The conflict in Ukraine has caused disruption across the global economy, prompting an increase in the number and sophistication of cyberattacks. According to a poll of 800 chief audit executives conducted by the UK-based Chartered Institute of Internal Auditors, 77% of respondents thought the conflict in Ukraine had elevated cybersecurity and data-security risks. Senior cybersecurity analysts have…
Qatar is in the initial phases of its National Development Strategy 2024-30 (NDS-3) to transform the country into an advanced economy capable of sustainable development. The plan prioritises competitiveness, innovation and institutional excellence, while balancing sustainable growth and social cohesion. The NDS-3 outlines seven strategic national outcomes that represent the main strategic priorities…
There has been notable progress in the rollout of Qatar’s electric vehicle (EV) fleet and the development of autonomous public transport options, prompted by Qatar National Vision 2030 (QNV). Around 70% of the bus fleet was electric as of early 2024, according to the Ministry of Transport (MoT), putting it well on its way to reaching its 100% electric fleet target by 2030. There have also been steps…
Qatar’s Third National Development Strategy (NDS-3) outlines a targeted approach to industrial development between 2024 and 2030. It underscores the value of specialised, high-productivity clusters where Qatar either excels or could develop considerable advantages. More specifically, the NDS-3 advocates for the chemical industry to expand into conventional and blue gasbased petrochemicals. It also…
Building on the momentum seen in the e-commerce space during the Covid-19 pandemic, the buy now/ pay later (BNPL) model is one of the fastest-growing segments in consumer finance, particularly in emerging markets. BNPL providers offer point-of-sale loans that consumers can repay in instalments over the course of weeks or even months. Charging little to no interest, these microcredit providers make…
The global liquefied natural gas (LNG) market is projected to grow significantly, reaching 580m-600m tonnes per annum (tpa) by 2030, up from 400m tpa in February 2024. Forecasts suggest that global demand for LNG could rise by over 50% to hit 625m-685m tpa by 2040, continuing to grow throughout that decade. The switch from coal to gas in China and other developing Asian nations is a key factor driving…
With the launch of a new joint initiative to support the countries most vulnerable to climate change, the global insurance industry is evolving in ways that could carry important implications for business in emerging markets. The initiative, the Global Shield against Climate Risks (GSCR), was announced by the ministers of finance of the Vulnerable Twenty (V20) Group – which comprises economies susceptible…
Islamic finance has emerged globally as a dynamic sector, garnering increased investor attention and becoming a new frontier of digitalisation efforts. Given Qatar’s significant experience in the sector, authorities and financial institutions are increasingly paying attention to ways in which financial technology (fintech) could become a lever for the sector’s expansion. On the Rise “State…
As governments in the region continue to push for privatisation, the GCC is set to see continued strong performance in initial public offerings (IPOs) in 2024. The total number of IPOs in the region decreased marginally from 48 in 2022 to 46 in 2023 – still well above the 20 recorded in 2021. Proceeds from GCC issuers totalled $10.8bn in 2023, compared to almost $23bn the year before. The growing…
Released in January 2024, Qatar’s Third National Development Strategy 2024-30 (NDS-3) aims to bolster the role of the private sector in driving economic growth, shifting away from unsustainable government-led expansion. Small and medium-sized enterprises (SMEs) are identified as key players in this shift, with a projected compound annual growth rate of 36% in SME contributions to the non-hydrocarbons…
