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Qatar banking sector total assets stood at QR2.126tn in October, according to QNB Financial Services (QNBFS).Total assets decreased 1.1% MoM during October while these moved up (by 3.9%) that month compared to FY2024.Assets grew by an average 5.7% over the past five years (2020-2024), QNBFS said in its latest ‘Qatar Monthly Key Banking Indicators’.Liquid assets to total assets stood at a healthy 30% level in October, QNBFS said.The banking sector's loan book remained flat MoM (+6.0% vs. year-end 2024), while deposits moved down 0.9% MoM (+1.5% vs. year-end 2024) in September this year. As such, the LDR increased to 137% in October compared to 135% in September.Loans were flat MoM in October at QR1,428.2bn (QR1.43tn), while deposits declined by 0.9% MoM in October to QR1,041.7bn (QR1.04tn).Public sector deposits receded by 2.3% MoM (+2.0% vs. fiscal year –FY- 2024) in October.Looking at segment details, the government segment (which represents 34% of public sector deposits) pulled back by 1.4% MoM (+1.7% vs. FY2024).The government institutions’ (represents 52% of public sector deposits) contracted by 5.7% MoM (+0.1% vs. FY2024), while the semi-government institutions’ segment (represents 14% of public sector deposits) expanded by 10.4% MoM (+11% vs. FY2024) during October.Non-resident deposits moved up by 0.7% MoM (-4.3% vs. FY2024) during October 2025. Non-resident deposits as a percentage of total deposits declined from 19.5% in FY2024 to 18.4% in October.Private sector deposits declined 0.5% MoM (+3.5% vs. FY2024) in October.On the private sector front, companies and institutions decreased 1.4% sequentially (+1% vs. FY2024). On the other hand, the consumer segment remained flat MoM (+5.3% vs. FY2024).The overall loan book inched up 0.4% MoM in October 2025 as result of healthy performance from the public sector loans as private sector loans remained flat. Total public sector loans climbed up sequentially by 1.1% (+13.0% vs. FY2024) in October 2025.The government segment (represents 36% of public sector loans) increased by 2.3% MoM (+43.6% vs. YF2024), while the government institutions segment (represents 59% of total public sector loans) remained flat MoM (+0.6% vs. FY2024).On the other hand, the semi-government institutions’ segment (represents -4.5% of total public sector loans) contributed immaterially, moving up by 5.2% MoM (+4.9% vs. FY2024) during October 2025.Total private sector loans were flat MoM (+3.3% vs. FY2024) during the month of October with negligible contribution across all segments.Outside Qatar loans receded sequentially by 0.7% in October (+2.5% vs. year-end 2024).Qatar banking sector loan provisions to gross loans remained flat at 4.2% MoM in October compared to 3.9% as of year-end 2024.Loan provisions have increased 14.5% vs. year-end 2024 as banks have been provisioning for Stage 2 and Stage 3 loans, mainly emanating from contracting and real estate sectors. On a positive note, Stage 3 loans have remained stable, QNBFS noted. 

Air cargo has consistently proven itself as a crucial stabiliser for the global economy; its inherent agility successfully blunting the impact of the 2025 tariff cycle and mitigating the severe disruptions caused by the Covid-19 pandemic.The air cargo segment is a vital cornerstone of global commerce, acting as a crucial enabler of international trade, particularly for time-sensitive and high-value goods. While accounting for a mere 1% of world trade volume, it represents an estimated 35% of its total value, moving goods worth more than $8tn annually.Global air cargo demand, measured in cargo tonne-kilometres (CTK), rose 3.3% year-on-year (y-o-y) as of October, according to the International Air Transport Association (IATA).Activity was surprisingly strong as importers front-loaded shipments ahead of tariff changes. Demand has remained firm since, though growth is expected to moderate later in the year. For 2025, IATA now projects 3.1% y-o-y growth, an upward revision from 0.7% in our June forecast.Cargo traffic in Asia-Pacific is expected to grow by 8.5% y-o-y this year. Year-to-date or YTD (January-October) data shows broad-based strength across nearly all routes, led by the Europe corridor, which expanded by 10.6%.Chinese exporters diverted shipments affected by US tariffs to other trading partners and adopted strategies such as adding intermediate stops or shifting production to countries outside the tariff lists.While this substitution effect materialised quickly, it might not be sustainable if future tariffs target rerouting practices, the global trade body of airlines noted.The low pricing that supported inventory reductions might not persist, reinforcing our more cautious outlook for 2026.Europe is forecast to grow by 2.5% in 2025. Among Europe’s international routes, only those with Asia (+10.6%) and North America (+7.1%) expanded, as per October YTD data.Africa and Latin America are expected to grow by 3.0% and 4.0%, respectively.In contrast, the Middle East and North America are likely to contract by 1.5% and 1.2%, driven by tariffs in North America and geopolitical tensions combined with easing ocean freight disruptions in the Red Sea for the Middle East.Global air freight yields averaged $2.4/kg YTD through October, about 30% above 2019 levels. Yields were slightly stronger in the first quarter, growing by approximately 4% y-o-y, supported by front-loading and a high base from early 2024. However, momentum weakened from the second quarter onward, with average y-o-y declines of 2.6%, reaching a low of -5.4% in September, but improving again in October to -4.0% y-o-y.In contrast, sea freight rates fell sharply in both monthly and yearly terms, making ocean shipping more attractive and reducing air cargo’s relative price competitiveness.Demand growth by cargo hold type shows a clear divergence: dedicated freighters’ CTK rose by mere 1.4%, reflecting limited expansion on the freighter side due to persistent supply chain bottlenecks, while belly cargo surged by 7.8% YTD through October.Aircraft delivery delays continue to hamper fleet expansion, also on the cargo side.Delays in wide-body freighter deliveries, with the Boeing 777X-F pushed to 2028 and Airbus A350F to late 2027, are leading operators to stretch existing fleets and rely on passenger aircraft conversions.However, the pool of suitable passenger aircraft is shrinking due to limited availability of new passenger aircraft. This sustained supply shortfall is driving up air freight rates, particularly for dedicated freighters, and is likely to take years to unwind. Medium wide-bodies, notably the Airbus A330 and Boeing 767, dominate the conversion market as immediate, though costlier, substitutes for delayed next-generation freighters.The global cargo load factor reached 45.3% in October 2025 YTD, broadly unchanged from 2024. While demand growth is expected to slow in 2026, steady air cargo demand amid global uncertainties and persistent capacity constraints should keep load factors broadly flat.For 2026, IATA expects air cargo demand to continue to expand, albeit at a slower pace than in 2025, in line with softening global trade.The slowdown is unlikely to be as pronounced as the general trade deceleration, as air cargo continues to benefit from rising demand for high-value, time-sensitive goods, particularly driven by e-commerce and semiconductors.Persistent global uncertainties around tariffs and supply chain disruptions will reinforce air transport’s role as the most reliable mode of delivery.Overall, IATA forecasts 2.6% growth for the industry in 2026, led by Asia-Pacific at 6%. Other regions should grow around 2%, while the Middle East will stagnate, and North America will edge down by 0.5%.Undoubtedly, air cargo industry's ability to provide speed, security, and flexibility makes it an indispensable component of the modern, interconnected global economy, enabling businesses to meet demanding customer expectations and adapt to volatile market conditions.Pratap John is Business Editor at Gulf Times. X handle: @PratapJohn. 

Qatar Airways Group has announced the appointment of Hamad Ali al‑Khater as Group Chief Executive Officer. Al-Khater took over as the new Qatar Airways Group Chief Executive Officer Sunday. He succeeds Badr Mohammed al‑Meer. Al-Khater joined Qatar Airways Group from Hamad International Airport, where he has served as Chief Operating Officer. In that role, he was responsible for ensuring the safety and reliability of airport operations, while leading its strategic direction, operational excellence, infrastructure expansion, and the continuous enhancement of passenger experience. Prior to his tenure at Hamad International Airport, al-Khater held senior roles across QatarEnergy, driving business development, deal execution, and leading large-scale strategic and operational initiatives. Qatar Airways Group Board of Directors Chairman, His Excellency Saad Sherida al-Kaabi said: “Qatar Airways Group extends its appreciation to Engr. Badr Mohammed al-Meer for his service. As we welcome Mr. Hamad Ali al-Khater, we look forward to building on the strong foundations and expansive global network of Qatar Airways, anchored by our exceptional team in Qatar and around the world. “With this leadership transition, Qatar Airways Group reaffirms its commitment to delivering world-class experiences, reliability, and innovation to travellers around the globe.”

Beyond the TarmacThe eruption of the ‘Hayli Gubbi’ volcano in Ethiopia reported to be dormant for several thousand years began on November 23, sending an ash column thousands of feet into the atmosphere. The volcano, situated in Ethiopia’s Afar Region, erupted on for several hours,launching a huge ash column 10–15km into the sky and quickly darkening the horizon. The volcano, which rises about 500m in altitude, sits within the Rift Valley, a zone reportedly of intense geological activity, where two tectonic plates meet. Surprisingly, the plume of volcanic ash from Ethiopia has swept across the Red Sea through Oman, Yemen and blanketed parts of Pakistan and Northern India before reaching the Indian capital New Delhi, which is thousands of kilometres away!According to tracking website, Flightradar24, it is now moving towards China. Because volcanic ash at high altitude poses serious hazards to aircraft (engines, sensors, visibility), this triggered widespread aviation disruptions.Subsequently, several international and domestic flights were either cancelled, delayed or rerouted in India because of the ash, with the country's aviation regulator-Directorate General of Civil Aviation or DGCA asking airlines to "strictly avoid" affected areas.Even long-haul and international routes outside Ethiopia (eg Europe–India flights) experienced cancellations or rerouting.Flights from Newark to Delhi, New York to Delhi, Dubai to Hyderabad, Doha to Mumbai, Dubai to Chennai, Dammam to Mumbai, Doha to Delhi, Chennai to Mumbai, and Hyderabad to Delhi were among those cancelled.Airports along affected routes also had to prepare for potential runway or taxiway contamination, and in some cases suspend operations until safety could be assured.As ash disperses, airlines and aviation authorities will need continuous monitoring (satellite, Toulouse-based Volcanic Ash Advisory Centre - VAAC advisories, meteorological data), which adds complexity to flight scheduling.The volatile nature of ash dispersion is likely to lead to lingering uncertainty, even after the eruption subsides, reports suggest.Experts say volcanic ash is a cloud of tiny, abrasive particles released into the atmosphere during an eruption. It can damage aircraft engines, contaminate airfields and reduce visibility, making it hazardous to flight operations.Also, because ash melts at relatively low temperatures when passing through a jet engine’s combustion zone, it can form molten glass inside the engine, which then solidifies on turbine blades, blocking airflow, which risks a flameout or engine shutdown.Volcanic ash can clog pitot tubes, static ports, or other sensor openings. That potentially leads to erroneous airspeed/altitude/airsystem readings — dangerous for navigation and flight control.Ash abrasion may scratch or obscure cockpit windows; in heavy ash, visibility can drop significantly. This is risky especially for takeoff/landing or approach phases.If ash falls on runways, taxiways, aprons — even in small amounts — it reduces braking efficiency, contaminate ground equipment, and force airport closures until cleanup is done.Because of these risks, aviation safety protocols require that aircraft avoid flying through ash-affected airspace or altitudes when ash plumes are present; and after exposure, aircraft must undergo detailed inspections before resuming service.The Smithsonian Institution's Global Volcanism Programme said Hayli Gubbi has had no known eruptions during the Holocene, which began around 12,000 years ago at the end of the last Ice Age.Experts also point out volcanic ash clouds are rare. But when Iceland's Eyjafjallajökull volcano erupted in 2010, it caused global travel chaos.UK and European airspace was shut or partially shut, leading to the worst air-travel disruption since World War Two.Industry analysts say this event — despite originating from a remote volcano in Ethiopia — has already shown how interconnected global air travel is- a single ash plume has disrupted flights across continents!The eruption of the Hayli Gubbi volcano is more than a local environmental event, they point out.Because of how high the ash plume rose and how far it drifted (across the Arabian Peninsula into South Asia), it created immediate, widespread disruption to international air travel — grounding flights, forcing reroutes, and prompting safety advisories.For the aviation industry, it is a stark reminder of volcanic risk, even from remote or geologically inactive areas, and how fragile some of the world’s air-traffic dependencies are!  

QNB Group, the largest financial institution in the Middle East and Africa, has been honoured with the ‘Innovation Award’ at the Red Hat Summit 2025, in recognition of the bank’s leadership in digital transformation, hybrid-cloud adoption, and its strategic advancements in AI-driven financial services. The award was accepted by Information Technology experts from QNB, reflecting the bank’s commitment to modernising its technology landscape and pioneering new solutions that enhance operational efficiency, customer experience, and information security.During the panel discussion, QNB showcased its forward-looking roadmap in digital transformation and governance of artificial intelligence, as well as its role in fostering innovation across the financial sector. Red Hat Summit Connect, being its first time in Qatar, brings together technology leaders, decision-makers, and open-source experts to explore the next frontier of IT innovation. The event serves as a platform for accelerating digital transformation through collaboration, education, and real-world application.  QNB’s participation in the event, which is considered one of Red Hat leading strategic showcases, strengthened with the award reinforces its significant contribution and its continuous efforts to strengthen its digital capabilities, support Qatar’s innovation ecosystem, and set new benchmarks for sustainable and secure technology adoption. 

His Excellency the Minister of State for Energy Affairs Saad Sherida al-Kaabi met in Doha Dr Tan See Leng, Minister of Manpower, and Minister-in-Charge for Energy, Science, and Technology of Singapore here today. Discussions during the meeting dealt with energy relations and cooperation between Qatar and Singapore and means to enhance them.

QatarEnergy has signed a production sharing agreement for shallow-water Block S4 offshore the Cooperative Republic of Guyana. The block was awarded through the 2022 Guyana Licensing Round.Under the terms of the agreement, QatarEnergy will hold a 35% share, while its partners TotalEnergies (the operator) will hold 40%, and Petronas will hold 25%. Commenting on this agreement, His Excellency the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, said: “We are pleased to secure this exploration block in Guyana, further building on the strategy to expand our global upstream exploration activities.” He added: “I would like to thank the Government of the Co-operative Republic of Guyana and our partners in the block for their valued support and co-operation.We look forward to working together to deliver on our exploration objectives.” Block S4 covers an area of 1,788sq km and is situated approximately 50-100km from Guyana’s coast, in water depths of 30-100m.

Beyond the TarmacThe use of biometrics at airports — such as facial recognition, iris scans or fingerprint verification — is increasingly widespread and delivers significant benefits for passengers, airports and airlines globally.That said, there are also important caveats and challenges to consider, industry analysts say.Recently, the International Air Transport Association (IATA) noted that biometric adoption is accelerating globally, highlighting the key findings of its 2025 Global Passenger Survey (GPS).The use of biometrics and digital identity is expanding to enable more seamless airport processing, and travellers like it, IATA said. Its utilisation (at airports) is expanding, and passenger satisfaction with biometrics has reached its highest level yet.The IATA survey revealed that half of passengers (50%) have used biometrics at some point in their airport journey, up from 46% in 2024.Usage is most common at security (44%), exit immigration (41%), and entry immigration (35%). Notably, biometric use has risen by nearly 20 percentage points since 2022.Passengers who have used biometrics report high levels of satisfaction with 85% saying they are happy with the experience.74% of travellers say they would be willing to share their biometric information if it means they can skip showing a passport or boarding pass at checkpoints like check-in, security, border control, and boarding.Privacy remains a concern, but there is room to build trust; 42% of passengers who are currently unwilling to share their biometric info say they would reconsider if data privacy was assured.IATA’s Senior Vice-President (Operations, Safety and Security) Nick Careen noted: “Passengers are already using biometrics for different stages of their journey, from check-in to boarding. But to make the international travel experience fully digital, governments need to start issuing digital passports and enable their secure recognition across borders.“When that becomes common practice, travellers, governments, and airlines will all see the benefits of digital identity with an experience that is even more convenient, efficient, and secure.”Biometric systems have seen to enable faster, smoother processing and enhanced security and identity assurance, resulting in improved overall travel experience.They facilitate identity verification in seconds rather than minutes, reducing wait times at check-in, security screening, immigration and boarding.Some airports report up to 30% faster processing due to biometric self-service and fewer manual document checks.Because passengers don’t always need to present a passport/boarding pass at every step (once enrolled), the journey feels more seamless and less stressful, industry analysts say.Biometric data (face, iris, fingerprint) is unique to each person, making impersonation, document fraud or identity theft harder compared to relying solely on passports or IDs.By matching a traveller’s presence through multiple airport touch-points (check‐in, bag‐drop, and boarding), airports can maintain a higher integrity of identity verification.For many travellers, biometrics create a more convenient, “touchless” experience that aligns well with modern expectations.During crowded or peak times, reduced queues and friction make travel less tiring, especially for frequent flyers, families, or those with mobility issues.There is also the potential benefit of more dwell time in retail or food and beverage zones, when processing is faster—meaning better airport experience overall!That said, using biometric data involves personal information that is sensitive. There are concerns over how it’s stored, how long it’s retained, who has access and how it’s used.Also, some travellers may feel uneasy about enrolment, opting in/out, or that biometric data might be used for purposes beyond border or airport control.While long‐term benefits often outweigh costs, the initial setup of biometric infrastructure (cameras, kiosks, software and integration) is significant.Analysts say achieving “end-to-end” biometric coverage (check-in, bag drop, security, immigration, and boarding) is more complex than just a single touch-point!

Qatar ranks among the top countries globally for broadband quality, data infrastructure, digital government services, and innovation, according to a report by Digital Co-operation Organisation (DCO). For example, the report notes that Qatar recorded a higher number of Internet exchange points, improvements in online banking services, and growth in innovative companies. Digital Co-operation Organisation, which is an international organisation dedicated to advancing inclusive and sustainable digital economies, launched the Digital Economy Navigator 2025 (DEN 2025) during the Second World Summit for Social Development in Doha. The report highlights Qatar’s world-class digital infrastructure, advanced governance frameworks, and pioneering investments in sustainability technologies, reaffirming its role as one of the region’s most future-ready digital economies. Qatar’s early adoption of 5G networks and investment in green, energy-efficient data centres position it as a leader in sustainable digital innovation. The report also emphasises Qatar’s commitment to digital skills development and innovation ecosystems, including improved access to online learning resources, digital training at work, flexible working arrangements, and digitally enabled access to employment opportunities. These efforts reflect Qatar’s national digital strategy and its broader vision to diversify the economy and accelerate sustainable growth. Covering 80 countries representing 94% of global GDP and 85% of the global population, the DEN 2025 is the most comprehensive benchmark of digital economy maturity worldwide. Drawing on 145 indicators and insights from more than 41,000 respondents, it provides policymakers, businesses, and development partners with a detailed view of how nations are using technology to drive inclusive, sustainable growth. DCO Secretary-General Deemah al-Yahya said DEN 2025 illustrates both the progress already made and the opportunities ahead. Commenting on DEN 2025, she said: “The Digital Co-operation Organisation envisions a future where every nation can participate meaningfully in the digital economy, not only as consumers of digital services, but as creators and innovators.” She added that collective effort will be essential to turn this potential into reality. “DEN 2025 is a reminder that our collective progress depends on decisive action. We must move from measuring digital transformation to accelerating it, with governments adopting agile and forward-looking policies, businesses investing with purpose and responsibility, and societies embracing innovation as a force for inclusion. “The cost of inaction is exclusion, but the rewards of collaboration are limitless. If we work together across borders, sectors, and communities we can shape an inclusive, trusted, and sustainable digital future where every nation has the opportunity not only to participate, but to lead.” The DEN 2025 shows that digitalisation is creating new opportunities for growth across all income levels. Internet access now reaches more than four in five people globally, and lower-middle-income countries are recording the fastest progress. The report estimates that connecting underserved communities could enable more than 1.3bn people to benefit from digital banking and online services, enhancing inclusion and economic resilience. Artificial intelligence continues to advance rapidly, and the new “Digital for Sustainability” pillar highlights how innovation can support more efficient, environmentally responsible economies. The DCO notes that Qatar’s leadership in green digital infrastructure and sustainable policy integration demonstrates how advanced economies can balance technological ambition with environmental stewardship. The DCO encourages policymakers, the private sector, and innovation stakeholders to use the DEN 2025 as a framework for collaboration and shared progress. Qatar’s achievements in connectivity, governance, and sustainability illustrate how long-term planning and investment can build resilient, inclusive digital economies.

Blocked funds, where governments restrict or delay the repatriation of airline revenues, have significant and far-reaching consequences for the global airline industry.Blocked or trapped funds seem to have become a perennial issue for the industry, especially in regions such as the Middle East, Africa, and parts of South Asia.As of September this year, there were $1.3bn of airline revenue which are, for various reasons, blocked from repatriation, according to the International Air Transport Association.Some 93% of this is in the Africa and Middle East region, which points to the fact that it is impacting airline businesses in the region.According to IATA, the following countries with outstanding balances are in the Mena region: Algeria ($245mn), Lebanon ($139mn), Libya ($29mn), Yemen ($17.5mn) and Sudan ($10mn).At a recent industry event in Morocco, IATA Director General Willie Walsh noted, “As much progress as we make, a new challenge always emerges. With your support, we will continue to highlight that airlines cannot provide economically vital connectivity if they are unable to repatriate the revenues needed to pay the bills!”Industry analysts say blocked funds are revenues earned by foreign airlines in a country that cannot be converted or transferred out due to local foreign exchange controls, currency shortages, or government restrictions.These funds typically arise from ticket sales or cargo operations paid in the local currency, which airlines normally repatriate to their home countries to cover operating costs.On the immediate financial impact on airlines (due to blocked funds), analysts say, “Airlines operate on tight margins and rely on regular repatriation of local earnings to cover expenses like fuel, leases, and salaries. Blocked funds disrupt this flow.“When hundreds of millions of dollars are trapped, airlines must find alternative liquidity or borrow at higher costs to sustain operations. Prolonged inability to recover funds may lead airlines to write off those amounts, directly impacting their profitability.”Leading GCC carriers such as Qatar Airways, Emirates and Etihad and other regional airlines often face secondary effects — such as reduced feeder traffic from affected regions and complex currency hedging requirements.IATA has repeatedly urged governments to remove all barriers preventing airlines from the timely repatriation of their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations.Earlier this year, Walsh noted, "Ensuring the timely repatriation of revenues is vital for airlines to cover dollar-denominated expenses and maintain their operations. Delays and denials violate bilateral agreements and increase exchange rate risks. Reliable access to revenues is critical for any business—particularly airlines which operate on very thin margins. “Economies and jobs rely on international connectivity. Governments must realise that it is a challenge for airlines to maintain connectivity when revenue repatriation is denied or delayed.”Clearly, some countries devise unconventional means to shore up their depleted treasuries, notwithstanding the damage these can inflict on their profile.One way of channelling funds into their kitty seems to be preventing foreign airlines from repatriating funds.Governments’ blocking airline funds, often due to foreign exchange shortages or restrictive economic policies, significantly impacts the airline industry in several ways.Countries that block funds are very likely to deter foreign investment and reduce their appeal to international businesses.Obviously, investors and stakeholders will see the affected markets as high-risk, influencing strategic decisions.The result will be fewer flights to these countries, which can lead to a decrease in tourist inflows and trade opportunities, hurting local economies.Certainly, fewer flight options will inconvenience travellers and businesses relying on air connectivity. Increased fares and reduced competition will make travel more expensive for passengers.Industry analysts also say airlines are unable to repatriate revenue earned in these countries, leading to a liquidity crunch.Carriers rely on consistent revenue to manage operations, pay debts, and fund investments. Blocked funds disrupt these cash flows.Therefore, airlines will have to account for these funds as potential losses, adversely impacting their financial performance.Pratap John is Business Editor at Gulf Times. X handle: @PratapJohn.

Solid economic growth linked to government investment in non-oil-related sectors will over the next 12 to 18 months support the profitability of GCC insurers, according to Moody’s Ratings. The industry will also benefit from the spread of compulsory insurance and rising demand for health and life cover, Moody’s said in a report yesterday. Larger insurers will continue to outperform smaller ones, which will struggle to remain profitable because of intense price competition, rising claims, and high technology and regulatory costs. Some of the smaller insurers will see their solvency come under pressure as a result, leading to continued consolidation. Some GCC insurers' significant reliance on relatively high risk investment assets also makes them vulnerable to geopolitical tensions in the Middle East. “Our analysis focuses primarily on the GCC non-life sector, which accounts for over 80% of region's premium revenues, and on Saudi Arabia and the United Arab Emirates (UAE), which generate a combined 80% of the region's insurance premiums,” Moody’s noted. Meanwhile, Moody’s expects GCC countries to achieve good real GDP growth of around 4% in 2026, led by the region's dominant economies United Arab Emirates (UAE, Aa2 stable) and Saudi Arabia (Aa3 stable). In both of these countries as well as in Kuwait (A1 stable), Oman (Baa3 stable) and Qatar (Aa2 stable), investment linked to large government-backed diversification projects will boost growth in non-oil sectors such as construction, tourism and manufacturing. The expansion of these sectors will drive demand for a broader range of insurance, including property, liability, health and specialty cover. This will increase the GCC region's relatively low insurance penetration rate (premiums as a percentage of GDP) and help correct local insurers' bias toward medical and motor policies. A gradual phase out of subsidies for utilities and education encourages consumers to actively manage their finances and to avail insurance as a wealth management tool, thereby supporting demand for savings and protection insurance. So whilst overall life insurance accounts for less than 20% of total premiums, demand for the life segment is also picking up. GCC non-life insurance prices have improved in 2025, helped in the UAE by insurers raising prices in response to outsized storm damage claims last year. The spread of compulsory insurance in several GCC countries, which along with increasing consumer awareness of insurance products, should result in positive underwriting profit for the sector as a whole for remainder of 2025 and into 2026 as well as in the longer term, Moody’s noted. According to the report, large GCC insurers benefiting from economies of scale will account for the lion's share of profitability improvements next year. Their smaller peers, in contrast, will struggle to make an underwriting profit amid intense competitive pressure, exacerbated by rising claims costs, increased regulatory expenses and higher reinsurance prices. Furthermore, the extent of investment in technology required to remain competitive continues to rise, squeezing profits for subscale insurers. Competitive pressures in the GCC market are amplified by the central role in the distribution chain of personal insurance brokers and aggregator platforms, which channel business toward the lowest cost operators, Moody’s noted.

Qatar Airways and Air Algérie announced a codeshare partnership that will increase access to seamless connectivity between Algeria and key markets in Asia and the Middle East through Doha’s Hamad International Airport. Starting today, travellers can book codeshare flights for travel starting on November 15.Building on an existing interline partnership between the two carriers, the codeshare provides Qatar Airways customers easier access to Algiers as well as six other key destinations in Air Algérie's domestic network, including Annaba, Constantine, Oran, Tamanrasset, Timimoun, and Tindouf. Qatar Airways’ Privilege Club members will also earn Avios on codeshare flights operated by Air Algérie.Similarly, through codeshare flights with Qatar Airways, the Algerian national flag carrier offers more travel options for its passengers traveling to Hong Kong, Kuala Lumpur, and Muscat via Hamad International Airport. This codeshare agreement will soon be expanded to include additional destinations.Qatar Airways Chief Commercial Officer, Thierry Antinori said: “We are delighted to expand our partnership with Air Algérie through this new codeshare agreement, further strengthening our presence across key African markets. This collaboration will offer travellers greater choice and seamless connectivity to the Middle East, and Asia. It also reflects our ongoing commitment to deepening strategic partnerships, such as with Air Algérie, that enhance global connectivity from and to Africa through our hub, Hamad International Airport.”Air Algérie Head of Commercial Division, Samy El Karim Boutemadja said: “This codeshare agreement with Qatar Airways will certainly give Air Algérie the opportunity to enhance the company’s positioning in the Middle East and in Asia by offering its customers larger possibilities to reach new destinations, as well as promoting travelling to Algeria. This agreement contributes to Air Algérie’s global strategy to expand its network and connections through its Algiers hub. We are looking forward to a successful partnership with Qatar Airways.”Qatar Airways currently has 30 interline and six codeshare agreements with airlines across Africa, and operates some 213 weekly flights to 30 cities in 21 African countries.

His Excellency the Minister of State for Energy Affairs, Saad Sherida al-Kaabi has asserted the need to have people at the forefront of energy policies and priorities.Speaking at the opening panel discussion at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), Minister al-Kaabi said, “all our partners and colleagues in the room know that, we in Qatar, have had the same policy and view on how we see the business, how we see the transition, how we see the need for oil and gas for the future, and that has not changed.“We have announced that we cannot reach net-zero because we don’t think it is achievable.”Minister al-Kaabi stressed that energy should not be politicised, nor should be subject to changing politics.He said: “Unfortunately, a small part of this conference has changed with politics, and I think they are not looking at facts and realities. We shouldn't be following politics when we look at the lives of people for the future and how much energy we need for the future.”Speaking on regulations and trade barriers, Minister al-Kaabi reaffirmed Qatar’s opposition to Europe’s excessive regulations that will impose 5% of global turnover of companies that violate their planned Corporate Sustainability Due Diligence Directive (CSDDD).“We have announced very clearly, and I have spoken on several occasions, that if Europe does not look at how they can water down or cancel the CSDDD and still have a penalty of 5% of our total world turnover as a penalty, we will not be delivering LNG to Europe, for sure,” he noted.Minister al-Kaabi concluded his remarks by affirming that this is not just about oil and gas but rather affects any company doing business in Europe like Toyota (for example) can be impacted while delivering cars; this is why it is very important that Europe looks at this very seriously.The Minister was speaking during a session entitled: “Energy Realities: Securing the future in an uncertain world” with participation from Suhail al-Mazrouei, Minister of Energy & Industry of the United Arab Emirates, and Karim Badawi, the Minister of Petroleum and Mineral Resources of Egypt.

Qatar Central Bank has partnered with Qatar Airways Privilege Club to introduce a more rewarding experience for ‘Himyan’ cardholders, enabling Himyan prepaid and debit cardholders to enjoy Privilege Club benefits and collect Avios when using their Himyan cards.Himyan cardholders can now collect one Avios for every QR8 spent using their cards on online or point-of-sale (POS) transactions.The cardholders will also benefit from card-linked offers, whereby they will collect even more Avios for purchases with linked Himyan cards at participating Privilege Club partner outlets, which include retail, dining, entertainment, lifestyle and more venues across Qatar.This initiative is launched by the Qatar Central Bank to enhance the product proposition of Himyan, the national payment card of Qatar, and aligns with Privilege Club’s strategic objective of providing its members with new avenues to collect Avios as part of their everyday lifestyle.This pioneering first-of-its kind partnership is now available to both existing and new Himyan cardholders of Ahli Bank, AlRayan Bank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar International Islamic Bank, Qatar Islamic Bank, and Qatar National Bank.Commenting on the initiative, HE the Deputy Governor of Qatar Central Bank, Sheikh Ahmed bin Khalid bin Ahmed bin Sultan al-Thani stated: “This initiative reflects the Qatar Central Bank’s commitment to developing the national payments ecosystem and strengthening collaboration with partners across various sectors.“It aligns with the objectives of the Third Financial Sector Strategy of the State of Qatar, supports the digital payments transformation, and further enhances the benefits of the Himyan card as a secure and advanced payment instrument within the State of Qatar”.Qatar Airways Group Chief Executive Officer Badr Mohammed al-Meer, said: “Our collaboration with the Qatar Central Bank reflects Qatar Airways’ commitment to supporting Qatar’s digital and economic transformation. This initiative aligns with the Qatar National Vision 2030 by promoting national innovation and strengthening the country’s financial ecosystem through a home-grown payment solution. We thank the Qatar Central Bank for this forward-thinking initiative, which enables Privilege Club members to earn Avios while contributing to an economy that keeps value within Qatar.”Privilege Club members can redeem the Avios they collect through Himyan card purchases for travel and lifestyle rewards of their choice. With Cash + Avios, they can enjoy flexible partial payments using Avios, benefit from significant discounts on flights, upgrades, extra baggage allowance, holiday packages, and much more.

QatarEnergy has awarded Samsung C&T Corporation the engineering, procurement, and construction (EPC) contract for a landmark carbon capture and sequestration (CCS) project to serve QatarEnergy’s existing LNG production facilities in Ras Laffan Industrial City.The new project will capture and sequester up to 4.1mn tons of CO₂ per year , making it one of the world’s largest of its kind and placing Qatar at the forefront of global large-scale carbon capture deployment, reinforcing its leadership role in providing responsible and sustainable energy.His Excellency the Minister of State for Energy Affairs, His Excellency Saad Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, welcomed the award as an important step and said: “This milestone project builds upon our growing carbon capture and sequestration capabilities, which reinforce our position as a reliable provider of affordable lower-carbon energy. “All our LNG expansion projects will deploy CCS technologies, with an aim to capture over 11 MTPY of CO2 by 2035.”Minister al-Kaabi added: “By implementing important environmental aspects of QatarEnergy’s sustainability strategy, our CCS projects will enable a significant reduction in Green House Gas emissions and will greatly support Qatar’s National Climate Change Action Plan. To achieve this, we are pleased to partner with Samsung C&T Corporation, and we look forward to the successful execution of this world-scale project.”QatarEnergy launched its first CCS project in 2019 with a capacity of 2.2 MTPY. Two other ongoing CCS projects will serve the North Field East and North Field South expansion projects, capturing and storing 2.1 MTPY and 1.2 MTPY of CO2 respectively.

Some 845 new hotel keys are scheduled for delivery in Qatar in 2025, with the majority concentrated in 4 and 5-star categories, according to researcher ValuStrat.Total hospitality stock in the country has been estimated at 41,240 keys, ValuStrat said in a recent report.A majority – 68% of the total stock comprised 4 to 5-star hotels – whereas 7.7% was classified within the 1-star to 3-star category, while the remaining 24.3% consisted of hotel apartments, it said.For the second quarter (Q2, 2025), the Average Daily Rate (ADR) was QR453, an increment of 6.5% YoY.Whilst the Revenue Per Available Room (RevPAR) was QR322, a jump of 21.2% was seen from Q2 last year, supported by events such as the Toy and Food Festivals, exhibitions, Eid celebrations, and MICE activities.Average daily rates were QR653.5 for 5-star hotels, QR233.2 for 3-star hotels, and QR187.2 for 4-star hotels, ValuStrat noted.Average hotel occupancy was at 71%, an increase of 13.2% yearly.The total visitor count increased by 1.1mn compared to the previous quarter, reaching 2.6mn in H1 and reflecting a 3% YoY increase.Travellers from GCC nations accounted for 36% of the total, it said.According to the researcher, total retail supply in Qatar was recorded at 5.5mn sq m gross leasable area (GLA). Organised spaces comprised 2.5mn sq m GLA while unorganised amounted to 3mn sq m GLA.The median monthly rate for shopping centres in the second quarter decreased by 2% quarterly at QR178.8 per sq m, noting a drop of 5.9% yearly.Median monthly rents for street retail inside Doha stabilised QoQ while reducing by 5% yearly.Outside Doha, median monthly rents were down by 1% QoQ and 3% YoY.Street retail rents inside Doha over most locations remained unchanged or observed nominal increases quarterly, while a YoY decrease of close to 10% was noted in Al Sadd, Fereej Bin Mahmoud, Muntazah and Al Bidda.Street retail rents outside Doha largely held steady on a quarterly basis, with the exception of Abu Hamour, Al Khor and Umm Salal Mohammad, which recorded declines of up to 10% compared to the first quarter of 2025.On an annual scale, similar reductions were observed, ValuStrat noted.

Direct flights between India and China have officially resumed after a five-year hiatus, marking a notable step towards normalisation of relations between the world’s two most populous nations, neighbours, and rapidly growing major economies.Earlier this week, an IndiGo flight departed from Kolkata and landed in Guangzhou after a three-and-a-half-hour journey, restoring a vital air link that had been suspended since early 2020 following the Covid-19 pandemic.The pause in flights was prolonged following a deadly border clash in the Himalayas that sharply escalated tensions between the two nuclear-armed neighbours.In recent months, however, both sides have taken concrete steps to ease frictions. The two countries reached an agreement last year on military disengagement along their disputed frontier and have since resumed high-level diplomatic dialogue for the first time in five years.Confirming the resumption of flights, a spokesperson for the Chinese Embassy in India announced on X, “Direct flights between China and India are now a reality.”Further connectivity is expected in the coming days. China Eastern Airlines will restart its Shanghai–Delhi service on November 9, while IndiGo plans to launch a new Delhi–Guangzhou route on November 10.According to India’s Ministry of External Affairs, the restoration of direct air links will “facilitate people-to-people contact” and contribute to “the gradual normalisation of bilateral exchanges.”The revival of air travel comes amid a broader improvement in India-China relations, a clear sign of thawing relations between the two nuclear-armed neighbours.Indian Prime Minister Narendra Modi made his first visit to China in seven years this August, followed by a reciprocal visit to India by Chinese Foreign Minister Wang Yi later that month.During his trip, Prime Minister Modi reaffirmed India’s commitment to advancing ties “on the basis of mutual trust and respect”, noting progress in stabilising border tensions and expanding cooperation.Earlier this year, the Chinese Ambassador to India revealed that China had issued over 80,000 visas in the first four months of 2025, reflecting a steady increase in exchanges. Reports indicated that the Chinese Embassy has also simplified short-term visa procedures by removing the requirement for online appointments and biometric data collection.Before the pandemic and the subsequent border tensions, air connectivity between the two nations was robust, with more than 500 weekly flights in 2019.Both Air India and IndiGo had operated services to China, while Chinese carriers such as China Eastern maintained regular routes to Indian cities.The reinstatement of direct flights is expected to deliver significant economic and social benefits with trade, business and education sectors in the two countries becoming huge and immediate beneficiaries.For industry, the move will streamline logistics by allowing direct shipments between the two countries, reducing both transit times and costs associated with third-country routing.Business travellers are likely to be among the biggest beneficiaries, as the restored connections will save valuable time and support closer commercial engagement.The change will also facilitate greater mobility for students—both Chinese students pursuing studies in India and Indian students attending universities in China.Analysts say the return of direct air links underscores a cautious yet meaningful warming in India-China relations, signalling a shared interest in rebuilding cooperation and restoring normalcy after years of strained ties.Prominent aviation analyst Ashwini Phadnis noted: “Given the push that the Indian and Chinese government have been giving for more people to people contact, the starting of direct flights between the two neighbours was a question of time. This was reached this month.”Phadnis said the genesis for the start of direct flights can be traced back to December 2024 when the meeting of the Special Representatives of the two countries – National Security Adviser Ajit Doval and Wang Yi, Member of the Political Bureau of the Communist Party of China Central Committee and Foreign Minister – in December in Berlin last year.“Probably, the biggest gainer will be industry as shipments will now arrive directly than coming through a third country which is a time consuming and expensive proposition. This move will also benefit the business community, which will now save time in travel. It will also help Chinese students wanting to come to India for further studies and Indian students wanting to study in China,” the New Delhi-based Phadnis said.Pratap John is Business Editor at Gulf Times. X handle: @PratapJohn.

QNB's Corporate Social Responsibility (CSR) team organised a creative workshop for the children of its employees under the theme "Dream Big, Save Smart". The event marks World Savings Day, celebrated annually on October 31, in line with national development and sustainability goals.The initiative aims to instill sound savings and financial planning habits among children, according to the QNB's CSR programmes to promote financial literacy and financial inclusion among children and youth, contributing to building a knowledge-based economy and promoting sustainability according to QNV 2030.The workshop featured a packed programme of creative activities, including ‘Design Your Own Wooden Money Bank’; ‘Interactive Money Talk’ & ‘Budgeting Game’; and ‘Finance-Themed Colouring Wall’.During the event, young participants unleashed their creativity by turning their dreams into reality through creative thinking.