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| finance & economy |
Qatar’s Al Kharsaah Solar Power Plant will reduce 26 million tonnes of CO2
January 20, 2020
Qatar’s ambitious Al Kharsaah Large-Scale Solar PV Power Plant, which is to be built at an estimated cost of QR1.7bn, will be reducing 26 million tonnes of CO2 during the project’s life time. The upcoming project is being established in collaboration with Qatari, French and Japanese companies. Once the first phase is operational by early 2021, Qatar General Electricity and Water Corporation (Kahramaa) will buy electricity from Siraj1,"...
In-Depth: Trade deal fails to ignite commodity
January 20, 2020
Commodities with the exception of metals struggled to get excited about the phase 1 US China trade deal. Questions regarding China’s ability to buy the stipulated quantities of agriculture products added some downside pressure to grains. The energy sector was weighed down by ample supply as geopolitical risks continued to fade. 19 January 2020: While global stocks, led by the US technology sector, continued their ascent, the first two weeks"...
Qatar’s industrial production falls 2.5% as mining output declines
January 20, 2020
Qatar’s industrial production in December declined 2.5 percent from November, mostly due to a fall in the mining output, which includes oil and gas production.
According to the Planning and Statistics Authority (PSA), the key Industrial Production Index stood at 101.4 points in December, down 3.8 percent from a year ago.
The mining component of the index, which has a relative weightage of 83.6 percent, showed a decline of 2 percent month-on-month and 3.8 percent year- on- year.
The M-o-M fall in mining"...
Qatar signs deal to build world’s biggest single-phase solar plant
January 20, 2020
Qatar’s Siraj Energy has signed an agreement with France’s Total and Japan’s Marubeni to build world’s biggest single-phase solar power plant in Qatar. Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani witnessed the ceremony on Sunday.
To be developed with a cost of QR1.7 billion, the large-scale solar PV power plant will be constructed at Al-Kharsaah area, west of Doha, on a 10 square kilometre land plot.
The solar power project will have the capacity"...
Royal Decree appoints Fahd Al-Rasheed President of the Royal Commission for Riyadh City
January 20, 2020
Saudi Arabia’s King Salman Bin Abdul Aziz Al Saud has appointed Fahd Abdulmohsan Al-Rasheed as President of the Royal Commission for Riyadh City (RCRC), following his appointment in 2018 as Advisor at the Royal Court. Al-Rasheed’s career has featured various leadership roles in key Saudi public and private sector organizations. From January 2008 to September 2018, he served as Chief Executive Officer and Board member of Emaar the Economic"...
Arzan Wealth Achieves Successful Exit of a Class A Office Building In The Netherlands
January 20, 2020
Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has successfully advised its client on the sale of a Class A office building in the Hague, The Netherlands, achieving strong returns for investors. The property was built in 2000 and serves as the headquarters of the Netherlands Organization for Scientific Research (NWO), a unit"...
Moody’s Analytics ImpairmentStudio™ Platform Completes 2019 SOC 1® Examination
January 20, 2020
Moody’s Analytics announced today that the ImpairmentStudio platform—the centerpiece of our Current Expected Credit Loss (CECL) solution—has completed a System and Organization Controls (SOC 1) Type 2 examination under the attestation standards established by the American Institute of Certified Public Accountants (AICPA). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200115005159/en/ The report examination encompasses policies, operating procedures, and controls related to financial reporting of user entities by an independent auditor to objectively validate that the service organization meets its declared control objectives. Built on the latest cloud-based technology, the ImpairmentStudio platform allows users to automate and simplify the complex processes required to meet the CECL accounting standard. This......
Young techpreneurs to pitch ideas at AIA closing ceremony
January 19, 2020
Top ten teams of the third Arab Innovation Academy (AIA) will present their business ideas during the closing ceremony to impress investors at Qatar Science and Technology Park (QSTP), tomorrow. Some 190 students were accepted to participate in AIA 2020. The participants were grouped into 30 teams, and they underwent a unique accelerated mode of experiential learning to help them turn an idea into a startup in only 10 days. The"...
Ministry of Commerce & Industry, QBA to set up Joint Follow-up Committee
January 19, 2020
Doha: The Ministry of Commerce and Industry (MoCI) and the Qatari Businessmen Association (QBA) will establish a Joint Follow-up Committee, which will serve as a direct communication channel to discuss economic initiatives between both sides, and to facilitate joint cooperation in the implementation of programmes and initiatives undertaken by the Ministry and its proper delivery to the business community, it was announced yesterday. The Joint Follow-up"...
Sharp jump in Qatar-US monthly trade volume
January 19, 2020
Doha: The Qatar-US monthly trade exchange witnessed a remarkable growth in November 2019. The bilateral trade volume in goods between the two countries reached at $849.5m (QR3.09bn) in November, registering a sharp jump of over 111 percent compared to $401.6m (QR1.46bn) in the previous month (October 2019), latest official data show. The combined value of Qatar-US trade exchange during the first 11 months of 2019 (January-November) amounted to QR24.34bn"...
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