Money & Business - Gulf Insider

4 hours ago

Bahrain FinTech Bay and Bahrain Association of Banks Host Forum on Payments, Digital Assets, and AI

Bahrain FinTech Bay (BFB), in partnership with the Bahrain Association of Banks (BAB), held an invitation-only forum at the Sheraton Hotel, Bahrain. Titled “Moving Money, Moving Fast”: Payments, Digital Assets and the AI-Driven Transformation of Bahrain’s Financial Sector, the event brought together chief executives and senior decision-makers from the Kingdom’s banking, payments and fintech sectors for a morning of discussion on the issues shaping the next phase of financial services in Bahrain and the wider GCC. The forum opened with two executive panel sessions. The first looked at payments and digital assets, covering stablecoin infrastructure, real-time payment rails and the cross-border connectivity tied to GCC financial integration. The second turned to AI and digital transformation within financial institutions, looking at how Bahrain’s banks and financial services firms are building the governance and operational systems that AI-driven finance calls for. A Closed-Door Format BFB and BAB said the gathering reflects their shared aim of keeping Bahrain among the region’s fintech hubs by connecting institutions, regulators and innovators. The organisers chose the invitation-only format deliberately, saying a closed setting allows senior decision-makers to speak more openly and work towards common ground on where the sector is heading. “Bahrain’s financial sector is moving […]

1 day ago

Private Sector Is Bahrain’s Growth Engine, Says Capital Governor

Capital Governor Shaikh Khalid bin Humood Al Khalifa reaffirmed the private sector’s vital role in the kingdom’s development journey, describing it as a “strategic partner” — not just a supporting player. Speaking during a visit to the Bahrain Chamber of Commerce and Industry (BCCI) on Monday, Shaikh Khalid said the private sector remains a cornerstone of Bahrain’s comprehensive development under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and it continues to receive direct backing from His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. The governor was welcomed at the chamber’s headquarters by newly elected BCCI Chairman Nabeel Khalid Kanoo and board members. Shaikh Khalid congratulated the new board and praised the chamber’s efforts in boosting Bahrain’s business environment and raising private sector competitiveness. Talks covered ways to deepen cooperation between the Capital Governorate and BCCI on development and community initiatives, focusing on improving the quality of life for Bahraini citizens. Mr. Kanoo welcomed the visit as proof of the governorate’s genuine commitment to open communication with the business community, stressing the need for continued coordination to navigate regional economic shifts.

1 day ago

Oil Prices Surge Over 3% After Iranian Missile Strikes on Israel

Oil prices climbed by more than 3% on Monday as markets responded to renewed Middle Eastern tensions following Iranian missile strikes on Israel, fuelling concerns about possible disruptions to global energy supplies. Brent crude, the worldwide benchmark, increased 3.29% to approximately $96.15 per barrel in early trading, while U.S. West Texas Intermediate (WTI) crude rose 3.25% to around $93.48 per barrel. The breakthroughs came after Iran fired multiple missiles at Israel on Sunday, its first direct attack since the April ceasefire. The escalation has raised concerns that the conflict could threaten oil shipments through important regional routes, particularly the Strait of Hormuz, a critical route for global energy exports. According to analysts, traders are keeping a close watch on events in the area because they are concerned that any further military action could lower the amount of oil available globally and raise the price of petroleum. The most recent increase is part of a larger surge in energy markets caused by geopolitical concerns in the Middle East, one of the major oil-producing regions in the globe. READ MORE: Iran Again Targets Bahrain, Kuwait After New US Strikes

1 day ago

Labour Ministry Raises Awareness on Midday Work Restrictions

Ministry of Labour organised a workshop to raise awareness about implementing Ministerial Decision No. (5) of 2026, which regulates the summer midday work ban. The decision, effective from June 15 until August 31, prohibits outdoor work under direct sunlight between 12 p.m. and 4 p.m. to safeguard workers during the peak summer heat. The workshop brought together employers, occupational safety and health officials, and private sector representatives to discuss the regulation’s requirements and necessary compliance measures. The ministry stated the initiative is part of its wider efforts to supervise the decision’s implementation and strengthen awareness of occupational health and safety standards during the summer months, when temperatures and humidity levels rise significantly. Officials also highlighted preventive measures and best practices aimed at reducing the risks of heat stress and creating a safer and more productive working environment.

1 day ago

Abu Dhabi: New Food Labels Let You Check Nutrition with One Scan

TAMM app integration lets consumers scan Nutri-Mark labels for instant health insights The Abu Dhabi Quality and Conformity Council (QCC) has revealed that the new Nutri-Mark initiative enables consumers to instantly access clear nutritional information by scanning a QR code on products available across participating retail outlets. The initiative follows agreements signed between the Council and four major retail chains, which will be the first to exclusively implement the nutritional labeling system on their products. By presenting nutritional information at the exact moment consumers make purchasing decisions, the initiative is expected to encourage healthier eating habits and support informed, faster, and healthier food choices. The Nutri-Mark initiative, the first of its kind in the region, was launched by the Abu Dhabi Quality and Conformity Council in collaboration with the Abu Dhabi Public Health Centre (ADPHC). It introduces a front-of-pack nutrition labeling system designed to empower consumers to make informed and healthier dietary choices. Engineer Abdullah Hassan Al Maeeni, Executive Director of the Central Testing Laboratory Sector at QCC, explained that Nutri-Mark is a science-based front-of-pack nutrition labeling system that enables consumers to compare the nutritional value of similar products through a simple and easy-to-understand assessment method. He noted that the […]

1 day ago

SIM Card Fraud Leads To BHD 2,490 Bank Theft Case

A criminal court in Bahrain is set to issue its ruling later this month in a case involving SIM card fraud scheme that led to the theft of BHD 2,490 from a Gulf businessman’s bank account. The Criminal High Court has scheduled May 16 to consider an objection filed by a man in his thirties against a default judgment sentencing him to three years in prison and a fine of BHD 3,000. According to court documents, the 36-year-old defendant is accused of exploiting a limited power of attorney granted by a 42-year-old Gulf businessman to handle administrative matters related to his company in Bahrain. The authorization did not include any financial powers or permission to access the victim’s mobile number. Prosecutors say the defendant used the documents to obtain a replacement SIM card in the victim’s name from a telecommunications company while the businessman was abroad. Although company policy requires the account holder to be present, the request was processed after the defendant presented the authorization papers. Once the SIM card was activated, the defendant allegedly received one-time banking verification codes linked to the victim’s accounts. He is accused of using these to access the “Benefit” payment application and carry […]

1 day ago

Multiple businesses fined in Al Dakhiliyah for failing to deliver contracted services

Muscat: The Courts of First Instance in Nizwa and Izki have issued judicial rulings, including convictions and financial penalties, against several commercial establishments for violating the Consumer Protection Law and its Executive Regulation. The non-compliant businesses operated in the fields of vehicle maintenance, contracting, and door manufacturing. The rulings stem from three separate consumer complaints investigated and referred by the Consumer Protection Department in the Al Dakhiliyah Governorate: Vehicle Maintenance Dispute: An establishment failed to repair a vehicle’s radiator fan noise properly within the agreed timeframe. The court convicted the establishment’s representatives, fining each OMR 100 plus legal costs, and referred the civil claim to the competent division. Design Contract Breach: A contracting business failed to complete interior and exterior residential design works according to agreed specifications and deadlines. The representative was convicted, fined OMR 100, and ordered to pay all judicial costs. Door Manufacturing Failure: A door installation company failed to deliver residential doors within the specified period and technical terms. The court fined each representative OMR 100, ordered a three-month closure of the establishment, and held them civilly liable to refund OMR 250 to the consumer. Following these judgments, the Consumer Protection Authority has urged all suppliers to […]

1 day ago

Judge Blocks Trump’s $100,000 Fee For H-1B Visas

Authored by Zachary Stieber via The Epoch Times, President Donald Trump’s $100,000 fee for H-1B visas is not legal, a federal judge said on June 8. The fee for visas for specialty foreign workers “imposes a tax on H-1B petitions without the requisite delegation by Congress,” U.S. District Judge Leo Sorokin said in a 42-page decision. While the president is able to restrict noncitizen entry into the United States, Congress has the power to tax, and federal law does not delegate it, the judge said. He also ruled that the fee violated a law called the Administrative Procedure Act because it was issued without allowing the public to comment before it took effect, and ordered officials to vacate the policy in its entirety. The White House did not immediately respond to a request for comment. The ruling came in response to a lawsuit filed by Massachusetts and 19 other states. They challenged the fee, which Trump announced in September as a way to reduce taxes and bring better people into the country. A different judge in late 2025 had upheld the fee, finding that Trump had the authority to increase the fee from between $2,000 to $5,000 to the $100,000 […]

Bessent Examining Use Of Frozen Iranian Assets To Help Gulf Countries Rebuild

1 day ago

US Examining Use Of Frozen Iranian Assets To Help Gulf Countries Rebuild

Treasury Secretary Scott Bessent is reportedly pursuing a pathway to repurpose Iranian assets to compensate Amerca’s Gulf allies which have suffered significant damage due to Iran’s attacks in the wake of Trump’s Operation Epic Fury. Over eighty oil, gas, and vital infrastructure facilities across the Gulf have been hit – with most of the attacks having occurred in March and April – with one recent report estimating up to $58 billion in damage. Iran has sought to justify these attacks as ‘retaliation’ for these Gulf countries hosting American bases during the US unprovoked assault on the Islamic Republic. “Treasury will utilize all tools available to allow Iranian assets to be made available to our Gulf allies to support rebuilding and repairs for any future damage caused by Iran,” a US official told ABC’s Senior White House correspondent Selina Wang over the weekend. “The Secretary has also directed his team to assess conditions amongst our Gulf allies and request comprehensive estimates of the costs associated with repairing damage Iran has inflicted since the start of the conflict,” the source continued. “Treasury will further consider whether Iranian assets could be used to support repairs for past damages,” it added, per the ABC […]

1 day ago

Saudi Arabia Offers Five Sports Clubs For Investment

The Ministry of Sport and the National Center for Privatization & PPP (NCP) announced on Monday the offering of five sports clubs to investors as part of the Sports Clubs Investment and Privatization Project. The ministry said the offering includes Al-Riyadh, Abha, Al-Fateh, Al-Tai, and Al-Shoulla clubs, and invited investors to submit expressions of interest and qualification documents for the acquisition of the clubs. The move forms part of ongoing steps under the Sports Clubs Investment and Privatization Project, which aims to advance private-sector participation and open access to high-quality opportunities in the sports sector. The ministry said the five clubs have completed the required regulatory procedures and are now ready to be offered to investors. Interested investors have time until July 5 to submit qualification requests through the NCP’s website (https://www.ncp.gov.sa/en/). Various sports clubs are being prepared for inclusion in the project under a comprehensive framework that takes into account each club’s level of readiness, as well as the seriousness and preparedness of prospective investors, the ministry noted. This approach is designed to ensure all requirements for participation are met, enhance the efficiency of the offering process, and achieve sustainable impact for the clubs and investors alike. The receipt […]

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Search Here

Bahrain FinTech Bay and Bahrain Association of Banks Host Forum on Payments, Digital Assets, and AI

Private Sector Is Bahrain’s Growth Engine, Says Capital Governor

Oil Prices Surge Over 3% After Iranian Missile Strikes on Israel

Labour Ministry Raises Awareness on Midday Work Restrictions

Abu Dhabi: New Food Labels Let You Check Nutrition with One Scan

SIM Card Fraud Leads To BHD 2,490 Bank Theft Case

Multiple businesses fined in Al Dakhiliyah for failing to deliver contracted services

Judge Blocks Trump’s $100,000 Fee For H-1B Visas

US Examining Use Of Frozen Iranian Assets To Help Gulf Countries Rebuild

Saudi Arabia Offers Five Sports Clubs For Investment

Recent Posts

Bahrain FinTech Bay and Bahrain Association of Banks Host Forum on Payments, Digital Assets, and AI

US Launches Strikes On Iranian Military Targets After Apache Helicopter Incident

Seven People Rescued After Their Vessel Broke Down Off The Coast Of Rabigh

Now It Takes Just 48 Hours To Get UAE’s Single Entry Tourist Visa Valid Up To 60 Days

MoH Issues Summer Heat Guidelines As Temperatures Soar Above 48°C

Two Accused Of Assaulting Worker Over Car-Washing Turf Dispute In Sharjah

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