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The listed insurance companies have reported more than doubling (137.89% jump) of their total sectoral net earnings during 2021, substantially improving from the 18.92% increase during 2020, according to the Qatar Stock Exchange data. The insurance sector, which has six listed constituents, reported total net profit of QR1.01bn during 2021 compared to QR426.37mn the previous year, said the bourse data. The insurance sector had seen its net earnings at QR342.02mn during the first quarter (Q1) of 2021 against net loss of QR102.84mn during Q1, 2020. The second quarter (Q2) of 2021 saw the insurance sector's net profitability at QR577.67mn compared to net loss of QR34.97mn the year-ago period. During the third quarter (Q3) of 2021, the overall net profit of the sector was QR801.58mn compared to QR128.33mn during Q3, 2020. In its latest report on ‘GCC Insurance Industry’ Alpen Capital said the insurance market in Qatar is estimated to reach $1.9bn in 2026, growing at a CAGR of 4.7% from 2021. The non-life segment is estimated to grow at a CAGR of 4.7% to reach $1.8bn by 2026, aided by expected recovery in economic activity, tourist arrivals during the 2022 FIFA World Cup, infrastructure developments in the run up to the mega event, and roll out of a new health insurance plan for expatriates and their families. Qatar Insurance, which is the dominant player in the country, saw its net profit jump more than six-fold (509.68%) year-on-year to QR615.88mn during 2021 compared to an 84.48% decline during 2020. Qatar Insurance constituted 61.39% of the total net earnings of the insurance sector, whose index gained 13.82% during 2021, outperforming the 11.4% jump in the QSE's main barometer. The company had netted profit of QR200.63mn, QR342.17mn and QR498.24mn during Q1, Q2 and Q3 of 2021 respectively. QLM had seen its net profit 8.29% year-on-year growth to QR106.17mn or 10.89% of the total net profits of the sector during 2021. It registered a 66.99% surge during Q1, 2021; 9.86% during Q2, 2021 and 6.96% during Q3, 2021. Qatar General Insurance and Reinsurance reported a 24.55% decline in net profit to QR98.73mn during 2021 or 9.9% of the total net profits during 2021. It had seen a 317.56% surge in net earnings during Q1, 2021; 147.25% during Q2 and 2.92% decline during Q3, 2021. Qatar Islamic Insurance witnessed a 5.79% year-on-year jump in net earnings to QR80.11mn or 7.92% of the total net profit of the sector for the entire 2021. It had seen a decline of 5.2% and 3.58% during Q1 and Q2 respectively; but bounced back by growing 1.03% during Q3, 2021. Doha Insurance reported a 22.02% surge year-on-year to QR73.27mn or 6.93% of the total net profit of the sector during 2021. The company had seen a 62.03% growth during Q1, 2021; 26.56% during Q2, 2021 and 22.25% during Q3, 2021. Al Khaleej Takaful was back in black with it reporting net profit of QR40.13mn during 2021 compared to net loss of QR39.32mn during 2020. The company had seen 34.84% increase during Q1, 2021; 54.23% during Q2, 2021 and 49.96% during Q3, 2021.

The impending FIFA World Cup provides a "significant" economic boost to Qatar and Aamal Company, which is seeking to capitalise on new opportunities and maintain its subsidiaries' market-leading positions in view of the growing market demand, according to HE Sheikh Faisal bin Qassim al-Thani, chairman of Aamal. Expecting increasing global recognition of Qatar as an attractive place to invest; Sheikh Faisal said, "These are exciting times for our country and for Aamal as we strive to continue to deliver value for all our stakeholders and continue to explore new opportunities that will help us deliver sustainable growth and profitability." Sheikh Mohamed bin Faisal al-Thani, chief executive officer and managing director of Aamal Holding Aamal’s subsidiaries are always seeking to capitalise on new opportunities and maintain their market-leading positions by enhancing and expanding their offerings with innovative new products and services to satisfy growing market demand, he said in the board report that was placed in the general assembly meeting, where shareholders approved the 2021 financial results and the 5% cash dividend. Sheikh Mohamed bin Faisal al-Thani, chief executive officer and managing director of Aamal Holding, said this year marks a major landmark for Qatar, which is hosting the much-awaited FIFA World Cup, a hugely prestigious, global event that will attract a large number of visitors to the region. "Moreover, we are confident that the World Cup will successfully showcase Qatar’s considerable economic stability, advanced infrastructure and ranking as one of the world’s safest countries; attributes which we expect to appeal to international investors and to generate further significant opportunities," he said. Confidently optimistic regarding the outlook for 2022; he said, "We believe that to capitalise on current trends and identify emerging trends, innovation is more essential than ever and will play a key role in the development and execution of our long-term strategy." Elaborating on segment-wise outlook, the Aamal board said in 2022, major project expenditure of QR74bn combined with capital expenditure of QR4.6bn, is expected to boost demand in the manufacturing sector, thus auguring well for its industrial manufacturing division. "Aamal will capitalise on the sustained demand for building materials, steel structures, piping products and power cables from current and future projects," it said, highlighting that the recently started $30bn North Field liquefied natural gas expansion (LNG) project and the upcoming South Field LNG expansion project, will be the key driving forces for the economy, especially in the local manufacturing sector. The government’s budget allocation of QR20bn to the healthcare sector will drive the growth of its trading and distribution division, particularly the Aamal Medical and Ebn Sina Medical businesses. With several global events taking place this year, including the 2022 FIFA World Cup, the resulting increase in population and rising demand for vehicles will drive robust growth in Aamal’s tyres and lubricants businesses, the board report said. The property segment is expected to witness steady growth in demand from sustained population expansion and new business activities across Qatar in the run up to the 2022 FIFA World Cup. With a new façade and the addition of several well-known outlets, footfall at the City Centre mall is expected to grow significantly in 2022, positively impacting retail revenue, the board said. "In 2022, about 20 new shops are scheduled to open at City Center Doha and footfall will be boosted by the construction of a bridge connecting the second floor of the mall to the metro," Sheikh Mohamed said. Aamal’s property portfolio will leverage the opportunities presented by the government’s commitment to providing accommodation facilities for visitors during the 2022 FIFA World Cup, the board report said.

The International Monetary Fund (IMF), which is appreciative of Qatar's efforts in Afghanistan evacuation, on Monday said the Middle East and North Africa (Mena) has to strengthen its access to finance for small and medium enterprises (SMEs) and create more jobs for the youth. "The very youthful region, from the perspective of deploying young smart people, the first and foremost needs jobs for all of them. Unemployment among young people in the Mena region is 30%," IMF managing director Kristalina Georgieva told a roundtable discussion on 'Future of the Youth: Role of Education and Technology' with university students including from Qatar Foundation partner universities, Qatar University, and the Afghan Robotics Girls Team. Expressing "concern" over the lack of access to finance for young people; she said at present, the region is better placed especially because of financial inclusion based on digitalisation and the pandemic is certainly helping to open up more channels for everybody to be part of the financial system. But it is still much more difficult for young people to be recognised as credible entrepreneurs and more broadly for the SMEs, she added. "As much as 96% of the SMEs in this (Mena) region are registered and they are the major contributors to the employment, 60% to the employment; but they only get 7% of financing. So obviously, this is where we as a financial institution, we work with our members in the region to try to change," the IMF chief said. The average share of SMEs in total bank lending in MENAP and CCA countries is only about 7%, the lowest in the world. The IMF and other international institutions, therefore, have a key role in supporting the prioritisation of reforms and the design of policy strategies in a way that increases SME financial inclusion that is country-specific and build on international experience, said the Bretton Wood's research paper. According to the World Bank Enterprise Survey, a comparatively high percentage of firms in the MENAP region (about 32%) report access to credit as a major constraint (compared with the world average of 26%). The percentage is lower in the CCA region (18%). Highlighting that the world has become unequal, she said unfortunately during the pandemic, inequality within and across countries has grown and the greatest concern is that "the dangerous divergence" has happened over the last (few) years. Georgieva said wealthy countries were able to support their people and business on a massive scale, providing 28% of their GDP (gross domestic product) in stimulus; whereas the middle income countries 6% and poor countries 2%. The "dangerous divergence", she said, had led the poor countries becoming poorer, undermining the chances for stability, security and peace in the world. On Afghanistan's decision to bar girls from education, she said "it is a tragedy" but added many are investing and Qatar deserves a great deal of praise because it is the country that has helped, more than anybody else, to evacuate Afghan people.

Qatar's trade surplus saw a 69.5% year-on-year growth in trade surplus to QR22.41bn this February as the exports of crude and non-crude more than doubled and there was a robust double-digit expansion in the shipments of petroleum gases, according to the official statistics. The rebound in the country's merchandise trade surplus has been enabled by robust jump in shipments to Asian countries, which constituted more than 60% of Qatar's exports during the period in review, said the figures released by the Planning and Statistics Authority. Nevertheless, Qatar's trade surplus showed a 13.5% month-on-month decline in February 2022 as exports fell faster than imports. The country's total exports of goods (including exports of goods of domestic origin and re-exports) were QR31.88bn, showing a stupendous 54.6% surge year-on-year but shrank 10.3% compared to January 2022. In February 2022, Qatar's shipments to China amounted to QR7.06bn or 22.2% of the total exports of the country, followed by Japan QR5.3bn (16.6%), South Korea QR3.72bn (11.7%), India QR3.26bn (10.2%) and the UK QR1.84bn (5.8%). On a yearly basis, Qatar's exports to the UK grew almost 77-fold, those to China more than doubled; and those to Japan and South Korea expanded 46.81% and 1.64% respectively; whereas those to India declined 7.12% in the review period. On a monthly basis, Qatar's exports to India, South Korea and the UK were seen declining 22.01%, 10.58% and 10.24% respectively; while those to Japan and China grew 32.5% and 2.77% respectively in February 2022. The exports of non-crude more than doubled (127.4%) to QR3bn, crude also more than doubled (120.3%) to QR5.45bn, petroleum gases and other gaseous hydrocarbons shot up 41.7% to QR18.94bn and other commodities by 37.8% to QR3.6bn. On a monthly basis, the exports of other commodities tanked 16.2%, petroleum gases and other gaseous hydrocarbons (13.9%) and crude (1.7%); whereas those of non-crude grew 3.9% in January 2022. Petroleum gases constituted 61.12% of the exports of domestic products in February 2022 compared to 67.63% a year ago period; followed by crude 17.59% (12.54%), non-crude 9.68% (6.68%) and other commodities 11.62% (13.2%). Qatar's total imports (valued at cost insurance and freight) amounted to QR9.47bn, which zoomed 28.1% year-on-year but declined 1.9% month-on-month in February 2022. The country's imports from China stood at QR1.68bn, which accounted for 17.7% of the total imports; followed by the US at QR0.94bn (9.9%), Italy QR0.69bn (7.3%), India QR0.66bn (7%) and Oman QR0.57bn (6%). On a yearly basis, Qatar's imports from Oman more than tripled, those from Italy shot up 66.99%, India by 46.44%, China 37.7% and the US 13.85% in February 2022. On a monthly basis, the country's imports from China decreased 27.9%, the US by 12.76% and India by 6.52%; while those from Oman almost tripled and those from Italy grew 62.65% in the review period. In February 2022, the group of "Motorcars and other motor vehicles for the transport of people was at the top of the imported group of commodities with QR0.5bn, showing a yearly increase of 47.9%. In the second place was "Turbojets, Turbo propellers and other gas turbines; parts thereof with QR0.4bn, showing a 50.2% expansion on a yearly basis and part of aircraft, spacecraft with QR0.2bn, registering 6.5% year-on-year growth in the review period.

The Qatar Stock Exchange Sunday opened the week on stronger note as its key index gained more than 99 points to surpass the 13,700 levels, mainly on the back of strong buying in the banking counter. The Arab individuals turned net buyers as the 20-stock Qatar Index settled 0.73% higher at 13,731.33 points, although it touched an intraday high of 13,764 points. The Islamic index was seen gaining slower than the other indices in the market, whose year-to-date gains were at 18.11%. The local retail investors’ weakened net selling had its influence in the market, whose capitalisation saw more than QR4bn or 0.57% increase to QR774.48bn, mainly on the back of small cap segments. The domestic institutions substantially weakened net selling also had its role in the bourse, where the industrials sector alone accounted for more than 52% of the trading volume. The foreign institutions continued to be net buyers but with lesser intensity in the market, which saw a total of 615,018 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR8.05mn changed hands across 160 deals. Similarly, the Gulf funds also continued to be bearish but with lesser vigour in the bourse, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the decrease in the market, which saw no trading of treasury bills. The Total Return Index gained 0.73% to 28,016.37 points, the All Share Index by 0.66% to 4,384.36 points and the Al Rayan Islamic Index (Price) by 0.76% to 2,976.79 points. The banks and financial services index shot up 1.18%, real estate (0.57%), insurance (0.27%), consumer goods and services (0.24%) and industrials (0.09%); while transport declined 0.81% and telecom (0.52%). Major gainers in the main market included Qatari German Medical Devices, Widam Food, Qamco, Qatar Islamic Bank, QIIB, Gulf International Services, Investment Holding Group, Qatar Islamic Insurance, Ezdan and Barwa. Nevertheless, Qatar General Insurance and Reinsurance, Inma Holding, Medicare Group, Nakilat, Mannai Corporation and Ooredoo 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 Arab individuals were net buyers to the tune of QR18.66mn compared with net sellers of QR10.14mn on March 24. The Arab institutions turned net buyers to the extent of QR0.01mn against net profit takers of QR0.11mn last Thursday. The domestic funds’ net selling declined considerably to QR147.12mn compared to QR239.94mn the previous trading day. Qatari individuals’ net profit booking fell markedly to QR19.54mn against QR67.53mn on March 24. However, the Gulf individuals were net sellers to the tune of QR0.07mn compared with net buyers of QR0.68mn last Thursday. The foreign institutions’ net buying decreased significantly to QR79.2mn against QR205.82mn the previous trading day. The Gulf institutions’ net buying weakened noticeably to QR67.38mn compared to QR108.73mn on March 24. The foreign individuals’ net buying shrank perceptibly to QR1.49mn against QR2.44mn last Thursday. Total trade volume in the main market fell 17% to 225.74mn shares, value by 28% to QR818.26mn and transactions by 24% to 16,484. The real estate sector reported a 46% plunge in trade volume to 19.51mn equities, 52% in value to QR29.94mn and 33% in deals to 959. The banks and financial services sector’s trade volume plummeted 39% to 38.49mn stocks, value by 42% to QR332.61mn and transactions by 32% to 6,615. There was a 27% shrinkage in the transport sector’s trade volume to 4.62mn shares and 6% in value to QR25.9mn but on 12% increase in deals to 1,144. The telecom sector’s trade volume tanked 24% to 1.91mn equities, value by 5% to QR8.69mn and transactions by 3% to 689. The market witnessed 4% contraction in the industrials sector’s trade volume to 117.93mn stocks, 14% in value to QR309.21mn and 34% in deals to 4,191. However, the consumer goods and services sector’s trade volume grew 5% to 36.49mn shares, value by 16% to QR93.66mn and transactions by 23% to 2,319. The insurance sector saw a 2% jump in trade volume to 6.8mn equities but on 11% dip in value to QR18.26mn despite 23% higher deals at 567. In the venture market, trade volumes more than quadrupled to 0.89mn stocks and value more than tripled to QR6.07mn on 71.72% increase in transactions to 170.

Higher oil prices, owing to the simmering Ukraine-Russia crisis, had lifted sentiments in the Gulf bourses, including the Qatar Stock Exchange (QSE), which gained a huge 234 points in key index and QR12bn in capitalisation this week. The industrials, real estate and banking counters witnessed higher than average demand as the 20-stock Qatar Index surged 1.75% this week which saw Commercial Bank and Doha Bank receive nod from shareholders to enhance the foreign ownership limit up to 100%. The Arab individuals were seen net buyers this week which saw Baladna acquire 5% stake in Egypt’s Juhayna Food Industries for QR67.09mn. The local retail investors’ substantially weakened net selling pressure also had its influence in the market this week which saw Capital Intelligence confirm Qatar Islamic Bank’s rating of ‘A1+’. The domestic funds’ lower net selling pressure played its part in the bourse this week which saw Doha Bank disclose its intention to strengthen its digital footprint, including E-commerce. The foreign institutions continued to be net buyers but with lesser intensity this week which saw the listed companies, under the industrial segment, register more than 252% surge in net earnings during 2021. The Islamic index was seen gaining faster than the other indices this week, which saw a total of 214,489 Doha Bank-sponsored exchange traded fund QETF valued at QR2.89mn change hands across 255 transactions. The Gulf funds continued to be net buyers but with lesser vigour this week which saw as many as 39,606 Masraf Al Rayan-sponsored QATR worth QR117,427 trade across 24 deals. Market capitalisation was seen expanding 1.61% to QR770.1bn, mainly on large and midcap segments this week, which saw the industrials and banking sectors together constitute about 64% of the trade volume. The Total Return Index gained 1.75%, All Share Index by 1.52% and All Islamic Index by 1.8% this week which nevertheless saw total trading volumes and value on the decline. The industrials sector index zoomed 3.33%, real estate (2.11%), banks and financial services (1.91%) and insurance (0.06%); whereas transport declined 3.4%, consumer goods and services (2.23%) and telecom (1.46%) this week, which saw the QSE enter into pact with Astana Stock Exchange. Major gainers in the main market included Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Qatari Investors Group, Qatar Islamic Bank, Barwa, QNB, QIIB, Inma Holding, Mannai Corporation, Industries Qatar, Aamal Company, Qatari Investors Group, Qamco and Gulf Warehousing; while Mekdam Holding saw its shares appreciate in the venture market this week, which saw no trading of sovereign bonds. Nevertheless, Medicare Group, Qatar Oman Investment, Nakilat, Mazaya Qatar, Commercial Bank, Doha Bank, Alijarah Holding, Qatari German Medical Devices, Salam International Investment, Woqod, Qatar National Cement, Ezdan, Ooredoo and Milaha were among the prime losers in the market; while Al Faleh Educational Holding saw its shares depreciate in value in the juniour bourse this week, which saw no trading of treasury bills. In the main market, the industrials sector accounted for 41% of the total trade volume, banks and financial services (23%), consumer goods and services (17%), real estate (14%), transport (2%), and telecom and insurance (1% each) this week. In terms of value, the banks and financial sector’s share was 45%, industrials (34%), consumer goods and services (10%), realty (6%), transport (2%) and telecom and insurance (1% each) this week. The Arab individuals turned net buyers to the tune of QR7.14mn compared with net sellers of QR11.2mn the previous week. The Gulf individuals’ net buying rose perceptibly to QR4.16mn against QR2.8mn the week ended March 17. Qatari individuals’ net selling declined drastically to QR135.2mn compared to QR372.09mn a week ago. The domestic funs’ net selling eased marginally to QR870.21mn against QR872.72mn the previous week. The foreign individuals’ net selling weakened noticeably to QR1.51mn compared to QR6.9mn the week ended March 17. The Arab funds’ net profit booking shrank marginally to QR0.08mn against QR0.18mn a week ago. However, the foreign funds’ net buying fell significantly to QR694.38mn compared to QR838.43mn the previous week. The Gulf institutions’ net buying reduced markedly to QR301.32mn against QR421.86mn the week ended March 17. Total trade volume in the main market fell 27% to 1.15bn shares, value by 24% to QR4.15bn and transactions by 6% to 92,632. There was 44% plunge in the telecom sector’s trade volume to 14.13mn equities, 49 in value to QR46.67mn and 18% in deals to 2,978. The banks and financial services sector’s trade volume plummeted 41% to 259.62mn stocks, value by 26% to QR1.88bn and transactions by 9% to 40,955. The real estate sector reported 35% shrinkage in trade volume to 166.1mn shares, 34% in value to QR250.65mn and 9% in deals to 8,301. The consumer goods and services sector’s trade volume tanked 30% to 197.58mn equities and value by 15% to QR420.39mn, while transactions rose 13% to 9,572. The market witnessed 18% contraction in the industrials sector’s trade volume to 472.3mn stocks, 21% in value to QR1.41bn and 10% in deals to 25,867. The transport sector’s trade volume shrank 18% to 20.05mn shares and value by 22% to QR90.96mn, whereas transactions expanded 14% to 3,345. The insurance sector saw less than 1% dip in trade volume to 16.93mn equities but on 5% jump in value to QR56.81mn and 23% in deals to 1,614. In the venture market, trade volumes zoomed 21.74% to 0.84mn stocks, value by 65.08% to QR8.65mn and transactions by 55.91% to 343.

Doha flight information region (FIR) is all set to be a reality with the International Civil Aviation Organisation (ICAO) agreeing to proceed with its establishment in twin phases, which not only ensures Qatar’s sovereign airspace but also help the country add new air routes. The establishment of Doha FIR is on the basis of a phased approach as presented in the ICAO council’s report. This came during the 10th meeting of the council in its 225th session held on March 11, 2022. The council’s decision, which approved the dimensions of the Doha FIR/SRR (search and rescue region), including the revised dimensions of the Bahrain FIR/SRR, would be established in two phases. The first phase of the Doha FIR covers all the economic waters and land of Qatar in addition to the international waters east of Qatar till the borders of the UAE to an unlimited altitude. The airspace above the international waters north of Qatar until the borders of Iran will be controlled to an altitude of 24,500 feet above sea level. The council agreed that within two years, upon successful implementation of the first phase, the second phase shall see all areas of the Doha FIR expanded to an unlimited altitude. "Qatar is looking forward to cooperation between all countries for the timely implementation of the decisions made," Minister of Transport HE Jassim Saif Ahmed al-Sulaiti said, reaffirming Qatar’s commitment to safety and security of the civil aviation. Qatar initiated its endeavor to achieve a Doha FIR/SRR back in 2018 until the issuance of the ICAO decision C-DEC223/9 where the Doha FIR/SRR proposal was agreed in principle. The minister appreciated the efforts of the ICAO council in this regard and thanked the stance of the member states to approve Qatar’s proposal, which contributed to setting out a full plan for its implementation. During the implementation of the first phase of Doha FIR, Qatar will be able to add new air routes and increase the capacity of the aircraft waiting area in the air, he said. This is in addition to increasing the area of search and rescue according to the FIR’s new dimensions, thus keeping pace with the development and achievements being witnessed by Qatar’s civil aviation and based on the country’s clear right to achieve its own region, according to al-Sulaiti. Qatar's civil aviation achievements include developing the systems used in air navigation in line with latest global specifications, besides increasing the number of vital air routes within Qatar’s airspace in order to accommodate the requirements of large air traffic, thus demonstrating the unique performance of the services in the country. Qatar has over the past years been stressing its firm belief in the rules and fundamentals that govern the relations between countries in the civil aviation community. Stressing that Qatar is also proud of being a key and active contributor and player in that UN body, he said Qatar will spare no effort in supporting the universal civil aviation industry to create an aviation sector that is safe, secure, sustainable and efficient.

Doha Bank, which is strengthening its e-commerce platform, is considering automation, digitisation and innovation at the heart of its strategy in view of the rapid evolution to technological landscape. "We will continue embracing emerging technologies to build customer-centric solutions. Moreover, our culture inspires empowerment, accountability and talent development, which along with our values will drive the bank’s progress towards a better future," the bank's board Wednesday informed shareholders at the annual general assembly meeting, which was presided over by Sheikh Fahad bin Mohamed bin Jabor al-Thani, Doha Bank chairman. The meeting endorsed the board’s recommendation to distribute cash dividends of QR0.075 per share to the shareholders. The extraordinary general assembly saw shareholders’ approval for up to 100% foreign ownership limit in bank’s capital. As the financial services industry stands at an inflection point, and several disruptive forces such as digitisation, competitive pressure, and fast evolving regulations are enforcing a bigger change; Doha Bank remains fully committed towards its customers, shareholders, people and larger society, according to the board. Highlighting that the pandemic has created a pressing opportunity for the bank to speed up all initiatives on the digital transformation journey; it said the bank is upbeat on delivering digital services through all alternative channels. There has been a 42% increase in financial transactions on digital channels during 2020-21, the board said, adding there has also been a “sizeable” increase in online penetration whereby the online transaction ratio increased from 63% to 74% for local funds transfer and from 29% to 45% for international funds transfer. Speaking on the sidelines of the general assembly, Doha Bank group chief executive Dr R Seetharaman said digital banking is on the cards; but pending approval from the regulator. "We are going to revamp the complete infrastructure," he said, adding the aim is to pass on the digital advantage to the customers. Doha Bank has maintained its position as one of the key players in Qatar’s banking industry. This has been achieved through bank’s strategy, which encompass seven strategic guiding principles and 5R model, according to the board. Doha Bank would continue focusing on customer experience enhancement, revenue optimisation and cost reduction opportunities.

The Qatar Stock Exchange on Wednesday gained more than 128 points and its key index surpassed 13,500 levels, mainly on the back of strong buying in the industrials counter. The foreign institutions were increasingly bullish as the 20-stock Qatar Index rose 0.96% to 13,525.04 points, recovering from an intraday low of 13,324 points. The Islamic index was seen gaining slower than the other indices in the market, whose year-to-date gains were at 16.34%. More than 71% of the traded constituents extended gains in the market, whose capitalisation saw about QR7bn or 0.89% increase to QR764.62bn, mainly on the back of mid and small cap segments. The Gulf funds were also increasingly net buyers in the bourse, where the industrials and banking sectors together accounted for about 73% of the trading volume. The Arab individuals continued to be net buyers but with lesser intensity in the market, which saw a total of 32,611 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR359,442 changed hands across 16 deals. The domestic institutions were increasingly net profit takers in the bourse, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the increase in the market, which saw no trading of treasury bills. The Total Return Index gained 0.96% to 27,595.48 points, All Share Index by 0.84% to 4,321.49 points and Al Rayan Islamic Index (Price) by 0.89% to 2,936.93 points. The industrials sector index zoomed 1.77%, banks and financial services (0.77%), consumer goods and services (0.51%) and real estate (0.31%); whereas transport declined 0.48%, telecom (0.4%) and insurance (0.1%). Major gainers in the main market included Mesaieed Petrochemical Holding, Investment Holding Group, Industries Qatar, Qamco, Gulf International Services, Qatar Islamic Bank, Zad Holding, Dlala, Qatari Investors Group, Mazaya Qatar and Gulf Warehousing. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value. Nevertheless, QLM, Qatar First Bank, Nakilat, Qatar German Medical Devices and Ooredoo were among the losers in the main market. The foreign institutions’ net buying increased significantly to QR231.79mn against QR108.69mn on March 22. The Gulf institutions’ net buying strengthened drastically to QR124.58mn compared to QR6.6mn on Tuesday. Qatari individuals’ net selling declined marginally to QR27.52mn against QR27.67mn the previous day. However, the domestic funds’ net selling grew considerably to QR328.19mn compared to QR97.5mn on March 22. The foreign individuals’ net profit booking gained perceptibly to QR2.36mn against QR0.28mn on Tuesday. The Arab individuals’ net buying shrank noticeably to QR1.61mn compared to QR9.02mn the previous day. The Gulf individuals’ net buying eased marginally to QR0.09mn against QR1.14mn on March 22. The Arab institutions continued to have no major net exposure for the second straight session. Total trade volume in the main market rose 44% to 248.86mn shares, value by 80% to QR1.1bn and transactions by 11% to 21,325. The banks and financial services sector’s trade volume more than doubled to 77.12mn equities and value also more than doubled to QR603.03mn on 28% increase in deals to 10,401. The industrials sector reported 55% surge in trade volume to 103.34mn stocks, 60% in value to QR331.56mn and 29% in transactions to 6,277. The insurance sector’s trade volume shot up 40% to 3.11mn shares, value by 38% to QR11.49mn and deals by 30% to 301. The market witnessed 26% expansion in the consumer goods and services sector’s trade volume to 34.73mn equities and 1% in value to QR78.27mn but on 26% decrease in transactions to 1,764. The transport sector’s trade volume zoomed 25% to 4.43mn stocks, value by 25% to QR20.59mn and deals by 22% to 807. However, there was 33% contraction in the telecom sector’s trade volume to 2.26mn shares and 32% in value to QR7.51mn but on 11% jump in transactions to 524. The real estate sector’s trade volume plummeted 26% to 23.87mn equities, value by 13% to QR43.15mn and deals by 49% to 1,251. The venture market registered almost quadrupled trade volumes to 0.38mn stocks and value more than tripled to QR4.06mn on more than tripled transactions to 135.

Qatar is on path to develop its legislative structure in accordance with the best international standards as alternative means of settlement, particularly arbitration, has become one of the most prominent means of attracting foreign investments. Addressing the 4th World Conference on International Arbitration, the Minister of Justice HE Masoud bin Mohamed al-Ameri emphasised Qatar’s keenness to develop an effective national arbitration system that adopts the best global standards. This would be made possible in cooperation with all national partners, such as QICCA (Qatar International Centre for Conciliation and Arbitration) at the Qatar Chamber (QC), whose new rules will be issued soon to join the legislative and judicial systems in the field of international commercial arbitration, he said. The number of arbitration rulings received by the administrative unit specialised in arbitration affairs at the Ministry of Justice stood at 41 in 2020, while the number of judgments in 2021 reached about 43 arbitration rulings between institutional arbitration and free arbitration, with a total value of claims of more than QR9bn, of which QICCA had the largest share, according to him. "Qatar is on path to develop its legislative, legal, and judicial structure in accordance with the best international standards to achieve the rule of law and sustainable development and to uphold the principles of justice and human rights by promoting community awareness of international commercial arbitration and disseminating its culture," said the minister in the presence of QC and QICCA chairman Sheikh Khalifa bin Jassim al-Thani; QC first vice chairman Mohamed bin Ahmed bin Tawar al-Kuwari; QICCA board member for international relations Sheikh Dr Thani bin Ali al-Thani and other dignitaries. The conference coincides with the fifth anniversary of issuing the Qatari arbitration law and the issuance of QICCA’s rules for conciliation and arbitration. Underscoring the country's interest in international commercial arbitration, the minister said Doha has issued Law No. 2 of 2017 promulgating the Civil and Commercial Arbitration Law, whose principles and provisions were based on the UNCITRAL Model Law and the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958, noting that Qatar issued Decree No 29 of 2003 ratifying the accession of Qatar to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards. The minister said the alternative means of settlement, in particular arbitration, had become one of the most prominent pillars of brighter economic development, and one of the most important means of attracting foreign investment. Sheikh Khalifa said the arbitration process mainly contributes to encouraging foreign investments, as it removes the fears of foreign investors about the slow pace of local litigation procedures and offer them a quick settlement of their disputes without causing any damage to their investments. "Arbitration has become a means of reassurance that protects and guarantees rights of the investors and preserves its capitals," he said, stressing that the transparency and clarity in the arbitration law in the host country have a direct correlation with the country's attractiveness to foreign investments. Sheikh Khalifa indicated that the Qatar Arbitration Law, which was issued five years ago, instils confidence among international investors, especially in light of the economic boom witnessed by Qatar, the increasing demand of major global companies to invest in the state, and the existence of major infrastructure projects or those related to the 2022 FIFA World Cup and other promising sectors for investment in the country.    

An across the board buying, especially in the banking and financial services, yesterday lifted the Qatar Stock Exchange more than 53 points and its key index inched towards 13,400 levels. Foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.4% higher at 13,383.44 points, recovering from an intraday low of 13,297 points. The Islamic index was seen gaining faster than the other indices in the market, whose year-to-date gains were at 15.12%. The Gulf funds were increasingly bullish in the market, whose capitalisation saw more than QR2bn or 0.32% increase to QR756.41bn, mainly on the back of midcap segments. The Arab funds were seen net buyers, albeit at lower levels, in the bourse, where the industrials, consumer goods and banking sectors together accounted for about 84% of the trading volume. Nevertheless, the domestic funds were increasingly into net selling in the bourse, which saw a total of 56,560 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR691,032 changed hands across 70 deals. The local retail investors were seen net sellers 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 rose 0.4% to 27,306.57points, the All Share Index by 0.35% to 4,280.93 points and the Al Rayan Islamic Index (Price) by 0.49% to 2,896.28 points. The banks and financial services sector index gained 0.46%, transport (0.34%), real estate (0.29%), industrials (0.24%), telecom (0.19%), consumer goods and services (0.12%) and insurance (0.04%). Major gainers in the main market included Qamco, Medicare Group, Qatar Industrial Manufacturing, Qatar Islamic Insurance, Mannai Corporation, Qatar Islamic Bank and Ooredoo. In the venture market, Mekdam Holding saw its shares appreciate in value. Nevertheless, Al Khaleej Takaful, Qatar Oman Investment, Qatar General Insurance and Reinsurance, Qatar First Bank, Salam International Investment, Aamal Company and Gulf International Services were among the losers in the main market. The foreign institutions’ net buying increased significantly to QR121.49mn compared to QR26.59mn on March 20. The Gulf institutions’ net buying zoomed substantially to QR58.71mn against QR2.7mn the previous day. The Arab institutions were seen net buyers to the tune of QR0.03mn compared with no major net exposure on Sunday. However, the domestic funds’ net selling expanded considerably to QR154.24mn against QR50.33mn on March 20. Qatari individuals turned net sellers to the extent of QR16.88mn compared with net buyers of QR4.4mn the previous day. The Arab individuals were net sellers to the tune of QR8.75mn against net buyers of QR15.36mn on Sunday. The foreign individuals’ net profit booking rose perceptibly to QR1.25mn compared to QR0.07mn on March 20. The Gulf individuals’ net buying eased marginally to QR0.9mn against QR1.35mn the previous day. Total trade volume in the main market fell 17% to 205.16mn shares, while value rose 10% to QR689.34mn and transactions by 36% to 17,617. The real estate sector reported a 52% plunge in trade volume to 23.7mn equities, 34% in value to QR38mn and 1% in deals to 1,579. The industrials sector’s trade volume plummeted 43% to 65.14mn stocks, value by 43% to QR184.24mn and transactions by 18% to 3,784. However, the telecom sector’s trade volume more than doubled to 4.04mn shares and value more than doubled to QR13.48mn on more-than-quadrupled deals to 1,029. The market witnessed a 42% surge in the consumer goods and services sector’s trade volume to 58.94mn equities, 4% in value to QR93.75mn and 15% in transactions to 1,890. The banks and financial services sector’s trade volume soared 35% to 47.84mn stocks and value more than doubled to QR337.94mn on more than doubled deals to 8,597. There was a 13% expansion in the insurance sector’s trade volume to 2.6mn shares and 35% in value to QR9.4mn on flat transactions at 310. The transport sector’s trade volume was up 1% to 2.9mn equities, while value was down 9% to QR12.53mn despite 1% higher deals at 428. In the venture market, trade volumes almost tripled to 0.11mn stocks and value more than tripled to QR1.16mn on a 74.07% jump in transactions to 47.    

The Qatar Stock Exchange on Sunday opened the week weak despite strong buying interests of Arab and local retail investors. The foreign institutions’ net buying weakened substantially as the 20-stock Qatar Index fell 67 points or 0.5% to 13,330.31 points, although it touched an intraday high of 13,413 points. The Islamic index was seen declining faster than the other indices in the market, whose year-to-date gains were at 14.66%. More than 67% of the traded constituents were in the red the market, whose capitalisation saw about QR4bn or 0.51% increase to QR753.99bn, mainly on the back of mid and small cap segments. A higher than average selling pressure was visible in the consumer goods, transport and telecom counters in the bourse, where the industrials and realty sectors together accounted for more than 66% of the trading volume. The domestic funds’ net selling weakened significantly in the bourse, which saw a total of 65,020 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR821,277 changed hands across 93 deals. The Gulf individuals were increasingly net buyers, albeit at lower levels, 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 shed 0.5% to 27,198.17points, the All Share Index by 0.57% to 4,265.99 points and the Al Rayan Islamic Index (Price) by 0.69% to 2,882.05 points. The consumer goods and services sector index shrank 1.39%, transport (1.3%), telecom (1.07%), banks and financial services (0.73%) and realty (0.5%); whereas insurance and industrials gained 0.21% and 0.13% respectively. Major losers in the main market included Medicare Group, Qamco, Qatar National Cement, Mazaya Qatar, QNB, Alijarah Holding, Qatari German Medical Devices, Gulf International Services, Ezdan, Nakilat and Ooredoo. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value. Nevertheless, Inma Holding, Mannai Corporation, Aamal Company, Qatari Investors Group, QLM, Dlala, Mesaieed Petrochemical Holding and Gulf Warehousing were among the gainers in the main market. In the juniour bourse, Mekdam Holding saw its shares appreciate in value. The foreign institutions’ net buying decreased significantly to QR26.59mn compared to QR305.7mn on March 17. The Gulf institutions’ net buying declined substantially to QR2.7mn against QR117.67mn the previous trading day. However, the Arab individuals turned net buyers to the tune of QR15.36mn compared with net sellers of QR20mn last Thursday. Qatari individuals were net buyers to the extent of QR4.4mn against net sellers of QR140.21mn on March 17. The Gulf individuals’ net buying grew marginally to QR1.35mn compared to QR1.07mn the previous trading day. The domestic funds’ net selling weakened considerably to QR50.33mn against QR263.01mn last Thursday. The foreign individuals’ net selling eased perceptibly to QR0.07mn compared to QR1.24mn on March 17. The Arab institutions had no major net exposure against net buyers to the tune of QR0.03mn the previous trading day. Total trade volume in the main market fell 30% to 247.94mn shares, value by 59% to QR625.56mn and transactions by 42% to 12,955. The transport sector’s trade volume plummeted 72% to 2.86mn equities, value by 72% to QR13.8mn and deals by 52% to 424. The banks and financial services sector reported a 71% plunge in trade volume to 35.47mn stocks, 85% in value to QR125.72mn and 66% in transactions to 4,135. The telecom sector’s trade volume tanked 65% to 1.95mn shares, value by 75% to QR5.53mn and deals by 54% to 242. The market witnessed a 37% shrinkage in the consumer goods and services sector’s trade volume to 41.57mn equities, 36% in value to QR90.42mn and 17% in transactions to 1,648. The insurance sector’s trade volume shrank 22% to 2.3mn stocks and value by 13% to QR6.97mn, while deals were up 8% to 310. However, the real estate sector reported a 26% surge in trade volume to 49.83mn shares but on a 16% contraction in value to QR57.36mn despite 34% higher transactions at 1,595. The industrials sector’s trade volume was up 5% to 113.96mn equities, whereas value eroded 13% to QR325.77mn and deals by 18% to 4,601. The venture market saw an 80.95% contraction in trade volumes to 0.04mn stocks, 73.05% in value to QR0.38mn and 65.82% in transactions to 27.

Global insurance rating agency AM Best has revised the outlook of the insurance sector in the Gulf Co-operation Council (GCC) to "stable" from "negative", driven by rallying oil prices driving economic recovery across the region, increased opportunities for the insurance sector growth and recovering financial markets. In late-February 2022, oil prices hit an eight-year high on Ukraine-Russian crisis. For the first time since 2014, the price of Brent crude exceeded $100 per barrel, in sharp contrast to the lows in early 2020 of $20. Rising oil prices are attributed to supply concerns amidst excess demand for oil, as the countries emerge from periods of pandemic-related measures, it said, adding the economies of the GCC are highly sensitive to oil price changes, and there is a correlation between oil prices and growth in GDP (gross domestic product). Sustained higher oil prices are expected to have a substantial impact on regional economic recovery and public spending capacity across the GCC. As at February 2022, the price of oil on a per barrel basis largely exceeded the estimated fiscal breakeven points of the GCC. "The increased economic activity and greater governmental fiscal manoeuvrability are positives for the insurance markets of the region," it said. The rating agency expects the strengthening economic fundamentals to directly contribute to the demand for insurance products in the near term. Many insurance segments in the GCC observed healthier premium growth year-on-year over the first half of 2021. For many insurers in the GCC, there has historically been at least a partial reliance on public spending -- notably on infrastructure projects—for premium growth opportunities. "A substantial proportion of commercial property and engineering risks underwritten in the GCC are linked to government-backed initiatives," it said. Furthermore, these government-related contracts have often been highly profitable for the region’s insurers, providing strong levels of inward reinsurance commission from extensive reinsurance participation. Outside of the commercial risks segments, as economic activity increases, the demand for insurance protection (particularly in core classes such as motor and medical) will also likely increase, according to AM Best. On recovering financial markets, it said insurers in the region often carry higher-risk investment portfolios, holding a greater proportion of equity and real estate assets compared with developed market counterparts, in part as a long-term inflation hedge. This exposed balance sheets to heightened volatility in early 2020, when the GCC equity markets fell by as much as 30%, and fair-value losses were booked. "However, companies in the region were largely able to absorb these losses owing to the sufficient capital buffers in place. It said merger and acquisition (M&A) is becoming an increasing feature in the GCC insurance markets, which are" fragmented and competition is widespread." "Further consolidation could be seen as a tailwind for the GCC’s insurance markets, potentially improving market profitability by reducing pricing competition, driving operational efficiencies from economies of scale and providing inorganic growth opportunities," it said. However, extensive M&A activity at a level sufficient to alter the competitive landscape may only follow regulatory intervention, for example, from the imposition of increased minimum capital requirements.    

The uncertainly over the simmering Ukraine-Russia crisis had an overarching influence on the Gulf bourses, including the Qatar Stock Exchange, which lost sizeable 235 points in key index and QR11bn in capitalisation this week. The real estate and industrials counters witnessed higher selling pressure as the 20-stock Qatar Index tanked 1.73% this week, which otherwise saw global oil prices strengthen and the US Federal Reserve hike the reference benchmark rate by 0.25%. The domestic institutions increasingly squared off their position this week which Standard and Poor opine that Qatar could gain from Europe’s diversification from Russian gas. The Arab individuals were increasingly net profit takers this week which saw the Qatar Central Bank increase the repo rate, following the US Fed’s move. More than 57% of the traded constituents were in the red this week which saw Mesaieed Petrochemical Holding (MPHC) earmark QR1.5bn capital expenditure for 2022-26. The foreign individuals were also seen increasingly net sellers this week which saw the Qatar Financial Centre develop a sustainable sukuk and bonds framework, the first of its kind in the Gulf region. The Islamic index was seen declining faster than the other indices this week, which saw a total of 191,669 Doha Bank-sponsored exchange traded fund QETF valued at QR2.58mn change hands across 162 transactions. Nevertheless, the foreign funds were increasingly net buyers this week which saw as many as 79,372 Masraf Al Rayan-sponsored QATR worth QR234,577 trade across 15 deals. Market capitalisation was seen eroding 1.4% to QR757.89bn, mainly on large cap segments this week, which saw the industrials and banking sectors together constitute about 63% of the trade volume. The Total Return Index shrank 1.12%, All Share Index by 0.78% and All Islamic Index by 2.42% this week which nevertheless saw total trading volumes and value on the decline. The realty sector index plummeted 5.68%, industrials (2.64%), telecom (0.75%) and insurance (0.44%); while transport gained 1.22% and consumer goods and services (0.59%). The banks and financial services sector index was rather flat this week which saw Qatar’s core inflation rise faster than the general consumer price index this February. Major losers in the main market included Qatar First Bank, Barwa, MPHC, Qamco, Qatar Electricity and Water, Commercial Bank, Doha Bank, Qatari German Medical Devices, Doha Insurance, Qatar General Insurance and Reinsurance, Vodafone Qatar and United Development Company; while in the venture market, it was Mekdam Holding this week which saw no trading of sovereign bonds. Nevertheless, Inma Holding, Dlala, Al Khaleej Takaful, Qatar National Cement, QLM, QIIB, Masraf Al Rayan, Medicare Group, Qatari Investors Group and Nakilat were among the gainers in the main market; whereas Al Faleh Educational Holding saw its shares appreciate in value this week which saw no trading of treasury bills. In the main market, the industrials sector accounted for 36% of the total trade volume, banks and financial services (27%), consumer goods and services (17%), real estate (16%), telecom and transport (2% each), and insurance (1%) this week. In terms of value, the banks and financial sector’s share was 46%, industrials (33%), consumer goods and services (9%), realty (7%), and transport and telecom (2% each), and insurance (1%) this week. The domestic funds’ net selling increased substantially to QR872.72mn against QR477.92mn the week ended March 10. The Arab individuals’ net selling grew noticeably to QR11.2mn compared to QR6.84mn the previous week. The foreign individuals’ net profit booking expanded perceptibly to QR6.9mn against QR6.09mn a week ago. The Arab funds turned net sellers to the tune of QR0.18mn compared with net buyers of QR10.63mn the week ended March 10. However, the foreign funds’ net buying rose significantly to QR838.43mn against QR798.38mn the previous week. The Gulf institutions’ net buying increased markedly to QR421.86mn compared to QR353.9mn a week ago. The Gulf individuals were net buyers to the extent of QR2.8mn against net sellers of QR10.66mn the week ended March 10. Qatari individuals’ net profit booking declined drastically to QR372.09mn compared to QR661.32mn the previous week. Total trade volume in the main market fell 8% to 1.58bn shares and value by 5% to QR5.43bn, while transactions rose 9% to 98,884. The real estate sector’s trade volume soared 75% to 256.65mn equities, value by 47% to QR380mn and deals by 48% to 9,160. The banks and financial services sector reported 71% surge in trade volume to 439.11mn stocks, 37% in value to QR2.52bn and 46% in transactions to 44,797. However, the insurance sector’s trade volume plummeted 56% to 16.94mn shares and value by 48% to QR54.01mn, while deals shot up 22% to 1,314. The consumer goods and services sector saw 42% plunge in trade volume to 283.9mn equities, 24% in value to QR496.39mn and 21% in transactions to 8,443. There was 33% shrinkage in the telecom sector’s trade volume to 25.34mn stocks and 7% in value to QR91.28mn but on 13% growth in deals to 3,650. The industrials sector’s trade volume tanked 25% to 577.8mn shares, value by 33% to QR1.79bn and transactions by 19% to 28,594. The market witnessed 7% contraction in the transport sector’s trade volume to 24.58mn equities but on less than 1% jump in value to QR116.51mn despite 12% lower deals at 2,926. In the venture market, trade volumes declined 64.06% to 0.69mn stocks, value by 74.1% to QR5.24mn and transactions by 52.28% to 220.    

Growth prospects remain robust as the Gulf Cooperation Council (GCC) embraces rate hikes, following the US Fed's 0.25% hike in the key rate, according to Oxford Economics. "The GCC currency dollar pegs require regional central banks to move in tandem (although Kuwait has a bit more flexibility) and indeed regional central banks have already matched the latest rate rise," Oxford Economics said in the latest report. The combination of stronger growth – the GCC will be one of only two regions globally to grow faster in 2022 than in 2021 – and elevated inflation, means moderate tightening in the region seems timely, unlike during the previous cycle. "The resulting rise in financing costs should not pose an immediate risk to growth, but it may dampen the non-oil recovery beyond 2022 even though the region should continue to expand," it said. Oxford’s assessment, which ranks the GCC countries on ten metrics, shows Bahrain, Oman and, to some extent Qatar, may face some headwinds, with Saudi Arabia the least affected. "The rise in short-term rates will lift the cost of credit and reduce lending volumes to businesses and households, but the impact will probably only be felt in 2023," the report said, adding this will probably lead to softer spending, while also cooling regional housing markets. The ascent from historically low levels comes at an opportune time given high oil prices and improving financial positions, which underpin strong demand outlook in the near-term, but also against the backdrop of rising inflation. The underlying strength of the GCC economies implies higher rates are timely as the region braces for more inflation. Although dollar pegs have shielded the GCC region from rising import costs to some extent, the spike in energy and food prices (the two main drivers of price pressures over the past year) will result in a higher near-term peak as it feeds through to regional prices, Oxford Economics said. "We see upside risks to our current 2022 forecast for the GCC inflation of 2.7%, though we believe it should still fall back below 2% in 2023," Oxford Economics said. Crucially, interest rates will remain below 2019 levels into 2023 and they will settle below historical peaks, it said. Additionally, regional sovereign balance sheets are stronger today than they were entering the last tightening cycle, which should contain funding pressures for the regional borrowers. Fiscal deficits are turning into surpluses (except in Bahrain), reducing financing needs and facilitating rebuilding of forex reserves. And all GCC countries will run external surpluses (in double-digits as proportion of GDP except Bahrain and Oman), sustaining appetite for regional assets. "This supports our view that rate hikes should not cloud the growth outlook too much," the report said.    

Strengthened oil prices lifted the sentiments on the Qatar Stock Exchange, whose key index yesterday gained 118 points to inch near 13,400 levels and capitalisation expanded about QR7bn. The foreign and Gulf institutions were increasingly bullish as the 20-stock Qatar Index shot up 0.89% to 13,397.57 points, recovering from an intraday low of 13,283 points. The Islamic index outperformed the other indices in the market, whose year-to-date gains were at 15.24%. More than 67% of the traded constituents extended gains in the market, whose capitalisation saw 0.88% increase to QR757.89bn, mainly on the back of large and small cap segments. The industrials and consumer goods counters witnessed higher than average demand in the bourse, where the industrials and banking sectors together accounted for about 65% of the trading volume. Nevertheless, domestic funds and local retail investors were increasingly net sellers in the bourse, which saw a total of 89,480 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR636,439 changed hands across 55 deals. The Arab institutions’ net buying weakened marginally 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 1.07% to 27,335.4 points, the All Share Index by 0.89% to 4,290.59 points and the Al Rayan Islamic Index (Price) by 1.49% to 2,902.15 points. The industrials sector index zoomed 2.82%, consumer goods and services (2.34%), real estate (0.38%), telecom (0.16%), transport (0.14%) and banks and financial services (0.13%); while insurance declined 0.15%. Major gainers in the main market included Investment Holding Group, Zad Holding, Qatar Electricity and Water, Industries Qatar, Mesaieed Petrochemical Holding, Masraf Al Rayan, Dlala, Qatar Oman Investment, Salam International Investment, Woqod, Baladna, Al Meera, Qamco, QLM and Ezdan. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value. Nevertheless, Doha Insurance, Commercial Bank, Qatari German Medical Devices, Qatar Cinema and Film Distribution and Mazaya Qatar were among the losers in the main market. The foreign institutions’ net buying increased significantly to QR305.7mn against QR152.3mn on March 16. The Gulf institutions’ net buying increased substantially to QR117.67mn compared to QR54mn the previous day. However, the domestic funds’ net selling grew considerably to QR263.01mn against QR116.71mn on Wednesday. Qatari individuals’ net profit booking rose drastically to QR140.21mn compared to QR98.8mn on March 16. The Arab individuals turned net sellers to the tune of QR20mn against net buyers of QR8.84mn the previous day. The foreign individuals’ net selling strengthened marginally to QR1.24mn compared to QR1.15mn on Wednesday. The Gulf individuals’ net buying declined perceptibly to QR1.07mn against QR1.43mn on March 16. The Arab institutions’ net buying eased marginally to QR0.03mn compared to QR0.1mn the previous day. Total trade volume in the main market rose 28% to 355.02mn shares, value by 75% to QR1.53bn and transactions by 8% to 22,494. The transport sector’s trade volume more than doubled to 10.26mn equities and value almost tripled to QR48.99mn on 61% increase in deals to 885. There was a 54% surge in the insurance sector’s trade volume to 2.95mn stocks, 44% in value to QR8mn and 78% in transactions to 287. The banks and financial services sector’s trade volume soared 48% to 121.4mn shares and value more than doubled to QR8623.98mn on a 21% growth in deals to 12,040. The consumer goods and services sector’s trade volume shot up 48% to 66.36mn equities and value more than doubled to QR141.31mn on a 58% jump in transactions to 1,981. The market witnessed a 33% expansion in the telecom sector’s trade volume to 5.57mn stocks and 34% in value to QR22.19mn but on a 33% shrinkage in deals to 526. The real estate sector’s trade volume shot up 18% to 39.46mn shares and value by 19% to QR68.65mn, whereas transactions shank 44% to 1,188. The industrials sector reported a 2% gain in trade volume to 109.03mn equities and 24% in value to QR375.97mn but on an 8% dip in deals to 5,587. The venture market saw seven-fold growth in trade volumes to 0.21mn stocks and more than five-fold in value to QR1.41mn on more than quadrupled transactions to 79.    

Reflecting the global sentiments over the rising Covid-19 cases in China, the Qatar Stock Exchange Tuesday plunged 234 points and its key index settled below 13,300 levels and capitalisation eroded QR12bn. The foreign funds’ increased net buying notwithstanding, the 20-stock Qatar Index tanked 1.74% to 13,236.76 points, although it touched an intraday high of 13,464 points. The industrials and real estate counters witnessed higher than average selling pressure in the market, whose year-to-date gains were at 13.86%. The Islamic index was seen declining faster than the other indices in the market, whose capitalisation saw 1.62% decline to QR750.17bn, mainly on the back of large and midcap segments. The foreign individuals were seen net profit takers in the bourse, where the industrials and banking sectors together accounted for more than 71% of the trading volume. More than 76% of the traded constituents were in the red in the bourse, which saw a total of 15,250 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR45,040 changed hands across five deals. The Gulf institutions’ net buying weakened substantially 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 shrank 1.58% to 26,917.08points, Al Rayan Islamic Index (Price) by 2.26% to 2,860.87 points and All Share Index by 1.27% to 4,237.36 points. The industrials sector index tanked 3.62%, real estate (3.23%), consumer goods and services (0.67%), banks and financial services (0.42%), telecom (0.3%) and transport (0.23%); while insurance index gained 0.16%. Major losers in the main market included Qatar Electricity and Water, Dlala, Qamco, Mesaieed Petrochemical Holding, Barwa, Commercial Bank, Inma Holding, Qatari German Medical Devices, Al Meera, Baladna, Qatar National Cement, Industries Qatar, Aamal Company, Gulf International Services, QLM, Ezdan and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. Nevertheless, Qatar Cinema and Film Distribution, Qatar Industrial Manufacturing, Al Khaleej Takaful, Investment Holding Group and Widam Food were among the gainers in the main market. The foreign individuals turned net sellers to the tune of QR18.03mn compared with net buyers of QR3.16mn on March 14. The Gulf institutions’ net buying declined substantially to QR26.4mn against QR160.82mn the previous day. However, the foreign institutions’ net buying grew perceptibly to QR195.28mn compared to QR190.27mn on Monday. The Arab individuals turned net buyers to the tune of QR18.19mn against net sellers of QR23.43mn on March 14. The Arab funds were net buyers to the extent of QR0.27mn compared with no major net exposure the previous day. The Gulf individuals turned net buyers to the tune of QR0.09mn against net profit takers of QR0.61mn on Monday. The domestic funds’ net selling decreased markedly to QR200.77mn compared to QR226.01mn on March 14. Qatari individuals’ net profit booking weakened drastically to QR21.43mn against QR104.17mn the previous day. Total trade volume in the main market fell 39% to 220.47mn shares, value by 24% to QR913.51mn and transactions by 20% to 18,085. The real estate sector’s trade volume plummeted 71% to 25.33mn equities, value by 63% to QR42.35mn and deals by 55% to 1,231. There was 66% plunge in the insurance sector’s trade volume to 1.28mn stocks, 66% in value to QR4.49mn and 51% in transactions to 144. The banks and financial services sector’s trade volume tanked 42% to 54.65mn shares, value by 31% to QR403.27mn and deals by 22% to 7,865. The consumer goods and services sector reported 34% shrinkage in trade volume to 28.13mn equities, 47% in value to QR45.56mn and 38% in transactions to 1,116. The transport sector’s trade volume shrank 33% to 3.44mn stocks and value by 27% to QR17.36mn, whereas deals grew 10% to 638. The market witnessed 17% contraction in the industrials sector’s trade volume to 102.87mn shares but on 2% jump in value to QR375.22mn amidst 11% lower transactions at 5,738. However, the telecom sector’s trade volume was up 6% to 4.77mn equities and value by 72% to QR25.26mn on more than doubled deals to 1,353. The venture market reported 46.15% decline in trade volumes to 0.07mn stocks, 42.98% in value to QR0.65mn and 46.51% in transactions to 23.

The core inflation in Qatar's grew faster than the general consumer price index (CPI) inflation year-on-year in February 2022, according to the official statistics. The CPI of January 2022 excluding “housing, water, electricity, gas and other fuels, surged 4.82% year-on-year; while the general CPI inflation rose 3.99% in the review period, said the figures released by the Planning and Statistics Authority. Qatar's cost of living, based on CPI inflation, rose on a yearly basis this February mainly on higher expenses towards food, transport, recreation and clothing. A recent Qatar Economic Outlook suggested that Qatar is expected to see imported and domestic inflationary pressures due to the rise in prices of basic commodities in global markets caused by the bottlenecks in commodity supply chains as well as the negative repercussions of expansionary financial and monetary policies. On a monthly basis, the country's CPI inflation was down 0.26%; while core inflation fell 0.62% in February 2022. The index of recreation and culture, which has an 11.13% weight in the CPI basket, soared 22.16% year-on-year even as it shrank 3.37% month-on-month in February 2022. The food and beverages group, with a weight of 13.45% in the CPI basket, witnessed a 6.92% growth on a yearly basis but was down 0.34% on monthly basis in February 2022. The index of transport, which has a 14.59% weight, was seen shooting up 4.94% year-on-year but fell 0.98% on monthly basis this February. 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 February 2022, the retail price of super, premium gasoline and diesel witnessed a huge 55.35%, 41.38% and 41.38% surge year-on-year respectively. On a monthly basis, the price of super and diesel was flat but that of premium went up 2.5%. Miscellaneous goods and services, with a 5.65% weight, saw its index jump 3.33% and 0.49% year-on-year and month-on-month in February 2022. The index of clothing and footwear, which has a 5.58% weight in the CPI basket, was seen gaining 3.32% and 0.23% on yearly and monthly basis respectively in February 2022. Communication, which carries a 5.23% weight, saw its group index rise 0.31% year-on-year but was unchanged month-on-month respectively in the review period. Education, with a 5.78% weight, saw its index jump 0.48%on a yearly basis but was unchanged month-on-month this February. In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index grew 0.41% and 0.01% year-on-year and month-on-month respectively in January this year. The index of health, which has a 2.65% weight, plunged 3.09% on a yearly basis although it was flat month-on-month in February 2022. The restaurants and hotels group, with a 6.61% weight, tanked 2.45% year-on-year but was up 0.19% on a monthly basis this February. The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 0.55% and 1.36% surge on yearly and monthly basis respectively this February. The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.