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Qatar Doha Bank inaugurates South Africa representative office

QATAR: The new Marriott Marquis, next to the Convention Center, was built using funds from the EB 5 immigrant investor program the new Marriott Marquis, next to the Convention Center, opens its doors on May 1, in Washington on May 1, 2014… What began as a rarely used path to U.S. citizenship for wealthy foreigners has become big business in ... Read More »

Qatar’s Barwa Bank profit jumps 4% to QR209m in Q1

DOHA:  Barwa Bank’s net profit soared by four percent to reach QR209m for the first quarter of 2015 (Q1, 15), compared to QR201m recorded during the same period in 2014. This robust growth was reflected across the bank’s balance sheet and verticals. The bank’s total assets jumped by 24 percent to QR40.5bn  on year-on-year basis,  underpinned by significant growth in ... Read More »

QE market capitalisation jumps by 1.30% to QR642.35bn

DOHA: Qatar Exchange index gained 235.28 points or 1.98 percent last week when the bourse closed yesterday at 12,133.23 points. Trading value last increased by 54.23 percent. Trading volume increased by 50.81 percent to reach 35,185,230 shares, as against 23,331,223 shares, while the number of transactions rose by 20.77 percent, to reach 17,051 last week as compared to 14,119 transactions ... Read More »

IQ’s net income predicts to drop in 2015

DOHA: Industries Qatar’s (IQ) net income for 2015 is  forecast  for a further fall. IQ’s net income was down from QR8.7bn in 2012/2013 to QR6.3bn in 2014 and we forecast a further fall in 2015,  Investment Bank SICO noted in its company update yesterday. According to SICO’s research note, IQ reported poor 1Q15 numbers with net income of QR951m, which ... Read More »

Qatar’s Ezdan Group wins Forbes’ award

DOHA: Ezdan Holding Group has won Forbes magazine’s   coveted  “best Qatari company for diversified investments” title. At the award ceremony, Forbes announced the list of the most powerful companies of various sectors and industries in the Arab world. Ezdan Holding Group CEO  Ali Al Obaidli  received the award. The event was attended  by a large number of  top company executives ... Read More »

S&P, Moody’s satisfie with perfomance of Qatar industeries

DOHA: International credit rating agency Standard & Poor’s (S&P) Ratings Services affirmed Industries Qatar’s (IQ) long term rating at “AA-“ with a stable outlook, while Moody’s updated its credit opinion on IQ’s rating to “Aa3” with a stable outlook here the other day. IQ, one of the region’s industrial giants with interests in the production of a wide range of ... Read More »

Qatar signs $22.5m deal with Arcadis for metro

DOHA: Arcadis,  the world’s  top natural and built asset design & consultancy firm  announced that it has clinched the €20m ($22.5m) deal  to provide architectural, branding, design and construction consultancy services for the Gold Line metro line in Doha. The appointment follows an earlier involvement on comparable activities on the Red Line South metro line, also in Doha. For the ... Read More »

Woqod inks MoU with QMIC to use Masarak

DOHA: Qatar Fuel (Woqod), who are specialised in distribution and marketing of petroleum and LPG products in Qatar, has announced its latest memorandum of understanding (MoU) signing with Qatar Mobility Innovations Center (QMIC) for its Masarak solution, to manage the fleet logistics and operations for Woqod. Masarak is an intelligent end-to-end solution and suite of services, which was developed locally ... Read More »

Qatar Airways earns $103m profit in 2014

DOHA: The chief executive of Qatar Airways said that the airline made a net profit of $ 103 million in its last financial year, disclosing for the first time a figure for its annual earnings, which are being closely watched by carriers in U.S. The government-owned airline does not publish full audited financial results but has repeatedly said that it ... Read More »

Qatar’s CPI inflation jumps 0.56% in May

DOHA: Save as PDF Add to Reading List Higher education expenses and rents combined with increasing transportation costs led Qatar’s cost of living based on consumer price index (CPI) to rise 0.87% year-on-year (y-o-y) in May this year, according to official figures. The CPI inflation rose 0.56% against the previous month’s levels mainly on costlier higher costs for recreation and ... Read More »

Cadillac sales in Qatar boost by 138%

DOHA: Spurred by increased demand for Cadillac Escalade and ATS Coupe, Mannai Auto Group, official agents for Cadillac in Qatar, have announced more than doubled year-on-year retail consumer sales during January-April this year. “We are especially proud to be one of the biggest growth markets in the region for Cadillac having registered triple digit (167%) growth in the first four ... Read More »

QDB introduces home-based business National Programme

DOHA: In a bid to promote home based businesses, Qatar Development Bank’s (QDB), in collaboration with Ministry of Labour and Social Affairs (MOLSA), Social Development Centre (SDC) and Qatar Chamber, yesterday launched Home-based Business National Programme (HBBNP). “We are very proud to launch such a programme that relies on six principles that are: equality in importance of both home-based and ... Read More »

OPEC revenue falls by 11% to below $1tn since 2010

DOHA: OPEC nations’ revenue from petroleum exports plunged below US$1 trillion last year for the first time since 2010, highlighting how plummeting crude prices have hurt nations reliant on oil sales to fund their economies. The group’s 12 members earned US$993.3 billion last year, a decrease of 11 percent from a year earlier, according to OPEC’s annual report published on ... Read More »

Qatar GDE expenditure on R&D touches QR3.25bn

DOHA: Qatar’s gross domestic expenditure on the country’s research and development (R&D) sector hit QR3.25bn, according to data released by the Ministry of  Development Planning and statistics (MDPS). The expenditure on R&D amounted to 0.47 percent of Qatar’s GDP. The MDPS data shows that gross domestic expenditure on R&D by sector is accounted for 25.8 percent in business sector, 32.3 ... Read More »

Qatar Airways orders 10 Boeing 777-8X jetliners at the Paris air show

DOHA: Qatar Airways ordered 10 Boeing 777-8X jetliners at the Paris air show, bringing its total orders for the 777X family of revamped long-range jets to 60. The airline also said it was ordering four 777 freighters. The orders, which are all firm contracts, are worth a total of $4.8bn (about QR17.5bn) at list prices. Announcing the deal at the ... Read More »

Customs foils 317 bids to smuggle drugs last year

DOHA: Customs authorities foiled 317 bids to smuggle drugs into the country last year, a senior customs official said yesterday. According to him, almost every day at least one smuggling attempt is foiled and is investigated. Ahmed Eisa Al Mohannadi, Deputy Chairman, Customs General Authority, said smuggling bids are foiled in collaboration with law-enforcement agencies. “Our cooperation is close with ... Read More »

Qatar-France bilateral trade expected to increase to QR16.3b in 2015

DOHA: Qatar-France bilateral trade is expected to witness a sharp jump this year to reach over QR16.34bn (euros 4bn), registering a triple-digit growth compared to QR6.1bn (euros1.5bn) in 2014, according to a French Embassy official in Qatar. The jump in bilateral trade volume is attributed to the exports of civil and defence aircraft to Qatar. France and Qatar last month ... Read More »

Qatar Navigation Lines introduces container feeder service between India ,Middle East

DOHA: Short-sea ship operator Qatar Navigation Lines has introduced a dedicated container feeder service between India and the Middle East. The weekly shuttle service is designed to tap into growing transshipment volumes on the route. It connects Nhava Sheva, India’s biggest container handler, with Jebel Ali, United Arab Emirates, and Doha, Qatar. The service is being launched June 4 with ... Read More »

Qatar becomes Mideast’s leading Internet economy: Report

DOHA: Qatar is the Middle East’s leading Internet economy said a new report by The Boston Consulting Group (BCG), a global management consulting firm. The report also found that, globally, the difference between countries with large digital economies and those with low economic activity amounts to about 2.5 percent of GDP – a material figure for any nation. The new ... Read More »

QInvest rewards Best Investment Bank award from Euromoney

DOHA: QInvest, Qatar’s leading investment bank, has been named Best Investment Bank in Qatar at the Euromoney Awards for Excellence 2015. This marks the fourth year in a row that QInvest has received the award, underscoring its leading position in the region. Nasser Al Mahmoud, QInvest’s Managing Director of Strategic Relations and CEO of QInvest Saudi Arabia, collected the award ... Read More »