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Saudi Aramco has chosen Citigroup Inc to help arrange a potential multibillion-dollar stake sale in its oil export and storage terminals business, according to people familiar with the matter.The US investment bank was selected in recent days after a pitching process that drew proposals from several other Wall Street lenders, the people said, asking not to be identified as the matter is private.The mandate is a win for Citigroup, whose Chief Executive Officer Jane Fraser has made a renewed effort to win business from large corporates and sovereign wealth funds in the Middle East. Aramco had tapped JPMorgan Chase & Co as a sell-side adviser when it previously sold stakes in its oil and gas pipeline infrastructure in separate transactions.The Saudi oil giant is expected to kick-off a formal sale process as early as next year and is likely to see interest from large infrastructure funds, the people said. Discussions are at an early stage and no final decisions have been made on the timing or structure of the transaction, they said.Representatives for Citigroup and Aramco declined to comment.Aramco is considering options including selling an equity stake in the business, Bloomberg News reported this week. It aims to raise billions of dollars from such a sale, people familiar with the matter said at the time.The plans are part of a broader attempt by the firm to sell a range of assets, including potentially part of its real estate portfolio.Oil prices have dropped about 16% this year and while the impact of that drop on Aramco’s earnings has been tempered by higher output, the firm has delayed some projects and looked to sell assets to free up cash for investments.The deals now being considered would mark a step up from previous transactions that were focused on stakes in pipeline infrastructure.Aramco’s main oil storage and export infrastructure is located at Ras Tanura on the Arabian Gulf and the company has similar terminals on the Red Sea. Internationally, the firm owns stakes in product terminals in the Netherlands and leases crude as well as product storage at main trade hubs in Egypt and at Okinawa in Japan.Earlier this year, a BlackRock Inc-led group signed an $11bn lease deal for facilities that serve Aramco’s Jafurah gas project in the kingdom. 

Treasury Secretary Scott Bessent said that a key theme of his interviews for the next chair of the Federal Reserve has been simplifying the US central bank, which he indicated has become too complex in how it manages money markets.“One of the things in terms of the criteria that I’ve been looking for” has been the interplay of the Fed’s various instruments, Bessent said on CNBC on Tuesday. “I realise the Fed has become this very complicated operation.”Bessent said his final second-round interview with the five candidates to succeed Chair Jerome Powell will be today, and reiterated that President Donald Trump may make his announcement on the nomination before December 25. The administration has previously said the finalists are Fed Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, National Economic Council Director Kevin Hassett and BlackRock Inc executive Rick Rieder.The Fed now maintains a so-called ample reserves approach in controlling its policy interest rate, which involves holding a sizeable amount of Treasuries on its balance sheet. As part of the current operating system, it pays interest on the reserves that banks park with it, and for any cash that money market funds temporarily place at the Fed.“The Fed has taken us into a new regime — what is called ample reserves regime — and it looks like that might be fraying a bit here in terms of whether the reserves are actually ample in the system,” Bessent said.Policymakers last month decided to halt the contraction of the Fed’s balance sheet as of December 1 in an effort to ensure that liquidity remains “ample.” It had been shrinking its portfolio since June 2022 after its holdings of Treasuries and mortgage securities had soared during the Covid crisis.“There are all these facilities and operations, the standing repo facilities, and I think we’ve got to simplify things,” Bessent said. He didn’t specify how he thought the central bank ought to overhaul its current operations.The Standing Repo Facility allows eligible institutions to borrow cash in exchange for Treasury and agency debt. It has seen regular use in recent weeks, reaching $50.4bn on October 31 — the most since the tool was made permanent in 2021.“There’s this very complicated calculus between the monetary policy, the balance sheet and regulatory policy,” Bessent said. “And we’ve really emphasised in the interviews, what’s the interplay for that calculus?”The Treasury chief also said, “I think it’s time for the Fed just to move back into the background,” without detailing what that would entail. And he suggested central bankers may be speaking too often.“We just need to calm down all these speeches by these bank presidents that are just redundant,” Bessent said, appearing to single out reserve bank chiefs rather than Fed board members.He also suggested he had issues with some particular Fed presidents.“These regional presidents were supposed to be people from the district,” Bessent said. “And we’ve got at least three, maybe four, of the reserve banks where people were hired from outside the district. They don’t even live in their district. They commute back to New York.”The interest-rate-setting Federal Open Market Committee comprises seven governors and five reserve bank presidents — the New York Fed chief and four others on a rotating basis. The presidents, unlike the governors, aren’t nominated by the White House or confirmed by the Senate. The current roster of reserve bank presidents requires re-authorisation by the Fed board in a once-in-five-year exercise in February. The Atlanta Fed chief, Raphael Bostic, has said he plans to step down.Bessent also observed that “the governors seem to be leaning toward cutting rates.”Asked about Trump’s suggestion earlier this month that he would fire Bessent if the Treasury chief didn’t help secure lower rates, Bessent said, “If you were in the room, he was joking.”

Doha Bank has launched a first-of-its-kind feature that allows customers to initiate and amend letters of guarantee (LG) directly through the Doha Bank Mobile App.This innovative service marks a new milestone in the bank’s digital transformation journey, simplifying trade finance operations while ensuring efficiency, speed, and security for customers."We are continuously investing in digital innovation to simplify our customers’ banking experience. The introduction of LG services on our Mobile App reinforces our commitment to providing convenient, secure, and technology-driven solutions that support business efficiency and empower our clients to manage their operations with confidence," said Sheikh Abdulrahman bin Fahad bin Faisal al-Thani, Group chief executive officer, Doha Bank.Through this launch, Doha Bank reinforces its position as a pioneer in digital banking innovation, offering solutions that combine speed, transparency, and security. The new feature simplifies processes, reduces turnaround times, and strengthens Doha Bank’s role as a trusted partner for businesses in Qatar and beyond.

Doha's fixed income market Monday got the much-needed stimulus with Ahlibank Qatar becoming the first corporate entity to list its bond in the Qatar Stock Exchange (QSE).The listing of Ahlibank Qatar’s a QR500mn, 4.45%; three-year fixed rate note in the QSE comes two years after the Qatar Central Bank launched the third Financial Sector Strategy, which aims to further develop the financial sector in the country as part of the National Vision 2030.The bonds have started trading after a direct listing. The listing marks the first corporate bond issuance to be listed and traded on the Exchange and represents an important milestone in the development and diversification of Qatar’s capital markets.The bonds, which come under its broader $2bn euro medium-term note programme, are traded under the ticker “CA01”, and the indicative (reference) price for the first day of trading was set at 100% of the bond’s nominal value (QR1,000). A 10% price fluctuation limit — upward and downward — is applicable.The net proceeds from each issue of notes will be lent by the issuer (ABQ Finance) to the guarantor (Ahlibank Qatar) and will be used by the guarantor for its general corporate purposes, which include making a profit, or as otherwise specified in the final terms.A bell-ringing ceremony was held at the QSE to mark this milestone occasion. The event was attended by Dr Tamy bin Ahmad al-Binali, chief executive officer of the Qatar Financial Markets Authority; Abdullah Mohammed al-Ansari, chief executive officer of the QSE; Sheikh Mohammed bin Jassim al-Thani, chief executive officer of Edaa; and Hassan Ahmed al-Efrangi, chief executive officer of Ahli Bank. Their presence underscored the high level of co-ordination and institutional alignment among the key entities of Qatar’s financial sector.Ahli Bank has long been a key contributor to Qatar’s financial landscape. The issuance of its inaugural QAR denominated corporate bonds supports the Bank’s efforts to diversify its funding sources, strengthen its capital structure, and enhance long-term financial stability. As one of the country’s established financial institutions, Ahli Bank continues to play an important role in delivering banking solutions and supporting economic development.The listing advances several priorities under the third financial sector strategy. These include market development, financial sector competitiveness, diversification of investment instruments, and broader access for investors. It expands the range of opportunities available to market participants and reinforces the depth and maturity of Qatar’s financial market.The QFMA, QSE, Edaa and Ahli Bank worked closely together to ensure a smooth and efficient listing process consistent with international standards. Their collaboration reflects a unified effort to strengthen market infrastructure, enhance regulatory coordination, and support greater participation from both local and international investors.Qatar’s capital market institutions continue to work to introduce new products and advance initiatives that reinforce the pillars of the Third Financial Sector Strategy. These efforts aim to enhance liquidity, improve market accessibility, and support the evolving needs of issuers and investors.One of the primary goals of developing Qatar’s financial markets is to encourage Qatari companies to raise funds from domestic sources and reduce their reliance on foreign funding. An important initiative in this context will be to establish general guidelines and policies to encourage corporate debt instruments issuance by Qatari companies.

The Qatar Central Bank (QCB) yesterday launched its mobile application, enabling users to access data, reports, and all updates instantly and efficiently.This initiative is aimed at enhancing the user experience and keeping pace with technological advancements and the requirements of digital transformation within the financial sector.This launch aligns with the Third Financial Sector Strategy and supports Qatar National Vision 2030, which seeks to build a knowledge-based digital economy.The mobile application has been designed according to the latest technical standards, with a user-friendly interface that allows for easy browsing and searching.The mobile application can be downloaded through the App Store.

Spanish coach David Prats of Al Shamal emphasized the difficulty of his team's upcoming match against Al Shahaniya, scheduled for Sunday, as part of Round 10 of the 2025-2026 Doha Bank Stars League.He stressed the importance of his players exercising caution throughout the encounter.Prats described Al Shahaniya as a dangerous team with talented players who have been delivering solid performances, regardless of their current position in the league standings, which he believes does not reflect the team's true strength.Speaking at the pre-match press conference, Al Shamal coach expressed great confidence in his players and their ability to achieve a positive result and bring joy to the club's loyal fans, who never hesitate to support the team.The Spanish coach also voiced his satisfaction at playing once again at Al Shamal Stadium, which hosted the recent match against Al Wakrah. It marked the team's first appearance at the venue, and he extended his gratitude to the Al Shamal supporters for their strong presence and unwavering encouragement during that game.Al Shahania assistant coach Montazeri spoke to the media ahead of their 2025-2026 Doha Bank Stars League Week 10 match against Al Shamal."We will face Al Shamal, who are having a good season so far. They are a very organized team, so it will be a tough match, like all the league matches. Regarding preparations for this game, the players have shown great enthusiasm in following the instructions given to them during training and I am satisfied with what the players have shown this week," he said."Before this, we faced a strong team in the QSL Cup, Qatar SC, and we managed to win. I expect the Al Shamal match to be exciting and intense," he added."I am currently focusing on the team's mental preparation and the morale of the players, who possess great potential. I am striving to restore the players' confidence through this match and achieve positive results," stated Montazeri.

His Excellency the Governor of the Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud al-Thani, who is also the Chairman of the Qatar Financial Markets Authority met Paul Atkins, Chairman of the United States Securities and Exchange Commission (SEC) here Thursday. During the meeting, they exchanged views on a range of topics of mutual interest, and discussed ways to enhance bilateral co-operation in relevant fields, the QCB said.

His Excellency the Governor of the Qatar Central Bank, Sheikh Bandar bin Mohammed bin Saoud al-Thani took part in a high-level panel titled 'Global updates and progress in cross-border payments', held during the 2025 Middle East and Africa Innovation Summit, organised by the Saudi Central Bank (SAMA) and the Bank for International Settlements (BIS) in Riyadh.The event was held under the theme 'Resilient finance, innovative future'. The session, which addressed new challenges and opportunities posed by technological innovation in the financial sector, featured the participation of Andrew Bailey, Governor of the Bank of England and chair of the Financial Stability Board; Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, and Jameel Ahmad, Governor of the State Bank of Pakistan, along with the session moderator, Pablo Hernández de Cos, General Manager of the BIS.

The Protection and Social Rehabilitation Center (Aman), one of the centers operating under Qatar Foundation (QF), launched the interactive game "Aman Journey" on Tuesday. The event was organised in collaboration with the Ministry of Education and Higher Education (MoEHE) and the Doha Bank Group (DBG), marking the celebration of World Children's Day 2025, observed annually on November 20.The launch took place in a dedicated QF pavilion, with Assistant Undersecretary for Special Education Affairs, Omar Abdulaziz al-Naama, alongside several of Aman's partners from various sectors in attendance. Acting Executive Director of Aman, Fadhel bin Mohammed al-Kaabi, emphasised that the center is committed to producing innovative interactive programmes for children, noting that the game aims to strengthen children's awareness of social protection issues, imbue them with skills to hold off all kinds of violence, and reinforce personality building and positive behavior.It is essential to merge technology with awareness projects targeting women and children alike. This approach aligns with Qatar National Vision and efforts to support innovation, as well as the objectives of the Third National Development Strategy, which emphasizes digital economy advancement and leveraging technology more broadly to serve the community, al-Kaabi highlighted.He stressed the need for concerted efforts among relevant agencies in the educational and health sectors to ensure a safe environment for children and to push back against violence directed at them, considering them the cornerstone of the future. Director of Community Awareness at Aman, Bukhita al-Ghiathin, explained that the game is an interactive digital platform available on the MoEHE’s Qatar Education portal, targeting children aged 4 to 8 years.The game takes the child on a journey through landmarks in Qatar, delivering awareness content in a question-and-answer format, away from conventional methods, thereby strengthening the child's understanding of social protection mechanisms and how to safeguard themselves at home and in public spaces, outlined al-Ghiathin.Director of the Office of Communication & Media at Aman, Hanan al-Ali, underscored the importance of community partnership in the success of the project, noting that DBG provides prizes for participants, selecting the best player who applies healthy behavioral practices in interactions with others.The game will be available to all public and private schools via the Qatar Education Platform and will be introduced through Aman's awareness workshops in schools, alongside a dedicated pavilion to showcase and operate the game for visitors, as well as promotion through social media platforms, she said.

Forbes Middle East has ranked Doha Bank Group CEO Sheikh Abdulrahman bin Fahad bin Faisal al-Thani as “the second most powerful banking executive in Qatar” in its annual Top 100 CEOs in the Middle East 2025 list.The ranking celebrates executives who demonstrate exceptional leadership, drive innovation, and shape the region's business landscape. The recognition reflects Sheikh Abdulrahman’s visionary approach to banking and his leadership in positioning Doha Bank at the forefront of digital innovation in Qatar's financial sector.Under his guidance, the bank has pioneered industry-first initiatives, including Qatar’s first mobile app for Letter of Guarantee services, reinforcing its commitment to delivering cutting-edge solutions that serve evolving customer needs.Forbes Middle East’s Top 100 CEOs list profiles the region’s most influential business leaders at the helm of major corporations, acknowledging those who set new standards for excellence, navigate complex markets, and drive sustainable growth across diverse industries.Sheikh Abdulrahman said: “This recognition reflects the dedication of our teams and the trust of our clients. At Doha Bank, we are committed to advancing digital banking, operational excellence, and delivering solutions that support Qatar's economic vision. Being acknowledged by Forbes Middle East reinforces our commitment to setting new benchmarks in the banking sector and serving as a forward-thinking financial institution.”The ranking adds to Doha Bank’s growing list of prestigious industry awards, reaffirming its position as one of Qatar’s leading financial institutions and a trusted partner in driving innovation and excellence in the region's banking sector.

Qatar Islamic Bank (QIB), in collaboration with American Hospital Clinics, organised a staff awareness initiative to mark ‘World Diabetes Day’ at QIB’s head office, reinforcing the bank’s ongoing commitment to employees’ well-being and community health.Throughout the day, medical professionals from American Hospital Clinics provided blood glucose and blood pressure screenings, Body Mass Index (BMI) assessments, and on-the-spot consultations with specialised doctors to help employees understand risk factors and adopt healthier lifestyle choices. Participants received practical guidance on nutrition, physical activity, and preventive measures to support long-term health.Mashaal Abdulaziz al-Derham, assistant general manager – head of Corporate Communications & Quality Assurance at QIB, said: “At QIB, we are committed to creating a supportive and healthy workplace while contributing to the well-being of our colleagues and the wider community.“Our ‘World Diabetes Day’ awareness initiative provided employees with practical tools for early detection and prevention, and we thank American Hospital Clinics for their valuable partnership in delivering expert screenings and guidance.”QIB regularly partners with leading healthcare institutions to deliver evidence-based health activations for employees, including screening days, awareness sessions, and expert talks that support early detection and prevention. These efforts form part of QIB’s Corporate Social Responsibility programme and align with the pillars of Qatar National Vision 2030, promoting a healthy lifestyle and sustainable human development across the community.

The US bank JPMorgan has expanded in Dubai as part of a broader push to grow and do more business with medium-sized companies, an executive told Reuters, as competition in the Middle East intensifies.The move, not previously reported, is a challenge to competitors such as Citigroup, and comes after JPMorgan recently devoted more resources to coverage of so-called midcaps in Austria and Poland."There's a global focus on doing more in the midcap space," Stefan Povaly, London-based co-head of corporate banking for Europe, the Middle East and Africa, said. Midcaps give JPMorgan another revenue stream beyond its traditional focus on the biggest blue-chip firms."The Middle East is of course a priority... This is the first step for an expansion into the midcap space," Povaly said.Global financial firms have increasingly set up operations in the Middle East to tap into oil wealth and growing regional markets. Barclays recently announced an expansion into Saudi Arabia, while Goldman Sachs opened an office in Kuwait.Citigroup first opened in the UAE in 1964, and added commercial bank activities in 2007. Speaking about competition in general, Alex Stiris, head of Citi's commercial banking in Europe, the Middle East and Africa, told Reuters that Citi sees the UAE as a location with one of the greatest opportunities for increasing market share and that his bank has an ingrained "natural advantage"."We have seen more competition come into the UAE," he said, not referring to any individual firm."Obviously the more competition, the more we have to be on our tiptoes. So it worries me to some extent," he said. "We can't rest on our laurels.""We are investing selectively," Stiris said. "Investing is not just in terms of just adding more headcount. It's also in terms of just looking at the people we have, and in some cases, just upgrading people." "There's also investing in terms of capital,” he added.Elsewhere, JPMorgan is in the early stages of evaluating a move to increase covering midcaps in Turkey."Over time, we could look to hire bankers dedicated to midcap clients in the country," Povaly said.JPMorgan has relocated Tushar Arora, a banker who has been with the US lender for more than a decade, from London to take up a Dubai role as the first in a team to focus on smaller venture capital-backed companies.The activity follows a push to Poland with the hire of Marcin Pietrucha from Santander, who has built a team based in Warsaw and other hubs.In parallel, JPMorgan is seeking more midcap business in Austria, headed by banker Philippe Bull based in Frankfurt.JPMorgan has a large presence in Germany, in part for coverage of the country's medium-sized Mittelstand firms.JPMorgan has been on an expansion course in Europe. The bank this week officially opened an office in Berlin with space for 400 staff ahead of its launch of a digital retail bank.Last week, German regulators imposed a record fine on JPMorgan for deficiencies in its anti-money laundering controls, reflecting the scale of its operations in the country.