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Qatar has seen a more than five-fold year-on-year surge in visitor arrivals with those coming from other Asia, including Oceania, and Europe constituting 61% of the total in February 2022, according to official estimates. The surge in overall visitor arrivals was also reflected in the hospitality sector, particularly in the occupancy in five-star hotels and standard hotel apartments, during the period in review, the figures released by the Planning and Statistics Authority showed. The total number of visitor arrivals was 76,883 in February 2022, which however declined 10.7% month-on-month. Of the total, as much as 61% (46,718) came via the airport; 22% (16,745) through sea and 17% (13,420) by road during the review period. Visitor arrivals from other Asia (including Oceania) stood at 26,591 in February 2022, registering more than three-fold growth year-on-year. On a monthly basis, it fell 30.1%. The visitors from this region accounted for 35% of the total arrivals in February 2022. Visitor arrivals from European countries grew approximately six-fold year-on-year to 20,035 in February 2022. It saw an 8% growth month-on-month. The visitors from this region accounted for 26% of the total during the review period. The number of visitors from the Gulf Co-operation Council countries was 18,610 in February 2022, witnessing a 10-fold growth year-on-year. The visitor numbers was a 6.8% fall month-on-month in the review period. Visitors from the Gulf region accounted for 24% of the total in the review period. The visitor arrivals measures non-residents travelling to Qatar on a short-term basis for all purposes. It includes arrivals at borders under different 15 visa classes, including all businesses and leisure visa types (excluding work visas). Visitor arrivals from the other Arab countries had seen a seven-fold growth year-on-year to 5,569 in February 2022. It had seen a 19.8% expansion month-on-month. Visitors from this region constituted 7% of the total visitor arrivals this February. Visitor arrivals from the Americas stood at 4,481 in February 2022, which represented a 11-fold surge on a yearly basis. It saw a 23.5% rise month-on-month. Visitors from the Americas accounted for 6% of the total during the review period. Visitor arrivals from other African countries grew about 20-fold year-on-year to 1,597 people in February 2022. On a monthly basis, it soared 23.1%. Visitors from this region accounted for 2% of the total in the review period. The PSA data found that the hotel and hotel apartments showed a robust performance in February 2022 with the overall occupancy rate at 62% compared to 56% in February 2021. In the five-star category, the occupancy was 61% (49% during February 2021), four-star 64% (66%), three-star 82% (96%), and two and one star 78% (97%). In the case of deluxe hotel apartments, the occupancy was 58% compared to 53% in the previous year period and standard hotel apartments 64% (83%). Visitor arrivals from European countries grew approximately six-fold year-on-year to 20,035 in February 2022 The number of visitors from the GCC countries was 18,610 in February 2022, witnessing a 10-fold growth year-on-year. Visitor arrivals from the Americas stood at 4,481 in February 2022, which represented a 11-fold surge on a yearly basis.    

Qatar Islamic Bank (QIB) Group has completed legal procedures regarding raising the foreign ownership limit up to 100%. "Pursuant to QIB shareholders’ extraordinary general assembly meeting approval to modify QIB’s Articles of Association in the extraordinary general meeting held on February 22, 2022, QIB announces obtaining all required regulatory approvals from the regulatory authorities concerned, to modify Article (9) of the Articles of Association, to allow raising the foreign ownership limit (up) to 100%," the bank said in a communique to the Qatar Stock Exchange. QIB would request the authorities concerned to raise the limit of foreign ownership with immediate effect. The cabinet meeting, chaired by the Prime Minister HE Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani, had last year given approval to four banks, including QIB, to enhancing the FOL up to 100%. These four banks (QIB, QNB, Commercial Bank and Masraf Al Rayan) together constitute more than 43% of the total market capitalisation as on August 24, 2021. QIB net earnings of QR3.56bn constituted 15.27% of the total net profit of the listed banks during the year ended 2021. The banking sector, as such, contributed 53.85% to the total net profits of the listed companies during January-December 2021. The decision (to allow up to 100% FOL) is expected to enhance the country’s economic activity and attract overseas funds in efforts to diversify the economy, the QSE had said, adding it will help attract more investments in the banking sector, which is already robust and profitable. Qatari banks ranked first in the Arab world in terms of profit indicators, according to the Arab Monetary Fund. Market sources also said higher FOL would ensure higher weights in the emerging markets of the global indices, which in turn, means new money from international funds to match the new weight. The indices calculate the weight of each company based on percentage ownership available to investors (local, regional and international). Qatari banks continued to have the highest average return on equity (ROE) among the lenders in the Gulf Co-operation Council (GCC) at the end of fourth quarter of 2021, according to Kamco Invest.    

The Qatar Stock Exchange on Thursday surpassed the psychological mark of 14,000 points, mainly on the back of strong buying in the banking and financial services sector. The domestic funds were seen bullish as the 20-stock Qatar Index gained more than 213 points or 1.54% to 14,089.47, although it touched an intraday high of 14,150 points, tracking the strong world oil prices. More than 55% of the traded constituents saw their shares appreciate in value in the market, whose year-to-date gains improved to 21.19%. The weakened net selling pressure of local retail investors had considerable influence in the bourse, whose capitalisation saw a 1.68% jump to QR789.65bn, mainly on the back of small and midcap segments. The Islamic index was seen gaining slower than the other indices in the market, where the industrials and consumer goods sectors together accounted for about 59% of the trading volume. The foreign institutions continued to be net buyers but with lesser intensity in the market, which saw a total of 133,175 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.63mn changed hands across 33 deals. Both Arab and the Gulf retail investors were increasingly net profit takers in the bourse, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the decline in the market, which saw no trading of treasury bills. The Total Return Index gained 1.54% to 28,747.09 points, the All Share Index by 1.71% to 4,505.48 points and the Al Rayan Islamic Index (Price) by 0.83% to 2,997.55 points. The banks and financial services sector index zoomed 2.58%, industrials (1.31%), insurance (1.09%) and real estate (0.22%); while transport declined 1.24%, consumer goods and services (0.14%) and telecom (0.02%). Major gainers in the main market included Dlala, QIIB, Qatar General Insurance and Reinsurance, Commercial Bank, Doha Bank, Masraf Al Rayan, Mannai Corporation, Baladna, Industries Qatar, Aamal Company, Investment Holding Group and Qamco. Nevertheless, Al Khaleej Takaful, Nakilat, Qatar Industrial Manufacturing, Woqod, Widam Food, Inma Holding and Gulf International Services 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 domestic funds turned net buyers to the tune of QR29.8mn compared with net sellers of QR173.05mn on April 6. The Arab institutions were net buyers to the extent of QR0.14mn against no major net exposure the previous day. Qatari individuals’ net profit booking shrank drastically to QR19.25mn compared to QR135.71mn on Wednesday. However, the Arab individuals’ net selling increased considerably to QR22.71mn against QR11.32mn on April 6. The Gulf funds turned net sellers to the tune of QR11.48mn compared with net buyers of QR56.53mn the previous day. The foreign individuals’ net profit booking strengthened perceptibly to QR7.81mn against QR6.6mn on Wednesday. The Gulf individuals’ net selling shot up markedly to QR6.17mn compared to QR1.19mn on April 6. The foreign institutions’ net buying weakened substantially to QR37.46mn against QR271.34mn the previous day. Total trade volume in the main market fell 26% to 365.13mn shares, value by 26% to QR1.17bn and transactions by 27% to 24,947. The telecom sector’s trade volume plummeted 65% to 2.87mn equities, value by 75% to QR7.54mn and deals by 63% to 388. The transport sector reported a 51% plunge in trade volume to 6.06mn stocks, value by 40% to QR31.64mn and transactions by 57% to 554. The consumer goods and services sector’s trade volume tanked 37% to 108.85mn shares, value by 40% to QR187.57mn and deals by 37% to 2,467. There was a 23% shrinkage in the industrials sector’s trade volume to 106.42mn equities, 23% in value to QR315.13mn and 11% in transactions to 6,394. The insurance sector’s trade volume shrank 17% to 8.01mn stocks, value by 23% to QR21.42mn and deals by 54% to 435. The banks and financial services sector saw a 15% contraction in trade volume to 92.5mn shares, 19% in value to QR555.7mn and 26% in transactions to 13,369. The real estate sector’s trade volume was down 9% to 40.42mn equities, value by 27% to QR50.95mn and deals by 23% to 1,340. The venture market registered 55% dip in trade volumes to 0.09mn stocks, 50.81% in value to QR0.61mn and 63.53% in transactions to 31.    

The Qatar Stock Exchange on Wednesday gained more than 206 points and its key index inched towards 13,900 levels, mainly on strong buying in the banking and financial services sector. Foreign funds were increasingly bullish as the 20-stock Qatar Index zoomed 1.51% to 13,875.92 points, recovering from an intraday low of 13,690 points. About 49% of the traded constituents saw their shares appreciate in value in the market, whose year-to-date gains were at 19.35%. The Gulf institutions were also increasingly net buyers in the bourse, whose capitalisation saw a 1.15% jump to QR776.61bn, mainly on the back of midcap segments. The Islamic index was seen gaining slower than the other indices in the market, where the industrials and consumer goods sectors together accounted for about 63% of the trading volume. However, the domestic funds were increasingly net sellers in the market, which saw a total of 329,880 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR4.55mn changed hands across 88 deals. The local retail investors 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 1.51% to 28,311.38 points, the All Share Index by 1.39% to 4,429.55 points and the Al Rayan Islamic Index (Price) by 0.97% to 2,973.01 points. The banks and financial services sector index soared 2.38%, consumer goods and services (1.03%), real estate (0.33%0, transport (0.2%) and industrials (0.08%); whereas insurance and telecom declined 0.96% and 0.09% respectively. Major gainers in the main market included Investment Holding Group, Qatar Oman Investment, Qatar Islamic Bank, Masraf Al Rayan, Baladna, QNB, Commercial Bank, Doha Bank, QIIB, Woqod, Qatari Investors Group, Aamal Company, Qamco and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value. Nevertheless, Qatar Islamic Insurance, Dlala, Salam International Investment, Ahlibank Qatar, Al Khaleej Takaful, Widam Food, Qatar Insurance, Industries Qatar and Milaha were among the losers in the main market. In the juniour bourse, Mekdam Holding saw its equities depreciate in value. The foreign institutions’ net buying increased substantially to QR271.34mn compared to QR109.81mn on Tuesday. The Gulf funds’ net buying strengthened considerably to QR56.53mn against QR10.81mn on April 5. However, the domestic funds’ net selling grew significantly to QR173.05mn compared to QR92.95mn the previous day. Qatari individuals’ net profit booking rose drastically to QR135.71mn against QR41.17mn on Tuesday. The Arab individuals turned net sellers to the tune of QR11.32mn compared with net buyers of QR15.89mn on April 5. The foreign individuals’ net profit booking shot up perceptibly to QR6.6mn against QR4.05mn the previous day. The Gulf individuals were net sellers to the extent of QR1.19mn compared with net buyers of QR0.33mn on Tuesday. The Arab institutions had no major net exposure against net buyers to the tune of QR1.31mn on April 5. Total trade volume in the main market rose 51% to 493.14mn shares and value more than doubled to QR1.58bn on more-than-doubled transactions to 34,195. The insurance sector’s trade volume more than quadrupled to 9.69mn equities and value also more than quadrupled to QR27.82mn on more-than-tripled deals to 953. The banks and financial services sector’s trade volume more than doubled to 108.5mn stocks and value almost tripled to QR683.81mn on more-than-tripled transactions to 18,107. The industrials sector’s trade volume more than doubled to 137.49mn shares and value also more than doubled to QR408.27mn on more-than- doubled deals to 7,147. The transport sector reported an 86% surge in trade volume to 12.33mn equities and 76% in value to QR52.45mn on almost-tripled transactions to 1,283. The telecom sector’s trade volume shot up 11% to 8.13mn stocks, value by 78% to QR29.85mn and deals by 61% to 1,036. The consumer goods and services sector saw an 8% gain in trade volume to 172.33mn shares, 26% in value to QR310.7mn and 34% in transactions to 3,929. However, the real estate sector’s trade volume was down 7% to 44.61mn equities, whereas value grew less than 1% to QR69.96mn and deals by 7% to 1,740. The venture market registered a 33.33% shrinkage in trade volumes to 0.2mn stocks, 48.55% in value to QR1.24mn and 39.72% in transactions to 85.    

The Group Securities and QNB Financial Services together accounted for more than 68% of the share trade turnover of the brokerages in the Qatar Stock Exchange (QSE) during the first quarter (Q1) of 2022. The banks’ brokerage subsidiaries' share in the overall trade turnover expanded in the QSE during Q1, 2022. The Group Securities’ share stood at 40.4% in January-March 2022 compared to 42.42% the previous year period. Its trading turnover surged 62.49% year-on-year to QR40.25bn during Q1-22. The transactions and volumes through it expanded 29.5% and 14.31% to 796,187 and 17.97mn equities at the end of March 31, 2022. The QNB subsidiary QNBFS' trade turnover amounted to QR28.33bn, which constituted 28.44% of the total traded value during January-March 2022 against 23.65% a year-ago period. The turnover more than doubled year-on-year as volumes zoomed 33.01% to 4.11mn stocks on more than doubled transactions to 675,275 in the review period. CBQIS, the stock broking arm of Commercial Bank, accounted for 11.54% of trade turnover compared to 9.7% during Q1-22. The brokerage house's trade turnover more than doubled year-on-year to QR11.5bn as volumes shot up 88.97% to 2.74mn shares and deals by 38.65% to 212,000 in the review period. The CBQIS last year launched its margin trading product, becoming the first bank brokerage subsidiary in Qatar to launch such a product. The Qatar Financial Market Authority had approved the Group Securities and CBQIS as liquidity providers, while saying other licenses are on the pipeline. In May 2013, the financial market regulator had approved the liquidity provision scheme that can be carried out by the financial services firms. Qatar Securities accounted for 8.43% of trade turnover during January-March 2022 compared to 9.01% the previous year period. The brokerage's trading turnover grew 59.39% year-on-year to QR8.4bn although volumes through it were down 0.68% to 1.46mn equities despite 60.78% higher transactions at 135,575 at the end of March 2022. Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 4.22% of trade turnover (QR4.2bn), which declined 8.5% year-on-year during Q1-2022. The brokerage’s share was 7.86% the previous year period. The deals through it rose 7.45% on a yearly basis to 70,690 despite 42.06% shrinkage in volumes to 1.35mn stocks at the end of March 31, 2022. Wasata Financial Securities' share was 4.69% of trading turnover during January-March compared to 2.25% in the comparable period of 2021. Its trade turnover more than tripled year-on-year to QR4.68bn as volumes more than doubled to 1.5mn shares and transactions also more than doubled to 63,120 at the end of March 31, 2022. Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover expanded 53.02% year-on-year to QR2.28bn, cornering a market share of 2.29% during January- March 2022 compared to 2.55% a year ago period. The volumes handled by the banking subsidiary were down 4.76% to 0.4mn equities even as deals through it grew 16.49% to 32,213 during the review period.    

Strong buying, especially in the industrials, real estate and consumer goods counters, yesterday lifted the Qatar Stock Exchange more than 106 points and its key index inched towards 13,700 levels. The Arab individuals were seen bullish as the 20-stock Qatar Index gained 0.78% to 13,669.89 points, recovering from an intraday low of 13,554 points. About 69% of the traded constituents saw their shares appreciate in value in the market, whose year-to-date gains were at 17.58%. The domestic institution’ weakened net selling had its considerable influence in the bourse, whose capitalisation saw about QR3bn or 0.39% increase to QR764.83bn, mainly on the back of small cap segments. The Islamic index was seen gaining faster than the other indices in the market, where the industrials and consumer goods sectors together accounted for about 67% of the trading volume. The Gulf individuals were increasingly net buyers, albeit at lower levels, in the market, which saw a total of 31,500 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR372,061 changed hands across 11 deals. The foreign individuals’ net selling weakened 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 0.78% to 27,891.02 points, the All Share Index by 0.49% to 4,368.71 points and the Al Rayan Islamic Index (Price) by 1.05% to 2,944.36 points. The industrials sector index shot up 1.16%, real estate (1.07%), consumer goods and services (0.87%), telecom (0.37%) and banks and financial services (0.35%); while insurance and transport declined 1/76% and 0.42% respectively. Major gainers in the main market included Baladna, Qatar Islamic Bank, Industries Qatar, Gulf International Services, Aamal Company, Ahlibank Qatar, Masraf Al Rayan, Inma Holding, Qamco, Barwa, Mazaya Qatar, Vodafone Qatar and Gulf Warehousing. Nevertheless, Qatar Insurance, Mannai Corporation, Al Khaleej Takaful, Nakilat and QNB were among the losers in the main market. In venture market, Mekdam Holding saw its shares depreciate in value. The Arab individuals turned net buyers to the tune of QR15.89mn compared with net sellers of QR5.52mn on April 4. The Gulf individuals’ net buying increased marginally to QR0.33mn against QR0.29mn the previous day. The domestic funds’ net selling decreased considerably to QR92.95mn compared to QR172.65mn on Monday. The foreign individuals’ net profit booking eased perceptibly to QR4.05mn against QR5.23mn on April 4. However, Qatari individuals’ net selling rose substantially to QR41.17mn compared to QR1.7mn the previous day. The foreign institutions’ net buying declined considerably to QR109.81mn against QR169.07mn on Monday. The Gulf funds’ net buying weakened noticeably to QR10.81mn compared to QR11.92mn on April 4. The Arab institutions’ net buying shrank noticeably to QR1.31mn against QR3.82mn the previous day. Total trade volume in the main market rose 22% to 327.35mn shares and value by 6% to QR771.96mn, while transactions declined 16% to 14,832. The telecom sector’s trade volume soared 64% to 7.33mn equities, value by 18% to QR16.76mn and deals by 10% to 644. The consumer goods and services sector saw 63% surge in trade volume to 159.46mn stocks, 50% in value to QR245.94mn and 21% in transactions to 2,928. The transport sector’s trade volume zoomed 37% to 6.63mn shares and value by 18% to QR29.84mn; whereas deals shrank 38% to 447. The industrials sector reported 28% expansion in trade volume to 58.42mn equities and value by 12% to QR164.01mn but on 18% shrinkage in transactions to 3,098. However, the insurance sector’s trade volume plummeted 65% to 2.14mn stocks, value by 62% to QR6.77mn and deals by 50% to 255. The market witnessed 20% plunge in the real estate sector’s trade volume to 48.12mn shares, 13% in value to QR69.79mn and 2% in transactions to 1,624. The banks and financial services sector’s trade volume was down 6% to 45.25mn equities, value by 16% to QR238.85mn and deals by 28% to 5,836. The venture market registered 7.14% growth in trade volumes to 0.3mn stocks, 18.72% in value to QR2.41mn and 6.82% in transactions to 141.    

Strong demand – especially for the private vehicles, motorcycles and trailers – helped Qatar's automobile sector post a double-digit growth in new registrations this February, according to the latest official statistics. The new vehicle registration stood at 6,900; representing a 34.2% increase on a yearly basis but fell 13.6% month-on-month in the review period basis, said the data released by the Planning and Statistics Authority (PSA). The registration of new private vehicles stood at 4,352, registering a 28% and 1.9% growth year-on-year and month-on-month respectively in February 2022. Such vehicles constituted more than 63% of the total new vehicles registered in the country in the review period. The registration of new private transport vehicles stood at 1,269; which showed a 21.6% expansion on a yearly basis but shrank 26% on a monthly basis. Such vehicles constituted more than 18% of the total new vehicles in February 2022. According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari stood at QR0.95bn and QR0.2bn, which declined 26.92% and 16.67% respectively on a yearly basis in the review period. Personal loans to Qataris reported a 78.87% surge year-on-year to QR87.77bn and those to non-Qataris by 6.93% to QR8.79bn in the review period. The overall consumption credit to nationals grew 6.04% year-on-year to QR149.38bn and that to non-Qataris by 8.54% to QR11.95bn in February 2022. The registration of new private motorcycles almost tripled on a yearly basis to 1,010 units but fell 31.2% month-on-month. These constituted about 15% of the total new vehicles in February 2022. The registration of trailers stood at 64 units, which witnessed 137% and 52.4% surge year-on-year and month-on-month respectively in the review period. The registration of new heavy equipment stood at 193, which constituted about 3% of the total registration in the review period. Their registrations had seen 18.2% and 13.8% decline on yearly and monthly basis respectively. The new registration of other non-specified vehicles stood at 12 units, which plummeted 81.3% and 95.5% year-on-year and month-on-month. The renewal of registration was reported in 67,665 units, which saw an 8% growth year-on-year but fell 9.5% month-on-month this February. The transfer of ownership was reported in 30,392 vehicles in February 2022, which saw a 12.3% expansion on a yearly basis but was down 0.9% month-on-month. The re-registration of vehicles saw a 28.3% jump year-on-year to 127 units. On a monthly basis, it saw 22.1% shrinkage in the review period. The modified vehicles’ registration stood at 4,101, which saw a 23.2% surge on a yearly basis but fell 8.7% month-on-month in February 2022. The cancelled vehicles stood at 2,525 units, which shot up 61.3% year-on-year but declined 4% month-on-month in the review period. The number of lost/damaged vehicles stood at 8,462 units, which dipped 8.9% and 12.4% yearly and monthly basis respectively in February 2022. The number of vehicles meant for exports stood at 1,741 units, which zoomed 20.1% and 0.3% year-on-year and month-on-month this February. The clearing of vehicle-related processes stood at 121,890 units, which expanded 10.3% on a yearly basis but was down 7.6% on a monthly basis in the review period.    

The foreign institutions' increased net buying interests yesterday lifted the Qatar Stock Exchange by more than 50 points. Higher than average demand, especially in the insurance and realty counters, led the 20-stock Qatar Index to gain 0.37% to 13,563.87 points, recovering from an intraday low of 13,517 points. About 58% of the traded constituents extended gains to investors in the market, whose year-to-date gains were at 16.67%. The Gulf funds were increasingly net buyers in the bourse, whose capitalisation saw 0.72% increase to QR764.83bn, mainly on the back of midcap segments. The Islamic index was seen gaining slower than the other indices in the bourse, where the consumer goods and real estate sectors together accounted for more than 59% of the trading volume. The Arab institutions were increasingly net buyers in the market, which saw a total of 69,026 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR685,143 changed hands across 23 deals. The Gulf individuals were seen increasingly bullish 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 0.37% to 27,674.7 points, the All Share Index by 0.52% to 4,347.51 points and the Al Rayan Islamic Index (Price) by 0.3% to 2,913.64 points. The insurance sector index shot up 2.74%, real estate (1.67%), consumer goods and services (0.61%), transport (0.56%), banks and financial services (0.52%) and industrials (0.1%); while telecom declined 0.4%. Major gainers in the main market included Dlala, Ezdan, Baladna, QLM, Qatar Insurance, QNB, Alijarah Holding, Salam International Investment, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Barwa, Mazaya Qatar and Nakilat. Nevertheless, Mannai Corporation, Aamal Company, Gulf International Services, Al Meera and Doha Bank were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value. The foreign institutions’ net buying increased substantially to QR169.07mn against QR64.44mn on April 3. The Gulf funds’ net buying grew noticeably to QR11.92mn compared to QR7.91mn the previous day. The Arab institutions’ net buying strengthened perceptibly to QR3.82mn against QR1.5mn on Sunday. The Gulf individuals’ net buying rose marginally to QR0.29mn compared to QR0.23mn on April 3. Qatari individuals’ net profit booking eased substantially to QR1.7mn against QR18.43mn the previous day. The foreign individuals’ net selling shrank markedly to QR5.23mn compared to QR11.96mn on Sunday. However, the domestic funds’ net selling zoomed considerably to QR172.65mn against QR52.85mn on April 3. The Arab individuals were net sellers to the extent of QR5.52mn compared with net buyers of QR9.16mn the previous day. Total trade volume in the main market more than doubled to 267.25mn shares and value also more than doubled to QR731.01mn on an 82% increase in transactions to 17,743. The banks and financial services sector’s trade volume more than tripled to 48.02mn equities and value soared 49% to QR283.01mn on almost-doubled-deals to 8,063. The consumer goods and services sector’s trade volume more than tripled to 97.68mn stocks and value more than doubled to QR163.65mn on an 80% jump in transactions to 2,427. The insurance sector’s trade volume more than tripled to 6.19mn shares and value more than tripled to QR17.75mn on a 9% growth in deals to 512. The real estate sector’s trade volume almost tripled to 60.43mn equities and value more than tripled to QR80.21mn on a 67% expansion in transactions to 1,663. The transport sector’s trade volume more than doubled to 4.84mn stocks and value zoomed 88% to QR25.19mn on more-than-doubled deals to 723. There was a 39% surge in the telecom sector’s trade volume to 4.47mn shares, 76% in value to QR14.18mn and 47% in transactions to 583. The industrials sector’s trade volume grew 22% to 45.63mn equities, value by 34% to QR147.01mn and deals by 76% to 3,772. The venture market reported a 48.15% shrinkage in trade volumes to 0.28mn stocks, 54.59% in value to QR2.03mn and 32.65% in transactions to 132.    

The Qatar Stock Exchange Sunday opened the week weak and its key index lost 20 points despite strong buying in the real estate, consumer goods and insurance counters. Foreign individuals were seen bearish as the 20-stock Qatar Index settled 0.14% lower at 13,513.56 points, although it touched an intraday high of 13,604 points. More than 54% of the traded constituents were in the red in the market, whose year-to-date gains were at 16.24%. The foreign institution continued to be net sellers but with lesser vigour in the bourse, whose capitalisation saw more than QR1bn or 0.19% decline to QR759.35bn, mainly on the back of microcap segments. The Islamic index was seen declining faster than the other indices in the bourse, where the industrials and consumer goods sectors together accounted for about 62% of the trading volume. The Gulf institutions continued to be net buyers but with lesser intensity in the market, which saw a total of 91,245 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.12mn changed hands across 25 deals. The Arab individuals were seen increasingly bullish in the bourse, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the decline in the market, which saw no trading of treasury bills. The Total Return Index shrank 0.14% to 27,572.06 points, All Share Index by 0.16% to 4,325.11 points and Al Rayan Islamic Index (Price) by 0.19% to 2,905.07 points. The industrials sector index shrank 0.64%, transport (0.49%), banks and financial services (0.11%) and telecom (0.06%); while realty gained 0.79%, consumer goods and services (0.62%) and insurance (0.26%). Major losers in the main market included Gulf International Services, Doha Insurance, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Doha Bank, Industries Qatar, Medicare Group, QLM and Milaha. Nevertheless, Mannai Corporation, Qatar Islamic Insurance, Baladna, Qatar Industrial Manufacturing, Commercial Bank, Barwa and United Development Company were among the gainers in the main market. In the venture market, Mekdam Holding saw its shares appreciate in value. The foreign individuals turned net sellers to the tune of QR11.96mn compared with net buyers of QR3.7mn on March 31. The foreign institutions’ net buying declined substantially to QR64.44mn against QR117.7mn last Thursday. The Gulf funds’ net buying fell noticeably to QR7.91mn compared to QR19.34mn the previous trading day. However, the Arab individuals’ net buying grew markedly to QR9.16mn against QR3.61mn on March 31. The Arab institutions were seen net buyers to the extent of QR1.5mn compared with no major net exposure last Thursday. The Gulf individuals turned net buyers to the tune of QR0.23mn against net sellers of QR2.1mn the previous trading day. The domestic funds’ net selling decreased considerably to QR52.85mn compared to QR89.33mn on March 31. Qatari individuals’ net profit booking eased substantially to QR18.43mn against QR52.98mn last Thursday. Total trade volume in the main market fell 47% to 110.09mn shares, value by 56% to QR351.43mn and transactions by 52% to 9,751. The transport sector’s trade volume plummeted 80% to 1.94mn equities, value by 82% to QR13.4mn and deals by 81% to 339. The market witnessed 76% plunge in the insurance sector’s trade volume to 2.05mn stocks, 81% in value to QR5.72mn and 47% in transactions to 468. The telecom sector’s trade volume tanked 68% to 3.21mn shares, value by 70% to QR8.04mn and deals by 68% to 397. There was 58% contraction in the banks and financial services sector’s trade volume to 14.69mn equities, 61% in value to QR110.11mn and 38% in transactions to 4,059. The real estate sector’s trade volume shrank 52% to 20.3mn stocks, value by 59% to QR25.91mn and deals by 50% to 994. The industrials sector saw 41% shrinkage in trade volume to 37.4mn shares, 59% in value to QR109.86mn and 61% in transactions to 2,145. The consumer goods and services sector’s trade volume was down 20% to 30.51mn equities, value by 24% to QR78.37mn and deals by 45% to 1,349. In the venture market, trade volumes were seen expanding 63.64% to 0.54mn stocks, value by 71.26% to QR4.47mn and transactions by 22.5% to 196.    

Qatar's maritime sector saw a buoyant year-on-year expansion in general cargo and building materials during March 2022, according to Mwani Qatar. The general cargo handled through Hamad, Doha and Al Ruwais ports stood at 149,520 tonnes in March 2022, which showed 11.32% and 19.28% growth year-on-year and month-on-month respectively. Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO, grains and livestock – handled 58,895 freight tonnes of break-bulk and 85,125 freight tonnes of bulk in March this year. On a cumulative basis, the general cargo movement through the three ports totalled 476,612 tonnes in the first quarter (Q1) of this year. The number of ships calling on Qatar's three ports stood at 216 in March 2022, which was 13.6% lower on yearly basis but was up 1.41% month-on-month. As many as 657 ships called on the ports in January-March this year, a 12.05% decline year-on-year. 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 121 ships call on the port. The building materials handled amounted to 64,651 tonnes in March this year, which grew 32.15% and 38.63% respectively on yearly and monthly basis respectively in the review period. A total of 161,592 tonnes of building materials had been handled by these three ports in Q1. The container handling through the country's Hamad, Doha and Al Ruwais ports stood at 124,313 TEUs (twenty-foot equivalent units), which however declined 9.75% on a yearly basis, but posted a 9.09% jump month-on-month in March 2022. The container handling stood at 356,443 TEUs in the first three months of this year. The 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 122,944 TEUs of containers handled this March. In March, Hamad Port welcomed the maiden call of MV APL Raffles, the largest container vessel with a capacity of 17,300 TEUs and 398m, to ever call on the port since the start of operations. The three ports handled 6,061 vehicles (RORO) in March 2022, which fell 9.12% year-on-year but surged 21.41% month-on-month. They together handled 16,786 vehicles in January-March. Hamad Port alone handled 6,043 units in March this year. The three ports had handled 9,654 livestock in March, which plunged 62.34% and 42.88 on yearly and monthly basis respectively. Together they handled 57,730 heads during January-March this year.    

Qatari banks continued to have the highest average return on equity (ROE) among the lenders in the Gulf Co-operation Council (GCC) at the end of fourth quarter (Q4) of 2021, according to Kamco Invest. Doha's banking sector saw a ROE of 12% at the end of Q4-2021, which was higher than the GCC average of 10%, Kamco Invest said in a report. In the case of Saudi Arabian lenders, the ROE stood at 11.1%, the UAE 10.3%, 8.4% in Bahrain, 8.2% in Kuwait and 6.9% in Oman. Revenue growth was broad-based across the GCC with Qatari banks reporting the biggest growth of 9.9% followed by the UAE and Kuwaiti banks revenue growth of 9% and 7.1%, respectively, the report said. Net profit for the GCC banking sector increased by 40% year-on-year to $35bn in 2021, it said, highlighting that the growth in profits during the year was led by an increase in total bank revenue as well as a decline in loan loss provisions (LLP). In terms of quarterly trend, LLP increased by 17.6% quarter-on-quarter but fell by 39.2% year-on-year to $3.8bn during Q4-2021. The quarterly growth was mainly led by an 85.6% increase in provisions booked by Qatari banks along with marginal growth in Saudi and Bahraini banks. The overall growth was partially offset by $0.1bn and $0.2bn quarter-on-quarter drop in provisions booked by Kuwaiti and UAE-listed banks during Q4-2021. The report said NIMs (net interest margins) remained stable at a multi-quarter low level of 2.8% at the end of 2021, reflecting the full year impact of low interest rates as well as normal economic activity for most part of the year in the GCC. In addition, a smaller growth in net interest income vs earning assets kept a cap on net interest margin growth during Q4-2021. In terms of country-specific trends, NIMs declined quarter-on-quarter in four out of six GCC countries during Q4-2021. Kuwait reported the biggest drop of 0.06% to report a net interest margin of 2.62% followed by 5 basis points decline in the case of Saudi Arabia. However, NIM continued to remain the highest in the case of Saudi Arabian banks at 3.2% during Q4-2021 and it was the only market in the GCC to report NIM of over 3% in the GCC. Kamco Invest said the aggregate provision cover made by the GCC banks against Stage 3 bad loans stood at 67.5% at the end of Q4-2021. The provision cover has increased consistently since last year when it stood at 63.3% at the end of Q4-2020. Qatari banks had the highest cover against Stage 3 bad loans during the quarter at 91.9% against the GCC average of 67.5%. However, Qatar's Q4 levels was higher than Q4-2020 cover of 88.4% but significantly lower than Q3-2021 cover of 94.3% after five out of eight listed banks reported a jump in Stage 3 provisions during Q4-2021. In the case of Bahrain banks, the provision cover against Stage 3 bad loans was 72%, Oman (66.5%), the UAE (62.5%), Saudi Arabia (61.3%) and Kuwait (59.7%). Total absolute increase in bad loans amounted to $383mn during the quarter as against provisions increase of $139.8mn for Qatari banks. Bahraini banks were next at 72% followed by Omani and the UAE-listed banks at 66.5% and 62.5%, respectively. Kuwaiti banks reported the lowest Stage 3 provision cover of 59.7%.    

The Qatar Stock Exchange witnessed buying interests in four of the seven sectors, yet it closed negative this week, reflecting the weakened global oil benchmark. The foreign and Gulf institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index fell more than 98 points or 0.72% this week which saw the listed companies report more than 41% year-on-year in net earnings to QR43.29bn during 2021. The local retail investors were increasingly into net profit booking this week which saw Aamal Company find “significant” boost for the corporate sector from the 2022 FIFA World Cup. The Gulf individuals were seen net profit takers this week which saw Qatar Electricity and Water Company’s subsidiary Nebras Power announce its 100% owned arm to build and operate a combined cycle gas thermal power plant in Uzbekistan. More than 58% of the traded constituents were in the red this week which saw Capital Intelligence affirm QIIB’s rating at ‘A’ with stable outlook. The Islamic index was seen declining faster than the other indices this week, which saw a total of 779,363 Doha Bank-sponsored exchange traded fund QETF valued at QR10.65mn change hands across 213 transactions. The domestic institutions continued to be bearish but with lesser vigour this week which saw as many as 54,913 Masraf Al Rayan-sponsored QATR worth QR165,476 trade across 28 deals. Market capitalisation was seen eroding more than QR9bn or 1.2% to QR760.83bn, mainly on mid and small cap segments this week, which saw the industrials and consumer goods sectors together constitute more than 60% of the trade volume. The Total Return Index declined 0.72%, All Share Index by 0.55% and All Islamic Index by 1.48% this week which nevertheless saw total trading volumes and value on the decline. The real estate sector index tanked 3.53%, industrials (3.13%) and telecom (2.25%); while consumer goods and services gained 1.86%, transport (1.78%), insurance (0.61%) and banks and financial services (0.28%) this week, which saw no trading of sovereign bonds and treasury bills. Major losers in the main market included Aamal Company, Dlala, Ezdan, Doha Bank, Industries Qatar, Mesaieed Petrochemical Holding, Alijarah Holding, Inma Holding, Baladna, Qatar Industrial Manufacturing, Gulf International Services, Qamco, Barwa, Mazaya Qatar, Vodafone Qatar and Ooredoo. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value this week. Nevertheless, Zad Holding, Mannai Corporation, Al Khaleej Takaful, Qatar Cinema and Film Distribution, QIIB, Salam International Investment, Medicare Group, Widam Food, Doha Insurance and Milaha were among the gainers in the main market this week. In the main market, the industrials sector accounted for 33% of the total trade volume, consumer goods and services (28%), banks and financial services (17%), real estate (11%), transport (3%), and telecom and insurance (2% each) this week. In terms of value, the banks and financial sector’s share was 41%, industrials (28%), consumer goods and services (16%), realty and transport (5% each), and telecom and insurance (2% each) this week. Qatari individuals’ net selling increased markedly to QR162.43mn compared to QR135.2mn the week ended March 24. The Gulf individuals turned net sellers to the tune of QR3.88mn against net buyers of QR4.16mn the previous week. The foreign institutions’ net buying fell significantly to QR542.05mn compared to QR694.38mn a week ago. The Gulf funds’ net buying fell drastically to QR121.3mn against QR301.32mn the week ended March 24. The Arab individuals’ net buying weakened perceptibly to QR6.46mn compared to QR7.14mn the previous week. The Arab institutions’ net profit booking grew marginally to QR0.17mn against QR0.08mn a week ago. However, the foreign individuals were net buyers to the extent of QR15.36mn compared with net sellers of QR1.51mn the week ended March 24. The domestic funds’ net selling shrank substantially to QR518.7mn against QR870.21mn the previous week. Total trade volume in the main market fell less than 1% to 1.14bn shares, value by 7% to QR3.86bn and transactions by less than 1% to 92,308. The banks and financial services sector’s trade volume plummeted 25% to 195.81mn equities, value by 15% to QR1.59bn and deals by 7% to 37,910. The real estate sector reported 22% plunge in trade volume to 129.97mn stocks, 21% in value to QR194.63mn and 21% in transactions to 6,593. The industrials sector’s trade volume tanked 19% to 380.32mn shares, value by 22% to QR1.09bn and deals by 14% to 22,348. However, the market witnessed 67% surge in the insurance sector’s trade volume to 28.22mn equities, 55% in value to QR88.33mn and 81% in transactions to 2,920. The telecom sector’s trade volume soared 64% to 23.17mn stocks, value by 63% to QR76.27mn and deals by 37% to 4,090. There was 63% expansion in the consumer goods and services sector’s trade volume to 323.02mn shares, 49% in value to QR624.98mn and 22% in transactions to 11,718. The transport sector’s trade volume zoomed 61% to 32.28mn equities and value more than doubled to QR193.94mn on 82% growth in deals to 6,079. In the venture market, trade volumes almost tripled to 2.29mn stocks and value almost doubled to QR16.91mn on more than doubled transactions to 840.    

Qatar witnessed its economy grow 2% in real terms during the fourth quarter (Q4) of 2021, backed by strong rebound in transport, information and communication, and hospitality sectors, according to official data. A 2.3% inflation-adjusted growth in the non-hydrocarbons and 1.3% in mining and quarrying sectors led the country's GDP (gross domestic product) at constant prices (base year 2013) to reach QR166.24bn in the review period, according to figures released by the Planning and Statistics Authority (PSA). On a quarterly basis, the country’s real GDP was down 0.9% during Q4, 2021 with the mining sector and non-mining sectors declining 2.3% and 0.1% respectively, even as the agriculture sector saw a 1.7% expansion. Within non-hydrocarbons, on yearly basis, the transport and storage sector is estimated to have grown 25.6% in real terms, information and communication (16.2%), accommodation and food services (12.9%), construction (4.7%), finance and insurance (2.7%), utilities (2.4%) and real estate (0.5%); while wholesale and retail trade declined 4.8% and manufacturing by 3.7%. On quarterly basis, the utilities segment witnessed a huge 23.1% contraction in real terms, 4.3% in manufacturing, 3.2% in real estate, 2.7% in finance and insurance; even as transport and storage shot up 8.7%, wholesale and retail trade (6.1%), information and communication (6%), construction (1.7%) and accommodation and food services (0.8%). On nominal basis (at current prices), Qatar's GDP is estimated to have soared 29.3% year-on-year but fell 0.3% quarter-on-quarter at the end of fourth quarter of 2021. The hydrocarbons segment saw a healthy 63.7% surge on yearly basis, while it shrank 6.2% on quarterly basis, and the non-hydrocarbons sector saw 15.4% and 3.4% jumps year-on-year and quarter-on-quarter respectively in the review period. Within the non-hydrocarbons sector, there was a stupendous 46% yearly surge in nominal terms, 35.8% in manufacturing, 27.6% in construction, 22.6% in accommodation and food services, 21.2% in finance and insurance, 18.1% in information and communication, 3.4% in wholesale and retail trade and 1.1% in utilities, whereas the real estate segment was down 3.4% during the review period. On quarterly basis in nominal terms, the finance and insurance sector grew 11.6%, transport and storage (10%), construction (9.8%), wholesale and retail trade (7.6%), information and communication (7.6%), and accommodation and food services (4.8%); whereas utilities plummeted 23%, manufacturing (4.9%) and real estate (2.7%). The import duties, on real terms, are estimated to have risen 15.6% and 15.3% year-on-year and quarter-on-quarter respectively at the end of fourth quarter 2021. On nominal terms, they reported 25.6% and 16.9% jump respectively in the review period.    

Qatar's listed companies have posted a strong more than 41% year-on-year growth in the overall net earnings during 2021, indicating the corporate sector’s resiliency and reflecting the country’s sound underlying macroeconomic fundamentals, robust vaccination drive and easing of the Covid-19 restrictions. The net earnings' growth has been mainly on account of robust expansion in the net profitability of the industrials, insurance, transport and consumer goods sectors, according to data compiled by the Qatar Stock Exchange. The listed companies' total net profit soared 41.02% year-on-year to QR43.29bn during January-December 2021 against a 19.65% decline the year-ago period. The resumption of business activities after the easing of pandemic-related restrictions, especially during the second quarter, had its reflection on the subsequent quarter, helping the overall earnings grow during the review year. The banking and financial services, and industrials sectors together contributed more than 84% of the cumulative net profits during 2021, rather corroborating the strong outlook for the non-hydrocarbons, as highlighted by the Qatar Financial Centre's purchasing managers' index. The industrials sector, which has 10 listed constituents, saw a huge 252.34% year-on-year surge in net profitability to QR13.19bn against a 44.24% decline in the year-ago period. The sector contributed 30.47% to the overall net profitability of the listed entities during 2021. Within the industrials sector, the country’s underlying companies that have direct linkages with the hydrocarbons sectors saw price rebound, which helped net earnings enhance faster. The sectoral index jumped 29.87%, substantially outperforming the 20-stock Qatar Index that gained 11.4% in 2021. The insurance sector, which has six companies, more than doubled (137.89% jump) their total net earnings to QR1.01bn during 2021, improving from an 18.92% increase during 2020. The sector contributed 2.33% to the overall net profitability during the review period. The sectoral index gained 13.82% during 2021. The proposed mandatory health insurance and the substantial expansion planned in the North Field are expected to augur well for the insurance sector in the future, according to reports. The transport sector, which has three listed constituents, saw its total net profits zoom 58.22% year-on-year to QR2.3bn compared to 19.08% shrinkage during the corresponding period of 2020. The sector's net profit constituted 5.31% to the total net profit of the listed companies during 2021. The consumer goods and services sector, which has 10 listed entities, saw a 45.12% year-on-year expansion in total net profit to QR1.84bn at the end of December 2021 compared to a 23.14% contraction in the previous-year period. The sector contributed 4.25% to the overall net profitability in the review period. Its index rose 7.92% in QSE during 2021. The banks and financial services sector, which has 12 listed entities, reported a 12.85% year-on-year jump in total net profit to QR23.31bn against a 12.22% contraction the comparable period of 2020. The sector contributed 53.85% to the total net profits of the listed companies in January-December 2021. Its index rose 16.82% in QSE during 2021. However, the realty segment, which has four listed entities, saw its total net earnings plunge 31.15% year-on-year to QR1.25bn during 2021 against a 20.1% drop in the year-ago period. The sector constituted 2.89% to the overall net profitability in the review period. The sectoral index had plummeted 9.77% during 2021. The telecom sector, which has two constituents, witnessed an overall 71.46% decline in net profit to QR0.37bn compared to a 29.81% deceleration during 2020. Its index nevertheless saw a 4.66% jump in QSE during 2021.    

Commercial Bank is opening smart branches at four metro stations as part of strengthening its digital banking footprint in Qatar. “We are looking at smart branches at metro stations in Al Wakra, DECC (Doha Exhibition and Convention Centre, Qatar University and the departure terminals in Hamad International Airport,” Nayef al-Beshri, AGM and head of branches, Commercial Bank, told Gulf Times on the sidelines of the inauguration of its first exclusive Sadara Youth lounge at the Qatar University Metro Station branch. Asked by Gulf Times when these branches would be operationalised, he said the bank is targeting this year itself. "Smart branches are being located in the Qatar Rail network as we would like to focus more on digital solutions," he said, adding one of the core values in the Commercial Bank is digitisation and creativity. Its modern look-and-feel new breed of “smart branches” offer customers increased self-service functionality, and customers can use the branches 24x7 at their convenience to print their cheque books, credit and debit cards instantaneously in less than five minutes. Commercial Bank’s vision is to be the leading bank in Qatar with the world’s best client experience, innovation in products and digital capability, its chairman Sheikh Abdulla bin Ali bin Jabor al-Thani, had said in the 2021 annual report. "The future of banking lies at the intersection of technology, operations, and the client interface and we take pride in being ahead of the curve," the annual report said. Commercial Bank is at present undertaking refurbishment of some branches, which have been closed temporarily, in order to have a fresh and bright welcoming look with a complete new designs and services, according to al-Beshri. “So, we are really excited to see this come to light very soon. One of the newly renovated branches is in Villaggio and very soon we will be reopening the City Centre branch with a completely renovated look,” he said. “All of our renovated branches will incorporate digital lobby that will have selected high volume services, which will be available for customers for self-service 24x7,” he added. In response to Covid-19 pandemic, digital development happened constantly with products launched to help customers remit funds, transact online, increase contactless payments and minimise the need to handle cash. Asked about the outlook of the branch operations in the post pandemic scenario, he said “we are comfortable top operate as normal” because it has overcome the huge obstacle of the pandemic as number of positive cases across the branches has been nil for quite some time.

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.