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.

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....

Economy

GAS, SPPC ink two contracts

The duration of each contract is of 22 months.

Business
Science

UN chief calls for protection of biodiversity on International Mother Earth Day

NEW YORK, US -  UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
  • The UN chief highlighted the crucial relationship between humanity and the natural world.
  • He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.
Science

EU uncertain over biodiversity protection despite okaying climate change laws

STOCKHOLM, SWEDEN - EU lawmakers this week adopted new laws boosting Europe's climate change fight, but a parallel drive to protect...
  • Negotiations between the European Commission, EU member states and the European Parliament on the issue have run into difficulty over the details.
  • Scandinavian countries are worried about forestry sector, while others believe the scope of the text proposed by the commission goes too far.
Business

MBM Holding, Portland Holdings ink MoU

Firms will work together on nuclear, renewable energy.
  • The two firms seek to address global challenges by adopting innovative solutions in health sciences and nuclear and clean energy.
  • The MoU comes as part of the UAE’s Year of Sustainability in preparation for the country's hosting of COP 28 to promote environmental sustainability.
Science

Green groups sue Europe over false energy label

BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas...
  • The lawsuit over gas was launched by WWF, ClientEarth, Transport&Environment and the German NGO BUND.
  • Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.
Business

DEWA wins Hydrogen Project of the Year Award for green transition

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for...
  • Hydrogen Project Award was part of the Hydrogen Future Awards 2023, organized during the Connecting Green Hydrogen MENA" Conference in Dubai.
  • This award recognizes leaders from international energy corporations who made key contributions to the growth of the clean energy industry.
Business

Europe’s largest nuclear reactor begins operation in Finland

The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...
  • Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
  • Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
Economy

Iraqi government plans to reduce economy’s dependence on oil

BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...
  • The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
  • The Iraqi PM highlighted the plans for enhancing development and advancing the economy.
Economy

G7 climate ministers pledge to end plastic pollution by 2040

A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...
  • The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
  • According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled
Science

UAE launches its second nanosatellite DEWA SAT-2

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) successfully launched its second nanosatellite, DEWA SAT-2, aboard SpaceX’s Falcon 9...
  • The launch of DEWA SAT-2 underlines the firm's commitment in using space technologies to improve the operations and maintenance of electricity and water networks.
  • The nanosatellite was designed and developed by Emiratis at DEWA’s Research and Development Center, in collaboration with NanoAvionics in Lithuania.
Geostrategy

Nuclear power reactors to shut down in Germany

BERLIN, GERMANY - Germany will switch off its last three nuclear reactors on Saturday, exiting atomic power even as it seeks...
  • The exit decision was popular in a country with a powerful anti-nuclear movement, stoked by lingering fears of Cold War conflict and atomic disasters.
  • The challenge caused by Russia's invasion of Ukraine put an end to cheap gas imports and has upped calls in Germany to delay withdrawal from nuclear power.

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....
Economy

Company News

Latest News

Innovations spur Qatar’s petrochemical sector growth

"A fair, safe, and sustainable transition to low-carbon energy is crucial for protecting the planet and fostering economic growth. Achieving...
Economy

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....
Business

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...
COP28 UAE
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

COP28 UAE

50 oil and gas companies pledge to cut operational emission in COP28 meet

DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050...
  • The charter is part of a set of initiatives designed to accelerate the decarbonization of the global energy industry.
  • They are voluntary commitments unlike the decisions of COP28, which are taken by consensus between nearly 200 countries.
Geostrategy

UAE President attends Group of 77 and China meeting at COP28

DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended...
  • The UAE President expressed the country's commitment to enhancing global cooperation to achieve the ambitious goals set for COP28.
  • These include accelerating the shift to a sustainable, low-carbon and economically robust model to deal with climate change.
COP28 UAE

Over 20 nations call for tripling of nuclear energy

The other countries that signed up to the declaration include Britain, Bulgaria, Canada, the Czech Republic, Finland,  France, Hungary, South Korea,  Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, ...
  • A declaration endorsed by nations ranging from the US to Ghana to Japan and several EU countries said nuclear energy plays a "key role" in reaching the goal of carbon neutrality
  • The use of nuclear energy as a cleaner alternative to fossil fuels is controversial as environmental groups are concerned about safety and the disposal of nuclear waste