Bahrain's non-oil sector grows 4.2% in first nine months of 2015

Overall growth in the economy reached 2.4 per cent in the third quarter and 3 per cent over the first three quarters as a whole.

Bahrain's non-oil growth in Q3 2015 reached 3.3 per cent according to the latest Bahrain Economic Quarterly (BEQ) issued by the Economic Development Board (EDB), with growth in the first three quarters as a whole reaching 4.2 per cent in the non-oil sector.
Overall growth in the economy reached 2.4 per cent in the third quarter and 3 per cent over the first three quarters as a whole. Growth was driven by the continued resilience of the non-oil sector.
This performance was underpinned by robust performance across a number of sectors. In particular, the report revealed that the hotels and restaurants and the social and personal services sectors were among the key drivers of growth within the non-oil economy for Q3 2015, with a year-on-year growth rate of around eight per cent and 6.3 per cent, respectively.
Transportation and communications also saw strong growth of six per cent during the quarter.
The resilience of the non-oil sector helped to support job growth, with the total number of private sector jobs rising by an annual seven per cent.
Jawad restaurant division gear up for new challenges
Meeting the challenges that 2016 poses for the region was the focus of the annual Jawad Business Group Restaurant Division conference held recently at the Dragon Hotel, Amwaj.
On the back of an exceptionally successful 2015, Tapan Vaidya, restaurant division general manager urged the team not to rest on their laurels stressing the importance of being innovative and thinking out of the box while bracing up for a tough year ahead. With global oil prices falling sharply leading to significant revenue shortfalls in energy exporting nations, it is expected that consumers will be spending less and the repercussions will be felt by all industries, and especially the hospitality sector.
A much-anticipated annual event, Forge Forward 2015 was as much a celebration of the restaurant division's dazzling performance during the year and the high standards of excellence maintained in all aspects of the business.
ASRY chairman meets Independent Trade Union chairman
A meeting was held between ASRY's board of directors chairman, Shaikh Duaij bin Salman Al Khalifa, and the chairman of the company's independent trade union recently.
During the meeting, issues related to the company employees were discussed and latest updates on employment affairs reviewed. Special mention was made of the constructive cooperation between Management and the Independent Trade Union of ASRY's employees, which aims at realising mutual interests of the company and of the employees.
Shaikh Duaij emphasised his continued support of the union and expressed his open welcome for cooperation with the union.
KHCB to launch Al Waffer scheme
Khaleeji Commercial Bank (KHCB), Bahrain's rapidly growing Islamic retail bank, is prepared to set into motion its Al Waffer Scheme for 2016.
This comes in line with the constant commitment to offer customers in Bahrain the best in Shari'a compliant packages both in products and services.
Following the success of Al Waffer scheme in 2015, Khaleeji Commercial Bank has raised the bar by offering bigger value in the prizes and thereby making investments a rewarding experience.
Al Waffer awards scheme was first introduced to encourage the culture of saving through which people gain to win monthly cash and mega prizes throughout the year.

• Bahrain