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Manama, The Labour Market Regulatory Authority (LMRA) announced the implementation of 985 inspection campaigns and visits, during the week of April 28 to May 4, which resulted in the detention of 57 violating and irregular workers, while 181 violators were deported.

The inspection campaigns and visits also resulted in monitoring a number of violations related to the provisions of a number of regulating laws, especially the LMRA and the Residency Laws in Bahrain, noting that legal measures were taken regarding the observed violations.

The authority pointed out that 998 inspection visits were carried out at various shops in all governorates, in addition to nine joint inspection campaigns, that included six campaigns in the Capital Governorate; two campaigns in the Muharraq Governorate, and a campaign in the Southern Governorate.

The government entities that participated in the campaigns are the Ministry of Interior, represented by the Nationality, Passports and Residence Affairs (NPRA), the General Directora
te of Crime Detection and Forensic science, the Governorate’s respective Police Directorate, the Ministry of Oil and Environment.

The Authority affirmed the continuation of joint coordination with government agencies to intensify inspection campaigns in all governorates of the kingdom, and to address any violations or practices that negatively affect the stability and competitiveness of the labour market or harm the economic and social security of the kingdom.

The LMRA renewed its call on all members of the society to support the efforts of government agencies in addressing illegal labour practices, by reporting violations via the electronic form on the authority’s website www.lmra.gov.bh or by calling the authority’s call centre on 17506055 or via the government’s Suggestions and Complaints System (Tawasul).

Source: Bahrain News Agency

Bethlehem – Ma’an – The exchange rate of the Israeli shekel fell by 1.3 percent against the US dollar, to 3.75 shekels in early trading Monday, amid expectations of an imminent Israeli military invasion of the city of Rafah in the Gaza Strip.

While the shekel’s exchange rates were receiving support from the possibility of reaching a truce agreement between Israel and Hamas at the end of last week, today’s developments caused the shekel to lose most of the gains achieved last week.

Source: Maan News Agency

Manama, This week’s BD 70 million issue of Government Treasury Bills has been oversubscribed by 129%.

The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of the Kingdom of Bahrain.

The issue date of the bills is May 8 and the maturity date is August 7.

The weighted average rate of interest is 5.92% compared to 5.93% in the previous issue on May 1.

The approximate average price for the issue was 98.527% with the lowest accepted price being 98.518%.

This is issue No. 2016 (ISIN BH00074J5422) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion.

Source: Bahrain News Agency

Manama, Bahrain has achieved impressive results on the Global Connectedness Index 2024, published by international logistics giant DHL, climbing seven ranks to secure the 25th position globally and the most improving country since 2021.

This remarkable progress reflects the kingdom’s growing integration with the global economy. The report measures 181 countries on how well they integrate and connect with the rest of the world based on international flows across the four main domains of Trade, Capital, Information, and People.

In an impressive display of its ability to attract investment, Bahrain now stands as 1st globally in Inward Merger and Acquisitions percentage of GDP, representing 19% of its GDP.

This achievement underscores Bahrain’s attractiveness as a destination for investment and indicates the confidence that the international business community has in its business-friendly environment.

Bahrain’s economic diversity is further showcased in its dominance in the Trade of Services as a percentage o
f GDP, leading the Gulf Cooperation Council (GCC) in this category. The kingdom has also emerged as a premier destination for tourists within the region, ranking first in the GCC for Inbound Tourism when measured by departure and arrival per capita.

These accomplishments reflect Bahrain’s successful efforts to diversify its economy and enhance its priority sectors, including tourism, which continues to grow and contribute to the Kingdom’s sustainable economic growth.

Nada Alsaeed, Chief of Strategy at Bahrain Economic Development Board (Bahrain EDB), said that Bahrain’s status as the most improved nation in the Global Connectedness Index affirms its robust economic strategy and proactive engagement in the international economy.

“Since last year’s report, the seven-position climb is a testament to Bahrain’s dedication to building a resilient and open market economy that actively participates in the global exchange of goods, services, and capital,” she added.

Moreover, the kingdom’s 2nd place ranking in the
Middle East and North Africa (MENA) region for Global Trade Connectedness highlights its significant role in the international trade ecosystem. The Kingdom has effectively leveraged its strategic location and logistics capabilities to integrate with global markets, facilitating free trade flows with 25 countries, which provides duty-free access to 32% of the World’s GDP.

The DHL’s Global Connectedness Index 2024 stated: “The key factors in Bahrain’s growing connectedness were increases in both merchandise exports and inwards MandA activity. Bahrain has long sought to boost international business activity as part of its economic development strategy.”

Bahrain has consistently invested in its infrastructure, regulatory reforms, and digital transformation, creating an ecosystem that supports innovation, diversification, and global collaboration. These efforts have not only enhanced the kingdom’s competitiveness on the world stage but have also fostered a resilient economy. Over a two-decade period, Bahrain’s n
ominal GDP increased from around $11 billion in 2003 to over $43 billion in 2023, marking an average annual growth of 7%, surpassing the global average of 5%.

Source: Bahrain News Agency

Manama, The Bahrain All Share Index closed at 2,022.29 points, marking a decrease of 8.89 points below the previous closing.

This decrease was due to the fall in the communications services sector and financials sector.

The Bahrain Islamic Index closed at 774.13 points, marking a decrease of 11.42 points below the previous closing.

Results indicated that 61 equity transactions took place with a volume of 591,295 worth BD 217,929.

Investors traded mainly in the financials sector, representing 57.80% of the total value of securities traded.

Source: Bahrain News Agency

Abu Dhabi – Gaza – Together – The United Arab Emirates, in partnership with the United States Agency for Refugee Assistance in the Near East (ANERA), announced the successful delivery of 400 tons of food aid to the brotherly people of Gaza, allocated to the northern Gaza Strip.

The delivery and distribution of life-saving food aid, which will provide food for approximately 120,000 people, comes within the framework of the UAE’s firm commitment to providing relief and addressing the humanitarian crisis in Gaza.

Reem bint Ibrahim Al Hashemi, Minister of State for International Cooperation, said: The United Arab Emirates’ safe and successful delivery and distribution of food aid to the Gaza Strip, especially in the northern Gaza Strip, represents a very important step in the framework of expanding the scope of current efforts regarding aid, and the UAE is committed to its solidarity. Firmly committed to supporting the brotherly Palestinian people and alleviating the suffering of the Gaza Strip, the UAE also co
ntinues to work with international partners with stronger determination than ever before to intensify efforts to ensure that aid reaches those who need it most.

For his part, Sean Carroll, President and CEO of ANERA, said that the US Agency for Refugee Assistance in the Near East (ANERA) and all those to whom we provide assistance are extremely grateful for the support provided by the government and people of the United Arab Emirates, which allows us to deliver food aid. And meeting the very large needs in the northern Gaza Strip.

Following the allocation of US$15 million within the ‘Amalthea’ Fund to support aid flows in Gaza, the UAE continues to cooperate with partners and international organizations to effectively deliver urgent food and relief supplies via land, air and sea, to enhance the humanitarian response and meet the needs of the brotherly people of Gaza.

To date, the UAE has delivered more than 31,000 tons of urgent humanitarian supplies, including food, relief, and medical supplies, which wer
e sent via 256 flights, 46 airdrops, 1,231 trucks, and six ships.

Furthermore, the UAE has launched a number of other sustainable relief projects to provide food and water to the residents of Gaza. These efforts include establishing five automated bakeries to meet the needs of 72,000 people, providing flour to eight existing bakeries to meet the needs of 17,140 people, and establishing six water desalination plants (operating with a total capacity of 1.2 million gallons of water) benefiting up to 600,000 people daily.

Source: Maan News Agency