Qatar’s food production industry accounts for only about 7% of the country’s domestic consumption, a new report said yesterday highlighting its dependence on food imports for local needs.

In 2010, Qatar produced 0.1mn tonnes of foods across categories, the GCC food industry report said yesterday.

“Qatar is an important business hub in the GCC. Qatar is more affluent compared to other member countries in GCC with the highest per capita income. With an enviable economic outlook and growing private consumption, food consumption in Qatar is forecast to grow at a  compound annual growth rate (CAGR) of 5% up to… Continue reading →

Artist’s impression of the Porta Nuova project in Milan

Qatar Holding has announced that it will acquire a 40 percent stake in a $2.56bn mixed used real estate project in Milan, Italy. In a statement, Qatar Holding and Hines Italia SGR announced a strategic partnership for the Porta Nuova project, managed by Hines Italia SGR.

Porta Nuova represents one of the most prestigious city centre mixed use developments in Europe with a market value in excess of €2bn.

The project is transforming the city of Milan by creating a new central district. The central building of Porta Nuova Garibaldi,… Continue reading →

Benefiting from Qatar’s large public spending programme on the back of higher energy prices and increased gas production, local banks have seen huge asset gains with a 20% compounded annual growth rate (CAGR) in one year up to March, a new study has shown.

The country’s banking system had seen similar asset gains with a 20% CAGR between March 2008 and March 2012, QNB said in its soon to be published “Qatar Economic Insight 2013”.

Total banking assets to GDP increased from 97% in 2008 to 117% in 2012. This is higher than the GCC average of 93%, but… Continue reading →

The Educate A Child (EAC) programme has officially announced two new worldwide partners, Qatar Airways and Jazz at Lincoln Centre, both of which will seek to raise awareness about the initiative and its objectives. The announcement was made at a press conference in New York recently.

Mohamed al-Naimi, Jazz at Lincoln Centre executive director Greg Scholl, Akbar al-Baker, Marcio Barbosa, Dr Tidu Maini and Robert Appel in New York.

Qatar Airways has pledged to provide food, cargo and personal transport services for the programme and also promote awareness of the EAC and the plight of 61mn out-of-school… Continue reading →

Greece’s prime minister Antonis Samaras, left, gestures as he talks to China’s premier Li Keqiang during a signing ceremony at the Great Hall of the People in Beijing

Greek Prime Minister Antonis Samaras promised to give the “red-carpet treatment” to foreign investors as he visited China to help revive an economy that contracted for the 19th straight quarter.

Leading a delegation of business leaders from companies including Alpha Bank SA (ALPHA), Gaea Products SA and Dynagas Ltd., Samaras told a business forum that China should see Greece as a gateway to investment in the rest of … Continue reading →