|The commercial aviation sector in the Middle East region is expected to grow by an annual 10% in the next few years, Gulf News informed citing a report by the UK-based aviation research firm Official Airline Guide (OAG). The Middle East, along with India, will account for 11% of the world's aircraft deliveries over the next decade. The growth will be driven by a steady increase in inbound tourism, development of large airports and enhanced investor confidence. According to IATA, the Middle East carriers raised capacity by 8.8% in January to October 2011, when demand grew by 8%.
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