News That Matters

Tag: Qatar

Kongsberg signs long-term vehicle technology deal in Qatar

Kongsberg signs long-term vehicle technology deal in Qatar

Business
March 13 (UPI) -- International technology company Kongsberg signed a long-term technology development program deal with Barzan Holdings for work in Qatar.Kongsberg CEO Geir Håøy and Hamad Al Hajri, Program Director Barzan Holdings, signed the agreement in Doha, Qatar on Tuesday. The contract is potentially valued at more than $ 194.1 billion over an eight year period.The contract will seek to develop new technologies for "communication, digitalization and tower solutions for military vehicles."The technology development program is one of the largest undertakings in Kongsberg's history, the company said."We see considerable opportunities and potential for Norwegian industry and technology development with this establishment," Geir Håøy, President and CEO of Kongsberg, said in a press relea
Barclays Bank charged over Qatar loans

Barclays Bank charged over Qatar loans

Business
The Serious Fraud Office (SFO) has charged Barclays Bank PLC with "unlawful financial assistance" related to billions of pounds raised from Qatar in 2008.The same charges were bought against Barclays PLC in June last year.The move to charge Barclays Bank as well is significant because it holds the banking licence that allows it to operate in different countries.So, if Barclays was found guilty, it could lose that crucial licence.In 2008, to avoid a government bailout, Barclays took a £12bn loan from Qatar Holdings, which is owned by the state of Qatar.Under that deal Barclays loaned £2.3bn back to Qatar Holdings.The SFO alleges that loan was used either directly, or indirectly, to buy shares in Barclays, which the SFO says is "unlawful financial assistance".In response, Barclays said: "Bar
Qatar buys 24 Eurofighter Typhoon jets in £6bn deal

Qatar buys 24 Eurofighter Typhoon jets in £6bn deal

Business
A £6bn deal to sell Eurofighter Typhoons to Qatar will help safeguard thousands of UK jobs.BAE Systems employs about 5,000 people in the UK to build the fighter jets, mainly at Warton in Lancashire.Qatar's purchase of 24 jets includes a support and training package from BAE, with deliveries due to start in 2022.The deal was announced in Doha by Defence Secretary Gavin Williamson and his Qatari counterpart, Khalid bin Mohammed al Attiyah. Mr Williamson said it was a "massive vote of confidence, supporting thousands of British jobs and injecting billions into our economy".BAE chief executive Charles Woodburn said the contract, worth £5bn to the company, was the start of a long-term relationship with Qatar and its armed forces. "This agreement is a strong endorsement of Typhoon's leading capa
Moody's: Energy-rich Qatar facing economic risks

Moody's: Energy-rich Qatar facing economic risks

Business
Aug. 8 (UPI) -- Qatar's finances remains exposed to risks associated with lingering regional disputes and declining oil-related revenues, Moody's Investors Service said.Saudi Arabia in June led a coalition of Middle East countries in severing ties with Qatar, adding a layer of geopolitical risk to the global energy market. Saudi Arabia is the largest oil producer in the Organization of Petroleum Exporting Countries, Qatar is a leading natural gas supplier and the Persian Gulf is a choke point for the flow of energy supplies from the region.The countries accused Qatar of supporting terrorist networks and called on the nation to downgrade its relations with the Muslim Brotherhood in Egypt and close its al-Jazeera media outlet, among other things.The ratings agency said it lowered its outlook...
Qatar hits out at UAE over websites 'hack'

Qatar hits out at UAE over websites 'hack'

World
Qatar says the United Arab Emirates' alleged hacking of its government websites is a violation of international law.US spies accused the UAE of infiltrating the sites to plant fake news and provoke one of the worst diplomatic rifts in recent Middle East history.Qatar has been ostracised by its neighbours since reports revealed its emir making comments praising Hamas and calling Iran an "Islamic power".The spat has wiped billions off stock values, separated families and raised doubt about Arab solidarity in the fight against Islamic State.However, US intelligence agencies claim the quotes were posted falsely and deliberately in a state-sponsored hack ordered by the UAE to whip up anger against its smaller Gulf neighbour.The Washington Post reports that new intelligence reveals the UAE gover...