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.

World unites at COP28 to shift away from fossil fuels

Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...

COP28 UAE

ENEC, X-energy sign agreement

The firms will collaborate on nuclear energy technologies.

Business
Economy

Gas prices soar to record highs as Ukraine crisis stokes supply fears

Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine's invasion by key producer Russia...
  • Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm.
  • Europe's London Brent North Sea crude leapt 4.7 percent to $115.63 per barrel, having surged to a 2012 peak close to $120 on Thursday.
Business

Middle East Energy opens next week, will focus on energy transition

Policymakers, business leaders, and industry experts from the energy industry will converge in Dubai next week to participate in Middle...
  • The speakers will also be participating in the Global Energy & Utilities Forum which will provide a platform for industry experts to discuss multiple subjects.
  • The event focuses on Transmission & Distribution, Smart Solutions; Renewable & Clean Energies; Backup Generators & Critical Power; and Energy Consumption & Management.
Geostrategy

Germany voices opposition to postponing Iran nuclear deal

Israel has said that regardless of any agreement that may be reached in Vienna, it would maintain full freedom to...
  • The latest round of negotiations to salvage Iran's 2015 nuclear deal started in late November
  • The deal, known as the Joint Comprehensive Plan of Action (JCPOA), secured sanctions relief for Iran
Economy

Biden says US will contribute half of 60 mn emergency oil barrel release

The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to...
  • The decision aims to "send a unified and strong message to global oil markets that there will be no shortfall in supplies," the IEA said in a statement earlier
  • The invasion came "against a backdrop of tight global oil markets, price volatility, commercial inventories that are at their lowest level since 2014," the statement said
Economy

Brent oil breaks $110 a barrel, WTI up 5% on Ukraine conflict

Brent crude broke above $110 a barrel on Wednesday and WTI was up more than five percent as Russia's invasion...
  • Brent climbed 4.88 percent to $110.09, while WTI was up 5.06 percent at 108.64
  • The conflict in eastern Europe came as prices were already soaring owing to tight supplies
Business

Shell to sell stakes In Gazprom

Action followed after Russia's invasion of Ukraine.
  • The announcement came after UK Foreign Secretary Liz Truss said more than 3 million Russian companies would be unable to access funding from London-based financial institutions
  • European football's governing body UEFA also ended its estimated 40-million-euro sponsorship deal with Gazprom
Business

Italy looks to Algeria to cover possible gas shortage

Italy imports around 95 percent of the gas it uses, and around 45 percent of that comes from Russia.
  • Russia last week invaded Ukraine, causing the United States and its allies to impose sanctions on Moscow
  • The conflict also sparked alarm among countries like Italy, which depend on Russia for their energy needs
Economy

DEWA completes Smart Grid Strategy short-term goals, installs 2m smart meters

Dubai Electricity and Water Authority (DEWA) has said it completed all short-term goals of its Smart Grid Strategy 2014-2035 as,...
  • Between 2015 and 2020, it replaced all electricity and water meters with smart meters, a deployment of over two million smart meters.
  • Between 2015 and 2017, DEWA fully automated its transmission network connected to the 400kV and 132 kV substations.
Economy

Oil and safe havens rally, ruble sinks on Russia sanctions

Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over...
  • Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over its invasion of Ukraine
  • Russian President Vladimir Putin's decision to send troops across the border last week has sent shivers through trading floors as investors fret over a protracted war
Geostrategy

Russia on nuclear alert as Ukraine fiercely resists invasion

President Vladimir Putin ordered on Sunday Russia's nuclear forces onto high alert in response to what he called ‘unfriendly’ steps...
  • Russia invaded on Thursday and quickly announced it had neutralized key Ukrainian military facilities, but fierce fighting has since raged
  • Ukraine forces, backed by Western arms, are stymieing the advance of Russian troops, while the US leads Western condemnation and sanctions

World unites at COP28 to shift away from fossil fuels

Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
COP28 UAE

Company News

Latest News

RTA signs strategic partnership agreement with Al-Futtaim Automotive

DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has signed a strategic partnership agreement with Al-Futtaim Automotive to deploy...
Business

SEWA, US delegation explore collaboration in innovation, sustainability

Sharjah, UAE - Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA Sunday discussed the authority's initiatives to reduce emissions and...
Geostrategy

Iran’s supreme leader urges cooperation with IAEA

Iran's supreme leader urged continued cooperation with the UN nuclear watchdog, while warning against succumbing to "bullying" based on "unfounded...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

45 governments endorse doubling energy efficiency by 2030

PARIS, FRANCE -  Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of...
  • The meeting stressed as to how energy efficiency can help accelerate clean energy transition toward reaching net zero emissions by 2050.
  • The meeting underscored that effective policies must be fully leveraged to encourage behavior change among consumers and businesses.
Business

DEWA’s R&D Center develops technology to simulate leaks in water transmission pipes

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) ’s Research and Development (R&D) Center has developed an advanced, smart...
  • The center developed the facility using software and hardware, based on the concept of the Internet of Things (IoT).
  • Based on experimental data using the facility, the developed algorithm was able to identify leakage events with 94.4 percent accuracy.
Business

UK to scrap energy windfall tax if oil, gas prices drop further

The UK government said it would scrap a windfall tax on the energy sector should oil and gas prices drop...
  • The government said it would return to 40 percent should average Brent North Sea oil fall to, or below, $71.40 per barrel for two quarters in a row.
  • Should prices remain above historical norms, the windfall tax would remain until October 2028 as previously announced.