INSEAD Day 4 - 728x90

Energy

BYD logs record EV sales in 2025

It sold 2.26m EVs vs Tesla's 1.22 by Sept end.

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.

Israel army says 250,000 left Gaza City for their “safety” since stepping up operations

The United Nations estimated in late August that about one million Palestinians lived in and around Gaza's largest urban centre,...

Geostrategy

Iraq signs deal with US firm to produce 24,000 MW of electricity

Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...

Economy
Business

Russia not in danger of trading oil at a loss, says Lavrov

MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
  • Lavrov expressed confidence that Moscow is not frightened of relying on countries that will buy Russian oil and gas.
  • OPEC+ regulates the market and prices in an equitable manner, taking into account the interests of consumers, the minister said.
Economy

Gulf nations transition from oil to solar powerhouses

The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
  • The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing.
  • With Qatar leading by example and Saudi Arabia set to follow, these moves signify a key shift towards renewable energy sources.
Business

Masdar to buy stake in Terra-Gen

Masdar to buy 50 percent stake in Terra-Gen from ECP.
  • Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
  • The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030
Geostrategy

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...
  • The Council reviewed updates of the demand side management strategy for 2030 and 2050.
  • This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.
Business

Sovcomflot 2023 net profit $900m   

In 2023, the firm demonstrated strong financial results.
  • The company's revenue increased by 22.6 percent in 2023
  • Sovcomflot’s operating profit in 2023 doubled to $1.16 billion.
Geostrategy

Iran signs big contracts to increase oil production

Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
  • Iranian Oil Minister Javad Owji had said that oil production would reach 3.6 million barrels per day by the end of the Persian year on March 19.
  • Iran's oil sector suffered a blow in 2018 when Western sanctions were reimposed, forcing foreign companies to leave the country,
Economy

Middle East leads way in global methane mitigation

The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
  • The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say an IEA report.
  • With Saudi Arabia and UAE leading by example through low emissions intensities , the region is setting new benchmarks in environmental stewardship.
Economy

Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
  • This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
  • Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Geostrategy

Brighter US economic outlook fuels global oil demand growth forecast

Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
  • The IEA said world oil demand growth is now forecast to increase by 1.3 million barrels per day (bpd) this year, 110,000 bpd higher than in its previous monthly market report.
  • Global demand is also driven by the "comparatively buoyant economy" of the US where oil consumption is gaining momentum on rising petrochemical operations, it said.
Economy

Baghdad, Tehran in talks to import gas from Turkmenistan

Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
  • The pact provides for supplying Iraq with 51 million M3 per day, Iraqi minister of electricity Luay Al-Khatteeb said
  • He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran

Israel army says 250,000 left Gaza City for their “safety” since stepping up operations

The United Nations estimated in late August that about one million Palestinians lived in and around Gaza's largest urban centre,...
Geostrategy

Company News

EVIQ to set up infra for EVs in KSA

ADNOC Drilling, Alpha Dhabi set up JV

DEWA Q3 2023 revenue $2.5bn

Ducab, Somagec ink MoU

Shell reports rise in profits

Latest News

Advanced nuclear technologies and their role in the energy transition

New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...

Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives

Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy

Iraq now gas self-sufficient, paves the way for surplus exports

Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Electric cars credited with lower CO2 emissions in US neighborhoods

LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
  • Scientists at the University of California, Berkeley, say a network of sensors has logged a small drop in the volume of carbon dioxide.
  • Carbon dioxide is one of the main contributors to global warming, the human-caused phenomenon of rising temperatures.
Business

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...
  • Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.
  • In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.
Business

Sheikh Hamdan praises ADNOC’s efforts in using AI in production process  

ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
  • Sheikh Hamdan toured key facilities and operations, learning about the company's efforts to leverage AI.
  • Sheikh Hamdan emphasized on the importance of Emirati women's participation across various sectors.