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Search resuls for: "Alaa Swilam"


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☆ UAE central bank raises base rate by 75 bps to 3.15% –statement
  + stars: | 2022-09-21 | by ( ) www.reuters.com   time to read: 1 min
Sept 21 (Reuters) - The Central Bank of the United Arab Emirates said on Wednesday it was hiking its base rate by three quarters of a percentage point to 3.15% effective from Thursday, moving in parallel with the U.S. Federal Reserve's third straight hike of that size as its currency is pegged to the dollar. The bank said it would maintain the rate on borrowing short-term liquidity from the CBUAE through all standing credit facilities at 50 basis points above the base rate. Register now for FREE unlimited access to Reuters.com RegisterReporting by Alaa Swilam and Mahmoud Mourad in Cairo; Writing by Yousef Saba; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
☆ Iran ready to send fuel ships to Lebanon in a week or two -Iranian embassy in Beirut
  + stars: | 2022-09-19 | by ( ) www.reuters.com   time to read: +1 min
Sept 19 (Reuters) - Iran is ready to send ships loaded with fuel to Lebanon within one or two weeks to help run the country's power plants, the Iranian embassy in Beirut told Al-Manar TV as a Lebanese delegation was in Tehran to discuss energy cooperation. A Lebanese energy ministry spokesperson said they were unaware whether a fuel import deal had been struck but said "any gift from anywhere is welcome". Iran had previously proposed providing fuel to the Lebanese state in the form of a donation in an effort to avoid U.S. sanctions on Iran's energy sector, two government sources told Reuters earlier this month. read moreRegister now for FREE unlimited access to Reuters.com RegisterLebanon and Iran are also discussing the construction of new power plants and fixing electrical power networks, the embassy said. Lebanon has struggled with outages for decades but its economic meltdown since 2019 has drained state coffers, slowing down imports of fuel for government plants.
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