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Saturday, December 06, 2025 | Daily Newspaper published by GPPC Doha, Qatar.

Tag Results for "QNB" (45 articles)

QNB's CSR team has organised a creative programme for children titled ‘QNB Junior Entrepreneur’ in line with its initiatives to prepare a generation of new leaders capable of achieving a knowledge-based economy in implementation of the Qatar National Vision 2030 and the Sustainable Development Goals
Business

QNB organise 'Junior Entrepreneur' programme

QNB's Corporate Social Responsibility (CSR) team organised a creative programme for children titled ‘QNB Junior Entrepreneur’ in line with its initiatives to prepare a generation of new leaders capable of achieving a knowledge-based economy in implementation of the Qatar National Vision 2030 and the Sustainable Development Goals.It also reflects the bank’s CSR strategy aimed at promoting financial literacy within its Education and Youth pillar.The two-week initiative includes a packed program of activities, allowing young participants to unleash their entrepreneurship skills in a fun and stimulating environment, helping them turn their ideas into reality.Participants presented their project ideas in the form of simplified projects and products, along with a suggested marketing plan. On the conclusion of the activity, the bank’s CSR team awarded a ‘QNB Junior Entrepreneur’ certificate to all participants in recognition of their valuable contribution.The initiative supported younger generations to acquire skills of productivity, recycling, entrepreneurship, innovation, and creativity and become positive change agents in our communities.QNB Group is one of the leading financial institutions in the Middle East and Africa and one of the most valuable banking brands in the region.It operates in some 28 countries across Asia, Europe and Africa, providing tailored banking products and services, supported by a workforce of over 31,000 professionals leading banking excellence worldwide.

Gulf Times
Business

Argentina faces challenge of laying foundations for long-term growth

Argentine President Javier Milei faces the challenge of laying foundations for his country’s long-term growth, according to QNB. Argentine growth is expected to reach around 3.5% in 2026 and 2027 which, although an improvement relative to recent years, it is not yet an exceptional performance for an emerging economy. Milei recently made global headlines with an unexpected and decisive mid-term electoral victory, consolidating the country’s most disruptive political movement in decades. Coming onto the national stage just a few years ago as a libertarian outsider, famously wielding a chainsaw to symbolise his intent to slash public spending, his campaigns have centred on austerity, deregulation, and a rollback of state intervention in the economy. This marks a significant shift in a nation long dominated by interventionist and left-leaning Peronism. Combined with allies from the “Pro” party, his coalition may be able to gather sufficient additional support for deeper market-oriented reforms. Since taking office in December 2023, Milei gradually began to reverse the economic trends inherited from his predecessor, with the country on the edge of hyperinflation, as prices rocketed by nearly 300% a year. By end-2025, inflation has fallen to around 30%, still painfully high but a significant turnaround by stabilisation standards. Furthermore, his government delivered the country’s first budget surplus in more than a decade, a symbol of restored fiscal discipline that few thought possible without major political resistance. The fiscal adjustment has not been painless. After a sharp initial rebound from two years of recession in 2024, growth has stalled. Stagnant economic performance raised doubts about voter support before the recent mid-term elections. The political strain deepened when the Peronists secured victory in Buenos Aires in local elections in September this year, unsettling markets, with the currency depreciating and spreads on sovereign bonds rising sharply. **media[379002]** Amid the turmoil, Milei turned to his ally US President Donald Trump, and a $20bn currency-swap package helped stabilise the peso and calm capital outflows. Going forward, Javier Milei faces the decisive test of his presidency of turning early stabilisation into durable growth. The recent elections have strengthened his position, giving his coalition enough presence in Congress to pursue long-delayed structural reforms and privatisations. Whether Argentina can pivot from emergency adjustment to a phase of sustained economic growth remains an open question. In this article, we discuss what in our view will be the main challenges for President Milei’s administration going forward. First, although the administration is placing reforms at the top of its agenda, it stands to face significant resistance from vested interests. At the top of the list are two major overhauls: a reform aiming at making labour markets more dynamic, and a broad tax reform to improve an overly complex revenue system. With stricter employment-protection legislation than regional peers, including high costs of hiring and onerous dismissal rules, a chronically large shadow economy of close to 50% of total employment has become engrained, dragging productivity. The tax system features 155 levies, with just 10 of them accounting for 94% of revenues, reflecting an inefficient and burdensome obstacle for companies. As a result, the economy has stalled in the last 15 years, with real GDP growing at an average of less than 1% per year. Reform proposals are certain to face resistance from the Peronist opposition and labour unions, but their approval would represent a decisive step to break a stagnant economic growth trend. Second, Milei will need to regain confidence to attract investments consistent with strong growth and modernisation of the country. Over the last 20 years, aggregate investment has amounted to an average of close to 17.5% of GDP, which is far below the 25-30% associated with robust performance of high-growth emerging economies. To reach this target, the country would have to close a gap of more than $60bn per year in investments relative to recent levels. The government developed its flagship investment framework, known as “RIGI” (acronym in Spanish for Regime of Incentives for Large Investments), offering long-term tax, customs and foreign exchange incentives for up to 30 years, applying to large-scale projects of more than $200mn. Until recently, committed investments through this initiative have reached only a fraction of the investment gap, mainly in infrastructure, mining and oil and gas, reflecting the need for a more stable environment to attract larger investments. Third, the administration faces the test of securing macroeconomic stability and bringing inflation fully under control. Although the aggressive “chainsaw” phase may have passed, maintaining fiscal discipline and resisting political pressure for spending will be crucial to sustain recent gains, regain monetary stability and prevent a relapse into chronic deficits. The peso has depreciated over 50% so far this year, reflecting feeble confidence in the currency. Argentina’s sovereign bonds continue to trade at spreads of over six percentage points above US Treasuries, underscoring the extraordinary risk premium demanded by investors. “Restoring macroeconomic stability will require consistent policies to rebuild credibility,” QNB added.

Gulf Times
Business

QNB expects Argentina's economy to face multiple challenges in coming period

Qatar National Bank (QNB) expects Argentina's economy to face multiple challenges in the coming period, despite projected growth rates of 3.5 percent in both 2026 and 2027.In its Weekly Economic Commentary, QNB said, "Argentine President Javier Milei recently made global headlines with an unexpected and decisive mid-term electoral victory, consolidating the country's most disruptive political movement in decades. Coming onto the national stage just a few years ago as a libertarian outsider, famously wielding a chainsaw to symbolize his intent to slash public spending, his campaigns have centered on austerity, deregulation, and a rollback of state intervention in the economy. This marks a significant shift in a nation long dominated by interventionist and left-leaning Peronism. Combined with allies from the "Pro" party, his coalition may be able to gather sufficient additional support for deeper market-oriented reforms."Since taking office in December 2023, Milei gradually began to reverse the economic trends inherited from his predecessor, with the country on the edge of hyperinflation, as prices rocketed by nearly 300 percent a year. By end-2025, inflation has fallen to around 30 percent, still painfully high but a significant turnaround by stabilization standards. Furthermore, his government delivered the country's first budget surplus in more than a decade, a symbol of restored fiscal discipline that few thought possible without major political resistance.""The fiscal adjustment has not been painless. After a sharp initial rebound from two years of recession in 2024, growth has stalled. Stagnant economic performance raised doubts about voter support before the recent mid-term elections. The political strain deepened when the Peronists secured victory in Buenos Aires in local elections in September this year, unsettling markets, with the currency depreciating and spreads on sovereign bonds rising sharply. Amid the turmoil, Milei turned to his ally US President Donald Trump, and a USD 20 Bn currency-swap package helped stabilize the peso and calm capital outflows.""Going forward, Javier Milei faces the decisive test of his presidency of turning early stabilization into durable growth. The recent elections have strengthened his position, giving his coalition enough presence in Congress to pursue long-delayed structural reforms and privatizations. Whether Argentina can pivot from emergency adjustment to a phase of sustained economic growth remains an open question. In this article, we discuss what in our view will be the main challenges for President Milei's administration going forward."The bank explained, "First, although the administration is placing reforms at the top of its agenda, it stands to face significant resistance from vested interests. At the top of the list are two major overhauls: a reform aiming at making labour markets more dynamic, and a broad tax reform to improve an overly complex revenue system. With stricter employment-protection legislation than regional peers, including high costs of hiring and onerous dismissal rules, a chronically large shadow economy of close to 50 percent of total employment has become engrained, dragging productivity. The tax system features 155 levies, with just 10 of them accounting for 94 percent of revenues, reflecting an inefficient and burdensome obstacle for companies. As a result, the economy has stalled in the last 15 years, with real GDP growing at an average of less than 1 percent per year. Reform proposals are certain to face resistance from the Peronist opposition and labour unions, but their approval would represent a decisive step to break a stagnant economic growth trend.""Second, Milei will need to regain confidence to attract investments consistent with strong growth and modernization of the country. Over the last 20 years, aggregate investment has amounted to an average of close to 17.5 percent of GDP, which is far below the 25-30 percent associated with robust performance of high-growth emerging economies. To reach this target, the country would have to close a gap of more than USD 60 Bn per year in investments relative to recent levels. The government developed its flagship investment framework, known as "RIGI" (acronym in Spanish for Regime of Incentives for Large Investments), offering long-term tax, customs and foreign exchange incentives for up to 30 years, applying to large-scale projects of more than USD 200 Mn. Until recently, committed investments through this initiative have reached only a fraction of the investment gap, mainly in infrastructure, mining and oil and gas, reflecting the need for a more stable environment to attract larger investments.""Third, the administration faces the test of securing macroeconomic stability and bringing inflation fully under control. Although the aggressive "chainsaw" phase may have passed, maintaining fiscal discipline and resisting political pressure for spending will be crucial to sustain recent gains, regain monetary stability and prevent a relapse into chronic deficits. The peso has depreciated over 50 percent so far this year, reflecting feeble confidence in the currency. Argentina's sovereign bonds continue to trade at spreads of over 6 percentage points above US Treasuries, underscoring the extraordinary risk premium demanded by investors. Restoring macroeconomic stability will require consistent policies to rebuild credibility."QNB concluded, "All in all, President Milei faces significant challenges. Growth is expected to reach around 3.5 percent in 2026 and 2027 which, although an improvement relative to recent years, it is not yet an exceptional performance for an emerging economy. More importantly, President Javier Milei faces the challenge of laying the foundations for long-term growth."

The agreement was signed by Qatar Chamber acting general manager Ali Bu Sherbak al-Mansouri and QNB Group executive vice-president of SME Banking Ismail Mohamed al-Emadi, in the presence of Federation of GCC Chambers (FGCCC) secretary-general Saleh bin Hamad al-Sharqi and Qatar Chamber board member Ibtihaj al-Ahmadani, who is also chairperson of the Qatari Businesswomen Forum.
Business

QNB Group supports Gulf Businesswomen Forum as strategic partner

QNB Group and the Qatar Chamber have signed a sponsorship agreement for the Seventh Gulf Businesswomen Forum, under which QNB will sponsor the event as a Strategic Partner.The agreement was signed by Qatar Chamber acting general manager Ali Bu Sherbak al-Mansouri and QNB Group executive vice-president of SME Banking Ismail Mohamed al-Emadi, in the presence of Federation of GCC Chambers (FGCCC) secretary-general Saleh bin Hamad al-Sharqi and Qatar Chamber board member Ibtihaj al-Ahmadani, who is also chairperson of the Qatari Businesswomen Forum.Organised by the FGCCC, in co-operation with the Qatar Chamber and with the support of the General Secretariat of the Gulf Co-operation Council, the forum will be held under the slogan ‘Entrepreneurship and Investment Sustainability’ on November 12-13 at the Mandarin Oriental Hotel in Msheireb, Doha.The forum aims to strengthen entrepreneurship and promote sustainable investment among businesswomen in GCC countries. It will highlight mechanisms for supporting women’s participation in sustainable investment and explore ways to transition from traditional business models to more innovative, digital, and knowledge-driven approaches, in line with the GCC’s collective vision for a knowledge-based economy.Al-Mansouri said, “We highly value QNB Group’ s sponsorship of the forum, which reflects the bank’s steadfast commitment to supporting Qatari and Gulf women, enhancing their participation in driving economic transformation, and representing the private sector in regional and international arenas.”He emphasised that the partnership with QNB represents a significant contribution to the success of the forum, reinforcing its position as a leading Gulf platform for dialogue and networking among businesswomen, as well as a venue for exchanging expertise, exploring investment opportunities, and fostering co-operation on future projects.QNB Group’s sponsorship represents a strategic platform for the economic empowerment of female business owners in GCC countries, reflecting its commitment to supporting their role in accelerating the transition towards a knowledge economy in the region.The sponsorship also supports the ongoing partnership with Qatar Chamber, reflecting joint efforts to promote women’s business entrepreneurship to more innovative and digital-based approaches, in line with Qatar National Vision 2030 and the sustainable development strategies of GCC countries.

The partnership enables QNB to integrate TransferMate’s award-winning technology directly into its platform, providing corporate clients with access to a broader network of international multicurrency collections and local accounts capabilities.
Business

QNB partners with TransferMate to expand global B2B multicurrency collections capabilities for corporate customers

QNB Group has announced a strategic partnership with TransferMate, the world’s leading provider of embedded B2B payments infrastructure as a service, to expand global receivables and local account solutions for QNB corporate customers worldwide. The partnership enables QNB, which is the largest financial institution in the Middle East and Africa, to integrate TransferMate’s award-winning technology directly into its platform, providing corporate clients with access to a broader network of international multicurrency collections and local accounts capabilities. Through this collaboration, the bank’s customers will now be able to invoice and receive cross-border payments in multiple currencies, benefiting from reduced transaction times and fees, improved cash flow management and enhanced visibility and reconciliation. QNB Group constantly strives to provide its customers with new and innovative solutions to support their business needs. This platform enables them to receive international payments in multiple currencies seamlessly, which is considered is a game-changer for its clients. This marks TransferMate’s first banking partnership in the Middle East, capitalising on the strategic alliances the fintech has established with major financial institutions and global notable brands. The partnership marks a major milestone in QNB’s ongoing digital transformation journey and reinforces its position as a leader in delivering future-ready banking services.

Gulf Times
Business

QNB expects further upside for gold over the medium and long term

Qatar National Bank (QNB) expects further upside for gold over the medium and long term, despite the sharp rally in recent months and the significant risks of short-term corrections.In its Weekly Economic Commentary, QNB stated that consensus among leading research houses suggests gold prices are likely to remain well supported at around USD 4,000 per troy ounce, with an estimated upside of 10–15% over the next twelve months.Gold has once again proven its value in providing robust returns during periods of global uncertainty. In fact, it has been one of the standout global asset classes in recent years, consistently demonstrating remarkable resilience. Since the post-pandemic normalization in 2022, gold prices have gained around 105%, significantly outperforming most global benchmarks, including equities, bonds, and commodities.This broad-based outperformance underscores gold’s unique position as both a store of value and a macro hedge in an era defined by three converging structural forces: strong global growth in money supply, geopolitical fragmentation, and central bank reserve diversification.Since the onset of the pandemic, an unprecedented expansion of fiscal and monetary policy has undermined confidence in the stability of currencies in major advanced economies. At the same time, a series of geopolitical shocks — from the U.S.-China strategic rivalry to conflicts in Eastern Europe — have fueled demand for safe and jurisdictionally neutral assets. Furthermore, the steady accumulation of gold by emerging market central banks, often as a deliberate strategy to reduce dependency on established reserve currencies, has added a new layer of sustained, price-insensitive demand.Gold appears “fairly” priced, if not undervalued, against USD money supply (M2). Since the Bretton Woods agreements of 1944, which established the post-Second World War economic order, the USD long-term price of gold has tended to move directionally in line with M2 growth. Much of the recent upward movement in gold prices could therefore be seen as a catch-up following a long period of undervaluation since 2010, combined with continued strong USD issuance. Current prices would still need to rise by approximately 34% to reach QNB’s modeled fair value. Importantly, M2 has been accelerating in recent years, growing at a compound annual rate of 7.5%. In other words, there are no clear signs of overvaluation, and one of the main drivers of prices — USD issuance — continues to expand rapidly.Positioning by both central banks and private investors in gold also suggests further potential for price appreciation. Geopolitical fragmentation continues to amplify gold’s appeal as a jurisdictionally neutral asset outside the reach of financial “weaponization.”According to the World Gold Council, following the outbreak of the Russia-Ukraine conflict in 2022, central banks’ additional demand for gold more than doubled — from around 450 tons per year to over 1,000 tons per year. Despite this increase in official demand, there remains considerable room for a longer-term accumulation trend. While large advanced economies tend to hold around 25% of their foreign exchange (FX) reserves in gold, major emerging-market central banks hold less than 12% of their FX reserves in the metal.

A worker displays a one-kilogram gold bullion bar. (AFP)
Business

Gold price in the Qatari market declined by 4.39 percent this week

The price of gold in the Qatari market declined by 4.39 percent over the past week, reaching USD 3,931.97000 per ounce, according to data released by Qatar National Bank (QNB). QNB data showed that the price of gold decreased from USD 4,112.68700 recorded last Sunday.As for other precious metals, silver fell by 2.28 percent on a weekly basis to reach USD 47.52000 per ounce, down from USD 48.63250 at the start of the week. Platinum fell by 1.18 percent, reaching USD 1,594.60000 per ounce, compared to USD 1613.80040 at the beginning of the week.

Gulf Times
Business

QNB underscores importance of rare earths to global economy amid digital revolution

Qatar National Bank (QNB) said that rare earths were key to the electronics and digital revolution and are becoming even more important as new industries and technologies emerge. In its weekly economic commentary, the QNB added that AI, semiconductors, defense and aerospace, as well as energy transition are becoming some of the most strategic sectors for the 21st century and should require massive growth in rare earth supply. This further strengthens China's dominant position in these supply chains and creates bottlenecks as well as vulnerabilities to the US and other competitors. US-China strategic competition is set to be one of the major drivers of the global economy in the years to come."In recent weeks, disputes over export controls of rare earth-related supply chains almost led to a major escalation of US-China trade conflicts," it said.Despite their name, rare earth elements are not particularly rare in the Earth's crust. The challenge lies in their extraction and refining, which are technologically complex, environmentally sensitive, and capital intensive.The group includes 17 elements such as neodymium, dysprosium, terbium, cerium, lanthanum, and yttrium, each with unique magnetic, optical, or catalytic properties that make them indispensable for modern industry. In addition, several related critical minerals, including gallium, germanium, indium, cobalt, and lithium, play similar roles across supply chains.Together, the importance of these materials can be seen most clearly in three of the most important, rapidly expanding sectors in the world. In the field of AI and semiconductors, rare earths are integral to the machinery and processes that make advanced chips possible. Cerium oxide is used to polish silicon wafers with nanometric precision, yttrium is a core component of plasma etching systems, and neodymium-based magnets power the high-efficiency cooling and motor systems used in AI data centers. Meanwhile, related elements such as gallium and germanium are used directly in high-performance chips and optical communications.In defense and aerospace, other rare earths are key inputs for jet engines, radar systems, and precision-guided weapons. Finally, in the energy transition, rare earths like neodymium and paraseodyum are essential for the powerful magnets that make EVs and wind turbines operate efficiently, while lanthanum and cerium play crucial roles in catalytic converters and energy storage technologies.The exponential growth in demand has transformed rare earths and critical minerals from industrial commodities into strategic assets. This growing importance has also created new geopolitical frictions, largely because production and processing capacity are highly concentrated in a few countries, particularly China.In a now-famous remark, former Chinese leader Deng Xiaoping observed in 1987 that "The Middle East has oil; China has rare earths."China invested heavily in geological surveys, mining, and refining technology. By the early 2000s, China had become the dominant player in nearly every stage of the supply chain. Today, it accounts for around 65 percent of global mining output but over 85 percent of global refining and processing capacity. It also produces the majority of the permanent magnets and other high-value downstream products that depend on these materials. The country has also invested in expanding its footprint across the industry overseas, controlling significant assets, resources and reserves even outside China.In 2021, Beijing consolidated several state-owned companies into the China Rare Earth Group, strengthening its control and coordination over the sector. More recently, China has introduced export controls for national security reasons. Officials have emphasized that these controls are not outright bans but measures to ensure "responsible and secure" trade in dual-use goods. Nonetheless, these steps have reinforced perceptions that China views control over critical minerals as an important element of its broader geopolitical toolkit.In response, other countries have moved to diversify supply chains and reduce strategic dependence. The US has classified rare earths as critical to national security and is investing in domestic mining and processing through the Defense Production Act. However, these efforts will take years to bear fruit.

Gulf Times
Business

QNB, QACPA Sign MoU to strengthen collaboration on accounting, auditing and governance

QNB Group signed a Memorandum of Understanding (MoU) with the Qatar Association of Certified Public Accountants (QACPA) to establish a collaborative framework aimed at advancing professional knowledge and skills of its employees in Qatar and across its international network. Signed by Abdullah Nasser Al Khalifa, Senior Executive Vice President - Group Human Capital at QNB Group, and Dr. Hashim Al-Sayed, Chairman of QACPA, said the agreement seeks to promote cooperation in accounting, auditing, governance, anti-money laundering, and compliance. The agreement reflects both institutions' commitment to fostering knowledge exchange, innovation, and capacity-building to empower the national workforce in line with Qatar National Vision 2030 and the Third National Development Strategy. It also comes within the bank's strategy to maintain high standards of integrity through a corporate governance framework that promotes transparency, accountability, and ethical conduct, supported by strong internal controls and compliance with international best practices. Further strengthening bilateral collaboration, the MoU includes provisions for certified professional training programs and workshops designed to equip QNB employees with knowledge and skills in accounting, finance, and business management, to ensure compliance with regulatory requirements while promoting a culture of responsible business. Through this MoU, QNB and QACPA will engage in joint initiatives such as academic research and competitions to support innovation in banking, professional development and knowledge-sharing.

QNB is the first Qatar-based bank to go live on Kinexys Digital Payments, the scalable blockchain deposit account network from JP Morgan, one of the world’s largest USD clearing banks, for all no-deduct outbound USD clearing and settlement
Business

QNB adopts Kinexys by JP Morgan’s blockchain network for USD clearing

QNB Group announced the “successful adoption” of JP Morgan’s Kinexys Digital Payments network for USD clearing, marking a major milestone in QNB’s cross-border payments modernisation journey. QNB is the first Qatar-based bank to go live on Kinexys Digital Payments, the scalable blockchain deposit account network from JP Morgan, one of the world’s largest USD clearing banks , for all no-deduct outbound USD clearing and settlement. Through Kinexys Digital Payments, QNB can process USD payments with faster settlement times, delivering improved speed, reliability, and predictability of USD flows. The blockchain-based payment rails are designed to be no-deduct and aim to ensure full preservation of payment amount until reaching the final beneficiary. The Kinexys Digital Payments network reaches the global and diverse JP Morgan USD clearing client base, progressively enabled for direct payouts, which enables QNB to deliver a next-generation cross-border payment experience. Akshika Gupta, Global Head of Client Solutions for Kinexys Digital Payments, Kinexys by JP Morgan, said: “QNB’s movement of all no-deduct USD clearing to the Kinexys Digital Payments network is a significant moment, highlighting its commitment to forward looking innovation for itself and its clients. QNB’s adoption of Kinexys Digital Payments continues to grow, and we are delighted to continue our collaboration in the region.” This collaboration aligns with QNB’s long-term objective of enhancing global payments capabilities and clearing efficiency, reducing reliance on multi-leg settlement paths. It also reinforces the bank’s commitment to improve client satisfaction with faster and more reliable settlements through its participation in a modern, blockchain-based correspondent banking ecosystem. QNB said it is “committed to providing its clients with seamless and future-ready” payment solutions. The adoption of JP Morgan’s Kinexys Digital Payments network represents a major step in QNB’s journey to modernize cross-border payments. By leveraging blockchain technology, QNB is enhancing the speed, transparency, and reliability of USD settlements for its clients. This milestone reflects its commitment to innovation and to delivering a seamless payment experience for customers worldwide. QNB Group is one of the leading financial institutions in the Middle East and Africa and is ranked as the most valuable banking brand in the MEA region. Present in some 28 countries across Asia, Europe, and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals dedicated to driving banking excellence, worldwide.

Gulf Times
Business

QNB expects reacceleration of the US economy in 2025

The Qatar National Bank (QNB) predicted that the US economy could grow an above consensus 2% this year, on the back of strong consumption and private investment. In its Economic Commentary, the QNB said: "At the beginning of the year, the outlook on the US economy pointed to a gentle slowdown in growth. But an agenda of disruptive policy change by the new administration began to take place, and the climate of optimism and positive market sentiment started to shift. Economic indicators have stabilized and, more surprisingly, some gauges even point to an acceleration in activity. The "GDP Now" is an informative real-time, model-based "nowcast" produced by the Federal Reserve Bank of Atlanta, which delivers a running estimate of real GDP growth in the current quarter for the US economy. It leverages a large set of high-frequency indicators from key economic sectors, and is therefore a representative summary of economic conditions. The latest available estimate points to an annualized growth rate of 3.8% in Q3-2025, a significant re-acceleration in activity relative to the 0.6% contraction in Q1-2025. In our view, the consensus growth forecast of 1.7% for this year is still lagging with respect to the latest information available and is therefore relatively pessimistic. In this article, we discuss the key components of GDP that are contributing to an acceleration of economic activity and support a relatively better outlook. First, household consumption is providing a strong boost to US real GDP growth, underpinned by the combination of resilient, even if deteriorating, employment, record household net wealth, and adequate access to credit. Consumption represents close to 70% of GDP and is therefore a major driver of economic growth. Retail sales adjusted for inflation, a useful gauge of consumption strength, accelerated to 1.7% year-over-year according to the latest prints, significantly above the average of -0.3% from last year. Even as job gains have slowed, the unemployment rate at 4.3% remains in the range of balanced employment, and earnings have steadily grown in real terms, outpacing inflation. This helps to keep aggregate household incomes strong. At the same time, a positive wealth effect from rising stock markets has bolstered spending capacity. Directly and indirectly held equity represents 35% of household net wealth, and 14% year-to-date growth in major indices has a significant impact on wealth, providing a positive effect that bolsters consumption sentiment. Borrowing channels also remain dynamic, with total household credit growing USD 352 Bn in the first two quarters and continuing to support expenditures this quarter. Together, these factors are contributing to maintaining household consumption as the key driver of real GDP momentum, accounting for 2/3 of real GDP growth expected for this quarter. Second, business investment is showing a strong performance, on the back of favourable financial conditions, fiscal incentives, and technology and AI-related capital expenditures. The latest data releases have shown accelerating growth in "core capital goods orders," a timely and representative signal of private-sector capital expenditures ("capex"). This measure tracks non-defence capital goods and excludes aircraft orders, which are typically sensitive to irregular procurements, and are therefore noisier. In recent months, this indicator has been growing at a rate of close to 4% in annual terms, a remarkable acceleration from the 0.9% average contraction last year. Several factors are contributing to investment growth. Demand for equipment and technology is surging, as firms continue to invest to support productivity and AI-related expansion. Policy incentives, such as the CHIPS Act, the Inflation Reduction Act, and infrastructure programs are spurring construction of semiconductor facilities, factories, and clean energy projects. Additionally, healthy corporate profits and high expected returns on invested capital give businesses the means and the incentives to move forward with long-term projects. Taken together, these investment trends are contributing to an acceleration of economic growth. All in all, a reacceleration of the US economy is taking place on the back of strong momentum in consumption and private investment. In our view, the US economy could grow an above consensus 2% this year, on the back of strong consumption and private investment."

(FILES) Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. Gold's relentless rise reached another milestone on October 8, 2025 as the precious metal hit $4,002.95 an ounce for the first time. (Photo by DAVID GRAY / AFP)
Business

Gold price in the Qatari market increases by 3.57% this Week

The price of gold in the Qatari market increased by 3.57% this week to stand at $4,026.83000 per ounce on Thursday. Qatar National Bank (QNB) data showed that the price of gold increased from $3,887.67940 recorded last Sunday. As for other precious metals, silver rose by 1.88% on a weekly basis to reach $48.93000 per ounce compared to $48.02250 at the start of the week. Platinum rose by 3.40% to $1,667.06150 per ounce compared to 1,612.10000 at the beginning of the week.