According to a report by the International Monetary Fund (IMF), the economies of the MENA region will recover at a growth rate of 4.5% in 2010 given fiscal stimulus and improved monetary policy. However, it noted that the pace of recovery in advanced economies and the impact from the recent Dubai 's debt crisis were key downside risks and the outlook was therefore uncertain. The fund also pointed out that government investment programs, especially in infrastructure, will continue to increase domestic demand in the near term in many MENA countries. |
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