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    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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    Africa: From Food Importer to Global Powerhouse

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    Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

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    Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

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    Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

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    Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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      Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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      Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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      Oman Advances Vision 2040 with 95% of Strategic Programs Underway

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        Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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        Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

        Oman Awards Over $600 Million in Contracts for Tourism Expansion

        Oman Awards Over $600 Million in Contracts for Tourism Expansion

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        Baghdad Metro Project Moves Forward Under New Implementation Strategy

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        Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

        Deal Signed to Build Bahla Cultural Center Facility in Oman

        Deal Signed to Build Bahla Cultural Center Facility in Oman

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        Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

        Iraq Approves 5,000-Unit Housing Project in Basra

        Iraq Approves 5,000-Unit Housing Project in Basra

        AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

        AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

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          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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          Oman Seeks Bids for Two Major Substation Projects

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Iraq Aims for 12 GW of Renewable Energy by 2030

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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            Qatar’s Health Spending Set to Climb 14% by 2029

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            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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            Qatar and the UK Explore Deeper Cooperation in Healthcare

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            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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              Oman Awards Over $600 Million in Contracts for Tourism Expansion

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              Qatar Expands Role as a Leading Global Tourism Destination

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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              Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

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              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

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              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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                Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

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                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

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                Printed Packaging Labels & Release Liners Set for Strong Global Growth

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                  Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                    Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

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                    Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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                      Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

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                      Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

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                      Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                        Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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                        Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                        Oman Advances Vision 2040 with 95% of Strategic Programs Underway

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                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                          Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

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                          Oman Awards Over $600 Million in Contracts for Tourism Expansion

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                          Baghdad Metro Project Moves Forward Under New Implementation Strategy

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                          Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

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                          Deal Signed to Build Bahla Cultural Center Facility in Oman

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                          Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

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                          Iraq Approves 5,000-Unit Housing Project in Basra

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                          AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq Aims for 12 GW of Renewable Energy by 2030

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

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                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

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                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

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                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                                      Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

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                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                                      Home Business & Economy Business

                                      Qatar’s insurance companies tap into construction and infrastructure sectors

                                      OBG

                                      September 26, 2012
                                      in Business, Infrastructure
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                                      While the insurance sector continues to expand and post solid profits, Qatar’s policy writers are looking to improve profit margins by tapping into potential for further growth, particularly in construction and infrastructure insurance.

                                      All five of Qatar’s domestic policy writers reported profits in the first half of the year, though two suffered a net earnings slip between January and July, due to a combination of lower revenue from investments and a dip in premium income.

                                      The country’s largest insurer, the Qatar Insurance Company (QIC), saw declines in core earnings cut into its net profits

                                      The country’s largest insurer, both in terms of policies written and revenue, the Qatar Insurance Company (QIC), saw declines in core earnings cut into its net profits, which dropped 11% to QR302.76m ($83.07m) in the first half of the year, mainly due to payouts on special claims related to catastrophes, such as a fire at Villagio Mall, the company said. The QIC recorded a slight increase in net premiums, up by just under 0.3% to QR828.89m ($227.47m), while claims soared by 16% to QR662.9m ($181.92m), balanced by a 29% rise in investment earnings.

                                      Doha Insurance Company also put in a solid performance in the opening half of 2012, posting net profits of QR41.4m ($11.36m), up from the QR37.5m ($10.29m) in the same period in 2011.

                                      Meanwhile, the Qatar General Insurance and Reinsurance Company (QGIRC) reported a drop in revenue, though the firm was far from moving into the red. It saw net profits of QR67.5m ($18.52m) in the first six months of the year, compared with QR76.2m ($20.91m) in the first half of 2011, a retreat of 11%.

                                      At the end of July, the Qatar Islamic Insurance Company (QIIC) announced a 4.5% increase in profits

                                      In its first-half results, issued at the end of July, the Qatar Islamic Insurance Company (QIIC) announced a 4.5% increase in profits to QR34.84m ($9.56m), coming on the back of total revenue of QR42.5m ($11.66m) and offset by expenses of QR10.89m ($2.99m). Though profits were up, the QIIC reported that its contributions fell 5% to QR57.16m ($15.69m), while claims had jumped to QR47.33m ($12.99m), with much of the firm’s profits coming from investments.
                                      The country’s other Islamic insurer, Al Khaleej Takaful, notified the Qatar Exchange on August 1 that it recorded a modest improvement in profits, QR59m ($16.19m), for the first half of 2012 compared to the QR57m ($15.64m) for the opening six months of the previous year.

                                      The country’s insurance sector grew by an average of 12% annually between 2006 and 2010

                                      According to the Qatar Financial Centre Authority (QFCA), premiums for the country’s insurance sector grew by an average of 12% annually between 2006 and 2010, with total written premiums over $1bn.

                                      While these growth figures are strong, and indeed would be the envy of many insurers in other countries, they do lag behind the overall rate of expansion of the economy, which saw GDP increase by an average of 13% between 2007 and 2011.

                                      The overall penetration rate stood at 0.94% of the country’s GDP in 2009, com- pared to a global average of 6.9%. This does suggest that while the industry is still working to raise its profile among clients, both private and corporate, it needs to do more to achieve the success many industry players believe is possible.

                                      One such firm is Qatar Holding, one of the investment vehicles of the country’s sovereign wealth fund, the Qatar Investment Authority (QIA). Qatar Holding is currently looking to lift its stake in the QIC from the present level of 12%.

                                      In a communiqué issued to the Qatar Exchange in early August, the QIC said that Qatar Holding had expressed interest in buying further shares in the company and that initial steps had been taken, though no details were given as to what extent Qatar Holding wanted to buy into the insurer.

                                      With an estimated $140bn of infrastructure work to be carried out through to the end of 2015, and more in the years leading up to the 2022 World Cup, demand for insurance products is expected to rise sharply

                                      This bid could be a reflection on forward projections for the insurance sector. With an estimated $140bn of infrastructure work to be carried out through to the end of 2015, and more in the years leading up to the 2022 World Cup, demand for insurance products is expected to rise sharply, including for specialty segments related to construction.

                                      By raising its stake in the QIC, Qatar Holding may be looking to buy in before the anticipated period of growth.
                                      The coming months will tell whether other investors will seek to enter into the insurance sector − a move that could bolster the QIC’s competitors − or whether the market leader will further strengthen its position at the head of the pack.
                                      Oxford Business Group
                                      25 September

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