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Enhance cooperation: Qatar, Japan sign deals

DOHA: A cooperation deal in the field of information technology and communications was signed by the Ministry of Communication and Information Technology and Japan’s Ministry of Internal Affairs and Communications. Another agreement in the field of defence was signed by the defence ministries of both sides. The Supreme Council of Health signed a deal with Japan’s Ministry of Health, Labour ... Read More »

Qatar to spent $12.5bn on housing until 2022

DOHA: An astronomical $12.5bn is to be spent to create adequate housing stocks in Qatar to cater to the growing population ahead of  2022 Fifa World Cup. The sum (QR45.52bn), to be spent over the next seven years, will also cover the basic infrastructure needed to create and support the massive housing stocks. This was announced by the Minister of ... Read More »

Qatar’s investment in US jumps to $35 billion

DOHA: Investment opportunities are abound in the US for Qataris in various sectors. Citing recent announcements by top government officials, experts yesterday noted US is expected to attract an estimated over $35 billion worth of investments form Qatar over the next five years. Attending an economic forum hosted by the American Chamber of Commerce Qatar (AmCham Qatar) here the other ... Read More »

Qatar delegation takes part in Arab Economic and Social Council meeting

DOHA: Qatar participated in the meetings of the 95th Ordinary Session of the Economic and Social Council of the Arab League, which concluded at the Arab League headquarters in Cairo here the other day. The Qatari delegation was headed by Sultan bin Rashid Al Khater, Undersecretary at the Ministry of Economy and Commerce. The meeting discussed draft decisions prepared by ... Read More »

GCC portal for common services to launch next month

DOHA:  The Executive Committee for e-Government of GCC will launch a portal for common services of member countries and set up a link to connect them by next month. An initial list of services to be included in the portal and latest developments on the link were discussed in a meeting in Doha here the other day. The project aims ... Read More »

Qatar, Dubai foil attempt to smuggle 26kg hashish, clutch 3 smugglers

DOHA: The Dubai Police recently arrested three suspects and foiled an attempt to smuggle drugs, including 26kg of hashish, to Qatar. Cooperation between police teams from the two countries helped in capturing the men and the seizure of the contraband. The consignment was smuggled from an Asian country and hidden in a speed boat. The three suspects were caught in ... Read More »

Net profit of Qatar’s Damaan Islamic Insurance touches QR40m in 2014

DOHA: The net profit of the shareholders of Damaan Islamic Insurance’s (Beema) touched QR40m for the full-year 2014, up from QR30m recorded a year ago. The financial results were announced after the company’s annual general meeting held here the other day. The meeting was chaired by Abdullatif Abdulla Zaid Al Mahmoud, the Deputy Chairman of the company. Addressing the meeting, ... Read More »

$121b trade volume: Massive trade growth recorded among GCC Customs union countries

DOHA: There has been a massive growth in intra-GCC trade since the first phase of the regional customs union was introduced in January 2003. The volume of trade within the GCC states was a high of $121bn in 2013, from a mere $15bn in 2002 before the launch of the customs union. Further growth in the trade volume is expected ... Read More »

Counterfeit goods, drugs among most seized items by Qatar Customs

DOHA: Most prohibited goods people try to push into Qatar come through air and not land, senior customs officials said here the other day. And among the most seized goods are banned items like drugs and counterfeit goods, gold and gold jewellery on which importers must pay duty. Sometimes air passengers bring along narcotic pills and banned drugs as innocent carriers, ... Read More »

Qatar’s QIC to raise capital up to QR1.85b from QR1.6b

DOHA: The annual general meeting (AGM) of Qatar Insurance Company (QIC) approved the board of directors’ recommendation to raise the company’s capital to QR1.85bn from QR1.6bn. The AGM also gave its nod to the recommended distribution of cash dividends of 25 percent of the share par value and bonus shares of 15 percent of the share capital, i.e. 3 shares ... Read More »

Qatar’s Tasweeq signs 8th LPG term deal with Astomos

DOHA: Qatar International Petroleum Marketing Company Ltd (Tasweeq) has entered into another year of term contract with Astomos Energy Corporation (Astomos) for the sale and purchase of Qatar’s Liquefied Petroleum Gas (LPG). This would to be the 8th LPG term deal between the two companies. Astomos is the largest LPG-specialised player in the world and has 25 percent domestic market ... Read More »

Qatari households’ assets touch $153b-$172b range in 2014

DOHA: Qatari households’ estimated net investable assets touched $153bn-$172bn range in 2014. As segment distribution of the assets shows the ultra high- net worth individual households together hold $68bn-$72bn in total. The high net worth individual households’ assets range between $65bn and $75bn. The combined assets of lower tier “Affluent” households are something between $20bn and $25bn. The investable assets ... Read More »

Qatar Airport Customs seizes illicit 3kg marijuana

DOHA: Qatar Airport Customs has seized an amount of marijuana weighing approximately 3 kg here the other day. The drug was hidden in a stealth way inside a box among luggage of an Asian passenger. A Customs officer suspected the behavior of a passenger on board coming from a direct flight from an Asian country at the baggage screening devices. ... Read More »

National Vision 2030: Qatar, Japan review technologies to achieve sustainable development goal

DOHA: Qatar senior government officials and leading businesses, including representatives from several prominent Japanese companies discussed Japanese technologies to help Qatar achieve the goal of sustainable development and other targets in line with the National Vision 2030, said a statement here the other day. The technology conference, hosted by Doha Bank, was presided over by Shingo Tsuda, Japanese Ambassador to ... Read More »

Qatar Customs seizes 9,000 alcohol bottles worth QR1.350 million

DOHA: Qatar Sea Customs foiled the smuggling bid of a large number of alcohol bottles tried to be entered to the country in furtiveness way by smugglers inside wooden planks through Doha Port, which reached to 9 thousand bottles of customs value QR1.350 million. Ahmed Youssef Al Sahl, Director of Sea Customs, said that smuggling operation was foiled in cooperation ... Read More »

Qatar Customs foils smuggling attempt of 1.5 kg opium

DOHA: Qatar Air Cargo Customs foiled a smuggling bid of 1.5 kg of narcotic opium substance possessed by a passenger coming on a flight from an Asian country here the other day. Seizure was conducted with the help of the Tracing Division in MOI. By examining and inspecting of the suspected bag, it was found foreign objects of material wrapped with ... Read More »

Qatar’s Commercial Bank profit jumps by 20.9% to QR1.9b in 2014

DOHA: The Commercial Bank of Qatar QSC delivered a net profit of QR1.9bn for 2014, a 20.9 percent increase in profitability compared to 2013. On a quarterly basis, Commercial Bank generated a net profit of QR387m in the fourth quarter of 2014, an increase of 29 percent compared to fourth quarter 2013. The Board of Directors recommended a combination of ... Read More »

Qatar Fuel Company launches recovery plant to reuse 500 tonnes CO2 per day

DOHA: Qatar Fuel Additives Company (QAFAC) officially announced the launch of its carbon dioxide (CO2) recovery plant here the other day. Once operational, the facility will capture and reuse 500 tonnes of CO2 per day, which is equivalent to the CO2 emitted by 32 million cars per year. Designed to dramatically decrease CO2 emissions in the atmosphere, the world-class plant ... Read More »

Qatar to invest $7.4b on mega ports projects to sustain development by 2030

DOHA: Qatar has a vision that by 2030, it aims to be able to sustain its development and provide a high standard of living for its growing population. To do this, vital infrastructure projects are underway, some of which have been fast-tracked since it won the bid to host the FIFA World Cup in 2022. As a result, construction is ... Read More »

Qatar’s International Islamic profit grows by 10.1% to QR826m in 2014

DOHA:  International Islamic (QIIB) recorded a full-year net profit of QR826m for 2014, up 10.1 percent from a year ago. The Islamic lender’s total revenue stood at QR1.52bn during the period. The Board of Directors has proposed to distribute a cash dividend of 40 percent of the bank’s capital (QR4 per share) to shareholders subject to the approval of the ... Read More »