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EU’s Energy Cost Challenge: High Prices Until 2050

The European Union is projected to face the highest energy prices globally until at least 2050, according to a recent study by BusinessEurope. This scenario arises from increased energy demand and inherent disadvantages within the EU’s energy framework. Even under the most optimistic net-zero scenario, the EU’s energy production costs are expected to be at least 50% higher than those in the US and China. In a scenario where climate policies encounter delays, costs could triple compared to key competitors, placing European industries at a severe competitive disadvantage.

The root causes of this cost disparity include the EU’s reliance on energy imports and geopolitical disruptions, notably the reduced gas supplies following Russia’s invasion of Ukraine. Such dynamics have exacerbated the cost challenges, prompting concerns over Europe’s ability to sustain its industrial base against global competitors like the US and China, who may capitalise on their lower energy costs to boost traditional and clean tech sectors, such as steel and wind energy.

Markus Beyrer, Director General of BusinessEurope, has called for urgent action at the EU level to address these energy cost issues. He highlighted the need for competitive energy prices to maintain Europe’s industrial competitiveness. Key recommendations from BusinessEurope include revisiting the phase-out of free carbon emission allowances for manufacturers, better integration of renewable and low-carbon energy sources, ensuring the hydrogen value chain, streamlining licensing procedures, and promoting decarbonisation through incentives.

The high energy costs remain a top concern for major European industrial leaders. Policymakers have recognised the importance of competitiveness in renewable energy as a cornerstone for the next European Commission. However, businesses continue to struggle with bureaucratic hurdles that hinder swift progress in energy transition.

UAE Job Trends For 2025: High-Demand And Lucrative Roles Revealed

The UAE’s flourishing asset management sector, bolstered by rising investor interest, regulatory advancements, and a surge in Family Offices and Ultra High Net Worth Individuals (UHNWIs), is driving demand for banking and finance talent.

Roles in fundraising and institutional sales are particularly sought after, with professionals in these fields highly valued for their regional networks and industry expertise, according to Michael Page’s UAE 2025 Salary Guides. The comprehensive report, which includes insights from 17 industries, offers an overview of current hiring trends, salary benchmarks, and the recruitment challenges businesses face.

Banking And Finance In High Demand

The report highlights a significant need for compliance professionals, especially those with experience in Dubai Financial Services Authority (DFSA) and Financial Services Regulatory Authority (FSRA) regulations. Chief Compliance Officers and Money Laundering Reporting Officers (MLROs) are among the most lucrative roles in the sector. Jon Ede, Regional Director UAE at Michael Page, pointed out that in 2024, the UAE’s workforce grew by 9%, and the number of new companies increased by 14.5%, showing the success of the nation’s strategic initiatives.

Sales, Marketing, And IT Growth

The sales and marketing sector has seen steady growth, especially in B2B industries like technology, real estate, energy, and logistics. Roles such as Business Development Manager, Chief Commercial Officer, and Strategic Sales Director are in demand, with a premium placed on business development, key account management, and communication skills.

The IT sector, meanwhile, continues to evolve rapidly, with high demand for positions like Head of Software Development, Full-Stack Software Engineer, Agile Product Manager, Senior DevOps Engineer, and Digital Adoption Specialist. The report underscores the significant shift in the UAE talent market for digital professionals in recent years.

Navigating The Skills Shortage

The study also highlights the growing skills shortage, with businesses grappling to find candidates with the right expertise. A staggering 37% of business leaders reported challenges in finding skilled talent, while nearly a third (30%) struggled with employee retention. Nearly half (48%) of employers also cited aligning salary expectations with candidates as a key obstacle.

Ede suggests that businesses can overcome these challenges by offering competitive packages that include benefits, career development opportunities, and workplace incentives, positioning themselves as attractive employers in the competitive UAE job market.

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