INSEAD Day 4 - 728x90

Energy

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.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Abu Dhabi’s private sector grows by over  35 percent in 2023

ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...

Economy

GCC leads the charge in global sustainability efforts

The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...

Economy

Oil, gas sector emission pledges stalling: report

According to Carbon Tracker, the weakest emissions reductions commitments came from US major ExxonMobil and five majority state-owned oil firms:...
  • A report by Carbon Tracker assessed and ranked emissions reductions commitments by 25 of the largest oil and gas firms, as measured by 2022 production volumes
  • Some 16 firms only covered operational emissions and failed to take into account indirect emissions linked to the full life cycle and use of their products
Business

Saudi Arabia and Russia extend oil cuts, Brent crude price up

The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
  • Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
  • Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
Business

UAE announces US$4.5bn in Africa clean energy investments

Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar,...
  • The minister said the investment in Africa is aimed to develop 15 GW of clean power by 2030
  • As of 2022, the continent's renewable generation capacity was 56 gigawatts, according to the IREA
Economy

G20 per capita coal emissions growing: research

According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions...
  • Countries such as Britain, Germany and the United States were able to significantly decrease per capita emissions
  • But at the same time, other countries, including G20 host India, Indonesia and China, all saw their emissions rise
Business

Improving power situation in Libya brightens life

Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
  • Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
  • A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.
Economy

Oil prices climb to highest level in seven months on supply fears

Dubai, UAE--Oil prices rose to their highest in over half a year and snapped a two-week losing streak, buoyed by...
  • Russia's Deputy Prime Minister Alexander Novak said on Thursday that his country has agreed with OPEC+ to cut oil exports next month
  • The International Energy Agency and OPEC are relying on China, the world's largest oil importer, to shore up oil demand over the rest of 2023
Economy

UAE economy expected to grow by 3.5 percent in 2023, says UBS

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
  • The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
  • The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.
Geostrategy

Renewables helped save $520bn fuel costs globally in 2022: Report

In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
  • In addition to these direct cost savings, there would be substantial economic benefits from reducing CO2 emissions and local air pollutants.
  • IRENA’s Director-General Francesco La Camera said the world must add 1,000 GW of renewable power annually on average every year until 2030 to keep 1.5°C within reach.
Geostrategy

French President says change in existing world order would weaken West, Europe

PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
  • Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
  • Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Business

Iran inaugurates final phase of country’s largest gas field

The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field...
  • Oil Minister Javad Owji said around 50 million cubic meters of gas will be extracted daily from phase 11 of the project "after the completion of the wells".
  • Iran has the world's second largest gas reserves, after Russia, and the world's fourth largest oil reserves.

Abu Dhabi’s private sector grows by over  35 percent in 2023

ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
Economy

Company News

Latest News

Clean energy largest driver of Chinese GDP growth in 2023: report

China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...

France flooded with applications for electric car leasing scheme

Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...
Business

Shell halts Red Sea shipments over attack fears, say report

WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

EU worried Red Sea attacks could spark inflation

European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
  • Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
  • Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.
Economy

Saudi Arabia to highlight role in dealing with global challenges at WEF meet

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
  • Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
  • The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.
Business

Biggest fuel refinery plant of Africa begins production

Lagos, Nigeria - Africa's biggest diesel and aviation fuel refinery built by the continent's richest man has started production, the company...
  • The 650,000 barrel-per-day Dangote refinery could be a game changer when fully operational by helping end Nigeria's reliance on fuel imports.
  • The facility sits on 2,635 hectares (6,500 acres) of land at the Lekki Free Zone on the edge of Lagos city and cost an estimated $19 billion.