Doha, Qatar – The Qatari economy has reported a growth rate of 2.7 percent during the first quarter of 2023 compared to the same period in 2022, according to data released by the country's Planning and Statistics Authority. The quarterly Gross Domestic Product (GDP) estimates at constant prices reached approximately...

DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year 2023 recorded a surplus of US$2.7 billion (QR 10 billion). In its briefing on the actual data of Qatar's budget in the second quarter (Q2) of 2023, the ministry said...

Riyadh, Saudi Arabia - The Gulf Federation for Electronic Sports was established Thursday on the sidelines of the Next World Forum, to support, nurture, and develop Gulf talents through annual tournaments hosted by all countries. The launch was attended by the Chairman of the Board of Directors of the Saudi...

DOHA, QATAR - Qatar Credit Bureau signed a memorandum of understanding (MoU) with the Supreme Judicial Council (SJC) pertaining to sharing credit and judicial data and information. The MoU was signed by CEO of Qatar Credit Bureau Sheikha Maryam bint Khalifa Al-Thani and SJC's Enforcement Department director Judge Nabil Abdullah...

Doha, Qatar--Planning and Statistics Authority (PSA) of Qatar has released the new monthly Producer Price Index (PPI) of the Industrial sector for July 2023 which is estimated at 108.62 points showing a decrease of 0.22 percent, when compared to the previous months June 2023. On Y-o-Y basis, PPI of July...

Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council (GCC) countries fell 19 percent year-on-year (YoY) to SAR 5.51 billion in June, according to a recent report by the General Authority for Statistics (GASTAT). UAE accounted for 65.6 percent, or SAR 3.61 billion, of the total Saudi imports,...

Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.6 billion ($5.38 billion) in July 2023, a decrease of about QR 15.1 billion or 43.5 percent compared to July 2022, and an increase of nearly QR 2.2...

GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth across the region.

The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field with energy giant Qatar and there are 24 platforms on the side of the Islamic republic which has been developing it in the Gulf since the 1990s.

Tehran, Iran -- Iran has expressed its readiness to finalize the provisions of a strategic document on comprehensive cooperation with Oman. In a telephonic conversation, Iranian Foreign Minister Hossein Amirabdollahian and his Omani counterpart Sayyid Badr Albusaidi exchanged views on issues of mutual interest in bilateral, regional and international arenas....

Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion at the end of last week's trade, climbing by 1.2 percent.The fund's weekly report said the market capital of BouKuwait amounted to US$137.5 billion, that of the Abu Dhabi stock...

Nairobi, Kenya--African Civil Aviation Commission (AFCAC) and Qatar have signed a partnership agreement to strengthen cooperation in the aviation field. This came during the activities of the 8th Africa and Indian Ocean (AFI) Aviation Week, organized by the AFCAC in cooperation with the International Civil Aviation Organization (ICAO) in Nairobi,...

Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options.

Doha, Qatar - Ooredoo Group has announced new partnerships with Tech Mahindra and Google Cloud that will see the company accelerate its digital transformation in six operating companies across its global footprint. Powered by Google Clouds API Management Platform (Apigee), with Tech Mahindra as implementation partner, Ooredoo's IT operations will...

Two subsidiaries of the Qatari firm open two branches.

New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently employing more than 3.55 million people from the world's most populous country, India's Minister of State for External Affairs, V Muraleedharan, told parliament. The number of Indians in the UAE...

Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance policies to promptly submit applications to receive the required license from the bank. In a statement on Saturday, QCB outlined that this announcement comes in alignment with financial sector and...

Many fans who had travelled to Doha to support the Atlas Lions last year found themselves deprived of free tickets promised to them by the Moroccan Football Federation. The tickets were sold on the black market at four or five times their face value, according to accounts gathered at the...

As these countries -- including Saudi Arabia, UAE and Qatar -- progress to the next phase of their economic diversification, focusing on renewable energy technologies and cutting-edge manufacturing, Turkiye can emerge as a dependable partner, offering opportunities for technology transfer and joint development, he adds.

Doha, Qatar - The residential property market in Qatar is grappling with a dual challenge of decreased demand and increased supply, a result of the construction boom surrounding the FIFA World Cup 2022, says Knight Frank, a global real estate consultancy, in its latest report. Faisal Durrani, Partner and Head...

Doha, Qatar -- Non-energy private sector companies recorded the second highest growth in 2023 so far, according to the latest Purchasing Managers' Index (PMI) data that indicated a positive start for the second half of 2023. Growth rates for output, new orders, employment and purchasing increased, and the 12-month outlook...

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said. During June, Japan's total crude oil imports were 68.5 million barrels,...

BUENOS AIRES, ARGENTINA- The Argentine government said it will use a loan from Qatar amounting to $775 million to make a payment to the International Monetary Fund as it awaits approval of a disbursement from the IMF for $7.5 billion. The credit operation would allow Qatar to lend Argentina Special Drawing...

The Qatari gas firm's net profit rose to US$213m in H1 of 2023.

LONDON —Strategically important power and water projects controlled by GCC governments or government-related entities (GRE), are benefitting from the support and lower risks, according to the latest report by Fitch Ratings. GCC governments typically play multiple roles in power and water desalination projects, often controlling project companies with minority stakes...

Roni Tohme, the Acting CEO, has been confirmed as the CEO.

Its net profit fell 53.8% in H1 of 2023 to US$0.92m.

The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups.

A jump of 28 percent in net profit vis-a- -vis H1 2022.

The first half 2023 profit of $9.64m was 25% less than that of H1 2022.

The net profit surged to US$493 million in the first half of 2023.

Doha, Qatar--Qatar National Bank (QNB) Group foresees a recession in the US economy during the upcoming 12 months, pointing out that the US economy continues to demonstrate its resilience despite significant headwinds from high inflation, tighter financial conditions, and an uncertain global environment. In its weekly commentary, QNB added that...

Kyiv, Ukraine - Qatar has pledged $100 million for humanitarian assistance in Ukraine. The funds were meant the rehabilitation of health and education infrastructure, provision of drinking water, and humanitarian services, in addition to allocating 50 scholarships, during the school year 2023-2024, to Ukrainian students in Qatari universities. The visiting...

Doha, Qatar -Qatar Airways, British Airways, and Iberia have come together to form a new joint venture In a move to expand international travel options.. The partnership aims to provide seamless connectivity for global travelers through major hubs in Doha, London, and Madrid, covering over 60 countries. With the addition...

Its net profit for H1 of 2023 jumped to US$169 million.

Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms with a range of financial services. In this connection, the two leading institutions of the gas-rich country have signed an agreement to widen the areas of cooperation between both organizations...

Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just last year alone, the country received $29.78 billion in foreign investments, resulting in 13,972 jobs across sectors such as business services, technology, financial services and other industries. Investment Promotion Agency...

When Morocco's women take on two-times former champions Germany in Melbourne they will be the first Arab team to play at a Women's World Cup, months after the men's historic run to the semi-finals in Qatar. The country is still buzzing from what their men did at the Qatar World...

For the wealthy Gulf states, combining their resources with Turkiye's defense and industrial achievements will produce lasting benefits not only in their economic diversification efforts but also in achieving greater strengths in countering security challenges, he adds.

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies.

Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates through a comprehensive monetary policy. Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region.

Kishida and Qatar's Emir Sheikh Tamim bin Hamad Al-Thani discussed "developments related to energy security and supplies," the Qatari leader said in a statement. They will attend a Japan-Qatar meeting that aims to "promote cooperation in energy security and in the field of clean energy and decarbonization," said Japan's foreign ministry.

Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting from the various services of the Qatar's Export Development & Promotion Agency (Tasdeer). In a report, Tasdeer highlighted the momentum witnessed by the participation of small and medium-sized companies in...

The net profit shot up to US$538m in H1 of 2023.

The Arab world is one of the most unequal regions in the world, with top 10 earners controlling more than 56% of national incom

Doha, Qatar - The Consumer Price Index (CPI) in Qatar reached 105.71 points, showing a decrease of 0.10 percent when compared to CPI of May 2023, according to the Planning and Statistics Authority.  Similarly, an increase of 2.49 percent was recorded in the general index (CPI) of this month, when...

Dubai, UAE - Six years after imposing a comprehensive blockade on Qatar, Saudi Arabia, the United Arab Emirates (UAE), and Bahrain have nearly restored ties with the country. However, underlying tensions persist, as changing dynamics in the Middle East drive competing foreign policy priorities. These unresolved issues have the potential...

Dubai, UAE -- Trade volume between Qatar and India increased by about 33 percent during 2021 and 2022, reaching $17.2 billion, Qatar's undersecretary for Commerce Affairs at the Ministry of Commerce and Industry Saleh bin Majed Al Khulaifi said. He said India is Qatar's second-largest trade partner. Al Khulaifi chaired...

QNB set aside $1.3 billion as provision for loan losses.

Dubai, UAE -- Kuwait ranked third and Qatar 22nd on the list -- prepared by the World of Statistics -- of the countries with large millionaire populations. About 15 percent of Kuwaitis were millionaires, after Hong Kong's 15.3 percent and Switzerland, which had the highest number of millionaires (15.5 percent)...