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.

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...

Geostrategy

Saudi Arabia transfers 8% Aramco stake to PIF-owned firms

Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...

Business
Business

ADNOC and TotalEnergies sign agreement to export LNG globally

Abu Dhabi, UAE - ADNOC Gas announced Monday a three-year supply agreement with the TotalEnergies Gas and Power Limited for...
  • Under the deal, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world.
  • "This agreement reflects our commitment to meeting the needs of our customers by offering supply security," said CEO ADNOC Ahmed Alebri.
Business

AD Ports Group purchases bulk carriers, crude oil tankers

ABU DHABI, UAE -  AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
  • These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
  • The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Business

Arabian Travel Market unveils Monday in Dubai

DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
  • The event, on May 1-4, will see global travel, tourism, and hospitality experts discuss how their industry is ‘Working Towards Net Zero’.
  • Exhibitor participation in the event has risen by 27 percent compared to last year’s event, with growth registered across all show sectors.
Business

DEWA keen to enhance happiness in work environment, says CEO

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision...
  • "We harness all capabilities, technologies and digital solutions to strengthen the skills of our employees," DEWA CEO said.
  • "We consider employees the main pillar for strengthening DEWA’s position as one of the most prominent utilities in the world," he said.

AI key to global opportunities, practical solutions

"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
  • Key research projects at MBZUAI focus on sustainable environment, infrastructure, healthcare, education, and large language models, says an official
  • AI has the potential to contribute to the UAE's net-zero strategic initiative by reducing greenhouse gas emissions and advancing climate progress
Economy

IEA’s call to halt oil investments will hurt market

His remarks came after the IEA Executive Director, Fatih Birol, criticized OPEC+ for their unexpected decision to reduce oil output...
  • OPEC Secretary General Haitham Al Ghais has cautioned IEA against discouraging oil investments crucial for global economic growth
  • Russia's Deputy PM Alexander Novak says the OPEC+ group, comprising leading oil producers, sees no need for further output cuts
Business

EU agrees to boost use of green aviation fuel to cut emissions

Aviation emissions in Europe were on an upward curve of around five percent per year between 2013 and 2019, dropping...
  • European Union is eyeing a net carbon-neutral future, and the decision to use sustainable fuel is a step towards it.
  • "This agreement provides certainty for the SAF (sustainable aviation fuel) industry and airlines alike," said an official
Economy

Up to $1.7 trillion investment needed for green aviation goals

To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
  • Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
  • Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
Business

China leads in transition from petrol to EVs

According to the China Association of Automobile Manufacturers, electric vehicles made up 25 percent of car sales in the country...
  • Government support for EVs and growing interest from a vast consumer base has assured Chinese companies' dominance.
  • Despite a downturn across the global auto sector, an official said EVs' market share in China could increase to over 40 percent in 2023.
Business

UAE energy ministry awards DEWA for research, innovation

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
  • DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
  • The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.

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...
Geostrategy

Company News

Latest News

ENEC, Kazatomprom ink pact

The move will ensure a secure supply of nuclear fuel.
Business

ADNOC-Tabreed G2COOl opens

G2COOL is the first geothermal energy cooling plant in the Gulf region.
Business

UAE’s ENEC signs MoU with TerraPower for nuclear-technology development

Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company,...
COP28 UAE
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

QatarEnergy announces integration of all marketing and related activities

DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
  • QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader.
  • The move places the company in a unique position to deliver unparalleled service and value to its customers and stakeholders.
COP28 UAE

MENA region can create 10m jobs by 2050 via climate action, says ILO

DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
  • The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
  • The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.
COP28 UAE

COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action

Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
  • Around 50 companies, representing more than 40 percent of global oil production, so far have signed on to the OGDC
  • COP28 President Dr. Sultan Al Jaber said several oil companies have adopted net-zero 2050 targets for the first time