Bahraini.TV

Bahrain: Strength in Diversity

Bahrain appears to have finished 2009 in better shape than many could have foreseen at the beginning of the year, and will be looking to 2010 with a confidence garnered from the solid performance of the country’s economy under pressure. There had been fears that Bahrain would be hard hit by the global crisis, especially [...]

30,000 to protest fuel price rise

More than 30,000 people are expected to demonstrate on the streets of Manama tomorrow amid fears of a potential increase in petrol prices.
Twelve political societies, under the chairmanship of Al Wefaq block MP Jawad Fairooz, have joined forces with trade unions to organise the protest.
MPs were outraged last month when ministers confirmed that the existing [...]

Salman Industrial City ‘key milestone’

Jobs at the Salman Industrial City are expected to more than double to around 34,000 within a few years.
Investments in the venture, which already house 160 companies, are also expected to more than double to nearly $8 billion (BD3bn).
The forecast came as His Majesty King Hamad officially laid the foundation stone for the city yesterday.
It [...]

Salman Industrial City Inaugurated

Investments in the Salman Industrial City are expected to more than double to nearly $8 billion (BD3bn) in the next few years.
The forecast came as His Majesty King Hamad officially laid the foundation stone for the city yesterday.
The ceremony was attended by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal [...]

Bahrain plans $2.65bn city

A company will be hired in the next few days to map out the BD1 billion ($2.65 billion) redevelopment of the Manama Central Market area into a city within a city.
The Manama Municipality and Municipal Council have already selected the company out of two bidders in the summer, but were not totally pleased with the [...]

Gulf nations may opt first for dollar in currency union

Four Gulf nations entering the Middle East’s first monetary union pact are expected to peg their single currency to the US dollar in the first phase of the historic project but might opt for a basket later, according to analysts.
Saudi Arabia, Kuwait, Qatar and Bahrain, members of the six-nation Gulf Co-operation Council (GCC), have kept [...]

Market Study on Bahrain Consumer Electronics: LCD and Plasma TV sets to drive growth

Bahrain’s domestic consumer electronics devices market, defined as including computing devices, mobile handsets and video audio and gaming products, was estimated to be worth around US$421mn in 2008. This expected to increase to US$542mn by 2013, with increased demand for mobility, lower prices and greater vendor and channel sales flexibility driving demand in key product [...]

Bahrain’s Gulf Finance House says CEO Quits

Bahrain’s Gulf Finance House (GFH) said on Wednesday Chief Executive Ahmed Fahour had quit after just five months, a setback for the loss-making bank’s efforts to restructure and find new revenue streams.
GFH said in a statement Fahour had been appointed by the Australian government as managing director at Australia Post and current Group Deputy [...]

Fitch Affirms Bahrain’s Sovereign Rating

Tuesday, Fitch Ratings affirmed Bahrain’s Long-term foreign and local currency Issuer Default Ratings at ‘A’ and ‘A+’ respectively. The Outlook on the Long-term IDR remained stable. The rating agency also affirmed short-term foreign currency IDR at ‘F1′ and Country Ceiling at ‘A+’.
Purvi Harlalka, Associate Director in Fitch’s Sovereign group said, “Although growth has slowed and [...]

Bahrain leads Mena region on Economic Freedom

Bahrain has been ranked as the 13th freest economy in the world, and the most free in the Middle East and North Africa (Mena) region, in the annual Index of Economic Freedom, published by the Heritage Foundation and Wall Street Journal. Bahrain was the only economy in the Mena region to rank among the world’s [...]

Gulf petro-powers to launch currency in latest threat to dollar hegemony

The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate.

“The Gulf monetary union pact has come into effect,” said Kuwait’s finance minister, Mustafa al-Shamali, speaking at a [...]

Bahrain central bank head sees recovery signs

Despite an early intervention by governments, the global economy has not yet fully recovered. However, the signs of recovery are there and the situation is immeasurably better than a year ago, said a senior official at the central bank.
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Gulf monetary union agreement enacted, Kuwait says

Gulf Arab countries enacted a monetary union agreement on Tuesday despite the absence of major player the United Arab Emirates and fellow oil producer Oman.
The central bankers from four states in the union — Saudi Arabia, Kuwait, Qatar and Bahrain — will now set a timetable for the creation of a joint central bank, Kuwait’s [...]

Dubai receives a $10bn bailout from Abu Dhabi

• Surprise lifeline helps Dubai avoid defaulting on $4.1bn bond
• In London FTSE 100 rises by 69 points following gains in Asia
Dubai has received a crucial $10bn (£6bn) bailout from Abu Dhabi, news which sent shares in the Gulf region soaring this morning.
The surprise lifeline means the troubled emirate will avoid defaulting on its $4.1bn [...]

GCC states closer to achieving one currency

Gulf Arab oil exporters will move closer to a unified currency when their rulers meet on Monday in Kuwait, which promised to seek the return of the United Arab Emirates and Oman to the monetary union plan.
The UAE, the second largest Arab economy, dealt a serious blow to the union by pulling out in May [...]