South Koreas Samsung Electronics plans to invest EGP 1.7bn (USD 279.3mn) to build a TV and monitor plant in Egypt, which will be its first production facility in the Middle East and Africa (MEA) region, Ahram Online reported citing Reuters and MENA news agencies. For the purpose, the company signed a memorandum of understanding with Egypts authorities. The plant is to be built in Beni Suefs governorate and is to become operational in the first half of 2013, creating 1,400 jobs. |
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