INSEAD Day 4 - 728x90

Energy

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

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.

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

WEF24: AI stays at forefront of energy revolution

There is a need for global policy alignment to meet the rising energy demands and tackle climate change challenges, Marco...

Interview
Economy

IMF chief urges action as global recession risks rise

IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven...
  • The IMF chief said that if central banks move too aggressively to tamp down price pressures, it could trigger a prolonged economic downturn.
  • Finance ministers and central bank governors from over 180 nations will gather in Washington for a meeting of the IMF and WB.
Economy

Lebanon years away from gas riches despite Israel deal: analysts

With the demand for gas rising worldwide because of an energy crisis sparked by Russia's invasion of Ukraine, Lebanon hopes...
  • Following years of US-mediated negotiations, the rival states now appear to be nearing agreement
  • A deal would allow "offshore exploration activities to continue, but that doesn't mean that Lebanon has become rich
Economy

Oil prices rise as OPEC+ agrees to cut output by two million barrels a day

Oil prices had slid in recent weeks back to the levels before the war in Ukraine on concerns of a...
  • In Vienna, ministers from the 13-nation OPEC cartel and a group of 10 exporters led by Russia agreed to reduce production by two million barrels a day from November
  • It is the biggest cut since the height of the Covid pandemic in 2020 and came despite concerns it could fuel inflation further and push central banks to hike interest rates
Economy

OPEC+ angers US with biggest oil output cut since pandemic

The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two...
  • The cut raises fears that it will turbocharge oil prices at a time when countries are already facing soaring energy-fuelled inflation.
  • National Security Advisor Jake Sullivan and top economic advisor Brian Deese said in a statement that Biden was "disappointed by the shortsighted decision by OPEC+".
Economy

EU ‘ready to discuss’ plans to counter rising energy price

The EU is "ready to discuss" a price cap on gas within the bloc to bring down soaring energy costs,...
  • Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in the price of gas.
  • Russia, which used to be Europe's main gas supplier, has turned off the taps after being hit by EU sanctions over the war in Ukraine.
Economy

Energy crisis feared by Europe long a reality in Iraq

Soaring energy prices fuelled by Russia's war in Ukraine have forced a new reality upon European nations, where people are...
  • The noise of privately owned generators can be heard all over the country as households and businesses try to make up for supply shortfalls from the national electricity company
  • The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on its infrastructure and forced most of its people to adapt
Geostrategy

Germany to continue with $198bn energy fund despite EU criticism

Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it...
  • France and key members of the European Commission are asking for EU-wide solutions to the energy crunch aggravated by the Ukraine war.
  • They fear that European countries with high debts cannot afford the largesse demonstrated by Germany, the EU's biggest economy.
Market Report

Asian, European markets surge on interest rate hopes

Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease...
  • Monetary tightening by Federal Reserve and other central banks has raised fears that it could plunge countries into recession.
  • Eurozone manufacturing survey data showed a contraction on the back of the region's ongoing energy crisis.
Business

Multiply Group buys 80% of IEH

Firm aims to expand its utilities, energy investments.
  • Multiply Group had recently invested US$2.7 billion in a 7.3 percent stake in the Abu Dhabi National Energy Company.
  • Other investments include 100 percent ownership of PAL Cooling Holding, one of the top players in the UAE’s district cooling industry.
Geostrategy

IEA urges Europe to reduce winter gas consumption

Europe must ramp down gas consumption to survive the winter given perilously low stocks amid fears of a total cut...
  • The IEA warned of "unprecedented risks" of shortages unless demand is reined in, estimating cuts of nine percent are needed
  • IEA said diversification had at least enabled gas stockage facilities to stand at almost 90 percent of capacity at the end of September

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

Company News

Latest News

ADNOC, TAQA complete financial closing on sustainable water supply project

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
Business

Iran criticizes US statement on islands dispute with UAE

Iran said it had called in the Swiss envoy to deliver a protest over a “provocative” US statement on its...
Geostrategy

China to control half the world’s hydrogen electrolyser capacity

China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

TotalEnergies, Adani Group set up JV for wind, solar power production in India

PARIS, FRANCE - French firm TotalEnergies and Indian group Adani unveiled plans on Wednesday to create a joint venture to develop wind...
  • The JV will include wind and solar assets that Adani Green Energy Limited already operates and is building and developing in India.
  • TotalEnergies has been developing renewable electricity production, with 19 GW of installed gross production capacity as of July 2023.
Infographics

Aramco, IHC among biggest companies in Middle East

Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
  • High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
  • The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
Geostrategy

Jordan’s interconnection projects to serve as hub for energy exchange

AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
  • Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
  • The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.