{"id":112518,"date":"2026-01-29T00:00:00","date_gmt":"2026-01-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2026\/01\/29\/this-morning-cbuae-holds-rates-steady-al-habtoor-exits-lebanon-_storyhedweb_-this-morning-cbuae-holds-rates-steady-al-habtoor-exits-lebanon\/"},"modified":"2026-01-29T00:00:00","modified_gmt":"2026-01-29T00:00:00","slug":"this-morning-cbuae-holds-rates-steady-al-habtoor-exits-lebanon-_storyhedweb_-this-morning-cbuae-holds-rates-steady-al-habtoor-exits-lebanon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/01\/29\/this-morning-cbuae-holds-rates-steady-al-habtoor-exits-lebanon-_storyhedweb_-this-morning-cbuae-holds-rates-steady-al-habtoor-exits-lebanon\/","title":{"rendered":"THIS MORNING: CBUAE holds rates steady + Al Habtoor exits Lebanon !_StoryHedWeb_! THIS MORNING: CBUAE holds rates steady + Al Habtoor exits Lebanon"},"content":{"rendered":"<\/p>\n

Good morning, friends. <\/strong>Today\u2019s big story is the Central Bank of the UAE\u2019s first interest rate decision of the year, following \u2014 as usual \u2014 in the footsteps of the US Federal Reserve. <\/p>\n

<\/a> The CBUAE chose to hold interest rates steady<\/strong>, keeping the base rate applicable to the Overnight Deposit Facility at 3.65%, according to a statement (pdf)<\/a>. The interest rate applicable to borrowing short-term liquidity was also kept steady at 50 basis points above the base rate. <\/p>\n

The other major theme of today\u2019s issue is real estate<\/strong>, as we unpack DIFC\u2019s AED 100 bn expansion and how it will impact the market over the next few years. The consensus among experts: Prices might not be affected much in the near-term, but pressures could ease in surrounding areas like Business Bay. <\/p>\n

Meanwhile, in Abu Dhabi, the property market is growing faster than ever<\/strong>, with both the office and residential segments set for double-digit growth. <\/p>\n

Watch this space <\/p>\n

<\/a> BUSINESS <\/strong>\u2014 Al Habtoor officially exits Lebanon: <\/strong>UAE-based Al Habtoor Group formally announced the closure of its operations in Lebanon, citing continued instability, hostile campaigns, and ongoing disputes with the Lebanese government, according to a statement on Facebook<\/a>. The decision affects all hotels and operations in the country and includes staff layoffs. The group cited a government failure to provide the necessary stability and safeguards for its operations.<\/p>\n

The group said it will continue to pursue action under international legislative frameworks<\/strong> \u2014 a move it signaled to earlier this week<\/a>, when a statement said Al Habtoor plans to sue Lebanese authorities over USD 1.7 bn in losses tied to blocked access to deposited funds and the absence of formal capital control laws. A previously planned large investment was contingent on forming a \u201cstrong and independent\u201d government, conditions the group said were unmet, and it also scrapped<\/a> or shelved<\/a> other projects last year.<\/p>\n

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BUSINESS \u2014 Visa split its Middle East operations into two distinct clusters to <\/strong>comply with Saudi Arabia\u2019s regional HQ rules<\/strong>, Semafor<\/a> reports. The new Riyadh-based office will now govern Saudi, Bahrain, and Oman, while Dubai remains a hub for the UAE, Kuwait, and Qatar, both falling under Central and Eastern Europe, Middle East, and Africa.<\/p>\n

The rise of the dual hub? <\/strong>The RHQ policy was designed to shift regional headquarters away from Dubai and towards the Kingdom. Yet, some companies appear to be adopting a dual-hub approach \u2014 maintaining operations in both locations rather than relocating \u2014 taking on higher overheads, as functions are duplicated across two headquarters instead of being consolidated, in exchange for maintaining a presence in both markets.<\/p>\n

Background: <\/strong>Visa opened its regional headquarters in Riyadh\u2019s King Abdullah Financial District in 2024<\/a> and last month<\/a> appointed Ali Bailoun as group country manager to lead the region. The company is among more than 700 multinationals that have relocated to comply with Saudi Arabia\u2019s regional headquarters programme, which requires firms to establish a local HQ to be eligible for government contracts.<\/p>\n

ALSO- Goldman Sachs has formed a senior executive team to strengthen its Middle East <\/strong>presence<\/strong>, targeting sovereign wealth funds and asset management to deepen ties with regional investors and governments, Asharq Business<\/a> reports, citing people familiar with the matter. The team comprises Anthony Gutman, co-CEO of Goldman Sachs International; Zaid Khaldi, CEO for MENA; Mark Nachman, global head of asset and wealth management; and Jared Cohen, head of global affairs. <\/p>\n

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<\/a> ENERGY<\/strong> \u2014 Adnoc and Taqa will jointly develop and supply grid conne<\/strong>ction, steam <\/strong>production, process cooling, and water and wastewater systems<\/strong> for the Ta\u2019ziz Industrial Chemicals zone under a 27-year utilities purchase agreement covering both plant construction and utility offtake, according to a press release<\/a>. Ta\u2019ziz \u2014 an Adnoc-ADQ JV \u2014 will set up and own a service management company as the sole offtaker for utilities across the zone\u2019s chemicals and transition-fuels projects. <\/p>\n

Background:<\/strong> The Ta\u2019ziz industrial ecosystem is a chemicals complex and transition fuels site in Al Ruwais Industrial City. It is expected to contribute some AED 183 bn<\/a> to the economy, with 4.7 mtpa of targeted capacity across chemicals and transition-fuel products such as methanol, low-carbon ammonia, polyvinyl chloride, ethylene dichloride, vinyl chloride monomer, and caustic soda.<\/p>\n

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<\/a> INVESTMENT \u2014 RAK looks east for capital: <\/strong>Ras Al Khaimah is stepping up efforts to attract investors from China and Hong Kong, and they\u2019re showing a particular interest in its growth across real estate, renewables, and digital infrastructure, Marjan CEO Abdulla Al Abdouli told Reuters<\/a>. <\/p>\n

Why now:<\/strong> RAK is scaling fast, targeting 3.5 mn tourists a year by 2030, up from about 1.3 mn in 2024. The pipeline is anchored by Wynn Resorts\u2019 USD 3.9 bn Marjan integrated resort<\/a>, due to open in 1Q 2027.<\/p>\n

What\u2019s on the table: <\/strong>Demand is strongest in hotels, residential, and mixed-use projects, with family offices also in focus, he said. Asian investors are eyeing adjacent sectors including healthcare, education, entertainment, and cultural assets \u2014 areas where family offices typically deploy longer-term capital, Al Abdouli added.<\/p>\n

In execution already:<\/strong> RAK Properties plans to open a sales and marketing office in China, CEO Sameh Muhtadi said. On the ground, Chinese contractors including China State Construction Engineering and China Railway are already involved in Al Marjan Island developments.<\/p>\n

Financial cooperation is also deepening: <\/strong>The UAE\u2019s Capital Market Authority has signed a cooperation MoU with Hong Kong\u2019s Securities and Futures Commission covering digital assets and cross-border supervision, state news agency Wam<\/a> reports. The move adds to an earlier mutual funds recognition framework<\/a>.<\/p>\n

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CRYPTO <\/strong>\u2014 ADGM is looking to formally define how crypto mining can<\/strong> operate in and from the freezone<\/strong>, publishing a draft framework that brings the activity under the Registration Authority\u2019s commercial licensing remit, according to a consultation paper (pdf)<\/a> that is open for feedback until 20 March. Enforcement powers would range from remediation directions and inspections to license suspension or revocation. <\/p>\n

Besides requiring crypto miners to get commercial licenses from the Registration Authority<\/strong>, specifying mechanisms for proof-of-work, proof-of-stake, and other future technologies, and establishing operational and security standards, it will also recognize lawfully-mined digital assets as property under ADGM law. They will therefore be subject to the usual ADGM property laws including on taxation, rights, and commercial transactions. <\/p>\n

The guidelines also include: <\/strong><\/p>\n