
Qatar's airspace returns to normalcy
In a post on X platform, the QCAA praised the great cooperation shown by all partners and the efforts of all government agencies to ensure aviation safety and security in Qatari airspace, according to the Qatar News Agency.
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Zawya
8 hours ago
- Zawya
South Africa continues to engage the United States (US) government on the reciprocal tariffs
President Cyril Ramaphosa notes with concern the reciprocal tariffs imposed by the United States (US) on South African products. The reciprocal tariffs have been imposed by the US on a significant number of its trade partners and South Africa has not been spared. South Africa will continue negotiating with the US regarding the 30 percent tariff announced by the US, which will come into effect on or after 12h01 eastern daylight time, 7 days after 1 August 2025. All applicable exceptions published in the previous US Executive Order are set to remain in force and these exceptions covered products such as copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, stainless steel scrap and energy and energy products. Government has been engaging the United States, and has submitted a Framework Deal that aims to enhance mutually beneficial trade and investment relations. All channels of communication remain open to engage with the US and our negotiators are ready pending invitation from the US. In the meantime, Government is finalising a package to support companies that are vulnerable to the reciprocal tariffs. The package consists of a number of measures to assist companies, producers and workers affected by the tariffs on SA exports to the US. The details of the measures will be announced in due course. South Africa and US trade relations are complementary in nature and South African exports do not pose a threat to US industry. Importantly, SA exports to the US contain inputs from the African Continent and contribute to intra-Africa trade. South Africa will continue to pursue all diplomatic efforts to safeguard its national interests. It is important that as a country we keep our people at work and our companies producing some of the high-quality products destined for many parts of the world. To this end, Government will intensify its diversification strategy to create resilience of our economy and is working with export councils and industry associations, as well as top exporters to the US with a view to assist with alternative markets. In this regard, an Export Support Desk to provide updates on development and provide advisory services to exporters has been established. The details are to be published by the Department of Trade, Industry and Competition on its website. Government, through the dtic is also in constant contact with the US on the Framework Deal. The Executive order published by the United States today clarifies that goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12h01 eastern daylight time, 7 days after 1 August 2025, and entered for consumption, or withdrawn from warehouse for consumption, before 12h01 eastern daylight time on 5 October 2025, shall not be subject to such additional duty and shall instead remain subject to the additional ad valorem duties previously imposed in Executive Order 14257, as amended. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.


Zawya
8 hours ago
- Zawya
3,500 jobs at risk at ArcelorMittal South Africa's steel operations
ArcelorMittal South Africa said it is still on track to close its loss-making long steel operations in September, as talks with the government have not provided a solution. The steelmaker also posted a half-year headline loss of R1.014bn, slightly narrower than a R1.1bn rand loss reported previously, on persistently low sales volumes and low prices. Its revenue fell 17% to R17bn, and sales volumes declined 11% to 1.05 million metric tonnes due to weak demand from key steel-consuming sectors in South Africa. ArcelorMittal South Africa has twice deferred the closure of its long steel plants in Newcastle and near Johannesburg, initially announced in November 2023, to allow talks with the government aimed at saving 3,500 direct jobs. "In the absence of a sustainable solution, the final wind-down of the longs business remains scheduled for 30 September 2025," the company said in a statement. South Africa's trade and industry minister, Parks Tau, told lawmakers on 4 July that the government was in 'firefighting mode' as it tries to avoid the plant closures. The company says its long steel operations are buckling under the pressure of weak local demand, high electricity tariffs, poor freight logistics, competition from local scrap metal recycling mini-mills and imports from China. The long steel plants supply rail, roads and bars to the construction, mining and manufacturing sectors, as well as components for the automotive industry.


Zawya
9 hours ago
- Zawya
Qatar's QSE index gains 6.53% since start of 2025
Doha: The Qatar Stock Exchange (QSE) ended this week on a positive note, rising by 0.360 percent, or 40.86 points, to close at 11,261 points - up from last week's closing- supported by gains across five sectors, led by the telecommunications sector, which recorded the highest increase at 3.620 percent. Commenting on the market's performance this week, financial market analyst Youssef Bouhlaiqa told Qatar News Agency (QNA) that QSE index held steady above its key support level of 11,200 points throughout the week. He noted that the index gained approximately 6.53 percent since the beginning of the year. Bouhlaiqa highlighted strong performance of the banking sector, which saw a 1.4 percent rise in net profits during the first half of 2025 compared to the same period last year, reaching QR15.1bn. Eight out of nine banks listed on QSE reported profit growth in the first six months of the year. Notably, Lesha Bank posted an impressive 52.29 percent increase in net profit. Qatar National Bank (QNB) accounted for the largest share of the sector's net profits, contributing 54 percent, with net profits reaching around QR8.4bn, a 2.93 percent year-on-year increase. Bouhlaiqa emphasized that the sector's positive performance underscores the resilience and strength of Qatar's banking industry, and its ability to adapt swiftly to changing local market conditions. Total trading value over the past week stood at approximately QR1.979bn, with a daily average of around QR396m, while the total number of transactions across all sectors reached 89,525. Qatar Stock Exchange general index closed yesterday's trading higher by 112.16 points, or 1.01 percent, to close at 11,261.62 points. During the session, 193,609,425 shares, valued at QR621,549,135.910, were traded in 21,682 transactions across all sectors. The session saw shares of 25 companies rise, 24 companies decline in their share price, and 3 companies maintain their previous closing price. Market capitalization at the end of the trading session amounted to QR668,298,298,297, compared to QR662,441,971,650 in the previous session. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (