The Board of Directors of stc Bahrain has announced the appointment of Eng. Khalid bin Baijan Al Osaimi as the new CEO of stc Bahrain, effective April 28, 2024, succeeding Eng. Nezar Banabeela.Commenting on the new leadership appointment at stc Bahrain, Eng. Moaeed Alsaloom, Chairman of the Board of Directors of stc Bahrain expressed his confidence in the appointment of Eng. Khalid Al-Osaimi as one of the business leaders who has witnessed transformation of the region’s telecommunications sector for more than 22 years. His extensive experience and knowledge of the telecommunications industry and the evolving digital transformation landscape will contribute significantly in driving forward stc Bahrain’s digital-champion strategic growth while enabling the enterprise and business sector to adapt to digital transformation by leveraging stc Bahrain’s innovative digital services.In his tenure of more than 20 years with the stc Group, Eng. Khalid Al-Osaimi has held several leadership positions which includes Technology, Mobile, carriers and Wholesale. Recently, he was the Vice President of Marketing for the Wholesale business at Mobily since 2022.Amongst his academic accomplishments, Eng. Al-Osaimi holds a Bachelor’s degree in computer science and a Master’s degree in Business Administration from King Saud University in Riyadh.The Board of Directors of stc Bahrain extend their gratitude to the outgoing CEO, Eng. Nezar Banabeela for his leadership and contribution over the past years and wish him success in his new role in the stc Group as Head of Special Projects.The appointment of the new stc Bahrain CEO is in line with the stc Group’s strategic vision to solidify its positioning in regional telecommunications landscape by bringing in business leaders with distinguished expertise in the Communications and Information Technology industry.

Beyon Money, part of the Beyon Group, has announced a partnership with TerraPay, a leading global payments infrastructure company. Through this partnership, Beyon Money and TerraPay will enable a swift, secure and affordable network for real-time payouts from Bahrain across key international corridors, including India, Bangladesh, Pakistan, Nepal, Sri Lanka, Philippines, Kenya, Uganda, Cameroon, Ghana, Thailand and Indonesia.As the digital remittance market continues to grow in the Middle East region, customers demand an agile infrastructure to drive boundless small-value, large volume payments, globally. TerraPay empowers businesses with innovative and simplified payment solutions to bring the world closer and on the other hand, Beyon Money is propelling the region's digital transformation by addressing access, reliability, and affordability needs to enhance the customer transaction journey.The Beyon Money Super App enables consumers to connect to local bank accounts to review all transactions in one place, access financial insights to observe transactions and spending habits, spend with their Classic or Platinum Prepaid Card and send money abroad to many countries around the world. This partnership with TerraPay will complement the Super App’s existing remittance services by enhancing its international reach.Commenting on the partnership, TerraPay Co-Founder & COO Ram Sundaram said, "It gives us immense pride to partner with Beyon Money, one of the most reliable financial partners in Bahrain. Our advanced payments system is designed to make digital transactions seamless, transparent and affordable which is also at the core of Beyon Money’s commitment. Together we will make digital transactions more secure and faster for customers in Bahrain. This association will further enhance interconnectivity, interoperability, and financial integration between domestic and cross-border digital payments.”Beyon Money CEO Roberto Mancone commented, “We are delighted to collaborate with TerraPay to enable acceptance of real time payments across our network. Our partnership will allow money to move into the region with TerraPay’s unique technology platform, with interoperability at its core, backed by our strong customer network which can facilitate easy and quick transfer from Beyon Money to Bank Accounts, cash Pickups & Mobile wallets, serving consumers seeking secure contactless payments options.”“The partnership with TerraPay enhances the financial services already offered to our customers and supports us with our expansion plans across the GCC and MENA regions. Our remittance services offered through the Beyon Money Super App allow customers to send money internationally both from their Beyon Money wallet or directly from their bank accounts,” Mr. Mancone added.According to a report from Statista.com, Bahrain’s digital remittance segment continues to grow rapidly and is expected to show an annual growth rate (CAGR 2022-2027) of 9.55% resulting in a projected total amount of US$238.20m by 2027.

 Carrefour, owned and operated by Majid Al Futtaim in the Kingdom of Bahrain, and in collaboration with CrediMax, has launched the Self-Checkout service — a first-of-its-kind service in the Kingdom at Carrefour City Centre and Bahrain Mall Hypermarkets. The innovative feature provides customers full autonomy and ease of shopping, enabling them to scan and bag purchases as they journey around Carrefour stores using a hand-held device, easily accessed through a bank card, or a smartphone.Self-Checkout underlines Carrefour’s ongoing commitment to creating seamless shopping experiences for all its customers. The new service will allow them to skip the inconvenience of long queues. Moreover, it enables a truly contactless shopping journey as customers only need a bank card or smartphone, and are also encouraged to utilise their own bags to carry around as they shop.Using the scanning device, customers can scan the barcode of each product they would like to purchase at the dedicated Self-Checkout area to process their payment — via a debit/credit card or MyCLUB points — within minutes.Laurent Hausknecht, Regional Director of Gulf, at Majid Al Futtaim Retail said: “At Carrefour, we take great pride in offering the most convenient and integrated shopping experiences possible. We understand that today, more so than ever, customers want a premium on convenience and quality customer service. The Self-Checkout service enables us to provide that, empowering customers with more autonomy and control. Its use of cashless payments limits unnecessary contact with other customers and touchpoints, offering shoppers avoidance of longer queues and added comfort.”Ahmed A. Seyadi, Chief Executive of CrediMax commented: “We are pleased to be able to contribute and support our client’s digital journey by providing convenient seamless payment channels. Enabling users to enrich their card payment experience in their day to day lifestyle comes within CrediMax’s framework to provide innovative digital solutions that serves the Kingdom of Bahrain and its digital transformation vision.”Carrefour’s new Self-Checkout service is incredibly easy to use: when completing any transaction, customers simply scan and bag their items at the dedicated self-checkout counters. There is an option to scan a MyCLUB card barcode and select a preferred payment method. Then, shoppers can exit by scanning the barcode on their printed receipt at the dedicated gate scanner.

Batelco, part of the Beyon Group, has achieved the highest scores according to the Bahrain Telecommunications Regulatory Authority (TRA) Consumer Experience Report for 2022. The report, which is the TRA’s first annual satisfaction comparison report, measures consumer and corporate customers satisfaction levels, with their Mobile, Broadband and Fixed provider. For consumer Mobile services, Batelco achieved the highest scores in 9 out of 15 areas of satisfaction including overall satisfaction, network and voice quality experience, speed of mobile Internet, data quality experience and both outdoor & indoor network experience.Batelco was also ranked as the best performing Broadband network operator by Bahrain’s consumers, scoring ‘delighted’ across 10 out of 13 areas, including overall satisfaction, service network experience, and connection speed.(The table above shows the top-scoring broadband network providers as per the TRA Consumer Experience Report 2022)For corporate customers, Batelco was also ranked as the top-performing mobile network operator scoring the highest in areas that include overall satisfaction, overall service experience, network coverage, and voice quality experience.Commenting on this achievement, Batelco Chief Operating Officer, Maitham Abdulla said, “We are proud to have received these high rankings in the Bahrain TRA’s Consumer Experience Report based on our services and delivery to both consumers and corporate customers.”“We greatly appreciate the trust our customers place in us and thank them for their loyalty to Batelco. We are committed to continuing with our efforts to exceed our customers’ expectations though the delivery of exceptional experiences that differentiates us from our competitors.”The report is in line with the TRA's goals to ensure consumer transparency and is aimed at helping customers to make informed decisions when choosing the provider that best suits their needs. By comparing the performance of Bahrain's telecom providers from the consumers' perspective, the report allows customers to look beyond price and consider such areas as service experience, complaints handling and shop experience.

Reboot01 in partnership with 01Talent, an internationally renowned IT education program provider, launches a revolutionary coding institute, in the capital of Bahrain.Supported by Tamkeen, Reboot01 mission is to bring a life-changing training that will open the door to great Tech jobs. No degree or background requirement is needed. After passing the equal opportunity selection process, all candidates will be trained over 2 years in a brand new 1600sqm campus: 18 months of initial training followed by 6 months of chosen specialization fields among Blockchain & Cryptocurrencies, DevOps, Data Science & Artificial Intelligence, Mobile and Web Development, Cybersecurity, Game Development & Augmented Reality (AR) and UI/UX.Based on the proven peer-to-peer platform & pedagogy called 01Edu, learners will work in teams and 100% on projects throughout the curriculum. Beyond the coding skills, it will be a practical and problem-solving experience that is essential to all industries such as banking, IT, service and hospitality, healthcare and government.Currently there are 18 coding schools powered by 01Edu system deployed across Europe and Africa transforming thousands of lives. By joining the 01 Network, Reboot01 aims to fill up this critical digital skills gap in Bahrain and the GCC. Significantly, those schools have had graduates who did not have any university degree and are now earning high salaries as full stack developers!“There is a really easy way for people to understand the impact of this opportunity; simply call a bank and ask them if they are hiring full-stack developers and see how eager they are to interview you.” Says Yanal Jallad, Managing Director, Reboot01 Coding Institute“In a context of talent shortage, we need more digital talent than traditional academic systems can produce and who are more adapted to the new requirements of the companies and our environment. Bahrain is no exception" Says Deror Sultan, Cofounder & CEO, 01Talent International The initial free entrance test is an online game that is designed to be accessible to all. Play the game and see if you have the natural ability to join this high paying world of tech. Supported by Tamkeen and no degree needed, are you ready to change your life?Take the online test www.learn.reboot01.com

 With Bahrain experiencing its fastest GDP growth rate in over a decade, real estate transaction volumes have improved in Q3 reaching a total of 5,482. This was underpinned by 2,431 recorded transactions in August, making it Bahrain’s second most successful month since 2018.Looking at Bahrain’s office sector, the flight to quality has continued, with the Kingdom’s landmark and newer office buildings recording the highest occupancy rates of those tracked by CBRE in Q3 2022. Leading Grade A buildings are providing competitive rates and flexible solutions to attract tenants. In addition, we have witnessed occupier space requirements decreasing by an average of 11% in 2022 compared to 2019. Nevertheless, we have observed a rebound in occupier demand, with a 27% increase in the number of enquiries in Q3 2022 compared to Q3 2021.In the residential sector, both quoted average apartment sales and rental rates witnessed only marginal changes from Q2 to Q3 2022, with sales rates increasing by 1.3% and rental rates falling by -1.6%. The biggest variation, at -5.9%, was seen in apartment rents in the Capital Governorate, with growing supply likely placing downward pressure on rental rates. In terms of villas, Q3 saw a slight decrease in average quoted sales rates at -0.3%. Conversely, quoted rental rates increased by 4.1%. This can mostly be attributed to increases in the Muharraq and Capital Governorates, with rates regulating after witnessing a slump in Q2.Preferences on residence location have seen a shift over the past year. Heather Longden, Director - Advisory & Transactions, at CBRE in Bahrain comments: “A CBRE poll on consumer preferences found that 60% of people in Bahrain now prefer to live near work, compared to 40% preferring to live near leisure destinations. This contrasts with last year’s overwhelming majority of 80% of people preferring to live near lifestyle-related facilities. This shift appears to corresponds with organisational directives pushing for employees to return to the office, rather than working from home, as well as the traffic issues experienced across the country during rush hours.’’Within the hospitality sector, data found that international arrivals, inbound tourism flows, and total overnight stays all sit higher than the same period in 2019, with inbound tourism receipts totalling 46% more than pre-pandemic figures. The pandemic also led to an increase in residents considering staycations. Our Bahrain poll found that 71% of respondents prefer affordable hotels when planning a staycation. In terms of Hospitality KPIs, STR data for the end of Q3 shows that hotel occupancy in Manama is up six percentage points compared to year end 2021, and three percentage points compared to Q2. Similarly, compared to 2021, RevPAR has increased by 37.1% and ADR by 22.0%, with the latter reaching the highest rate since 2016.In the retail sector, we have observed a relatively even split between demand for larger destination malls offering more retail variety, and smaller community and neighbourhood retail that require shorter travel time. When considering convenience, however, we have also found that the majority of consumers in Bahrain prefer drive-thru over dine-in F&B options, at 60% and 40% respectively. This is demonstrated by the growing number of drive-thru units being constructed by investors and developers, and the continued expansion of fast food and coffee shop operators. In terms of footfall, data shows that retail and recreation visitation in September 2022 increased by 1.3% compared to its pre-Covid baseline. However, visitation for the whole of Q3 was -0.6% below the baseline, which can likely be attributed to a large portion of the Bahrain population travelling during the summer months.

Bahrain’s Economic Development Board (EDB) attracted USD98 million (BHD37 million) worth of Direct Investments from 14 prominent international companies in its Information and Communications Technology (ICT) sector in the first 3 quarters of 2022. These investments will further economic growth and are expected to create over 770 jobs to help achieve the objectives of the Kingdom’s Economic Recovery Plan.Through the Economic Recovery Plan, Bahrain launched a 4-year Telecommunications, ICT, and Digital Economy Sector Strategy (2022-2026) earlier this year. The strategy has four main pillars, including the development of the telecommunications infrastructure, supporting the digital economy, enhancing e-governance, and developing digital capacity. The strategy aims at improving the Kingdom’s overall global position in the e-Participation index of the UN eGovernment Survey, establishing a world-class digital infrastructure, and increasing the efficiency of government services through e-transformation.Commenting on the investments, Musab Abdullah, Executive Director of Investment Development – ICT at the Bahrain Economic Development Board, said: “We are pleased to see more and more ICT companies calling Bahrain home for their regional operations. The continuous development in the ICT sector is a strategic priority for the Kingdom. The Kingdom’s highly qualified local talent, best-value operating costs, as well as its strategic location and connectivity to the entire region positions Bahrain as the destination of choice for global ICT companies.”As a result of the government vision to position the Kingdom as a regional leader in ICT, and a regional hub for ICT industries such as gaming and internationally connected data centers, today Bahrain is ranked first in MENA for ICT readiness by the UN.The ICT sector is a major pillar in Bahrain’s economy. The sector generates large numbers of high-value jobs, of which 59% of jobs are held by Bahraini nationals. According to statics released by the Ministry of Finance and National Economy, the ICT sector contributed 6.8% to Bahrain’s real GDP at the end of Q4 2021.       Overall, Bahrain EDB attracted USD921 million (BHD348 million) in direct investment from 66 companies during the first nine months of 2022. The investments are expected to generate over 4,700 jobs over the next three years in key sectors, including financial services, ICT, logistics, manufacturing, and tourism.