Wednesday , 17 December 2025

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UAE’s new defence giant inks $1bn weapons deal

Dubai / Emirates Business Halcon, a regional leader in the production and supply of precision-guided weapons, has signed a $1 billion (AED3.6 billion) contract to deliver its Desert Sting-16 (DS-16) range of precision guided weapons to the UAE Armed Forces. Saeed Al Mansoori, CEO of Halcon, announced the landmark deal at Dubai Airshow 2019. Speaking on the sidelines of the …

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Fed’s money-market fix may affect where people park cash

Bloomberg While the Federal Reserve has said short-term interest rates are back under control following September’s upheaval, its solution may be having knock-on effects for money-market investors. The amount of cash that was parked at the central bank’s facility for overnight reverse-repurchase agreements spiked to $27 billion. That’s the most since the end of the first half of 2019, when …

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Zimbabwe central bank halves key rate to 35%

Bloomberg Zimbabwe’s central bank halved its key interest rate to 35%, joining the finance ministry in efforts to revive an economy hobbled by years of mismanagement. The decision reverses a move by the southern African nation’s newly formed Monetary Policy Committee (MPC) in September, which raised the rate from 50%. It follows the unveiling last week of the 2020 budget …

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