Tuesday , October 15 2019
Breaking News


QNB outperforms global peers in ESG ranking


QNB, the largest financial institution in the Middle East and Africa, has emerged numero uno in the MSCI ESG ranking, out performing the world’s top 10 Big Banks. The global index provider MSCI’s ESG rating history of QNB shows that the bank’s rating grew steadily from “BB” in October 2015 to “BBB” through September 2016 and September 2018 hitting the ... Read More »

Guyana signs agreement with Qatar Airways


GEORGETOWN: The governments of Guyana and Qatar have signed an agreement that will see Qatar Airways beginning passenger and cargo flights to Guyana. The agreement was recently signed in Qatar, between the Qatar Civil Aviation Authority and the Guyana Civil Aviation Authority. According to a statement, the agreement will permit Qatar’s national carrier Qatar Airways to operate any number of ... Read More »

Qatari investors invited to explore opportunities in Somalia


Doha: Qatar Chamber’s First Vice-Chairman, Mohamed bin Ahmed bin Towar Al Kuwari, met with Sadik Hiris Warfa, Somalia’s Minister of Labour and Social Affairs, yesterday and discussed ways to enhance bilateral co-operation between both countries. The Ambassador of Somalia to Qatar, Adbul Razzaq Farah Ali, attended the meeting. Bin Towar stressed that Qatari private sector highly welcomes enhancing cooperation with ... Read More »

Qatar Airways’ fleet grew 57% since 2014-15


Qatar Airways’ fleet size has grown by 57 percent, driven by its aggressive global expansion plan. Its fleet has grown from 159 aircraft in 2014-15 to 250 aircraft as of March 21 this year. It has been a tremendous journey for Qatar Airways Group, which had just four aircraft 20 years ago. Its fleet is made up of 203 passenger ... Read More »

Qatar Airways wins global awards for good customer service

Qatar Airways

Qatar Airways last Tuesday won major global awards at the 2020 Airline Passenger Experience Association’s (APEX) Passenger Choice Awards in Los Angeles. The airline won three awards for Best Seat Comfort, Best Cabin Service and Best Food & Beverage and was also named ‘2020 Five Star Global Airline’ in the APEX Official Airline Ratings. The Middle East country received thumbs ... Read More »

QCB’s total assets grow by 23.7% to QR233bn


The Qatar Central Bank’s (QCB) total assets increased by a significant 23.7 percent to QR233bn at the end of 2018, compared with QR188.4bn in 2017. The year 2018 witnessed considerable shifts in the composition. There was large accumulation of net foreign assets as capital flows normalized during 2018. A major portion of these net foreign assets was developed in the ... Read More »

Qatar Chamber Chairman, Germany’s Deputy Minister of Economy review bilateral trade ties


DOHA: Germany’s Member of Ministries Council and Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy Thomas Bareiss met with Qatar Chamber’s Chairman Sheikh Khalifa bin Jassim Al Thani in Berlin. The meeting reviewed ways of developing cooperation relations between both friendly countries, exploring investment opportunities available in both sides as well as activating private sectors to ... Read More »

Qatar economic growth to accelerate in 2019-2020: QCB

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Qatar’s economic growth will accelerate over the next two years amid expectations of stable oil prices and continued strong exports, the central bank said. Qatar, a major gas exporter, saw its economy grow 1.4% in 2018, down from 1.6% in 2017, government data showed. “Although real GDP growth was somewhat slower than the preceding year, the economic outlook for 2019 ... Read More »

Qatar implements IMF’s e-GDDS to support data transparency


Qatar has launched a National Summary Data Page (NSDP) in implementing the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS). The e GDDS was established by the IMF’s Executive Board in May 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and surveillance. The NSDP is hosted by the Planning and ... Read More »

UDC records net profit of QR238m in H1


United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl-Qatar and Gewan Islands reported a net profit of QR238m on revenues of QR912m for the first half of 2019. The net profit attributable to the equity shareholders was QR225m and basic earnings per share stood at QR0.063. Turki bin Mohammed Al Khater, UDC ... Read More »

Qatar, US agree major deals


DOHA: The US and Qatar have agreed a raft of contracts worth billions of dollars during a visit to Washington by the Gulf state’s emir, including an $8 billion deal on a petrochemical project. Qatar Petroleum and US energy giant Chevron Phillips Chemical inked the deal to develop a “world class” petrochemical plant in the US Gulf Coast region, Doha’s ... Read More »

QICDRC enhances Qatar’s arbitration sector with international partnership


The Qatar International Court & Dispute Resolution Centre (QICDRC) and the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) signed a Cooperation Agreement that outlines strategic cooperation in the field of investment dispute resolution. As per the agreement, QICDRC and ICSID will be able to conduct all or any part of arbitration proceedings at the seat of their ... Read More »

How economic blockade on Qatar backfired


When a small Gulf nation like Qatar is blockaded by four of its powerful neighbours for two consecutive years by land, sea and air, one would expect a crisis of unparalleled proportions. The blockade began on June 5, 2017, when Saudi Arabia, the United Arab Emirates, Egypt, and Bahrain accused Qatar of sponsoring terrorism. It was Qatar’s independent foreign policy, ... Read More »

Lending start-up SoFi closes $500 million funding round, led by Qatar


Online lending start-up Social Finance just closed a half-a-billion-dollar funding round, led by Qatar. The company, better known as SoFi, plans to use the $500 million cash injection to invest in more growth and strengthen its now $2.3 billion total balance sheet, SoFi said in a press release. SoFi’s valuation will stay roughly the same as its previous $4.3 billion ... Read More »

Qatar Chamber discusses issues of private schools


Qatar Chamber’s (QC) Education Committee held a meeting at the QC headquarters recently to discuss the main obstacles faced by private schools in the country, in addition to the issues related to the Ministry of Administrative Development, Labour and Social Affairs (MADLSA). The meeting was presided over by QC’s First Vice Chairman and Head of QC’s Education Committee Mohamed bin ... Read More »

Metro Bank shores up finances; prepares for tough investor meeting

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Metro Bank has raised £375mn ($478mn) to repair its balance sheet, giving the British bank breathing space ahead of a potentially fractious annual meeting tomorrow. The nine-year-old challenger bank’s market value fell more than £1.5bn after disclosing in January it had under-reported the risk of its loan book by nearly £1bn, hitting its capital levels. Shares in the bank jumped ... Read More »

QNB opens new branch in Msheireb Metro Station


Qatar National Bank (QNB), the largest financial institution in the Middle East and Africa, yesterday announced the opening of its new branch in the Msheireb Metro Station, thus being the first bank to open a branch in the new station. The opening of the new branch is testament of QNB’s keenness to provide its customers with easy access to leading ... Read More »

S&P affirms Qatar’s ratings with stable outlook


Noted rating agency S&P Global has affirmed Qatar’s sovereign ratings with a stable outlook, and said that government’s assets will likely remain a core rating strength of the economy. The rating agency, in its report released yesterday, projected that Qatar’s GDP is expected to grow by 2.8 percent and the current account surplus will be averaging 4.5 percent of GDP ... Read More »

US-Qatar Business Council welcomes Qatar’s new Commercial Attaché to US

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The US-Qatar Business Council (USQBC) has hosted a reception to welcome Fahad al-Dosari, Qatar’s newly appointed Commercial Attaché to the US. The reception welcomed over 60 members of the business community and was hosted at the recently opened Conrad Hotel near CityCenterDC, which is one of Qatar’s first major investments in the US, totalling over $650mn. Al-Dosari is the first ... Read More »

Greece-Qatar Business Council chairman sees boost in private sector ties

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Chairman of Greece-Qatar Business Council Panagiotis Mihalos has said the level of bilateral ties and the attractive investment climate of the two countries pave the way for more co-operation between the private sector. He added, during an interview with Qatar News Agency, that co-operation between the two countries’ private sector is set to improve thanks to the effort made by ... Read More »