BUSINESS | Page 1 SPORT | Page 1 Al-Attiyah eyes title INDEX DOW JONES QE NYMEX QATAR 2, 4, 20 COMMENT 18, 19 Al Rayan Bank’s UK with Baja REGION 5 BUSINESS 1-6, 12–16 branch sees growth 18,547.30 11,116.42 47.05 ARAB WORLD 5, 6 CLASSIFIED 7-12 Poland win +17.88 -97.43 -1.47 INTERNATIONAL 7 – 17 SPORTS 1 – 8 despite Brexit fallout +0.10% -0.87% -3.03% Latest Figures published in QATAR since 1978 WEDNESDAY Vol. XXXVII No. 10190 August 24, 2016 Dhul-Qa’da 21, 1437 AH GULF TIMES www. gulf-times.com 2 Riyals Qatar honour for Kuwaiti envoy In brief Qatar fi scal position ‘one QATAR | Diplomacy Turkish premier praises Qatar ties Turkish Prime Minister Binali Yildirim of strongest yesterday met with Qatar’s Minister of Municipality and Environment, HE Mohamed bin Abdullah al-Rumaihi, who is visiting Turkey. They discussed “aspects of co-operation between Qatar and Turkey in the fields of in the world’ economy and infrastructure”, the off icial Qatar News Agency (QNA) said. Qatar’s budget surplus is expected 40.2% in 2024 and 41.3% in 2025. The Turkish premier commended to be QR5.3bn in 2017 Similar to other hydrocarbon-ex- the co-operation between the two porting countries, Qatar’s sovereign countries in various fields. By Santhosh V Perumal outlook deteriorated on the back of the Business Reporter slump in global oil prices that began in FRANCE | Impact the summer of 2014. Oil and gas revenues accounted for Attacks hit Paris atar, whose budget will turn close to 60% of total revenues in 2014 tourism hard back to surplus in 2017, will re- (the share fell to 49% in 2015 as oil Islamist attacks, strikes and floods Qmain in one of the strongest fi s- prices plummeted) and will remain the kept foreign tourists away from the cal positions in the world over the next government’s largest income stream French capital in the first half of decade and continue to hold massive over the coming years. the year and cost the Paris region fi nancial buff ers through its sovereign “In response, we believe that tourism industry some 750mn euros wealth fund (SWF), according to BMI. Doha will increase non-oil revenues ($849.38mn) in lost revenue, off icials “Qatar’s sovereign position will re- throughout the next decade, raising said yesterday. “It’s time to realise main one of the strongest in the world,” taxes and fees for the expatriate com- that the tourism sector is going BMI said, forecasting that the budget munity in particular. In addition, we through an industrial disaster,” surplus is expected to be QR5.3bn in expect a GCC-wide value added tax to Frederic Valletoux, head of the HH the Emir Sheikh Tamim bin Hamad al-Thani presenting the Sash of Merit to outgoing Kuwaiti ambassador Mutib Saleh 2017, which then would expand to be implemented by 2018. Despite these Paris region tourist board, said in a al-Mutawtah in recognition of his eff orts in developing bilateral co-operation, after their meeting at the Emiri Diwan yesterday. QR13.9bn in 2018, QR20.4bn in 2019, eff orts, we forecast revenues to return statement yesterday. Page 11 The Emir also met with two other outgoing ambassadors, Julio Florian Alegre (Peru) and Ioannis Metaxas (Greece). They too QR27.9bn in 2020, QR39.5bn in 2021, to their pre-oil prices lump level only in received the Sash of Merit in recognition of their eff orts in promoting co-operation between Qatar and their countries. Page 2 QR53.3bn in 2022, QR68bn in 2023, 2022,” BMI said. EAST ASIA | Tension QR83.2bn in 2024 and QR99.2bn in As a result, the Qatari government 2025. will continue to rationalise spending North Korea ‘lays Having posted large budget sur- over the coming decade, it said, adding mines along DMZ’ pluses between 2010 and 2015 on the this would result in slower government North Korean soldiers have been back of massive hydrocarbon revenues, expenditure growth, but not in a de- laying fresh landmines in the BMI said it allowed the country to set crease in total spending. demilitarised zone (DMZ) separating New company to market up a SWF, Qatar Investment Author- In particular, the Qatari government their country from South Korea in ity, which held $335bn (215% of gross will continue to fund infrastructure recent weeks, reported South Korean domestic product or GDP) of assets at projects for the 2022 FIFA World Cup. news agency Yonhap yesterday, the end of 2015, equivalent to fi ve times Qatar will further reduce energy, water citing government sources. The petroleum products abroad the total stock of public debt issued by and food subsidies, in particular for ex- activity was noted by observers at the Qatari government. patriates, according to the report. the DMZ village of Panmunjom. shareholding company called tonnes, and not used for generating issued by a decision from the minister. As a result, Qatar enjoys the best rat- The latter will bear the brunt of the Qatar Petroleum Company profi t. The vessel should also pass the rel- ings in the Middle East (along with the fi scal consolidation reforms, given that PAKISTAN | Accusation A Limited for the Sale of Petro- The law stipulates that all marine evant technical inspection for regis- UAE and Kuwait), with Fitch rating it the Qatari government will attempt to leum Products shall be established vessels can be operated only after reg- tration and the owner shall submit a AA (outlook stable), Moody’s Aa2 (out- shield its citizens as much as possible Treason charge for the marketing and sale, outside istration and it is not allowed to pilot third-party insurance document from look negative) and S&P AA (outlook from austerity measures to secure po- against MQM chief the country, of products under gov- them without a valid driving licence. a national insurance company. If the stable). litical stability, BMI said. Pakistani police yesterday charged ernment jurisdiction, according to a However, vessels belonging to the owner is not a Qatari national, his/her Total government debt as a propor- Expecting the wage bill to remain el- the exiled leader of a major political decree issued by HH the Emir Sheikh government are exempted from this. Qatar residency permit should be valid. tion to GDP is expected to be 47.4% this evated throughout the next decade, as party with treason and inciting Tamim bin Hamad al-Thani yesterday. Besides, the minister of transport and The minister may add more conditions year, which then is slated to progres- the Qatari government will continue terrorism, as his own second-in- The Emir also issued Law No 8 for communication can issue a decision to or waive some of these temporarily or sively fall to 42.3% in 2017, 40.4% in to off er well-paid public jobs to trans- command vowed to disown him 2016 regarding marine vessels. exempt scientifi c research ships from permanently. 2018, 39.8% in 2019 and 38.4% in 2020. fer hydrocarbon wealth to its citizens, a day after a violent protest in Article No 1 of Law No 9 of 2016 these regulations. Each registered vessel will be issued Thereafter, it is expected to increase to it said salaries and wages constituted Karachi. Altaf Hussain, leader of stipulates that the company will be All those purposely involved in oper- a plate that distinguishes it from oth- 39.1% in 2021 and 2022, 39.5% in 2023, 29.8% of revenue in 2014-15. the Muttahida Qaumi Movement completely owned by the State of Qa- ating or navigating such vessels with- ers that carry the name and number of (MQM), was accused with a dozen tar and represented by Qatar Petrole- out valid registration will be penalised registration. It is not allowed to oper- other party leaders of shouting um. The new law amended some pro- with a maximum jail sentence of three ate a vessel without such a plate and it anti-Pakistan slogans at the visions of Decree Law No 15 of 2007 months and a fi ne of up to QR50,000, cannot be modifi ed without the prior demonstration on Monday. Page 15 on the regulation of the marketing and or either. The same applies to driving approval of the department concerned. sale, outside Qatar, of products under them without a valid licence. The registration will be valid for one Prominent national dies the jurisdiction of government regula- However, the minister or a delegated year, which will be renewed only af- tion. offi cer may work out a reconciliation ter compliance with set technical re- Article No 1 further says that the before submitting a criminal case or quirements and payment of fees. oted Qatari company shall operate as a commercial while it is being reviewed by a court, on The registration certifi cate should citizen enterprise that has the right to own the the condition that the violator pays half always be kept on board the vessel and NNasser bin products subject to government regu- of the stipulated maximum fi ne. presented on demand to offi cers con- Abdullah al-Attiyah lations and trade in them inside Qatar Accordingly, the criminal case will be cerned. In addition, it is not permis- died yesterday and sell such products in its name. dropped. sible for any person to drive a marine morning. He was The company shall appoint Qatar Current owners of relevant marine vessel without obtaining the proper 80. Petroleum as the agent for it to under- vessels will be given a grace period of valid licence.