Stiff competition from rivals in Europe and the Middle East and falling ticket prices mean Lufthansa must keep cutting costs if it wants to remain a global airline, the German carrier said.
Lufthansa is being squeezed by competiti
Costs could go up for expats and the private sector as Bahrain seeks to offset a projected shortfall in revenues, driven in large part by lower oil prices.
Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa told the Gulf Da
Food import costs are expected to top the $1 billion (BD377 million) mark for the first time in Bahrain this year as the country increases its reliance on imported goods.
According to London-based Economic Intelligence Unit (EIU),
Attacks by thugs on schools has cost Bahrain more than BD2.6 million ($6.8 million).
The Education Ministry has reported so far 305 incidents across Bahrain, said a report in the Gulf Daily News (GDN), our sist
GCC megaprojects could cost 40 per cent more than budget and this will have a major impact on economies in the wider Mena region, according to an infrastructure expert.
With more than $2.5 trillion worth of projects in prosp
Ithmaar Bank, a Bahrain-based Islamic retail bank, said it has already started implementing cost-cutting and other strategic initiatives, both in the Bahrain and in Pakistan, aimed at turning the group around in 2014.
QInvest, a Qatar-based investment bank and Islamic financial institution, has posted a 40 per cent increase in its revenue last year.
It has also recorded a 30 per cent reduction in costs and an increase of $60million in net profi
Shares in InterContinental Hotels Group fell on Tuesday as a failure to announce a return of cash to shareholders and higher-than-expected costs for 2014 eclipsed a 10 per cent rise in 2013 profit.
The firm, which declined to comm
Poor expatriates living in Bahrain have been hit hard by rising costs of postal charges, according to campaigners.
Bahrain Post increased postage rates by up to 300 per cent last December, which has affected businesses, especially
Oman Cables Industry Co said its net profit increased 41.8 per cent in 2013 to RO16.9 million ($43.7 million), compared to RO11.9 million the previous year, said a report.
The increase was credited to higher sales volume and a red