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Tag Archives: Abu Dhabi’s National Oil Co (Adnoc)

Abu Dhabi lays off staff as Gulf austerity tightens

Thousands of layoffs at state-linked companies in Abu Dhabi, UAE are a fresh sign the Gulf’s wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates, Saudi Arabia, Qatar and other countries in the region have curbed spending on some construction projects and reduced energy ...

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