Bahrain Articles & Analysis

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The two main general frameworks governing the preparation and presentation of the financial statements are the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP).

 

In 2007 the six-member GCC agreed in principle to try out a VAT on a collective basis. It is important to remember that oil was trading at above $140 per barrel in early 2008. Some nine years later, when oil was trading at around $30 per barrel, or 72% less than in 2007, the GCC states faced calls from international bodies including the IMF to...

 

The UK’s decision to leave the EU caught the financial markets by surprise and drove them to a period of real uncertainty. The unexpected results led to a broad sell-off across continents and asset classes. Because the UK is the fifth-largest economy in the world, it is critical that the Brexit process be carried out in an efficient and timely...

 

Created in 2006, Bahrain Mumtalakat Holding Company owns controlling or significant stakes in many of the kingdom’s major businesses and has made strategic investments in companies in other countries. A core aspect of Mumtalakat’s portfolio revolves around managing the government’s commercial interest in many of the country’s most significant...

 

In October 2016 Alba secured the biggest corporate loan in the history of the kingdom, as conventional and Islamic banks offered it $1.5bn in the first tranche of funding that will finance the $3bn potline six expansion. The government’s investment arm, Mumtalakat Holding Company, controls 69.38% of Alba, and the project is a key component of...

 

How long do you think it will take the aluminium industry to recover from the drop in prices?