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Bloomberg Italian electricity prices traded near record highs, heightening government concerns about the impact soaring energy costs will have on consumer power bills. The average weekly price of power soared 17% to 163 euros ($191) per megawatt-hour last week, according to data from the country’s Energy Market Manager. Power prices are expected to climb 40% in the third quarter, Ecological ...

Bloomberg Emergency unemployment benefits in the US expired two weeks ago, but employers who expected an increase in job applications are still largely waiting for them to roll in. Federal programs that had offered an extra $300 per week for jobless Americans, provided extended benefits for the long-term unemployed and gave special aid for the self-employed expired on September 6. ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the allocation of AED65 billion to an Emirati housing programme in Dubai. The budget will be spent over the next two decades to provide quality housing for Emiratis. His Highness also issued directives to quadruple the ...

Abu Dhabi / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has led an official delegation to New Delhi to launch talks on expanding trade and investment relations. During the official economic mission, Dr. Al Zeyoudi and Shri Piyush Goyal, India’s Minister of Commerce and Industry, jointly established the India – United Arab Emirates Comprehensive ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) and the National Emergency Crisis and Disasters Management Authority (NCEMA) announced on Wednesday that it is not mandatory to wear a face mask in certain places while keeping a safe physical distance of two metres. According to new decision, face masks will no longer be mandatory when exercising in ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced that, following approval from the UAE Securities and Commodities Authority (SCA), it increased the number of ordinary shares offered in the Initial Public Offering (IPO) of Adnoc Drilling from 1,200,000,000 ordinary shares to 1,760,000,000 ordinary shares, which equates to 11 percent of Adnoc Drilling’s total issued ...

DUBAI / WAM Dubai’s real estate market is witnessing continuous growth and increased investment attractiveness on the cusp of the largest international event in the region, Expo 2020 Dubai. According to the 18th edition of Mo’asher, Dubai’s official sales price index, launched by Dubai Land Department (DLD) in cooperation with Property Finder, August 2021 is the second-highest month since December ...

DUBAI / WAM Maersk Kanoo UAE, an integrator of container logistics, on Wednesday signed an agreement with DP World’s leading trade and logistics hub, Jebel Ali Free Zone (Jafza) to set up its first Warehousing & Distribution (W&D) facility in the UAE. Christopher Cook, Managing Director, Maersk UAE, and Abdulla Bin Damithan, CEO & Managing Director, DP World – UAE ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), received Miriam Dalli, Minister of Energy, Enterprise, and Sustainable Development of Malta and Maria Camilleri Calleja, Malta’s ambassador to the UAE, to discuss bilateral cooperation in renewable energy, innovation, and sustainability. Waleed Bin Salman, Executive Vice President of Business Development and Excellence and ...

Abu Dhabi / WAM The UAE will join Kingdom of Saudi Arabia in celebrating the Kingdom’s 91st National Day, which falls on September 23. The UAE’s official and public participation in this year’s celebrations, held under the slogan “Together Forever”, confirms the deep ties between the two countries. The strong historic relations between the two countries have guaranteed the security ...