Gas Prices Rise to Highest Level in Asia
Liquefied natural gas prices in Asia rose to their highest level since late March, due to the continued exchange of military strikes between the United States and Iran and disruption of navigation in the Strait of Hormuz. Spot prices for LNG cargoes in Asia reached $20.2 per million British thermal units, after rising about 10% over the past week, according to Bloomberg. Intensified purchases: The war prompted Asian buyers to intensify their purchases from the spot market, as Pakistan bought an LNG cargo at the highest price in four years at about…
The Ministry of Commerce revealed that it detected 412 first indications of commercial concealment during the second quarter of this year 2026, after implementing 14,520 inspection visits to combat commercial concealment, targeting 10,626 establishments and 3,901 companies.
The ministry monitored a number of commercial concealment violations, most notably the lack of electronic payment methods and violations of the labor and residency system.
The ministry explained that the most prominent activities targeted by the visits included: central markets for food and consumer goods, popular cafes, retail sales of electronic and household electrical appliances, car service and maintenance center activities, serving fresh juices and cold drinks, and retail sales of frozen meat and poultry.
The ministry stated that the total fines and penalties for combating commercial concealment amounted to 1.14 million riyals, and included 1,119 reports of suspected concealment, 194 violations referred to the committee for reviewing violations of the Commercial Concealment Law, and two violations referred to the Public Prosecution.
The ministry indicated that the joint supervisory teams of the National Program for Combating Commercial Concealment carried out 919 inspection tours of meat sales outlets in various regions of the Kingdom, with the aim of enhancing the level of compliance in the local market and monitoring the commitment of establishments to regulations and laws.
Original source: Okaz
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