The past decade has seen substantial changes in the global economy and geopolitics, with the rise of China and Russia’s re-emergence on the global stage being two particularly important trends. These developments are creating new opportunities for GCC member states as they look to diversify their economies and trade, seek investment opportunities in emerging markets, and forge partnerships…
Interview: Abdul Latif Al Zayani In what way does the GCC ensure regional security in collaboration with others? ABDUL LATIF AL ZAYANI: Regional security poses a great challenge, not only for the GCC states but for the entire region, particularly given the ongoing conflicts in Syria, Iraq, Libya and Yemen, and the threats posed by extremist ideology and terrorist organisations. The GCC has intensified…
Viewpoint: Theresa May One of the prevailing sentiments in all my conversations with leaders since I became prime minister has been this sense that in challenging times, you turn to your oldest and most dependable friends. As the UK leaves the EU, I am determined that we should seize the opportunity to get out into the world and to shape an even bigger global role for my country, to build new alliances…
A reliable regulatory framework, abundant regional capital and good support infrastructure helped Bahrain deliver solid growth for its asset management sector last year. At the end of 2016 total assets under management (AUM) in the country reached $18.4bn, a 2.7% increase on the previous year, according to the Central Bank of Bahrain (CBB). Steady growth since 2012, when AUM reached $13.2bn,…
A rising tide of investments and solid increases in arrivals are supporting high levels of growth in Bahrain’s tourism industry, with projections that expansion will be sustained to the end of the decade and beyond. Tourism has become one of the main draws for foreign direct investment (FDI) in the Bahraini economy, attracting 75% of the $281m of inbound investments recorded last year, according…
At the end of 2016 the government reaffirmed its commitment to Bahrain’s$32bn infrastructure pipeline as a key driver of economic growth. These projects – to be implemented in the medium term – include a major upgrade of its international airport, road-building schemes, a new railway link with Saudi Arabia, utilities developments and logistics support, along with investments in housing,…
Etiquette Business etiquette is similar to that in France. A handshake is appropriate for both men and women upon first meeting someone new. When a woman meets someone for the second time, three kisses on the cheek, just as in some regions in France, are an appropriate greeting. Before discussing business, it is considered polite to break the ice by discussing family, health or the weather. Health Waiting…
Bahrain has continued to offset the effects of the drop in oil prices with a host of measures, including moves towards subsidy reduction. A series of big-ticket projects are under way in a number of sectors and the government is pushing ahead with its all-important diversification initiatives, with a $32bn investment strategy fuelling activity across a variety of areas of the economy. Ongoing investment…
Like its Gulf neighbours, Bahrain has continued to offset the effects of the drop in oil prices with a host of measures, including moves towards subsidy reduction, now in place to ease the pressure. Despite the downturn, however, the country has continued to push ahead with many big-ticket projects. Counter-cyclical spending in the energy sector is expected to stand the broader economy in good ste
Bahrain, like other financial centres in the GCC, has successfully marketed itself as a low-tax environment in a bid to attract investment from across the globe. The majority of companies operating in the kingdom face no corporate tax at all, with only gas and oil companies engaged in exploration, production and refining facing a levy on income of 46%. There is no taxation at all on dividends,…
