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The GCC's fastest-growing super-app begins its phased launch in Kuwait, bringing world-class technology to everyday life. Snoonu has officially launched its operations in Kuwait, marking a major milestone in the company’s regional expansion strategy and reinforcing its position as one of the GCC’s fastest-growing technology platforms.More than a delivery application, Snoonu is a technology-driven multi-service platform built on advanced cloud infrastructure and powered by a world-class team with expertise across leading global technology companies. The platform is designed to simplify everyday life by seamlessly integrating multiple services into one user experience. As part of its phased launch in Kuwait, Snoonu is introducing four core services to the market:Groceries: Fast and reliable delivery of everyday essentials.Snoosend: An on-demand courier solution enabling users to send and receive items quickly and conveniently.Flowers & Gifts: Curated gifting solutions for various occasions.Services: On-demand access to trusted home service professionals, including electricians, plumbers, maintenance specialists, and more. Additional verticals and services are expected to be introduced progressively over the coming months as the platform expands its footprint across Kuwait.“Kuwait represents a defining milestone in Snoonu’s regional growth journey. We are committed to building a platform that delivers real value through speed, operational excellence, and a world-class customer experience,” said Hamad Al Hajri, Founder of Snoonu and CEO of International Markets at Jahez International.“Our priority in Kuwait is to build a platform that genuinely understands the local market and evolves alongside the needs of its community,” said Bader Al Ajeel, CEO of Snoonu Kuwait.Founded in 2019, Snoonu has rapidly grown into one of the GCC’s leading technology companies. The Kuwait launch forms part of the company’s broader regional expansion roadmap following Jahez International’s majority acquisition of the company in 2025.Snoonu is now available for download on the App Store and Google Play.

At the start of the year, QNB’s view on China’s economic outlook was constructive. Although growth is expected to moderate slightly, a combination of strong exports, resilient domestic demand and ongoing productivity improvements was expected to keep economic expansion close to the government’s 5% target for 2026.“However, recent geopolitical tensions affecting global energy availability and prices have challenged this relatively constructive outlook. Given that China is the world’s largest importer of crude oil, investors and analysts have raised concerns that sustained increases in global energy prices could significantly weigh on economic activity.“In our view, these concerns are overstated. While higher energy prices will inevitably raise China’s import bill, the Chinese economy is structurally better positioned than most other large economies to absorb such shocks. Three key factors explain this relative resilience,” QNB stated in its latest economic report.First, China’s manufacturing sector is more stable and less dependent on hydrocarbons (oil and natural gas) than that of most advanced economies. Electricity generation in China relies heavily on coal and increasingly on renewable energy sources rather than imported hydrocarbons. While China has been making efforts to reduce the overall coal contribution to the energy mix, coal remains the main source of power generation in China and represents a pillar for domestic energy security, QNB stated.Approximately 90% of China’s coal consumption is supplied domestically, allowing policymakers significant influence over energy availability and pricing conditions. Moreover, the composition and structure of China’s gas imports also shelter it from volatile short-term prices.Nearly half of China’s natural gas imports arrive through pipeline deliveries from neighbouring countries, primarily Turkmenistan and Russia, under long-term contracts that span multiple decades. Importantly, part of China’s oil consumption is also embedded in export-oriented manufacturing, QNB stated.“This means that a portion of higher energy costs can ultimately be passed on to foreign consumers through export prices, reducing the burden on domestic firms and households. As a result, fluctuations in global oil and gas markets tend to have a more limited impact on industrial energy costs in China than in economies that rely heavily on imported hydrocarbons,” stated QNB.Second, the structure of transportation and household consumption also reduces China’s exposure to oil price shocks, according to QNB, noting that vehicle ownership per capita in China remains significantly lower than in advanced economies. In addition, China has invested heavily in alternative transportation infrastructure, including extensive high-speed rail networks and large urban public transport systems, QNB stated.“These investments reduce the importance of private vehicle use in both passenger and freight transportation. At the same time, China has rapidly expanded the adoption of electric vehicles, which are steadily lowering the economy’s dependence on gasoline and diesel. Together, these structural factors limit the transmission of oil price increases to households and the broader economy, protecting disposable incomes,” QNB stated.Third, China has accumulated substantial crude oil reserves that provide an additional buffer against global price volatility. Although the government does not disclose official figures, most estimates suggest that strategic and commercial reserves amount to roughly 1.3bn barrels, equivalent to around four months of import coverage, stated QNB.These stockpiles were largely accumulated when global oil prices were significantly lower and can be deployed during periods of market stress. Authorities have demonstrated their willingness to release portions of these reserves in the past to limit the pass-through of higher global prices to domestic consumers and businesses.Taken together, these structural features suggest that China’s economy is likely to remain relatively resilient even in a scenario of sustained energy market disruption. While higher energy prices will increase import costs and may place some upward pressure on inflation, the overall macroeconomic impact on growth should remain limited compared to other major economies, QNB stated.“All in all, although geopolitical shocks have introduced additional uncertainty into the global economic environment, China’s growth outlook remains broadly intact. The combination of a diversified energy mix, lower transportation dependence on oil and sizeable strategic reserves provides an important cushion against global energy volatility. These structural advantages suggest that China is better positioned than many of its peers to weather the current energy shock, while maintaining growth close to its policy targets,” QNB added. 

Estithmar Holding Q.P.S.C. has announced its financial results for the year ended 31 December 2025. The group reported a 54% increase in revenue to QAR 6.4 billion, compared with QAR 4.2 billion in 2024. Gross profit rose to QAR 2.1 billion, up from QAR 1 billion in 2024, representing growth of 111%. EBITDA reached QAR 1.5 billion, an increase of 102% year-on-year.Net profit climbed 122% compared with 2024, reaching QAR 938 million. Earnings per share increased by 145% to QAR 0.264. The growth in net profit was primarily driven by higher revenues, particularly from the specialized contracting and healthcare sectors. The results reflect the group’s ability to convert operational growth into sustainable profitability while maintaining financial discipline.Total assets increased by 23% in 2025 compared with the previous year, largely due to new projects added to Estithmar Holding’s portfolio, including Baghdad International Hospital in Iraq.The Board of Directors has recommended the distribution of dividends equivalent to 20% of the company’s share capital, in the form of 2 bonus shares for every 10 shares held.The 2025 results show a marked improvement across key financial indicators, supported by expansion in the group’s core sectors, improved project execution, and enhanced operational efficiency across its businesses. These results demonstrate Estithmar Holding’s ability to scale its operations while maintaining financial discipline and strengthening profitability.Commenting on the results, Juan Leon, Holding Chief Executive Officer of Estithmar Holding, said: “2025 represents an important milestone in Estithmar Holding’s journey. Our strong financial performance reflects the successful execution of our growth and expansion strategy across the group’s sectors, as well as the considerable efforts of our teams across multiple markets.“Achieving strong growth across all key financial indicators highlights the resilience of our diversified business model and our continued focus on operational excellence, maintaining financial discipline and governance. As we expand our footprint and strengthen our presence in regional markets, we remain committed to delivering sustainable value to shareholders while exploring new growth opportunities.”“The group’s strong financial position allows us to move forward with upcoming strategic initiatives, while also evaluating potential opportunities in capital markets to support the next phase of the group’s expansion”, Leon added. The specialized contracting group accounted for the largest share of revenue contribution in 2025. The sector delivered strong activity both locally and regionally, particularly in Saudi Arabia, Syria, Algeria and Iraq. During the year, the industrial and specialized contracting businesses continued to expand, executing major projects across 12 countries. These include large-scale developments such as the Red Sea projects in Saudi Arabia, infrastructure projects in Syria, and several major developments in Qatar, including educational facilities.During the year, the group secured 262 new contracts, reflecting growing confidence in its companies as partners for the delivery of major projects.Estithmar Holding’s healthcare group, through its subsidiary Apex Health, also continued to deliver sustainable growth, driven by the implementation of its regional hospital management and operations model, including in Iraq and Libya. Within Qatar, the group’s hospitals; The View Hospital and the Korean Medical Center continued to build patient trust through adherence to the highest international quality standards and by hosting leading global medical professionals. In 2025, The View Hospital performed more than 100 robotic surgeries.Services group, particularly companies specializing in facilities management and catering services, also contributed to revenue growth and profitability. Companies within the Group maintained their market leadership by improving operational efficiency, investing in technology, and strengthening customer satisfaction, while also expanding regionally and internationally.The services group secured more than 450 new contracts in 2025, in addition to maintaining a strong portfolio of ongoing agreements, supported by a customer retention rate of 95%. The group provides a range of services including facilities management, food services and catering solutions, workforce and human resources solutions, and event support services. Estithmar Ventures, the real estate development and touristic developments group, recorded revenue growth of 99% compared with 2024, driven by strong demand for its developments. These include Al Maha Island, which attracted more than 5.2 million visitors during 2025. The year also saw a strong conclusion to the third season of Lusail Winter Wonderland and a successful launch of its fourth season, with the destination welcoming thousands of residents and visitors to Qatar.The Group’s hospitality portfolio including Katara Hills Resort and Maysan Doha continued to lead the luxury hospitality segment in Qatar throughout the year.Internationally, construction of the Rixos Baghdad Hotel & Residences continued to progress, alongside increasing sales activity and rising demand from buyers. In addition, the Rosewood Maldives resort project advanced rapidly during the year, with construction progress accelerating towards completion. The development is expected to become a landmark destination within the Maldives and the global tourism market.

Qatar's economy is set to sustain robust growth averaging 4% over the medium term, driven by major LNG expansion and successful reform implementation, the International Monetary Fund has said.Amid economic and geopolitical shocks, Qatar has continued to demonstrate "resilience", underpinned by a favourable economic outlook, with growth projected to average 4% in the medium term, according to the International Monetary Fund (IMF)."Qatar has shown strong resilience amid economic and geopolitical challenges, supported by sound macroeconomic management, the significant expansion of LNG (liquefied natural gas) production over the medium term, and strong non-hydrocarbon economic growth amid reform implementation guided by the Third National Development Strategy (NDS3)," said Nathan Porter, who led the IMF team to Doha ahead of the Article IV consultation.Economic growth recovered to 2.4% in 2024, strengthened further to around 3% through the third quarter of 2025, and is expected to average around 4% in the medium term, he said.Qatar's proven commitment to growth-friendly fiscal consolidation, accelerating revenue and expenditure reforms, and anchoring the medium-term fiscal framework to intergenerational equity would all support fiscal sustainability and resilience, the Bretton Woods organisation said.Although risks to the growth outlook include a global growth slowdown, tighter financial conditions, geopolitical tensions, and long-term uncertainty over LNG market oversupply and climate stress, he said on the upside, gains from accelerated reforms and LNG production expansion could "boost growth more than expected".Highlighting that fiscal and external current account surpluses are set to continue in the medium term, he said the fiscal stance remains consistent with a level that ensures intergenerational equity, and broadly prudent spending plans are envisaged under the 2026 budget."The positive economic outlook provides an opportunity to accelerate revenue diversification, especially by introducing a value-added tax; enhance spending efficiency; improve transparency of domestic gas pricing; and continue reorienting public spending to support reforms facilitating private sector growth," he said.The IMF official said adopting a full-fledged medium-term fiscal framework, with a fiscal anchor aimed at ensuring intergenerational equity and complemented by greater transparency and risk management, would enhance fiscal sustainability and support economic transformation.Recent pension reforms are welcome and should be supported by enhanced actuarial transparency to support fiscal planning, he said.Building on its achievements so far, Qatar's efforts to transition to a diversified, knowledge-based economy guided by the NDS3 should prioritise building and retaining human capital, enhancing the skills and private sector employment of nationals, fostering innovation including digitalisation and AI (artificial intelligence) capabilities, easing SMEs' (small and medium enterprises) access to finance, and promoting trade diversification, he said."Realising the ambitious goals of NDS3 calls for careful and strategic implementation and reform sequencing," Porter said, adding that enhancing data availability and quality would also support the analysis and development of ongoing and future plans and the path forward. 

Saudi Arabia, Jordan and the United ‌Arab Emirates led regional states Monday in condemning Israel's move to ease settlement expansion and ‌widen its powers in the West ‍Bank, a step critics said went in the direction of annexing occupied land.Sunday's decisions by Israel's security cabinet will make it easier for ⁠Jewish settlers to buy land in the West ⁠Bank and give Israeli authorities more power to act in areas supposedly under full Palestinian control, two senior Israeli ministers ‍said.**media[415019]**One of them, Finance Minister Bezalel Smotrich, said in announcing the decisions that the government would not allow the the idea of a Palestinian state.A joint statement by foreign ministers of Middle Eastern and some other Muslim countries, including Egypt and Turkiye, denounced the decisions as a violation of international law that would undermine the vision of a two-state solution as well as stability in the region.They said the moves meant to entrench Israeli settlement of the West Bank, displacing Palestinians and imposing unlawful Israeli sovereignty there. Annexing ‌the territory has long been a priority of far-right parties in Netanyahu's coalition.**media[415020]**Most nations have long backed the ⁠creation of a Palestinian state ‌alongside Israel as the best way to resolve the generations-old conflict and see the West Bank, which Israel has occupied since 1967, as the largest part of that future state.Israeli Defence Minister Israel Katz and Smotrich issued a joint statement explaining the decisions of the five-member security cabinet, which were not published in full.The security cabinet decided to repeal a law dating from Jordan's control of the West Bank before 1967 to make land registries public rather than confidential, and to remove a requirement for a permit from a civil administration office.They said these moves would make it easier for Jews to purchase land in the West Bank.Hagit Ofran from the Israeli settlement watchdog group Peace Now said the decision was barred by international law and represented a step towards annexation ​of the West Bank.**media[415021]**"The decision to ‌allow every Israeli the right to buy land in the West Bank without government approval, without inspection, is also another way of saying it's normal life. ⁠It's not occupied territories, it's like part of ‍Israel," she said.Annexation is opposed by US President Donald Trump, who last year said he would not allow Israel to carry out such a step."It's not going to happen," Trump, who is expecting Netanyahu at the White House for a meeting tomorrow, said in September.Katz and Smotrich also said the government had decided to expand monitoring and enforcement actions regarding water offences, damage to archaeological sites and environmental hazards to areas A and B of the ​West Bank.Under the Oslo interim peace accords of 1993, Area A was designated as under security control of the Palestinian Authority and Area B as under joint control with Israel. Most of the West Bank became Area C under full Israeli security control.Those changes could allow the Israeli military to carry out demolitions of Palestinian property and prevent Palestinian development not only in Area C but throughout the West Bank, Peace Now said in a statement.In Hebron, a West Bank city with extensive archaeological remains and a significant Israeli settler community, Palestinians voiced dismay at the decisions."It becomes easier to confiscate land, easier and faster to expand settlements and easier to ⁠demolish Palestinian homes," said Issa Amr, who heads an organisation in Hebron called Youth Against Settlements. 

The Samla International Race, with its various partnerships, has developed from a well-known local challenge into a global endurance platform, according to Samla Race Organising Committee CEO Eng Azzam Abdulaziz al-Mannai. Speaking to 'Gulf Times' on the sidelines of the event Thursday at Al Sharq Village, he said that ahead of the endurance race scheduled for January 24, Samla International organisers forged a series of strategic alliances aimed at positioning Qatar as an emerging hub for elite multidisciplinary sport, marking a decisive step in the event’s global expansion.Al-Mannai said the agreements represent a milestone in Samla’s journey toward international recognition, highlighting its ambition to move beyond its local roots and secure a place on the global sporting calendar. This year’s edition will see more than 400 athletes competing across six demanding stages, all to be completed within a 12-hour cut-off. The race will unfold in southern Qatar’s desert, starting from Sealine Beach and cutting through a range of challenging natural terrains.“This year’s race will be truly spectacular and it’s a really special challenge,” al-Mannai said. “Six stages, four disciplines, and 100km in 12 hours. Resilience and adaptability are just as important as endurance.”Launched in 2016, Samla has long been recognised as a proving ground for regional endurance athletes. However, organisers stressed that the event is now deliberately repositioning itself as an international race capable of attracting elite competitors and global attention.“Samla has always been there for local athletes. However, we want Samla to expand internationally after almost a decade, beginning here in Qatar,” al-Mannai said. “Because it differs from many other endurance events, the race has enormous potential.”He noted that Samla’s distinct identity lies in its off-road format and the demanding climate and terrain of Qatar, which together create a rare test of physical and mental endurance. “The challenge takes place across varied environments, including sand dunes, open water, and difficult weather conditions,” he said. “This makes it a very unique race and a genuine endurance test.”Al-Mannai added that the involvement of international partners has played a key role in elevating the race’s profile and professional standards, helping align it with globally recognised endurance events. Organisers also highlighted the wider impact of Samla International on Qatar’s sports tourism sector and international image. With global brands, international athletes and local stakeholders involved, the race serves not only as a sporting challenge but also as a showcase of Qatar’s diverse natural landscape.Al-Mannai encouraged both participants and spectators to be part of the experience. “I invite everyone who has registered to enjoy the race and wish them the very best,” he said. “For those who could not register this year, come and enjoy the show and prepare yourselves for the next edition.” 

The Public Works Authority (Ashghal) announced the completion of all works on the first package of the Roads and Infrastructure Development Project at Al-Egda, Al-Khor, and Al-Heedan.The project serves the new citizens’ land plots in the area, which is located west of Al-Bayt Stadium, specifically north of Al-Khor Coastal Road and Al-Egda Street, and west of Al-Heedan Street. The project serves the area through the construction of an internal road network and the provision of advanced infrastructure facilities that meet the needs of residents to keep pace with future urban expansion.The project engineer in the Northern Areas Section of the Roads Projects Department at Ashghal, Eng. Tamader Almas, explained that the authority implemented the roads and infrastructure project in Al-Egda, Al-Khor and Al-Heedan, as part of the country's comprehensive plan to develop infrastructure services, upgrade road networks in existing areas, and prepare and equip new land plots with all essential services to make them ready for residents and enable them to begin building their homes.She added the project serves 738 new land plots and aims to achieve significant improvements in the area to enhance the quality of life and facilitate traffic flow.Regarding the works carried out within the project, Tamader said the project provided a road network of 19km along with traffic safety elements such as street lighting systems and poles, directional signs, and road markings.The project also included the construction of a 24km sewage network, a 33km surface and groundwater drainage network, a 7km treated water network, and a 20km potable water network.New drainage pipes were laid, a new water flow distribution system was installed, and the system was connected to the main sewage network. Additionally, a 44,000-cubic-metre emergency rainwater storage tank was constructed to reduce water accumulation during the rainy season.Local materials and manufacturers were used in most of the project works, with the local component reaching 70% of the total materials used. Local Qatari materials used included lighting poles and lamps, drainage pipes, precast manholes, electrical cables, directional signs, and interlocking pavers. This is in line with Ashghal’s support for local manufacturers and the qualification initiative launched by the authority in 2017. 

China’s credit expansion was the weakest in more than a year last month, dragged down by slower government bond sales and sluggish borrowing demand across the economy.Aggregate financing, a broad measure of credit, increased 815bn yuan ($115bn) in October, according to Bloomberg calculations based on data released by the People’s Bank of China on Thursday. That’s the lowest level since July 2024 and well short of the 1.2tn-yuan forecast by economists in a Bloomberg survey.Financial institutions recorded an expansion of 219bn yuan of new loans in the month, also worse than expected, with growth in the outstanding stock of loans to the real economy reaching a record low.Government bond issuance has recently slowed compared with a year ago, as authorities brought forward sales earlier in 2025. Another factor at play for credit growth is seasonal, since banks are usually not in a rush to meet their lending targets at the beginning of each quarter.“Disappointing as the October credit report is, we don’t expect it to push the People’s Bank of China to loosen its key policy levers any further this year. But the PBoC remains in an easing cycle and will probably keep liquidity conditions supportive for growth. Given the weakness in the economy, we see it delivering fresh easing in the first quarter of next year,” says David Qu, Bloomberg Economics.The disappointing reading came despite the boost from the rollout of funding provided under China’s new policy financing tool, which is worth 500bn yuan. It underlined just how sluggish borrowing demand has become in the face of weak consumer and business confidence.Companies were reluctant to borrow for investment or expansion, as mid- and long-term corporate loans only expanded 31bn yuan, less than a fifth the level a year ago.Household mid-and long-term loans, a proxy for mortgages, contracted again, in a sign consumers continue to shy away from home purchases.Taken together, additional borrowing by households so far this year was the smallest since the global financial crisis in 2008.“Weak mortgage demand remains a major drag on credit growth,” said Leah Fahy, China economist at Capital Economics. “It’s also clear that the subsidies for consumer loans launched at the start of September haven’t put a floor under household demand.”Banks struggling to find borrowers are increasingly doling out fake loans to clients in order to meet government-set targets for credit, Bloomberg News has reported.For now, China’s central bank has signalled it remains patient with the continued slowdown in credit growth, saying it’s natural as the economy transitions away from old growth drivers. That guidance has led to reduced expectations for further interest rate cuts by the end of this year.Looking ahead, analysts at Barclays Bank see faster sovereign debt sales offering more support toward the end of the year and into 2026. “Government bond issuance could gain pace in the coming months,” they said.

Mohammed Miandad VP, Chairman and Managing Director of 33 Holdings Global, has been named among Forbes Middle East’s Top Healthcare Leaders 2025 – Founders & Shareholders, making him one of the youngest Founder to feature in this year’s prestigious ranking. The recognition highlights his visionary leadership in transforming Middle Easts’ healthcare landscape through diversified innovation and international expansion.Ranked in the Founders & Shareholders category, Miandad represents a new generation of healthcare entrepreneurs driving regional excellence and global integration. Under his direction, 33 Holdings Global has built a robust healthcare investment footprint encompassing Naseem Healthcare, Medinova Healthcare, ABM4 Scientific, ABM4 Trading, and Dfine Dental Lab, together redefining accessibility, quality, and cross-border medical collaboration.In 2025, 33 Holdings Global continued its dynamic growth through strategic expansions. Its subsidiary ABM4 Scientific signed major agreements with leading pharmaceutical companies in Qatar, strengthening medical supply chains and research partnerships.Through Naseem Healthcare, the group launched its first ever guest mobile application in Qatar’s private healthcare sector, and a Super Specialty Surgical Center with inpatient facilities along with its fourth Super Specialty Centre in Al Khor, marking another leap in advanced healthcare and medical excellence.Miandad’s forward-thinking leadership extends across continents as he also serves as Managing Director of Medinova Healthcare in Africa and Director of Dfine Dental Lab in Qatar, contributing to global healthcare integration and technology-driven global service standards.Forbes Middle East’s Top Healthcare Leaders 2025 showcases the most influential founders and shareholders shaping the future of healthcare in the region. The selection acknowledges leadership impact, diversification, innovation, and sustainability, spotlighting professionals advancing the Middle East’s medical ecosystem into a new era of transformation.Miandad VP’s inclusion for the third consecutive year underscores not only his entrepreneurial achievements but also the growing global recognition of Qatar’s healthcare excellence on the world stage.

Alfardan Group, one of Qatar’s most distinguished family-owned conglomerates, has announced a strategic evolution of its corporate identity.As part of this transformation, local operations within Qatar will now be managed under the newly branded Alfardan Corporation while international operations will be consolidated under Alfardan International, marking a clear distinction between domestic and global business activities.This pivotal change comes as the company continues to build on its rich heritage while accelerating its regional and international expansion plans.The rebranding reinforces the company’s ambition to build on its longstanding legacy and position itself for future growth across diverse industries.“Our new identity reflects both where we come from and where we are headed,” said Omar Hussain Alfardan, Managing Director of Alfardan Corporation and Alfardan International.He added: “Alfardan Corporation and Alfardan International mark a new chapter in our journey - one rooted in tradition yet driven by excellence, innovation, and global partnerships”.Despite the change in name, Alfardan’s core values and dedication to the highest standards of service, quality, and integrity remain unchanged.Alfardan has built a strong reputation over the decades through its diverse portfolio, which includes jewellery, exchange, property, automotive and heavy machinery, hospitality, investment, marine services, medical, and agriculture.This transition aims to strengthen the company’s unified brand identity within Qatar while amplifying its position in international markets.Furthermore, all existing operations and contracts under Alfardan Group will continue without any impact on business activities, ensuring the same distinguished standards of quality and service that the Group has long been known for.The new company identity will be gradually introduced across all official platforms, marketing materials, and communications, with full implementation in October 2025.

The Foreign, Commonwealth and Development Office of the United Kingdom (FCDO) has called on the Israeli occupation authorities to halt settlement construction in the West Bank, including the E1 expansion plan. "Israeli annexation of the West Bank cannot be allowed to happen. We also repeat our calls on Israel to halt the expansion of illegal settlements, including the E1 plans, and act decisively against extremist settler violence," FCDO said in a statement. The statement stressed that the two-state solution remains the only viable path to peace.