The passenger traffic of Middle Eastern carriers increased by 17.5% y/y in May, according to a report by the International Air Transport Association (IATA). The report added that the regional growth in terms of passenger traffic remained strong, although the pace of this growth has dropped from the over 20% increases recorded earlier in the year. The performance of the Gulf airlines in particular including Dubai-based Emirates, UAE carrier Etihad Airways and Qatar Airways was the main reason for the increase, IATA said noting that the region's air freight growth for Middle Eastern airlines stood at 38.6% for the same month. |
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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