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The food crisis should neither be left to the law of supply and demand nor should the issue of extreme poverty be left to the poor countries to face alone, His Highness the Amir Sheikh Tamim bin Hamad al-Thani said on Tuesday while addressing the Second Qatar Economic Forum, Powered by Bloomberg. His Highness the Amir said among the impacts of the Ukrainian crisis are the rise in energy and grain prices and the effects of that on the global economy. "There are immediate humanitarian repercussions emanating from the interaction of the effects of war in Ukraine and local crises, such as in Ethiopia, Yemen and Syria, in a way that may immediately result in exposing hundreds of thousands of people to the risk of starvation," he said, according to an unofficial translation of his speech, provided by Qatar News Agency. "There are issues that have no economic solution, these include the war and its devastating consequences on Ukraine and many other countries and peoples. The solution, in this case, can only be politically oriented. Given the circumstances of war, the food crisis should neither be left to the law of supply and demand nor should the issue of extreme poverty be left to the poor countries to face alone," he said. "Our success in overcoming these challenges remains dependent on the ability of all our countries to adhere to a set of principles, foremost among which is the consolidation of justice, equality and solidarity and rejection of double standards." He said the Covid-19 pandemic has revealed the extent of the gap between the rich and poor nations, and contributed to its expansion, especially during the faltering efforts to achieve development and reduce poverty. "The international community must adopt an approach that could translate words and goodwill into practical steps that could achieve equality in economic recovery among countries and salvage the sustainable development goals in a way that could support the poor people and those suffering from turmoil and wars," he added.    

*Qatar Economic Forum opens in Doha   A rise in energy prices and astute policies to support and enhance efficiency have helped Qatar maintain a strong macroeconomic outlook, His Highness the Amir Sheikh Tamim bin Hamad al-Thani stressed on Tuesday in his speech at the Second Qatar Economic Forum, Powered by Bloomberg. "Qatar's gross domestic product (GDP) growth outlook in 2022 is forecast to be 4.9%," His Highness the Amir told the QEF, according to an unofficial translation of his speech provided by Qatar News Agency (QNA). "This is due to the rise in energy prices and the positive impact of the policies and procedures adopted by the State with the aim of supporting the economic sectors, enhancing the private sector's production capacity." His Highness the Amir yesterday patronised the opening of the forum, which is being held under the slogan 'Equalising Global Recovery' at The Ritz-Carlton, Doha, The opening was attended by President of Kazakhstan Kassym-Jomart Tokayev, President of Namibia Hage Geingob, President of Togo Faure Essozimna Gnassingbe, President of Sierra Leone Dr Julius Maada Bio, Prime Minister of Georgia Irakli Garibashvili and the heads of delegations of sisterly and friendly countries, QNA reported. The opening was also attended by HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani, a number of sheikhs, ministers, heads of diplomatic missions accredited to the State, senior policy makers, parliamentarians, thinkers, economists, businesspersons, media and representatives of regional and international organisations. Observing that the rise in energy prices is short-lived and can't be maintained forever, he said: "We had passed through long periods of low energy prices, and the only compensation we got against this decline came from the rational policies and savings during the periods of high prices, for the purpose of investment and diversification of sources of income." On economic diversification, the Amir said some legislative amendments were introduced to facilitate commercial transactions, enhance competition, protect the consumer, encourage the industrial and technological sector, support national products' competitiveness and increase foreign direct investment by allowing 100% foreign investors' ownership of companies. "These efforts have led to a significant increase in the volume of domestic and foreign investment over the last years, especially with regard to foreign direct investment, which increased by 27% during 2021 compared to 2020. We hope this growth will continue to rise in the coming years in accordance with the adopted plans," he said. He highlighted that Qatar and the entire region are heading for a significant historical event of hosting the 2022 FIFA World Cup for the first time in the Middle East region. "We are confident that the wide participation of countries of the world in this event will not only open the prospects for strengthening international economic partnerships but will also constitute a springboard for strengthening the bridges of communication and dialogue between different peoples," he said. Earlier, he welcomed the participants to the forum, noting that it aims to "enrich dialogue on the strategic issues that are at the forefront of priorities for the global economy, and in this context, I value the wide participation in-person attendance, hoping that this will be a true representation of turning the Covid-19 page." "The positive health indicators have risen after lifting restrictions, recovery of trade flow, increase in public spending and rise in global demand at all levels. However, the confusion that has impacted the supply chains is still among the major factors that drive up prices, in addition to the devastating effects of the ongoing war in the European continent on Ukrainian territory. "The pandemic has revealed the extent of the gap between the rich and poor nations, and contributed to its expansion, especially during the faltering efforts to achieve development and reduce poverty. "The international community must adopt an approach that could translate words and goodwill into practical steps that could achieve equality in economic recovery among countries and salvage the sustainable development goals in a way that could support the poor peoples and those suffering from turmoil and wars." His Highness the Amir said economic forecasts indicate a slowdown of growth in the global economy by about a third this year compared to last year in the light of the high rates of inflation in the long term. This, according to him, could be a prelude to an inflationary recession the world has never seen since the period between 1976 and 1979, according to World Bank reports, when sharp rises in interest rates to combat inflation led to the economic recession of the early 1980s.      

Doha has attracted foreign investments in excess of $3bn so far this year in its capital market, higher than the $1.8bn total investments for the whole of 2021, indicating the attractiveness and confidence of global investors, according to HE Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani. Addressing the second Qatar Economic Forum, powered by Bloomberg, he said the ongoing conflicts changed Qatar's perspective of the world and the destination of its foreign investments. Investment in the energy and other fields in the Middle East are likely to increase, he expressed the hope. He said Qatar has adopted the free trade policy and made many structural reforms to enhance the concept of trade openness. International trade currently constitutes about 55% of the gross domestic product or GDP of world countries compared to about 5% 70 years ago, he said, highlighting the growing importance of the international trade as an engine of growth. In this context, he said that Qatar depends a lot on global trade, as around 90% of its GDP comes from international trade, therefore requiring it make fundamental reforms and attract more trade. "The world is witnessing a reshaping of the economy, especially in investments," the minister said. Foreign direct investment (FDI) into Qatar rebounded in 2021, attracting 82 projects, which represented a stupendous 273% growth compared to inbound project numbers in 2019, according to the recent fDi Report 2022. The Gulf country accounted for more than 6% of the total inbound FDI projects in the Middle East and Africa region, said the report, prepared by fDi Intelligence, a services from the Financial Times. The report said one of the most capital intensive investments in 2021 was the US-based Eat Just’s plans for a new $200m commercial facility in Qatar. It will produce cell-based meat, with plans to eventually add capacity to also produce the company’s egg alternative product called Just Egg. Dogus Group chairman and chief executive Ferit F ?ahenk said the global economy will face a rescission and there may be an economic decline. He stressed on the importance of inclusiveness and the presence of co-operation and a collective action plan to solve the economic problems and challenges facing the world and the necessity of flexibility in the global system, the International Monetary Fund, and the United Nations. Global Chairman of PwC Bob Moritz said today the world is going through a supply chain reconfiguration, in comparison to what things used to be five years ago in terms of how to reduce dependence on the concentration of different risks and the multiplicity of options available. The supply chain is not just about products, but about services, human capital, and reshaping those concepts. He pointed out that there is a link between energy security and food security as this link created a challenge for the world countries to face, according to him.    

Qatar Central Bank (QCB) is contemplating issuing digital currency or CBDC (central bank digital currency) as is known in the international parlance, according to its top official. "We are in the foundation stage and evaluating the pros and cons of issuing the CBDC," QCB Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani, told the second Qatar Economic Forum, powered by Bloomberg. He said the central bank is currently weighing options to find the right and proper technology platform to issue the CBDC. Many central banks are discovering to issue their CBDCs and the QCB “is not an exception”, the central bank governor said. Digital currency, which is expected to lead to a more efficient and cheaper currency management system, uses blockchain and other technologies. A blockchain is a digital ledger that records transactions, which could be tracked. The QCB is believed to have undertaken research on digital bank licensing and digital currencies. A CBDC is a country's fiat currency in digital form and is managed by the central bank. Various reports indicate that trade regions like the Middle-East are uniquely positioned to take advantage of CBDC as energy and global trade trends shift. Most countries are still in the research and development stage, but a few have already started trials and have gone beyond the stages of development, according to reports. According to reports by the Atlantic Council, 87 countries are taking initiatives to create a CBDC. This accounts for more than 90% of the global GDP (gross domestic product). As the popularity of digital currencies is increasing, the global finance sector is preparing for a transformation. In the Gulf region, as part of its 2023-26 strategy, the UAE Central Bank is preparing to launch its digital currency. In May 2021, the Central Bank of Bahrain started collaboration with JP Morgan and Bank ABC to develop a cross border digital currency settlement pilot programme. On crypto currency, Sheikh Bandar said they are technology innovations, which might take the world to a new era of fast, cheap and more accessible payment and financial services but those assets, which are not regulated by the monetary authorities, might be “discreditable”.    

The Qatar Financial Centre (QFC), which has as many as 65 fintech companies as of now, has suggested tokenisation in the country's real estate sector, which is currently over supplied, according to Yousuf Mohamed al-Jaida, its chief executive. Finding that 80-85% of the market is not accessible to public; he told the second Qatar Economic Forum, powered by Bloomberg, that "tokenisation in the real estate becomes a plausible solution to address the problems in the sector." Tokenisation is like crowdfunding, breaking up the value of a real estate investment into smaller chunks. Each fraction of a real estate asset is converted into a token, and then encrypted with all the details that grant ownership. "So creating regulations around digital assets and tokenisation will be required to address the problems. We look at the market how it reacts and then step in if regulations are required," he said. The real estate is currently over supplied and there have been issues in terms of valuation and pricing although residential complexes and apartments are doing well, he said, adding there are segments in the real estate that have been suffering since 2017. Highlighting that the fintech companies are redrawing the financial services industry; he said the trend is that financial institutions are embracing disruptions and are also becoming disruptors. "We see a lot of acquisition between financial institutions and technological companies. What we also see is that most of the blue-chip financial institutions are partnering with existing technological companies," he said. Stressing that fintech companies need customers and financial institutions need data, so it is win-win situation, he said given the trend, the QFC has taken a liberal approach to allow most fintech companies across multiple service lines to establish and register in the QFC without regulations. The idea is that if you are a technology company, the QFC will treat it as an ICT (information, communication and technology) entity, he said. The QFC perceives that around 80% of fintechs do not require regulation, given that they develop the underlying technologies such APIs, AI and blockchain, and provide them directly to financial institutions that themselves act as depository institutions. If fintechs accept deposit and provide credit, they would be mandated to use the existing infrastructure, which is already regulated in the market. "We have more than 65 fintech companies currently under the QFC and most of them leverage upon the existing infrastructure in the industry," al-Jaida said. Qatar has made remarkable progress in the fintech space in a very short time. Several major developments have taken place in 2021, including the launch of Qatar’s National Fintech Strategy, the Qatar Fintech Hub (QFTH) and its incubator and accelerator programmes as well as the QFC Fintech Circle and Tech Talk series. In its Qatar Fintech Report 2021, the QFC said Islamic Fintech is expected to experience "significant" growth in coming years and Qatar has the opportunity to secure a unique advantage over other Islamic FinTech hubs through Shariah-compliant venture capital.    

The Qatar Financial Centre (QFC), which has as many as 65 fintech companies as of now, has suggested tokenisation in the country's real estate sector, which is currently over supplied, according to Yousuf Mohamed al-Jaida, its chief executive. Finding that 80-85% of the market is not accessible to public; he told the second Qatar Economic Forum, powered by Bloomberg, that "tokenisation in the real estate becomes a plausible solution to address the problems in the sector." Tokenisation is like crowdfunding, breaking up the value of a real estate investment into smaller chunks. Each fraction of a real estate asset is converted into a token, and then encrypted with all the details that grant ownership. "So creating regulations around digital assets and tokenisation will be required to address the problems. We look at the market how it reacts and then step in if regulations are required," he said. The real estate is currently over supplied and there have been issues in terms of valuation and pricing although residential complexes and apartments are doing well, he said, adding there are segments in the real estate that have been suffering since 2017. Highlighting that the fintech companies are redrawing the financial services industry; he said the trend is that financial institutions are embracing disruptions and are also becoming disruptors. "We see a lot of acquisition between financial institutions and technological companies. What we also see is that most of the blue-chip financial institutions are partnering with existing technological companies," he said. Stressing that fintech companies need customers and financial institutions need data, so it is win-win situation, he said given the trend, the QFC has taken a liberal approach to allow most fintech companies across multiple service lines to establish and register in the QFC without regulations. The idea is that if you are a technology company, the QFC will treat it as an ICT (information, communication and technology) entity, he said. The QFC perceives that around 80% of fintechs do not require regulation, given that they develop the underlying technologies such APIs, AI and blockchain, and provide them directly to financial institutions that themselves act as depository institutions. If fintechs accept deposit and provide credit, they would be mandated to use the existing infrastructure, which is already regulated in the market. "We have more than 65 fintech companies currently under the QFC and most of them leverage upon the existing infrastructure in the industry," al-Jaida said. Qatar has made remarkable progress in the fintech space in a very short time. Several major developments have taken place in 2021, including the launch of Qatar’s National Fintech Strategy, the Qatar Fintech Hub (QFTH) and its incubator and accelerator programmes as well as the QFC Fintech Circle and Tech Talk series. In its Qatar Fintech Report 2021, the QFC said Islamic Fintech is expected to experience "significant" growth in coming years and Qatar has the opportunity to secure a unique advantage over other Islamic FinTech hubs through Shariah-compliant venture capital.

Qatar Central Bank (QCB) is contemplating issuing digital currency or CBDC (central bank digital currency) as is known in the international parlance, according to its top official. "We are in the foundation stage and evaluating the pros and cons of issuing the CBDC," QCB Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani, told the second Qatar Economic Forum, powered by Bloomberg. He said the central bank is currently weighing options to find the right and proper technology platform to issue the CBDC. Many central banks are discovering to issue their CBDCs and the QCB “is not an exception”, the central bank governor said. Digital currency, which is expected to lead to a more efficient and cheaper currency management system, uses blockchain and other technologies. A blockchain is a digital ledger that records transactions, which could be tracked. The QCB is believed to have undertaken research on digital bank licensing and digital currencies. A CBDC is a country's fiat currency in digital form and is managed by the central bank. Various reports indicate that trade regions like the Middle-East are uniquely positioned to take advantage of CBDC as energy and global trade trends shift. Most countries are still in the research and development stage, but a few have already started trials and have gone beyond the stages of development, according to reports. According to reports by the Atlantic Council, 87 countries are taking initiatives to create a CBDC. This accounts for more than 90% of the global GDP (gross domestic product). As the popularity of digital currencies is increasing, the global finance sector is preparing for a transformation. In the Gulf region, as part of its 2023-26 strategy, the UAE Central Bank is preparing to launch its digital currency. In May 2021, the Central Bank of Bahrain started collaboration with JP Morgan and Bank ABC to develop a cross border digital currency settlement pilot programme. On crypto currency, Sheikh Bandar said they are technology innovations, which might take the world to a new era of fast, cheap and more accessible payment and financial services but those assets, which are not regulated by the monetary authorities, might be “discreditable”.  

Doha has attracted foreign investments in excess of $3bn so far this year in its capital market, higher than the $1.8bn total investments for the whole of 2021, indicating the attractiveness and confidence of global investors, according to HE Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani. Addressing the second Qatar Economic Forum, powered by Bloomberg, he said the ongoing conflicts changed Qatar's perspective of the world and the destination of its foreign investments. Investment in the energy and other fields in the Middle East are likely to increase, he expressed the hope. He said Qatar has adopted the free trade policy and made many structural reforms to enhance the concept of trade openness. International trade currently constitutes about 55% of the gross domestic product or GDP of world countries compared to about 5% 70 years ago, he said, highlighting the growing importance of the international trade as an engine of growth. In this context, he said that Qatar depends a lot on global trade, as around 90% of its GDP comes from international trade, therefore requiring it make fundamental reforms and attract more trade. "The world is witnessing a reshaping of the economy, especially in investments," the minister said. Foreign direct investment (FDI) into Qatar rebounded in 2021, attracting 82 projects, which represented a stupendous 273% growth compared to inbound project numbers in 2019, according to the recent fDi Report 2022. The Gulf country accounted for more than 6% of the total inbound FDI projects in the Middle East and Africa region, said the report, prepared by fDi Intelligence, a services from the Financial Times. The report said one of the most capital intensive investments in 2021 was the US-based Eat Just’s plans for a new $200m commercial facility in Qatar. It will produce cell-based meat, with plans to eventually add capacity to also produce the company’s egg alternative product called Just Egg. Dogus Group chairman and chief executive Ferit F ?ahenk said the global economy will face a rescission and there may be an economic decline. He stressed on the importance of inclusiveness and the presence of co-operation and a collective action plan to solve the economic problems and challenges facing the world and the necessity of flexibility in the global system, the International Monetary Fund, and the United Nations. Global Chairman of PwC Bob Moritz said today the world is going through a supply chain reconfiguration, in comparison to what things used to be five years ago in terms of how to reduce dependence on the concentration of different risks and the multiplicity of options available. The supply chain is not just about products, but about services, human capital, and reshaping those concepts. He pointed out that there is a link between energy security and food security as this link created a challenge for the world countries to face, according to him.

Qatar Tuesday said under investments in the previous years was a key reason for the current high energy prices and therefore more investments in the oil and gas sectors are imperative. Addressing the second Qatar Economic Forum (QEF), powered by Bloomberg, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi said there has been an almost 20% year-on-year decline in capital expenditure in the upstream business over the last seven to eight years. There was the pandemic and the appurtenant overall slowdown worldwide and then the situation was amplified more by the present Russia-Ukraine issue, he said. “The under investments is the underpinning reason for much higher (energy) prices,” he said, adding for the system to correct itself, there was a need for higher investments. The oil market is focused on supply constraints, so prices are likely to remain elevated with strategists at Societe Generale forecasting the black gold at $130 in the third quarter and $120 in the subsequent quarter. “We need to invest more in the oil and gas sector due to the better revenues the oil companies are getting. Also due to the fact that legislators now understand that you can do transition without the base load cover, which is having investments in the gas business,” he said. Sheikh Nawaf Saud al-Sabah, deputy chairman and chief executive, Kuwait Petroleum Corporation, said the massive under investments started in 2014-15 and continued and led to discovery of less than 2bn barrel per year. Typical investment cycle for exploration is seven years from the time oil is discovered, he said. “In Kuwait, we have increased our exploration and investments in building capacity to meet the requirements for the future,” he said, adding the country has been producing hydrocarbons onshore for the last 80 years. “We have now taken steps into exploration offshore. The first offshore drill rig arrived in Kuwait last week,” he said. In terms of capacity building, Sheikh Nawaf said Kuwait Petroleum Company is at present in the commissioning stage of new refinery, which will be the largest in the world at 650,000 barrels of oil per day and that should be online by the end of the year. It (the new refinery) would be the answer to the increased demand from the Europe, he said, adding under the Opec allocation, oil production could be ramped up by 2.7mn bpd. Darren Woods, chairman and chief executive of ExxonMobil, said his company is one of the few international oil companies in the US that have been investing in refining. “We have got a big expansion plan of 250,000 barrels per day (to process the light crude),” he said. The company had kept investing even during the pandemic, when it lost more than $20bn and had to borrow more than $30bn to maintain investment to increase capacity to be ready for post-pandemic demand. In a veiled remark to the UK's decision to impose a 25% windfall tax on oil and gas companies; al-Kaabi said "I don’t see the government pitch in when they (oil firms) make losses and borrow when the oil price was negative in Texas." He said countries should take into account the issue of taxes levied on companies through formulas that ensure a balance in this field, given that the profits achieved by these international oil companies represent their investments in the medium and long term.  

Qatar, which is enhancing its liquefied natural gas (LNG) production, is planning to capture up to 11mn tonnes of carbon dioxide through sequestration as part of the country's measures to responsibly meet the increasing energy demand of the world. "Carbon dioxide sequestration is an important element in expanding our business in the energy sector, while preserving the environment. Going forward, we are going to capture 11mn tonnes of carbon dioxide," HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi told the second Qatar Economic Forum, powered by Bloomberg. Qatar has been capturing and sequestrating up to 2.5mn tonnes of carbon annually since last seven years, he said. Qatar continues to invest in low-carbon technologies such as carbon capture and sequestration and solar energy, and will start producing electricity from solar energy for the first time in the first half of 2022, as it aspires to double the use of solar power plants to generate electricity by 2030. The North Field Expansion will include a carbon capture and storage (CCS) facility to capture carbon dioxide emissions from the project. The CCS facility will be the largest of its kind in the LNG industry, and will be part of a carbon dioxide capture and storage cluster in Ras Laffan in Qatar. Power for the facility will be sourced from an 800MW solar power plant under construction nearby, further reducing the project’s carbon footprint. One of the most important environmental elements of the NFE project is its carbon dioxide capture and sequestration system that will be integrated with the wider CCS scheme in Ras Laffan, which, once fully operational, would be the largest of its kind in terms of capacity in the LNG industry, and would be one of the largest ever developed anywhere in the world, he had said last year. Equipping the expanded operations with CCS builds on the "sustainability pledge" that QatarEnergy had made in January 2021 for its upstream and downstream operations. Qatar is the world's largest LNG producer, and by implementing the sustainability strategy, it would play a decisive role in helping reduce the impact of climate change by implementing measures to curb emissions, produce LNG using the latest proven carbon reduction technologies, and compensating for residual emissions where necessary. Al-Kaabi, who is also the president and chief executive of QatarEnergy, said apart from using solar power for the CCS, the ships that would be used in transportation would not be using heavy fuels, instead it would run in LNG. Qatar is also examining the best ways to develop and use other clean fuels such as hydrogen.  

Commerce minister accompanies delegation on tour of Al Thumama Stadium His Highness the Amir Sheikh Tamim bin Hamad al-Thani will patronise today the opening of the Qatar Economic Forum, Powered by Bloomberg, with the participation of a number of heads of state and government, ministers, senior political and economic officials, experts and heads of companies from Qatar and the world. His Highness the Amir will deliver a speech at the opening session of the forum, which will be held at The Ritz-Carlton, Doha. Being held under the theme ‘Equalising the Global Recovery’, the forum is expected to draw more than 75 main-stage Qatari, regional and international speakers, and more than 500 global attendees, from chief executive officers to influential entrepreneurs and leaders of disruptive businesses. The forum will also discuss the economic strategies adopted to diversify sources of income in a way that contributes to reducing climate change, eliminating poverty, reducing inflation, protecting the environment, providing investment opportunities in the sports sector, preparing to host the FIFA World Cup Qatar 2022, future technology prospects, and ways to support the renaissance of the African continent in the 21st century. Meanwhile, as part of the Qatar Economic Forum programme, HE Sheikh Mohamed bin Hamad bin Qassim al-Thani, Minister of Commerce and Industry, accompanied a delegation of senior officials on a tour of Al Thumama Stadium, during their visit to learn about Qatar’s preparations to host the FIFA World Cup Qatar 2022. The delegation included Faure Essozimna Gnassingbé, President of Togo, and a number of other dignitaries such as Scott Havens, CEO of Bloomberg Media, members of the supreme organising committee of QEF 2022, representatives of diplomatic missions in Qatar, and CEOs of a number of banks and major local and international companies. The delegation was briefed on the various facilities of Al Thumama Stadium and its readiness to host World Cup matches. Located 12km south of the heart of Doha, Al Thumama Stadium will host the FIFA World Cup Qatar 2022 matches from the group stage matches up to the quarter-finals. The design of the stadium was inspired by the ‘gahfiya’, the traditional woven head cap worn by men and boys across the Arab world. Considering that the football extravaganza is happening for the first time in the Middle East region, the attendees of QEF, whose key sessions and themes will start today, were given a glimpse of the prospects and pace with which the country is executing several infrastructure projects in a time bound manner for the smooth conduct of the sporting event. Doha, which has had its name etched in the international economic and financial circles through its World Trade Organisation (WTO) Round in 2001, has always been a sought-after platform to bring together policy makers, thought leaders and different members of the global  business community. Last year’s version had 11 presidents, as well as ranking government officials, international organisations, corporations and experts from as many as 120 countries. Sheikh Ali bin Abdullah bin Khalifa al-Thani, chief executive of Media City and also chairman of the supreme committee organising the second Qatar Economic Forum 2022, has said the participation of world leaders and ranking officials reflects Qatar’s status as a regional and international hub for business, investment, sports, and education. The forum is hosting leading Qatari personalities from the public and private sector, in addition to international speakers and experts in different fields. Participants will share their expertise on wide-ranging topics in the field of management and will discuss the topics on the agenda such as women’s leadership in business, the future of energy, sustainable development, digital transformation, as well as the trends in the global financial system. Havens said the forum is an opportunity for world leaders to discuss ways to drive global economic recovery in a sustainable and comprehensive manner. HE Sheikh Mohamed bin Hamad bin Qassim al-Thani accompanied a delegation of senior officials on a tour of Al Thumama Stadium.

The Qatar Stock Exchange continued to witness heavy profit booking, leading to more than 442 points plunge in key barometer and QR25bn in capitalisation, following the global sell-off last week and oil’s plunge on Friday. An across the board selling, particularly in the industrials, led the 20-stock Qatar Index plummet 3.52% to 12,119.85 points, although it touched an intraday high of 12,486 points. The domestic institutions were seen net profit takers in the market, whose year-to-date gains were at 4.25%. The Gulf institutions were increasingly net sellers in the bourse, whose capitalisation saw about QR25bn or 3.53% decline to QR680.85bn, mainly on the back of large and midcap segments. The Islamic index was seen declining slower than the main barometer in the market, where the industrials sector alone constituted about 54% of the total trading volume. More than 93% of the traded constituents were in the red in the bourse, which saw a total of 0.2mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.52mn changed hands across 30 deals. Nevertheless, local retail investors turned bullish 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 3.52% to 24,825.4 points, All Share Index by 3.28% to 3,887.52 points and Al Rayan Islamic Index (Price) by 3.35% to 2,661.32 points. The industrials sector index tanked 5%, realty (3.05%), banks and financial services (2.93%), transport (2.82%), consumer goods and services (2.45%), telecom (1.93%) and insurance (1.38%). Major losers in the main market included Qatari German Medical Devices, Gulf International Services, Qamco, Ezdan, Salam International Investment, QNB, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Baladna, Industries Qatar, Mesaieed Petrochemical Holding, Estithmar, QLM, Gulf Warehousing and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. Nevertheless, Qatar Islamic Insurance and Ahlibank Qatar were the gainers in the main market. The domestic funds turned net sellers to the tune of QR95.26mn compared with net buyers of QR9.61mn on June 16. The Gulf funds’ net selling increased perceptibly to QR27.17mn against QR20.72mn the previous trading day. The Gulf individuals’ net buying eased marginally to QR1.53mn compared to QR1.61mn last Thursday. However, Qatari individuals turned net buyers to the tune of QR57.25mn against net sellers of QR17.05mn on June 16. The foreign funds’ net buying zoomed substantially to QR56.47mn compared to QR37.88mn the previous trading day. The Arab individuals’ net buying strengthened marginally to QR5.91mn against QR5.49mn last Thursday. The foreign individuals were net buyers to the extent of QR0.78mn compared with net sellers of QR17.15mn on June 16. The Arab institutions’ net buying increased marginally to QR0.5mn against QR0.33mn the previous trading day. Total trade volume in the main market fell 38% to 234.16mn shares, value by 72% to QR688.42mn and transactions by 51% to 13,045. The banks and financial services sector’s trade volume plummeted 84% to 35.39mn equities, value by 87% to QR252.1mn and deals by 75% to 4,326. The transport sector reported 74% plunge in trade volume to 3.69mn stocks, 69% in value to QR19.17mn and 63% in transactions to 410. The telecom sector’s trade volume tanked 43% to 3.9mn shares, value by 74% to QR8.5mn and deals by 61% to 509. There was 23% shrinkage in the insurance sector’s trade volume to 3.11mn equities, 1% in value to QR10mn and 62% in transactions to 201. The real estate sector’s trade volume was down 3% to 34.44mn stocks and value by 40% to QR41.9mn, whereas deals shot up 27% to 1,004. However, the market witnessed 63% surge in the industrials sector’s trade volume to 125.77mn shares, 18% in value to QR309.14mn and 24% in transactions to 5,488. The consumer goods and services sector’s trade volume zoomed 34% to 27.86mn equities; while value shrank 56% to QR47.61mn and deals by 20% to 1,107. The venture market saw 60.38% contraction in trade volumes to 0.21mn stocks, 64.03% in value to QR1.41mn and 74.07% in transactions to 56.  

The sharp hike in interest rates by the US Federal Reserve to tame a 40-year high inflation had its repercussions in the Qatar Stock Exchange, which plummeted 537 points and wiped off QR26bn in capitalisation this week. The domestic funds were seen increasingly into net selling as the 20-stock Qatar Index tanked 4.1% this week which saw the QSE chief executive Tamim Hamad al-Kawari tell a London conference that the bourse is focused on improving the liquidity. The foreign institutions’ weakened net buying had its influence in the market this week which saw Commercial Bank closes $750mn Asian syndicate term loan facility. The foreign individuals’ net buying also waned this week which saw Doha Bank brings in QNBFS as liquidity provider for its sponsored exchange traded fund QETF. An across the board selling, particularly in the industrials, dampened the sentiments in the bourse this week which saw Gulf Warehousing Company (GWC) sign pact with Ponticelli Freres Group. The Gulf individuals turned net profit takers this week which saw the global credit rating agency Standard and Poor’s upgrade rating of Al Khaleej Takaful. About 94% of the traded constituents in the main market were in the red this week which saw Qatar’s trade surplus swell 86% year-on-year in May 2022. Nevertheless, Arab individuals were seen bullish this week which saw a total of 0.2mn QETF valued at QR2.45mn change hands across 40 transactions. The Gulf individuals were also seen net buyers this week which saw as many as 0.84mn Masraf Al Rayan-sponsored QATR worth QR2.29mn trade across 133 deals. The overall trading and turnover in the main market were on the increase this week, which saw the industrials and banking sectors together constitute more than 72% of the total trade volume. Market capitalisation was seen eroding more than QR26bn or 3.62% to QR705.8bn, mainly on large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills. The Total Return Index tanked 4.1%, All Islamic Index by 3.62% and All Share Index by 3.56% this week. The industrials sector plummeted 5.81%, banks and financial services (3.47%), transport (3.09%), real estate (3.01%), insurance (0.78%), telecom (0.61%) and consumer goods and services (0.06%) this week. Major shakers in the main market included Commercial Bank, Industries Qatar, Qamco, Qatar Industrial Manufacturing, Qatar First Bank, Doha Bank, Masraf Al Rayan, Qatari German Medical Devices, Baladna, Qatar Electricity and Water, Qatar Insurance, Qatar Islamic Insurance, Ezdan, Mazaya Qatar, Milaha and GWC; while both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value this week. Nevertheless, Qatar General Insurance and Reinsurance, Woqod and Qatar Cinema and Film Distribution were among the gainers in the main market this week. In the main market, the banks and financial services sector accounted for 39% of the total trade volume, industrials (33%), consumer goods and services (11%), real estate (10%), transport (4%), telecom (2%) and insurance (1%) this week. In terms of value, the banks and financial sector’s share was 64%, industrials (20%), consumer goods and services (6%), transport and realty (3% each), telecom (2%) and insurance (1%) this week. The domestic funds’ net selling grew substantially to QR209.99mn compared to QR77.1mn the week ended June 9. The Gulf institutions turned net sellers to the tune of QR23.13mn against net buyers of QR74.96mn the previous week. The foreign funds’ net buying decreased markedly to QR242.74mn compared to QR304.66mn a week ago. The foreign individuals’ net buying weakened perceptibly to QR1.82mn against QR5.15mn the previous week. However, Arab individuals were net buyers to the extent of QR24.36mn compared with net sellers of QR22.23mn a week ago. The Arab institutions’ net buying rose marginally to QR2.87mn against QR1.72mn the week ended June 9. The Gulf individuals turned net buyers to the tune of QR2.1mn compared with net sellers of QR7.07mn the previous week. Qatari individuals’ net profit booking fell drastically to QR40.76mn against QR280.08mn a week ago. Total trade volume in the main market rose 6% to 953.73mn shares, value by 56% to QR4.91bn and transactions by 37% to 111,528. The banks and financial services sector’s trade volume more than doubled to 372.84mn equities and value more than doubled to QR3.14bn on 70% increase in deals to 62,955. However, there was a 38% plunge in the transport sector’s trade volume to 34.9mn stocks and 38% in value to QR167.41mn but on 3% increase in transactions to 5,105. The insurance sector’s trade volume tanked 37% to 11.75mn shares, value by 51% to QR32.81mn and deals by 13% to 1,438. The consumer goods and services sector reported 30% shrinkage in trade volume to 101.24mn equities but on 4% jump in value to QR308.54mn and less than 1% in transactions to 6,939. The real estate sector’s trade volume shrank 24% to 95.98mn stocks, value by 14% to QR163.03mn and deals by 15% to 5,225. The market witnessed 14% contraction in the telecom sector’s trade volume to 21.3mn shares but on 28% surge in value to QR96.31mn and 53% in transactions to 5,465. The industrials sector’s trade volume was down 13% to 315.71mn equities and value by 3% to QR1bn, whereas deals shot up 16% to 24,401. The venture market saw 56.17% drop in trade volumes to 1.49mn stocks, 56.16% in value to QR9.78mn and 51.74% in transactions to 555.    

The Qatar Stock Exchange on Thursday declined 0.51%, reflecting global cues after the US Federal Reserve hiked the reference rate by 0.75% in order to tame the 40-year high inflation. A higher than average selling pressure at the industrials, transport and banking counters led the 20-stock Qatar Index to shrink 65 points to 12,562.05 points, although it touched an intraday high of 12,671 points. The Gulf funds were seen net profit takers in the market, whose year-to-date gains were at 8.05%. The foreign institutions’ weakened net buying also had its influence in the bourse, whose capitalisation saw more than QR5bn or 0.73% decline to QR705.8bn, mainly on the back of mid and small cap segments. The Islamic index was seen declining slower than the other indices in the market, where the industrials and banking sectors together constituted about 79% of the total trading volume. The foreign individuals turned bearish in the bourse, which saw a total of 335,057 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.06mn changed hands across 55 deals. The Arab individuals’ net buying slackened in the market, which saw no trading of sovereign bonds. Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills. The Total Return Index shrank 0.51% to 25,731.15 points, the All Share Index by 0.62% to 4,019.32 points and the Al Rayan Islamic Index (Price) by 0.17% to 2,753.61 points. The industrials sector index tanked 0.93%, transport (0.89%), banks and financial services (0.8%) and real estate (0.2%); while consumer goods and services gained 0.78%, telecom (0.51%) and insurance (0.27%). About 60% of the traded constituents were in the red with major shakers being Qatar First Bank, Industries Qatar, Zad Holding, Qatar Industrial Manufacturing, QNB, Qatar Islamic Bank, Mannai Corporation, Qamco, Qatar Islamic Insurance, Al Khaleej Takaful, Ezdan, United Development Company and Milaha. In the venture market, Mekdam Holding saw its shares depreciate in value. Nevertheless, Doha Insurance, Mesaieed Petrochemical Holding, Qatar General Insurance and Reinsurance, QIIB, Woqod, Widam Food, Baladna, Aamal Company and Barwa were among the gainers in the main market. The Gulf funds turned net sellers to the tune of QR20.72mn compared with net buyers of QR0.15mn on June 15. The foreign individuals were net sellers to the extent of QR17.15mn against net buyers of QR3.18mn on Wednesday. The foreign funds’ net buying declined substantially to QR37.88mn compared to QR90.58mn the previous day. The Arab individuals’ net buying weakened perceptibly to QR5.49mn against QR6.55mn on June 15. The Arab institutions’ net buying decreased noticeably to QR0.33mn compared to QR1.81mn on Wednesday. However, the domestic funds turned net buyers to the tune of QR9.61mn against net sellers of QR67.81mn the previous day. The Gulf individuals’ net buying grew marginally to QR1.61mn compared to QR1.22mn on June 15. Qatari individuals’ net profit booking shrank considerably to QR17.05mn against QR35.68mn on Wednesday. Total trade volume in the main market more than tripled to 378.97mn shares and value also more than tripled to QR2.43bn on 11% increase in transactions to 26,542. The banks and financial services sector’s trade volume grew more than five-fold to 220.35mn equities and value more than quadrupled to QR1.88bn on 17% jump in deals to 16,970. The real estate sector’s trade volume more than tripled to 35.55mn stocks and value also more than tripled to QR69.52mn, whereas transactions were down 11% to 793. The insurance sector’s trade volume more than doubled to 4.03mn shares and value also more than doubled to QR10.08mn on 67% growth in deals to 532. The telecom sector’s trade volume more than doubled to 6.82mn equities and value also more than doubled to QR32.93mn on 5% expansion in transactions to 1,309. The transport sector’s trade volume more than doubled to 14.13mn stocks and value also more than doubled to QR62.47mn, while deals shrank 6% to 1,123. The market witnessed 87% surge in the industrials sector’s trade volume to 77.28mn shares and 88% in value to QR261.35mn but on 5% shrinkage in transactions to 4,426. The consumer goods and services sector’s trade volume zoomed 37% to 20.81mn equities and value almost tripled to QR107.56mn on 16% higher deals to 1,389. In the venture market, trade volumes were seen growing 2% to 0.53mn stocks and value by 40% to QR3.92mn on more than doubled transactions to 216.    

Qatar's trade surplus soared 86.8% year-on-year during the first quarter (Q1) of this year as the country's exports grew much faster than imports, according to the official statistics. Asia remained the principal destination of Qatar’s exports and the first origin of imports as the country saw QR74.61bn trade surplus on trade volumes of QR132.92bn during Q1-2022, said the Planning and Statistics Authority (PSA) data. During Q1-2022, the value of Qatar’s total exports (including exports of domestic goods and re-exports) amounted to QR103.8bn, which increased 62.2% and 3.8% year-on-year and quarter-on-quarter respectively. The yearly jump in total exports was mainly due to a 65.5% surge in the shipments of mineral fuels (QR35bn), 57.1% in chemicals and related products (QR3.4bn), 1013.4% in crude materials, inedible, except fuels (QR0.8bn), 30.2% in manufactured goods classified chiefly by material (QR0.6bn) and 83.3% in food and live animals (QR0.03bn). On other hand, there was a 2.1% decline in machinery and transport equipment valued at QR0.05bn and 2.2% in miscellaneous manufactured articles (QR0.01bn). The value of Qatar’s imports during Q1-2022 was QR 29.2bn; which increased 21.3% and 2% on a yearly and quarterly basis respectively. The Q2-2022 year-on-year jump in imports values is mainly due to a 39.7% increase in miscellaneous manufactured articles valued at QR1.7bn, 13.7% in machinery and transport equipment (QR1.2bn), 299.5% in mineral fuels, lubricants and related materials (QR0.6bn), 21.2% in chemicals and related Products (QR0.55bn) and 14.3% in manufactured goods classified chiefly by material (QR0.52bn). The Asian region was the principal destination of Qatar’s exports and the first origin of Qatar’s imports, representing 75.5% and 41.3% respectively; followed by the European Union, accounting for 14.4% and 28.5% respectively; and the GCC (Gulf Co-operation Council), with 5.4% and 5.8% respectively. Trade volume and balance with Asia stood at QR90.35bn and QR66.24bn respectively, European Union (QR23.28bn and QR6.69bn), the GCC (QR7.31bn and QR3.92bn), and the US (QR5.07bn and -QR2.45bn) during Q1-2022. In its World Investment Report, the United Nations Conference on Trade and Development had noted Qatar's “normalisation of relations with the three GCC members will improve investment prospects for Qatar specifically and likely to boost intraregional flows.” An International Monetary Fund paper had earlier said given that low intra-GCC trade is mostly due to similar economic structures of the member countries, the greater regional trade can be boosted by diversifying the economy toward tradable goods. Trade volume and balance with Oceania amounted to QR1.08bn and -QR0.18bn respectively during Q1-2022; Africa (except Arab countries) QR1.21bn and QR0.52bn; other American countries (QR1.21bn and -QR0.15bn); and other Arab countries (QR0.98bn and QR0.07bn. The trade balance and volume of Qatar with other countries not specified amounted to QR0.69bn respectively during the review period.

Ahead of the US Federal Reserve’s meeting, the Qatar Stock Exchange plummeted 105 points to close below 11,700 points on an across the board selling, particularly in the telecom, realty and industrials. The domestic funds were increasingly into net selling as the 20-stock Qatar Index shed 0.82% to 12,626.55 points, although it touched an intraday high of 12,774 points. The foreign funds’ weakened net buying had its influence in the market, whose year-to-date gains were at 8.61%. The Arab individuals’ net buying also waned in the bourse, whose capitalisation saw about QR4bn or 0.55% decline to QR710.98bn, mainly on the back of small and microcap segments. The Islamic index was seen declining faster than the other indices in the market, where the industrials and banking sectors together constituted about 70% of the total trading volume. The local retail investors continued to be net sellers but with lesser intensity in the bourse, which saw a total of 22,748 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.22mn changed hands across 12 deals. The foreign individuals’ net buying slackened 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 declined 0.82% to 25,863.27 points, All Share Index by 0.55% to 4,044.53 points and Al Rayan Islamic Index (Price) by 0.97% to 2,758.41 points. The real estate sector index tanked 1.26%, telecom (1.24%), industrials (1%), banks and financial services (0.37%), consumer goods and services (0.23%), transport (0.21%) and insurance (0.13%). Some 75% of the traded constituents were in the red with major shakers being Commercial Bank, Gulf International Services, Widam Food, Dlala, Aamal Company, QIIB, Masraf Al Rayan, Mannai Corporation, Baladna, Qatar National Cement, Qatari Investors Group, Industries Qatar, Mesaieed Petrochemical Holding, Qamco, QLM, Ezdan, Barwa, Ooredoo and Gulf Warehousing. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value. Nevertheless, QNB, Qatar Electricity and Water, Qatar Industrial Manufacturing, Zad Holding and Doha Insurance were among the gainers in the main market. The domestic institutions’ net selling increased noticeably to QR67.81mn against QR54.2mn on June 14. The foreign funds’ net buying declined markedly to QR90.58mn compared to QR108.83mn on Tuesday. The Arab individuals’ net buying weakened perceptibly to QR6.55mn against QR10.22mn the previous day. The foreign individuals’ net buying shrank notably to QR3.18mn compared to QR6.95mn on June 14. However, the Arab institutions’ net buying expanded significantly to QR1.81mn against QR0.73mn on Tuesday. The Gulf individuals were net buyers to the tune of QR1.22mn compared with net sellers of QR0.96mn the previous day. The Gulf funds turned net buyers to the extent of QR0.15mn against net profit takers of QR11.87mn on June 14. Qatari individuals’ net profit booking shrank considerably to QR35.68mn compared to QR59.7mn on Tuesday. Total trade volume in the main market fell 24% to 119.56mn shares, value by 10% to QR631.17mn and transactions by 13% to 23,938. The insurance sector’s trade volume plummeted 49% to 1.57mn equities, value by 48% to QR4.48mn and deals by 1% to 319. The real estate sector reported 43% plunge in trade volume to 11.29mn stocks, 37% in value to QR19.68mn and 51% in transactions to 889. The market witnessed 29% shrinkage in the industrials sector’s trade volume to 41.42mn shares, 24% in value to QR139.02mn and 27% in deals to 4,642. The consumer goods and services sector’s trade volume tanked 27% to 15.22mn equities, value by 11% to QR38.12mn and transactions by 22% to 1,194. There was 18% contraction in the transport sector’s trade volume to 5.62mn stocks, 28% in value to QR25.27mn and 6% in deals to 1,198. The telecom sector’s trade volume was down 11% to 2.65mn shares, value by 11% to QR16.33mn and transactions by 26% to 1,249. The banks and financial services sector saw a 2% dip in trade volume to 41.78mn equities but on 2% jump in value to QR388.26mn despite less than 1% fall in deals to 14,447. In the venture market, trade volumes grew more than 10-fold to 0.52mn stocks and value by eight-fold to QR2.8mn on more than tripled transactions to 105.

    * Qatar improves world ranking in economic performance: IMD Competitiveness Report   Doha has ranked seventh in government efficiency and ninth in economic performance among the 64 developed countries in the World Competitiveness Yearbook 2022, which is published annually by the International Institute for Management Development (IMD) in Switzerland. The country has been ranked 14th in business efficiency and also improved its ranking in infrastructure to 38th rank. Overall, Qatar has been ranked 18th among the reviewed countries. In the case of Saudi Arabia, it was ranked 24, the UAE 12 and Bahrain 30. In economic performance, Doha bettered its performance from 2021 when it was ranked 11. In 2022, Bahrain was ranked 39, Saudi Arabia 31 and the UAE 6. In government efficiency, Bahrain was ranked 39, Saudi Arabia 19 and the UAE three in 2022 and in business efficiency; their ranks were 24, 16 and 17, respectively, in the review year. In infrastructure, Bahrain was ranked 39, Saudi Arabia 34 and the UAE 26 in 2022, IMD report said. The ranking was based on national statistics provided to IMD as well as the result of surveying a sample of businesses manager who provided their views of Qatar’s economy competitive climate. Qatar’s rank has been "positively" influenced by multitude of factors including strong economic performance as represented by, Qatar’s low unemployment rate (ranked first), government subsidies (ranked first), cyber security (ranked first), high percentages of government budget surplus/deficit (ranked second), gross fixed capital formation (ranked second), international experience (ranked second), entrepreneurship (ranked third), and use of big data and analysis (ranked third). "Despite a slight decline in Qatar's ranking among the 64 countries, it continues to rank highly thanks to the flexibility of the Qatari economy in overcoming economic crises," said HE Dr Saleh bin Mohamed al-Nabit, President of the Planning and Statistics Authority. He said Qatar’s consecutive national development strategies, sets out clear goals and interventions in the areas of economic infrastructure and private sector development that will lead to economic and growth, and achieves Qatar National Vision 2030. The online survey took place from February to May. In 2022, IMD received as many as 6,031 responses from the 63 economies worldwide. The respondents assess the competitiveness issues by answering the questions on a scale of 1 to 6. The average value for each economy is then calculated and converted into a 0 to 1.

The Qatar Stock Exchange Tuesday gained more than 13 points, mainly on the back of buying interests of foreign institutions, amid uncertainties ahead of the US Federal Reserve’s meeting. The telecom, banking, consumer goods and realty counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.1% higher at 12,731.47 points, recovering from an intraday low of 12,641 points. The Arab individuals were seen net buyers in the market, whose year-to-date gains improved to 9.51%. The foreign individuals were increasingly bearish in the bourse, whose capitalisation saw about QR2bn or 0.27% jump to QR714.94bn, mainly on the back of midcap segments. The Islamic index was seen declining vis-a-vis gains in the other indices in the market, where the industrials and banking sectors together constituted about 66% of the total trading volume. The domestic funds’ weakened net selling had its influence in the bourse, which saw a total of 454,389 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.42mn changed hands across 73 deals. Nevertheless, local retail investors turned net profit takers 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 was up 0.1% to 26,078.19 points and All Share Index by 0.28% to 4,066.89 points, while Al Rayan Islamic Index (Price) was down 0.05% to 2,785.34 points. The telecom sector index gained 0.92%, banks and financial services (0.81%), consumer goods and services (0.78%) and realty (0.16%); while industrials declined 0.99%, insurance (0.27%) and transport (0.14%). Major gainers in the main market included QNB, Woqod, QLM, Ooredoo, Mesaieed Petrochemical Holding, QIIB, Widam Food and Qatar General Insurance and Reinsurance. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value. Nevertheless, more than 65% of the traded constituents in the main market were in the red and included Qatar Islamic Insurance, Industries Qatar, Qamco, Qatari Investors Group, Commercial Bank, Qatar First Bank, Qatar National Cement, Gulf International Services, Ezdan and Mazaya Qatar. In the juniour bourse, Mekdam Holding saw its shares depreciate in value. The foreign funds turned net buyers to the tune of QR108.83mn compared with net sellers of QR13.78mn on June 13. The Arab individuals were net buyers to the extent of QR10.22mn against net sellers of QR9.01mn on Monday. The foreign individuals’ net buying grew marginally to QR6.95mn compared to QR6.33mn the previous day. The Arab institutions turned net buyers to the tune of QR0.73mn against no major net exposure on June 13. The domestic institutions’ net selling declined noticeably to QR54.2mn compared to QR71.76mn on Monday. However, Qatari individuals were net sellers to the extent of QR59.7mn against net buyers of QR67.62mn the previous day. The Gulf funds turned net profit takers to the tune of QR11.87mn compared with net buyers of QR19.84mn on June 13. The Gulf individuals were net sellers to the extent of QR0.96mn against net buyers of QR0.77mn on Monday. Total trade volume in the main market rose 3% to 156.73mn shares, value by 4% to QR701.65mn and transactions by 24% to 27,396. The insurance sector’s trade volume more than tripled to 3.07mn equities and value almost tripled to QR8.56mn on more than doubled deals to 321. The transport sector’s trade volume soared 50% to 6.84mn stocks, value by 54% to QR35.19mn and transactions by 44% to 1,273. The banks and financial services sector reported 11% expansion in trade volume to 45.07mn shares, 21% in value to QR382mn and 23% in deals to 14,450. However, the telecom sector’s trade volume plummeted 38% to 2.98mn equities and value by 3% to QR18.26mn, while transactions almost doubled to 1,678. There was 10% contraction in the consumer goods and services sector’s trade volume to 20.83mn stocks, 43% in value to QR42.86mn and 24% in deals to 1,533. The real estate sector’s trade volume was down 3% to 19.96mn shares, whereas value gained 1% to QR31.11mn and transactions by 38% to 1,822. The market witnessed less than 1% fall in the industrials sector’s trade volume to 57.98mn equities and 11% in value to QR183.67mn but on 23% growth in deals to 6,319. In the venture market, trade volumes were seen flat at 0.05mn stocks; even as value shrank 10.26% to QR0.35mn and transactions by 20% to 36.