Egypt's real estate developers Orascom Construction Industries (OCI) and engineering firm Arab Contractors set up a JV to bid for nuclear power projects in the Middle East, OCI said in a statement on its website. The JV will bid for Egypt's first nuclear power plant in Dabaa region in February. Both companies are currently in talks with international nuclear technology providers to form a bidding consortium for this project. Egypt, among other countries in the region, announced plans to establish nuclear plants in an attempt to meet growing electricity demand. |
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