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Qatar’s exports fall by 36.7% to QR21.3bn in Nov

DOHA: The value of Qatar’s total export of goods, including exports of goods of domestic origin and re-exports, stood at QR21.3bn in November, a 36.7 percent decrease on year-on-year and a 5.9 percent on month-on-month decline. On other hand, the imports of goods in November touched QR10.4bn, showing an increase of 2.8 percent over November 2014. However, on a month-on-month ... Read More »

Qatar exchange index grows 3.49% to 345.80 points in past week

DOHA: Qatar Exchange index gained 345.80 points, or 3.49 percent, during the past week when the bourse closed yesterday at 10,258.72 points. Trading value during the week decreased by 25.94 percent to QR956.74m compared to QR1.29bn recorded during the previous week. Trading volume decreased by 11.38 percent to reach 27,951,821 shares, as against 31,542,279 shares, while the number of transactions ... Read More »

Qatar National Bank to acquire Finansbank for $2.95b

DOHA: Qatar National Bank Tuesday agreed to buy a Turkish subsidiary of the National Bank of Greece for $2.95 billion (2.7 billion euros), describing the acquisition as a “milestone” deal. Under the terms of the prospective sale, QNB will buy NBG’s entire stake of 99.8 percent in Finansbank. The deal is subject to regulatory approval. “This transaction is a significant ... Read More »

Qatar’s QNB acquires NBG’s Finansbank for 2.7bn euros

DOHA: Qatar National Bank SAQ , the Gulf region’s largest bank, reached an agreement with National Bank of Greece to acquire the latter’s entire 99.81 percent stake in Turkey’s Finansbank AS for 2.7 billion euros ($2.95 billion), the two banks said on Tuesday. National Bank planned the sale of its Turkish unit to plug a capital shortfall identified in European ... Read More »

Qatar Customs foils attempt to smuggle 12.5 kg of marijuana

DOHA: The customs officers at Hamad International Airport (HIA) foiled attempts to smuggle around 12.5kg of marijuana into the country in two separate operations. In the first operation, the customs officer-in-charge, suspected the luggage of an Asian traveller and ordered a full search resulting in the confiscation of 6.5kg of marijuana. In the second operation, another customs officer suspected the ... Read More »

Qatar Customs seizes 12.5 kg of marijuana at HIA

DOHA: The customs officers at Hamad International Airport (HIA) foiled attempts to smuggle around 12.5kg of marijuana into the country in two separate operations. In the first operation, the customs officer-in-charge, suspected the luggage of an Asian traveller and ordered a full search resulting in the confiscation of 6.5kg of marijuana. In the second operation, another customs officer suspected the ... Read More »

Qatar current account balance expected to remain surplus in 2015

DOHA: Qatar’s current account balance is expected to remain in surplus in 2015, but modest deficits seem likely in 2016 and 2017. The updated Qatar Economic Outlook (QEO) including those showing lower than anticipated production of crude oil and condensates as well as the drop in oil prices suggest that the fiscal surplus in 2015 may contract to 1.7 percent ... Read More »

Qatar food market stands at $1.3bn in 2014

DOHA: Qatar food services market stood at $1.3bn in 2014 whereas the GCC market was valued at $18.8bn. In a report released yesterday Al Masah Capital, predicted a growth rate, for GCC food services market, at Compound Annual Growth Rate (CAGR) of 6.8 percent to reach $24.5bn in 2018. The firm said food services sector continues to expand rapidly on ... Read More »

Qatar economy forecasts to touch 5.1% in 2015-17

DOHA: Qatar’s growth is forecast to average 5.1 percent during 2015-17, boosted by output against the gas sector and public investment. The latter will drive average non-hydrocarbon growth of 9.1 percent year-on-year during the period. Despite lower oil prices, high public investment in the country’s development plan and gas output gains linked to the launch of the Barzan production facility ... Read More »

Qatar’s real estate transactions jump 35.3% to QR4.6bn in Nov

DOHA: Qatar’s real estate value touched QR4.6bn in November, up 35.3 percent, compared to the previous month. On year-on-year basis the transaction value is up 21 percent, Ezdan Holding’s monthly report noted yesterday. According to the Ezdan report, Qatar’s real estate market gained momentum despite drop in oil prices and a 17.1 percent year-on-year decline in real estate stocks listed ... Read More »

Qatar delivers 210,000 cubic metres gas to Poland

DOHA: The first-ever gas carrier from Qatar arrived in Poland yesterday to help the eastern EU member diversify its energy supplies and reduce its dependence on Russia. The Al Nuaman vessel carried 210,000 cubic metres (7.5 million cubic feet) of gas to the northwestern Polish port of Swinoujscie. “For the first time ever, Poland has received a gas delivery from ... Read More »

Qatar’s real GDP growth to remain robust in 2016 despite bumps: Moody’s

DOHA: While lower oil prices will negatively affect Qatar’s government revenues, large financial assets provide a sizeable buffer, says Moody’s Investors Service in report “Government of Qatar”, published yesterday. Although it is unlikely that Qatar will be able to replicate the strong growth performance of 2004-2011, Moody’s forecasts that average real GDP growth will remain robust at around 5 percent ... Read More »

3 Qatar customs officials honoured

DOHA: Three customs officials have been given award for foiling attempts to smuggle into the country a large number of vehicles on forged documents at Abu Samra boarder check post and Hamad International Airport (HIA). A miscreant approached a customs official on duty and offered to bribe him seeking his favour and allow a number of vehicles on forged documents ... Read More »

Qatar exports to UAE reach at QAR4.7b

DOHA: The Gulf Cooperation Council (GCC) ranked third as a destination for Qatari exports and represented 9.4 per cent of the country’s total exports. In addition to that, the GCC received 16.2 per cent of the total imports, shows a report. The quarterly report issued by Qatar’s Ministry of Development Planning and Statistics revealed that the UAE ranked first among ... Read More »

Opec decides against cutting oil output to lift prices

DOHA: The Organization of the Petroleum Exporting Countries (Opec) has decided against cutting its oil output to lift prices, its president and Nigerian Oil Minister Emmanuel Ibe Kachikwu said following a meeting here yesterday. Opec, whose members together pump out more than one third of world oil, is currently producing above its official target of 30 million barrels per day. ... Read More »

Qatar exports rises by 6.7% to $6.21bn in Oct

DOHA: The total value of Qatar’s  monthly exports of goods (including re-exports) in October 2015 stood at QR22.6bn (about $6.21bn), up by 6.7 percent compared to the previous month, preliminary figures released by  the Ministry of Development Planning and Statistics show. When compared to the corresponding month last year, year-on-year (y-o-y)  exports in October 2015 declined by 33.3 percent. On ... Read More »

Omani developer eyes Qatari funding for $2.5bn project

MUSCAT: Leading Omani developer Omagine is in talks with a major Qatari bank to secure funding for the first phase of its ambitious mixed-use tourism and real estate project in Muscat estimated to cost $2.5bn, said a report. The company’s US-based majority shareholder, Omagine Inc, stated in a filing to the US Securities and Exchange Commission (SEC) that it has ... Read More »

Qatar banks asset grow 11.3% in Q3

DOHA: Qatar-based banks witnessed the strongest growth in the GCC in terms of total assets during the third quarter of 2015 (Q3, 15). Total assets of GCC banks, covered by Global Research, expanded 7.9 percent year-on-year to $1.2 trillion in Q3, 15. Qatar-based banks’ combined assets grew 11.3 percent YoY, followed by banks in UAE and Saudi Arabia. Global Research ... Read More »

Qatar’s monthly PPI falls by 3%

DOHA: The overall monthly Producer Price Index (PPI) for September, 2015 was estimated at 55.8 points, showing a decrease of 3 percent compared to the previous month, data released by the Ministry of Development Planning and Statistics show. The fall in the overall PPI index was largely attributed to the decline in the prices of crude and natural gas oil ... Read More »

Mannai Corporation plans to buy 51% Gfi Informatique’s share

DOHA: Mannai Corporation, together with Apax France (jointly with Altamir) and Boussard & Gavaudan, today announced they have entered into exclusive negotiations to purchase a 51% equity and voting rights stake (on a fully diluted basis) in Gfi Informatique at a price of 8.50 euros per share. A press release by Mannai Corporation said the price represents a premium of ... Read More »