IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.

Qatar third Gulf country to become major non-NATO ally of US

Qatar's Emir Sheikh Tamim bin Hamad al-Thani and US President Joe Biden. AFP
  • The move gives Qatar special economic and military privileges in its relationship with the US.
  • The US and Qatar have had close relations for years, collaborating on a number of issues, including the evacuation of Afghan refugees after Taliban takeover.

Qatar became the third country in the Gulf region after Kuwait and Bahrain to be designated by the United States a major non-NATO ally.

A declaration issued by US President Joe Biden on Thursday afternoon formally designated Qatar as a non-NATO ally, weeks after a pledge he made to Qatari Emir Sheikh Tamim bin Hamad Al Thani at the White House in late January.

Biden said at that time that designating Qatar a major non-NATO ally of the US aimed “to reflect the importance of our relationship; I think it’s long overdue”.

The move gives Qatar special economic and military privileges in its relationship with the US.

The US State Department says on its website that the designation “is a powerful symbol of the close relationship the United States shares with those countries and demonstrates our deep respect for the friendship for the countries to which it is extended”.

The US and Qatar have had close relations for years, collaborating on a number of issues, including the evacuation of Afghan refugees following the Taliban’s takeover of the country in August.

Thursday’s declaration comes amid global concern over energy supplies and surging fuel prices caused by Russia’s ongoing invasion of Ukraine.

Qatar is the largest producer of Liquefied Natural Gas and many countries hope that a sizable part of the disrupted supplies from Russia could be sourced from the gulf nation.