Gulf Air, once the Middle East’s biggest carrier, reduced annual losses by half and reported its best result in eight years after cutting jobs, retiring 14 planes and scrapping eight unprofitable routes.
The four Persian Gulf states planning a single currency will temporarily halt their preparations because of the debt crisis facing the euro region, said Sheikh Mohammed bin Essa al-Khalifa , chief executive of Bahrain’s Economic Development Board.
British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state- owned aluminum producer, a prosecutor said.
Economic growth in Bahrain will accelerate to as much as 4.5 percent this year from 3 percent last year, Sheikh Mohammed bin Essa Al Khalifa, chief executive officer of Bahrain’s Economic Development Board, told a conference in Manama today.
Bahrain’s National Gas Co., known as Banagas, is reviewing prices of natural gas sold locally to industrial companies, Alwatan newspaper said, citing chief executive officer Mohamed bin Khalifa Al Khalifa.