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A worker at Al Faw Grand Port. The Development Road project aims to connect the port with Turkey

Gulf to collaborate on $17bn Suez Canal road and rail rival

The $17 billion “Development Road” project is moving ahead after the UAE, Iraq, Qatar and Turkey signed a quadrilateral cooperation agreement.  The road and rail collaboration aims to tie the Al-Faw Grand Port in Iraq’s oil-rich south to Turkey, thereby shortening travel time between Asia and Europe in a bid to rival the Suez Canal. […]

Philippine President Ferdinand Marcos Jr., walks with Qatar's Emir Sheikh Tamim Bin Hamad Al Thani during arrival honors at the Malacanang Presidential palace in Manila, Philippines, April 22, 2024. Aaron Favila/Pool via REUTERS

Philippines and Qatar sign nine agreements on trade

The Philippines and Qatar have signed nine agreements aimed at boosting trade and investment between the two countries, while also addressing global challenges such as climate change and human trafficking.  The agreements were signed by Philippine President Ferdinand Marcos Jr and Qatari Emir Sheikh Tamim bin Hamad Al Thani on Monday, the Philippine News Agency […]

Dubai was hit by the heaviest rainfall in 75 years on Tuesday, leaving motorists stranded floods rain weather UAE Gulf

Gulf’s record floods highlight ‘balance between risk and investment’

Historic rainfall this week in the Gulf, particularly in the UAE, has raised serious questions about investment in infrastructure to prevent the widespread flooding that brought much of the region to a standstill. On Tuesday the UAE was hit by its heaviest rains in 75 years. The downpour turned main roads into waterways, particularly in […]

Marcel Ciolacu, Romania's PM, speaks to reporters in Rome. He is now in Qatar for trade talks

Romania touts $16bn of opportunities as PM visits Qatar

Romania is looking to secure €15 billion ($16 billion) of investment from Qatar during a visit by its prime minister, Marcel Ciolacu. He is set to hold talks with Qatar’s prime minister and minister of foreign affairs, Mohammed bin Abdulrahman bin Jassim Al Thani. Ciolacu is also due to have discussions with representatives of Qatar […]

Qatar National Bank's net interest income increased by 12 percent to QR8.1 billion

Qatar National Bank reveals 7% increase in Q1 profit

Qatar National Bank’s (QNB) net profit increased seven percent year on year to just over QR4 billion ($1 billion) in the first quarter of 2023. Operating income rose 11 percent annually to above QR10 billion, maintaining strong growth across various income streams. The bank’s net interest income increased by 12 percent to QR8 billion. “Overall, […]

Souq Waqif in Qatar. The country's tourism plans including shopping festivals as part of plans to reach increase visitor numbers to 6 million by 2030

Qatar visitors increase by half in February

Qatar reported a 53 percent increase in international visitors in February, according to official figures from the country’s tourism authority. It follows a 106 percent rise in international arrivals in January as Qatar builds towards its ambitious target to welcome six million visitors in 2030. Last year Qatar’s visitor numbers passed four million. In February […]

Qatar hopes to lure skilled individuals and wealthy entrepreneurs

Qatar woos foreign talent with 5-year residency permit

Qatar has launched a residency permit aimed at attracting talented individuals and entrepreneurs.  The permit programme, which is expected to open in the next few months, offers five-year renewable residencies to people with expertise in specific fields including the arts and scientific research. Applicants must either have a job offer in Qatar or demonstrate financial […]

Pakistan aims to raise foreign exchange by selling PIA and outsourcing three airports to avoid a balance of payment crisis

UAE and Qatar in race for Pakistan’s privatisation deals  

Investors from the UAE, Qatar and Turkey have shown interest in Pakistan’s national airline and airports as the South Asian nation accelerates its privatisation programme. Other investors are from Germany, France, Netherlands, Malaysia and local groups, ARY News, a Pakistani news channel, reported.  Defence and aviation minister Khawaja Muhammad Asif has discussed outsourcing airports and […]

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Saudi giga-project designs to merge tradition and futurism

Saudi Arabia wants to ensure that the futurism of its giga-projects does not smother the diversity of its local architecture, according to the head of the government’s Architecture and Design Commission.  One of the most striking features of the kingdom’s transformation plan launched in 2016 has been its design – from otherworldly resorts planned for […]

In this photo illustration, the MSCI Inc. logo is displayed on a smartphone screen. (Photo by Rafael Henrique / SOPA Images/Sipa USA) No Use Germany.

Gulf weightings increase on MSCI Emerging Markets

The MSCI Emerging Markets Index has increased the weightings of Gulf countries since their inclusion on the benchmark, as regulators loosened rules and companies ease foreign ownership restrictions to make it easier to invest. According to MSCI, more than $1.3 trillion in assets under management (AuM) was benchmarked against its emerging markets indexes as of […]

A worker at Shell's Pearl GTL facility in Doha, Qatar. The country has yet to set a net zero target

Qatar’s gas expansion plans to drive budget surplus until 2030

Qatar is expected to retain budget surpluses until 2030, driven by an increase in gas production at the North Field Expansion (NFE) project, Fitch Ratings has said. The budget surplus is forecast at 8.6 percent of GDP in 2024, compared to 9.3 percent percent in 2023, the rating agency said in a report. “Oil and […]

Gulf wealth funds put investing in US well ahead of China

Most sovereign wealth funds in the Gulf remain heavily invested in the US, while China represents a much smaller part of their portfolios, data from the consultancy Global SWF shows.  The data also shows that the portfolios of Gulf sovereign wealth funds vary widely in terms of their geographical distribution. This is partly a result […]

Souq Waqif in Doha. Qatar's total business activity increased at the fastest rate in three months in February

Qatar’s non-oil companies optimistic despite higher costs

Higher output and strong demand for goods and services helped Qatar’s non-oil private sector to record a faster improvement in business conditions in February than in the previous month, a survey shows. The latest Purchasing Managers’ Index (PMI) survey by Qatar Financial Centre and S&P Global registered 51 in February, up from 50.4 in January.   […]

Qatar Airways says the entire fleet of Airbus A350 jetliners is now back in service

Qatar Airways’ A350 fleet returns to the skies

State-backed Qatar Airways has put its entire fleet of A350 jetliners back into service, a year after settling a dispute with European planemaker Airbus over flaking paint, a media report said. The A350 fleet is now completely repaired and back in air, chief commercial officer Thierry Antinori told Reuters. “You know we had this little […]

French president Emmanuel Macron greets Qatar's Emir Sheikh Tamim bin Hamad Al Thani in Paris

Qatar commits $11bn for French startups and funds

Qatar will invest €10 billion ($10.9 billion) in French startups and investment funds as part of a new strategic partnership. The announcement was made in a French-Qatari joint communique released during Qatar Emir Sheikh Tamim Bin Hamad Al Thani’s state visit to Paris. The investments will focus on energy transition, semiconductors, aerospace, artificial intelligence, health, […]

An Ooredoo shop in Tunis. Tunisia is one of the countries where the company intends to improve connectivity

Ooredoo to spend $1bn upgrading overseas networks

Qatari telecoms group Ooredoo is to spend $1.1 billion upgrading its mobile coverage and quality of servies in a number of key overseas markets. Over the period 2024-26, the company will allocate substantial sums to improve connectivity in Algeria, Tunisia, Gaza and the West Bank, Iraq and the Maldives.  Ooredoo’s operations in Gaza have been […]

Fintech businesses have seen strong growth in the Mena e-payments sector

Qatar’s new $1bn fund to propel global tech growth

State-backed Qatar Investment Authority (QIA) will launch the country’s first venture capital (VC) fund to invest more than $1 billion in international and regional VC funds. The “Fund of Funds” seeks to attract international VC funds and entrepreneurs to the Gulf state and the wider Gulf Cooperation Council (GCC) region, focusing on the finance, education […]

Qatar’s new LNG discovery to expand output by 85%

State-run QatarEnergy will start work on a new liquefied natural gas (LNG) expansion initiative to expand the Gulf state’s LNG production capacity to 142 million tonnes per annum (mtpa) by the decade’s close. The North Field West project will see an 85 percent increase from current production levels, said Saad Al-Kaabi, president and CEO of […]

QatarEnergy ethylene Emir Sheikh Tamim bin Hamad Al Thani

QatarEnergy breaks ground on $6bn ethylene complex

QatarEnergy has broken ground on the $6 billion Ras Laffan petrochemical complex as part of its downstream expansion strategy. The state-owned Qatari energy firm had signed a final investment decision on the complex with its partner Chevron Phillips Chemical in January last year. The complex will house an ethane cracker with a capacity of 2.1 […]

The Ooredoo board will recommend a cash dividend of QAR0.55 per share at the annual general meeting in March

Ooredoo’s 2023 profit reaches all-time high of $824m

Qatari telecom major Ooredoo reported an all-time high net profit of QAR3 billion ($824 million) in 2023, up 28 percent year on year thanks to solid performances in Iraq, Kuwait, Algeria and the Maldives. Revenue increased by two percent year on year to QAR23.2 billion, the company, which trades on the Qatar stock exchange, said […]

Turkey's stall at the India International Trade Fair in New Delhi: trade and investment opportunities between India and the region are increasing, says HSBC

$112bn of trade with India ‘ready to be tapped’

Untapped trade opportunities between India and the Middle East, North Africa and Turkey could be worth more than $112 billion, research has found. An HSBC report, which analyses data from the UN/WTO International Trade Centre, estimates that there is a $61 billion export gap for Indian companies in the key markets of the UAE, Saudi […]