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 […]
Food sustainablity in Bahrain to get a boost from greenhouse development.
The Special Projects Office of the Ministry of Works, Municipality Affairs and Urban Planning has invited expressions of interest (EoIs) to develop two hydroponic greenhouses as part of the Food Sustainability Initiative. The winning bid will be based on the BOOT model – build, own, operate and transfer. To read more click here.
Infrastructure projects in Bahrain still going ahead in line with the objectives of the Bahrain Economic Vision 2030.
Bahrain is still committed to major infrastructure projects despite the current uncertainty felt around the world due to COVID-19. In quarter one of this year, a total of 372 tenders worth $740 million was awarded according to Bahrain Tender Board. Some of the key projects include Bahrain Petroleum Company (Bapco) refinery modernisation project, Bahrain International […]
Optimistic view of the speed of Bahrain’s economic recovery post-corona
Economists and businessmen discussed the path of post-corona recovery phase in most sectors and were optimistic in Bahrain’s ability to recover quickly after Covid-19. abc-bahrain.com, 26 April, 2020 Bahrain’s economy has sufficient flexibility to overcome the repercussions of the coronavirus crisis and it will be able to recover quickly once the precautionary measures are eased, heard […]
The Bahrain International Circuit joins the worldwide fight against COVID-19 with Ministry approved ventilators.
Engineers from the Bahrain International Circuit have designed and produced ventilators for COVID-19 patients and are now available following approval from the Ministry of Health. The blueprints will be made available worldwide for free. Constructionweekonline.com 22 April, 2020 Bahrain’s F1 circuit will produce hundreds of ventilators for COVID-19 patients – and share the blueprints free […]
Construction of the new exhibition and convention centre in Sakhir to begin soon
Work on the new state-of-the-art exhibition and convention centre located in Sakhir next to the Bahrain International Circuit will start in May and will be completed in two years. The project will be the largest of its kind in the region. GDNonline.com 22 April, 2020 WORK on the new exhibition and convention centre in Sakhir […]
Commercial and industrial businesses in Bahrain that provide a direct service to customers are now able to resume trading on Thursday but must adhere to strict precautions.
Asharq Al-Awsat 8 Apr, 2020 Bahrain announced the resumption of commercial and industrial activities that provide direct services to customers as of Thursday, under strict precautions and health measures that include continuous sterilization, reducing the number of employees, working remotely as much as possible, and ensuring social distancing. The announcement came in a press conference […]
