New York: Gold prices fell below USD 4,000 per ounce on Monday as demand for the precious metal weakened. Spot gold dropped 2.9 percent to reach USD 3,991.39 per ounce, while US gold futures declined 3.2 percent, settling at USD 4,005.70 per ounce. As for other precious metals, silver fell 4 percent in spot trading to USD 46.65 per ounce, platinum decreased 1.1 percent to USD 1,588.71, and palladium dropped 1.6 percent to USD 1,405.56 per ounce.
Doha: Qatar Free Zones Authority (QFZ) opened a world-class automotive and spare parts logistics hub at Umm Alhoul Free Zone. The strategic launch marks a significant step in reinforcing Qatar's regional leadership in mobility and expanding the capabilities of its growing mobility industries cluster within the free zones. The opening of the hub comes within the framework of the strategic partnership between QFZ and Alfardan Automotive, formalized in 2021, under a shared commitment to advance Qatar's mobility capabilities. Located near Hamad Port, ranked first in the Gulf for container port performance, the new Alfardan Automotive Trading facility spans over 67,000 square meters, including a built-up area of 12,860 square meters. It adds depth to QFZ's mobility industries cluster and specializes in automotive and spare parts logistics, servicing passenger vehicles, motorcycles, heavy equipment, and related components. The hub is designed to handle a wide range of logistics functions, including indoor and outdoor vehicle storage with a total capacity of approximately 1,500 units, as well as temperature-controlled bays tailored for luxury vehicles. The facility features a Pre-Delivery Inspection (PDI) center comprising 24 work bays dedicated to inspection, quality checks, cleaning, and accessories installation. It also houses a 5,800-square-meter Alfardan Commercial warehouse for premium tires, batteries, lubricants, and paints. The hub incorporates advanced logistics and inventory management systems to optimize import, and storage operations. Together, these capabilities position the hub as a key enabler of growth in Qatar's automotive and mobility logistics sector. HE Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani, CEO of QFZ, said: "The inauguration of Alfardan Automotive Trading's regional mobility logistics hub underscores QFZ's commitment to strengthening the nation's automotive sector and regional trade networks. With Qatar's passenger car market growth, facilities like this hub provide world-class infrastructure that supports expanding supply chains, enhances operational efficiency, and attracts local and international investors. Strategically located near Hamad Port, the hub contributes directly to Qatar's vision of becoming a leading logistics hub in the mobility and supply chain sector regionally and internationally, advancing sustainable economic growth aligned with our National Vision 2030." Omar Hussain Alfardan, Managing Director of Alfardan Corporation, commented: "Alfardan Automotive has built a long-standing legacy in Qatar's luxury automotive market, delivering cutting-edge products while maintaining exceptional customer care and industry best practices. The opening of our regional logistics hub represents an extension of this commitment, offering a qualitatively elevated level of logistical services that enhances our operational capabilities, supports our dealership networks, and complements Qatar's broader trading and economic activities. This hub reinforces the country's growth as a regional center for logistics and mobility, reflecting our shared vision for economic growth and sustainable development." QFZ remains committed to building a robust mobility industries cluster, fostering a dynamic community of leading and innovative global companies. With strategic facilities like Alfardan Automotive Trading's logistics hub, the cluster will strengthen Qatar's supply chains, attracts both local and international investors, and reinforces the country's position as a strategic gateway for logistics, mobility, and trade.
Doha: Qatar Aluminum Manufacturing Company (a Qatari public shareholding company) recorded a 24.9 percent rise in net profits during the first nine months of this year, reaching QAR 534.23 million, compared to QAR 427.71 million for the same period in 2024. The company stated in a press release published by Qatar Stock Exchange on Monday that earnings per share increased to QAR 0.096 for the period ending September 30, 2025, compared to QAR 0.077 for the same period in 2024.
QFZ opens advanced logistics hub to support transport industries
Doha: Qatar Free Zones Authority (QFZ) opened a world-class automotive and spare parts logistics hub at Umm Alhoul Free Zone. The strategic launch marks a significant step in reinforcing Qatar's regional leadership in mobility and expanding the capabilities of its...
Middle East witnesses rapid economic growth despite conflicts: IMF
Washington: There has been an acceleration in economic growth across the Middle East and North Africa (MENA) region this year, despite global uncertainty and escalating tensions and conflicts in the region, the International Monetary Fund (IMF) said in a report....
Gold prices drop below $4,000 per ounce
New York: Gold prices fell below USD 4,000 per ounce on Monday as demand for the precious metal weakened. Spot gold dropped 2.9 percent to reach USD 3,991.39 per ounce, while US gold futures declined 3.2 percent, settling at USD...
Nikkei jumps 3 percent to close at new record high
Tokyo: The Nikkei index of Japanese stocks rose by more than 3 percent, closing on Monday at its highest level ever, driven by a coalition agreement that ensures the victory of the ruling Liberal Democratic Party's leader Sanae Takaichi as...
