Energy costs and insecurity are having a significant impact on the workforce, with decreased investment in employees
energy prices
Latest in energy prices
electricity consumption fees
Kuwait reveals electricity, water bills to increase by 50%: Report
The price rise will be implemented upon the approval of the Kuwait National Assembly
Dana Gas
Dana Gas’ 2022 adjusted net profit up 53 percent to $196mn
Production in Iraq reached a record level in January 2023; Concerns remain about collections in Iraq and foreign currency withdrawals in Egypt
energy prices
Saudi Arabia inflation slows down to 3% in October
The drop in inflation rate was seen for the first time since May 2021, data released by the General Authority for Statistics (GASTAT) showed on Tuesday
climate change
Egyptians showering less amid sky-high energy prices, survey reveals
According to a survey, in three out of nine countries, individuals have changed their showering habits to save water and energy costs
cost of living
Saudi Arabia capped local gas prices in bid to protect economy, Minister of Finance Mohammed Al-Jadaan says
The decision was taken in anticipation of global economic uncertainty, the minister said
commodity prices
Forget economic woes, Pakistan’s biggest problem right now is water
Financial challenges are topping headlines, but flooding should be top of the agenda
consumer price index
Surging inflation rate in US sparks fear of recession
The 9.1 percent increase was the highest in almost 40 years, prompting fears that rates will be hiked by almost 1 percent; Biden says data is “out of date”
carbon emissions
How wind power can help the Middle East cost-control its commercial fleet
With the cost of marine fuel anything but stable, the Middle East should look to renewable energy for a sustainable future
energy prices
UAE fuel prices increase around 10 percent in July: Everything you need to know
Petrol prices in the UAE will increase again in July – following months of significant increase since March of this year.
Careem
Uber raises UAE fares as petrol prices continue to rise
Fuel prices are being hit by a global squeeze on commodities
Arab Light Crude
Saudi Aramco lowers oil prices for first time in four months amid uncertainty around Russian supplies
Aramco’s decision comes days after OPEC+, led by Saudi Arabia and Russia, agreed to continue increasing crude output only gradually, adding 432,000 barrels a day to the market in June
Arab Economic Outlook Report
Inflation in Arab countries to increase 7.5 percent in 2022 as food and energy prices rise: Arab Monetary Fund
Arab Central Banks and other monetary authorities will implement unconventional monetary policy tools to increase financial inclusion, support recovery, and stimulate economic activities, the Arab Monetary Fund report stated
commodity
Saudi Arabia, UAE escape stagflation despite increase in energy, commodity prices due to Russia-Ukraine crisis
The pace of job creation in the UAE was “only marginal” as some firms tried to cut employee costs, an S&P Global report stated, adding that companies were confident activity would rise over the coming year
Aramco
Energy prices halt rise as Houthi militia calls for ceasefire after Saudi response to Aramco attack
Bomb-laden drones have targeted Saudi Arabia and the UAE through January and February, indicating an escalation in regional violence at a time when energy prices are surging due to the Russia-Ukraine conflict