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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

DOHA, QATAR - NOVEMBER 17: The Doha Skyline at sunrise on the fifth day of the 21st ANOC General Assembly at the Sheraton Grand Hotel on November 17, 2016 in Doha, Qatar. (Photo by Mark Runnacles/Getty Images for ANOC)

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 »

Baby dies following Qatar Airways flight to India

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Qatar Airways said Wednesday that a baby had died following a flight from Doha to the Indian city of Hyderabad. “We are aware of the very sad news that a young child passed away at Hyderabad International Airport this morning,” the airline said in a statement. “Our heartfelt sympathy and thoughts are with the affected family,” it added. A spokesperson ... Read More »

Rare snakes among 355 illegal items seized by Qatar customs last year

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Bags of snakes and rare reptiles, as well as drugs including hashish (cannabis resin), heroin and marijuana, were among the 355 items reportedly seized by Qatar’s customs officials at Hamad International Airport (HIA) last year. According to the figures reported in The Peninsula, the state’s General Authority of Customs makes on average nearly one seizure a day. While drugs make ... Read More »

Qatar’s customs authority foils several bids to smuggle drugs into the country

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Qatari authorities have always had a firm grip over smuggling attempts of drugs and other illegal substances into the country. As if to underline the fact, inspectors from the General Authority of Customs (GAC) recently foiled a number of attempts to smuggle illicit drugs into the country through Hamad International Airport (HIA) and Hamad Port, according to Gulf Times. The ... Read More »

Customs thwarts smuggling of 2.8 tonnes of tobacco

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Doha: Inspectors of the General Authority of Customs have seized 2,873 kg (2.8 tonnes) of prohibited tobacco materials at Hamad Port under the direction of the Maritime Customs. The seizure was made by the customs officers through the introduction of the shipment on the X-ray machine for accurate examination. The tobacco materials were hidden inside water heaters. Director of the ... Read More »

Customs foils attempts to smuggle narcotics at HIA

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Inspectors from the General Authority of Customs (GAC) have foiled attempts to smuggle a total of 22.7kg of hashish and 5kg of marijuana at Hamad International Airport (HIA). These operations were conducted in co-operation with the department concerned at the Ministry of Interior (MoI). The hashish was found in the possession of three passengers who had arrived at HIA on ... Read More »