Qatari Banks Unaffected by Siege: Report
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FRIDAY OCTOBER 12, 2018 SAFAR 3, 1440 VOL.12 NO. 4420 QR 2 FINE Fajr: 4:14 am Dhuhr: 11:22 am HIGH : 37°C Asr: 2:42 pm Maghrib: 5:11 pm LOW : 31°C Isha: 6:41 pm United States 9 Business 10 Sports 13 Hurricane Michael leaves trail OPEC sees oil market as well Qatar play host to Ecuador in of devastation in Florida state supplied, wary of 2019 surplus friendly today at 6:30pm FM MEETS US SPECIAL ENVOY TO AFGHANISTAN Qatari banks unaffected by siege: Report Financial Times praises Qatar’s self-sufficiency drive TRIBUNE NEWS NETWORK DOHA BLOCKADE: THE Saudi-led economic blockade seems to have A BOON IN helped Qatar diversify, leav- ing the country in a better DISGUISE shape than before, London- based Financial Times (FT) newspaper said on Thursday. “Compared with how things might have been, this has been a good year for Qa- tari banks. The ructions of the past year may even have Deputy Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman al Thani met US Special Envoy to left the country’s economy The push for self-sustainability fed through to the banking Afghanistan Zalmay Khalilzad in Doha on Thursday. They discussed ways of achieving peace and stability in Afghanistan and Qatar’s and, as a result its bank- sector as banks expanded their lending into new, non-hydro- positive role in the peace process. (QNA) ing sector, is in better shape carbon sectors of the economy than before,” the report said. While the siege of Qa- By June this year, the pressure of blockade eased further, tar in June 2017 resulted in as non-resident deposits recovered to QR150 billion from the withdrawal of deposits from low of QR137 billion at the end of 2017 Quick read the blockading countries, the report said, the government Price of Brent crude has risen from $45 a barrel in June last Shura speaker Qatar’s $3mn grant to boost stepped in and a flood of pub- year to more than $85 a barrel today. This is comfortably above arrives in Geneva lic sector deposits outweighed the ‘break-even’ price at which the government budget is in for IPU meet the non-resident withdrawals balance, which Fitch estimates at about $64 a barrel this year Gambia’s democratic system by a factor of 2.5. SPEAKER of the Advisory (Shu- The result was that, in ra) Council HE Ahmed bin Abdul- QNA spite of the funding crunch, drive towards self-sufficien- The blockade could turn out lah bin Zaid al Mahmoud and BANJUL new government, made dur- the Gambia have made signifi- the spread between what cy in goods that otherwise to be beneficial,” Ramsdale his accompanying delegation ar- ing the donor conference cant progress in several fields. banks paid depositors and might never have been pro- said, adding, “From what we rived in Geneva on Thursday to QATAR and the Gambia have in Brussels in May, said the Agreements have been signed what they charged borrowers duced in Qatar, the FT report are hearing from the banks, participate in the 139th Assem- signed a $3 million grant ambassador. on double taxation, employ- improved by 41 basis points said. there has been quite good bly of the Inter-Parliamentary agreement to promote the ment and maritime naviga- during 2017, according to The country even airlift- diversification into other in- Union (IPU), which will be held rule of the law and the estab- tion,” he said. analysts at HSBC. ed cows to secure milk sup- dustries.” from October 14 to 18. The lishment of a comprehensive The grant agreement The Gambian minister By June this year, the plies. “Qatar has been pretty Moreover, oil prices be- session, titled ‘Parliamentary democratic system in the West seeks to promote the rule thanked Qatar, praising its pressure eased further, as successful in managing the gan to recover almost im- leadership in promoting peace African country. of the law and the estab- financial and moral support non-resident deposits recov- impact of the embargo,” the mediately after the blockade and development in the age of Ambassador of Qatar to lishment of a comprehen- for his country’s democratic ered to QR150 billion from newspaper quoted Redmond was imposed. Brent crude has innovation and technological the Gambia HE Faisal bin process. the low of QR137 billion at Ramsdale, head of GCC bank risen from about $45 a barrel change’, will discuss issues Fahad al Mana and Gambian sive democratic system in Gambia’s Attorney-Gen- the end of 2017, according ratings at Fitch Ratings, as in June last year to more than related to enhancing parliamen- Minister of Agriculture Lamin the West African country eral and Minister of Justice to Qatar Central Bank. Alto- saying. $85 a barrel today. This is tary cooperation. (PAGE 2) Dibba, on behalf of the min- Abubacarr Tambadou, Per- gether, about $9bn in foreign “There has certainly been comfortably above the ‘break- ister of finance, signed the manent Secretary of the Min- funding has returned, Fitch quite a push to self-sustain- even’ price at which the gov- agreement at the embassy of He said the two countries istry of Finance Lamin Cama- Ratings said. ability. This has fed through ernment budget is in balance, Qatari firms may Qatar in Banjul. will strengthen cooperation in ra and Permanent Secretary The sudden stop, not only to the banking sector as which Fitch estimates at about report 27% rise in The support comes in the coming years for the bene- of the Ministry of Agriculture of non-resident deposits but banks expanded their lend- $64 a barrel this year. Q3 earnings: QNBFS fulfilment of Qatar’s com- fit of the friendly peoples. “The Ada Gaye attended the signing also of goods from elsewhere ing into new, non-hydrocar- mitment to the Gambia’s relations between Qatar and ceremony. in the Gulf, led to an urgent bon sectors of the economy. More on page 3 Ô QATARI companies listed on Qa- tar Stock Exchange are expect- ed to report strong earnings in the third quarter of 2018, QNB Financial Services (QNBFS) has said in its latest report. Accord- Turkish-Saudi joint team ing to the report, the earnings of listed companies under QNBFS to probe Khashoggi case coverage are expected to rise 27 percent in the third quarter ANKARA and Riyadh will form to find out what happened...and this year when compared with a joint group to look into Saudi we’re probably getting closer than the same quarter of the previ- journalist Jamal Khashoggi’s you might think,” Trump said in ous year. (PAGE 10) disappearance in the Saudi Ara- an interview on the Fox News’ bian consulate in Istanbul, Al ‘Fox & Friends’ programme. Qatar’s first overseas visa Jaeera reported on Thursday Meanwhile, Turkish Presi- Erdogan: Turkey ‘cannot quoting Turkey’s official news dent Recep Tayyip Erdogan has remain silent Qatar committed to centre opens in Colombo agency Anadolu. intensified pressure on Riyadh help other nations US President Donald Trump over the incident, saying Ankara Qatar opened its first overseas visa centre in Colombo, the capital of Sri said the authorities were getting “cannot remain silent to such an UN conveys concerns provide education: Lanka, on Thursday, enabling easy completion of recruitment procedures closer to understanding the dis- incident”. to Saudi Arabia (PAGE 7) through a single channel and within a short period of time. (PAGE 16) Hammadi (PG 2 ) appearance of Khashoggi. “I have (AL JAZEERA / AGENCIES) Saudi targets Qatar as the world demands answers TRIBUNE NEWS NETWORK -- have ratcheted up the pressure Qatar has become the scapegoat for Riyadh to avoid on diplomatic, economic and DOHA on Saudi to explain how the jour- confrontation with Turkey and the global community commercial fronts. nalist vanished after entering its As part of the game, Al-Ri- FEELING the heat after the consulate last week, with Presi- Saudis are using fake yadh newspaper accused Qa- disappearance and possible kill- dent Donald Trump declaring he Twitter accounts like tar’s Al Jazeera news channel of ing of dissident Saudi journalist “had to find out what happened”. this in its hate cam- spreading false information on Jamal Khashoggi, Riyadh has Turkey has accused Riyadh paign against Qatar Khashoggi issue. Al-Arabya in- started an all-out media offen- of targeted killing inside the and Turkey. terviewed a so-called ‘communi- sive against Qatar, presumably consulate, dismembering of the cations expert’ at the University to divert the world’s attention body and hiding of the remains on the incident, Saudi Arabia mation from its ally Saudi. of Saud in Riyadh who accused from its serial acts of oppression with the aim of suppressing a plays a perverse game of dis- After the disappearance of Doha of wanting to undermine against citizens. voice critical of the regime. tracting the global attention by Khashoggi, major newspapers in relations between Turkey and Space crew survives plunge The disappearance of Britain’s foreign secretary attacking Qatar. In this episode the kingdom have limited them- Saudi Arabia. The Saudi satellite Khashoggi, who was critical Jeremy Hunt warned that Saudi the Saudis have begun talking of selves to telling the story with- channel didn’t even spare the after Russian rocket fails of the Saudi government and Arabia faces “serious conse- Qatar’s involvement. Qatar has out giving information on the Turkish girlfriend of Khashoggi, Crown Prince Mohammad bin quences” if the suspicions that become the scapegoat for Riya- perpetrators. But, the last two stating that she was “totally un- A two-man US-Russian crew of a Soyuz spacecraft bound for Salman (MBS), in the Saudi Khashoggi was murdered after dh to avoid confrontation with days have seen a clear reversal of known” to the journalist’s family the International Space Station was safe following a dramatic Arabian consulate in Istanbul, entering the Saudi consulate Turkey -- a close ally and partner the trend, with the newspapers and could have “played a central emergency landing on Thursday shortly after liftoff in Kaza- Turkey, is shrouded in mystery.