News

QDB has lent QAR 9 bn to SMEs

The portfolio of Qatar Development Bank (QDB) in terms of direct lending has reached QAR 9 bn. It has issued support guarantees to more than 3,500 companies as part of a program to balance the impact of Covid-19. QDB is committed to promote and support the start-ups and small/medium sized enterprises (SMEs).

It offers subsidised lending to businesses and projects in key sectors such as agriculture,...

05/11/20

QBIC has incubated more than 180 start-ups until now

QBIC was founded in 2014 and has been investing heavily in start-ups and innovative ideas to diversify the energy-rich economy and to initiate the transformation into a knowledge-based society and a sustainable country.

In a short period of time, QBIC has had a lot of achievements with recognitions and a reputation in the State of Qatar and beyond. It has attracted more than 5,200 applications...

03/11/20

Qatar to allow foreigners to own properties in more areas

The government of the State of Qatar recently announced that it will allow foreigners (including legal and natural persons or companies and individuals) to own real estate in more areas in the country in a bid to attract foreign investment to diversify the economy.

Qatari and non-Qatari citizens may own and use residential and non-residential properties in twenty-five areas (or in other words to...

01/11/20

Qatar’s thriving FinTech scene gets global attention

The State of Qatar has identified the FinTech Industry as one of the key elements in the transition to a knowledge-based economy. The National FinTech Strategy created or developed by Qatar Central Bank (QCB) provides a framework for the local start-up sector and is part of an ecosystem to attract international FinTech’s to the country.

As a result and in order to stimulate the local start-up...

21/10/20

General tax considerations on managing working capital

From a tax compliance perspective, tax authorities around the world have been quick to respond to the current crisis mainly through short term alleviating measures such as an extension of tax filing deadlines and deferral of tax payments which has allowed businesses to adjust to new ways of working.

However, organisations should also carefully consider the relief measures embedded in the local...

20/10/20

Qatar is ideal for developing a B2B FinTech market

The State of Qatar’s demographics make the nation an ideal place for developing a robust business-to-business (B2B) FinTech market.

The FinTech industry in the country has witnessed a surge in the number of start-ups exploring the local opportunities. The Qatar FinTech Hub (QFTH) has recently attracted over 750 applications from all corners of the world.

Qatar Central Bank (QCB) has issued...

19/10/20

Qatar FinTech Hub attracts ideas from over 70 countries

The Qatar FinTech Hub (QFTH) recently announced that 24 FinTechs have been selected for the first wave of the incubation and acceleration programmes. The twelve-week programmes due to run from October to December were designed for national and international entrepreneurs who are interested to accelerate their growth.

Over the last two months, the QFTH received more than 750 applications from start-ups...

15/10/20

QBIC’s first virtual “Demo Day”

Qatar Business Incubation Centre (QBIC) recently selected the latest start-ups for investments at the first virtual “Demo Day”, a new event format with a live-stream.

It was the thirteenth round with graduates from the Lean Startup Programme (LSP).

A selection of the most promising start-ups and scale-ups pitched their ideas to the incubation committee and the audience on YouTube. Potential...

07/10/20

Integration in micro-chemical and petrochemical industries

Chemical, petrochemical and mining industries are an essential part of Qatar`s diversified economy concept, in line with the Qatar National Vision 2030.

In line with a strive for sustainable economic growth, the National Industrial Transformation Program and the existence of an industrial zone for specialised and transformational chemical industries have resulted in the integration of the energy...

03/10/20

Businesses ready for new labour reforms

Qatar's government recently announced new labour reforms which will benefit the country's job market. These reforms will protect the employees and their employers. The businesses and its leaders are prepared for the implementation.

The Ministry of Administrative Development, Labour and Social Affairs (MADLSA) stated that a non discriminatory minimum wage will be introduced and shall apply to all...

01/10/20