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.

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

China discovers world’s largest metamorphic rock oilfield in Bohai Sea

BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...

Business
Science

‘Rich nations must achieve net zero carbon by 2040’

UN Secretary General Antonio Guterres called on wealthy countries to move up their goals of achieving carbon neutrality as close...
  • Most rich countries have set their goal at 2050 but some are more ambitious, like Finland (2035), or Germany and Sweden (2045).
  • Leaders in emerging economies must commit to reaching net zero as close as possible to 2050, he said without naming any specific nation.
Economy

Kuwait Oil Company declares ‘state of emergency’ after oil spill on land

Teams have been dispatched to determine the source of the leak and contain the incident, Al-Amer said, declining to give...
  • The emergency followed an "oil leak in the west of the country", the state-owned company said in a statement
  • Kuwait is a major oil-producing country where nearly 90 percent of government revenues come from oil
Opinion

MENA region shines more on the global energy map

The Abraham peace Accords between Israel and some Middle Eastern countries has paved the way for new cooperation and energy...
  • Diplomatic efforts, capacity building, and support for sustainability make Middle East and GCC region significant in global energy arena, says an expert
  • Tension between Russia and western Europe prompts search for new energy sources, benefiting oil-producing companies in the region, adds Ritu Singh of Stone X
Science

EU unveils plans to scale up net-zero technology

BRUSSELS, BELGIUM- The European Commission proposed the Net-Zero Industry Act to scale up manufacturing of clean technologies in the EU...
  • The Act aims to enhance the resilience and competitiveness of net-zero technologies manufacturing in the EU, while making energy system more sustainable.
  • EU seeks to increase overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40 percent of the Union's deployment needs by 2030.
Business

Abu Dhabi-Japan Economic Council reviews growth in bilateral trade and investments

TOKYO, JAPAN - The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) here has reaffirmed its commitment to further...
  • In 2022, the bilateral trade between the UAE and Japan rose 57.5 percent to exceed US$54 billion.
  • UAE exports to Japan grew 69.7 percent to US$45.9 billion compared to US$27 billion in 2021.
Economy

OECD raises global growth forecast as inflation eases, recovery ‘fragile’

The OECD raised its global economic growth forecast as inflation eases and China emerges from Covid restrictions, but warned of...
  • Organization for Economic Co-operation and Development says rate increases are still needed to fight inflation.
  • OECD cited uncertainty over the course of the war in Ukraine, the risk of renewed pressure on energy markets.
Business

October 2022 OPEC+ oil pact will stay the course, says Saudi energy minister

Riyadh, Saudi Arabia -- As uncertainty in the global economy is limiting clarity about the outlook for oil markets, the...
  • Prince Salman said that sticking to the October agreement is the "sensible and only course of action” for OPEC and its allies.
  • He said Saudi Arabia has proactively embarked on expanding our capacity to 13.3 million barrels a day by 2027.
Economy

Indian, UAE cooperating in green hydrogen development: Indian minister

New Delhi, India -- India’s Minister for New, Renewable Energy and Power, R K Singh said on Tuesday that India...
  • The UAE's expanded cooperation with India in clean energy aims to support New Delhi's ambition to achieve 450 gigawatts of renewable energy
  • R K Singh said that the bilateral cooperation in renewable energy, similar to the UAE, is being promoted with Australia, Finland and Germany
Economy

Fusion energy will be game-changing viable energy source

Private sector partners can leverage the scientific work done in public laboratories to develop the technology needed for fusion power...
  • Private sector partners can leverage the scientific work done in public laboratories to develop the technology needed for fusion power plant applications, says top US physicist
  • The recent discovery in inertial confinement fusion marks a significant milestone in the development of fusion energy as a viable energy source, highlights Kimberly Budil
Economy

OPEC projects world oil demand to average 101.9 mb/d in 2023

Vienna, Austria  – The Organisation of the Petroleum Exporting Countries (OPEC) projected oil demand to grow by a healthy 2.3...
  • The world economic growth forecast for 2023 is expected at 2.6% y-o-y, following growth of 3.2% in 2022
  • On crude oil futures prices, OPEC said, the prospect of oil demand recovery in China limited futures price losses

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

Company News

Latest News

UAE to pump CO2 into rock as carbon capture debate rages

Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...
Business

Oil prices inch up on mixed day for US stocks

World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with...
Economy

Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Every industry should be held accountable on climate, says COP28 president

Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at...
  • "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs to be held accountable," COP28 president Sultan Al Jaber said
  • "That includes all industries and in particular heavy emitting industries like aviation, transportation, aluminum, cement, steel, as well as the oil and gas industry," he added
Economy

ADB plans to invest US$100bn to maximize climate impact

MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
  • By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
  • If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Business

ADNOC unveils inaugural green hydrogen refueling station

Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station,...
  • The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyser powered by clean grid electricity.
  • The hydrogen supplied at the pilot station will be certified as “green” from solar sources by the International REC Standard.