Search Site

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Bahrain announces ban on single-use plastic bags from Sept. 19

For every 100 bags that were previously used at the cash counters, only five reusable bags are being taken by consumers.
  • The ministry said the ban would apply on selling, manufacturing, circulating and importing single-use plastic bags, which are less than 35 microns in thickness.
  • Industry minister Al Zayani said that the ministry held stakeholder engagement sessions especially with the private sector through the Bahrain Chamber of Commerce and Industry.

Bahrain has announced a ban, effective from September 19, on selling, manufacturing, circulating and importing single-use plastic bags, which are less than 35 microns in thickness.

Minister of Industry, Commerce, and Tourism Zayed bin Rashid Al Zayani said that the decision aims to support environmental protection initiatives and limit the spread of plastic waste, according to Bahrain News Agency.

He highlighted that the ban is in line with the government’s plans of securing an environment that supports sustainability and reduces pollution.

The ban will exclude single-use plastic bags that are more than 35 microns in thickness, single-use plastic bags that are used for medical purposes and bags that are used for exports, he said.

Al Zayani said that the ministry held stakeholder engagement sessions especially with the private sector through the Bahrain Chamber of Commerce and Industry.

He added that surveys showed that all local factories intend to manufacture multi-use plastic bags that are more than 35 microns in thickness. The survey also showed that 86 percent of these local factories would continue to manufacture plastic products that are exempt from the new regulation or alternatives to the banned single-use bags.

The minister noted that several neighboring and developed countries have applied similar regulations to limit the spread of plastic waste, which poses a great danger to the environment and wildlife. The minister called for people’s cooperation in enforcing the efforts to preserve environment.