INSEAD Day 4 - 728x90

Energy

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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
Business

Nestle pours $1.8 bn in S Arabia

Firm said this will help bolster its presence in kingdom.
  • Nestle's announcement is likely to be a major boost to Saudi Arabia as the kingdom pushes to attract greater foreign investment.
  • Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee.
Geostrategy

Jordan Minister calls for MENA-Europe electric connection project

AMMAN, JORDAN - Jordan's Minister of Energy Saleh Kharabsheh stressed on the importance of conducting an electrical interconnection project to...
  • Jordan's Minister said electric connection with Europe achieves integration by supplying the continent with relatively low-cost energy.
  • He said that Jordan seeks to turn its electric power grid into a smart one.
Geostrategy

Gas price cap divides EU energy ministers’ meeting

BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were...
  • They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would set a cap on gas prices at 275 euros per megawatt hour.
  • Many members complained that the plan comes with such conditions attached that it was designed never to be used.
Geostrategy

Iran says starts enriching uranium to 60% at Fordo plant

Under a landmark deal struck in 2015, Iran agreed to mothball the Fordo plant and limit its enrichment of uranium...
  • The move was part of Iran's response to the UN nuclear watchdog's adoption last week of a censure motion drafted by Western governments
  • An atomic bomb requires uranium enriched to 90 percent, so 60 percent is a significant step towards weapons-grade enrichment
Business

QatarEnergy inks 27-year gas supply deal with China firm

The deal "marks the longest gas supply agreement in the history of the LNG industry", said Saad Sherida Al-Kaabi, Qatar's...
  • QatarEnergy will send 4 million tons of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation.
  • The Chinese company's chairman revealed that it had also requested a full share of the North Field South project that is dominated by Western energy giants.
Geostrategy

Ukraine, Russia trade blame over nuclear plant shelling

Kyiv and Moscow traded accusations of shelling on the territory of the Zaporizhzhia nuclear power plant that Russia controls in...
  • The Russian army said missiles exploded around a power line that feeds the plant, the fourth and fifth power units and "special building number 2".
  • Renat Karchaa, an advisor to the Russian nuclear agency Rosatom, told state-run agency TASS that the "special building" contained nuclear fuel.
Science

Swiss regret COP27 going soft on top polluters

GENEVA, SWITZERLAND - Switzerland regretted Sunday that the COP27 climate summit outcome does not impose obligations on the highest greenhouse...
  • There was disappointment in some quarters over COP27's stand on cutting emissions.
  • There were concerns that no resolutions were passed on phasing out coal and reducing subsidies for oil and gas
Geostrategy

‘Most APEC members condemn war in Ukraine’

Asia-Pacific leaders added their voices to international pressure on Russia over its invasion of Ukraine, issuing a summit statement saying...
  • The summit communique was agreed by all APEC members, including Russia and China.
  • Apart from substituting the name of the organization, the statement was word-for-word the same as a G20 declaration.
Market Report

World stocks rally but oil prices tumble

Global main stock markets rallied as investors fished for bargain shares and shrugged off losses elsewhere, but oil prices fell...
  • Asian equities experienced mixed fortunes Friday as cautious investors tried to gauge the outlook for Federal Reserve monetary policy.
  • The week has been broadly positive for global equities following softer-than-expected US consumer and wholesale price figures.
Geostrategy

UAE Minister discusses economic ties with Caribbean countries

ABU DHABI, UAE - UAE Minister of Economy Abdullah bin Touq Al Marri visited the Havana International Fair 2022 in...
  • The visit was aimed at exploring opportunities for cooperation and establishing new economic partnerships between the UAE and Caribbean region.
  • The UAE minister met several ministers from the Caribbean nations to discuss mechanisms to enhance economic and trade cooperation.

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

Qatar eyes North Field to boost liquefied gas output

Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
Economy

Qatar signs 27-year gas deal with UK’s Shell

Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second...
Business

Emirati investments in Turkey reach $5.6 billion in 2022

ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Security risks hit gas flow amidst Israel-Hamas row

Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
  • Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in weekly losses of hundreds of millions of dollars
  • Chevron shifts gas exports as Israeli government declares market emergency, while local supply maintained with power plants ready with alternative fuels for energy stability
Business

Red Sea Global builds largest off-grid EV charging network in Saudi Arabia

RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
  • The network includes more than 150 charging stations spread across phase one of The Red Sea destination area.
  • The stations are placed to keep RSG’s initial fleet of 80 electric Lucid and Mercedes vehicles charged and on the road.
Economy

UAE invests $36bn in renewable energy projects in 2022, says ADDED  chairman

ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
  • The UAE has successfully enticed a staggering US$23 billion in 2022, up 10 percent from 2021, to be ranked 16th globally in FDI attraction.
  • UAE is now the world's fourth-largest recipient of greenfield projects, with nearly a thousand ambitious ventures announced last year.