Banking and 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 and 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
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 […] June 24, 2022
Markets 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 […] June 23, 2022
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 […] June 22, 2022
Retail 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 […] June 21, 2022
Exclusive World Cup 2022 Most lavish World Cup package costs $1.6m – hotel not included UAE residents have bought 7,500 hospitality packages for the Qatar World Cup, with the most expensive option costing an eyewatering $1.6 million. Football fans wanting to attend Qatar 2022 matches have two routes: FIFA's ticket lottery, where prices start at 40 riyals ($10.99) for Qatar residents or 250 riyals for international supporters, or one of the official hospitality packages, which begin at $950. June 21, 2022
Tourism Airlines upbeat on recovery but labour shortages may hurt growth Global airlines battered by COVID-19 seem confident of narrowing their losses but still face challenges such as labour shortages at airports which could restrict post-crisis growth, industry executives at a summit in Doha said. Recent flight delays and cancellations have been widely blamed on a lack of staff as an increasing number of people desert […] June 21, 2022
Tourism Airbus in talks with Qatar Airways ahead of $1bn legal battle Airbus is in discussions with Qatar Airways to try to resolve a bitter legal and safety dispute over the A350 passenger jet, the planemaker’s chief executive said on Sunday. “There’s progress in the sense that we are communicating; we are working with each other,” Guillaume Faury told Reuters on the sidelines of an airlines meeting […] June 20, 2022
Tourism Qatar Airways posts first annual profit since 2017 Qatar Airways today posted its first annual profit since 2017 following years of losses blamed on a regional political dispute and the pandemic. The airline, which only operates international flights, said it made a profit of 5.6 billion riyal ($1.5 billion) in the year to March 31, compared to a year ago loss of 14.8 […] June 16, 2022
Tourism Qatar to pitch up 1,000 ‘Bedouin tents’ for World Cup fans Qatar plans to pitch 1,000 “Bedouin style” tents in the desert for World Cup soccer fans, organisers said on Tuesday, as the state hopes to attract 1.2 million visitors, nearly half of its population, for the 28-day tournament in November and December. Tents will spring up on the stark desert landscapes surrounding Doha, to offer […] June 15, 2022
Tourism EU regulator dismisses Qatar Airways Airbus paint safety claims Europe’s top aviation safety regulator said on Tuesday he had seen no evidence that paint or surface erosion on A350 jets, which are at the centre of a legal dispute between Airbus and Qatar Airways, represented a safety issue. The two companies are at loggerheads over the airworthiness of Europe’s newest long-haul jet after damage […] June 15, 2022
Aviation World Cup, Russians and business travel help airlines rebound Middle Eastern airlines reported a 265 percent year-on-year increase in demand in April, according to the latest monthly data from the International Air Transport Association (IATA). Industry analysts also reported that while demand in the region is still operating at around two-thirds what it was pre-pandemic, the upcoming FIFA World Cup in Qatar, Russian tourists […] June 10, 2022
World Cup 2022 Businesses vying to get on the teamsheet Regional and international businesses are jostling to win work in the final months before the World Cup June 9, 2022
World Cup 2022 Qatar is an open goal for property investors Rents are rising and real estate is flooding the market, but measures are being taken to curb oversupply after the World Cup final June 9, 2022
Insight Business of Sport Qatar 2022: A smart investment or a $200bn folly? Doha is banking on long-term economic gains from the World Cup to offset the negative attention it has received since it won the hosting rights When Qatar won the right to stage the 2022 FIFA World Cup in 2010 it shocked much of the footballing world. By beating Australia, South Korea, Japan and the US, the […] June 9, 2022
Banking and Finance Julius Baer hires Doha Bank exec to lead Qatar expansion Swiss wealth manager Julius Baer has hired the former head of private banking at Doha Bank, Slim Bouker, to lead an expansion in Doha, where it plans to open an advisory office at the Qatar Financial Centre, it said on Tuesday. Julius Baer will open its Doha office once regulatory approvals are complete and Bouker […] June 8, 2022
