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Fed holds rates steady, warns of rising inflation and slower economic growth
The Fed lowered its GDP growth forecast for the US to 1.7%, down from 2.1%
THIS MORNING: CBUAE holds rates steady following the Fed’s move + xAI, Nvidia join MGX-backed AI Infrastructure Partnership
Plus: Dubai’s rapid vehicle growth intensifies traffic crisis, sparks policy debate
FMCG sector grew 5.5% last year -NielsenIQ
E-commerce played a key role, with FMCG online sales rising 29%
CBUAE, ICAEW are upbeat on the UAE’s growth this year
The central bank revised up its forecast for GDP by 0.2 percentage points to 4.7%
THIS MORNING: Interest rate decision coming today + Zapp to come to the UAE?
Plus: Mubadala eyes consortium to launch Brazil stock exchange
Brewing trade war to weigh on global growth, OECD says
It also sees inflation coming in higher than previously forecast
THIS MORNING: Fed kicks off interest rate meeting + Borouge proposes 2.5% share buyback
Plus: Public sector workers to get three days of Eid al Fitr holiday
A look into the size of the UAE’s “real” economy compared to Arab peers
The UAE had the highest level of material well-being in the region during the period
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