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Qatar Airways CEO Will Step Down After Nearly 3 Decades Leading Carrier 

Qatar Airways Group chief executive Akbar Al Baker. (QNA)
Qatar Airways Group chief executive Akbar Al Baker. (QNA)
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Qatar Airways CEO Will Step Down After Nearly 3 Decades Leading Carrier 

Qatar Airways Group chief executive Akbar Al Baker. (QNA)
Qatar Airways Group chief executive Akbar Al Baker. (QNA)

Qatar Airways Group chief executive Akbar Al Baker is stepping down after 27 years leading the company.

Al Baker's retirement will go into effect Nov. 5, Qatar Airways said Monday. He will be succeeded by Badr Mohammed Al-Meer — who currently serves as the chief operating officer of Hamad International Airport in Doha, the hub of Qatar's national carrier.

In Monday's announcement, Qatar Airways said that it “has grown to become one of the most recognizable and trusted brands globally” under Al Baker's leadership. The company pointed to seven “World's Best Airline” wins, among other allocates.

Al Baker was appointed CEO in 1997, three years after the airline's launch, and has been instrumental in transforming Qatar Airways into a major international carrier that competes against the likes of Dubai's Emirates and Turkish Airlines.

In July, Qatar Airways reported a profit of $1.2 billion over the last fiscal year, boosted in part by the country’s hosting of the 2022 FIFA World Cup.

Qatar Airway's earned revenue of $20.9 billion over the fiscal year, up from $14.4 billion the year before.

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Watchdog FATF Places Lebanon on Financial Crime Watchlist

People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
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Watchdog FATF Places Lebanon on Financial Crime Watchlist

People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)

Lebanon has been placed on the so-called "grey list" of countries under special scrutiny by financial crime watchdog FATF, FATF said on Friday.

"Of course we recognize the extreme, grave situation that Lebanon is currently facing," Elisa de Anda Madrazo, the watchdog's president, told journalist.

"Lebanon's status on the grey list should not impede relief efforts ... We are working to make sure that channels of humanitarian aid remain open," she added.

Lebanon has been in a financial crisis since 2019 that has been left to fester by the country's leaders and now faces growing damage from Israeli airstrikes and ground operations against Hezbollah.

Madrazo said Lebanon had been accorded some flexibility regarding deadlines set in its action plan, but did not provide details at the news conference.

A source told Reuters earlier on Friday that the war had led the FATF to give Lebanon until 2026 instead of 2025 to address the issues that led to its grey-listing, including concerns over terrorism financing and a lack of judicial independence.

The grey-listing is likely to further deter investment in Lebanon and could affect the relationship between some Lebanese banks and the global financial system.