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.

Geopolitical tensions boost oil, weigh on equities

Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...

Market Report

Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...

Economy
Business

Aramco, 5 local firms to jointly work on project in Pakistan

ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
  • The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.
  • The government of Pakistan has already approved a refinery policy for new projects in the country.
Business

ExxonMobil Q2 profits $7.9bn

Profits fell on lower refining margins, natural gas prices.
  • Natural gas prices are down sharply from the year-ago period following a mild winter.
  • The comparative weakness in refinery margins reflects sluggish economic conditions.
Business

Major energy firms post sliding profits as oil and gas prices dip

Gas prices had soared last year after Russia cut gas shipments to Europe while oil markets were also rocked by...
  • Shell on Thursday said its profit after tax came in at $3.13 billion in the second quarter (Q2), down 80 percent compared with Q2 last year.
  • French group TotalEnergies said its net profit dropped 28 percent to $4.1 billion in the second quarter from a year earlier.
Economy

Kuwait posts fiscal surplus after almost a decade, says finance ministry

Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...
  • More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.
  • Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.
Geostrategy

G20 nations fall short of common plan on fossil fuels

NEW DELHI, INDIA - Energy ministers from the group of 20 nations meeting in India on Saturday failed to agree...
  • The failure to reach agreement in Goa comes despite G7 leaders agreeing in Hiroshima in May to "accelerate the phase-out of unabated fossil fuels".
  • G20 host nation India is itself only pledging to reach net zero by 2070, 20 years later than the commitment made by many other countries.
Science

UAE emissions plan ‘insufficient’, say climate groups

PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis...
  • The UAE, which will host the COP28 United Nations talks in November and December, has released its updated climate plans.
  • The plans laying out a tougher target to reduce its greenhouse gas emissions by 19 percent by 2030 compared to 2019 levels.
Geostrategy

US, Arab League discuss Middle East, Israeli-Palestinian conflict

The US-Arab Strategic Dialogue discussed Middle East peace and the Israeli- Palestinian conflict, among other issues. The dialogue concluded successfully...
  • US-Arab League discussed reducing tensions in regional conflicts, climate change and health security.
  • The US condemned the attack on the Swedish Embassy in Baghdad and urged the Iraqi government to protect foreign missions.
Science

UAE and Egypt to boost cooperation in higher education, scientific research

Cairo, Egypt-- The UAE and Egypt are looking to ramp up cooperation in the fields of higher education and scientific...
  • The Egyptian minister noted the depth of the ties across all levels between the two countries, especially in scientific, cultural and educational fields
  • The UAE official applauded the relations between the UAE and Egypt, noting the latter's role in the education field and stressing UAE's resolve to deepen ties
Business

Governments should provide incentives for green finance, says Dubai Chambers’ webinar

DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in...
  • The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
  • The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.
Business

OQGN inks $1.2bn financing deal

Deal will provide firm access to capital in dual currencies.
  • OQGN is the exclusive operator of the natural gas transportation network in Oman.
  • This is considered one of the largest syndicates of Sharia-compliant financing in Oman.

Geopolitical tensions boost oil, weigh on equities

Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
Market Report

Company News

Latest News

Apple’s Vision Pro headset available in US on February 2

WASHINGTON, US - Apple on Monday said it will release its highly anticipated Vision Pro mixed reality headset in the United...
Business

Energy companies to test CO2 capture in Brazil undersea oil field

PARIS, FRANCE  - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...
Business

UK announces Europe’s first high-tech uranium fuel plant

HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

YEARBOOK 2023

From climate action to global aid: Inside UAE’s remarkable year

Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
  • UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
  • Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Geostrategy

5 WEF reports shaping your 2024 agenda

From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
  • Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
  • This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.
Geostrategy

Iran asserts peaceful nuclear agenda amid western concerns

Tehran, Iran - Iran's nuclear program remains peaceful, said Nasser Kanani, the spokesman for the Iranian Ministry of Foreign Affairs,...
  • Iranian foreign ministry spokesman Nasser Kanani reaffirmed the country's commitment to continuing cooperation with the IAEA
  • Kanani said that Iran views negotiation and diplomacy as the best methods for resolving any unfounded concerns about its nuclear program