World Business

New York: Elon Musk's SpaceX has bought $17 billion worth of spectrum licenses from US operator EchoStar, as part of its plan to strengthen Starlink network operations, the two companies announced in a statement Monday. The deal will enable EchoStar's Boost Mobile subscribers to access SpaceX's Starlink direct-to-cell service, the statement said, without the need for an additional dedicated terminal. SpaceX launched its first direct-to-cell satellites in early 2024. In addition to text messages and alerts, customers of the Starlink "direct-to-cell" network now have access to applications, social networks, and messaging platforms in remote areas, SpaceX says on its web site. To offer these services, the company has partnered with ten operators, present in North and South America, Australia, Japan, as well as Switzerland and Ukraine. "More than 50 percent of the world's land mass remains uncovered by terrestrial services," SpaceX says on its web site. "To that end, as we develop and deploy the next generation Direct to Cell constellation, we remain committed to working with mobile network operators globally to continue delivering ubiquitous coverage to as many customers as possible." In pre-market electronic trading on the New York Stock Exchange, around 1200 GMT, EchoStar shares rose 22 percent to $82.

Qatar Business

Doha, Qatar: Great Place to Work announced its 2025 Best Workplaces in Asia, a ranking based on confidential surveys that represent the experiences of nearly 7.5 million employees across the region. More than 3.2 million individual survey responses shaped this year’s list, spotlighting companies where employees report higher levels of trust, well-being, and workplace satisfaction compared to the typical workplace in the region. Among those recognised are several companies operating in Qatar, including Hilton, DHL Express, Marriott International, BFL Group, Cisco, IHG Hotels & Resorts, Chalhoub Group, Al Mana Restaurants & Food Co., Delivery Hero, Alshaya Trading Co., Astrazeneca, and GAC. “Organisations from Qatar achieved recognition on the Best Workplaces in Asia 2025 list through their strong commitment to fostering positive workplace cultures, employee well-being and innovative management practices,” Jules Youssef, Managing Director of Qatar, Oman, Kuwait and Bahrain, Great Place To Work Middle East, told The Peninsula. “The participation of a significant number of Qatar-based companies highlights the country’s expanding and competitive business ecosystem.” Read Also QRCS, Sidra Medicine deliver QR45m medical aid to Syria MoT Strategy 2025-30 with 125 projects to develop mobility industry Qatar banking sector loan book up 1.1% to QR1,406.9bn GTA provides support to taxpayers regarding financial penalty exemption initiative According to Youssef, such acknowledgement carries weight beyond individual companies. “This recognition is crucial for Qatar’s economy as it enhances global reputation, attracts international talent and investment,” he noted. “It also underscores the nation’s focus on creating dynamic and high-performance work environments, which are among the most vital factors that can contribute to an estimated 50 percent growth in productivity and a significant rise in foreign direct investment.” Findings from Great Place To Work Middle East reveal that workplaces in Qatar strike a balance between trust, culture, and employee well-being, aligning with regional benchmarks while also demonstrating unique strengths, particularly in employee recognition. Using Emprising, Great Place To Work’s advanced survey platform, organisations can analyse trust levels via the Trust Index survey, allowing for targeted cultural improvements. Notably, Qatar’s trust scores are about 12 percent higher than the regional average, highlighting areas where the country’s firms excel. “These precise, measurable insights empower Qatari organisations to strengthen their competitiveness regionally and globally,” Youssef explained. “By fostering healthier, more engaged workplaces, they can attract and retain top talent while contributing to the country’s economic growth through a strong, trusted workplace culture.” Looking ahead, officials remark that Qatari companies are well-positioned to leverage their placement on the Best Workplaces in Asia list as a powerful recruitment and branding tool.

Qatar Business

Doha, Qatar: Banks in Qatar witnessed an uptick in loans driven by the public sector to QR1,406.9bn showing a surge of 4.5 percent year-to-date (YTD) while private sector loans displayed flat performance in July this year. The banking sector loan book increased by 1.1 percent month-on-month (MoM) while deposits remained flat MoM (rise of 2.1% versus year-end 2024), in July 2025. With loans growth outpacing deposits during July 2025, the loans to deposits ratio (LDR) came in at 134.3 percent versus 132 in June 2025. The loans grew by an average 5.4 percent over the past five years (2020-2024), according to QNB Financial Services (QNBFS) monthly banking sector indicators. The banking sector total assets remained flat MoM (moved up by 3.4 percent versus year-end 2024) in July 2025 at QR2.117 trillion. The assets grew by an average 5.7 percent over the past five years (2020-2024) and liquid assets to total assets stood at a healthy 31 percent level in July 2025 While the public sector deposits climbed up by 0.6 percent MoM (rise of 3.4 percent versus FY2024) in July 2025. Looking at segment details, the government segment (represents 34 percent of public sector deposits) moved up by 1.6 percent MoM (increase of 4 percent versus FY2024). On the other hand, the government institutions’ (represents 54 percent of public sector deposits) was flat MoM (up by 4.1 percent versus FY2024), while the semi-government institutions’ segment (represents 12 percent of public sector deposits) increased by 1.9 percent MoM (a decrease of 1.6 percent versus FY2024) during July 2025, the report noted. The non-resident deposits contracted by 3.2 percent MoM (decline of 2.2 percent versus FY2024) during July 2025. Non-resident deposits as a percentage of declined from 19.2 percent in June 2025 to 18.7 percent in July 2025 (FY2025: 19.5 percent). The private sector deposits remained flat MoM (up by 2.9 percent versus FY2024) in July 2025. On the private sector front, companies and institutions was flat MoM. Moreover, the consumer segment also remained flat MoM (up by 5.2 percent versus FY2024). The government segment (represents 35 percent of public sector loans) was the main driver for the public sector gains with an expansion of 7.2 percent MoM (up by 32.7 percent versus YF2024), while the government institutions segment (represents 61 percent of total public sector loans) increased by 3.3 percent MoM (up by 0.4 percent versus FY2024). Further, the semi-government institutions segment contributed immaterially, moving up by 1.1 percent MoM (decrease of 0.9 percent versus FY2024) during July 2025. The total private sector loans were flat MoM (increased 2.6 percent versus FY2024) during the month of July with negligible contribution across all segments. Outside Qatar loans were flat MoM (flat versus year-end 2024) in July 2025. QNBFS further noted that the Qatar banking sector loan provisions to gross loans moved up to 4.2 percent MoM in July 2025, compared to 3.9 percent as of year-end 2024. Loan provisions have increased 11.8 percent versus year-end 2024 as banks have been provisioning for Stage 2 and Stage 3 loans mainly emanating from contracting and real estate sectors. On a positive note, Stage 3 loans have remained stable. Meanwhile the banking sector liquid assets to total assets stood at 31 percent in July versus 32 percent in June, which remains in a strong position.