Trade Bahrain, Egypt, Jordan and UAE sign $2bn of industrial deals Businesses from the UAE, Egypt, Jordan and Bahrain have signed industrial deals valued at more than $2 billion at a government-backed gathering in Amman. The meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development, held on Sunday, brought together CEOs and the industry ministers of the four countries. Twelve agreements were […] February 27, 2023
Economy Bahrain’s preliminary estimates show deficit falls 85% in 2022 Bahrain’s preliminary financial estimates for 2022 showed the deficit decreased by 85 percent, the finance ministry said in a statement on Monday. Total oil revenues increased by 58 percent compared with budget estimates, according to the statement. The country’s total public revenues increased by 42 percent to 3.490 billion dinars ($9.26 billion) compared with budget […] February 21, 2023
Economy Investcorp reveals massive expansion plans in India Bahrain-based Investcorp has vowed to grow the size of its business in India five-fold in the next five years. The alternative investments firm, which managed $50 billion in assets as of December 2022, only entered India in the first quarter of 2019, but has since completed 15 investments worth $1 billion. Speaking from the company’s […] February 2, 2023
Banking & Finance Investcorp to set up ‘multi-billion dollar’ sustainability platform Investcorp has revealed plans to establish a “multi-billion dollar” sustainability platform to capitalise on what co-CEO Rishi Kapoor described as “the most attractive opportunity from an investment perspective that we have seen in a generation”. A report from consultants McKinsey estimates $250 trillion of cumulative spending on physical assets is needed over the next three […] January 30, 2023
Banking & Finance Bahrain’s Investcorp to expand southeast Asia footprint Bahrain-based Investcorp is working on multiple initiatives in Indonesia, including one in partnership with the nation’s sovereign wealth fund as it seeks to expand its footprint in southeast Asia, the firm’s co-chief executive officer said. “We have two terrific initiatives in Indonesia right now, and hopefully, a third very soon in partnership with the local […] January 17, 2023
Banking & Finance Bahrain’s GFH co-invests with Equitix in Europe’s infra sector Bahrain-based GFH Financial Group’s (GFH) sustainable infrastructure platform Infracorp has announced its first co-investment in the European infrastructure sector with London-based fund manager Equitix. The two entities will invest in Aurora Infrastructure Oy (Aurora), a monopoly electricity distribution network operating in Finland. Aurora serves a blue-chip international industrial client base and has invested more than […] January 12, 2023
Real Estate Bahrain’s Investcorp to spend $1bn on real estate across GCC Investcorp is planning to invest up to $1 billion in the GCC real estate market over the next five years, it said on Tuesday. The Bahrain-based company’s announcement follows its first property acquisition in Saudi Arabia: a 215,000-sq-ft temperature-controlled warehouse in Dammam. Investcorp is assessing $100 million worth of potential real estate investments in the […] January 10, 2023
Health Bahrain’s GFH takes on US healthcare with Big Sky deal Bahrain’s GFH Financial Group announced on Tuesday it has completed the acquisition of a majority stake in Big Sky Asset Management, a US real estate asset manager focused on the healthcare sector. The transaction further expands GFH’s presence in the States and follows the partnership in May with SQ Asset Management, a specialist in student […] January 3, 2023
Economy Bahrain’s exports dropped 14% in November Bahrain’s exports of national origin dropped by 14 percent in November year-on-year reaching BD350 million ($931.6 million). According to the Information & eGovernment Authority, unwrought aluminium alloys were the top products exported during November this year, worth BD92 million. Bahrain real estate trends: From drive-thrus to cheaper hotels Bahrain’s GFH commences trading on Abu Dhabi […] December 27, 2022
Analysis Real Estate Bahrain real estate trends: From drive-thrus to cheaper hotels Economic recovery, an increase in tourism and a reputation as one of the safest places in the GCC for international trade has put Bahrain on the investment map. And property is one hot sector. The total number of real estate transactions in Bahrain in the third quarter of this year was 5,482, according to an […] November 30, 2022
Banking & Finance Investcorp targets mid-sized buys in $500m China investment push The Bahrain-based asset manager has launched a fund with Hong Kong's Fung Capital, to snap up family-owned firms with growth potential November 29, 2022
Analysis Tourism Bahrain to gain 1,000 extra tourism jobs in next three years Bahrain’s tourism sector is expected to gain more than 1,000 jobs after the Gulf kingdom attracted direct investments of $291 million during the first nine months of 2022. The Bahrain Economic Development Board said the investments came from eight travel and hospitality-related companies expanding or entering Bahrain for the first time. They are expected to […] November 22, 2022
Real Estate Bahrain’s Investcorp plans Saudi real estate deal before year-end Bahrain-based Investcorp plans to close a Saudi real estate deal before the end of the year, senior executives at the alternative investments firm said on Thursday. The acquisition of warehouses in Saudi Arabia will be announced in the coming weeks, the executives told Reuters, without giving any details on the size of the investment. Investcorp, […] November 18, 2022
Analysis Real Estate Four Seasons heads to Bahrain as branded home market booms Four Seasons has unveiled plans to build bespoke homes in Bahrain Bay as the demand for branded residences gathers pace in the Middle East. The hospitality company has teamed up with Bahrain-based real estate developer Bayside Developments for the Four Seasons Private Residences Bahrain Bay project. Buyers of the 112 homes will be able to […] November 17, 2022
Analysis World Cup 2022 Bahrain set for surge in visitors from Europe’s World Cup giants Europeans are flocking to Bahrain this autumn, with flight bookings from Germany, France and the UK up significantly on pre-pandemic levels in what could be a World Cup windfall for the island’s tourism industry. As nearby Qatar prepares to host the tournament, which starts on November 20, an influx of tourists from defending champions France, […] November 2, 2022
Economy Bahrain and Israel hope to seal free trade deal by year-end Israel and Bahrain hope to seal a free trade agreement before the end of the year, officials from both countries said on Monday. Israel normalised diplomatic relations with Bahrain and its Gulf neighbour the United Arab Emirates (UAE) two years ago under US sponsorship. While economic ties with the UAE has since taken off, Israel’s […] November 1, 2022
Economy Bahrain attracts $921m direct investment in diversification drive Bahrain’s Economic Development Board (EDB) said on Wednesday it attracted $290 million direct investment in manufacturing and logistics in the first nine months of 2022 as the country seeks to diversify its oil-based economy. The investments, through 25 manufacturing and logistics companies setting up and expanding in the small island nation, are expected to create […] October 6, 2022
Economy Bahrain’s hospitality sector grows 18%, helping Q2 GDP up 6.9% Bahrain’s gross domestic product rose 6.9 percent year-on-year in the second quarter of 2022, posting the biggest annual increase since 2011, Bahrain News Agency reported, citing the Ministry of Finance and National Economy. The positive economic growth was driven by the strong performance of the non-oil sectors targeted by the Economic Recovery Plan. The hotels […] September 26, 2022
Lifestyle Bahrain pearls given royal stamp of approval The UK’s Princess of Wales put Bahraini pearls back in the spotlight this week when she wore a pair of earrings made from the precious stone for the funeral of Queen Elizabeth II. Her timing was perfect as Bahrain aims to re-establish itself as the global centre for sustainable pearls. Catherine, Prince William’s wife, sported […] September 21, 2022
Economy Bahrain and Israel start free trade agreement talks Israel and Bahrain have begun negotiating a free trade agreement, Israel’s Economy Ministry said on Tuesday. Israel normalised diplomatic relations with Bahrain and its Gulf neighbour the United Arab Emirates (UAE) two years ago under US sponsorship. While economic ties with the UAE has since taken off, Israel’s trade with Bahrain has lagged far behind. […] September 20, 2022
