The decision by the central banks, in the US and most of the Middle East, to hike interest rates are designed to fight off inflationary pressures and maintain economic stability.
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected to increase at unprecedented rates due to influx of over 1.5 million fans and visitors.
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.
Muscat raises foreign ownership in joint stock companies to 100%
The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices,
Careem looks to raise $500m to fund expansion
Careem, the vehicle-for-hire firm, has set its sights on raising some $500 million from investors, including regional sovereign wealth funds.AHOY raises $20m in financing
AHOY, a UAE and Saudi operating logistics startup, has raised $20 million in financing from undisclosed investors.
Kuwait to increase crude output by 27,000 barrels per day from Feb 1
Kuwait will increase its crude production by 27,000 barrels per day (bpd) to 2.6 million bpd from 1 Feb. 2022 in compliance with its new crude output quota after the OPEC and non-OPEC alliance's decision to upwardly adjust output level by 400,000 bpd as of next month. Deputy Prime Minister...
Dubai ups housing loan limit for UAE citizens to $272,000
The ruler of Dubai, and vice president and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum has raised the housing loan limit for all the UAE citizens to $272,000.
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...
Commercial Bank of Qatar to buy 15% stake in National Bank of Oman
Qatari bank will pick up fifteen percent stake for $128 million Banks generally try to keep a majority stake in a rival lender because a minority stake is seen as punitive for capital under Basel III Qatar’s Commercial Bank disclosed on Thursday it has made an offer to buy an...
