Economy

Qatar Airways profits $540 million, braces for Gulf crisis

Qatar Airways profits $540 million, braces for Gulf crisis”

Stating that his company would enhance the animal husbandry activities 50 kilometers away from Doha, the capital of Qatar, "We will probably start to produce milk as of the middle of July", Qatari businessman al-Khayyat said.

The US president was weighing in on an ongoing diplomatic rift between Qatar and Saudi Arabia, Bahrain, the UAE and other Arab countries.

Saudi Arabia has closed Qatar's sole land border and joined other countries in cutting off sea traffic, leading panicked residents to stockpile food.

The air embargo imposed on Qatar only applies to airlines from Qatar or registered there, the United Arab Emirates Civil Aviation Authority said on Tuesday.

Qatar's neighbors cut ties with the country over accusations that it sponsors Islamic extremism, which Qatar denies.

Doha is a major worldwide travel hub, but flagship carrier Qatar Airways now flies increasingly over Iran and Turkey after being blocked elsewhere in the Middle East.

Russia's state-run Tass news agency says the two discussed "the growing tensions around Qatar".

Qatar can't be allowed to own landmarks and businesses in the United States and Europe while using the proceeds to finance extremist groups, the UAE's ambassador to Washington said, as a media war between a Saudi-led alliance and their Gulf neighbour intensifies. He did, however, caution that Qatar's would not abandon its independent foreign policy just because the other nations in the GCC don't like some of their decisions. But recent Gulf reports have charged the relationship goes beyond resource management, accusing Qatari officials of meeting with the head of Iran's Revolutionary Guard Corps.

The Eritrean Information Ministry's statement of support on Monday came despite its previously close ties with energy-rich Qatar. The coordinated move suggests the Gulf states are seeking to lessen the humanitarian impact of their June 5 severing of ties with Qatar, in retaliation for what they call its support for terrorism and their regional foe Iran.

The Saudi king expressed his gratitude to the prime minister for paying visiting to the kingdom and reiterated his support in the fight against terrorism, saying, "War on terror was in the best interest of the Ummah".



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