Tag Archives economy

Endemic Mismanagement?

The government’s consolidated closing accounts for 2009 has been released to much uproar of the press, fitfully followed up by parliamentarian chagrin and threats to question ministers and impeach them should they be found wanting. Why? Because although the authorised and assigned government budget for recurrent expenditures and projects for 2009 was BD2.484 billion, only spent BD2.082 billion was spent, thus not utilising approximately BD400 million which equates to approximately 16% of the total. The most …

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Cementing the GCC ties

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We’re having yet another “crisis” in Bahrain. This time, it comes in cementy flavour! FOREIGN racketeers are being blamed for a cement crisis which has crippled Bahrain’s construction industry.The suspension of supplies from Saudi is costing Bahrain’s contractors more than BD4 million a day, says sources. [GDN 12.06.08] Let me first confess that I don’t know much about the construction industry, nor do I know a lot about the building material manufacturing and supply. My company …

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15 seconds of fame = 1 billion?

Hardly, but a twit at the municipal council is vehemently opposing it for some farcical excuses, wrapped up in Class A Xenophobia. Here are some of Mr. Hameed Al-Basri brainfarts which he is using in the hope of putting the kibosh on the project: it would result in the area being “invaded” by foreigners with different cultures and moral values He also wants the land to be used for more “useful” projects which could benefit the …

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Will the UAE depeg?

Well… UAE Vice-President and Prime Minister Sheikh Mohammed bin Rashid al-Maktoum has confirmed the federation is considering removing the dirham’s peg to the US dollar, while saying he is confident that inflation in the federation will solve itself. I’ll take that as a “maybe“. How about Bahrain? Bahrain’s crown prince said on Saturday that even talking about revaluing the local currency against the dollar was irresponsible and the country had no plans to adjust the value …

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