Middle East > Bahrain

Bahrain

Capital: Manama; GDP growth (annual %) 2016: N/A

Abu Dhabi says Gulf air embargo only applies to Qatar firms

The air embargo imposed on Qatar only applies to airlines from Qatar or registered there, the United Arab Emirates Civil Aviation Authority said Tuesday.Embargo bans all Qatari aviation companies, aircraft registered in Qatar from landing or transiting through airspace of UAE, Saudi Arabia, Bahrain.

Saudi Arabia and Bahrain issued identical statements on the air embargo, which came into result at the same time as Riyadh, Abu Dhabi and Manama broke off relations with Qatar on June 5, accusing it of supporting "terrorism".
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Diversification efforts propel non-oil sector, which now accounts for more than 80% of GDP

Bahrain’s commitment to diversifying its economy has been fundamental in making the country resilient against the challenges caused by the drop in oil prices

As the initial Gulf national to discover oil in 1932, Bahrain’s fortunes have long been tied to those of hydrocarbons. But with limited reserves compared to its neighbours, it as well grasped the need to diversify its economy beyond the black stuff far before than most.
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Bahrain launches new rules for financial technology firms

The Central Bank of Bahrain (CBB) has announced new regulations to create a regulatory sandbox that will allow startups and fintech firms to test and experiment their banking ideas and solutions.

The creation of the regulatory sandbox provides an opportunity for fintech businesses around the world to expand and thrive in the Gulf and strengthens Bahrain’s position as a fintech and financial services hub in the GCC.

The framework provides a virtual space for companies to test their technology-based innovative solutions, and is open to existing CBB licensees and other local and foreign firms.
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hina Shandong Economic & Technical Cooperation Group LTD(SCI),

Key Facts: Full name: Kingdom of Bahrain

Population: 1,324,000 (UN, 2011)
Area: 717 sq km (277 sq miles)
Major language: Arabic
Major religion: Islam
Life expectancy: 75 years (men), 76 years (women) (UN)
Monetary unit: 1 Bahraini dinar = 1,000 fils
Main exports: Petroleum and petroleum products, aluminium
GNI per capita: US $15,910 (World Bank, 2010)
Internet domain: .bh
International dialling code: +973

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Country Profile

Mohamed Yousif Al-Binfalah, Chief Executive Officer Bahrain Airport Company
2017/08/18
In this interview with The Worldfolio, Mr. Mohamed Yousif Al-Binfalah, CEO of Bahrain Airport Company (BAC) discusses how BAC fits into the long-term development goals of the kingdom and the details of their $1.1bn project which aims to increase its capacity to 14 million passengers a year, positioning Bahrain as a major aviation hub

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Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

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Bahrain Continuing (but different) growth constraints
2017/05/07
Bahrain

Continuing (but different) growth constraints

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Bahrain Year in Review 2014
2015/03/31
While a combination of high break-even prices and lower levels of fiscal reserves could see falling oil prices push Bahrain further into the red, the kingdom is still set to post respectable economic increase for the year, buoyed by a solid performance from its non-hydrocarbons sector.

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New opportunities open for Islamic banking in Bahrain
2014/08/16
With a strong and well established financial services sector, Bahrain’s role in expanding the world reach of sharia-compliant financing looks set to broaden further through three developments firmed up in July. Two new partnerships were announced last month that will expand the number of Islamic Financial Services (IFS) institutions in the kingdom, while an agency by presently active in the sector is furthering its work to globalise the industry.

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Bahrain Year in Review 2013
2014/03/04
Focus in 2013 remained on maintaining increase and the continuing process of further diversification of the economy– something Bahrain has a chief-start on over a lot of of its neighbours. However, ongoing security concerns have overshadowed performance in some sectors.

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Ashraf Bseisu, Group Chief Executive of the Solidarity Group,
2013/12/11
His Majesty Sheikh Hamad bin Isa Al Khalifa, King of Bahrain, has a prosperous vision for the country. The government is looking to the next with the goal of transforming the kingdom into a world-class competitive, sustainable, diversified and knowledge-driven economy.

Education, infrastructure, foreign investment , youth employment and technology are leading the Vision 2030. What is the role of the financial sector and of Solidarity specifically within this Vision?

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Bahrain Country Profile
2015/11/29
The country (Bahrain) is situated in Middle East, archipelago in the Persian Gulf, east of Saudi Arabia.
Land in Bahrain is mostly low desert plain rising gently to low central escarpment.
Bahraini land covers an area of 665 km²

The climate is arid, mild, pleasant winters, very hot, humid summers. Bahraini(s) speak Arabic, English, Farsi, Urdu.

Economic Overview

Increase recovered from weakness in 2011 but is presently constrained by weak oil prices

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