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Qatar implements IMF’s e-GDDS to support data transparency

Qatar has launched a National Summary Data Page (NSDP) in implementing the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS). The e GDDS was established by the IMF’s Executive Board in May 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and surveillance. The NSDP is hosted by the Planning and ... Read More »

UDC records net profit of QR238m in H1

United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl-Qatar and Gewan Islands reported a net profit of QR238m on revenues of QR912m for the first half of 2019. The net profit attributable to the equity shareholders was QR225m and basic earnings per share stood at QR0.063. Turki bin Mohammed Al Khater, UDC ... Read More »

Qatar, US agree major deals

DOHA: The US and Qatar have agreed a raft of contracts worth billions of dollars during a visit to Washington by the Gulf state’s emir, including an $8 billion deal on a petrochemical project. Qatar Petroleum and US energy giant Chevron Phillips Chemical inked the deal to develop a “world class” petrochemical plant in the US Gulf Coast region, Doha’s ... Read More »

QICDRC enhances Qatar’s arbitration sector with international partnership

The Qatar International Court & Dispute Resolution Centre (QICDRC) and the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) signed a Cooperation Agreement that outlines strategic cooperation in the field of investment dispute resolution. As per the agreement, QICDRC and ICSID will be able to conduct all or any part of arbitration proceedings at the seat of their ... Read More »

How economic blockade on Qatar backfired

When a small Gulf nation like Qatar is blockaded by four of its powerful neighbours for two consecutive years by land, sea and air, one would expect a crisis of unparalleled proportions. The blockade began on June 5, 2017, when Saudi Arabia, the United Arab Emirates, Egypt, and Bahrain accused Qatar of sponsoring terrorism. It was Qatar’s independent foreign policy, ... Read More »

Lending start-up SoFi closes $500 million funding round, led by Qatar

Online lending start-up Social Finance just closed a half-a-billion-dollar funding round, led by Qatar. The company, better known as SoFi, plans to use the $500 million cash injection to invest in more growth and strengthen its now $2.3 billion total balance sheet, SoFi said in a press release. SoFi’s valuation will stay roughly the same as its previous $4.3 billion ... Read More »

Qatar Chamber discusses issues of private schools

Qatar Chamber’s (QC) Education Committee held a meeting at the QC headquarters recently to discuss the main obstacles faced by private schools in the country, in addition to the issues related to the Ministry of Administrative Development, Labour and Social Affairs (MADLSA). The meeting was presided over by QC’s First Vice Chairman and Head of QC’s Education Committee Mohamed bin ... Read More »

Metro Bank shores up finances; prepares for tough investor meeting

Metro Bank has raised £375mn ($478mn) to repair its balance sheet, giving the British bank breathing space ahead of a potentially fractious annual meeting tomorrow. The nine-year-old challenger bank’s market value fell more than £1.5bn after disclosing in January it had under-reported the risk of its loan book by nearly £1bn, hitting its capital levels. Shares in the bank jumped ... Read More »

QNB opens new branch in Msheireb Metro Station

Qatar National Bank (QNB), the largest financial institution in the Middle East and Africa, yesterday announced the opening of its new branch in the Msheireb Metro Station, thus being the first bank to open a branch in the new station. The opening of the new branch is testament of QNB’s keenness to provide its customers with easy access to leading ... Read More »

S&P affirms Qatar’s ratings with stable outlook

Noted rating agency S&P Global has affirmed Qatar’s sovereign ratings with a stable outlook, and said that government’s assets will likely remain a core rating strength of the economy. The rating agency, in its report released yesterday, projected that Qatar’s GDP is expected to grow by 2.8 percent and the current account surplus will be averaging 4.5 percent of GDP ... Read More »

US-Qatar Business Council welcomes Qatar’s new Commercial Attaché to US

The US-Qatar Business Council (USQBC) has hosted a reception to welcome Fahad al-Dosari, Qatar’s newly appointed Commercial Attaché to the US. The reception welcomed over 60 members of the business community and was hosted at the recently opened Conrad Hotel near CityCenterDC, which is one of Qatar’s first major investments in the US, totalling over $650mn. Al-Dosari is the first ... Read More »

Greece-Qatar Business Council chairman sees boost in private sector ties

Chairman of Greece-Qatar Business Council Panagiotis Mihalos has said the level of bilateral ties and the attractive investment climate of the two countries pave the way for more co-operation between the private sector. He added, during an interview with Qatar News Agency, that co-operation between the two countries’ private sector is set to improve thanks to the effort made by ... Read More »

Qatar, Israel among 192 countries invited to take part in Expo 2020 Dubai

Expo 2020 Dubai has invited all 192 countries “without exception” to take part in the event next year, including Qatar and Israel, making it the most inclusive and international Expo ever organised, an official spokesperson confirmed. “We have invited all countries in the world without exception, in line with our commitment to making Expo 2020 Dubai a truly international event ... Read More »

QNCC eyeing exports of 3mn tonnes of clinker

Qatar National Cement Company (QNCC) is eyeing to export as much as 3mn tonnes of clinker, especially to Africa, Asia (including India) and Kuwait. The export markets, which also include Yemen and Iraq, come in view of the company recently operationalising its fifth plant that will enhance the daily clinker production by 5,000 tonnes to 11,000 tonnes. “We are looking ... Read More »

Qatar Airways partners with Qadco to support food security in Qatar

Qatar Airways has partnered with Qatarat Agricultural Development Company (Qadco) to supply Qatar Aircraft Catering Company (QACC) with fresh produce to be served onboard Qatar Airways flights from Doha and at Doha Hamad International Airport (HIA) lounges. The two-year agreement between the airline and Qadco, one of the largest vegetable and fruit producers in Qatar, demonstrates Qatar Airways’ commitment to ... Read More »

Qatar Chamber promotes local industries across Russian market

DOHA: Qatar Chamber participated in the 12th edition of the Arab-Russian Business Council and its accompanying exhibition “Arabia Moscow 2019” which was held between April 8-10 in the Russian capital, aiming to promote Qatari products and industries in the Russian market. Qatar-Russia relations have seen significant growth in the recent past couple of years, and Qatari investment in Russia was ... Read More »

‘US import from Qatar surges by 153%’

The Qatar-US trade balance in goods, which is often in favour of the US, was skewed towards Qatar in January 2019. The world’s largest economy reported a rare trade deficit of $143.2m (QR521.46m) against Qatar for the first month of this year, latest official data show. Before January 2019 the US, over a period of the last five years, witnessed ... Read More »

Qatar Airways wins 6 TripAdvisor Travellers’ Choice Airline Awards 2019

Qatar Airways announce that it has been named ‘World’s Top 10 Airline’, ‘World’s Best Business Class’, ‘Middle East Best Major’, ‘Middle East Best Airline’, ‘Middle East Best Business Class’, and ‘Middle East Best Economy Class’ by TripAdvisor Travellers’ Choice Airline Awards 2019. The TripAdvisor Travellers’ Choice Airline Awards are based on millions of honest reviews from passengers all over the ... Read More »

Qatar Airways participates in ‘Moushtarayat 2019’

Qatar Airways has participated in ‘Moushtarayat 2019’, the fourth annual Government Procurement and Contracting Conference and Exhibition, which concluded yesterday. The three-day procurement and contracting exhibition was officially opened on March 31 by the deputy governor of Qatar Central Bank and Qatar Development Bank (QDB) vice chairman, Sheikh Mohamed bin Hamad al-Thani. Qatar Airways group chief executive HE Akbar al-Baker ... Read More »

One million bonus Qmiles to be won with QIB-Qatar Airways co-branded cards

DOHA: Qatar Islamic Bank (QIB) announced an exclusive campaign for QIB-Qatar Airways Visa co-branded cardholders. The campaign will reward 33 cardholders with a chance to win prizes worth one million Qmiles, enabling customers to use their cards to travel around the world. For 30 days starting from 1st of April, all QIB-Qatar Airways Visa cardholders will be eligible to win ... Read More »