UK-based hotel and resorts chain InterContinental Hotels Group (IHG) plans increase the number of its hotels in the Middle East region by 50% in the next four years, daily The National reported. The UAE, Egypt and Saudi Arabia will be the main focus for IHG's expansion, said Karin Sheppard, the vice president commercial for IHG in the Middle East and Africa. IHG with brands including Crowne Plaza and Holiday Inn has 76 hotels operating in the Middle East. The company also has 37 projects under construction in the region. |
Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more
National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more
The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more