The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
The tax to come into effect in January 2015 will be levied at 120 rand ($14) per tonne of carbon dioxide and will be subject to a 10 percent increase every year for the first five years.
“To soften the impact, a tax-free exemption threshold of 60 percent will be set with additional allowances for emissions-intensive and trade-exposed industries,” he proposed in his 2013 budget speech.
The new carbon tax will see the phasing out of the existing electricity levy, a tax on non-renewable and nuclear energy.
He said government will also back incentives to upgrade fuel refineries and the production of bio-fuel in a bid to boost output of cleaner fuel in the country.
“We are also encouraging the private sector and smaller public entities to be creative and develop low-carbon projects,” he said.
The government has pledged to reduce domestic greenhouse gas emissions by 34 percent by 2020 and by 42 percent by 2025.
The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
She was shopping in Hong Kong, where she was on vacation with her family, when someone spotted her and asked if she'd like to become a model.
After the October 7 attacks, Israel imposed a complete siege on Gaza, blocking food, water and medicine, before eventually allowing some deliveries
The event highlighted Hilton's innovative ‘Green Ramadan’ initiative and its commitment to sustainable hospitality in Hilton
On every 19th of Ramadan, the country celebrates Sheikh Zayed Humanitarian Day to commemorate the humanitarian efforts of the founding father
Customers can earn miles with every purchase made with any linked payment card across all Union Coop stores and online
People will be trained for a couple of months before they are able to drive and fly it
Conditions are likely to get humid by night time