Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

Qatar opens fifth 2022 World Cup venue

Exterior view of the Al-Thumama Stadium. AFP
  • The 40,000-seat ground will host groups matches during Qatar 2022 up to the quarter-finals
  • It was designed by Qatari architect Ibrahim M. Jaidah to resemble the 'gahfiya' cap, traditionally worn by men in the region

The launch of the Al Thumama stadium, 12 kilometres (7.5 miles) south of the capital Doha, comes as the Gulf country seeks to operate arenas at 100 percent capacity during the World Cup.

The 40,000-seat ground, which will host groups matches during Qatar 2022 up to the quarter-finals, hosted the domestic Emir Cup final between local clubs Al Rayyan and Al Sadd as its inaugural match.

Qatar’s ruler Emir Sheikh Tamim bin Hamad Al-Thani and FIFA president Gianni Infantino attended the opening ceremony.

It was designed by Qatari architect Ibrahim M. Jaidah to resemble the ‘gahfiya’ cap, traditionally worn by men in the region.

Energy-rich Qatar has so far officially inaugurated five of the eight stadiums that will lay the stage for the first World Cup in the Middle East.

In addition to Al Thumama, Qatar has so far inaugurated new-build Ahmad Bin Ali, Al-Janoub and Education City stadiums alongside the refurbished Khalifa ground in the heart of Doha’s Aspire Zone.

Ras Abu Aboud, Al Bayt, Lusail, which will host the final match in December 2022, remain to be opened.

Following the World Cup, Al Thumama’s capacity will be reduced to 20,000, with a sports clinic and a boutique hotel set to open on site.

Fans were able to apply for tickets to Friday’s event if they either tested positive for virus antibodies, or have been fully vaccinated against Covid-19.

Qatar, which says it vaccinated more than three quarters of its 2.75 million population, has recorded more than 238,000 infections since the beginning of the pandemic.

The country has faced criticism for its treatment of migrant workers, many of whom are involved in preparations for the World Cup, with campaigners accusing employers of exploitation and forcing labourers to work in dangerous conditions.

However, Qatari authorities insist they have done more than any country in the region to improve worker welfare and say they have “always been transparent about the health and safety of workers”.