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Most oil dependent countries have been downgraded by Standards and Poor’s rating agency and some Gulf countries were among those affected recently with their ratings reduced by 2notches. The agency cited that the falling oil prices contributed to the decision Read more
The Bahraini parliament is unhappy with the European Parliament (EP) after the latter questioned the credibility and independence of a judgment passed by one of the kingdom’s courts. A resolution passed by the EP last week rejected a court ruling Read more
Bahrain will shortly become a distribution point for Russian LNG after completion of its $600 million LNG distribution center. An agreement to this end has been reached with Gazprom during King Hamad Bin Eisa Al Khalifa’s current working visit to Read more
Charles Saint-Prot, Head of the Paris-based Observatory of Geopolitical Studies praised Morocco for its exceptional counter-terrorism strategies which are, he said, the result of King Mohammed VI’s clear vision of religious matters. Speaking in an interview with “Teathrum Belli” published Read more
Bahrain would soon introduce austerity measures as recommended by a delegation from the International Monetary Fund (IMF) which visited the Gulf country January 12 to 25 for annual consultations. Bahrain is struggling with the low oil prices and IMF forecasted Read more
A suicide car bomb attack exploded Thursday at a checkpoint less than a kilometer from the presidential palace in Aden, killing at least eight people and injuring 15. President Hadi and Prime Minister Khalid Bahah were in the palace at Read more
Bahrain could be privatizing public companies after lawmakers discussed reducing government stakes to not more than 30% thereby opening Gulf Air, Alba, Bahrain Airport Company, Batelco and the National Bank of Bahrain (NBB) to the private sector. The chairman of Read more
Bahrain’s central bank is working on closing Future Bank but the reasons are yet to be made public. The bank is a joint venture between two Iranian banks and a Bahraini bank with $1.51 billion in assets at the end Read more
Talks between the members of the Gulf Cooperation Council (GCC) on the possibility to build a regional missile defense system are progressing. The announcement was made by Commander Hamad Al Khalifah of the Royal Bahraini Air Force on the sidelines Read more
The Bahraini government approved the reduction of subsidies and the increment of energy prices in the country by at least 50%. The government made the decision while reviewing the expenditure policies due to the low global oil prices. Reducing energy Read more