Latest news with #GovernmentofBahrain
Daily Tribune
18-04-2025
- Health
- Daily Tribune
Repatriated after 20 years in Bahrain
After nearly two decades of hardship in Bahrain, Mr. Iyyappan Murugaiyyan, an Indian national, has been successfully repatriated to India. Stranded since 2004 without valid documents and under a travel ban since 2006, Mr. Murugaiyyan faced severe health issues, including complications from diabetes that led to the amputation of two toes. His case remained dormant until revived by the coordinated efforts of the Pravasi Legal Cell (PLC) Bahrain Chapter, in collaboration with the Indian Embassy and various well-wishers. An Emergency Certificate was issued by the Embassy of India, and following several legal proceedings, the travel ban was lifted. His repatriation was facilitated with medical support and an accompanying person. Special thanks were extended to the Government of Bahrain, judicial authorities, Salmaniya Medical Complex, and Al Hilal Hospital for their compassionate assistance.
Daily Tribune
17-04-2025
- Business
- Daily Tribune
Bahrain Committed to Continuing Zero-Tariff Policy on US Goods
His Excellency Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, reiterated the historic and multifaceted relationship between Bahrain and the United States, underscoring the Kingdom's commitment to enhancing economic and trade ties. This commitment aims to further increase bilateral trade in alignment with their strategic partnership. In response to a proposal concerning the imposition of reciprocal tariffs on US imports submitted by a Member of Parliament, the Minister emphasised that the Government of Bahrain is committed to continuing its zero-tariff policy on US goods, and pursuing avenues to deepen trade relations with the United States building upon the landmark US-Bahrain Free Trade Agreement, implemented in 2006 as America's first FTA in the Gulf region, continuing to strengthen what has become a model economic partnership. Bahrain's strategic position as the Gateway to the Gulf has enabled bilateral trade between the two nations to grow from USD 780m in 2005 to nearly USD 3 billion today, supported by our full tariff-free access for US goods – a policy that contributed to a US trade surplus of over $440million with the Kingdom of Bahrain in 2024 and an accumulated trade surplus of $4.4 billion since 2006. The Kingdom of Bahrain has also cemented its role as a regional hub through initiatives like the dedicated US Trade Zone at Khalifa bin Salman Port, which provides an efficient gateway for American goods to reach the Kingdom of Bahrain and regional markets. The Minister concluded by affirming that Bahrain remains dedicated to fostering a supportive environment for trade and investment, ensuring that the benefits of this strong partnership continue to flourish for both nations.
Daily Tribune
14-03-2025
- Business
- Daily Tribune
CBB Announces Oversubscription of 2-Year Government Development Bond by 312%
The Central Bank of Bahrain (CBB) has revealed that the latest issuance of a 2-year Government Development Bond has been significantly oversubscribed, attracting a staggering 312% more in subscriptions than the BD 200 million on offer. A total of BD 623.635 million in subscriptions were received for the bond, which is set to mature in two years. The fixed annual coupon rate for this bond issue, which commences on March 17, 2025, and matures on March 17, 2027, is set at 5.625%. The bonds, issued by the CBB on behalf of the Government of Bahrain, represent Government Development Bond Issue No. 38 (ISIN BH00016A6F00). This oversubscription underscores the strong demand for Bahraini government debt, reflecting investor confidence in the nation's financial stability.
