Finance ministry wins Mideast ‘Deal of the Year' award
The Ministry of Finance has won the 'Deal of the Year' award at the Global Banking and Markets: Middle East Awards 2025 in Dubai, the UAE. The award recognises the ministry's outstanding issuance of $2.5 billion in green bonds in May 2024. The ministry issued the bonds in two tranches with maturities of five and 10 years. The offering saw significant interest from local, regional, and international investors, with total subscriptions exceeding $14 billion. This issuance marks a significant milestone in Qatar's green finance journey. It is the first sovereign green bond issuance of its kind in the Gulf Cooperation Council (GCC) countries and the largest green bond offering in the Middle East. Furthermore, the pricing of the offering achieved some of the lowest debt cost margins in the Central and Eastern Europe, Middle East, and Africa (CEEMA) region for the aforementioned maturities at the time of issuance. page 9
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
3 days ago
- Qatar Tribune
State budget records QR0.5 bn deficit in Q1 2025
DOHA: The State of Qatar's general budget posted a deficit of QR0.5 billion during Q1 2025 (January, February, and March), the Ministry of Finance (MoF) announced on Tuesday. In a statement published on its account on the social media platform X, MoF highlighted that the deficit was covered through debt instruments, according to the actual data for Qatar's budget performance in Q1 2025. The total revenues for Q1 2025 stood at approximately QR49.4 billion, reflecting a 7.5 percent decrease compared to Q1 2024, the statement read. It clarified that these revenues comprised QR42.5 billion in oil and gas revenues and QR6.9 billion in non-oil revenues. The statement further noted that total public expenditure during Q1 2025 amounted to roughly QR49.9 billion, registering a 2.8 percent decline compared to Q1 2024. The expenditure was allocated as follows: QR16.9 billion for salaries and wages, QR18.5 billion for current expenditures, QR13.1 billion for major capital expenditures, and QR1.2 billion for minor capital expenditures. The statement highlighted that the total value of government procurement contracts executed through tenders and auctions by public entities during Q1 2025 amounted to approximately QR6.4 billion. Contracts awarded to foreign companies totaled around QR1.5 billion, marking a 50 percent increase compared to Q1 2024. Overall, MoF stated that the top four sectors according to the Business Activity Index during Q1 2025 were municipality and environment, health, energy, and the General Secretariat of the Council of Ministers.
Qatar Tribune
4 days ago
- Qatar Tribune
Al Kuwari takes part in ‘All of the Gulf is One Nation' campaign
QNA Kuwait Minister of Finance HE Ali bin Ahmed Al Kuwari has participated in the launch of 'All of the Gulf is One Nation' campaign, a unified media initiative led by the GCC General Secretariat. The campaign aims to raise awareness of the rights and entitlements enjoyed by GCC citizens across all member states, reflecting the spirit of shared Gulf citizenship. Commenting on the launch, Al Kuwari said it 'reflects the spirit of cooperation among GCC countries and helps raise awareness among Gulf citizens of their rights and opportunities in various fields'. Meanwhile, GCC Secretary-General Jasem Mohamed AlBudaiwi said the campaign 'embodies the vision of Their Majesties and Highnesses, the leaders of the GCC in building a unified Gulf system based on the principles of justice and equality'. 'It reflects a firm commitment to strengthening Gulf brotherhood and consolidating the foundations of unity and integration among our peoples.' The campaign highlights the equal opportunities and benefits available to citizens of the GCC states across various economic and social sectors. These include the freedom of movement and residence, the right to engage in economic and investment activities, and access to healthcare and education services without discrimination—all of which contribute to a shared sense of belonging and a unified Gulf identity. The campaign was officially announced during the 123rd meeting of the GCC Financial and Economic Cooperation Committee, held on Sunday in Kuwait. The meeting was chaired by Minister of Finance and Minister of State for Economic Affairs and Investment of the State of Kuwait Engineer Noora Sulaiman Al Fassam, with the attendance of their excellencies the ministers of finance and economy from the member states, along with the participation ofthe secretary-general of the GCC. The media campaign will run for six months across all GCC countries as part of a comprehensive media strategy aimed at reinforcing the concept of Gulf citizenship, showcasing the tangible achievements, and increasing awareness of the rights and opportunities available to citizens under the framework of comprehensive GCC cooperation.
Qatar Tribune
4 days ago
- Qatar Tribune
Qatar joins GCC economic meeting in Kuwait
QNA DOHA Qatar took part in the 123rd Meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC), held in the State of Kuwait on Sunday. Minister of Finance HE Ali bin Ahmed Al Kuwari chaired the State of Qatar's delegation at the meeting. The meeting reviewed the outcomes of the 84th Meeting of the Committee of Governors of Central Banks of the GCC Countries, the meetings of the GCC Customs Union Authority, and the 14th Meeting of the Committee of Heads and Directors of Tax Departments. Discussions also covered the amendment of the minimum specific duty on tobacco, the implications of increased United States customs tariffs, and the proposed allocations for judges of the Economic Judicial Authority. It further discussed the outcomes of the GCC Common Market Committee, along with a review of the GCC's engagement in the International Monetary Fund (IMF) and World Bank meetings, in addition to the implementation document on the unified criteria for defining the national Gulf product, with particular emphasis on advancing economic integration, fostering innovation, and strengthening economic resilience in the face of common challenges. The Media Campaign on the GCC Common Market was launched on the margins of this meeting. It aims to raise public awareness, foster understanding of the unified Gulf market notion, and highlight the merits it offers to citizens and investors alike. These merits include freedom of movement and residency, property ownership, employment, investment, and equal treatment across a variety of economic sectors.
