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The Qatar Stock Exchange gained about 300 points and capitalisation added QR15bn this week, notwithstanding global apprehensions over sharp US interest rate hike. The banking and telecom counters witnessed higher than average demand as the 20-stock Qatar Index vaulted 2.28% this week, which saw global credit rating agency Moody’s view that Qatar and Oman are among the Gulf countries to benefit the most from the high oil prices. The foreign institutions were increasingly net buyers this week, which saw Moody’s senior analyst Nitish Bhojnagarwala opine that Qatar’s banks are expected to improve the bottom-line this year. More than 53% of the traded constituents extended gains to investors this week, which saw the bourse report that Qatar Insurance Company will replace Salam International Investment in the main barometer, effective from October 1. The Gulf institutions were seen bullish, albeit at lower levels, this week, which saw Qatar’s consumer price index inflation jump 4.8% on an annualised basis this August. However, the domestic funds were increasingly net sellers this week, which saw Qatar Central Bank Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani disclose that the country’s Islamic banks’ asset amount to $154bn at the end of June 30, 2022. The local retail investors’ net selling grew considerably this week, which saw a total of 0.23mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.64mn trade across 41 deals. The Gulf funds turned net profit takers this week, which saw as many as 0.2mn Doha Bank-sponsored QETF valued at QR2.53mn change hands across 83 transactions. The overall trading turnover and volumes were on the increase in the main market and similar was the trend in the venture market this week, which saw the industrials and banking sectors together constitute about 57% of the total trade volume in the main market. Market capitalisation gained QR14.89bn or 2.07% to QR734.34bn, mainly on large and midcap segments this week, which saw no trading of sovereign bonds. The Total Return Index zoomed 2.28%, the All Share Index by 2.47% and the All Islamic Index by 0.85% this week, which saw no trading of treasury bills. The banks and financial services sector index shot up 4.71%, telecom (3.76%), real estate (0.85%), insurance (0.77%) and industry (0.37%); while transport declined 3.18% and consumer goods and services 1.13% this week. Major gainers in the main market included Qatar Islamic Bank, QNB, Ooredoo, Commercial Bank, QLM, Alijarah Holding, Inma Holding, Qatari German Medical Devices, Medicare Group, Qatar Electricity and Water and United Development Company. In the venture market, Mekdam Holding saw its shares appreciate in value this week. Nevertheless, Mannai Corporation, Qatar Cinema and Film Distribution, Milaha, Widam Food, Ezdan, Doha Bank, Qatar National Cement, Estithmar Holding 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 foreign funds’ net buying increased significantly to QR539.44mn compared to QR120.91mn the week ended September 8. The Arab institutions turned net buyers to the tune of QR0.67mn against net sellers of QR0.37mn the previous week. However, the domestic institutions’ net selling grew substantially to QR377.57mn compared to QR88.06mn a week ago. The local retail investors’ net selling expanded drastically to QR138.37mn against QR58.05mn the week ended September 8. The Gulf institutions were net profit takers to the extent of QR21.54mn. The Gulf individuals turned net sellers to the tune of QR7.66mn compared with net buyers of QR24.65mn a week ago. The Arab individuals’ net buying decreased markedly to QR3.78mn against QR17.27mn the week ended September 8. The foreign individuals’ net buying weakened perceptibly to QR1.26mn compared to QR4.78mn the previous week. Total trade volume in the main market soared 12% to 760.34mn shares and value by 35% to QR3.4bn; whereas deals were down 8% to 84,778. The venture market reported a 3% jump in trade volumes to 1.16mn stocks, 19% in value to QR8.27mn and 9% in transactions to 443.    

Qatar Fintech Hub (QFTH), which is the second largest investor in Middle East and North Africa (Mena) in fintech, has incubated more than 60 entities with valuation in excess of $400mn, according to the Qatar Development Bank (QDB), which is the founder of QFTH. The QDB is now contemplating to launch green financing products for the small and medium enterprises (SMEs), its chief executive officer Abdulrahman bin Hisham al-Sowaidi told the Islamic Financial Services Board (IFSB) Innovation Forum, which was held yesterday in association with the Qatar Financial Centre (QFC) and the Qatar Central Bank (QCB). Addressing one of the panel discussions ‘The future of Fintech and its role in the wider ESG ecosystem,’ he said even before the start of (Qatar) fintech hub or QFTH, the development institution had helped start a lot of verticals from innovation aspects starting from manufacturing, to sport clusters. Highlighting that through QFTH, it has combined the initiatives of QDB, QFC and QCB; he said it was basically to foster the innovation and it has so far received more than 2,300 applications from more than 70 countries. “We have incubated more than 60 companies across waves,” he said, adding the valuation of these entities has reached more than $400mn. Terming that the country’s fintech strategy has demonstrated the success; al-Sowaidi said QFTH has now been recognised within the global fintech industry. Quoting a report from MAGNiTT, a startups research and intelligence firm, he said QFTH was ranked as the second top investor in fintechs across the Mena region in the first quarter of 2021. Recently Masraf Al Rayan developed a Green deposit in association with QDB. The green deposit is a unique alternative investment solution that allows riyal deposits and other major currencies to be deployed for funding green initiatives. “Just down the road, we can announce, hopefully after getting the approvals, the first green financing product for the SMEs,” he said, without disclosing further details. Highlighting that a lot of environmental friendly products from advisory aspects will also be provided to SMEs; he said “we are not only targeting Green-field projects but also Brown-field projects to help them transform into green element.” Earlier in a special address, QFC Authority chief executive officer Yousuf Mohamed al-Jaida said the outlook of Islamic finance points to strong future growth. “If performed exceedingly well in the last decade. Today, global Islamic finance industry worth is over $2tn and projected to grow to $5bn by 2025,” he said.    

Qatar, whose Islamic banking assets reached $154bn as on June this year, is now in the top five destinations in the global Islamic finance industry, according to a top official of the Qatar Central Bank (QCB). Addressing the fourth IFSB (Islamic Financial Services Board) Innovation forum, QCB Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani said Qatar operates a dual banking system with four Islamic banks and has 28% of the banking assets held by Islamic banks. Quoting 2021 IFSB’s IFSI Stability Report, he said Islamic banking is currently operating in at least 39 jurisdictions, of which it has attained “systemic importance” in 15 jurisdictions, including in Qatar. “With 6.5% of worldwide Islamic banking assets, Qatar is now on the top five destinations in the Islamic finance industry by establishing prudent supervisory and regulatory polices consistent with relevant international standards,” Sheikh Bandar said. Highlighting that the QCB has been playing a prominent role in the country’s financial technology ecosystem; he said “with no one-size fits-all approach to digital transformation; we take a systematic and gradual approach.” With the FIFA World Cup round the corner, the QCB has taken multiple initiatives to ensure safe, quick and affordable digital payments by fostering an ecosystem, he said, in an apparent reference to its latest project to strengthen the payment system. “QCB has begun multi-year strategic initiatives to modernise the prudential architecture for digitalisation and fintech,” Sheikh Bandar said. The project to strengthen the infrastructure for payment and settlement system offers several features such as instant transfers and interoperability between a bank account and digital wallet as well as providing a scalable future payment system, capable of supporting the population growth in Qatar and increasing number of transactions for the next 10 years. In this regard, he said the QCB has issued its first licence for digital payments services to iPay by Vodafone Qatar and Ooredoo Money. The QCB recently disclosed the banks' readiness to launch Google Pay and that all global digital wallet services for cards, such as Apple Pay and Samsung Pay, are now accepted in Qatar, which will enable visitors, especially during the FIFA World Cup Qatar 2022, to process and complete their digital payments. Finding that Qatari lenders have already embarked on green banking and that they are also voluntarily integrating ESG (environment, social and governance) risk analysis into their credit profile and assessment process for corporate clients; he said these are important turning points towards developing a more cohesive and sustainable framework. Sheikh Bandar said recently digital transformation and climate change have captured the attention of the real economy as well as financial and private sectors. These two developments are transforming the role of the central banks and the financial services industry into digital acceleration and innovation, according to him. “As a general principle, these two policies fall under the Qatar National Vision 2030, which focuses on achieving a secure cashless society, which enhance financial inclusion as well as captivating sustainable green economy,” he said.    

Qatar Insurance will replace Salam International in the Qatar Stock Exchange's (QSE) main barometer QE Index, effective October 1. Aamal will be removed from the QE Al Rayan Islamic 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. The other constituents of the main barometer will remain Industries Qatar, QNB, Qatar Islamic Bank, Masraf Al Rayan, Commercial Bank, Doha Bank, Milaha, Woqod, QIIB, Nakilat, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Ooredoo, Barwa, Qamco, Gulf International Services, Ezdan, Baladna and Investment Holding Group. 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. A 15% cap is applied to an individual constituent's weight in the index, with the excess weight distributed proportionately among the remaining index constituents. In such cases, the fixing of shares figures takes place only at rebalance dates. 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 other constituents of the Al Rayan Islamic Index are Masraf Al Rayan, Qatar Islamic Bank, Industries Qatar, Milaha, Woqod, Ooredoo, Mesaieed Petrochemical Holding, QIIB, Barwa, Qatar Electricity and Water, United Development Company, Qamco, Vodafone Qatar, Ezdan, Al Meera Consumer Goods, Baladna, Qatar National Cement, Medicare Group, Qatari Investors Group, Gulf Warehousing, Investment Holding Group and Qatar Industrial Manufacturing. In the latest communique, the QSE also said Ahli Bank will join QE All Share Index and QE Banks and Financial Services Sector Index, while Qatar General Insurance and Reinsurance will be removed from QE All Share Index and QE Insurance Sector Index. The bourse has seven sectors – banks and financial services (with 12 constituents), insurance (six), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (10) in the ‘All Share Index’.    

The Qatar Stock Exchange gained more than 120 points and its key index surpassed 13,300 levels, reflecting the optimism in the global market due to the rising oil prices. The banks, insurance and telecom counters witnessed higher than average demand as the 20-stock Qatar Index shot up 0.91% to 13,314.96 points, recovering from an intraday low of 13,205 points. The foreign institutions were increasingly net buyers in the market, whose year-to-date gains were at 14.53%. The Arab individuals were also increasingly bullish in the bourse, whose capitalisation soared QR7.69bn or 1.05% to QR740.95bn, mainly on the back of mid and small cap segments. The Islamic index was seen gaining slower than the other indices in the market, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.47mn changed hands across 14 deals. Trade turnover and volume were on the increase in the main market and it was a similar trend in the venture market. The Gulf institutions turned net buyers in the bourse, which saw no trading of sovereign bonds. The local retail investors were nevertheless bearish in the market, which saw no trading of treasury bills. The Total Return Index gained 0.91% to 27,237.35 points, the All Share Index by 1.15% to 4,229.78 points and the Al Rayan Islamic Index (Price) by 0.17% to 2,916.3 points. The banks and financial services sector index zoomed 2.2%, insurance (1.18%), telecom (0.79%), consumer goods and services (0.15%) and industrials (0.05%); while transport and real estate declined 1.69% and 0.09% respectively. More than 52% of the traded constituents in the main market extended gains with major movers being Alijarah Holding, Inma Holding, QNB, Qatar Islamic Bank, Al Khaleej Takaful, Dlala, Qatar National Cement, Gulf International Services, Qamco, Qatar Insurance, Mazaya Qatar and Ooredoo. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, Milaha, Ezdan, Mannai Corporation, Ahlibank Qatar, QLM, Industries Qatar 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 foreign institutions’ net buying increased significantly to QR242.39mn compared to QR55.91mn on September 12. The Arab individuals’ net buying strengthened perceptibly to QR4.96mn against QR3.23mn the previous day. The Gulf institutions were net buyers to the tune of QR1.29mn compared with net sellers of QR13.14mn on Monday. The Gulf retail investors’ net selling declined noticeably to QR1.12mn against QR7.49mn on September 12. However, Qatari individuals’ net selling grew considerably to QR124.91mn compared to QR17.07mn the previous day. The domestic institutions’ net profit booking rose substantially to QR123.06mn against QR22.25mn on Monday. The foreign individuals’ net buying eased marginally to QR0.47mn compared to QR0.81mn on September 12. The Arab institutions continued to have no major net exposure for the seventh consecutive session. Total trade volume in the main market was up 7% to 149.11mn shares and value by 19% to QR638.22mn, whereas deals shrank 4% to 18,298. The venture market saw trade volumes more than double to 0.2mn equities and value also more than double to QR1.5mn on 88% expansion in transactions to 105.    

Qatar and Oman are the among the Gulf countries to benefit the most from high oil prices, which will buttress balance sheets, according to a top official of Moody's. "Sovereigns most sensitive to oil price fluctuations and with elevated debt burdens could see the most significant improvements in their fiscal and economic strength, exerting upward pressure on their credit profiles. Among those, Oman and Qatar stand to benefit the most," Alexander Perjessy, vice-president, senior credit officer, Moody's yesterday told a media roundtable. The rating agency said elevated oil prices during the next two years will lead to a significant improvement in the fiscal and external positions of Gulf Co-operation Council (GCC) sovereigns, partly reversing their sharp deterioration in their balance sheet since 2015. Moody's said in both Oman and Qatar, it assumes that non-interest spending will grow less than 2% in nominal terms this year and the next. However, in both cases, there is a "significant" degree of uncertainty about how the elevated oil price windfall will be distributed between the national oil company (QatarEnergy and Energy Development Oman) and the budget; and to what extent the budgetary surpluses will be used for debt reduction or to build sovereign fiscal buffers (through transfers to Qatar Investment Authority or to the Petroleum Reserve Fund in Oman). For the higher-rated GCC sovereigns, other than Qatar, upward credit pressures will be limited to modest improvements in economic strength (mainly due to higher nominal gross domestic product or GDP and some pickup in trend growth) but the credit profiles will remain steady and upwardly constrained by the sovereigns' large exposures to longer-term carbon transition risks and their ability to, over time, mitigate these risks. "We expect oil prices to average around $105/barrel in 2022 and $95 in 2023 as geopolitical risks stemming from Russia's military invasion outweigh risks to global oil demand," Perjessi said. Consequently, most hydrocarbon-exporting sovereigns will run twin fiscal and current-account surpluses, allowing the governments to pay down debts, rebuild fiscal reserves and accumulate foreign-currency buffers, thereby reducing government liquidity and external vulnerability risks, he added. The recovery in global oil demand and prices from the 2020 pandemic slump has allowed the major hydrocarbon producers, including those in the GCC region, to ramp up their production by reversing most of the production cuts implemented by the Organisation of Petroleum Exporting Countries and their allies in May 2020. "We expect the combination of higher oil prices and production volumes to lead to a significant improvement in GCC external and government finances, which is likely to be largely sustained through 2023 and, for some, also into 2024," Perjessi said, adding the GCC sovereigns could pay down some of their outstanding debts with the expected fiscal surpluses, or at least keep their debt levels steady in nominal terms.    

Higher oil prices are slated to boost the Gulf funds’ assets under management (AUM) and attract higher fund inflows, according to Moody’s. This will support fee revenues, although the sector also faces headwinds from more volatile markets, higher inflation and rising interest rates, said Moody's 2022 survey of chief investment officers (CIOs) from eight leading GCC fund firms. The key findings were disclosed yesterday at a media roundtable. Respondents expect continued strong demand for Shariah-compliant investments, but foresee more moderate growth in investments that meet environmental social and governance (ESG) criteria. Respondents are bullish regarding AUM levels despite the global market downturn because high oil prices will support the value of their portfolios, which consist mainly of regional assets, while also attracting net new money. This will help counteract the adverse impact of volatile markets, higher inflation and rising rates, it said. Highlighting that the GCC countries are highly dependent on oil exports, it said strong oil prices can boost their economic growth and support public spending. For Saudi Arabia, the GCC’s largest economy, accounting for the majority of the region's assets under management, the rating agency forecasts 7.2% real GDP growth in 2022, up significantly from 3.3% in 2021. "This substantial acceleration reflects increased oil production as well as terms-of trade benefits to the economy from high oil prices and a strong US dollar. This will in turn help spur non-oil sector activity," it said. Finding that market volatility, inflation and rates are key concerns; Moody's said capital market volatility is GCC asset managers' biggest worry over the next 12 months, with a cumulative 88% of respondents placing it among their top three concerns. The GCC asset managers who invest largely in the regional assets have been less exposed to the market volatility experienced by global peers, as high oil prices have buffered domestic equity markets. The GCC asset managers’ second greatest worry is the increasing inflation, cited by a cumulative 75% of respondents as a top three concern. Rising inflation can adversely affect asset valuations, exacerbating market volatility, and increasing outflows. It can also push up asset managers’ input costs, particularly compensation expenses. However, inflation in the GCC countries has increased more modestly than elsewhere, and we expect it to remain below the average for both emerging markets and advanced economies. Observing that appetite for Islamic assets remains strong; Moody's said as much as 63% of survey respondents expect further growth in demand for Islamic investment assets, with the remainder foreseeing broadly stable demand. The same proportion expects demand for Islamic products to outpace demand for conventional investments.    

The Qatar Stock Exchange on Monday gained more than 91 points and its key index inched towards 13,200 levels, paced by strong buying interests in banking, transport and telecom counters. The foreign institutions were increasingly net buyers as the 20-stock Qatar Index gained 0.7% to 13,194.9 points, recovering from an intraday low of 13,097 points. The Arab retail investors were seen bullish in the market, whose year-to-date gains were at 13.5%. The foreign individuals were increasingly into net buying in the bourse, whose capitalisation soared QR5.82bn or 0.8% to QR733.26bn mainly on the back of mid and microcap segments. The Islamic index was seen gaining slower than the other indices in the market, which saw a total of 0.09mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.64mn changed hands across 24 deals. Trade turnover grew amidst lower volumes in the main market, while in the venture market, both turnover and volumes were on the decline. The local retail investors continued to be net sellers but with lower intensity in the bourse, which saw no trading of sovereign bonds. The domestic institutions were increasingly net profit takers in the market, which saw no trading of treasury bills. The Total Return Index gained 0.7% to 27,027.43 points, the All Share Index by 0.81% to 4,181.65 points and the Al Rayan Islamic Index (Price) by 0.45 to 2,911.29 points. The banks and financial services sector index shot up 1.51%, transport (0.95%), telecom (0.83%) and consumer goods and services (0.27%); while insurance declined 1.64%, real estate (0.21%) and industrials (0.17%). Major gainers in the main market included Qatari German Medical Devices, QNB, Milaha, Dlala, QIIB, Baladna, Qatari Investors Group, Aamal Company, Qamco and Ooredoo. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, more than 53% of the traded constituents were in the red with major losers being Mannai Corporation, Qatar Cinema and Film Distribution, Qatar Insurance, Estithmar Holding, Al Khaleej Takaful, Widam Food, Al Meera, United Development Company, Ezdan and Vodafone Qatar. The foreign institutions’ net buying increased noticeably to QR55.91mn compared to QR39.8mn on September 11. The Arab individuals turned net buyers to the tune of QR3.23mn against net sellers of QR4.05mn the previous day. The foreign individuals’ net buying strengthened markedly to QR0.81mn compared to QR0.27mn on Sunday. Qatari individuals’ net selling eased marginally to QR17.07mn against QR17.19mn on September 11. However, the domestic institutions’ net selling grew perceptibly to QR22.25mn compared to QR17.7mn the previous day. The Gulf institutions were net sellers to the extent of QR13.14mn against net buyers of QR0.9mn on Sunday. The Gulf retail investors’ net selling expanded noticeably to QR7.49mn compared to QR2.02mn on September 11. The Arab institutions continued to have no major net exposure for the sixth straight session. Total trade volume in the main market fell 45% to 139.54mn shares, while value zoomed 82% to QR534.82mn on more than doubled deals to 19,099. In the venture market, there was a 65% contraction in trade volumes to 0.09mn equities, 66% in value to QR0.65mn and 30% in transactions to 56.    

Qatar banks are expected to see improvement in bottom-line, and return on assets should reach pre-Covid levels by 2023, according to a top official of Moody's, a credit rating agency. "We expect the banks' bottom-line profitability to continue to improve in 2022 as operating income continues to grow, while provisioning charges should stabilise," Nitish Bhojnagarwala, vice president, senior credit officer, Moody's told a roundtable on Monday. Net profit of the Qatari banks rose 4% year-on-year in the first half of 2022, driven by widening net interest margins and higher noninterest income. The Qatari banks Moody's rates reported an aggregate net profit of QR12.9bn in the review period. The one-off accounting adjustment on hyperinflation in Turkiye, where QNB and Commercial Bank had exposure, had lowered the Qatari banks profitability by QR813mn. Had it not been for the adjustment, Qatar's banks’ bottom-line would have seen an 11% growth in the first half of 2022, he said. The growth in net profit was consistent across the banks with the exception of one bank, and largely driven by an 11% increase in net interest income and 8% growth in noninterest income such as fees and commissions. Highlighting that the banks maintained their capital buffers during the year, supported by strong earnings and solid profit retention, it said their combined tangible common equity marginally increased to 15.4% of risk-weighted assets as of June 2022 from 15.3% a year earlier. "We expect solid profitability to continue to support healthy capital buffers," he added. Expecting Qatar's real gross domestic product or GDP to grow by 2.7% in 2022 (2.4% in 2023) after contracting by 3.6% in 2020; Bhojnagarwala said the recovery this year will be supported by projects and spending linked to the gradual increase in hydrocarbon production, higher oil prices and robust non-hydrocarbon economic activity following a relaxation of travel and restriction of movement measures imposed at the height of the pandemic, and tourism activity related to the 2022 FIFA World Cup. Higher net interest margins or NIMs were driven by asset yields, which rose as interest rates reset during the first half of the year and offset some of the increase in funding costs, he said, adding the funding composition of Qatari banks has shifted, with an increasing reliance on external funding, mostly driven by larger banks. "We expect benchmark interest rates to rise this year, combined with increased lending volumes on the back of robust economic growth, to support Qatari banks' net interest income over the next 12-18 months," he said, adding “a little more bottom-line growth and returns should reach pre-Covid levels, hopefully by next year.” The banks continued to improve their operating efficiency in the first half of the year as income growth surpassed growth in expenses, easing pressure on their bottom-line profit. While the benefits of the cost control measures initiated during the pandemic accrued fully in 2021, aggregate operating expenses for the Qatari banking sector increased by 1% during the current period.    

Rebound in oil prices at the end of last week helped improve sentiments on the Qatar Stock Exchange, which Sunday gained a huge 155 points and its key index crossed the 13,100 levels. The foreign institutions turned bullish as the 20-stock Qatar Index rose 1.19% to 13,103.54 points, recovering from an intraday low of 13,041 points. The real estate and banking counters witnessed higher than average demand in the market, whose year-to-date gains were at 12.71%. More than 73% of the traded constituents extended gains in the bourse, whose capitalisation soared QR7.99bn or 1.11% to QR727.44bn mainly on the back of large and midcap segments. The Islamic index was seen gaining faster than the other indices in the market, which saw a total of 0.09mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.05mn changed hands across 38 deals. Trade turnover and volumes were on the decline in the main market, while the venture market saw higher turnover and volumes. The local retail investors were however net sellers in the bourse, which saw no trading of sovereign bonds. The domestic institutions were increasingly net profit takers in the market, which saw no trading of treasury bills. The Total Return Index gained 1.19% to 26,840.29 points, the All Share Index by 1.1% to 4,148.14 points and the Al Rayan Islamic Index (Price) gained 1.2% to 2,898.3 points. The real estate sector index soared 2.41%, banks and financial services (1.31%), industrials (1.05%), telecom (0.95%), insurance (0.87%) and transport (0.6%); while consumer goods and services declined 0.35%. Major gainers in the main market included QLM, United Development Company, Industries Qatar, Medicare Group, Barwa, Mesaieed Petrochemical Holding, Qatar Islamic Bank, QIIB, Qatar First Bank, Baladna, Estithmar Holding, Ezdan, Ooredoo, Gulf Warehousing and Salam International Investment. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, Mannai Corporation, Widam Food, Qatari German Medical Devices, Woqod and Dlala were among the losers in the main market. The foreign institutions turned net buyers to the tune of QR39.8mn compared with net sellers of QR10.48mn on September 8. However, the domestic institutions’ net selling grew considerably to QR17.7mn against QR0.52mn the previous trading day. Qatari individuals were net sellers to the extent of QR17.19mn compared with net buyers of QR8.01mn last Thursday. The Arab individuals’ net profit booking strengthened markedly to QR4.05mn against QR1.1mn on September 8. The Gulf retail investors’ net selling expanded noticeably to QR2.02mn compared to QR0.63mn the previous trading day. The Gulf institutions’ net buying shrank significantly to QR0.9mn against QR3.88mn last Thursday. The foreign individuals’ net buying eased marginally to QR0.27mn compared to QR0.85mn on September 8. The Arab institutions continued to have no major net exposure for the fifth straight session. Total trade volume in the main market fell 16% to 95.92mn shares, value by 37% to QR295.22mn and deals by 49% to 9,145. In the venture market, there was an 18% jump in trade volumes to 0.26mn equities and 16% in value to QR1.9mn but on 24% shrinkage in transactions to 80.

Qatar has witnessed increased reuse of treated wastewater for agricultural purposes in July on an annualised basis, indicating the country's commitment towards sustainability. Qatar’s treated wastewater stood at 21.42mn cubic metres out of 21.84mn cubic metres of wastewater received in July this year, the PSA said. The treated wastewater saw 1.7% and 1.1% growth year-on-year and month-on-month respectively in the review period. The treated wastewater reused for agriculture witnessed a 17.7% year-on-year growth to 7.33mn cubic metres, which accounted for more than 34% of the total treated wastewater. On yearly basis, the reuse of treated wastewater for agriculture saw a 1.1% jump in July 2022. Qatar Environment and Energy Research Institute, part of Hamad Bin Khalifa University, has developed a seawater desalination pilot plant which is showing higher efficiency than conventional technology – both in energy recovery to reduce thermal energy consumption, and cost effectiveness. The agriculture sector has been receiving increased thrust and support of the sovereign as part of the self-sustaining initiatives. Qatar plans to achieve 70% self-sufficiency in the production of certain vegetables by 2023 but water resource remains a major concern to sustainably continue its journey, Dr Sa’d Abdel-Halim Shannak, a scientist at Qatar Environment and Energy Research Institute, had said recently. “Maximising use of treated wastewater and pricing reform,” he said. The treated wastewater reused in irrigation of green spaces amounted to 10.96mn cubic metres, which accounted for more than 50% of the total treated wastewater this July. The reuse of treated wastewater in irrigation of green spaces witnessed a 0.6% yearly increase but saw a 4.2% plunge on yearly basis in the review period. The treated wastewater reused in deep injection into aquifers stood at 2.23mn cubic metres, but registering 26.1% and 2.4% decline year-on-year and month-on-month respectively in August 2022. Such reuse accounted for more than 10% of the total treated wastewater in the review period. A large quantity of treated wastewater – up to 40% – which at certain times of the year – is either discharged to lagoons or injected to the deep aquifers, Dr Shannak said. The treated wastewater discharged into lagoons in July this year stood at 1.32mn cubic metres or more than 6% of the total treated wastewater re-used. Such discharge saw a 3.4% and 61.5% surge on yearly and monthly basis respectively. There was no discharge of treated wastewater into the sea in August 2022. The PSA bulletin said the water produced was 58.51mn cubic metres; while consumption was 57.41mn cubic metres in the review period.

The brokerage subsidiary of Commercial Bank as well as Wasata Financial Services witnessed more than doubling of its share trade turnover year-on-year during the first eight months of this year, according to Qatar Stock Exchange data. The Group Securities, QNB Financial Services and Commercial Bank Financial Services (CBFS) together accounted for more than 83% of the share trade turnover of the brokerages in the QSE during the review period. The Group Securities’ share stood at 38.15% in January-August 2022 compared to 46.12% in the previous-year period. Its trading turnover surged 32.8% year-on-year to QR94.87bn. The transactions through it expanded 27.44% to 2.09mn even as volumes shrank 7.51% to 41.04mn equities at the end of August 30, 2022. The QNB subsidiary QNBFS' trade turnover amounted to QR79.52bn, which constituted 31.98% of the total traded value during January-August 2022 against 27.05% a year-ago period. The turnover zoomed 89.74% year-on-year as volumes shot up 60.45% to 10.83mn stocks on more than tripled transactions to 2.07mn in the review period. CBFS accounted for 12.53% of trade turnover compared to 8.59% during January-August 2021. The brokerage house's trade turnover more than doubled year-on-year to QR31.15bn as volumes also more than doubled to 6.78mn shares and deals more than doubled to 796,359 in the review period. CBFS last year launched its margin trading product, becoming the first bank brokerage subsidiary in Qatar to launch such a product. The Qatar Financial Market Authority had approved the Group Securities and Commercial Bank Financial Services as liquidity providers, while saying other licences are on the pipeline. In May 2013, the financial market regulator had approved the liquidity provision scheme that can be carried out by the financial services firms. Qatar Securities accounted for 7.25% of trade turnover during January-August 2022 compared to 7.19% the previous year period. The brokerage's trading turnover surged 61.85% year-on-year to QR18.03bn although volumes through it fell 3.25% to 2.98mn equities despite almost doubled transactions to 190,172 at the end of August 2022. Wasata Financial Securities' share was 3.98% of trading turnover during January-August compared to 2.62% in the comparable period of 2021. Its trade turnover more than doubled year-on-year to QR9.89bn as volumes zoomed 54.74% to 2.94mn shares and transactions more than doubled to 152,262 at the end of August 31, 2022. Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 4.07% of trade turnover (QR10.12bn), which declined 2.03% year-on-year. The brokerage’s share was 6.66% the previous year period. The deals through it were up 0.48% on a yearly basis to 190,172 but volumes shrank 38.66% to 3.3mn stocks at the end of August 2022. Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover expand 84.73% on an annualised basis to QR5.08bn, cornering a market share of 2.04% during January-August 2022 compared to 1.77% a year ago period. The volumes handled by the banking subsidiary shot up 40.28% to 1.01mn equities even as deals through it doubled to 100,211 during the review period.

The Qatar Stock Exchange saw its key index tank 234 points and capitalisation erode QR14bn, reflecting the pessimism in the global market as oil once touched a seven-month low this week. The telecom, transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index plunged 1.78% this week, which saw the Qatar Financial Market Authority issue rules relating to covered short selling as well securities lending and borrowing. The domestic institutions were seen net profit takers this week, which saw Mannai Corporation shareholders approve an interim dividend, following the successful sales of Inetum. More than 74% of the traded constituents were in the red this week, which saw a Qatar Financial Centre’s purchasing managers’ index survey that found the tempering of growth in the country’s non-energy private sector in August this year. The local retail investors were seen bearish this week, which saw Ooredoo disclose its intention to offload its entire stake in its Myanmar telecom business to Nine Communications for an enterprise value of about $576mn and total equity consideration of $162mn. The foreign individuals’ weakened net buying also had its influence in the market this week, which saw Al Meera Consumer Goods sign agreement with SAP and Tata Consultancy. However, the foreign institutions were seen bullish this week, which saw a total of 0.11mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.3mn trade across 27 deals. The Arab retail investors were increasingly net buyers this week, which saw as many as 0.18mn Doha Bank-sponsored QETF valued at QR2.3mn change hands across 99 transactions. The overall trading turnover and volumes were on the decline in the main market this week, which saw the industrials and banking sectors together constitute more than 58% of the total trade volume. Market capitalisation eroded QR13.79bn or 1.87% to QR719.45bn, mainly on large and small cap segments this week, which saw no trading of sovereign bonds. In the case of venture market, both trade and turnover were on the increase this week, which saw no trading of treasury bills in the main market. The Total Return Index tanked 1.78%, the All Share Index by 1.8% and the All Islamic Index by 1.24%. The telecom sector index plummeted 3.44%, real estate (3.12%), banks and financial services (2.53%), industry (1.39%), insurance (0.5%) and consumer goods and services (0.5%); while transport soared 2.01% this week. Major losers in the main market included Mannai Corporation, Qamco, Doha Insurance, Gulf International Services, Mesaieed Petrochemical Holding, QNB, Commercial Bank, Qatar Islamic Bank, Doha Bank, QIIB, Masraf Al Rayan, Salam International Investment, Baladna, Aamal Company, Estithmar Holding, Barwa, Mazaya Qatar, Ooredoo, Vodafone Qatar, Nakilat and Gulf Warehousing. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. Nevertheless, Milaha, Ezdan, Woqod, Al Meera and Qatar National Cement were among the gainers in the main market this week. The domestic institutions turned net sellers to the tune of QR88.06mn compared with net buyers of QR6.57mn the week ended September 1. The local retail investors were net sellers to the extent of QR58.05mn against net buyers of QR26.35mn the previous week. The foreign individuals’ net buying weakened markedly to QR4.78mn compared to QR8.16mn a week ago. However, the foreign funds were net buyers to the tune of QR120.91mn against net sellers of QR32.37mn the week ended September 1. The Arab individuals’ net buying increased perceptibly to QR17.27mn compared to QR16.63mn the previous week. The Gulf individuals were net buyer to the tune of QR24.65mn. The Arab institutions’ net profit booking eased marginally to QR0.37mn against QR0.7mn the week ended September 1. Total trade volume in the main market shrank 21% to 6790422mn shares, value by 31% to QR2.53bn and deals by 3% to 92,447. In the venture market, there was a 28% jump in trade volumes to 1.13mn stocks, 12% in value to QR6.96mn and 17% in transactions to 405.

The Qatar Stock Exchange on Thursday witnessed strong buying in the telecom, transport and real estate counters, even as it overall settled marginally lower. The foreign funds were seen bearish as the 20-stock Qatar Index settled mere six points or 0.05% lower at 12,948.92 points, but recovering from an intraday low of 12,938 points. The Gulf individuals were also seen net profit takers in the market, whose year-to-date gains were at 11.38%. The foreign individuals’ net buying weakened in the bourse, whose capitalisation declined QR2.89bn or 0.4% to QR719.45bn mainly on the back of midcap segments. The Islamic index was seen gaining vis-à-vis declines in the other indices in the market, which saw a total of 0.09mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.13mn change hands across 36 deals. Trade turnover and volumes were on the decline in the main market, while the venture market saw higher turnover and volumes. The local retail investors were seen bullish in the bourse, which saw no trading of sovereign bonds. The Gulf institutions were also seen net buyers in the market, which saw no trading of treasury bills. The Total Return Index was down 0.05% to 26,523.59 points and the All Share Index by 0.27% to 4,102.93 points, while the Al Rayan Islamic Index (Price) gained 0.34% to 2,863.96 points. The banks and financial services sector index lost 0.65%, consumer goods and services (0.34%), insurance (0.27%) and industrials (0.15%); while telecom gained 1.94%, transport (1.01%) and realty (0.43%). Major losers in the main market included Mannai Corporation, Qatar General Insurance and Reinsurance, Medicare Group, QNB, Qatar Islamic Insurance, QIIB and Industries Qatar. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, about 57% of the traded constituents in the main market extended gains with major movers being Ooredoo, Baladna, Al Meera, Qatar National Cement, Commercial Bank, Qatar First Bank, Aamal Company, Gulf International Services, Estithmar Holding, Qamco, Qatar Insurance, Barwa, Vodafone Qatar, Nakilat and Milaha. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value. The foreign institutions turned net sellers to the tune of QR10.48mn compared with net buyers of QR18.8mn on September 7. The Gulf retail investors were net sellers to the extent of QR0.63mn against net buyers of QR2.64mn the previous day. The foreign individuals’ net buying declined perceptibly to QR0.85mn compared to QR1.97mn on Wednesday. However, Qatari individuals turned net buyers to the tune of QR8.01mn against net sellers of QR1.05mn on September 7. The Gulf institutions were net buyers to the extent of QR3.88mn compared with net sellers of QR14.24mn the previous day. The Arab individuals’ net profit booking weakened markedly to QR1.1mn against QR2.04mn on Wednesday. The domestic institutions’ net selling eased noticeably to QR0.52mn compared to QR6.09mn on September 7. The Arab institutions continued to have no major net exposure for the fourth straight session. Total trade volume in the main market fell 28% to 114.83mn shares, value by 17% to QR469.09mn and deals by 22% to 17,978. In the venture market, there was a 47% expansion in trade volumes to 0.22mn equities and 52% in value to QR1.64mn on almost doubled transactions to 105.    

* Buying interests lift sentiments in QSE; M-cap gains QR1bn   Strong buying interests in the industrials and transport counters Tuesday helped the Qatar Stock Exchange gain 16 points. The Arab individuals were increasingly into net buying as the 20-stock Qatar Index settled 0.13% to 13,055.01 points, recovering from an intraday low of 12,943 points. The domestic funds’ weakened net selling also had its influence in the market, whose year-to-date gains were at 12.29%. The Gulf individuals were seen bullish, albeit at lower levels, in the bourse, whose capitalisation grew more than QR1bn or 0.22% to QR728.6bn mainly on the back of microcap segments. The Islamic index was seen declining vis-a-vis gains in the other indices in the market, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.33mn changed hands across 19 deals. Trade turnover grew amidst lower volumes in the main market, while the venture market saw easing turnover amidst higher volumes. The Gulf institutions were seen net buyers in the bourse, which saw no trading of sovereign bonds. However, local retail investors turned net profit takers in the market, which saw no trading of treasury bills. The Total Return Index rose 0.13% to 26,740.9 points and All Share Index by 0.2% to 4,141.2 points, while Al Rayan Islamic Index (Price) was down 0.03% to 2,889.1 points. The industrials sector index gained 0.78%, transport (0.34%) and banks and financial services (0.15%); while telecom declined 1.13%, insurance (0.38%), real estate (0.37%) and consumer goods and services (0.11%). Major gainers in the main market included Qatari German Medical Devices, Qatari Investors Group, Industries Qatar, Gulf Warehousing, Milaha, QNB, Aamal Company and Ezdan. Nevertheless, more than 59% of the traded constituents in the main market were in the red with major losers being Mannai Corporation, Qatar Islamic Insurance, Widam Food, Ooredoo, Barwa, QIIB, Mesaieed Petrochemical Holding, Gulf International Services, Qamco and Vodafone Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. The Arab individuals’ net buying increased markedly to QR9.5mn compared to QR4.52mn on September 5. The Gulf institutions turned net buyers to the tune of QR1.2mn against net sellers of QR2.81mn the previous day. The Gulf retail investors were net buyers to the extent of QR0.35mn compared with net sellers of QR1.73mn on Monday. The domestic institutions’ net selling decreased substantially to QR10.22mn against QR49.99mn on September 5. However, Qatari individuals turned net sellers to the tune of QR14.18mn compared with net buyers of QR25.54mn the previous day. The foreign individuals were net sellers to the extent of QR1.13mn against net buyers of QR3.94mn on Monday. The foreign institutions’ net buying weakened perceptibly to QR14.48mn compared to QR20.52mn on September 5. The Arab institutions continued to have no major net exposure for the second straight session. Total trade volume in the main market fell 10% to 124.71mn shares, while value jumped 3% to QR527.26mn amidst 10% fall in deals to 18,904. In the venture market, there was 31% expansion in trade volumes to 0.34mn equities but 48% shrinkage in value to QR1.06mn and 65% in transactions to 66.

Doha's non-energy private sector tempered in August 2022 but with the FIFA World Cup nearing, firms became more confident of output growth over the next 12 months, according to the Qatar Financial Centre (QFC). The rates of expansion in total activity, new work and purchasing activity all eased from those seen in July but were still strong by historical standards, said the QFC’s latest purchasing managers’ index (PMI) survey data. "Firms protected their profit margins by cutting their headcounts in light of spare capacity. Furthermore, overall input prices rose only marginally during the month and purchase costs fell. With demand strong, firms were able to raise their selling prices solidly," said QFC Authority chief executive officer Yousuf Mohamed al-Jaida. 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. At 53.7 in August, down from 61.5 in July, the latest PMI signalled softer, yet solid business conditions in Qatar's non-energy sector. Output rose at a more moderate pace in August, though the rate of growth was still marked and much quicker than the long-run series average, QFC said, adding at the sub-sector level, the strongest performing area was the manufacturing sector, followed by wholesale and retail, services and construction. Similarly, new orders rose midway through the third quarter, and for the 26th month in a row. The expansion eased to a 15-month low, but was still sharp. Firms continued to indicate strong demand for Qatari non-energy goods and services. Despite marked increases in both output and new orders, Qatari non-energy firms chose to cut their headcounts in August. Signs of spare capacity emerged, with backlogs falling for the first time in 23 months. Firms indicated that headcounts were sufficient in meeting new order inflows. Sustained new order growth led firms to raise their buying activity. Purchases have now risen in each of the last 26 months. In contrast, firms cut their stocks of purchases, albeit only marginally. The overall input price inflation rose marginally, after falling in the previous survey period. An increase in staff costs was behind the overall rise, while purchase prices decreased for the first time in seven months. "Firms decided to capitalise on strong demand conditions by hiking their selling prices for the fourth month in a row. The overall rate of charge inflation was sharp and the quickest for eight months," it said. The latest PMI data on Qatar's financial services sector signalled further marked growth in August. Business activity increased at a slower pace to that seen in the previous eight months but was still much stronger than the long-run series average. New business growth followed a similar trend, easing to an eight-month low but remaining marked overall. At the same time, employment stagnated after 11 consecutive months of expansion. Nevertheless, firms were hopeful of output growth over the next 12 months, it said, finding that sentiment reached a 26-month high.

The Qatar Stock Exchange on Sunday opened the week weak, mainly dragged by profit booking pressure from the local retail investors and domestic funds. The banking sector witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.34% lower at 13,138.38 points, although it touched an intraday high of 13,203 points. The foreign individuals were seen bearish, albeit at lower levels, in the market, whose year-to-date gains were truncated to 13.01%. More than 68% of the traded constituents were in the red in the bourse, whose capitalisation fell QR0.41bn or 0.06% to QR732.77bn mainly on microcap segments. The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.44mn changed hands across 32 deals. Trade turnover declined amidst higher volumes in the main market, while the venture market saw rising turnover amid flat volumes. The Gulf institutions were increasingly into net buying in the bourse, which saw no trading of sovereign bonds. The foreign institutions turned bullish in the market, which saw no trading of treasury bills. The Total Return Index shrank 0.34% to 26,911.66 points, All Share Index by 0.26% to 4,167.22 points and Al Rayan Islamic Index (Price) by 0.23% to 2,893.16 points. The banks and financial services sector declined 0.41%, realty (0.23%), industrials (0.21%), telecom (0.11%) and consumer goods and services (0.08%); while transport and insurance gained 0.27% and 0.09% respectively. Major losers in the main market included Mesaieed Petrochemical Holding, Baladna, Qamco, Gulf International Services, Doha Insurance, Commercial Bank, Doha Bank, Masraf Al Rayan, United Development Company and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. Nevertheless, Qatar General Insurance and Reinsurance, Mannai Corporation, Qatari German Medical Devices, Ezdan, Milaha, Qatar First Bank and Industries Qatar were among the gainers in the main market. In the junior bourse, Mekdam Holding saw its shares appreciate in value. Qatari individuals’ net selling increased significantly to QR76.37mn compared to QR15.84mn on September 1. The domestic funds turned net sellers to the tune of QR21.24mn against net buyers of QR47.84mn last Thursday. The foreign individuals were net sellers to the extent of QR0.84mn compared with net buyers of QR2.46mn the previous trading day. The Arab institutions turned net profit takers to the tune of QR0.37mn against no major net exposure on September 1. However, the foreign institutions turned net buyers to the extent of QR77.58mn compared with net sellers of QR46.02mn last Thursday. The Gulf institutions’ net buying increased considerably to QR11.96mn against QR4.26mn the previous trading day. The Arab individuals’ net buying strengthened noticeably to QR6.38mn compared to QR5.13mn on September 1. The Gulf retail investors’ net buying grew marginally to QR2.9mn against QR2.17mn last Thursday. Total trade volume in the main market rose 4% to 141.74mn shares, while value shrank 25% to QR450.18mn and deals by 43% to 11,524. In the venture market, the trade volumes were seen flat at 0.15mn equities but on 2% jump in value to QR1.14mn despite 49% lower transactions at 33.    

Qatar's automobile sector saw brisk sales in private vehicles and motorcycles, which led to a robust 7.5% year-on-year growth in the new registered vehicles this July, according to the Planning and Statistics Authority (PSA). The new vehicle registrations stood at 5,849; which however represented a 27% decrease month-on-month, said the figures released by the PSA. The registration of new private vehicles stood at 3,723, which posted an 11.6% growth on an annualised basis but declined 24.9% on monthly basis in July 2022. Such vehicles constituted about 64% of the total new vehicles registered in the country in the review period. The registration of new private transport vehicles stood at 1,338; which nevertheless shrank 8.1% and 10.4% year-on-year and month-on-month respectively in July 2022. Such vehicles constituted about 23% of the total new vehicles in the review period. According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari were seen declining 24.35% and 4.76% year-on-year respectively to QR0.87bn and QR0.2bn in July 2022. Personal loans to Qataris reported an 87.82% surge year-on-year to QR91.17bn and those for non-Qataris by 17.41% to QR9.51bn in the review period. The overall consumption credit to nationals grew 8.83% on an annualised basis to QR153.7bn and that to non-Qataris by 11.32% to QR12.78bn in July 2022. The registration of new private motorcycles almost doubled on a yearly basis to 580 units but it plunged 48.4% month-on-month in July 2022. These constituted about 10% of the total new vehicles in the review period. The registration of new heavy equipment stood at 149, which constituted about 3% of the total registration this July. Their registrations had seen 50.3% and 28.4% shrinkage on an annualised and monthly basis respectively. The new registration of other non-specified vehicles stood at 36 units, which grew about 29% on a yearly basis but witnessed an 80.5% contraction month-on-month in the review period. The registration of trailers stood at 23 units, which saw a 4.5% growth year-on-year; while it halved on a monthly basis in the review period. The renewal of registration was reported in 55,671 units, which saw 0.6% and 22.1% decline year-on-year and month-on-month respectively this July. The transfer of ownership was reported in 26,028 vehicles in July 2022, which zoomed 12.1% on an annualised basis but tanked 23.1% month-on-month. The re-registration of vehicles stood at 61, which reported 15.3% and 60.6% decline on yearly and monthly basis respectively this July. The modified vehicles’ registration stood at 6,021, which saw a 68% growth year-on-year but fell 26% on a monthly basis in July 2022. The cancelled vehicles stood at 1,461 units, which shrank 19.1% and 45.8% year-on-year and month-on-month respectively in the review period. The number of lost/damaged vehicles stood at 7,350 units declined 30.4% and 16.9% year-on-year and month-on-month respectively in July 2022. The number of vehicles meant for exports stood at 1,325 units, shrank 15.8% and 37.1% on yearly and monthly basis respectively this July. The clearing of vehicle-related processes stood at 103,893 units expanded 1.6% on an annualised basis but shrank 23.3% month-on-month in the review period.