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Al Mahhar Holding, a prominent player in the energy and infrastructure sectors, Wednesday began its journey on the Qatar Stock Exchange (QSE)'s venture market 'QEVM' with its shares gaining as much as 145% intraday, before settling 30% higher.The company's shares were listed with the ticker MHAR and price was floated on the first trading day. The stock’s opening price was QR2.89, and the last transaction price was QR2.6.The highest price reached QR4.9 against the reference price of QR2; implying an increase of 145%; and the lowest price was QR2.6 or 30% higher. Starting from Thursday, the stock price will be allowed to fluctuate by 10% up and down, as is the case for other companies listed on the market.The company listed 207mn shares with market capitalisation of QR414mn (at the reference price of QR2 a share).With the listing of Al Mahhar Holding, the number of listed companies on QEVM has increased to two with the other one being Al Faleh Educational Holding.The shares of Al Mahhar Holding were listed through the “direct listing” mechanism, a common mechanism in all the regional markets, which allows companies to be listed without an IPO or initial public offering."The listing of this company will increase the depth of the market and unlock opportunities to expand our investor base and access to capital, while providing investors with the opportunity to invest in leading Qatari companies,” Qatar Stock Exchange acting chief executive officer Abdul Aziz Nasser al-Emadi said.The QSE is making unremitting efforts to increase the number of listed companies by raising awareness of the advantages of listing on the QSE’s market, according to him.Clifford W Lasrado, managing director of Al Mahhar Holding, said the "strategic" rationale behind the company's decision to list its shares on the local bourse is to further enhance its growth and development."It represents a natural step in our corporate journey, while also providing an opportunity for all stakeholders to participate in our future success through share ownership. We believe this move will support our expansion plans, foster stakeholder engagement, and position Al Mahhar Holding for sustained success in the market," he said.

Al-Mahhar Holding Company, which provides support services to energy sector, will Wednesday list on the Qatar Stock Exchange's venture market (QEVM).With this listing, the number of companies listed on QSE’s junior bourse will increase to two.Al-Mahhar Holding, whose capital base stands at 207mn shares, will be listed through direct listing without offering shares for public subscription.The shares will be listed with the symbol "MHAR". The reference price for the share has been set at QR2 (QR1 nominal value + QR1 issuance premium) based on the documents submitted by the company.On the first day of listing, the company’s price will be floated, while from the second day, the price will be allowed to fluctuate by 10%, up or down, as is the case for other companies listed on the market.Companies applying for listing in the venture market are required to have at least 20 non-founding shareholders, who own no less than 10% of the company's capital upon listing.The founders will also be allowed to sell and trade no more than 30% of their shares in the company’s capital upon listing, provided that they retain 60% of their shares in the company’s capital.Al-Mahhar Holding Company has been operating in the Qatari market since 1989 through its wholly owned subsidiary, (Petrotec Group) to enhance the level of support provided to the energy sector.The group is assessing the feasibility of expanding in the medium term into manufacturing, assembly, as well as system integration of certain products and equipment related to the energy sector in-house in Qatar, according to its prospectus filed with the QSE.The group, which believes that QatarEnergy’s ongoing localisation programme (Tawteen) is a major driver for these opportunities, finds opportunities to expand its portfolio of products and services relating to the energy sector in Qatar and is analysing the whole value chain (upstream, midstream, and downstream).The company’s major revenue sources come from the sale of equipment and products under agency agreements representing various OEMs in Qatar and from the provision of industrial specialised services provided by the portfolio entities. Other sources of revenue include equipment rental and design and assembly of electrical switchgear.Energy sector contributed 78.2% to the group’s total revenue in 2021. Revenue from sale of goods constituted 69% to 71% to the group’s kitty, while those from services and rentals mad up the remainder.

Qatar's hospitality sector saw an improved rooms' yield this April, mainly lifted by five-star hotels and deluxe hotel apartments, as visitor arrivals surged compared to the same month last year.This was revealed by the Planning and Statistics Authority (PSA) in its Qatar Monthly Statistics bulletin.The rosy scenario in the hospitality sector comes in view of a 231.5% annual increase in visitor arrivals, especially from the Americas, Europe and other African countries. Qatar received a total of 324,374 visitors in April.On a monthly basis, however, the total visitor arrivals decreased by 25.1% in April 2023.Qatar's overall hospitality sector saw a 25% year-on-year surge in average revenue per available room to QR210 in January 2023 as the average room rate jumped 15.03% to QR444 and occupancy by 3% to 47% in the review period.The visitor arrivals from Europe were 149,733 or 46% of the total; followed by Americas 66,867 or 21%; other Asia (including Oceania) 58,781 (89.8%); other African countries 18,760 (6%); other Arab countries 18,486 (6%); and the Gulf Cooperation Council or GCC 11,747 (4%) in the review period.The visitor arrivals from the Americas soared 1,013.2% and 151.7% year-on-year and month-on-month respectively; those from other African countries by 1,006.1% and 160.5%; and those from Europe by 648% and 30.6% in April 2023.In the case of visitor arrivals from other Arab countries, they witnessed 107.5% increase on an annualised basis but declined 47.2% on a monthly basis. Similarly, those from other Asia (including Oceania) jumped 89.8% year-on-year but fell 31% month-on-month in the review period.The visitor arrivals from the Gulf region were seen declining 61.2% and 92.9% year-on-year and month-on-month, respectively, in April 2023.In the case of five-star hotels, the average revenue per available room increased 41.62% on annualised basis to QR279 in April 2023 as the average room rate grew 27.97% to QR668 and the occupancy by 4% to 42%.The two-star and one-star hotels' average revenue per available room shot up 9.17% year-on-year to QR131 this April as the occupancy improved by 9% to 865 but the average room rate dipped 2.56% to QR152 at the end of April this year.However, the average revenue per available room in the four-star hotels plummeted 12.5% on a yearly basis to QR105 in April 2023 as the occupancy plunged 7% to 43% although the average room rate was up 0.83% to QR243.The three-star hotels saw an 8.53% year-on-year contraction in average revenue per available room to QR118 as the average room rate shrank 0.54% to QR184 and the occupancy by 6% to 64% in the review period.The deluxe hotel apartments registered a 25.32% year-on-year surge in average revenue available per room to QR193 in April this year even as the average room rate in the category was seen gaining 2.53% on an annualised basis to QR365 and the occupancy by 10% to 53% in the review period.In the case of standard hotel apartments, the room yield decreased by 1.33% year-on-year to QR148 this April as the occupancy plummeted 13% to 62% although average room rate zoomed 19% to QR223.

Qatar saw strongest improvement in business conditions in non-energy private sector since July 2022 on accelerated growth in output, new orders, employment and purchasing, according to the Qatar Financial Centre (QFC).The PMI rose for the sixth time in seven months to 55.6 in May, from 54.4 in April, indicating the strongest improvement in business conditions since July 2022. The latest figure moved further above the long-run trend of 52.3."Qatar's non-energy private sector remained on an upward growth trajectory in May, as inflows of new business accelerated in part due to tourism and demand for financial services," said Yousuf Mohamed al-Jaida, chief executive officer, QFC Authority.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.The headline QFC PMI is a composite single-figure indicator of non-energy private sector performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.The PMI figure was mainly boosted by the output and new orders components in May, while employment and stocks of purchases also had positive overall contributions.New business increased at the fastest rate in ten months in May. Companies reported signing new contracts with both existing and new customers, alongside new product offerings and tourism demand. New business in financial services was also a strong point in the latest findings.Total business activity rose further in May. Output has risen every month for almost three years straight, except for a brief correction in January following the conclusion of the FIFA World Cup Qatar 2022. The rate of expansion in May was the strongest of 2023 so far and well above the six-year survey trend.The 12-month outlook for the non-energy private sector improved in May. The Future Output Index rose for the first time in three months to 59.2, with confidence strengthening in the services, wholesale and retail, and construction sectors.Non-oil private sector employment rose to the greatest degree since July 2022, helping firms to further reduce their levels of outstanding business in May. Demand for inputs strengthened, but supply chains coped admirably as average lead times were cut again.According to the QFC PMI, May data signalled a strong month for financial services companies in Qatar. Rates of expansion in new business and total activity both accelerated since April, and the 12-month outlook strengthened."Financial services continued to outperform the wider economy, with its key indices for activity and new business registering 61.4 and 61.8, respectively. Financial services firms also raised their charges, in contrast to little change across the non-energy sector as a whole," al-Jaida said.

Optimism on the US Federal Reserve's expected move to pause its rate hikes this month and rising oil prices led the Qatar Stock Exchange report 38 points increase in its key.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[39134]**index. The Gulf funds were increasingly net buyers as the 20-stock Qatar Index settled 0.36% higher at 10,434.78 points.The domestic institutions’ weakened net selling had its influence in the main market, which however recovered from an intraday low 10,379 points.The local retail investors’ lower net selling pressure also had its say in the main bourse, whose year-to-date losses narrowed further to 2.31%.The Gulf individuals’ net profit booking was seen weakening in the main bourse, whose capitalisation gained QR1.13bn or 0.18% to QR617.27bn, mainly on account of microcap segments.The foreign institutions continued to be net buyers but with lesser intensity in the main bourse, which saw a total of 0.1mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.24mn changed hands across seven deals.The Arab retail investors turned net sellers 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 0.36%, All Share Index by 0.38% and Al Rayan Islamic Index (Price) by 0.41% in the main bourse, whose trade turnover and volumes were on the increase.The insurance sector index shot up 3.01%, transport (0.63%), banks and financial services (0.42%), telecom (0.36%), real estate (0.36%) and consumer goods and services (0.13%); while industrials fell 0.14%.Major gainers in the main market included Dlala, Widam Food, Qatari German Medical Devices, Al Khaleej Takaful, Qatar Insurance, Inma Holding, Mesaieed Petrochemical Holding and Barwa. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Doha Insurance, Qatar Islamic Insurance, Alijarah Holding, Mannai Corporation, Salam International Investment, Gulf International Services, Ezdan and Gulf Warehousing were among the shakers in the main market.The Gulf institutions’ net buying increased noticeably to QR20.94mn compared to QR13.07mn on June 4.The domestic institutions’ net profit booking fell substantially to QR8.34mn against QR31.21mn the previous day.The Qatari individuals’ net selling weakened markedly to QR11.89mn compared to QR29.03mn on Sunday.The foreign individual investors’ net selling shrank perceptibly to QR0.08mn against QR2.42mn on June 4.The Gulf retail investors’ net profit booking eased marginally to QR0.09mn compared to QR0.11mn the previous day.However, the Arab individuals were net sellers top the extent of QR4.8mn against net buyers of QR5.36mn on Sunday.The Arab institutions turned net profit takers to the tune of QR0.01mn compared with no major net exposure on June 4.The foreign funds’ net buying decreased substantially to QR4.28mn against QR44.33mn the previous day.The main market saw an 11% jump in trade volumes to 206.53mn shares, 23% in value to QR576.39mn and 35% in deals to 22,282.

The real estate sector continues to be driving force behind Qatar's robust and resilient economy, according to a top official of Alfardan Properties, a leading lifestyle developer in Qatar and the region."With a continuous commitment to developing a robust and resilient economy in Qatar, the real estate sector continues to be driving force in this regard," Alfardan Properties president and chief executive officer Oman Hussain Alfardan told the first Qatar Real Estate Forum, organised by the Ministry of Municipality.Participating in a key session yesterday to discuss his real estate journey, successes, and the factors that have contributed to the growth of the industry in Qatar; he provided valuable insights into the challenges and opportunities that have shaped the real estate monetary landscape in Qatar.Advising that investment in the real estate has to be viewed with a long term, he said one has to look at the expected interest rate movement in the next five years rather than factoring in the present levels.On the funding mechanism of one of its prestigious projects, Alfardan told the moderator Ammar Taqi from the Kuwaiti AlQabas Foundation, that the traditional methods proved unsuccessful; hence it relied on a strategy of 20% from its capital, 30% from sales and the remaining 50% from banks."As a leading luxury developer in the industry, we recognise the importance of collaboration and knowledge sharing to drive innovation and progress. We are committed to contributing our efforts to shaping the future of real estate in Qatar," he said.These are exciting times for the property sector in Qatar and across the Gulf Cooperation Council, and it is focused on remaining ahead of the curve to deliver on the promise of creating an unmatched luxury lifestyle, according to him. Alfardan Properties’ portfolio includes properties in Oman and Turkey."Qatar should move from building and development to investments (in the real estate sector) both inside the country and outside," he said.As a premier real estate developer committed to excellence, innovation, and sustainability, Alfardan Properties, which is the Gold sponsor for the event, recognises the importance of industry collaboration and knowledge sharing.The company firmly believes in actively contributing to the advancement and growth of the real estate sector in Qatar.The Qatar Real Estate Forum serves as a pivotal platform that brings together industry experts, government officials, investors, and key stakeholders to discuss and address critical issues shaping the real estate landscape in Qatar and beyond.This year's forum focused on the theme of "Regulations and Legislations for an Optimal Quality of Life and a Sustainable Real Estate Industry.'The event offers an unparalleled opportunity to explore emerging trends, gain insights into the latest technological advancements, and establish valuable connections within the industry. With a focus on sustainable development and innovation, this event will play a crucial role in fostering a vibrant and resilient real estate sector in Qatar.The first edition of the forum in Qatar saw the participation of a number of ministers, companies in the real estate sector in Qatar and key personalities from Doha and the region.

The Qatar Stock Exchange (QSE) Sunday opened the week on a stronger note with its key index gaining as much as 188 points, reflecting last week's optimism in view of an expected.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[38478]**pause in rate hike in the US.An across the board buying – particularly in industrials, banking and telecom counters – led the 20-stock Qatar Index surge 1.84% to 10,397.01 points.The foreign institutions turned net buyers in the main market, which however recovered from an intraday low 10,249 points.More than 79% of the traded constituents extended gains to investors in the main bourse, whose year-to-date losses narrowed further to 2.66%.The Gulf institutions continued to be bullish but with lesser vigour in the main bourse, whose capitalisation shot up QR10.18bn or 1.68% to QR616.14bn, mainly on account of large and midcap segments.The Arab retail investors were also seen net buyers but with lesser intensity in the main bourse, which saw a total of 13,198 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.5mn changed hands across nine deals.The domestic institutions were increasingly into net selling in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index zoomed 1.84%, All Share Index by 1.74% and Al Rayan Islamic Index (Price) by 1.67% in the main bourse, whose trade turnover and volumes were on the decline.The industrials sector index plummeted 2.03%, banks and financial services (1.89%), telecom (1.86%), insurance (1.79%), realty (1.37%), consumer goods and services (1.21%) and transport (0.62%).Major gainers in the main market included Qatar General Insurance and Reinsurance, Mannai Corporation, Industries Qatar, Al Khaleej Takaful, Mesaieed Petrochemical Holding, Alijarah Holding, Commercial Bank, Qatar Islamic Bank, QNB, Masraf Al Rayan, Lesha Bank, Widam Food, Mekdam Holding, Qatar Electricity and Water, Mazaya Qatar and Ooredoo.Nevertheless, Dlala, Qatari German Medical Devices, Estithmar Holding, Medicare Group and Al Meera were among the shakers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The foreign funds turned net buyers to the tune of QR44.33mn compared with net sellers of QR67.52mn on June 1.However, the domestic institutions’ net profit booking grew substantially to QR31.21mn against QR0.69mn last Thursday.The Qatari individuals turned net sellers to the extent of QR29.03mn compared with net buyers of QR27.34mn the previous trading day.The foreign individual investors were net sellers to the tune of QR2.42mn against net buyers of QR0.87mn on June 1.The Gulf retail investors turned net profit takers to the extent of QR0.11mn compared with net buyers of QR0.77mn last Thursday.The Gulf institutions’ net buying declined noticeably to QR13r.07mn against QR21.18mn the previous trading day.The Arab individuals’ net buying weakened markedly to QR5.36mn compared to QR18.08mn on June 1.The Arab institutions continued to have no major net exposure for the second straight session.The main market saw about 1% dip in trade volumes to 186.89mn shares, 21% in value to QR468.99mn and 29% in deals to 16,455.

Qatari Diar, a realty giant that has exposure to as many as 27 countries, has so far invested $60bn locally and globally and is open to investing in Ukraine, according to its top official.Addressing the first Qatar Real Estate Forum, organised by the Ministry of Municipality, Abdullah bin Hamad al-Attiyah, chief executive officer of Qatari Diar, also said the domestic market has become a fertile ground for real estate investments and that smart cities, like Lusail, are fast becoming an integral part of the modern economies."We have invested in more than 27 countries and have gained experiences. Our total investments (domestic and international) are (to the tune of) $60bn," he said, adding the company's guiding principle has always been profitability and transformation when it carries out projects, which positively affect the economy and environment.In this regard, he highlighted the investment in Washington City Centre project, which marks Qatari Diar’s first significant investment in the US.He said initially Qatari Diar was apprehensive of the project because the crime rate in the region but after its completion, the project made positive impact in the neighbouring areas.Its other projects in the US include Conrad Hotel, Washington DC and The Jacx in New Yok; while its Americas portfolio has also Panama Pacifico.Its UK portfolio include Chelsea Barracks, East Village, Elephant and Castle, Lewisham Gateway, Southbank Palace and The Chancery Rosewood in London; New Maker Yards in Manchester; and projects in Leeds and Glasgow.The African investments include Citygate (Egypt), Newgiza (Egypt), The St Regis Cairo (Egypt), Al Houara Resort (Morocco), and Mushaireb (Khartoum, Sudan).Highlighting that Qatar, Egypt, the US and UK formed a major part of its portfolio; he said it was open to any regions that offered potential."In Ukraine, there is an opportunity and we can benefit from that," al-Attiyah said.On the domestic front, he said Qatar tries to attract investors and real estate developers through a wide range of legislative, tax and infrastructure facilitations, along with free ownership assurances and others. Infrastructure in Qatar has been designed to accommodate 5mn people but the current size is 2.7mn; implying the growth potential,He highlighted the country's direct support to the real estate sector such as incentive packages, laws that allow non-Qataris to own real estate, according to the Cabinet Resolution No 28 of 2020.It was announced that 25 areas would be allocated, where non-Qataris would be allowed to own property under the usufruct system, and nine other areas where free ownership would be allowed.Regarding the legacy of World Cup's contribution to improving the sector's revenues and returns, there has been "remarkable" rise in occupancy rates of real estate units, including hotels, thus contributing to the recovery of the sector.On the future of real sector in Qatar, al-Attiyah said the country has a promising potential in view of the investment friendly environment, safety and security; and economic stability.Asserting that hosting the FIFA World Cup Qatar 2022 was the beginning for Qatar but not the end, adding that the tournament revealed that Qatar is a secure and perfect family place for people to live and invest in, and the country has been working for the future and not for the tournament only, the Qatar News Agency reported.Al-Attiyah noted that the tournament was a big challenge and motive for Diar to prove that Lusail City, which was implemented by the company, was ready for the tournament in record time. He said the city is designed to accommodate 450,000 people, and its population has increased by more than 5% compared to the same period last year, which underscores the substantial growth Lusail is witnessing. Its infrastructure has been connected with public utilities by leveraging cutting-edge technology, he added.

Amidst uncertainty surrounding the US debt deal and weaker than expected Chinese output, the Qatar Stock Exchange (QSE) saw its index plummet 247 points and capitalisation erode.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[37819]**QR16bn this week. The industrials, real estate and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index tanked 2.36% this week which saw the QSE outline its plans to migrate to new power trading system, powered by London Stock Exchange Group, from June 8.The domestic institutions were seen increasingly into net profit booking this week which saw Meeza initial public offering to hit the market from June 6.The foreign retail investors turned bearish this week which saw Qatar’s port reported 6% year-on-year growth in vessels docking in May 2023.About 82% of the traded constituents were in the red in the main market this week which saw Qatar’s producers’ price index ease both on annualised and monthly basis this April.The Islamic equities were seen declining slower than the other indices this week which saw Qatar Insurance receive approval from the cabinet to increase its foreign ownership limit up to 100%.The Gulf institutions’ substantially weakened net buying had its influence in the main market this week which saw Qatar’s trade surplus grow 3.5% month-on-month in April.However, the local retail investors were seen increasingly into net buying this week this week which saw global insurance rating agency A M Best reaffirm Qatar General Insurance and Reinsurance Company’s financial strength rating of B++ (good).The Arab institutions were seen net buyers, albeit at lower levels, this week which saw a total of 0.89mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR2.05mn trade across 60 deals.The foreign funds continued to remain bearish but with lesser vigour in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.13mn change hands across 13 transactions.Market capitalisation was seen eroding 2.59% to QR605.96bn on the back of large and midcap segments this week which saw the banks and realty sectors together constitute more than 58% of the total trade volume in the main market.The Total Return Index tanked 2.36%, the All Share Index by 2.26%, and the All Islamic Index by 1.95% this week, which saw no trading of sovereign bonds.The industrials sector index plummeted 4.12%, realty (2.89%), telecom (2.74%), banks and financial services (2.02%), and consumer goods and services (1.97%); whereas insurance and transport gained 0.59% and 0.43% respectively this week which saw no trading of treasury bills.Major losers in the main market included Inma Holding Widam Holding, Dlala, QLM, Qatar General Insurance and Reinsurance, QNB, Commercial Bank, Doha Bank, Masraf Al Rayan, Salam International Investment, Baladna, Mekdam Holding, Industries Qatar, Aamal Holding, Gulf International Services, Estithmar Holding, Beema, Ezdan, Barwa, Mazaya Qatar, Ooredoo and Gulf Warehousing. In the venture market, Al Faleh Educational Holding saw its share depreciate in value this week.Nevertheless, Qatari German Medical Devices, Qatar Insurance, Dukhan Bank, QIIB and Milaha were among the gainers this week.The domestic funds’ net selling strengthened markedly to QR76.67mn compared to QR63.12mn the week ended May 25.The foreign individuals turned net sellers to the tune of QR3.64mn against net buyers of QR4.65mn a week ago.The Gulf institutions’ net buying declined considerably to QR72.89mn compared to QR142.72mn the previous week.The Gulf individuals investors’ net buying eased marginally to QR0.74mn against QR0.82mn the week ended May 25.However, Qatari individuals’ net buying strengthened perceptibly to QR82.69mn against QR78.19mn a week ago.The Arab retail investors’ net buying shot up substantially to QR35.42mn compared to QR16.39mn the previous week.The Arab institutions turned net buyers to the tune of QR0.56mn against net profit takers of QR0.01mn a week ago.The foreign institutions’ net selling weakened noticeably to QR112mn compared to QR179.65mn a week ago.The main market witnessed a 17% contraction in trade volumes to 1.45mn shares but on 17% jump in value to QR4.32bn and a marginal 0.01% in deals to 108,067.

The aggregate budgeted expenditure in the GCC or Gulf Co-operation Council countries (excluding Bahrain) during the current fiscal year is estimated to be in line with previous year levels at $487.1bn, according to Kamco Invest, a regional economic think-tank.The aggregate budgeted revenues are estimated at $473.6bn, down 8.1% on an annualised basis, mainly due to a fall in crude oil prices this year compared with last year, Kamco said in a report.In 2023, the budgeted oil price by most countries is above $60 per barrel, barring Oman which has based its budget on an oil price of $55 per barrel. The UAE did not disclose the oil price on which it has based its federal budget, it said.The aggregate fiscal deficit for the GCC countries (excluding Bahrain) is expected to reach $13.5bn in 2023 compared to a surplus of $27.9bn previous year.The report said the governments in the region announced expansionary budgets for sectors such as health care, education and infrastructure and have also planned large scale infrastructure and construction spending."At the same time, main focus has been given to re-alignment of non-oil sectors in the economy and its contribution going forward," Kamco said.Saudi Arabia is expected to account for around 64.4% of the aggregate budgeted revenues during the year in the GCC. Kuwait and Qatar are expected to follow at 13.4% and 13%, respectively.In terms of spending Saudi Arabia is expected to account for 61.7% of the aggregate expenditure in the GCC this year. Meanwhile, the overall GCC project pipeline is expected to reach $110bn in new project awards, according to MEED projects, with almost all countries in GCC slated to see growth on a year-on-year basis.Finding that oil prices have remained volatile this year with strong support at $70 and a resistance at $90; the report said Brent crude spot averaged at $80.9 per barrel since the start of the year and is expected to average at $87 this year, according to Bloomberg consensus estimates.The volatility in oil prices came from several factors including elevated inflation levels, uncertain demand growth in China, the ongoing Russia/Ukraine conflict, the more recent US debt ceiling talks and Opec+ cuts.In terms of budget balance, the UAE is budgeted to breakeven while Saudi Arabia and Qatar are estimated to report a surplus ranging between $4bn and 8bn. Oman and Kuwait are expected to report deficits this year."It is expected that the actual deficit in 2023 may be significantly lower than the budgeted deficit due to the conservative estimate of budgeted oil prices," Kamco said.In light of increasing oil prices, several governments have also taken into account an increase in government subsidies and grants, according to the report.

The Qatar Stock Exchange on Thursday gained more than 54 points with six of the seven sectors, particularly insurance and banking sectors, witnessing higher than average demand.The local retail investors were increasingly net buyers as the 20-stock Qatar Index rose 0.53% to 10,208.9 points.The Arab retail investors were also increasingly bullish in the main market, which however recovered from an intraday low 10,231 points.More than 55% of the traded constituents extended gains to investors in the main bourse, whose year-to-date losses narrowed to 4.42%.The Gulf institutions turned net buyers in the main bourse, whose capitalisation added QR1.68bn or 0.28% to QR605.96bn, mainly on account of midcap segments.The domestic institutions’ weakened net profit booking had its influence in the main bourse, which saw a total of 0.32mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.75mn changed hands across 18 deals.The Gulf retail investors turned net buyers, albeit at lower levels, 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 shrank 0.53%, the All Share Index by 0.54% and the Al Rayan Islamic Index (Price) by 0.45% in the main bourse, whose trade turnover and volumes were on the decline.The insurance sector index expanded 1.01%, banks and financial services (0.72%), consumer goods and services (0.61%), telecom (0.6%), transport (0.55%) and real estate (0.53%); while industrials were down 0.01%.Major shakers in the main market included Dlala, Widam Food, Inma Holding, Qatari German Medical Devices, Al Khaleej Takaful, Dukhan Bank and Ezdan.Nevertheless, Lesha Bank, Al Meera Holding, Aamal Company, Alijarah Holding, Mazaya Qatar, Commercial Bank, Mannai Corporation, Qatar Insurance, United Development Company and Nakilat were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The Qatari individuals’ net buying increased noticeably to QR27.34mn compared to QR25.67mn on May 31.The Gulf institutions turned net buyers to the tune of QR21.18mn against net profit takers of QR4.26mn on Wednesday.The Arab individuals’ net buying strengthened markedly to QR18.08mn compared to QR11.13mn the previous day.The foreign individual investors were net buyers to the extent of QR0.87mn against net sellers of QR5.37mn on May 31.The Gulf retail investors turned net buyers to the tune of QR0.77mn compared with net sellers of QR0.54mn on Wednesday.The domestic institutions’ net profit booking plunged substantially to QR0.69mn against QR103.69mn the previous day.However, the foreign funds turned net sellers to the extent of QR67.52mn compared with net buyers of QR76.98mn on May 31.The Arab institutions had no major net exposure against net buyers to the extent of QR0.06mn on Wednesday.The main market saw a 63% plunge in trade volumes to 188.12mn shares, 71% in value to QR589.73mn and 9% in deals to 23,329.

Qatar's maritime sector saw higher vessel docking in May 2023 on an annualised basis with its three major ports recording robust jump in building materials and livestock traffic through them, according to official statistics.The ports – Hamad, Doha and Al Ruwais – showed a strong double-digit expansion in terms of livestock on monthly basis in the review period, according to the figures released by Mwani Qatar.The number of ships calling on Qatar's three ports stood at 227 this May, which was 6.07% higher than those witnessed the previous year period; but was down 0.44% compared to those in April 2023.Hamad Port, which offers opportunities to create cargo movement towards the upper Gulf, supporting countries such as Kuwait and Iraq and south towards Oman – plays a vital role in diversifying Qatar's economy and making it more competitive in line with Qatar National Vision 2030 goals.The building materials traffic through the three ports stood at 62,456 tonnes in May 2023, which zoomed 94.72% and 71.3% year-on-year and month-on-month respectively in the review period.A total of 233,553 tonnes of building materials had been handled by these ports in the first five months of 2023.The three ports handled 48,930 livestock heads in May 2023, which zoomed 727.32% on a yearly basis but declined 30.28% month-on-month. The three ports together handled as many 271,019 livestock heads during January-May this year.The general (break and bulk) cargo handled through the three ports was 82,688 tonnes in May 2023, which showed a 48.18% and 66.91% on yearly and monthly basis respectively.On a cumulative basis, the general cargo movement through the three ports amounted to 950,195 tonnes during January-May 2023.The container handling through three ports stood at 95,317 TEUs (twenty-foot equivalent units), which fell 19.05% and 8.3% year-on-year and month-on-month respectively in May 2023.The container handling through the three ports stood at 537,066 TEUs during the first five months of this year.The container terminals have been designed to address the increasing trade volume, enhancing ease of doing business as well as supporting the achievement of economic diversification, which is one of the most important goals of the Qatar National Vision 2030.The three ports handled 6,214 RORO in May 2023, which registered a 10.12% and 22.57% decline year-on-year and month-on-month respectively. The three ports together handled as many as 32,619 vehicles during January-May 2023.

Reflecting the lower oil prices and apprehensions on Chinese economic data, the Qatar Stock Exchange (QSE) on Tuesday witnessed a huge 184 points plunge in key index and QR10bn in capitalisation.An across the board selling – particularly in the real estate, industrials and consumer goods –led the 20-stock Qatar Index to drop 1.78% to 10,154.81 points.The domestic institutions turned bearish in the main market, which however touched an intraday high 10,362 points.About 74% of the traded constituents were in the red in the main bourse, whose year-to-date losses widened further to 4.93%.The foreign individuals were seen net sellers in the main bourse, whose capitalisation tanked 1.66% to QR604.28bn, mainly on account of large and midcap segments.The Gulf institutions were also seen as net profit takers in the main bourse, which saw a total of 0.14mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.39mn changed hands across 20 deals.The Gulf retail investors turned net sellers, albeit at lower levels, 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 shrank 1.78%, the All Share Index by 1.78% and the Al Rayan Islamic Index (Price) by 1.53% in the main bourse, whose trade turnover and volumes soared.The realty sector index plummeted 3.28%, industrials (2.69%), consumer goods and services (1.86%), banks and financial services (1.52%), telecom (1.35%), insurance (1.03%) and transport (0.82%).Major shakers in the main market included Widam Food, Aamal Company, Mazaya Qatar, Inma Holding, Commercial Bank, Lesha Bank, Salam International Investment, Woqod, Baladna, Mekdam Holding, Industries Qatar, Gulf International Services, Qatari Investors Group, Barwa and Ezdan.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Dukhan Bank, Qatar Islamic Insurance, Doha Insurance, Medicare Group and Vodafone Qatar were among the gainers in the main market.The domestic institutions turned net sellers to the tune of QR103.69mn against net buyers of QR23.87mn on May 30.The foreign individual investors were net sellers to the extent of QR5.37mn compared with net buyers of QR0.65mn on Tuesday.The Gulf institutions turned net profit takers to the tune of QR4.26mn against net buyers of QR37.61mn the previous day.The Gulf retail investors were net sellers to the extent of QR0.54mn compared with net buyers of QR0.01mn on May 30.The Arab institutions’ net buying weakened marginally to QR0.06mn against QR0.42mn on Tuesday.However, the foreign institutions turned net buyers to the tune of QR76.98mn compared with net sellers of QR54.53mn the previous day.The Qatari individuals were net buyers to the extent of QR25.67mn against net profit takers of QR4.22mn on May 30.The Arab individuals turned net buyers to the tune of QR11.13mn compared with net sellers of QR3.8mn on Tuesday.The main market saw a more than doubled trade volumes to 510.12mn shares and value more than triple to QR2.01bn on 10% jump in deals to 25,766.

The Qatar Stock Exchange (QSE) will migrate to new trading system, Millennium, from June 8; enabling derivatives trading in the future and the advent of new products for investors.The new trading system is the offshoot of an agreement signed by the QSE with the LSEG (London Stock Exchange) in 2022. The new QSE solution will be based upon the LSEG’s financial markets product suite, a robust, scalable, and high-performance technology offering, which includes trading, market data, data analytics, and market surveillance."Members, data vendors are required to switch their production trading, post trade and all peripheral systems (web service, equator terminals, Oracle webforms) to align with the new trading system (Millennium)," a QSE communique said.All open orders will be cancelled by the QSE after the end of trading on June 7, 2023. Any open orders remaining in broker systems will have to be manually deleted by the brokers.Brokers' systems are required to be connected to the new trading system (including IP address, ports, usernames, and passwords).The bourse requested brokers to retain UTP Trading System configuration details in the case of a system rollback.Broker firms are requested to send a confirmation e-mail to the QSE upon successful connection to the new trading and all related systems (prior to the opening auction call).The current trading timetable will be maintained without any change, the QSE spokesman said, adding it is the brokers’ responsibility to re-enter the cancelled orders.The new trading system enables QSE to have a proven technology solution, offering high performance, low latency matching and a powerful market surveillance solution including market data visualisation and analytics.LSEG’s financial markets technology products are used by over 25 financial markets infrastructure operators across the globe, including Johannesburg Stock Exchange, Singapore Exchange and LSEG.

An across the board selling – particularly in the real estate, insurance and industrials – Tuesday dragged the Qatar Stock Exchange (QSE) more than 64 points and its .text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px; }@media only screen and (max-width: 767px) {.text-box {width: 30%;} } **media[36578]** capitalisation eroded QR4bn. The foreign institutions were seen increasingly into net selling as the 20-stock Qatar Index shed 0.62% to 10,338.73 points, in contrast to the regional markets that closed higher on prospects of the US averting a major debt default. About three-fourth of the traded constituents were in the red in the main market, which however touched an intraday high 10,442 points. The local retail investors were seen net profit takers in the main bourse, whose year-to-date losses widened further to 3.21%. The Arab individuals were seen bearish in the main bourse, whose capitalisation shed 0.71% to QR614.51bn, mainly on account of midcap segments. The weakened net buying of foreign and Gulf individuals had its influence in the main bourse, which saw a total of 4,787 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn changed hands across three deals. However, the Gulf and domestic institutions were increasingly net buyers 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 shrank 0.62%, All Share Index by 0.68% and Al Rayan Islamic Index (Price) by 0.99% in the main bourse, whose trade turnover grew amidst lower volumes. The realty sector index plummeted 2.17%, insurance (1.14%), industrials (1.11%), transport (0.75%), consumer goods and services (0.62%), banks and financial services (0.28%) and telecom (0.25%). Major shakers in the main market included Mazaya Qatar, Al Khaleej Takaful, Gulf International Services, Qatar Oman Investment, Alijarah Holding, Industries Qatar, Masraf Al Rayan, Lesha Bank, Qatari German Medical Devices, Salam International Investment, Widam Food, Al Meera, Qatari Investors Group, Estithmar Holding, Qamco, Qatar Insurance, Ezdan, Milaha and Gulf Warehousing. Nevertheless, Beema, Dlala, Doha Bank, QLM and Commercial Bank were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value. The foreign institutions’ net selling increased substantially to QR54.53mn compared to QR34.11mn on May 29. The Qatari individuals turned net sellers to the tune of QR4.22mn against net buyers of QR20.63mn the previous day. The Arab individuals were net sellers to the extent of QR3.8mn compared with net buyers of QR2.92mn on Monday. The foreign individual investors’ net buying declined perceptibly to QR0.65mn against QR1.72mn on May 29. The Gulf retail investors’ net buying weakened marginally to QR0.01mn compared to QR0.37mn the previous day. However, the Gulf institutions’ net buying increased significantly to QR37.61mn against QR3.45mn on Monday. The domestic institutions’ net buying enhanced considerably to QR23.87mn compared to QR4.94mn on May 29. The Arab institutions’ net buying strengthened noticeably to QR0.42mn against QR0.08mn the previous day. The main market saw a 7% contraction in trade volumes to 239.16mn shares but on 14% jump in value to QR653.86mn and 18% in deals to 23,490.

The initial public offering (IPO) of Meeza QSTP, a leading provider of end-to-end IT services in Qatar, will hit the market on June 6, seeking to raise QR438.7mn from retail investors and institutions other than qualified investors.As much as 62.59% of the offer shares (constituting 203.1mn) are currently being offered to eligible investors, including Qatari citizens and legal entities incorporated in Qatar, at an offer price of QR2.17 (including the listing fees of QR0.01 a share).The IPO of Meeza, whose net income saw a compound annual growth rate of 22.4% over the last three years to reach QR52.1mn in 2022 (15% net income margin), will be on tap until June 19.The minimum order by individual and corporate investors has been set at 500 offer shares and the maximum order by individual and corporate investors at 32.45mn offer shares.The total offering size of the maiden offer is QR700.9mn, which includes 121.39mn shares (or 37.41%) allotted to qualified investors at QR2.17 through the country's first ever book building process for an IPO.The share capital of Meeza is QR648.98mn, divided into 648.98mn shares of QR1 each. A half of it (50%) - equivalent to 324.49mn shares - are being offered at an offer price of QR2.17, making the total size of the offering QR700.9mn (excluding the offering costs of QR0.01 per share).The offer price of the shares comprising the share capital was determined by qualified investors in Qatar through the first book building process ever pursued to price an IPO on the Qatar Stock Exchange (QSE).The company offered the offer shares to a set of qualified investors during the book building subscription period that ran from January 15, 2023 to March 6, 2023.Meeza’s founders - Qatar Foundation for Education, Science and Community Development (QF) and Ooredoo - are strongly committed to its future success and will be retaining at least 50% shareholding in the company post-IPO.Post-IPO, QF is expected to retain at least 40%, Ooredoo 10%, qualified investors 18.71%, and individual and corporate investors up to 31.29%.The company has consistently recorded strong and stable growth over the last three years with revenue growing at an 11.3% CAGR between 2020 and 2022, coupled with an EBITDA (earnings before interest taxes depreciation and amortisation) CAGR of 10.9% over the same period, driven by a significant growth in demand for data centre capacity and ancillary IT services.Seven qualified investors had subscribed to 121.39mn shares and the order book was closed at a final offer price of QR2.17 per share.The final pricing of the shares outside the latest price range is a testament of the effectiveness of the book building mechanism to transparently price the IPO based on supply and demand, considering market conditions and feedback received from qualified investors during the book building subscription period.The company will submit an application to the Qatar Financial Market Authority and the QSE to list the Shares on the QSE in accordance with the listing requirements of the regulator and the procedural rules of the QSE. The listing is expected to be in July 2023.

The Qatar Stock Exchange Monday fell more than 23 points, dragged mainly by industrials, banking and consumer goods sectors. .text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[36045]**The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index shed 0.22% to 10,403.05 points.The Gulf institutions’ weakened net buying had its influence in the main market, which touched an intraday high 10,457 points.The losers outnumbered gains by a slender margin in the main bourse, whose year-to-date losses widened further to 2.6%.The Arab individuals’ lower net buying also had its say in the main bourse, whose capitalisation shed QR1.09bn or 0.18% to QR618.89bn, mainly on account of microcap segments.However, the local retail investors were seen increasingly into net buying in the main bourse, which saw a total of 5,816 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.01mn changed hands across seven deals.The domestic institutions turned net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen making gains vis-à-vis declines in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index declined 0.22% and All Share Index by 0.19%, while Al Rayan Islamic Index (Price) rose 0.23% in the main bourse, whose trade turnover grew amidst lower volumes.The industrials sector index shrank 0.62%, banks and financial services (0.5%) and consumer goods and services (0.36%); whereas real estate gained 1.88%, transport (1.46%), telecom (0.45%) and insurance (0.32%).Major shakers in the main market included QLM, Beema, Qatar General Insurance and Reinsurance, Qatar Islamic Insurance, Doha Bank and Commercial Bank. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Qatari German Medical Devices, Widam Food, Al Khaleej Takaful, Milaha, Qatari Investors Group, Aamal Company, Qatar Insurance, Barwa, United Development Company and Ezdan were among the gainers in the main market.The foreign institutions’ net selling increased perceptibly to QR34.11mn compared to QR32.83mn on May 28.The Gulf institutions’ net buying weakened noticeably to QR3.45mn against QR14.92mn the previous day.The Arab individual investors’ net buying shrank markedly to QR2.92mn compared to QR7.1mn on Sunday.However, the Qatari individuals’ net buying increased significantly to QR20.63mn against QR13.27mn on May 28.The domestic funds turned net buyers to the tune of QR4.94mn compared with net sellers of QR1.09mn the previous day.The foreign individuals were net buyers to the extent of QR1.72mn against net sellers of QR1.51mn on Sunday.The Gulf retail investors’ net buying strengthened marginally to QR0.37mn compared to QR0.13mn on May 28.The Arab institutions turned net buyers to the tune of QR0.08mn against no major net exposure the previous day.The main market saw less than 1% shrinkage in trade volumes to 255.9mn shares but on 16% jump in value to QR573.8mn and 28% in deals to 19,953.

Increased shipments of crude and non-crude led Qatar register a 3.5% month-on-month growth in trade surplus this April, according to the official statistics.The increase in the country's merchandise trade surplus has been enabled by robust expansion in the shipments to South Korea during the period in review, said the figures released by the Planning and Statistics Authority.Qatar's trade surplus however showed a 35.6% plunge on an annual basis in April 2023 as the exports fell faster than the imports.The country's total exports of goods (including exports of goods of domestic origin and re-exports) were QR30.69bn, showing a 0.5% and 29.4% decline month-on-month and year-on-year respectively in April 2023.The exports of other commodities expanded 6.7% on a monthly basis to QR3.65bn in April 2023, crude by 3.2% to QR5.04bn and non-crude by 2.6% to QR2.61bn; whereas petroleum gases and other gaseous hydrocarbons' exports fell 2.4% to QR18.57bn.On a yearly basis, the exports of petroleum gases and other gaseous hydrocarbons plummeted 33.2%, non-crude by 29%, crude by 25.8% and other commodities by 20.1% in the review period.Petroleum gases constituted 62.19% of the exports of domestic products in April 2023 compared to 64.91% a year ago period; followed by crude 16.88% (15.84%), non-crude 8.74% (8.6%) and other commodities 12.22% (10.65%).In April 2023, Qatar's shipments to China amounted to QR5.63bn or 18.3% of the total exports of the country, followed by South Korea QR5.11bn (16.6%), India QR3.51bn (11.4%), Singapore QR2.16bn (7%), and Japan QR2.05bn (6.7%).On a monthly basis, Qatar's exports to South Korea were up 4.8%; while those to Japan declined 18.19%, China by 12.11%, Singapore by 6.22% and South Korea by 4.8% in April 2023.On a yearly basis, Qatar's exports to Japan plunged 54.89%, India by 36.5%, Singapore by 25.44% and China by 14.28%; whereas those to South Korea soared 22.01% in the review period.Qatar's total imports (valued at cost insurance and freight) amounted to QR8.69bn, which showed 9.3% and 6.3% decrease month-on-month and year-on-year respectively in April 2023.The country's imports from the US stood at QR1.28bn, which accounted for 14.7% of the total imports; China QR1.13bn (13%); India QR0.53bn (6.1%), Italy QR0.47bn (5.4%) and Germany QR0.42bn (4.9%) in the review period.On a monthly basis, the country's imports from India shrank 23.81%, China by 22.66%, Italy by 6.97% and the US by 3.4%; whereas those from Germany shot up 9.3% in April 2023.On a yearly basis, Qatar's imports from the US plummeted 30.84%, Germany by 20.64%, Italy by 18.64%, India by 12.29% and China by 2.85% in the review period.In April 2023, the group of "Motor Cars & Other Motor Vehicles for The Transport of Persons” was at the top of the imported group of commodities, with QR0.4bn, a fall of 1.5% year-on-year in the review period.In the second place was "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" with QR0.36bn, showing an annual contraction of 47.5%.In third place was "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets; Parts thereof” with QR0.2bn, showing a 21.4% shrinkage in April 2023.