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  • CBB confirms VAT exemptions for banking, financial services

    December 29, 2018 11:41 AM 9

    MANAMA: The Central Bank of Bahrain (CBB) has confirmed exemption of Value Added Tax for the Financial Sector and Banking Services ahead of VAT kick off on January 1st, 2019. The Central Bank said the banking transactions will not be subject to VAT either on loan interests, deposits or withdrawals from accounts either cash or cheques, including withdrawal

  • Kanoo Machinery hosts Hitachi Open Day

    December 23, 2018 5:57 PM 21

    Manama: Kanoo Machinery a fully owned business division of Yusuf bin Ahmed Kanoo (YBA Kanoo) Group hosted Hitachi’s Open day in its Sitra premises. Hitachi a Japanese manufacturer of heavy – duty construction products displayed its latest excavators, trucks and construction machinery which are currently available in the Gulf Region. The event was attended

  • Zain Bahrain marks 15th anniversary with exciting offers

    December 23, 2018 5:53 PM 15

    Manama: Zain Bahrain, a leading telecommunications provider in the Kingdom celebrates its 15th anniversary with success by rewarding its existing and new customers with value-added offers starting 20th December. Zain Bahrain has lined up an exciting range of product promotions and offers to all Zain existing and new customers under the number “15”. All Zain customers

  • Clifford Chance advises ENGIE on $1.31b Al Dur transaction

    December 23, 2018 5:49 PM 13

    MANAMA: Clifford Chance has advised ENGIE, a world leader in the energy transition, on the refinancing of the Al Dur Power and Water Project in Bahrain. Awarded in 2008 to a consortium of ENGIE and Gulf Investment Corporation (GIC), the Al Dur IWPP is a flagship power project in Bahrain, accounting for one-third of the country’s power and water production

  • IIFM facilitates trade flow in the cross-border markets

    December 23, 2018 5:42 PM 14

    Manama: The 39th meeting of the Board of Directors of the International Islamic Financial Market (IIFM) was convened in Bahrain and was attended by representatives from its founding and permanent members namely the Central Bank of Bahrain, Bank Indonesia, Central Bank of Sudan, Autoriti Monetari Brunei Darussalam and the Islamic Development Bank as well as representatives

  • Bahrain’s economic outlook stable, says rating agency

    December 20, 2018 8:53 AM 13

    MANAMA: Moody’s has today changed the outlook to stable from negative on the Government of Bahrain’s issuer ratings and affirmed the ratings at B2. The key driver of the outlook change to stable is Moody’s assessment that Bahrain’s government and external liquidity risks, while remaining elevated, have materially reduced following the announcement of a $10 billion

  • UAE Exchange celebrates Bahrain National Day

    December 20, 2018 8:42 AM 11

    MANAMA: UAE Exchange Bahrain has celebrated Bahrain National Day across all the branches as well as at the Country Head Office in Manama along with their Bahraini colleagues and customers. The event at the Head Office took place in the presence of Senior Officials of the Company. As part of the celebrations, the Management congratulated their Bahraini

  • AFS achieves top data security certification

    December 10, 2018 3:18 PM 8

    Manama: Arab Financial Services (AFS), the MEA region’s leading payment solutions provider and FinTech enabler, has been awarded the Payment Card Industry Data Security Standards (PCI DSS v3.2.1) certification by SISA Information Security WLL, the Middle East’s leading Qualified Security Assessor and provider of PCI-validated solutions. AFS’ latest certification

  • Bahrain visit visa ordeal for Pakistanis to resolve in 2019

    November 14, 2018 6:53 PM 14

    MANAMA: The ordeal for the visit visa for Pakistanis to enter Bahrain, which has entered into the fifth month, is likely to be resolved by the first quarter of 2019 at the earliest. The24X7News Bahrain ( has learnt that the situation will remain the same till February or March 2019. Informed sources at the Pakistan embassy

  • Israel exists as a State for past 70 years, Omani FM

    October 29, 2018 3:17 PM 10

    MANAMA: Israel is a reality and denial to its existence will only complicate the situation in the Middle East. “The denial to Israel’s statehood will only complicate the already complex and fragile security landscape in the region,” says Yousef Bin Alawi, the Minister for Foreign Affairs, State of Oman. Omani Foreign Minister told the audience while