Half of the new energy and petrochemical expansion projects worldwide in the next three years will be made in the Middle East, KUNA news agency reported citing an OPEC report. Petrochemical production in the region is concentrated in 10 countries mainly in Saudi Arabia (60%), Libya (11%), Qatar (7%), Kuwait (6.8%), Egypt (5.5%), Algeria (4.4%), Iraq (2.9%) and Bahrain (2%). |
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