BAHRAIN NEWS AND BUSINESS UPDATES

Your starting point for all the latest news stories concerning business, legal and other stories and events concerning Bahrain and the Gulf region.

Petrofac awarded multi-million contract for oilfield services in Bahrain.

Tatweer Pretroleum has awarded a multi-million dollar contract to Petrofac, a leading provider of oilfield services. Pretrofac’s Engineering and Production Services division (EPS) was awarded the contract to provide engineering, procurement, construction and commissioning of an upstream gas project in Bahrain. Petrofac has been in Bahrain since 2015 and has successfully completed several oilfield contracts. […]

Work on construction of the temporary jetty for $4.2 billion Bapco Modernisation Programme (BMP) set to begin.

Work on the Bapco Modernisation Program (BMP) is ready to begin with the construction of the temporary jetty in north west Sitra. The work is being done by TechnipFMC JV (joint venture between Technip FMC, Spanish contracting firm Technicas Reunidas, and Korea’s Samsung Engineering) with the aim of expanding the capacity of the existing Sitra […]

The National Bereau of Revenue (NBR) in Bahrain releases its VAT guide for the oil and gas sector.

The guide provides general information on the VAT rules and procedures, and guidance on specific VAT treatment for supplies related to upstream, midstream, and downstream sectors. The guide should be read together with the VAT General Guide issued by the NBR. To view a copy of the guide on the NBR website click here.

Bahrain’s leading digital solutions provider has launched its global SD-WAN service

Batelco has launched its software-defined wide area network (SD-WAN) service enhancing customer experiences and providing the optimal digital commerce platform. The end-to-end networking solution will seamlessly blend MPLS, Internet and LTE technologies into a single communication channel. To read more click here.

Tamkeen’s Business Continuity Support Program has supported over 10,000 small firms so far.

Applications made to Tamkeen are still currently under review and will expedite payments to businesses in heavily impacted industries. They have extended its support to cover taxi cabs, public transport and bus drivers, driving instructors and kindergarten workers. To read more click here.

Investor protection funds program ensures adequate treatment of unclaimed dividends.

Unclaimed dividends will now be addressed under a new investor protection funds program set up by the Bahrain Bourse. The ‘Amanat’ program covers investor protection and management, and administration of cash dividends for listed companies. Bahrain Clear, as the appointed asset manager, will ensure the appropriate mechanisms are in place including auditing and reporting. To […]