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Türkiye Raises Euro Rate for Medicine Prices by 30.5%

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
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Türkiye Raises Euro Rate for Medicine Prices by 30.5%

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo

Türkiye has raised the euro-lira conversion rate for medicine prices by 30.5% to 14.0387 lira per euro, the country's Official Gazette showed on Sunday.
The updated conversion rate is nearly half the market rate, with the lira standing at 29.9727 against the euro at Friday's close, Reuters said.
The increase in medicine prices could further stoke inflation, which is already expected to rise more this year due to the lira's depreciation and recent tax hikes introduced by Ankara. Economists are revising their end-2023 inflation forecasts to around 60% from 38.21% in June.

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Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
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Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held official talks on Sunday with US Secretary of Energy Chris Wright as part of his current visit to the Kingdom.

The talks at the ministry headquarters in Riyadh focused on strengthening the strategic relationship between Saudi Arabia and the US in the mining and minerals sector.

They explored ways to expand cooperation in the mining sector and emphasized the importance of minerals in the energy transition, advanced technology industries, and modern economies linked to clean energy, as well as their significance in the electric vehicle industry and its components.

The two sides discussed ways to boost economic cooperation and high-value investment opportunities in both countries and the enablers available to leverage these opportunities in support of deepening their longstanding partnership.

Alkhorayef invited the US energy secretary to attend the Future Minerals Forum, which will be held in Riyadh next year.

Wright later visited the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran. He was welcomed by Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, KFUPM President Muhammad Al-Saggaf, and senior university officials.

Wright was briefed on the university's academic and research specializations, as well as its efforts to foster innovation and develop human capital in the fields of energy, engineering, and science. He met with faculty members and students and learned about the university's initiatives to advance educational and research programs in line with the highest international standards.

He was introduced to KFUPM’s international collaboration and academic exchange programs, particularly those with leading US institutions, which are designed to foster knowledge sharing, encourage joint learning, and provide students with global exposure that enhances both their academic growth and career prospects.

This visit underscores KFUPM’s role as a leading academic and research institution in the energy sector and strengthens research and academic cooperation between Saudi Arabia and the US.