Transport 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. […] April 23, 2024
Trade 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 […] April 22, 2024
Analysis Infrastructure 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 […] April 17, 2024
Trade 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 […] April 16, 2024
Opinion Oil & Gas Qatar’s role as LNG colossus will grow with North Field Geopolitics, high oil price and LNG demand are upsides for Qatar April 9, 2024
Banking & Finance 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, […] April 9, 2024
Tourism 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 […] April 2, 2024
Economy 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 […] March 27, 2024
Aviation 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 […] March 27, 2024
Video length: 06:07 VIDEO Giga-projects 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 […] March 27, 2024
Analysis Markets 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 […] March 21, 2024
Economy 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 […] March 21, 2024
Banking & Finance 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 […] March 8, 2024
Industry 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. […] March 7, 2024
Aviation 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 […] March 6, 2024
Banking & Finance 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, […] February 28, 2024
Infrastructure 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 […] February 27, 2024
Tech 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 […] February 27, 2024
Energy 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 […] February 26, 2024
Oil & Gas 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 […] February 20, 2024
Finance 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 […] February 13, 2024
Analysis Trade $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 […] February 12, 2024
