Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's announcements, sanctions, and ongoing geopolitical risks. Uncertainties as to when the Fed will start cutting interest rates persist, and the minutes of last week's Federal Open Market Committee (FOMC) meeting...
Jordan’s central bank raises interest rate ‘to curb inflationary pressures’
The Central Bank of Jordan (CBJ) on Thursday decided to increase the interest rate on its various monetary policy instruments by 50 basis points, effective Sunday, May 8. Local media reports said the decision comes in line with the CBJ's objective to maintain monetary and financial stability in Jordan, and...
BoE hikes interest rate to highest level in 13 years
The Bank of England on Thursday raised its main interest rate by a quarter point to one percent to tackle runaway UK inflation that is causing a cost-of-living crisis. It was the fourth straight rate rise by the BoE, which added that British annual inflation would top 10 percent this...
Saudi Central Bank raises interest rate to curb inflation
In order to curb the soaring inflation in the kingdom, the Saudi Central Bank (SAMA) has raised its main interest rates by 50 basis points, in tandem with the US Federal Reserve decision to hike the rate.
Stock markets slide all across as Fed rate hike looms
Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the Federal Reserve's expected interest rate hike this week. All eyes are on the US central bank's policy meeting this week, which is expected to see it hike borrowing costs by...
ECB to put an end to bond buying in July
The European Central Bank "should" end its stimulus program at the beginning of the third quarter, its vice-president said in an interview published Thursday, opening the door to raising interest rates from historic lows.
Euro slides to two-year low as ECB dithers over rate hike
The euro slumped to a near two-year low on Thursday after the European Central Bank remained vague about when it will raise interest rates in the face of soaring inflation. The ECB stood still in the face of record eurozone inflation, keeping its stimulus plans and rates unchanged.
Saudi Arabia shows interest to develop nuclear reactors
Saudi Arabia has evinced interest to develop small modular nuclear reactors in order to generate electricity for remote areas of the kingdom. He told GEC 2022 in Riyadh that the kingdom will develop more technologies at home to limit the risk to the planet.Saudi Central Bank hikes interest rates by 0.25 percentage points
The bank said the policy rate adjustments are consistent with its objectives of maintaining monetary stability.
CBUAE raises base rate by 25 basis points on Fed cue
The new rates are said to be effective from Thursday, March 17.US Fed raises interest rate in battle against high inflation
Markets are expecting a total of seven rate hikes this year, and while the US Federal Reserve’s Open Market Committee typically moves in quarter-point steps, Fed Chair Jerome Powell has said it could be more aggressive if needed.
Turkey inflation surges to near highest in 20 years
Independent data collected by Turkish economists suggested that the annual rate of inflation rose to more than 110 percent in January.
S&P warns of fewer sukuk issues during 2022
Sukuk issuance volumes will not grow significantly in 2022 as global interest rates rise and funding needs for Gulf economies fall, according to a report from S&P Global Ratings.
Evergrande shares rise
The Chinese firm has restarted work on 10 projects.
Saudi and Abu Dhabi crown princes review bilateral relations
Saudi Arabia's Crown Prince Mohammed bin Salman and the Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed reviewed issues of common interest vital to both countries in a phone call.
Dubai Airshow to be held in November under capacity restrictions
The show is seen as a psychological boost for airlines, plane makers The Airshow will be the largest aerospace trade event to be held since the pandemic Five months before the Dubai Airshow starts, the organizer has made it clear that the biggest aerospace trade show and a spectacle for...
UAE Central Bank ups overnight rates, hours after US Fed raised interest
Central banks in the GCC mimic the US Fed's moves due to the peg of their currencies to the US dollar CBUAE upped the base rate applicable on the overnight deposit facility (ODF) by 5 points to 15 bps Hours after the US Federal Reserve Board raised the interest on...Turkey leaves its interest rate unchanged at 19 percent for third month to support lira
The decision needed to support the country’s depreciating currency An annual inflation rate of 16.6 percent has contributed to a sharp drop in Turks' purchasing power and price rises for basic goods Reeling from high inflation, Turkey's central bank on Thursday left its interest rate unchanged at 19 percent for...
