QNB and Oxford Business Group Launch The Report Qatar 2009

Posted on : Wed, 03 June 2009

Doha, 03 June 2009 - Qatar National Bank (QNB) and Oxford Business Group (OBG) today announced the launch of The Report: Qatar 2009, OBG's flagship annual publication which outlines the State of Qatar's economic trajectory in recent years as well as trends for 2009.

OBG is a global publishing, research and consultancy firm which publishes economic and political intelligence on various global markets. This latest report says that with massive reserves of natural gas and an increasingly prominent position in world diplomacy, Qatar has come into the spotlight as a haven of stability in a year of deep economic uncertainty. Besides a strategic location in the Gulf and rich hydrocarbons reserves, the country also boasts progressive social policies that place human capital development at the centre of long-term economic growth.


By steering the country towards well-planned diversification and development at a suitable pace, the government, along with the country’s strong population fundamentals, have largely protected Qatar from the deteriorating effects of the global financial crisis, says the report.

The Report includes an interview with QNB Group Chief Executive Officer Mr. Ali Shareef Al Emadi on the health of the national banking sector, as well as share analyses and data of selected stocks provided by QNB.

Commenting on QNB’s collaboration with OBG, Mr. Al-Emadi stated: "Through this continuing partnership with the Oxford Business Group, QNB is able to contribute to taking the message of Qatar's sustained economic growth to the world. It provides insight on every sector of the economy for the benefit of investors."

QNB and OBG enjoy a healthy working relationship spanning many years and are collaborating on, this, the sixth consecutive report on Qatar. QNB is the largest bank in Qatar and offers a wealth of research experience pertaining to the country's capital markets as well as the vast oil and gas sector which is a primary engine of growth and is attracting rising levels of foreign investment.

The strength of the economy is in large part from its massive energy reserves, but like most other Gulf states, economic diversification remains a top priority and the non-oil sector has been returning promising growth figures. According to the published research, led by expansions in real estate, financial services and industry, among other sectors, non-hydrocarbons growth was up by 27.1% in 2007, compared with oil and gas sector growth of 23.7%.

Indeed, Qatar aims to make the non-energy sector account for 80% of the economy by 2015, with increased public spending forecast in the 2009/10 budget.

The Report; Qatar 2009 covers Qatar's progress in politics and foreign affairs, the economy, banking, capital markets, Islamic financial services, insurance, energy, transport, real estate, construction, telecoms, information technology, industry, tourism, media, health & education, retail, sports, and the environment.

It also has a section called The Business Guide which outlines tax laws in Qatar, as well as sections that provide practical guides to the country, including essential insight into the culture and etiquette of Qatar for first-time visitors. Also included is a travel piece from one of OBG’s local correspondents on the brand new, world-renowned Museum of Islamic Art in Doha.