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Qatar Tribune
23-05-2025
- Business
- Qatar Tribune
Minister meets with Turkish delegation
Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry HE Dr Ahmed bin Mohammed Al Sayed met Mehmet Simsek, Minister of Treasury and Finance of the Türkiye, on the sidelines of Qatar Economic Forum 2025. During the meeting, the two sides discussed topics of common interest aimed at strengthening bilateral cooperation in the fields of trade and investment, as well as ways to support and develop mutual relations. They also exchanged views on key issues featured on the forum's agenda.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
Turkish finance minister invites Qataris to invest in his country
Tribune News Network Doha Qatar Chamber hosted a high-level Turkish trade delegation headed byMehmet Şimşek, Minister of Treasury and Finance of the Republic of Turkey. The delegation was received by Eng. Ali bin Abdullatif Al Misned, Qatar Chamber Board Member. Also attended the meeting were several QC board members, H.E. Dr. Mustafa Göksu, Ambassador of the Republic of Turkey to the State of Qatar, Furkan Karayaka, Vice President of the Investment Office of the Presidency of the Republic of Turkey, along with a number of Qatari businessmen. The meeting discussed ways to boost cooperation between Qatar and Turkey in commercial and economic fields. Discussions also covered the investment climate and available opportunities in both countries, with an emphasis on establishing trade alliances between Qatari and Turkish companies. In his remarks, Eng. Ali Al Misned praised the strong and brotherly relations between Qatar and Turkey across various fields, particularly trade and economic cooperation. He stressed Qatar Chamber's readiness to support efforts aimed at further enhancing collaboration between the business sectors of both countries. He noted that the volume of trade exchange between the two countries amounted to QR 4.18 billion in 2024. Al Misned also pointed out that more than 140 Turkish companies are currently operating in the Qatari market, including 16 wholly owned by Turkish investors, across various sectors. For his part, Mehmet Şimşek, Minister of Treasury and Finance of the Republic of Turkey, affirmed the strength of relations between Turkey and Qatar, noting the deep-rooted and strategic partnership between the two nations. He highlighted key features of the Turkish economy and its conducive environment for business and investment. He underscored the importance of enhancing cooperation through the establishment of joint ventures, whether in Qatar, Turkey, or third markets such as Africa, East Asia, and other emerging economies. He further emphasized that Turkey offers numerous investment opportunities and warmly welcomes Qatari investments across all sectors such as technology. Renewable energy, industry, agriculture, tourism and infrastructure.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
Finance minister meets several ministers, officials on margins of QEF 2025
DOHA: Minister of Finance HE Ali bin Ahmed Al Kuwari has met with Minister of Economy and Planning of the Kingdom of Saudi Arabia HE Faisal bin Fadhil Alibrahim, on the margins of the Qatar Economic Forum 2025, held under the theme 'The Road to 2030: Transforming the Global Economy'. Both ministers conferred on a broad range of topics related to shared interests, particularly economic ones, as well as avenues for broadening collaborative efforts between the two nations. Separately, Al Kuwari met with Minister of Treasury and Finance of the Republic of Turkiye HE Mehmet Simsek, on the margins of the forum. They addressed a range of topics related to the shared interests of both countries, particularly in the financial and economic fields, as well as measures aimed at broadening the scope of these joint activities. Additionally, Al Kuwari met with His Grace The Duke of Richmond, Charles Gordon-Lennox, from King's Trust International. The meeting reviewed areas of mutual cooperation and discussed ways to strengthen relations across a number of sectors of shared interest, particularly in the fields of economy and investment, in addition to addressing regional and international economic developments. Al Kuwari also met with Executive Vice President and Chief Commercial Officer at Microsoft, Judson Althoff. Both sides deliberated on strengthening the frontiers of bilateral cooperation in the areas of investment, finance, and economics, as well as a host of topics of shared interest.
Qatar Tribune
05-05-2025
- Business
- Qatar Tribune
Turkey's inflation cools to below 38% to extend slide to 11 months
Agencies Turkey's annual inflation slowed for the 11th month in a row to the lowest in more than three years, easing to below 38% in April, according to official data on Monday. Consumer price rises slowed to 37.9%, down from 38.1% in March, figures from the Turkish Statistical Institute (TurkStat) showed. Market surveys projected an annual reading of around 38%. The April rate marks the lowest level since December 2021, when prices had risen 36.08%. The continued decline is positive, and the government expects inflation to keep falling, Treasury and Finance Minister Mehmet Şimşek said 'The fight against the high cost of living is the most important item on the agenda,' Şimşek told an interview with broadcaster TGRT Haber. 'We expect a normalization after July. By the end of the year, we foresee that annual inflation will fall below 30%.' Month-over-month, consumer prices grew 3%, compared to 2.46% in March, the TurkStat data showed. Surveys had estimated a 3.1% increase on the back of energy prices and foreign exchange pass-through. The annual rise was driven by a surge in education costs (79.2%), housing (74%), hotels and restaurants (41.8%) and health care spend (41.9%). The price growth in food and non-alcoholic beverages eased to 36.09% from 37.12%. Similarly, furnishings and household equipment costs moderated to 30.54% from 32.41%. Turkey's annual inflation exceeded 75% in May 2024, before starting to slow in June amid aggressive monetary tightening as part of the government's economic program. 'We continue to establish the disinflation process thanks to our steadfastly implemented economic program,' Vice President Cevdet Yılmaz wrote on the social media platform X. Recent weeks have seen Turkey's central bank reverse its easing cycle amid volatility after last month's arrest of Istanbul Mayor Ekrem Imamoğlu on corruption charges pending a trial, and uncertainty about U.S. tariffs. The arrest of Imamoğlu sent the Turkish lira and assets sharply lower. The currency later recovered some losses but still stood some 5% weaker compared to before the arrest. Economists have said that food prices and energy prices, as well as prices of items that are directly impacted by currency volatility, could impact April inflation due to the recent shake up in the market. The central bank began to gradually cut its benchmark interest rate in December and lowered it to 42.5% in early March. But it reversed the cycle last month with a surprise 350-basis-point rate hike to 46%, which boosted Turkish assets and signaled renewed commitment to tackling inflation. Although market volatility in mid-March caused some deterioration of inflation expectations, the government said the impact of the turmoil is temporary and limited and inflation will be in line with the central bank's target range. 'The (economic) program's aim has been to reduce inflation for nearly two years. Annual inflation has been trending downward for the past 11 months,' Şimşek said on Monday. 'Despite recent internal and external shocks, the continued decline is positive. What matters now is the next phase.' Şimşek said the government expects the downward momentum to continue and sees a high probability that inflation will remain within the target forecast range. The central bank's year-end inflation midpoint estimate currently stands at 24%, in a forecast range of 19% to 29%.'The impact of monetary policy has become clearly evident. This year, fiscal and revenue policies will create a more supportive effect,' he noted. 'We expect the disinflation process to persist in the second half of this year.' Yılmaz said the government would 'steadfastly continue' its fight against inflation 'through the program we have implemented with strong coordination.' 'In an increasingly uncertain global environment, we will enhance our relative performance with political stability and predictability. Our goal is to grow our economy in a stable manner and sustainably raise societal welfare levels,' he noted. Bürümcekçi Research & Consultancy said in a note that in the near term, monetary policy will be shaped by risks to financial stability rather than price stability. 'While we see a low probability that the central bank will return to rate cuts at its June meeting, we think that signals in this direction will only strengthen if the weighted average funding cost approaches 46.0% and substantial foreign-exchange reserve losses give way to steady reserve accumulation,' it said. A separate report from the statistical office showed that producer prices climbed 22.5% in April from a year ago. This was weaker than March's 23.5% increase and marked the lowest rate since October 2020. Prices of mining and quarrying climbed 29.59%, and manufacturing reported a 22.65% rise. Producer prices of electricity, gas, steam, and air conditioning grew 14.45% and advanced 58.14% for water supply. Month-over-month, producer prices moved up 2.76% after rising 1.88% in the prior month.
The Guardian
21-04-2025
- Health
- The Guardian
Less than 2% of Labor's promised $1bn mental health funding would be spent next financial year
Just $16.5m of Labor's promised $1bn mental health package – or 1.65% – is due to be spent in the next financial year, according to official policy costings that reveal some new care centres might not open until 2029. Anthony Albanese this month unveiled a major suite of policies to make it easier for the public – in particular young Australians – to access free mental health treatment. In an announcement hailed as 'visionary' by leading psychiatrist and former Australian of the Year Patrick McGorry, the prime minister promised: $225m for 31 new and upgraded Medicare mental health centres More than $200m for 58 new, upgraded or expanded headspace services $500m for 20 specialist care centres for young people with complex needs $90m for more than 1,200 training places for mental health professionals and peer workers Peak mental health groups praised the $1bn pledge as a significant and much-needed investment to fill gaps in the provision of care for the one in five Australians who experience a mental health disorder. The 8 April announcement did not include several key details, including a proposed timeline for the new and upgraded clinics. But those details have now been revealed in a costing request for the policy submitted to Treasury and Finance on 17 April, and published over the weekend. The request, submitted under Albanese's name, showed just $16.5m of the total $1bn commitment was expected to be spent in 2025-26. The bulk of the funding – roughly $878m – is not allocated until the 2027-28 and 2028-29 financial years, as the services are progressively built and upgraded. Under Labor's plan, the first five new Medicare mental health centres would be opened in 2025-26, with 19 due to be operational in 2027-2028. However, the final three aren't scheduled to be up and running until 2028-2029. The clinics would be in addition to the 61 centres that the Albanese government has been progressively opening over recent years. The new, upgraded or expanded headspace services would be rolled out from 2026-27 to 2028-29. The costing request also revealed the proposed timeline for the specialist youth mental health centres, a new model designed to provide intensive care to patients with personality disorders, eating disorders and early psychosis. The government plans to establish 12 centres in 2027-28, the document showed. The remaining eight would be upgraded and rebadged existing headspace early psychosis youth services. Guardian Australia put questions to Labor about the costings, including why only $16.5m was set aside for next financial year. 'Our focus is on growing the mental health workforce as we expand the network of free mental health services across the country to build genuine, sustainable improvements in access to mental health supports when and where people need them,' the spokesperson said. Peter Dutton has promised a total of $900m for mental health, which includes $500m to restore the 20 Medicare-subsidised mental health sessions offered during the pandemic and $400m for youth-specific services. Sign up for the Afternoon Update: Election 2025 email newsletter The government spokesperson claimed the Coalition's plan would add to demand for private psychologists without growing the workforce, which would drive up gap fees and lengthen waitlists. The Coalition declined to provide Guardian Australia with costings for its mental health policies but insisted they would be published ahead of the 3 May election. A spokesperson said a Dutton government would restore mental health and suicide prevention as a 'national priority', guaranteeing that under its plan 'people won't be waiting years before any real action on mental health'. 'Labor announced it would copy the Coalition's youth mental health measures at the 11th hour after three years of completely neglecting mental health, and now it's clear that this announcement was a shameful con,' the spokesperson said. Giancarlo de Vera, the chief executive of New South Wales-based mental health consumer group Being, was concerned Labor's promised funding would roll out too slowly and was not targeted at the services patients needed. 'Consumers are looking for community-based, peer-led services, and the fact that the budget is only really funding 500 peer workers is not what consumers want,' de Vera said. 'Consumers want services that support their ability to stay in the community, and services that support a greater choice in the support they do access.' In Australia, the crisis support service Lifeline is 13 11 14. In the UK and Ireland, Samaritans can be contacted on freephone 116 123, or email jo@ or jo@ In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on or text HOME to 741741 to connect with a crisis counselor. Other international helplines can be found at
