Day: 5 October 2024

Doha: The Qatar Chamber and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) agreed to establish a joint business council and hold its first meeting with all its members in Kathmandu, the capital of Nepal, in the near future.

This agreement was reached during a meeting between HE Chairman of the Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani, and HE President of the FNCCI Chandra Prasad Dhakal.

During the meeting, they discussed commercial and economic cooperation between the two sides and discussed ways to enhance it. The investment climate and available investment opportunities in both countries were also explored, along with the role of the private sector in boosting trade exchange rates.

The executive committee of the Qatar-Nepal Joint Business Council, headed by HE Sheikh Khalifa bin Jassim Al-Thani and HE Dhakal, emphasized the importance of appointing members of the joint business council from both sides as soon as possible. This will allow the council to begin its activities a
imed at bringing businesspeople from both countries closer together and facilitating ongoing interaction to increase trade and economic cooperation.

During the meeting, the role of the joint business council in promoting trade activities and strengthening cooperation in trade, investment, technology transfer, services, and other industrial sectors was also highlighted. The council will provide a recognized and regular forum for discussions on enhancing these activities between businesspeople and industrialists in both countries.

Source: Qatar News Agency

Oil prices jumped at the end of Friday’s trading and are heading towards recording a weekly increase of 10% as investors assess the possibility of the conflict in the Middle East expanding, which could disrupt crude supplies, after US President Joe Biden said that the United States is considering whether to support Israeli strikes on Iranian oil facilities.

Brent crude futures jumped $1.14, or 1.47%, to $78.76 a barrel. US West Texas Intermediate crude futures jumped $1.28, or 1.74%, to $74.99 a barrel.

Former Director General of Oil and Gas Marketing at the Ministry of Energy and Minerals in the Sultanate of Oman, Ali Al Riyami, said that there is a habit and adaptation in the oil market regarding the geopolitical events that the world has witnessed since the Russian-Ukrainian war.

He added in an interview with “Al Arabiya Business”: “Oil prices may witness increases and supplies may be affected if Israel targets oil facilities in Iran.”

President Joe Biden said Thursday that the United States was consid
ering whether to support Israeli strikes on Iranian oil facilities in response to Tehran’s missile attack on Israel, as the Israeli military continued to pound Beirut in its conflict with the Lebanese group Hezbollah. But Biden later said he would not publicly discuss the discussions when asked if he had urged Israel not to attack Iranian oil facilities.

Biden’s comments helped send oil prices up 5%, as Israel weighs its options for responding after Iran launched its largest-ever attack on Israel on Tuesday.

But OPEC’s spare capacity and the unaffected global crude supply so far from the Middle East unrest have offset supply concerns that drove prices higher earlier this week.

Source: National Iraqi News Agency

Doha: The 11th edition of the ‘Arabian Woman Exhibition’ kicked off at the Doha Exhibition and Convention Center on Saturday, with the participation of 170 notable female entrepreneurs from Qatar.

The exhibition, which is held under the sponsorship of the Qatari Businesswomen Forum and will run until October 10, features 200 domestic and foreign booths.

Speaking at the opening ceremony, Ibtihaj Al Ahmadani, Board Member of the Qatar Chamber and Chairperson of the Qatari Businesswomen Forum, noted that Qatari women have achieved significant successes across various sectors, praising the unwavering support and encouragement of the wise leadership to Qatari woman.

She expressed gratitude to the Ministry of Social Development and Family for its continued support of Qatari women, particularly productive families, which led to holding the Second Arab Productive Families Exhibition in Doha, in cooperation with the League of Arab States and in coordination with the Union of Arab Chambers.

As the Chairperson of th
e Qatari Businesswomen Forum, Al Ahmadani invited Qatari businesswomen to join the forum in its new launch, emphasizing that it serves as a platform for Qatari businesswomen and entrepreneurs to promote their projects both locally and abroad.

For her part, Tamader Al Marri, Director of Vogue Event Company, the exhibitions organizing company, said that the exhibition, through its ten previous editions, has witnessed a qualitative leap in terms of exhibits, designs, and participating designers, emphasizing its benefit to Qatari female designers and entrepreneurs. She also underscored that Qatar has become a significant destination for major exhibitions and events.

Tamader further noted that this edition features several accompanying events, including an awareness campaign on breast cancer prevention in cooperation with the Qatar Cancer Society.

Accompanying events also include the participation of the Ministry of Social Development and Family, which aims to support productive families and introduce the “From
Home” initiative, which supports national productive projects, and the participation of Scale 7, the first business incubator for fashion and design in Qatar.

Source: Qatar News Agency

Basra crude “heavy and medium” achieved weekly gains exceeding 8%, with global oil prices also recording significant weekly gains.

Basra heavy crude closed in its last session yesterday, Friday, up $2.27 to reach $72.48, and recorded weekly gains of $6.34, equivalent to 8.47%.

While Basra medium crude closed in its last session up $2.27 to reach $75.48, and recorded weekly gains of $6.34, equivalent to 8.11%.

Global oil prices posted strong weekly gains of more than 9% for both crudes, as investors assessed the possibility of a wider conflict in the Middle East disrupting crude flows amid ample supplies in the global market.

Source: National Iraqi News Agency