Author

Friday, June 09, 2023 | Daily Newspaper published by GPPC Doha, Qatar.
 Santhosh V. Perumal
Santhosh V. Perumal
Santhosh V. Perumal, a postgraduate in Econometrics with an advance qualification in Capital Markets and Financial Services, is Gulf Times' journalist. His coverage areas are debt and equity, hydrocarbons, international trade, environment, banks, insurance and real estate. Previously, he was in New Delhi, India as Senior Finance Correspondent of PTI.
Gulf Times
Business
QSE inches towards 13,500 points; M-cap expands QR8bn

Ahead of oil group’s meet to discuss supply adjustments, the Qatar Stock Exchange on Monday steered towards 13,500 levels, mainly on the back of strong buying in realty, telecom and banking sectors. The foreign institutions’ increased net buying helped the 20-stock Qatar Index gain more than 99 points or 0.74% to 13,469.11 points, although it touched an intraday high of 13,546 points. As much as 60% of the traded constituents extended gains in the market, whose year-to-date gains were at 15.86%. The weakened net selling pressure of the local retail investors also had its influence in the bourse, whose capitalisation grew more than QR8bn or 1.1% to QR743.01bn, mainly on the back of midcap segments. The Islamic index was seen underperforming the main index in the market, where the industrials sector alone constituted more than 50% of the total trading volume. The Gulf funds continued to be net buyers but with lesser intensity in the bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn changed hands across eight deals. The foreign individuals’ weakened net selling had is say in the market, which saw no trading of sovereign bonds. The domestic funds were nevertheless increasingly into net profit booking in the bourse, which saw no trading of treasury bills. The Total Return Index rose 0.74% to 27,589.1 points, All Share Index by 0.7% to 4,259.48 points and Al Rayan Islamic Index (Price) by 0.68% to 2,947.81 points. The real estate sector index shot up 1.96%, telecom (1.39%), banks and financial services (1%) and industrials (0.55%); while transport declined 0.83%, insurance (0.71%) and consumer goods and services (0.13%). Major gainers in the main market included Ezdan, Estithmar Holding, Mazaya Qatar, Qamco, Salam International Investment, QNB, Qatari German Medical Devices, Qatar Electricity and Water, Aamal Company, Gulf International Services and Ooredoo. Nevertheless, Zad Holding, Gulf Warehousing, Al Meera Consumer Goods, Milaha and Ahlibank Qatar were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. The foreign institutions’ net buying increased substantially to QR86.33mn compared to QR16.79mn on July 31. The Arab funds turned net buyers to the extent of QR0.1mn against net profit takers of QR0.02mn on Sunday. Local retail investors’ net selling declined considerably to QR37.82mn compared to QR82mn the previous day. The foreign individuals’ net profit booking weakened significantly to QR0.79mn against QR11.24mn on July 31. The Gulf retail investors’ net selling eased perceptibly to QR0.42mn compared to QR3.25mn on Sunday. However, the domestic funds were net profit takers to the tune of QR42.98mn against net buyers of QR50.66mn the previous day. The Arab individuals turned net sellers to the extent of QR8.9mn compared with net buyers of QR9.02mn on July 31. The Gulf institutions’ net buying weakened drastically to QR4.49mn against QR20.03mn on Sunday. Total trade volume in the main market more than doubled to 390.12mn shares and value almost doubled to QR999.86mn on 73% increase in transactions to 24,521. The real estate sector’s trade volume more than quadrupled to 97.12mn equities and value more than tripled to QR110.78mn on more than doubled deals to 2,094. The consumer goods and services sector’s trade volume almost doubled to 38.76mn stocks, value soared 71% to QR64.19mn and transactions by 59% to 1,911. The industrials sector’s trade volume almost doubled to 195.79mn shares, value shot up 84% to QR449.54mn and deals by 64% to 8,807. The transport sector reported 78% surge in trade volume to 4.09mn equities, 74% in value to QR20.68mn and transactions by 98% to 1,106. The banks and financial services sector’s trade volume zoomed 51% to 47.09mn stocks, value by 98% to QR327.98mn and deals by 72% to 9,140. The insurance sector saw 19% expansion in trade volume to 3.81mn shares, 18% in value to QR9.24mn and 17% in transactions to 381. However, the telecom sector’s trade volume was down 5% to 3.45mn equities, whereas value more than doubled to 17.45mn and deals more than tripled to 1,082. In the venture market, trade volumes stood at 0.58mn stocks, value at QR3.61mn and transactions at 223.

Gulf Times
Business
Strong oil prices, corporate earnings lift sentiments in QSE; index vaults 248 points

Strong oil prices and corporate earnings Sunday led Qatar Stock Exchange vault 248 points and its key index inched towards 13,400 levels. The domestic institutions’ strong buying interests lifted the 20-stock Qatar Index 1.89% to 13,370.03 points, recovering from an intraday low of 13,278 points. The industrials and banking counters witnessed higher than average demand in the market, whose year-to-date gains were at 15%. More than 82% of the traded constituents extended gains in the bourse, whose capitalisation stood at QR734.94bn with large and midcap segments making faster gains. The Islamic index was seen underperforming other indices in the market, where the industrials sector alone constituted about 55% of the total trading volume. The Gulf funds’ buying interests also had its influence in the bourse, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.43mn changed hands across 19 deals. The foreign institutions were seen net buyers in the market, which saw no trading of sovereign bonds. The Total Return Index rose 1.89% to 27,386.17 points, All Share Index by 1.76% to 4,229.79 points and Al Rayan Islamic Index (Price) by 1.68% to 2,928.03 points. The industrials sector index shot up 2.36%, banks and financial services (2.01%), realty (1.07%), transport (0.84%), consumer goods and services (0.75%) and telecom (0.28%); while insurance declined 0.33%. Major gainers in the main market included Masraf Al Rayan, Estithmar Holding, Qatar Electricity and Water, Mesaieed Petrochemical Holding and Industries Qatar. In the venture market, Mekdam Holding saw their shares appreciate in value. Nevertheless, Qatar General Insurance and Reinsurance, Mannai Corporation, Milaha, QLM and Commercial Bank were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares lose sheen. The domestic institutions were net buyers to the tune of QR50.66mn, while local retail investors were net sellers to the extent of QR82mn. The Gulf funds were net buyers to the tune of QR20.03mn; while the Gulf individuals were net profit takers to the tune of QR3.25mn. The foreign institutions were net buyers to the tune of QR16.79mn; whereas the foreign retail investors were net sellers to the extent of QR11.24mn. In the case of Arab funds, they were net sellers to the tune of QR0.02mn; while the Arab individuals were net buyers to the extent of QR9.02mn. Total trade volume in the main market stood at 181.1mn shares, value at QR506.54mn and transactions at 14,151. The banking and financial services sector saw as many as 31.13mn equities valued at QR165.43mn trade across 5,319 deals. A total of 19.58mn consumer goods and services stocks worth QR37.57mn changed hands across 1,201 transactions. The industrials sector saw as many as 99.51mn shares valued at QR244.17mn trade across 5,380 deals. In the case of insurance, the sector saw a total of 3.19mn equities worth QR7.85mn change hands across 326 transactions. The real estate sector saw a total of 22.45mn stocks valued at QR31.4mn trade across 1,038 deals and the telecom sector reported 3.64mn shares worth QR8.25mn change hands across 327 transactions. The transport saw as many as 2.3mn equities valued at QR11.88mn trade across 560 deals. In the venture market, trade volumes stood at 0.64mn stocks, value at QR4.38mn and deals at 184.

Gulf Times
Business
Global recession fears weigh on QSE sentiments; index falls

The global recession fears had its overarching influence on the Qatar Stock Exchange, which saw its index tank 107 points and capitalisation erode QR11bn this week. The consumer goods, industrials, insurance and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.87% this week which saw a rebound in non-oil sectors help Qatar report 2.5% real economic growth on an annualised basis during the first quarter of 2022. About 74% of the traded constituents were in the red this week which saw Qatar's purchasing managers' index signalled a second successive record improvement in operating conditions in the non-energy sector to conclude the second quarter of 2022. Local retail investors were seen net profit takers this week which saw Qatar's cost of living, based on consumer price under (CPI) inflation, soar 5.45% on an annualised basis in June, even as it was broadly stable month-on-month. The Arab individuals were also seen bearish this week which saw Qatar's automobile sector saw a double-digit growth in new registrations on an annualised basis this May, paced by robust sales of new private vehicles and motorcycles. The foreign institutions’ weakened net buying had its influence in the market this week which saw Qatar Electricity and Water Company has signed a pact to sell its plot of land in Lusail City to Regency Land Real Estate Company for QR175mn. The domestic funds continued to be net profit takers but with lesser intensity this week which saw a total of 0.29mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.75mn trade across 49 deals. The Arab institutions continued to be net buyers but with lesser vigour this week which saw as many as 0.08mn Doha Bank-sponsored QETF valued at QR0.97mn change hands across 42 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 about 63% of the total trade volume. Market capitalisation eroded more than QR11bn or 1.67% to QR672.06bn, mainly on large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills. The Total Return Index shed 0.87% and All Share Index by 1.36%, whereas All Islamic Index was up 0.02% this week. The consumer goods and services sector index plummeted 3.7%, industrials (2.2%), insurance (1.31%) and banks and financial services (1.29%); while transport gained 1.61%, telecom (0.81%) and real estate (0.3%) this week. Major shakers in the main market included Qatari German Medical Devices, Estithmar Holding, Salam International Investment, Baladna and Mannai Corporation. In the venture market, Mekdam Holding saw depreciation in value. Nevertheless, Qatar Islamic Bank, Mesaieed Petrochemical Holding, QIIB, Barwa and Milaha saw their shares increase in value. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value. In the main market, the industrials sector accounted for 44% of the total trade volume, banks and financial services (19%), consumer goods and services (15%), real estate (14%), transport (4%), telecom (3%) and insurance (1%) this week. In terms of value, the banks and financial sector’s share was 43%, industrials (32%), consumer goods and services (8%), transport (7%), realty (6%), telecom (3%) and insurance (1%) this week. Qatari individuals turned net sellers to the tune of QR46.55mn compared with net buyers of QR49.53mn the week ended June 30. The Arab individuals were net sellers to the extent of QR12.98mn against net buyers of QR2.49mn a week ago. The foreign funds’ net buying declined substantially to QR107.4mn compared to QR237.61mn the previous week. The Arab institutions’ net buying shrank perceptibly to QR1.81mn against QR3mn the week ended June 30. The foreign individuals’ net buying eased marginally to QR2.01mn compared to QR2.14mn a week ago. However, the Gulf individuals were net buyers to the tune of QR0.79mn against net sellers of QR13.25mn the previous week. The domestic funds’ net selling declined drastically to QR46.41mn compared to QR274.85mn the week ended June 30. The Gulf institutions’ net profit booking shrank marginally to QR6.08mn against QR6.67mn a week ago. Total trade volume in the main market fell 41% to 517.91n shares, value by 37% to QR1.71bn and transactions by 20% to 61,065. The venture market saw 52.94% contraction in trade volumes to 0.96mn stocks, 61.72% in value to QR4.77mn and 50.13% in deals to 371.

Qatar's hotels saw marginal improvement in rooms' yield on an annualised basis in May this year amidst flat occupancy, according to the data released by the Planning and Statistics Authority
Business
Qatar's hospitality sector sees improvement in rooms' yield in May; one two star hotels see fastest expansion

Qatar's hotels saw marginal improvement in rooms' yield on an annualised basis in May this year amidst flat occupancy, according to the official data. Qatar's two- and one-star, three-star and five-star hotels saw higher than average expansion in the rooms' yield on an annualised basis in the review period, said the data released by the Planning and Statistics Authority (PSA). However, the country's hospitality sector witnessed an overall weakness in the room yield in the deluxe hotel apartment segment this May, mainly pulled down by lower occupancy, although there was an 869% year-on-year surge in visitor arrivals to Qatar in the review period. In May 2022, Qatar has seen a total 166,090 visitor arrivals with majority coming in from the Gulf Co-operation Council (GCC) countries. The visitor arrivals from the GCC were 90,309 or 54% of the total, followed by other Asia (including Oceania) 29,824 or 18%, Europe 25,294 or 15%, other Arab countries 9,802 or 6%, Americas 8,684 or 5% and other African countries 2,177 or (1%). The properties that have been utilised as quarantine/Covid-19 response facilities have been removed from the full market data set from March 2020, PSA said. The country's overall hospitality sector saw 1.73% year-on-year increase in average revenue per available room to QR294 in May 2022 as the average room rate grew 2.22% to QR507 amidst flat occupancy at 58% in the review period. The two-star and one-star category hotels' average revenue per available room more than doubled year-on-year to QR152 in May this year. The average room rate in two-star and one-star hotels shot up 20.74% on yearly basis to QR163 and occupancy by 43% to 93%. The three-star hotels witnessed a 30.15% year-on-year surge in average revenue per available room to QR177 in May this year. The average room rate was seen rising 24.1% year-on-year to QR206 as occupancy was up 4% to 86%. In the case of five-star hotels, the average revenue per available room gained 17.49% on annualised basis to QR403 in May this year despite 15.62% shrinkage in the average room rate to QR686 even as the occupancy shot up 17% to 59%. The average revenue per available room in the four-star category rose 4.32% on an annualised basis to QR169 in May 2022. The average room rate in the four-star hotels was up 1.12% to QR270 and the occupancy gained 2% to 63% in the review period. In the case of standard hotel apartments, the room yield soared 20.16% year-on-year to QR155 in May 2022. The average room rate plummeted 11.89% year-on-year to QR200 even as the occupancy zoomed 21% to 78% in May 2022. The deluxe hotel apartments nevertheless saw a 30.85% year-on-year plunge in average revenue available per room to QR195 in May 2022. The average room rate in the deluxe hotel apartments was seen gaining 8.95% on an annualised basis to QR414. The occupancy plummeted 27% to 47%.

Gulf Times
Business
QSE rebounds with 24 points gain amid marginal fall in capitalisation

The Qatar Stock Exchange yesterday gained about 24 points, mainly on the back of buying interests from the Gulf funds and local retail investors. The industrials, real estate and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.2% higher at 12,084.65 points, recovering from an intraday low of 11,958 points. The Arab institutions were seen bullish, albeit at lower levels, in the market, whose year-to-date gains were at 3.95%. More than 67% of the traded constituents extended gains in the bourse, whose capitalisation nevertheless saw QR53bn or 0.08% decrease to QR672.06bn, mainly on the back of microcap segments. The Islamic index was seen gaining faster than the other indices in the market, where the industrials and banking sectors together constituted about 71% of the total trading volume. The domestic funds’ weakened net selling also had its influence in the bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.2mn changed hands across 19 deals. However, the foreign institutions turned net sellers in the market, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills. The Total Return Index was up 0.2% to 24,573.28 points, the All Share Index by 0.02% to 3,865.35 points and the Al Rayan Islamic Index (Price) by 0.34% to 2,634.87 points. The industrials sector index shot up 1.14%, realty (0.93%), consumer goods and services (0.52%) and telecom (0.09%); while banks and financial services declined 0.5%, insurance (0.3%) and transport (0.27%). Major gainers in the main market included Al Meera, Mesaieed Petrochemical Holding, Alijarah Holding, Commercial Bank, Qamco, Inma Holding, Salam International Investment, Industries Qatar, QLM, Qatari Investors Group, Barwa and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value. Nevertheless, Ahlibank Qatar, QIIB, Qatar Islamic Insurance, Milaha, QNB, Widam and Doha Insurance were among the losers in the main market. The Gulf institutions were net buyers to the tune of QR17.58mn compared with net sellers of QR4.73mn on July 6. The Qatari individuals’ net buying increased noticeably to QR15.58mn against QR9.71mn on Wednesday. The Arab institutions turned net buyers to the extent of QR0.89mn compared with net sellers of QR0.1mn the previous day. The domestic funds’ net selling declined considerably to QR15.62mn against QR34.6mn on July 6. The Arab individuals’ net profit booking also fell markedly to QR2.99mn compared to QR4.74mn on Wednesday. However, the foreign funds were net sellers to the tune of QR15.44mn against net buyers of QR31.98mn the previous day. The Gulf individuals turned net sellers to the extent of QR0.98mn compared with net buyers of QR0.6mn on July 6. The foreign individuals’ net buying shrank perceptibly to QR0.99mn against QR1.9mn on Wednesday. Total trade volume in the main market fell 12% to 104.52mn shares, value by 10% to QR376.92mn and transactions by 11% to 13,700. In the venture market, trade volumes plummeted 30% to 0.14mn stocks, value by 37.96% to QR0.67mn and deals by 36.84% to 60.

Gulf Times
Business
Global market keen on higher GCC exposure: IIF

Low indebtedness and substantial financial buffers, notably in Qatar, Kuwait and Saudi Arabia, have instilled confidence in international markets to enhance the exposure to the Gulf Co-operation Council (GCC), according to a Washington-based economic think-tank. "The international market is still keen on GCC exposure," the Institute of International Finance (IIF) said its latest report. Low debt-to-GDP (gross domestic product) ratios and "substantial" financial buffers in Kuwait, the UAE, Qatar, and Saudi Arabia give confidence to investors to gain exposure, it said. Furthermore, the GCC countries are offering relatively higher risk premia against other emerging economies to attract investors, it said. The monetary policy tightening in the six GCC countries will push yields even higher on foreign borrowing, according to the IIF. "We see a sharp increase in corporate (banks and nonbanks) issuance in the second half of this year due to a large refinancing need from loans and bonds that are expected to mature this year," it said. The report said the impact of tighter US monetary conditions on the GCC banks will also be limited in an environment of high oil prices. At current elevated oil price levels, the impact of tighter monetary policy in the GCC on non-oil real GDP growth will be "negligible", it said. The elevated oil prices this year will provide a boost to economic activity through additional public spending and an expansion of liquidity in banking systems. "We see non-oil real GDP growth remaining strong in the GCC, at 4.5% this year," IIF said. Sound macroeconomic policies and strong fundamentals, combined with elevated oil prices and reforms will more than offset the negative spillovers from higher borrowing costs, it said. "The GCC non-oil real GDP growth will remain strong, averaging 4.8% in 2022, the highest among emerging and developing economies," the report said. The financial system resilience to asset price volatility and a sudden decline in market liquidity can be strengthened through macro-prudential policy and risk monitoring, it said. In the past several decades, high global oil prices have more than offset the adverse growth impact of monetary tightening in the GCC. High oil prices improve the domestic liquidity situation, lead to relatively expansionary fiscal policies and increase available credit to the private sector. It also puts downward pressure on interbank rates, leading to lower lending rates. High real interest rates, in the absence of higher oil prices, lead to reduced credit to the private sector and thus lower non-oil real GDP growth. While higher US interest rates raise external borrowing costs, especially for the GCC banks and non-financial corporations involved in large-scale investment projects, the adverse impact are more than offset by higher oil prices and the envisaged significant growth in public spending. The banking system in some of the GCC countries, particularly in Saudi Arabia, is characterised by low wholesale funding and a high level of non-interest bearing deposits. "Consequently, further interest rates hikes in the GCC in line with increases in the US target range for the federal funds rate could have a favourable effect on banks’ profitability," IIF said. Finding that the GCC regional equity index has outperformed MSCI ACWI (All Country World Index) and EMs (emerging markets) indices since early 2021; it said oil prices over $100 a barrel combined with opening to foreign buyers have propelled the region’s stock markets to new highs. Specifically, stock markets in Saudi Arabia and the UAE rose by around 20% (despite the decline in the past two months), putting them among the best performers globally since March 2021. The initial public offerings (IPOs) in the GCC’s have raised $4.8bn in the first five months of 2022, outpacing IPOs in Europe.

The food and beverages group, with a weight of 13.45% in the CPI basket, witnessed a 4.33% growth year-on-year, even as it fell 0.17% on monthly basis this June.
Business
Qatar’s CPI inflation soars 5.4% year-on-year in June

Qatar's cost of living, based on consumer price (CPI) inflation, soared 5.45% on an annualised basis in June, even as it was broadly stable month-on-month, according to the official data. The increase in the country's general price level comes amidst an overall inflationary pressure in the global economy, which prompted the central banks to tighten their monetary policies, stoking fears of economic slowdown. Qatar's core inflation (excluding housing and utilities) rather followed a similar trend with it rising 5.45% year-on-year even as it was generally stable month-on-month in the review period. Both Finance Minister HE Ali bin Ahmed al-Kuwari and the Qatar Central Bank Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani recently affirmed at the Qatar Economic Forum, powered by Bloomberg, that the country has enough tools to contain inflation. The index of recreation and culture, which has an 11.13% weight in the CPI basket, zoomed 36.45% and 2.26% on an annualised and monthly basis respectively in June this year. The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 5.41% expansion on yearly basis but was unchanged month-on-month in June 2022. The food and beverages group, with a weight of 13.45% in the CPI basket, witnessed a 4.33% growth year-on-year, even as it fell 0.17% on monthly basis this June. The miscellaneous goods and services, with a 5.65% weight, saw its index jump 2.1% on an annualised basis but fell 1.39% month-on-month in the review period. The index of transport, which has a 14.59% weight, was seen rising 1.77% year-on-year but was unchanged on a monthly basis in June 2022. The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies. In June 2022, the retail price of super, premium gasoline and diesel witnessed a 13.51%, 5.41% and 17.14% surge year-on-year respectively. On a monthly basis, the price of super and diesel was flat; while that of premium declined 25%. In the case of furniture and household equipment, which has a 7.88% weight on the CPI basket, the index rose 1.37% year-on-year but was unchanged month-on-month in June this year. Communication, which carries a 5.23% weight, saw its group index jump 0.37% on a yearly basis. It was flat month-on-month respectively in the review period. Education, with a 5.78% weight, saw its index gain 0.22% on a yearly basis but was unchanged month-on-month in June 2022. However, the index of health, which has a 2.65% weight, was seen plummeting 3.14% on a yearly basis, although it was unchanged month-on-month in June 2022. The index of clothing and footwear, which has a 5.58% weight in the CPI basket, was seen declining 0.41% year-on-year but shot up 2.25% month-on-month this June. The restaurants and hotels group, with a 6.61% weight, saw its index shrink 0.4% and 0.26% year-on-year and month-on-month respectively this June. The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.

QFC Authority chief executive Yousuf Mohamed al-Jaida
Business
New orders, output signal 'record' improvement in Qatar non-oil economy: QFC

Driven by new orders and output components, Qatar's non-oil economy signalled a second successive record improvement on an annualised basis in June 2022, as staffing levels continue to expand solidly, according to the Qatar Financial Centre (QFC). The headline QFC PMI – which is a composite single-figure indicator of non-energy private sector performance and derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases – signalled a second successive record in overall business conditions in Qatar's non-oil sector, it said. The latest reading of the PMI was driven by new orders and output components, which together have a weight of 55% in the headline figure. Output growth quickened to a new series high while new business rose substantially, but at a slightly softer pace to that seen in May. “The latest survey data for Qatar have shown the non-energy economy going from strength to strength. The PMI set a record high for the second month in a row, backed by robust demand and output growth," said QFC Authority chief executive 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. Firms linked growth to healthy trading conditions and also cited that strong demand stemming from the upcoming FIFA World Cup. Subsequently, Qatari non-energy companies remained confident that output would continue to expand over the next 12 months. Sentiment was the strongest for four months with wholesale and retail firms particularly optimistic. Greater output and sustained new order growth supported another rise in headcounts in June, it said, adding the rate of growth was softer than that in May, but still solid overall and the fourth-strongest in the survey history. Backlogs meanwhile rose substantially, suggesting capacity pressures continued, according to the survey. Purchasing activity rose in June, with buying activity now observed over the last two years. The volume of inputs rose at the second-fastest rate on record, surpassed only by that seen in May. Stocked inputs meanwhile rose moderately and at a quicker pace than in May. "Firms added to their workforces amid plans to further expand their businesses and capitalise on favourable trading conditions. Stockpiling efforts also suggest businesses are gearing up for a strong second half of the year," al-Jaida said. The June data covering Qatar's financial services sector signalled another substantial increase in business activity. The rate of growth eased slightly from May’s record high but was the second-fastest since the series began in 2017. New business inflows at financial services firms rose further in June. Growth was the second-strongest in the series, with only May recording a faster expansion over the survey history. Expectations for activity over the next 12 months remained positive, leading workforces to be expanded for the tenth month in a row.  

Gulf Times
Business
Global recession fears drag QSE 202 points; M-cap erodes QR11bn

Global recession fears had its ripple effect on the Qatar Stock Exchange, which Wednesday fell 202 points. A higher than average selling pressure in the consumer goods and industrials sectors led the 20-stock Qatar Index to fall 1.65% to 12,060.82 points, but recovering from an intraday low of 12,003 points. The domestic institutions turned bearish in the market, whose year-to-date gains were at 3.74%. The Gulf funds were also seen net profit takers in the bourse, whose capitalisation saw about QR11bn, or 1.56%, decrease to QR672.59bn, mainly on the back of large and midcap segments. The Islamic index was seen declining slower than the other indices in the market, where the industrials and banking sectors together constituted more than 64% of the total trading volume. The Arab individuals’ net selling grew marginally in the bourse, which saw a total of 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.96mn changed hands across 38 deals. However, the local retail investors turned bullish in the market, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the higher side in the bourse, which saw no trading of treasury bills. The Total Return Index shrank 1.65% to 24,704.48 points, the All Share Index by 1.47% to 3,864.59 points and the Al Rayan Islamic Index (Price) by 1.4% to 2,625.93 points. The consumer goods and services sector index tanked 2.79%, industrials (2.67%), banks and financial services (1.05%), transport (0.94%), realty (0.9%) and telecom (0.83%); while insurance was up 0.15%. More than 86% of the traded constituents were in the red in the main market with major losers being Gulf International Services, Mannai Corporation, Qatari German Medical Devices. Industries Qatar, Salam International Investment, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Woqod, Baladna, Qamco, Estithmar Holding, Ezdan, Mazaya Qatar and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding fell. Nevertheless, Qatar Electricity and Water, Qatar Industrial Manufacturing, Qatar Insurance and QIIB were among the gainers in the main market. The domestic funds turned net sellers to the tune of QR34.6mn compared with net buyers of QR5.74mn on July 5. The Arab individuals’ net profit booking grew marginally to QR4.74mn against QR6.94mn the previous day. The Gulf institutions were net sellers to the extent of QR4.73mn compared with net buyers of QR5.62mn on Tuesday. The Arab institutions turned net sellers to the tune of QR0.1mn against net buyers of QR1.34mn on July 5. However, the foreign funds’ net buying grew markedly to QR31.98mn compared to QR25.2mn the previous day. The Qatari individuals were net buyers to the extent of QR9.71mn against net buyers of QR29.65mn on Tuesday. The foreign individuals turned net buyers to the tune of QR1.9mn compared with net sellers of QR1.5mn on July 5. The Gulf individuals’ net buying expanded marginally to QR0.6mn against QR0.2mn the previous day. Total trade volume in the main market rose 18% to 118.7mn shares, value by 20% to QR420.99mn and transactions by 31% to 15,357. In the venture market, trade volumes plummeted 45.95% to 0.2mn stocks, value by 37.93% to QR1.08mn and deals by 13.64% to 95.

Gulf Times
Business
Qatar bourse edges up on transport, telecom equities

The Qatar Stock Exchange Tuesday gained 46 points, mainly lifted by the transport and telecom equities. The domestic funds were seen net buyers as the 20-stock Qatar Index rose 0.37% to 12,263.01 points, recovering from an intraday low of 12,147 points. The Gulf institutions turned bullish in the market, whose year-to-date gains were at 5.48%. The Arab funds were seen net buyers in the bourse, whose capitalisation saw more than QR1bn or 0.23% decrease to QR683.23bn, mainly on the back of midcap segments. The Islamic index was seen gaining faster than the other indices in the market, where the industrials and banking sectors together constituted about 69% of the total trading volume. The foreign institutions continued to bet net buyers but with lesser intensity in the bourse, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.15mn changed hands across 11 deals. The local retail investors were increasingly into net profit booking in the market, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the higher side in the bourse, which saw no trading of treasury bills. The Total Return Index gained 0.37% to 25,118.63 points, the All Share Index by 0.04% to 3,922.06 points and the Al Rayan Islamic Index (Price) by 0.59% to 2,663.26 points. The transport sector index shot up 1.79%, telecom (1.03%) and banks and financial services (0.21%); whereas consumer goods and services declined 0.79%, realty (0.63%), industrials (0.57%) and insurance (0.27%). Major gainers in the main market included QIIB, Qatar Islamic Bank, Milaha, Doha Insurance, Ooredoo, Barwa and Nakilat. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, about 73% of the traded constituents were in the red with major shakers being Estithmar Holding, Qamco, Qatari German Medical Devices, Al Khaleej Takaful, Salam International Investment, QNB, Commercial Bank, Doha Bank, Inma Holding, Mannai Corporation, Baladna, Qatar Electricity and Water and QLM. In the junior bourse, Al Faleh Educational Holding saw its shares depreciate in value. The domestic funds turned net buyers to the tune of QR5.74mn compared with net sellers of QR9.24mn on July 4. The Gulf institutions were net buyers to the extent of QR5.62mn against net sellers of QR24.16mn the previous day. The Arab institutions turned net buyers to the tune of QR1.34mn compared with net sellers of QR0.31mn on Monday. However, the Qatari individuals’ net buying increased noticeably to QR29.65mn against QR19.4mn on July 4. The Arab individuals’ net selling zoomed markedly to QR6.94mn compared to QR2.2mn the previous day. The foreign individuals were net sellers to the extent of QR1.5mn against net buyers of QR1.32mn on Monday. The foreign funds’ net buying declined significantly to QR25.2mn compared to QR53.09mn on July 4. The Gulf individuals’ net buying weakened marginally to QR0.2mn against QR0.9mn the previous day. Total trade volume in the main market rose 9% to 100.99mn shares and value by 9% to QR350.53mn, while transactions shrank 12% to 11,751. The telecom sector’s trade volume more than doubled to 3.32mn equities, whereas value declined 23% to QR7.37mn and deals by 18% to 362. The industrials sector reported a 39% surge in trade volume to 47.95mn stocks, 17% in value to QR111.59mn and 22% in transactions to 3,266. The consumer goods and services sector’s trade volume soared 31% to 11.49mn shares and value by 13% to QR21.35mn, while deals were down 1% to 859. The market witnessed a 26% expansion in the transport sector’s trade volume to 4.78mn equities, 21% in value to QR30.92mn and 32% in transactions to 1,544. The banks and financial services sector’s trade volume was up 1% to 21.28mn stocks and value by 11% to QR159.37mn, whereas deals shrank 31% to 4,899. However, there was a 37% plunge in the real estate sector’s trade volume to 11.32mn shares, 31% in value to QR17.49mn and 32% in transactions to 362. The insurance sector’s trade volume declined 10% to 0.85mn equities, while value shot up 9% to QR2.44mn and deals by 7% to 105. In the venture market, trade volumes more than tripled to 0.37mn stocks and value tripled to QR1.74mn on almost doubled transactions to 110.

Gulf Times
Business
Faster non-oil expansion triggers 2.5% year-on-year real GDP growth in Qatar in Q1: PSA

A strong rebound in non-oil sectors as construction, realty, information and communication helped Qatar report a 2.5% inflation-adjusted (real) economic growth on an annualised basis during the first quarter (Q1) of 2022, according to the official data. A 5.2% inflation-adjusted growth in the non-hydrocarbons masked the 1.7% decline in the mining and quarrying sectors, leading the country's GDP (gross domestic product) at constant prices (base year 2013) grow 2.5% to QR166.26bn in the review period. The agriculture, forestry and fishing sectors jumped 5.7%, said the figures released by the Planning and Statistics Authority (PSA). On a quarterly basis, the country’s real GDP was down 0.3% during Q1, 2022 although the mining sector grew 0.9%, even as non-mining sectors declined 0.9%. The farm sector had seen a huge 9.4% surge on a quarterly basis. Within non-hydrocarbons, on a yearly basis, the transport and storage sector is estimated to have grown 24.9% in real terms, information and communication (10.5%), construction (8.6%), real estate (7.6%), wholesale and retail trade (3.7%) and utilities (1.7%); while manufacturing tanked 4%, accommodation and food services (0.7%) and finance and insurance (0.1%). On a quarterly basis, the accommodation and food service sector plummeted 23.4%, finance and insurance (12.8%), wholesale and retail trade (10.3%), manufacturing (5.2%), utilities (4.2%), information and communication (3.9%) and real estate (2.2%); whereas construction sector saw a 4.3% growth during the review period. On a nominal basis (at current prices), Qatar's GDP is estimated to have soared 33.4% and 13.2% year-on-year and quarter-on-quarter respectively at the end of Q1, 2022. The hydrocarbons saw a healthy 62.6% and 32.4% surge on yearly and quarterly basis respectively and in the case of non-hydrocarbons, the sector saw 17.6% and 2.2% jump year-on-year and quarter-on-quarter respectively in the review period. Within the non-hydrocarbons sector, there was a stupendous 48.1% yearly surge in manufacturing in nominal terms, 44.2% in transport and storage, 18.1% in construction, 14.7% in finance and insurance, 11.9% in information and communication, 9% in wholesale and retail trade, 8.1% in real estate, 1.1% in accommodation and food services and 0.7% in utilities during the review period. On a quarterly basis in nominal terms, the manufacturing sector saw 18.1% growth, transport and storage (14.1%), utilities (5.4%), finance and insurance (2.6% and real estate (0.1%); whereas accommodation and food service tanked 24.3%, wholesale and retail trade (10.6%) and construction (2.3%). The import duties, on real terms, are estimated to have risen 15.5% and 13.7% year-on-year and quarter-on-quarter respectively at the end of first quarter 2022. On nominal terms, they reported 21.3% and 15.1% jump respectively in the review period.

Gulf Times
Business
QSE edges down; M-cap erodes QR5bn

The Qatar Stock Exchange Monday closed 55 points lower, mainly dragged by the consumer goods and industrials equities. The Gulf funds were increasingly net sellers as the 20-stock Qatar Index declined 0.45% to 12,217.35 points, although it touched an intraday high of 12,316 points. The domestic funds turned net profit takers in the market, whose year-to-date gains were at 5.09%. The Arab individuals were seen bearish in the bourse, whose capitalisation saw more than QR5bn or 0.74% decrease to QR684.8bn, mainly on the back of midcap segments. The Islamic index was seen declining slower than the other indices in the market, where the industrials, real estate and banking sectors together constituted about 84% of the total trading volume. The foreign institutions were increasingly bullish in the bourse, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.32mn changed hands across 13 deals. The foreign individuals were also seen net buyers in the market, which saw no trading of sovereign bonds. Total trade turnover grew amidst lower volumes in the bourse, which saw no trading of treasury bills. The Total Return Index shrank 0.45 to 25,025.11 points, All Share Index by 0.73% to 3,920.48 points and Al Rayan Islamic Index (Price) by 0.15% to 2,647.71 points. The consumer goods and services sector index shrank 1.38%, insurance (0.95%), industrials (0.93%), banks and financial services (0.79%) and telecom (0.5%); while transport gained 0.77% and realty (0.26%). About 59% of the traded constituents were in the red with major shakers being Qatar National Cement, Salam International Investment, Qatar Industrial Manufacturing, QNB, Medicare Group, Ahlibank Qatar, Qatari German Medical Devices, Woqod, Industries Qatar, Al Meera, Qamco, Estithmar Holding, Qatar Insurance and Ooredoo. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, Ahlibank Qatar, Alijarah Holding, Gulf Warehousing, Barwa, Qatar Islamic Bank and Aamal Company were among the gainers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares appreciate in value. The Gulf institutions’ net selling increased substantially to QR24.16mn compared to QR0.39mn on July 3. The domestic funds turned net sellers to the tune of QR9.24mn against net buyers of QR7.32mn on Sunday. The Arab individuals were net sellers to the extent of QR2.2mn compared with net buyers of QR3.88mn the previous day. The Arab institutions were net sellers to the tune of QR0.31mn against no major net exposure on July 3. However, the foreign funds’ net buying grew significantly to QR53.09mn compared to QR59.84mn on Sunday. The foreign individuals were net buyers to the extent of QR1.32mn against net sellers of QR0.69mn the previous day. The Gulf individuals’ net buying strengthened marginally to QR0.9mn compared to QR0.06mn on July 3. Qatari individuals’ net buying weakened noticeably to QR19.4mn against QR22.79mn on Sunday. Total trade volume in the main market fell 9% to 92.24mn shares, while value rose 36% to QR331.37mn and transactions by 95% to 13,397.

Qatar's automobile sector saw a double-digit growth in fresh registrations on an annualised basis this May, paced by robust sales of new private vehicles and motorcycles, according to the official data
Business
Qatar’s auto sector sees a robust 39% year-on-year jump in new registrations in May 2022

Qatar's automobile sector saw a double-digit growth in fresh registrations on an annualised basis this May, paced by robust sales of new private vehicles and motorcycles, according to the official data. The new vehicle registrations stood at 6,535; representing a 39.2% increase year-on-year, but saw a 10.7% decline on a monthly basis, said the figures released by the Planning and Statistics Authority (PSA). The registration of new private vehicles stood at 4,574, which posted a 45.1% surge year-on-year but fell 2.9% month-on-month in May 2022. Such vehicles constituted about 70% of the total new vehicles registered in the country in the review period. The registration of new private transport vehicles stood at 960; which nevertheless shrank 10.9% and 14.7% year-on-year and month-on-month respectively in May 2022. Such vehicles constituted about 15% 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 22.88% and 4.76% year-on-year respectively to QR0.91bn and QR0.2bn in May 2022. Personal loans to Qataris reported an 82.8% surge year-on-year to QR88.13bn and those for non-Qataris by 16.25% to QR9.23bn in the review period. The overall consumption credit to nationals grew 2.92% on an annualised basis to QR148.39bn and that to non-Qataris by 15.98% to QR12.19bn in May 2022. The registration of new private motorcycles almost tripled on a yearly basis to 685 units, even as it plummeted 34.6% month-on-month in May 2022. These constituted more than 10% of the total new vehicles in May 2022. The registration of new heavy equipment stood at 182, which constituted about 3% of the total registration in the review period. Their registrations had seen 8.1% shrinkage on an annualised basis but shot up 15.9% on monthly basis. The new registration of other non-specified vehicles stood at 92 units, which shot up about eight-fold year-on-year whereas it plummeted 61.9% on a monthly basis. The registration of trailers stood at 42 units, which saw a 110.5% expansion on annualised basis and 7.7% month-on-month in the review period. The renewal of registration was reported in 58,506 units, which saw a 6.3% jump year-on-year but shrank 2% on a monthly basis this May. The transfer of ownership was reported in 28,161 vehicles in May 2022, which zoomed 23.8% on a yearly basis but saw a 7.4% contraction month-on-month. The re-registration of vehicles stood at 79, which reported 29.5% jump on an annualised basis but fell 13.2% this May. The modified vehicles’ registration stood at 7,773, which saw a 63.8% and 168.9% expansion on yearly and monthly basis respectively in May 2022. The cancelled vehicles stood at 1,925 units, which shot up 46.4% year-on-year but dipped 15.4% month-on-month in the review period. The number of lost/damaged vehicles stood at 7,550 units, which declined 24% year-on-year but was up 5% on monthly basis in May 2022. The number of vehicles meant for exports stood at 1,571 units, which shrank 13.7% on an annualised basis whereas it grew 1.9% month-on-month this May. The clearing of vehicle-related processes stood at 112,072 units, which expanded 11.6% and 0.6% on a yearly and monthly basis respectively in the review period.

Gulf Times
Business
QSE key index vaults 538 points; M-cap gains QR24bn

* Cabinet nod to allow up to 100% foreign ownership lifts QSE sentiments The Cabinet decision to allow up to 100% foreign ownership in the listed companies had profound impact in the Qatar Stock Exchange (QSE), which saw its key index gain 538 points and capitalisation add QR24bn this week. The industrials, consumer goods, real estate and transport counters witnessed higher than average demand as the 20-stock Qatar Index zoomed 3.73% this week, which saw Estithmar Holding establish Lusail Winter Wonderland. More than 91% of the traded constituents extended gains to investors this week which saw Mannai Infotech and Liferay partner to offer full-scale digital experience in the country. Foreign institutions continued to be net buyers but with lesser intensity this week which saw Qatar's industrial production index jump 6.7% year-on-year in April 2022. The local retail investors were also seen bullish but with lesser vigour this week which saw an Oxford Economics report forecast that Qatar is slated to see sustained upward pressure on rentals in the coming months owing to FIFA World Cup. The domestic institutions’ weakened net selling had its influence in the market this week which saw Qatar' trade surplus grew more than 120% year-on-year to QR36.6bn in May 2022. Similarly, the Gulf institutions’ net selling pressure also weakened this week which saw Qatar's producers’ price index surge 70.8% year-on-year in May 2022. The Gulf retail investors were seen net profit takers this week which saw a total of 0.12mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.32mn trade across 37 deals. The Arab individuals continued to be net buyers but with lesser intensity this week which saw as many as 0.05mn Doha Bank-sponsored QETF valued at QR0.63mn change hands across 17 transactions. The overall trading turnover and volumes were on the decline in the main market this week, which saw the industrials, consumer goods and banking sectors together constitute about 83% of the total trade volume. Market capitalisation gained more than QR24bn or 3.68% to QR684.02bn, mainly on large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills. The Total Return Index soared 3.73%, All Share Index by 3.43% and All Islamic Index by 4.36% this week. The industrials sector zoomed 8.01%, consumer goods and services (5.12%), real estate (4.33%), transport (4.13%), telecom (2.46%), banks and financial services (1.61%) and insurance (0.18%) this week. Major gainers in the main market included Salam International Investment, Baladna, Qamco, Gulf International Services, Aamal Company, Commercial Bank, QNB, QIIB, Qatar First Bank, Masraf Al Rayan, Dlala, Qatar Oman Investment, Inma Holding, Qatar National Cement, Industries Qatar, Woqod, Qatar Electricity and Water, Qatar Industrial Manufacturing, Mazaya Qatar, Ezdan, Barwa, Vodafone Qatar, Ooredoo, Milaha and Nakilat. In the venture market, Al Faleh Educational Holding saw its depreciate in value. Nevertheless, Qatar General Insurance and Reinsurance, Doha Bank, QLM and Doha Insurance notably saw their shares increase in value. In the junior bourse, Mekdam Holding saw its shares appreciate in value. In the main market, the industrials sector accounted for 42% of the total trade volume, consumer goods and services (21%), banks and financial services (20%), real estate (12%), transport (3%), telecom (2%) and insurance (1%) this week. In terms of value, the banks and financial sector’s share was 45%, industrials (32%), consumer goods and services (11%), realty (5%), transport (4%), telecom (3%) and insurance (1%) this week. The domestic funds’ net selling declined substantially to QR274.85mn compared to QR405.52mn the week ended June 23. The Gulf institutions’ net profit booking shrank markedly to QR6.67mn against QR31.83mn the previous week. However, the Gulf individuals were net sellers to the tune of QR13.25mn compared with net buyers of QR4.59mn a week ago. Qatari individuals’ net buying weakened drastically to QR49.53mn against QR148.52mn the week ended June 23. The foreign funds’ net buying shrank noticeably to QR237.61mn compared to QR267.55mn the previous week. The Arab individuals’ net buying declined perceptibly to QR2.49mn against QR2.97mn a week ago. The foreign individuals’ net buying sunk notably to QR2.14mn compared to QR9.29mn the week ended June 23. The Arab institutions’ net buying eased marginally to QR3mn against QR4.45mn the previous week. Total trade volume in the main market fell 11% to 873.2mn shares, value by 13% to QR2.71bn and transactions by 5% to 76,428. The telecom sector’s trade volume plummeted 42% to 15.19mn equities and value by 5% to QR68.71mn, whereas deals rose 12% to 3,181. The banks and financial services sector reported 24% plunge in trade volume to 177.68mn stocks, 10% in value to QR1.22bn and 2% in transactions to 36,403. The insurance sector’s trade volume tanked 22% to 6.41mn shares, value by 29% to QR19.4mn and deals by 26% to 659. The market witnessed 18% shrinkage in the industrials sector’s trade volume to 363.34mn equities, 24% in value to QR872.58mn 22% in transactions to 19,155. The transport sector’s trade volume shrank 4% to 26.23mn stocks and value by 8% to QR118.7mn, while deals expanded 11% to 5,171. There was a 2% contraction in the real estate sector’s trade volume to 100.77mn shares and 2% in value to QR125.69mn but on 14% growth in transactions to 4,449. However, the consumer goods and services sector’s trade volume soared 31% to 183.57mn equities, value by 9% to QR286.8mn and deals by 5% to 7,410. The venture market saw 3.03% jump in trade volumes to 2.04mn stocks but on 2.04% fall in value to QR12.46mn amidst 8.77% higher transactions at 744.

Gulf Times
Business
Qatar's ports see higher vessel calls month-on-month in June 2022

Qatar witnessed a 28% month-on-month increase in vessel calls through Hamad, Doha and Al Ruwais ports in June 2022, indicating the brisk activity, especially in container, livestock and building materials sectors, according to Mwani Qatar. The number of ships calling on Qatar's three ports stood at 274 in June 2022, which was 28% higher compared to May 2022 but declined 8.97% on an annualised basis. As many as 1,392 ships had called on three ports during the first six months of this year. With only few months to go for FIFA World Cup, the mega sporting event; Doha Port is boosting efforts to transform the country into an attractive regional tourist destination serving global cruise ships as well as providing the facilities needed for the economic diversification being pursued by Qatar National Vision 2030. "Qatar’s maritime sector is expected to witness another year of strong growth in light of the efforts taken by the concerned authorities to boost goods traffic at the ports, with expectations of supply chains improving during the next few periods," Mwani Qatar said in its latest annual report. Hamad Port - whose strategic geographical location offers opportunities to create cargo movement towards the upper Gulf, supporting countries such as Kuwait and Iraq and south towards Oman - saw as many as 122 vessels call on the port. The container handling through three ports stood at 118,081 TEUs (twenty-foot equivalent units), which showed a 0.28% increase month-on-month but shrank 9.73% on yearly basis in June 2022. The container handling through the three ports stood at 698,918 TEUs during January-June this year. Hamad Port, which is the largest eco-friendly project in the region and internationally recognised as one of the largest green ports in the world, saw 115,297 TEUs of containers handled this June. The port was ranked the third most efficient gateway in the world on the World Bank and S&P Global Market Intelligence's 370-member container port performance index for 2021. The three ports had handled 25,600 livestock in June 2022, which more than quadrupled on a monthly basis and it soared about 10-fold year-on-year. The ports had handled a total 99,268 heads during January-June this year. The building materials traffic through the three ports amounted to 35,469 tonnes in June this year, which expanded 10.58% and 10.35% month-on-month and year-on-year respectively in the review period. A total of 260,749 tonnes of building materials had been handled by these ports in the first half of 2022. The three ports handled 6,506 vehicles (RORO) in June 2022, which registered a 9.77% growth on a monthly basis but declined 5.9% on an annualised basis. They together handled as many as 38,063 vehicles during January-June 2022. Hamad Port alone handled 6,447 units in June this year. The general cargo handled through the three ports was 101,415 tonnes in June 2022, showing a 36.45% and 42.52% shrinkage month-on-month and year-on-year respectively. Hamad Port - whose multi-use terminal is designed to serve the supply chains for the RORO, grains and livestock - handled 31,192 freight tonnes of break-bulk and 63,169 freight tonnes of bulk in June this year. On a cumulative basis, the general cargo movement through the three ports totalled 854,029 tonnes in the first six months of this year.

The Gulf institutions were seen net profit takers as the 20-stock Qatar Index shed about 46 points or 0.37% to 12,191.3 yesterday, having touched an intraday high of 12,294
Business
Gulf funds’ profit booking drags QSE below 12,200 points

The Qatar Stock Exchange Thursday fell below 12,200 points despite buying interests at the insurance, real estate and consumer goods counters. The Gulf institutions were seen net profit takers as the 20-stock Qatar Index shed about 46 points or 0.37% to 12,191.3 points, having touched an intraday high of 12,294 points. The domestic funds continued to be net sellers but with lesser vigour in the market, whose year-to-date gains were at 4.86%. The foreign institutions’ were seen increasingly into net buying in the bourse, whose capitalisation saw more than QR2bn or 0.3% decrease to QR684.02bn, mainly on the back of microcap segments. The Islamic index was seen declining slower than the other indices in the market, where the consumer goods, industrials and banking sectors together constituted about 86% of the total trading volume. The local retail investors were increasingly bullish in the bourse, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.42mn changed hands across five deals. The Arab individuals were seen net buyers in the market, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills. The Total Return Index shrank 0.37 to 24,971.74 points, the All Share Index by 0.31% to 3,918.78 points and the Al Rayan Islamic Index (Price) by 0.08% to 2,634.46 points. The transport sector index tanked 0.76%, banks and financial services (0.55%) and telecom (0.41%); whereas insurance gained 0.96%, real estate (0.27%) and consumer goods and services (0.14%). The industrials index remained flat. Major shakers in the main market included Nakilat, Qatari German Medical Devices, Inma Holding, Dlala, Estithmar Holding, QNB, Ooredoo and Gulf Warehousing. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. Nevertheless, gainers included Qatar Islamic Insurance, Gulf International Services, Mannai Corporation, Qatari Investors Group, Widam Food, Alijarah Holding, Baladna, Qatar National Cement, Aamal Company, Qamco and Mazaya Qatar. In the juniour bourse, Mekdam Holding saw its shares appreciate in value. The Gulf institutions turned net sellers to the tune of QR28.23mn compared with net buyers of QR6.16mn on June 29. However, the foreign funds’ net buying grew perceptibly to QR59.84mn against QR55.27mn on Wednesday. Qatari individuals’ net buying strengthened noticeably to QR15.17mn compared to QR5.77mn the previous day. The Arab individuals were net buyers to the extent of QR2.58mn against net sellers of QR9.17mn on June 29. The Gulf individuals turned net buyers to the tune of QR1.32mn compared with net sellers of QR1.23mn on Wednesday. The foreign individuals were net buyers to the extent of QR0.8mn against net profit takers of QR1.75mn the previous day. The domestic funds’ net selling declined markedly to QR51.48mn compared to QR55.05mn on June 29. The Arab institutions had no major net exposure for the third straight session. Total trade volume in the main market rose 50% to 197.27mn shares, value by 34% to QR695.4mn and transactions by 2% to 16,291. The transport sector’s trade volume more than doubled to 6.49mn equities and value almost tripled to QR32.33mn on more-than-doubled deals to 1,119. The industrials sector’s trade volume more than doubled to 86.75mn stocks and value also more than doubled to QR210.73mn on a 60% increase in transactions to 4,430. The telecom sector’s trade volume almost doubled to 4.71mn shares and value more than doubled to QR22.79mn on more-than-doubled deals to 1,146. The banks and financial services sector reported a 54% surge in trade volume to 41.09mn equities and 15% in value to QR343.5mn but on a 23% contraction in transactions to 7,097. The real estate sector’s trade volume zoomed 27% to 15.74mn stocks and value by 11% to QR19.58mn, whereas deals were down 5% to 794. However, there was a 50% plunge in the insurance sector’s trade volume to 1.19mn shares, 56% in value to QR3.15mn and 38% in transactions to 125. The consumer goods and services sector’s trade volume tanked 13% to 41.29mn equities, value by 20% to QR63.32mn and deals by 18% to 1,580. The venture market saw trade volumes more than double to 0.47mn stocks and value also more than double to QR2.84mn on almost five-fold jump in transactions to 179.  

The mining PPI escalated 3.58% on a monthly basis in May this year on the back of a 3.58% jump in the average selling price of crude petroleum and natural gas, even as there was a 4.25% decline in stone, sand and clay.
Business
Qatar's PPI surges in May: PSA

Qatar's producers' price index (PPI) surged 70.88% year-on-year in May 2022, mainly on the back of the country's hydrocarbons sector and certain manufacturing businesses such as refined petroleum products, chemicals, basic metals and rubber and plastics, according to the official estimates. Qatar's PPI, which captures the price pressure felt by the producers of goods and services, rose 2.76% on a monthly basis in the review period, the figures released by the Planning and Statistics Authority (PSA) said. The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower. The hardening of the global crude oil and industrial input prices, on account of higher inflation and interest rates, had its reflection in the PPI. The mining PPI, which carries the maximum weight of 82.46%, reported a 79.21% surge on an annualised basis in May 2022 as the average selling price of crude petroleum and natural gas was seen soaring 79.33% and that of stone, sand and clay by 8.66%. The mining PPI escalated 3.58% on a monthly basis in May this year on the back of a 3.58% jump in the average selling price of crude petroleum and natural gas, even as there was a 4.25% decline in stone, sand and clay. The manufacturing sector PPI, which has a weight of 15.85% in the basket, zoomed 41.62% year-on-year in May 2022 due to a 57.5% escalation in the average price of refined petroleum products, 45.39% in chemicals and chemical products, 36.57% in rubber and plastics products, 33.61% in basic metals, 13.93% in cement and other non-metallic mineral products and 1.78% in food products. However, there was a 4.44% decline in the average price of printing and reproduction of recorded media and 0.79% in beverages. The manufacturing sector PPI saw a monthly 0.7% dip this May as the average selling price of chemicals and chemical related products shrank 2.17%, beverages (0.44%) and cement and other non-metallic mineral products (0.01%). Nevertheless, there was a 6.99% expansion in the average price of rubber and plastics products, 2.29% in basic metals, 1.92% in refined petroleum products and 0.82% in printing and reproduction of recorded media. The index of electricity, gas, steam and air conditioning supply reported 1.64% increase on a yearly basis but saw a 13.18% decline month-on-month this May. The index of water supply saw 3.36% weakened on an annualised basis but reported a 2.48% jump month-on-month in May 2022.

Gulf Times
Business
QSE Sentiments weak despite buying at transport, telecom, insurance counters

The Qatar Stock Exchange Wednesday declined 0.45% despite buying interests at the transport, telecom and insurance counters. The Arab individuals were increasingly net sellers as the 20-stock Qatar Index fell about 55 points to 12,237.04 points, although it touched an intraday high of 12,291 points. About 55% of the traded constituents were in the red in the market, whose year-to-date gains were at 5.26%. The foreign institutions’ weakened net selling also had its influence on the bourse, whose capitalisation saw about QR5bn or 0.67% decrease to QR686.1bn, mainly on the back of small cap segments. The Islamic index was seen declining slower than the other indices in the market, where the consumer goods, industrials and banking sectors together constituted more than 85% of the total trading volume. The Gulf institutions however turned bullish in the bourse, which saw a total of 3,870 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn changed hands across six deals. The local retail investors were seen net buyers in the market, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills. The Total Return Index rose 0.45 to 25,065.43 points, the All Share Index by 0.57% to 3,930.86 points and the Al Rayan Islamic Index (Price) by 0.12% to 2,636.5 points. The banks and financial services sector index shrank 0.94%, industrials (0.64%) and real estate (0.63%); while transport gained 1.01%, telecom (0.97%), insurance (0.26%) and consumer goods and services (0.09%). Major shakers in the main market included Doha Insurance, Mannai Corporation, Al Khaleej Takaful, QNB, United Development Company, Commercial Bank, Doha Bank, Qatar First Bank, Alijarah Holding, Ezdan and Mazaya Qatar. In the venture market, Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. Nevertheless, Qatari German Medical Devices, Salam International Investment, Qatar Islamic Insurance, Baladna, QLM, Widam Food, Al Meera, Aamal Company, Ooredoo, Milaha and Nakilat were among the gainers in the main market. The Arab individuals’ net selling increased noticeably to QR9.17mn compared to QR7.99mn on June 28. The foreign individuals’ net selling expanded markedly to QR1.75mn against QR0.04mn the previous day. The foreign institutions’ net buying shrank substantially to QR55.27mn compared to QR109.13mn on Tuesday. However, the Gulf institutions turned net buyers to the tune of QR6.16mn against net sellers of QR4.84mn on June 28. Qatari individuals were net buyers to the extent of QR5.77mn compared with net sellers of QR25.13mn the previous day. The domestic funds’ net selling declined perceptibly to QR55.05mn against QR67.32mn on Tuesday. The Gulf individuals’ net profit booking eased marginally to QR1.23mn compared to QR3.81mn on June 28. The Arab institutions had no major net exposure for the second straight session. Total trade volume in the main market rose 3% to 131.31mn shares and value by 10% to QR519.23mn, while transactions were down 8% to 15,925. The insurance sector’s trade volume almost quadrupled to 2.36mn equities and value almost tripled to QR7.22m on more-than-doubled deals to 202. The consumer goods and services sector’s trade volume soared 86% to 47.72mn stocks and value doubled to QR79.34mn on a 56% increase in transactions to 1,938. There was a 47% surge in the telecom sector’s trade volume to 2.41mn shares and 3% in value to QR9.66mn but on a 15% decline in deals to 513. The real estate sector’s trade volume zoomed 40% to 12.43mn equities and value by 54% to QR17.66mn on almost-doubled transactions to 838. However, the market witnessed a 44% plunge in the transport sector’s trade volume to 2.39mn stocks, 39% in value to QR11.21mn and 52% in deals to 486. The banks and financial services sector’s trade volume plummeted 31% to 26.72mn shares, while value gained 16% to QR298.48mn despite 11% lower transactions at 9,178. The industrials sector reported a 22% shrinkage in trade volume to 37.29mn equities, 30% in value to QR95.66mn and 21% in deals to 1,938. In the venture market, trade volumes shrank 12.5% to 0.21mn stocks, value by 18.84% to QR1.12mn and transactions by 54.88% to 37.