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Analysis

Bahrain’s regulatory sandbox fuels growth in financial technology
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Bahrain’s financial technology (fintech) ecosystem has undergone significant changes in recent years as the country seeks to enhance its reputation for innovation in the financial services sector and stimulate the growth of start-ups. In September 2023 Benefit, a Bahraini fintech company providing electronic financial transaction services, finalised its acquisition of Bahrain FinTech Bay (BFB), which…

Analysis

Initiatives help insurance sector reduce climate change risk
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With the launch of a new joint initiative to support the countries most vulnerable to climate change, the global insurance industry is evolving in ways that could carry important implications for business in emerging markets. The initiative, the Global Shield against Climate Risks (GSCR), was announced by the ministers of finance of the Vulnerable Twenty (V20) Group – which comprises economies susceptible…

Analysis

Regional focus on ESG boosts Bahrain's green finance projects
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Following the COP28 UN Conference on Climate Change, hosted by the UAE in late 2023, GCC member countries have seen intensified regional efforts to expedite the energy transition, implement environmental strategies and establish new financial frameworks emphasising climate action. This shift has catalysed the emergence of new investment products and strategies that incorporate environmental, social…

Analysis

Emerging markets navigating the rising cost of solar power
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With high energy prices and supply chain disruptions creating shortages of renewable energy components and materials, emerging markets are reassessing how to build out utility-scale solar power to accelerate their energy transitions. After more than a decade of decline, the cost of solar photovoltaic (PV) panels has risen around the world, due primarily to the increasing cost of solar-grade polysilicon…

Analysis

Regional cooperation to boost Bahrain's tourism sector
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Bahrain’s Tourism Strategy 2022-26 aims to diversify the country’s economic portfolio and increase the sector’s contribution to GDP. Key targets of the strategy include attracting 14.1m tourists by 2026 and increasing average visitor expenditure and length of stay. The plan focuses on facilitating entry, developing tourist attractions, marketing and promoting tourism, and improving accommodation…

Analysis

Digital innovation contributes to resurgence in global travel
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The global tourism sector is gradually recovering from the impact of the Covid-19 pandemic. According to the UN Tourism’s World Tourism Barometer published in September 2024, international tourism reached 98% of pre-pandemic levels during the first nine months of that year, with an estimated 1.1bn international arrivals. This revival has been underpinned by the release of pent-up demand, increased…

Analysis

Bahraini residence permit to boost growth in real estate sector
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With new high-end villas and apartments coming on the market, filling them has been a challenge for Bahrain’s realtors, as the Gulf’s luxury segment is highly competitive. However, the kingdom’s new regulations regarding eligibility for long-term residency for foreign nationals are expected to boost Bahrain’s appeal to potential investors. In June 2023 the government issued an edict announcing…

Analysis

Urban cooling technologies help mitigate climate change impacts
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With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Heat Consequences The Covid-19 pandemic helped spur the growth of smart cities, with governments tapping into data-collection infrastructure…

Analysis

Bahrain focuses on workforce readiness and private sector engagement
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Bahrain’s commitment to bridging the skills gap between education and the labour market is evident in various national policies. Addressing companies’ historical preference for expatriate workers, the kingdom aims to boost employability among secondary and tertiary students. The initiatives helping raise workforce readiness include the 2021 Economic Recovery Plan; the National Labour Market Plan…

Analysis

Higher education developments to boost patent filing
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International patent filing maintained a steady pace in 2023 compared to previous years, with higher education playinga role in driving innovation and expanding international practices regarding intellectual property (IP). The UNWorld Intellectual Property Organisation (WIPO) Statistics Database reported in its March 2024 Patent Cooperation Treaty (PCT) review that in 2023, 272,600 international…