Bahrain Financial News

Rain cryptocurrency exchange experienced a potential exploit on April 29, which transferred approximately $14.1 million worth of various cryptocurrencies to a new wallet under suspicious circumstances, according to a May 13 report from on-chain analyst ZachXBT.

Subscribe to enjoy similar stories.Investors who timed the metal rally well seem to have made quick gains, especially in aluminium stocks. Shares of most aluminium producers are now trading just a notch below their lifetime highs, reflecting enthusiasm in the sector.National Aluminium Co is 0.6% shy of its all-time high.

Subscribe to enjoy similar stories.RIYADH, Saudi Arabia—Iraqi militias backed by Iran launched dozens of explosive drones at Saudi Arabia and other Gulf states during more than five weeks of fighting, in what is becoming a shadowy war within a war pushing some of the world’s largest oil producers toward open conflict.According to at least one Saudi assessment described by a person familiar with it, up to half of the nearly 1,000 drone attacks on the kingdom came from inside Iraq. They included strikes on a Saudi refinery in the sensitive Yanbu oil hub on the Red Sea and oil fields in the kingdom’s Eastern Province, people familiar with the matter said.Drones launched from Iraq targeted Kuwait’s only civilian airport.

“We do blue-collar hiring, mainly in the manufacturing and supply chain sectors, and there, the costs of getting workforce in the metros has gone up by about 15-20% in a month,” said Neeti Sharma, chief executive officer of TeamLease Digital, part of the staffing firm TeamLease Group.Scarcity of liquefied petroleum gas (LPG) has forced construction and manufacturing sectors' blue-collared workers—scaffolders, plumbers, welders, etc.—back to their hometowns and villages.Radheshyam and four others together iron clothes in south Mumbai. These migrant workers from Rae Bareli, Uttar Pradesh, together typically use one LPG (liquefied petroleum gas) cylinder for a little over a month.

State Bank of India has evacuated 64 employees from West Asia to Mumbai over the past few days as the country’s largest lender activated a business continuity plan in response to the escalating war in Iran.SBI obtained approvals from local regulators to temporarily manage its operations in three countries from India, two people aware of the matter said. Only minimal on-ground presence has been maintained in these locations to comply with regulatory requirements.“People have shifted to India after regulators permitted it.

LPG) at about 62%. Fertilizer imports account for roughly 30% of consumption.That headline number masks wide variation across nutrients.

₹199- ₹2,300, depending on the nature of the flight. With Pakistan airspace already shut for Indian airlines, the disruption in flight routes through West Asia has increased travel time and cost.The financial damage of such disruptions would mount quickly for Indian airlines.

National Aluminium Co. Ltd’s (Nalco) shares are up more than 8% since the West Asia conflict began as some aluminium producers in the region have been forced to suspend operations, creating a supply shortage.

Indian companies with operations in West Asia spent the weekend tracking their employees and gauging the impact on their businesses as the US-Israel strikes on Iran escalated the conflict, freezing movement from outside and within the region.“We are in touch with the client firms. The workers are safe.

reciprocal tariffs imposed by the US and has a first mover advantage as compared to other countries because of the Bilateral Trade Agreement (BTA) that the two are negotiating, officials said, adding that Indian exporters are better positioned to deal with the additional US tariffs as compared to their competitors. The country, they said, will take all measures to check dumping of goods from China as Beijing is slapped with steeper tariffs and work within the World Trade Organization (WTO) framework to prevent the dumping of excess capacity into its markets by countries hit by high US tariffs. “The government is there to protect domestic industry from any possibility of dumping of goods in such a situation,” said an official. New Delhi is also exploring measures to protect sensitive sectors like dairy and agriculture amid the trade war. While the reciprocal tariffs on India are 26%, those on China are 34%. India is also likely to gain from the US-China trade war.

SUNDAY Hotels have opened in 10 countries across the globe including India, the United Kingdom, Saudi Arabia, the United Arab Emirates, Bahrain, Indonesia, Malaysia, Thailand, Philippines, and Vietnam. SUNDAY Hotels, a premium brand of four-star and five-star hotels, was originally launched in May 2023 through a joint venture between the SoftBank Group and Oravel Stays. The initiative is part of Oravel's ongoing programme to spread its premium hotel footprint around the globe.

Lewis Hamilton racing a Ferrari for the first time. Reigning world champion Max Verstappen arriving without a lot of mileage in his Red Bull. Lando Norris helping McLaren set a benchmark with his pace in testing. Formula 1 is expecting a hyper-competitive milestone 75th anniversary season in 2025, and it starts this weekend with the Australian Grand Prix. There's no shortage of unknowns in terms of the pecking order, and the weather. Most of the headlines ahead of Sunday's Australian GP have revolved around Hamilton's move to Ferrari from Mercedes. The normally relaxed pre-event news conference at Albert Park was overflowing with journalists and photographers on Thursday to hear from a rejuvenated Hamilton about how much he's enjoying the prancing horse-ride. The 40-year-old British driver is going into his 19th season in F1 but has had a different outlook since his first day in January at the Scuderia's Maranello HQ, where he's teammates with Charles Leclerc.

Pope Francis to visit the homeland he left in 2013 to become the head of the Roman Catholic Church. With his health delicate as he battles double pneumonia, the return seems increasingly unlikely now to happen. Pope Francis, 88, has been in a critical condition due to a lung infection. His two weeks in Rome's Gemelli hospital is the longest stay of his papacy and underscores his frailty. Francis has made more than 45 international trips during his papacy, including the first by any pope to Iraq, the United Arab Emirates, Myanmar, North Macedonia, Bahrain and Mongolia.

Dark Sky Parks officially recognized by DarkSky International, Saudi Arabia is positioning itself as the ultimate destination for travelers seeking a celestial escape.

Egypt will host a summit of Arab nations on February 27 to discuss «the latest serious developments» concerning the Palestinian territories, its foreign ministry said in a statement on Sunday.

Nara Lokesh, the minister of Information Technology, Electronics and Communications and the Human Resources in the government of Andhra Pradesh.

Princess of Wales has once again demonstrated her knack for wearing jewelry steeped in symbolism. On Monday, Kate Middleton attended a Holocaust Memorial Day service in London, where she unveiled a stunning vintage five-strand faux pearl necklace.

high Treasury rates hamper weaker credits from tapping international capital. While a recent surge in US bond yields has abated for now, investors fear the upward moves will resume after President-elect Donald Trump takes office on Monday, given his support for trade-tariff hikes and mass deportations, policies that are considered inflationary.

Emirates is bringing forward the deployment of its Airbus A350 to Kuwait and Bahrain. Services will start 8 January, making them the second and third destinations to be served by the airline's newest aircraft, according to a press statement released by the air carrier today.

Middle East. Prince Andrew hasn't exactly had a great December, or decade, when it comes to royal scandals. Following Andrew's forced withdrawal from the King's Christmas lunch and his decision to skip the Sandringham holidays due to the Duke of York's alleged ties to Chinese spy Yango Tengbo, it appears that the only people standing by him are his ex-wife Sarah Ferguson and their daughters Princess Beatrice and Princess Eugenie, as quoted in a report by Marie Claire. According to the Daily Beast, Prince Andrew's predicament has gotten so bad that some of his friends are even considering leaving the nation.

Manama Dialogue and co-chair a ministerial meeting. Jaishankar, in Manama on the final leg of his four-day, two-nation trip, was received by his Bahrain counterpart Dr Abdullatif bin Rashid Al Zayani. «Delighted to arrive in Manama this evening. Great to see my brother FM Dr Abdullatif bin Rashid Al Zayani,» he said in a post on X. «Look forward to participating in the Manama Dialogue tomorrow. Confident that our High Joint Commission will be very productive,» he said.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...