According to a report by the International Monetary Fund (IMF), the gross domestic product (GDP) of the MENA region is expected to grow by 4.2% in the current year from 2.3% growth in 2009. The rate is seen to expand further to 4.65 in 2011, the IMF said. The Fund attributed the growth acceleration this year to the increase of capital inflows, rising crude oil prices and recovery of domestic consumption. However, it pointed out that stress in the banking and financial sectors along with slow credit activity remained to pose a threat to the region's economy. |
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