Bahrain Sells $2 bln in Dual-Tranche Bonds with over $11 bln Demand : Document
Bahrain sold $2 billion in a dual-tranche bond issuance comprising 4-1/2-year sukuk, or Islamic bonds, and 10-year conventional bonds, a document showed on Thursday.
Rasheed Al-Maraj Re-Appointed as CBB Governor
King Hamad bin Isa Al Khalifa renewed the appointment of Rasheed Mohamed Al-Maraj as the Governor of Central Bank of Bahrain (CBB) for five years, Bahrain News Agency reported.
Bailed-out Bahrain may Need more Gulf Support as soon as this Year
Bahrain may need more financial aid from fellow Gulf Arab states as soon as this year but its wealthier neighbours could themselves be hamstrung by low oil prices and the economic impact of the new coronavirus, bankers and analysts said.
Bahrain Asks Gulf States to Move Closer Date for Planned Aid Package
Sources in the Ministry of Finance and National Economy said that Bahrain has asked the Gulf States to move closer date for planned aid package as part of the financial balance program.
Bahrain Raised $1 billion Loan to Repay Bond Last Month: Sources
Bahrain secured a loan of about $1 billion to repay a bond that was due at the end of March, three sources familiar with the matter said, after the Gulf state suspended plans to issue international debt due to bad market conditions.
Gulf States Approve Kuwait's Proposal to Create Unified Food Security Network
The Gulf Cooperation Council's (GCC) six Arab monarchies have approved Kuwait's proposal for a common network for food supply safety.
Bahrain Deficit to Reach 8% of GDP, Gulf States Budgets Deficit Touches 267 Billion
A recent report by "Arqaam Capital" predicted that the economies of the Gulf States will suffer a significant deficit for 2020 fiscal year, amid major pressures resulting from the sharp fall in oil prices and consequences of the Coronavirus outbreak.
Standard and Poor's Lowers Batelco's Outlook
Standard and Poor's Global Ratings revised its outlook on Batelco to stable from positive and affirmed its 'B+/B' long- and short-term issuer credit ratings.
Bahrain Pays back $1.25bln in Bonds
Bahrain has paid back $1.25 billion in bonds that matured on March 31, the Ministry of Finance and National Economy said on Wednesday.
Bahrain in Talks for $1 billion Loan after Bond Plans Suspended
Bahrain is in talks with banks for a loan of about $1 billion after the Gulf state's plans to issue international bonds were suspended due to bad market conditions, sources told Reuters.
Bahrain Authorises Finance Minister to Withdraw Funds to Deal with Coronavirus -State TV
Bahrain's cabinet authorised the finance minister on Monday to directly withdraw funds with a 5% ceiling from the public account to deal with emergency measures related to the coronavirus outbreak, state television reported.
Bahrain Central Bank Cuts Key Rates by 75 bps
Bahrain's central bank cut its key interest rates by 75 basis points (bps) on Monday, following the U.S. Federal Reserve, which slashed its rates to near zero a day earlier to bolster the economy as the coronavirus epidemic spreads.
Bahrain Central Bank Cuts Overnight Lending Rate to 2.45%
Bahrain's central bank cut its overnight lending rate to 2.45% from 4% "in light of the recent global developments," it said in a statement on Thursday.
Bahrain Central Bank Prohibits Freezing Accounts after Job Loss
Bahrain's Central Bank banned retail lenders from freezing accounts of customers who lost their jobs or after retirement.
Bahrain Central Bank Urges Banks to Ease Debt Terms, Fees due to Coronavirus
Bahrain's central bank on Thursday urged banks and financing companies to consider re-scheduling or granting deferrals on credit installments in light of the coronavirus outbreak, according to a circular seen by Reuters.
Bahrain Central Bank Cuts Key Rate by 50 bps
Bahrain's central bank said on Tuesday that it had decided to cut its key policy interest rate on the one-week deposit facility to 1.75% from 2.25%.
Inspired by Aramco IPO, Bahrain May Sell Stake in Oil Assets
Inspired by Saudi Aramco, Bahrain says it is considering selling a stake of its assets in the oil and gas sector as it seeks to reach financial balance by 2022.
Bahrain Deficit Shrinks to 4.7% of GDP in 2019
Bahrain's budget deficit shrank to 4.7% of gross domestic product (GDP) in 2019 from 6.3% a year earlier, the ministry of finance said on Monday citing preliminary fiscal results.
Bahrain Committed to Supporting Additional Oil Production Cut: Minister
Bahrain said on Monday it is committed to supporting an additional oil production cut of 600,000 bpd as recommended by Opec+'s joint technical committee at a meeting last week.
IMF: Oil-rich Gulf Arab states may Spend Savings in 15 Years
Energy-rich Gulf Arab states could burn through all their savings in the next 15 years as worries about climate change and supply from new competitors dampen oil prices, the International Monetary Fund warned on Thursday, advising the nations to rein in their spending.