People walk past a bank in Rio de Janeiro, Brazil. Reuters
Brazil’s central bank (CB) delivered its first interest rate hike in nearly six years on Wednesday, a larger-than-expected 75 basis point increase to 2.75%, and flagged a similar move in May to fight inflation despite rising economic uncertainty.
The Riksbank, Sweden’s central bank, said it still expects to tighten policy around the turn of the year, surprising markets and sparking big gains in the long-suffering crown currency.
Brazil’s services sector activity expanded in August for the second month in a row, a closely watched purchasing managers index (PMI) survey showed, although the pace of growth slowed.
The Swiss National Bank can expand its balance sheet further if necessary, the central bank said on Monday, after its annual report showed it ramping up foreign currency interventions to 110 billion Swiss francs ($118.27 billion) during 2020.
Aramex announced its financial results for the first half ending 30th June 2022. The company reported revenues of Dhs2.97 billion, while the net profit stood at Dhs91.9 million.
The Board of Trustees of the Sharjah Award for Public Finance — the first of its kind in the Arab world has announced the launch of the second cycle of the award,
Abu Dhabi National Oil Company (Adnoc) announced on Thursday a $1.17 billion (Dhs4.3 billion) contract for the hire of 13 self-propelled jack-up barges to drive offshore