INSEAD Day 4 - 728x90

Energy

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

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
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
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

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

Brazil to become OPEC+ member in 2024, says group

Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday. Brazil is among...
Business

Europe’s largest nuclear reactor malfunctions again

Helsinki, Finland - Finland's Olkiluoto 3, the largest nuclear reactor in Europe, stopped production on Wednesday after a test caused the plant unit...
Science

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
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

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...
  • CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
  • Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Geostrategy

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...
  • The UAE's scorching summers, when many flee for cooler climes and the streets empty, look set to worsen due to climate change, various studies show
  • The region's extreme heat and high humidity are a dangerous mix as in such conditions the human body struggles to cool itself by evaporating sweat on the skin
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