Newsweek International December 31, 2021

Qatar’s sizeable oil and gas reserves have helped it become one of the richest countries in the world – GDP per capita was estimated at $52,211 in 2020 – and its economy has been resilient despite years of external volatility. GDP is forecast to rebound by more than five percentage points this year as the global economy reopens and energy demand soars. But the state’s emir, Sheikh Tamim bin Hamad Al Thani, is looking further into the future, as he highlighted at the 2021 Qatar Economic Forum: “We are a natural gas exporting country, which is a low-carbon and least harmful energy to the environment, yet we are investing in research related to green, alternative and sustainable energy, and we plan to move Qatar towards that end. Moreover, we also…

Rising energy prices, major LNG projects moving forward, and strengthening regional relations are three key drivers catalysing Qatar’s recovery from the covid-19 crisis, according to a July 2021 report by PWC. The international professional services firm further noted developing trends that are boosting Qatar’s global competitiveness, including ongoing private sector development, effective fiscal management, digitisation, sustainability, and increased value creation. This economic transformation is distinctively visible in the education arena: indeed, the constitution enshrines education as a pillar of social progress and development. The 2021 budget allocates $4.8bn to the education sector, which contributes a growing share to GDP as well as providing the basis for Qatar’s long-term development. As one of Qatar’s leading companies, Taleb Group is playing a major role in this transformation. Under the visionary entrepreneurial leadership of its…

Qatar’s economy continues to expand, despite the pandemic, with the country recording a 4% year-on-year growth in the second quarter of 2021, according to official data. Meanwhile, Qatar’s construction sector is forecast to grow by a compound annual rate of 10.54% over the next five years, to reach $76 billion, according to market intelligence and advisory firm Mordor Intelligence. This is welcome news for property developers operating in the country. “Our financial results show an excellent improvement. We have met the targets we set, and in terms of achievements we’re developing at a good pace,” says Ibrahim Jassim Al-Othman, President, CEO and Member of The Board of Qatar-based United Development Company (UDC), a leading Qatari public shareholding company and one of the region’s leading real estate developers. For the first nine months…

In this excellent macro-economic environment, and given the country’s wealth, it is perhaps little surprise that Qatar has the world’s fastest-growing luxury market, according to a recent report by Mordor Intelligence. The market intelligence and advisory company stated that the luxury industry has “huge potential to grow in the country”, with expenditure on luxury goods resilient to temporary fluctuations in GDP per capita. The State’s rapidly growing population and stronger consumer purchasing power are the two main drivers behind the sector’s buoyant outlook. Not only is the domestic market booming; Qatari companies are increasingly participating in the development of the global luxury industry. Alfardan Group is at the front and centre of these developments. One of Qatar’s – and the region’s – leading family-owned conglomerates, it has created new benchmarks of…

1976 “Christmas in America wouldn’t be quite the same without The Nutcracker ballet. Along with steamy breath, crowded shops, mistletoe and ho-ho-ho, this entrancing fantasy about an ugly little doll who is transformed into a brave and handsome prince has become a staple of the holiday festivities,” said Newsweek, describing the evolution of the world-renowned show as it made its annual return to stages nationwide. After outcries against systemic discrimination, many ballet companies are modifying their productions to be more diverse and to erase acts of cultural insensitivity. 1942 “For the second time Christmas comes to America at war,” Newsweek wrote as the country was engulfed in battle with Japan. As the 2021 holiday season approaches, the Japanese-American alliance is strong, with upcoming meetings in early 2022 focusing on how to…

IN TIMES OF UPHEAVAL, SKILL SETS FLUCTUATE. New (or less-frequently used) skills may become more urgently necessary, while well-honed skills may take a backseat For years, we have studied the skills executives utilize to lead their organizations. The COVID-19 pandemic gave us our first opportunity to examine the impact of a crisis on a global scale. We surveyed over 3,026 executives worldwide in partnership with The Official Board, a global corporate directory of medium and large companies. Thirty percent of respondents were based in the United States, with the remainder representing 120 countries from every continent, except Antarctica. Respondents represented 53 key functions including CEO, CFO and CIO and more than 86 industries—primarily banking, insurance, financial services, consulting and telecommunications. Notably, 84 percent of respondents offered text responses that elaborated…