• The GCC Financial Forum 2019
EDB’s roadshow in India concludes on a high note

EDB’s roadshow in India concludes on a high note

Bahrain’s economic delegation concluded its roadshow in India on a high note with several leading Indian companies expressing their interest in strengthening their ties with companies in the Kingdom. The visit was part of the EDB’s efforts to attract investments to the Kingdom to contribute to the creation of jobs in the local market. The delegation’s activities were centred in Mumbai, India. Organised by the Bahrain Economic Development Board (EDB) to promote investment opportunities in Bahrain, the delegation included officials from the EDB, the Central Bank of Bahrain and representatives of the private sector.

During the visit, Bahraini delegation met with officials from leading Indian companies, with ties to major international businesses, in the areas of trade, entertainment, financial services, Fintech, consultations, business solutions and ICT. The EDB organised a business forum to discuss opportunities with around 100 Indian investors and sector representatives. The visit also saw the signing of an agreement between the EDB and the Indian state of Maharashtra to create a framework for cooperation in the promotion of innovation in financial technology and to provide mutual support to the financial technology environment through training programmes.

Dr Simon Galpin, Managing Director at Bahrain Economic Development Board, said: “I am very optimistic about the results of this roadshow that will pave the way to a strategic partnership on the government side and between Bahraini and Indian businesses in vital sectors such as fintech, financial services, and ICT.” According to the latest statistics, trade between both countries has exceeded $1 billion. Bahrain’s industrial diversification policy has played a major role in boosting economic cooperation with India. Currently, there are more than 23 branches of Indian banks and companies registered in Bahrain, in addition to 3,181 joint ventures registered in Bahrain.

The Economic Development Board has attracted 76 companies with a total investment of BD305 million ($810 million), surpassing the record achieved by the Board in 2017 when it attracted 71 companies with a total investment of BD276 million ($733 million). Direct investments in the first nine months of 2018 were almost five times higher than investments in all of 2015.




Prickly pears

Prickly pears

For generations Algerians like the Gueldasmi family have barely eked out a living growing prickly pear fruits, but thanks to the cactus’s new found virtues their lives are steadily improving. “Now, my future is here. There

Crude hits 2019 high above $65

Crude hits 2019 high above $65

Brent crude oil climbed above $65 a barrel to its highest this year as OPECled supply cuts and this week’s announcement of a higher than expected cut by Saudi Arabia encouraged investors. The international oil benchmark reached $


Archaeologists discover Incan tomb

Archaeologists discover Incan tomb

Peruvian archaeologists discovered an Incan tomb in the north of the country where an elite member of the pre-Columbian empire was buried, one of the investigators announced Friday. The discovery was made on the Mata Indio dig site in the northern Lambayeque region, archaeologist Luis Chero told

India mourns dead soldiers

India mourns dead soldiers

Thousands of mourners across India attended funerals yesterday for some of the 41 soldiers killed in a suicide bombing in Indian-administered Kashmir as a round-the-clock curfew remained in force in part of the restive region. The paramilitary troops were killed on Thursday as explosives packed i

Disarmament must include China: Merkel

Disarmament must include China: Merkel

China must be involved in international disarmament efforts, German Chancellor Angela Merkel said yesterday, amid rising concern about Beijing’s missile arsenal and the suspension of a key US-Russia arms treaty. “Disarmament is something that concerns us all and where we would

GAA gets nod to purchase new full flight simulator

GAA gets nod to purchase new full flight simulator

The Gulf Aviation Academy (GAA) Board of Directors approved ambitious expansion plans for 2019 during a regular meeting chaired by the Minister of Transportation and Telecommunications and GAA Chairman, Kamal Ahmed. The plans include purchasing a fourth Airbus A320 Full Flight Simulator (FFS) and

Workshop focuses on VAT challenges for SMEs

Workshop focuses on VAT challenges for SMEs

Adopting proper VAT procedures can take up to four months while careful planning will help SMEs avoid common pitfalls, VAT experts observed. This came as Tamkeen held a workshop titled ‘The Roll-out of VAT in Bahrain’. The event, co-hosted by Tamkeen and Sage, with participati

Broadening tourism horizons

Broadening tourism horizons

In line with its efforts to attract tourists from across the world to the Kingdom, the Bahrain Tourism and Exhibitions Authority (BTEA) officially inaugurated its latest representative office in Kuwait, which was announced during a press conference held at the Four Seasons Hotel, Kuwait.

Bahrain attends Munich Security Conference

Bahrain attends Munich Security Conference

The Ambassador of the Kingdom, Abdulla Abdullatif Abdullah, chaired the Kingdom’s delegation participating in the 55th Munich Security Conference (MSC), held in Munich from February 15 to17, with the participation of a number of heads of states and governments as well as foreign and de

Sinai blast condemned

Sinai blast condemned

Bahrain yesterday condemned the terrorist attack that targeted a security checkpoint in North Sinai, Egypt, which resulted in the martyrdom and injury of a number of security officers. The Ministry of Foreign Affairs expressed its sincere condolences to the families of the victims and wished the

IS on brink of defeat

IS on brink of defeat

A US-backed force in Syria is closing in on Daesh militants in a tiny area less than a square kilometer (square mile) in eastern Syria, and will soon declare the defeat of the militant group, a commander with the group said Saturday. The capture of the last pocket still held by Daesh figh

Rita Ora among £3.4m fraud victims

Rita Ora among £3.4m fraud victims

An accountant has admitted defrauding high-profile clients, including pop star Rita Ora, out of about £3.4m. Andrew Munday, 37, targeted the former X Factor judge and others, using the money from the fraud to buy houses. His offe

Katy Perry, Orlando Bloom engaged

Katy Perry, Orlando Bloom engaged

Singer Katy Perry says she got engaged to actor Orlando Bloom on Valentine’s Day this year, following a three-year on-off romance. The “Part of me” hitmaker on Friday took to Instagram to share the news, reports daily