According to figures by the International Air Transport Association (IATA), passenger traffic of the Middle East increased by 25.9% y/y in March, mainly due to the average of 5% regional economic growth in the region. However, local airlines' load factor stood at 76.2%, slightly lower than the global figure of 78%, IATA said. Freight demand in the Middle East showed about 35.5% increase in the same period, the association added noting that Middle East 's passenger traffic grew by 25.8% y/y and 23% y/y in February and January respectively. |
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