Worth Your Time
Money gets dearer, SMEs get a bigger slice, factories get smarter
The UAE business news worth knowing this week, without the corporate waffle.
Borrowing just got a little more expensive
The UAE Central Bank raised its Base Rate by 25 basis points, from 3.65% to 3.9%, effective 17 September. The move followed the US Federal Reserve and can feed through into the cost of new business borrowing and variable-rate finance.
Why it's worth your time
If you're funding growth with an overdraft, business loan, equipment finance or other variable-rate debt, this is worth a quick conversation with whoever looks after your numbers.
A quarter of a percentage point doesn't sound terrifying. But stack higher finance costs on top of wages, rent, fuel and suppliers and suddenly that margin you've been meaning to check deserves a look.
Original source: Central Bank of the UAE
Read the Central Bank announcementKeep reading. Then get in the room.
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