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.

GAS, SPPC ink two contracts

The duration of each contract is of 22 months.

Business

Qatar to ramp up gas output with new mega field expansion

At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...

Economy
Business

UAE has incredible position in the world: Salesforce CEO

All industries and businesses should focus on net zero emissions, nature positivity, net zero business and eventually a net zero...
  • All industries and businesses should focus on net zero emissions, nature positivity, net zero business and eventually a net zero world, Salesforce chief Marc Benioff tells TRENDS
  • Benioff advocates for global commitment to green initiatives, net zero emissions, and has expedited One Trillion Tree initiative to tackle climate change
Economy

EU and Algeria look to consolidate energy, security ties

The 27-country bloc would like to develop the partnership with Algeria "looking at the future, by prioritizing European investments in...
  • Borrell said the EU and Algeria had agreed to "relaunch high-level security dialogue", with the first meetings planned before the end of the year
  • He said the EU and Algeria could "do better" on trade relations, calling for a solution "to obstacles (Algeria) introduced since June 2022 to commerce with Spain"
Business

Aramco reports bumper profits

It posted $161bn profits last year on high oil prices.
  • The world's second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was $161.07 billion, up from $110 billion in 2021
  • Energy prices are expected to stay elevated in 2023, in part because of production cuts approved last October by the OPEC+ cartel that Riyadh co-leads with Moscow
Geostrategy

COP28 President Designate meets with key US government officials

WASHINGTON DC, US -  UAE Minister of Industry and Advanced Technology and COP28 President Designate Dr. Sultan bin Ahmed Al...
  • The UAE minister discussed multilateral development bank reform as weel as an update on recent US climate policy action.
  • They discussed the need to invest in global clean energy supply chains, and the role of the US-UAE Partnership for Accelerating Clean Energy.

UN buys ship to remove oil from decaying tanker off Yemen coast

The 47-year-old ship has not been serviced since Yemen's devastating civil war broke out in 2015 and was left abandoned...
  • UNDP signed a contract to purchase a crude carrier from major tanker company Euronav that will head to Yemen to remove the oil from the beleaguered FSO Safer
  • The United States, which has contributed $10 million, welcomed the UN announcement and called on other nations as well as private donors to fill the funding gap
Business

Siemens bags long-term service contracts for Iraqi power plants

Abu Dhabi, UAE -- Siemens Energy has been awarded long-term service contracts for several Iraqi power plants to improve energy...
  • These contracts represent the first portion of prioritized projects under the Iraq Energy Agenda – Wave II agreement, which was signed in Berlin in January 2023.
  • As part of the prioritized packages, Siemens Energy signed three long term service contracts, for five years each, for the Al Sadr, Kirkuk, and Al Rasheed power stations.
Economy

US wants hike in global crude output, including from OPEC: official

The United States wants to see a hike in oil production, including from OPEC countries, said a senior State Department...
  • OPEC+ decided in early October to cut production by two million barrels per day and has not changed its output level since
  • The US president has regularly called in the last year for an increase in the OPEC+ output, but the cartel has not raised its quotas
Science

UN moves towards real-time tracking of greenhouse gases

The UN announced that it had taken a significant step towards trying to fill a key gap in the fight...
  • The three major greenhouses gases are carbon dioxide, methane and nitrous oxide.
  • Of those, CO2 accounts for around 66 percent of the warming effect on the climate.
Geostrategy

Iran to reconnect nuclear surveillance cameras: IAEA

UN nuclear watchdog chief Rafael Grossi earlier said he had held "constructive" talks with Iranian officials in Tehran after the...
  • IAEA chief earlier said he had held "constructive" talks with Iranian officials in Tehran after the discovery of uranium particles enriched to near weapons-grade level
  • Grossi arrived in Iran on Friday talks deadlocked on reviving a landmark 2015 accord on Iran's nuclear activity, known formally as the Joint Comprehensive Plan of Action
Geostrategy

UAE, Italy enhance bilateral relations to Strategic Partnership level

ABU DHABI, UAE -  The United Arab Emirates and Italy on Saturday announced the enhancement of their  bilateral relations to...
  • A pact for cooperation on energy projects and sustainability initiatives between Abu Dhabi National Oil Company and the Italian energy group Eni was signed.
  • The MoU aims to strengthen cooperation in the field of emissions reduction, new energy technologies and low-carbon solutions.

GAS, SPPC ink two contracts

The duration of each contract is of 22 months.
Business

Company News

Latest News

COP28 host UAE braces for rising heat risk, targets carbon neutrality

As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...
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...
Geostrategy

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)...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Rising temperatures worry MENA region

The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
  • With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
  • In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.
Business

Masdar City completes first net-zero energy commercial building in region

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed...
  • NZ1 is designed to consume 53 percent less energy than an equivalent conventional building.
  • Solar panels will generate 101 percent of the building’s annual energy needs, making it net-zero energy.
Economy

Oil slides further after OPEC delay as Asian stocks struggle

Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would...
  • Riyadh and Russia unveiled massive cuts earlier this year in a bid to boost prices
  • Many experts believe global supplies were healthier than expected