INSEAD Day 4 - 728x90

Energy

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

ENEC and General Atomics to collaborate on use of technology for nuclear energy

Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...

Science

Dubai approves rise in energy, water efficiency programs

DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...

Geostrategy
Economy

Oman’s economic growth to reach 2.7 percent in 2024, says IMF

MUSCAT, OMAN - Oman’s economic growth is expected to rebound to 2.7 percent in 2024 but will slip in 2023...
  • The projections reflect the oil production cuts by OPEC+, moderate growth in the non-hydrocarbon sector and a slowdown in global economic activity.
  • Oman's real GDP rose by 4.3 percent in 2022, basically on an expansion of the hydrocarbon sector.
Business

Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park

DUBAI, UAE -  Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
  • Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park.
  • The fifth phase of the project will provide clean energy will reduce 1.18 million tonnes of carbon emissions annually.
Economy

Sri Lankan economy contracts 11.5 percent in Q1 2023

COLOMBO, SRI LANKA - Crisis-hit Sri Lanka's economy shrank by 11.5 percent in the first quarter just before an IMF bailout...
  • The contraction in the first three months compared with shrinkage of 0.5 percent in the corresponding period of 2022.
  • A currency crisis from late 2021 led to severe shortages of food, fuel and medicines and triggered months of protests.
Business

UAE Ministry of Energy joins National ICV Program

DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
  • The MoU supports national strategic objectives to boost the growth of the industrial and advanced technology sectors.
  • It aligns with the National ICV program's aims to enhance economic growth by redirecting government expenditure into the national economy.
Business

GCC ramps up ESG efforts amid green investment push

Businesses are getting ready for COP28 by moving from starting ESG programs to growing them, and those who know the...
  • Businesses are getting ready for COP28 by moving from starting their ESG programs to growing them, and those who know the benefits of ESG Reporting may gain a lot, say experts
  • Companies in the region have also been cautioned against viewing ESG as synonymous with Corporate Social Responsibility or merely as a "tick the box" obligation
Business

Green activists cry foul as Shell decides to steady oil production

Campaign group Global Witness labelled Wednesday's announcement as a "climate-wrecking U-turn", urging it instead to invest far more in cleaner...
  • The group said Wednesday that it had already cut average daily liquids production to 1.5 million barrels per day by the end of 2022 on divestments.
  • That marked a 21-percent reduction from 2019, or the equivalent of cutting output by two percent per year until 2030, according to the company.
Economy

Peak in oil demand ‘in sight’ before end of decade: IEA

"The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight...
  • IEA forecast in its Oil 2023 medium-term market report that annual demand growth would slow sharply over the next five years
  • Energy prices soared last year after Russia, a major exporter of fossil fuels, invaded Ukraine and cut deliveries of natural gas to Europe
Economy

Regulating energy providers crucial for sustainability

“The new policy will contribute to the UAE’s GDP and help achieve financial returns that amount to AED21.5 billion (US$5.85bn)...
  • UAE enforces policy to regulate energy providers, boost infrastructure, and foster investments, innovation, and modern technologies in the sector, says energy minister Al Mazrouei
  • The new policy outlines contractual frameworks and public-private partnerships, targeting energy and water consumption reduction, carbon footprint, and building operational costs
Geostrategy

Saudi Arabia announces international conference on Sudan aid

Saudi Arabia announced that it would jointly lead a conference on the humanitarian response to the war in Sudan next...
  • Saudi Arabia and the United States have been mediating in the eight-week conflict.
  • The kingdom played a leading role in evacuating thousands of foreigners from Sudan early in the war.
Geostrategy

Iranian nuke expert, EU officials review Tehran’s atomic program

A landmark deal in 2015, formally known as the Joint Comprehensive Plan of Action (JCPOA), gave Iran sanctions relief in...
  • Germany's foreign ministry said the meeting took place on Monday and that discussions broached topics concerning Iran's nuclear program.
  • Iran's nuclear program has long been the subject of scrutiny from Western powers, resulting in sanctions that have hit the country's economy.

ENEC and General Atomics to collaborate on use of technology for nuclear energy

Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science

Company News

Latest News

OPEC+ cartel’s grip on oil market loosening as demand slows: IEA

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up...
Business

‘Nuclear solutions remain key to sustainable future’

“In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...
Economy

Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Digitalization has high environmental costs, says UNCTAD meet

DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
  • Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
  • The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.
Geostrategy

Antique stoves make a comeback in Gaza as the only way to cook during war

With a squeeze of pliers, a new wick, and a refill of homemade fuel, a flash of fire miraculously begins...
  • Hundreds of thousands of civilians have fled northern Gaza due to relentless bombardment and a ground invasion by Israel, leaving their belongings behind.
  • The civilians hoped to be safer in the south, but the Israeli military has progressively extended its strikes across the tiny coastal territory in its war aiming to destroy Hamas
Geostrategy

Russia, Saudi say sovereign Palestine state vital for regional peace

RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
  • The two sides discussed the developments in Palestine and expressed their deep concern about the humanitarian catastrophe in Gaza.
  • Russia and Saudi Arabia stressed on the need to stop military operations in the Palestinian territories, and the need to protect civilians.