The Ministry of Transportation of the Kingdom of Bahrain has invited contractors to bid on the expansion of Manama International Airport. The expansion includes the construction of a new passenger terminal, aircraft parking areas, and several other buildings, as well as civil and electrical engineering work for the airport\u2019s facilities.<\/p>\n
\u201cConstruction Week\u201d magazine reported that the Bahraini Ministry of Transportation said the project would be financed through the Abu Dhabi Fund for Development.<\/p>\n
According to the Abu Dhabi Fund for Development\u2019s website, companies from the United Arab Emirates, or joint ventures in which the UAE partner holds a 51 % stake, will be awarded an additional 10 % toward their standard evaluation score.<\/p>\n
In addition, Emirati companies participating in a joint venture with other Emirati companies and international companies, where the combined share of the Emirati companies totals 51 % or more of the joint venture, will be awarded an additional 10 % toward their standard evaluation score.<\/p>\n
For his part, Maher Al-Musallam, Acting CEO of Gulf Air, said, that the upgrades underway at Bahrain International Airport will support the central role played by the aviation sector in Bahrain\u2019s economy, noting that the airport\u2019s expansion will allow it to accommodate 13.5 million passengers annually\u2014double its current capacity.<\/p>\n
This was stated in a recent interview conducted with him by the Oxford Business Group, which is currently preparing its report titled \u201dBahrain 2014\u201d and plans to publish it on the tenth anniversary of its reports on Bahrain, He noted that Gulf Air is currently in negotiations with the original equipment manufacturers to ensure that its fleet\u2019s capabilities and future air traffic network requirements align with its planned expansion.<\/p>\n
He explained that forecasts indicate the number of passengers served by airports in the Gulf Cooperation Council (GCC) countries will reach 250 million by 2020, which will likely lead to increased competition for market share in the region.<\/p>\n
For her part, Jana Treck, Regional Director of the Oxford Business Group, said, \u00abThe Kingdom of Bahrain is currently taking the necessary steps to position itself to capitalize on rising passenger traffic and to create niche market opportunities, rather than engaging in direct competition with other domestic airlines.\u00bb.<\/p>\n
The report examines the impact of the rapid expansion of the aviation sector in the Middle East, with a particular focus on the manifestations and implications of that growth in Bahrain, through interviews with a number of ministers and officials, including Sheikh Ahmed bin Mohammed Al Khalifa, Minister of Finance and Minister in charge of Oil and Gas Affairs, and Kamal Ahmed, Minister of Transportation and Acting CEO of the Economic Development Board.<\/p>\n
In other news, as of yesterday, the Bahrain Bourse began implementing the market rules adopted by its Board of Directors last June, noting that brokers were given a six-month grace period starting from the effective date of the implementation decision to bring their operations into compliance with the requirements of the new rules.<\/p>\n
The new rules cover several topics related to the stock exchange\u2019s core operations, the most important of which is the regulation of banks\u2019 provision of margin trading services. The market rules allow non-Bahraini members licensed by the capital market regulatory authorities in their respective countries to trade on the Bahrain Bourse without opening representative offices in the Kingdom of Bahrain, provided that they appoint a licensed member to settle and clear the transactions they enter into.<\/p>\n
In addition, the new rules have reduced the number of cases exempt from trading from 16 to 4, in accordance with the established system, which will help inject new liquidity into the stock exchange from cases that are currently settled outside the trading floor.<\/p>\n
The newly established rules also regulate the member registration process in accordance with new requirements that contribute to the development of the services members provide to investors on the exchange. The rules permit trading in new investment instruments such as options, exchange-traded funds (ETFs), and real estate investment trusts (REITs), in addition to several provisions related to the development of trading mechanisms.<\/p>\n
The rules also included general guidelines for the work of market makers and methods for regulating their buying and selling activities in a manner that contributes to improving market liquidity, as well as the establishment of independent exchange bodies, including the Arbitration Committee, whose role is to adjudicate all disputes related to exchange transactions, and the Disciplinary Council, which is responsible for adjudicating violations of the laws, regulations, and decisions governing exchange operations.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>The Ministry of Transportation in the Kingdom of Bahrain has invited contractors to bid on the expansion of Manama International Airport. The expansion includes the construction of a new passenger terminal, aircraft parking areas, and several other buildings, as well as civil and electrical works for the airport facilities. Construction Week magazine reported that the Bahraini Ministry of Transportation stated that the project will be financed by the Abu Dhabi Fund for Development. According to the fund\u2019s website\u2026 Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[145],"tags":[],"class_list":["post-87096","post","type-post","status-publish","format-standard","hentry","category-major-projects"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0645\u0634\u0627\u0631\u064a\u0639 \u0643\u0628\u0631\u0649<\/a>","tag_info":"\u0645\u0634\u0627\u0631\u064a\u0639 \u0643\u0628\u0631\u0649","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/87096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=87096"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/87096\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=87096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=87096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=87096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}