Saudi Arabia’s inflation rate surged to 6.1% in July on VAT hike

Dubai: Saudi Arabia’s inflation quickened at the fastest pace since at least 2012 after the kingdom tripled its value-added tax. Consumer prices rose an annual 6.1% in July from 0.5% in June, data released by the General Authority for Statistics showed on Sunday. See more In pictures: China is conducting tests on residents in Beijing […]

Saudi Arabia sets up ministerial committee to tackle commercial fraud

Abu Dhabi: Saudi Arabia is setting up a ministerial committee to take on commercial fraud and propose solutions to bring down its impact. The committee will take aim at activities such as foreign nationals owning businesses in the kingdom while using the names of Saudi citizens. There will be advanced levels of coordination among authorities […]