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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Saudi inflation surges in April, food and beverages cost more

Shoppers walk past jewellery shops in the Taiba gold market in the capital Riyadh. (AFP FILES PHOTO)
By TRENDS Desk
May 15, 2022 1:42 pm
  • the consumer price index, or CPI, in April 2022 has surged 2 percent when compared to the corresponding period a year earlier
  • Food and beverages prices increased by 4.3 percent due to an increase in meat prices by 3.5 percent, and vegetable prices by 13.5 percent

Annual inflation in Saudi Arabia has spiked to 2.3 percent in April, up from 2 percent in March.

According to the General Authority for Statistics, also known as GASTAT, the consumer price index, or CPI, in April 2022 has surged 2 percent when compared to the corresponding period a year earlier, primarily driven by a rise in food and beverages prices as well as transport.

Food and beverages prices increased by 4.3 percent due to an increase in meat prices by 3.5 percent, and vegetable prices by 13.5 percent.

Transport prices climbed 4.6 percent due to a rise in gasoline prices by 9.5 percent along with a rise in car prices by around 4.1 percent.

Personal goods and services prices increased by 2.8 percent, mainly resulting from an increase in prices of jewelry, clocks and watches.

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