Latest news with #BD81
Gulf Insider
17-04-2025
- Gulf Insider
Man Jailed, Fined BD100,000 For Fake Investment Scam
A man has been jailed for five years and fined BD100,000 after collecting money from the public on the pretext of investing it without holding the required licence. The High Criminal Court also ordered him to repay the funds to those who handed over their savings. Prosecutors said the man took around BD81,000 from several people after persuading them that he would use the cash for trading in telecom devices and for the installation and servicing of air conditioners. Investigation When complaints began to surface, the Public Prosecution launched an investigation. The man was questioned and admitted to receiving the money without any formal permission to manage other people's investments. He was kept in custody while the investigation ran its course. Accounts Officers interviewed all those who had been drawn in, and police checks backed up their accounts. A letter from the Central Bank of Bahrain confirmed that the man had no permit to carry out investment activities involving funds belonging to others. Once the file was complete, the case was passed to the court. Judges, having reviewed the material, delivered the sentence. Also read: 25 Illegal Workers Detained And 128 Violators Deported
Daily Tribune
16-04-2025
- Daily Tribune
Man jailed, fined BD100,000 for fake investment scam
A man has been jailed for five years and fined BD100,000 after collecting money from the public on the pretext of investing it without holding the required licence. The High Criminal Court also ordered him to repay the funds to those who handed over their savings. Prosecutors said the man took around BD81,000 from several people after persuading them that he would use the cash for trading in telecom devices and for the installation and servicing of air conditioners. Investigation When complaints began to surface, the Public Prosecution launched an investigation. The man was questioned and admitted to receiving the money without any formal permission to manage other people's investments. He was kept in custody while the investigation ran its course. Accounts Officers interviewed all those who had been drawn in, and police checks backed up their accounts. A letter from the Central Bank of Bahrain confirmed that the man had no permit to carry out investment activities involving funds belonging to others. Once the file was complete, the case was passed to the court. Judges, having reviewed the material, delivered the sentence.
Zawya
27-01-2025
- Business
- Zawya
Bahrain's non-oil exports of national origin hit $2.6bln in Q4
The value of non-oil exports (National Origin) has decreased in Q4 2024 by 1% hitting BD1.002 billion ($2.64 billion) compared to BD1.01 billion ($2.67 billion) for same quarter in 2023. The top 10 countries accounted for 71% of the total export value, according to the Information & eGovernment Authority (iGA). The Kingdom of Saudi Arabia ranked first among countries for then non-oil exports (National Origin) with BD230 million (23%) followed by the US in the second spot with BD130 million (13%) and UAE in the third place with BD81 million (8%), stated iGA in its 2024 Foreign Trade report, which encompasses data on trade balance, imports, national origin exports and re-exports. Unwrought Aluminum Alloys recorded as the top products exported in Q4 netting BD278 million (28%), followed by Agglomerated Iron Ores and Concentrates Alloyed with a value of BD120 million (12%) and Unwrought Aluminum not alloyed with BD77 million (8%). As per the iGA report, the value of non-oil imports has increased by 1% reaching BD1.49 billion in Q4 2024 when comparison to BD1.47 billion for same quarter in 2023. The top 10 countries for imports recorded 71% of the total value of imports, it added. China ranked first for imports to Bahrain, with a total of BD215 million (14%), followed by Australia with BD158 million (11%) and UAE with BD114 million (8%). According to iGA report, Other Aluminum Oxide recorded as the top product imported to Bahrain with a total value of BD149 million (10%), followed by Non-Agglomerated Iron Ores and Concentrates with BD112 million (8%) and Parts for Aircraft Engines being the third with BD66 million (4%). The total value of non-oil re-exports for Q4 surged by 13% to hit BD212 million compared to BD188 million for same quarter in 2023. The top 10 countries in Re-exports accounted for 80% of the re-exported value, stated the report. The UAE ranked first with BD72 million (34%) followed by Kingdom of Saudi Arabia with BD48 million (23%) and Belgium with BD11 million (5%), it added. According to iGA, the turbo-Jets were the top product re-exported from Bahrain with a value of BD33 million (16%), followed by Four Wheel Drive BD24 million (11%), and Gold Ingots came third with BD15 million (7%). As for the Trade Balance, which represents the difference between exports and imports, the deficit recorded BD277 million dinars in Q4 2024 compared to a deficit of BD275 million in Q4 2023, it added.
Trade Arabia
26-01-2025
- Business
- Trade Arabia
Bahrain's Q4 nonoil exports of national origin hit $2.6bn
The value of non-oil exports (National Origin) has decreased in Q4 2024 by 1% hitting BD1.002 billion ($2.64 billion) compared to BD1.01 billion ($2.67 billion) for same quarter in 2023. The top 10 countries accounted for 71% of the total export value, according to the Information & eGovernment Authority (iGA). The Kingdom of Saudi Arabia ranked first among countries for then non-oil exports (National Origin) with BD230 million (23%) followed by the US in the second spot with BD130 million (13%) and UAE in the third place with BD81 million (8%), stated iGA in its 2024 Foreign Trade report, which encompasses data on trade balance, imports, national origin exports and re-exports. Unwrought Aluminum Alloys recorded as the top products exported in Q4 netting BD278 million (28%), followed by Agglomerated Iron Ores and Concentrates Alloyed with a value of BD120 million (12%) and Unwrought Aluminum not alloyed with BD77 million (8%). As per the iGA report, the value of non-oil imports has increased by 1% reaching BD1.49 billion in Q4 2024 when comparison to BD1.47 billion for same quarter in 2023. The top 10 countries for imports recorded 71% of the total value of imports, it added. China ranked first for imports to Bahrain, with a total of BD215 million (14%), followed by Australia with BD158 million (11%) and UAE with BD114 million (8%). According to iGA report, Other Aluminum Oxide recorded as the top product imported to Bahrain with a total value of BD149 million (10%), followed by Non-Agglomerated Iron Ores and Concentrates with BD112 million (8%) and Parts for Aircraft Engines being the third with BD66 million (4%). The total value of non-oil re-exports for Q4 surged by 13% to hit BD212 million compared to BD188 million for same quarter in 2023. The top 10 countries in Re-exports accounted for 80% of the re-exported value, stated the report. The UAE ranked first with BD72 million (34%) followed by Kingdom of Saudi Arabia with BD48 million (23%) and Belgium with BD11 million (5%), it added. According to iGA, the turbo-Jets were the top product re-exported from Bahrain with a value of BD33 million (16%), followed by Four Wheel Drive BD24 million (11%), and Gold Ingots came third with BD15 million (7%). As for the Trade Balance, which represents the difference between exports and imports, the deficit recorded BD277 million dinars in Q4 2024 compared to a deficit of BD275 million in Q4 2023, it added.
