Business of Sport Qatar Airways to become Formula One’s main airline sponsor Qatar Airways will become the main airline sponsor of Formula One motor racing, the carrier said, replacing regional rival Emirates as the organisation’s official airline. The sponsorship announcement comes ahead of the 2023 season, which kicks off next month and will also see Qatar begin a 10-year run as host of a Grand Prix, to […] February 23, 2023
UK and Qatar renew commitment to deepen collaboration The UK and Qatar governments have renewed their commitment to deepen collaboration with investments in key sectors including clean technologies, life sciences, biotech, agtech and electric vehicles. Sheikh Mohammed bin Abdulrahman Al-Thani,Qatar’s deputy prime minister and minister of foreign affairs, and James Cleverly, the UK’s foreign secretary, signed a memorandum of understanding on Tuesday to […] February 22, 2023
Business of Sport Qatar sees 341% surge in VC sports and fitness funding Venture capital funding into Qatari sports and fitness startups nearly quadrupled last year as the country’s multibillion dollar hosting of the 2022 World Cup helped swell interest in related industries. In 2022, sports and fitness startups received 15 million riyals ($4.12 million) in funding – up from around 4.4 million riyals a year earlier – […] February 21, 2023
Analysis Business of Sport Qatari bid for Manchester United ‘acid test of post-Brexit Britain’ Qatari investors’ bid to buy Manchester United FC is “an acid test of whether post-Brexit Britain truly is open for global business”, according to a leading sports academic. Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, confirmed on Friday that his consortium had made an offer […] February 20, 2023
Business of Sport Qatari consortium confirms bid for Manchester United Sheikh Jassim bin Hamad bin Jaber Al Thani, the son of a former prime minister of Qatar, has confirmed that his consortium has made a bid to buy Manchester United. “The bid plans to return the club to its former glories,” the consortium said in a statement. “The bid will be completely debt free via […] February 19, 2023
Energy Qatar trade patterns shift as UK fills gas shortfall The trade relationship between the UK and Qatar is being transformed as the Gulf state helps to fill a gap left by a British government ban on Russian gas imports following Vladimir Putin’s war in Ukraine. Latest figures from the UK’s Department for International Trade reveal a 196 percent increase in goods and services to […] February 17, 2023
Energy China’s CNPC set to seal mega Qatari LNG deal China National Petroleum Corporation (CNPC) is close to finalising a deal to buy liquefied natural gas (LNG) from QatarEnergy over nearly 30 years from the Middle Eastern exporter’s massive North Field expansion project, three people with knowledge of the matter said. If sealed, this would be the second such deal between major LNG exporter Qatar […] February 14, 2023
Business of Sport Qatari investors latest to be linked with Manchester United Investors from Qatar could be on the verge of a multi-billion dollar bid for English Premier League club Manchester United, according to newspaper reports. Quoting unnamed sources, the UK’s Daily Mail said the investors were “a group of private, high wealth individuals” from Qatar. It is unclear whether that would refer to Qatar Sports Investments […] February 8, 2023
Energy India’s Petronet seeks more LNG under long-term Qatar deal Petronet LNG, India’s top gas importer, will seek up to one million tonnes per annum (mtpa) in additional liquefied natural gas (LNG) supplies when it renews its long-term deal with Qatar, the company’s chief executive said on Tuesday. “We are seeking an additional 0.75 to 1 mtpa on top of existing 8.5 mtpa contact,” chief […] February 8, 2023
Economy Qatar’s private sector activity slows after World Cup boost Business activity in Qatar’s private sector cooled in January after its World Cup bounce. The first Purchasing Managers’ Index (PMI) survey for 2023 posted a correction to 45.7 in January, from 49.6 in December, as activity and new work slowed following the tournament, which ran from November 20 to December 18 last year. It was […] February 6, 2023
Tourism Qatar Airways and Airbus settle bitter $2bn A350 jet dispute Qatar Airways and Airbus have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 billion row over surface damage on the long-haul […] February 2, 2023
Tourism Airbus and Qatar edge towards agreement in A350 dispute Airbus and Qatar Airways are edging towards an agreement to settle a bitter dispute over grounded A350 jets, two people familiar with the matter said on Tuesday. After months of public feuding, there is no guarantee that an agreement can be reached after previous attempts to avoid a high-profile trial in London this year were […] February 1, 2023
Exclusive Tourism ‘Constantly evolving’ Mena key to Hyatt growth plan, says new VP Hyatt Hotels, the US-based hospitality giant, is placing emphasis on the Middle East and Africa for its global growth strategy. Stuart Deeson, newly appointed vice president of operations for the region at Hyatt, told AGBI that Saudi Arabia in particular was witnessing a “significant point in history”. He also believes Qatar, Kuwait and Morocco offer […] February 1, 2023
Energy Morocco edges closer to free trade deal with Qatar Morocco looks likely to benefit from Qatar’s booming energy revenues as the two countries move closer to a free trade deal, a Mena economist has said. Government ministers concluded a second round of negotiations in Doha on January 22 to 23, building on the opening discussions that took place in Rabat last November. Qatar recorded […] January 31, 2023
Exclusive Business of Sport Alcohol u-turn led to peaceful World Cup, says Fifa security chief Violent clashes between football fans and police, similar to those seen at the Euro 2016 tournament in France, were absent from the Qatar World Cup, and one of the reasons, according to the head of security at organiser Fifa, was the decision to reduce the consumption of alcohol. With two days to go before the […] January 28, 2023
Energy Qatar in talks to acquire stake in TotalEnergies’ $27bn Iraqi project Qatar is in talks to acquire a stake in French company TotalEnergies’ $27 billion energy projects in Iraq, three sources told Reuters, as Baghdad blocks attempts by Western energy companies to pull out of the country. A major investment by a Gulf state would mark a significant victory for Iraqi Prime Minister Mohammad Al-Sudani, who […] January 26, 2023
Banking & Finance Qatari sovereign fund ups stake in Credit Suisse to just under 7% Qatar’s sovereign wealth fund has increased its stake in Credit Suisse to just under seven percent, becoming the Swiss bank’s second-largest shareholder after Saudi National Bank, in a sign that its Gulf investor base is growing in importance. The Qatar Investment Authority (QIA) bought 139.03 million shares in the Swiss lender, Refinitiv data shows based […] January 24, 2023
Aviation Airbus implements A350 design change amid Qatar Airways feud Airbus has carried out design changes to A350 passenger jets amid a $2 billion dispute with Qatar Airways over surface damage, which spilled over to a debate on security on Thursday. The two companies have been fighting in court for months over the safety impact of flaking paint that exposed corrosion or gaps in a […] January 20, 2023
Economy Qatar says QIA gets budget surplus to invest for diversification Qatar has transferred its budget surplus to Qatar Investment Authority for investment as part of its diversification programme, finance minister Ali Al Kuwari told CNN’s Richard Quest at the World Economic Forum at Davos. “We have a very clear and very disciplined fiscal policy framework. This is already approved by the government. And this is […] January 19, 2023
Energy West ‘unfair’ to stop Africa using fossil fuels, says Qatari minister Barring Africa from exploiting its fossil fuel riches is “very, very, very unfair” despite the urgency to cut global greenhouse gas emissions, Qatar’s energy chief has said. Saad Al Kaabi, Qatar’s minister of energy and CEO of state-owned QatarEnergy, told a panel at the Atlantic Council Global Energy Forum that people needed to be realistic […] January 18, 2023
Banking & Finance Qatari bank Dukhan set to list on Doha’s main market Dukhan Bank, Qatar’s fifth-largest bank, is planning to go public and list on the Doha stock exchange. The bank, which has total assets in excess of QR100 billion ($27.5 billion), agreed the proposal at an extraordinary general assembly meeting on Sunday. Its share capital will be listed on the main market of the Qatar Stock Exchange […] January 17, 2023
Energy EU will return to Russian gas, Qatari minister predicts Europe will eventually return to imports of Russian gas but with reduced dependence, Qatar’s energy boss has predicted. The European Union imposed sanctions on Russian oil imports in March last year in response to Moscow’s invasion of Ukraine, pledging to wean itself off Russian energy. The sanctions were intended to limit Russia’s financing ability for […] January 16, 2023
