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Qatar

Qatar wealth fund-backed Group One mulls US listing

Group One Holdings, backed by sovereign wealth fund Qatar Investment Authority (QIA), is planning an initial public offering (IPO) in the US, Bloomberg reported. The company behind mixed martial arts brand One Championship is changing its legal domicile to the Cayman Islands from Singapore as a step towards the listing. Earlier, the company had explored […]

Qatar residential rents surge on higher World Cup demand

Residential rents in Qatar accelerated in April and May 2022 as landlords took advantage of a spike in demand ahead of the FIFA World Cup, Cushman and Wakefield said in its Q2 property market report. Apartment rents increased on average 30 percent year-on-year in June 2022. “The surge in rent is based on a short-term […]

Qatar ramps up recruitment drive ahead of World Cup

With just over 100 days until the start of the tournament, the World Cup Qatar 2022 is looking to hire thousands of temporary workers to help stage the Middle East’s largest ever sports event. Regional competition for talent remains high, but Qatar has so far resisted offering inflated salaries to lure cross-border workers. French hotel […]

Snap eyes Qatar office to support local creators

US social media firm Snap Inc. has signed a memorandum of understanding with Qatar’s Government Communications Office (GCO) to open a new office in Doha, expanding its footprint across the Middle East. This move is part of Snap’s efforts to work closely with local partners and businesses to grow the country’s digital landscape, GCO said […]

Airbus axes remaining A350 jet deal with Qatar Airways

Airbus has revoked its entire outstanding order from Qatar Airways for A350 jets, severing all new jetliner business with the Gulf carrier in a dramatic new twist to a dispute clouding World Cup preparations, two industry sources said. No comment was immediately available from Airbus or Qatar Airways. The two aviation titans have been waging […]

Qatar Airways could revive order for 25 737 MAX airplanes

Qatar Airways could revive an order for 25 Boeing 737 MAX airplanes at the Farnborough Airshow, sources told Reuters. On Monday, Qatar CEO Akbar Al Baker confirmed that a provisional deal to buy at least 25 of the Boeing planes had lapsed. Boeing and Qatar Airways declined to comment Wednesday but two sources said the […]

Office Building, Building, Tarmac

Airbus loses bid to use French blocking law in $1.4bn Qatar row

A UK judge on Friday rejected an attempt by Airbus to invoke a De Gaulle-era law restricting the way it responds to foreign courts, as a high-profile dispute with Qatar Airways became mired in a growing debate over cross-border legal powers. Qatar Airways is suing France-based Airbus for $1.4 billion over damage to the painted […]

Building, Stadium, Arena

Qatar spends $162m on Swiss air defence systems for stadiums

Swiss arms exports rose more than 40 percent to CHF 516 million in the first half of this year, the Economy Ministry said, with CHF 159.8 million ($162.74 million) in sales of air defence systems to Qatar to protect stadiums during the soccer World Cup making a decisive contribution. After Qatar, the top five buyers […]

Field, Building, Stadium

Qatar’s World Cup stadium stands will be alcohol free

Qatar’s World Cup stadium stands are set to be alcohol-free, with beer sales outside arenas only allowed before and after some matches, a source with knowledge of plans for the soccer tournament said. This year’s World Cup is the first to be held in a Muslim country with strict controls on alcohol, presenting unique challenges […]

A source close to Prince Charles said such large donations would not happen again

Prince Charles charity files report over $3m Qatari donations

A charity linked to the UK’s Prince Charles has submitted a serious incident report to the government’s charity regulator, after it was reported that the royal had received payments of €3 million ($3.08 million) from a Qatari politician. The Sunday Times reported on June 25 that the heir to the British throne had received three […]

Airplane, Aircraft, Vehicle

Airbus cancels deal with Qatar Airways for fourth A350 jet

Europe’s Airbus has raised the stakes in a dispute with Qatar Airways over damage to the painted surface of long-haul A350 jets by revoking the contract for a fourth airplane, three people familiar with the matter said. The two companies are locked in a dispute over the impact of surface scars on the jets, with […]

Qatar’s economy grows 2.5% in first quarter

Qatar’s economy grew 2.5 percent in the first quarter from a year earlier, although the growth fell slightly from the previous quarter, official estimates showed on Tuesday. Qatar’s real gross domestic product (GDP), which is adjusted for inflation, shrank 0.3 percent in the first quarter from the fourth quarter to 166.26 billion riyals ($45.68 billion), […]

Office Building, Building, High Rise

Qatar First Bank acquires office tower in the US

Qatar First Bank has acquired a building in Richmond, Virginia, the lender’s eleventh real estate investment deal in the United States. The Gateway Plaza building is described as a Class AA trophy asset with an area of 330,000 square feet, the bank said in a press statement. Build in 2015, the building is a multi-tenant […]

A-listers to splash cash on extravagant World Cup parties

A star-studded line-up is set to splash out on after-parties at the Qatar World Cup, according to the region’s event planners. F1 champion Lewis Hamiliton, supermodel Bella Hadid and singers Usher, The Weeknd and French Montana are among the celebrities flying out for the winter tournament, said Bally Singh, founder of the Rich List Group. […]

Military, Military Uniform, Person

Qatar in $60m pledge to support Lebanese soldiers’ salaries

Qatar has pledged $60 million to the Lebanese army, state news agency QNA said on Thursday, funding that is earmarked to support the salaries of Lebanese soldiers, two sources briefed on the deal told Reuters. The Lebanese Armed Forces (LAF) said the package was intended “to support members of the army” but did not specifically […]

Office Building, Building, Architecture

Hotelier recruiting 12,000 workers for World Cup

Hotel operator Accor is recruiting 12,000 temporary overseas employees to operate 65,000 empty rooms in apartments and homes in Qatar as temporary fan housing for the 2022 soccer World Cup, its chairman and CEO Sébastien Bazin told Reuters. Qatar is working to avoid an accommodation shortage during the tournament and has hired Accor, Europe’s largest […]

Qatar pledges $100m to recover distressed assets

The Qatar Financial Center (QFC) said on Monday that it has pledged $100 million to fund a new platform aimed at recovering distressed assets. Atlas Merchant Capital, the private equity firm co-founded by former Barclays Plc chief Bob Diamond, will advise the new platform on strategy and the new vehicle will seek to coordinate with […]

Tie, Accessories, Accessory

Qatar’s Tamim to visit Egypt for first time since boycott

Qatar’s ruler will visit Egypt on Friday, his first trip to the country since Egypt and Qatar agreed last year to end a long-running regional feud, diplomatic sources said. Emir Sheikh Tamim bin Hamad al-Thani, who last visited Egypt in 2015, will hold a formal meeting with Egypt’s President Abdel Fattah al-Sisi in Cairo on […]

Qatar shares suffer biggest weekly drop in two years

June 23 (Reuters) – Qatari shares led declines in the Gulf on Thursday to post their biggest weekly decline in more than two years, as investors worried that further rises in interest rates to quell decades-high inflation would tip economies into a recession. US Federal Reserve Chair Jerome Powell said on Wednesday the central bank […]

Office Building, Building, Traffic Light

Global recession coming in 2023, says Qatari central bank chief

Qatar central bank governor Sheikh Bandar bin Mohammed bin Saoud al-Thani warned on Tuesday the global economy may face stagflation this year and a recession by 2023. Speaking at the Qatar Economic Forum, he said continued supply side constraints could limit central banks’ potential for action. Finance minister Ali bin Ahmed al-Kuwari said Qatar may […]

Qatari fund sells half its stake in Spanish retailer El Corte Ingles

Privately owned Spanish department store chain El Corte Ingles said on Tuesday it bought back half of the stake Qatari fund Primefin held in the company. Primefin, an investment vehicle of Sheikh Hamad Bin Jassim Bin Jaber Al Thani, the former Prime Minister of Qatar, will keep a 5.53 percent stake in Corte Ingles, while […]