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Qatar’s economic growth may rise to 3.8% in 2017

DOHA: Qatar’s economy is forecast to see a rise in growth next year after weathering the impact of low oil prices, according to banking major QNB. QNB Group’s latest Qatar Economic Insight said strong growth would continue to be based on non-hydrocarbon investment spending. The report predicted real GDP growth to accelerate from 3.2 percent in 2016 to 3.8 percent ... Read More »

US approves $8b fighter jet sales to Kuwait, Qatar

DOHA: The United States on Wednesday began notifying lawmakers that it has approved $7 billion in long-stalled sales of Boeing fighter jets to Kuwait and Qatar, and more than $1 billion in Lockheed Martin jets to Bahrain, sources familiar with the decision said. The sales had been pending for more than two years amid concerns raised by Israel, Washington’s closest ... Read More »

Cabinet approves draft decree on common customs tariff for GCC

DOHA: The Cabinet has approved a draft decree on common customs tariff for the Gulf Co-operation Council (GCC) member-states. At its ordinary meeting yesterday, the Cabinet also approved a draft decision by the Prime Minister amending some provisions of Decision No 12 of 2013 on the formation of an e-Government Steering Committee, sources said. The meeting, held at the Emiri ... Read More »

Cooking Oil Market in Qatar may reach USD1,736.1m by 2024: Transparency Market Research

DOHA: According to a new market report published by Transparency Market Research “Cooking Oil Market: GCC and Qatar Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2010–2024”. In terms of revenue, the cooking oil market in the GCC and Qatar was valued at USD 988.2 million in 2015 and is expected to reach USD 1736.1 million by 2024, growing at ... Read More »

Qatar’s Ahli Bank to finalise 3 year loan in region of $180m

DOHA: Qatar’s Ahli Bank is completing a three-year club loan financing expected to be in the region of $180 million, said two banking sources with direct knowledge of the situation. The loan, launched in the market at the end of August, is self-coordinated, said the sources, meaning the fundraising process is arranged by the borrower. The loan documentation is being ... Read More »

Qatari companies to increase investments in Turkey

DOHA: Qatari companies are increasingly investing in Turkey. Qatari investors’ interests in the country include energy, banking and real estate, visiting Turkish Minister of Development Lutfi Elvan said here yesterday. Addressing a joint meeting with Qatari businessmen and their Turkish counterparts, the Minister said the Turkish economy has been witnessing steady growth over the last several years offering great opportunities ... Read More »

Qatar has low oil prices due to strong macroeconomic fundamentals:QNB

DOHA: QNB Group has published its Qatar Economic Insight September 2016 report. The report examines recent developments and the outlook for the Qatari economy as it continues its strong growth based on non-hydrocarbon investment spending. Qatar’s economy has weathered low oil prices due to strong macroeconomic fundamentals including a low fiscal breakeven price, the accumulation of significant savings from the ... Read More »

British gas company Centrica signs £2bn deal with Qatar

DOHA: ritish Gas owner Centrica has extended its multi-billion pound contract to buy gas from Qatar until 2023, as it eyes fresh imports to the UK to replace dwindling North Sea supplies. The new deal, understood to be worth up to £2bn, will see the energy giant buy up to 2m tonnes of liquefied natural gas (LNG) each year from ... Read More »

Qatar’s investments in France touch $22b

DOHA: French Minister of State for Foreign Trade Matthias Fekl has announced that the public and private investments from Qatar in France have touched $22bn. France is currently the second biggest destination of Qatar’s global capital outflow, he said. Addressing the Third Investment Majlis hosted by Qatar Businessmen Association (QBA) here yesterday, the French Minister said a total of 120 ... Read More »

Asian jailed for smuggling cocaine in Qatar

DOHA: An Asian man had no relief in jail term or reduction in fine despite appeal. The Court of Appeals upheld the verdict by the Criminal Court which sentenced him to seven years in prison and a fine of SR200,000 for trying to smuggle heroin via Hamad International Airport. He will also be deported on serving his prison term. The ... Read More »

3 Qatari firms are among top 10 companies in Middle East

DOHA: Three Qatari real estate companies have made it to Forbes Middle East’s inaugural list of the Arab world’s top private real estate developers. The top Qatari firm on the list is 4th ranked Barwa, followed by Ezdan Holding and United Development Company, ranked 5, and United Development Company, ranked 7, reported local Arabic daily Al-Raya. At an event in ... Read More »

Customs foils attempts to smuggle marijuana into Qatar

DOHA: The General Authority of Customs (GAC) has foiled four separate attempts to smuggle a total of 22.6kg of the illicit drug marijuana into Qatar during the past few days. The first attempt was foiled when the customs officer in charge at Hamad International Airport (HIA) doubted the conduct of an Asian traveller. The officer ordered a full search of ... Read More »

Qatar to start Barzan gas project in September

DOHA: Qatar will begin operations at its Barzan gas project in November, two people close to the matter told Reuters on Sunday, as the Gulf state strives to meet rising domestic energy demand as it prepares to host the soccer World Cup in 2022. The $10 billion project, a RasGas-operated joint venture between Qatar Petroleum and Exxon Mobil, was originally ... Read More »

Qatar to impose 35 riyals new airport tax on passengers

DOHA: Qatar’s government will levy a new airport tax on passengers from Tuesday, according to a circular to travel agents, as the country seeks new revenue streams amid falling oil prices. Every passenger leaving Qatar from Doha’s Hamad International Airport, including transit passengers, will be charged 35 riyals (7.10 pounds) for using airport facilities, Qatar Airways advised local travel agents ... Read More »

Qatari company expects to grow market 5% from 2016-21

DOHA: Qatar earth-moving equipment market is expected to grow at a compound annual growth rate (CAGR) of over 5% during 2016-2021, according to a new report. While Qatar is one of the smallest countries in the GCC region in terms of population and geographical area, its infrastructure projects continue to draw investors, who are attracted to a quicker return on ... Read More »

Qatar Investment Authority makes $622m investment in Empire State Realty Trust

DOHA: The Qataris are betting on the Empire State Building. An affiliate of the Qatar Investment Authority bought a 9.9% stake in Empire State Realty Trust, the landlord that owns the 1,250-foot skyscraper, the company said Tuesday. The $622 million investment marks the latest injection of foreign money into New York real estate. While Empire State Realty Trust owns properties ... Read More »

Qatar’s hotel revenue falls 17.8% in April 2016

DOHA: Figures from DTZ’s Q2 Qatar Market Report have revealed that Qatar’s hotel revenues fell by 17.8% over the year until April 2016, with occupancy falling to 64%. In the last year-and-a-half, nearly 5,000 keys were added to the country’s supply, according to sister title Arabian Business. Occupancy fell to 64% in April 2016 compared to 72% in the same ... Read More »

Qatar’s foreign trade surplus rises by 6% in 2Q

DOHA: Qatar’s foreign trade surplus rose 6% quarter-on-quarter (q-o-q) to QR20.56bn in the second quarter (Q2) of 2016 as imports fell faster than exports, according to official figures. Although on year-on-year (y-o-y), trade surplus more than halved from QR43.72bn in Q2 of 2015; Asia remained the largest trading partner, according to the Ministry of Development Planning and Statistics. In Q2 ... Read More »

Five Qatar firms shortlisted for non-banking organizations in GCC

DOHA: Woqod, Al Meera and three other Qatar firms have been named in a new shortlist of most valuable non-banking organizations in the GCC. The rankings were compiled by Marmore MENA Intelligence, which assessed Gulf companies on financial performance factors such as average profit after tax and return on equity. Two-thirds of the companies that made the shortlist came from ... Read More »

Qatar’s economy soars as oil exports decrease

DOHA: Another day, another dollar (rally in oil prices). The tag-team of dollar weakness and production freeze hopes combine again to rally crude prices higher for yet another day. Hark, here are five things to consider in oil markets today: Qatar’s economy is looking none too shabby, despite the the oil price drop of the last two years. It is ... Read More »