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UAE Central Bank keeps borrowing costs steady in line with US Fed decision

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The Central Bank of the UAE (CBUAE) has announced that it will keep the Base Rate for the Overnight Deposit Facility (ODF) steady at 4.40%, following the US Federal Reserve’s decision to leave its Interest Rate on Reserve Balances (IORB) unchanged. This move aligns the UAE’s monetary policy with the US, given the dirham’s peg to the US dollar.

In addition, the CBUAE confirmed that the interest rate for short-term liquidity borrowing through its standing credit facilities will remain 50 basis points above the Base Rate. This ensures stability in the UAE’s financial markets and helps maintain liquidity conditions.

Monetary Policy Impact

The Base Rate, which is linked to the US Federal Reserve’s IORB, serves as a key benchmark for overnight money market interest rates in the UAE. By maintaining its current stance, the CBUAE signals a commitment to monetary stability, supporting economic confidence while keeping inflation in check.

Why It Matters

With the global economy facing uncertainty, central banks worldwide are carefully adjusting their policies. The UAE’s decision to hold rates steady provides businesses and investors with clarity, ensuring a predictable financial environment. Additionally, the move reflects the UAE’s strong economic fundamentals, as the country continues to attract foreign investment and maintain steady growth.

(Source: Wam)

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

Business

UAE petrol prices for July announced: Here’s what you’ll pay at the pump

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The UAE’s fuel price committee has announced the petrol and diesel prices for July, and motorists will see a noticeable hike at petrol stations starting July 1.

After remaining unchanged in June, fuel prices are going up across the board. The increase comes amid global oil market tensions following conflict between Israel and Iran, as well as reported US strikes on Iranian nuclear facilities earlier this month, events that have pushed crude oil prices higher.

Here’s how much you’ll be paying for fuel in July:

  • Super 98: Dh2.70 per litre (up from Dh2.58 in June)
  • Special 95: Dh2.58 per litre (up from Dh2.47)
  • E-Plus 91: Dh2.51 per litre (up from Dh2.39)
  • Diesel: Dh2.63 per litre (up from Dh2.45)

The revised rates will take effect on Tuesday, July 1.

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Royaloak launches in UAE bringing Indian design excellence to gulf

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Royaloak Furniture, one of India’s largest organised furniture retail chains, has announced its entry into the UAE market as part of a broader international expansion strategy. With an operational history spanning over 15 years and a customer base exceeding 5 million, the brand has opened three stores in the UAE—located in RAK Mall (Ras Al Khaimah), Lulu Mall (Fujairah), and Silicon Central Mall (Dubai)—each spanning nearly 20,000 square feet.

The move comes at a time when the UAE’s furniture and home décor industry is witnessing steady growth, driven by a combination of increased real estate development, rising urbanisation, and a growing population of design-conscious consumers. According to industry estimates, the UAE furniture market was valued at approximately USD 5.1 billion in 2024 and is projected to reach USD 5.4 billion by 2033, growing at a CAGR of 4.18%.

Royaloak’s entry adds momentum to the region’s expanding mid-to-premium furniture segment. The brand is known for its “Country Collection” that showcases curated pieces inspired by American, Italian, and Malaysian designs. The company sources products from manufacturing hubs across Asia and Europe, aiming to balance aesthetic appeal with functional quality.

“Our UAE expansion is aligned with market demand and retail opportunity,” said Mathan Subramaniam, Co-Founder and Managing Director of Royaloak. “What sets us apart is a vertically integrated model—from sourcing to distribution—which ensures both product consistency and affordability. With our dedicated warehouse in the UAE, we are equipped to provide fast, reliable delivery and a localised shopping experience.”

The stores are designed to cater to a wide demographic—offering furniture for living rooms, bedrooms, offices, dining areas, and outdoor spaces, in addition to home décor and mattresses. Each outlet is supported by Arabic-speaking staff to ensure culturally attuned customer service.

In tandem with its retail footprint, Royaloak has launched a dedicated UAE e-commerce platform, while also partnering with Amazon UAE and Noon to strengthen its omnichannel presence. The brand’s UAE entry is not just an expansion strategy but also a commitment to job creation and customer-centric innovation in one of the Middle East’s most competitive retail landscapes. The company plans further expansion across the Emirates in the coming year

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Dubai travel: Emirates minimises disruptions, reassures travellers ahead of summer holidays

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Despite heightened regional tensions on June 23, Emirates Airline resumed regular operations within hours, with only minimal disruptions reported across its global network.

The Dubai-based carrier activated its contingency and disruption plans following the latest regional developments, swiftly stabilising operations without any flight diversions and only a few route cancellations. Most affected flights were rerouted slightly to avoid restricted airspace, resulting in limited delays due to congestion.

In a statement, Emirates confirmed that its scheduled services resumed quickly and that the airline had maintained operations to the majority of destinations. Flights to Amman and Beirut, which were briefly suspended, resumed shortly after, demonstrating Emirates’ agility in responding to dynamic situations while ensuring traveller safety.

“The safety of our passengers and crew is always our top priority,” the airline said, noting it would never operate any flight unless it meets the strictest safety regulations. Emirates continues to coordinate closely with global aviation authorities and regularly evaluates the security landscape to reroute aircraft if needed.

Keeping Passengers Informed

The airline kept its customers up to date throughout the disruptions via its website, social media channels, and through dedicated reservation teams, who assisted travellers in adjusting itineraries as needed.

Looking Ahead to Summer Travel

As Emirates prepares for a surge in summer travel, the airline said it remains ready to adapt to any changing conditions. “With the UAE’s strong infrastructure and support systems, we are fully prepared to continue safe and smooth operations,” the airline added.

Travellers are advised to check their flight status before heading to the airport and stay informed through official Emirates communication channels.

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