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Bahrain expo, convention centre on track for 2022 delivery
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March 16 2021
The trend of consolidation continues to dominate the business scene in Bahrain s financial industry. This has been led by the completion of the public takeover offers of Bahrain Islamic Bank by the National Bank of Bahrain and further announcements relating to the acquisition of Ithmaar Bank by the Bank of Bahrain and Kuwait (BBK), as well as an auction of the closely held Bahrain AXA insurance firm. BBK s acquisition would bear similarities to the Bahrain Islamic Bank acquisition, in that a conventional bank would acquire an Islamic bank.
There has also been a notable increase in reorganisations, with major international players often buying out local partners, including in the food and beverage manufacturing industry and within the engineering field.
American Trade Zone to be set up in Bahrain
MANAMA, January 13, 2021 Bahrain s Ministry of Industry, Commerce and Tourism has signed a memorandum of understanding, establishing an American Trade Zone in the kingdom. Industry, Commerce and Tourism Minister Zayed bin Rashid Alzayani sealed the deal yesterday with US Secretary for Trade Wilbur Ross, said a Wam news agency report. “The availability of economic opportunities in our region is an ideal opportunity for American companies to invest and expand their business by establishing in the Kingdom of Bahrain, said Alzayani. He said that the deal would usher in wider horizons for strengthening the joint trade relations in accordance with the advantages of the Free Trade Agreement binding Bahrain and the USA.
Bahrain, US sign deal to establish commercial zone Asharq
The volume of merchandise traded between the US and Bahrain reached $2.45 million in 2019, with an additional $1.5 billion in services. (Reuters/File)
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https://arab.news/cnsys DUBAI: The Bahraini Ministry of Industry, Commerce, and Tourism and the US Department of Commerce on Tuesday signed a memorandum of understanding (MoU) to promote bilateral business by establishing an American trade zone in Bahrain. The new zone is aimed at boosting economic, commercial, and industrial cooperation between the two countries, the Bahrain News Agency (BNA) reported. Under the terms of the MoU, the US and Bahrain will promote the zone as a regional hub for trade, manufacturing, logistics, and distribution among American companies in Bahrain, the GCC, and beyond.
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