For full coverage of Middle East business, see MEED Fitch Ratings today affirmed Qatar’s leading telecom company Ooredoo’s long-term issuer default rating (IDR) at A+ with a stable outlook. The rating affirmation reflects the continued strength of Ooredoo’s links with…
Category: Qatar
QNB’s Finansbank deal gets thumbs-up
For full coverage of Middle East business, see MEED Moody’s Investors Service said in a report yesterday that Qatar National Bank’s (QNB’s) planned acquisition of Turkish lender Finansbank AS offers advantages for the group, but the acquisition will expose the…
Qatar launches $9bn Eurobond
For full coverage of Middle East business, see MEED Qatar is selling a triple-tranche Eurobond issue with maturities of five, 10 and 30 years, Bloomberg reported today. In total, it’s the largest Middle East bond issue ever and further evidence…
Qatar cuts health project spending
For full coverage of Middle East business, see MEED Qatar has cut its planned spending on health projects following the drop in oil prices but expenditure on World Cup-related projects should be unchanged, Reuters reported lead adviser for contracts and project management…
Bids in for Al-Shaheen PSA
For full coverage of Middle East business, see MEED Chevron Corporation, Royal Dutch Shell, Total SA, ConocoPhillips and Maersk Oil Qatar have bid for a production sharing agreement for the offshore Al-Shaheen field, which currently produces 300,000 barrels a day…
S&P forecasts lower profitability for Qatar banks
For full coverage of Middle East business, see MEED Standard & Poor’s (S&P) Ratings Services said in a report released today that it anticipates tightening liquidity, slackening credit growth and weakening profitability for Qatar’s banks in 2016. “Although the drop…
Fitch affirms QNB’s rating
Fitch Ratings has affirmed Qatar National Bank’s (QNB’s) long-term issuer default rating (IDR) at AA- with a stable outlook and has placed QNB’s viability rating (VR) of a on rating watch negative (RWN) following QNB’s proposed acquisition of Finansbank. The…
QNB reports 8 per cent profit rise in 2015
Qatar National Bank (QNB), the Middle East’s largest commercial bank in terms of assets, said that its net profit for 2015 as a whole rose by 8 per cent to QR 11.26bn on higher operating income and lower loan provisions.…
Qatar budget deficit in line with expectations
The deficit of QR 46.5bn ($12.8bn) envisaged inQatar’s 2016 budget reflects the impact of lower oil prices but remains in line with most expectations, analysts say. It will amount to about 5 per cent of Qatar’s forecast GDP in 2016.…
Qatar economy to remain strong despite oil prices
For full coverage of Middle East business developments, see MEED High public investment and higher gas output linked to the launch of the Barzan production facility should see Qatar’s economic performance remain relatively strong through 2016 and 2017, National Bank…