Saudi Arabia and the world
Monday, Jan 30, 2023
The World in the Heart of the Kingdom
Add Your News
Japan's inflation hits a 41-year high
Japan's core consumer price inflation edged up to 3.7% in November, the highest it has been since 1981.
That was when a Middle East crisis disrupted oil production and caused energy prices to soar.
But after decades of the country trying to boost inflation, Japanese consumers are now experiencing the pain of higher prices despite stagnant wages.
Until now, the Bank of Japan (BOJ) had kept its ultra-loose monetary policy to boost its economy.
But earlier this week, it surprised the market by raising the cap on the interest rate on its 10-year government bonds from 0.25% to 0.5%.
As a result, the Japanese currency has spiked against the US dollar, hitting 151 yen to the greenback for the first time since 1990.
The weak currency has fed into the country's inflation as it accelerated high import costs which went up due to the war in Ukraine.
Japan has one of the lowest inflation rates in the world, and has bucked the trend of other G7 countries that have gradually raised interest rates to curb soaring prices.
The annual inflation rate in the US is 7.1% while it is 11.1% in the EU and 10.1% in the UK.
Riyadh Season Cup: PSG defeat Saudi All-Star XI as Ronaldo shines in thriller match
Turki Al-Sheikh, head of the General Entertainment Authority (GEA), crowned Paris Saint-Germain with the Riyadh Season Cup on Thursday after a thrilling 9-goals match against Sa...
MoJ enabled e-notices for remote appearance at virtual hearings
The Ministry of Justice (MoJ) has launched a service enabling sending e-notices to litigants for remote appearance at videoconferencing hearings.
King, Crown Prince congratulate Pavel on being elected Czech president
Custodian of the Two Holy Mosques King Salman has sent a cable of congratulations to Petr Pavel on his victory in the presidential elections in the Czech Republic.
Books on Kingdom’s history, geography, heritage a draw in Darah Pavilion at Cairo Fair
The pavilion of the King Abdulaziz Foundation for Research and Archives (Darah) at the 54th Cairo International Book Fair is one of the most important pavilions.
State's Property Rental and Eviction Law to come into force on Thursday
The State Properties General Authority announced that the State's Property Rental and Eviction Law and its executive regulations will come into force on Thursday, Feb. 2. This w...
Al-Ibrahim, Hristov discuss cooperation in economy and energy
Minister of Economy and Planning Faisal Bin Fadhel Al-Ibrahim met here with Minister of Energy of Bulgaria Rossen Hristov.
Now it’s mandatory to sell cooked meat by weight in Makkah
The Makkah Mayoralty has started the phase of mandatory implementation of the ‘Bilmeezan’ initiative, under which restaurants and kitchens in the holy city have to sell cooked m...
Iran’s Isfahan military site targeted in drone attack, Tehran claims
Bomb-carrying drones targeted an Iranian defense factory in the central city of Isfahan overnight, authorities said early Sunday, causing some damage at the plant amid heightene...
Jasem Albudaiwi appointed as new GCC Secretary General
The Gulf Cooperation Council (GCC) Secretary General Dr. Nayef Al Hajraf welcomed the newly appointed GCC Secretary General Jasem Mohamed Albudaiwi.
Governance in non-profit sector reaches 80%
Minister of Human Resources and Social Development Eng Ahmed Al-Rajhi said that governance in the non-profit sector has reached 80%.
6.3 magnitude earthquake jolts parts of Islamabad
An earthquake with a magnitude of 6.3 on the Richter Scale hit Islamabad, Pakistan, on Sunday, the National Center for Seismology said.
Subscribe also to our WhatsApp channel:
Add Your News
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Saudi FM discusses Kingdom’s economy, oil, Iran and US ties in Davos
Israelis rally in three cities against Netanyahu legal reforms
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Saudi Arabia plans to use domestic uranium for nuclear fuel
Mohammed Bin Salman chosen most influential Arab leader of 2022
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
United Arab Emirates says it will teach Holocaust in schools
Saudi Arabia set to overtake India as fastest-growing major economy this year
International medical experts speak out against COVID-19 restrictions on China
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Saudi Arabia’s female ambassadors: Who are the five women representing the Kingdom?
Almubarak named ‘The Best Central Bank Governor of the Year 2023 for the Middle East’
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
Tax fraud verdict again exposes illusion of Trump the master businessman