INSEAD Day 4 - 728x90

Energy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

‘Innovation is crucial for UAE’s energy efficiency’

"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...

Use of DEWA’s electric-vehicle green chargers up 59% in 2023

Dubai, UAE -- Dubai Electricity and Water Authority (DEWA)’s EV Green Charger initiative witnessed a 59 percent increase in the...

Business
Geostrategy

Jordan to host renewable energy investment forum

AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
  • The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
  • The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
Geostrategy

After Israel, Lebanon eyes Cyprus maritime border deal

Cyprus, which has aspirations of becoming a major energy player in the eastern Mediterranean, has a key exclusive economic zone,...
  • In 2007, Lebanon and Cyprus signed an agreement to delineate their respective exclusive economic zones
  • Neighbours Israel and Lebanon signed on Thursday a US-brokered agreement removing hurdles for natural gas production
Business

ExxonMobil Q3 net surges to US$19.7bn

Hike in profit was due to high oil, natural gas prices.
  • The US oil giant became the latest petroleum heavyweight to report stunning third-quarter figures, with year-on-year profits nearly tripling.
  • The results show how the surge in crude prices in the aftermath of Russia's invasion of Ukraine has boosted oil company profits.
Business

OMV Q3 net profit at $3.28bn amid high energy prices

Revenue doubled year-on-year to US$17.1 billion.
  • OMV has worked closely with Russian giant Gazprom until the invasion of Ukraine.
  • Following European sanctions on Moscow, OMV froze its investments in Russia.
Geostrategy

China’s President Xi expected to visit Saudi Arabia: Saudi FM

Prince Faisal bin Farhan hailed the "historical and solid relationship" between the major oil exporter and Beijing after talks with...
  • The potential visit comes at a time of strained ties between Saudi Arabia and long-standing ally the United States
  • Xi visited Saudi Arabia in January 2016, the year before Prince Mohammed was named as heir to the throne, ushering in a period of reform
Market Report

Markets mixed as investors digest ECB hike, US data

Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of...
  • The euro lost against the greenback on Thursday, after having traded above one dollar for the first time since last month on Wednesday.
  • After fluctuating for much of the day, Eurozone stocks were flat by late afternoon trading.
Geostrategy

UAE President, Austrian Chancellor discuss bilateral relations

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in...
  • Leaders of UAE and Austria affirmed their interest in strengthening bilateral relations, especially in technology, energy, innovation and food security.
  • The two leaders underscored the importance of taking action to ease tension and promote dialogue to resolve crises with humanitarian, economic and food security implications.
Science

‘Carbon neutrality goals are useless if not backed by action’

UNITED NATIONS, UNITED STATES - Carbon neutrality goals are useless if not backed by action, UN Secretary-General Antonio Guterres said...
  • Commitments to net zero are worth zero without the plans, policies and actions to back it up, the UN chief said in a video message
  • The message's target audience was governments, in particular G20 countries, as well as private actors and financial institutions.
Business

TotalEnergies posts Q3 net profit of US$6.6bn

Firm said surging oil, gas prices helped it post massive profits.
  • Net profits at TotalEnergies soared 43 percent from the same period last year with record performances for its natural gas and liquefied natural gas activities.
  • The firm has now earned $17.3 billion over the first nine months of the year, more than the $16 billion in profits it posted last year.
Geostrategy

Climate pledges short of limiting temperature rise to 1.5C: UN Official

Paris, France - International climate pledges remain far off track to limit rising temperatures to 1.5 degrees Celsius, according to a...
  • The combined climate pledges of more than 190 nations that signed up to the 2015 Paris climate deal put Earth on track to warm by around 2.5C.
  • With the planet already battered by climate-enhanced heatwaves, storms and floods after just 1.2C of warming, experts say world is still failing to act.

‘Innovation is crucial for UAE’s energy efficiency’

"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...

Company News

Latest News

ADNOC awards two contracts for Hail and Ghasha Offshore Development project

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
Business

Farmers turn to solar power in Syria’s former breadbasket

Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
Business

Geopolitical changes derailed shift towards green energy, says IMF

Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Qatar begins construction on North Field gas expansion

RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
  • There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
  • Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Geostrategy

Oil industry is an integral part of climate solutions, says COP28 head

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
  • The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.
  • He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,
Business

DEWA commissions 200MW second unit in Al Maktoum Solar Park

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
  • It is set to provide clean energy for approximately 320,000 residences and reduce carbon emissions by 1.6 million tons annually.
  • This phase uses the Independent Power Producer (IPP) model with investments of up to AED 15.78 billion ($4.30bn).