Analysis

Passing the torch: A film festival that brought Qatar global recognition evolves
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One of Doha’s more visible efforts to enhance its reputation as a hub for media and entertainment was, until recently, the Doha Tribeca Film Festival (DTTF). Established in 2009 as a vehicle to promote Arab and international films, the festival was staged in partnership with Tribeca Enterprises, the New York-based global media company founded by Robert De Niro in 2003. The presence in Qatar of star…

Analysis

Enticing incentives: The Qatar Financial Centre offers several perks for investors
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The Qatar Financial Centre (QFC) was established in 2005 in order to attract international financial institutions and multinational corporations to establish businesses in international banking, financial services, insurance, corporate head office functions and related services. The QFC has two authorities, the QFC Authority (QFCA) and the QFC Regulatory Authority (QFCRA), which are independent of…

Analysis

Fighting fraud: Steps to protect organisations
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In a world of increasing regulatory scrutiny, the need for effective corporate measures to mitigate the risk of fraud is more important than ever. Although companies in Qatar may be better insulated than some from the effects of economic troubles, businesses should still consider their fraud risks. Defining Fraud Fraud can be defined as “the intentional use of deceit to deprive another party of…

Analysis

Paid in full: A more in-depth look at local tax regulations
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The current tax rules in Qatar are governed by Law No. 21 of 2009, which came into force with effect from January 1, 2010. The executive regulations, effective from July 1, 2011, contain the detailed rules related to the administration of the tax regime. The Public Revenues and Taxes Department (PRTD) also issues circulars from time to time to provide guidance on the interpretation of provisions in…

Analysis

Making progress: Foreign investors can enjoy various advantages in new economic zones
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Despite its small size, Qatar has become a magnet for regional investment over the past decade. Foreign investment in Qatar is governed by Law No. 13 of 2000 (the Foreign Investment Law), which is applied to non-Qatari nationals who wish to undertake business in Qatar. In addition to the flexibility offered by this law, foreign investors may benefit from several incentives presented by the Qatari government. Ownership…

Overview

Steady progress: With plentiful resources the government is working to make the most of the country’s potential
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As the forest of construction cranes now visible all around Doha strikingly illustrates, the state of Qatar is currently rolling out one of the largest infrastructure development programmes to be found anywhere in the world. Yet only a few decades ago, this small peninsular state, located halfway along the Gulf coast, was still something of a regional and international backwater. Today though, Qatari…

Overview

Ongoing improvements: The bourse has undergone a rapid evolution in terms of both technology and options for investors
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Regional political turbulence since 2011 has resulted in a challenging environment for exchanges across the GCC, but Doha’s relatively young bourse has shown its resilience over 2013. It has also continued to implement a strategic development plan which has established new indices and a junior market for small and medium-sized enterprises (SMEs). The reward for its efforts came when Qatar was promoted…

Overview

Strong results: A diversifying economy and an array of large projects support lenders’ asset expansion
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Having shown considerable resilience in the face of the global financial crisis, Qatar’s banks now stand to benefit from the nation’s anticipated economic growth. A pipeline of large-scale projects and the government’s development strategy, which is set to use the country’s hydrocarbons revenues to bring about economic diversification, both promise to supply lenders with plentiful opportunities…

Overview

Pillars of strength: Moving forward with long-term plans for development and diversification
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With sustained, long-term economic growth, the highest per capita income in the world and one of the largest reserves of natural gas just offshore, Qatar today has many advantages. Add in a stable and well-capitalised banking sector and a sovereign wealth fund that is of true global significance, and it is clear that Qatar is in a strong position from which to continue its robust economic performance.…

Overview

Expecting expansion: All the signs point to substantial growth in the coming year
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Benefitting from the nation’s rapid development and buoyant economy, Qatar’s insurance sector has become the third largest in the GCC region in terms of written premiums. The sector is home to a range of domestic giants and international players that enjoy a choice of regulatory frameworks, and insurers are now gearing up to capitalise on the raft of infrastructure projects expected to arise from…