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Qatar’s Nebras-supported solar power plant in Jordan to be operational in 2016

DOHA: Qatar’s Nebras-supported solar power plant project in Jordan will be fully operational in 2016. Nebras Power with its partners Diamond Generating Europe and Kawar Group held a ground breaking ceremony in Amman Jordan on Monday 8 June for its Shams Ma’an Solar power plant project with capacity of 52.5MW. Nebras Power, the Qatari shareholding company, owns 35 percent of ... Read More »

Qatar economic growth to remain strong at 6.5% over next 2 years: Report

DOHA: Underpinned by government spending on the country’s $210 billion development plan, the non-hydrocarbon sector will continue to be the driver of economic growth in Qatar. Fiscal and current account surpluses are expected to narrow over the next two years owing to the dramatic decline in oil prices. The pace of accumulation of net external assets is therefore expected to ... Read More »

GOIC announces to hold training workshop on statistical analysis

DOHA: The Gulf Organization for Industrial Consulting (GOIC) has announced to hold a training workshop on statistical analysis using the popular Statistical Package for Social Sciences (SPSS) software at its headquarters in Doha from June seven to 11, 2015. The aim of this training is to introduce SPSS and train participants on using this software and benefiting from its features ... Read More »

Qatar Cool receives two HR awards

DOHA: Qatar District Cooling Company (Qatar Cool) was announced the winner of the “HR Team of the Year Award”  and the “Excellence in Learning and Development Award” during the 2015 Mena HR Excellence Awards Ceremony, held at the Sofitel-the Palm in Dubai. The awards ceremony was part of the 2015 Mena Human Assets Expansion Summit, which celebrates leading employers and ... Read More »

Qatar finds oil market more balanced in second half

DOHA: Qatar’s Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada (centre), Saudi Arabian Oil Minister Ali Ibrahim Al Nuaimi (right), and Opec Secretary-General Abdullah Al Badri attend a seminar ahead of an Opec meeting in Vienna, Austria here the other day. Vienna: The global oil market should be “more balanced” in the second half of ... Read More »

Vodafone Qatar’s revenue swells by 16% to QR2.31bn

DOHA: Vodafone Qatar reported revenue of QR2.31bn for the full-year 2015, up 16 percent compared to the same period in 2014. The company’s mobile customer growth grew by nine percent to 1.44 million during the period. The EBITDA margin stood stable at 25 percent with the EBITDA for the full financial year of QR566m, a 14 percent improvement over last ... Read More »

Qatar spends $32m for reconstruction projects in Gaza

DOHA: Qatari committee tasked with overseeing reconstruction of the war-battered Gaza Strip launched projects worth $32 million. We announce today the inauguration of many new projects of the Qatari grant with a $32 million value beside the established and ongoing projects with a $180 million value,” Mohamed al-Amadi, chief of the committee, said during a signing ceremony for the projects. ... Read More »

Barwa Bank board approves 10% dividend to shareholders

DOHA: Barwa Bank, in its annual general meeting , approved a cash dividend of 10 percent to shareholders for the fiscal year ending on 31 December 2014. During the AGM, shareholders signed off the development and registration of an EMTN (Euro Medium Term Note) program to facilitate the issuance of non-convertible Senior Unsecured Sukuk, with a cap standing at $2 ... Read More »

Qatar expects $21b infrastructure projects in 2015

DOHA: Qatar’s focus on infrastructure development will continue as per the country’s original plans. An estimated $21bn worth infrastructure projects are expected to be awarded in 2015 itself. In Qatar, the two largest projects in pre-execution phase and expected to be awarded in 2015. They are from QRail, namely the “QIRP: Passenger & Freight Rail”, budgeted at $15bn, and from ... Read More »

Qatar imports jump 28.4% to QR1.2b last month

DOHA: Motor cars and other passenger vehicles worth QR1.2bn were imported in Qatar in April, a 28.4% jump year-on-year, according to the Ministry of Development Planning & Statistics. Official data yesterday showed motor cars and other passenger vehicles topped the list of imported items in Qatar in April. The next major item on Qatar’s import list was aircraft and helicopter ... Read More »

Tourism touches 4% of Qatar economy

DOHA: The tourism sector’s contribution to Qatari GDP touched QR28bn in 2014. Total number of tourists visited Qatar during the year reached 2.82million; Al Sharq reported citing data released by Qatar Tourism Authority (QTA). Tourists from the GCC region accounted for the maximum number, with an estimated 40 percent of the total visitors. A total of 1.12 million tourists or ... Read More »

World Cup bid probe will not affect property market of Qatar

DOHA: Qatar’s property market is unlikely to be shaken by the sudden news of an investigation into the voting process behind the small Gulf state’s winning 2022 World Cup bid, analysts told here the other day. News of the joint U.S.-led investigation, launched after Swiss police raided a luxury hotel at dawn on Wednesday and arrested several top FIFA executives, ... Read More »

Qatar market open to foreign investors for investment, economic activities

DOHA: H E Sheikh Ahmed bin Jassim bin Al Thani,  Minister of Economy and Commerce stated  yesterday that Qatar is an open market and the country’s  market is open to  investors of all  areas of economic activities and investments. Launching the Qatar-UAE Economic Forum jointly with his UAE counterpart Eng Sultan bin Saeed Al Mansoori, Sheikh Ahmed said that Qatar ... Read More »

Singapore business delegation in Qatar’s business forum to promote trade relations

DOHA: Doha Bank, in collaboration with the Singapore Business Federation (SBF) and International Enterprise Singapore (IES), hosted a business forum at its headquarters in West Bay to promote trade and investment relations between Qatar and Singapore and encourage stronger bilateral cooperation across key economic sectors. The forum was organised in conjunction with a visit from an SBF business delegation. The ... Read More »

Qatar’s Nebras Power inks MoU for an energy project in Senegal

DOHA: The Qatar-based Nebras Power has signed a Memorandum of Understanding (MoU) with the National Electricity Company of Senegal and Mitsui Company from Japan for studying an energy related project in the Republic of Senegal. The signing ceremony was held at the Ministry of Foreign Affairs in Dakar and in the presence of Senegalese Minister of Foreign Affairs, Minister of ... Read More »

Qatar trade surplus drops 50% to QR52.8bn  in Q1

DOHA: Qatar’s trade surplus tumbled 50 percent in first quarter of 2015 (Q1, 2015) from a year ago, weighed down by lower value of energy exports. The country’s trade balance surplus fell to QR52.8bn from QR106.2bn recorded in Q1, 2014. In Q1, 2015, the value of Qatar’s total exports amounted to QR82.1bn, down 38 percent compared to total export value ... Read More »

Qatar banks loan book fall 0.5%, deposits drop 0.2% MoM in April

DOHA: Qatar banks’ loan book decreased by 0.5 percent and deposits dipped by 0.2 percent on month-on-month (MoM) in April, 2015. Public sector pulled down total credit growth with a decline of 4.7 percent MoM, down 5.9 percent year-to-date (YTD). Public sector deposits receded by 4.8 percent, down 4.5 percent YTD, QNB Financial Services (QNBFS) monthly banking sector update noted ... Read More »

Qatar Airways ready to launch new A350 services on Munich route

DOHA: Qatar Airways has announced the expansion of its A350 services to Germany, with the aircraft being deployed on its Doha-Munich route. Commencing October 1, the Doha-based airline will launch the A350 XWB to Munich alongside its existing Boeing 787 Dreamliner service on one of the two double-daily flights to Munich. A month later, the second daily flight to Munich ... Read More »

Nissan sales in GCC jumps 18.1% to 185,135 units in 2014

DOHA: Nissan maintained its status as the fastest-growing automotive brand in the GCC for the third consecutive year, selling a record breaking 219,129 units in the 2014 financial year — up 3.3 percent in 2013. In addition, Nissan achieved the best ever customer satisfaction results through top-level quality customer service. In the GCC, Nissan recorded an 18.1 percent sales increase ... Read More »

Qatar banks foreign credit hike to 60% in Q1

DOHA: Qatar banks’ foreign credit surged to a huge 60 percent in the first quarter of 2015 compared to the same period in 2014. The banks’ credit to outside Qatar jumped to QR72bn from QR45bn a year ago. Domestic credit jumped nearly 10 percent to QR599bn in the first quarter on year-on-year basis, according to Qatar Central Bank’s (QCB) preliminary ... Read More »