Latest news with #GulfTimesNewspaper
Zawya
05-05-2025
- Business
- Zawya
Qatar banks' total domestic credit increases 5.5% to $362bln in March: QCB
Qatar - Total domestic credit in Qatar's banking sector increased by 5.5% to QR1.32tn in March compared to the same period last year, according to QCB. Latest banking sector indicators provided by Qatar Central Bank showed that total domestic deposits with commercial banks' assets increased by 1.9% to QR857.1bn in March compared to the same period last year. The total assets of commercial banks in the country increased 4.4% year-on-year to QR2.07tn in March. On the other hand, broad money supply (M2) decreased 0.5% year-on-year to QR739bn in March. QCB noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
Zawya
05-05-2025
- Business
- Zawya
Led by Qatar, GECF accounts for 47% of LNG cargo exports so far in 2025
Qatar - Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. In March, some 577 LNG cargoes were exported globally, Gas Exporting Countries Forum said in its Monthly Gas Market Report. This represents an increase of 19 shipments compared to a year ago, GECF noted. Moreover, the number of shipments rebounded in March 2025, by 14% when compared with the total in the previous month. After the first quarter of 2025, total export cargoes reached 1,641, which was similar to the level reached during the same period in 2024. For the January to March period, the US exported some 39 more cargoes than in 2024, followed by Indonesia with 14. According to GECF, there was a slight uptick in the level of spot charter rates, although the shipping market remains depressed. In March this year, the monthly average spot charter rate for steam turbine LNG carriers climbed by 40% m-o-m to reach $700 per day. In March 2025, the average price of shipping fuels decreased by 4% m-o-m, to reach $520 per tonne. Compared with one year ago, this average price was 16% lower y-o-y, and was also 6% lower than the five-year average price for that month. In March 2025, the LNG spot shipping costs for steam turbine carriers decreased further, by up to $0.11/MMBtu on certain routes. This was driven by the small uptick in the average LNG carrier spot charter rate, which was outweighed by the impact of the decreases in the delivered spot LNG prices and the cost of shipping fuels, when compared with the previous month. Compared to one year ago, in March 2025, the monthly average spot charter rate and cost of shipping fuels were both lower, while the delivered spot LNG prices were higher. As a result, LNG shipping costs were up to $0.48/MMBtu lower than in March 2024. In March 2025, global LNG exports surged by 9.8% (3.50mn tonnes) y-o-y to reach a monthly record of 39.23mn tonnes, marking the highest annual growth rate since June 2021. The increase was supported by higher exports from both GECF and non-GECF countries, along with a rise in LNG re-exports. For the period Q1, 2025, global LNG exports rose by 3.9% (4.11mn tonnes) y-o-y, reaching 110.65mn tonnes driven primarily by higher exports from non-GECF countries. The share of non-GECF countries in global LNG exports edged up from 52.2% in March 2024 to 52.8% in March 2025. Likewise, the share of LNG re-exports increased from 0.4% to 1.2% over the same period, while the share of GECF Member Countries declined from 47.4% to 46%. The US, Qatar and Australia were the top three LNG exporters in March, GECF noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
30-04-2025
- Business
- Zawya
Qatar: QLM earns insurance revenue of $82.28mln in first quarter
Qatar - QLM Life & Medical Insurance Company has earned an insurance revenue of QR299.5mn in the first quarter of the year. The net profit of the company for the period that ended on March 31, stood at QR15.2mn as against QR17.4mn in the same period last year. Earnings per share in Q1, 2025 was QR0.04 per share as compared to QR0.05 in Q1, 2024. Net investment and other income in the first quarter stood at QR12mn, compared to QR10.2mn in Q1, 2024. QLM Chairman Sheikh Saoud bin Khalid bin Hamad al-Thani said, 'At the core of our mission lies an unshakable commitment to delivering exceptional care for our members. We blend technological innovation with the invaluable knowledge of our local experts to create service experiences that are both rigorously precise and genuinely responsive to individual needs. 'This strategic fusion enables us to consistently exceed expectations while reinforcing our position as the essential partner for stakeholders who value excellence, reliability, and meaningful results.' QLM CEO Fahad al-Suwaidi stated, 'QLM is redefining insurance through the strategic fusion of powerful technology and proactive wellness solutions. Our advanced systems don't just respond to needs — they anticipate risks and create smarter safeguards for our members. 'By combining data-driven insights with a deep commitment to wellbeing, we are building a new standard where protection doesn't just recover — it prevents. Every innovation we deploy serves one clear purpose: to place our members' security and health at the forefront of an evolving insurance landscape.' © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
Zawya
02-04-2025
- Business
- Zawya
Qatar municipality progressing well towards zero-waste target
The Ministry of Municipality has reaffirmed its pioneering commitment to attain sustainability through various tangible initiatives towards the creation of a clean and more sustainable environment and green future. On the occasion of the International Zero Waste Day, the ministry stressed the need for collaborating efforts of people and the related entities to attain the objective in Qatar and reviewed its various efforts and achievements in this regard. The ministry has a comprehensive legal system to maintain public health, environment cleanness and achieve sustainable development. These include the ministerial decision no 143 for 2022 on the regulations of using plastic bags, besides the launch of the comprehensive national programme for sorting waste at the source, and the ministerial decision no 170 of 2021 regarding sorting of solid waste. The Integrated National Solid Waste Management Programme launched in 2022 targets an integrated development of all facilities and systems for collecting, transporting and managing solid waste in the country until 2030 following the principles of circular economy, and Qatar National Vision 2030. The ministry has always adopted an active awareness approach to promote the ideas and practices of sustainability across the society such as constant inspection campaigns to monitor the implementation of the decision to limit the use of single-use plastic bags, a number of conferences and events held throughout the year to promote recycling and sustainability, various activities and events held at the shopping malls to raise public awareness on related issues, and maintaining active partnership with the private sector, factories and companies in this regard. Accordingly, the ministry has made several key success in waste recycling that include effectively disposing of the country's stock of damaged tyres, the production of more than 277 megawatt/hour of clean energy using recycled materials, and the production of more than 40,000 tonnes of fertilisers from recycled waste. The Ministry has allocated 51 land plots for establishing recycling plants at Al Afja Area in Mesaieed. The first guidebook for waste management and recycling was also launched, while awareness efforts are ongoing to attain the zero-waste target. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Zawya
21-03-2025
- Business
- Zawya
Qatar: Commercial Bank holds AGM and EGM
Commercial Bank General assembly approves all items on agenda including board's recommendation to distribute a cash dividend of QR0.30 per share Commercial Bank held its Annual and Extraordinary General Meetings last night and approved all items on the agenda. These include the recommendation of the Board of Directors to distribute a cash dividend of QR0.30 per share, equivalent to 30% of the nominal share value. Commercial Bank Chairman Sheikh Abdulla bin Ali bin Jabor al-Thani said, 'Commercial Bank's vision is to be the leading bank in Qatar with the world's best client experience, innovation in products and digital capability. We made good progress in achieving this vision, as we finished the third year of our five year strategic plan 2022-2026, crossing the landmark net profit figure of QR3bn for the second time. 'We are confident in our strategy and we will continue our commitment to supporting Qatar's national development in line with the Qatar National Vision 2030 and delivering world-class standards of products, services and values to our customers and shareholders.' © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
