Saturday, June 25, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Economy & Trade

Qatar economy still strong despite sanctions

AFPbyAFP
August 16, 2017, 7:40 pm
in Economy & Trade
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

DOHA, QATAR”•Qatar’s economy has been hit by the sanctions imposed by a Saudi-led Arab bloc but the emirate’s economy is strong enough to survive, analysts say.

Since June 5, Saudi Arabia and allies Bahrain, Egypt and the United Arab Emirates shut down air, maritime and land links with Qatar, and imposed economic sanctions, accusing Doha of supporting “terrorists” and of being too close to Iran.

Qatar, denying the charges, accuses its Gulf neighbors of seeking to strangle its economy.

The heavily air-conditioned malls of Doha, a city in the throes of a $200-plus billion construction boom as it aims to make a splash on the world stage by hosting football’s 2022 World Cup, remain busy as ever, as do its roads.

To counter the sanctions and trading curbs, ally Turkey and neighboring Iran have been pouring in food supplies by air and sea.

ADVERTISEMENT

“In the medium- to long-term, perhaps people who live here will feel” the effects, but for the time being, “we haven’t felt any big difference”, said Mohamed Ammar, who heads the Qatari Businessmen Association.

For Rashid bin Ali al-Mansoori, CEO of the Qatar Stock Exchange, the worst is already over. The second most highly-capitalized bourse in the Middle East plunged seven percent on June 5 and lost almost 10 percent in the first three days.

“We were surprised and the market also was surprised, so the market really reacted to the news like any other market of course,” he said.

But “the Qatar economy is very strong, it’s the strongest economy in the region… investor trust and confidence in the market is still there,” said Mansoori.

The level, however, remains around six percent lower than during pre-crisis Qatar.

And analysts are predicting a long drawn-out crisis which will affect investor confidence, with Bloomberg assessing at the end of July that Qatar’s economy was showing “the strain.”

“Data released last week showed that foreign deposits at Qatar’s banks fell the most in almost two years last month as customers withdrew funds, pressuring liquidity available locally for businesses and the government,” it said.

Amy McAlister of consultancy firm Oxford Economics said central bank data showed reserves were running at their lowest level since May 2012, a slide of 30 percent compared with June 2016.

“Uncertainty will have prompted banks and portfolio investment funds to withdraw money from Qatar, leading to a fall in reserves as the central bank tries to ease liquidity pressures,” she said.

“The central bank will have also depleted reserves to support the currency peg to the US dollar, which has seen pressure since the dispute began.”

Tags: Bahraineconomic sanctionsEgyptQatar economySaudi ArabiaUnited Arab Emirates
ADVERTISEMENT
AFP

AFP

Related Posts

DTI reasserts duty in setting price caps

byOthel V. Campos
June 24, 2022, 9:10 pm
0
142
Exporters urged to tap plant-based meat mart

The Department of Trade and Industry upheld the validity of its function to monitor and set price ceiling on important...

Read more

Japan inflation stays at seven-year high in May

byAFP
June 24, 2022, 9:15 am
0
166
Japan inflation stays at seven-year high in May

Japan's core consumer prices jumped 2.1 percent again in May, the second consecutive monthly jump of a level not seen...

Read more

Budget deficit declined 26% in May on lower spending

byJulito G. Rada
June 23, 2022, 8:50 pm
0
155
Gov’t debt reached P11.97t in October

The government incurred a budget deficit of P146.8 billion in May, down 26.72 percent from P200.3 billion a year ago...

Read more

PH withdraws from EITI, cites ‘biased’ allegations

byJulito G. Rada
June 22, 2022, 8:30 pm
0
218
PH withdraws from EITI, cites ‘biased’ allegations

The Philippines said Wednesday it withdrew its membership from the Extractive Industries Transparency Initiative on the international organization’s alleged questionable...

Read more

DTI cites Salceda’s role in CREATE law

byManila Standard
June 22, 2022, 7:55 pm
0
182
DTI wants repeal of PSA provisions

Trade Secretary Ramon Lopez cited the legislative contributions of Albay Rep. Joey Sarte Salceda, chair of the House ways and...

Read more

Flour millers seek lower tariff on inputs

byOthel V. Campos
June 21, 2022, 6:20 pm
0
168
Flour millers defend DA against Brazil’s threat to file WTO case

Flour millers asked the government to reduce tariffs on imported ingredients for bread production to help stabilize the price of...

Read more

Stories you may like

  • Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    36718 shares
    Share 14687 Tweet 9180
  • Of course, it was BBM’s project

    30867 shares
    Share 12347 Tweet 7717
  • INC endorses BBM, Sara

    28803 shares
    Share 11521 Tweet 7201
  • Duterte’s seven biggest achievements

    21844 shares
    Share 8738 Tweet 5461
  • Marcos leads SWS survey on presidentiables at 50%

    13582 shares
    Share 5433 Tweet 3396

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • Peso fall snaps oil rollback
  • DOH: No weak surge yet despite 4-month high COVID new cases
  • Rody handling of WPS issue, oil talks hailed
  • Carlos vows HR to get protected under BBM government
  • Sandigan allows Marcoses chance to present evidence
  • End of an era: PSE floor trading no more
  • Extension of village chiefs’ term from 3 to 5 years eyed

Advertisement

Latest News

Sandigan allows Marcoses chance to present evidence

byMaricel Cruz
June 25, 2022, 1:10 am
0
321
Imelda on son’s victory: ‘I have two presidents’

The Sandiganbayan has given President-elect Ferdinand Marcos Jr. and his family another chance to present evidence in connection with a...

Read more

End of an era: PSE floor trading no more

byJenniffer B. Austria
June 25, 2022, 1:00 am
0
361
End of an era: PSE floor trading no more

The Philippine Stock Exchange, one of Asia’s oldest bourses, on Friday permanently closed down its trading floor in Bonifacio Global...

Read more

Extension of village chiefs’ term from 3 to 5 years eyed

byRey E. Requejo
June 25, 2022, 12:50 am
0
209
Vax wastage, infection surge feared in Odette-hit areas

The incoming Marcos administration is considering legislation that would extend the term of barangay officials from three years to five...

Read more

Cusi drops libel cases vs. news orgs

byManila Standard
June 25, 2022, 12:40 am
0
179
His b-day wishes made 2 Presidents

Outgoing Energy Secretary Alfonso Cusi on Friday withdrew his libel and cyber-libel complaints against seven news organizations over their stories...

Read more

Comelec dockets 17 verified cases of vote-buying

byManila Standard
June 25, 2022, 12:30 am
0
172
Comelec junks nuisance case vs. Marcos Jr.

Seventeen complaints that involve alleged vote-buying and selling are set to undergo preliminary investigations, according to the Commission on Elections...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App