Latest news with #BD250
Zawya
24-04-2025
- Business
- Zawya
Bahrain: Subscription for $663mln bond issue opens today
Bahraini and non-Bahraini investors can directly subscribe to the government's BD250 million development bond issue 39 starting today, the Bahrain Bourse (BHB) announced yesterday The subscription will be open through BHB's primary market via registered brokers today from 09.30am to 11am, the bourse said. The minimum subscription is 500 bonds per investor. The Central Bank of Bahrain (CBB) is issuing the two-year bond, maturing on April 29, 2027, on behalf of the government. The bond has a par value of BD1 and offers a fixed annual return of 5.75 per cent, payable semi-annually on April 29 and October 29. The bond is expected to be listed on BHB's secondary market for trading starting May 13. The government directly guarantees the bond securities. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Daily Tribune
23-04-2025
- Business
- Daily Tribune
Parliament approves BD100 rise in jobless benefits
A BD100 rise in unemployment benefits has been approved by Parliament, despite warnings from the government that the move could place extra strain on the national insurance fund. The Minister of Labour, in a formal letter, apologised for not attending yesterday's session to address Parliament's concerns. The new law raises monthly support from BD200 to BD300 for Bahrainis out of work with a university degree and from D150 to BD250 for those without. MPs who backed the proposal, along with the Services Committee, argued that the previous amounts no longer covered basic expenses, particularly with prices climbing and VAT in effect. The amendment, submitted in revised form by Parliament, targets Article 18 of the 2006 decree-law on unemployment insurance. Supporters described it as a needed step to ease the burden on those between jobs, especially younger Bahrainis preparing to marry or build a household. But not all MPs were content to leave the matter there. MP Jalal Kadhem described the move as a short-term fix. He said the fund ought to be channelled into national projects that could absorb Bahraini talent and offer steady jobs. 'This is a patchwork solution,' he said, adding that some allowances had grown into a drain on public money.
Gulf Insider
20-04-2025
- Gulf Insider
Bahrain: Appeal Verdict Set for African Man Jailed for Robbing BD250
Judges are expected to hand down their verdict on 28 April in the appeal of an African man sentenced to three years in prison and deportation for robbing an Asian man of BD250 during what appeared to be a routine lift to a money exchange. The victim had accepted a ride from the accused, who was behind the wheel, along with another passenger whose identity remains unknown. But instead of stopping at the agreed destination, the driver turned behind a row of shops and brought the vehicle to a halt. The passenger stepped out. The driver then claimed he had come across a bundle of banknotes said to belong to the passenger, and told the victim to remain in the car and keep quiet until the man returned. When the victim asked to get out, the driver locked the door. A couple of minutes later, the passenger returned and sat back in his seat, claiming BD3,500 had gone missing. The driver kept silent and failed to mention the cash he had allegedly found. The victim stayed quiet, too, unsure of what was unfolding. The passenger searched the driver but found nothing, then turned to the man seated behind him. The driver then told the passenger the victim had taken the money. The passenger turned in his seat, clamped an arm across the victim's chest and gripped his shoulder. He rummaged through his pockets, reached round to the back of his trousers, and pulled out his wallet. The victim tried to resist but was punched in the forehead. BD250 was removed from the wallet, which was then stuffed back into his pocket. The driver handed over the earlier stash of money. The passenger opened the door and shoved the victim out onto the street without returning the stolen cash. The two men then drove off.
Daily Tribune
20-04-2025
- Daily Tribune
Appeal verdict set for African man jailed for robbing BD250
Judges are expected to hand down their verdict on 28 April in the appeal of an African man sentenced to three years in prison and deportation for robbing an Asian man of BD250 during what appeared to be a routine lift to a money exchange. The victim had accepted a ride from the accused, who was behind the wheel, along with another passenger whose identity remains unknown. But instead of stopping at the agreed destination, the driver turned behind a row of shops and brought the vehicle to a halt. The passenger stepped out. The driver then claimed he had come across a bundle of banknotes said to belong to the passenger, and told the victim to remain in the car and keep quiet until the man returned. When the victim asked to get out, the driver locked the door. A couple of minutes later, the passenger returned and sat back in his seat, claiming BD3,500 had gone missing. The driver kept silent and failed to mention the cash he had allegedly found. The victim stayed quiet, too, unsure of what was unfolding. The passenger searched the driver but found nothing, then turned to the man seated behind him. The driver then told the passenger the victim had taken the money. The passenger turned in his seat, clamped an arm across the victim's chest and gripped his shoulder. He rummaged through his pockets, reached round to the back of his trousers, and pulled out his wallet. The victim tried to resist but was punched in the forehead. BD250 was removed from the wallet, which was then stuffed back into his pocket. The driver handed over the earlier stash of money. The passenger opened the door and shoved the victim out onto the street without returning the stolen cash. The two men then drove off.
Gulf Insider
05-04-2025
- Business
- Gulf Insider
Bahrain: Partner Ordered To Pay BD465,000 In Unpaid Capital Dispute
One company has been ordered to pay BD465,000 after walking away from its share in a million-dinar business venture, leaving its partner to carry the full cost. The High Civil Commercial Court also imposed an annual interest rate of 2 per cent, after hearing that the two firms had agreed to start a joint business but only one paid its share of the capital. Lawyer Shahnaz Ali said her client, the first plaintiff, and the defendant company had gone into partnership in a financial services firm, which appeared in the case as the second plaintiff. Her client covered the entire BD1 million in initial capital, based on an agreement that the other side would pay its portion later. That did not happen. The second defendant, who owns the first defendant company, later signed a document confirming he owed BD250,000. He pledged to repay the sum using profits, proceeds from selling part or all of the firm, or in cash. He also accepted that the first plaintiff had taken on extra expenses beyond the capital to cover losses the business had suffered. Despite that, no payments followed. Capital The partners later agreed to increase the capital from BD1 million to BD5 million. The authorised capital was set at BD4.65 million. This step, taken in response to mounting losses, led the plaintiffs to file a legal case. The court, citing the findings of an independent accountant, said the first plaintiff had paid BD4,150,000 into the company. In total, the funds transferred by the plaintiff amounted to BD5,169,538.
