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Qatar and the GCC countries have the infrastructure most ready to utilise artificial intelligence (AI), noted HE the Minister of Municipality, Abdullah bin Hamad bin Abdullah al-Attiyah.Speaking at a panel session at the Qatar Economic Forum Wednesday, Attiyah said: "the GCC as a whole has the unique opportunity to lead in smart cities and actual use of AI in urban planning."“I always believe that the biggest place that can invest in AI is the Middle East, because we are already prepared. We have a very modern infrastructure... we have the cheapest energy in the world... and we have all the infrastructure ready for data centres. But yes, being smart, I totally agree, you need to be flexible, and you can diversify your real estate from offices to apartments, or from databases to energy transition, or to health centres.Al-Attiyah said: “And it seems that every time we have a global talk, real estate investors’ talk about it... like back in Covid, people were talking about health services and how it is very good to invest in health services.“And that was just two years ago. Now we are talking about databases because of AI. Honestly, I think in real estate (globally), there are very good opportunities, but it is really picking up from where it was last year. Interest rates are coming down, and I believe they will continue to come down.”“Obviously, there are some uncertainties. Geopolitical tensions and trade policies will put pressure on it. However, if you don't invest now, when will you then?Asked whether the neighbouring countries are posing competition to Qatar in developing infrastructure or real estate, al-Attiyah said: “I believe the whole Gulf is one country. We build on each other. Whatever good stuff happening in Saudi Arabia...the big boom and the big investments... we are benefiting from that. One of our biggest batch of tourists come from Saudi Arabia.“We are working very closely with Dubai as well. We are actually building on each other.”On Qatar, the minister said: “We are the safest country in the world. In Qatar, we have the best schools. We want to build on that.“We want a place where your lifestyle will be different, where you can see your children going to schools without the need to go through security. You have been to Qatar... you have been through our new cities...our smart cities... and you know what we have to deliver.”The minister noted that Qatar National Vision 2030 was built on learning from others.“We started late, when it comes to the infrastructure game. And that is why I am saying, we have the best infrastructure in the world, because we learned from everyone else. Who do you think were the consultants who built or designed our infrastructure? They are from the US...we had people from Singapore... from the UK. So, everything was put into that.“That is why I am saying, our infrastructure is the most ready to utilise AI, because we have all the data. AI cannot work without having the data to actually access.”Al-Attiyah also said the appetite for real estate will always be there.“While investing in real estate, it is important to note that quality does matter, location does matter. Real estate does go with the economy, but it will always have something that will pays one back. Now that people are getting back to offices, post-Covid, we need good quality new offices... they are in demand globally.“Real estate is a good place to invest in. There is a saying in Arabic... real estate can get ill, but it will never die!”

Qatar's tourism sector is witnessing an unprecedented surge, recording 5mn visitors and 10mn room nights in 2024, marking a significant 25% increase from the previous year, according to Qatar Tourism (QT) chairman HE Saad bin Ali al-Kharji.Speaking during the 'Tourism in Focus' session at Qatar Economic Forum 2025 Wednesday, he said this growth underscores Qatar's strategic shift from solely focusing on visitor numbers to prioritising the economic impact generated by extended stays.He announced that the tourism sector contributed QR55bn to the national GDP in 2024, representing 8% of total economic output — a 14% increase over 2023. He assured that Qatar is well on track to achieving its Tourism Strategy 2030 goal of contributing 12% to GDP, highlighting the sector’s increasing importance in the nation’s broader economic diversification strategy.HE al-Kharji underlined Qatar’s leading position in regional room night growth, with a 22% increase, surpassing other prominent Gulf destinations.“I'm very happy to find Qatar ranking number one in the region with a growth around 22% in room nights,”, he added, noting that Abu Dhabi and Kuwait followed with 8-10% growth.The session, moderated by Joumanna Bercetche of Bloomberg Television, explored the evolving landscape of global tourism, touching upon luxury, sustainability, health tourism, and Gulf competition.Al-Kharji noted that Qatar is strategically building on the momentum from the 2022 FIFA World Cup, which HE the Prime Minister likened to an 'IPO moment' for the country." He said the nation continues to host various international events, utilising its state-of-the-art infrastructure.“The big events are non-stop that we host in Doha, and to utilise the great infrastructure we have," he said, noting that this year alone, Qatar is set to host the FIFA World Cup Under 17, the Arab Cup for the second time, and Formula 1 in the last quarter. He added that Doha is currently hosting the World Cup for Table Tennis, and will host the 2027 Basketball World Cup, as well as the Asian Games for the second time in 2030.Joining al-Kharji on the panel was Accor Group Chairman and CEO Sébastien Bazin, who has visited Qatar more than 100 times in the past three decades and expressed his long-standing admiration for the country's development.Bazin expressed optimism for the global travel industry, predicting a “golden age” where demand will significantly outpace supply. “The tourism travel industry is a blessed industry," he said, adding that demand has consistently grown at 3-5% annually for the past 50 years against a supply growth of 1.5-2%. He forecasts this trend to intensify in the next two decades, with demand potentially increasing by 4-6% while supply remains at 1.5-2%.This unprecedented growth, according to Bazin, is fueled by three key factors: higher global demography, the rapid growth of the emerging middle class, and improved means of transport. Accor considers the GCC region to be the fastest-growing globally for its business, having increased by 32% since pre-Covid times.Bazin also cited the emotional aspect of travel, stating, “You always forget what people say, you always forget what people act but you don't forget what they make you feel.”He underscored Accor's focus on creating feelings, sentiments, memories, and souvenirs, particularly within the luxury segment, aligning with Qatar's efforts to diversify its offerings to ensure longer, more enriching “staycations” for visitors.

Annual two-way goods trade between Asia-Middle East is projected to more than double to over $1.9tn by 2035, noted Selim Kervanci, CEO, MENAT at HSBC. GCC-Emerging Asia trade is on track to reach $682bn by 2030 (at 7.1% per year), and Gulf-China trade is set to grow from $225bn in 2023 to $325bn by 2027, surpassing the Gulf’s trade with Western economies. From June 2023 to June 2024, Middle East sovereign wealth funds have invested $7bn in China – a five-fold increase year-on-year (y-o-y).“Our 160-year heritage in Asia and over 130-year presence in MENAT, gives us the expertise and reach to help execute meaningful connections. We are accelerating Asia-MENAT trade connectivity through strategic partnerships. Last week, HSBC Hong Kong signed MoUs with Chinese firms PCI Technology Group and Meetsocial in Qatar and Kuwait during a recent HKTDC-led mission, supporting their expansion into GCC markets,” Kervanci said. He said the Asia-MENAT corridor is entering a transformative phase as supply chains diversify and regional partnerships deepen. HSBC is investing in digital trade, sustainable finance, and sector expertise to help clients capture new opportunities and navigate challenges.The bank’s brand strength, global network, more than 130-year regional legacy, and deep client trust provide a strong competitive edge in facilitating these flows across this corridor.It brings significant and accelerating opportunities across capital markets, wealth management, and a wide range of sectors, from infrastructure and energy to technology and healthcare. As trade, investment, and capital flows deepen between the two regions, businesses and investors are increasingly seeking partners with deep local insight and global connectivity.HSBC, with its strong presence across both Asia and MENAT and its universal banking capabilities, is uniquely positioned to support clients in capturing these opportunities.“According to our research, MENAT could see the average pace of growth rise to above 3.5% this year, up 1.4 percentage points on last year’s average. This should lift MENAT GDP to almost $4tn by the end of 2025, up more than 40% on its pre-Covid-19 level.The size of the Gulf’s giga project pipelines are estimated to be worth approximately $3tn, and let’s not forget – MENAT is home to four of the world’s 10 largest sovereign wealth funds – that’s a significant concentration of global wealth within this region,” Kervanci said. The region will continue to attract strong inbound and outbound capital flows by deepening local markets, advancing regulatory reforms, and positioning itself as a global investment hub at the crossroads of Asia, Europe, and Africa.Despite these opportunities, challenges persist, including the need to adapt to evolving regulatory environments, economic and geopolitical uncertainties, and the need to build sustainable and resilient supply chains.HSBC is well positioned to support its clients in addressing these challenges by leveraging its international expertise, investing in digital platforms, and fostering partnerships that support clients’ ambitions in this dynamic corridor.He noted MENAT is a key growth region for HSBC and a profit accelerator beyond its two home markets – UK & HK.“We are aligned with our global ambition to be Number 1 in Corporate and Institutional Banking (CIB) and be the bank of choice in International Wealth and Premier Banking (IWPB). “We are investing in our people, in technology, and in expanding what we can offer here. If there is one region that we will continue investing in when it comes to transaction and institutional banking business, it is the Middle East.”Kervanci noted, “Last week we announced the creation of a refocused capital markets and advisory business, building on our competitive strengths and creating a more comprehensive product offering to clients on the private side. The aim is to strengthen the bank’s global focus on debt financing, as well as strategic advisory in Asia and the Middle East. Over the next three years, we will also continue to invest in our international wealth business to meet the needs of affluent customers, including our Private Banking clients in Qatar.“We have the products and skills required to serve the global banking needs of international corporate clients, particularly in transaction banking.”He said privatisation programmes are a key growth engine for MENAT governments and institutions, and HSBC continues to lead. “We acted on 90% of all jumbo IPOs of over $1bn in the Middle East and led half of all equity raised on Middle East capital markets since 2021. We are the only bank to have topped the Middle East League Tables for ECM and DCM activity in four consecutive years and led eight out of the 13 largest international IPOs in 2024.HSBC continues to play an instrumental role in thought-leadership in Qatar’s transition to net zero ambitions – we have contributed towards the development of sustainable finance frameworks for the Ministry of Finance, Qatar Financial Centre and Al Rayan Bank to name a few.“We were part of landmark transactions that include QNB’s inaugural green bond issuance, State of Qatar’s debut green bond issuance, green financing for Rosewood Hotel (owned by Qatari Diar) in London and advising Nebras Power in its 49% investment in the windfarm renewables project in Australia.“Most recently we participated in the green term loan facility for Qatar Holding, KPI ESG linked repo for Al Rayan Bank and the sustainability linked facility for Qinvest,” Kervanci said. HSBC has deep-rooted heritage in Qatar that dates to 1954, and today we are the largest international bank, custodian to over nearly 90% of foreign institutional investor assets in Qatar, with a comprehensive investment banking platform, and the only full-service onshore and offshore private banking capability.“Our 70-year history in the country is the foundation for ongoing growth in the future, and we are committed to supporting Qatar’s private sector development and economic diversification.”He said Qatar’s economy is anchored by its well-established balance sheet strength, and the recent energy sector investment is set to bring a fresh surge in LNG production, export volumes and budget revenues, while driving growth across key sectors.The planned 85% expansion of LNG output will re-establish Qatar as the world’s leading producer. Qatar Investment Authority is the world’s 8th largest sovereign wealth fund with assets over $526bn, and a mandate to create long-term value for the country and future generations through international and domestic investment initiatives.The country is actively welcoming international investments to grow its private sector, while exploring the potential of emerging industries, such as technology, clean energy, manufacturing, tourism and sports.“We remain confident of Qatar’s near and long-term economic prospects, and our growth story in Qatar is aligned directly to the country’s economic transformation. We capture more than 90% share of foreign investors at the Qatar Exchange (custody) and more than 50% share of multinational corporates business in Qatar. Many of our milestone achievements over the past seven decades are the product of combining local expertise and global connections to deliver unique banking solutions.“Our offering is comprehensive and ranges from credit and lending solutions to global trade, payments, markets and advisory solutions, designed to meet the evolving needs of large family groups and mid-market enterprises. Our international footprint enables us to support international subsidiaries of Qatari private businesses in all markets globally where HSBC has presence.At the same time, we help Qatari private businesses manage the banking needs of their joint ventures with inbound multinational businesses,” Kervanci added.

Qatar Airways Group has registered a 28% growth in its profit for the financial year 2024/2025 to more than QR7.85bn, which is the “strongest set” of financial results in its history.The profit shows an increase of more than QR1.7bn on the year before, Qatar Airways said yesterday.Announcing the financial results in Doha, the national airline said its cargo arm - Qatar Airways Cargo, which is the world’s leading cargo carrier, has delivered a remarkable financial performance, recording a 17% growth in revenue and achieving the best financial results since Covid-19.“This is attributed to its agility in adapting to shifting market conditions, a focus on investing in digitalisation, deeper data-driven analyses, and its best-in-class reliability,” Qatar Airways said.Qatar Airways Group Chairman HE Saad Sherida al-Kaabi, who is also the Minister of State for Energy Affairs, said: “These financial results show yet again Qatar Airways Group’s leadership position not just in global aviation, but in driving the global economy. The achievements across the 2024/2025 financial year continue to position the airline and Group as a global economic force.“This is not just a product of our employees’ hard work, but of thoughtful, deliberate and strategic planning, which has allowed the business to thrive in a stable and sustainable way.“Record-breaking profitability, underpinned by sound business decisions, is a hallmark of our success and I have every confidence that we’ll see it continue.”Qatar Airways Group Chief Executive Officer Badr Mohammed al-Meer said: “These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group. I know that none of the outstanding results we are announcing today would be possible without our people – more than 55,000 of them across the globe - and it is our focus on fostering that talent, which has been a core focus of our Qatar Airways 2.0 strategy.“We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events, whether political, economic or environmental.“All of this means we continue to offer and develop exceptional service in the skies, whether it’s the award-winning Qsuite, fine dining, or super-fast complimentary Starlink internet connectivity for all passengers.”Key achievements of Qatar Airways Group over the last financial year include:- Record-breaking 28% increase in profit in 2024/2025 financial year.- Expansion of Hamad International Airport, enabling it to cater for 65mn passengers annually.- First global airline, and first in MENA region, to install Starlink super-fast WiFi on its Boeing 777 fleet.- 25% minority stake in Virgin Australia.- 25% acquisition of South African premier regional airline, Airlink.- Introduction of conversational AI into its world-first digital cabin crew, Sama.- A range of technical MoUs future-proofing and diversifying the business across the sector, as well as working to fulfil the ambitions of the Qatar National Vision 2030.Qatar Airways recently made historic aircraft and engine orders, ensuring that its already modern and technologically-advanced fleet remains at the forefront of commercial aviation, providing world-leading service to passengers across the globe.

The Medical Unit of the Qatari Hajj Mission has affirmed its full readiness to deliver top-notch healthcare services to pilgrims from the State of Qatar, in close coordination with the Ministry of Endowments (Awqaf) and Islamic Affairs, the Ministry of Public Health (MoPH), Hamad Medical Corporation (HMC), and the Primary Health Care Corporation (PHCC).Head of the medical unit of the Qatari Hajj Mission, Dr. Khalid Abdul Hadi, emphasized that the State of Qatar spares no effort in mobilizing all necessary medical capabilities and qualified personnel to safeguard the health and well-being of pilgrims, from the moment of their departure until their safe return.The well-being of pilgrims from Qatar is a top priority, as the medical unit operates around the clock, hiring exceptional family medicine, emergency, and epidemic physicians, alongside nursing teams, paramedics, and pharmacists who have been deployed to escort the pilgrims and provide healthcare services at the highest professional standard, Dr. Hadi highlighted.He added that both male and female medical clinics have been outfitted in Makkah Al Mukarramah and the holy sites, Mina, Arafat, and Muzdalifah, in addition to isolation, inpatient, and observation rooms, all designated to ensure rapid intervention in emergency cases.As part of a broader step to foster the medical framework of the mission, an agreement was signed this year with Saudi German Hospital Makkah, one of the Kingdom's most premium tertiary care institutions, to serve the pilgrims in case of any emerging emergencies, he said.Under this arrangement, the pilgrims will be granted priority treatment at the facility, while the hospital also provides highly skilled and specialized medical personnel to be embedded within the medical unit of the Qatari Hajj Mission headquarters for this year's season, in a concerted effort to ensure the highest standards of care for the pilgrims, Dr. Hadi explained.He stressed that pilgrims should adhere to the Saudi health requirements to get the essential vaccination shots, particularly meningitis (valid for five years), and a COVID-19 vaccination certificate, as well as receiving the seasonal influenza vaccine.It is extremely paramount for pilgrims to have these vaccinations 14 days prior to their travel, and they are available in the PHCC's centers across Qatar. Those with chronic diseases should reach out to their personal physicians to make sure they are fit to perform the Hajj rites, Dr. Hadi stressed.Dr. Hadi further explained that a special medical form has been updated for pilgrims over 60 years old, which includes a comprehensive assessment to ensure they are capable of performing Hajj rites without any potential health complications.He urged individuals with chronic conditions, particularly those with diabetes, to carry a personal medical kit to properly store medications and insulin based on recommended safety standards.In addition, he called on pilgrims to adopt preventive measures to avoid heatstroke, such as staying well-hydrated, wearing protective head coverings or using umbrellas, and maintaining strict personal hygiene, including frequent handwashing, to remain shielded against infectious and dermatological diseases.As for coordination with Hajj delegations, Dr. Hadi highlighted that the liaison unit of the Qatari Hajj Mission plays a critical role in maintaining direct communication with the delegations and streamlining medical response operations. This is ensured through a 24-hour hotline and the deployment of medical teams across all pilgrimage sites to guarantee swift intervention in health-related cases.He noted that the buildings of the Qatari Hajj Mission in Makkah comprise a dedicated floor for medical isolation, in addition to triage and rapid-diagnosis clinics, as well as treatment clinics for both men and women, and an entire floor designated for immediate clinical evaluation.Field clinics have been fully equipped at the holy sites in Mina and Arafat, with a mobile medical team escorting the pilgrims in Muzdalifah. The medical unit's personnel remain in close accompaniment to the pilgrims wherever they go, ensuring the provision of healthcare services, medical care consistent with the highest standards, and all necessary emergency response.The unit also made certain that an ambulance remains assigned to the Medical Unit throughout the Hajj season, Dr. Hadi noted.Finally, Dr. Hadi confirmed that all Qatari medical service personnel will remain on high alert to operate with high competence across all the mission's sites. He urged all pilgrims to adhere to the health tips, exercise strict diligence in terms of protection, and follow the instructions to ensure a secure and serene pilgrimage season.

The succession of global shocks over the past two decades – including the 2008 global financial crisis, the Covid-19 pandemic, Russia’s invasions of Ukraine, and rising inflation – has fuelled a resurgence of industrial policy across Europe. But the added shock of Donald Trump’s return to the White House has underscored the urgency of bolstering domestic economic resilience and integrating national and regional security priorities into economic policymaking.For the European Union and the United Kingdom – which are now facing an openly hostile US administration – the digital economy must become a central focus. Former European Central Bank President Mario Draghi’s report on EU competitiveness and the UK’s AI Opportunities Action Plan both highlight digital and AI technologies as potential engines of future innovation and growth.The challenge, however, lies in reducing Europe’s heavy reliance on major US tech firms. Whereas president Joe Biden’s administration took a confrontational approach toward Big Tech, the Trump administration has signalled that any future trade agreement will hinge on the EU scaling back its push for new digital regulations and taxes.For Europe, business as usual is no longer an option. Policymakers must develop a coherent and strategic alternative to reliance on American technology. If this sounds like a quixotic endeavour, consider the creation of Airbus, which started as Europe’s answer to Boeing. An “Airbus for AI” – a publicly funded, commercially operated alternative to US-based platforms – is both feasible and necessary.Recent experience has exposed the vulnerability of Europe’s public services and private sector to the whims of US tech executives whose top priority is to remain on good terms with their own government. Elon Musk’s willingness to breach Starlink contracts with European governments has fuelled concerns about the reliability of American platforms, as have efforts by other US firms to exploit trade tensions to lobby against European tech regulations like the EU’s Digital Markets Act and the UK’s Online Safety Act.Consequently, even if the Trump administration were to reverse its protectionist policies tomorrow, doubts about the trustworthiness of US tech companies would persist. And since Chinese tech platforms are equally problematic, it is increasingly evident that European governments must begin developing an independent digital and AI ecosystem.Politicians often shy away from necessary decisions that seem too difficult or costly. Yet in a new policy brief, Joshua Tan, Brandon Jackson, and I argue that a public-private commercial model for building large-scale European AI systems – known as foundation models – is technically and financially viable, and could be launched quickly.While European research laboratories and institutes already collaborate, they still lack a coordinated product strategy and a clear pathway from innovation to market. Airbus should serve as a blueprint. The company was established in 1970, when European governments recognised that their national aviation firms were too fragmented to compete with Boeing. France and Germany – later joined by the UK and Spain – formed a consortium that pooled expertise, resources, and funding to develop cutting-edge, innovative aircraft.Although the Airbus project emphasised commercial viability from the outset, it was also supported by public financing and industrial-policy tools such as advance purchase commitments, research investment, and technical training. Domestic political imperatives were addressed by distributing the benefits among participating countries through supply-chain specialisation.The Airbus project achieved a major breakthrough with the A300, demonstrating the potential of aligning scientific research with market needs. Developing a twenty-first-century AI equivalent will require similarly large infrastructure investments and sustained political commitment.Fortunately, the building blocks for such a model are already in place and could be mobilised quickly by a select group of European governments. Many are already investing in national public computing facilities, and several leading European labs – such as those participating in LLMs4Europe – have begun releasing cutting-edge foundation models that push the boundaries of AI research.Coordinating these efforts will be essential to achieving the necessary scale. In addition to creating value for taxpayers, this will help European alternatives differentiate themselves from dominant US tech firms – a key condition for commercial viability. Private companies like France’s Mistral show that a robust European market could be catalysed and given a defensive moat through coordinated strategic action. Singapore has also demonstrated the potential for effective public-private partnerships – though not yet at scale – and other successful models have emerged in the semiconductor sectors of Japan and the US.Given US incumbents’ first-mover advantage, any European initiative will require significant public support. But such support doesn’t have to come solely through direct funding. It can also take the form of access to public computing resources, tax advantages tied to public-interest commitments, preferential access to government datasets unavailable to US firms, and purchasing commitments from public institutions.Moreover, market demand can be further stimulated through targeted measures. For example, the EU’s AI Champions initiative, which focuses on high-value industrial applications, could serve as a powerful catalyst once a European consortium is ready to supply the necessary technology.The strategic and economic case for developing an alternative to US and Chinese AI is compelling. But a public-private, commercially driven European AI initiative should do more than serve industrial policy and security objectives; it must also reflect the culture and values of the continent’s middle powers. American-developed AI models increasingly project a US-centric worldview – one that is rapidly, and perhaps irrevocably, diverging from Europe’s. It is time for European countries to chart their own course. — Project SyndicateDiane Coyle, Professor of Public Policy at the University of Cambridge, is the author, most recently, of The Measure of Progress: Counting What Really Matters.

Tom Cruise hit the Cannes Film Festival’s red carpet yesterday to a live band rendition of the Mission: Impossible theme song as organisers pulled out all the stops to celebrate what may be the action star’s last appearance in the franchise. Expectations had been high for Cruise’s return to Cannes three years after he had presented Top Gun: Maverick with a colourful jet flyover. He could be seen mouthing “wow” and “bravo” to the band during the performance. Cruise, 62, greeted fans who had been waiting hours in the French Riviera resort town’s unrelenting sun before joining the other stars of Mission: Impossible - The Final Reckoning to walk the carpet. Fellow cast members Hayley Atwell, Pom Klementieff, Greg Tarzan Davis, Angela Bassett, Esai Morales and Hannah Waddingham posed with Cruise, even snapping a few selfies themselves, before heading into the red-bedecked Grand Lumiere Theatre. US actors Zoe Saldana and Eva Longoria, as well as Andie MacDowell, sporting a suit, and Cannes jury member Halle Berry were also spotted on their way to the Cannes premiere. Cruise reprises the role of agent Ethan Hunt for the eighth time in the latest iteration in the series from director Christopher McQuarrie due to hit US theatres on May 23. With a budget of about $400mn, the new Mission: Impossible is one of several big-name films that cinema operators are hoping will help them stay on the road to recovery this year, five years after the start of the Covid-19 pandemic. Box office receipts totalled $8.6bn last year in the United States and Canada, 25% below the pre-pandemic heights of $11.4bn in 2019.

The Public Works Authority (Ashghal) announced the launch of an ambitious five-year plan worth more than QR 81 billion to implement vital projects across various infrastructure sectors, ranging from the development of citizens' lands, government building projects, sewage networks to strategic outfalls. This strategic step outlines the features of Qatar's infrastructure over the next five years.This was unveiled during a press conference, during which HE President of Ashghal Engineer Mohammed bin Abdulaziz Al Meer outlined the most prominent features of the new plan, which complements a rich history of infrastructure achievements that have contributed to qualitative leaps over the past years, particularly during the period of hosting the FIFA World Cup Qatar 2022.HE Al Meer said that Ashghal is going to launch and implement a wide range of development projects during the coming period as part of the five-year plan 2025-2029, which is the biggest in the Authority's history in terms of the volume of investments and the number of projects. He added that these projects include the development of citizens' lands through the implementation of an integrated infrastructure that takes into account the concepts of 'humanization of cities' and focuses on improving the quality of life, in addition to constructing government buildings that serve vital sectors such as health, education, sports, and culture.He also stated that the Authority will implement advanced sewage and rainwater drainage projects, including strategic tunnels, pumping and treatment stations, and home connections, with the aim of reducing flooding and enhancing the efficiency of the national network.On the most prominent future projects, HE Al Meer announced the launch of the strategic outfalls project this year, one of the biggest sustainable projects for draining rainwater in the north and south of Doha, with plans to reuse the water for irrigation and cooling purposes, explaining that the project will consist of two phases: the first will see the launch of the main tunneling works in 2025, and the second will launch the sub-tunneling works in early 2026, in coordination with the Ministry of Municipality and the Ministry of Environment and Climate Change.As part of the state's drive to strengthen the role of the private sector, His Excellency revealed new projects to be implemented under a public-private partnership system. The most notable of these projects is the development of infrastructure for more than 5,500 residential plots in various areas, he said, noting that the work involves the implementation of internal road networks and linking them to surrounding roads, in addition to the complete infrastructure of sewage and treated water, landscaping, and street lighting.He also said that the Authority is considering tendering the second phase of the wastewater treatment plant project in Al Wakra and Al Wukair under a partnership framework.Regarding pending projects, HE Al Meer noted that Ashghal adopted alternative plans and exceptional measures to support current contractors and ensure the completion of work, emphasizing that corrective measures will be taken to evaluate the performance of contractors and consultants and accelerate the pace of completion while maintaining quality and safety standards.As part of the government's commitment to enhancing the continued growth of the contracting sector, Ashghal announced financial and regulatory support worth QAR 21 billion provided to the sector, including in direct payments and burden-relief measures, particularly following the repercussions of the Covid-19 pandemic. These measures include replacing maintenance reserves with bank guarantees in advanced projects, extending contracts for pending projects, and activating periodic contractor performance evaluations.The Authority also reported significant progress in implementing the local added value program (ICV), which aims to support local companies and enhance economic independence. It recorded positive results, most notably an increase in the number of companies registered with Ashghal from 201 in the first quarter of 2022 to 733 in the third quarter of 2024, an increase in the percentage of contracts awarded to local suppliers to 77 percent, compared to only 10 percent in 2022, and a decrease in the percentage of companies whose certificates were not renewed from 47 percent to 11 percent, with a jump in ICV points from 3,024 to more than 23,447 points.In the digital transformation and enhancement of operational efficiency, Ashghal launched an initiative to automate financial data for service providers to expedite tendering procedures and reduce administrative burdens. This initiative relies on a central database that eliminates the need to upload financial data repeatedly. It also enables proactive monitoring of contractors' performance, allowing timely action to be taken to avoid any potential challenges.In this context, HE Engineer Al Meer pointed out that Ashghal is developing the 'smart contracts' initiative to raise levels of transparency and reliability, and reduce costs and human interventions through the use of advanced digital technologies in contract management, adding that this step represents a qualitative shift in the path of contract and project management, in line with Qatar National Vision to promote innovation and sustainability.He also pointed out that the Authority's corporate strategy for the period 2024-2030 will soon be accompanied by the launch of Ashghal's new identity with an updated look that reflects the Authority's future plans, as part of Ashghal's journey towards achieving the Third National Development Strategy, leading to Qatar National Vision 2030.Through this strategy, he explained, the Authority seeks to become a global leader in project and asset management by providing distinguished services and infrastructure that keep pace with the aspirations of future generations. He pointed out that Ashghal's primary mission is to deliver and manage assets, projects, and services in a sustainable manner to satisfy its customers.He further said that Ashghal will work to confront all challenges in order to maintain Qatar's position among the ranks of developed countries by giving top priority to implementing sustainable infrastructure projects that will benefit future generations and moving more towards digital transformation in all operations and procedures.At the end of his speech, HE Al Meer thanked the wise leadership for its unlimited support of the infrastructure sector, stressing Ashghal's commitment to implementing projects with the highest standards of quality and efficiency, and achieving sustainable development befitting Qatar's global standing.

Germany’s new government has inherited a heavy legacy posing significant challenges to growth, according to QNB.Post-World War II, Germany stood as the economic powerhouse of Europe during extended periods of time. However, over the last two decades, fundamental headwinds began to accumulate.These included negative demographic trends, excessive regulatory and tax burdens, and the omission to upgrade leading sectors to adapt to the digital age and a rapidly changing global landscape.As a result, Germany’s economy has underperformed, with real GDP remaining unchanged in the last five years. This compares poorly with the 12.2% expansion for the US, or even the 5% growth for the rest of the Euro area during the same period.The incoming administration led by Chancellor Friedrich Merz could mark a turning point in economic policy and performance. For decades, Germany has been committed to fiscal discipline and austerity.In contrast, the new government enters the scene with a massive fiscal expansion package that could reach €1tn, including infrastructure and defence, together with plans for tax and labour market reforms.The economic package marks a paradign shift from Germany’s traditional fiscal conservatism, and will stimulate growth in the medium term. However, the new administration inherits considerable challenges that call for aggressive reforms to sustainably boost the stagnant German economy.In this article, QNB discusses three key factors that describe the challenges faced by the German government.First, significant structural challenges continue to erode competitiveness and productivity. The World Competitiveness Report provides a useful assessment on this dimension across countries.Just a decade ago, Germany was ranked 6th in the world. However, the country has dropped markedly to the 24th position, reflecting regulatory burdens, onerous tax policies, rigid employment laws, and administrative complexity.Excessive bureaucracy costs Germany up to €146bn a year. The loss of competitiveness is starkly reflected in productivity statistics: since 2017, output per worker has dropped 2.5%. Business leaders point to the amount of red tape and a glacial pace in moving towards the digitalisation age.This is particularly damaging in the case of startups, where bureaucratic delays can make the difference between survival and failure of a project. Because of this, companies are increasingly relocating their business to other European countries, such as Holland, Sweden, Portugal or Poland.Therefore, structural problems will continue to weigh on economic growth and need to be addressed by the new administration with measures that go beyond fiscal stimulus.Second, upgrading outdated infrastructure is critical if Germany aims to achieve a new economic growth phase. Germany’s highly conservative fiscal policy has led to an underfunding in key infrastructure areas. Public investment averaged 2.8% of GDP during 2023-2024, compared to 4.3% in France, for example.As a result of low public investment, ageing infrastructure for transportation and energy, and lagging digital technology are hindering long-term economic growth, underscoring the importance of substantial upgrades.In previous experiences, procurement and planning have taken more time than actual construction, and there are abundant examples where spending funds have gone unutilised, QNB said.In 2023, €76bn in fiscal resources went unused due to bureaucratic and regulatory hurdles. Thus, an infrastructure upgrade should be one of the priorities for the new government. Furthermore, a plan to reduce corporate taxes would only be gradually implemented starting from 2028.Third, the manufacturing sector, a key sector of the German economy, continues to extend a sustained period of decline that drags on overall growth. Between 2000 and the peak in 2017, the industrial component of real GDP grew at an annual rate of 1.9%. This robust pace reversed dramatically afterwards, as the sector faced a successive series of negative shocks, including global trade tensions, a slowing world economy, the Covid-pandemic, the energy crisis due to the Russo-Ukrainian war, and the decline of the automotive industry. Since its peak in 2017, industrial production accumulates a contraction of 18% in Germany.This year, the new trade wars initiated by President Trump’s administration, together with the high levels of geopolitical uncertainty, will put further pressure on Germany’s export oriented industries, QNB noted.Although manufacturing should benefit from larger infrastructure investment and defence spending, the new administration will need to secure a more stable environment to offset major headwinds and support growth.“All in all, the government inherits a heavy legacy posing significant challenges to growth. The paradigm shift in fiscal policy will contribute to a much-needed upgrade in infrastructure and likely jumpstart a recovery, providing a boost to medium-term growth, but deeper reforms are also needed,” QNB added.

Bill Gates (pictured) has pledged to give away $200bn via his charitable foundation by 2045 and lashed out at Elon Musk, accusing the world’s richest man of “killing the world’s poorest children” through huge cuts to the US foreign aid budget.The 69-year-old billionaire co-founder of Microsoft said he was speeding up his plans to divest almost all of his fortune and would close the foundation on December 31, 2045, years earlier than previously planned.Gates published a chart showing his net worth plummeting 99% over the next 20 years in a blog post announcing the shift, describing a doubling of the pace of giving.“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” Gates wrote.Gates said that he believed the money would help achieve several of his goals, such as eradicating diseases like polio and malaria, ending preventable deaths among women and children, and reducing global poverty.His announcement follows moves by governments, including the Trump administration, to slash international aid budgets used to prevent deadly disease and famine.The US cuts have been overseen by Musk, who has publicly bragged about feeding the US Agency for International Development (USAID) “into the wood chipper” and his Department of Government Efficiency (DOGE).Around 80% of USAID programmes are set to be cut; the agency spent $44 billion worldwide in fiscal 2023.“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates told the Financial Times.Gates is listed as the 13th on the Forbes “real-time” billionaire list, with a net worth of $112.6bn. Musk is first with $383.2bn.In an interview with Reuters, Gates warned of a stark reversal to decades of progress in reducing mortality over the next four to six years due to the funding cuts by governments worldwide.“The number of deaths will start going up for the first time ... it’s going to be millions more deaths because of the resources,” Gates told Reuters.The Gates Foundation’s annual budget will reach $9bn by 2026 and around $10bn annually after that due to the accelerated spending.Gates has warned the White House that his foundation and other philanthropies cannot fill the gaps left by governments.“I think governments will come back to caring about children surviving” over the next 20-year period though, Gates said yesterday.Gates and Musk, the chief executive of Tesla and SpaceX, once agreed over the role of the wealthy in giving away money to help others, but have since clashed several times.Asked if he had appealed to Musk recently to change course, Gates said it was now up to Congress to decide on the future for US aid spending.“Gates is a huge liar,” Musk said in reply to a tweet on his X social media platform that featured an interview with Gates warning about US aid cuts.Musk’s spokespeople were not immediately available for comment.Gates said that despite his foundation’s deep pockets, progress would not be possible without government support.“There are too many urgent problems to solve for me to hold onto resources that could be used to help people,” Gates wrote in a post on his website. “It’s unclear whether the world’s richest countries will continue to stand up for its poorest people.”He praised the response to aid cuts in Africa, where some governments have reallocated budgets, but said that, as an example, polio would not be eradicated without US funding.Gates made the announcement on the foundation’s 25th anniversary.He set up the organisation with his then-wife Melinda French Gates in 2000, and they were later joined by billionaire investor Warren Buffett.The Bill and Melinda Gates Foundation, which had more than $71bn in assets at the end of 2023, has been credited with helping to reshape the world of global public health.It lists five offices throughout Africa, in addition to locations in the United States, Europe, China, India and the Middle East.Since inception, the foundation has given away $100bn, helping to save millions of lives and backing initiatives like the vaccine group Gavi and the Global Fund to Fight AIDS, Tuberculosis and Malaria.It will close after it spends around 99% of Gates’ personal fortune, he said.The founders originally expected the foundation to wrap up in the decades after their deaths.Gates, whose fortune is currently valued at around $108bn, expects the foundation to spend around $200bn by 2045, with the final figure dependent on markets and inflation.The foundation has faced criticism for its outsized power and influence in the field without the requisite accountability, including at the World Health Organisation (WHO).Gates himself was also subject to conspiracy theories, particularly during the coronavirus (Covid-19) pandemic.He has spoken to Trump several times in recent months, and twice since the president took office on January 20, he told Reuters yesterday, on the importance of continued investment in global health.“The world does have values. That’s what my parents taught me,” Gates told Reuters.

US President Donald Trump’s first 100 days in office stand out as one of the most volatile periods in American history – arguably the most turbulent in peacetime. And the consequences continue to reverberate far beyond the United States, as demonstrated by Canadian Prime Minister Mark Carney’s federal election victory following a campaign defined by sharp opposition to Trump’s agenda.For European countries and other long-standing US allies, the start of Trump’s second term has posed a direct challenge to the foundational pillars of the transatlantic alliance – security, defence, trade, and shared democratic values – all of which Trump views as negotiable.The European Union, long dependent on the US security umbrella, has found itself facing threats of trade wars and relentless attacks from Trump and his allies – most notably Vice-President J D Vance and the ubiquitous (though perhaps fading) tech billionaire Elon Musk. But instead of wallowing in despair over the fraying security alliance, these provocations have fostered an unexpected sense of purpose and unity in Europe.I call this the “Trump Boomerang Effect”. Paradoxically, Trump’s attempts to weaken America’s allies – whether Canada, Mexico, Australia, Denmark, or the EU – have energised them politically and encouraged them to become more self-reliant. Trump’s ham-fisted effort to extract concessions has instead reinforced their national resolve and solidarity.The fallout has also hurt the popularity of Trump-aligned cheerleaders worldwide, from Canadian Conservative Party leader Pierre Poilievre (who lost the parliamentary seat he had held for over 20 years) to Australia’s Peter Dutton, Greenland’s self-proclaimed Trump protégé Jorgen Boassen, and Hungarian Prime Minister Viktor Orbán.Perhaps most strikingly, Trump’s campaign to undermine Europe has prompted political leaders to display a surprising degree of courage and confront long-standing challenges. By trying to bully the EU, he has inadvertently empowered member states to achieve goals that once seemed unattainable through internal negotiations alone.As a result, Europe has emerged as a beacon of economic and political stability, attracting capital inflows and US-based researchers considering relocation. Meanwhile, far-right leaders across the continent – with the notable exception of Italian Prime Minister Giorgia Meloni – have seen their popularity decline due to their association with Trump, offsetting the boost that Trump’s re-election gave figures like Orbán.Vance’s insulting speech at the Munich Security Conference in February was one of the clearest manifestations of the Trump Boomerang Effect. In response, incoming German Chancellor Friedrich Merz broke with his country’s Atlanticist tradition to declare a second Zeitenwende (“epochal change”) – a paradigm shift aimed at meeting the demands of a rapidly changing global landscape.Merz’s new strategic doctrine, endorsed by French President Emmanuel Macron and others, aims to reduce Europe’s dependence on the US. It includes a historic shift in fiscal policy, exempting defence spending above 1% of GDP from Germany’s constitutional debt brake. This adjustment is set to unlock substantial new resources for both military expenditures and broader infrastructure investment.Trump’s actions have also rekindled the Franco-German alliance – historically, the EU’s engine of economic growth – which will reshape the bloc’s political trajectory. France and Germany now have a shared purpose: to achieve strategic independence from the US and bolster Europe’s geopolitical resilience against its unpredictable and untrustworthy president. This, in turn, has led to an unexpected rapprochement between the EU and the United Kingdom. While post-Brexit Britain remains formally free to align with either the US or the EU, Prime Minister Keir Starmer has clearly sided with Europe.These developments are paving the way for deeper European integration, with far-reaching implications for regional security and economic prosperity. One key initiative involves financing increased defence spending through joint borrowing – a strategy pioneered by the NextGenerationEU fund, the bloc’s Covid-19 recovery programme.Moreover, the push for deeper defence integration may soon extend into the broader economy. Over the past year, separate reports by former Italian Prime Ministers Mario Draghi and Enrico Letta have highlighted Europe’s lagging innovation and productivity compared to the US, calling for a stronger and more unified single market in financial services, energy, and digital technologies.At the core of the EU’s emerging strategy for reigniting economic dynamism is the creation of a Capital Markets Union, now rebranded as the Savings and Investment Union. The goal is to give firms easier access to pan-European financing and repatriate Europe’s substantial savings surplus – much of which currently flows into US markets – while maintaining financial stability. Trump’s disruptive economic policies are already accelerating this shift.The Trump Boomerang Effect appears to be driving a profound transformation, underpinned by renewed confidence in the European project. Europeans today are experiencing a degree of unity and common purpose not seen in decades. Even previously staunch Euroskeptics now speak in pan-European terms. Meloni, for example, has deferred to the EU in negotiating with Trump, recognising that the bloc is responsible for trade policy and also better positioned than any individual member state to confront the US effectively.It remains to be seen whether Europe’s political leaders will be able to capitalise on these favourable circumstances to achieve genuine EU independence and strategic autonomy. Given the scale of Trump’s assault on the continent, they at least appear to understand that their actions will be judged not only by their own constituents but by people across Europe. This new form of pan-European political accountability may end up making Europe – not America – great again. — Project SyndicateAlberto Alemanno, Professor of European Union Law at HEC Paris and visiting professor at the College of Europe in Bruges and Natolin, is Founder of The Good Lobby and one of the leading voices on the democratisation of the European Union. He was named Young Global Leader by the World Economic Forum, Social Innovation Thought Leader by the Schwab Foundation on Social Entrepreneurship, Ashoka fellow, European Young Leader by Friends of Europe, and one of the 40 most powerful influencers in the European Union by Politico Europe. He is the author of many books, including Lobbying for Change: Find Your Voice to Create a Better Society.

Northwestern University in Qatar (NU-Q) celebrated the graduation of the Class of 2025 at its 14th annual ceremony at the Qatar National Convention Centre.The event brought together university leadership, faculty, staff, families, and guests to honour the achievements of this year’s graduates, who now join a growing global network of NU-Q alumni.The Class of 2025 comprises 118 graduates, hailing from more than 18 countries. They have studied journalism, communication, and liberal arts while also contributing to award-winning student projects, groundbreaking research, and community initiatives in Qatar and beyond.In his address to the graduates, NU-Q dean and CEO Marwan M Kraidy, reflected on the symbolic power of light—or nūr—as a guiding principle for the journey ahead. “A flame is not only burning heat; it is also light and warmth,” said Kraidy. “As you leave here, take that habit of critical reflection with you. Use the flame to build a hearth. Start from a place of openness. Pause. Consider all sides. Then decide where your light should shine.”Encouraging graduates to lead with purpose and integrity, he reminded them that “one small flame can ignite a thousand candles.”In a unique, full-circle moment, HE Sheikha Najwa bint Abdulrahman al-Thani, undersecretary at the Ministry of Labour in Qatar and Class of 2015 alumna, returned to the stage as this year’s graduation speaker, a decade after delivering the student address at her own graduation.Reflecting on the transformation from student to professional, she said, “The Najwa that went to Northwestern feels like a different person from a different life.”Her speech balanced humour with heartfelt advice, encouraging the Class of 2025 to “trust the process, play the long game, and change the way you see yourself.”She also recounted her journey since graduating, from navigating postgraduate studies in Oxford to building a career shaped by rejection, resilience, and reinvention. “While many before me have carved out the space for those of us from the region, we remain underrepresented,” she said. “We have a value to bring to the table, a voice that cannot be substituted by those who write about us.”Drawing from Arabic philosophy, she urged the graduates to embrace wasilah — the means by which we pursue our goals — as the true measure of character.Joining Dean Kraidy and Sheikha Najwa on the stage, Class of 2025 Speaker Fairuz Yosef Issa addressed her fellow graduates, congratulating them on their achievements and reflecting on the spirit of resilience and perseverance that defined them.“We arrived here as individuals,” she noted, “but today, we leave as a collective, bonded by shared challenges, late-night deadlines, and the belief that stories matter.”A journalism student known for her advocacy and commitment to amplifying underrepresented voices, she reflected on the unique journey of her class: from entering university at the height of the global Covid-19 pandemic to graduating at a time of a rapidly shifting world.“Northwestern didn’t just teach us how to write headlines,” she said. “It taught us how to listen closely, speak honestly, and show up — especially when it’s uncomfortable.”Drawing on moments of uncertainty and growth, she reminded her classmates that “our stories are not just ours — they belong to the people we seek to serve.” She went on to urge her peers to carry forward the values of courage, curiosity, and compassion: “We may not know what’s next, but we know who we are — and that will always be enough.”Another highlight of this year’s ceremony was the attendance of a senior delegation from Northwestern University’s home campus, underscoring Northwestern’s support for the campus and community in Qatar. The group included members of the Northwestern University Board of Trustees, Peter J. Barris, chair of the Board, and Provost Kathleen Hagerty.Alongside dean Kraidy, they participated in the graduation processions and engaged with students, faculty, and staff during the visit.The ceremony concluded with graduates processing out beneath the Weber Arch, a powerful reversal of their symbolic entry into university life.With their degrees in hand and their next chapters just beginning, the Class of 2025 leaves NU-Q as alumni, poised to lead with impact after graduation and make a lasting impact across the globe, the statement added.