A fine of not less than Dh100,000 an not more than Dh1 million in case of violating exchange and refund rules, promoting goods that may harm the consumer or price manipulation
Before, price manipulation
cases required the agency to prove traders had the intent and ability to manipulate prices, tried to do so, and caused an "artificial price".
Firms that involved in price manipulation
of mung bean attracted a fine of 1 million yuan ($147,700) from the agency last month, said a report in Fox News.
The plan includes distributing awareness brochures, and warning suppliers against monopoly practices or price manipulation
Al-Haroun warned of any price manipulation
or unjustifiable hike without taking the necessary measures in this regard, stressing that "the ministry would punish all offenders and those who tempt to manipulate the pockets or the health of consumers.
Al Nuaimi instructed sales outlets to put price tags on products according to federal law 24/2008, thus ensuring protection of consumers from any price manipulation
during the Ramadan.
Saudi Arabia's bourse regulator is probing 92 cases of suspected violations including price manipulation
and improper disclosure, the regulator's chief said in remarks published in the press.
Chinese financial magazine Caijing had earlier reported that Wong was detained by police last week amid a probe into allegations of share price manipulation
involving a company controlled by his brother.
The US and Europe have warned against such a grouping, saying it could pose a danger to global energy security and create room for price manipulation
The United States and Europe have disagreed with the idea claiming that such a group could endanger energy security and create room for price manipulation
energy exchanges to prevent price manipulation
and excessive speculation.
In a letter to President Bush and Attorney General Michael Mukasey, Sen Maria Cantwell and Representative Jay Inslee, both Washington Democrats, said the US Justice Department should start a task force to investigate oil and natural gas price manipulation