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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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      Turkey eyes $5bn bilateral trade with Qatar

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      Iraq set to award new Faw Port deals

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      Miral’s premier Abu Dhabi waterfront project work on track

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE sends medical aid to Iraq to fight COVID-19

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                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Qatar's GDP growth expected to reach 7% in 2015

              The Peninsula

              February 4, 2015
              in Economy, Finance
              0

              Qatar's GDP growth in 2015 is expected to reach seven percent, with a stable annual inflation rate of three percent, H E Ali Sherif Al Emadi, Minister of Finance said.

              He noted that in past years, Qatar has often made very conservative financial policy, saying the oil price in the current budget is $65 per barrel, He added that Qatar sold oil at an average of $85 per barrel since the start of the year. The finance minister, who is also the Chairman of Qatar National Bank (QNB Group) Board of Directors, said on the sidelines of the Bank's Ordinary General Assembly meeting: "Our financial position is very strong, and we expect to realize more profits in 2015," in his reply about the possible impact of dwindling oil prices on the QNB's project financing portfolio.

              The General Assembly of QNB ratified all items on its agenda, including the proposal to distribute a cash dividend of 75 percent of the nominal share value (representing QR7.5 per share).

              QNB Group last year recorded a robust growth in its profitability posting a full-year net profit of QR10.5bn ($2.88bn) for 2014, up by 10.3 percent compared to 2013, and total assets increased by 9.7 percent to reach QR486bn.

              "It was a historic year for QNB Group when we managed to realize more than QR10bn profits. We expanded our operations in Africa, and currently we are operating in 26 countries in the world. However, the bank is exploring new opportunities for investment and acquisition," said the Bank's Chairman.

              He also said that the Group earned a significant QR2.9bn profit (over 28 percent of the total) from its overseas operations. However, he noted that Qatar will continue to remain as the most important market and get the highest focus of the bank followed by GCC and African markets.

              On the issue of non-performing loans (NPLs) he said that QNB's NPL ratio was 1.6 percent, which was lower than the two percent general average of banks operating in Qatar.

              While on the bank's capital adequacy ratio he highlighted that it was 14 percent higher than the required ratio, and the Bank is ready to implement Basel norms.

              The meeting also approved the appointment of Ernst & Young as External Auditors for the year 2015 in yesterday's meeting.

              The Chairman said QNB Group's success in maintaining momentum across all its activities was reflected in the strong 2014 financial results. Driven by the dual considerations of on-going domestic and international expansion along with the continuing adoption of a prudent approach to risk management, QNB had established its position as one of the World's Strongest Banks and re-affirmed its status as the leading financial institution in the Mena region.

              He also provided an overview of the Bank's business plans for 2015.

              Retaining its leading position through the continued diversification of income sources and expanding the range of product offerings' across the QNB Group was of primary focus. The continued ability to meet shareholders' expectations remained a core consideration for 2015.
              The Peninsula
              4 February

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