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Qatar, EU in final stages of air services deal: Qatar Airways CEO

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Doha: Qatar and the European Union are in the final stages of concluding a comprehensive air transport agreement covering fair competition and transparency, the chief executive of state-owned Qatar Airways said on Tuesday. “We have taken bold steps by agreeing to articles on fair competition, social aspects, business practices, and transparency,” Akbar al-Baker said at a CAPA summit in Doha. ... Read More »

Shipbuilding sector in Qatar witnessing huge growth

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Doha: Qatar’s shipbuilding sector is witnessing strong growth with sharp rise in the number of ships coming for repair at the shipyard. The number of ship repairs at N-KOM has increased by 25 percent in the first half of 2018 at the world-class Erhama bin Jaber Al Jalahma Shipyard compared to the same period last year. Widely known as experts ... Read More »

QIB is Golden Sponsor of NAMA’s Entrepreneurship Business Conference

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DOHA: Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, is the Golden Sponsor of the 4th edition of the Entrepreneurship Business Conference and Products Exhibition, which is held by the Social Development Center NAMA, member of Qatar Foundation, at the Doha Exhibition and Convention Center between the 21st and 25th of January 2019. Sultan bin Rashid Al Khater, Undersecretary of ... Read More »

Qatar-Turkey trade surges to $2bn amid Gulf tensions

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Trade between Qatar and Turkey is estimated to have topped the $2bn mark in 2018, a 54 percent jump compared with the previous year, a Turkish official said. Speaking at a Turkish trade expo that kicked off in Doha on Wednesday, Deputy Finance Minister Osman Dincbas said Qatar was one of the fastest growing areas of trade for Turkey in ... Read More »

Qatar Airways announces global sales promotion

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Doha: Qatar Airways announced yesterday its latest global sales promotion designed to inspire passengers to explore new and exciting destinations in 2019. Qatar Airways’ passengers can enjoy exclusive discounts during this special promotion, where every journey to a destination becomes an unforgettable chapter, an experience that will create exciting stories to tell. The promotion is valid on all Qatar Airways ... Read More »

Qatar Airways acquires 5% of China Southern Airlines

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Doha: Qatar Airways has acquired five percent of China Southern Airlines, the airlines announced. Qatar Airways has completed an on-market purchase of certain A shares and H shares of China Southern Airlines, resulting in aggregate holding of approximately 5% of the total issued share capital of China Southern Airlines. The Minister of Finance and Chairman of Qatar Airways Group H ... Read More »

Qatar’s trade surplus rises by 28.1%, hits QR16.2bn last month

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Doha: Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of about QR16.2bn, an increase of about QR3.6bn or 28.1 percent in November 2018, compared to same month in 2017, and decreased by nearly QR2.8bn or 14.8 percent compared to October 2018. According to the Planning and Statistics Authority, which released preliminary ... Read More »

US airlines bristle at expansion of Qatar-backed Italian airline

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An Italian airline is now caught in the middle of a simmering dispute over government subsidies between the largest U.S. airlines and state-owned Qatar Airways. Qatar Airways owns a 49 percent stake in Air Italy, which is planning to serve Los Angeles and San Francisco next year from Milan. Delta Air Lines, American Airlines and United Airlines say the Doha-based ... Read More »

Qatar and Iraq sign agreements and MoUs

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The sixth session of the Joint Qatari-Iraqi Committee for Economic, Trade and Technical Cooperation was held yesterday. Minister of Commerce and Industry H E Ali bin Ahmed Al Kuwari and Dr. Mohammed Hashim Abdul Majeed Al Ani, Iraq’s Minister of Trade, who is visiting Doha, co-chaired the session. H E Al Kuwari highlighted Qatar’s friendly relations with Iraq, noting that ... Read More »

Foreign investors favour Qatar over Saudi stocks

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Doha: Foreign stock investors have made clear which side of the Saudi Arabia-versus-Qatar conundrum they favour, at least in 2018. Overseas institutional investors were net buyers of about $2.3 billion of shares traded on Doha’s bourse this year, more than triple the foreign flows into Riyadh, according to stock-exchange data compiled by Bloomberg. Inflows have picked up in Qatar this ... Read More »

Qatar to leave OPEC and focus on gas

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DOHA: Qatar said on Monday it was quitting the Organisation of the Petroleum exporting Countries (OPEC) from January to focus on its gas ambitions. Doha is one of OPEC’s smallest oil producers but the world’s biggest liquefied natural gas (LNG) exporter. Qatar said its surprise decision was not driven by politics but in an apparent swipe at Riyadh, Minister of ... Read More »

Qatar to open up more sectors for 100% foreign ownership

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Qatar is set to further expand its investment ecosystem allowing foreign investors for 100 percent ownership in more sectors. Opening Qatar-France Business and Investment Forum here yesterday, Yahya bin Saeed Al Nuaimi, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry said the country is working towards the issuance of a new investment law that would represent ... Read More »

Qatar Airways cautions jobseekers against fake job offers

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Doha: Qatar Airways has warned prospective employees of fake employment emails and advertisements purportedly showing that it is from the airline. The award-winning airline clarified in a statement that “all job postings for Qatar Airways are only available on the Qatar Airways official website and official social media channels.” Qatar Airways also cautioned jobseekers to verify the mails they get ... Read More »

GCC economic growth forecast to strengthen from 2018

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Economic growth in the GCC will strengthen from 2018 onwards, with the UAE and Qatar outperforming the rest of the region. according to new research. Analysts BMI Research said the factors that have weighed on expansion this year – hydrocarbon production cuts and lower-for-longer oil prices – will ease in 2018, boosting government revenues and improving consumer and investor confidence ... Read More »

Mending Qatar Ties Won’t Calm Investors Troubled by Saudi Shocks

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Investors stunned by Saudi Arabia’s unpredictable foreign policy under Crown Prince Mohammed bin Salman are unlikely to drop their guard even if the kingdom succumbs to U.S. pressure to resolve its conflict with neighboring Qatar and end the war the Yemen. While both issues shocked the investor community when they first erupted, they have since been eclipsed by aggressive policies ... Read More »

Barclays avoids trial over £6bn Qatar rescue package

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Barclays will not face trial on charges relating to the emergency £6bn rescue package it secured from the state of Qatar at the height of the financial crisis, after the high court ruled in the bank’s favour. The Serious Fraud Office (SFO) brought charges against the bank over the 2008 deal, which saved Barclays from having to request a UK ... Read More »

OFW remittances from the UAE, Saudi Arabia and Qatar fall

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DUBAI: The repatriation of Overseas Filipino Workers (OFW) from Middle East countries – where a major portion of remittances originate – contributed to a decline in money sent to the Philippines in August this year, government data said. “The countries that contributed to the decline in August 2018 are the United Arab Emirates, Saudi Arabia and Qatar,” the Bangko Sentral ... Read More »

Qatar Airways Chief Says Airline Is Now Short Of Aircraft, As Growth Resumes Despite Trade Boycott

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More aircraft orders and more international investments could be on the cards as Qatar Airways tries to put its toughest year behind it. But could further losses be on the way too? Last month, Qatar Airways revealed a $69 million loss in the 12 months to the end of March 2018. That was a radical reversal from the $770 million ... Read More »

Oil market is balanced, says Qatar energy minister

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DUBAI: The oil market is balanced in terms of supply and demand, Qatar’s Energy Minister Mohammed al-Sada said. “Geopolitical changes” are the reason for the recent rise in crude prices, the state-run Qatar News Agency quoted him as saying. “There are developments in the oil market including supply and the increase in global demand, and these considerations will be taken ... Read More »

Qatar Airways upgrades part of A350 order to biggest model

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DUBAI: Qatar Airways said on Monday it was upgrading five of its Airbus (AIR.PA) A350 jets on order to the largest model, in a boost for the European planemaker’s largest twin-engined jet. The Gulf airline was the launch customer for both A350 models and said in February it could switch some of its existing order of A350-900s to the bigger ... Read More »