The passenger traffic for the Middle Eastern carriers grew by 18% y/y in June compared to 17.5% growth in the previous month, figures of the International Air Transport Association (IATA) showed. The association showed that freight demand in the Middle East region continues to recover and witnessed 39.6% growth rate during the month. This week, IATA said it expected Middle Eastern carriers to post up to USD 100mn net profit in the current year. |
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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