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Qatar Tribune
28-05-2025
- Business
- Qatar Tribune
Qatar's trade with Malaysia grows 80% to QR5.2 billion: QC
Tribune News Network Doha Trade relations between Qatar and Malaysia have witnessed remarkable growth, with bilateral trade increasing by 80 percent in 2024 to reach QR5.2 billion, up from QR2.9 billion in 2023, according to Rashid bin Hamad Al Athba, second vice chairman of Qatar Chamber. Al Athba made the announcement during the ASEAN-GCC-China Economic Forum held in the Malaysian capital on Wednesday. The event brought together senior government officials, business leaders, and investors from ASEAN, GCC countries, and China to explore economic cooperation and strategic investments across key sectors. Qatar Chamber participated in the forum with a delegation headed by Al Athba and included board members Eng Ali bin Abdul Latif Al Misnad and Nasser bin Suleiman Al Haidar. The forum featured high-level sessions on boosting investment between ASEAN, GCC, and China, the role of artificial intelligence in transforming industries, and accelerating growth in energy and logistics sectors across the ASEAN region. On the sidelines of the forum, Al Athba held bilateral meetings with regional leaders to strengthen economic ties. He met with Minister of Finance and Economy of Brunei Dato Amin Abdullah where both sides discussed opportunities for collaboration and the signing of new cooperation agreements with the Brunei Chamber of Commerce and Industry. Al Athba also met with Malaysia's Deputy Minister of Investment, Trade and Industry Liew Chin Tong. The two discussed ways to deepen trade and economic cooperation between Qatar and Malaysia, as well as enhancing mutual investments in diverse sectors. Speaking to the media, Al Athba emphasised the readiness of Qatar's private sector to expand cooperation with ASEAN countries. 'ASEAN is one of the world's fastest-growing economic regions, strategically located on global trade routes and home to a population of approximately 690 million. These attributes make it highly attractive to Gulf investors looking to scale their global footprint,' he said. He called on business leaders in ASEAN countries and China to explore Qatar's dynamic business environment, benefit from the investment incentives on offer, and form commercial alliances with Qatari companies. The forum reaffirmed Qatar Chamber's commitment to advancing economic collaboration between Qatar, ASEAN countries, and China, while also promoting Qatar as a leading hub for trade and investment in the region.
Qatar Tribune
08-05-2025
- Business
- Qatar Tribune
QCB issues QR 2.9 billion in T bills amid robust investor interest
Tribune News Network Doha The Qatar Central Bank (QCB) successfully concluded its latest treasury bills auction on Thursday, allocating a total of QR2.9 billion against bids amounting to QR10 billion. The auction, which covered various tenors ranging from seven days to 336 days, attracted strong interest from financial institutions, reflecting robust confidence in the Qatari economy and the central bank's monetary instruments. According to QCB, the allocations were spread across seven different maturities. A new issuance of 7-day bills accounted for QR500 million at a yield of 4.610 percent. The highest yield of the auction, 4.618 percent, was offered on the 21-day bills, which were issued through a tap issuance mechanism and also amounted to QR500 million. The 84-day bills, likewise a tap issuance, attracted a yield of 4.556 percent with an allocation of QR500 million. For medium-term tenors, the central bank allocated QR500 million for 175-day bills at a yield of 4.367 percent through a tap issuance. Meanwhile, a new issuance of 273-day bills also garnered QR 500 million, yielding 4.265 percent. The longest tenor in the auction, the 336-day bills, saw a tap issuance of QR400 million at a yield of 4.237 percent—the lowest among all maturities. The yields across tenors suggest a mildly upward-sloping short-term yield curve, particularly in the early durations, followed by a gradual decline for longer maturities. This pattern indicates market expectations of stable or potentially easing interest rates over the coming months. The sizable demand—more than three times the allocated amount—demonstrates the attractiveness of QCB bills as a low-risk investment avenue and highlights the liquidity management needs of Qatari banks and financial institutions. The combination of new and tap issuances also reflects the central bank's agile approach to managing liquidity while supporting price discovery in the money market. QCB's continued issuance of bills at regular intervals plays a critical role in reinforcing monetary stability and anchoring short-term interest rates in line with its broader economic objectives. The success of this auction further underscores the central bank's credibility and the resilience of Qatar's financial system.
Zawya
14-02-2025
- Business
- Zawya
Qatar: Estithmar Holding's net profit increases by 20%
DOHA: Estithmar Holding QPSChas announced its financial results for the year ended December 31, 2024, approved by the company's Board of Directors. The company recorded a 44% increase in revenues, reaching QR4.2 billion, compared to QR2.9 billion in 2023. The gross profits of the company reached QR1 billion, up from QR801 million in 2023, reflecting a 27% increase. The company also achieved earnings before interest, tax, depreciation, and amortization (EBITDA) of QR742 million. The results showed a 20% rise in the company's net profit compared to 2023, reaching QR422 million. Earnings per share also increased by 17% from 2023, reaching QR 0.119 per share. The 20% growth in net profit is attributed to the increase in the company's revenues, which were primarily driven by the contracting and healthcare clusters. The contracting cluster expanded in executing and delivering projects efficiently in the Kingdom of Saudi Arabia. The healthcare cluster contributed to the rise in 2024 revenues, driven by the sustainable performance growth of The View Hospital in Qatar, and the expansion of the cluster through the subsidiary Apex Health, which signed management and operation agreements for several hospitals. A set of measures taken in the ventures cluster has also contributed to restructuring the business model and increasing revenues. The financial results for 2024 reported a 25% increase in assets compared to the previous year, resulting from the new projects added to Estithmar Holding's portfolio, including the Korean Medical Center in Lusail, the Rixos Baghdad project in Iraq, and the Rosewood Maldives Resort. The results also revealed a current liquidity ratio of 1.22. The Board of Directors of Estithmar Holding recommended a dividend distribution equivalent to 10% of the capital, with 1 free share for every 10 shares. The results have demonstrated the ability of the holding company to maintain sustainable growth, enabling it to expand regionally and internationally, supported by the broad trust it has gained from its successful track record across all operational sectors locally. In 2024, the company signed numerous agreements with sovereign wealth funds and regional government entities to transfer its expertise, particularly in healthcare, specialized contracting, services, and real estate development sectors. The contracting cluster contributed 42% to the company's revenues in 2024, driven by its notable activity both locally and regionally, especially in Saudi Arabia. The cluster completed several agreements and contracts in 2024, with Elegancia Arabia, one of Estithmar Holding's companies, participating in massive projects such as NEOM, the Red Sea Project, and AMALA, among others. The services cluster contributed 35% to the company's revenue. This sector provides services such as facilities management, catering services and solutions, manpower and human resources, and event support, among others. In 2024, the cluster expanded into Iraq, Libya, in addition to its operations in Saudi Arabia and Jordan. The healthcare cluster, through Estithmar Holding's subsidiary Apex Health, continued to achieve sustainable growth, driven by the company's expansion in applying the hospital management and operation model regionally, including in Iraq and Libya. Hospitals within Qatar; The View Hospital and The Korean Medical Center continued to gain trust by adhering to the highest international quality standards, hosting world-class medical professionals, and activating partnerships with leading international medical institutions such as Cedars-Sinai (USA) and Asan Medical Center (South Korea), among others. The ventures cluster performed steadily, attributed to the demand for the sector's projects, including Al Maha Island, which received over 4.7 million visitors in 2024. The year also concluded a strong finish for the second season of Lusail Winter Wonderland and a successful launch of its third season, attracting thousands of Qatar residents and tourists. Additionally, the sector's hotel facilities, such as Katara Hills and Maysan Doha resorts, continued to lead the luxury hospitality sector in Qatar throughout the year. Similarly, the cluster's projects outside Qatar have progressed, The Rixos Baghdad project that features residential apartments, and a world-class hotel made significant progress in its construction phase, and The Rosewood Maldives Resort project is also advancing rapidly in terms of completion and is expected to become a prominent tourism destination in the Maldives and globally. © Copyright Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (
