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Bahrain

UAE Leads MENA In Global Travel & Tourism Report

The country ranked 28th overall in the World Economic Forum’s Travel & Tourism Competitiveness Report 2013.

Wealth Fund Mumtalakat Eyes $150m Bahrain Investment In 2013

The fund has allocated $45 million for real estate projects and $42 million for tourism and hospitality schemes

Bahrain’s Alba Eyes Acquisition To Meet Demand

The firm may take a small stake in either a bauxite mine or a new or existing refinery, says CEO.

Bahrain’s Investcorp Sells IPH To European PE Firm

Investcorp has been selling assets and making new investments as financial markets recover from the Arab Spring.

Bahrain’s Gulf Air Cuts 15% Staff In Restructuring

The struggling carrier said further adjustments would be made across all levels of its organisation.

Bahrain’s Al Baraka Q4 Income Up 24%

The bank made a net profit of $26 million for the final three months of 2012, meaning a full-year profit gain of 13 per cent.

Bahrain’s Ahli United Bank Sees 11.8% Q4 Profit

The lender said earlier this month it was seeking regional acquisition targets after selling a 29.4 per cent stake in Qatar’s Ahli Bank.

UAE Grants Bahrain $2.5bn For Development

The money will be disbursed on an annual basis over the next 10 years.

Investcorp Buys Scottish Firm Hydrasun, Plans GCC Expansion

The value of the deal was not disclosed, but it is estimated to be between $150 to $300 million.

Bahrain’s Alba 2012 Profit Slumps 54% On Lower Prices

Aluminium Bahrain blamed higher energy costs for the decline in income.

What Happened To Bahrain Air?

Saj Ahmad, aviation expert, says forcing the carrier’s closure may not necessarily benefit Gulf Air.

Bahrain Air Shuts Down Blaming Political Unrest

The privately owned airline was flying to around a dozen locations in the Middle East.

Bahrain Expects Sharp Rise In 2013 Economic Growth

The kingdom’s Economic Development Board estimated GDP grew 3.9 per cent in 2012, up from 1.9 per cent in 2011.

Bahrainis Start First Reconciliation Talks Since 2011

Opposition members have expressed very cautious optimism that the talks represent a meaningful step forward.

Bahrain Invites Opposition To Feb 10 Reconciliation Talks

Opposition groups have suggested they would attend but cited differences with the government over the aim of the talks.

Bahrain’s Investcorp Reports Massive Rise In H1 Profit

The investment firm’s net profit rose to $39.2 million for the six months ended December 31, up from $5.2 million in the same period a year ago.

Bahrain’s Investcorp Eyeing Italy Luxury Brands

The private equity firm said earlier this month that it plans to announce a new deal in early February.

Bahrain Residential Rents Stabilise In Q4 2012

The residential leasing market in the country is slowly picking up despite political instability, says report.

S&P Revises Bahrain’s Credit Outlook To Stable

Standard & Poor’s has ranked the state as BBB, as has Fitch while Moody’s ranks it Baa1.

Investcorp Buys Majority Stake In US Security Firm

The Bahraini investment firm has acquired a stake in US-based FishNet Security for an undisclosed sum.

Bahrain’s Batelco Profit Slumps 24% In Q4 2012

The operator’s profit was hit by domestic competition and one-off charges from a cost-cutting programme.

Gulf Air Targets 24% Cost Savings In 2013

MENA region to be core focus of new strategy and the aim is for Bahraini businesses to forge closer links with regional markets.

Bahrain’s Investcorp sells CCC Information Services

Investcorp sold the insurance industry software provider to US-headquartered Leonard Green & Partners.

Rotana Eyes Bahrain Recovery

Operator maintains that while occupancies in Bahrain have reduced year on year, business opportunities remain.

Bahraini Islamic Banks Complete Rare Gulf Banking Merger

Capivest, Elaf Bank and Capital Management House have merged after more than a year of negotiations.

Gulf Air To Drop Three Routes

Gulf Air cited “commercial reasons” for the decision, which will place the carrier under renewed scrutiny.

Bahrain’s Arcapita Sells Stake In London Care Facilities

The investment firm is currently in the midst of a Chapter 11 bankruptcy process.

Bahrain’s Alba Gets Loans To Pay Off $169m Bond Maturing In 2013

Alba received a five-year $85 million loan from Bahrain’s Gulf International Bank and a three-year loan from a group of banks.

Banking Special: Bahrain Remains Challenged

The country faces political problems and a hangover from banks that were affected in the global economic crisis.

Bahrain’s Marina Project Hit By New Delays

The $66 million development is held up again by land issues.