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Qatar wealth fund to open New York office to manage its growing portfolio

DOHA: The Qatar Investment Authority, the Gulf Arab state’s acquisitive sovereign wealth fund, is setting up an office in New York to manage its growing portfolio in the United States, according to remarks carried by the state news agency. The fund is one of the most active sovereign investors in the world, snapping up stakes in everything from real estate ... Read More »

Qatar Exchange sets up first investor relations programme

DOHA: Qatar Exchange became the region’s first stock exchange to launch a programme that rewards excellence in Investor Relations. The programme surveys the expert opinion of the domestic and international investment community to identify companies and individuals who display best practice. It also features a detailed ranking of corporate investor relations websites. Qatar Exchange will host a special event in ... Read More »

Qatar foreign trade surplus reduce by 53.7% due to lower gas exports

DOHA: Qatar’s foreign merchandise trade surplus (the difference between total exports and imports) has declined 53.7 percent in March 2015 compared to same period last year. According to preliminary figures released by the Ministry of Development Planning and Statistics, the trade balance of goods showed a surplus of QR19.1bn, a fall of QR16.5bn compared to March 2014. The fall was ... Read More »

QInvest net profit hikes 57% to $7.48m in Q1

DOHA: QInvest, Qatar’s leading investment bank and a prominent Islamic financial institution, yesterday announced 57 percent rise in net profit to $7.48m (QR27.21m) for the first quarter ending March 31, 2015 compared to $4.76m (QR17.32m) in corresponding quarter 2014. Revenue was up 27 percent to $20.70m (QR75.36m) for the first quarter this year, compared to $16.26m (QR59.18m) in same quarter ... Read More »

Qatar’s Ooredoo profit falls 43% to QR501m  

DOHA: Ooredoo reported 43 percent decline in net profit attributable to its shareholders to QR501m for the first quarter ended March 2015 compared to QR887m in the corresponding quarter last year. Group’s profit was impacted by adverse currency movements primarily due to the depreciation of the Algerian Dinar and the Indonesian Rupiah. Group’s revenue remained stable at QR8,037m in the ... Read More »

Qatari Investors Group profits rise 8.8% to QR63m

DOHA: Qatari Investors Group announced its profits for the first quarter of 2015, with an 8.8 percent increase compared to the same period of last year. The company said that it achieved a profit of QR63m, compared to the QR58.6m it made in the first quarter of 2014. The earnings per share for the first quarter of 2015 was QR0.51, ... Read More »

Qatar’s Aamal net profit jumps to QR103m in Q1

DOHA: Aamal Company QSC (Aamal), one of the GCC’s fastest growing diversified companies, disclosed the interim financial statement for the three month period ended March 31, 2015. The company revealed a net profit of QR103m compared with QR82.7m for the corresponding period in 2014. The earnings per share (EPS) amounted to QR0.16 as of March 31, 2015 against QR0.13 of ... Read More »

Qatar GWC net profit hikes 40% to QR40m in Q1

DOHA: Gulf Warehousing Company (GWC) announced a 40 percent jump in first quarter net profit here the other day. The company made a profit of QR40m in the three months to March 31, up from QR28.9m in corresponding quarter last year. This strong push forward was reflected in the company’s revenue streams, with total revenues peaking at QR196m during the ... Read More »

Qatar’s QIMC reports QR39m net profit in Q1

DOHA: Qatar Industrial Manufacturing Company (QIMC) has reported a net profit of QR39m in the first quarter of 2015 (about $10.7m), down by over 15 percent, compared to QR46m (about $12.63m) for the same period in 2014. The net profit is due to the decrease of profits in QIMC subsidiaries and associates as a result of the inclusion of operating ... Read More »

Qatar’ Milaha net profit rises 4% to QR365m in Q1

DOHA: Qatar Navigation (Milaha) posted a 4 percent rise in net profit to QR365m for the quarter ended March 31, 2015 compared to QR349m in the corresponding period of last year. The company’s operating revenues jumped by 12 percent to QR786m in the first quarter of 2015 against QR699m for the same period in 2014. The operating profit stood at ... Read More »

Qatar’s UDC profit up 8% to QR270m in Q1

DOHA: United Development Company (UDC), a Qatari shareholding company and developer of The Pearl-Qatar, announced a net profit of QR270m for the quarter ended March 31, 2015, an increase of 8 percent from same quarter last year. The net profit attributable to owners of the company stood at QR262m as compared to QR241m in the same period of 2014, with ... Read More »

Qatar’s Ezdan Holding Group profit hikes 13.4% to QR522.5m in Q1

DOHA: Ezdan Holding Group announced 13.4 percent rise in its net profit to QR522.5m for the quarter ended March 31, 2015 compared to QR460.7m in the corresponding quarter last year. The results are due to the Group diligence in achieving its objectives to increase the production capacity after the implementation of an array of plans to upgrade and develop its ... Read More »

Qatar’s GIS posts record QR1.2bn revenue in Q1

DOHA: Gulf International Services (GIS) announced its financials for the first quarter ended March 31, 2015 (Q1, 2015) and reported the highest quarterly revenue on record of QR1.2bn, a nearly 100 percent increase compared to about QR600m reported for the same quarter last year. The net profit of GIS for Q1, 2015 closed at QR400m, a significant year-on-year increase of ... Read More »

Qatar’s Malabar Gold plans global expansion

DOHA: Malabar Gold & Diamonds, the leading jewellery retailers, is planning to increase its footprint across the globe. The jewellery retailer is planning new showrooms in the UAE, Bahrain, Oman, Kuwait, Saudi Arabia, Malaysia, China, US and European markets. The group has 131 outlets spread across India, the Middle East and Singapore. “We are planning to spread our wings to ... Read More »

Qatar-US bilateral trade increasing rapidly

DOHA: Qatar-US bilateral trade in goods has jumped five-fold over the last one decade to reach nearly $7bn (about QR25.5bn) in 2014 from $1.4bn (QR5bn) in 2005, said visiting US Undersecretary of Commerce for International Trade here the other day. US exports to Qatar in 2014 stood at $5.17bn while its imports from Qatar remained at $1.66bn, with a trade ... Read More »

Qatar’s Commercial Bank net profit swells by 19.5% to QR462.5m

DOHA: Commercial Bank of Qatar and its subsidiaries and associates announced here the other day a net profit of QR462.5m for the quarter ended March 31, 2015 showing a rise of 19.5 percent against QR387m in the fourth quarter of 2014. At the operating profit before provisions level, profit is up by 4.3 percent to QR551.7m as compared to the ... Read More »

Qatar’s Woqod net profit jumps 3.5% to QR237m in Q1

DOHA: The demand for petroleum products rose 14.7 percent to 1,870 million litres in the first quarter (Q1) of this year over the same period of 2014, Woqod said here the other day while reporting its net profit for the quarter which was QR237m ($65.1m). The net profit grew 3.5 percent over Q1 of 2014 while earning per share (EPS) ... Read More »

Qatar’s Doha Bank posts 5.2% to QR420m profit in Q1

DOHA: Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of Doha Bank, announced the financial results for the first quarter of 2015. Net profit recorded an impressive QR420m as compared to QR399m for the same period in 2014, showing an increase of 5.2 percent. Sheikh Fahad said “This is another outstanding result and is clear demonstration that Doha Bank ... Read More »

Qatar prepares to pass judicial law about customs dept

DOHA: Qatar is preparing to pass a new law that would confer judicial powers on customs officials. The legislation would automatically give all customs officials on duty the power to act immediately against violations. Under current rules, customs officials must be singled out and armed with judicial powers with special permission from the higher-ups on a case-by-case basis. The draft ... Read More »

Qatar IT market ready for fast growth

DOHA: The IT services market of Qatar is changing at a rapid pace. Qatar is expected to lead IT services spending in the region through 2018, according to International Data Corporation (IDC). IDC is the premier global provider of market intelligence and advisory services. According to IDC’s latest forecast, the combined IT services market of some of the countries in ... Read More »