INSEAD Day 4 - 728x90

Energy

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

France drops renewables targets in new energy bill

The proposed text affirms "the sustainable choice of using nuclear energy as a competitive and carbon-free" source of electricity. But...

Economy

UAE announces reduction in fuel prices for January

ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...

Business
Economy

Russia resumes critical gas supplies to Europe via Nord Stream

Russia on Thursday resumed critical gas supplies to Europe through Germany, reopening the Nord Stream gas pipeline after 10 days,...
  • The German government had feared that Moscow would not reopen the pipeline after the scheduled work
  • Gazprom has cut flows to Germany via the vital Nord Stream 1 pipeline by some 40 percent in recent weeks
Science

Are EVs driving towards greener world or uncertainty?

Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...
  • Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
  • Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
Economy

Turkey to resume drilling for gas near Cyprus: minister

Turkey next month will resume drilling operations near the divided island of Cyprus, a top official said Wednesday, threatening to...
  • Turkey had been drilling near waters claimed by its historic rival Greece and the self-declared Turkish Republic of Northern Cyprus (TRNC) recognized only by Ankara
  • The 2020 crisis was smoothed over when Turkey pulled back a research vessel from the resource-rich region and halted its drilling operation near the island
Economy

Libyans at boiling point amid summer power cuts

The people of Libya are enduring electricity cuts of up to 18 hours a day, despite their country sitting atop...
  • The electricity crisis is just the latest trial for Libyans after a decade of insecurity, fuel shortages
  • Many of Libya's seven million people have turned to unreliable, gas-guzzling and polluting generators for electricity
Science

‘Hydrocarbon trade must finance transition to clean energy’

A study in the journal Nature Climate Change found that within this century, parts of the Gulf region could be...
  • The international community largely agrees that climate change poses an existential threat to the planet.
  • Meteorologists are predicting more frequent and intense episodes of extreme weather in coming years.
Geostrategy

Egypt President says world must jointly deal with energy crisis

Egypt's President Abdul Fattah Al-Sisi underscored the importance of coordination and cooperation among all countries of the world to confront...
  • Egypt's President Abdul Fattah Al-Sisi said global coordination and cooperation is necessary to deal with the energy crisis
  • He said Egypt is determined to coordinate with friendly countries to tackle tension in its neighborhood
Economy

MENA Forum 2022 to focus on US$250b worth of power projects

The combined investments in the MENA power sector includes US$93 billion which has already been committed.
  • The combined investments in the MENA power sector includes US$93 billion which has already been committed
  • US$60 billion worth of power projects are being developed in Saudi Arabia, followed by Egypt with US$37 billion worth of projects
Business

European Union seeks to double gas import from Azerbaijan

Azerbaijani President Ilham Aliyev said last week that "an important document on energy security will be signed between the European...
  • Last year, Azerbaijan supplied some 8 billion cubic meters of natural gas to Europe through pipelines running via Georgia and Turkey.
  • In May, EU leaders agreed to stop most Russian oil imports by the end of 2022, as part of unprecedented sanctions they slapped on Moscow.
Business

Capacity of DEWA IPP projects exceeds 4,000 MW

IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects.
  • IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects
  • DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices
Geostrategy

Iraqi PM calls for joint efforts to tackle issues facing region

Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...
  • The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
  • Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region

France drops renewables targets in new energy bill

The proposed text affirms "the sustainable choice of using nuclear energy as a competitive and carbon-free" source of electricity. But...
Economy

Company News

Latest News

National Leasing’s profits hit $2.37m

A jump of 28 percent in net profit vis-a- -vis H1 2022.
Business

Egypt energy-saving measures evoke satirical reaction among citizens

Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and...
Arts & Culture

Fire at substation in Iraq sparks nationwide power outage

Baghdad, Iraq--A fire at an electricity substation in southern Iraq triggered a nationwide power outage Saturday, authorities said, just as demand peaks...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ExxonMobil Q2 profits $7.9bn

Profits fell on lower refining margins, natural gas prices.
  • Natural gas prices are down sharply from the year-ago period following a mild winter.
  • The comparative weakness in refinery margins reflects sluggish economic conditions.
Business

Major energy firms post sliding profits as oil and gas prices dip

Gas prices had soared last year after Russia cut gas shipments to Europe while oil markets were also rocked by...
  • Shell on Thursday said its profit after tax came in at $3.13 billion in the second quarter (Q2), down 80 percent compared with Q2 last year.
  • French group TotalEnergies said its net profit dropped 28 percent to $4.1 billion in the second quarter from a year earlier.
Economy

Kuwait posts fiscal surplus after almost a decade, says finance ministry

Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...
  • More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.
  • Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.