Bahrain on EU Tax Havens Blacklist
The European Union has published its first blacklist of tax havens, naming 17 territories including three Arab countries: Bahrain, United Arab Emirates and Tunisia.
Reuters: Bahrain says it will join BEPS Framework to Exit EU's Tax-Haven Blacklist
Bahrain will join a group of countries committed to fighting corporate tax avoidance as it seeks to be taken off the European Union's tax-haven blacklist, the Bahraini Ministry of Finance said on Thursday.
Shura Agrees to Cut $2 for Generations Reserve Fund from Every Oil Barrel above $80 Price
The Shura Council approved in its session held recently a bill that provides for the deduction two dollars from every barrel of crude oil whose price exceeds $80.
TechnipFMC-Led Consortium to Expand Bahrain Refinery
State-run Bahrain Petroleum Co (Bapco) has awarded a consortium led by UK-based TechnipFMC a contract to expand Bahrain's only oil refinery, sources close to the matter told Reuters on Friday.
Standard & Poor's Cuts Bahrain Rating to “B+”
S&P Global Ratings on Friday lowered Bahrain’s long-term foreign and local currency sovereign credit ratings on Bahrain to ‘B+’ from ‘BB-'.
Bahrain Hotels ADR Drop to Lowest Levels in 11 Years
Average daily rates (ADR) at Bahraini hotels fell to its lowest October mark for 11 years, according to new data released by analysts STR.
Bahraini MP Calls for Imposing Tax on Income, Privatizing Gov’t Services
The Minister of Cabinet Affairs Mohammed Al-Mutawa demanded to impose a tax on income in Bahrain, stressing that the challenge Gulf States face is remaining rentier states that depend on oil in feeding their budgets. Al-Mutawa pointed out that Bahrain depends on oil in 86% of its budget.
Bloomberg: Bahrain among 7 Countries that Risk Credit-Default After Venezuela
Bloomberg, the economic news website, said in a report that emerging-market money managers are looking to identify countries that might run into trouble down the road.
Second Auction for Amwaj Gate to be Held on November 29
The judicial Committee for the Settlement of Stalled Real Estate Projects set November 29 as a date of Amwaj Gateway project auction.
Gulf Air Appoints Croatian Kucko as CEO
Gulf Air announced the appointment of the Croatian Kresimir Kucko as the chief executive officer of the airline starting November 12, 2017.
Bahrain Oil Minister says No Reason why Supply cut Agreement Shouldn’t be Extended
Bahrain's oil minister, Sheikh Mohammed bin Khalifa al-Khalifa, said on Tuesday he sees no reason why the supply cut agreement between oil producing countries should not be extended on Nov. 30.
Bahrain Dollar Bonds Fall in Wider Middle East Sell-off
Bahrain dollar bonds fell across curve on Wednesday, as assets across the region continued to drop in the wake of a sweeping anti-graft crack-down in Saudi Arabia.
Parliament Approves Selective Taxation
The Parliament approved in its session (Tuesday November 7, 2017) the regulations of the agreement that unifies the GCC selective taxation, and thus they went contrary to the recommendations raised by the financial committee.
Reuters: Bahrain Bond Yields Edge up on Report of Aid Request, No Panic Selling
Yields on Bahrain's international bonds inched up after a report that the kingdom was seeking financial aid from its Gulf allies but traders said there was no panic in the market, suggesting investors believe Manama can count on help from other states.
Bahrain Asks Gulf Allies for Financial Aids to Avoid Currency Devaluation
Bloomberg website specified in economic affairs revealed that Bahrain has asked Gulf allies for financial assistance as financial crisis in the country aggravates.
Auction of “Amwaj Gateway” Postponed, Price Decreased to 30 Million BD
The sale of the stalled Amwaj Gateway project has been postponed to November 29. The judicial Committee for the Settlement of Stalled Real Estate Projects announced the postponement of the public auction to protect the rights of all parties and allow more time for potential buyers.
Bahrain Committee Announces Closure of Stalled Juffair Views project
The committee in charge of settling stalled real estate projects in Bahrain announced the closure of the Juffair Views project after the distribution of the sale proceeds of the project to the purchasers of the 58 units over a period of 24 days.
Batelco Announces over 25 Million BD Profit within 9 Months
Batelco announced that it has achieved profit of BD25.2M (US$66.8M) until third quarter of 2017 .The Group has maintained stable revenues with increases over the previous quarter and over Q3 2016
Bahrain Central Bank Says Banks Need Breathing Space over Global Regulations
Bahrain’s central bank governor said on Thursday that stricter international bank rules, known as Basel III, had gone too far and banks had been burdened with too much regulation.
Bahrain to Reduce BANOCO Arab Medium Crude Exports in December
Bahrain plans to export less shipments of BANOCO Arab Medium crude oil in December due to pre-planned maintenance of an oil field, trade sources said.