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.

Russia becomes world’s fourth-biggest LNG producer, says PM

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...

Business

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...

Business
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.
Business

NIDC drills 195 oil wells in 2 years

Wells were drilled in onshore, offshore operations.
  • The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
  • 13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
Business

Climate change to be discussed in Dubai COP28 meet, says Egypt minister

Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to...
  • noted that international reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change risks
  • Al Mashat added that COP28 will see presentations on the most important results and joint action taken over a year within the National Platform for Green Projects

Russia becomes world’s fourth-biggest LNG producer, says PM

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business

Company News

Latest News

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

Turkish strikes leaves hundreds of Syrian villages without electricity

Qamishli, Syria - Hundreds of northeast Syrian villages and towns have lost power after Turkish strikes pounded electricity stations and infrastructure,...
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...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

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.
Business

DEWA records 12.5 million digital transactions in 2023

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
  • DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
  • These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.

Oil prices rise on Red Sea escalation, corporate earnings season

Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...
  • In Friday trade, the Dow dipped while the S&P 500 edged higher as investors digested corporate earnings and a surprise drop in wholesale inflation
  • Leading banks were mostly lower following a deluge of quarterly results, while airlines were hammered after Delta's forecast disappointed investors