Qatar Business

Doha, Qatar: QIIB has been honoured with two prestigious awards from the US-based World Economic magazine - ‘Best Bank for Digital Transformation Qatar 2025’ and ‘Best Retail Bank Qatar 2025’. These awards serve as a recognition of QIIB’s leadership in the highly competitive and robust Qatari banking sector, which continues to demonstrate excellence both regionally and internationally. Explaining the rationale behind choosing the award winner, World Economic Magazine highlighted: “QIIB has efficiently responded to market demands and technological advancements, achieving a remarkable digital transformation within a record timeframe. “The Bank has set high standards in providing digital banking services, optimising operational efficiency through advanced digital channels. QIIB continues to uphold exceptional flexibility, robust security measures, rapid responsiveness, and seamless 24/7 access to banking services.” The magazine noted, “QIIB has earned the title of the ‘Best Retail Bank in Qatar for 2025’ having delivered exceptional value-added services to a broad customer base. The Bank has effectively expanded its retail banking operations through increased innovation, attractive products and services, and competitive cost structures for customers. This success is reflected in QIIB’s outstanding retail banking activities and its strong performance across both digital and traditional banking channels.” Commenting on QIIB’s achievement, Dr. Abdulbasit Ahmad Al Shaibei (pictured), Chief Executive Officer stated, “We are delighted to receive this recognition, which reflects the positive impact of our banking services on our customers’ lives, whether through our digital or traditional channels.” “These two awards are a reflection of our continuous hard work and the substantial investments we have made across various banking sectors." "Our focus has been on innovation, efficiency, and keeping pace with global banking technological advancements." "In many instances, we have been pioneers in introducing groundbreaking services and products in Qatar.” QIIB Chief Executive Officer Dr. Abdulbasit Ahmed Al Shaibei confirmed: “QIIB’s leadership is further validated by the prestigious ratings and acknowledgments we receive from international credit rating agencies, as well as from institutions and organisations that recognise our excellence, financial strength, and innovative banking solutions." The Bank has firmly established itself as a key player in the banking sector over the years.” “QIIB’s success is largely attributed to the unique advantages and opportunities provided by Qatar’s thriving economy, which has driven the banking sector to remarkable growth and regional and international prominence.” QIIB Chief Executive Officer Dr. Al Shaibei concluded: “QIIB remains committed to executing its strategic plans to provide the best possible banking experience to our customers." "Our focus will continue to be on innovation and leveraging cutting-edge banking technology to enhance operational efficiency and solidify QIIB’s position as a leading Islamic financial institution both locally and globally.”

Qatar Business

Doha, Qatar: Gulf Warehousing Company (GWC) – one of the leading logistics providers in the MENA region, has announced the signing of a strategic service agreement with Huawei to enhance the delivery efficiency of Huawei’s official e-commerce store nationwide and ensure an exceptional customer experience. This partnership follows the official launch of Huawei’s e-commerce store in Qatar on March 20th, marking a significant strategic step in expanding the company’s presence in the local market. GWC stands at the forefront of the logistics industry, backed by an extensive network across Qatar and decades of expertise in warehousing, distribution, and last-mile delivery. The company’s state-of-the-art facilities and forward-thinking fulfilment solutions will play a crucial role in ensuring Huawei’s products reach customers reliably and efficiently. Matthew Kearns, GWC’s Group Acting CEO, said: “Through this collaboration between two industry leaders in the logistics and technology sectors, we are well-positioned to drive a transformational change in the rapidly evolving e-commerce industry. Together, we aim to meet rising market demand, enhance customer experience, and deliver exceptional services and innovative solutions.” Tang Liangjian, Country Manager of Huawei Consumer Business Group, Qatar, said: “The partnership with GWC underscores our commitment to delivering the highest level of service to our customers in Qatar. By integrating our e-commerce platform with GWC’s industry-leading logistics expertise, we can effectively meet the growing consumer demand for a fast, secure, and convenient online shopping experience.” GWC’s last-mile delivery services have set a benchmark for excellence, representing the final and most crucial stage in the supply chain — where shipments are delivered directly to customers’ doorsteps. The company’s exceptional last-mile delivery services have cemented its position as an industry leader, playing a pivotal role in elevating the shopping experience by ensuring products are delivered to customers as quickly and efficiently as possible. Kearns added: “At GWC, we are adopting cutting-edge technological innovations to enhance operational efficiency, precision, and speed." "Through this partnership, delivering a competitive edge for Huawei’s e-commerce store via advanced last-mile solutions is one of our top priorities. "We are committed to enhancing customer satisfaction, strengthening our presence in the e-commerce sector, and offering innovative logistics solutions tailored to evolving customer needs and future market developments.” GWC offers best-in-class logistics and supply chain services that include warehousing, distribution, logistics solutions for hazardous materials, freight forwarding, project logistics, sporting events and equestrian logistics solutions, fine art logistics, supply chain consulting services, transportation, records management, and local and international relocation services. GWC benefits from a global freight network and massive logistics infrastructure spanning over 4 million square meters.

Energy

Doha, Qatar: Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh US sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply. Brent crude futures rose 16 cents, or 0.2%, to settle at $72.16 a barrel. US West Texas Intermediate crude futures rose 21 cents, or 0.3%, to $68.28. On a weekly basis, Brent rose 2.1% and WTI about 1.6%, their biggest gains since the first week of the year. On Thursday, the US, noted Al-Attiyah Foundation in its Weekly Energy Market Review. Treasury announced new Iran-related sanctions, which for the first time targeted an independent Chinese refiner among other entities and vessels involved in supplying Iranian crude oil to China. That probably sent a message to the market that Chinese companies, the largest buyers of Iranian oil, are not immune to sanctions pressure from the US, analysts said. It was Washington’s fourth round of sanctions against Tehran since President Donald Trump in February promised “maximum pressure” and pledged to drive Iran’s oil exports down to zero. The tightening US sanctions regime will probably keep some market participants involved in shipping Iranian crude more cautious going forward. Oil prices were also supported by the OPEC+ plan for seven members to cut output further to compensate for producing more than agreed levels. The plan would represent monthly cuts of between 189,000 bpd and 435,000 bpd until June 2026. Asian spot liquefied natural gas (LNG) prices rose slightly this week but remained close to a three-month low amid ample supply and mild weather forecasts. The average LNG price for May delivery into north-east Asia was at $14.60 per million British thermal units (mmBtu), up from $13.40 per mmBtu last week, industry sources estimated. Meanwhile, Asian demand for contracted LNG, such as from Qatar, is strong with oil-linked contracts trending at a discount to spot prices. In particular, Qatari deliveries to Taiwan have been above the five-year average in Q1 while deliveries to China are picking up in March, likely displacing US LNG which has been subject to a 15% tariff since February 10, analysts said. Asian prices are expected to remain stable this week, supported by steady European gas movements, mild weather forecasts, ample supply projections, and rising expectations of restocking needs. In Europe, above-average temperatures and a partial recovery of wind generation are expected to keep prices range-bound next week but could rise later in March as temperatures drop below seasonal averages.