AND HERE’S THE D-DAY: Later today, the Fed will finally have its say on what’s next for the global markets. The only detail to watch out for is whether that hike extends to 1 per cent or, as the US central bank did last month, stick with another 0.75 per cent increase. On those fine dividing lines will new fortunes be made or lost. Investors in the UAE seem to be taking these in their stride, with ADX and DFM running more or less flat in the morning trades. However, the local property market will soon have to factor in whatever the rate increase will be – and the most vital aspect of it. How will end-users who need mortgages react to the higher costs? (By Manoj Nair, Business Editor)
Reuters