shop in the souq in Manama, Bahrain. The government wants to encourage more youth into work

Bahrain launches minimum wage fund to bolster youth

Lawmakers in Bahrain are to spend over BD200 million ($500 million) to lift the minimum wage of the kingdom’s citizens.  The government hopes it will encourage more youth into the working world and stimulate the country’s economy. The initiative, run by Bahrain’s Labour Fund, which is also known as Tamkeen, received unanimous approval from the […]

Bank ABC Egypt's merger with Blom will double its number of branches and ATMs in the country

Egyptian banks complete merger but M&A activity falls

Bank ABC Egypt has announced the completion of its merger with Blom Bank Egypt, which aims to treble its market share in the North African country. The integration has doubled the size of the Egyptian network of branches and ATMs of Bahrain-based Bank ABC. It follows Bank ABC’s acquisition of a 99.5 percent stake in […]

McLaren, supercar, car, Wheel

Bahraini fund takes control of British carmaker McLaren

Bahrain’s state-backed sovereign wealth fund has taken full ownership of McLaren Group following the completion of the latter’s capital reorganisation plan. Mumtalakat Holding has become the sole shareholder in McLaren following the conversion of all preference shares into ordinary shares, the British carmaker said in a statement. “Mumtalakat’s continued commitment to McLaren through this deal […]

A US M1A2 Abrams tank on exercises. Bahrain's order for 50 tanks has been approved by the US State Department

US approves $2bn military order for Bahrain

The US has approved a $2 billion order from Bahrain for advanced battle tanks and other military equipment as the kingdom continues to ramp up its defence spending. Although the deal is still to be ratified by Congress, the US State Department revealed it is ready to sell 50 M1A2 Abrams tanks to Bahrain, which […]

Investcorp Corsair will continue to focus on transportation, logistics and associated infrastructure subsectors

Investcorp to strengthen US presence with $526m venture

Bahrain’s alternative asset manager, Investcorp, has unveiled a new $526 million venture to acquire industrial real estate assets in the United States. The venture has been set up with two unidentified sovereign wealth funds, mirroring a similar strategy launched in November 2021. The three entities have committed over $1 billion of investment over the past […]

Bahrain's Bapco signed the Cop28 oil and gas decarbonisation charter, aiming to achieve net-zero operations by 2050 and end routine flaring by 2030

US approves $500m loan for Bahrain oil project

The US export credit agency has approved a $500 million loan guarantee for Bahraini state-backed Bapco Energies. The Export-Import Bank of the United States (Exim) board of directors greenlit the project after voting last month to notify Congress about potentially supporting the expansion of an oil and gas field in the Gulf nation. JP Morgan […]

Bahrain musicians golden licence

Golden licences bring $2bn into Bahrain

A total of $2.4 billion in investment in nine major projects has flowed into Bahrain after the introduction of its golden licence initiative last year. The projects, which could generate 3,000 jobs, include the setting up of Bahrain Titanium by Interlink Metals & Chemicals of Switzerland and the urban waterfront development Bahrain Marina. “Bahrain has […]

GCC banks can save more than $3bn per year by merging branches and accelerating digitalisation

Mergers drive growth in Bahrain’s Islamic finance sector

When Al Salam Bank, one of the largest Islamic banks in Bahrain, became majority shareholder of its Algerian subsidiary last June, CEO Rafik Nayed made clear that the shopping spree was not over. Mergers and acquisitions “will remain an important pillar of our growth plans”, Nayed said – and last month Al Salam announced a […]

Bahrain's sovereign fund Mumtalakat Holdings is looking for buyers for its McLaren Group stake

Bahraini fund hires bank to find buyer for McLaren stake

Bahrain’s sovereign fund has hired bankers to find a potential buyer for its stake in the British carmaker McLaren Group, according to a UK media report. Mumtalakat Holdings, which holds a 50 percent stake in McLaren, has hired JP Morgan following an order from King Hamad bin Isa Al Khalifa, The Sunday Times reported. JP […]

Saudi e-commerce software startup Salla has enabled $7bn in e-commerce sales since 2020

Investcorp leads $130m pre-IPO funding for Saudi startup

Salla, a Saudi e-commerce software startup, has raised $130 million in its pre-IPO investment round, led by Bahrain’s alternative asset manager Investcorp. Sanabil Investment, a subsidiary of Public Investment Fund and STV, a venture capital investor and an existing Salla shareholder, also participated in the transaction, Investcorp said in a statement. Bahrain-headquartered Investcorp made the […]

A view of the financial district in Bahrain's capital Manama. The kingdom's real estate remains more affordable than other Gulf states

Bahrain and UAE sign $4bn real estate deal

A UAE property investment and development company has signed a $4 billion deal to develop real estate across Bahrain. Abu Dhabi’s Eagle Hills International has finalised a joint cooperation agreement to set up Binaa Al-Bahrain, with a focus on residential, commercial and entertainment projects across the kingdom. The new company will work with Edamah, the […]

Bahrain investments Manama skyline

Financial services help Bahrain to record $1.7bn in investments

Bahrain attracted more than $1.7 billion in investments last year through its government-backed investment company. The financial services sector was the main driver. The figure, released by the Bahrain Economic Development Board, was 55 percent up on 2022. The investments covered 85 local and international projects, which are forecast to create 5,700 jobs in Bahrain […]

Arcapita managing director Muhannad Buhindi and Rikaz CEO Khalid bin Hassan Al-Qahtani at the launch of the new partnership to build a logistics hub in Saudi Arabia

Bahraini-Saudi companies to build logistics hub in Riyadh

A joint venture between Bahrain-headquartered Arcapita Group Holdings and Saudi developer Rikaz will develop a high-end logistics park in Riyadh to attract global and regional companies.   The Node will cover three million sq m of development, with the first phase extending 400,000 sq m of Grade A warehousing facilities. The project is anticipated to generate […]

Binance founder Zhao Changpeng, who paid $4.3bn in a money-laundering settlement. Investcorp says it would not currently recommend digital assets to investors

Investcorp stays cool on digital assets

Investcorp, the Gulf region’s largest alternative investment company, will not be turning to digital assets to boost its bottom line in the short term. The Bahrain company’s Abu Dhabi-listed Investcorp Capital invested more than $639 million in the first half of its financial year to December 31, 2023. The company’s latest financial reports revealed a […]

Investcorp co-CEO Rishi Kapoor. The Bahrain-based company says it is particularly interested in the Philippines, Indonesia and Thailand

Investcorp lines up diverse strategies for east and west 

Multibillion-dollar asset manager Investcorp Capital is planning listing activity from its companies in the east in the next six months, but sees more profit in mergers and acquisitions in the west. The Bahrain-based company, which was listed on the Abu Dhabi Stock Exchange in November, on Monday reported income of $34 million for the first […]

Investcorp airport terminal B la Giardia

Investcorp seeks more global airport and seaport stakes

Bahrain’s Investcorp Holdings is looking at investment opportunities in airports and seaports across the world as it seeks to double the infrastructure assets in its portfolio to $10 billion by the end of the decade. Investcorp, the region’s biggest alternative investment firm, completed a 50 percent acquisition of the New York-based Corsair Capital’s infrastructure business, […]

These workers at a factory in Manama, Bahrain, could soon be enjoying a three-day weekend if the government goes ahead with proposed changes

Kuwait and Bahrain propose changes to working week

Lawmakers in Kuwait and Bahrain are pushing for major amendments to the working week, aiming to improve workers’ rights and boost the work-life balance in the two Gulf states. In Bahrain, the focus is on extending the weekend to three days: Friday, Saturday and Sunday.  “There is an urgent need to keep pace with global […]