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Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Bahrain made the highest rate hike in GCC region

  • The Fed raised the rate by three-quarters of a percentage point for the fourth straight time.
  • The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited.

Dubai, UAE—Earlier this month, hours after the US Federal Reserve raised its key policy rate by three-quarters of a percentage point for the fourth straight time, many Gulf states followed suit, raising their key interest rates. The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited. A senior IMF official had said that higher oil prices are likely to lead to fiscal surpluses and growing foreign reserves for Gulf economies this year, which will reduce the need for governments to borrow and to crowd out the private sector. TRENDS takes a look at the rates in the six GCC countries.