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QNB said in its weekly commentary that it expects the US Federal Reserve to continue its monetary easing cycle at a moderate pace by cutting the federal funds rate two more times to 3.5 percent. The bank said that declining employment levels and a drop in capacity utilization below trend justify continued reductions in key interest rates, while the limited likelihood of a sharp slowdown in growth creates an appropriate lower bound for interest rates near their neutral levels. QNB noted that the Federal Reserve has returned to the forefront of the global macroeconomic scene after a period dominated by US-led trade negotiations and debates over fiscal policies. It explained that uncertainty surrounding economic policies has eased significantly thanks to the conclusion of several trade agreements and the adoption by President Donald Trump's administration of a less contentious fiscal framework. Uncertainty related to inflation has also receded, after it became clear that the impact of higher tariffs on prices was smaller than expected. The report stated that monetary policy has become a point of contention. The Federal Open Market Committee (FOMC) of the Federal Reserve cut interest rates by an additional 25 basis points late last month, continuing the easing cycle that began in September 2024 and resumed this year after an eight-month pause. However, a clear division has emerged among committee members. The report observed a widening gap between market expectations and policymakers' positions regarding the future direction of interest rates. While markets expect the easing cycle to continue, Federal Reserve Chair Jerome Powell said that additional rate cuts remain uncertain. The bank argued that under these expectations, there is room for two more 25-basis-point rate cuts, likely with the first in December and the second in early 2026. The report based this outlook on two main points. The first is that there remains sufficient room for two additional rate cuts because current interest rates are still excessively tight relative to existing macroeconomic conditions in the United States. It pointed out that the current interest rate of 4 percent remains restrictive and stands roughly 50 basis points above the neutral level, while data on capacity utilization, the labor market, and industrial activity show that the U.S. economy is operating below its potential. The second point, according to the report, is that there is room for further monetary easing. It noted, however, that the deeper rate cuts supported by more dovish Federal Reserve members, and anticipated by markets, appear overly aggressive. In conclusion, QNB's weekly report emphasized that the US economy has largely adjusted, slowing from growth rates near 3 percent in 2023 and 2024 to about 2 percent this year, without signs of a sharp downturn or possible recession. It highlighted the strength of investment driven by record capital spending from technology companies seeking to lead the artificial-intelligence wave, while consumption continues its gradual slowdown and US households benefit from their strongest net financial position in decades.

The Ministry of Culture organised a dialogue session Wednesday evening entitled "Opportunities of the Creative Economy in a Changing World," on the sidelines of the "Art and Design Village" festival at Darb Al Saai.The session aimed to highlight the pivotal role of the creative economy as an engine for sustainable development and to explore its new horizons in light of rapid global transformations, particularly in the fields of technology and digital transformation.The session was presented by media personality Iman al-Kaabi.The speakers discussed the legal and institutional frameworks necessary for the flourishing of creative industries and reviewed successful models in this field.Hamid Ibrahim, head of Creative Operations at Kogali, emphasised that the partnership with Disney+ to produce the series "I wago" represents a pivotal step. He explained that the most significant advantage lies in leveraging the immense global reach of the Disney brand, renowned for its rich heritage and extensive experience in animation.Ibrahim summarised the philosophy of working in the creative economy with the phrase, "Thinking in terms of the entire ecosystem". This perspective goes beyond simply creating a character for a film; it encompasses adapting that character into a series or designing them for products like lunchboxes, confirming that the industry is growing and expanding in this way.Abdulaziz al-Kubaisi, owner and founder of Lusail Art Production Studios, highlighted the importance of integrating creativity with the economy, calling for the transformation of studios and creative activities into "sustainable economic platforms in the face of global competition."Al-Kubaisi explained that the creative economy is the art of transforming creativity, activity, and hobbies into income-generating economic value, noting that this concept represents the turning point from pursuing a hobby to establishing a business.Qatar-based filmmaker Obada Jarbi emphasised that documentaries and feature films represent a long-term investment tool and a form of soft power capable of building a creative economy that reflects local identity and culture. He stressed that this type of content can replace traditional public relations and advertising campaigns.Jarbi discussed the pivotal role of cinema as a "long-term investment" for the country, adding that many major global cities owe their popularity primarily to what has been portrayed in films, thus reducing the need for massive advertising campaigns.Qatari entrepreneur Nada Khamis Mohammed al-Sulaiti, founder of Alama Jewellery, revealed the motivation behind launching her brand in 2011. She explained that growing up in a home deeply rooted in heritage inspired her to be the one to tell Qatar's story, emphasising that Qatar is "the most deserving of telling our identity and stories" to the world.Qatari entrepreneur Abdullah al-Mana called on young people and the community to adopt the concepts of the creative economy as a fundamental pillar for diversifying income sources, stressing that this economy opens "new and numerous horizons in industries" away from total dependence on the traditional economy.

The Working Group of the Qatari-Saudi Committee on Economy, Trade and Industry, part of the Qatari-Saudi Co-ordination Council, held their meeting recently in Riyadh, Saudi Arabia.The meeting was co-chaired by Mohammed bin Hassan al-Malki, Undersecretary of the Ministry of Commerce and Industry of Qatar, and Rakan bin Waddah Tarabzoni, Undersecretary of the Ministry of Economy and Planning for International Economic Affairs of Saudi Arabia. Senior officials from both countries also participated.During the meeting, the two sides reviewed the strong relations between Qatar and Saudi Arabia and discussed ways to enhance economic, trade, and industrial co-operation to serve shared interests.Discussions focused on mechanisms to facilitate import and export procedures, promote bilateral trade, and strengthen co-operation in key sectors.The parties reviewed progress on joint initiatives, addressed existing challenges, and explored potential solutions.In addition, the committee examined its strategic objectives and pathways to deepen economic integration and bilateral co-ordination, in line with the national visions of both countries.

His Excellency Minister of State for Energy Affairs Saad bin Sherida Al Kaabi met on Tuesday in Tokyo with the Minister of Economy, Trade and Industry of Japan Akazawa Ryosei.During the meeting, they discussed bilateral and cooperation relations between the two countries in the energy field, and ways to enhance them.HE Minister of State for Energy Affairs also met with senior Japanese energy industry leaders, including Chairman of the Board of Maruben, Masumi Kakinoki, and Managing Executive Officer of Tohoku Electric, Kaoru Hijikata.During the meetings, discussions focused on existing and future cooperation and further strengthening bilateral relations in the energy sector.

After just six months in power, German Chancellor Friedrich Merz's coalition is facing infighting, policy deadlock and sliding poll ratings, undermining its efforts to take on the rising far right.It marks a difficult start for the conservative politician who ran on bold pledges of reviving the stagnant economy, overhauling the threadbare military and toughening immigration policy after years of drift under the previous government.In German post-war politics, "there has never been such widespread dissatisfaction with a government in such a short period of time", Manfred Guellner, director of the Forsa polling institute, told AFP.For Germans who hoped for more decisive leadership after the last government's collapse, "their expectations have been dashed", he said.The winners of February's general election, Merz's centre-right CDU/CSU bloc now find themselves neck-and-neck in the polls with the far-right Alternative for Germany (AfD), which came second in the poll and is now the largest opposition party.Merz's junior coalition partners, the centre-left Social Democrats (SPD) of ex-chancellor Olaf Scholz, have seen their popularity slide further after a terrible election performance, and now sit around 13-15% in polls."It is clear that many citizens are dissatisfied or disappointed with the government's work so far," Roderich Kiesewetter, an MP from Merz's Christian Democrats (CDU), told AFP.The government appeared to be "focusing only on migration instead of the economy, education and security", he said.There have been increasing tensions between the ruling parties in Berlin since Merz failed to be elected chancellor in the first round of voting in parliament in early May, a first in post-war Germany.In July they were unable to agree on the appointment of three judges to the constitutional court, with the conservatives considering the Social Democrats' candidate too left-wing.A group of young conservative MPs revolted over a pension reform proposal, which had already been adopted by the cabinet, arguing that it burdened future generations.Meanwhile, an overhaul of the country's military service system, which was supposed to demonstrate Germany's leadership in Nato in the face of the Russian threat, has turned into a stalemate over whether to bring back a limited form of conscription.Now Foreign Minister Johann Wadephul, a close confidant of Merz, is under fire from conservatives for expressing reservations about the possibility of sending back Syrian refugees living in Germany.With their support so low after the February polls, the CDU/CSU and the SPD "are finding it more difficult to reach compromises," Aiko Wagner, a political scientist at the Free University of Berlin, told AFP. Both sides fear they "will become even weaker among their own" supporters if they do, said Wagner.The coalition's own struggles are making it more difficult for Merz to counter the rise of the AfD, which he declared as his party's "main opponent" ahead of five regional elections scheduled for 2026.Merz has used increasingly tough rhetoric on immigration to counter the AfD, such as a controversial statement in October about the problems of the "German urban cityscape" — seen as criticism of the impact of migrants on cities.But this offended many Social Democrats, as well as some moderates among his conservative bloc.Guellner argued that Merz made "a fatal mistake" by focusing so much on migration when the struggling economy was the main concern of many voters.The AfD meanwhile sees Merz's struggles as an opportunity.A clear majority of Germans backed conservative or right-wing parties in the election, AfD MP Sebastian Muenzenmaier told AFP.But Merz's coalition with the centre-left appears incapable of delivering on his promises, he said."No one sees this government staying in power for four years," said Muenzenmaier, who predicted that the AfD would have strong showings in next years' state elections."Many believe that at the end of next year, after the elections, the situation will become very difficult for the government in Berlin and that it will collapse".The prospect of another coalition crisis and early elections did not sit well with Stephanie and Bernd Nebel, two visitors to Berlin from Munich who spoke with AFP outside of the Reichstag, the seat of Germany's parliament.The biggest problem with the coalition so far, Bernd Nebel said, was that Merz's government "made it their mission to boost the economic recovery a little — and absolutely nothing has happened in that regard".

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.

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.

Investors will seek clues about the health of the US economy in the coming week following worrisome labour market reports and technology-led turbulence that has knocked the stock market off record highs. The S&P 500 ended on Friday with a weekly decline after three straight weeks of gains. The benchmark index was last down about 2.4% from its all-time closing peak on October 28 even after a generally strong third-quarter earnings season for large US companies. This week, concerns about expensive equity valuations, especially for high-flying stocks linked to enthusiasm over artificial intelligence, were exacerbated by tepid jobs data, including a report that showed surging layoff announcements from US employers.Alternative data released by private sector bodies have become more important for investors because the US federal shutdown that began on October 1 has limited government releases."We're not getting a lot of economic data," said Anthony Saglimbene, chief market strategist at Ameriprise Financial. "At current valuations and the kind of gains that we've seen... investors are just starting to be a little bit more cautious. I don't think that is bad, but it is coming at a time where there is growing uncertainty around the pace of growth in the economy."Investors were gauging whether the pullback in equities represented profit-taking and a healthy reset after an extended climb, or the start of a more severe slide. Fears that stocks are in an "AI bubble" have kept Wall Street on edge, with the benchmark S&P 500 up 14% year-to-date and 35% since its low for the year in April.The S&P 500 technology sector, which has led the bull market that began more than three years ago, has been hit harder in this latest drawdown, falling about 6% since last week. A series of reports on Thursday suggested deteriorating US labour market conditions. Data from workforce analytics company Revelio Labs showed 9,100 jobs were lost in October, while US employers' planned layoffs soared to over 153,000 last month, global outplacement firm Challenger, Gray & Christmas said. The Chicago Fed estimated that the US jobless rate likely edged up in October to the highest in four years.That data came a day after the ADP National Employment Report showed private employment rebounded by 42,000 jobs in October.The Challenger layoffs report, combined with the lack of government jobs data, "raises a red flag in terms of whether or not the labour market has really stabilised," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.Next week would have been a busy week of economic data, with government reports due on consumer and producer prices and retail sales. Those releases are poised to be delayed due to the shutdown. Investors will instead seek insight on the economy from traditionally more secondary reports, including the small business optimism index due to be released on Tuesday by the National Federation of Independent Business.As investors weighed the economic impact of the shutdown, the US transportation secretary warned on Friday the government could force airlines to cut up to 20% of flights if the shutdown did not end.The lack of government data is muddying the outlook for the Fed, which must decide whether to cut interest rates again at its next policy meeting in December. After the central bank eased by a quarter percentage point for a second straight meeting on October 29, Fed Chair Jerome Powell said another such reduction was not a foregone conclusion."The Fed needs help trying to figure out what's going on in the jobs market. They're getting seemingly conflicting signals and what they decide to do in December has ramifications obviously for the stock market," said Chuck Carlson, chief executive officer at Horizon Investment Services. Fed funds futures late on Friday were pricing in a roughly 65% chance of a rate cut in December. Before Powell's October comments, investors had viewed such a cut as almost a done deal.Investors were watching for developments that might suggest the end of the shutdown, which this week became the longest in US history. Focus was also on remaining high-profile quarterly reports, as a stellar earnings season in general nears a close. With 446 companies in the index having reported, 82.5% posted profits above analyst expectations, which would be the highest beat rate since the second quarter of 2021, LSEG IBES said on Friday. Reports due next week include Walt Disney and tech stalwart Cisco Systems. Those lead up to the quarterly report the following week from semiconductor firm Nvidia, the largest company in the world by market value that has symbolised investor enthusiasm for AI."I would just expect a little bit more volatility around technology leaders and technology as a whole heading into that Nvidia report," Saglimbene said.

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 Ministry of Social Development and Family (MSDF) participated in a high-level international event held on Tuesday under the theme "Digital Pathways Towards Regulating the Social and Solidarity Economy," as part of the activities of the Second World Summit for Social Development. Representatives from several Arab and international organizations were also in attendance.In his address, Assistant Undersecretary for Social Development Affairs, Fahad bin Mohammed Al Khayarin, emphasized that an economy combining family solidarity, social development, and digital transformation embodies the core vision of Qatar.He noted that global experience has proven that the government sector alone cannot meet all developmental needs.He added that the social and solidarity economy, as a strategic approach, promotes social development and equal opportunities. He explained that the State of Qatar places great importance on empowering vulnerable groups by creating decent job opportunities for youth, women, and people with disabilities, and by supporting productive family projects and transforming them into organized economic entities.This contributes to strengthening family and community cohesion and providing a sustainable social and economic safety net.The two options highlighted the importance of utilizing digital tools to organize productive families by building digital platforms that enable registration, market access, and efficient and transparent management of financial operations.This includes facilitating smart financing and equitable access to accessible financial solutions that support the growth of small businesses and open up opportunities for cross-border trade.He emphasized the necessity of building the digital capacities of those working in the social sector, particularly young people, and empowering them with the skills needed to use modern technologies and transform their ideas into innovative projects that support the national economy.He pointed out that the family represents the nurturing and driving environment for the social economy, and that small businesses often originate within homes and rely on family solidarity.He affirmed that the success of these projects means empowering the entire family and strengthening its vital role in achieving sustainable development.Assistant Undersecretary for Social Development Affairs at the Ministry of Social Development and Family, Fahad bin Mohammed Al Khayarin, affirmed the State of Qatar's commitment to continuing regional and international efforts to accelerate the transition towards a social and solidarity economy and enhance the integration of social and economic policies. This will make the family a central pillar in building a cohesive and prosperous society capable of keeping pace with transformations and achieving social justice and comprehensive development in the region.

The final phase of Qatar’s 25-year cultural plan features ambitious global projects designed to strengthen the nation’s position as a hub for art and innovation, according to Qatar Museums (QM) Chairperson Her Excellency Sheikha Al Mayassa bint Hamad bin Khalifa al-Thani.“Over the next decade, we will be introducing one project after another to continue to build a knowledge-based economy and support the growth of the creative economy,” she said in her keynote address marking the Qatar Creates anniversary season at the National Museum of Qatar (NMoQ).The keynote was delivered against a backdrop of institutional milestones, including the 50th anniversary of the NMoQ, the 20th anniversary of the QM, and the 15th anniversaries of Mathaf: Arab Museum of Modern Art and the Doha Film Institute (DFI).HE Sheikha Al Mayassa said that the plan involves three major institutions, which will further globalise the country’s cultural impact: the Qatar Auto Museum, the Lusail Museum, and the Art Mill Museum.These projects, she said, “hold two of the world’s most extensive and diverse collections”.The QM chairperson said that these museums will be amplified by the upcoming Art Basel Qatar, scheduled for February 2026, which signifies a major push into the international art market.HE Sheikha Al Mayassa said the Lusail Museum, designed by Swiss architectural firm Herzog & de Meuron and situated on Al Maha Island, will house the extensive collection of Orientalist art.Beyond a repository, it is envisioned as an institute where international scholars and artists convene to explore East-West connections.On Doha’s waterfront, HE Sheikha Al Mayassa said that architect Alejandro Aravena and his firm Elemental are transforming an industrial flour mill into the Art Mill Museum.This project, she pointed out, is planned to be “more than a museum”, serving as a vibrant creative village for art, craft, and design, facilitating connections between local and international creative communities.“Over the past two decades, we have been able to invest in both our hardware and software,” HE Sheikha Al Mayassa continued. “The hardware being the buildings, such as the one hosting us now, and the software being the talented people who bring our dreams to life.”She stressed that the future focus must be on cultivating this “software”, the creatives and innovators within the ecosystem, to build the knowledge economy.The core mission of the new strategy, she added, remains supporting local talent and growing the creative economy, extending the reach of existing platforms like the DFI, the Fire Station, and M7.“Culture is no longer a separate sphere, it is inseparable from our social, economic and environmental development,” said HE Sheikha Al Mayassa, who led the celebration of recent activities highlighting Qatari creatives. “It is the heart of our nation uniting our diverse communities.”These include the Liwan Open Studios and the inauguration of the Fashion Trust Arabia exhibition, “Threads of Impact”, which brought more than 80 designers to Doha.She noted that even the children’s focus is rooted in creativity and community health, pointing to the Dadu Children’s Museum of Qatar and the 3-2-1 Qatar Olympic and Sport Museum.According to HE Sheikha Al Mayassa, the Children’s Museum will work with artists from the Fire Station, reinforcing the strategy of “globalising the local and localising the global”.She also underlined the nation’s cultural achievements under the banner of a new 18-month campaign, “Evolution Nation”, marking 50 years since the founding of the NMoQ.

Japan's new Prime Minister Sanae Takaichi and US President Donald Trump affirmed at their summit in Tokyo to bolster cooperation on defense and the economy.On the security front, Takaichi and Trump are likely to have confirmed the importance of reinforcing the alliance's deterrence and response capabilities amid growing challenges posed by China and North Korea, while Washington is calling for allies to spend more on defense, Japan news agency (Kyodo) reported.Takaichi and Trump signed documents, including one on cooperation to secure and supply critical minerals, including rare earths, in an effort to enhance economic security, according to Kyodo.Takaichi described the Japan-US alliance as "the greatest alliance in the world."She is expected to stress her plan, pledged in her parliamentary speech last week, to increase Japan's defense spending to 2 percent of gross domestic product by March, two years ahead of the previously set goal of fiscal 2027, Kyodo added.Japan has been raising its defense budget significantly since the fiscal 2027 target was set when the government in late 2022 revised its long-term National Security Strategy, which Takaichi has vowed to update next year.The two sides are also expected to have affirmed the steady implementation of a trade agreement struck in July, which includes a Japanese commitment to invest $550 billion in key US industries such as semiconductors, critical minerals and shipbuilding as well as increased purchases by Japan of US agricultural and other products.Based on the bilateral deal, Trump lowered US tariffs on goods from Japan, reducing the levy on automobiles to 15 percent from the previous rate of 27.5 percent.Trump is scheduled to meet with Chinese President Xi Jinping in Seoul next Thursday, the next stop on his Asian tour.