Hussain Al Kooheji was the fastest Bahraini in the first of two qualifying sessions, clocking two minutes and 10.693 seconds on the ninth lap.

Other Bahraini riders were Ali Khalaf, who was 14th fastest in 2:23.812, Ahmed Khalaf (2:25.590) was 15th and Abdulghaffar Al Bastaki (2:28.409) 16th.

In the second qualifying, which was held over 20 minutes, Al Kooheji was again in peak form and improved on his previous timing. He clocked 2:11.225 which was the sixth fastest in qualifying.

Ali Khalaf was 12th in the same session in 2:12.500, followed by Al Bastaki and Ahmed Khalaf in 14th and 16th.

The Bahraini team arrived at Losail International Circuit one day before the qualifying sessions to test their bikes.

Today’s programme begins at 9.10am with the ‘test and tune’ session for participants in the super bike category, to be followed by the first race of 15 laps at 10.50am.

After the first race, a press conference will be addressed by vice-president of the International Automobile Federation (FIA) and chief of the Qatar Motor and Motorcycle Federation (QMMF) Nasser bin Khalifa Al Attiya.

Al Attiya, a former rally driver, will announce the launch of a new series that will involve riders from Bahrain and Qatar after the success of the Six-Hour Bike Festival held recently at the Bahrain International Circuit in Sakhirl

In that event, Qatar’s QERT emerged winners in the STK Category while Bahrain’s BMC team finished sixth.

This championship is organised by the QMMF in co-operation with the FIA. The series features seven events and the points obtained in each race will count toward the championship.

Every event will take place in accordance with the sporting code and regulations established by QMMF and FIA’s international sporting code.

The second race of the series is scheduled for January 8 next year while race three will take place on January 21 and 22.

The fourth race is set for February 18 and 19, the fifth is on April 8 and 9, the sixth is scheduled for May 6 and 7 while the seventh and final event of the season will be held on May 27 and 28.
[Read More]

The delegation is headed by Abdullah Al Bander and includes representatives from 13 provinces of Iraq. The Commission was established by the government of Iraq and is responsible for attracting foreign direct investment in Iraq.

The Commission operates with branches in all of Iraq’s 13 provinces and assists the Iraqi government in creating the strategic investment policy of the country. The Commission’s vision is to lead the development private sector activities and to be a unique service provider and facilitator for the business community in the country.

The main purpose of the visit is to identify and attract Qatari companies and investors looking for investment opportunities and promote the prospects and vast markets open to business in Iraq.[Read More]

A banker with a lead arranger said the firm was eyeing a two-tranche dollar bond issue, comprising a $500 million (Dh1.8 billion) six-year part and an up to $750 million 15-year bond.

Last week, Qtel launched a $500 million six-year bond and a $1 billion 10-year bond priced at 3.375 per cent and 4.75 per cent respectively.

Attractive pricing

Demand for the issue was more than 10 times oversubscribed, as bids exceeded $15 billion.[Read More]

This contract gives InfoVision Consultants the opportunity to expand its business in Qatar.

With this new partnership InfoVision Consultant can continue its role in quality, environmental, occupational health and safety, laboratory, IT services and security and food safety management systems. [Read More]

PETALING JAYA: Construction and property developer WCT Bhd is on the right track to achieve its target order book of RM2bil this year after clinching another new project last Friday from Malaysia Airports Holdings Bhd (MAHB).

As said by its deputy managing director Goh Chin Long during the AGM in May, the group was targeting to secure RM2bil worth of projects this year locally and internationally to add to its existing order book of RM3.2bil.

CIMB Research report had stated on Monday, that the award of the integrated complex for the new Low-Cost Carrier Terminal (LCCT) at the KL International Airport (KLIA) in Sepang was giving a “double positive” for WCT as it boosted the group’s construction order book by 21% to RM2.9bil. [Read More]

The law, which is effective from 1 January 2010, introduces a flat rate of corporate income tax of 10 percent for companies licensed to operate in the QFC. The law has been published in the Official Gazette.

Commenting on the enactment of the law, Finbarr Sexton, Senior Tax Partner at Ernst & Young Qatar, said in a statement issued yesterday: “The enactment of the QFC tax law follows a collaborative and consultative process between the Ministry of Finance, the QFC tax department, professional firms and other interest groups in Qatar and the result is a progressive and well drafted law. Its enactment brings certainty for multinational financial services companies operating in the QFC regarding the tax position of their activities and, given the low corporate income tax rate of 10 percent, will serve to further promote Qatar as a location for financial services companies in the Middle East.” The QFC tax law sees the establishment of a stand-alone QFC tax department separate from the state tax department. The tax system is that of a self-assessment regime whereby the responsibility is placed on companies to file their own tax returns and pay the appropriate tax by the due date. Importantly, the law also allows for tax returns to be filed electronically.

Regarding the benefits which companies can obtain under the QFC tax law, John Bradley, Senior Director at Ernst & Young Qatar, adds: “The QFC law is based on modern tax principles. In addition to providing tax exemptions for certain dividends and profits on share disposals, it enables companies to avail of reliefs and benefits under Qatar’s rapidly growing Double Tax Treaty Network. With double tax treaties already concluded with countries such as Luxembourg, the UK, Singapore, Switzerland and the Netherlands, Qatar is now well placed to serve as a financial services hub in the Middle East. “ [Read More]

Mubarak A Al Hajri, QP’s Operations Manager at Offshore Fields who is also the Chairman of the Advisory Board of the Conference, has presented before reporters QP’s gains and the measures they have introduced for industrial safety and workers’ welfare.

Al Hajri cited QP’s significant projects on their offshore operations, production gains as a major industry player, health and safety and environment and measures and the company’s Qatarisation strategy.

As part of the health and safety and environment, QP has reduced gas flaring by 30 percent last year and aims to maintain that achievement this year since this resulted to 1.4 million man-hours without lost time incidents. As part of its Qatarisation strategy, QP has has already hired 20 percent Qataris of its work force in offshore operations and they expect an increase of 24 percent by the end of this year and 33 percent by 2014. [Read More]

Mourjan Marinas IGY began work on the first marina on Monday and expects construction to be completed in time for Qatar National Day in mid December.

The company will design, construct and operate all the marinas in the development and has already begun leasing berths to the public.

The marina will also include 96 modern floating marina berths, suitable for yachts of 10m to 40m in length, three on-water lounge areas, a shisha café, a juice bar and a family lounge area. [Read More]