Doha To Be New Hub for Gas Exporting Countries

DailyTimesIndia.com Reports:

Moscow, Dec 24 (RIA Novosti) The headquarters of the
Gas Exporting Countries Forum (GECF) will be set up in Doha, the
capital of Qatar, the country’s deputy prime minister has said.

The world’s leading gas exporters that gathered here
for the 7th ministerial meeting Tuesday also considered St. Petersburg
and Tehran before selecting Doha.

‘It will be Doha,’ Qatar’s Vice-Premier Abdallah bin Hamad al-Attyia said.

Russia’s Energy Minister Sergei Shmatko confirmed the decision, adding that the next GECF meeting would take place in Qatar.

He said the participants approved the charter of the organisation,
but guidelines for cooperation will be specified during future
meetings.

Shmatko said the parties would decide on electing the secretary general of the organisation during the next meeting.

Established in Tehran in 2001, the forum currently involves Algeria,
Bolivia, Venezuela, Brunei, Egypt, Indonesia, Iran, Qatar, Libya,
Malaysia, Nigeria, Trinidad and Tobago, the United Arab Emirates and
Russia.

The countries represent about 73 percent of the world’s gas reserves and 42 percent of production.

Norway holds observer status, along with Equatorial Guinea, which applied for full membership during the meeting.

Read the entire article: DailyTimesIndia.com

Qatar Tourism Chiefs Eye Cruise Ships Move

Arabianbusiness.com reports:

by Andy Sambidge

Qatar National Day at Night

Qatar tourism chiefs have held talks with major cruise ship operators with a view to adding the Gulf state to their list of stopovers.

The Qatar Tourism and Exhibitions Authority is currently reviewing procedures for cruises lines to visit the country following meetings in Dubai.

Bahrain, Dubai and Oman are also interested in welcoming more cruise ships to their coasts in a bid to boost tourism trade.

Read the entire article here: Arabianbusiness.com

Qatar National Bank Unveils New Instant Dividend Payment Service

Cpifinancial.net reports:

QNB’s new dividend payment service offers customers the option of receiving dividends distributed by companies through the bank by transferring them directly to their QNB accounts.

Qatar National Bank (QNB) says once customers who are shareholders in any of the companies distributing dividends through the bank have registered for the service, their dividends will be deposited directly to their QNB accounts free of charge.

QNB lays claim to being one of the fastest growing banks in the MENA region. It has also been one of the most prolific arrangers and managers of IPOs in Qatar, having been involved in almost every IPO in the country since the inauguration of the Doha Securities Market (DSM) in 1997.

Read the entire Article here:  Cpifinancial.net

Qatar Airways Celebrates A Successful Year

News.Opodo.co.uk reports:

Qatar Airways has boosted its fleet with a new Boeing 777-300 extended range aircraft and said that the development represents the end of a successful year.

The new plane is Qatar Airways’ fifth Boeing 777 and will help the carrier increase capacity on its operations in south-east Asia.

Doha international airport hosted the arrival of the aircraft on 23 December following a long flight from Seattle. The plane will be used to operate flights between Doha and Manila in the Philippines from January 2009.

The Boeing 777 features 42 seats in business class and 293 economy spaces, as well as an Oryx inflight entertainment system.

Qatar Airways chief executive Akbar Al Baker said: ‘The arrival of the fifth Boeing 777 in Qatar Airways’ colours underlines the already strong and fruitful relationship that the carrier has with one of the world’s leading aircraft manufacturers.

‘Tuesday 23 December marked a day of celebration for the airline, its staff and all its loyal customers.’

Read the entire article here: News.Opodo.co.uk

Shard of Glass Gets Qatar Cash Injection

Business.Timesonline.co.uk reports:

Ambitious development including tallest tower in UK should be finished in 2012 after funding boost from Qatar

by Catherine Boyle

Construction on the Shard of Glass, planned to be the UK’s tallest building, will start in January after a last-minute funding boost from Qatari investors.

The substantial funds should be enough to ensure that the Shard is finished by 2012, despite rumours that it would never be built. It will be constructed during what is predicted to be hard times for the UK commercial property market.

Qatari Diar, the property development wing of the Qatar sovereign investment fund, has provided a funding facility for an undisclosed “substantial” sum to make sure the 310 metre high tower is built. It will take a seat on the board of LBQ, the consortium developing the Shard in exchange for its backing, and may become more involved in its development as it progresses.

LBQ is already 80 per cent owned by Qatari investors after Irving Sellar, the original developer of the tower, fell out with other original investors including Simon Halabi, the Iranian-born businessman.

Read the entire article here: Business.Timesonline.co.uk

Qatar Telecom Pushes Bid for Indostat

Ft.com reports:

Qatar Telecom announced on Wednesday it will proceed with a tender offer worth up to $870m to acquire a majority stake in Indonesia’s second largest mobile phone operator after Jakarta withdrew conditions on the deal.

QTel bought 40.8 per cent of Indosat for $1.8bn in August but has baulked at completing the compulsory tender offer after the Indonesian government insisted the Middle East operator sell off Indosat’s fixed-line assets within two years if it wanted to acquire more than 49 per cent of the company.

Sky’s broadband talks with Tiscali stall- Dec-23 D Telekom switches tack on broadband Under Indonesian law foreigners can only own 49 per cent of a fixed-line operator but can own up to 65 per cent of mobile operators.

QTel had claimed that since the vast majority of Indosat’s revenue is from the mobile sector it should be classified for ownership purposes as a mobile operator.

Jakarta backed down on Tuesday and QTel confirmed on Wednesday in a statement it would pay Rp7,388 (66.5 US cents) per share for up to an additional 24.8 per cent of the company.

It is not clear how many additional shares QTel will buy. In the past executives have only said they want a majority.

It would cost QTel, at the current rupiah-US dollar exchange rate, $331m to buy the 9.2 per cent required for a majority and $870m if it wants to own 65 per cent of Indosat.

Read the entire article here: Ft.com

Sorry All

Yesterday as you could tell I was only able to post a few articles.  Not exactly up to the minute news I know.  However, I was unusually busy at work.

I try to post a few articles at lunch or on a break but yesterday was just not one of those days.

Don’t worry I have a bunch of articles today so read and enjoy.
S.

Bahrain Rally’s to Beat Qatar in Volleyball Championships.

Congratulations to Qatar for making it to the Volleyball Championships round.  Good Job and I await when I can report that Qatar Wins Volleyball Champoinship.

Gulf-Daily-News.com reports:

BAHRAIN took a major step towards winning the 16th ART Arab Volleyball Champion- ship, following a precious 21-25, 25-19, 25-22, 23-25, 15-12 victory over contenders Qatar last night at the Juffair Youth Centre.

Star spikers Jassim Al Nabhan and Fadel Abbas helped the home side recover from a shaky start to bag their fourth successive victory and stayed on course towards winning their second Arab title.

Following this crucial win, the team were congratulated by General Organisation for Youth and Sports president Shaikh Fawaz bin Mohammed Al Khalifa who attended the match.

The Bahrainis, who lead this six-team round robin championship with eight points from four matches, will play their fifth and last match tonight against reigning champions and second-placers Tunisia in the title match.

If Bahrain win, they take the trophy. A defeat, however, will see both Bahrain and Tunisia end on an equal record, and the title will be decided on set points difference of each team.

Read the entire article here:  Gulf-Daily-News.com

Doha Bank to Sell Stake to Qatar SWF

Arabianbuisness.com reports: Doha Bank said on Monday shareholders had approved a plan to raise its capital by up to 20 percent in order to sell a stake to the Gulf state’s sovereign

Qatar SWF

wealth fund, the Qatar Investment Authority (QIA).

The shares would be issued at their closing price on Oct. 12, Doha Bank said in a statement on the bourse website. The shares closed at 42.7 riyals ($11.72) that day.  Doha Bank said the capital increase would take place in two stages.

Read the entire article at:  Arabianbuisness.com

This could be a great way to raise capitol.  Those of us that watch the Qatar Stock Market might want to keep a close eye on this.  There is the prospect of cashing.

Bad News for Qatar on Purchase of Kenya Land, Councilors Angry

Nation.co.ke reports:

Plans by the Government to lease out 40,000 hectares in the Tana Delta to Qatar continued to draw angry reactions, with area councillors threatening to sue. The Tana River councilors have said they will go to court to block the Government’s plans to lease the land to Qatar to grow food.

County council vice-chairman Gure Golo said the councilors opposed the project because local communities used the delta for livestock and farming. Mr Golo told the Nation by telephone that during drought, livestock owners from as far as Garissa, Wajir, Marsabit and other arid regions went to the delta for pastures and water.

More than 10,000 livestock farmers in Tana Delta District would be robbed of a livelihood if the Government went ahead with its plans, said the councilors.

“Since time immemorial the delta has been our lifeline because millions of our cattle and those from neighboring district use the wetland as a grazing zone as well as for watering of animals,” said Mr Golo.

He added: “The local authority gets more than 90 per cent of its revenue from the livestock sub-sector, so if the Government gives Qatar 100,000 acres of the delta land the council will be cash strapped.”  Tana River Pastoralists Community Association chairman Ali Wario said the group would soon hold a demonstration to protest against the Government’s plan.

Read the entire article at:  Nation.co.ke