S&P Improves Bahrain’s Outlook

General view of Bahrain World Trade Center is seen during early evening hours in Manama, Bahrain, May 2, 2020. REUTERS/Hamad I Mohammed/File Photo
General view of Bahrain World Trade Center is seen during early evening hours in Manama, Bahrain, May 2, 2020. REUTERS/Hamad I Mohammed/File Photo
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S&P Improves Bahrain’s Outlook

General view of Bahrain World Trade Center is seen during early evening hours in Manama, Bahrain, May 2, 2020. REUTERS/Hamad I Mohammed/File Photo
General view of Bahrain World Trade Center is seen during early evening hours in Manama, Bahrain, May 2, 2020. REUTERS/Hamad I Mohammed/File Photo

S&P Global Ratings has revised Bahrain's outlook to 'stable' from 'negative' on the back of new fiscal reforms aimed at improving non-oil revenues and cutting state spending, the ratings agency said in a statement.

Rated below investment grade, Bahrain was bailed out to avoid a credit crunch in 2018 with a $10 billion package from wealthy neighbors, Saudi Arabia, Kuwait, and the UAE.

That money was linked to a set of fiscal reforms, but after the coronavirus crisis strained its finances, Bahrain in September postponed plans to balance its budget by two years and announced plans to increase a value-added tax.

"The Bahraini government recently announced additional fiscal reforms to strengthen non-oil revenue and rationalize expenditure. These measures, along with the more supportive oil price environment, should improve the sovereign's fiscal position", S&P said in a statement this weekend.

The agency said it expects the government to benefit from additional financial support from its Gulf neighbors, if needed.

Bahrain will double value-added tax to 10 percent next year, a move which S&P estimated could contribute receipts of about 3 percent of gross domestic product in the next few years, up from about 1.7 percent this year.

The Gulf state is also planning to rationalize operational government expenditure and social subsidies in 2023 and 2024, a move which shifts the focus of its reforms more on the spending side than on raising non-oil revenues.

"We believe there is higher implementation risk in expenditure rationalization as the delicate political and social environment on the island, which has constrained the government's efforts, persists", S&P said.



Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Mawani Reports 13% Growth in Container Handling at Ports in May 2025
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Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Ports supervised by the Saudi Ports Authority (Mawani) recorded a 13% increase in container handling during May 2025, reaching 720,684 twenty-foot equivalent units (TEUs), compared with 639,736 TEUs in the same period last year.

Transshipment containers increased by 12.89%, totaling 149,143 TEUs compared to 132,112 last year. Imports also grew by 15.84%, reaching 292,223 TEUs, compared to 252,265 TEUs in May 2024, SPA reported.

Outgoing containers increased by 9.38%, totaling 279,318 TEUs compared to 255,359 TEUs in the same month last year.

Total handled cargo—including general cargo, solid bulk, and liquid bulk—increased by 1.40% to reach 21,337,699 tons, up from 21,042,684 tons in the corresponding period of 2024. This total includes 935,932 tons of general cargo, 5,059,899 tons of solid bulk cargo, and 15,341,868 tons of liquid bulk cargo.

The ports also received 1,635,489 heads of livestock, marking a 61.22% increase from 1,014,417 in the same period last year. Maritime traffic rose by 9.39%, with 1,083 vessels received compared to 990 last year. Passenger numbers increased by 68.15% to 95,231, up from 56,636 in May 2024. The number of vehicles grew by 13.09% to 84,352, compared to 74,590 last year.