Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Banking & Finance, Economy

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

CBUAE raises base rate by 25 basis points on Fed cue

The CBUAE is the issuing and paying agent for the sukuk. (CBUAE)
By TRENDS Desk
March 17, 2022 8:52 am
  • The base rate is anchored to the US Federal Reserve’s IORB
  • It signals the general stance of the CBUAE’s monetary policy

The Central Bank of the UAE (CBUAE) has decided to raise the base rate applicable to the Overnight Deposit Facility (ODF), official sources have said.

The increase is of 25 basis points, said the sources.

The new rates are said to be effective from Thursday, March 17.

This decision was taken following the US Federal Reserve’s announcement on Wednesday to increase the Interest on Reserve Balances (IORB) by 25 basis points.

The CBUAE also has decided to maintain the rate applicable to borrowing short-term liquidity from it through all standing credit facilities at 50 basis points above the base rate.

The base rate is anchored to the US Federal Reserve’s IORB.

It signals the general stance of the CBUAE’s monetary policy.

It also provides an effective interest rate floor for overnight money market rates.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]