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FIFA World Cup Qatar 2022 is officially underway and Qatar Airways, as the official airline of the journey, is marking the month-long tournament with special football-themed experiences at the stadiums and at fan zones across the country.World-class sports infrastructure, a five-star airport expansion and a host of fun-filled tourist attractions and cultural experiences also await the 1.5mn fans expected to attend the event.Qatar Airways Group Chief Executive HE Akbar al-Baker, said: “The countdown is complete, and after more than a decade, our dream of bringing the world together has truly come alive. We have witnessed a spectacular opening ceremony, one that is truly worthy of honouring the greatest show on earth."We have 63 more matches ahead of us and I am sure every single one of them will be an unforgettable experience. We are excited to give the world a taste of Arab hospitality and share our passion for connecting the world through travel and sport.”Qatar’s national airline recently launched a FIFA World Cup campaign anthem on board flights arriving in Qatar and dedicated it to fans everywhere.“C.H.A.M.P.I.O.N.S.” sung by internationally acclaimed singer Cheb Khaled and superstar DJ Rodge has already received millions of views across the airline’s official channels.For the duration of the tournament, the Qatar Airways fleet is carrying the FIFA World Cup decal on 120 aircraft.The specially-branded aircraft include 48 B777s, 31 B787s, 21 A320s, 12 A330s, and eight A380s. Three specially-branded Boeing 777 aircraft are hand-painted in FIFA World Cup Qatar 2022 livery.Upon arriving to any of the eight stadiums on match day, guests are invited to enjoy various interactive and family-friendly games at Qatar Airways’ stands.Football fans staying in Qatar during the tournament are invited to visit the Qatar Airways Skyhouse, located at the FIFA Fan Festival at Al Bidda Park, which is situated along Doha’s beautiful Corniche. The Skyhouse has a zipline experience, a Neymar Jr. interactive challenge, a swing photo booth and a QVerse virtual tour of Qatar Airways’ award-winning business class. Global music acts and local artists will be also be joining the line up to entertain fans at the fan zone.Qatar Airways has also partnered with social media platform 433 ‘The Home of Football’ for the duration of the tournament, and will be broadcasting post-match analysis featuring football legends.In 2017, Qatar Airways announced its partnership with FIFA as the Official Airline. The alliance has gone on to connect and unite fans globally, with “The World’s Best Airline” also sponsoring numerous football tournaments such as the FIFA Confederations Cup 2017, the 2018 FIFA World Cup Russia, the FIFA Club World Cup, and the FIFA Women's World Cup.

Qatar’s main gateway to the world - Hamad International Airport (HIA) - has started seeing a huge influx of passengers, mostly fans for the FIFA World Cup Qatar 2022.Qatar Airways said: “It is a busy day at HIA with almost 400 flights arriving today.”HIA chief operating officer Badr Mohamed al-Meer told a media event in Doha at the weekend that HIA was expecting to receive approximately 44,000 arriving passengers a day and upwards of around 900 aircraft movements daily over the next month.More than a million visitors are expected to arrive in Doha through HIA and Doha International Airport, which have made elaborate arrangements to receive fans arriving in the country for the “greatest sporting spectacle” on earth.Curated for all departing passengers, passenger overflow areas at both the airports have commenced operations.Both the facilities, the first of their kind in the world, will be available to departing passengers round-the clock until December 31.While the passenger overflow area at HIA has the capacity to accommodate 24,000 passengers a day, Doha International Airport (DIA) will be able to handle 12,000 departing passengers a day.Set to offer fans “extended memorable experiences and seamless connectivity” throughout both airports, the passenger overflow areas will only be accessible for passengers arriving at HIA and DIA more than four hours and up to eight hours prior to their scheduled departure flight time – regardless of the airlines in which passengers are flying with.The passenger overflow areas at both HIA and DIA will be operating for 24 hours a day, seven days a week – and will include a variety of food and beverage options, retail stores, gaming areas, football pitches for children, quiet areas, luggage storage, a lost-and-found desk, flight information screen, a free Wi-Fi activation area and more.Departing passengers can access the overflow area at HIA by taking a shuttle bus from the airport’s metro station.Similarly, they can go back to the HIA terminal using the shuttle service.Passengers arriving at HIA can take the Metro Red Line directly into central Doha from HIA T1 metro station.Passengers can buy a travel card from any station. Until December 23, ticketholders can use their digital Hayya Card and the Hayya to Qatar 2022 app, available for iOS and Android, for free travel on the metro.Fans arriving at HIA have access to a direct shuttle bus service to and from the fan villages at Barwa Madinatna, Barwa Barahat Al Janoub and the cruise ship hotels at Doha Port.This 24-hour service runs every 15 minutes, until December 22.On the other hand, passengers arriving at DIA can take the Metro Gold Line directly into Central Doha. The National Museum Metro Station is located some 800mts from the airport (DIA) arrival terminal.For return journey, fans from abroad have been advised to take the Red line to Al Matar Al Qadeem Metro Station, which is located close to the airport departures terminal.

New developments have significantly increased the quality of retail space in Qatar, Alpen Capital said in a report.Qatar’s supply of organised retail space exceeded 1.5mn sq m of gross leasable area (GLA). The most recent retail developments in the country include Abu Sidra Mall and The Galleria, both of which opened partially but are yet to reach full capacity.While there has been an increase in leasing activity and lease renewals, the impact of the pandemic led to more than 600 retail units within Doha’s 20 largest retail malls being vacant, representing a vacancy rate of approximately 20% by the end of 2021.The second half of 2021 saw an increase in leasing activity in City Centre Mall, Doha Festival City, and Mall of Qatar. While some of the major malls witnessed strong footfall and maintained full occupancy during the year, increasing competition and the challenging retail environment affected the performance of others. There was strong growth in retail performance in many of Qatar’s major malls with retail spending in these developments up by 10% to 20% y-o-y at the end of 2021.The opening of newer malls such as Place Vendome and the upcoming Commercial Boulevard, both in Lusail, are focusing on higher quality restaurants, entertainment, and leisure to complement their retail offerings.The recently opened Place Vendome, with a GLA of approximately 230,000sq m, is the third super-regional mall in Qatar after Mall of Qatar and Doha Festival City and the first major mall to open in Qatar since Tawar Mall in 2018.As of H1, 2022, supply of organised retail space within malls in Qatar reached 1.7mn sq m, reflecting an increase of 160% since 2015. Other upcoming retail developments in Qatar include Doha Oasis, 04 Mall, Waddan Mall, and the MENA District in Doha Port.Most of these projects are expected to complete during 2022, Alpen Capital said and noted: “Some of the busier malls have phased out rental incentives as footfall and retail spending continues to recover after the Covid-19 related restrictions have been eased.”

Qatar Airways and the country’s two airports – Hamad International and Doha International — are all ready to welcome the more than a million visitors over the next one month to watch the FIFA World Cup Qatar 2022, Group Chief Executive HE Akbar al-Baker said on Thursday.Addressing a media event at the ‘Passenger Overflow Area’ at HIA last night, al-Baker said the facility is the first one of its kind for the biggest football event in the world.The passenger overflow areas at both HIA and DIA will be operating for 24 hours a day, seven days a week (until December 31) – and will include a variety of food and beverage options, retail stores, gaming areas, football pitches for children, quiet areas, luggage storage, a lost and found desk, flight information screen, a free WI-FI activation area and more.The passenger overflow area does not include check-in service desks, so travellers can either check-in online while at the premises or visit the check-in halls at HIA or DIA. The passenger overflow area at DIA will be able to welcome up to 12,000 departing passengers per day. On the other hand, HIA has the capacity to accommodate 24,000 passengers a day.“All our airports will be crowded over the next month because of the millions of visitors and VIPs who will be arriving in Doha to watch the World Cup. Next month, our airports will get busier as we are expecting many fans from countries that qualify for the Round of 16, quarter-finals, semi-finals and final,” al-Baker said.“The passenger overflow areas will allow fans to experience the FIFA World Cup Qatar 2022 until the very end of their journey in Qatar. It will allow travellers to utilise their waiting time prior to their flights by enjoying exciting activities, which includes shopping, resting and watching football matches,” he said.

Beyond the Tarmac The International Civil Aviation Organisation (ICAO) recently agreed to adopt a Long Term Aspirational Goal (LTAG) to achieve net-zero CO2 emissions by 2050. This important step aligns with both the objectives of the Paris Agreement, and the net-zero CO2 emissions by 2050 resolution agreed at the IATA annual general meeting last year.The significance of the LTAG agreement cannot be overstated, points out Conrad Clifford, IATA Deputy Director General. To achieve net-zero CO2 emissions by 2050, government policy support in key areas of decarbonisation is critical, he noted at an industry event in Bangkok.Achieving net-zero carbon emissions by 2050 will require substantial and sustained investment and financing over the coming decades.One such area is in incentivising the production capacity of SAF. SAF is currently expected to account for 65% of carbon mitigation in 2050. It will be the largest contributor to future sustainability. But there are challenges.Airlines bought every drop of SAF available in 2021, and want to use more. They have committed to $17bn of forward purchasing agreements.The problem is the limited supply and high costs. In 2021, only 125mn litres of SAF were available on the market. That was less than 0.05% of the total fuel used.According to IATA, in 2021, irrespective of price (SAF is between two and four times the price of conventional jet fuel), airlines have purchased every drop of the 125mn litres of SAF that was available. And already more than 38 countries have SAF-specific policies that clear the way for the market to develop.Taking their cue from these policy measures, airlines have entered into $17bn of forward-purchasing agreements for SAF.In October 2021, IATA member airlines came together and took the monumental decision to commit to achieving net-zero emissions by 2050. This commitment brings the industry in line with the Paris Agreement’s 1.5C goal.Climate change is the greatest threat facing the societies and achieving net-zero emissions will be a huge challenge as the expected scale of the industry in 2050 will require the mitigation of 1.8 gigatons of carbon.“I urge governments in the Asia-Pacific region to look at stimulating SAF production. Government incentives for SAF could see 30bn litres of production capacity by 2030. This will also reduce the cost of SAF,” Clifford said and noted, “Japan and Singapore have demonstrated an exemplary approach to SAF. They actively involve the industry in their consultation process, and also promote domestic production of SAF. We urge other States to take similar steps, and to support the efforts to develop a global framework for a Book & Claim system for SAF.”Research has shown SAF can reduce emissions by up to 80% during its full lifecycle. More than 450,000 flights have so far taken to the skies using SAF, IATA data reveal.On its part the ICAO, launched its Assistance, Capacity-building and Training for Sustainable Aviation Fuels (ACT-SAF) programme in June.It will provide tailored support to countries on sustainable fuel development and deployment, and facilitate related partnerships and cooperation around the world.An increasing number of countries and international organisations are becoming actively involved in this programme, which recognises the key role to be played in this endeavour by sustainable fuels, and many more are expected to join in the coming months.To reduce the impacts of aviation on the global climate, countries, the industry, and all other relevant stakeholders have in fact been pursuing a basket of CO2 reduction measures through ICAO for many years now. This contributed to modern aircraft being 70% quieter and 80% more fuel-efficient than their early predecessors.“Achieving net-zero carbon emissions by 2050 will require substantial and sustained investment and financing over the coming decades. We must furthermore assure reliable and affordable support and capacity-building for the many developing countries and States with particular needs, who will be depending on it to help play their part,” ICAO Council President Salvatore Sciacchitano said at the COP 27 in Sharm El-Sheikh, Egypt, recently.National airline Qatar Airways said it is willing to promote SAF if the costs are affordable.Group Chief Executive HE Akbar al-Baker said: “As for me, I will be delighted to fuel my aircraft as much as possible, provided the SAF costs are affordable. Worldwide, there is a huge demand for alternate fuel – sustainable fuels.”In an earlier industry event in Doha, al-Baker had said: “Refining companies should provide adequate sustainable aviation fuel so that the airline industry could buy SAF and meet the emission targets even faster.”“Right now adequate quantities of SAF are not available. At Qatar Airways, we have contacted many refining companies, but they are unable to provide us the quantities of alternate fuel that we want.”Clearly, wider aviation industry is collectively committed to ambitious emissions reduction goals. Sustainable aviation fuel has been identified as one of the key elements in helping achieve these.Therefore, governmental support is essential to using sustainable aviation fuels to achieve the industry's climate goals.

* Qatar is second largest duty-free operator in GCC with revenues of $600mn recorded in 2022, an increase of 74.5% from the previous year   Qatar’s wholesale and retail trade grew at a CAGR of 12.3% between 2015 and 2020 to reach $ 26.7bn, accounting for 15% of the GDP, Alpen Capital has said in its latest report. High level of wealth coupled with rising population, an expanding tourism sector and high investments towards infrastructure development has positioned the country (Qatar) as a promising retail market in the GCC, Alpen Capital said in its ‘GCC retail industry’ report. According to Alpen Capital, Qatar’s organised retail space is currently going through a period of rapid expansion, credited to a strong pipeline of projects in the build-up to several global sporting and business events that are set to take place over the next few years. Qatar remains the richest country in the world with a GDP (PPP) per capita (at constant prices) of $95,273 (as of 2021). Qatar is also regarded as the world’s fastest-growing luxury market as the country’s state-owned investments arm (Mayhoola) holds a majority stake in several high-profile fashion brands including the Italian company Valentino and French company LVMH as well as landmark department stores Harrods and Printemps in London and Paris, respectively. Additionally, Qatar is the second largest duty-free operator in the GCC with revenues of $600mn recorded in 2022, an increase of 74.5% from the previous year. The wholesale and retail trade contribution to GDP has remained stable over the years, indicating the growing importance of the industry within the economy, Alpen Capital noted. Despite the Covid-19 pandemic causing business disruptions, Qatar’s retail industry fared well during 2020 as the majority of stores and malls were allowed to reopen by summer with a range of mandatory health guidelines in place. During this period, the country witnessed several changes in consumer behaviour, especially in terms of buying patterns, spending trends, payment solutions, and utilisation of e-commerce platforms. The use of e-commerce witnessed a significant boost as consumers were forced to stay at home and rely on online channels. As per the Ministry of Transport and Communications, about 60% of the consumers in Qatar signified a desire to shop online. This led to the country’s retailers to restructure their strategy to incorporate online sales platforms, Alpen Capital noted. Consequently, many retailers in Qatar have moved to a blended, omni-channel distribution strategy, which involves boosting and expanding their digital offerings while also maintaining a brick-and- mortar footprint. However, the phased easing of Covid-19 restrictions in 2021 resulted in an encouraging return to pre-lockdown footfall levels in most retail malls. Consequently, the country’s retail market is estimated to have recovered from the slowdown during the pandemic, due to overall economic activity improving during the first year of the pandemic while inflation remained in the negative territory. Recovery can be attributed to the government’s initiatives to contain the pandemic, changes to the visa regulations, and an increased focus towards tourism as the country gears up to host several mega events. In addition to the FIFA World Cup 2022, some of the major international sporting events lined up to take place in the country include the Formula 1, TP Tennis Competition, International Golf Championship, the World Championship of Motorcycles, 2024 World Aquatics Championships, the 2030 Asian Games, European Tour Golf, and the MotoGP among others. Apart from these, Qatar is also vying to host a variety of business forums and conferences as it seeks to establish itself as a business hub in the GCC. Moreover, it has been hosting several events in the run up to the FIFA World Cup 2022 – helping the industry recover from the lows of 2020. Consequently, tourist arrivals in the country increased by 5% y-o-y in 2021 while total travel and tourism spending revenues reached $16.5bn, contributing 10.3% to the country’s GDP – the highest amongst the GCC nations. “All these factors are estimated to have helped revive the retail industry in Qatar,” Alpen Capital noted.

Qatar’s economy has the ability to maintain growth with contributions from hydrocarbon as well as non-hydrocarbon sectors, noted QIIB CEO Dr Abdulbasit Ahmed al-Shaibei. Global rating agencies including Moody’s and S&P have upgraded Qatar’s sovereign ratings recently and maintained stable outlook. “All estimates indicate that Qatar will achieve growth this year, ranging between 4% and 5%. This is considered one of the best rates globally. This must be seen in the backdrop of economic crises we are seeing in some countries around the world,” the prominent Qatari banker said when asked whether the Qatari economy will slow down after the FIFA World Cup Qatar 2022. The North Field expansion will raise Qatar's production capacity of liquefied natural gas to 126mn tonnes annually, which is the largest project in the history of global LNG industry. “We are proud that our country will maintain leadership in the field of liquefied natural gas. For the Qatari banking sector, there are certainly key opportunities that can be tapped in areas such as project financing, which includes pipelines, infrastructure, tankers, storage containers, and processing plants. The Qatari banking sector is a reliable and important partner in various projects that drive the national economy,” al-Shaibei noted. Qatar’s focus on developing knowledge-based and tourism and aviation industries will contribute to its economic diversification initiatives, he said. As for tourism, al-Shaibei said, “It is a sector with great opportunities. Qatar has already become a global tourist destination thanks to phenomenal development in infrastructure, hospitality, and the leadership enjoyed by our national carrier – Qatar Airways. Efforts are being made to turn Qatar into a leading destination in medical tourism, as well as in higher education by attracting students from many countries.” On QIIB’s focus on the local market, he said there are “promising opportunities” in Qatar and the country would remain the bank’s "top priority". “As for external expansion, even if we focus on the local market, we will not neglect opportunities abroad if they are of low risks with potential for good returns. “Currently, we are proceeding with our investment in Morocco through Umnia Bank, which has expanded very well with some 48 branches in the kingdom. Recently, we signed a partnership agreement to establish the Takaful Insurance Company in Morocco in partnership between Atlanta Insurance Company, Moroccan Real Estate and Tourism Loan Bank – CIH and Qatar Islamic Insurance Company. On the Treasury Sukuk launched recently by the Qatar Central Bank (QCB), al-Shaibei said, “The monetary policy of the Qatar Central Bank is managed very wisely. Certainly, the issuance of treasury bonds is a positive matter and considered one of the important tools that enable us as Islamic banks to invest liquidity surpluses, if any.”

 * QIIB CEO said 'detailed plan' drawn up to ensure 'smooth and uninterrupted' banking services during World Cup   Aided by “digital transformation”, QIIB is all set to meet the needs of customers and visitors to the country during the FIFA World Cup Qatar 2022, according to CEO Dr Abdulbasit Ahmed al-Shaibei. “We launched many services within the framework of digital transformation, which constitute a qualitative addition during the World Cup, such as digital contactless payments of various kinds. These include payments through wearable devices ‘Fitbit’ and ‘Garmin’. We also launched digital wallets – Apple pay, Google pay and Samsung pay – which make online and mobile purchases easy,” al-Shaibei said in an interview with Gulf Times yesterday. In order to test the bank’s “ability to withstand the pressure on the services and the network” during the greatest sporting spectacle on earth, al-Shaibei noted, “We conducted stress tests through qualified and specialised companies, and these tests are an essential part of preparing for the World Cup.” The QIIB CEO said a “detailed plan” had been drawn up to ensure “smooth and uninterrupted” banking services during the World Cup. Al-Shaibei said, “To ensure that our fans and customers do not face any issues with regard to money transfer or accessing ATMs during the World Cup, we have made elaborate arrangements. In this respect, we are working closely with money transfer companies and those responsible for feeding the ATMs. “Our call centre is ever alert and is also fully ready to meet the needs of our customers and thousands of fans visiting the country during the World Cup. We are sure; God willing, Qatar’s banking sector is 100% ready to play its role in serving visitors to the fullest during the World Cup," the prominent Qatari banker noted. As an “integral part” of the country’s economic system, Qatari banks, al-Shaibei emphasised, “have a duty and great responsibility” in the success of the World Cup events. “This World Cup is one of the prominent titles that show the prestigious position of the State of Qatar at all levels under the wise leadership of His Highness the Amir, Sheikh Tamim bin Hamad al-Thani. “We at QIIB are ready to provide various banking services during the World Cup, to all fans; whether they are Qatar residents or guests coming from outside. Our role is to facilitate access to banking services for everyone, while they stay in our country. “At QIIB, we have made many preparations for the World Cup as is the case with all banks, in co-operation with the banking sector’s supervisory authorities, who have developed many plans in order to enhance the banking sector’s contribution to the success of the World Cup and provide us with all kinds of required support and assistance,” al-Shaibei noted. Highlighting some of the cutting-edge products and services that QIIB launched this year, he said, "Perhaps the most important thing we have done at QIIB this year is to enhance digital transformation in an unprecedented way. We have turned challenges associated with the pandemic into a golden opportunity to develop our work mechanisms. As a result, most banking services are available through our various digital channels. "Besides Apple Pay, Google Pay and Samsung Pay, we also began issuing digital bank cards and Western Union services (for money transfer to international accounts). On the corporate side, we launched two new corporate branches in key locations - the first on Salwa Road and the second in the New Industrial Area."

Oxford Economics sees Qatar government fiscal surplus at 8.8% this year and in 2023, before falling back to 7.3% in 2024. Credit ratings agency S&P upgraded its rating for Qatar and maintained stable outlook, following on from Moody's positive credit outlook change last week. This, researcher Oxford Economics noted, “reflects the shrinking debt burden as, like the rest of the region, Qatar's economy benefits from higher oil and gas prices, but also an expectation that government spending will moderate in the medium term after the World Cup. Qatar’s inflation will moderate to 2.1% in 2023 from 4.3% this year, Oxford Economics said. The country’s fiscal balance has been forecast at 9% of GDP this year and 9.3% in 2023 by Oxford Economics. The country’s current account surplus, according to Oxford Economics will be 16.8% of its GDP this year and 14.9% in 2023. Qatar’s real GDP growth has been forecast at 3.6% this year and 3.5% in 2023. On COP27 in Sharm el-Sheikh, it said the climate summit has also put the spotlight on climate action in the Middle East. Saudi Arabia has committed $2.5bn worth of spending on green initiatives, including support for renewable energy sources and clean hydrogen production, as the country aims to become a pioneer for climate change. The Arab Co-ordination Group also pledged $24bn by 2030 to fund the energy transition, climate resilience, and energy security in developing countries. Egypt and the UAE also made significant agreements on renewables. With Egypt as the host of this year's conference, the divide between the climate concerns of developing economies and developed economies will be more apparent. Egypt has noted it will steer the COP27 focus to adaptation and climate finance. These issues are more pressing for developing economies given their exposure to physical climate risks and budget constraints amid competing development demands. “We expect COP27 to build on the momentum generated by COP26, but progress has so far been underwhelming. Climate goals remain elusive, and current nationally determined contributions (NDC) pledges will likely lead to significant warming above industrial levels. “The key takeaway for the green transition is that it needs to be just and equitable if developing economies are to actively engage in the climate agenda, and developed economies need to take the lead. Our Sustainable Development Scenario for our Global Climate Service sees the policy burden fall more on advanced economies and those with large emissions,” Oxford Economics noted.    

* The new facility has added five new contact gates, 22 bus gates and improved access and services on 12 existing remote aircraft stands   Newly expanded three-level HIA terminal has added 125,000 square meters to the world-scale airport with five new contact gates, 22 bus gates and improved access and services on 12 existing remote aircraft stands. HIA will therefore continue to operate within a single expansive terminal of 725,000 square meters (previously 600,000 sqm), so passengers can “seamlessly” transfer from one area to another. The newly expanded area will have a brand-new expansive transfer hall- ‘Transfer-C’, which means HIA will now have three transfer halls within the terminal. According to Hamad International Airport, ‘Transfer C’ will ensure minimum connection time for transfer passengers arriving at the North Plaza of the airport and will deliver “unprecedented” levels of security, customer service and efficiency. On November 10, Hamad International Airport opened the newly expanded terminal as part of its ‘Phase A’ expansion, which means the state-of-the-art airport will now be able to cater to 58mn passengers annually. HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani inaugurated HIA’s newly expanded terminal and toured the facility. He was also briefed on HIA’s capacities in terms of receiving incoming and departing passengers, as well as the modern systems used. The Central Concourse project is the extended area of the airport terminal, located at the North Plaza of Hamad International Airport. The focal point of the Central Concourse is the Orchard, which consists of an indoor tropical garden, water feature, retail and F&B, under a grid shell roof. The transfer facility will have some 14 security lanes, a Central Image Processing Room for centralised security inspection and analysis and a transfer hall capacity approximately 5,600 passengers every hour. New scanner features mean passengers do not require passengers to remove either liquids or larger electronic items from their bags. Up to six passengers can load their items into trays at the same time, for faster passenger processing. The new facility incorporates passenger boarding pass scanners prior to screening which will electronically ‘tag’ each passenger’s belongings to boarding card to ensure the belongings are tracked. Once passengers remove their possessions from the tray, the system scans the tray to ensure no items are left behind. The system also incorporates a shoe screening capability conducted in only a few seconds without the need for passengers to remove their footwear. HIA said Orchard is integrated with the existing terminal, so passengers can seamlessly transfer from one area to another. Therefore, the Hamad Airport will continue to operate within a single expansive terminal. The Orchard is connected to the South Plaza (Lamp Bear Area) of HIA via the passenger train and accessible by passengers. It takes 90 seconds to connect the North and South plaza stations (and vice versa). The two stations can also be accessed by travellators, buggies etc. Extensive flora, include more than 300 trees and 25,000 plants and shrubs sourced from sustainable forests from around the world. The designers have developed a column free, long span 85m grid shell roof with performance glass to control and filter the light required to maintain a rainforest with mature trees. The newly expanded terminal houses HIA’s second airport hotel - ‘Oryx Garden’ that will come in handy for passengers during their stopover flights in Doha.

Hamad International Airport (HIA) ‘Phase A’ expansion will cater to 58mn passengers annually, Qatar Airways Group Chief Executive HE Akbar al-Baker said yesterday. He noted that ‘Phase B’ of expansion, which is set to commence in early 2023 will further increase capacity to more than 70mn passengers annually. The newly expanded terminal encompassed a total of nine projects, which includes Central Concourse – The Orchard, retail & F&B, Oryx Garden Hotel and North Plaza Lounges, Al Mourjan Business Lounge, Remote Transfer Baggage Facility (RTBF) building and system, Virtual Air Traffic Control Tower, Western Taxiway and Stand Development works, Western Fuel Farm and Midfield Fuel Farm expansion works and Cargo Bridging. With sustainability at the core of HIA’s plans, the airport has managed to have four of the expansion projects achieve a 4-star rating under the Global Sustainability Assessment System (GSAS) from Gulf Organisation for Research & Development (Gord). This includes the Orchard, Oryx Garden Hotel & north plaza lounges, Al Mourjan Business lounge – the Garden and the Remote Transfer Baggage Facility. HIA Phase B expansion will increase capacity to more than 70mn passengers and include new concourses and cargo terminal. New Concourses: a 95,000sq m plus extension of Concourses D & E to fulfil the final expansion of the passenger terminal connecting to the Orchard and converting adjacent remote aircraft stands to contact gates. A new western Satellite Concourse of approximately 300,000sq m converting the 34 remote aircraft stands to contact gates with an automated people mover connection to passenger terminal.  New Cargo Terminal 2 (CT2) will be a dedicated transfer cargo facility designed to handle 3.3mn tonnes per annum. It will be located on a 300,000sq m plot beside the existing Cargo Terminal in the HIA Midfield Area with a built-up area of circa 240,000sq m divided over three material handling floors and four office floors.

Hamad International Airport (HIA) has opened the newly expanded terminal as part of its ‘Phase A’ expansion, which houses the second airport hotel and ‘Orchard’ – an indoor tropical garden that has sourced 300-plus trees and 25,000 plants from sustainable forests around the world. Consisting of ‘one expansive’ terminal, the airport will welcome passengers with facilities and services curated for all ages. The expansion now enables travellers to ‘seamlessly transfer’ from one area to another, ‘exploring the wonders that HIA has to offer with its infused warmth and hospitality’. HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani inaugurated the expansion of HIA yesterday. He toured the new passenger terminal and was briefed on its capacities in terms of receiving incoming and departing passengers, as well as the modern systems used, the official Qatar News Agency (QNA) reported. He was also briefed on the various facilities and equipment and the related development in all operational processes in order to receive travellers, Qatar’s guests, and fans of the FIFA World Cup Qatar 2022. HE the Prime Minister and Minister of Interior was accompanied by a number of ministers and senior officials.  The expansion is in line with the expected flow of visitors and fans for the FIFA World Cup Qatar 2022. It will facilitate aircraft movement and air control, in conjunction with the requirements of operational intensity during the World Cup, which is only a few days away. This will enhance the opportunities to meet the increasing demand for individual travel and air freight, QNA added. From discovering new flavours with exquisite fine dining to exploring the depths of the art collections and luxurious shops – the airport continues to actively enrich travellers’ experiences with tranquillity and profound culture. According to HIA, the airport’s expanded operations will greatly reduce waiting time, thanks to the new transfer hall on concourse C (Transfer Hall C) – the level of security, customer service and efficiency will allow passengers to smoothly arrive and depart the award-winning airport. In the expanded terminal, Qatar Duty Free is offering world-class retail and F&B options with more than 65 retail and dining outlets spread across its three levels. F&B options at the HIA expansion includes over 20 cafes and restaurants offering delicious local and global cuisines for an ultimate dining experience. To Page 2 The retail and F&B offer at the expansion features many world firsts and exclusives, including a ‘Fendi Boutique’ with the first ‘Fendi Café’ in an airport, and the first ‘Ralph’s Coffee Shop’ in an airport. The North node also houses the world’s first ‘Oreo Café’ in an airport. The enhanced retail offer also includes an unrivalled selection of luxury boutiques, including the first Dior Boutique at HIA, only FIFA Shop in the world, Thom Brown (only store in an airport), largest Ray Ban store (in an airport), and a lineup of prestigious brands such as flagship Louis Vuitton Boutique, Gucci, Burberry, Tiffany and Co., and Bvlgari. Passengers travelling through HIA will be able to explore hundreds of curated experiences all under one roof, surrounded by a true architectural and tropical masterpiece. As part of the overall expansion, HIA has launched the second airport hotel within its transfer area, the ‘Oryx Garden’ hotel. Located in the north plaza, the 100-room hotel focuses on sustainability, with rooms ranging from king to twin, as well as suites strategically located moments away from the boarding gates. To enhance the overall experience at the Oryx Garden Hotel, guests can use the passenger train to visit the near-by Oryx Airport Hotel in the south plaza should they want to use its ‘Vitality Wellbeing Spa and Fitness Centre’. The centre features a 25-metre swimming pool, gym, spa and squash court. As part of the expansion project, HIA has four brand new lounges for passengers to relax and unwind, namely ‘Al Mourjan Business Lounge- The Garden’, ‘Al Mourjan Business Lounge- North’, ‘Platinum and Gold lounge- North’ and ‘Silver Lounge – North’. Addressing a media event at the newly expanded terminal, Qatar Airways Group Chief Executive HE Akbar al-Baker stated, “We are very pleased to be launching the expansion of Hamad International Airport, an airport that has truly grown to become the ultimate example of a successful, sustainable global facility. “HIA continues to impress with its innovative planning, execution and investment – enhancing its position as the preferred hub for global travellers and reinforcing HIA’s position amongst the top leaders of this industry. The opening of our newly expanded terminal further connects the growing number of travellers to all corners of the world, enriching people’s experiences and proudly representing the State of Qatar’s rich culture and prestige.”   Commenting on the expansion, HIA Chief Operating Officer Badr Mohamed al-Meer said, “We are immensely proud to officially launch our airport expansion. Our growth plan will see us welcome over 58mn passengers annually – offering global travellers the best services the industry has to offer. “Through the expansion, we have upgraded our facilities and offerings – creating the ultimate destination for passengers. From world-class services to endless F&B and retail offerings, the expansion further strengthens our ambition as we look towards maintaining our status as the best airport in the world.”

•    Newly expanded terminal caters to 58mn passengers annually     Hamad International Airport (HIA) ‘Phase A’ expansion will cater to 58mn passengers annually, Qatar Airways Group Chief Executive HE Akbar al-Baker said on Thursday. He noted that ‘Phase B’ of expansion, which is set to commence in early 2023 will further increase capacity to more than 70mn passengers annually. The newly expanded terminal encompassed a total of nine projects, which includes Central Concourse-(The Orchard, retail & F&B, Oryx Garden Hotel and North Plaza Lounges, Al Mourjan Business Lounge, Remote Transfer Baggage Facility (RTBF) building and system, Virtual Air Traffic Control Tower, Western Taxiway and Stand Development works, Western Fuel Farm and Midfield Fuel Farm expansion works and Cargo Bridging. With sustainability at the core of HIA’s plans, the airport has managed to have four of the expansion projects achieve a 4-star rating under the Global Sustainability Assessment System (GSAS) from Gulf Organisation for Research & Development (GORD). This includes the Orchard, Oryx Garden Hotel & north plaza lounges, Al Mourjan Business lounge- the Garden and the Remote Transfer Baggage Facility. HIA Phase B expansion will increase capacity to more than 70mn passengers and include new concourses and cargo terminal. New Concourses: a 95,000sqm plus extension of Concourses D & E to fulfill the final expansion of the passenger terminal connecting to the Orchard and converting adjacent remote aircraft stands to contact gates. A new western Satellite Concourse of approximately 300,000 square meters converting the 34 remote aircraft stands to contact gates with an automated people mover connection to automated people mover connection to passenger terminal. New Cargo Terminal 2 (CT2) will be a dedicated transfer cargo facility designed to handle 3.3mn tonnes per annum. It will be located on a 300,000m2 plot beside the existing Cargo Terminal in the HIA Midfield Area with a built up area of circa 240,000m2 divided over three material handling floors and four office floors. Ends    

S&P estimates a 55% year-on-year rise in Qatar’s hydrocarbon revenue in 2022, with non-hydrocarbon revenue also buoyed by the additional economic activity associated with the World Cup and recovery after the Covid-19 pandemic. High oil prices should result in strong government surpluses in 2022-2023, at about 13% of GDP in 2022 and 6% in 2023. The general government balance includes the central government's budgetary position, and small deficits of about 0.2% of GDP at the social security system level. In the first six months of 2022, the fiscal surplus was recorded at QR47bn, compared with a budgeted deficit of QR8.3bn for the year, S&P said in its ratings upgrade report. On November 4, S&P Global Ratings raised its long-term foreign and local currency sovereign credit ratings on Qatar to 'AA' from 'AA-' and affirmed its short-term foreign and local currency sovereign credit ratings at 'A-1+'. The outlook is stable. As S&P oil price estimates fall to $55/b, it expects a deficit of about 4% of GDP on average in 2024-2025. “We expect government revenue to continue to be largely driven by gas production and oil prices. We also expect government expenditure to remain broadly flat, at about 30% of GDP over 2022-2025. During the four years to 2019, expenditure averaged about 35% of GDP. “Our expectation of additional expenditure restraint over the forecast period through 2025 largely relates to our assumption that government spending on capital projects of about 10% of GDP in 2022 will decline to about 7% of GDP by 2025, given that many large infrastructure projects will have been completed, such as Doha's new metro and tram system.” According to S&P the government intends to reduce its overall debt-to-GDP ratio and to rebalance the share of foreign currency debt in the total, aiming for 50%, down from 58% in 2021. “We expect the government's debt-repayment strategy to reduce total general government debt to 27% of GDP by 2025, from 49% in 2022. “The government will repay the debt from cash surpluses partly accumulated from past Eurobond issuance. The government's net asset position will remain a rating strength, averaging 110% of GDP over 2022-2025.”

Beyond the Tarmac Air cargo demand has softened and declined in the recent months due to multiple headwinds around the world. High inflation levels and the increasing fear of an economic recession have had a negative impact on the global flows of goods and services. In addition, the ongoing war in Ukraine still affects cargo capacity, with a number of important air cargo carriers directly impacted. As most of the world’s regions recover from the pandemic, post-pandemic consumer spending habits are likely to lean towards vacation travel more than home shopping via e-commerce, International Air Transport Association (IATA) said in a recent report. The most recent data on global goods trade show that trade maintained a similar year-on-year (y-o-y) growth rate at 5.2% in September. This stable trade performance is a positive signal to the world economy. Any easing of Covid-19 restrictions in China including factory reopening will support the global trade recovery. However, most of the uptake in trade since this year has benefited maritime, which has been growing in line with the global trade. Air cargo growth slightly narrowed the gap, with a one percentage point increase in its relative performance compared with the previous month. The Purchasing Managers' Index (PMI) of new export orders – historically a leading indicator for air cargo shipments – remained below the critical 50 line, suggesting continued contractions across the board. The shrinking in international export demand extended into September for US, Japan and South Korea, IATA noted. Meanwhile, China contracted for a third month in a row, signalling the impact of the country’s Covid-related restrictions on air cargo activities. Regarding Germany, the PMI decreased for the 7th consecutive month since March, marking the largest contraction since mid-2020. The global PMI contracted for a third month in a row to its lowest level in two years, weighing upon outlook for air cargo demand in the near future. Global demand, measured in cargo tonne-kilometres (CTKs), fell 10.6% compared to September 2021 (-10.6% also for international operations), but continued to track at near pre-pandemic levels (-3.6%). Capacity was 2.4% above September 2021 (+5.0% for international operations) but still 7.4% below September 2019 levels (-8.1% for international operations. Year-on-year inflation, as measured by the Consumer Price Index (CPI) for the G7 countries was 7.7% in September, a 0.2 percentage point (ppt) increase from the August level, remaining at a decade high level. Inflation in producer (input) prices, however, continued to slow down for a second month, to 13.7% in August. Oil is an important contributor to producer prices, and a major cost to airlines directly. The Brent crude oil price decreased further in September and continues to stabilise at a level of around $88.2 per barrel. The jet crack spread remains unusually wide at around $42 per barrel, though it has come off its high of $64 per barrel set in June. Middle Eastern carriers experienced a 15.8% year-on-year decrease in cargo volumes in September 2022. This was the worst performance of all regions and a significant decline compared to the previous month (-11.3%). Stagnant cargo volumes to/from Europe impacted the region’s performance. Capacity was down 2.8% compared to September 2021. And Asia-Pacific airlines saw their air cargo volumes decrease by 10.7% in September 2022 compared to the same month in 2021. This was a decline in performance compared to August (-8.3%). Airlines in the region continue to be impacted by the conflict in Ukraine, labour shortages, and lower levels of trade and manufacturing activity due to Omicron-related restrictions in China. Available capacity in the region increased by 2.8% compared to 2021. “While air cargo’s activity continues to track near to 2019 levels, volumes remain below 2021’s exceptional performance as the industry faces some headwinds,” points out Willie Walsh, IATA’s Director General. At the consumer level, he noted that with travel restrictions lifting post-pandemic, people are likely to spend more on vacation travel and less on e-commerce. And at the macro-level, increasing recession warnings are likely to have a negative impact on the global flows of goods and services, balanced slightly by a stabilisation of oil prices. “Against this backdrop, air cargo is bearing up well. And a strategic slow-down in capacity growth from 6.3% in August to 2.4% in September demonstrates the flexibility the industry has in adjusting to economic developments,” Walsh said.

Oil market may remain tight even as oil demand softens amid weaker global economic activity and uncertainties, National Bank of Kuwait (NBK) has said in a report. Oil prices recovered in October, boosted by the Opec+ decision to cut production by 2mn barrels per day for 14 months effective November. Opec+’s announcement has helped put a floor on prices and, in tandem with expected supply shortfalls and moderate supply gains from Russia and non-Opec countries including the US, respectively, the market should remain tight even as oil demand softens amid weaker global economic activity, it said. International benchmark Brent crude ended the month trading at $94.8/barrel, posting a first monthly gain, of 7.8% month-on-month, in five months. US crude marker West Texas Intermediate closed the month up almost 9% at $86.5. October’s oil price recovery occurred despite concerns about the health of the global economy amid aggressive central bank monetary tightening, surging consumer prices, the destabilising conflict in Ukraine and relatively weak Chinese economic activity, NBK said. The latter has been aggravated by repeated Covid-19 mobility restrictions and a property sector downturn. The International Monetary Fund‘s (IMF) October World Economic Outlook forecast that world GDP growth would slow from 3.2% this year to a downwardly revised 2.7% in 2023. There is a 25% chance that year-ahead growth could drop below 2%. “The outlook for the oil market is mired in uncertainty,” NBK said and noted while oil demand is softening in line with weakening global economic growth, it is the supply side that has the greatest potential to spring surprises. The impending EU oil embargo on Russian seaborne crude and refined products could lead to the shutting-in of substantial volumes of Russian supply — even after barrels are diverted at a heavy discount to Russia’s largest customers China, India and Turkiye. In tandem with Opec+ supply cuts, the market is expected to tighten in 2023, with stock draws expected from mid-2023 onwards. The IEA sees the ‘call on Opec’ in 2023 higher than the group’s likely production during the year, especially in the absence of higher Iranian or Venezuelan supply. “We expect risks to oil prices to be on the upside,” NBK added.

Qatari banks external debt is expected to drop by 8% this year, S&P said and noted there may be a broad stabilisation over the next couple of years. This, S&P said will be due to many factors including high oil prices that should result in stronger domestic deposit growth than was seen over the past few years. S&P also expects Qatari banks financing needs to ease as several large infrastructure projects are delivered. New central bank rules, it said have increased reserve requirements for short-term non-resident deposits and the weight of non-resident deposits in the calculation of bank's liquidity coverage and the net stable funding ratios, which will deter banks from using external sources to grow their balance sheets further. According to S&P, risks related to Qatar's high level of non-resident deposits previously materialised in 2017, when $22bn - the equivalent of 14% of 2017 GDP and about 20% of total external liabilities - left the Qatari banking system after a group of Arab and African states imposed a blockade on Qatar. “We understand that most of the deposits were withdrawn when they matured, and that around one-third of them related to the boycotting nations. The authorities - mostly the QIA - compensated the Qatari banks by providing about double the amount of funds that had left the system, namely, $43bn, or 27% of 2017 GDP,” S&P noted. Beyond the risks stemming from banks' short-term external funding profiles, the financial system coped well with the pandemic and the subsequent withdrawal of forbearance measures. “We expect credit losses will remain elevated in 2022, at around double their pre-pandemic rates of 50 basis points (bps). Rising interest rates should support profitability and bolster already strong levels of capitalisation.” Like other countries, inflation has increased in Qatar and S&P expects the consumer price index to increase by 5.5% on average in 2022. Amid rising inflation, the QCB increased the repurchase rate by 300 bps since the beginning of the year to 4% following the rate hikes by the US Federal Reserve. S&P anticipates an acceleration in GDP growth this year as non-hydrocarbon sectors such as tourism, transport, and construction benefit from Qatar's hosting of the FIFA World Cup, which is expected to bring in about 1.2mn tourists. Economic growth thereafter is likely to be relatively soft through 2025. Government investment, much of which is outside the hydrocarbon sector, will gradually decline, with major infrastructure projects nearing completion. S&P forecasts that GDP growth will accelerate toward 5% in 2022 as Qatar hosts the FIFA World Cup, before moderating toward 2% in 2023-2025. Qatar's ambitious plans to increase LNG capacity should boost GDP growth over 2026-2027, after which growth should moderate with production plateauing at the new higher level beyond 2027. “We do not expect significant policy shifts over the forecast period through 2025, and we expect improved regional co-operation to continue,” S&P said. S&P recently raised its long-term sovereign credit rating on Qatar to 'AA' from 'AA-', assigned a stable outlook, and affirmed the country’s 'A-1+' short-term rating.

* High oil prices will support Qatar’s strong fiscal and external balances in 2022-2023, ratings agency said in a report High oil prices will support Qatar’s strong fiscal and external balances in 2022-2023, S&P Global said as the ratings agency expects a general government surplus of about 13% of GDP in this year, driven by a sharp increase in revenue. S&P noted that Qatar's current account will remain in a very strong surplus in 2022-2023, supported by higher prices for its gas exports. The current account and fiscal deficit, it said will weaken over 2024-2025 because it assumes oil prices will decline to $55 per barrel. “We expect lesser reliance on short-term banking sector external funding will help reduce the country's external liquidity needs somewhat,” S&P said. Qatar derives about 40% of its GDP, 80% of government revenue, and 90% of exports from the hydrocarbon sector. This makes the country's credit profile vulnerable to volatility in oil prices, to which most of its long-term gas contracts are linked. S&P forecasts are based on the expectation that the Brent oil price will average just above $100/b for 2022, $85/b for 2023, and $55/b for 2024 and thereafter. According to the ratings agency, high oil prices should result in strong government surpluses in 2022-2023, at about 13% of GDP in 2022 and 6% in 2023. The general government balance includes the central government's budgetary position, and small deficits of about 0.2% of GDP at the social security system level. In the first six months of 2022, the fiscal surplus was recorded at QR47bn, compared with a budgeted deficit of QR8.3bn for the year. “We estimate a 55% year-on-year rise in hydrocarbon revenue in 2022, with non-hydrocarbon revenue also buoyed by the additional economic activity associated with the World Cup and recovery after the Covid-19 pandemic. As S&P oil price estimates fall to $55/b, it expects a deficit of about 4% of GDP on average in 2024-2025. The implementation of value-added tax is a possibility during 2023-2024, but may be delayed amid current inflationary pressures. “We expect government revenue to continue to be largely driven by gas production and oil prices. We also expect government expenditure to remain broadly flat, at about 30% of GDP over 2022-2025.” During the four years to 2019, expenditure averaged about 35% of GDP. S&P expectation of additional expenditure restraint over the forecast period through 2025 largely relates to its assumption that government spending on capital projects of about 10% of GDP in 2022 will decline to about 7% of GDP by 2025, given that many large infrastructure projects will have been completed, such as Doha's new metro and tram system. The government intends to reduce its overall debt-to-GDP ratio and to rebalance the share of foreign currency debt in the total, aiming for 50%, down from 58% in 2021. “We expect the government's debt-repayment strategy to reduce total general government debt to 27% of GDP by 2025, from 49% in 2022. The government will repay the debt from cash surpluses partly accumulated from past Eurobond issuance. The government's net asset position will remain a rating strength, averaging 110% of GDP over 2022-2025,” S&P said. S&P projects that the current account will maintain a surplus of 23% of GDP on average over 2022-2023, before moderating to about 3% of GDP over 2024-2025, in line with its oil price assumptions. The high level of assets accumulated within the sovereign wealth fund, the QIA, will continue to support Qatar's strong external position. “We estimate that, on average, Qatar's external liquid assets will surpass external debt by about 80% of current account payments in 2022-2025,” S& P said.