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Saturday, 25 May 2013

QInvest strengthens its Investment Banking Team

QInvest strengthens its Investment Banking Team
Qatar’s leading investment bank, QInvest, announced the appointment of Mr. Nasser Abdullah Al Mahmoud as Director with the Investment Banking team. Commenting on his appointment, Mr. Tamim Hamad Al-Kawari, QInvest’s CEO, said: “We would like to take this opportunity to welcome Nasser to our investment banking team. His experience and knowledge will strengthen our capabilities in...

QNB Group acquires additional stake in the share capital of Tunisian Qatari Bank

QNB Group acquires additional stake in the share capital of Tunisian Qatari Bank
QNB Group announced that it has acquired an additional 49.96% stake in the share capital of the Tunisian Qatari Bank, thus raising its total shareholding to 99.96%, effective the moment the Group receives the required approvals of the regulatory authorities in the Republic of Tunisia Republic and the State of Qatar. The Tunisian Qatari Bank was established in 1982 as the first...

QNB Group to acquire Société Générale’s stake in NSGB – Egypt

QNB Group to acquire Société Générale’s stake in NSGB – Egypt
QNB Group, the largest financial institution in the State of Qatar and the MENA region, announced that it has entered into a definitive agreement with Société Générale for the acquisition of its entire stake of 77.17% in National Société Générale Bank – Egypt (NSGB). Subject to receipt of required regulatory approvals, QNB Group will launch a mandatory tender offer (MTO) for...

QNB Group announces the successful completion of its US$1.0 billion bond

QNB Group announces the successful completion of its US$1.0 billion bond
QNB Group announced the successful completion of a bond issuance under its Euro Medium Term Note (EMTN) Program in the international capital markets. Under this program, a US$1.0 billion tranche was issued on November 7, 2012 that matures in February 2018 with a coupon rate of 2.125%. This rate is the lowest in the history for bonds issued by financial institutions in the region. The...

QNB receives Best Bank in Qatar Award from Euromoney

QNB receives Best Bank in Qatar Award from Euromoney
Qatar National Bank (QNB) the largest financial institution in Qatar and in the Gulf has been the recipient of the Best Bank in Qatar award by Euromoney. This is the 9th time that QNB has been selected for this industry recognised award, highlighting the bank’s consistent leading position and strong performances across all economic sectors. The award ceremony took place in Dubai on...

QNB Group increases its stake in Mansour Bank in Iraq to 51%

QNB Group increases its stake in Mansour Bank in Iraq to 51%
Qatar National Bank (QNB) Group announced that it has obtained the approval of the Central Bank of Iraq to increase its stake in Mansour Bank in Iraq from 23% to 51%. As a result of this stake increase, QNB Group will augment its representation on the Mansour Bank’s Board of Directors in proportion to its ownership. In accordance with the memorandum of understanding, signed between...

QNB Group acquires a stake of the Bank of Commerce and Development in Libya

QNB Group acquires a stake of the Bank of Commerce and Development in Libya
Qatar National Bank (QNB) Group has announced acquisition of a 49% stake in the Bank of Commerce and Development, one of the leading private banks in the Libyan financial sector. The announcement was made during the extraordinary general assembly of the Bank of Commerce and Development which was held in Benghazi, Libya on Thursday April 12th 2012. It approved QNB Group as a strategic...

QNB Capital: A healthier US economy is good for the GCC

QNB Capital: A healthier US economy is good for the GCC
The economic outlook in the US continues to broadly show signs of improvement, which is positive news for the GCC economy, according to analysis from QNB Capital. After a generally gloomy second half of 2011, key indicators in the US have been improving in recent months. This has boosted stock markets and, during late February and early March, the benchmark Dow Jones Industrial Average...

QNB Capital: GCC oil and gas reserves worth around US$65trn

QNB Capital: GCC oil and gas reserves worth around US$65trn
The GCC’s hydrocarbon reserves are estimated to be worth around US$65trn at current export prices, based on new analysis from QNB Capital. This is almost a third of the $200trn value of world oil and gas reserves. To put US$65trn in context, it is equivalent to 47 times the GCC’s estimated GDP in 2011, or 93% of global GDP. It is also 125 times the estimated US$521bn that the...

QNB Capital: GCC sovereign ratings are closing the gap on advanced economies

QNB Capital: GCC sovereign ratings are closing the gap on advanced economies
Sovereign credit ratings in the GCC are in the upper tiers of investment grade and are on a par with most advanced economies. In the region, Qatar, Kuwait and the UAE have the joint-highest ratings from the major ratings agencies, according to analysis from QNB Capital. Long-Term Sovereign Credit Ratings: Rating agencies utilise a similar approach when assigning a sovereign rating,...

Non-hydrocarbons sectors will be the dominant driver of Qatar’s GDP growth by 2013

Non-hydrocarbons sectors will be the dominant driver of Qatar’s GDP growth by 2013
QNB Capital estimates that Qatar’s nominal GDP reached QR 628bn (US$172bn) in 2011. This equates to 0.25% of global GDP and 12.5% of GDP in the GCC. Qatar’s share of global and regional GDP has risen from 0.2% and 11.8% in 2010, respectively. This is a consequence of exceptionally fast nominal GDP growth of around 48.6% in Qatar’s oil and gas sector in 2011, which has led to...

Qatar Real Estate sector receives optimistic forecasts

Qatar Real Estate sector receives optimistic forecasts
Qatar’s real estate sector is expected to continue the last year’s trend with most forecasts projecting optimism and a steady progress in 2012, according to an industry report. Citing Doha-based property consultancy Asteco report, Oxford Business Group (OBG) said, there are concerns that oversupply in some segments could keep prices down in the short term as the flow of new...