Bahrain Airport posts 10% cargo growth in 2017

Bahrain Airport posts 10% cargo growth in 2017

(Manama) – Bahrain Airport Company (BAC), the operator and managing body of Bahrain International Airport (BIA), announced that the airport has witnessed a 10% growth in cargo traffic during 2017. Cargo traffic at the airport for the cumulative period from January to December 2017 reached a total of 289,434 tonnes, compared to the 263,956 tonnes […]

SCE, World Energy, Env. Council to establish cooperation

SCE, World Energy, Env. Council to establish cooperation

(Manama) – Vice President of the Supreme Council for Environment (SCE), HH Shaikh Faisal bin Rashid Al Khalifa, today received a number of experts of the World Energy and Environment Council and organisers of the 5th World Energy and Environment Conference and Exhibition 2018 held on January 6 in Bahrain. Environmental issues were discussed, notably […]

Efforts to develop property sector hailed

Efforts to develop property sector hailed

(Manama) – Survey and Land Registration Bureau (SLRB) President Shaikh Salman bin Abdulla bin Hamad Al-Khalifa received a Bahrain Property Development Association (BaPDA) delegation led by Chairman Aref Ahmed Hijris. Shaikh Salman bin Abdulla bin Hamad Al-Khalifa, also (BaPDA) Honorary Chairman, stressed the role of the association in serving the real estate sector, particularly property […]

Bahrain 1st regionally, 2nd globally: IFDI report

Bahrain 1st regionally, 2nd globally: IFDI report

(Manama) – Bahrain has ranked second globally and first in the MENA region in the fifth edition of the Islamic Finance Development Report and Indicator (IFDI) by Thomson Reuters and the Islamic Corporation for the Development of the Private Sector (ICD) – the private sector development arm of the Islamic Development Bank (IDB). This is […]

Huawei holds ICT Talent Cultivation Summit

Huawei holds ICT Talent Cultivation Summit

(Manama) – Enabling Middle East leaders to achieve targets outlined in their national plans and visions through digital transformation was the focus of Huawei’s ICT Talent Cultivation Summit held in Shenzhen this week. The event, attended by six ambassadors from the region, also discussed the importance of nurturing local talents to achieving digitalization. Each country’s […]

Finance Ministry to implement VAT in 2018

Finance Ministry to implement VAT in 2018

(Manama) – The Ministry of Finance has announced its commitment to implementing the Value Added Tax (VAT) in 2018 within the framework of joint commitment of the GCC member states to enforcing the afore-mentioned tax and in line with the decisions of the GCC leaders in this respect as well as the unified agreement concluded […]

BTI Bank launched in Casablanca

BTI Bank launched in Casablanca

(Manama) – Al Baraka Banking Group (ABG) and the Moroccan Bank for Foreign Commerce of Africa (BMCE Bank) announced the launch of the new participation bank BTI Bank (Bank al Tamweel wa Inma), its headquarters opening in Casablanca. The establishment of this participation bank comes within the context of fulfilling the needs of the Moroccan […]

Excise Tax to come into effect early 2018

Excise Tax to come into effect early 2018

(Manama) – The Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, announced that the Excise Tax on Selected Items Law would come in force early 2018. As stated in the law, the tax rate will be 100% for tobacco and energy drinks, and 50% for soft drinks. The Finance Ministry has launched a new […]

Malaysian Premier praises EDB

Malaysian Premier praises EDB

(Manama) – Malaysian Prime Minister, Dato’ Sri Haji Mohammad Najib bin Tun Haji Abdul Razak paid a visit to the Economic Development Board (EDB), in the presence of Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa, and a number of EDB board members and officials. During the visit, the Malaysian Premier was informed about EDB’s […]

Saudi king approves $19bn stimulus

Saudi king approves $19bn stimulus

(Riyadh) – Saudi Arabia’s King Salman approved 72billion riyals ($19.2bn) worth of measures to stimulate growth in the private sector. The measures include residential housing loans worth 21.3bn riyals, a 10bn riyal fund to support economic projects, and 1.5bn riyals to support distressed companies, the government announced. A 2.8bn riyal government fund will be created […]

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