People & Lifestyle 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 […] January 29, 2024
Trade Bahrain’s trade deficit increases 200% Bahrain’s trade deficit increased by 212 percent in the fourth quarter of last year following a drop in exports and re-exports from the kingdom. The trade balance, which shows the difference between exports and imports, recorded a deficit of BD276 million ($733.2 million) in the fourth quarter, up from BD88 million in the same period […] January 22, 2024
Industry Morocco joins Mena industrial partnership Morocco has become the fifth country to join a partnership that aims to strengthen industrial integration in the Middle East and North Africa. At a meeting held in Manama, Morocco’s entry into the Industrial Partnership for Sustainable Economic Growth was announced, joining the UAE, Jordan, Egypt and Bahrain. During the meeting $2.2 billion worth of […] January 15, 2024
Manufacturing $100m aluminium plant signals Bahrain’s industrial push Conexus Resources Group has launched a $100 million aluminium rod plant in Bahrain, the latest project to emerge as the Gulf kingdom seeks to enhance its manufacturing sector. The UK company has announced the inauguration of Konexus Aluminium, which will process liquid metal from Bahrain’s national manufacturer Aluminium Bahrain (Alba) to serve regional and international […] January 10, 2024
Banking & Finance Bahrain Steel lands $450m loan for green transition Bahrain Steel, a supplier of high-grade iron ore pellets, has secured a $450 million sustainability-linked loan from a consortium of regional banks as part of its carbon footprint reduction drive. The loan will be used to build the world’s largest stockyard shed with rooftop solar panels, in addition to meeting working capital requirements, Dubai-headquartered lender […] January 9, 2024
Analysis Construction Bahrain’s consumer spend to rise as destination malls open Consumer spending in Bahrain is forecast to rise this year as its economy grows – with retail confidence reflected by construction starting on a $530 million development. Bahrain Marina will have nearly 200 shops, including international brands, restaurants and cafes, as well as 274 residential units, 182 berths for yachts and boats, and more than […] January 5, 2024
Real Estate Bahrain introduces real estate data service for investors Bahrain’s Real Estate Regulatory Authority has launched an online service providing investors with data on the kingdom’s real estate sector. Aqari Data Bank uses artificial intelligence to give up-to-date information on transaction volumes, property valuations, land classifications and the locations of commercial complexes, healthcare facilities and educational institutions. The subscription-based platform provides interactive maps and […] December 27, 2023
Finance Bahrain’s economy expands 2.5%, fuelled by non-oil sector Bahrain’s economy grew by 2.5 percent year on year in real terms in the third quarter of 2023, driven by 4.5 percent annual growth in the non-oil sector, preliminary data released by the Information and eGovernment Authority shows. The kingdom’s non-oil sector accounted for 83.6 percent of real GDP in Q3 2023, the state-owned Bahrain […] December 27, 2023
Finance Bahraini fund in talks to take full ownership of McLaren Bahrain’s sovereign fund is nearing a deal to take full control of the British supercar maker McLaren Group, according to a media report. Mumtalakat Holdings, which holds a 62.55 percent stake in McLaren, is in talks to buy the 20 percent stake held by minority shareholders and convert their equity into warrant-like instruments, Sky News reported. […] December 20, 2023
Construction Investcorp buys 50% of Corsair’s $5bn infrastructure business Bahrain-based alternative investment firm Investcorp has acquired a 50 percent stake in the $4.8 billion infrastructure business of New York-based investment firm Corsair Capital. The transaction was completed by establishing Investcorp Corsair Infrastructure Partners (Investcorp Corsair), a new entity jointly owned by the two companies, the Manama-headquartered company said in a statement. The new entity […] December 12, 2023
Sustainability Bahrain seeks 30% reduction in emissions by 2035 Bahrain aims to reduce carbon emissions by 30 percent by 2035 and reach zero carbon by 2060 as part of its national carbon neutrality strategy. The Gulf state recently launched a national energy strategy and a $750 million fund, in addition to establishing the Safaa voluntary platform to offset carbon emissions, the UAE state-run Wam […] December 11, 2023
Sustainability Bahrain anchors Investcorp’s $750m climate fund Bahrain’s sovereign wealth fund, Mumtalakat Holding Company (Mumtalakat), will anchor Manama-based alternative asset manager Investcorp’s $750 million climate fund. The launch comes as Cop28 kicks off in the UAE, with negotiators striking the first deal of the summit – agreeing to set up a fund to help vulnerable countries recover from damage caused by climate […] December 1, 2023
Finance Bahrain’s Investcorp aims to raise $550m in first yuan fund Bahrain-based alternative asset manager Investcorp is aiming to raise 2 billion to 4 billion yuan ($274 million-$548 million) for its first private equity fund in the Chinese currency, its executive said, to explore buyout opportunities in the country. Investcorp plans to apply in the next few months for a license with Chinese regulatory bodies that […] November 15, 2023
EXCLUSIVE Renewable Energy Download our exclusive report on the Gulf’s path to net zero As the world shifts towards cleaner sources of energy, the GCC’s oil and gas-producing nations find themselves faced with the dual threat of environmental and economic crisis. What are they doing about it? In this special report published as the UAE prepares to stage the United Nations’ Cop28 climate change summit, AGBI examines the Gulf’s […] November 8, 2023
Banking & Finance Bahraini ‘repo’ platform targets GCC-wide trading A new platform focused on repurchase agreements has launched in Bahrain with the aim of increasing trading liquidity for bonds across the Gulf. A repurchase agreement, also known as a “repo”, is a form of short-term borrowing, mainly in government securities. Repo transactions between banks allow them to manage their liquidity. One side with excess […] November 8, 2023
Economy Bahrain economy grows 2% despite GCC trade slump Bahrain’s economy grew by 2 percent year on year in the second quarter of 2023, despite a drop in trade with neighbouring GCC countries. The kingdom saw its non-oil sector increase by 2 percent, while the oil sector was up 2.2 percent. Bahrain’s fiscal and current account break-even oil prices are among the highest in […] November 1, 2023
Opinion Aviation Gulf Air is battling for Bahrain’s skies Can another strategic turn really be successful? October 24, 2023
Banking & Finance Investcorp Capital to list on Abu Dhabi Securities Exchange Investcorp Capital has revealed plans to offer 643 million ordinary shares in an initial public offering on the Abu Dhabi Securities Exchange. The shares, which represent an estimated 29.34 percent of issued share capital after the IPO, will have a nominal value of $0.50 (AED1.84), according to a statement from the Bahrain-based alternative investment company. […] October 24, 2023
Economy Telecoms and transport drive Bahrain’s non-oil growth Bahrain’s non-oil sector grew to 82.9 percent of the kingdom’s GDP in the second quarter of this year, driven by sharp increases in the transport and telecommunications industries. Bahrain’s GDP was up 2 percent in Q2. This included a 2 percent increase in the non-oil sector and a 2.2 percent rise in oil-related activities, according […] October 3, 2023
Markets Bahrain’s Investcorp completes first IPO in Indonesia Investcorp has successfully listed its Indonesian franchisee of the Mothercare brand as its focus on Asia continues to grow. The listing of PT Multitrend Indo is the Bahrain alternative investment company’s first IPO on the Indonesian stock exchange and the 26th in its 40-year history. Mothercare is one of Indonesia’s leading baby and kids retailers, […] September 25, 2023
Real Estate Bahrain’s Arcapita exits US student housing portfolio Arcapita Group Holdings, the Bahrain-headquartered alternative investment company, has exited from its student housing community investment in the United States. Arcapita sold its student housing community near Clemson University, the second largest university in South Carolina, to Chicago-based Core Spaces, an operator of student housing properties. The transaction is Arcapita’s second student housing exit in […] September 21, 2023
Video length: 06:36 VIDEO Trade Abraham Accords – 3 years on, $3 billion in trade An Israeli politician has described how the Abraham Accords, signed three years ago today, have “opened a floodgate to, hopefully, a new Middle East”. Fleur Hassan-Nahoum, deputy mayor of Jerusalem, tells AGBI in an exclusive video interview that the agreement signed at the White House on September 15 2020, is transforming Israel’s relations with the […] September 15, 2023
