Bahrain, Saudi push strategic Economic Partnership
TDT | Manama
Bahrain and Saudi Arabia have taken a new step in advancing economic integration, launching a raft of joint sectoral committees and strategic initiatives at the eighth meeting of their Joint Business Council held in Manama on Wednesday.
The meeting brought together ministers, diplomats and business leaders from both nations, reflecting the intensifying drive to harmonise commercial frameworks under Bahrain's Economic Vision 2030 and Saudi Arabia's Vision 2030.
Shared path forward
H.E. Abdullah bin Adel Fakhro, Bahrain's Minister of Industry and Commerce, described the bilateral relationship as a unique model of Gulf integration that transcends borders. He noted the Kingdom's enhanced investment landscape and welcomed the decision to treat Bahraini products as local within the Saudi market, calling it a 'landmark enabler' of economic fusion.
Saudi Ambassador to Bahrain H.E. Nayef bin Bandar Al-Sudairi echoed the call for joint execution, saying the council is one of the arms through which the aspirations of both leaderships can be transformed into sustainable economic growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Syyaha
12 hours ago
- Syyaha
Unicharm: The First Hygiene Company to Celebrate Father's Day in the GCC
Unicharm achieved a milestone by becoming the first hygiene manufacturer in the Gulf Cooperation Council (GCC) region to officially celebrate Father's Day. This pioneering move not only reflects the company's deep commitment to family values but also highlights the evolving cultural landscape where fathers are increasingly recognized for their essential role in raising the heart of this groundbreaking celebration is BabyJoy, Unicharm's flagship diaper brand, which holds the title of the #1 brand in the GCC. BabyJoy is not only a symbol of superior quality and innovation in baby care, but it also stands out as a brand that understands and supports the emotional journey of parenting. As the official sponsor of this special Father's Day campaign, BabyJoy is bringing dads into the spotlight with a heartwarming campaign's emotional core is amplified by the iconic song 'Ya Tayyib Al-Qalb' by the legendary Saudi artist Abdul Majeed Abdullah. Known for its touching lyrics and deep emotional resonance, the song perfectly captures the spirit of fatherhood – a blend of kindness, strength, and unconditional love. Through this campaign, Unicharm and BabyJoy aim to honor fathers across the GCC who give their all for their families with patience, sacrifice, and joy. By leading this initiative, Unicharm is not only celebrating fathers, but also setting a new standard for corporate social engagement in the hygiene industry. It's a bold and heartfelt gesture that reaffirms Unicharm's role as a brand deeply rooted in the region's values – one that truly understands the meaning of family.
Daily Tribune
19 hours ago
- Daily Tribune
Bahrain's Al Ayam Newspaper Signs Media Cooperation Deal with Russia's Rossiya Segodnya
===Bahrain's Al Ayam newspaper signed a Memorandum of Understanding (MoU) with Russia's state media group Rossiya Segodnya on the sidelines of the St. Petersburg International Economic Forum (SPIEF), where Bahrain is participating as the guest of honor this year. The agreement was signed by Sergey Kochetkov, First Deputy Editor-in-Chief of Rossiya Segodnya, and Rashid Nabil Al Hamar, Editor-in-Chief of Al Ayam, representing Al Ayam Publishing. The MoU sets the stage for broader collaboration between the two media houses, focusing on content exchange, joint projects, and knowledge-sharing, while also aiming to foster deeper cultural and media understanding between the two countries. Speaking after the signing, Rashid Al Hamar expressed pride in the agreement, calling it 'a milestone that strengthens Bahrain's media presence globally and reflects our genuine interest in building lasting relationships with leading international media institutions.' Sergey Kochetkov added, 'We're pleased to partner with a well-established outlet like Al Ayam. This cooperation will help us better communicate the shared stories and values between our nations and support our journalistic missions.' The deal comes as part of a growing wave of Bahraini-Russian cooperation in both public and private sectors, reflecting the evolving partnership between the two nations.
Daily Tribune
a day ago
- Daily Tribune
Rupee Dip Triggers Remittance Surge Among Indian Expats in Bahrain and Gulf
Indian expatriates in Bahrain and across the Gulf region are making the most of a favourable drop in the Indian rupee, resulting in a marked surge in remittances over the past two days. The rupee has slipped to around ₹221–223 against the Bahraini dinar, its weakest level since early April. This has prompted many non-resident Indians (NRIs) to quickly send money home, capitalising on the improved exchange rate rather than waiting for further declines. Although June is typically a quieter month for remittances—due to summer travel expenses and home visits—the rupee's slide has created a rare window of opportunity. Expats are choosing to remit now, avoiding speculation about future rate shifts. Strong Weekend Remittance Activity Thursday (June 19) saw one of the busiest remittance days in recent weeks. Even as the rupee briefly showed minor recovery, the prevailing sentiment among Indian expats remained confident: send now, rather than regret later. Exchange houses in Bahrain expect the strong remittance trend to continue through the weekend and into next week, especially if the rupee remains in the 221–223 range. What's Influencing the Rupee's Value? Despite heightened geopolitical tensions, particularly in the Middle East, the US dollar has shown limited safe-haven strength—contrary to historical trends. Instead, gold has emerged as the preferred hedge, leaving room for the rupee to hover at relatively favourable levels for remitters. Looking ahead, experts point to several factors that could influence the rupee's trajectory in the coming months: Recovery in foreign institutional investor (FII) flows following trade improvements with the US. Growth in India's defence manufacturing sector, boosting exports and reducing import dependency. Positive sentiment around India's trade agreements with the UK and expected deals with the US. Easing inflation, which remains below the Reserve Bank of India's 4% target, increasing the likelihood of further interest rate cuts. Proactive interventions by the RBI to stabilise currency markets and prevent extreme volatility. According to Subramanian Sharma, Promoter Director at Greenback Advisory Services, 'These developments point to a possible strengthening of the rupee in the coming months—but for now, Indian expats are rightly taking advantage of the current dip.' For many families in India, these timely transfers could make a real difference—and for NRIs in Bahrain, it's a smart financial move that blends timing with opportunity.
