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QatarGas recovers 535,000 metric tonnes of LNG


DOHA: Qatargas announced that its Boil-Off Gas (JBOG) recovery facility has safely recovered approximately 535,000 metric tonnes of Liquefied Natural Gas (LNG), which is enough to power as many as 300,000 homes. JBOG recovery facility has recently achieved a major milestone marking its 1000th loading with the LNG Ship, Rasheeda, since operations started in October 2014, the company said in ... Read More »

Beema’s profit surges by 23% in 3Q


DOHA: Damaan Islamic Insurance Company (Beema) announced its results for the third quarter of 2015 after their Board of Directors meeting on the September 25, chaired by Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani, Chairman of the company. The Chairman said in his address that Beema achieved a total profit for both shareholder and policy holders an ... Read More »

Aamal’s net profit rises 23.7% to QR366.7m

Business Graph

DOHA: Driven by strong revenue growth and margin expansion, Aamal, one of the GCC’s fastest growing diversified companies, delivered an impressive QR366.7m total net profit for the first nine months of 2015 (9M, 15). The 9-month net profit is up 23.7 percent compared to the corresponding period in the previous year. Aamal’s revenue for grew by 29.6 percent to QR2.07bn ... Read More »

Qatar’s UDC net profit jumps 6% to QR595m


DOHA: United Development Company (UDC), one of the leading Qatari public shareholding companies and master developer of The Pearl-Qatar, delivered an impressive QR595m net profit attributable to equity holders of the parent for the third quarter of 2015, up 6 percent compared to the same period in the previous year. UDC’s total net profit stood at approximately QR620m compared to ... Read More »

Qatar Fuel’s net profit surges 3.36% to QR884.8m


DOHA: Qatar Fuel’s (Woqod) net profit, after excluding minority interest, reached QR884.8m for the third quarter of 2015 (Q3, 15). The Q3, 15 profit reflects an increase of QR28.7m or 3.36 percent as compared to the same period of 2014. Woqod’s Board of Directors, chaired by Sheikh Saoud bin Abdulrahaman Al Thani (pictured), the Chairman of the Board, reviewed and ... Read More »

Customs agents training program launches at Qatar Chamber


DOHA: A training program for customs agents started Wednesday at Qatar Chamber headquarters with a joint organization between the chamber and the General Authority of Customs. The program, which runs until November 15, involves a set of topics, including customs law, customs idioms, customs clearance, protection of intellectual property rights and outstanding issues related to fees and international organizations and ... Read More »

Industries Qatar net profit hits to QR3.8bn


DOHA: Industries Qatar (IQ), one of the region’s industrial giants with interests in the production of a wide range of petrochemical, fertiliser and steel products, recorded a net profit of QR3.8bn for the period ended September, 2015. The group recorded strong financial results across all segments during the current year amidst the current economic environment as the sales volumes grew ... Read More »

Doha Court fines QR1mn in tobacco, cigarettes smuggling case


DOHA: A Doha Criminal Court has ordered a local commercial company to pay a fine of QR1mn after being convicted of smuggling a large quantity of tobacco and cigarettes, local Arabic daily Arrayah reported on Wednesday. The company tried to hide the tobacco and cigarettes inside a number of other commercial items to pass through the customs unnoticed. Besides, it ... Read More »

Qatar’s MPHC revenue falls 24.8% to QR 2.4bn

revenue fall

DOHA: Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates with interests in the production of olefins, polyolefins, alpha olefins and chlor-alkali products, recorded a consolidated net profit of QR786.2m for the nine months period ended September 2015. Management reporting revenue for the nine months, calculated by proportionately consolidating group ... Read More »

Barwa real estate net profit swells by 420% to QR 3.5bn


DOHA: Barwa Real Estate Company has posted a net profit of QR 3.5 Billion for the period ended September 30, a jump by 420% compared to QR 673 Million recorded for the same period in 2014, according to a Qatar Stock Exchange (QSE) bulletin today. The company’s earnings per share (EPS) significantly increased to QR 9.18 compared to an EPS ... Read More »

Qatar exports to Jordan increase $40m in past 8 months


DOHA: Qatar’s exports to Jordan increased during the past eight months of 2015, according to the Jordanian Department of Statistics data released. The data say that Qatari exports to the kingdom over the past eight months amounted to $40 million, compared with $32.4m during the corresponding period of 2014.. Jordan’s exports to Qatar during the last eight months of 2015 ... Read More »

Doha Bank profit rises 1% to QR1.14bn in Q3

Business Graph

DOHA: Doha Bank has registered a net profit of QR1.14bn in the third quarter of 2015 compared to QR1.13bn posted in the same quarter previous year. It is a 1 percent growth. “This is another strong result and is clear demonstration that Doha Bank continues to perform consistently,” said Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of the ... Read More »

QIC premium grows 20% to QR5.38bn in 9 months

profit rises

DOHA: Qatar Insurance Company (QIC), Qatar’s and the Mena region’s leading insurer, posted record Gross Written Premiums (GWP) of QR5.38bn for the first nine months of 2015, demonstrating a strong growth of 20 percent compared to the same period of the previous year. Key drivers of growth include QIC’s international reinsurance operations (Qatar Re and Antares) and regional personal lines ... Read More »

Qatar’s Masraf Al Rayan profit surges 6.14% to QR1.5bn in first nine months


DOHA: Masraf Al Rayan, a leading bank in Qatar and the region, reported a net profit of QR1.5bn during the first nine months of 2015 compared to QR1.4bn for the corresponding period of the previous year, a growth rate of 6.14 percent. The bank’s total assets reached QR79.53bn compared to QR77.83bn as of September 30, 2014, a growth of 2.20 ... Read More »

QIB completes successful issuance of $750m sukuk


DOHA: Qatar Islamic Bank (QIB), rated A- S&P / A+ Fitch (both stable outlook), priced a highly successful $750m 5-year RegS only sukuk offering. The sukuk was issued at par with a profit rate of 2.754 percent, representing a spread of 135bps over 5-year mid-swaps. The sukuk came on the back of comprehensive set of global investor meetings conducted in ... Read More »

Nakilat profit surges 9% to QR756.3m in first nine months


DOHA: Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, delivered QR756.3m profits for the first nine months of this year, an increase of 9 percent from the same period last year. The healthy financial results reflect Nakilat’s strategic development, the success of its joint ventures, and the company’s resilience in the challenging economic climate. The Board of ... Read More »

Foreigners can now own up to 49% stake in Nakilat


DOHA: Nakilat’s LNG shipping fleet is the largest in the world with some 63 vessels. Foreign shareholders can now hold up to 49% in Nakilat listed on the Qatar Stock Exchange. Qatar Central Securities Depository (QCSD) has amended the foreign ownership limit (FOL) in the shares of Nakilat up to 49% of capital, as at the end of yesterday’s trading ... Read More »

Qatar, Kazakhstan ready to boost investments


DOHA: H E Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce, underscored the need for Qatar and Kazakhstan’s need to boost bilateral investments. After co-chairing the fourth session of the Qatari and Kazakh joint committee with Kazakh Minister of National Economy Yerbolat Dossayev, Sheikh Ahmed bin Jassim underlined the strong bilateral relations and the need to exert ... Read More »

Nakilat increase foreign ownership limit to 49%


DOHA: Qatar Central Securities Depository (QCSD) has given the nod to Qatar Gas Transport Company (Nakilat) to increase its foreign ownership limit to 49 percent. The QCSD explained that this amendment comes as part of the implementation of Law No. (9), which allows foreign investors to own a percentage not more than 49 percent of each company listed on Qatar ... Read More »

Qatar’s Commercial Bank posts net profit of QR1.34bn in 9 months

high profits

DOHA: The Commercial Bank QSC reported a net profit of QR1.34bn for the nine-month period ended September 2015, compared to QR1.55bn for the same period in 2014, a decrease of 13.7 percent. The bank’s net operating income rose by 4 percent to QR3.05bn and total assets are up 4.3 percent to QR119.2bn on year-on-year. Sheikh Abdullah bin Ali bin Jabor ... Read More »