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FINANCIAL NEWS
UAE to check retailers prices during Ramadan
26 Jun 2011
(MENAFN) A Department of Economic Development (DED) official said that officials plan to make 15 inspections of most retailers during Ramadan to make sure that they are not increasing food prices, Gulf News reported.
Retailers who raise prices for basic commodities could be fined up to USD5,446.
The Ministry of Economy (MOE) fixed food prices from Ramadan until 2012 as increased demand during Ramadan generally causes food prices to increase and venders to run out of some goods.
Some retailers are complaining profits are decreasing as purchasing prices increase and selling prices are fixed. Some retailers have asked the DED and Ministry of Economy for permission to raise prices, but the decision is up to the Supreme Council for Consumer Protection.
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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