The UAE has introduced an unemployment insurance scheme for all employees in the country. The scheme is mandatory and those who have not subscribed by the deadline of June 1 will face fines following the one month grace period ending on June 30. The mandatory job loss insurance is applicable for all employees in the Emirates […]
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Natural gas prices could dip below zero in Europe: Report
Natural gas prices in Europe are likely to plummet further on lackluster demand from power generation and industry. This downward trend has led traders and industry officials to consider the possibility of day-ahead prices dipping below zero in some European markets during the summer, according to a report by Oilprice. According to the report, several […]
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Saudi Arabia’s energy megaprojects: 3 upcoming developments you need to know about
Saudi Arabia has announced several ambitious plans to launch a wave of megaprojects that are set to transform the country into a global economic powerhouse, as reported by Arabian Business. With investment totaling billions of dollars, the kingdom is embarking on a journey to diversify its economy away from oil, create jobs, and boost its international standing […]
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Qatar reports trade surplus of $6 billion in April 2023
Qatar’s Planning and Statistics Authority released a report highlighting a trade surplus of 22 billion Qatari riyals ($6 billion) in April 2023. This represents a 3.5% increase compared to the previous month but indicates a decline of 35.6% on an annual basis. During the same period, the value of merchandise imports dropped by 6.3% year-on-year […]
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Dubai’s 2050 emissions-free plan to save $817 million
Dubai public transport will be entirely emissions-free by 2050, according to the city Roads and Transport Authority (RTA). The RTA said its new plan will result in reducing CO2 emissions by 10 million tonnes while also saving $817 million in comparison to current operations. The plan includes electric taxis, net zero buildings and sustainable waste management […]
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Kuwait relaunches tenders for Az-Zour North and Al-Khairan projects
Kuwait authorities have announced the cancellation of the tenders issued for Az-Zour North Phase 2 & 3 integrated water and power project (IWPP), Al-Khairan Phase 1 IWPP and the re-issuance of the qualifying companies to participate in a tender for the development, financing, design, procurement, engineering, construction, testing, commissioning, operation, maintenance and transfer of the projects. Az-Zour […]
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TotalEnergies selected for $4.5 billion hydropower project in Mozambique
Mozambique has selected a consortium including TotalEnergies and Electricite de France in a $4.5 billion hydroelectric project in the south-east African nation as investment in clean energy continues to climb. The 1,500-megawatt Mphanda Nkuwa dam and an associated transmission line is aimed at easing the power crisis in the region, Bloomberg reported on Friday, citing a government statement. Japan’s Sumitomo […]
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