PMI rises sharply in September, pointing to fresh momentum in non-energy private sector

8 10月 2019

Doha, Qatar

The Qatar Financial Centre, one of the world's leading and fastest growing onshore business and financial centres, has its Chief Legal Officer, Nasser Al-Taweel, named in The Legal 500's 'GC PowerList: Middle East. This marks the third consecutive year that the QFC Legal team has been mentioned in the prestigious list. Al-Taweel was featured in 2017, and the QFC legal team were listed in 2018.


The list, which comprises 500 names, recognises influential in-house legal professionals working in the region for their contribution to the enhancement and commitment to best practice in the legal field. 


For over 30 years, The Legal 500 has been analysing the capabilities of law firms across the world. The 2019 list has a particular focus to the in-house function, recognising corporate counsel that is driving the legal business forward. 


Legal professionals selected for the list are made up of canvassed opinions from law firm partners and in-house counsel across the Middle East, to identify corporate counsel that have been instrumental in changing or forming opinions within their company or industry; developing brilliant technical solutions to complex issues; creating innovative structures to ensure that the in-house function is driving the business forward; or providing a business working model that other corporate counsel should follow. 


Nasser Al-Taweel, Chief Legal Officer, QFC Authority said: 

The PMI signalled returning growth momentum in Qatar's non-energy economy in September. Moreover, the headline figure posted a steeper gain than in August. The overall rise during the past two months of 3.8 points is the largest observed since September-October 2017. The three main components of the PMI – new orders, output and employment – also posted steeper gains in September.
Firms highlighted new projects and work related to the 2022 World Cup as driving new business, and this also underpinned stronger expectations for output over the next 12 months. The Future Activity Index surged to the highest in 2019 so far and the second-highest on record.

In addition to the recognition in the GC PowerList in the last few years, both Al-Taweel and the QFC's Legal Team have been commended for other legal business accolades. In 2018, Nasser was also named as the General Counsel of the Year at the Qatar Business Law Forum & Awards 2018. The award recognised excellence on the basis of legal expertise; client satisfaction; innovation; strategic vision and leadership. In the same year, the International Swaps and Derivatives Association (ISDA) also recognised the QFC as an effective netting regime. The recognition was a significant affirmation of Qatar's financial market infrastructure and the world-class legal framework established by the QFC.