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Saudi Arabia to Showcase Top Technologies at Defense Fair in Istanbul

The General Authority for Military Industries (GAMI) is scheduled to participate in the International Defense Industry Fair (IDEF 2023) in Türkiye.
The General Authority for Military Industries (GAMI) is scheduled to participate in the International Defense Industry Fair (IDEF 2023) in Türkiye.
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Saudi Arabia to Showcase Top Technologies at Defense Fair in Istanbul

The General Authority for Military Industries (GAMI) is scheduled to participate in the International Defense Industry Fair (IDEF 2023) in Türkiye.
The General Authority for Military Industries (GAMI) is scheduled to participate in the International Defense Industry Fair (IDEF 2023) in Türkiye.

The General Authority for Military Industries (GAMI) is scheduled to participate in the International Defense Industry Fair (IDEF 2023) in Türkiye, reported the Saudi Press Agency.

The event will be held between July 25 and 28 at the Tuyap Fair Convention and Congress Center in Istanbul.

GAMI’s involvement is part of the Saudi pavilion that includes several government agencies, major national institutions and companies specialized in the field of military, defense and security industries.

They include the Saudi Arabian Military Industries, National Company for Mechanical Systems, Saudi Chemical Company Limited, Intra Defense Technologies, ERAF Industrial Company, and the World Defense Show.

Saudi Arabia’s participation at the event aims to highlight the promising investment environment and opportunities in the sector by exploring cooperation with major regional and global companies.

Saudi companies are keen on concluding several strategic partnerships with investors interested in the defense and security industries sector.

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UK Inflation Holds at 2.2% in August as BoE Considers Rates

Pedestrians walk across Oxford Street in London, Britain, September 17, 2024. REUTERS/Hannah McKay
Pedestrians walk across Oxford Street in London, Britain, September 17, 2024. REUTERS/Hannah McKay
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UK Inflation Holds at 2.2% in August as BoE Considers Rates

Pedestrians walk across Oxford Street in London, Britain, September 17, 2024. REUTERS/Hannah McKay
Pedestrians walk across Oxford Street in London, Britain, September 17, 2024. REUTERS/Hannah McKay

British inflation stood at an annual rate of 2.2% in August, unchanged from July, but price growth in the services sector - closely watched by the Bank of England - picked up, official figures showed on Wednesday.

A Reuters poll of economists had forecast annual consumer price inflation would remain at 2.2%.

The BoE, which cut interest rates to 5% on Aug. 1, had expected inflation of 2.4% in August before rising to around 2.75% by the end of this year.

The British central bank is due to announce its latest decision on interest rates on Thursday.
"Years of sky-high inflation have taken their toll; and prices are still much higher than four years ago," Darren Jones, a junior minister at the Treasury, said, adding that more manageable inflation was welcome.

Services inflation - an indicator of domestic price pressures - rose to 5.6% from 5.2% in July. The Reuters poll had pointed to a smaller rise to 5.5%.

Sterling strengthened against the dollar immediately after the inflation data was published.