Saudi Arabia Operates New Salwa Crossing with Qatar

The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)
The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)
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Saudi Arabia Operates New Salwa Crossing with Qatar

The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)
The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)

Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, launched on Monday the trial operation of the passengers’ section at the new Salwa crossing, which links Saudi Arabia with Qatar.

He noted that the crossing would primarily contribute to enhancing vehicle and passenger traffic, in addition to promoting trade volume exchange and economic relations between the two Gulf states.

“The Kingdom’s advancement in various fields contributed to achieving sustainable development,” Prince Saud said, adding that many vital projects implemented in Saudi Arabia have become the focus of the world’s attention.

These projects “draw a road map towards a promising future in line with the Kingdom’s 2030 vision, through the development of the infrastructure of the land ports in the Kingdom,” he remarked.

For his part, Governor of Zakat, Tax and Customs Authority of Saudi Arabia Eng. Suhail bin Mohamed Abanmi said that the new Salwa border crossing project has been fully equipped with the essential integrated services and utilities for the clearance of all passing vehicles and passengers.

The border crossing would represent a vital factor in enhancing vehicle and passenger traffic, in addition to promoting trade volume and economic relations between the two countries, he added.

He stressed that the authority has worked on holding a number of strategic partnerships with entities in the public and private sectors, relying on best practices in the design, development and operation of the port infrastructure, thus contributing to strengthening the Kingdom’s economy, and facilitating all land transit operations between the Kingdom and neighboring countries.



Turkish Annual Inflation Falls More Than Expected to 44.38%

A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
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Turkish Annual Inflation Falls More Than Expected to 44.38%

A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo

Turkish annual consumer price inflation fell more than expected to 44.38% in December, official data showed on Friday, with education, housing and restaurant prices leading the rise.

Month on month, inflation was 1.03%, the Turkish Statistical Institute said, compared with 2.24% in November. Annual consumer price inflation (CPI) was 47.09% in November.

Furniture prices rose 2.78% from the previous month, data showed, while telecoms-related prices gained by 1.82%.

In a Reuters poll, the annual inflation rate was expected to fall to 45.2%, with the monthly figure seen at 1.61%, owing to easing food price inflation and a limited rise in energy prices.

The latest inflation print was close to the central bank's midpoint prediction of 44% for the end of 2024.

The bank, having kept its main interest rate steady at 50% since March, launched an easing cycle last week, cutting the policy rate by 250 basis points to 47.5%.

The bank said it will set policy "prudently" meeting by meeting with a focus on the inflation outlook while responding to any expected "significant and persistent deterioration".

The Turkish lira was little changed after the data at 35.3850 to the dollar, hovering around the record lows.

The domestic producer price index was up 0.4% month on month in December for an annual rise of 28.52%, the data showed.