Friday 1 August 2014
 
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School attacks cost Bahrain $6.8m

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

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GCC megaprojects may cost 40pc more, warns expert

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

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Ithmaar implements key cost cutting measures

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. These measur

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QInvest revenue up 40pc

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

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IHG shares fall on lack of cash payout, higher costs

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

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Poor expats in Bahrain hit by postal rates rise

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

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Oman Cables net profit up 41pc

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

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Gulf employee healthcare costs 'higher'

The cost of providing employee health benefits for companies in the Gulf is higher than for those located in the rest of the EMEA (Europe, Middle East and Africa) region, according to a recent report. The Mercer Marsh Benefits rep

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Obama unveils plan to make college more affordable

President Barack Obama on Thursday proposed a new plan to tackle soaring higher education costs with a system that would rate colleges and universities based on their value for the money students spend and tie those ratings to disbursement of fe

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Omani contractors urge govt to reimburse wage rise

The Oman Society of Contractors has urged the government to reimburse the cost escalation of ongoing projects following a raise in minimum wage for Omani workers, said a report. The cost was initially estimated based on the minimu

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