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The Qatar Central Bank (QCB) has maintained status quo on its interest rates, following the US Federal Reserve's policy to pause rate hike in its latest meeting."QCB has assessed the current monetary requirements of Qatar and has decided to continue with the current interest rates" for deposit, lending and repo, the central bank said in its social media handle.The central bank said it will continue to assess the appropriate monetary policy, factoring in all aspects, which may affect financial stability and will review its monetary policy as and when appropriate to address changes in economic requirements.The QCB in July increased the repo, deposit and lending rates by 25 basis points, after the Fed raised the reference rates (by 25 basis points) to their highest level in more than two decades.Qatar has so far seen a cumulative 5% or 500 basis points hike in interest rates since January 2022, even as the QCB outlined four major priority sectors that would not bear the brunt of rate hike on their outstanding loans.Since January 2022, repo rate has risen from 1% to 1.25% in March, 1.75% in May, 2.5% in June, 3.25% in July, 4% in September, 4.75% in November, 5.25% in December, 5.5% in March, 5.75% in May 2023 and the 6% in July. In 2022, the average repo rate was 2.77%.The QCB lending rate has cumulatively increased by 3.75% or 375bps since the beginning of 2022, jumping from 2.5% in January to 2.75% in May, 3.25% in June, 3.75% in July, 4.5% in September, 5% in November, 5.5% in December, 5.75% in March, 6% in May and 6.25% in July.On credit facilities, the interest rate (weighted average) on loans less than one year was rose to 6.51% in July 2023 against 4.67% in July 2022; on loans from one to three years to 7.17% (3.82%); and on loans of three years and above to 6.81% (4.9%).However, the QCB had in July this year said there are various sectors that benefit from the non-increase in interest/return rates on the outstanding credit facilities in national banks.The eligible sectors include private housing and consumption loans to Qatari citizens; service sector; industrial manufacturing; and trading sector. Within the servicers sector that ought to benefit include tourism, restaurants, hotels, entertainment, mechanical workshops, exhibitions and machinery repairs.The QCB deposit rate has cumulatively jumped by 4.75% or 475bps, increasing from 1% in January 2022 to 1.5% in May, 2.25% in June, 3% in July, 3.75% in September, 4.5% in November, 5% in December 2022, 5.25% in March 2023, 5.5% in May 2023 and 5.75% this July.The rates on deposits of one-month stood at 4.59% in July 2023 against 2.08% year-ago period; three-month deposits 5.33% (2.3%); six-month deposits 5.07% (2.34%); one-year 4.74% (2.06%) and more than one year 5.16% (2.09%).The interest rates on demand deposits had a chequered path. From 0.29% in January 2023, it rose to 0.88% in February but only to fall to 0.51% in March. Again in April it rose to 0.55% but fell to 0.2% in May. In June this year, it soared to 0.84% but only to decline to 0.41% in July 2023.In the case of savings deposits, the rates have been on the increasing mode since March 2023. It was 0.38% in January, which fell to 0.18% in the subsequent month. After which it soared to 0.32% in March, 0.33% in April, 0.39% in May, 0.47% in June and 0.49% in July 2023.The weighted average overnight interbank interest rate (on riyal) noticeably shot up from January 2022 when it was 0.28%. In July 2022, it spurted to 1.68%, 2.62% in August, 2.61% in September, 3.7% in October, 4.31% in November, 4.68% in December, 4.97% in January 2023, 5.02% in February 2023, 5.12% in March 2023, 5.3% in April 2023, 5.51% in May 2023, 5.54% in June 2023 and 5.63% in 2023.

The Qatar Stock Exchange (QSE) treaded almost a flat path this week which otherwise saw the US Federal Reserve chose to maintain status quo on its benchmark rate.The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index settled mere 0.04% higher this week which saw Gulf International Services board approve the final merger agreement of its catering subsidiary Amwaj.The insurance, telecom, industrials and transport notably witnessed higher than average demand in the main market this week which saw QTerminals, in which Milaha is an equity stakeholder, formally complete its acquisition of a majority stake in the Netherlands-based Kramer Holding.The Gulf institutions were seen marginally bullish in the main bourse this week which saw Qatar Oman Investment Company disclose its exit from Muzn Oman Commercial Company.The local retail investors’ substantially weakened net profit booking had its influence in the main market this week which saw Qatar Chamber disclose that the road transport sector reported five-fold jump to 444 companies during 2018-22.The Gulf individuals’ lower net selling also had its say in the main bourse this week which saw Qatar’s retail inflation jump 2.38% year-on-year in July 2023.The Islamic index was seen outperforming other indices in the main market this week which saw Qatar’s industrial production expand 1.6% in July 2023 on an annualised basis.However, the domestic institutions were increasingly net profit takers in the main bourse this week which saw a total of 0.2mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.44mn trade across 22 deals.The foreign funds turned bearish in the main market this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.33mn change hands across 27 transactions.Market capitalisation was down by a marginal QR0.05bn or 0.01% to QR605.24bn on the back of microcap segments this week which saw the industrials and banks together constitute about 59% of the total trade volume in the main bourse.The Total Return Index added 0.04%, the All Islamic Index by 0.73% and the All Share Index by 0.09% this week, which saw no trading of sovereign bonds.The insurance sector index shot up 3.14%, telecom (1.88%), industrials (1.43%), transport (1.42%) and real estate (0.37%); while consumer goods and services declined 1.31% and banks and financial services (0.97%) this week which saw no trading of treasury bills.Major gainers in the main bourse included Milaha, Inma Holding, Qatar Insurance, Qatar Oman Investment, Doha Insurance, Medicare Group, Qatar Industrial Manufacturing, Qatar National Cement, Industries Qatar and Ooredoo. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value this week.Nevertheless, Qatari German Medical Devices, Meeza, GIS, Qatar Cinema and Film Distribution, Dukhan Bank, QIIB, Commercial Bank, Dlala, Salam International Investment, Beema, Mazaya Qatar, Gulf Warehousing and Nakilat were among the shakers in the main bourse.The Gulf institutions’ net buying increased substantially to QR66.78mn against QR19.91mn the week ended September 14.The Arab funds turned net buyers to the extent of QR0.21mn compared with net profit takers of QR0.4mn the previous week.The local retail investors’ net profit booking declined significantly to QR25.06mn against QR74.28mn a week ago.The Gulf individuals’ net selling weakened noticeably to QR0.94mn compared to QR7.18mn the week ended September 14.However, the domestic institutions’ net selling increased considerably to QR26.96mn against QR11.46mn the previous week.The foreign funds were net sellers to the tune of QR11.49mn compared with net buyers of QR50.42mn a week ago.The Arab individuals turned net sellers to the extent of QR1.92mn against net buyers of QR5.32mn the week ended September 14.The foreign individuals were net profit takers to the tune of QR0.61mn compared with net buyers of QR17.67mn the previous week.The main market witnessed 31% shrinkage in trade volumes to 872.53mn shares, 36% in value to QR2.28bn and 22% in deals to 80,343 this week.In the venture market, trade volumes more than tripled to 11.76mn equities and value more than doubled to QR13.36mn on 14% jump in transactions to 487.

The Qatar Stock Exchange on Thursday gained more than 28 points and its key index surpassed the 10,300 levels on the back of buying interests, especially in the industrials and transport sectors.The domestic funds were seen net buyers as the 20-stock Qatar Index rose 0.27% to 10,322.96 points, despite the US Federal Reserve maintaining status quo on its benchmark interest rates.The foreign institutions turned bullish in the main market, whose year-to-date losses truncated to 3.35%.About 52% of the traded constituents extended gains to investors in the main bourse, whose capitalisation rose QR1.54bn or 0.26% to QR605.24bn with small cap segments gaining the most.The Arab individuals’ net selling was seen weakening in the main market, which recovered from an intraday low of 10,295 points.The Gulf retail investors’ lower net profit booking had its influence in the main bourse, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.12mn changed hands across 15 deals.However, the local individuals were increasingly into net selling in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.28%, the All Share Index by 0.29% and the Al Rayan Islamic Index (Price) by 0.43% in the main bourse, whose trade turnover and volumes were on the decline.The transport sector index shrank 0.79%, industrials (0.79%), insurance (0.4%), real estate (0.2%), banks and financial services (0.05%) and consumer goods and services (0.02%); while telecom shrank 0.14%.Major gainers in the main market included Milaha, Al Khaleej Takaful, Gulf International Services, Dlala, Aamal Company, Qatar National Cement, Qatar Oman Investment and Industries Qatar.In the venture market, Mahhar Holding saw its shares appreciate in value.Nevertheless, QLM, Dukhan Bank, Widam Food, Mannai Corporation and Nakilat were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares depreciate in value.The domestic funds were net buyers to the tune of QR7.17mn compared with net profit takers of QR7.21mn on September 20.The foreign institutions turned net buyers to the extent of QR6.13mn against net sellers of QR13.07mn on Wednesday.The Arab individual investors’ net selling declined perceptibly to QR0.5mn compared to QR1.54mn the previous day.The Gulf retail investors’ net profit booking weakened marginally to QR0.08mn against QR0.53mn on September 20.However, the local retail investors’ net selling strengthened substantially to QR12.93mn compared to QR1.24mn on Wednesday.The foreign individuals were net sellers to the tune of QR0.34mn against net buyers of QR2.5mn the previous day.The Gulf institutions’ net buying plummeted considerably to QR0.24mn compared to QR21.11mn on September 20.The Arab institutions had no major net exposure for the second consecutive session.Trade volumes in the main market dipped 17% to 128.61mn shares, value by 12% to QR390.97mn and deals by 5% to 15,190.The venture market saw a 5% contraction in trade volumes to 1.26mn equities but on 8% jump in value to QR1.78mn and 21% in transactions to 111.

QTerminals, a terminal operating company jointly established by Mwani Qatar and Milaha, has officially completed the acquisition of a majority stake in Kramer Holding, a provider of integrated logistics and container services located in the Port of Rotterdam in the Netherlands.This was announced by QTerminals in its social medial platform X.The acquisition represents an important milestone in the expansion of QTerminals, as the Port of Rotterdam is the largest in Europe and is a significant addition to QTerminals group’s diversification.It further reinforces the QTerminals Group’s commitment to contributing towards the Qatar National Vision 2030, which aims for the diversification of the national economy and foreign investments."Kramer Group is an important strategic step for QTerminals as we will expand our presence into Europe’s largest port. Kramer Group complements QTerminals and adds existing business, a robust value-creating service offering and European network to QTerminals portfolio," QTerminals Group CEO Neville Bissett had said earlier.QTerminals will retain Kramer’s key management personnel and employees, including Andre Kramer, who will continue as the chief executive officer.Kramer Group has both core and strategic importance to the Port of Rotterdam, as it supplements the port’s activities whilst having direct access to the deep-sea terminals of the Port of Rotterdam.The Kramer Group is an integrated container handling and storage, terminal, container development and logistics services provider, located in the Port of Rotterdam, and is the only independent terminal in the Maasvlakte area, and one of the few multi-user depot terminals in the port.The acquisition of the Kramer Group by QTerminals allows its entry and presence in the largest port in Europe which makes QTerminals Group’s position stronger in relation to future opportunities in Europe and other developed global markets.The presence of QTerminals in the Port of Rotterdam is strategic and reputable for QTerminals Group in particular and for Qatar in general as QTerminals' profile will become known in the largest European port.By acquiring Kramer Group, QTerminals will continue to develop its world leading technical and operational know-how to enhance and optimize its potential as one of the leading providers of integrated container logistics services in Europe.

Qatar's industrial production rose 1.6% year-on-year in July 2023 on faster extraction of hydrocarbons and higher growth in certain non-oil sectors such as beverages and food products, according to official data.The country's industrial production index (IPI), shot up 2.2% on a monthly basis in the review period, according to the figures released by the Planning and Statistics Authority (PSA).The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period, with respect to a base period 2013.The mining and quarrying index, which has a relative weight of 82.46%, zoomed 2.1% on a yearly basis on a 2.1% increase in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors shrank 3.3%.On a monthly basis, the sector index was seen gaining 2.2% owing to a 2.2% surge in the extraction of crude petroleum and natural gas, whereas other mining and quarrying sectors plummeted 4.8% in the review period.However, the manufacturing index, with a relative weight of 15.85%, shrank 1.4% year-on-year this July as there was a 9.1% plunge in printing and reproduction of recorded media, 7.1% in refined petroleum products, 5.9% in rubber and plastics products, and 4.1% in cement and other non-metallic mineral products.Nevertheless, there was a 5.2% jump in the production of beverages, 2.9% in food products, 0.9% in basic metals and 0.1% in chemicals and chemical products in the review period.On a monthly basis, the manufacturing index shot up 1.4% in July 2023 owing to 4.5% increase in the production of refined petroleum products, 4.1% in basic metals, 3.9% in rubber and plastics products, 1.3% in beverages and 1% in chemicals and chemical products. However, there was a 5.3% decline in the production of cement and other non-metallic mineral products in the review period.Electricity, which has a 1.16% weight in the IPI basket, saw its index surge 4.3% and 13.1% year-on-year and month-on-month respectively in July 2023.In the case of water, which has a 0.53% weight, the index was seen expanding 0.7% and 0.4% % on annual and monthly basis respectively in the review period.

The Qatar Financial Markets Authority (QFMA) Tuesday launched the Single Window E-Portal aimed at modernising the country’s capital market by easing and streamlining the listing process.The companies would be able to submit the related applications via the single window E-Portal, which has been developed on the QFMA website.The "Single Window for the Capital Market" is a qualitative initiative of QFMA, through which a new mechanism is developed to enhance co-operation and co-ordination among all relevant official authorities that deal with the issuers wishing to make public offering or listing of securities in any of the markets subject to QFMA's jurisdiction."This has a significant impact in preventing duplication of documents and data required from each of the parties concerned and providing a unified list of such documents and data in every case of their dealings in the Qatari financial markets," QFMA said.The single window will have major implications in significantly simplifying the procedures for such companies by limiting their dealings with only one entity instead of approaching other competent authorities separately, including QFMA, the Ministry of Commerce and Industry (MoCI), the Qatar Stock Exchange (QSE), and Edaa (formerly Qatar Central Securities Depository Company).The QFMA is making great efforts to improve the Qatari capital market, develop the financial services, protect the investments of the market participants, remove all obstacles and maximise the returns so as to make the country attractive for national and foreign investments.For the single window, Dr Tamy bin Ahmad al-Binali, chief executive officer of QFMA, had announced a special committee responsible for receiving, studying and reviewing applications for securities' offering and listing, admission to trading applications on QSE, and applications for registration with Edaa by various means.The 11-member committee – which has five members from QFMA, four from QSE, and one each from MoCI and Edaa - will ensure that the firms complete all requirements contained in the relevant legislation, especially with regard to offering prospectus and financial evaluation reports, as well as studying and reviewing acquisition and merger applications in which one of the parties is a company listed on the financial markets, and requests for voluntary delisting from the markets.The launch also comes in light of the continuous development and modernisation of the capital market regulations and legislation in the country, and in keeping with the global changes taking place in this vital sector.The launch of single window committee comes amid reports of more listings expected, considering that the procedural reforms as direct listing and book-building mechanism ought to attract more companies.Having put in place a new trading mechanism, the Qatari bourse is all set to move into a T+2 settlement cycle compared to T+3. The initiative is in line with international best practices in regional and international markets, to achieve efficiency, and reduce the risks of long settlement period.

The Qatar Stock Exchange on Monday gained 19 points on the back of buying interests, especially at the insurance, transport and industrials sectors.The foreign institutions were seen net buyers as the 20-stock Qatar Index rose 0.18% to 10,272 points.The Gulf retail investors were also seen net buyers in the main market, whose year-to-date losses narrowed to 3.83%.As much as 50% of the traded constituents extended gains to investors in the main bourse, whose capitalisation nevertheless lost QR0.77bn or 0.13% to QR601.54bn with microcap segments losing the most.The Gulf institutions continued to be net buyers but with lesser intensity in the main market, which touched an intraday high of 10,307 points.Similarly, the local retail investors were also net buyers but with lesser vigour in the main bourse, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn changed hands across eight deals.The domestic institutions were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.18%, the All Share Index by 0.18% and the Al Rayan Islamic Index (Price) by 0.37% in the main bourse, whose trade turnover and volumes were on the decline.The insurance sector index shot up 2.45%, transport (0.85%), industrials (0.65%), telecom (0.41%) and real estate (0.13%); whereas consumer goods and services shrank 0.86% and banks and financial services (0.18%).Major gainers in the main market included Mesaieed Petrochemical Holding, Qatar Insurance, Milaha, Inma Holding, Qatar Industrial Manufacturing and Lesha Bank.Nevertheless, Dukhan Bank, Dlala, Meeza, Qatari German Medical Devices, Aamal Company, Gulf Warehousing and Nakilat were among the losers in the main bourse. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value.The foreign institutions turned net buyers to the tune of QR19.26mn compared with net sellers of QR29.11mn on September 17.The Gulf individual investors were net buyers to the extent of QR0.52mn against net sellers of QR0.7mn the previous day.However, the domestic institutions’ net selling increased considerably to QR21.56mn compared to QR10.6mn on Sunday.The Arab retail investors turned net sellers to the tune of QR3.83mn against net buyers of QR6.9mn on September 17.The foreign individuals were net sellers to the extent of QR2.25mn compared with net buyers of QR2.04mn the previous day.The Gulf institutions’ net buying weakened substantially to QR5.76mn against QR26.54mn on Sunday.The local individuals’ net buying eased markedly to QR2.11mn compared to QR4.93mn on September 17.The Arab institutions had no major net exposure for the second consecutive session.Trade volumes in the main market dipped 5% to 199.65mn shares and value by 6% to QR488.46mn, while deals jumped 15% to 17,616.The venture market saw a 58% contraction in trade volumes to 0.19mn equities, 60% in value to QR0.38mn and 49% in transactions to 37.

The Qatar Stock Exchange on Sunday opened the week on a weaker note with its key index losing as much as 66 points on the back of an across the board selling pressure, notably in the industrials and insurance sectors.The foreign funds were seen net profit takers as the 20-stock Qatar Index shed 0.64% to 10,253.49 points.The Arab retail investors’ net buying was seen weakening in the main market, whose year-to-date losses widened further to 4%.About 56% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR2.98bn or 0.49% to QR602.21bn with midcap segments losing the most.The foreign individuals’ net buying slackened in the main market, which touched an intraday high of 10,365 points.However, the Gulf institutions were increasingly into net buying in the main bourse, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.3mn changed hands across 13 deals.The local retail investors turned bullish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index fell 0.64%, the All Share Index by 0.65% and the Al Rayan Islamic Index (Price) by 0.49% in the main bourse, whose trade turnover and volumes were on the decline.The industrials sector tanked 1.14%, insurance (0.75%), banks and financial services (0.61%), transport (0.46%), telecom (0.24%), consumer goods and services (0.09%) and real estate (0.04%).Major shakers in the main market included Qatari German Medical Devices, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Gulf International Services, Meeza, QNB, Commercial Bank, Salam International Investment, Qatar National Cement, Estithmar Holding, Qamco, Mazaya Qatar and Vodafone Qatar. In the venture market, Mahhar Holding saw its shares depreciate in value.Nevertheless, Dukhan Bank, Qatar General Insurance and Reinsurance, Doha Insurance, Medicare Group, Mannai Corporation and Aamal Company were among the gainers in the main bourse.The foreign institutions turned net sellers to the tune of QR29.11mn compared with net buyers of QR3.77mn on September 14.The Arab retail investors’ net buying declined noticeably to QR6.9mn against QR10.87mn the previous trading day.The foreign individual investors’ net buying shrank perceptibly to QR2.04mn compared to QR6.68mn last Thursday.However, the Gulf funds’ net buying strengthened substantially to QR26.54mn against QR8.75mn on September 14.The local individuals were net buyers to the extent of QR4.93mn compared with net sellers of QR11.23mn the previous trading day.The domestic institutions’ net profit booking weakened markedly to QR10.6mn against QR15.6mn last Thursday.The Gulf individual investors’ net selling eased significantly to QR0.7mn compared to QR3.08mn on September 14.The Arab institutions had no major net exposure against net sellers to the extent of QR0.16mn the previous trading day.Trade volumes in the main market dipped 31% to 210.79mn shares, value by 53% to QR518.1mn and deals by 41% to 15,378.The venture market saw a 56% slump in trade volumes to 0.45mn equities, 57% in value to QR0.96mn and 35% in transactions to 73.

Denominations as QR200, QR100, QR50 and QR10 showed higher demand as their issuance saw a double-digit annual growth against a dip in QR500 and overall currency issued in the country in July 2023, according to the Qatar Central Bank (QCB) data.Total currency issued amounted to QR21.87bn in July 2023, registering a 6.14% fall on an annualised basis. Notes issued recorded a 6.15% shrinkage to QR21.81bn but coins issued were higher by 5.39% to QR62.73mn, according to figures released by the central bank.The currency issued refers to those issued by the QCB, consisting of currency with the public and cash in vaults with the commercial banks.Within the notes, the denomination of QR50 saw the fastest year-on-year growth, followed by QR100, QR200, QR10 and QR5 in the review period.The QR50 denomination saw 36.94% surge year-on-year to QR1.52bn in July 2023. Its issuance constituted 6.97% of the total notes issued at the end of July 2023.In the case of QR100 denomination, issuance witnessed a 25.28% increase year-on-year to QR2.23bn in July 2023. The issuance constituted 10.22% of the total notes issuance at the end of July 2023.QR10 witnessed a 17.24% year-on-year growth to QR0.68bn in July 2023. Its issuance accounted for 3.12% of the total notes issued in the review period.In the case of QR200 denomination, its issuance amounted to QR2.46bn or 11.28% of the total issued in July 2023. The issuance of QR200, which was put into circulation in 2020, saw a 10.81% year-on-year jump in the review period.The introduction of QR200 "aims to bridge the gap between the QR100 and QR500", executive director of the Public Debt, Banking Affairs and Issuance at the QCB, Mohamed Jassim al-Kuwari, had said at the time of announcing the new series.The denomination came as part of the QCB introducing the fifth series in the country's currency regime.The QR5 notes issuance witnessed a 3.03% jump year-on-year to QR0.34bn in July this year. The issuance of this denomination constituted 1.56% of the total notes issued in the review period.However, the QR500 has seen its issuance decline 15.37% to value at QR14.43bn, which is 66.16% of the total issuance of notes at the end of July 2023.The QR1 has witnessed a 5.88% contraction year-on-year to QR0.16bn in July 2023. The denomination's issuance constituted 0.73% of the total value of notes issued at the end of July 2023.Within coins, the 50 dirhams witnessed a 5.39% increase to QR62.73mn and the 25 dirhams denomination saw its issuance expand 7.05% year-on-year to QR18.98mn in July 2023.

A strong start in the beginning of the week helped the Qatar Stock Exchange (QSE) sustain its bullish spell for the entire five trading sessions.Foreign institutions were increasingly net buyers as the 20-stock Qatar Index gained 0.8% this week which saw Qatar’s industrial production expand 4.2% year-on-year in June, 2023.The transport, insurance and banking counters witnessed higher than average demand in the main market this week which saw Aamal Company acquire MMS (Maintenance and Management Solutions) for QR22mn from Al Faisal Holding.The Gulf institutions were seen bullish in the main bourse this week which saw QSE announcement that Dukhan Bank will replace Vodafone Qatar in the 20-stock main barometer.The foreign retail investors were increasingly net buyers in the main market this week which saw commercial banks in Qatar register a 2.9% year-on-year growth in assets this July.About 49% of the traded constituents extended gains this week which saw a Boston Consulting Group study that Qatar’s financial wealth is projected to reach $388bn by 207.The Arab individuals were net buyers in the main bourse this week which saw global credit rating agency Standard & Poor’s view that Qatar's private sector credit growth is slated to ease significantly but higher interest rates would support profitability.The Islamic index underperformed the other indices this week which saw a total of 0.12mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.27mn trade across 19 deals.However, the local individuals were increasingly bearish in the main market this week which saw as many as 0.08mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.8mn change hands across 38 transactions.Market capitalisation rose QR2.31bn or 0.38% to QR605.29bn on the back of small and microcap segments this week which saw the industrials and banks together constitute more than 63% of the total trade volume in the main market.The Total Return Index added 0.8%, the All Islamic Index by 0.18% and the All Share Index by 0.76% this week, which saw no trading of sovereign bonds.The transport sector index shot up 4.15%, insurance (1.9%), banks and financial services (0.81%) and industrials (0.52%); while telecom declined 2.57% and real estate (0.57%). The consumer goods and services sector traded a flat path this week which saw no trading of treasury bills.Major gainers in the main bourse included Al Khaleej Takaful, Meeza, Gulf International Services, Masraf Al Rayan, Milaha, Commercial Bank, Industries Qatar, Estithmar Holding, Qatar Insurance and Nakilat. In the venture market, Mahhar Holding saw its shares appreciate in value this week which saw Qatar witness 5% jump month-on-month in building permits issued in July 2023.Nevertheless, Qatar General Insurance and Reinsurance, Inma Holding, Qamco, Doha Bank, Dukhan Bank, Dlala, Medicare Group, Salam International Investment, Mesaieed Petrochemical Holding, Ooredoo and Vodafone Qatar were among the loses in the main bourse. In the venture market, both Al Faleh Educational Holding saw its shares depreciate in value this week which saw global index MSCI contemplate to enhance issuer interaction with listed firms on environment, social and governance.The foreign funds’ net buying increased substantially to QR50.42mn compared to QR8.18mn the week ended September 7.The Gulf institutions turned net buyer to the tune of QR19.91mn against net sellers of QR70.88mn a week ago.The foreign individuals’ net buying expanded noticeably to QR17.67mn compared to QR5.77mn the previous week.The Arab individuals were net buyers to the extent of QR5.32mn against net profit takers of QR11.09mn the week ended September 7.However, the local individuals’ net selling expanded significantly to QR74.28mn compared to QR5.06mn a week ago.The domestic institutions were net sellers to the tune of QR11.46mn against net buyers of QR68.91mn the previous week.The Gulf individuals turned net sellers to the extent of QR7.18mn compared with net buyers of QR4.17mn the week ended September 7.The Arab funds were net profit takers to the tune of QR0.4mn against no major net exposure the previous week.The main market witnessed a 24% surge in trade volumes to 1.27bn shares, 41% in value to QR3.58bn and 7% in deals to 103,630 this week.In the venture market, trade volumes tanked 40% to 3.16mn equities, value by 43% to QR6.22mn and transactions by 56% to 428.

The Gulf Co-operation Council (GCC) banks' capital buffers will remain "comfortable", while a slowdown in credit growth and higher earnings will contribute to the GCC lenders' "stable" capital metrics, according to Standard and Poor's (S&P), a global credit rating agency."The GCC banks have always operated with comfortable capital buffers, and we do not expect this to change," S&P said in a recent report.Finding that slower credit growth and higher earnings mean that the GCC banks' capital metrics will remain "stable", it said the banking systems in Saudi Arabia, the UAE, Qatar, and Kuwait reported a Tier 1 regulatory capital ratio of 15% and above in 2022.The report highlighted that higher interest rates will reduce GCC banks' credit growth, but Saudi and UAE banks' performance will be more "resilient".S&P expects higher interest rates will reduce Kuwaiti banks' credit growth to about 3%, from almost 8% in 2022, and soften Saudi banks' total lending growth to about 10% in 2023, from 14% in 2022.The UAE banks, on the other hand, will benefit from still robust non-oil GDP (gross domestic product) growth, which will somewhat mitigate the negative effect of higher interest rates on credit growth, according to S&P.Expecting the UAE banks' credit growth to improve to approximately 7% in 2023 compared with 5% in 2022; the rating agency said yet, a long period of higher interest rates and the slowdown of the oil economy could pose challenges.Qatari banks, unlike their GCC peers, will continue to experience a sharper decline in credit growth. This is because the country's main infrastructure projects, which are a key driver for credit demand through contractors, were completed in time for the 2022 FIFA World Cup.Even though credit costs in the GCC region, with the exception of the UAE, will increase, "we still expect the GCC banks' return on assets (ROA) will improve in 2023, mainly due to higher margins and still satisfactory, albeit lower, lending growth in some GCC countries," it said.

Dukhan Bank will replace Vodafone Qatar in the Qatar Stock Exchange's (QSE) main barometer QE Index, effective October 1.The other constituents of the main barometer will remain QNB, Industries Qatar, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Woqod, QIIB, Nakilat, Ooredoo, Qatar Electricity and Water, Milaha, Mesaieed Petrochemical Holding, Barwa, Qamco, Doha Bank, Gulf International Services, Baladna, Estithmar Holding and Ezdan.Dukhan Bank and Lesha Bank will join the QE Al Rayan Islamic Index, while Gulf Warehousing will be removed from the Islamic index.The other constituents of the Al Rayan Islamic Index are Industries Qatar, Qatar Islamic Bank, Masraf Al Rayan, Woqod, QIIB, Ooredoo, Milaha, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Barwa, Qamco, Vodafone Qatar, United Development Company, Baladna, Estithmar Holding, Al Meera, Medicare Group and Qatar National Cement.Dukhan Bank will join the QE All Share Index and QE Banks and Financial Services Index, while Mekdam Holding will join QE All Share Index and QE Consumer Goods and Services Index, and Beema will join QE All Share Index and QE Insurance Index.However, Qatar Cinema and Film Distribution will be removed from QE All Share Index and QE Consumer Goods and Services Index.Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continues to reflect the purpose of the index.All listed companies are ranked by giving free float market capitalisation with a 50% weight and average daily value traded also 50% weight. Companies with velocity less than 5% are excluded from the review, as are entities whereby a single shareholder can only own less than 1% of outstanding shares.Any qualifying component exceeding 15% weight in the index as of market close March 28, 2023 will have its weight capped at the 15% level and excess weight allocated to remaining stocks proportionately.The index free-float for a stock is total outstanding shares minus shares directly owned by government and its affiliates, those held by founders and board members and shareholdings above 10% or greater of the total outstanding (except those held by those held by pension funds in the country).The bourse has seven sectors – banks and financial services (with 13 constituents), insurance (seven), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (12) in the ‘All Share Index’.

The Qatar Stock Exchange on Thursday lost as much as 50 points on the back of selling pressure, especially in the industrials, consumer goods, telecom and real estate sectors.The domestic institutions were increasingly net sellers as the 20-sock Qatar Index shed 0.48% to 10,319.28 points.The local retail investors were seen bearish in the main market, whose year-to-date losses widened to 3.39%.About 78% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR3.21bn or 0.53% to QR605.29bn with mid and large cap segments losing the most.The Gulf individuals were increasingly net profit takers in the main market, which recovered from an intraday low of 10,288 points.The foreign institutions’ weakened net buying had its influence in the main bourse, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.34mn changed hands across 18 deals.The Arab funds were seen bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index fell 0.48%, the All Share Index by 0.40% and the Al Rayan Islamic Index (Price) by 0.77% in the main bourse, whose trade turnover and volumes were on the rise.The industrials sector tanked 1.38%, consumer goods and services (1.07%), telecom (0.98%), and real estate (0.86%); while transport and insurance gained 1.18% and 0.85% respectively.Major shakers in the main market included Doha Insurance, Beema, Medicare Group, Qatar Industrial Manufacturing, Dukhan, Doha Bank, Doha Bank, Ahlibank Qatar, Lesha Bank, Inma Holding, Mannai Corporation, Al Meera, Industries Qatar, Qamco, United Development Company, Vodafone Qatar and Gulf Warehousing.Nevertheless, Qatar Insurance, Nakilat, Qatar Oman Investment, Estithmar Holding and QIIB were among the gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value.The domestic institutions’ net selling increased perceptibly to QR15.6mn compared to QR13.37mn on September 13.The local individuals turned net sellers to the tune of QR11.23mn against net buyers of QR18.11mn the previous day.The Gulf retail investors’ net profit booking grew markedly to QR3.08mn compared to QR0.06mn on Wednesday.The Arab institutions were net sellers to the extent of QR0.16mn against net no major net exposure on September 13.The foreign institutions’ net buying weakened significantly to QR3.77mn compared to QR15.14mn the previous day.However, the Arab retail investors turned net buyers to the tune of QR10.87mn against net sellers of QR9.98mn on Wednesday.The Gulf funds were net buyers to the extent of QR8.75mn compared with net profit takers of QR10.81mn on September 13.The foreign individual investors’ net buying strengthened noticeably to QR6.68mn against QR0.98mn the previous day.Trade volumes in the main market soared 72% to 305.86mn shares and value more than doubled to QR1.11bn on 37% growth in deals to 25,973.The venture market saw 6% jump in trade volumes to 1.02mn equities and 25% in value to QR2.2mn but on 23% shrinkage in transactions to 113.

Commercial banks in Doha reported a 2.9% year-on-year growth in assets to QR1.87tn in July on the back of expansion in their domestic assets, according to the Qatar Central Bank (QCB) data.The banks’ domestic assets shot up 3.39% year-on-year to QR1.63tn, while foreign assets were down 0.61% to QR241.33bn in the review period.Of the total QR1.87tn assets in July 2023, local currency assets amounted to QR959.16bn or 53.06% of the total and foreign currency assets at QR876.97bn or 46.94%.The commercial banks’ total credit amounted to QR1.24tn in July 2023, which increased by 2.75% on an annualised basis. Their domestic credit was seen expanding 3.67% year-on-year to QR1.19tn; while overseas credit declined 13.18% to QR57.17bn in the review period.Domestic assets in local currency amounted to QR985.37bn and foreign currency QR641.7bn; while in the case of foreign assets; local denomination was valued at QR6.05bn and foreign currency at QR235.27bn in July 2023.Total public sector credit was seen expanding 1.13% year-on-year to QR379.29bn with domestic credit growing by 1.02% to QR360.11bn and foreign credit 3.28% to QR19.18bn in July 2023.Total private sector credit showed a 4.3% year-on-year growth to QR855.72 with domestic credit expanding 5.61% to QR819.14bn; while foreign credit declining 18.38% to QR36.59bn at the end of July.Theecurities portfolio totalled QR272.45 in July 2023, growing by 9.86% year-on-year with domestic securities portfolio expanding 6.73% to QR246.62bn and overseas portfolio by 52.69% to QR25.82bn.Within securities portfolio, total debt shot up 15.96% year-on-year to QR166.1bn with domestic and foreign debts soaring 13.45% and 53.27% to QR152.29bn and QR13.81bn respectively in July.Total sukuk amounted to QR99.46bn, which was up 1.02% year-on-year in July with foreign sukuk growing 94.39% to QR9.35bn. In the case of domestic sukuk, it fell 3.78% to QR90.11bn in the review period.Total claims on banks were up 3.34% year-on-year to QR161.29bn. Domestic claims shot up 38.16% to QR54.37bn; whereas foreign claims plummeted 20.42% to QR106.93bn.The commercial banks' cash and precious metals were valued at QR14.35bn in July compared to QR16.96bn the previous year period. Investments in subsidiaries and associated stood at QR47.79bn with domestic investments at QR7.25bn and overseas investments at QR40.54bn.The country's commercial banking system showed QR42.29bn in other assets in July with domestic assets at QR32.17bn and foreign assets at QR10.12bn.The commercial banks' net fixed assets amounted to QR8.33bn at the end of July 2023 compared to QR8.02bn in the comparable period of previous year.Their investments in real estate amounted to QR2.24bn with domestic portfolio at QR1.5bn and foreign portfolio at QR0.74bn in July.The commercial banks' required reserve stood at QR53.96bn in July 2023 against QR48.03bn the year-ago period.

The Qatar Stock Exchange on Wednesday lost another 17 points on the back of selling pressure, especially in the telecom, real estate, industrials and banking counters.The domestic institutions turned net profit takers as the 20-stock Qatar Index shed 0.16% to 10,369.35 points.The Gulf institutions were seen bearish in the main market, whose year-to-date losses widened to 2.92%.The Arab individuals turned net sellers in the main bourse, whose capitalisation melted QR1.22bn or 0.2% to QR608.5bn with midcap segments losing the most.The foreign retail investors’ weakened net buying had its influence in the main market, which had hit an intraday high of 10,392 points.However, the foreign institutions were increasingly net buyers in the main bourse, which saw a total of 8,706 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn changed hands across four deals.The local retail investors turned bullish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index fell 0.16%, All Share Index by 0.11% and Al Rayan Islamic Index (Price) by 0.2% in the main bourse, whose trade turnover and volumes were on the lower side.The telecom sector index shed 0.76%, real estate (0.41%), industrials (0.35%), and banks and financial services (0.21%); whereas insurance gained 1.01%, transport (1%) and consumer goods and services (0.2%).Major shakers in the main market included Qatar General Insurance and Reinsurance, Qatari German Medical Devices, Inma Holding, Ooredoo, Industries Qatar, Estithmar Holding and Ezdan. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Meeza, Beema, Doha Insurance, Qatar Insurance, Qatar Islamic Insurance, Mannai Corporation, Qatar National Cement, Gulf International Services, Qamco, Gulf Warehousing and Nakilat. In the junior bourse, Mahhar Holding saw its shares appreciate in value.The domestic institutions were net sellers to the extent of 13.37mn compared with net buyers of QR7.86mn on September 12.The Gulf funds turned net profit takers to the tune on QR10.81mn against net buyers of QR4.75mn the previous day.The Arab retail investors were net sellers to the extent of QR9.98mn compared with net buyers of QR3.42mn on Tuesday.The foreign individual investors’ net buying weakened noticeably to QR0.98mn against QR6.08mn on September 12.However, the local individuals turned net buyers to the tune of QR18.11mn compared with net sellers of QR23.22mn the previous day.The foreign institutions’ net buying expanded significantly to QR15.14mn against QR2.93mn on Tuesday.The Gulf retail investors’ net profit booking eased perceptibly to QR0.06mn compared to QR1.66mn on September 12.The Arab institutions had no major net exposure against net sellers to the tune of QR0.16mn the previous day.Trade volumes in the main market fell 29% to 177.69mn shares, value by 22% to QR547.58mn and deals by 13% to 18,930.The venture market trade volumes more than double to 0.96mn equities and value more than double to QR1.76mn on more than doubled transactions to 147.

Financial wealth in Qatar is expected to grow by 5.1% annually to reach $388bn by 2027 with ultra-high net worth (UHNW) individuals tipped to be the major contributors to the country's wealth growth, according to Boston Consulting Group (BCG)."Representing 4.1% of the region's financial wealth in 2022, Qatar's trajectory signifies strong economic growth and resilience in the face of global challenges," said Markus Massi, managing director and senior partner at BCG.The country's thriving entrepreneurial spirit, coupled with calculated risk-taking, has contributed to this remarkable growth, demonstrating its leadership in the region, he said.Highlighting that UHNW individuals are the major contributors to Qatar's wealth growth; BCG said in 2022, approximately 38% of Qatar's wealth came from UHNW individuals, worth more than $100mn.This contribution is expected to increase to 40% by 2027. Additionally, individuals with wealth between $1mn and $20mn held 16% of Qatar's wealth in 2022, with this figure remaining the same in 2027. Meanwhile, individuals' worth under $250,000 held 28% of the wealth in 2022, expected to decrease to 27% by 2027."The success of Qatar in attracting and retaining high net worth individuals has been instrumental in driving its economic growth. These individuals not only drive innovation and investment in the region but also contribute to the continued prosperity of Qatar," said Nimrod Pais, managing director and partner, BCG.Equities and investment funds are the largest asset class in Qatar, making up 48% of total personal wealth in 2022, it said, adding life insurance and pensions are expected to have the fastest growth rate of 7.1% compound annual growth rate between 2022 and 2027.Highlighting the growth of real assets and liabilities in Qatar; it said real assets in Qatar decreased by 0.8% per year from 2017 to 2022, reaching $266bn, and are projected to increase by 5.1% per year to $341bn by 2027.In comparison, liabilities in Qatar grew by 1.3% per year during the same period and are expected to grow by 2.6% per year to $38bn by 2027. "This balanced growth reflects a nation that takes calculated risks, contributing to overall economic growth," it said.

Qatar's private sector credit is expected to continue to grow at a "significantly" reduced pace through 2023, even as higher interest rates is slated to support profitability of the country’s banking sector, according to Standard and Poor's (S&P), a global credit rating agency.Finding that credit to the private sector expanded by less than 1% at the end of May 2023, well below the growth rates of recent years; S&P said the completion of the country's major infrastructure projects in time for the 2022 FIFA World Cup means that credit to contractors is no longer required.Trade and consumption lending are still likely to see the strongest growth, buoyed by the wealthy population and the still relatively high oil prices Qatar's liquefied natural gas prices are linked to, it said."Qatari banks' overall credit supply, as opposed to private sector credit, could decrease in 2023, as the Qatari government gradually reduces its debt burden," the credit rating agency said.Expecting higher interest rates will continue to support profitability; it said some banks' balance sheets shrunk in the first half of 2023, but most lenders reported gains in net profitability, which supports its expectation that ROE (return on equity) will expand in 2023.S&P said banks' underlying performance should bolster capitalisation, but potentially higher domestic funding costs and adjustments relating to the performance of subsidiaries in Turkiye could limit profit growth.Finding that external indebtedness has started to reduce but remains a key risk; the rating agency said both lower demand and the introduction of new prudential regulations to disincentivise non-resident-driven balance sheet growth has led to a reduction of nearly 10% ($18bn) in total external funding between the end of 2021 and May 2023.The reduction of almost 10% includes a decline in non-resident deposits of 37% and an increase in interbank lines of 25%, according to the report."We expect overall external liabilities will continue to decrease gradually for the rest of the year, as domestic funding sources replace shorter-term interbank borrowing. That said, replacing non-resident deposits with domestic sources will likely increase overall funding costs," it said.Expecting a "slight" deterioration in asset quality, but robust public sector exposure remains "significant"; S&P said it anticipates that higher-for-longer interest rates and subdued real estate prices could put pressure on Qatari borrowers and retail sub-sectors. Additionally, macroeconomic strains in Turkiye and Egypt will likely contribute to loan losses in 2023, it added.

Qatar's industrial production expanded 4.2% year-on-year in June 2023 on faster extraction of hydrocarbons and higher growth in certain non-oil sectors such as food products and chemicals, according to official data.The country's industrial production index (IPI), shot up 4.2% on a monthly basis in the review period, according to the figures released by the Planning and Statistics Authority (PSA).The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period, with respect to a base period 2013.The mining and quarrying index, which has a relative weight of 82.46%, soared 5.3% on a yearly basis owing to a 5.3% increase in the extraction of crude petroleum and natural gas and 2.8% in other mining and quarrying sectors.On a monthly basis, the sector index was seen gaining 5% on account of a 5% surge in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors fell 1.1% in the review period.The manufacturing index, with a relative weight of 15.85%, shrank 1.1% year-on-year this June as there was a 11.3% contraction in the production of rubber and plastics products, 9.1% in printing and reproduction of recorded media, 6.3% in refined petroleum products, 5.6% in cement and other non-metallic mineral products, and 2.7% in basic metals.Nevertheless, there was a 4.1% jump in the production of food products, 1.8% in chemical and chemical related products, and 0.4% in beverages in the review period.On a monthly basis, the manufacturing index was down 0.4% owing to 5.8% decline in the production of basic metals, 4.3% in printing and reproduction of recorded media, 1% in food products, and 0.9% in chemicals and chemical related products.However, there was a 6.5% expansion in the production of refined petroleum products, 4.7% in beverages, 2.7% in rubber and plastics products, and 0.1% in cement and other non-metallic mineral products in the review period.Electricity, which has a 1.16% weight in the IPI basket, saw its index decline 0.8% year-on-year but shot up 8.4% month-on-month in June 2023.In the case of water, which has a 0.53% weight, the index was seen expanding 2.1% on both annual and monthly basis respectively in the review period.