Almarai sells stake in telecom Zain KSA for $21.6m, plans full divestment

Almarai sells stake in telecom Zain KSA for $21.6m, plans full divestment
Almarai sells stake in telecom Zain KSA for $21.6m, plans full divestment

Thank you for reading the news about Almarai sells stake in telecom Zain KSA for $21.6m, plans full divestment and now with the details

Jeddah - Yasmine El Tohamy - BRUSSELS: The EU on Wednesday presented a “toolbox” of measures to mitigate an energy crunch that threatens to send Europeans’ power bills soaring.

The European Commission has been under pressure to act on the looming crisis, even though individual EU governments are more directly responsible for their energy sources and taxation.

Consumers’ “concern is understandable, justified,” said EU Energy Commissioner Kadri Simson as she unveiled the proposals.

“Winter is coming and for many, electricity bills are higher than they have been for a decade. We have seen gas price surge across the world driven mostly by demand in Asia.”

The main reason for the energy prices surge is that economies are bouncing back strongly from the effects of the coronavirus pandemic.

Wholesale natural gas prices, the lead indicator for overall energy prices in Europe, have more than tripled this year. Oil and coal prices have also jumped. Those spikes are expected to feed through to bills for households and businesses in coming months.

The energy issue will headline an EU leaders' summit next week.

The list of options the European Commission presented include emergency payments — perhaps in the form of energy vouchers — to poorer households.

Consumers should also be allowed to defer paying bills, and taxes and levies that can account to more than a third of the cost of those bills could be reduced or suspended, the Commission said.

It stressed, however, that these proposals must be “temporary” and “targeted.”

Medium-term proposals also presented were vaguer.

They focused on boosting investment in renewable energy sources and pan-European grids — measures already charted as the EU re-gears itself to become carbon-neutral by 2050.

These were the details of the news Almarai sells stake in telecom Zain KSA for $21.6m, plans full divestment for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV The latest developments in the sudden malfunction that hit the most...
NEXT Hermes Research Tops Institutional Investor’s Best Frontier Market Ranking

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]