Minister of Finance Chairs Joint Session of Annual Meetings of Arab Financial Institutions

HE Minister of Finance, Ali bin Ahmed Al Kuwari chaired the opening session of the annual joint meetings of Arab financial institutions, held in Cairo, the Arab Republic of Egypt.

During the opening speech, His Excellency emphasized the importance of…


HE Minister of Finance, Ali bin Ahmed Al Kuwari chaired the opening session of the annual joint meetings of Arab financial institutions, held in Cairo, the Arab Republic of Egypt.

During the opening speech, His Excellency emphasized the importance of the role played by joint Arab financial institutions in empowering Arab economies to confront the economic, social, and financial repercussions facing the world and the Arab region.

Additionally, the Minister of Finance also chaired the 47th Annual Meeting of the Board of Governors of the Arab Monetary Fund. During the session, the most significant regional and international economic developments were reviewed, along with the challenges facing the economies of Arab countries.

Furthermore, the Minister of Finance participated in the 53rd session of the Board of Governors of the Arab Fund for Economic and Social Development. During the meeting, the situations and activities of the Arab Fund for Economic and Social Development in 2023 were reviewed, along with it
s achievements in supporting development in Arab countries, aimed at assisting them in building a comprehensive and robust economic renaissance.

Source: Qatar News Agency

Minister of Finance Meets Egyptian, Sudanese Officials

HE Minister of Finance, Ali bin Ahmed Al Kuwari, met separately on Wednesday with HE Minister of Finance of the Republic of Sudan, Jibril Ibrahim; HE Minister of Finance of the Arab Republic of Egypt, Dr Mohamed Ahmed Maait; HE Minister of Planning an…


HE Minister of Finance, Ali bin Ahmed Al Kuwari, met separately on Wednesday with HE Minister of Finance of the Republic of Sudan, Jibril Ibrahim; HE Minister of Finance of the Arab Republic of Egypt, Dr Mohamed Ahmed Maait; HE Minister of Planning and Economic Development of the Arab Republic of Egypt, Dr Hala El Said.

The meetings came on the sidelines of HE Al Kuwari’s participation in the Annual Joint Meetings of Arab Financial Institutions in Cairo.

The meetings discussed ways to enhance the relations between the State of Qatar and the Republic of Sudan and the Arab Republic of Egypt in the key joint investment and financial areas, along with several topics of mutual interest.

Source: Qatar News Agency

Qatar Executive Welcomes World’s First Gulfstream G700 Aircraft to Doha

Doha: Qatar Executive (QE), the corporate jet subsidiary of Qatar Airways Group, has officially welcomed the delivery of two new Gulfstream G700 aircraft to the fleet, becoming the worldwide exclusive commercial operator of the aircraft.

In a press c…


Doha: Qatar Executive (QE), the corporate jet subsidiary of Qatar Airways Group, has officially welcomed the delivery of two new Gulfstream G700 aircraft to the fleet, becoming the worldwide exclusive commercial operator of the aircraft.

In a press conference on Wednesday, Qatar Airways Group Chief Executive Officer Engr. Badr Mohammed Al Meer said: “Today we welcome the industrys highest performance ultra-long-range business jet, Gulfstream G700 aircraft to the Qatar Executive fleet.” “We are proud to enhance our existing fleet of 15 Gulfstream G650ER aircraft to include the pinnacle of business aviation excellence and look forward to seeing our guests on board soon to experience this technologically advanced aircraft.” President of Gulfstream Mark Burns said: “Qatar Executive has been a valued Gulfstream customer for nearly 10 years. We are honored to have them as our international partner for the launch and first deliveries of the all-new G700. We look forward to growing their fleet in the months ahead. Q
atar Airways Group confirmed that the G700 represents the future of private air travel, offering a superior flying experience with unrivaled design, technology, comfort, and style. The aircraft offers an exceptionally spacious passenger cabin consisting of four individual living areas including a dedicated private rear stateroom with a permanent fixed bed.

Qatar Airways Group pointed out that the bespoke cabins have been designed and meticulously crafted to meet the standards of Qatar Executives most discerning customers. The passenger experience has been augmented to include a revolutionary lighting system, the industrys lowest cabin pressure altitude, and natural lighting through 20 windows. The G700 also prioritizes passengers comfort with a whisper-quiet cabin, along with 100 percent fresh air replenished every two to three minutes, and an ionizing system for the cabin air, providing the highest air quality possible to date in a business jet. This innovation ensures passengers arrive more refreshed than
with any other aircraft type.

Qatar Airways said that the G700 would also be on display at the upcoming 2024 European Business Aviation Convention and Exhibition (EBACE2024) Europes premier on-demand aviation and advanced air mobility event, taking place in Geneva, Switzerland from 28-30 May 2024.

Qatar Executive expects an additional eight G700 to be delivered in the near future, with two aircraft already received and two more set to arrive within weeks. The new G700 fleet will enter full commercial service in June, and QE is already taking advance expressions of interest from clients to charter the new aircraft.

Source: Qatar News Agency

Will the strong US dollar start to lose upward momentum?

Will the strong US dollar start to lose upward momentum?

The factors supporting the strong momentum of the US dollar have gradually weakened this year. The US Dollar Index (DXY) fell to 105 points during this week’s trading after failing to breach th…


Will the strong US dollar start to lose upward momentum?

The factors supporting the strong momentum of the US dollar have gradually weakened this year. The US Dollar Index (DXY) fell to 105 points during this week’s trading after failing to breach the 106.5 point level in recent weeks. Despite this, the US dollar remains high since… The beginning of the year increased by more than 3.5%, supported by the US economy remaining strong and the Federal Reserve’s adherence to its strict stance towards interest rates, which increases the attractiveness of the dollar, but there are many challenges facing the performance of the US currency in the coming period.

1. The American economy is no longer overheated

The annual GDP growth rate in the first quarter was only 1.6%, which is the worst quarter since the technical recession in the first half of 2022, which negatively affected the US dollar in the currency trading market . In April, both the ISM services and manufacturing index recorded a reading of less than 50.
point, indicating that the economy may slow in the second quarter of 2024. The US consumer confidence index fell for the third straight month in April, reaching 97, the lowest level since July 2022.

2. The labor market in the United States is tight

New employment in the non-farm sector fell to 175,000 jobs in April from 315,000 jobs in March, falling below 200,000 for the first time in the past five months, and the annual growth rate of average hourly wages slowed in April to 3.9% for the third month in a row. This is the first time since June 2021 that it has fallen below 4%.

The ISM service sector employment index fell to 45.9 points in April, below 50 for the third month in a row, and the employment data released last Friday (May 3) led to a decline in the yield of 10-year US Treasury bonds to below 4.6%, recording the lowest… level since April 9, and interest rate futures once again reflected expectations of a rate cut by the Federal Reserve in September.

3. The slowdown in inflation has stopped

Al
though the inflation slowdown in the United States has stalled, it is not enough for the Fed to abandon its dovish stance. At the Federal Open Market Committee (FOMC) press conference after the meeting on May 1, Chairman Powell stated that the next interest rate adjustment from… It is unlikely to be a rate hike.

The core PCE index rose 2.8% annually in March, which is down from a high of 5.6% in February 2022 and is approaching the Fed’s forecast of 2.6% in the fourth quarter of 2024. Therefore, inflation data may prevent a decline in the dollar index. Below the 50-day moving average (at around 104.56) next week.

The most important factors affecting the US dollar

The US dollar is variable and multiple factors can change the value of this currency. Being aware of these factors helps you make better decisions and prepare to make a profit in different financial markets. Below are the most important factors that can affect the US dollar.

1. Interest rate

One of the most important factors that affect the US
dollar is the interest rate set by the Federal Reserve Bank. A higher interest rate means an increase in the value of the US dollar as the price of money becomes more expensive. A lower interest rate means that the rate of lending or borrowing is cheaper, which reduces the value of the dollar, because This is a very important indicator that you should keep in mind so that you can see the path of the US dollar.

2. Economic growth rate

The most important indicator for any economy is the economic growth rate. A higher rate will increase the value of that national currency and a lower growth rate will reduce its value.

If the US economic growth rate increases, this is a positive signal that can increase the demand for the US dollar and grow its value. If the opposite scenario occurs, this will be a negative signal for the economy and can reduce the value of the economy, and even expectations about the US economy can change the price of the US dollar.

3. Inflation rate

The inflation rate is the average rate o
f prices of various products in the economy and services, and it is a very important indicator. A high inflation rate is a bad signal for the economy as it leads to higher prices and a decrease in the value of the national currency. However, a low inflation rate has a completely opposite effect to the scenario mentioned above, as it leads to an increase in the value of the national currency. The national currency because this is a positive signal for the economy.

Changes in the US inflation rate are a very important indicator that can change the value of the US dollar. A high inflation rate is a negative signal for the US dollar, while a low inflation rate is a positive signal for the US economy, which raises the value and price of the US dollar.

4. Unemployment rate

The unemployment rate is the number of all people aged 15 to 65 who have no job while they are actively searching for a job.

If the unemployment rate in the US economy increases it means that more people are out of work, which is a negative s
ignal for the economy that also shows slowing growth which will lead to a decline in the value of the US dollar.

Now if the unemployment rate decreases this indicates that the economy is growing and doing very well, it will benefit the entire society and the demand and value of the US dollar will continue to rise.

5. New monthly jobs

New jobs are one of the most important indicators of the American economy. The growth of new jobs monthly means that the economy is growing and can absorb the human resources of the economy very well, which is a positive indicator that will increase the value of the US dollar in the world.

The same is true when new job creation declines, and investors and economic activists see it as a bad signal that will devalue the US dollar.

6. Geopolitical tensions

There are more geopolitical tensions than ever before in the world, and for 2024 these tensions will continue to rise as there are many new powers in the world competing for more resources in the world.

Any geopolitical ten
sion is very good for the value of the US dollar because that will increase the demand for the national currency of the United States, as all people want to convert their money into US dollars because the US economy is the largest economy in the world and therefore it is a very safe place to put money.

7. Wars in the world

War means uncertainty, and it causes people to leave war zones and migrate to better and safer places, and since the United States is the most powerful country in the world and has the largest economy, it is the safest place to transfer capital and the best place to immigrate as well.

Any serious war in the world will cause the value of the US dollar to rise and the demand for this currency will continue to rise.

8. Retail sales

Retail sales show how consumers spend, so an increase in retail sales means that consumers are spending more and this is a very good sign for the economy, and if retail sales decrease, this is a negative indicator for the economy that indicates there is a probl
em within the economy.

Source: Maan News Agency

MoCI Discusses Challenges Facing Logistic Services Sector

Doha: The Ministry of Commerce and Industry (MoCI) organized a roundtable discussion with several logistics companies to discuss the main challenges facing the logistic services sector and find solutions that will help develop it.

Assistant Undersecr…


Doha: The Ministry of Commerce and Industry (MoCI) organized a roundtable discussion with several logistics companies to discuss the main challenges facing the logistic services sector and find solutions that will help develop it.

Assistant Undersecretary for Industry and Business Development Affairs Saleh bin Majid Al Khulaifi participated in the meeting.

A statement by the MoCI today stated that this session is one of a series of meetings held by MoCI with the private sector in aim of discussing and evaluating the obstacles facing a number of major sectors in the country, one of which is the logistic services sector, within the framework of its keenness to support these sectors and provide all means of support to companies operating in them, facilitate current procedures, learn about the most important global practices, and come up with appropriate solutions for a suitable business environment in the State of Qatar.

The meeting addressed several topics, including the most prominent challenges faced by co
mpanies operating in the logistics services sector, the impact of that on regional expansion efforts, the impact of current laws, regulations and customs procedures on logistics operations, the regulatory changes that will benefit the logistics sector, and how to benefit from partnerships between the public and private sectors to improve the logistics services sector in Qatar. It also discussed the obstacles to obtaining skilled workers, the strategies that can be applied to address this deficiency, the technologies that should be given priority to enhance the efficiency of the sector, and the ease of access to and use of commercial platforms such as trade facilitation systems and shipping platforms within the country.

MoCI’s most prominent projects and initiatives to advance the logistics services sector were also highlighted, in addition to reviewing a number of proposals to support the success of projects and reduce these challenges.

Source: Qatar News Agency

Western warnings of an economic catastrophe in the West Bank

London – Ma’an – Western officials warned of an “economic catastrophe” in the West Bank if the occupation does not renew “a vital exemption that Israeli banks need in order to maintain their relations with their Palestinian counterparts.”

The British…


London – Ma’an – Western officials warned of an “economic catastrophe” in the West Bank if the occupation does not renew “a vital exemption that Israeli banks need in order to maintain their relations with their Palestinian counterparts.”

The British newspaper “Financial Times” reported that this exemption, which expires on July 1, “allows the payment of the costs of vital services and salaries associated with the Palestinian Authority, and facilitates the import of basic materials,” such as food, water, and electricity, into the occupied Palestinian territories.

Without this exemption, Israeli banks will stop dealing with Palestinian financial institutions, and the Palestinian economy will effectively stop over time, according to three Western officials.

The newspaper quoted an American official as saying that not renewing the exemption ‘will not only be at the expense of Palestinian interests, but also at the expense of the security and stability of Israel and the region.’

It also quoted two other Weste
rn officials as saying that Washington is leading the efforts aimed at renewing the exemption, as it ‘appealed to its allies to exert pressure on the Israeli government.’

British officials said the United Kingdom was ‘also concerned’ about this issue, according to the Financial Times.

This issue is expected to be discussed at the G7 finance ministers’ meeting, expected later this week in Italy, according to officials.

The newspaper explained that the Palestinian economy trades with other economies in multiple currencies, including the Jordanian dinar, which is widely used in the West Bank.

The Palestinian economy operates with the Israeli shekel, so Palestinian financial institutions must pass through the Bank of Israel and other Israeli banks in order to access it.

Source: Maan News Agency