INSEAD Day 4 - 728x90

Energy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

‘Nuclear solutions remain key to sustainable future’

“In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...

Economy

Russia, Saudi say sovereign Palestine state vital for regional peace

RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...

Geostrategy
Business

Aramco profits doubled in 2021

The rise was due to crude prices, as the global economy recovered.
  • Aramco's net income increased by 124 percent to $110 billion in 2021, compared to $49 billion in 2020
  • It had achieved a net income of $88.2 billion in 2019 before the coronavirus pandemic hit global markets
Business

LNG projects in the Gulf of Mexico boosted as Russian gas alternative

The White House had earlier said that "federal policies are not limiting the production of oil and gas."
  • Tellurian's future liquefaction plant will export 3.6 billion cubic feet LNG per day once completed
  • The US administration has also said that supply must keep up with demand of energy for the short term
Business

GCC airfares soar as oil prices rise

The amplifying factors include sanctions against Russia’s aviation sector, which cast a global pall over the aviation industry.
  • Several Arab airlines have decided to raise the prices of their tickets slightly
  • Kuwait’s Jazeera Airways increased fares to all destinations from March 7
Economy

Italy to tax energy profits to ease price burden

The amount generated is expected to help families and businesses struggling with high bills.
  • The money will help fund a new €4.4-billion package to ease the pain of high energy prices
  • This apparently comes on top of the €16 billion Italy has already spent in recent months
Geostrategy

Powered solely by renewables, PORRIMA docks at Dubai Harbour

Dubai Harbour welcomed the Swiss experimental vessel powered solely by renewables, PORRIMA, to its marinas on Thursday as part of...
  • The first-of-its-kind solar, wind and hydrogen-powered ship has travelled more than 11,000 kilometers without stopping since departing Osaka, Japan, on December 18, 2021.
  • Now, using solar, wind and hydrogen, the 36-metre 100-tonne vessel also utilizes artificial intelligence and technologies inspired by nature.
Economy

OPEC projects UAE economy to grow rapidly in 2022

OPEC Monthly Oil Market Report has predicted the UAE's economic growth to quicken in 2022.
  • OPEC released the reports on Tuesday where it credited tourism as one of a factor for the economic growth
  • Further, the rise in crude oil prices would also be a reason for rapid economic growth, said the OPEC reports
Economy

IEA cuts oil demand outlook, fears Russia supply ‘shock’

The International Energy Agency cut its world oil demand forecast for 2022 on Wednesday, warning that sanctions against Russia over...
  • Russia, the world's biggest exporter of oil, has been hit with a slew of international sanctions over the war in Ukraine, which sent oil prices soaring.
  • While the measures exclude the energy market, the IEA said major oil companies, trading houses, shipping firms and banks have "backed away from doing business with the country".

Construction of 230 MW Masdar solar plant in Azerbaijan begins

Renewable energy company Masdar announced the formal start of construction for its 230-megawatt (MW) Garadagh Solar PV Plant in Azerbaijan,...
  • Masdar signed agreements to develop the Garadagh project, located nine kilometers northwest of the Alat settlement, in April last year.
  • The project will help generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 houses.
Geostrategy

Promote bicycles to combat climate change: UN

It calls on member states to "integrate the bicycle into public transportation, in urban and rural settings in developing and...
  • The resolution, proposed by Turkmenistan, was passed unanimously and like all General Assembly resolutions is non-binding.
  • The resolution encourages member states to "give special attention to cycling in cross-cutting development strategies, including bicycle sharing services,"
Geostrategy

British PM meets Saudi Crown Prince to plead for oil

British Prime Minister Boris Johnson met with oil-rich Saudi Arabia's Crown Prince Mohammed bin Salman to lobby for higher production...
  • "It's not just a question of looking at the OPEC countries and what they can do to increase supply, though that is important," Johnson told British media
  • Saudi Arabia and the UAE, which are two of the world's biggest oil exporters have so far avoided taking a position against Russia.

‘Nuclear solutions remain key to sustainable future’

“In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...
Economy

Company News

Latest News

UAE Ministry of Energy joins National ICV Program

DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
Business

GCC ramps up ESG efforts amid green investment push

Businesses are getting ready for COP28 by moving from starting ESG programs to growing them, and those who know the...
Business

Green activists cry foul as Shell decides to steady oil production

Campaign group Global Witness labelled Wednesday's announcement as a "climate-wrecking U-turn", urging it instead to invest far more in cleaner...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Regulating energy providers crucial for sustainability

“The new policy will contribute to the UAE’s GDP and help achieve financial returns that amount to AED21.5 billion (US$5.85bn)...
  • UAE enforces policy to regulate energy providers, boost infrastructure, and foster investments, innovation, and modern technologies in the sector, says energy minister Al Mazrouei
  • The new policy outlines contractual frameworks and public-private partnerships, targeting energy and water consumption reduction, carbon footprint, and building operational costs
Geostrategy

Saudi Arabia announces international conference on Sudan aid

Saudi Arabia announced that it would jointly lead a conference on the humanitarian response to the war in Sudan next...
  • Saudi Arabia and the United States have been mediating in the eight-week conflict.
  • The kingdom played a leading role in evacuating thousands of foreigners from Sudan early in the war.
Geostrategy

Iranian nuke expert, EU officials review Tehran’s atomic program

A landmark deal in 2015, formally known as the Joint Comprehensive Plan of Action (JCPOA), gave Iran sanctions relief in...
  • Germany's foreign ministry said the meeting took place on Monday and that discussions broached topics concerning Iran's nuclear program.
  • Iran's nuclear program has long been the subject of scrutiny from Western powers, resulting in sanctions that have hit the country's economy.