Gulf states to announce support measures for Bahrain’s public finances

The three Gulf countries said they would announce new measures to support Bahrain (Reuters)
Updated 27 June 2018
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Gulf states to announce support measures for Bahrain’s public finances

LONDON: Saudi Arabia, Kuwait and the UAE are to announce a program to support Bahrain's financial stability.

A joint statement from the three Gulf states said they were in talks with the Bahraini government to help with economic reforms, Reuters reported.

They said they were in discussions "to confirm their commitment to consider all options to support the kingdom of Bahrain and to finalize an integrated program that will soon be announced to enable the kingdom of Bahrain to support its economic reforms and fiscal stability," the statement sent to Reuters said.

Bahrain's finances have been hit hard by a slump in oil prices in 2014. On Tuesday, Bahrain's dinar plunged to a 17-year low against the US dollar as hedge funds dumped Bahraini bonds because of concern about rising public debt.

Manama has projected a state budget gap of $3.5 billion in 2018.


France deploys jets over UAE to protect its military bases

Updated 4 sec ago
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France deploys jets over UAE to protect its military bases

PARIS: France has deployed Rafale fighter jets over the United Arab Emirates to protect its naval and air bases against Iranian attacks, Foreign Minister Jean-Noel Barrot said on Tuesday.
France has hundreds of navy, air force and army personnel based in the UAE. Its Rafale aircraft are stationed at Al-Dhafra base near Abu Dhabi.
“These Rafales and their pilots are mobilized to ensure the security of our facilities,” Barrot told broadcaster BFMTV in response to a question on French action in the UAE over the weekend to neutralize Iranian drones.
“They have carried out operations to secure the airspace above our bases.”
On Sunday, “a hangar at a French base in the United Arab Emirates was hit by a drone,” Barrot said.
“Exchanges are multiplying to determine both how the country can defend itself against future attacks and how France can protect its interests there,” he added.
France’s Charles de Gaulle aircraft carrier was however in the North Atlantic, as part of a previously planned multinational exercise, Barrot said, after he was asked if it had been sent to the Mediterranean.
To the best of his knowledge, it had not changed course, he said.
The United States and Israel launched attacks against Iran on Saturday, killing Iranian supreme leader Ali Khamenei.
Iran has responded by targeting US allies in the Gulf region.
Debris from a drone interception caused a fire that was contained at an oil industry zone in the Fujairah emirate on Tuesday, authorities said.
In Abu Dhabi, a drone struck a fuel tank terminal on Monday, causing a fire though operations were not impacted.
Tech giant Amazon said late on Monday that two of its data centers in the UAE were “directly struck” by drones, disrupting cloud services in parts of the Middle East.