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.

We respect climate science, says COP28 head

DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...

COP28 UAE

Innovations spur Qatar’s petrochemical sector growth

"A fair, safe, and sustainable transition to low-carbon energy is crucial for protecting the planet and fostering economic growth. Achieving...

Economy
Business

ACWA Power plans to stop investing in non-renewable projects: CEO

ACWA Power has said it plans to end investment in non-renewable projects in its endeavor to reach net zero by...
  • ACWA holds a one-third stake in the massive $5 billion Neom futuristic city project, which will be powered entirely by solar and wind.
  • The company, 44 percent owned by PIF, will be "very selective" about the type of gas-powered plants, says CEO
Business

QatarEnergy partners for UK project

This is QatarEnergy and Shell’s first hydrogen agreement.
  • QatarEnergy and Shell have signed an agreement to pursue joint investments in blue and green hydrogen projects in the UK
  • It apparently establishes a framework for collaboration and joint investment to develop hydrogen solutions in the UK
Business

TAQA lands Aramco water project

The project will be used to make power and desalinate water.
  • The Abu Dhabi National Energy Company or TAQA will develop a greenfield cogeneration power and water desalination project in Saudi Arabia
  • TAQA will do this along with the Marubeni Corporation for Saudi Aramco
Science

Planned fossil fuel output shatters 1.5C climate target, says UN

The UN's Environment Program said government fossil fuel production plans this decade were "dangerously out of sync" with emissions goals.
  • The UN says emissions must go down nearly 50 percent by 2030 and to net-zero by mid-century to limit warming
  • But its Production Gap report found that total fossil fuel production would likely increase until at least 2040
Business

Oman to get green ammonia plant at Salalah

The new project, named SalalaH2, will target the production of up to 1,000 tons per day of green ammonia.
  • An international consortium has signed an agreement to develop a green hydrogen and green ammonia project at the Salalah Free Zone in Oman
  • The consortium consists of the alternative energy business unit of Oman’s national petroleum investment company OQ, Marubeni Corporation, Linde, and Dutco
Economy

Look beyond subsidies to fight high energy prices: IMF

Governments should avoid using general subsidies as a way to soften the blow from recent high energy prices, said Paulo...
  • The IMF has said generalized energy subsidies benefit rich households who don't need the support
  • In addition, they are not friendly to the environment, and in fact they lead to very negative incentives
Geostrategy

World’s clean energy transition ‘too slow’: IEA

Not enough investment is being pumped into meeting future energy needs and the uncertainties are setting the stage for a...
  • Investment in clean energy projects and infrastructure would need to be more than trebled over the next decade if energy pledges are to be met.
  • Two scenarios analyzed by IEA say global temperatures would be above 2 degrees Celsius if the world wants to achieve 1.5 degrees Celsius.
Business

DP World inks deal with MAN Energy Solutions

This is the latest in the several agreements the two companies have had over the years.
  • As a result of the agreement, both parties will now eye common progress in the field of decarbonization
  • The agreement is scheduled to run for five years with an option to extend thereafter
Economy

Iran needs $22bn to maintain gas output

Iran’s Oil Minister Javad Oji has reportedly said the country requires at this investment to maintain the production level of...
  • About 50 percent of Iran's gas reserves are in Bushehr province
  • This is true for about 10 percent of the country’s oil reserves as well
Economy

Lebanon in blackout as power stations run out of fuel

State electricity in most places is barely available for an hour a day amid rolling power cuts
  • State electricity in most places is barely available for an hour a day amid rolling power cuts
  • The Mediterranean country is battling one of the planet's worst economic crises since the 1850s

We respect climate science, says COP28 head

DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...
COP28 UAE

Company News

Latest News

ADNOC inks pact with SeaOwl to design unmanned vessels

ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl...
Business

Aramco’s plans to produce blue hydrogen ‘remain unchanged’

Dhahran, Saudi Arabia -- The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were...
Business

ADNOC, Baker Hughes partner to boost green hydrogen development

Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Iran seeks trade boost with Syria during Raisi’s visit to Damascus

Iran's president hailed his visit to Damascus as a "turning point", after Tehran's support helped Syria retake most of the...
  • Raisi said Iran and Syria had signed 15 "cooperation documents" which would allow "both countries to open a new chapter in economic relations".
  • Raisi and Assad signed a deal on "long-term strategic cooperation", covering fields including oil, aviation, railways and agriculture.
Business

DEWA customers can make payments via Samsung Pay

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has added Samsung Pay to its many options for customers to...

Global energy firms must pay up to prevent spill: Yemen company

To prevent a damaging oil spill in the Red Sea, the UN Development Programme in March took the unprecedented step...
  • Hayel Saeed Anam Group, which in August contributed $1.2 million to UN clean-up campaign, made the appeal hours before a virtual donor conference hosted by Britain and Netherlands
  • The Safer's 1.1 million barrels contain four times as much oil as that spilled in the 1989 Exxon Valdez disaster off Alaska, one of the world's worst ecological catastrophes