Bahrain, the first Gulf country to discover oil, is navigating the energy transition by focusing on renewables, energy efficiency and sustainability. Legislation introduced in 2023 rebranded the parent company of Bahrain’s oil and gas companies as Bapco Energies, highlighting the kingdom’s readiness to embrace opportunities in the energy transition and achieve sustainable targets. The kingdom…
Bahrain’s capital markets are aiming to increase activity, with the GCC region experiencing a surge in initial public offerings. Both corporate and government entities are turning to debt and securities, particularly sovereign bonds, which attract investors seeking to reduce portfolio risk amid global economic uncertainty. The kingdom’s diversified economy, bolstered by a robust financial services…
Bahrain’s insurance sector saw both conventional and Islamic underwriters reporting strong premium and earnings in 2023. The outlook for 2024 and beyond is even more promising, with projected economic growth of 3%, driven by the non-oil sector. This development is expected to increase demand for commercial, property and other insurance products. Additionally, the rollout of a mandatory health insurance…
Bahrain has established itself as a global financial services destination, with the financial sector being the largest contributor to the economy, accounting for 17.8% of GDP in 2023. The kingdom’s financial technology infrastructure is expanding banking access to underserved demographics, and its financial services authorities are adopting policies to keep Bahrain influential in global banking…
Bahrain has made significant gains in its efforts to diversify away from hydrocarbons. The kingdom’s goals include a 30% reduction in carbon emissions by 2035 and carbon neutrality by 2060. Recent years have seen progress in renewable energy, sustainable urban development, ESG financing and water conservation. The country’s efforts are guided by Bahrain Economic Vision 2030, the country’s long-term…
Bahrain's economy is experiencing growth, guided by Bahrain Economic Vision 2030, the kingdom’s long-term socio-economic development plan, and driven by a dynamic private sector and rising foreign investment. Relatively low inflation and interest rate cuts in September and November 2024 enhance its appeal as a business destination. The country's robust financial services sector supports private…
Bahrain’s strategic location, business-friendly environment and proactive reforms have made it an attractive destination for international investors. The kingdom has a diverse economy, with a strong focus on financial services, industry and financial technology. Although hydrocarbons remain central to the economy, Bahrain has expanded its industrial and technology sectors. The country’s growing…
On September 1, 2024 Bahrain became the first GCC country to implement a domestic minimum top-up tax (DMTT) aligned with pillar two of the OECD base erosion profit shifting inclusive framework. The DMTT law applies the global minimum tax of 15% on Bahraini constituent entities of multinational enterprises (MNEs) and contains key operative provisions of pillar two of the OECD global anti-base erosion…
Bahrain has seen its economy expand through diversification efforts, with a focus on finance, industry and technology. Projects in infrastructure, digital transformation and tourism aim to drive growth and attract foreign investment. The kingdom is committed to sustainability, targeting a 30% reduction in carbon emissions by 2035. The financial sector is a key contributor with innovation in financ
MEET ICT and BITEX 2024 are taking place on 03-05 December 2024 at the Gulf Convention Centre in the Kingdom of Bahrain. This year's theme, "AI for All", highlights the crucial need for artificial intelligence to be accessible and inclusive for everyone. As AI continues to revolutionize industries and shape our daily lives, it is imperative to ensure that its benefits are not limited to a select…
