Global racing body Formula 1 said early on Sunday it has cancelled the Bahrain and Saudi Arabian Grands Prix scheduled for April owing to the ongoing situation in the Middle East

Next month’s Bahrain and Saudi Arabia Formula 1 races are set to be called off due to the Middle East conflict, with a formal decision expected within days

Bahrain’s government and parliament, the Council of Representatives, held several meetings to discuss measures to support the state’s public finances

The partnership is expected to generate over $1bn in value for the kingdom through the creation of new biotech assets

Ratings agency S&P Global revised Bahrain’s outlook to “negative” from “stable” in April

The accumulation of losses has been attributed primarily to impairment provisions from non-core investments following the global financial crisis

Dubai Airports announced the full resumption of operations across its facilities after a temporary precautionary halt

Bahrain’s financial situation have prompted S&P Global to downgrade its outlook

The initial phase of the plan includes several crucial maintenance tasks, including rubber removal, friction testing, asphalt patching and runway remarking

The growth was primarily driven by the non-oil sector, which saw an increase of 3.9 per cent at constant prices and 1.5 per cent at current prices