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.

Polls for Iraq Kurd parliament postponed to June

Iraqi Kurds announced that polls to elect a new parliament in the autonomous region would be held in June, after...
  • Regional president Nechirvan Barzani signed the order for the elections to be held on June 10, a presidency statement said.
  • In August last year, authorities announced polling would take place on February 25 after consultation with the parties.

Saudi, UAE and Iraq extend oil cuts, Russia to slash output by 471,000 bpd

An energy ministry source said Riyadh "will extend its voluntary cut of one million barrels per day, which was implemented...
  • Russia will cut oil production by almost half a million barrels per day in the second quarter of 2024, the government said, as part of a move to boost prices.
  • Iraq will extend its voluntary oil production cut of 220,000 bpd and UAE follows suit, says its production will remain at 2.912 million bpd.

Iran conservatives secure bulk of seats in elections: media

Authorities were still counting ballots two days after Friday's vote for members of parliament and for the Assembly of Experts,...
  • Fears of a low turnout had swirled ahead of the elections after a state TV poll found more than half of respondents were indifferent about the elections.
  • Turnout in Tehran was around 25 percent, with ultraconservative candidates securing 12 of the 30 parliament seats allotted to the capital.

Young Iraqis seek desert retreats for a change from the hustle of big cities

SAMAWAH, IRAQ – Far from the hustle and bustle of major cities, young Iraqis are increasingly taking advantage of a renewed...
  • For years, only the most intrepid of hikers and campers would brave the trips into Iraq's desert.
  • With the rise of social media and a period of relative stability, it has become a popular destination.

Cargo ship sunk by Houthis poses environmental risk, says US military

Yemen's government also said earlier Saturday that the ship which was departed UAE and was bound for the Bulgarian port...
  • Houthis claimed the February 18 attack against the Rubymar, a cargo ship flying a Belizean flag and operated by a Lebanese firm, which transported combustible fertilizers
  • US Central Command (CENTCOM) confirmed late Saturday that the vessel "sank in the Red Sea after being struck" by an anti-ship ballistic missile last month

Gaza truce talks set to resume in Cairo as heavy fighting rages

The Hamas official said that if Israel were to meet its demands -- which include a military withdrawal from Gaza...
  • In a sign of the worsening humanitarian crisis in the narrow coastal territory, ministry spokesman Ashraf al-Qudra said at least 16 children had died of malnutrition in recent days
  • A United Nations team that visited a Gaza City hospital reported seeing "a large number" of gunshot wounds among Palestinians in the aftermath of the incident.

Israeli strike near Gaza’s Rafah hospital kills 11

A paramedic was among those killed and children were wounded in the blast close to the Emirati Maternity Hospital, ministry...
  • The Israeli army said it had carried out a "precision strike" in the area of the hospital
  • WHO chief Tedros Adhanom Ghebreyesus said the strike was "outrageous and unspeakable"

Trump wins vote in 3 states, edging toward nomination

The voting Saturday in Missouri, Michigan and Idaho were hybrid internal elections with differing rules, in some cases reflecting rifts...
  • Trump has now won every state nominating contest heading into next week's "Super Tuesday"
  • The former president has gained huge momentum in the race to capture the Republican nomination

SpaceX launch taking crew to ISS delayed again by weather

Hours before Saturday night's scheduled launch, SpaceX posted on X that "elevated winds" forced the delay. It was the latest...
  • The company announced that the launch was delayed, and NASA said the agency would now target Sunday at 10:53 pm for liftoff
  • The SpaceX Crew Dragon named Endeavour is to carry the four atop a Falcon 9 rocket from the Kennedy Space Center in Florida

Israelis take to streets to demand release of hostages

As the peaceful demonstration was underway in Jerusalem, a senior US official said a truce deal which may see hostages...
  • Netanyahu's government has faced mounting calls to bring home the 130 captives
  • In almost five months of Israel's war on Gaza at least 30,320 people have been killed

Anthropic announces massive AI chip deal with Google

San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...

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Birth of a solar system observed for first time

The new planetary system is forming around the baby star HOPS-315 -- which resembles our own Sun in its youth...

Israel launches strikes in Syria’s Druze area in defence of religious minority

Israel has sought to portray itself as a defender of the community, while also warning the Syrian government against maintaining...

Trump says any ‘credible’ Epstein files should be released

President Donald Trump said Tuesday the US Justice Department should release all "credible" information from its probe into notorious sex...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Trump to unveil investments to power AI boom

Washington, United States - US President Donald Trump heads to Pennsylvania on Tuesday to announce energy and infrastructure deals intended...
  • Trump will make the announcement at the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University
  • The tech world has fully embraced generative AI as the next wave of technology, but fears are growing that its massive electricity needs cannot be met by current infrastructure

China’s Baidu to deploy driverless cars on Uber

Beijing, China -- Chinese internet giant Baidu plans to launch its driverless cars on ride-hailing app Uber in Asia and...
  • Uber users in these locations may have the option of choosing to ride in a fully driverless Apollo Go car after they request a trip.
  • Driverless taxis are already on the roads with limited capacity in China, most notably in the central city of Wuhan.

Drone attack shuts Iraq oil field run by US company

Arbil, Iraq -- A drone strike forced a US company to suspend operations at an oil field in Iraq's autonomous...
  • The attack followed a similar drone strike a day earlier on an airport in neighboring Arbil province, which hosts US troops.
  • Long plagued by conflict, Iraq has frequently experienced such attacks, often linked to regional proxy struggles pitting Iran against the United States and its ally Israel.