Fed Might Raise Interest Rates Amid Rising Inflation😬

Local Pickup🌇

IDH to Open 30-35 Branches in 2022🏪

Integrated Diagnostics Holding Company (IDHC), which owns Al Borg & Al Mokhtabar laboratories, plans to open 30-35 new branches in 2022 throughout markets where it operates. 

More details🧐 IDHC has operations in Egypt, Jordan, Sudan & Nigeria, & is also exploring opportunities to acquire existing entities in the Middle East, South Asia, & Africa.

Why is this important🤔 IDHC owns a 507 branch network which enabled it to serve 7.5 million cases through home visits & conduct 25 million diagnostic tests, an annual increase of 56% of 33%, respectively.

Raya Subsidiary Purchases Additional Stake in Polish Company🍝

Raya Holding (RAYA) obtained the Polish government’s approval for the purchase of an additional 4.99% stake in “Makarony Polskie” for $820 thousand.

Who is affected🤷 Listed on the Warsaw Stock Exchange, a 19.39% of Makarony Polskie was owned by Raya’s subsidiary, Madova. Madova’s stake now stands at 24.38% following the transaction. 

NBK Launches Kuwait’s First Digital Bank📱

National Bank of Kuwait (NBKE) announced the launch of “Weyay”, the first fully-digital bank in Kuwait to serve the state’s youth population.’

More details🧐 NBK CEO Salah Al Fulaij said that although Weyay Digital Bank will have its own budget, it will operate under NBK’s umbrella. Weyay aims to target people under 34 years old, which represents two-thirds of the Kuwaiti population.

Why is this important🤔 “Kuwait has one of the highest smartphone & internet penetration rates in the world, making it a necessity to launch a new generation of digital services,” Al Fulaij said.

Global Pickup🌎

Fed Might Raise Interest Rates Amid Rising Inflation😬

The U.S. Federal Reserve is exploring raising interest rates if inflation continues to rise.

More details🧐 Meeting minutes emerged from the Fed’s meeting earlier this month when it decided to begin tapering. The meeting minutes indicate a lively discussion on inflation, with members stressing the willingness to act if inflation continues to increase.

Why is this important🤔 With higher interest rates in the U.S., countries that have debt in dollars will be hit.

 An analysis released last week by Japanese investment bank Nomura found that the four emerging markets most at risk of an exchange rate crisis are Egypt, Romania, Turkey & Sri Lanka.

The analysis considered indicators such as external debt as a percentage of GDP, the ratio of foreign exchange reserves to imports, & stock market index.

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