Inflation up in Ramadan

Updated 07 August 2013
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Inflation up in Ramadan

The Saudi Arabian Monetary Agency said on Tuesday it expected higher inflationary pressure in the third quarter of this year because of high demand for foodstuff during Ramadan.
According to a report carried on SAMA’s website on Tuesday, annual inflation rate in the second quarter rose by 3.8 percent against 0.6 percent during the same period last year.
The latest IMF report in July indicated that inflation rate in developing and emerging economies fell slightly in 2013 to 5.92 percent compared to 5.93 percent in the previous year.
Meanwhile, the Commerce and Industry Ministry confirmed on Tuesday that there is abundant supply of essential consumer products in the Kingdom’s markets.
It also pointed out that prices of most products were stable despite the unprecedented demand for them during Ramadan.


Sharm El-Sheikh main road named after King Salman

Updated 26 April 2019
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Sharm El-Sheikh main road named after King Salman

SHARM EL-SHEIKH, Egypt: The main road in the Egyptian Red Sea resort town of Sharm El-Sheikh has been named after King Salman, the Saudi Press Agency reported on Thursday.

Maj. Gen. Khaled Fouda, governor of South Sinai, made the announcement during a ceremony to mark the 37th anniversary of Sinai Liberation Day.

Saudi Arabia’s Ambassador to Egypt Osama Nugali, who is also the Kingdom’s permanent representative to the Arab League, participated in the event.

Nugali thanked President Abdel Fattah El-Sisi for bestowing the honor on King Salman.