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.

Baghdad, Tehran in talks to import gas from Turkmenistan

Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...

Economy

World resource extraction could surge 60 percent by 2060, UN warns

Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...

Economy
Business

ADNOC delivers first Middle East LNG cargo to Germany

Abu Dhabi, UAE-- ADNOC and RWE Aktiengesellschaft (RWE) Wednesday announced the successful delivery of the first shipment of Liquefied Natural...
  • The shipment of 137,000 cubic meters of LNG is the commissioning cargo for the new floating LNG terminal in Brunsbüttel in Germany.
  • The cargo is sufficient to produce approximately 900 million kilowatt hours of electricity, enough to supply approximately a quarter million German homes for a year.
Geostrategy

COP28 host UAE vows ‘inclusive roadmap’ for climate talks

Rights group Amnesty International has said Sultan Al Jaber is "unfit" for the COP28 presidency, being the CEO of state-owned...
  • Al Jaber told a summit event that as "president, I will lay out a roadmap for COP28 that is inclusive, results-oriented and... very far from business as usual".
  • Al Jaber, 49, is also the UAE's minister of industry and advanced technology and head of a leading renewable energy firm. He is the first CEO to lead the summit.
Business

DEWA, ENOC sign MoU

Aim is to develop hydrogen-based mobility pilot project.
  • The MoU between DEWA and ENOC was signed at the World Government Summit 2023 in Dubai.
  • The project will utilize DEWA's existing green hydrogen production facility and ENOC's knowledge of the fuel market.
Economy

New lab set to make KSA a leader in renewable energy

The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's...
  • The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy
  • The laboratory is likely to save more than US$ 266.5 million in the field of testing energy devices by eliminating tests conducted outside Saudi Arabia
Business

DEWA’s R&D Center registers its 7th patent for 3D printing adhesive device

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has announced the registration of a new patent for an adhesive...
  • The device distributes the adhesive material on the 3D printing plate, ensuring that the printed material sticks securely to the build plate.
  • DEWA's R&D Center is responsible for supporting innovation in all production and operational areas.
Economy

IEA calls special meeting as gas crisis ‘not over’

IEA Executive Director Fatih Birol said the measures taken following Russia's invasion of Ukraine helped European nations whether Russia cutting...
  • The meeting, to be held on Wednesday by video conference, is the first such special IEA ministerial meeting recent history
  • It will also include ministers from several non-IEA member nations and will look at the global repercussions of the cuts to European gas supplies

Oil rises as Russia cuts output after Western price cap

Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than...
  • Russia is part of a 23-nation alliance with the OPEC crude cartel that already agreed in October to reduce output by two million barrels per day until the end of this year
  • An EU-wide ban on Russia oil products - like diesel, gasoline and jet fuel - came into effect Sunday alongside a Group of Seven (G7) price cap on the same items
Business

Russia to slash oil output by 5% over Western price cap

Russia is part of an alliance with OPEC that meets regularly to decide on oil output levels. As a result...
  • The international benchmark, Brent North Sea crude, leapt 2.3 percent to $86.48 per barrel. New York contract WTI soared 2.5 percent to $80.01.
  • "Russia will voluntarily reduce production by 500,000 barrels per day in March. This will help restore market relations," Deputy PM Alexander Novak said.
Business

Equinor posts record profit

Output slipped by 2% to 2.04 million barrels per day of oil equivalent.
  • Net profit more than tripled to $28.7 billion, boosted mainly by skyrocketing gas prices.
  • Equinor said it plans to invest $10-11 billion in 2023 and increase its oil and gas production by three percent.
Market Report

Stocks steady, dollar higher on US rate-hike expectations

Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...
  • January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
  • Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.

Baghdad, Tehran in talks to import gas from Turkmenistan

Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy

Company News

Latest News

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...
Economy

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...
Business

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

Most Read

Geostrategy

Earth to warm up to 2.9C even with current climate pledges, says UN

PARIS, FRANCE -  Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
  • The UN Environment Program's annual Emissions Gap report is released just ahead of crucial COP28 climate talks in Dubai .
  • Taking into account countries' carbon-cutting plans, UNEP warned that the planet is on a path for disastrous heating of between 2.5C and 2.9C by 2100.
Business

ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority...
  • The second phase is part of a 950 MW solar CSP independent power project, the company said .
  • The financial impact from the full capacity (950 MW) is expected to show starting from the first quarter 2024.
Business

Norwegian firm expects first cross-border transport of CO2 in 2025

Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
  • Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
  • Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.