Finance Qatar Financial Centre reports huge rise in registrations Qatar Financial Centre (QFC), an onshore business and financial centre, reported a 230 percent year-on-year surge in new registrations in the first six months of 2024. The financial centre registered 505 new companies during the period, taking the total count to more than 2,200, the state-run Qatar News Agency reported. NewsletterGet the Best of AGBI […] August 19, 2024
Analysis Mining Rare earth elements: a complex issue that’s vital to net zero Used in everything from car batteries and fridges to iPhones and elevators, rare earth elements are an ever-present – but rarely noticed – part of daily lives. They are also now central to the global energy transition, and their importance to Gulf states was highlighted this week by a $180 million investment by Qatar. The […] August 12, 2024
Business of Sport Football continues to attract tourists to Qatar Qatar’s strategy of staging major sporting events continues to reap economic benefits, as regional football tournaments help to attract tourists to the Gulf state. Visitor numbers rose 28 percent in the first half of 2024, benefitting its hotels and wider hospitality businesses. A total of 2.6 million international tourists visited in the first six months […] August 8, 2024
Telecoms Ooredoo H1 profit rises on strong core market growth Ooredoo Group, the Qatari telecommunications company, said net earnings attributable to shareholders rose 4 percent year on year to QR1.9 billion ($512 million) in the first six months of 2024, driven by strong performance in its core markets. Revenue grew 3 percent annually to QR11.8 billion thanks to solid operational performances in Iraq, Algeria, Qatar, Tunisia […] August 1, 2024
Opinion Business of Sport Hosting the Olympics is set to be a marathon for Gulf bidders If Qatar and Saudia Arabia bid for 2036 they face a race against time to train medal-winning talent July 29, 2024
Opinion Aviation Flynas saves the best for last at Farnborough Airshow This year the headline-grabbing deals arrived later than expected July 26, 2024
Analysis Real Estate Canary Wharf’s evolution is a nod to QIA change of strategy The futuristic designs for the former HSBC Holdings headquarters in London’s Canary Wharf may provide a glimpse into the strategy in recent years of one of its major shareholders – the Qatar Investment Authority. Reportedly a casualty of the Covid pandemic and subsequent shift to remote working, 8 Canada Square is to be turned into […] July 26, 2024
Real Estate Large deals drive Qatar and Kuwait real estate in Q2 Large one-off transactions masked an otherwise sluggish performance in the Qatari and Kuwaiti real estate markets in the second quarter of this year. The number of mortgage transactions in Qatar from April to June increased by more than 42 percent over the same period last year. Some 376 deals were signed for a total value […] July 24, 2024
Aviation Qatar Airways expands Boeing 777 order book Qatar Airways ordered 20 new Boeing 777-9 passenger jets at the Farnborough International Airshow this week after announcing record profits in its 27-year history. Additionally, the carrier has committed to 40 new GE9X engines and spare engines, in addition to a long-term services agreement. The total cost of the deal and delivery schedule of the […] July 24, 2024
Opinion Business of Sport Gulf countries vie to add Olympics to the trophy cabinet Qatar and Saudi Arabia are keen to bid despite sky high costs July 22, 2024
Oil & Gas QatarEnergy buys into Suriname oil expansion The state-owned giant QatarEnergy has signed a deal with US oil company Chevron to acquire a 20 percent interest in a production-sharing contract for an offshore concession in the South American country of Suriname. Chevron will keep a 40 percent interest in Surname’s block 5, as will Paradise Oil, an affiliate of Suriname’s national oil […] July 19, 2024
Opinion Markets Regional debt issuance boosts Islamic bond take-up Large Muslim countries have skewed global sukuk markets July 19, 2024
Business of Sport Qatar’s beIN to pay €100m to broadcast French football games Qatar broadcaster beIN has agreed to pay €100 million ($109 million) annually for the rights to broadcast one French Ligue 1 football match per week, according to a news report. The sports channel is paying a premium per game as its package includes the most sought-after fixtures, the Financial Times reported, citing informed sources. NewsletterGet […] July 16, 2024
Banking and Finance 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 […] July 9, 2024
Video length: 08:13 Analysis 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 […] July 3, 2024
Aviation 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 […] July 2, 2024
Economy 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 […] July 2, 2024
Analysis Markets 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 […] July 1, 2024
Oil & Gas 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 […] June 26, 2024
Artificial Intelligence 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, […] June 24, 2024
