The launch of the Brunei Insurance and Takaful Association (BITA) in November 2013 was a major event for the insurance industry and a highly anticipated one since plans for its formation were agreed upon in 2011. Bringing for the first time conventional and takaful insurers under one group, BITA is expected to unify the industry, especially in its relations with...
Although the business environment for insurers is challenging, Brunei Darussalam’s small insurance industry continues to expand gradually. Increasingly high court awards to accident victims have affected the profitability of mandatory automotive and workers’ compensation lines, while the government’s local business development policies and support for sharia-compliant insurers are squeezing...
As oil and gas exports form the backbone of the economy, Brunei Darussalam is susceptible to volatility in energy prices, although the government minimises this with a conservative fiscal policy. The budget surplus totalled $2.82bn in 2013, and the IMF has forecast an average real growth rate of 4.5% from 2014 to 2019. Petrochemicals and...
View contact details and general information for some of the leading hotels and resorts in Brunei Darussalam.
Brunei Darussalam is a welcoming and tolerant country, and Bruneians are well accustomed to interacting with foreigners in both business and informal settings. However, certain rules of cultural etiquette should be observed. The Sultanate is an Islamic state, so public displays of affection between sexes should be avoided and the consumption and sale of alcohol is...
A series of important new laws have been introduced and put into effect over the course of 2013 and 2014. Brunei Darussalam is a place of tranquillity, and it has maintained its peaceful and prosperous position on account of the wise rule of His Majesty Sultan Hassanal Bolkiah.
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