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UAE urges retailers to cut prices for Ramadan

The UAE economy ministry has urged retailers to reduce costs of basic commodities by 20%-50% during the holy month of Ramadan, Reuters has reported. "The ministry has given all selling outlets a period of two weeks to present their final offers for (prices of) commodities during Ramadan," Hashem al-Nuaimi, head of consumer protection at the UAE economy ministry, said. "(The ministry is) advising that the discount offers range between 20% and 50%," he said.