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Economy in Qatar

  • Chief of largest Middle East bank: Countries that started rift with Qatar have more to lose

    QATAR, 2017/09/16 The Arab nations that have cut ties with Qatar may have additional to lose from the spat compared to the gas-rich national they are targeting, according to the group chief executive of the Middle East's major bank by assets. The blockade, which initial unfolded in June, saw Saudi Arabia, United Arab Emirates, Egypt and Bahrain accusing Qatar of supporting terrorism and allying with regional foe Iran. Qatar denied those claims, but its stock market and currency suffered from the initial shock of the crisis.

  • Blockaded Qatar's economy troubled, but coping

    QATAR, 2017/09/02 Qatar's economy has been hit by the sanctions imposed by a Saudi-led Arab bloc but the emirate's economy is strong enough to survive, analysts say. Since June 5, Saudi Arabia and allies Bahrain, Egypt and the United Arab Emirates shut down air, maritime and land links with Qatar, and imposed economic sanctions, accusing Doha of supporting "terrorists" and of being too close to Iran. Qatar, denying the charges, accuses its Gulf neighbours of seeking to strangle its economy.

  • Finance Qatar Financial institutions support Vision 2030 plan

    QATAR, 2017/08/09 Despite facing challenging times due to low oil prices and economic uncertainty, Qatar’s top financial institutions have not let their vital corporate social responsibility programs suffer As Qatar continues to grow into its role as an international financial hub, leaders at the country’s most significant financial institution in the country say they are bringing a renewed focus to corporate social responsibility (CSR) programs in areas such education, the environment and sustainability, in line with the government’s National Vision 2030.

  • Barcelona may extend Qatar Airways sponsorship to 2020

    QATAR, 2016/09/01 La Liga champions Barcelona and Qatar Airways are in talks to extend their current shirt sponsorship transaction until 2020, the boss of the Gulf carrier said Wednesday. Akbar Al Baker, Qatar Airways' CEO, said the two parties were in fresh negotiations to extend the current one year transaction, which was announced in July, by a further three years.

  • Qatar, A leader in innovation Innovation and entrepreneurial development at heart of diversification drive

    QATAR, 2016/03/14 Increased investment in research capacity and SMEs is seeing the country establish itself as a leader in innovation as well as spearheading its goal of economic diversification Under its strategy to raise its research spending to 2.8 % of its national budget (approximately £1.1 billion), Qatar is currently investing to build a skills base for a next knowledge economy. That is, an economy driven by innovation and entrepreneurialism, and one that is significantly less dependent on its hydrocarbon reserves. However, facing this drive are as well a number of obstacles. Research and innovation efforts are often held back by a small people, inclunding a lack of local capacity and administrative support. According to a UK Foreign & Commonwealth statement, to surmount this Qatar has focused on delivering larger “step-change projects through international institutional partnerships and through the strategic use of a well funded international research fund.”

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.

  • Increase in Qatar's gross domestic product,

    QATAR, 2014/01/03 Increase in Qatar's gross domestic product, adjusted for inflation, accelerated slightly to 6.2 % year-on-year in the third quarter of 2013, from 6.0 % in the second quarter, the Qatar Statistics Authority said. Third-quarter GDP expanded 4.3 % from the previous quarter. Output in the mining and quarrying sector, which includes oil and gas production and accounts for additional than 40 % of GDP, grew 1.8 % from a year before and 3.5 % quarter-on-quarter.

  • President Sepp Blatter

    BRAZIL, 2013/12/01 Ongoing delays at several of the six stadiums still to be completed, coupled with safety concerns sparked by the tragic deaths of two workers at Sao Paulo’s under-construction stadium on Wednesday following a crane collapse, are major worries for FIFA. FIFA released the schedule for the Dec. 4/5 ExCo conference. It will come a day next crunch meetings of the LOC and FIFA’s own organizing committee for the World Cup take place. The troubled national of Brazil’s 2014 World Cup preparations and Qatar 2022 concerns are expected to be the major talking points at next week’s FIFA Executive Committee conference in Salvador de Bahia.

  • Qatar economy still slowing down in 2013

    QATAR, 2013/07/03  Qatar's economy will grow by 5.3% in 2013, according to data released Friday by the country's General Secretariat for Planning and Development. The new estimate confirms the emirate's general economic slowdown, with 2012 GDP dropping to a increase rate of 6.2% from 18% in 2011 in spite of hefty infrastructure investments ahead of the 2022 World Cup in Doha. The silver lining is the double-digit inflation of the boom years has as well dropped. At 3.6% in 2013, it remains under GDP increase and this year's expected 5.2% wage increase, according to Mercer analysts. Qatar is known for having the world's highest per capita GDP, which the IMF says is equal to $100,000 per person, but it may lose this primacy because its people is outgrowing the economy.

  • Qatar Economic Outlook 2012-2013

    QATAR, 2012/12/23 Qatar's volume gross domestic product (GDP) increase is estimate to moderate to 4.5 % in 2013 from a projected increase of 6.2 % in 2012, the government's General Secretariat for Development Planning said in "Qatar Economic Outlook 2012-2013" statement. The estimate for 2012 represents an upward revision from the 5.1 % estimate made in QEO 2011-2012. The revision lies mainly in an overestimation of gas production (specifically condensates) in 2011. A delay in attaining higher gas output last year coupled with a marginal estimate increase in oil production estimates for this year adds 1.7 percentage points to
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