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Qatar's Sovereign Fund Plans Major New Investments BUSINESS | Page 1 SPORT | Page 8 Expectant Serena has ‘outrageous’ INDEX DOW JONES QE NYMEX QATAR 2-6, 20 COMMENT 18, 19 comback REGION 6 BUSINESS 1–8, 12-16 Consumer confi dence 22,024.87 9,022.25 46.77 ARAB WORLD 7 CLASSIFIED 9-12 plan +25.88 -112.11 -0.78 INTERNATIONAL 8–18 SPORTS 1–8 rises in second half +0.12% -1.23% -1.64% Latest Figures published in QATAR since 1978 THURSDAY Vol. XXXVIII No. 10548 August 17, 2017 Dhul-Qa’da 25, 1438 AH GULF TIMES www. gulf-times.com 2 Riyals Emir receives new Omani envoy Message to Kuwaiti leader In brief QATAR | Offi cial Emir chairs meeting of economic council His Highness the Emir Sheikh Tamim bin Hamad al-Thani, Chairman of the Supreme Council for Economic Aff airs and Investment, chaired the council’s fourth meeting in 2017, His Highness the Emir Sheikh Tamim bin Hamad al-Thani sent a written message to held at the Emiri Diwan yesterday. the Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah, pertaining to bilateral His Highness the Deputy Emir relations and means of enhancing and developing them as well as the latest regional Sheikh Abdullah bin Hamad al-Thani, and international developments, especially the Gulf crisis. The message was handed Vice-Chairman of the council, and by HE the Foreign Minister Sheikh Mohamed bin Abdulrahman al-Thani during a HE the Prime Minister and Interior meeting with the emir of Kuwait yesterday. Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani, the ouncil’s executive member, attended the His Highness the Emir Sheikh Tamim bin Hamad al-Thani received the credentials of the Omani ambassador to Qatar Najib meeting along with the members bin Yahya al-Balushi at the Emiri Diwan yesterday. The Emir welcomed the new ambassador and wished him success in his of the council. During the meeting, mission. Page 2 the council discussed topics on the agenda and took appropriate decisions thereon. US fi rm to help Saudi hate tweet brought down A Saudi verified Twitter account Mujaz Alakhbaar (@KSA24) was bolster Qatar’s forced to delete a tweet that incited Qatar’s sovereign violence and called for terrorist attacks be launched against the State of Qatar and Al Jazeera Media counter-terror Network. The tweet, which was deemed off ensive, inappropriate and disgusting, was removed after being fund plans major labelled hate speech. funding system Financial Integrity tral Bank, and by Daniel L Glaser, Network to collaborate on behalf of FIN. Glaser previously new investments served as Assistant Secretary for The said Twitter account is only one closely with Qatar Terrorist Financing and Financial instance of several other Saudi and No plan to liquidate However, Sheikh Abdullah said that establishments Crimes in the US Department of Emirati Twitter accounts which have foreign investments: QIA the sanctions against Qatar had not Engagement with FIN the Treasury’s Office of Terrorism been trying to encourage terrorism. aff ected the QIA’s investment strat- reinforces Qatar’s already and Financial Intelligence from May Many online news websites have egy. He did not give any details of the 2011 to January 2017, where he was Reuters strong commitment reported similar Saudi, Bahraini and Doha/Zurich planned new investments. responsible for formulating and co- Emirati Twitter accounts being shut His comments were in line with to combating money ordinating AML/CFT and sanctions down or forced to delete tweets observations by a private banker fa- laundering and terrorist policies and strategies for the US containing hate speech. atar’s sovereign wealth fund, miliar with the QIA’s operations, government. The engagement was ‘Twitter’ identifies hate speech as with around $300bn to its who told Reuters that he had not financing signed during a ceremony held yes- service violation and strictly bans it. Qname, is shrugging off the noticed any major asset sales by the terday evening and was attended by - By Ahmed al-Qudah country’s diplomatic crisis with its fund in the past two months. QNA a number of senior leaders and offi- neighbours and planning to expand its AFP adds: Qatar’s economy is Doha cials from both sides. ARAB WORLD | Politics holdings. Sheikh Abdullah bin Mohamed bin strong enough to survive the siege Under this new partnership, FIN will Its chief executive was quoted yes- Saud al-Thani, QIA chief. imposed by neighbouring countries, collaborate closely with NAMLC and Saudi, Iraq look terday as saying there were no plans to analysts say. atar’s National Anti-Money its member authorities in reviewing to reopen border liquidate foreign assets – as some in- ism, a charge which Doha denies. Rashid bin Ali al-Mansoori, CEO of Laundering and Terrorism Fi- the implementation and eff ectiveness Iraqi and Saudi off icials yesterday vestors had speculated – and that the Though some banks from the block- the Qatar Stock Exchange, said “the Qnancing Committee (NAMLC) of Qatar’s AML/CFT legal framework inspected a border crossing fund would soon announce big new ading countries pulled out deposits and Qatar economy is very strong, it’s the has engaged the US-based Financial and international commitments, and between their countries to examine international investments. loans from Qatar, the Qatar Investment strongest economy in the region... Integrity Network (FIN) as its princi- ensuring their alignment with global how to reopen the frontier, closed “We have just completed a tour of Authority (QIA) deposited billions of investor trust and confi dence in the pal strategic adviser for enhancing the standards, including those established for the past 27 years,, off icials said several countries around the world and dollars in local banks to prevent them market is still there”. country’s anti-money laundering and by the Financial Action Task Force yesterday. The border has been you will hear about signifi cant invest- from suff ering funding squeezes. Analysts said they have faith in the counter-terrorist fi nancing (AML/ (FATF). shut to all travellers except Iraqi ments soon,” Sheikh Abdullah bin Mo- Offi cial data shows Qatar deposited capacity of Qatar, holder of the world’s CFT) system. NAMLC’s engagement with FIN Muslim pilgrims heading to and hamed bin Saud al-Thani, who runs $10.9bn in its banks during June. third-largest natural gas reserves after The arrangement will help ensure reinforces Qatar’s already strong from Makkah in western Saudi the Qatar Investment Authority (QIA), Although the QIA is believed to have giants Russia and Iran, to withstand a Qatar meets the heightened and evolv- commitment to combating money Arabia since Saddam Hussain’s told the Lusail newspaper. substantial cash reserves, economists long crisis. ing global standards and expectations laundering and terrorist fi nancing. 1990 invasion of Kuwait. Riyadh Qatar’s economy has never been under have speculated it may soon have to “Qatar is the most resilient country for fi nancial integrity. Qatar’s AML/CFT framework, among and Baghdad reached a deal “to pressure since June 5 when Saudi Arabia, start liquidating some of its overseas in the Middle East by far,” said Andreas The engagement was announced the leading benchmarks in the region, renovate the Arar border post and the United Arab Emirates, Bahrain and assets – such as holdings or bonds or Krieg, a strategic risk analyst and as- in Doha by HE Sheikh Fahad Faisal criminalises all activities related to fully open it for trade and passage Egypt cut diplomatic and transport ties equities, or even real estate – in order sistant professor at King’s College al-Thani, Chairman of NAMLC and money laundering and terrorist fi - for visitors between the two with Doha, accusing it of backing terror- to continue supporting the economy. London university. Deputy Governor of the Qatar Cen- nancing. To Page 20 countries” when Iraqi Prime Minister Haider al-Abadi visited Saudi Arabia in June, his spokesman Saad al- Hadithi said. REGION | Funeral US upgrades its command Milaha launches direct container Fans of Abdulredha shed tears at burial centre at Al Udeid Air Base service between Qatar and Kuwait Despite scorching Reuters Center, known in military-speak as heat and Al Udeid Air Base the “CAOC,” is grappling with a diz- ilaha, a Qatar-based mari- ing to enter the Qatari market. Going summer-end zying amount of data and intelligence time and logistics conglom- forward, our track record in deliver- high humidity, fl owing in from sources like satellites, Merate, has launched the first ing reliable and innovative supply waves of ith its wall-sized screens drones, radar and US aircraft fl ying ever direct feeder service between chain solutions allows us to continue nationals and simultaneously showing over Middle East hot spots and bomb- Qatar and Kuwait. The new service, responding fl exibly to our clients’ residents WAmerica’s air wars in Iraq, ing Islamic State positions. named KQX (Kuwait Qatar Express specifi c requirements with solid value gathered Syria and Afghanistan, this war room Lieutenant General Jeff rey Harri- Service), will operate between Ha- propositions.” yesterday at at the heart of America’s biggest mili- gian, head of US Air Force’s operations mad Port in Qatar and Shuwaikh Port Milaha continues to enhance its funeral of the tary campaigns is already something of throughout the region, has champi- in Kuwait once a week initially, using international reach and diverse port- renowned a technological marvel. oned the technology push with Gold- a 515 TEU (twenty-foot equivalent folio of marine and logistics services. Kuwaiti “It’s state-of-the-art but too slow fein’s support to take better advantage unit) vessel.
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