According to a report by telecom market intelligence company IDC, IT spending in the MENA region is expected to grow 12% in 2010; four times the global rate this year, media reported quoting the IDC report. The report said global IT spending was likely to reach USD 1.5tn in the current year, but no specific figures for the spending in MENA were available. |
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