INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Algeria to help Cuba as energy shortages bite

The energy sector alone witnessed US$ 74.2 billion, or 37.3 percent growth. (File pic)
  • The announcement was made as Cuban President Miguel Diaz-Canel visited Africa's biggest gas exporter
  • Algeria will grant Cuba a solar power plant and resume the supply of fuel to allow Cuba to restart power plants and stop the power cuts

Algeria said Thursday it would restart energy supplies to Cuba and donate a solar plant to help the island tackle chronic power cuts.

The announcement was made as Cuban President Miguel Diaz-Canel visited Africa’s biggest gas exporter, the first stop on a tour that will also include Russia, Turkey and China.

Algeria will “grant Cuba a solar power plant and resume the supply of fuel to allow Cuba to restart power plants and stop the power cuts,” Algerian President Abdelmadjid Tebboune told reporters.

He also vowed to cancel interest payments on Cuban debt, without specifying figures.

Diaz-Canel said this was an “important” demonstration of support.

Since May, Cuba has been facing both frequent power cuts and fuel shortages.

Algeria and Cuba have had friendly relations for decades, with the first Cuban doctors dispatched to the North African country in 1963, just a year after its independence from France.

Diaz-Canel said he and Tebboune had a “convergence of views on international and regional issues of common interest”.