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Wednesday, 18 February 2026

#Qatar Airways’ New CEO Prioritizes Better Airbus Relations - Bloomberg

Qatar Airways’ New CEO Prioritizes Better Airbus Relations - Bloomberg


About a month into his tenure as Qatar Airways Group’s chief executive, Hamad Al-Khater made certain his first overseas trip took him to the French headquarters of planemaker Airbus SE.

The companies have had a notoriously contentious relationship in recent years, but Al-Khater described his January meeting with planemaker CEO Guillaume Faury in Toulouse as “brilliant” and “fantastic.” Faury then accompanied German Chancellor Friedrich Merz to Qatar a couple of weeks ago, and the two corporate heads had a follow-up lunch there.

“Airbus is a long-standing partner, they’ve been with us since the beginning,” Al-Khater, 40, said in his first interview since being appointed to the top job in December. “They’ve demonstrated that commitment that they’ll be able to deliver on the promises.”

The European manufacturer’s planes were among the first to fly for Qatar Airways, and they now comprise about half of its fleet. The carrier has more than 60 jets on order and expects deliveries of additional widebody A350 and the narrowbody A321LR this year — a timeline discussed during the meetings in Toulouse.

The arrangement between the two companies hasn’t always been smooth. In 2022, the two sides faced off over what the carrier called flaking paint on its A350 jetliners, a defect Airbus said wasn’t its fault.

The dispute escalated to a point where Airbus retaliated by canceling Qatar’s orders for the sold-out A321 model. It even drew in French President Emmanuel Macron, who discussed the situation with Qatar’s Emir Sheikh Tamim bin Hamad al-Thani during a visit to Doha.

Then after a settlement in 2023, the A321 orders were reinstated, though Qatar hasn’t ordered additional Airbus jets since, instead placing a mammoth deal last year with archrival Boeing Co.

Qatar Airways expects the first batch of the A321 to arrive in the fourth quarter, expanding its options for secondary cities in Europe and emerging ones in China. Al-Khater said the narrowbodies should have new configurations in the business and economy cabins.

“It’s going to be a game changer from my network perspective, which really opens up the landscape for us,” Al-Khater said during an hour-plus interview at company headquarters in Doha.

When it comes to the Rolls-Royce Holdings Plc engines fitted on the A350-1000s, the airline is confident in the manufacturer’s ability to meet the “slightly acute challenge” with the XWB-97 variant, Al-Khater said.

The larger turbine has received scathing criticism from Emirates President Tim Clark, who has faulted Rolls-Royce for subpar durability and then refused to order Airbus’s largest production plane.

Rolls-Royce officials visited the Qatari capital recently to assure the carrier.

“There’s more work to be done on that front,” Al-Khater said. “We’re in a safe space as Qatar Airways.”

The new CEO is the airline’s second in three years. Before his appointment, Al-Khater was the chief operating officer at Hamad International Airport, the Middle East’s second-busiest hub after Dubai and part of the corporate group.

Previously, he worked more than eight years at QatarEnergy, focusing on giant state projects and global initiatives.

Al-Khater sees growth coming from “insatiable” India, Australia, Africa and the surrounding Gulf states. Nations in the region are spending billions of dollars to pivot from their dependencies on oil and morph into tourism, commercial and financial hubs.

Doha alone handled 55 million passengers last year.

“Harmonizing” and refreshing the existing fleet tops Al-Khater’s agenda. Planes have an average age of just 10 years, so older aircraft remain outliers. Those will be phased out as Qatar Airways ramps up to nearly 400 jets by 2040.

“At this stage in time, it’s a continuous evaluation of our fleet order,” Al-Khater said.

Qatar Airways is hoping to receive the first batch of widebody 777Xs next year from Boeing, from whom it ordered a record 210 twin-aisle jets during US President Donald Trump’s Mideast visit in May.

“With Kelly’s leadership over the last two years, we’ve seen significant improvement that’s really provided us with the assurances from Boeing to start supplying us with timely deliveries,” Al-Khater said, referring to Boeing CEO Kelly Ortberg.

#Dubai Financial Market Index Surges on Property, Banking Gains in 2024 - Bloomberg #UAE

Dubai Financial Market Index Surges on Property, Banking Gains in 2024 - Bloomberg


Dubai stocks are off to their strongest start in 12 years as investors bet on the emirate’s resilient economy and look beyond volatile oil and artificial-intelligence trades.

The Dubai Financial Market General Index, which includes companies like Emirates NBD Bank PJSC and Emaar Properties PJSC, has gained more than 11% this year.

The move builds on the benchmark’s blistering 300% rally that started almost six years ago, powered by growing consumption, a property boom and expanding financial services. While oil remains the main engine of growth for markets like Saudi Arabia and Abu Dhabi, Dubai generates 95% of its gross domestic product from sectors such as real estate, financials and retail.

“I would highlight the strength of Dubai’s non-oil growth model as a key differentiator versus neighboring markets,” said Dominic Bokor-Ingram, a fund manager for emerging and frontier markets at Fiera Capital in London.

Banks and Real Estate
About 60% of this year’s gains have come from Emirates NBD and Emaar group.

Emirates NBD is up 33%, with analysts pointing to strong net interest margins and loan growth. Emaar companies, known for the world’s tallest building Burj Khalifa and Dubai Mall, have also posted double-digit gains on solid earnings as the property boom continues, despite concerns about oversupply in the luxury segment.

The UAE as a whole is set to outpace regional peers on growth, according to Bloomberg Intelligence. The International Monetary Fund forecasts real gross domestic product growth of 5% in 2026.

The strong economy translated directly into company performance, according to Bokor-Ingram. “Population growth, tourism and increased urban activity are clearly visible in revenue and earnings growth for listed names,” he added.

Valuations of the market also remain attractive. The Dubai stock benchmark has risen more than 18 times as much as MSCI Inc.’s emerging-market index over the past five years. Yet, it is currently trading at 11 times forward earnings, which compares to 13 times for developing-markets peers.

Not all investors are convinced the outperformance can continue. Dubai may lag behind larger emerging-markets peers that benefit from AI advances, especially as its biggest companies grow at a slower pace by comparison, according to Sebastian Kahlfeld, a portfolio manager at DWS.

Still, he sees the market benefiting if investor interest in AI-exposed companies gets weaker or breaks. The emirate’s strong growth and lack of reliance on volatile commodities like oil are also set to support its stock market in the months ahead.

“Absent a major local security shock or a global credit disruption there is little to stop Dubai asset prices continuing to climb higher,” said Hasnain Malik, head of emerging-markets equity and geopolitics strategy at Tellimer.

#Saudi's Humain invested $3 billion in xAI's Series E funding round | Reuters

Saudi's Humain invested $3 billion in xAI's Series E funding round | Reuters

Saudi Arabia's Humain, the kingdom's artificial intelligence company, said on Wednesday it had invested $3 billion in Elon Musk's xAI as a part of its Series E funding round just prior to its acquisition by SpaceX.

The investment made Humain a "significant" minority shareholder, with its xAI holdings converted into SpaceX shares, it said.

Saudi Arabia is boosting its artificial intelligence ambitions as it seeks to capitalize on the growing demand for compute capacity and diversify revenue sources away from oil.

The investment builds on the partnership announced between Humain and xAI in November at the U.S.-Saudi Investment Forum where both firms said they would jointly develop 500 megawatts of AI data center infrastructure.

In January, xAI said it raised $20 billion in an upsized Series E funding round as the company ramps up deployment of new models and infrastructure to get ahead of competitors OpenAI and Anthropic.

A month after the fundraise announcement, Musk's SpaceX acquired xAI in a massive consolidation move that combines the billionaire's artificial intelligence startup with his space and rocket firm.

Most Gulf markets gain on signs of progress in US-Iran talks | Reuters

Most Gulf markets gain on signs of progress in US-Iran talks | Reuters


Most Gulf stock markets ended higher on Wednesday after Iran touted progress in nuclear negotiations with the United States.

Iran's foreign minister said after talks in Geneva on Tuesday that Tehran and Washington had reached an understanding on the main "guiding principles" for resolving their longstanding nuclear dispute, easing fears of a military conflict.

Crude prices - a catalyst for the Gulf's financial markets - gained more than 1% after falling in the previous session as investors assessed developments in Russia-Ukraine and U.S.–Iran talks.

Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.5%, snapping a three-day losing streak, led by a 1.7% rise in the country's biggest lender by assets Saudi National Bank (1180.SE), opens new tab.

Elsewhere, oil behemoth Saudi Aramco (2222.SE), opens new tab finished 0.6% higher.

GCC stock markets were mostly higher, supported by encouraging signals from the U.S.–Iran meetings. The improved mood offered a break from the recent risk-off sentiment driven by heightened regional geopolitical tensions, said George Pavel general manager at Naga.com Middle East.

Dubai's main share index (.DFMGI), opens new tab advanced 1.2%, buoyed by a 3.4% gain in blue-chip developer Emaar Properties (EMAR.DU), opens new tab and a 3.9% leap in budget airliner Air Arabia (AIRA.DU), opens new tab.

Pavel said the Dubai market seems well placed to sustain its upward momentum, backed by sound fundamentals and robust economic forecasts for the year.

In Abu Dhabi, the index (.FTFADGI), opens new tab climbed 1.2%, outperforming Gulf peers, with Aldar Properties (ALDAR.AD), opens new tab rising 2%, after the developer announced a mid-rise residential project in Dubai as part of its joint venture with Dubai Holdings.

Meanwhile, Iran and Russia will conduct navy drills in the Sea of Oman and the northern Indian Ocean on Thursday, the Iranian semi-official Fars news agency reported, a few days after Revolutionary Guards conducted military drills in the Strait of Hormuz.

The Qatari index (.QSI), opens new tab added 0.2%, with the Gulf's biggest lender Qatar National Bank (QNBK.QA), opens new tab putting on 0.6%.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab finished 0.8% higher.