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.

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

India plugs into the Gulf region with power cables

India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...

Economy
Business

ADNOC L&S buys VLCC

Firm has committed $2 billion for more such carriers.
  • The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
  • The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.
Geostrategy

Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation

RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...
  • Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.
  • The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.
Business

DSCE gets ISO 50001, net-zero certifications for sustainable energy management

DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
  • This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization.
  • The audit process conducted by CanaGulf International Standardization was based on several guiding principles.
Economy

Prices for utilities, fuels rise 9 percent in June in Saudi Arabia

RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent...
  • Restaurant and hotel prices went up by 4.3 percent and education up by 3 percent.
  • Clothing, shoe prices fell 2.9 percent, communication costs were down by 0.7 percent.
Geostrategy

UAE, India pledge for success of Dubai’s COP28 event

The UAE and India vowed to make this year's COP28 conference in Dubai a success, as Indian Prime Minister Narendra...
  • "The UAE and India are united in their determination to ensure the successful outcome of COP28 as an inclusive and action-oriented conference," said a statement.
  • The leaders of both the countries said they were "committed to enhance cooperation on climate ambition, decarbonization and clean energy".
Business

ADNOC in talks with OMV

Talk merger of shareholdings in Borouge, Borealis.
  • Borouge is listed on the ADX with 54 percent owned by ADNOC.
  • Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.
Economy

Will extended oil production cuts stunt Saudi growth?

The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
  • The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts
  • Amidst varying projections, the overall concern is clear: the extended cuts could strain the economy and may even lead to contraction if the trend continues into 2024
Business

ExxonMobil to buy Denbury

ExxonMobil will acquire Denbury for $4.9 billion.
  • The all-stock acquisition provides ExxonMobil with Denbury's carbon dioxide pipeline network in Texas, Louisiana and Mississippi.
  • Oil companies have championed carbon sequestration as a major response to climate change.
Arts & Culture

Sweltering heat leaves Gulf residents at risk during noon

DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a...
  • Apart from last week being identified as the hottest ever recorded worldwide, a wave of humidity has been suffocating the Gulf
  • Two weeks ago, more than 1.8 million Muslims battled through a days-long hajj pilgrimage in Saudi Arabia in temperatures up to 48C (118F)
Business

DEWA given Net-Zero statement of verification for work on climate change

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
  • This followed a comprehensive assessment conducted by W3 Solutionz - US based on the International Workshop Agreement Guidelines IWA 42:2022.
  • The Net Zero Guidelines were commissioned by Our 2050 World, a global collaboration to accelerate action towards net zero through standards.

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

Company News

Latest News

UAE announces reduction in fuel prices for January

ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
Business

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...
YEARBOOK 2023

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...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Russia redirected most oil exports to China and India, says Novak

After President Vladimir Putin sent troops to Ukraine in February 2022, Western countries hit Russia with a slew of sanctions including a...
  • India has been able to snap up discounted crude from Russia before refining it and selling it to European customers, reports say
  • Russian Deputy PM Alexander Novak said he expected Russian oil and gas revenues will amount to almost nine trillion rubles ($98 billion) this year
Economy

ADDED, Siemens Energy to support sustainable industrial development in Emirate

ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
  • The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
  • Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Business

Oman to expand production of green hydrogen to boost non-oil economy

Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
  • The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
  • Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.