DOHA: Qatar is expected to base its state budget for the fiscal year starting in April on an average oil price of $45 per barrel, down from $65 assumed in the current year’s budget, said a Qatari energy industry source.
“This year’s budget is based on $45 a barrel oil, which is conservative and will help keep growth on track,” said the source, who is involved in reviewing aspects of the budget.
In the April-June quarter of the current fiscal year, actual state spending fell 6.6 percent from a year ago to 38.8 billion riyals ($10.7 billion) and the government enjoyed an actual surplus of 79.0 billion riyals, according to the latest data.
In the past, the ministry has not routinely disclosed the oil prices on which it bases its budgets.
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Qatar budget to be based on $45 oil
Qatar budget to be based on $45 oil
DP World announces new leadership appointments
DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.
Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.
Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.
Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.
DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.
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