Overview

Qatar's government works towards economic diversification
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Although Qatar continues to enjoys a healthy trade surplus, benefitting from its position as a critical energy supplier to a number of countries worldwide, export revenues in 2015 were dramatically affected by falling oil and gas prices, while the state’s import bill continues to rise as a result of major infrastructure construction and rapid population growth. Declining export revenues have also…

Overview

Years of expansion and oversight lend stability to Qatar's banking sector
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After half a decade of strong growth, Qatar’s banking sector is well positioned to weather regional economic volatility in 2016. As of the end of the first half of 2015 the country was home to the third-largest banking industry in the GCC, boasting total assets of $293bn. The sector consists of 18 institutions, including six domestic conventional lenders, Qatar Development Bank (QDB), which…

Overview

New products and upgrades yield fresh opportunities for Qatar's markets
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After a banner year in 2014, Qatar’s capital markets endured a period of volatility in 2015. The Qatar Stock Exchange (QSE) ended 2015 down around 15% on the previous year, according to data from the exchange. Market participants and observers alike attributed the drop to fluctuating investor sentiment linked to the continued decline of energy prices, contracting government spending and tightening…

Overview

Qatar expects demand for project funding to drive future growth in Islamic financial services
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In recent years Qatar’s Islamic financial services (IFS) sector has expanded rapidly, on the back of government support and growing interest among domestic corporates and individuals alike. While tightening liquidity has the potential to result in slightly curtailed growth across the country’s banking sector as a whole in 2016-17, sharia-compliant lenders are widely considered to be in a better…

Overview

Public sector investment projects in Qatar drive insurance growth
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In recent years Qatar’s insurance sector has expanded swiftly, on the back of government spending, economic development and steadily increasing awareness of the benefits of coverage among the nation’s rapidly growing population. Between 2005 and the end of 2015 the industry posted a compound annual growth rate (CAGR) of 21%, according to data from Moody’s. By the end of 2014 Qatar was the third-largest…

Overview

Qatar remains a leading player in oil and gas
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The year 2015 was a challenging one for Qatar’s oil and gas industry. The state saw its hydrocarbons revenue, which accounts for a significant portion of its income, significantly impacted as an ongoing global oil price plummet accelerated, with crude oil losing over two-thirds of its value between June 2014 and January 2016. Redundancies, private sector exits and the cancellation of a multi-billion-dollar…

Overview

The energy sector stays ahead of demand as Qatar increases capacity
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As Qatar’s population and economy have continued to expand in recent years, demand for utilities has also been increasing rapidly. Power and water consumption have recorded average growth rates of 10.4% and 7.7% a year, respectively, over the last half decade, according to the country’s main utilities authority, the Qatar General Electricity and Water Corporation (Kahramaa). Such growth…

Overview

Private sector investment becomes the focus of Qatar's second six-year health plan
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The large-scale investments of the past half-decade look set to continue driving Qatar’s health sector in 2016 in the final year of its six-year industry blueprint, National Health Strategy (NHS) 2011-16. With the population rising rapidly and household incomes well above the developed-world average – Qatar’s per capita GDP exceeded $100,000 in 2015, according to data from the Ministry of Development…

Overview

Industrial firms play a larger role in Qatar's economy
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Though chiefly known for its success in the oil and gas sector, which has made it one of the world’s wealthiest countries, Qatar is also home to a number of non-hydrocarbons industries that are playing an increasingly important in the economy, particularly in light of the government’s broader plans for diversification. According to the Ministry of Development Planning and Statistics (MDPS),…

Overview

Infrastructure projects and population growth spell a busy time ahead for Qatar
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Transport upgrades are leading construction industry growth in Qatar, following rapid expansion and billions of dollars worth of new contracts awarded in recent years. The 2022 FIFA World Cup has created an impetus to finish a number of critical transport projects on time, including thousands of kilometres of road and expressway upgrades and construction, the new Hamad Port and a major three-part rail…