Updates: President Biden says ‘discussing’ possible Israeli strikes on Iran oil facilities
Oil prices shoot up as Biden suggests that Israel might target Iranian oil facilities, while GCC Arab states, including Qatar, Saudi Arabia, and the UAE, reassure Iran of neutrality in the conflict between Tehran and Israel.
UK and Gulf nations negotiate trade deal
"It brings me great joy and pleasure to officially announce the official launch of FTA negotiations between GCC countries and UK today," Zayed bin Rashid al-Zayani, Bahrain's minister of industry, commerce and tourism, said late Friday.NFTs take Mideast art world by storm
An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold onlineInvestcorp expands US holdings
Mubadala is biggest shareholder of asset manager Investcorp.Bahrain VAT rate hike may boost sales of UAE retailers
Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in the neighboring United Arab Emirates.Amazon extends its cloud over Middle East
Nearly two years after it set up a base in Bahrain, Amazon Web Services (AWS) has widened its footprint beyond the country and established AWS Region in the United Arab Emirates.Protests in Bahrain over new Israeli embassy
Protesters marched waving Palestinian and Bahraini flags, chanting "Death to Israel" and "No to Israeli embassy in Islamic Bahrain".Digital transformation helps GCC banks prosper
Digital transformation brought about by COVID-19 has made banks more open to branchless and cashless banking enabling them to perform better in H1 2021 than they did in the same period last year.Israel foreign minister opens embassy in Bahrain
Yair Lapid began a landmark visit Thursday to Bahrain where he opened the Israeli embassy one year after the US-brokered normalisation of ties. The Israeli foreign minister touched down at Manama airport over an hour before a Gulf Air A320 took off in the opposite direction for the first commercial...Israeli foreign minister makes first visit to Bahrain, to open country’s embassy
Israel's Foreign Minister Yair Lapid began a landmark visit Thursday to Bahrain where he will open the Israeli embassy one year after the US-brokered normalization of ties.Bahrain launches region’s fastest global sea-to-air logistics hub
Bahrain expects this to be the most efficient multimodal sea-air transshipment hub in the region with a global reach.Non-oil sector fuels Bahrain economy growth
The results are said to be showing signs of economic recovery of Bahrain.Emaar Entertainment, Eagle Hills Diyar partner to take Reel Cinemas to Bahrain
Reel Cinemas will be the authorized cinema partner for the upcoming Marassi Galleria, a beachfront, world-class mega mall in Manama, Bahrain.GCC: Public-private partnership to boost healthcare
From 2018 to 2022, the private-sector healthcare spending is forecast to increase at a cumulative annual growth rate (CAGR) of 9.5 percentCovid-19 drives e-learning in GCC
There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts focus the importance of e-learning in the region.Al Salam Bank buys back shares
The bank has bought 320,664 shares on DFM and Bahrain Bourse.Cloud adoption picks up pace in GCC region
The strong demand for cloud computing in the Gulf region is driven by efforts of the member states to diversify economies, a young digital society and increasing digitization by firms.Region’s private equity market set to revive
The region’s industry executives are working hard to improve the dented image and put the sector back on track by attracting more foreign investors.Al Salam Bank buys back shares
The Bahrain’s bank has bought back around 445,000 treasury shares.Blinken meeting Israel, Arab states on Abraham Accords anniversary
The virtual meeting of the US Secretary of State with his counterparts from Israel, the United Arab Emirates, Bahrain and Morocco marks a full embrace of what former United States president Donald Trump considered one of his top foreign policy legacies. Trump broke long taboos in Middle East diplomacy to...Fintech and fighter jets: UAE-Israel ties bear fruit
On September 15, 2020, the UAE became the first Gulf nation to establish formal relations with the Jewish state$250bn GCC rail project on track after hiccups
The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions by cutting the need for trucks and cars.Bahrain’s value of indigenous exports rises 103%
The value of exports of national origin of Bahrain increased to BD386 million ($1.06 billion) in August 2021, compared to BD190 million ($505.32 million) in August 2020.UAE investors behind Bahrain’s $492m tourism investment
Investments from UAE-based property developers helped Bahrain’s tourism sector remain buoyant during the pandemic.Assets under GCC SWFs grow 10% to US$2.77trn
The SWFs of Abu Dhabi, Kuwait and Qatar have underpinned the resilience of their sovereign ratings despite lower oil prices and COVID-19 shock.Saudi, UAE lead MENA region in 5G deployment
The MENA region will have 80 million 5G subscriptions, representing about 10% of total mobile subscriptions by 2025, according to the latest Ericsson Mobility research.Gulf Air to start flights to Tel Aviv
The airline will operate two weekly flights from September 30TIER takes e-scooter service to Bahrain
This came as part of TIER’s ongoing expansion in the Middle East.Belt and Road Initiative in GCC: A deep dive
The relations between the Arab world and China have touched new highs particularly after China launched the Belt & Road Initiative project in September 2013.Bahrain’s digital transactions touch $3.62bn in H1
Bahrain’s central bank has revealed that cashless transactions in the country has surged 50 percent to $744 million in August, after reaching nearly $4 billion in the first half of the year.Bahrain now ranks among top 20 in foreign investment
Bahrain has attracted three times the amount of greenfield FDI that might be expected given the size of its economy, reveals a new report.South Korea mulls reviving FTA talks with GCC
The two sides have not had a mutual FTA for more than 10 years now.Bahrain cuts truck wait duration by 15 times
Bahrain’s Customs president hailed importers, traders, and customs agents for the achievement.Five cities poised to become GCC tech hubs
As part of economic transformation, some Gulf countries seek to achieve targets in digital transformation via long-term plans such as Saudi Vision 2030 and UAE Vision 2030.Two years after normalization of ties, Israel names first envoy to Bahrain
Eitan Na'eh had served for eight months as the temporary head of mission at the Israeli embassy in the United Arab EmiratesInvestcorp, Riverside sell Arrowhead Engineered Products
Investcorp, a Bahrain-based alternative investment management firm, and global private investor Riverside Co. have sold Arrowhead Engineered Products (AEP) to Genstar, a private equity firm.Stella Stays eyes $12bn Bahrain push
This is part of its expansion plans in the Middle East region.Bahrain mall eyes $159m expansion
The expansion work on The Avenues will be launched in Q3 2021.Unemployment will haunt Gulf in 2021
While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent between 2021 and 2023.Qatar gets first batch of Boeing F-15 fighter jets
They were produced by the United States and Boeing in partnership with Qatar itself.Bahrain’s rich own half of its total wealth
Nearly half of Bahrain’s wealth, of $69 billion, is possessed by its super-rich citizens, according to Boston Consulting Group (BCG).Bahrain allows use of airport for Afghan evacuees
Bahrain has announced that it is “allowing flights to make use of Bahrain’s transit facilities” amid the evacuations of Afghanistan.Bahrain-origin exports up by 62 percent in July
Saudi Arabia ranked first for Bahrain-origin exports and re-exports. Portable digital automatic data processing machines were the top product re-exported from Bahrain.Bahrain’s deficit dips 35 percent to $1.38bn in H1
Bahrain has succeeded in lowering its deficit by 35 percent to $1.38 billion in the first half of 2021, compared with the same period last year.Bahrain eServices revenue up 257% to $532m in H1
The number of financial transactions in H1 2021 exceeded 1.6 million, double the number in the same period last year.Mergers, acquisitions in GCC up during pandemic
Expanding regional and global footprints, high revenues, cheap capital to invest and diversification key factors that hastened the merger processes.UAE, Bahrain lead MENA’s fintech sector boom
A total of 465 fintech companies in the region are expected to raise over $2 billion in venture-capital funding, compared to nearly $80 million raised by 30 fintech firms in 2017.Ithmaar Holding gains $4m in H1 2021
This is a turnaround from H1 2020, when net loss was $1.29m.Chevron JV wins $240m Bapco deal
This is the largest catalyst management deal in Bapco’s history.Bahrain invites bids for BIA Cargo Express Village project
The request for proposal has come from the Bahrain Airport Company, with the deadline for submitting the bids being September 12.Israeli foreign minister to visit Morocco
Morocco was one of four Arab states to agree last year to normalize ties with Israel, along with the United Arab Emirates, Bahrain and Sudan