Bahrain-based life and non-life carrier Trust Re has been awarded an A- rating with a stable outlook by Standard Poor's (SP), the (re)insurer announced in a statement today (29 October). SP said Trust Re had "extremely strong risk-based capital adequacy" and a "well-diversified" book of business spread across many developing markets. The rating agency said the stable outlook Read more [...]

The United States expressed concern after a Bahraini court banned the country's main opposition group, Al-Wefaq, for three months on Tuesday, just weeks before a parliamentary election the group had already said it would boycott. Al-Wefaq draws most of its support from the Shiite majority in the Sunni-ruled nation. The spokeswoman for the US Department of State, Jen Psaki, said the following in response to the decision: "We are worried that such an action will work against establishing a favourable Read more [...]

A court in Bahrain on Wednesday decided to deport 10 people who have been stripped of their Bahraini nationality.The 10 are among 31 people whose nationality was arbitrarily revoked in November 2012. In addition to their deportation, the court also ordered they pay 100 Bahraini dinars ($250).The men, who have been considered foreigners in the country since their nationality was revoked, were told they could be deported within days. They have not been given any details of where they will be sent."Arbitrarily Read more [...]