Latest news with #BHD
Daily Tribune
6 hours ago
- Business
- Daily Tribune
Nine firms compete for Sitra Central Market maintenance contract
Nine companies are competing for the contract to carry out maintenance work at Sitra Central Market, with bids ranging from BHD 136,000 to over BHD 352,000. The Tender Board opened the submissions, which were issued by the Ministry of Municipalities Affairs and Agriculture. The tender covers civil repairs, mechanical and electrical work, fire alarm systems, and other maintenance tasks essential for the market's upkeep. Saraya Contractors Co. W.L.L. submitted the lowest bid at BHD 136,331.350, while Aqua Technology Transfer W.L.L. offered the highest at BHD 352,298.475. All nine bids have been accepted for evaluation. The contract will be awarded to the bidder that meets all technical and procedural requirements. According to the tender rules, companies must be classified by the ministry as building contractors graded E or above, or as maintenance firms ranked C or higher. Sitra Central Market serves local communities daily, and this maintenance project aims to keep the facility fully operational and well-maintained.
Biz Bahrain
23-05-2025
- Business
- Biz Bahrain
BDB Joins Hope Talents' 'Employee Loyalty Rewards' Programme
Bahrain Development Bank (BDB), the Kingdom's leading bank in supporting small and medium enterprises (SMEs), has announced its participation in the Employee Loyalty Rewards Programme launched by Hope Talents. The initiative offers generous monthly cash prizes to employees across participating organisations, reinforcing a culture of appreciation and engagement in the workplace. BDB's involvement marks a significant addition to its ongoing efforts to cultivate an inclusive and motivating work environment. By embracing innovative incentive schemes that reward commitment and performance, the Bank seeks to elevate job satisfaction and enhance overall productivity. The Employee Loyalty Programme includes three monthly prize draws. The first draw recognises one individual from each participating organisation, while the second features a grand prize open to all personnel across partner entities. The third draw is exclusive to young professionals, awarding BHD 1,000 each month to one winner. Through this initiative, BDB continues to broaden its employee benefits, further embedding a strong sense of corporate value. It meaningfully complements the Bank's internal engagement efforts towards ensuring a positive effect on overall team performance and job fulfilment. Commenting on this occasion, Mrs. Hend Mahmood, Chief Human Resources Officer at BDB stated, 'BDB believes in recognising the efforts of its team and appreciating their contributions. Our participation in this programme is a clear reflection of this belief and of our commitment to offering valuable benefits that strengthen organisational loyalty. We are also proud to be part of a national initiative that deepens connections between institutions and the community while supporting Bahraini enterprises.' For her part, Latifa Mohammed, General Manager of Hope Talents said, 'BDB's inclusion is a strategic step for our initiative, given their pivotal role in empowering national talent. We value this collaboration, which demonstrates the Bank's commitment to adopting innovative approaches to motivate employees and enhance job stability, key components of a productive and sustainable environment.' BDB remains committed to supporting national endeavours that prioritise human capital as a strategic pillar. The Bank continues to invest in people as a core driver of sustainable growth, cementing its position as an attractive and inspiring workplace. Hope Talents is a social development venture under the Hope Fund focused on creating innovative incentive solutions that enhance employee experiences across public and private sector entities, thereby contributing to sustainable organisational growth.
Biz Bahrain
20-05-2025
- Business
- Biz Bahrain
Mazad Launches Online Auction for the Sale and Dismantlement of Riffa Power Station
Mazad W.L.L, a local portfolio company of Bahrain Mumtalakat Holding Company 'Mumtalakat' mandated with overseeing the Kingdom of Bahrain's public and electronic auctions, has announced the launch of an online auction for the sale and dismantlement of the Riffa Power Station (RPS) Phase 1 (Riffa 1) along with its spare parts. The auction, which will be conducted through Mazad's digital platform, offers a unique opportunity for investors and contractors to bid on this significant project. The starting bid for the power station is set at BHD 200,000, while the spare parts have a starting bid of BHD 50,000. Key details of the auction: • Auction End Date: Thursday, June 12, 2025, at 12:00 PM Bahrain Time (9:00 AM GMT) • Items included: Diesel fuel, Axial Turbine & Compressor, Turbine & Compressor Casing, Combustion Chambers, Burners, Air Intake Filter House with Filters, Generator Inlet Air Filter House & Filters, Gear Box, Turbine Exhaust Ducts, Exhaust Stacks, AC Motors, Compressor Blow-Off Valves, Oil Pumps, Aux Lube Oil Pumps, and more. The successful bidder will be responsible for the complete dismantlement and removal of the power station, including obtaining all necessary permits from the Supreme Council for Environment (SCE), Municipality, and other relevant authorities. The contractor must also ensure compliance with all environmental and safety regulations throughout the project. EWA confirmed that the sale and dismantling of the first phase of the Riffa Power Plant through the electronic auction represents a strategic step in integrating operational efficiency with environmental sustainability. It reflects the Authority's commitment to adopting innovative solutions for asset repurposing in line with the national development goals and Bahrain's Vision 2030. This collaboration between EWA and Mazad falls within a broader framework aimed at enhancing transparency and maximizing the value derived from existing assets. Additionally, through this project, EWA aim to reduce waste and enhance environmental protection, serving as a testament to our dedication to the green transformation and supporting Bahrain's national energy transition plan. Talal Al Araifi, Chief Executive Officer at Mazad, stated, 'This auction represents a significant opportunity for investors and contractors in the energy sector. We are committed to ensuring a transparent and competitive process, leveraging our digital platform to reach the widest possible audience of potential buyers at a global level ensuring we contribute to a greener future. ' Interested bidders can access comprehensive project information and related documentation through the official website or the Mazad mobile application. For further inquiries or to arrange viewings, please contact +973 17778887 or email [email protected]. Mazad encourages all potential bidders, including overseas companies, to review the comprehensive bidding requirements and submit the necessary documentation as outlined in the auction details. This project aligns with Bahrain's commitment to sustainable development and efficient resource management, offering an opportunity to repurpose valuable assets while adhering to strict environmental and safety standards.
Biz Bahrain
20-05-2025
- Business
- Biz Bahrain
BDB Launches Rewards Campaign for New Current Account Holders
Bahrain Development Bank (BDB), the Kingdom's leading financial institution supporting small and medium-sized enterprises (SMEs), has launched a new campaign that rewards entrepreneurs for opening current accounts. The initiative underscores BDB's continued efforts to simplify banking access and enhance financial inclusion for the SME sector. As part of the campaign, five customers who open their BDB current accounts between 18th and 31st May 2025 will be awarded a cash prize of BHD 500 each. Winners will be selected through a draw conducted under the supervision of the Ministry of Industry and Commerce. This initiative forms part of BDB's broader strategy to deliver accessible and flexible banking services that align with the operational needs of SMEs. Customers opening current accounts during the campaign period will also benefit from the tijara platform, which is Bahrain's first end-to-end digital banking solution built exclusively for SMEs. It empowers entrepreneurs with streamlined account management, seamless transactions, and dedicated features that simplify business banking. Commenting on the occasion, Mr. Ali Al Aradi, Chief Banking Officer of BDB said, 'As a key enabler of entrepreneurial growth in the Kingdom, we remain steadfast in our mission to provide SMEs with agile financial solutions that serve their evolving needs. This campaign highlights our ongoing commitment to financial empowerment and aligns with Bahrain's Vision 2030, which aims to diversify the economy and foster digital innovation.' BDB continues to play a vital role in strengthening Bahrain's SME ecosystem through its comprehensive suite of offerings that include tailored financing products, specialised advisory services, and innovative banking solutions. The Bank also seeks to expand strategic partnerships with public and private sector entities that ensure business sustainability and contribute to long-term economic progress.
Daily Tribune
19-05-2025
- Business
- Daily Tribune
Bahrain Records Strong Growth
TDT | Manama Bahrain's economy showed solid momentum in the final quarter of 2024, according to the Bahrain Chamber of Commerce and Industry's report titled 'Overview of the Local Economy – Q4 2024'. The report recorded a 3.4 percent year-on-year increase in real GDP, driven by 4.6 percent growth in the non-oil sector. Leading this expansion were information and communication activities with a 12.4 percent surge, followed by transportation and storage at 11 percent, and manufacturing at 7 percent. Financial and insurance activities contributed the largest share to GDP at 17.3 percent. Trade trends Trade with GCC countries fell slightly by 2 percent compared to the same quarter a year earlier. However, trade with Qatar jumped significantly by 255 percent, reaching USD 116 million in Q4 2024. Saudi Arabia remained Bahrain's top export destination, while China led imports. Top export commodities included aluminum alloys, iron ores, and unwrought aluminum. On the import side, the leading items were aluminum oxide, smartphones, and aircraft engine parts. Spending and finance Point-of-sale transactions increased 14 percent to BHD 1.26 billion, with supermarket and department store spending growing by 26 percent and 29 percent respectively. Jewelry sales rose by 26 percent, while ATM withdrawals declined by 10 percent. Fawri+ transfers rose 12 percent, accompanied by a 10 percent increase in Fawri and 8 percent in Fawateer transactions, indicating stronger consumer confidence and broader adoption of digital payments. Business costs and inflation Interest rates on business loans saw a marked drop, particularly in the construction and real estate sector, where rates fell from 10.2 percent to 6.64 percent. Manufacturing and trade sectors also benefited from reduced borrowing costs. Inflation remained modest. The Consumer Price Index rose by just 0.5 percent year-on-year in December 2024. The largest price increases were seen in restaurants, communication services, and miscellaneous goods, while household furnishings declined. Global standing Manama ranked first globally in the financial category of the 'Global 150 Cities Index 2024'. Bahrain was also placed in the 'Role-Modeling' category in the Global Cybersecurity Index and ranked first in the Arab world in the Fraser Institute's Economic Freedom of the World Index. The chamber stated that the findings reflect the resilience of Bahrain's private sector and the country's improving economic fundamentals.
