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Doha: HE Minister of Foreign Affairs and Expatriates of the sisterly Republic of Yemen Dr. Shaya Zindani arrived in Doha today to participate in the joint ministerial consultative meeting between the Cooperation Council for the Arab States of the Gulf and the Republic of Yemen.
His Excellency was welcomed upon arrival at Hamad International Airport by HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi.
Source: Qatar News Agency
HE Consul General of the State of Qatar in Jeddah Rashid bin Saeed Al Khayarin opened today the clinics of the medical services unit of the Qatar Hajj Mission after they were accredited by the health authorities in the Kingdom of Saudi Arabia, in the presence of Deputy Head of the Qatar Hajj Mission Ali Sultan Al Musaifri, Head of the Unit Dr. Khaled Abdul Hadi, and a number of mission officials.
HE the Consul made an inspection tour of the medical services unit and its facilities, during which he was briefed on the clinic and the facilities provided by the mission to the pilgrims of the State of Qatar. He also heard an explanation from the head of the unit about the clinics’ specialties and equipment. The unit has clinics for men and others for women, in addition to an emergency department and rooms for observation and isolation for cases that require medical isolation whether at the mission’s headquarters in the Al Naseem neighborhood or in the holy sites in Mina, Arafat, and Muzdalifah.
Dr. Khaled Abdul
Hadi explained that the medical services unit has distinguished doctors, nurses, pharmacists, and paramedics, men and women, who were selected from among the most skilled medical personnel, in order to provide the best health care services and necessary medical aid in accordance with the highest standards. He praised the positive cooperation with the Saudi health authorities and facilities they provided to serve pilgrims and ensure their safety.
HE Consul General of the State of Qatar in Jeddah Rashid bin Saeed Al Khayarin expressed his happiness at the presence of a large number of medical personnel in all specialties, accompanying the Qatar Hajj Mission , who work around the clock in the clinics and are ready to provide all necessary health and pharmaceutical services for the country’s pilgrims.
His Excellency appreciated the efforts of HE Ghanem bin Shaheen Al Ghanim, the Minister of Endowments and Islamic Affairs and Head of the Qatar Hajj Mission, and his directives and continuous follow-up to provide
medical clinics equipped according to the highest health standards that will enable the medical services unit to render all services and health care and present all means that allow the pilgrims of the State of Qatar to perform the rituals easily.
He stressed that the Consulate of the State of Qatar in Jeddah continuously cooperates with the Qatar Hajj Mission to serve the country’s pilgrims and give all appropriate services to care for them, expressing his wishes that all pilgrims will return to the homeland safely after performing the Hajj rituals.
HE the Consul General of the State of Qatar in Jeddah noted the great efforts and facilities presented by the Saudi authorities to provide all services to the pilgrims to enable them to perform the religious obligation easily.
Source: Qatar News Agency
The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) has warned of the risk of diseases such as cholera spreading in the Gaza Strip.
During his visit to the German capital, Berlin, to garner more support for the organization, UNRWA Commissioner-General Philippe Lazzarini expressed concern about the risk of diseases such as cholera spreading in the Gaza Strip.
Lazzarini spoke today about the almost “hopeless” situation for the residents of the Gaza Strip, emphasizing the urgent need to address famine and the deteriorating situation in the south.
Lazzarini also voiced his concern about children in the region, stating, “We have around 600,000 school-age children in Gaza, and a top priority is getting them back to learning.”
Source: Qatar News Agency
Represented by HE Minister of Environment and Climate Change Dr. Abdullah bin Abdulaziz bin Turki Al Subaie, the State of Qatar partook in the High-Level Event on Ocean Action: Immersed in Change, held in the Republic of Costa Rica on June 7th and 8th.
HE Dr. Abdullah bin Abdulaziz bin Turki Al Subaie attended the first session of the High-Level Event on Ocean Action, which discussed the preparations leading up to the next UN Ocean Conference, to be held in the French Republic in June of 2025, as well as the escalating challenges facing the oceans, and the lack of international funding to achieve the 14th goal of the Sustainable Development Goals.
In his speech at the event, HE the Minister of Environment and Climate Change highlighted the State of Qatar’s efforts with regards to protecting the marine environment, preserving its biodiversity, and protecting it against pollution, adding that it does so through passing legislations, establishing marine reserves, as well as conducting research and studies, mon
itoring marine habitats and endangered species, in addition to raising environmental awareness.
In a related development, HE Minister of Environment and Climate Change Dr. Abdullah bin Abdulaziz bin Turki Al Subaie held a number of official meetings with heads of delegations participating in the High-Level Event on Ocean Action, these include: HE Head of the Delegation of the Kingdom of Saudi Arabia, Minister of State for Foreign Affairs, Cabinet Member, Saudi climate envoy Adel bin Ahmed Al Jubeir; HE Head of the Delegation of the French Republic, Minister of State for Marine Affairs Herve Berville; HE Head of the Delegation of the Federative Republic of Brazil, Secretary of Multilateral Political Affairs Carlos Marcio Cozendey; and HE Head of the Delegation of the Republic of Ecuador, Minister of Environment, Water, and Ecological Transition Sade Fritschi.
Source: Qatar News Agency
Doha: Qatar National Bank (QNB) expected a substantial increase in capital inflows to emerging markets in the coming quarters, provided that global financial conditions ease on the back of heightened confidence in the continued decline of inflation in the United States.
In its weekly commentary, QNB said, “We started the year with a constructive view for emerging markets (EM) in 2024. The US Federal Reserve’s (Fed) “dovish pivot” late last year, when forward guidance for rate cuts were first introduced, created a bullish investor sentiment globally. This, alongside resilient global growth and rapid disinflation, triggered a reversal of the risk-off market sentiment that had been prevailing in 2022 and part of 2023.
“The positive global macro backdrop pushed global capital towards EM. According to the Institute of International Finance (IIF), non-resident portfolio inflows to EM, which represent allocations from foreign investors into local public assets, experienced a significant shift from negative territo
ry to positive in late 2023. Such inflows led to a rally that is reflected in robust returns across different EM asset classes since their bottom in October 2023, including gains of 17.6 percent for equities (MSCI EM) and 13.9 percent for bonds (J.P. Morgan EMBI Global).
“Despite negative inflation surprises, strong capital inflows and robust returns continued even after expectations about the Fed “dovish pivot” were significantly revised. In fact, rate cut expectations for 2024 were downgraded from close to 200 basis points (bps) to less than 50 bps. Traditionally, an aggressive re-pricing of US yields like this would “suck” capital outside EM back into the US or other mature markets. However, this time has so far been different.
“In our view, three main factors sustain the relatively high capital inflows into EM even during a significant increase of US Treasury yields: the expected direction of growth differentials, the incipient global manufacturing recovery, and the overall improvement of EM macroeconom
ic imbalances, as well as their policy credibility.” The bank pointed out, “First, the period of unexpected US economic outperformance seems to be either moderating or turning around altogether. This is reflected by the recent moves in the Citi Economic Surprise Index, a timely figure that measures the pace at which economic indicators are coming in above or below consensus forecasts. Since early this year, for the first time in months, data surprises are getting more positive globally and less positive in the US, suggesting an incoming revision of growth projections that should favour EM versus the US. Stronger relative EM economic performance should drive additional foreign capital to EM.
“Second, manufacturing is expected to be more supportive to EM and the global economy excluding the US over the coming months. After an unusually deep and long “global manufacturing recession,” which has been in place since 2022, a positive turn towards an expansion has already started. The Global Manufacturing Purchasing
Manager’s Index (PMI), a timely indicator of whether activity is improving or deteriorating, has bottomed in July last year and improved thereafter. Activity has turned expansionary since February 2024. An expansion manufacturing cycle often gains momentum rapidly and lasts for about 1.5 years. This is expected to be supportive for EM, particularly in Factory Asia,’ where manufacturing represents a more significant share of GDP. This should amplify the adjustment in expectations for EM-US growth differentials, as manufacturing represents only about 10 percent of the US economy.
“Third, macroeconomic fundamentals are currently stronger in most EM. Several advanced economies have been accumulating acute imbalances from excessive policy stimulus following the pandemic and the Russo-Ukrainian conflict, leading to issues such as high public debt and inflationary pressures. In contrast, most EM countries have been conservative with their fiscal policy space, in order to prevent too much debt accumulation or increa
sing external vulnerability. Furthermore, EM central banks in countries with a history of chronic inflation, like Brazil and Mexico, faced pressures to pre-emptively implement interest rate hikes early in the cycle. This proactive approach was crucial in preventing inflation from spiralling out of control and maintaining macroeconomic stability. As a result, several EM countries have gained policy credibility, which increases the attractiveness of their markets.” The bank concluded, “All in all, capital inflows to EM have been resilient in the face of the aggressive re-pricing of US Treasury yields. This has been supported by an expected turn in expectations for US-EM growth differentials, the beginning of an expansionary global manufacturing cycle, and overall strong fundamentals. Should global financial conditions ease on the back of higher confidence in US inflation continuing to decline, the inflows to EM could even increase substantially over the coming quarters.”
Source: Qatar News Agency
Doha: The Qatar Chamber’s Insurance Committee held a meeting headed by HE Chairman of the Chamber’s Board of Directors and Chairman of the Committee, Sheikh Khalifa bin Jassim Al-Thani, in the presence of Director of the Insurance Supervision Department at the Qatar Central Bank (QCB) Sheikh Mohammed bin Ahmed bin Saif Al-Thani and a number of the QCB’s experts.
The meeting discussed several topics and challenges facing insurance companies, including compulsory insurance such as vehicle insurance, the role of insurance companies in compulsory health insurance for residents, the role of insurance brokerage companies in insurance work, matters related to digital insurance, electric car insurance, and other topics.
HE Sheikh Khalifa bin Jassim Al-Thani welcomed the attendees, praising the important role played by the QCB in regulating and developing the insurance sector in the country. He pointed out the importance of dealing with the changes that occurred in the insurance sector after the end of the FIFA Worl
d Cup Qatar 2022 and keeping pace with the future strategy of insurance companies to serve the direction of the Qatari market, especially the industrial and services sectors.
For his part, Sheikh Mohammed bin Ahmed bin Saif Al-Thani extended his gratitude to the Qatar Chamber for the fruitful cooperation and pointed to the QCB’s intention, according to the FSS3, to raise the insurance sector’s contribution to the gross product through the increase of the Gross Written Premium percentage to reach to 3.5 percent of the non-hydrocarbon sector, noting the cooperative approach that QCB adopted in the insurance sector, through conducting surveys for the insurance companies on several topics related to the insurance industry in the State of Qatar. However, the QCB is keen to consult with insurance companies and conduct the necessary studies to develop the insurance market.
Sheikh Mohammed bin Ahmed bin Saif Al-Thani expressed the importance of cooperation between insurance companies and the QCB to find the necessa
ry mechanisms to develop and promote the sector.
Source: Qatar News Agency