Business

Under its commitment to fostering technological creativity and entrepreneurship among youth and supporting promising tech talents, Qatar Science & Technology Park (QSTP), part of Qatar Foundation (QF), has held the second edition of its flagship ‘QSTP Ride & Pitch’ programme during QSTP AI Week 2024.This edition of QSTP Ride & Pitch welcomed 34 student participants from universities across Qatar, including Hamad Bin Khalifa University (HBKU), a member of QF, as well as QF partner universities Northwestern University in Qatar (NU-Q), Carnegie Mellon University in Qatar (CMU-Q), and Georgetown University in Qatar (GU-Q), along with Qatar University, University of Doha for Science & Technology (UDST), and Northumbria University.The programme also engaged 14 homegrown startups focused on AI technologies.Through a series of expert-led workshops, participants were given opportunities to broaden their understanding and hone their skills in essential areas of entrepreneurship such as the art of pitching and the various stages of product development.More than 10 mentors including startup founders and experts from organisations like HBKU’s Qatar Computing Research Institute (QCRI), UDST, and QSTP, worked closely with the participants offering them personalised guidance to enhance their innovative ideas and strengthen their entrepreneurial skills.The programme culminated with a pitching competition on a moving tram inside QF’s Education City where participants presented their ideas to a panel of judges within the time restriction of two minutes.The format of the competition was specially designed to familiarise participants with the thrill, unpredictability, and pressure that startup founders often experience, particularly at the start of their entrepreneurial journey.Dr Jack Lau, president of QSTP, said: “At QSTP, we pride ourselves on being a home for entrepreneurs — a place where ideas are nurtured, and bold ambitions are transformed into impactful ventures. The QSTP Ride & Pitch programme is not just about pitching ideas; it's an event to see and to be seen. It’s a platform for entrepreneurs to showcase their vision, connect with potential investors and collaborators, and gain invaluable feedback from a diverse and experienced audience.“This year's edition is particularly exciting, as it comes during our AI Week, which has welcomed more than 3,000 registered visitors from all over the world. The diversity of participants and the authenticity of their AI-driven ideas reflect the boundless potential of technology to create value for society. This global interest underscores QSTP’s growing reputation as a hub for innovation and a launchpad for entrepreneurial success.”The top three winners for each category were awarded during the closing ceremony of QSTP AI Week 2024. In the student category, a team from UDST clinched the first position for their innovative solution, Trash-E, focused on waste management using AI.Waqas Behzad, one of the team members, said: “It’s great to see organisations like QSTP inspiring young entrepreneurs and startups to use modern technologies to form innovative solutions. Such programmes are especially important in Qatar as the nation is committed to diversifying its economy – advancing tech entrepreneurship is sure to yield considerable results.”iCareCC, a digital platform and a chatbot that connects researchers with practitioners from the energy industry through an AI-matching system, secured first place in the startup category.Mohamad Baalbaki, founder of iCareCC and a graduate of HBKU, said: “The programme was very insightful. We had the chance to learn about diverse perspectives, receive mentorship, and hone our skills in product development as well as pitching. After winning first place amongst all participating startups, I feel more motivated to further develop my idea and take it to the market.”

The Qatar Free Zones Authority (QFZ) has been awarded the prestigious 'Building Project of the Year' at the MEED Projects Awards 2024 for its groundbreaking Regional Distribution Hubs in Ras Bufontas Free Zone.QFZ said in a statement that this highly prized accolade is a clear recognition of QFZ's unwavering dedication to delivering world-class infrastructure that drives economic growth and encourages international investment.The award-winning Regional Distribution Hubs embody QFZ's vision of creating advanced, future-ready facilities that cater to a wide range of growing industries. Designed to the highest of international standards, the hubs position Qatar’s free zones as a premier global destination for business and investment, aligned with the Qatar National Vision 2030.Held in Dubai, the MEED Projects Awards celebrated exceptional achievements in construction and infrastructure across the Mena region. Winning this award is a direct result of QFZ's leadership in delivering sustainable, cutting-edge infrastructure that empowers businesses to succeed in a rapidly evolving global market.Speaking on the achievement, Manager of Engineering Services at QFZ, Ali Khalid al-Hajri, said: "This recognition is a proud moment for all of us at QFZ. It is truly inspiring to see the vision behind the Regional Distribution Hubs come to life and make such a positive impact. We've worked hard to design and deliver facilities that are not only functional but also sustainable and innovative. These hubs are created to meet the real needs of global investors, providing them with the connectivity, efficiency, and support they require to grow their businesses."Strategically located near Hamad International Airport, the Regional Distribution Hubs offer unparalleled connectivity and operational efficiency.

Turkiye’s new requirement for money-market funds to allocate at least 10% of their portfolios to government bonds is set to channel billions of liras into Treasury debt, driving up demand for the short end of the yield curve.Given that such funds have combined assets of 1.18tn liras, the mandate means they will need to allocate about 100bn liras ($2.9bn) to government bonds. Currently, the securities make up less than 2% of the portfolios, according to Tufan Comert, global markets strategy executive director at BBVA in London.The move could help to ease the Treasury’s cost of borrowing, as rise in demand could lead to bull steepening in the yield curve — where short-term bond yields drop more sharply than long-term ones. The announcement has sent the country’s 10-year sovereign yield toward a fourth day of declines and the biggest monthly drop in a year.“While the rule primarily affects short-term bonds due to maturity constraints, the increased liquidity could also have a broader impact across the yield curve.” said Onur Ilgen, head of treasury at MUFG Bank Turkiye in Istanbul.The yield on Turkiye’s lira government bond maturing in April 2025 fell by 75 basis points to 41.95% since Thursday, while the yield on the two-year benchmark bond declined 100 basis points to 40.26%.Money-market funds in Turkiye primarily invest in highly liquid instruments with maturities of up to 184 days. Fund managers now face the dual challenge of re-balancing portfolios and sourcing the required notes in a constrained market. The Capital Markets Board announced the rule change last week, requiring compliance by the end of February 2025.“This will create substantial demand for short-term bonds or TLRef-indexed bonds that pay coupons quarterly,” Turgutalp Gunal, a portfolio manager at Azimut Portfoy in Istanbul, said referring to the Turkish Lira Overnight Reference Rate. However, the limited supply of such securities in the secondary market may prompt an increase in government-bond auctions, he added.

The Ministry of Communications and Information Technology (MCIT) has announced the winners of Qatar Digital Business Award 2024 during a ceremony held in the attendance of HE the Minister of Communications and Information Technology Mohammed bin Ali al-Mannai.This edition of the award celebrated digital creativity and innovation while supporting the enhancement of companies' technological capabilities and service quality standards to compete regionally and internationally, in line with Qatar National Vision 2030.Speaking at the awards ceremony, HE al-Mannai emphasised the vital role of modern digital technologies such as artificial intelligence, cloud computing, and 5G networks in strengthening the national economy. He highlighted the importance of promoting a diverse and competitive digital economy driven by innovation and entrepreneurship."As Qatar progresses toward a diversified economy, we recognise SMEs and entrepreneurs as key drivers of digital innovation. A thriving digital economy relies on a skilled workforce capable of addressing challenges. Over the past decade, Qatar has doubled the number of digital specialists to reach around 21,000, demonstrating our commitment to developing digital skills and supporting this transformation," al-Mannai added.He also emphasised that this years edition of Qatar Digital Business Award reflects the Ministry's commitment to recognising creative individuals, institutions, and companies for their significant contributions to service delivery, digital adoption, innovation, and entrepreneurship.This year, the award expanded to feature 14 categories, encompassing various aspects of the digital sector. Four new categories were introduced to address the evolving needs of the market and promote greater diversity within the award. The list of winning companies included ADGS Computer Systems for Research and Development Excellence, SkipCash for Best Smart Solution, Mannai for Best Smart Solution, Sponix Tech LLC for Best AI Solution, Wellkins Medical Center for Best Digital Transformation, Wqtah QSTP for Best Company in Digital Commerce, Qatar Chemical Company LTD for Best Digital Transformation, Hamad Mubarak Al Hajri for Entrepreneur of the Year, Cytomate for Best Cybersecurity Solution, Malomatia for Best Cybersecurity Solution, Meeza QSTP LLC for Best ICT Services Provider, Hamad International Airport (DOH) for Best AI Solution, QNB for Best Digital Experience, M Care Technology for Startup of the Year, Adeer Solution LLC for Best Mobile App, Techno Q for Best Systems Integrators.Commenting on the significance of the award, Assistant Undersecretary of Digital Industry Affairs at MCIT, Reem al-Mansoori said: "This years edition of Qatar Digital Business Award stood out for the strong competition across various categories, reflecting the remarkable growth of creativity in the digital sector. It also highlights the significant progress in digital technology adoption across both the public and private sectors. We look forward to even greater creativity and innovation next year, reaffirming our commitment to supporting the diversity and growth of the digital economy and strengthening Qatar’s leadership in digital fields."She also extended her gratitude to the award partners, including the Ministry of Commerce and Industry (MoCI), Qatar Development Bank (QDB), Qatar Financial Centre (QFC), the National Cyber Security Agency (NCSA), Qatar Research, Development and Innovation Council (QRDI), and Qatar Free Zones Authority (QFZ). Al-Mansoori also acknowledged the distinguished sponsors, Cisco Networking Academy, Qatar National Broadband Network, PwC, and Al Sharq newspaper for their contributions to the award's success and their dedication to advancing digital innovation and technological development in Qatar.This year, the award received 303 applications from 132 companies and organisations across diverse sectors. The winners were selected based on competitive criteria following a rigorous evaluation process conducted by an independent jury of 23 digital experts.Qatar Digital Business Award is an annual national platform designed to accelerate digital transformation in Qatar, encourage the adoption of digital technologies, and foster the exchange of expertise among stakeholders. It also plays a vital role in building a knowledge-based economy, aligning with the goals of Qatar National Vision 2030.

Donald Trump's tariff threats have rattled foreign businesses and governments, with many fearing it could signal the opening salvo of an all-out trade war when he returns to the White House next year.The president-elect on Monday placed both allies and rivals on notice, vowing to quickly slap an across-the-board tariff of 25% on Canada and Mexico, and add a 10% tariff on China.Following through on that threat — or his campaign promise of a 10% levy on all US imports — will spark retaliation and have ripple effects across the global economy, analysts say."Our assumption is that all these other countries, all these other advanced economies, especially in Asia, they will retaliate in kind," economist Bernard Yaros of Oxford Economics told AFP.US tariffs and retaliation including from Europe and Asia would "depress growth" and trade flows, he said, estimating a cut to global growth of 0.1 to 0.9 percentage points in 2026.Even before tariffs take effect, threats weigh on sentiment and could delay investments and hiring, ING economists Ruben Dewitte and Inga Fechner warned in a note.Trump has long viewed tariffs as a negotiating tool — or an "all-purpose bludgeon" as a recent Wall Street Journal editorial put it.On Monday, Trump said that the tariffs on Mexico and Canada would only be removed when illegal immigration and drug trafficking to the US are stopped.While seeking to build US leverage, he also risks longer term impacts, with some suggesting he would push countries toward China, Columbia Law School professor Petros Mavroidis said."What he definitely does is alienate all his allies," he told AFP.Erin Murphy, senior fellow at the Center for Strategic and International Studies, said in Trump's threats "there is no differentiation" regarding countries' economic development status or affinity with Washington.Europe could be particularly impacted, Dewitte and Fechner said, warning that "a looming new trade war could push the eurozone economy from sluggish growth into recession." EU tariffs on car imports were a particular target of Trump during his campaign.But US reliance on the bloc for strategically important products, mainly in the chemical and pharmaceutical sectors, could give the EU some leverage in talks, ING said."European countries will be less likely to strike any kind of bargain with Trump than Canada or Mexico," said Peterson Institute for International Economics nonresident senior fellow Gary Hufbauer.He expects the EU could offer to reduce auto tariffs and buy more US agricultural products like soybeans, but it may not be enough for an administration seeking greater market access or rules exemptions.Should the US impose tariffs, the EU will probably retaliate on iconic US goods like iPhones, he said.European countries could turn to the World Trade Organisation (WTO), though even favorable rulings from the international body may not significantly change US practices.EU chief Ursula von der Leyen has said she will work towards "constructive cooperation" with US authorities.Jovita Neliupsiene, the EU ambassador to the US, meanwhile said the bloc is ready to respond to new trade frictions.In Asia, economies like Japan and South Korea could be targeted over metals and auto exports, while Vietnam may also draw US scrutiny over solar panels, Yaros said.The US trade deficit with Vietnam has widened in recent years on a surge in goods imports.Yaros said that countries targeted by Trump's tariffs, in seeking to avoid escalation, will "retaliate in a way that's commensurate to the action done by the US, but no greater." China, based on precedent, might eschew equal retaliation for tools like export controls, he added.Daniel Russel of the Asia Society Policy Institute said both Tokyo and Seoul are very focused on preparing for potential tariffs.He expects partners like South Korea could seek exemptions from blanket US tariffs, for example, by citing its high-tech investments in America.

Saudi Arabia is expecting to run budget deficits in coming years as a trade-off for investing in ways to secure long-term benefits for the non-oil sector.The energy-rich kingdom is forecasting a fiscal deficit of about 2.8% of gross domestic product this year, and hasn’t given guidance for a return to positive territory. At the same time, the country has taken on massive investment commitments to fund Crown Prince Mohammed bin Salman’s Vision 2030 agenda to diversify the economy away from crude.In previous years, “we were trying to get our finances and financial management in order so we focused on zero-deficit,” Faisal al-Ibrahim, the kingdom’s minister of economy and planning told Bloomberg Television on Wednesday. “After that, we realized that a deficit by design in a stable region between 2% and 3% is good for investing in the right economic sectors.”The kingdom’s focus on accelerating the growth of the non-oil sector, the main driver of new jobs, has created an equilibrium between oil and non-oil activities in terms of their contribution to the economy. Non-crude related activities account for about 52% of GDP, al-Ibrahim said, and “we expect this to go higher and higher.”“These represent structural shifts that take sometimes decades to achieve,” the minister said.Still, the Saudi government is exercising some caution — scaling back some Vision 2030 projects, in part because oil prices remain far below what’s needed to balance the budget. The country also outlined plans to trim spending in 2025 after overshooting its targets this year.Saudi Arabia’s economic growth is forecast to be 0.8% this year, rising to 4.6% in 2025, according to the budget.The non-oil sector is expected to grow more robustly at between 4%-5% in coming years, with Moody’s Investors Service upgrading Saudi Arabia for the first time this month, citing “the development of non-hydrocarbon sectors at a faster pace” as one of the reasons for the elevation.

The US Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said.The probe was approved by FTC Chair Lina Khan ahead of her likely departure in January. The election of Donald Trump as US president, and the expectation he will appoint a fellow Republican with a softer approach toward business, leaves the outcome of the investigation up in the air.The FTC is examining allegations the software giant is potentially abusing its market power in productivity software by imposing punitive licensing terms to prevent customers from moving their data from its Azure cloud service to other competitive platforms, sources confirmed earlier this month.The FTC is also looking at practices related to cybersecurity and artificial intelligence products, the source said on Wednesday.Microsoft declined to comment on Wednesday.Competitors have criticised Microsoft's practices they say keep customers locked into its cloud offering, Azure. The FTC fielded such complaints last year as it examined the cloud computing market.NetChoice, a lobbying group that represents online companies including Amazon and Google, which compete with Microsoft in cloud computing, criticised Microsoft's licensing policies, and its integration of AI tools into its Office and Outlook."Given that Microsoft is the world's largest software company, dominating in productivity and operating systems software, the scale and consequences of its licensing decisions are extraordinary," the group said.Google in September complained to the European Commission about Microsoft's practices, saying it made customers pay a 400% mark-up to keep running Windows Server on rival cloud computing operators, and gave them later and more limited security updates.The FTC has demanded a broad range of detailed information from Microsoft, Bloomberg reported earlier on Wednesday.The agency had already claimed jurisdiction over probes into Microsoft and OpenAI regarding competition in artificial intelligence, and started looking into Microsoft's $650mn deal with AI startup Inflection AI.Microsoft has been somewhat of an exception to US antitrust regulators' recent campaign against allegedly anticompetitive practices at Big Tech companies.Facebook owner Meta Platforms, Apple, and Amazon.com Inc have all been accused by the US of unlawfully maintaining monopolies.Alphabet's Google is facing two lawsuits, including one where a judge found it unlawfully thwarted competition among online search engines.Microsoft CEO Satya Nadella testified at Google's trial, saying the search giant was using exclusive deals with publishers to lock up content used to train artificial intelligence.It is unclear whether Trump will ease up on Big Tech, whose first administration launched several Big Tech probes. JD Vance, the incoming vice-president, has expressed concern about the power the companies wield over public discourse."The Trump administration was an aggressive enforcer of the antitrust laws," said Andre Barlow, a lawyer with Doyle Barlow & Mazard, noting it filed suits against Google and Facebook."When administrations change, the agencies do not necessarily drop ongoing investigations," he added, noting that "changes in administration can lead to evolving enforcement priorities and shifts in how aggressively certain types of conduct are scrutinised." Still, Microsoft has benefited from Trump policies in the past.In 2019, the Pentagon awarded it a $10bn cloud computing contract that Amazon had widely been expected to win. Amazon later alleged that Trump exerted improper pressure on military officials to steer the contract away from its Amazon Web Services unit.

Total mortgage transactions in Qatar reached QR6.8bn during the third quarter (Q3) of 2024, according to researcher ValuStrat.This reflects an increase of 7.9% compared to the same period last year.In the third quarter, Qatar’s real estate market witnessed some 227 mortgage transactions across all asset classes of ready properties, a decrease of 8.5% year-on-year (YoY).Doha Municipality contributed to the highest number of mortgage transactions with 90 contracts valued at QR4.6bn, followed by 69 deals in Al Rayyan amounting to QR1.6bn.In its latest report, ValuStrat noted that total residential stock in Qatar during the third quarter (Q3) of the year was approximately 396,000 units, with apartments accounting for 248,000 and villas totalling 148,000.An estimated 410 housing units were delivered during the quarter in the form of mid-rise residential buildings and standalone villas.The 2024 supply forecast includes 7,000 apartments, notable projects include Corniche Park Towers (240), Thirty-Five Tower (245), Gewan Island (586), Fox Hills and Erkyah (570), and mixed developments in Doha (850).Some 4,000 residences are anticipated to be delivered next year with approximately 40% concentrated in Lusail, ValuStrat noted.In Q3, 2024, the volume of transactions for residential houses decreased by 18% quarter-on-quarter (QoQ) and 15% compared to last year.The median ticket size of residential houses was QR2.6mn, down by 7% quarterly and 1.9% year-on-year (YoY).Top transacted areas for residential houses was Al Wukair, Umm Qarn, Nuaija and Al Khor.The Pearl Island and Al Qassar witnessed a jump of 18% in their total transaction value and a 28% increase in their volume QoQ.The median monthly rental rate for residential apartments remained stable quarterly, but fell 4.7% YoY.Median monthly lease value for apartments was QR6,000, observing no change since last quarter but declined by 5.5% yearly.For one-bedroom apartments, the median monthly lease rate was QR5,000, for two-bedrooms QR6,250, and for a three-bedroom QR8,000.Rents in West Bay and Lusail dropped by 3% and 5% respectively compared to the last quarter, ValuStrat noted.Al Wukair, Al Mashaf, and Al Thumama cumulatively were the top contracted areas with 3,552 leases, measuring an increase of 12% since last quarter.The median rent for villas increased by 1.1% QoQ and remained stable when compared to last year.Rents in Al Duhail, Al Gharrafa, Al Waab, and Al Wakra measured a slight increase compared to last quarter.The median monthly rate for a three-bedroom villa was QR11,750, for a four-bedroom villa QR12,250, and for a five-bedroom villa QR14,000.More than 5,200 villa lease contracts were signed during Q3, 2024, which reflected an increase of 3.4% YoY.New tenancies accounted for 93% of the total agreements.Cumulatively, Soudan, Aziziya, Ghanim, and Murrah were the top rented areas with some 672 contracts, a jump of 27% since Q2, 2024, the report noted.Anum Hassan, head of Research (Qatar) at ValuStrat noted, “The third quarter indicated continued stability across Qatar’s real estate market. While certain high-end areas experienced increased rental rates for larger bedroom units, the primary observation is that the market remained notably steady throughout the period.”The ValuStrat Price Index held consistent with the prior quarter at 96.6 points and showed no significant annual shift. Benchmarked to a base of 100 points set in Q1, 2021, the apartment index registered at 97.5 points and villas at 96.3 points, with valuation prices in both categories showing no quarterly or yearly fluctuations.She added, “While Q3 presented a stable real estate landscape, market signals suggest a measured outlook for the coming months, hinting at a mix of steady performance with selective areas of optimism.”

A Bank of Canada official said policymakers aim to keep inflation near their 2% target, and pushed back on the idea that officials should slow price gains further or cause deflation.Deputy Governor Rhys Mendes said it was reasonable to expect further cuts to interest rates if inflation and the economy continue to evolve as forecast but said that the timing and pace of further cuts would be guided by incoming data.He offered little new guidance on the near-term path for borrowing costs, reiterating that policymakers “no longer need interest rates to be as restrictive as they were.”Mendes said policymakers would be “looking closely” at third-quarter gross domestic product data released later this week, as well as November employment data. Traders in overnight swaps put the odds of another 50 basis point cut at about one third.In his first speech as deputy governor, Mendes also justified the bank’s aggressive interest rate-hiking cycle, saying the increase in borrowing costs was necessary to cool excess demand during a supply shock.The central bank’s campaign was successful in part due to the primacy of the 2% inflation target, Mendes said, and longer term inflation expectations didn’t drift too much higher during the pandemic and subsequent run up in prices.“The presence of excess demand in the economy amplified the inflationary effects of supply shocks. By eliminating excess demand, we were able to stop that.”“We believe inflation will once again fade into the background as it settles back at 2%,” he said. In prepared remarks, Mendes also explained that costs of deflation or a sustained period of below-target inflation would be harmful. The central bank isn’t aiming to bring yearly price pressures significantly below the 2% target, he said.“It would take a pretty big hit to the economy to get a meaningfully lower level of prices,” and the trade-off would “like leave most people feeling worse off,” Mendes said. The central bank cut borrowing costs by half a percentage point in October, bringing the benchmark overnight rate to 3.75% after starting to lower interest rates from 5% in June.“We’ve restored low inflation. We now need to ensure it stabilizes near the 2% target. We need to stick the landing,” Mendes said.Mendes pointed out that while inflation is back to normal, “it may not feel that way for many people.” His comments echoed remarks on Monday by Finance Minister Chrystia Freeland, who said Canada may be in a “vibecession” as positive macroeconomic data isn’t changing Canadians’ gloomy mindsets.Freeland’s government has tried to counter this national mood, and turn around its sinking poll numbers, by announcing a temporary halt to the federal sales tax on some items starting Dec. 14 and promising to send C$250 checks to nearly 19mn Canadians in the spring. The Bank of Canada, meantime, has sought to defend its actions during the pandemic and the ensuing period of high prices to Canadians who had previously paid little attention to inflation or monetary policy.The central bank plans to release a review of its response to Covid-19 in the new year.Mendes’s speech appears aimed at those Canadians, particularly those questioning whether the central bank’s rate hikes were really necessary given the supply shocks that helped drive up inflation, and those now wondering if a period of deflation might give them some desperately needed affordability relief.

Qatar Free Zones Authority (QFZ) has been awarded the prestigious ‘Building Project of the Year’ at the MEED Projects Awards 2024 for its groundbreaking Regional Distribution Hubs in Ras Bufontas Free Zone.The highly prized accolade is a clear recognition of QFZ’s unwavering dedication to delivering world-class infrastructure that drives economic growth and encourages international investment. The award-winning Regional Distribution Hubs embody QFZ’s vision of creating advanced, future-ready facilities that cater to a wide range of growing industries.Designed to the highest of international standards, the hubs position Qatar’s free zones as a premier global destination for business and investment, aligned with the Qatar National Vision 2030.Held in Dubai, the MEED Projects Awards celebrated exceptional achievements in construction and infrastructure across the MENA region. Winning this award is a direct result of QFZ’s leadership in delivering sustainable, cutting-edge infrastructure that empowers businesses to succeed in a rapidly evolving global market.Ali Khalid al-Hajri, manager of Engineering Services at QFZ, said: “This recognition is a proud moment for all of us at QFZ. It is truly inspiring to see the vision behind the Regional Distribution Hubs come to life and make such a positive impact. We’ve worked hard to design and deliver facilities that are not only functional but also sustainable and innovative.“These hubs are created to meet the real needs of global investors, providing them with the connectivity, efficiency, and support they require to grow their businesses. For us, this award isn’t just about infrastructure—it’s about creating opportunities for companies and industries to succeed in Qatar.”Strategically located near Hamad International Airport, the Regional Distribution Hubs offer unparalleled connectivity and operational efficiency. This infrastructure is one of the key components of QFZ’s attractiveness to foreign direct investment and fosters partnerships with leading global companies in logistics, advanced technologies, manufacturing, and other key sectors.QFZ’s recognition at the MEED Projects Awards reinforces its role as a global leader in developing free zones that prioritise sustainability, competitiveness, and innovation. By consistently exceeding international standards, QFZ positions itself as a cornerstone of the Mena region’s economy and ensures Qatar’s free zones remain among the world’s most sought-after business destinations.

Qatar Chamber, in co-operation with the First International Development Centre, recently organised a three-day training programme titled ‘Credit Management and Debt Collection’.Held for the first time in Qatar, the programme discussed several aspects of credit management and debt collection. Topics included the basics of credit management, debt collection, and the 10 elements of credit and risk management, as well as collection strategies from businesses and individuals.The sessions also addressed the tasks of the collection officer, professional obligation, customer rights and evaluation, and the development of credit policies. The programme further discussed statutory attribution and legal reinforcement in accordance with the regulations in force in Qatar.The 21 attendees of the programme included financial experts, business owners, financial department employees, and consultants.

A Bank of Canada official said policymakers aim to keep inflation near their 2% target, and pushed back on the idea that officials should slow price gains further or cause deflation.Deputy Governor Rhys Mendes said it was reasonable to expect further cuts to interest rates if inflation and the economy continue to evolve as forecast but said that the timing and pace of further cuts would be guided by incoming data.He offered little new guidance on the near-term path for borrowing costs, reiterating that policymakers “no longer need interest rates to be as restrictive as they were.”Mendes said policymakers would be “looking closely” at third-quarter gross domestic product data released later this week, as well as November employment data. Traders in overnight swaps put the odds of another 50 basis point cut at about one third.In his first speech as deputy governor, Mendes also justified the bank’s aggressive interest rate-hiking cycle, saying the increase in borrowing costs was necessary to cool excess demand during a supply shock.The central bank’s campaign was successful in part due to the primacy of the 2% inflation target, Mendes said, and longer term inflation expectations didn’t drift too much higher during the pandemic and subsequent run up in prices.“The presence of excess demand in the economy amplified the inflationary effects of supply shocks. By eliminating excess demand, we were able to stop that.”“We believe inflation will once again fade into the background as it settles back at 2%,” he said.In prepared remarks, Mendes also explained that costs of deflation or a sustained period of below-target inflation would be harmful. The central bank isn’t aiming to bring yearly price pressures significantly below the 2% target, he said.“It would take a pretty big hit to the economy to get a meaningfully lower level of prices,” and the trade-off would “like leave most people feeling worse off,” Mendes said.The central bank cut borrowing costs by half a percentage point in October, bringing the benchmark overnight rate to 3.75% after starting to lower interest rates from 5% in June.“We’ve restored low inflation. We now need to ensure it stabilizes near the 2% target. We need to stick the landing,” Mendes said.Mendes pointed out that while inflation is back to normal, “it may not feel that way for many people.” His comments echoed remarks on Monday by Finance Minister Chrystia Freeland, who said Canada may be in a “vibecession” as positive macroeconomic data isn’t changing Canadians’ gloomy mindsets.Freeland’s government has tried to counter this national mood, and turn around its sinking poll numbers, by announcing a temporary halt to the federal sales tax on some items starting Dec. 14 and promising to send C$250 checks to nearly 19mn Canadians in the spring.The Bank of Canada, meantime, has sought to defend its actions during the pandemic and the ensuing period of high prices to Canadians who had previously paid little attention to inflation or monetary policy. The central bank plans to release a review of its response to Covid-19 in the new year.Mendes’s speech appears aimed at those Canadians, particularly those questioning whether the central bank’s rate hikes were really necessary given the supply shocks that helped drive up inflation, and those now wondering if a period of deflation might give them some desperately needed affordability relief.

Many energy exporters are adopting improved asset utilisation and embracing predictive analytics for dynamic shipping adjustments in light of recent canal disruptions, according to Al-Attiyah Foundation’s latest Energy Research Paper.“Geopolitics and Climate Shifts: Canal Disruptions and the Emergence of New Energy Trade Routes,” underscores how recent canal disruptions are shaping new strategies in global energy logistics.Climate impacts and geopolitical events have reduced transit capacity in major channels, with daily Suez Canal shipments down by 50% since early 2024, and Panama Canal shipments constrained by a 32% reduction since October 2023.To mitigate these challenges, energy exporters are diversifying their routes, notably using the Cape of Good Hope, despite the higher operational costs associated with these longer journeys.The report emphasises that, while historically short-lived, such disruptions are becoming increasingly routine. This marks a shift as canal access is now susceptible to climate-induced factors like drought, which has severely impacted the Panama Canal, and security risks in regions like the Red Sea.Such factors are expected to persist, leading the energy market to integrate contingency plans, such as advanced logistics systems that enable faster rerouting and enhance real-time decision-making capabilities. Strategies like dynamic scheduling and intermodal transport can increase flexibility based on real-time data and market forecasts to help adjust shipping plans quickly.The current Red Sea crisis has inadvertently led to improved asset utilisation, with minimal idle time for container ships and tankers as they connect with alternate modes of transportation to allow for more efficient transfers and reduce costs.Additionally, the increased reliance on alternative routes has presented both logistical and financial challenges. Routing around the Cape of Good Hope, for instance, raises fuel costs and extends delivery times, affecting overall trade flow volumes.However, technological improvements in ship efficiency and enhanced tracking systems are helping to mitigate some of these costs, reducing idle time for vessels and streamlining cargo movement.The Al-Attiyah Foundation report notes that recent improvements in shipping capacity and management have kept charter rates relatively stable, even amidst these extended trade routes.Despite the rise in shipping costs due to these changes, energy prices have remained resilient. The report states that this stability is due to lower-than-expected demand coupled with ample supply. Mena energy exporters, particularly those in the Gulf Cooperation Council (GCC) region, are maintaining steady trade flows through strategic adjustments in trade routes, helping to balance global energy supplies.Furthermore, the report highlights proactive measures in the industry, such as Saudi Arabia's use of the East-West Pipeline to bypass the disrupted Bab el-Mandeb strait, preserving its exports to Europe.Other exporters, including Qatar, are actively investing in new LNG carriers and expanding fleet capacity to support their shipping flexibility. The growing interest in resilient infrastructure solutions, like electric and hybrid vessels, and practices like just-in-time co-ordination, showcases how energy markets are pivoting toward sustainable, resilient supply chain models that can withstand external disruptions.The Al-Attiyah Foundation’s report concludes that while these rerouting strategies help stabilise the energy trade in the short-term, the ongoing climate and security challenges could lead to long-term shifts in global energy routes.The findings underscore the need for continued investment in adaptive infrastructure and logistics innovations, ensuring a robust and responsive energy supply chain.

An across the board profit booking pressure on Wednesday dragged the Qatar Stock Exchange (QSE) more than 46 points and its key index settled below 10,400 levels.The Gulf institutions were seen increasingly into net selling as the 20-stock Qatar Index shed 0.45% to 10,361.45 points, although it touched an intraday high of 10,426 points.The foreign institutions were also seen increasingly bearish in the main bourse, whose capitalisation melted QR3.45bn or 0.56% to QR613.655bn primarily on the back of small and microcap segments.The Arab individuals’ weakened net buying had its influence in the main market, which saw as many as 1,500 ETFs or the exchange traded funds (sponsored by AlRayan Bank and Doha Bank), valued at QR0.01mn change hands across two deals.The telecom, transport and consumer goods counters witnessed higher than average selling pressure in the main bourse, whose trade turnover and volumes were on the increase.The Islamic index was seen declining slower than the other indices of the main bourse, which saw as much as 72% of the traded constituents in the red.However, the domestic funds were seen increasingly net buyers in the main market, which saw no trading of treasury bills.The local retail investors turned bullish in the main bourse, which saw no trading of sovereign bonds.The Total Return Index shed 0.45%, the All Islamic Index by 0.38% and the All Share Index by 0.48% in the main market.The telecom sector index tanked 1.12%, transport (1.04%), consumer goods and services (0.61%), industrials (0.49%), realty (0.48%), banks and financial services (0.33%) and insurance (0.16%).Major losers in the main bourse included Aamal Company, Inma Holding, Qatar Oman Investment, Ooredoo, Al Faleh Educational Holding, QNB, Woqod, Mesaieed Petrochemical Holding, Milaha and Nakilat. In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Meeza, Qatari Investors Group, Commercial Bank, AlRayan Bank and Qatar General Insurance and Reinsurance were among the gainers in the main market. In the junior bourse, Al Mahhar Holding saw its shares appreciate in value.The Gulf institutions’ net profit booking increased substantially to QR30.12mn compared to QR9.45mn on November 26.The foreign institutions’ net selling expanded drastically to QR19.59mn against QR7.84mn the previous day.The Arab retail investors’ net buying weakened perceptibly to QR1.54mn compared to QR3.25mn on Tuesday.However, the domestic institutions’ net buying strengthened noticeably to QR31.38mn against QR22.8mn on November 26.The Qatari individuals turned net buyers to the tune of QR11.54mn compared with net sellers of QR3.02mn the previous day.The foreign retail investors were net buyers to the extent of QR6.07mn against net sellers of QR1.28mn on Tuesday.The Gulf individual investors’ net selling declined markedly to QR0.8mn compared to QR4.45mn on November 26.The Arab institutions had not major net exposure for the eighth straight session.Trade volumes in the main market shot up 8% to 97.06mn shares, value by 32% to QR317.69mn and transactions by 35% to 12,631.In the venture market, trade volumes more than doubled to 0.16mn equities and value also more than doubled to QR0.42mn on 84% jump in deals to 35.(Ends)

Alfardan Exchange has been awarded the 2024 Arab Banking Excellence and Achievement award by the World Union of Arab Bankers, recognising it as the most reliable company specialised in money transfers in Qatar.The award was presented during a ceremony held at the Four Seasons Nile Plaza in Cairo on November 20, 2024, attended by prominent figures from the Arab banking and financial sector."This award is a testament to our continuous efforts in delivering high-quality financial services. We are committed to introducing innovative solutions that further solidify our leading position in the market," said Bashar al-Waqfi, chief executive officer of Alfardan Exchange.This award reflects Alfardan Exchange's commitment to providing outstanding and secure services in remittances, foreign currency exchange, and the sale of bullion and gold coins.The company has strengthened client trust both locally and internationally through innovation and efficiency in its financial services.Alfardan Exchange remains dedicated to delivering exceptional services, focusing on meeting the evolving needs of clients and reinforcing transparency and reliability in all its financial dealings.

Qatar Airways, the global partner and official airline of Formula 1, is commemorating the imminent Qatar Airways Qatar Grand Prix with a limited-edition capsule of F1-inspired premium loungewear, and dining options onboard the award-winning airline.This year’s Qatar Airways Qatar Grand Prix will be held from November 29-December 1, at the Lusail International Circuit.Qatar Airways first class and business class passengers will be presented with sleek limited edition F1 branded loungewear in black and grey respectively.Shirts for first and business class passengers showcase the iconic F1 branding elements featured on both the front and back. The loungewear is also now paired with plush inner sole slippers for enhanced passenger comfort.Premium dining options are also provided to guests on F1-themed menu cards, along with F1-themed desserts and chocolates evoking the thrill and excitement of the race.Economy class dining is supplemented with special cutlery bands and tray mats, along with F1-inspired chocolates offered as a snack.Bringing the fan experience to the skies, Qatar Airways is offering these in-flight experiences on select routes to and from Africa, Asia, Europe, North America, and the Middle East.Qatar Airways senior vice president (Product Development) Xia Cai said, “Qatar Airways is delighted to usher in this year’s Qatar Airways Qatar Grand Prix with our latest limited-edition collectible. Designed for enhanced passenger comfort, our premium loungewear reflects our partnership with Formula 1, which is built on the shared principles of innovation, precision, and luxury. This new launch is the perfect precursor for global fans to soak in the excitement being held at the leading Lusail International Circuit this weekend.”With 24 stops on the 2024 circuit – the most in F1 history – Qatar Airways and F1 are committed to bringing amazing experiences to fans all over the world. Qatar Airways is the Title Partner of four races this year including Qatar Airways Austrian Grand Prix 2024, Qatar Airways British Grand Prix 2024, Qatar Airways Azerbaijan Grand Prix 2024 and Qatar Airways Grand Prix 2024.

Higher airfares will have a range of economic, social, and environmental impacts such as inflationary pressure, reduced demand for travel, increased costs for businesses and strain on lower-income travellers.A recent report said global airfares are set to become more expensive in 2025 even as gains moderate with ticket prices reflecting higher costs and lingering supply-chain disruptions.According to an American Express Global Business Travel Group (GBT) forecast, the slower climb in ticket expenses is a levelling off from this year’s steep post-Covid increases, the global corporate travel manager said in its annual report on the cost of flying.Fares on most routes will rise, though the size of the increases will likely vary greatly by region. North America and Europe are expected to see more “modest” increases of around 2% while Asia and Australasia, among the last regions to unwind pandemic curbs, are set to see rises of close to 14%.While airlines are largely more bullish about demand in 2025, their near-term efforts to add capacity remain hampered by delays in both new Airbus and Boeing planes, as well as longer servicing of jet engines that prevent more aircraft from taking to the skies.Increases in ticket prices next year are likely to more than erase any decreases before 2024, meaning some fares may return to post-pandemic highs, Bloomberg News calculations based on the Amex GBT data show.The key drivers pushing up airfares include rising wages and staffing shortages, particularly with the ongoing labour disputes in North America and the cost of fuel amid ongoing geopolitical tensions, the report added.According to analysts, higher air transportation costs will result in increased costs of goods and services, potentially fuelling inflation.Obviously, increased air cargo costs will escalate prices for high-value, time-sensitive goods such as electronics and pharmaceuticals. This could contribute to global inflation and disrupt supply chains.Higher airfares increase the cost of transporting perishable or high-value goods, making exports from remote regions less competitive.Higher airfares are likely to discourage discretionary travel, leading to fewer leisure and non-essential business trips. This could negatively impact airlines, tourism sectors, and related industries such as hotels, restaurants and local attractions.In particular, countries that are heavily reliant on international tourism will face reduced visitor numbers, impacting their hotels, restaurants, and local businesses. This could slow GDP growth and increase unemployment in tourism sectors.Companies that rely on frequent business travel will face higher expenses, potentially leading to cost-cutting measures like reducing trips or shifting to virtual meetings.Higher prices disproportionately affect budget-conscious travellers, reducing their access to air travel for work, education, or family visits.From an industry perspective, airlines might target high-margin segments such as business and luxury travellers to maintain profitability.Dwindling demand will force carriers to reduce the frequency of flights, trim routes, or adopt fuel-efficient technologies to mitigate costs.Airlines may explore alternative fuel sources or more efficient aircraft to manage rising operational costs and maintain affordability in the long term.The global body of airlines- International Air Transport Association or IATA says factors such as high jet fuel prices, sustainability initiatives, and fleet upgrades continue to pressure airfare levels. These could lead to a moderate rise in fares globally, estimated at 3%-7%, though regional variations may occur.IATA has underscored the importance of addressing supply chain disruptions, regulatory compliance costs, and geopolitical tensions, which could significantly affect industry economics and ticket prices.While IATA is optimistic about stabilising fares and improving industry resilience, external cost pressures and geopolitical dynamics remain critical factors in shaping airfare trends.

In a landmark move, Spain has fined five budget airlines a total of €179mn for what it calls "abusive practices" that exploit consumers. The penalties, the largest ever imposed by the Spanish Consumer Rights Ministry, target practices such as charging passengers for hand luggage, seat reservations, and other hidden fees.Ryanair, Europe's largest low-cost carrier, received the heftiest fine of €108mn. EasyJet followed with a €29mn penalty, while Vueling, Norwegian, and Volotea were fined €39mn, €1.6mn, and €1.2mn respectively.Spain’s Consumer Rights Ministry accused these airlines of misleading passengers and failing to provide transparent pricing, which undermines consumers' ability to compare ticket prices effectively. According to the ministry, these practices constitute violations of both Spanish and EU laws.Michael O’Leary, CEO of Ryanair, has strongly opposed the decision, labelling it as “illegal” and “baseless.” O’Leary vowed to appeal the fines, potentially taking the matter to EU courts. Other airlines, including EasyJet and Norwegian, have also indicated their intention to challenge the penalties. The Spanish airline association, ALA, has joined the chorus of opposition, arguing that the decision infringes upon EU free market regulations.The ministry’s crackdown was partly fuelled by consumer frustration over what many view as the erosion of basic travel rights. Ryanair was singled out for a range of practices, including charging passengers for larger carry-on luggage, seat selection, and even printing boarding passes at the airport, which the ministry described as “disproportionate” fees.“It is an abuse to charge €20 for just printing the boarding card at the airport, [it's] something no one wants,” said Andrés Barragán, Spain’s secretary general for consumer affairs.Advocacy groups like Facua, which has campaigned against these fees for years, hailed the decision as “historic” and a major victory for consumers across Europe.The fines bring into sharp focus the business model of low-cost airlines, which has long depended on offering ultra-cheap base fares while charging for a slew of additional services. While these airlines have arguably help revolutionise air travel by making it affordable for millions, their reliance on ancillary revenue streams has drawn criticism.For budget carriers like Ryanair and EasyJet, ancillary revenues — fees for services like checked luggage, priority boarding, seat selection, and in-flight purchases — are a lifeline. These fees can make up a significant portion of their income. In 2023, Ryanair derived over 40% of its total revenue from such charges.The strategy is deliberate. By offering low upfront fares, these airlines attract cost-conscious travellers, but they recoup their profits through charges for everything beyond the seat itself. For instance, a passenger might pay €20 for a ticket, only to find the final cost increasing to over €100 once baggage, seat selection, and other extras are added.This approach, while effective, has raised questions about transparency. Critics argue that the practice of “unbundling” services makes it harder for consumers to understand the true cost of their travel. It’s this lack of clarity that Spain’s Consumer Rights Ministry sought to address with its fines.Spain’s actions reflect growing frustration among consumers across Europe. Many feel trapped by policies that force them to pay for essentials like carry-on luggage or sit next to their travelling companions. Families, in particular, often find themselves having to pay extra to ensure that children are seated with their parents—a practice the Spanish ministry has vowed to ban outright.The move also highlights a broader trend towards increased regulatory scrutiny of budget airlines. Consumer protection groups have long argued that these carriers take advantage of loopholes in EU legislation, and Spain’s decision could set a precedent for similar actions in other countries.Barragán underscored the international relevance of the issue, noting: “This is a problem consumers are facing not only in Spain but in other EU countries.”Unsurprisingly, the fines have sparked a strong backlash from the airline industry. Ryanair’s O’Leary defended his company’s business practices, arguing that the fees in question help keep fares low. "Ryanair has for many years used bag fees and airport check-in fees to change passenger behaviour, and we pass on these cost savings in the form of lower fares to consumers,” he said.The Spanish Airline Association (ALA) echoed these sentiments, describing the fines as nonsensical and detrimental to the free market. Industry insiders argue that removing the ability to charge for extras could force budget carriers to raise their base fares, potentially undoing decades of progress in making air travel accessible to the masses.In the US, a similar debate is being heard. From 2018-2023, five US airlines made more than $12bn on seat selection fees alone, an “unbundled” cost that used to be included as part of an airline ticket. This week, a report, from the Senate Permanent Subcommittee on Investigations, said that in 2023, United Airlines charged as much as $319 for an extra legroom seat, Spirit Airlines charged as much as $299, Delta Air Lines charged as much as $264, Frontier Airlines charged $141 and American Airlines charged as much as $140.“Seat fees have grown more expensive and farther-reaching,” it said. “These five airlines charge passengers extra for additional legroom, aisle and window seats, or even selecting a seat in advance, compelling parents with minor children to pay to sit together.”The 55-page report comes as the outgoing Biden Administration takes a victory lap for its crackdown on airlines by ramping up consumer protections. Earlier this month, the Department of Transportation announced it would begin enforcing a new rule that requires airlines to provide automatic refunds to passengers for cancelled or significantly delayed flights.The report detailed measures some airlines took to ensure passengers pay for carry-on bags. It stated that ultra-low-cost carriers Frontier and Spirit shelled out $26mn in incentives to spur agents in 2022 and 2023 “to catch passengers allegedly not following airline bag policies, often forcing those passengers to pay a bag fee or miss their flight.”“Frontier personnel can earn as much as $10 for each bag a passenger is forced to check at the gate,” the report said. “One Frontier official told the Subcommittee that bag policy enforcement was necessary because the airline does not want customers to be taking more or ‘stealing’ from the airline.”Frontier acknowledged the practice in a statement to CNN. “The commission for gate agents is simply designed to incentivise our team members to ensure compliance with bag size requirements so that all customers are treated equally and fairly, including the majority who comply with the rules,” the statement said.The Senate Permanent Subcommittee on Investigations says it will hold a hearing with officials from American, Delta, United, Frontier and Spirit next week.The author is an aviation analyst. X handle @AlexInAir.

Spirit Airlines Inc joined a lengthy list of US carriers to succumb to financial pressure when it filed for bankruptcy protection on November 18. In doing so just before the busiest travel stretch of the year in the US, the company generated anxiety among ticket holders about whether they’d make it to their destinations for the Thanksgiving holiday.Under Spirit’s so-called Chapter 11 bankruptcy filing, the airline isn’t shutting down but rather reorganising in an effort to keep the business alive. Spirit told customers that flight operations would continue as normal at the 84 airports it serves and that they could use all tickets, credits and loyalty points as if nothing happened.What is Spirit’s plan?The carrier filed what’s known as a prearranged bankruptcy, meaning it reached an agreement with a majority of its creditors to restructure its $1.6bn in debt. Existing bondholders will get stock and new debt in the carrier. Stockholders will get nothing, which happens in nearly all big, corporate bankruptcies, including airline cases. Spirit didn’t respond to a request for comment.How did Spirit end up in bankruptcy?Some of Spirit’s issues are particular to its class of carrier — those focused on low-fare domestic service. Thanks to billions of dollars in government aid, larger rivals emerged from the pandemic in better shape than they had in previous downturns, during which domestic-focused, low-fare carriers historically had gained market share. The major carriers then hired thousands of pilots away from airlines such as Spirit to fill holes created when a record number of aviators took early retirement or walked away from the industry. Spirit’s staffing issues were compounded when a round of post-pandemic labour contracts boosted pilot pay at the carrier by 34% over two years.Discounters such as Spirit are under added pressure because the industry’s largest carriers now sell basic economy fares designed specifically to lure away price-conscious travellers while also offering more flights and destinations.Some of Spirit’s difficulties are industry-wide. Airlines bulked up on flying capacity when travel soared in 2022 and 2023, but they overshot demand in the US market and were forced to slash fares to fill planes. The situation blocked carriers from raking in higher profits during record demand this past summer.Finally, Spirit is among the airlines that have been forced to ground planes because of a manufacturing flaw in engines made by RTX Corp’s Pratt & Whitney. The repairs will take longer than normal because of supply chain bottlenecks and parts shortages. On August 1, Spirit said 60 of its aircraft would be grounded in 2025 for work that would take more than 400 days for each repair. The carrier has 213 aircraft, with 182 in service, according to data from Cirium. It has reached an agreement with Pratt on some compensation, with talks ongoing.Wasn’t Spirit supposed to merge with another airline?In February 2022, Spirit agreed to be acquired by rival Frontier Group Holdings for $2.9bn in cash and stock, a deal that would have created a massive US fare discounter. But JetBlue Airways Corp made a counteroffer in April, triggering a testy battle for shareholder support that stretched until July, when Spirit ended the Frontier deal and agreed to a $3.8bn JetBlue purchase. In January 2024, a federal judge blocked the acquisition on the grounds that it would stifle competition and raise fares. Like Spirit, JetBlue and Frontier are unprofitable.What’s the future of Spirit Airlines?The US industry has a long history of bankruptcies that allow airlines to reset their debt and emerge without stopping operations. The nation’s largest — American Airlines Group Inc, Delta Air Lines Inc, United Airlines Holdings Inc — all have been through Chapter 11 bankruptcies, along with Continental Airlines, US Airways, Trans World Airlines and Frontier. Some carriers have been acquired during bankruptcies and some, mostly smaller ones, have failed.The benefit of Spirit’s prearranged filling, which largely avoids creditors fighting in bankruptcy court over who gets paid what, is that the carrier could emerge from Chapter 11 during the first quarter of 2025. Its reorganization plan must still be approved by a bankruptcy court judge, and there’s likely to be some opposition from shareholders.What’s changing at Spirit?A post-bankruptcy Spirit would be a smaller airline. It’s already agreed to sell 23 of its Airbus SE planes, furlough nearly 500 pilots and cut unprofitable routes.The carrier hired what it described as a “world recognised” advertising agency as well as a brand adviser to help it shed its reputation as one of America’s most disliked airlines.It has already joined its peers in adding premium options to its offerings, a response to a growing preference for them among US travellers — particularly younger ones. The discounter now has fares with options including extra leg room and priority check-in.

Al Mahhar Holding has formally submitted its application to the Qatar Financial Markets Authority (QFMA) to transfer its shares from the venture market to the main market of the Qatar Stock Exchange.The transfer is subject to obtaining the required regulatory approvals.This move comes after shareholders approved the board's proposal at the company's general assembly meeting held on November 18, 2024.At the meeting, shareholders authorised the chairman to sign the application for the transfer, submission of the transfer application to the QFMA, and to complete all necessary procedures for the transfer with the respective regulatory authorities on behalf of the company.The proposed transfer to the main market reflects Al Mahhar Holding’s commitment to aligning with the highest standards of governance, transparency, market practices, and aims to further enhance its visibility and trading liquidity, benefiting shareholders and strengthening the company’s position as a leader in Qatar's energy and infrastructure servicing sectors.Maroon Capital Advisory is advising Al Mahhar Holding on the transfer process to the QSE's main market