Banking & Finance Qatar Investment Authority aims to invest $3bn in Pakistan The Qatar Investment Authority (QIA) aims to invest $3 billion in Pakistan, the Qatari ruler’s office said on Wednesday, lending support to the South Asian nation’s cash-strapped economy. Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8 billion, barely enough for more than […] August 25, 2022
Energy Qatar awards contract for two utility-scale solar power plants Qatar Energy’s wholly owned subsidiary, QatarEnergy Renewable Solutions, has awarded an engineering, procurement and construction (EPC) contract for its industrial cities (IC) solar power project to South Korea’s Samsung C&T, the company said in a statement. The QR 2.3 billion ($632 million) solar project consists of two large-scale photovoltaic (PV) solar power plants with a […] August 24, 2022
Business of Sport 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 […] August 16, 2022
Real Estate 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 […] August 12, 2022
Analysis Employment 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 […] August 11, 2022
Tech 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 […] August 10, 2022
Tourism 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 […] August 4, 2022
Tourism 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 […] July 21, 2022
Tourism Qatar Air chief says home-working ‘epidemic’ fuels travel chaos The head of Qatar Airways has said an “epidemic” of home working has contributed to staff shortages that are being widely blamed for travel disruption in Europe this summer. The aviation sector is struggling to secure the staff needed to cope with a post-pandemic surge in air travel, prompting London Heathrow airport to impose curbs […] July 19, 2022
Tourism 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 […] July 18, 2022
Tech 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 […] July 13, 2022
World Cup 2022 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 […] July 8, 2022
Development 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 […] July 6, 2022
Tourism 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 […] July 6, 2022
Economy 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), […] July 5, 2022
Banking & Finance 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 […] July 4, 2022
Exclusive World Cup 2022 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. […] July 2, 2022
Development 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 […] July 1, 2022
Tourism 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 […] June 29, 2022
Banking & Finance 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 […] June 28, 2022
