BAHRAIN

US Report on the  Middle East

Bahrain Free Trade Agreement is a model for the Persian Gulf -- Commerce Secretary Gutierrez

Thursday, 8 December 2005
"The Bahrain Free Trade Agreement is a model trade agreement for the Persian Gulf region and beyond," said Commerce Secretary Carlos Gutierrez. "Free and fair trade creates jobs in this country by opening new markets for American products. Trade also improves lives for millions in other countries."

Moody's upgrades Gulf International Bank of Bahrain to A3 stable outlook

Monday, 29 August 2005
      Moody's rating agency has upgraded Gulf International Bank B.S.C. of Bahrain to A3 stable outlook.
       In June, Moody's affirmed the Baa1/P-2/C ratings of Gulf International Bank after JP Morgan Chase Stake sale to Saudi Arabian Monetary Agency.

Lockheed wins a $44 million contract for one AN/TPS-59(V)3B radar system to Bahrain

Thursday, 27 May 2004
      Lockheed Martin Corp., Maritime Systems and Sensors, Syracuse, New York, is being awarded a $43,665,330 firm-fixed-priced letter contract (undefinitized contract action) for one AN/TPS-59(V)3B radar system, along with associated supplies, equipment and services, to the government of Bahrain. The AN/TPS-59(V)3B is a complete, lightweight, transportable, long-range, solid state, L-band radar system capable of operating as an automatic, three-dimensional, theater ballistic missile capable, surveillance radar system.
       Work will be performed in Syracuse, New York (93 percent); Tulsa, Oklahooma (3 percent); Dallastown, Pennsylvania (2 percent); and Bahrain (2 percent), and is expected to be completed by January 2008. The Marine Corps Systems Command, Quantico, Virginia, is the contracting activity.

Vitol Bahrain wins a $15 million contract for gasoline in support of Task Force RIO

Wednesday, 5 May 2004
      Vitol Bahrain E.C., Manama, Bahrain, is being awarded a $14,823,318 fixed price with economic price adjustment type of contract for gasoline in support of Task Force RIO. TF RIO (Restore Iraqi Oil) is composed of the Corps of Engineers and Kellogg Brown & Root, Houston, Texas, with the mission of putting the oil industry back on its feet.
        Performance completion date is expected to be 30 June 2004. The contracting activity is the Defense Energy Support Center, Fort Belvoir, Virginia.

Moody's upgrades Bahrain's country ceilings for foreign-currency bonds, bank deposits to Baa1/Prime-2

Thursday, 11 December 2003
      Moody's announced that it has upgraded Bahrain's country ceilings for foreign-currency bonds and (onshore) bank deposits to Baa1/Prime-2 from Baa3/Prime-3 in light of the diminished geopolitical risk from nearby Iraq and the ongoing success of political reform.
        Consequently, Moody's has upgraded the foreign-currency issuer rating for  Bahrain to Baa1 from Baa3. The ceiling for offshore foreign-currency bank deposits has also been upgraded to Aa3/Prime-1 from A3/Prime-2. Bahrain's local currency bond ratings were affirmed at Baa1. All the ratings retain a stable outlook.

Contrack wins a $23 million contract for construction of an installation services support center in Bahrain

Wednesday, 1 October 2003
      Contrack International Inc., Arlington, Virginia, was awarded on 29 September 2003 a $23,160,259 firm-fixed-price contract for construction of an installation services support center.
       Work will be performed in Manama, Bahrain, and is expected to be completed by 1 February 2006. The U.S. Army Corps of Engineers, Winchester, Virginia, is the contracting activity

The U.S., Bahrain will seek to negotiate a Free Trade Agreement -- White House

Wednesday, 21 May 2003
      On the occasion of Crown Prince Shaikh Salman ben Hamad al-Khalifa of Bahrain's visit to the United States, the White House announced that the United States and Bahrain will seek to negotiate a Free Trade Agreement.
       A U.S.-Bahrain Free Trade Agreement would be a major step toward achieving the Middle East free trade area proposed by President Bush on 9 May 2003, said White House Press Secretary Ari Fleischer. This free trade agreement would be an important step in advancing our two countries' shared goals of peace and stability in the Middle East.

Bahrain Maritime & Mercantile wins a $48 million contract for a Command, Control emergency acquisition in direct support of "operation enduring freedom"

Thursday, 3 April 2003
      Bahrain Maritime & Mercantile Int'l BSC*, Sitra, Bahrain, is being awarded $48,000,000 firm fixed price with indefinite/delivery type of contract for a C-2 (Command & Control) emergency acquisition in direct support of "operation enduring freedom" for the U.S. Army, U.S. Navy, U.S. Air Force and U.S. Marine Corps.
       Performance completion date is expected to be 31 March 2003. The contracting activity is the Defense Supply Center Philadelphia, Philadelphia, Pennsylvania.

President Bush welcomes Bahrain's first parliamentary elections in nearly 30 years

Thursday, 14 November 2002
      "The US welcomes Bahrain's first parliamentary elections in nearly 30 years," said President George W. Bush in a a statement today. "Women -- fully participated in the electoral process."
       President Bush said, "I strongly support the efforts that King Hamad (ben Essa al Khalifa) and the people of Bahrain have undertaken to uphold democratic principles and the rule of law. The US will continue to support Bahrain as it pursues these goals."
 

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