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Qatar

Customer deposits at QNB at the end of June were up 6 percent year on year to QR891 billion

QNB proposes first interim dividend in 60 years

Qatar National Bank (QNB), the largest Gulf bank by assets, has proposed to distribute the first-ever interim dividend in six decades after strong retained earnings and sufficient regulatory reserves. The board plans to pay a 33 percent interim dividend, or QR0.33 per share, payable to shareholders on record at the close of trading on July […]

Qatar tourism

Qatar moves to meet growing tourism demand

Qatar is seeking to build up its tourism infrastructure and capitalise on a sharp increase in international visitors by launching a $5.5 billion entertainment-focused development, according to industry experts. The Simaisma Project, by the Diar Real Estate Investment Company, was announced last week by Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s prime minister. It will […]

A growth in passenger numbers of 26 percent contributed to Qatar Airways' record profit

Qatar Airways announces record profits

Qatar Airways Group has reported the strongest financial results in its 27-year history after announcing profits of more than QR6 billion (almost $2 billion) for the 2023-24 financial year. Revenues at the state-backed company increased by 6 percent year on year to QR81 billion. Passenger revenue was up by 19 percent, with a capacity increase […]

The PIF's domestic stakes include Saudi Telecom STC but it is also a top investor abroad

Saudi PIF is top global investor in first half of 2024

Saudi Arabia’s Public Investment Fund was the highest-spending state-owned investor in the first half of 2024, while three Abu Dhabi institutions were also in the top five. The PIF owns stakes in various domestic companies including Saudi Aramco, Saudi Telecom Co and Saudi National Bank and is spearheading the kingdom’s giga-project development programme. It invested […]

People celebrate after Eid al-Adha morning prayers inside Education City Stadium, Doha. The completion of infrastructure projects leading up to the 2022 World Cup meant there were few opportunities and catalysts left for the market

Sustained sell-off makes Qatari stocks more attractive

Qatari stocks are among the Gulf’s most attractively priced, according to core metrics, after a sustained slump on Doha’s bourse. The decline – the Qatari index is down about 27 percent from its late 2021 peak – comes after a momentous rally that propelled the index to a seven-year high when investors bet on a […]

QatarEnergy CEO and Qatar's energy minister Saad Al Kaabi. The company has secured sales of 25 million tonnes of LNG in the past year

QatarEnergy profits down by 31%

Annual profits at QatarEnergy have dropped by almost a third after gas prices fell from the highs caused by Russia’s invasion of Ukraine. The state-owned company reported net profits of QAR101.9 billion ($28 billion) in 2023, down 31 percent on the previous year, when the start of the conflict in Eastern Europe caused gas prices to […]

Ooredoo ad in Doha. The company is investing $1bn to increase its data centre capacity

Qatar’s Ooredoo signs AI deal with chipmaker Nvidia

US chipmaker Nvidia has signed a deal with Qatari telecommunications provider Ooredoo Group to bring its artificial intelligence technology to five countries in the Middle East, the companies announced on Sunday.  Ooredoo will be the first company in the region to offer direct access to Nvidia’s AI and computer chips to its customers in Qatar, […]

QatarEnergy said the pact with Japan's Eneos is the “largest and longest commitment” in more than a decade

​QatarEnergy signs second naphtha deal with Japan

QatarEnergy has signed a second long-term naphtha supply agreement with a Japanese company. The state-backed gas producer will provide Eneos Corporation, a refining and petrochemical company, with up to 9 million tonnes of naphtha – a partially refined petroleum product commonly used as a solvent – over 10 years starting in July.  The agreement is […]

Rooftop dining at a luxury hotel in Doha. The city's construction costs rank second in the region, cheaper than Riyadh but higher than Dubai

Construction is ‘cheaper in Dubai than Riyadh or Doha’

Dubai is only the third most expensive construction market in the Middle East after Riyadh and Doha, research has found. A real estate boom led by the leisure, hospitality and sports sectors, combined with a “distinct shortage of skilled labour”, have driven up construction costs in the Saudi capital to an average of $2,593 per […]

The Villaggio Mall in Doha. Qatar's prime malls are succeeding but others are experiencing growing vacancy rates

Premium Qatar malls thrive despite online competition

Large high-end malls in Qatar are winning the favour of consumers who still choose to shop in person amid intensifying competition from the internet. However, other shopping venues are suffering from reduced footfall and growing vacancy rates. The flagship Doha Festival City announced last month that it is fully leased after clinching its 500th retail […]

Qatar Kazakh mobile network

Qatar company buys Kazakh mobile network for $1bn

Qatar Power International Holding has bought Kazakhstan’s largest mobile phone network. The Qatari company, a private conglomerate based in Lusail, has bought Kazakhtelecom subsidiary Mobile Telecom-Service LLP, Reuters reported, citing a statement from the Kazakh government on Tuesday. Mobile Telecom-Service LLP is a joint venture between Swedish telco Tele2 and Kazakh high speed mobile internet […]

Rwandan flag carrier RwandAir has access to Qatar Airways’ network due to a code-share agreement with the Gulf airline

Qatar Airways to buy 49% of Rwanda’s flag carrier

Qatar Airways is expected to buy a 49 percent stake in Rwanda’s flag carrier RwandAir as early as July as part of the Gulf airline’s strategy to expand in Africa, according to a media report. Qatar Airways’ purchase will boost Rwanda’s aviation sector and allow RwandAir to expand its operations and fleet, Financial Times reported, quoting […]

The total value of Qatari mortgage transactions has risen by 110 percent in two years. New regulations came into force in 2023

Qatar’s mortgage market buoyed by law reforms

Qatar’s mortgage market has been given a lift by a package of regulatory reforms, industry experts told AGBI after transactions rose sharply despite high interest rates. In the first quarter of 2024, the value of Qatari mortgage transactions was nearly 90 percent higher than in the previous three months, according to ValuStrat research. It was […]

If Qatar wins the right to host rugby's Nations Championship, the games will take place at Lusail Stadium, seen here during the football World Cup in 2022

Qatar a step closer to hosting rugby Nations Championship

Qatar has been given a two-month period of exclusivity to negotiate a deal to bring rugby’s Nations Championship to the Gulf state, according to reports. Last month Doha’s sport-focused Supreme Committee for Delivery and Legacy proposed an £800 million ($1 billion) eight-year deal to stage a six-match finals series, involving all 12 tier-one nations, starting […]

Almost a quarter of Qatar's population is under 25, adding to the need for more schools

Qatar’s rising population increases demand for schools

Qatar’s growing population is fuelling demand for new schools as investors seek to capitalise on double-digit returns. The Gulf state’s population grew from about 1.45 million in 2008 to roughly 2.9 million last year and is forecast to reach 3.2 million by the end of the decade. That translates into a need for an additional […]

QIA is looking to invest in Japan's real estate, manufacturing and semiconductor sectors

Qatari wealth fund targets expansion in Japan 

Qatar Investment Authority (QIA), the country’s sovereign wealth fund, is exploring new opportunities in Japan, according to a media report. “It’s a key market for us,” Abdulla Ali Al-Kuwari told Nikkei, a financial daily in Japan. The fund’s investments in Japan have “more than doubled” after it opened an office in Singapore in 2021, he […]

QatarEnergy CEO Saad Sherida Al Kaabi said the deal will strengthen its 50-year partnership with Japan's Idemitsu

QatarEnergy signs naphtha deal with Japanese refiner

QatarEnergy will supply six million tonnes of naphtha to Japan over the next 10 years starting in July. The state-backed gas producer has signed a supply deal with Idemitsu Kosan Company, a Japanese refining and petrochemicals company. Naphtha is a flammable liquid hydrocarbon mixture commonly used as a solvent. It can also be used in […]

Mohamed Hadi Al Hussaini, UAE minister of state for financial affairs, and Qatari finance minister Ahmed Al Kuwari sign the tax agreement

UAE and Qatar in deal to avoid double taxation 

The UAE and Qatar have signed an agreement to prevent double taxation and curb fiscal evasion of income taxes. The agreement will enhance financial, economic, and investment partnerships between the two nations, UAE minister of state for financial affairs Mohamed Al Hussaini said. The move will bolster coordination and cooperation in tax matters, open up […]

President Nicos Christodoulides and Emir Sheikh Tamim bin Hamad Al Thani at the ceremony to welcome the emir to Cyprus this week

Qatar explores gas, port and Gaza aid deals with Cyprus

Qatar is looking at investing in ports, banking and energy in Cyprus, including expanding its ExxonMobil partnership in oil and gas exploration, the Associated Press news agency reported. Sheikh Tamim bin Hamad Al Thani, the emir of Qatar, visited the Mediterranean country this week and held talks on investment issues with Cypriot president Nikos Christodoulides. […]

Qatar Rwandair

South African Airways denies talks with Qatar Airways

South African Airways has denied it is talking to Qatar Airways about an equity injection, as observers suggest RwandAir is the Qatari carrier’s most likely target. Qatar Airways’ CEO Badr Mohammed Al Meer set rumours racing earlier this month when he revealed that the state-owned airline was “at the final stage of an equity investment” […]

QatarEnergy Brazil Petrobras FPSO

​QatarEnergy to help develop offshore oil project in Brazil

A consortium including the state-backed QatarEnergy has taken the final investment decision to develop the second phase of the Sépia oil and gas field, 200km off the coast of Brazil. The other partners alongside QatarEnergy are TotalEnergies of France, Petronas of Malaysia, the Netherland’s Petrogal Brazil, and Brazil’s Petrobras, the field operator. A contract was signed […]

Photography, Clothing, Glove Qatari origin urea will be supplied to the agricultural sectors of the US and other international markets

Qatar signs 15-year urea supply pact with US company

Qatar, the world’s second-largest exporter of urea, has signed a long-term urea supply agreement with US-based Koch Fertilizer.  The 15-year agreement, starting in July, will lead to the supply of up to 0.74 million tonnes per annum (MTPA) of urea, state-backed QatarEnergy said in a statement. Locally manufactured urea will be supplied to the agricultural […]