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.

Dutch court upholds $50bn payment award in Yukos case

THE HAGUE, NETHERLANDS -  A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...

Geostrategy

Saboteurs hit Iran pipelines disrupting gas supply: state media

The saboteurs hit pipelines in the cities of Borujen in the southwestern province of Chaharmahal and Bakhtiari, and Safashahr in...

Geostrategy
Business

Masdar inks deal to produce 1GW of clean energy in Kyrgyzstan

ABU DHABI, UAE - Masdar has announced the signing of an agreement with the Ministry of Energy of Kyrgyz Republic...
  • The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt (MW) solar photovoltaic (PV) plant.
  • The 200 MW plant is scheduled to begin operation by 2026.
Economy

Production at Karbala refinery will start in mid-March: Iraq

The refinery production from high-octane gasoline will be a grade of 95, with a capacity ranging from 8 to 9...
  • The refinery production from high-octane gasoline will be a grade of 95, with a capacity ranging from 8 to 9 million litres per day
  • Iraqi oil minister said that the production can be increased to 12 million liters, which will cover a large proportion of up to 75 percent of domestic consumption
Science

DEWA completes 77 percent work in Hatta Water Reservoir

DUBAI, UAE  - DEWA has completed 76.8 percent work on the water reservoir project in Hatta. The project has a...
  • The project is being built at a cost of approximately US$23 million and is expected to be completed in April 2023.
  • The structural foundation works for all facilities and reservoirs are 100 percent complete,
Geostrategy

Jordan imported 3.65m barrels of Iraqi oil from September 2021 to December 2022

AMMAN, JORDAN -  Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels,...
  • The Jordanian Minister said that the Kingdom purchases Iraqi crude oil to meet part of its annual oil needs at a rate of 10,000 barrels per day.
  • As per the MoU, the Kingdom provides basin tanks for transporting crude oil from the Kirkuk depot in Iraq to the Jordanian oil refinery in Zarqa.
Business

DEWA wins award at Global Excellence Assembly Awards 2022

DUBAI, UAE  - Dubai Electricity and Water Authority (DEWA) has been awarded  with the Global Excellence Assembly Awards 2022, based...
  • DEWA is the only entity worldwide to win this category in the second round of the award this year.
  • DEWA scored 94 percent in the evaluation conducted by the International Council of Excellence according to the Baldrige model.
Economy

Germany uses more renewable energy, still falls short of CO2 goal

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel...
  • Europe's biggest economy emitted 761 million tons of greenhouse gases last year, just one ton fewer than in 2021 and overshooting the target of 756 million tons.
  • The German government had aimed to reduce carbon dioxide emissions by 40 percent by 2020 compared with 1990 levels, but has yet to achieve the feat.
Economy

Dubai launches business group to promote renewable energy usage

The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand...
  • Announced in 2017, the UAE Energy Strategy 2050 aims to reduce the carbon footprint on power generation by 70 percent.
  • The UAE has since launched notable initiatives and taken significant steps towards realizing these goals by 2050.
Economy

Abu Dhabi to host Green Hydrogen Summit in year of climate action for UAE

The summit is being held in partnership with the Hydrogen Council, Atlantic Council, International Renewable Energy Agency and Dii Desert...
  • The summit is being held in partnership with the Hydrogen Council, Atlantic Council, International Renewable Energy Agency and Dii Desert Energy
  • The summit will feature high-level discussions on the UAE hydrogen economy, the role of government and regulation, and panel sessions on sustainable finance
Business

Sustainability key for next-gen data center models

At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...
  • At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
  • Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.
Business

Ducab partners with Vestas

Ducab's supplying medium voltage and earthing cable.
  • Ducab Group is one of the UAE’s largest industrial manufacturing businesses.
  • The move reinforces the strong industrial partnership between the UAE and Egypt.

Dutch court upholds $50bn payment award in Yukos case

THE HAGUE, NETHERLANDS -  A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...
Geostrategy

Company News

Latest News

AI to contribute in enhancing low-emissions development

BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on...
Science

QatarEnergy inks second 27-year gas supply deal with China’s Sinopec

DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...
Business

Global energy meet discusses way forward to net-zero emissions

VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
Science
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Shell reports rise in profits

The company announces a buyback of shares worth $3.5bn.
  • "Shell delivered another quarter of strong operational and financial performance," chief executive Wael Sawan said
  • Over the first nine months of 2023 Shell's profit was down sharply, reflecting lower oil prices year-on-year
Economy

Electricity-starved Iraq looks to sun to power its future

To encourage renewable energy, Iraq's Central Bank in 2022 announced the allocation of $750 million in almost zero-interest loans for...
  • A recent World Bank report highlighted that more than 98% of Iraq's electricity is still generated from fossil fuels
  • Authorities in Iraq say they aim to harness green energy to meet a third of the country's needs by 2030
Business

BP rebounds with $4.9bn Q3 profit

The oil giant had posted a net loss of $2.2bn the previous year.
  • However, underlying replacement cost profit excluding exceptional items more than halved to $3.3 billion.
  • "This has been a solid quarter supported by strong underlying operational performance demonstrating our continued focus on delivery," said BP's official