Entries by Barry Prost

Bahrain retains title of top expat destination in the world

The appeal of the US as a destination for expatriates has slipped for the fifth consecutive year as Bahrain topped a global list for the second year running. While the US fell to No. 47 out of 68 countries, dragged down by a steadily deteriorating reputation for safety and a perceived lack of affordable health […]

GCC prominent among 22 sovereigns with liquid assets over 25% of GDP

JEDDAH — The Gulf Cooperation Council (GCC) countries are among the 22 sovereigns with liquid assets exceeding 25% of GDP, and three of them have liquid assets worth more than 100% of GDP, S&P Global Ratings said in its report titled “Government Liquid Assets And Sovereign Ratings: Size Matters” released Monday. The seven sovereigns rated […]

Bahrain construction sector grows amid new infrastructure and energy projects

Rising investment in infrastructure and stronger capital inflows for industrial expansion are combining to boost activity in Bahrain’s construction sector, which expanded by 6.7% year-on-year (y-o-y) in the first quarter of 2018, according to data released by the Information and eGovernment Authority last month. Given that the sector makes up around 7.5% of overall economic […]

Cost of living in UAE drops as rents fall

The cost of living in the UAE continued to drop in the first-half of 2018, thanks to fall in rents, lower government public service fees, freeze and reduction in school fees and, most importantly, rising strength of the dirham against major currencies. It also improved residents’ purchasing power and quality of life. According to mid-year […]

Saudi Arabia boosts fintech drive with UAE and Bahrain talks

LONDON – Saudi Arabia is discussing a coordinated approach to the regulation and nurturing of fintech startups with the UAE and Bahrain. Such discussions form part of the Kingdom’s attempts to boost its nascent fintech ecosystem and to encourage the increased adoption of technology by incumbent lenders. Discussions with central banks in the UAE and […]

UAE economy likely to rebound in 2018

This will be driven by oil prices, an expansionary fiscal stance and an upswing in investment The UAE economy is expected to grow faster in 2018, driven primarily by recovering oil prices, an expansionary fiscal stance and an upswing in investment ahead of Expo 2020. Analysts at the Institute of Chartered Accountants in England and […]

Saudi women driving could add $90bn to economy by 2030

Allowing Saudi women to drive could help the kingdom reap as much income as selling shares in Saudi Aramco. The move, which went into effect on Sunday, could add as much as $90bn to economic output by 2030, with the benefits extending beyond that date, according to Bloomberg Economics. Selling as much as 5% stake […]

Bahrain foreign direct investment grew 114% in 2017

Inflows of foreign direct investment (FDI) to Bahrain rose 114 percent in 2017, the fastest growth rate in the GCC, according to new data from the United Nations Conference on Trade and Development (UNCTAD). The growth of FDI in Bahrain came even as global FDI fell 23 percent. In a report, UNCTAD noted that the […]