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.

Qatar minister urges Gaza ceasefire to end Red Sea insecurity

The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...

Geostrategy

IMF, World Bank say Gaza and Red Sea attacks risk to world economy

World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...

Economy
Market Report

Gulf markets fluctuate due to geopolitics, oil prices

Saudi market's primary index fell for the eighth week in a row. Abu Dhabi index fell for four of five...
  • First Abu Dhabi Bank, Global Holding and Aldar Properties contributed to the fall of the Abu Dhabi index.
  • The drop in DEWA shares price, Emirates NBD Bank among others also contributed to the fall in the Dubai index.
Geostrategy

Iraq tells visiting Italy PM it seeks closer economic ties

Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni for closer economic ties with his oil-rich country suffering from...
  • Italian oil firm Eni has been involved in exploration and production in Iraq for over a decade.
  • The United Nations says Iraq is one of five countries most exposed to some impacts of climate change.
Economy

DEWA launches construction work of Hatta Sustainable Waterfalls project

DUBAI, UAE -   MD & CEO of Dubai Electricity and Water Authority (DEWA)    Saeed Mohammed Al Tayer has launched the...
  • The Hatta Sustainable Waterfalls project is unique for its innovative architectural idea.
  • The Hatta Sustainable Waterfalls project will use the slope of the upper dam of Hatta plant to create a natural waterfall.
Economy

Gas giant Algeria slams EU gas price cap

Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers...
  • The EU price cap, agreed Monday after months of negotiations, will apply from February 15 and run for a year
  • EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter
Geostrategy

Iran, EU diplomatic heads meet at Jordan summit

SWEIMEH, JORDAN - Iran's Foreign Minister Hossein Amir-Abdollahian met Tuesday with EU foreign policy chief Josep Borrell on the sidelines of...
  • The meeting comes at a time when negotiations in Vienna aimed at reviving the 2015 Iran nuclear deal are stalled.
  • EU foreign policy chief Josep Borrell tweeted that the meeting was "necessary... amidst deteriorating Iran-EU relations".
Geostrategy

Iran says Jordan summit is a good opportunity for nuclear talks

TEHRAN, IRAN - Iran's foreign minister said Monday that a summit to take place this week in Jordan will be a...
  • On-off talks to revive the deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), started in April last year.
  • A UN nuclear watchdog team led by IAEA deputy director-general was on a one-day visit to Iran.
Science

UN nature deal calls to protect 30% of planet by 2030

MONTREAL, CANADA - A UN nature deal proposed Sunday calls to protect at least 30 percent of the planet by 2030...
  • It called on wealthy countries to increase financial aid to the developing world to $20 billion annually by 2025.
  • Developing countries, spearheaded by Brazil, were seeking the creation of a new fund to signal the global north's commitment to the cause.
Science

Dubai Supreme Council of Energy reviews efforts to achieve net-zero carbon emissions by 2050

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 73rd...
  • The meeting discussed a proposal by ENOC to supply petroleum products to Al Maktoum International Airport through the Falcon Station in Jebel Ali.
  • It also discussed the national system for trading carbon credits in cooperation with the Ministry of Climate Change and the Environment.
Arts & Culture

DEWA wins top award by UK based institute

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) won the Best Creative Electricity and Water Solutions Brand by Global...
  • Saeed Mohammed Al Tayer, MD and CEO of DEWA, expressed his happiness with the award
  • DEWA received many accolades in excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.
Business

Germany cuts the ribbon on first LNG terminal

Germany plans to open four more government-funded LNG terminals over the next few months as well as a private terminal...
  • LNG terminals allow for the import by sea of natural gas which has been chilled and turned into a liquid to make it easier to transport.
  • Until now, Germany had no LNG terminals and relied on cheap gas delivered through pipelines from Russia for 55 percent of its supply.

Qatar minister urges Gaza ceasefire to end Red Sea insecurity

The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...
Geostrategy

Company News

Latest News

BP rebounds with $4.9bn Q3 profit

The oil giant had posted a net loss of $2.2bn the previous year.
Business

Foreign investments rise in NE China due to several projects

SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business

COP28 wide open to private sector, says climate talks chief

ABU DHABI, UAE -  Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale,...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

1.5C goal on the line as countries gear up for key climate talks

Paris, France -- Facing record-shattering temperatures and a geopolitical tinderbox, countries are scrambling to lay the groundwork for crucial UN climate...
  • Ministers meet next week in the United Arab Emirates to grapple with flashpoint issues, including the future of fossil fuels.
  • Rich polluters are under pressure to finally meet their promise to provide $100 billion in funding by 2020 for poorer nations to prepare for climate extremes.
Business

Oil prices surge 3 percent amid Middle East tensions

New York, United States - Oil prices experienced a 3% surge on Friday, reaching a one-week high, driven by escalating...
  • Brent crude futures increased by $2.55, or 2.9%, settling at $90.48 a barrel, while US West Texas Intermediate (WTI) crude saw a rise of $2.33, or 2.8%, closing at $85.54
  • The widening gap between Brent and WTI prices, reaching its highest level since March, is making it more enticing for energy firms to export crude from the U.S.
Business

Eni Q3 profit drops

This drop is smaller than the 31 percent fall in Q2.
  • Adjusted net profit -- a figure closely watched by the markets because it excludes exceptional items -- also fell, by 51 percent to US$1.9 billion (1.81 billion euros).
  • The group's turnover fell 40 percent in the three months to US$23.5 billion (22.31 billion euros), well below analysts' expectations of US$34.4 billion (32.58 billion euros).