Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity.
The central bank raised
Egypt's central bank will keep interest rates on hold next Thursday as it balances the need to fight inflation while supporting the currency and stimulating an economy battered by more than three years of upheaval, a Reuters poll showed.
Lower rates of Internet service will broaden the adoption of UAE’s smart government services, accoding to ICDL GCC Foundation, an organisation that promotes digital skills and cyber safety across the Gulf region and Iraq.
The Egyptian central bank has instructed banks to 'strictly conform' to prevailing international market rates in trading of non-US dollar foreign currencies, according to a statement seen by Reuters.
"Kindly note that
Bahrain's four-star hotels have slashed room rates from a maximum of BD90 ($235) to as low BD50 per night during the upcoming Formula 1 season in bid to attract visitors, a top official said.
All four-star properties were spru
End-of-year hotel results for 2012 reveal a steady recovery for the Mena region, with more than 8 per cent RevPAR (revenue per available room) growth over the corresponding period last year, a report said.
This was driven by a 4.2
India's central bank has left interest rates on hold but cut the cash reserve ratio for banks, defying pressure from the government to lower rates for the first time since April but also indicating it may ease policy in early 2013.
They cite several reasons, including the global move toward lower rates and loose liquidity in the UAE market. Either way, it appears to be good news for the UAE central bank, which has repeatedly urged banks to lower their quo