Bahrain's Business Sector Rebounds Strongly

Aug 09, 2011, 09:52 ET from Kingdom of Bahrain

MANAMA, Bahrain, Aug. 9, 2011 /PRNewswire-USNewswire/ -- Bahrain's business sector continues its steady rebound following this year's earlier unrest, Gulf Daily News reports. Speaking during Sunday's cabinet meeting, Industry and Commerce Minister Dr. Hassan Fakhro reported a recent boost in local and foreign investor confidence and highlighted the strong recovery of revenues in the hotel and commercial sectors.

During the weekly meeting, the cabinet noted that that a majority of ministries and agencies had successfully implemented the 2009 National Audit Court suggestions to combat waste in government ministries. The cabinet further urged the prevention of court-cited violations and the establishment of committees to investigate financial irregularities within each ministry.

In addition, the energy minister briefed the cabinet on steps needed to meet the summer's rising electricity demands.

Concluding the meeting, the cabinet established a Foreign Ministry committee for the implementation of United Nations Security Council decisions.

SOURCE Kingdom of Bahrain