AGP Executive Report

Energy & Mediation: Qatar and Pakistan have reportedly proposed a US-Iran deal that includes an IAEA visit to Iranian nuclear sites and interest payments on $6 billion in frozen funds held in Qatar. The initiative aims to reopen the Strait of Hormuz, a critical route for energy supplies. Lebanon Power: Qatar has proposed two 825-megawatt power plants and a 20-year LNG supply agreement to help ease Lebanon’s electricity crisis. Gas & Revenue: Nakilat’s third-quarter net profit fell 1.5% to QR1.29 billion amid regional disruption, while Qatar’s first-half government revenue was reported down 42% as gas exports were hit by the war. Business Partnerships: Qatar Airways and QNB Group are teaming up on global digital payments, and Qatar’s tech park and Microsoft launched a startup-support programme. Singapore Ties: Qatar and Singapore agreed to elevate relations to a strategic partnership and renew energy cooperation.

Lebanon Energy Plan: Qatar’s proposal would build two 825-megawatt power plants and supply LNG to Lebanon for 20 years, alongside renewable energy projects. The plan still needs approval from both governments. Energy Outlook: Qatar warned that Gulf supply disruptions could deepen, driving up costs and threatening global trade and growth. Singapore Partnership: Qatar and Singapore agreed to elevate ties and renewed cooperation on LNG and low-carbon technology, with investment among their priorities. Startups and AI: QSTP and Microsoft are expanding startup support, with 47 Qatari ventures now active in the programme; Qatar has also established a National Centre for AI within its communications ministry. Digital Links: Ooredoo’s OFN unit will use Iraqi fibre to extend connectivity from the Gulf through Iraq towards Türkiye and Europe, adding a route for data, cloud and telecom traffic.

Energy and Security: Qatar warned that Gulf supply disruptions could drive further global cost increases, with the economic impact still building. Doha also plans a regional defence partnership and local production hub focused on air defence, counter-drones and cybersecurity. Singapore Ties: The Amir and Singapore’s prime minister agreed to deepen economic and investment cooperation, renewing an LNG agreement and advancing a strategic partnership. Digital Economy: Qatar established a National Center for AI within MCIT, while QNB and Qatar Airways signed a global payments deal to streamline the airline’s online transactions. Lebanon Investment: Qatar’s proposed energy programme includes two power plants and a 20-year LNG supply deal, aiming to attract project financing without upfront Lebanese public spending. Property Market: Qatar recorded QR696.5 million in real estate sales, while mortgage transactions reached QR861.7 million.

Aircraft Finance: Qatar Airways has signed its first Japanese operating lease with a purchase option, financing three Boeing 787-9s as part of a seven-aircraft programme. Energy Shock: Qatar’s government revenue reportedly fell 42% in the first half as the Iran war disrupted gas exports; helium shortages have also exposed the risks to global supply chains from damage to Ras Laffan and Hormuz disruptions. Investment: Egypt has launched an investment zone for Qatari Diar’s $29.7bn Alam Al Roum project, while Qatar registered 5,000 foreign companies in three months, according to earlier reports. Trade & Industry: Milipol Qatar opens with more than 270 companies despite regional and logistical challenges. Korean premium Hanwoo beef has also entered Qatar, where more than 80% of red meat is imported, while Chinese automakers are expanding across the Gulf’s emerging EV market.

Markets: Qatar’s benchmark index fell 2% on Sunday to 8,633.57, with 43 stocks declining and market value dropping by about QR9.2bn. Trade and investment: South Korea is widening its commercial reach beyond energy and infrastructure with the launch of halal-certified Hanwoo beef in Doha. A Qatari business delegation also explored investment opportunities with France’s Provence-Alpes-Côte d’Azur region. Public finances: Qatar’s government revenue reportedly plunged 42% in the first half of 2026 as gas exports were disrupted, underscoring the economic cost of the regional crisis. Digital growth: Ooredoo has launched Qatar’s first 5G+ network, while Meeza and Microsoft are developing sovereign cloud services for local enterprises. Business environment: QNB will sponsor a Doha arbitration conference in November focused on dispute resolution and AI, as Qatar prepares to host Milipol, bringing more than 270 security companies to the city.

Digital Security: Qatar’s electronic-security market is forecast to grow from $500m in 2025 to $885m by 2032, driven by AI, infrastructure upgrades and demand for integrated systems. Trade Links: A Qatari business delegation explored investment and joint-project opportunities with France’s Provence-Alpes-Côte d’Azur region. Qatar also secured a co-chair role in the Arab Competition Network’s mergers and acquisitions group. Markets: Foreign investors withdrew a record $2.3bn from GCC stocks in Q3, but Qatar bucked the trend with $10.9m in net inflows. Public Finances: Qatar’s government revenue fell 42% in the first half as war-related disruptions hit gas exports, putting economic resilience and diversification in focus. Infrastructure: Ashghal plans school safety upgrades, new classrooms and healthcare projects as part of its next development package.

Fiscal Pressure: Qatar’s government revenue plunged 42% in the first half of 2026 as Iran-war disruptions hit gas exports. France Investment Links: A Qatar Chamber-led delegation met business and regional officials in southern France to explore partnerships and joint ventures. Competition Policy: Qatar secured the co-chair of the Arab Competition Network’s mergers and acquisitions working group. Regional Energy: Doha and Beirut advanced plans to modernise Lebanon’s power sector, with Qatar-backed financing under a build-operate-transfer model. Investment and Industry: Qatar Investment Authority added Activate Capital to its $3 billion fund-of-funds, while Qatar Development Bank expanded grants for local manufacturers.

Energy Shock: Qatar’s government revenue fell 42% in the first half of 2026 as conflict-related damage and shipping disruption curtailed gas exports. The deficit reached about QR31.5bn, while South Korean imports of Qatari LNG dropped 68.6% in January–September. Investment: Qatar’s Damaan retirement authority grew managed assets 3.4% to QR133.5bn in 2025. QIA also added Activate Capital to its $3bn fund-of-funds programme. Regional Projects: Doha agreed to finance, build and operate a major electricity upgrade in Lebanon, with a solar plant developed with TotalEnergies among the initial projects. Digital Economy: Meeza partnered with Microsoft on a sovereign private cloud service, while Ooredoo launched Qatar’s first 5G+ mobile network.

Lebanon Investment: Qatar’s prime minister said Doha will fund and operate a plan to improve Lebanon’s electricity supply, with QatarEnergy and TotalEnergies developing a solar plant. Qatar also pledged support for southern reconstruction. Digital Economy: Meeza and Microsoft are bringing sovereign private cloud services to Qatar, while Ooredoo launched the country’s first 5G+ network. Investment & Finance: Qatar’s sovereign wealth fund added US firm Activate Capital to its Fund-of-Funds programme. At IMF and World Bank meetings, Qatar also backed regional reconstruction financing and stronger investment in digital skills. Economic Outlook: Qatar’s non-hydrocarbon sectors account for about 80% of real GDP, but the Amir said government revenue fell 42% in the first half amid conflict-related disruption. The IMF warned Gulf economies face a sharp contraction this year.

Investment: Qatar registered 5,000 foreign companies in the past three months, while US venture firm Activate Capital joined the Qatar Investment Authority’s Fund of Funds programme. Markets and Banking: Qatar’s banking assets topped QR2.19 trillion; QIB reported QR3.53 billion in nine-month profit, Doha Bank QR681 million, and WOQOD QR852 million. Analysts expect investors to take a selective approach on the Qatar Stock Exchange. Digital Growth: Ooredoo launched the country’s first 5G+ network, and Meeza and Microsoft introduced a sovereign private cloud for Qatar-based enterprises. Energy and Trade: The IMF warns Gulf economies face a sharp hit from Hormuz disruption, with Qatar among countries less able to bypass the strait. Qatar Airways, meanwhile, secured its first Japanese aircraft financing deal for three Boeing 787-9s.

Markets: Qatar’s benchmark fell 2.17% this week to 8,810 points, its fifth straight weekly loss, as regional tensions and global market weakness weighed on investors. Energy: First-half government revenues reportedly dropped 42% as conflict disrupted gas exports, underscoring the economic stakes of restoring shipments through the Strait of Hormuz. Investment: US growth-equity firm Activate Capital joined QIA’s $3 billion Fund of Funds programme and plans to open its first international office in Doha. Digital Economy: Ooredoo launched Qatar’s first 5G+ mobile network, designed to support faster connectivity and business uses such as real-time monitoring and automation. Banking: Qatar’s banking assets topped QR2.19 trillion; QIB reported QR3.53 billion in nine-month net profit, while Doha Bank posted QR681 million. Technology: Meeza and Microsoft launched a sovereign private cloud for enterprises in Qatar.

Banking and Markets: QIB reported QR3.53bn in nine-month net profit and assets of QR235.5bn; Doha Bank posted QR681mn in profit, while Woqod’s profit rose 13% to QR852mn. Energy and Public Finances: Qatar’s first-half revenues fell 42% as gas exports were disrupted, even as the country resumed LNG shipments through the Strait of Hormuz using older vessels and US guarantees. Growth Strategy: The Amir said non-hydrocarbon sectors contribute about 80% of real GDP and outlined QR221bn in projects and investment opportunities over five years. Investment and Technology: Qatar Airways secured its first Japanese JOLCO financing for three Boeing 787-9s, while Meeza and Microsoft launched a locally operated sovereign cloud for regulated workloads. Qatar and China also extended their local-currency swap agreement.

Energy and Resilience: Qatar’s government revenue fell 42% in the first half as the Iran war disrupted gas exports. The Amir said non-hydrocarbon sectors account for about 80% of real GDP, with QAR221bn in projects planned over five years; QatarEnergy says expansion will continue. Manufacturing Support: Qatar Development Bank has expanded its Logistics Support Fund to QR400m, offering grants to cover up to 80% of higher shipping costs; 436 applications have been approved. Digital Infrastructure: Google Cloud has joined the Qatar Internet Exchange, promising faster, more reliable local access to its services. Finance and Aviation: Qatar Airways signed its first Japanese aircraft lease-financing deal, covering three Boeing 787-9s, as part of a programme for seven aircraft. Qatar’s central bank and the People’s Bank of China also agreed to extend their local-currency swap. Investment Links: Lesha Bank and ChinaAMC plan a Sharia-compliant China equities fund for Qatar investors.

Fiscal Impact: Qatar’s government revenue fell 42% in the first half of 2026 as the Iran war disrupted gas exports, the Amir told the Shura Council. Diversification: Non-hydrocarbon sectors now contribute about 80% of real GDP, while Qatar has identified QAR221bn in projects and investment opportunities over the next five years. QatarEnergy plans to continue expanding investment and international partnerships despite regional disruption. Economic Outlook: The IMF warns Qatar could face a double-digit contraction this year as energy production, exports and transport are hit, with a sharp rebound forecast in 2027 if conditions normalise. Trade and Industry: Qatar Chamber explored stronger trade and investment links with Portugal, while QMED 2026 opened in Doha with 55 firms from 12 countries seeking healthcare-sector partnerships.

Economic Outlook: At the Shura Council opening, the Amir said non-hydrocarbon sectors account for about 80% of real GDP and highlighted QAR221bn in projects and investment opportunities over five years. He also said regional conflict and the Strait of Hormuz closure disrupted energy exports, while government revenue fell 42% in the first half. Energy: Qatar will press ahead with LNG expansion despite the disruptions, with North Field work on schedule. A new Qatar-Saudi agreement also sets out cooperation spanning oil and gas, electricity, renewables, hydrogen and energy storage. Business: QNB Financial Services was named Qatar’s best equity broker for 2025, recognising its market research and trading services. At Hospitality Qatar, industry representatives pointed to high-tech farming, food processing and packaging as ways local firms are strengthening supply to hotels and restaurants.

Economic Outlook: The IMF raised its 2026 global growth forecast to 3.1%, but warned the Middle East faces a sharp reversal as conflict disrupts energy and shipping. Qatar is among four Gulf economies the Fund expects to suffer steep contractions this year. Hospitality Investment: Hospitality Qatar 2026 opened in Doha with 120 exhibitors, including 90 local businesses, showcasing products and services for the country’s tourism and hospitality sectors. Banking: QNB closed a $2.5bn syndicated loan facility and won seven Global Finance digital banking awards, including four for its Qatar operations. Digital Economy: Qatar told the UN that AI and digital transformation are central to economic diversification, productivity and better public services. Trade and Energy: Qatar Chamber reviewed trade and investment ties with Portugal, while Qatar and Saudi Arabia signed an energy cooperation MoU.