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A higher than average demand at the telecom, industrials and transport counters on Thursday led Qatar Stock Exchange to gain 54 points and capitalisation add about QR3bn.Ahead of an Opec+ meeting and a likely US interest rate cuts, the domestic institutions were seen increasingly net buyers as the 20-stock Qatar Index gain 0.52% to 10,391.75 points, recovering from an intraday low of 10,337 points.The foreign funds turned bullish, albeit at lower levels, in the main bourse, whose capitalisation added QR2.91bn or 0.48% to QR615.07bn on the back of large and small cap segments.The Gulf individuals were seen net buyers in the main market, which saw as many as 0.05mn ETFs or the exchange traded funds (sponsored by AlRayan Bank), valued at QR0.11mn change hands across two deals.The foreign individuals’ weakened net profit booking had its influence on the main bourse, whose trade turnover grew amidst lower volumes.The Islamic index was seen gaining slower than the other indices of the main bourse, which saw as much as 49% of the traded constituents in the red.However, the Qatari retail investors turned net sellers in the main market, which saw no trading of treasury bills.The Gulf institutions were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.52%, the All Share Index by 0.47% and the All Islamic Index by 0.37% in the main market.The telecom sector index shot up 1.07%, industrials (0.72%), transport (0.61%), banks and financial services (0.5%) and insurance (0.04%); while consumer goods and services declined 0.5% and real estate (0.43%).Major movers in the main market included Ooredoo, Industries Qatar, Nakilat, Estithmar Holding and Qatar Electricity and Water.Nevertheless, Medicare Group, Doha Bank, Qatari Investors Group, Qatar Oman Investment, Gulf Warehousing and Dukhan Bank were among the losers in the main bourse.In the venture market, Al Mahhar Holding saw its shares appreciate in value.The domestic institutions’ net buying strengthened perceptibly to QR22.8mn compared to QR19.94mn on December 4.The Gulf retail investors turned net buyers to the tune of QR1.47mn against net sellers of QR0.01mn the previous day.The foreign institutions were net buyers to the extent of QR0.71mn compared with net sellers of QR13.86mn on Wednesday.The foreign individuals’ net profit booking declined noticeably to QR0.62mn against QR1.25mn on December 4.However, the Gulf institutions’ net selling expanded substantially to QR10.15mn compared to QR2.88mn the previous day.The Qatari individuals turned net sellers to the tune of QR9.53mn against net buyers of QR0.03mn on Wednesday.The Arab retail investors’ net selling strengthened markedly to QR4.7mn compared to QR1.98mn on December 4.The Arab institutions had no major net exposure for the third straight session.Trade volumes in the main market fell 8% to 96.35mn shares, whereas value rose 2% to QR264.37mn and transactions by 12% to 12,391.In the venture market, trade volumes more than doubled to 0.07mn equities and value also more than doubled to QR0.18mn on 10% jump in deals to 11.

The largest intergenerational wealth transfer in US history is about to take place — though the vast majority of Americans are unlikely to inherit much money at all.About $105tn is projected to be passed down from older generations over the next quarter century, according to research firm Cerulli Associates, an amount roughly equal to global gross domestic product in 2023.Rising stock markets and home prices, as well as inflation, have fattened the estates that members of the baby boom generation, born between 1946 and 1964, are expected to leave their heirs. The latest inheritance projection by Cerulli is 45% higher than the 25-year forecast the firm made only three years ago. US gifts and inheritances are expected to total $2.5tn next year alone.“About 80% of the wealth held today is going to be in motion,” Chayce Horton, the lead author of the Cerulli report, said in an interview. “The ratio of wealth expected to be changing hands in the next 25 years is significant, and much greater than what we even saw a decade ago.”Yet even as the assets of millions of ageing Americans are passed on, the share of the US population that will benefit from inherited money has remained static, a sign of how accumulating family wealth has become more concentrated among the most affluent households.At the same time, money passed down from one generation to another accounts for a growing share of the overall wealth of heirs, rising relative to income from work or investments. Inherited money represented about a quarter of the net worth of households that received it, a Bloomberg analysis of the Federal Reserve’s 2022 Survey of Consumer Finances found, up from roughly 10% in the late 1990s.“We’re becoming less of an economy that promotes entrepreneurship and production and more of an economy focused on inheritance and dynasty,” said Chuck Collins, Director of the Program on Inequality and the Common Good at the Institute for Policy Studies.Collins, whose great grandfather founded the hot dog and lunchmeat maker Oscar Mayer, gave up his inheritance when he was in his twenties. He is now a member of the Patriotic Millionaires, a nonprofit group of affluent Americans that pushes for the wealthy to pay higher tax rates.Receiving any funds from a deceased family member remains the exception in the US, not the rule. Just one in five American households have received a substantial gift, trust or inheritance in recent decades, according to Bloomberg’s analysis.Inherited wealth is expected to become increasingly concentrated among the most affluent, according to Cerulli. The firm estimates that more than half of the wealth transferred between generations through 2048 will come from households with at least $5mn in investible assets. Only about 2% of US households meet that threshold.The figures lend support to an idea that has long had currency among economists but that has been difficult to confirm — that the share of overall wealth derived from inheritance is far higher than it appears. A 2017 paper argued that inherited money had accounted for more than half of total wealth in the US and Europe since the 1990s, and that “self-reported inheritance flows are implausibly low.”“Inheritance is still the most important factor in terms of wealth concentration,” said Kaushik Basu, professor of economics at Cornell University and former chief economist at the World Bank.The trillions of dollars set to be passed on in coming years could create more social mobility for younger generations, even though its greater concentration among the wealthiest Americans is likely to create more obstacles for lower-income households and exacerbate inequality.“Markets may still flourish, and overall economic growth may continue, but the polarisation between the born-poor and born-rich will become more acute,” Basu said.He added that many of the economic advantages of family wealth are conferred indirectly, through access to education and other opportunities.As more members of the massive baby boom generation die, the annual rate at which wealth is being passed on is expected to increase until the end of the decade.Millennials, born between 1981 and 1996, are expected to inherit more than $45tn by 2048, including some $3.9tn that year alone. Generation X, sandwiched between the baby boomers and millennials, will see their annual inheritance levels peak in 2038 at just shy of $2tn, according to Cerulli.Wealth isn’t only cascading down to younger generations, it also is moving sideways. Before reaching younger heirs, inheritances are often transferred to surviving spouses and partners. Since women tend to outlive men, they are expected to receive a large share of the fortunes being passed on.“A significant amount of the wealth that is held today is believed to be controlled by men,” said Cerulli’s Horton. As those men die, “we expect that wealth to be much more equitably distributed on a gender basis.”Cerulli estimates that women will inherit nearly half of the total projected value of inheritances over the next 25 years.US tax policy has made it easier for wealthy heirs to hang on to more of the money they inherit. President-elect Donald Trump wants to extend part of his 2017 tax-cut package that doubled the estate-tax exemption from $5.49mn to $11.18mn.For many older Americans, money handed down from previous generations has shaped their own planning. Alan Jewett, a 75-year-old retiree in Delaware, and his wife received an inheritance of nearly $3mn from her childless aunts in 2014, after the couple had already put both their children through college and bought a home.“Having money changes the way you look at things in the sense that it gives you and your family a feeling of security,” Jewett said. He and his wife gave part of the inheritance to their kids and set up an irrevocable trust for their three young grandchildren.Some heirs say they have used inherited money to prepare for their own health and elder-care expenses. Lee Robin Gebhardt, a 63-year-old living in Putnam County, New York, said she invested a $150,000 retirement account that she received from her father, who died in 2020, in her long-term care. Gebhardt, who plans to work for at least another two years, has enough money put away to last her until she’s 110.“That will take some pressure off my children,” she said.Other relatively wealthy baby boomers have decided to pass on some of their wealth while they’re still able to see its effects for themselves.“I’ve seen an increasing focus on ‘giving while living,’ where people provide for their family’s needs during their lifetime,” said Jared Jones, senior advisor at Omega Wealth Management. “There’s definitely a big focus on not waiting until one passes away to help and witness the benefits of the wealth from the family.”

The Middle East’s trade with China is set to eclipse the oil-rich region’s ties with their traditional Western allies midway through Donald Trump’s second term in the White House, according to a report from a think tank.Gulf-China trade fell last year to $225bn as a result of lower oil prices, but is set to grow this year and rise to $325bn by 2027, Asia House, which focuses on Asia, the Middle East and Europe, said. Trade between the Gulf and emerging economies in Asia may hit $682bn by 2030 if current growth levels continue, the report said.Trade between the Gulf and the US, UK and Europe, was over $250bn in 2023 but has been growing at a slower rate than Gulf-China trade.“It’s clear from our research that we are in the midst of a profound shift in the global landscape,” Asia House Chief Executive Officer Michael Lawrence said in a statement. “These new alliances – diplomatic, economic and commercial – are being forged as Western economies become increasingly protectionist.”Countries like Saudi Arabia and the United Arab Emirates have been building closer ties with China and other rapidly growing Asian economies as they look to attract more foreign investment and bolster trade with the biggest buyers of their oil exports. Both have been invited to join the Brics group of emerging market powers, which includes Brazil, Russia, India, China and South Africa as part of plans to strengthen alliances of the so-called global south.Yet the growth of Chinese trade with the Gulf may be challenged by Trump’s policies, Asia House said. While US tariffs on Chinese imports could encourage more trade with Gulf countries, pressure from the Trump administration to reduce co-operation with China may limit growth.The US has already been applying pressure on Gulf countries to limit technology and artificial intelligence co-operation with China.Still, a push by Gulf countries to develop renewable industries, promote adoption of electric vehicles, and develop their role as international finance centres will increasing draw in Chinese investment, Asia House said. At the same time the sovereign wealth funds from the Gulf, which control over $4tn, have been increasing their investments in Asia.

Floward, the go-to online flowers and gifts delivery destination in MENA and the UK, and Damas Jewellery, the leading jewellery brand in the GCC, officially announced their strategic partnership during a signing ceremony held at Damas Jewellery Headquarters in Dubai. The agreement was signed by Chairman and CEO of Floward, Mr. Abdulaziz B. Al Loughani, and Chairman and CEO of Damas Jewellery, Mr. Luc Perramond.The partnership marks a significant milestone for both brands, combining Floward's expertise in curated gifting with Damas Jewellery’s reputation for elegance and craftsmanship. This long-term collaboration, launching first in Saudi Arabia, integrates a selection of Damas Jewellery’s high-end collections into Floward’s platform. The partnership will expand to other GCC markets, offering customers an unparalleled luxury gifting experience. As part of the partnership, Floward customers can now pair stunning Damas Jewellery pieces with their favourite flowers, chocolates, and other gifting options, elevating the art of gift-giving. Both brands are also set to launch joint marketing campaigns to ensure the partnership’s success and maintain strong visibility across key markets. Chairman and CEO of Floward, Mr. Abdulaziz B. Al Loughani, said: "This partnership represents a remarkable step forward in our mission to bring joy, convenience, and thoughtfulness to gift-giving. Collaborating with a distinguished brand like Damas Jewellery allows us to expand our premium offerings, catering to customers who seek exclusivity and sophistication. Together, we are redefining the gifting experience in the GCC and beyond." Chairman and CEO of Damas Jewellery, stated: "We are excited to embark on this partnership with Floward, a leading platform that allows us to bring our exclusive jewellery collections to an even wider audience. This collaboration marks a significant step in strengthening our digital presence and expanding our reach in Saudi Arabia and the broader GCC regions. Together, we look forward to offering our customers a seamless and elevated shopping experience, while continuing to innovate and grow within the online marketplace." The partnership underscores both brands’ commitment to innovation and excellence, setting a new benchmark for the gifting industry in the region. By blending Floward's seamless e-commerce platform with Damas Jewellery’s legacy and iconic designs, this collaboration promises to deliver an unforgettable luxury experience for customers.Established in 2017, Floward is a full-fledged e-commerce solution that offers prime fresh-cut flowers sourced from the best growers and farmers around the world and arranged locally by a team of florists and designers. Floward also offers cakes, chocolate and perfumes curated by the region’s most exciting designers bundled with its flower arrangements and manages last-mile same-day delivery to ensure the best customer experience.

The OECD warned yesterday that protectionist trade measures pose a major risk to disrupting the world economy, just weeks before Donald Trump is set to return to the White House.The Organisation for Economic Co-operation and Development(OECD), a Paris-based body that advises industrialised nations on policy matters, never named Trump in its updated analysis of the world economy.But with the president-elect vowing to slap tariffs on US trading partners after his return to power next month, it was abundantly clear that the OECD was warning about Trump’s possible measures.While the organisation raised its 2025 global growth forecast to 3.3%, it cautioned that “greater trade protectionism, particularly from the largest economies” poses a “downside risk” along with geopolitical tensions and high public debts.On the campaign trail, Trump threatened blanket tariffs of at least 10% on all imports and since his election has vowed to slap 25% import tariffs against Canada and Mexico, top US trade partners.“Increases in trade-restrictive measures could raise costs and prices, deter investment, weaken innovation and ultimately lower growth,” the OECD warned in its economic outlook.“Further increases in global trade restrictions would add to import prices, raise production costs for businesses and reduce living standards for consumers,” it added.During his first term in office from 2017-2021, Trump slapped tariffs on certain products from China and other trading partners, including the European Union, but on a smaller scale than the measures he has pledged to take upon his return to the White House.A recent study by the Roland Berger consultancy calculated the cost of the US measures and likely countermeasures by China and the EU at more than $2.1tn through 2029.Trump is far from the only risk in terms of protectionist measures. The Covid-19 pandemic and the war in Ukraine showed the dependency of many countries upon global trade, but instead of facilitating the exchange of goods and service many countries have sought to shorten certain supply chains and protect markets.A spat has also broken out between Brussels and Beijing after the EU imposed import tariffs on Chinese electric vehicles. China has retaliated with tariffs on EU brandy, including cognac.

Commercial Bank, a leader in innovative digital banking services in Qatar, has received the prestigious ‘Best Green Financing Initiative’ award and ‘Sustainable and Green Bank of the Year in Qatar’ award from the Asian Banker.Commercial Bank is taking steps to integrate sustainability into its corporate strategy, aligning with Qatar National Vision 2030 and the National Environment and Climate Change Strategy.By implementing a robust ESG framework, including ESG Risk Criteria for Lending and Investment and a Sustainable Finance Framework, the bank is empowering its stakeholders with training, workshops, and e-learning to embed ESG principles in its operations.Commercial Bank’s commitment has extended to innovative green financing initiatives such as its largest ever CHF Green bond issued from Qatar, a debut CHF225mn green bond, green vehicle loans in collaboration with electric vehicle dealers, and green mortgage Loans tied to certified sustainable properties.Operationally, the bank will aim to transition its fleet to 100% electric by 2025 and adopting energy-efficient measures, targeting a 25% reduction in GHG emissions by 2030.Joseph Abraham, Group CEO, Commercial Bank said: “Receiving these prestigious accolades not only aligns with our strategic vision but also positions Commercial Bank at the forefront of environmental stewardship, while delivering value to our investors and the broader community.”Noman Ali, executive general manager and chief financial officer and chief sustainability officer of Commercial Bank, said: “We recognize that the future of banking lies in integrating innovation with responsibility, ensuring that we not only meet the evolving needs of our customers while fostering a sustainable and forward-thinking financial ecosystem. This achievement underscores our dedication to responsible financing, with a vision to drive meaningful environmental impact.”

QIIB and Gulf Organisation for Research & Development (Gord) signed a memorandum of understanding (MoU) at the bank headquarters recently.The MoU will result in a strategic engagement between the two organisations to collaborate on various initiatives aimed at promoting sustainability and green finance.QIIB Chief Executive Officer Dr Abdulbasit Ahmad al-Shaibei, and Dr Yousef Alhorr, Founding Chairman of Gord, signed the agreement on behalf of their respective organisations.The MoU aims to leverage the strengths of both organisations to drive sustainable development in Qatar and beyond.Gord, known for its role in influencing regional and global sustainability practices, will bring its expertise in research, green building certification, and climate change advisory along with other related services.Meanwhile, QIIB, a leading Islamic financial institution that has long upheld its commitment to Shariah-compliant banking solutions, will leverage its financial capabilities to support sustainable investments and green initiatives in the region.Speaking on the sidelines of the event, Dr al-Shaibei, said: "At QIIB, we are committed to being a catalyst for positive change. By collaborating with Gord, we aim to harness the power of finance to drive sustainable development.“This collaboration will not only enable us to integrate ESG principles into our core business, but will also support projects that have a positive environmental and social impact. We are excited to work together to create a more sustainable future for Qatar."He added: "We are very pleased to sign this Memorandum of Understanding, as it will help us further enhance our projects and plans in the field of sustainability. This reinforces our commitment to achieving leadership in this domain. Earlier, in January, we announced the first framework for sustainable financing at QIIB, aimed at funding projects that provide environmental and social benefits.“Our focus on sustainability aligns with our efforts to implement the objectives of QCB’s third Financial Sector Strategy, which places significant emphasis on environmental, social, and corporate governance (ESG) as well as sustainability."Dr Alhorr said: "Financial institutions are the lifeblood of sustainable development. The sector plays a pivotal role in driving meaningful climate action, and it is encouraging to see Qatar’s leading banks embracing this responsibility. Through our MoU with QIIB, we strive to align financial solutions with sustainability goals.“We see this collaboration as a powerful step in ensuring that financial resources are channelled effectively towards projects that not only drive economic growth but also contribute to a greener, more sustainable future for Qatar and beyond. At the same time, we are keen to work with QIIB in reducing its climate risks and creating new opportunities for sustainable growth.”Key areas of collaboration outlined in the MoU include green finance initiatives to support sustainable projects across various sectors. Both parties will work together to develop capacity-building programmes, offering training and educational opportunities aimed at fostering a deeper understanding of sustainability practices.As part of the agreement, Gord and QIIB will also collaborate on research, development, and innovation (RDI) activities, particularly those focused on sustainable innovations that drive carbon mitigation and contribute to Qatar’s broader climate action goals.Additionally, the MoU outlines the use of the Global Sustainability Assessment System (GSAS) in supporting real estate green finance schemes, helping to align property developments with internationally recognised sustainability standards.Both organisations also aim to develop ESG capacity-building programmes that will enhance the understanding and implementation of ESG principles within the local financial and business sectors. As part of this collaboration, the provision of tech-enabled services related to ESG will further strengthen Qatar’s position as a leader in sustainable finance and development.Aligned with Qatar’s National Vision 2030 and the United Nations Sustainable Development Goals (SDGs), the collaboration between Gord and QIIB is expected to drive significant progress toward a sustainable and low-carbon future for Qatar.

The Al-Attiyah Foundation hosted its fourth and final CEO Roundtable of 2024 on Wednesday.The event, titled “A Year of Change: Reflections on 2024 and Priorities for 2025”, brought together prominent industry leaders, global experts, and policymakers to reflect on the key developments of the past year and discuss priorities for the year ahead.The roundtable featured insights from Bill Farren-Price, Senior Research Fellow and Head of Gas Research at the Oxford Institute for Energy Studies; Gulmira Rzayeva, Senior Visiting Research Fellow at the same institute and David Hart, Partner at ERM and Visiting Professor at Imperial College London.Joining them virtually at the Roundtable were Alan Gelder, Vice President of Chemicals and Oil Markets at Wood Mackenzie, and Marissa Lee, Associate Director at Global Counsel.Moderated by broadcaster Axel Threlfall, the event facilitated a robust discussion on pressing topics, including fluctuating oil and gas prices, the affordability of renewable energy, advancements in battery storage, and the ongoing challenges of energy security.The dialogue also delved into the geopolitical risks and supply chain disruptions that have shaped the global energy landscape in 2024, particularly in the context of the Russia-Ukraine conflict and Opec+ production policies.Speakers emphasised the complex interplay between economic conditions, technological innovation, and geopolitical factors in shaping energy markets. They reflected on the stabilisation of natural gas prices, driven by Europe’s increased LNG imports and investments in renewable energy, and on the continued decline in solar and wind energy costs, despite lingering supply chain challenges.The roundtable also examined emerging priorities for 2025, highlighting the need to address regional disparities in energy access, accelerate the transition to sustainable energy systems, and bolster resilience against future disruptions.HE Dr Ibrahim Ibrahim, Vice-Chairman of the Board of Trustees of the Al-Attiyah Foundation, expressed his appreciation for the candid and insightful discussions. “This final Roundtable of 2024 provided an invaluable opportunity to reflect on an eventful year. The insights shared by our distinguished speakers and members will serve as a guide as we navigate the challenges and opportunities of 2025,” he said.The event concluded with a commitment to ongoing dialogue and collaboration, reinforcing the Foundation’s role as a leader in promoting knowledge exchange on global energy and sustainability issues.A detailed Whitepaper summarising the discussions and recommendations will soon be available on the Foundation’s website, www.abhafoundation.org.

Qatar's banking sector loan book increased by 0.9% month-on-month (m-o-m), up 5.7% so far this year, according to QNB Financial Services (QNBFS).Deposits moved down 0.8% m-o-m, up 5.3% so far this year, as of October, QNBFS said in its latest 'Qatar Monthly Key Banking Indicators'.With loans rising and deposits going down during October, the loans to deposits ratio (LDR) went up to 131.1%, compared to 128.9% in September 2024.Loans increased by 0.9% during October to reach QR1,361.5bn. The loans gain in October was mainly due to rises by 2.3% in the public sector and 0.3% in the private sector.Loans went up by 5.7% in 2024, compared to a growth of 2.5% in 2023; growing by an average 6.5% over the past five years (2019-2023). Loan provisions to gross loans stood at 4.2% both in September and October of this year.Loan provisions to gross loans stood at 4.2% as of October. Loan provisions have increased from 2.3% (in 2019) to 4% in 2023 and 4.2% (as of October) as banks have been provisioning for Stage 2 and Stage 3 loans mainly emanating from contracting and real estate sectors.According to QNBFS, deposits moved down by 0.8% during October to QR1,038.4bn.The deposits decline in September was mainly due to drops by 2.1% in public sector deposits and 1.8% in non-resident deposits.Deposits increased 5.3% in 2024, compared to a decline by 1.3% in 2023. Deposits grew by an average 4.1% over the past five years (2019-2023).Total assets of commercial banks in Qatar declined by 0.9% during October to QR2.007tn. The drop was mainly due to a decrease by 4.1% in foreign assets and by 9.5% in reserves.Total assets were up by 1.9% in 2024, compared to a growth of 3.4% in 2023. Assets grew by an average 6.8% over the past five years (2019-2023).Liquid assets to total assets moved lower to 29.3% in October, compared to 30.3% in September, QNBFS noted.An analyst told Gulf Times, “The key highlight for the month of October is the increase in the overall loan book by 0.9%, pushed up mainly by the 2.3% rise in public sector loans, in particular, the government segment gain by 7.8%. This is because the government overdrafts increased, which could indicate short-term funding needs for the government.“Total assets decline was mainly triggered by a drop in due from banks both foreign and domestic. Deposits fall mainly came from decreases in government institutions deposits and non-resident deposits.”

Qatar Research, Development, and Innovation (QRDI) Council, in collaboration with Qatar Development Bank (QDB), has concluded yet another Strategic Product Management Bootcamp, designed for entrepreneurs as well as small and medium enterprises (SMEs).Aysha Abdulhameed al-Mudahka, RDI programme director at QRDI Council said: “Empowering Qatar's entrepreneurs and SMEs is central to our mission. Through the promotion of innovation, collaboration, and knowledge sharing, we are actively building a robust and competitive SME ecosystem enriched with a diverse pool of RDI talent. This training programme aligns seamlessly with our strategic approach towards National Vision 2030, underscoring QRDI Council's dedication to cultivating a sustainable, innovation-driven future and positioning Qatar as a global leader in research, development, and innovation.”The programme provided valuable insights and featured compelling stories from guest speakers and entrepreneurs, who shared the challenges of their paths to success. Highlights included Wisam Costandi, founder and CEO of EMMA, and Reema al-Kuwari, founder and CEO of Adeer, both of whom shared expert advice and strategic approaches to achieving a successful business. Al-Kuwari is also a graduate of a past Strategic Product Management Bootcamp, adding further depth to her expertise and perspective.Over the course of five days, participants engaged in a range of interactive activities, starting with an in-depth exploration of the 5D framework through advanced market research techniques. They learned to identify different types of business roadmap and participated in focused sessions on customer engagement and product launch preparation.These sessions covered every aspect of the launch process, from creating a launch plan and addressing potential delays to managing stakeholder expectations. On the final day, participants presented pitches of their final propositions, showcasing the key insights and skills they had acquired throughout the training.

Icelandair, based in Keflavik, has taken delivery of its first ever Airbus aircraft – a significant shift across the aisle for an all-Boeing operator, until now. The jet that won the order for the Icelandic carrier? The A321LR- the first of four to be leased from SMBC Aviation Capital Limited. The airline will also take delivery of 13 A321XLRs.Powered by Pratt & Whitney GTF engines, Icelandair’s A321LR comprises 187 seats in a two-class configuration (22 Business and 165 Economy Class seats). The aircraft’s airspace cabin features XL bins, providing 60% more stowage space compared to previous generation aircraft for a more relaxed boarding experience for passengers and cabin crew alike. In addition, Icelandair passengers will benefit from advanced gate to gate connectivity, next generation inflight entertainment and the latest lighting system enhancing well-being and the overall passenger experience on board.The A321LR is ideally suited to transatlantic routes, providing extended range with an aircraft capable of flying routes up to 4,000 nautical miles. The A321LR’s technology and advanced fuel efficiency delivers at least 20% fuel savings and CO₂ reduction compared to previous generation single-aisle aircraft. In addition, as with all Airbus aircraft, the A321neo aircraft is already able to operate with up to 50% Sustainable Aviation Fuel (SAF), increasing to up to 100% SAF capability by 2030. Icelandair’s A321LR aircraft will support the airline's sustainability efforts, regarding operational efficiency while significantly reducing CO₂ emissions.Airbus’ A321 family is proving to be the money-maker for airlines, mostly due to the efficiency it’s able to deliver for airlines.A321neo (new engine option aka “NEO”) — which first flew in February 2016 — has a range of approximately 3,700 nautical miles. It’s also capable of flying transatlantic between Paris and New York in an all-Business Class configuration — but most airlines are using the jet for mid-haul routes. Airlines are still able to place orders for the jet.A321LR (long-range) — the aircraft first flew in January 2018, has a range of approximately 4,000 nautical miles, and is capable of flying from London to New Delhi non-stop. It’s already in service with multiple airlines, including TAP Air Portugal, Aer Lingus, Kazakhstan’s flag carrier, Air Astana, and Scandinavian Airlines.A321XLR (extra long-range)— The aircraft has a range of over 4,700nm and an increased maximum take-off weight (MTOW) of 101 tonnes, enabling the jet to be fitted with a permanent Rear Centre Tank (carrying an extra 12,900 litres of fuel) and an optional forward tank. American Airlines, United, and Qantas are set to take the jet. It entered service with Iberia last month.The A321XLR has secured dozens of orders. Australia’s Qantas Airways is backing Airbus’ new extended range A321XLR with an agreement covering 36 aircraft. International Airlines Group (IAG) has selected the A321XLR to expand its fleet of highly efficient single aisles with a firm order for 14 aircraft. Of these, eight are destined for Iberia, which became the launch customer operator of the jet last month. IAG, the parent company of major airlines also including British Airways, Level and Vueling, is one of Airbus’s largest customers and this agreement will take the overall order from the group to 530 aircraft. IAG airlines combined operate one of the world’s largest Airbus fleets with over 400 aircraft. Qatar Airways remains the single largest shareholder in IAG.Willie Walsh, now IATA chairman, but former IAG chief executive, said at the time of the order: “The A321XLR has the same unit cost as a widebody long-haul aircraft which will enable profitable network expansion. This will strengthen both Dublin and Madrid hubs providing new transatlantic routes and additional flexibility for connecting passengers. These aircraft will also bring further cost efficiencies and environmental benefits.”Air Canada will also take the A321XLR, Michael Rousseau, President and Chief Executive Officer of Air Canada said: "Air Canada is committed to further strengthen its market-leading position, especially through investments in new technology. The acquisition of the state-of-the-art Airbus A321XLR is an important element of this strategy and will drive our core priorities of elevating the customer experience, advancing our environmental goals, network expansion and increasing our overall cost efficiency.”Gerd Weber, Head of A320 Family Value Stream Management & FALs points out: “In the final assembly of the A321XLR aircraft there is not a big variation compared with the other A321 aircraft. The major differences in the -XLR are seen in the ‘pre-final assembly’, at section assembly level, where the rear-centre-tank is installed, for example.”He added: “This test aircraft has a partial cabin installed to leave space for all the required flight test equipment. What is also specific for this first A321XLR aircraft is that there is a lot of documentation work to be done, especially for flight test installation, which is very different from our serial process. This requires a special focus by all the teams in closing the documentation and dealing with any discrepancies.”The author is an aviation analyst. X handle @AlexInAir.

The GCC or Gulf Co-operation Council economies will more than double their growth from 1.9% in 2024 to 4% in 2025, according to The Institute of Chartered Accountants in England and Wales (ICAEW).This acceleration comes despite the extension of Opec+ oil production cuts and positions the GCC to significantly outperform global GDP growth, which is projected to increase modestly from 2.7% in 2024 to 2.8% in 2025, according to the latest ICAEW Economic Insight report prepared by Oxford Economics.“The business landscape across the GCC continues to evolve and mature, creating new opportunities for growth and innovation," said Hanadi Khalife, Head of Middle East, ICAEW.The report said the direct impact of US President-elect Donald Trump’s policies on the GCC growth is likely to be limited in the near term, but it is slightly more cautious on its GCC growth projections."We see a broadly steady performance of the non-energy sectors, with expansion of 4% this year and next. We expect Trump’s policies will take time to feed through, with the impact on growth performance occurring mostly in 2026-27," it said.Finding that oil prices have been volatile in recent months, buffeted by geopolitical tensions in the region on one hand and concerns over demand on the other; ICAEW said the Opec+ alliance has delayed a planned supply increase until January (from December previously) in the face of weak demand, reinforcing the group's commitment to supporting oil prices.Highlighting that Trump’s stated support for the domestic energy sector may limit the pace of unwinding of the Opec+ supply cuts, although he will likely be tougher on Iran, potentially removing some of its crude exports off the market; the report said "we now expect Opec+ to keep output steady until the second quarter of 2025, and we forecast oil prices to average $72.6 per barrel in 2025 (down from $77.5 we forecast three months ago) and $71.5 in 2026."The extension of oil output cuts by the Opec+ group prolongs the drag from the energy sectors on GCC growth, but it expects oil activities would rebound "strongly" in 2025, with growth of 4.2%.Stressing that the GCC's projected 4% growth in 2025 highlights the success of the region’s diversification efforts amid global challenges; Scott Livermore, ICAEW economic adviser, and chief economist and managing director, Oxford Economics Middle East, said as the region continues to expand its tourism, real estate and financial sectors; managing capacity constraints in these high-growth sectors, as well as navigating global uncertainties, will be key to sustaining momentum and long-term economic stability.”Regional PMIs (purchasing managers’ index) remain firmly in expansionary territory, supporting its positive outlook for the GCC non-energy sectors, which look on track for a 4% expansion this year and next, according to the report.Fiscal revenue performance has been impaired by ongoing oil production cuts and lower oil prices but should stabilise in 2025, it said, adding meanwhile, government spending will likely rise only modestly next year."Overall, this will result in the aggregate GCC budget position remaining in a small surplus, thanks to ongoing surpluses in Qatar and the UAE," it said.The ICAEW has raised the aggregate GCC inflation projection slightly to 1.8% this year (1.7% before) and 2.3% in 2025 (up 0.2pp on three months ago).Recent readings show inflation is below 1% in Bahrain, Oman and Qatar, while it slowed to a four-year low of 2.4% in Kuwait.The GCC central banks will follow the rate path of the US Federal Reserve given the exchange rate pegs against the US dollar, it said.Following 75bps (basis points) in cumulative rate cuts in September and November, its baseline forecast assumes a 25bps rate cut in December, but it has scaled back expectations for Fed easing next year and now forecast a total of 75bps (down from 100bps)."There is a risk that the (US) Fed could deliver even fewer rate cuts than what we assume in our updated baseline," it said.

The OECD warned Wednesday that protectionist trade measures pose a major risk to disrupting the world economy, just weeks before Donald Trump is set to return to the White House.The Organisation for Economic Co-operation and Development(OECD), a Paris-based body that advises industrialised nations on policy matters, never named Trump in its updated analysis of the world economy.But with the president-elect vowing to slap tariffs on US trading partners after his return to power next month, it was abundantly clear that the OECD was warning about Trump's possible measures.While the organisation raised its 2025 global growth forecast to 3.3%, it cautioned that "greater trade protectionism, particularly from the largest economies" poses a "downside risk" along with geopolitical tensions and high public debts.On the campaign trail, Trump threatened blanket tariffs of at least 10% on all imports and since his election has vowed to slap 25% import tariffs against Canada and Mexico, top US trade partners."Increases in trade-restrictive measures could raise costs and prices, deter investment, weaken innovation and ultimately lower growth," the OECD warned in its economic outlook."Further increases in global trade restrictions would add to import prices, raise production costs for businesses and reduce living standards for consumers," it added.During his first term in office from 2017-2021, Trump slapped tariffs on certain products from China and other trading partners, including the European Union, but on a smaller scale than the measures he has pledged to take upon his return to the White House.A recent study by the Roland Berger consultancy calculated the cost of the US measures and likely countermeasures by China and the EU at more than $2.1tn through 2029.Trump is far from the only risk in terms of protectionist measures.The Covid-19 pandemic and the war in Ukraine showed the dependency of many countries upon global trade, but instead of facilitating the exchange of goods and service many countries have sought to shorten certain supply chains and protect markets.A spat has also broken out between Brussels and Beijing after the EU imposed import tariffs on Chinese electric vehicles. China has retaliated with tariffs on EU brandy, including cognac.The OECD noted "the global economy has demonstrated remarkable resilience despite being subject to major shocks such as the pandemic and an energy crisis." It even raised its global growth forecast for next year to 3.3%, an increase of 0.1 percentage points from its previous outlook in September, due in large part to the strong performance of the US economy.The OECD now sees the US economy expanding by 2.4% next year, up from its September forecast of 1.6% growth.It also raised its forecast of British growth next year by 0.5 percentage points, to 1.7%, due to higher public spending planned by the new Labour government.China's economy is now expected to expand by 4.7% next year, an increase of 0.2 percentage points, while India's growth forecast was raised 0.1 percentage points to 6.9%.But both France and Germany saw to 0.3 percentage point cuts to their 2025 growth forecasts, to 0.9% and 0.7%, as both countries face political crises amid mounting fiscal pressure.The downgraded forecast comes as France's new minority government faces being brought down Wednesday by lawmakers after it forced through the adoption of the social welfare budget.

The European Central Bank (ECB) is likely to cut interest rates again next week and while policymakers are set to debate a bigger-than-usual move, they should proceed carefully, according to Governing Council member Martins Kazaks.“We’ll definitely discuss this,” the Latvian official told Delfi TV on Wednesday. “But one thing that you have to keep in mind is that uncertainty is still very high. We are still in a situation where there are still a lot of geopolitical risks. We don’t know how the US will implement tariff increases. We don’t know, therefore we still have to remain cautious.”While not ruling out a 50 basis-point reduction in the deposit rate on December 12, investors see an 80% chance of another quarter-point move to match the three cuts to date this year.Most officials are signalling that another step of that size is the likeliest outcome, though Bank of France Governor Francois Villeroy de Galhau said they should keep open minds. JPMorgan Chase & Co last week brought forward its call for a half-point decrease in December — it previously had expected such a move only in January — citing weak economic growth, slowing services inflation and persistent trade uncertainty.Other policymakers have shied away from demanding an outsized step. Vice President Luis de Guindos highlighted last month that the rate-cutting path is more important than the actual size of any reduction.Executive Board member Isabel Schnabel said she never rules anything out, but has a “strong preference for a gradual approach.”Speaking earlier in the day, Kazaks said consumer-price growth that’s nearly in check is the reason the ECB should continue to cut borrowing costs.“We see that the inflation problem will soon end, and that means that we can lower rates,” he told Latvia’s TV3, while also highlighting threats, including US trade policy.“Of course uncertainty is very high, of course we don’t know the first steps of Donald Trump when he takes office, tariffs could also slow again Europe’s economy, but altogether the story is that Europe’s economy is going from its lowest point upwards.”Speaking at a conference in Athens, Greece’s Yannis Stournaras — who’s also flagged the dangers from Trump in the past — agreed with Kazaks that inflation is in retreat and that “in December we will continue to reduce interest rates.”In a separate interview with the Financial Times, ECB Chief Economist Philip Lane said the impact of potential US trade levies could hit euro-area inflation in “both directions.”“It’d be very important, I think, not to say that there’s necessarily a net bias in either direction,” he said on an FT podcast aired Wednesday. “I can list out disinflationary forces, I can list out some inflationary forces. And then, when you put all of that together, what exactly happens will very much depend on the exact sequence of events.”

Qatar Chamber has participated in the first Gulf-Jordanian Investment Conference held in Jordan.The chamber’s delegation was led by second vice-chairman Rashid bin Hamad al-Athba and included board members Mohamed bin Mahdi al-Ahbabi and Nasser bin Sulaiman al-Haider, as well as several Qatari businessmen.The conference aimed to strengthen trading relations between the Gulf Co-operation Council and Jordan, explore joint investment and commercial opportunities, and enhance trade exchange between the two sides.The conference's working sessions explored the scope of partnerships between the GCC and Jordan, highlighting investment prospects and the challenges of developing investments.Discussions focused on sectors such as transportation, logistics, tourism, and medical tourism, while also addressing the potential for strategic partnerships in agriculture, food security, and food industries.

MATAR, the Qatar Company for Airports Operation and Management, which operates Hamad International Airport and Doha International Airport, concluded its MATAR Airport Safety and Security Week Wednesday.The event held at Hamad International Airport focused on the importance of upholding the highest safety and security standards, underscoring MATAR’s commitment and leadership in the aviation industry.The three-day event brought together stakeholders and airport workforce for engaging activities such as practical demonstrations, walkthroughs, and toolbox talks.These activities promoted the principles of the Safety Management System (SMS) and Aviation Security (AVSEC) ensuring compliance with Qatar Civil Aviation Regulations and international standards while strengthening MATAR’s commitment to a safety and security-first culture.Hamad Ali al-Khater, Chief Operating Officer at Hamad International Airport, said: “Hosting the MATAR Airport Safety and Security Week fosters collaboration, knowledge-sharing, and a unified commitment towards safety and security, as it is pivotal to us as an airport operator.“Together, we are building a resilient, efficient, and world-class operation that instils confidence in passengers, stakeholders, and the global aviation community.”The success of the MATAR Airport Safety and Security Week was driven by active participation of MATAR’s internal teams and stakeholders and how the close collaboration reinforced MATAR’s commitment that, safety and security is a shared responsibility across all facets of airport operations.

QNB Group, received the ‘Bank of the Year Qatar’ award from The Banker magazine, during a ceremony held recently in London to recognize banks across the world, mapping their financial strength and soundness via Tier 1 capital, their profitability and their performance versus their peers.This award comes as a recognition of the QNB’s continuous product development, service quality, wide array of digital banking services, enhanced customer experiences, seamless banking, innovation and technology, and overall performance in the market of Qatar.The award falls under a highly competitive selection process that collects over 1,000 different entities, and it highlights QNB’s exceptional performance in Qatar.Commenting on this award, QNB Group Chief Executive Officer Abdulla Mubarak al-Khalifa, said: “We are deeply honoured to be recognized as the Best Bank in Qatar by The Banker. This prestigious accolade underscores our unwavering commitment to delivering exceptional banking services, driving innovation, and addressing the evolving needs of our clients.“At QNB, we are dedicated to excellence and remain steadfast in our mission to contribute to Qatar's financial growth while setting new benchmarks in the banking industry”.QNB Group is one of the leading financial institutions in the MEA region and among the most valuable banking brands in the regional market.

Qatar Airways Cargo has signed a memorandum of understanding (MoU) with Japan Airlines to strengthen their partnership and enhance their product offerings to cargo customers.This follows the announcement earlier this year that Japan Airlines started daily passenger flights from Tokyo Haneda Airport to Hamad International Airport in Doha.Qatar Airways Cargo and the Japan Airlines Cargo division (JALCARGO) have now expanded their long-standing relationship as oneworld partners by signing this MoU. The agreement aims to deliver an enhanced product offering to cargo customers and achieve operational synergies.In the presence of Qatar Airways’ Group Chief Executive Officer, Badr Mohammed al-Meer, the MoU agreement was signed by Qatar Airways Cargo’s Chief Officer, Mark Drusch and Japan Airlines Executive Officer, Senior Vice-President, Head of Cargo and Mail, Yuichiro Kito.Drusch said: “This MoU symbolises a commitment to a deeper partnership, aiming to integrate both networks via the hubs in Doha and Tokyo. This will enhance network connectivity and product offerings for customers, linking Japan to Qatar Airways’ extensive network in Europe, the Middle East, the Levant, and Africa, and vice versa. Customers will benefit from improved connectivity and access to a wider range of destinations.”Kito said: “This agreement further strengthens the long-standing partnership between JAL and Qatar Airways Cargo. For the first time in 13 years, we have commenced the operation of our own freighters. Through this agreement, JALCARGO will leverage JAL's passenger flights, freighter network, and the newly expanded Qatar Airways network to deliver customers' cargo to an even broader range of destinations than ever before.”Qatar Airways Cargo and JALCARGO are committed to streamlining the transfer of cargo between the two carriers, ensuring a more efficient process for customers. Both parties will enhance their collaboration by optimising their mutual networks and plan to extend their cooperation into various fields.The partnership will be further enhanced next year, when Qatar Airways Cargo will begin freighter services between its hub at Hamad International Airport and Japan Airlines hub at Tokyo Narita airport.The partnership is expected to generate significant economic value by enhancing trade flows between the regions served by Japan Airlines and those served by Qatar Airways Cargo.Over the past 12 months, both carriers have transacted 4,462 tonnes of import and export cargo in Japan, highlighting the substantial impact of their collaboration.

The air cargo sector continues its impressive momentum, achieving 15 consecutive months of growth as of October and positioning itself to close 2024 as a landmark year.Air cargo is vital for the airline sector in particular and global economy in general, playing a multifaceted and indispensable role.Air cargo serves as a critical revenue stream, especially during periods of reduced passenger travel, such as during pandemics or seasonal downturns.Freighters transport goods swiftly across continents, enabling businesses to access international markets and sustain global supply chains.Airlines around the world optimise fleet utilisation by balancing passenger and cargo loads, ensuring profitability even on less populated routes.While 2024 is shaping up to be a banner year for air cargo, industry captains say 2025 must be looked with some caution.The air cargo industry approaches the new year with measured caution, as proposed US tariffs have the potential to disrupt global supply chains and erode consumer confidence.The incoming Trump Administration’s announced intention to impose significant tariffs on United States’ top trading partners—Canada, China and Mexico—has the potential to upend global supply chains and undermine consumer confidence, according to the International Air Transport Association (IATA).IATA's data for October global air cargo markets, show continuing strong annual growth in demand.Total demand, measured in cargo tonne-kilometres (CTKs), rose by 9.8% compared to October 2023 levels (10.3% for international operations) for a 15th consecutive month of growth.Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 5.9% compared to October 2023 (7.2% for international operations). This was largely driven by an 8.5% increase in international belly capacity.Dedicated freighter capacity increased by 5.6%, the seventh consecutive month of growth with volumes nearing 2021 peak levels.IATA’s Director General Willie Walsh said: “Air cargo markets continued their strong performance in October, with demand rising 9.8% year-on-year and capacity up 5.9%. Global air cargo yields (including surcharges) continue to rise, up 10.6% on 2023 and 49% on 2019 levels. While 2024 is shaping up to be a banner year for air cargo, we must look to 2025 with some caution.“The incoming Trump Administration’s announced intention to impose significant tariffs on its top trading partners — Canada, China and Mexico — has the potential to upend global supply chains and undermine consumer confidence. The air cargo industry’s proven adaptability to rapidly evolving geopolitical and economic situations is likely to be tested as the Trump agenda unfolds."According to IATA, several factors in the operating environment should be noted.Year-on-year, industrial production rose 1.6% in September while global goods trade increased 2.4% for a sixth consecutive month of growth. The increase in trade is partly due to businesses stockpiling inventory ahead of potential disruptions, like the US port strike.Global manufacturing activity rebounded in October. The Purchasing Managers Index (PMI) for global manufacturing output was above the 50-mark, indicating growth. However, the PMI for new export orders, remained below the 50-mark, suggesting ongoing uncertainty and weakness in global trade.US headline inflation, based on the annual Consumer Price Index (CPI), rose by 0.17 percentage points to 2.58% in October, ending a six-month decline. In the same month, the inflation rate in the EU increased by 0.24 percentage points to 2.33%.China’s consumer inflation fell to 0.29% in October, sparking concerns of an economic slowdown.With the rise of online shopping, air cargo ensures the rapid delivery of goods, meeting consumer expectations and driving digital economy growth.It plays a pivotal role in the delivery of high-value, time-sensitive items, including medical supplies, vaccines, and perishables, often in life-saving situations.Air cargo links remote regions to global trade networks, fostering economic inclusivity and supporting local industries.Undoubtedly, air cargo is not just a segment of the airline industry; it is a cornerstone of global connectivity, enabling economic growth, innovation, and resilience

Angola plans to continue restructuring state-owned airline TAAG next year before initiating the carrier’s privatisation process in 2026.Transport Minister Ricardo Viegas d’Abreu said on Monday the aim is to sell a direct stake in the 86-year-old airline to a partner that will help reduce operating costs and bolster TAAG’s global presence.“Right now TAAG is restructuring the fleet,” Viegas d’Abreu said in an Bloomberg Television interview in Luanda, the capital. “2026 will be the year where we will start engagement and negotiations and talks of the privatization of TAAG.”The Luanda-based airline’s biggest attraction lies in its links to Angola’s provinces and regular flights to Portugal and Brazil. TAAG has relied on government support for decades to make ends meet and posted a net loss of 90bn kwanzas ($97.5mn) in 2023.The privatization of TAAG takes place as Angola invests billions of dollars in a new airport and rail infrastructure in a bid to attract foreign investment and diversify the economy away from oil. It also comes as the government prepares to announce the winner of a tender to operate Luanda’s newly built $3bn international airport.“I would say in the coming weeks we will be announcing the entity that will be awarded the concession of the new international airport,” said Viegas d’Abreu, a former banker who has been transport minister since 2018. He declined to provide details.The Chinese-built airport, which is expected to handle 15mn passengers a year, is one of the country’s biggest infrastructure projects and aims to play a major role in boosting air connectivity in Africa, the minister said.“Although we all talk about the aviation opportunities in Africa, aviation in Africa only represents 2% of the global aviation,” said Viegas d’Abreu. “The room for growth is enormous.”His comments took place during President Joe Biden’s trip to Angola - the first visit to Africa by a sitting US leader in almost a decade. Viegas d’Abreu said he hoped Biden’s visit would help bolster Angola’s efforts to diversify its economy away from oil, which accounts for more than 90% of the country’s exports.“We have the major US oil companies here for 70 years,” said Viegas d’Abreu. “We have also China, which is a very important commercial partner for Angola. So we, we are looking for partners that are willing to support our own agenda and strategy for sustainable development.”