Bahrain Launches Golden Residency Visa

Officials during the announcement of Bahrain's Golden Residency Visa (BNA)
Officials during the announcement of Bahrain's Golden Residency Visa (BNA)
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Bahrain Launches Golden Residency Visa

Officials during the announcement of Bahrain's Golden Residency Visa (BNA)
Officials during the announcement of Bahrain's Golden Residency Visa (BNA)

The Bahraini government announced the launch of the Golden Residency Visa, part of a series of economic initiatives within the Economic Recovery Plan.

The visa will contribute to enhancing the competitiveness of Bahrain, supporting development paths across various economic, investment, and service sectors.

It will also attract talent and open the opportunity to obtain and benefit from permanent residency in the Kingdom.

The weekly meeting was chaired by Crown Prince and Prime Minister Salman bin Hamad Al Khalifa at Gudaibiya Palace.

The Bahraini measure aligns with other Gulf countries' initiatives to provide more flexible and longer-term visas amid regional economic competition.

Foreigners in the Gulf countries usually had renewable work visas valid for only a few years, restricting their residency.

The golden residence visa will be renewed indefinitely and grants the right to work in Bahrain and unrestricted entry and exit in addition to the right of residence for family members.

Nationality, Passports and Residence Affairs Undersecretary Hisham bin Abdulrahman Al Khalifa stressed that this announcement would enhance the competitiveness of Bahrain and support development in various economic, investment, and service sectors.

The Undersecretary announced the new measure at a press conference held at the Officers' Club in al-Qudhaibiya.

"The new Golden Residency Visa will help foreign investors and long-term residents and further contribute to the national economy," said the official.

Sheikh Hisham explained that by retaining and attracting those with talent, experience, and internationally renowned knowledge, "Bahrain has adopted a dynamic approach as we emerge from the pandemic with reasons to be highly optimistic about the strength and growth of our economy."

He explained that it would impact enhancing the Kingdom's level in international classifications, whether at the economic or other levels.

The Undersecretary noted that those who receive the golden visa would be able to issue a residency for their spouse, children, and parents.

They will also have the right to work in Bahrain, and the visa can be renewed for an indefinite period, provided that the person continues to qualify for the golden residency according to the conditions and standards, and it is not limited to a certain age.

The move comes within the framework of measures taken by Bahrain to settle its debt-burdened financial situation.

In October, Bahrain announced a new economic growth and fiscal balance plan, including major infrastructure projects.

Qualified applicants must have resided in Bahrain continuously for at least five years with a basic average salary of no fewer than $5,000 per month throughout the five years.

Other criteria include: owning one or more properties in Bahrain above a certain value or being certified as "highly-talented."

The applicants must be present in Bahrain for 90 days per year to ensure the validity of their visas.

UAE, Bahrain's neighbor and regional tourism and business hub, has introduced longer-duration and more varied visas over the past couple of years. It also granted professionals and their families the chance to be granted Emirati citizenship.



Fitch Affirms Saudi Arabia’s Credit Rating at ‘A+’ with Stable Outlook

FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
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Fitch Affirms Saudi Arabia’s Credit Rating at ‘A+’ with Stable Outlook

FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo

Fitch Ratings has affirmed Saudi Arabia’s sovereign credit rating at A+ with a stable outlook, according to a report issued by the agency on Friday.

The agency said the Kingdom’s credit profile reflects the strength of its fiscal position, noting that its government debt-to-GDP ratio and net sovereign foreign assets are significantly stronger than the medians for both the “A” and “AA” rating categories.

Fitch also highlighted Saudi Arabia’s substantial financial buffers, including deposits and other public sector assets.

The ratings agency projected real GDP growth of 4.8% in 2026 and expects the fiscal deficit to narrow to 3.6% of GDP by the end of 2027.

Fitch also said non-oil revenues are expected to continue benefiting from strong economic activity and improved revenue efficiency.

The agency praised the momentum of economic reforms, including the updated investment system and the continued opening of the real estate and equity markets to foreign investors.


Oil Prices Rise 1% as Supply Risks Remain in Focus

The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian
The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian
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Oil Prices Rise 1% as Supply Risks Remain in Focus

The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian
The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian

Oil prices rose over 1% on Friday as supply risks remained in focus despite the receding likelihood of a US military strike against Iran.

Brent crude was up 84 cents, or 1.3%, to $64.60 a barrel at 1413 GMT, on course for a fourth consecutive weekly gain. US West Texas Intermediate was up 80 cents, or 1.4%, to $59.99.

At those levels, Brent was on course for a 2% weekly gain and WTI for a 1.4% gain. Brent ⁠was up a little more than $1 at its intraday peak as investors continue to weigh the potential for supply outages should tensions in the Middle East escalate, Reuters reported.

"While geopolitical tensions in the Middle East have eased, they have not disappeared, and market participants remain concerned about potential supply disruptions," said UBS analyst Giovanni Staunovo.

Both benchmarks hit multi-month highs this week ⁠after protests flared up in Iran and US President Donald Trump signaled the potential for military strikes, but lost over 4% on Thursday as Trump said that Tehran's crackdown on the protesters was easing, allaying concerns of possible military action that could disrupt oil supplies.

"Above all, there are worries about a possible blockade of the Strait of Hormuz by Iran in the event of an escalation, through which around a quarter of seaborne oil supplies flow," Commerzbank analysts said in a note.

"Should there be signs of a sustained easing on ⁠this front, developments in Venezuela are likely to return to the spotlight, with oil that was recently sanctioned or blocked gradually flowing onto the world market."

Meanwhile, analysts expect higher supply this year, potentially creating a ceiling for the geopolitical risk premium on prices.

"Despite the steady drumbeat of geopolitical risks and macro speculation, the underlying balance still points to ample supply," said Phillip Nova analyst Priyanka Sachdeva.

"Unless we see a genuine revival in Chinese demand or a meaningful bottleneck in physical barrel flows, oil looks range-bound, with Brent broadly hovering between $57 and $67."


Gold Eases as Strong US Data, Easing Geopolitical Tensions Sap Momentum

FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo
FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo
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Gold Eases as Strong US Data, Easing Geopolitical Tensions Sap Momentum

FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo
FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo

Gold prices ticked lower on Friday, extending losses from the previous session, as stronger-than-expected US economic data and easing geopolitical tensions in Iran hampered bullion's bullish momentum.

Spot gold eased 0.3% to $4,603.02 per ounce by 0918 GMT. However, the metal is poised for a weekly gain of about 2% after scaling a record peak of $4,642.72 on Wednesday. US gold futures for February delivery edged 0.4% lower to $4,606.70.

"There was ‌a lot of ‌momentum in the (gold) market, which seems to ‌have ⁠faded slightly ‌at the moment....the economic news flow out of the US has been causing some headwinds rather than tailwinds as of late, which is reflected in a somewhat stronger US dollar," said Julius Baer analyst Carsten Menke.

The US dollar hovered near a six-week high on the back of positive economic data on Thursday showing initial jobless claims dropped 9,000 ⁠to a seasonally adjusted 198,000 last week, below economists' forecast of 215,000.

A firmer ‌dollar makes greenback-priced bullion more expensive for overseas ‍buyers. On the geopolitical front, people ‍inside Iran, reached by Reuters on Wednesday and Thursday, said ‍protests appeared to have abated since Monday.

Safe-haven gold tends to do well during times of geopolitical and economic uncertainty. Meanwhile, gold demand in India stayed muted this week as prices hit record highs again, taking the shine off retail buying, while bullion traded at a premium in China as demand remained steady ahead of the Lunar ⁠New Year.

Spot silver shed 1.1% to $91.33 per ounce, although it was headed for a weekly gain of over 14% after hitting an all-time high of $93.57 in the previous session. "The silver market seemed very determined to reach the $100 per ounce threshold before moving lower again....speculative traders are keeping an eye on that level even though it would not be sustainable in the medium to longer-term," Menke added.

Spot platinum dropped 2.7% to $2,345.78 per ounce, and was set to gain more than 3.1% for the week so far. Palladium lost 2.6% to $1,755.04 per ‌ounce, after hitting a more than one-week low earlier, and was headed for a weekly loss of 3.3%.