SPECIAL REPORT Infrastructure After stops and starts, GCC rail is back on 2030 timetable In the same week that Dubai announced a 30km extension of its metro network, Kuwait revealed that its $20 billion four-line metro project is to be cancelled. If anything sums up the difficulties associated with connecting the GCC countries by rail, then it is this. Kuwait’s metro hit the buffers as a result of “significant […] December 5, 2023
Finance Qatar to sell $644m worth of shares in Barclays Qatar Holding is looking to sell around £510 million ($643.72 million) of shares in Barclays, one of the banks acting on the deal said on Monday, cutting back on its crisis-era investment in the British bank. The deal is set to price at 141 pence per share, or a discount of about 1.4 percent to […] December 5, 2023
Real Estate London’s suburban real estate moves Middle East investors While central London property retains its allure for ultra-high-net-worth individuals from the Gulf Cooperation Council (GCC) countries, cash buyers are flocking to the outskirts of the UK capital to snap up investment properties. A survey of GCC high-net-worth individuals by London-based shariah-compliant lender Al Rayan Bank found that a third of respondents said they had […] November 28, 2023
Energy QatarEnergy wins $570m ruling against Spanish firm QatarEnergy is the un-named company that will receive $570 million from the Spanish power utility Endesa after an arbitration ruling over a liquefied natural gas contract dispute, people familiar with the matter have told Reuters. The Spanish firm said on Monday it would have to pay the sum to an unidentified liquefied natural gas (LNG) […] November 23, 2023
Analysis Business of Sport Tourism up, growth down: a year on from the Qatar World Cup A year ago, the Al Bayt stadium, 35 kilometres outside Doha, hosted the opening game of the first World Cup ever held in the Middle East. More than 67,000 supporters thronged the giant complex to watch Qatar’s first game against Ecuador. The stadium will come into its own again in January when it hosts the […] November 20, 2023
Real Estate Qatar to invest $1.5bn in Egypt’s industrial sector Qatar will invest $1.5 billion in Egypt’s industrial sector in 2024, according to Egyptian commercial service chief Yahya Al-Wathiq Billah. This is the first investment by the Gulf nation in Egypt since signing a bilateral agreement in March 2022, Egypt Today newspaper reported. Billah said that trade volume between the countries increased by 47 percent […] November 16, 2023
DUBAI AIRSHOW Aviation Gulf’s beloved Airbus A380 makes its return to the skies The world’s biggest passenger jet, the double-decker Airbus A380, is back in favour after high operating costs forced many airlines to curtail or cancel its use. The post-pandemic surge in international travel and a shortage of large, fuel-efficient aircraft have combined to reignite demand for the thirsty superjumbo, at least for now. And nowhere are […] November 12, 2023
Oil & Gas Qatar North Field expansion impact to be felt from 2026 Qatar’s economic growth will get a boost from the increase in gas production at the North Field Expansion (NFE) project, but the impact will not be felt until 2026, according to experts. S&P Global Ratings said in a report this week it expects economic activity in Qatar to slow to 2 percent this year. That […] November 10, 2023
EXCLUSIVE Renewable Energy Download our exclusive report on the Gulf’s path to net zero As the world shifts towards cleaner sources of energy, the GCC’s oil and gas-producing nations find themselves faced with the dual threat of environmental and economic crisis. What are they doing about it? In this special report published as the UAE prepares to stage the United Nations’ Cop28 climate change summit, AGBI examines the Gulf’s […] November 8, 2023
Energy QatarEnergy, Sinopec strike 27-year LNG supply deal QatarEnergy, the world’s largest liquefied natural gas (LNG) supplier, has signed agreements with China Petrochemical Corporation (Sinopec) for the expansion of the North Field South (NFS) project and a long-term LNG supply deal. The companies signed a new 27-year LNG supply and purchase agreement to deliver three million tonnes per annum (mtpa) of LNG from […] November 5, 2023
Aviation Qatar Airways profit soars to over $1bn despite headwinds Qatar Airways’ net profit rose 113.8 percent year on year to QAR3.7 billion ($1.02 billion) in the first half of 2023/24 on increased passenger numbers and load factors. Total revenue increased to QAR40.126 billion, up 7.4 percent annually. Passenger revenues accelerated 28.5 percent over the last year, with increased load factors of 83.3 percent, leading […] November 3, 2023
Agriculture Qatar food giant mulls $1.5bn Egypt dairy farming project The largest dairy food producer in Qatar is exploring plans to invest up to $1.5 billion in a farming project in Egypt. Baladna, which is listed on the Qatar Stock Exchange, and the Suez Canal Authority have signed a memorandum of cooperation for the proposed development in Egypt’s south-west region. The farm would have 20,000 […] October 31, 2023
Oil & Gas Indian gas importer seeks no additional Qatar LNG India’s top gas importer Petronet LNG is not seeking additional volumes when it renews its long-term liquefied natural gas (LNG) deal with Qatar, its head of finance VK Mishra said on Monday on an analyst call. Petronet has a 7.5-million metric tonne per annum (mtpa) long-term LNG import deal with Qatar and its promoters Indian […] October 31, 2023
Opinion Aviation King of the skies: A tribute to Akbar Al Baker The Qatar Airways boss has led with obsessive attention to detail and high expectations October 27, 2023
Oil & Gas QatarEnergy signs LNG supply deal with Italy’s Eni QatarEnergy has signed a long-term LNG supply contract with Italian energy company Eni to support Europe’s energy security. Affiliates of the state-owned Qatari gas major and Eni signed a 27-year deal to supply up to one million tonnes of LNG per annum. The LNG will be delivered to FSRU Italia, a floating storage and regasification […] October 24, 2023
Transport Qatar Airways CEO to step down after 27 years After nearly three decades at the helm of Qatar Airways, Akbar Al Baker is stepping down from his position as group chief executive officer effective November 5, 2023. Badr Mohammed Al-Meer will succeed him as group CEO for the Gulf state’s national airline, Qatar Airways confirmed in a statement. The development comes after Qatari Emir […] October 24, 2023
Energy QatarEnergy to supply LNG to Netherlands for 27 years A 27-year LNG supply deal has been signed between state-owned QatarEnergy and London-based Shell to bolster Europe’s energy security. Affiliates of QatarEnergy and Shell signed two long-term LNG supply agreements for up to 3.5 million tonnes per annum (mtpa) of LNG from Qatar to the Netherlands. The LNG will be delivered to the Gate LNG […] October 19, 2023
Oil & Gas Japan’s Mitsui looks at buying stake in Qatar’s LNG project Japanese trading house Mitsui & Co is considering buying a stake in the North Field liquefied natural gas (LNG) expansion project in Qatar as a way to ensure a stable supply of LNG, a Mitsui spokesperson said. “We have always said that we would consider investing in any quality LNG projects, and the North Field […] October 19, 2023
Leisure & Hospitality Manchester United tumbles on Ratcliffe’s stake bid Shares of Manchester United fell as much as 23 percent on Monday after reports that British billionaire Jim Ratcliffe is looking to acquire only a 25 percent stake in the football club raised concerns that a buyout by Qatar’s Sheikh Jassim bin Hamad al Thani could be off the table. The shares were last down […] October 17, 2023
Business of Sport Qatari sheikh withdraws bid to buy Manchester United Qatar’s Sheikh Jassim bin Hamad Al Thani has withdrawn his interest in buying UK football club Manchester United, according to media reports. Sheikh Jassim, the son of a former prime minister of Qatar, had bid £5 billion ($6.06 billion) for the club, but further talks this week have broken down, BBC Sport reported. Reuters sources said that […] October 15, 2023
Energy QatarEnergy and Total strike 27-year LNG supply deal State-owned QatarEnergy has signed two long-term agreements with France’s TotalEnergies for the supply of up to 3.5 million tonnes per annum (MTPA) of liquefied natural gas (LNG). The LNG will be delivered to the Fos Cavaou LNG terminal in southern France, with deliveries expected to start in 2026 for 27 years, the Qatari energy firm […] October 13, 2023
Analysis Finance Qatar makes belated entry into crypto tokens market Qatar’s financial regulators have proposed a new digital assets framework which seeks to regulate investment tokens. In contrast to its Gulf neighbours like the UAE and Bahrain, which have opened their doors to global cryptocurrency exchanges, Qatar has maintained a ban on trading. But legal insiders say Qatar’s delayed entry into the virtual assets arena […] October 12, 2023
