Gross revenue for the Manama Municipality hit BD27 million ($71.6 million) last year - the highest in 25 years.

Municipality director-general Yousif Al Ghatam announced yesterday that the increase from 2008 was around BD4.7 million, which is approximately 21 per cent.

He said that the reason for the increase was mainly due to a revision of investment contracts and increasing old market rates to current rates.

'Our revenues from investments has increased by 41 per cent, which was around BD2.4 million last year,' said Al Ghatam.

'Advertisement revenue has also increased by 52 per cent, which is around BD1.4 million.'-TradeArabia News Service