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.…
Tag: Qatar
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.…
Iran approves joint field development budget
For full coverage of business developments in Iran and the Middle East, see MEED Iran’s cabinet today approved issuing government-guaranteed bank bonds worth IR 100,000bn for the development of oil and gas fields jointly-owned with neighbouring countries, Fars Newsagency has…
Dolphin energy rating affirmed
For full coverage of Middle East business, see MEED Fitch Ratings has affirmed Dolphin Energy Limited’s (DEL’s) $1,250m 5.888 per cent secured bonds due 15 June 2019 and $1,300m 5.5 per cent secured bonds due 15 December 2021 at A+.…
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…
International Bank of Qatar’s debt programme rated A+
Fitch Ratings has assigned International Bank of Qatar’s new $2bn euro medium-term note programme a long-term rating of A+ and Short-term rating of F1. The notes will be issued by IBQ Finance Limited in the Cayman Islands. IBQ Finance is…
Qatar backs nuclear deal
Qatar signalled last night that it backed the nuclear deal between the US, Russia, China, the UK, France and Germany. “This was the best option amongst other options in order to try to come up with a solution for the…
Qatar on track for 3 million visitors in 2015
The number of foreign visitors to Qatar rose by 7 per cent in the first half of 2015 and is on track to grow to 3 million in the year as a whole, the Qatar Tourism Authority (QTA) said in…
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IMF says Qatar Petroleum revenue review begun
Qatar Petroleum (QP) is review the impact on its income of lower oil prices that could be permanently lower, the IMF’s Article IV report released on 2 April says. “The authorities are currently assessing the implications of the oil price drop for…