Qatar tribune QNA doha Qatar’s economy has achieved significant multi-sector milestones steered by the Qatar National Vision 2030, with the Gulf state remarkably transforming from a predominantly hydrocarbon-based economy into a diversified and knowledge-based one. An International Monetary Fund (IMF)’s outlook for Qatar says the country would see a two percent 2024-25 real GDP growth, driven by “public investment, spillovers from the ongoing LNG expansion project, and strong tourism”. The final statement for the IMF’s Article IV consultation mission in Qatar projected a medium-term annual growth of about 4.75 percent, supported by the significant North Field expansion project, totaling the country’s annual LNG production to 142 million tons per annum (mtpa) and the Third National Development Strategy (NDS-3). This growth is manifested across all Qatar’s dynamic economic sectors, especially in energy, with the latter achieving oil, gas and petrochemical milestones both locally and abroad. QatarEnergy plays a leading role in optimally investing the country’s natural resources of oil and gas, in accordance with the QNV 2030. Besides the North Field LNG expansion project, the energy giant is also in partnership with ExxonMobil for the Golden Pass LNG export terminal on the US Gulf Coast near Sabine Pass, Texas, with annual capacity of 18 mtpa. In September 2024, QatarEnergy held a naming ceremony for six LNG carriers as part of Doha’s 128-vessel shipbuilding program. In February 2024, HH the Amir Sheikh Tamim bin Hamad Al-Thani laid the foundations for the Ras Laffan petrochemicals complex, a huge venture consisting of the Middle East’s largest ethane cracker and one of the largest worldwide with a capacity of 2.1 million tonnes a year of ethylene.Turning to clean energy, under the patronage of HH the Amir Sheikh Tamim bin Hamad Al-Thani, HH the Deputy Amir Sheikh Abdullah bin Hamad Al-Thani recently laid the groundbreaking for the Blue Ammonia Plant project. The world’s largest of its kind, the project in Mesaieed is a significant QatarEnergy milestone to produce low-carbon ammonia, a key solution in the clean energy transition. The plant will be supplied with more than 35 MW of electricity from the solar power plant currently under construction in Mesaieed Industrial City. World-class solar projects in Al Kharsaah, Ras Laffan, Mesaieed and Dukhan will double the country’s solar power generation capacity to around 4,000 MW by 2030.Meanwhile, QatarEnergy, supported by the directives of the country’s wise leadership, is expanding its exploration and drilling operations in a bid to achieve further growth. Qatar Energy pays great attention to enhancing the country’s LNG production capacity as the key tributary to the GDP in addition to petrochemical industries. In this regard, it has built partnerships with many international companies, one of the most important returns of which was the transfer of knowledge to a new generation of Qatari youth. Under the generous directives of HH the Amir, QatarEnergy has charted out a new path that will put it on the road to becoming one of the best energy companies in the world. It has adopted an updated business strategy based on its recent progress, taking into account supply and demand, potential risks and opportunities, and global trends, especially with regard to efforts to low-carbon energy transition. In this context, it has worked to pay attention to sustainability issues, as QatarEnergy launched its updated sustainability strategy that emphasizes its commitment, as a major energy producer, to responsible production of clean energy at affordable prices to facilitate the transition to low-carbon energy. QatarEnergy has also been guided in implementing its work and projects by the basic principles and pillars on which the QNV 2030 was built, enhancing its role in supporting and enriching the national economy, supported by its leading position among the largest LNG producing and exporting countries.Through its corporate strategy and values, it has also worked to maximize the value of Qatar’s assets, create a wide-ranging international portfolio, maximize the added value of petrochemical industries, support energy efficiency, and achieve the optimal energy mix in Qatar. QatarEnergy has also paid great attention to supporting and developing human capital, especially Qatari employees in various energy sector companies, and has supported efforts to develop its employees’ expertise and raise levels of leadership development to achieve the highest levels of performance. It has also established a unique work culture through corporate values that form part of the daily lives of all its employees, built on solid foundations of integrity, safety, excellence, cooperation, responsibility, and respect. The number of new companies registered on the Qatar Financial Centre (QFC) platform in 2024 exceeded 760 up from 327 in 2023, a more than 130 percent increase bringing the total number to over 2,200 companies. The businesses mostly from the UK, France, Jordan, India, the US are operating in various sectors such as consulting services, financial technology, information technology, innovation and others. IT companies made the largest number on the QFC platform benefitting from the QFC’s active involvement in the Doha-hosted Web Summit 2024 in February. The companies that registered during the summit were offered exceptional incentives as part of a QFC strategy alluring foreign investments, diversifying the national economy, and supporting the state’s efforts to become a regional IT hub. In 2024, the QFC signed more than 15 MoUs with prestigious local and international institutions, including Qatar Islamic Bank (QIB), Masraf Al Rayan, Meeza, Hashgraph Association, Chartered Institute for Securities and Investment, the Financial Services Development Council of Hong Kong, the Canadian Arab Business Council, and Casablanca Finance City. With the aim of facilitating the establishment of businesses in Qatar, the QFC signed an MoU with the Qatar Media City, and a cooperation agreement with the Qatar Science and Technology Park. The QFC organized a number of important events, primarily the Qatar Financial Market Forum 2024 in collaboration with Bloomberg under the title “Trends Shaping Emerging Markets & Sustainable Infrastructure and Mobility”. The QFC also hosted the 20th Corporate Registers Forum Annual Conference 2024, held for the first time in the State of Qatar, with the attendance of prominent figures representing more than 50 member countries of the Forum, partner organizations, a number of business leaders and industry experts and specialists. Copy 17/12/2024 10
AP Business SummaryBrief at 4:06 p.m. EST
2024 Community Health Assessment released for 5 Helena-area countiesConnor Gaydos, a man connected to an apparent parody project to relaunch the energy company Enron and become its new CEO , was hit in the face with a pie this week as he was entering a building in New York City. The incident was caught on video and went viral on social media Thursday. The clip shows Gaydos exiting an SUV shortly before an older man slams the pie into his face as two bodyguards intervene. The bizarre incident mirrored one from more than two decades earlier, when a California woman tossed a pie into the face of Enron’s then-CEO Jeffrey Schilling . Earlier this month, a group announced the scandal-plagued Texas company was returning exactly 23 years after filing for bankruptcy amid massive fraud. “With a bold new vision, Enron will leverage cutting-edge technology, human ingenuity, and the spirit of adaptation to address the critical challenges of energy, sustainability, accessibility and affordability,” the company said in a press release that raised questions about its legitimacy. The announcement was reportedly joined by billboards in the Houston area, a full-page ad in the Houston Chronicle and a video promoting the company’s comeback. An investigation conducted by Houston station KHOU turned up a disclaimer on the company’s website that read, “The information on the website is First Amendment-protected parody , represents performance art and is for entertainment purposes only.” Many have speculated the company’s reemergence is merely a publicity stunt promoting cryptocurrency .