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The Qatar Stock Exchange (QSE) on Monday treaded a cautious path amidst fears of recession in the US and widening conflicts in the region.The Gulf institutions turned net profit takers as the 20-stock Qatar Index stood flat at 10,057.23 points.The real estate, insurance and consumer goods counters witnessed higher than average selling pressure in the main market, whose year-to-date were at 7.14%.As much as 77% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.73bn or 0.3% to QR579.07n on the back of microcap segments.The foreign institutions were seen net sellers in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.15mn trade across 18 deals.The Arab individuals were seen increasingly bearish in the main bourse, which saw no trading of treasury bills.The foreign retail investors were also seen increasingly net sellers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index was flat, even as the All Islamic Index declined 0.56% and the All Share Index by 0.15% in the main market.The realty sector index tanked 2.49%, insurance (1.03%), consumer goods and services (0.36%), telecom (0.16%), transport (0.06%) and banks and financial services (0.02%); while industrials rose 0.07%.Major losers in the main market included Ezdan, Inma Holding, Dlala, QLM, Masraf Al Rayan, Dukhan Bank, Qatar Oman Investment, Aamal Company, Qamco, Mazaya Qatar, Barwa, United Development Company, Vodafone Qatar and Gulf Warehousing.In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Industries Qatar, QIIB, Qatar Islamic Bank, Commercial Bank and Woqod were among the gainers in the main bourse.The Gulf institutions’ net profit booking increased substantially to QR56.13mn compared to QR7.6mn on August 4.The foreign institutions turned net sellers to the tune of QR37.46mn against net buyers of QR3mn the previous day.The Arab individual investors’ net selling expanded noticeably to QR18.43mn compared to QR15.91mn on Sunday.The foreign individual investors’ net selling grew significantly to QR13.67mn against QR2.95mn on August 4.The Arab funds’ net buying weakened marginally to QR0.12mn compared to QR0.13mn the previous session.However, the domestic institutions’ net buying strengthened drastically to QR127.26mn against QR43.48mn on Sunday.The Qatari individual investors’ net buying decreased markedly to QR1mn compared to QR17mn on August 4.The Gulf retail investors’ net profit booking eased perceptibly to QR0.71mn against QR3.14mn the previous day.Trade volumes in the main market rose 22% to 180.57mn shares, value by 58% to QR589.63mn and transactions by 62% to 20,587.In the venture market, trade volumes more than tripled to 0.84mn equities and value also more than tripled to QR1.6mn on 75% jump in deals to 56.

Output and new orders grew at solid pace at the start of July 2024 as demand strengthened in Doha's non-energy economy, while finance sector remained ‘bright spot’, according to the Qatar Financial Centre (QFC)."Qatar's non-energy private sector continued to expand at the start of the second half of 2024," according to the latest Purchasing Managers’ Index (PMI) survey data from the QFC, compiled by Standard and Poor's Global.Output and new orders both grew at solid rates that were broadly in line with their respective long-run survey trends, while firms were increasingly confident regarding the 12-month outlook, it said, adding they also made inroads into outstanding business, with backlogs falling the most since January 2023.The Qatar PMI indices are compiled from survey responses from a panel of 450 private sector entities belonging to manufacturing, construction, wholesale, retail, and services sectors; reflecting the structure of the non-energy economy according to official national accounts data.The PMI – a composite single-figure indicator of non-energy private sector performance – is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.The PMI registered 51.3 in July, down from June' 23-month high of 55.9 but still signalling an overall improvement in business conditions in the non-energy private sector economy. It was slightly below the long-run trend level of 52.3 (since April 2017).Signalling demand strengthening in Qatar’s non-energy economy, it said the level of incoming new orders expanded for the 17th time in 18 months, and at a solid rate that was broadly in line with the long-run survey trend. Companies reported new orders due to strong reputations, customer trust and high-quality goods and services.Finding that the sustained increase in new business in July resulted in another robust expansion in total activity; it said output has risen continuously for over four years except for two brief pauses in January and December last year.Despite rising demand for goods and services, companies were able to reduce the volume of outstanding orders at the fastest rate since January 2023, due to improved productivity.Confidence regarding the next 12 months strengthened to a 10-month high in July, it said, adding firms reported the planned opening of new locations, adoption of new technologies, investment in training and latest marketing strategies."Growth momentum eased at the start of the third quarter, though this correction was perhaps to be expected in the context of a surge in June when the PMI posted its second-highest level in the survey history when excluding the post-pandemic rebound and lead-up to the 2022 World Cup," said QFC Authority chief executive officer Yousuf Mohamed al-Jaida.Demand for inputs rose in July, as purchasing activity increased for the fifth successive month. Despite this, lead times improved to the greatest extent since July 2023 as companies developed relationships with suppliers. Input stocks declined for the fifth time in 2024 so far, albeit only marginally.Qatari financial services companies recorded further sharp expansions in total business activity and new contracts in July, albeit at softer rates than in June. The seasonally adjusted Financial Services Business Activity and New Business Indexes posted 56.2 and 57.2 respectively, above the figures for the private sector economy as a whole.Companies also remained strongly optimistic regarding the 12-month outlook, with sentiment unchanged since June at the highest level since July 2023. Meanwhile, employment growth was maintained for the 16th successive month."Financial services remained a bright spot in the economy, registering further sharp growth in new business and activity," al-Jaida said.

Reflecting the Middle East tensions, the Qatar Stock Exchange yesterday saw Gulf funds increasingly square off their position, which led to more than 23 points decline in key index.The industrials and real estate counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.23% to 10,130.75 points, although it touched an intraday high of 10,164 points.The Arab individual investors were increasingly net profit takers in the main market, whose year-to-date losses widened to 6.46%.As much as 60% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.17bn or 0.2% to QR585.81bn on the back of small cap segments.The foreign retail investors were increasingly bearish in the main market, which saw no trading of exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank).The foreign institutions’ weakened net buying had its influence in the main bourse, which saw no trading of treasury bills.The Gulf retail investors were increasingly into net profit booking in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover fell amidst higher volumes.The Total Return Index fell 0.23%, the All Islamic Index by 0.46% and the All Share Index by 0.17% in the main market.The industrials sector index tanked 1.26%, real estate (0.37%) and insurance (0.06%); while telecom gained 0.37%, transport (0.29%), banks and financial services (0.17%) and consumer goods and services (0.02%).Major losers in the main market included Qatar Industrial Manufacturing, Industries Qatar, Al Khaleej Takaful, Al Faleh Educational Holding, Baladna, Qatar German Medical Devices, Qatar Electricity and Water, Qamco and Ezdan.Nevertheless, QIIB, Doha Bank, Milaha, QNB and Inma Holding were among the movers in the main bourse.In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.The Gulf institutions’ net profit booking increased noticeably to QR14.09mn compared to QR5.36mn on July 31.The Arab individual investors’ net selling expanded significantly to QR9.64mn against QR0.36mn the previous day.The foreign individuals’ net profit booking strengthened markedly to QR3.77mn compared to QR0.56mn on Wednesday.The Gulf individual investors’ net selling grew perceptibly to QR3.04mn against QR1.04mn on July 31.The foreign funds’ net buying decreased substantially to QR22.78mn compared to QR35.47mn the previous day.However, the Qatari individuals turned net buyers to the tune of QR7.19mn against net sellers of QR27.7mn on Wednesday.The domestic institutions were net buyers to the extent of QR0.56mn compared with net sellers of QR0.45mn on July 31.The Arab funds had no major net exposure for the third straight session.Trade volumes in the main market rose 2% to 116.82mn shares, while value fell 28% to QR291.39mn and transactions by 10% to 11,766.The venture market saw a 57% contraction in trade volumes to 0.3mn equities, 57% in value to QR0.61mn and 54% in deals to 38.

Qatar's Hamad Port reported a stupendous 132% year-on-year jump in transshipment volumes in July, helping the country carve a special place in the regional maritime industry, according to official data.The country's ports saw a 46% increase in container handling in a "record-breaking" July on an annualised basis, primarily due to a 132% increase in transshipments, Mwani Qatar said in its social media handle X.This growth was accompanied by a rise in handling volumes of livestock and RORO (vehicles) as Qatar's maritime sector saw more vessels calling on Hamad, Doha and Al Ruwais ports in July 2024 compared with the previous-year period, according to the data from Mwani Qatar.The positive momentum in the ports reflects the optimistic outlook, especially for the country’s non-energy private sector, as indicated by the latest purchasing managers’ index of the Qatar Financial Centre.The number of ships calling on Qatar's three ports stood at 235 in July 2024, which saw a 3.98% increase year-on-year but was down 2.89% on a monthly basis.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 132 vessels call (excluding military) in the review period. A total of 1,558 ships had called on the three ports during the first seven months of this year.The container handling through the three ports stood at 146,752 TEUs (twenty-foot equivalent units), which saw 45.53 and 1.29% year-on-year and month-on-month jump respectively in July this year.The container terminals have been designed to address the increasing trade volume, enhance ease of doing business and support economic diversification, which is one of the most vital goals of the Qatar National Vision 2030.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 148,479 TEUs this July. The container volume at the three ports totalled 853,375 TEUs during January-July 2024.The three ports were seen handling 20,302 livestock in July 2024, which zoomed 271.29% on an annualised but shrank 65.66% on monthly basis. As many as 378,503 livestock heads were handled by three ports during the first seven months of this year.The three ports handled as many as 12,214 RORO in July 2024, which registered 102.08% growth year-on-year while it declined 22.1% month-on-month in July 2024. Hamad Port alone handled 12,192 units this July. A total of 68,158 RORO units were handled by three ports during January-July 2024.Qatar's automobile sector has been witnessing stronger sales, especially in heavy equipment, private motorcycles and private vehicles, according to the latest data of the National Planning Council.The general and bulk cargo handled through the three ports fell 20.85% on an annualised basis to 131,982 freight tonnes in July 2024. However, it was seen surging 131.82% month-on-month.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO, grains and livestock – handled 98,922 freight tonnes of breakbulk in July 2024. A total of 1.06mn freight tonnes of general and bulk cargoes were handled by the three ports during January-July 2024.The building materials traffic through the three ports stood at 22,204 tonnes this July, which declined 37.09% and 1.33% year-on-year and month-on-month respectively. As much as 193,362 tonnes of building materials were handled by Hamad, Doha and Al Ruwais ports during January-July this year.

The Qatar Central Bank (QCB)’s sustainability strategy for the financial sector could develop ESG (environment, social and governance) sukuk and bond, as the medium-term growth potential for ESG debt issuance in the Gulf region remains promising according to Fitch, a global credit rating agency."This (the QCB's announced ESG and sustainability strategy) could facilitate the country’s ongoing efforts in sustainable finance and could support the development of ESG sukuk and bonds," Fitch said in a report.Earlier, Saudi Arabia, Malaysia, the UAE, and Oman had also launched ESG frameworks and initiatives.The QCB strategy, which is in line with the Third Financial Sector Strategic Plan and as part of the Qatar National Vision 2030, suggests creating incentives for financial institutions and capital market participants to issue sustainable products and promoting fintechs with positive environmental or social impact.It is broadly based on three main pillars with the first pillar focusing on managing climate and ESG risks in the financial sector; the second encouraging capital investments in sustainable finance and the third aiming at incorporating ESG and sustainability practices into the QCB's internal operations.In the Islamic finance core markets (GCC countries, Malaysia, Indonesia, Turkiye and Pakistan), ESG sukuk issuance rose 13% year-on-year to $6.3bn at the end of first half (H1) of 2024.However, in the same markets ESG bonds issuance declined by 34% on an annualised basis to $7.8bn at end of H1-2024, the report said.Sukuk accounted for about 45% of the total ESG debt mix in the same group of countries (across all currencies) in the review period, it said, adding sukuk had a sizeable share of the hard-currency ESG debt mix in Indonesia (second quarter of 2024: 59%), Malaysia (52%) and Saudi Arabia (48%), with the rest in bonds.About 69% ($29.7bn) of all outstanding ESG sukuk was in hard currency – mostly US dollars – representing a sizeable share (12.9%) of global outstanding sukuk in H1-2024. The ESG sukuk in the GCC reached $18.5bn outstanding, or 43% of global ESG sukuk.Fitch said the medium-term growth potential for ESG debt issuance remains promising, fuelled by governments’ increasing commitment to sustainability and issuers’ aims to meet ESG mandates and funding diversification plans.However, the ESG debt segment is at a much earlier stage of adoption than in developed markets."We forecast both lower oil prices and interest rates cuts in the third quarter of 2024, which may contribute to a rise in debt, including ESG sukuk, over Q4-2024–Q1-2025," Fitch said.

Qatar Chamber is currently hosting the ‘Future Entrepreneurs Camp’, which will run until August 11, aiming at developing entrepreneurship and innovation for youth.The event is being organised by the Qatar Chamber in co-operation with the Youth Entrepreneurs Club (under the umbrella of the Ministry of Sports and Youth) and the Center for Entrepreneurship and Organisational Excellence at Qatar University.The event provides an interactive and educational environment to develop entrepreneurial ideas, enhance leadership skills and teamwork, and encourage effective communication and critical thinking. In addition, it offers a good opportunity for participants to connect with entrepreneurs and professionals in this field.Noora al-Awlan, Director of the Research and Studies Department, took special note of the club’s role in supporting entrepreneurs, developing their skills, and transforming their ideas into enterprises that benefit the national economy.She said the chamber’s commitment to supporting young entrepreneurs stems from its role as a representative of the private sector and due to the fact that it aligns with its interest in bringing up a generation of innovative and qualified youth who will be successful entrepreneurs in the future.Dr Ibrahim Khalid al-Sulaiti, President of the Youth Entrepreneurs Club, said the camp represents an excellent opportunity for exchanging expertise, gaining skills, and exploring talents encouraging entrepreneurs to achieve their ambitions.

The Qatar Stock Exchange (QSE) yesterday opened the week on a stronger note with its key index gaining more than 37 points on an across the board buying, notably in the telecom, industrials and banking counters.The foreign funds were seen net buyers as the 20-stock Qatar Index gained 0.37% to 10,135.75 points, recovering from an intraday low of 10,093 points.The foreign individuals were increasingly net buyers in the main market, whose year-to-date losses truncated to 6.42%.More than 63% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.86bn or 0.32% to QR586.8bn on the back of small and microcap segments.The domestic institutions continued to be bullish but with lesser vigour in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank), valued at QR0.05mn change hands across nine transactions.The Arab individual investors were seen net sellers in the main bourse, which saw no trading of treasury bills.The local retail investors turned net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the main barometer but slower than the other indices in the main bourse, whose trade turnover and volumes were on the decline.The Total Return Index rose 0.56%, the All Islamic Index by 0.42% and the All Share Index by 0.48% in the main market.The telecom sector index soared 1.03%, industrials (0.6%), banks and financial services (0.47%), consumer goods and services (0.47%), real estate (0.42%), insurance (0.19%) and transport (0.16%).Major gainers in the main market included Baladna, Qatar Industrial Manufacturing, Mekdam Holding, Ooredoo, Qatar Electricity and Water, Commercial Bank and Medicare Group. In the junior bourse, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Ahlibank Qatar, Dlala, QLM, Qatar Oman Investment and Aamal Company were among the shakers in the main market.The foreign institutions turned net buyers to the tune of QR4.79mn compared with net sellers of QR23.93mn on July 25.The foreign individual investors’ net buying rose marginally to QR0.23mn against QR0.09mn the previous trading day.The Gulf institutions’ net profit booking weakened noticeably to QR2.32mn compared to QR3.9mn last Thursday.However, the Arab retail investors were net sellers to the extent of QR5.71mn against net buyers of QR0.32mn on July 25.The Qatari individuals turned net sellers to the tune of QR3.17mn compared with net buyers of QR17.2mn the previous trading day.The Gulf individual investors’ net selling strengthened marginally to QR1.58mn against QR1mn last Thursday.The Arab funds were net profit takers to the extent of QR0.35mn compared with net no major net exposure on July 25.The domestic institutions’ net buying weakened noticeably to QR8.12mn against QR11.19mn the previous trading day.Trade volumes in the main market fell 21% to 79.51mn shares, value by 30% to QR208.81mn and transactions by 28% to 8,682.The venture market saw 46% contraction in trade volumes to 0.46mn equities, 49% in value to QR0.91mn and 52% in deals to 41.

Qatar Islamic Bank (QIB) and Qatar Airways privilege club have introduced new features to their co-branded cards.This new initiative comes as part of QIB's ongoing commitment to provide exceptional value and service to increase the product value proposition to cardholders."These exclusive benefits elevate our portfolio of QIB Qatar Airways co-branded cards, offering innovative features and unmatched privileges," according to D. Anand, QIB’s General Manager – Personal Banking Group.The new features offered to cardholders include the opportunity to fast track their privilege club tier, collect Qpoints on credit card spends and enjoy additional bonus Avios on their first Qatar Airways flight booked with the co-branded credit cards.New cardholders of the Visa Signature cards will be upgraded to privilege club gold tier when they spend QR100,000 within the first six months, and new cardholders of the Visa platinum cards will be upgraded to privilege club silver tier when they spend QR60,000 within the first six months.The gold and silver tiers will unlock exclusive privileges such as priority check-in and boarding, extra baggage allowance, complimentary lounge access and much more.After completing their first Qatar Airways flight booked with their co-branded credit cards on qatarairways.com or the Qatar Airways mobile app, new cardholders of the Visa signature and Visa platinum cards will also collect additional bonus Avios.New cardholders travelling on first or business class will collect 10,000 additional bonus Avios and new cardholders travelling on economy class will collect 5,000 additional bonus Avios.New and existing QIB Qatar Airways co-brand signature card will earn one Qpoint for every 400 Avios earned by the customer on his co-brand card spends.While new and existing QIB Qatar Airways co-brand Platinum card will earn one Qpoint for every 450 Avios earned by the customer on his co-brand card spends, elevating the opportunities with privilege club as Qpoints enable members to upgrade or retain their tier with the loyalty programme.QIB and Qatar Airways co-branded cardholders continue to collect Avios on their everyday spends and enjoy their existing benefits of complimentary access to airport lounges worldwide through LoungeKey.Cardholders can also link their cards to privilege club accounts and start collecting and spending Avios across a wide range of shopping, dining and entertainment partners."The additional benefits to QIB Airways co-branded credit cardholders are an extension of our strategic relationship that will provide cardholders with further new avenues to enhance their travel experiences with Qatar Airways," said Thomas Vadakedath, senior vice-president (Loyalty) at Qatar Airways.

Doha is inching closer to digital assets framework, paving way for legal recognition of digital assets, a move to support the country's digital economy strategy, according to a senior official of the Qatar Financial Centre (QFC)."With active involvement from many interest technology firms and industry stakeholders, we have developed a solid framework for tokenizing real-world assets such as securities, debt capital market instruments, investments, sukuk, and other asset classes. The framework is expected to be finalised and enacted by Q4 of this year," QFC Chief of Financial Services Sector Henk Jan Hoogendoorn told in an interview that appeared in a newsletter of World Alliance of International Financial Centers.Qatar is contemplating legal recognition of digital assets as part of efforts to put in place legislation for a tokenisation framework. In this regard, the QFC Regulatory Authority and the QFC Authority jointly developed a QFC digital assets framework to support Qatar’s digital economy strategy and the continued development of the QFC as a leading financial and business centre in the Middle East.The QFCRA and QFCA had sought public comments from firms and industry practitioners on the structure, content, and practitioner usability of the proposed framework and the deadline to submit the responses was January 2, 2024.The framework is designed to develop a legal and regulatory framework for digital assets through the establishment of a tokenisation framework in the QFC that will provide legal certainty and a trusted technology environment for digital assets.It seeks to provide legal recognition of digital assets and address issues as ownership of the underlying assets, custody arrangements, the transfer of ownership, trading and exchange of digital assets and smart contracts.The proposed digital assets framework is being developed on a phased manner with the first phase focusing on the establishment of legislation to provide for a QFC tokenisation framework.It is envisaged that subsequent phases will focus on building out the detailed regulatory framework for specific activities and products.The proposed rules primarily make provision for the treatment of tokens, representing underlying that are specified products under the QFC financial services regulations.The proposed regulations establish the concept of tokens and what constitutes a permitted token. The regulations also contain provisions relating to transfer of tokens, token ownership, and rights in the underlying and various definitions for the types of token service providers that will be subject to the proposed licensing framework in the QFC.QFC recently launched the Digital Assets Lab, which is part of its efforts to foster innovation, research, and development in the financial sector and the digital assets sphere, Hoogendoorn said, adding this initiative resonates with the Qatar Fintech Strategy and Qatar Central Bank's proactive approach to adopting innovative technologies.The lab provides a collaborative space where start-ups, businesses, and researchers can explore and create innovative solutions, products, and services related to digital assets and distributed ledger technologies. It aims to position Qatar as a leading hub for digital innovation by offering a comprehensive platform for promoting the adoption of emerging technologies across sectors, he said in the interview.

Earnings expectations and the interim dividend announcements were seen lifting the sentiments in the Qatar Stock Exchange (QSE), which closed this week on a higher note, even as shakers outnumbered movers.The telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.64% this week which saw the International Monetary Fund say that the World Cup has accelerated Qatar’s economic diversification into non-hydrocarbon sectors and the newly created infrastructure can be leveraged to chart a new path for diversification in sectors beyond the oil and gas industries for further economic growth.The bullish grip of the Arab individuals was instrumental in lifting the overall mood in the main bourse this week which saw Doha Bank report QR432.33mn net profit in the first half (H1) of 2024.The domestic institutions’ weakened net profit booking had its influence in the main market this week, which saw Vodafone Qatar ring in net profit of QR293.17mn in H1-2024.The foreign institutions continued to be net buyers but with lesser intensity in the main bourse this week which saw Aamal Company’s H1-2024 net profit at QR188.36mn.However, the local retail investors were increasingly bearish in the main market this week which saw Commercial Bank closes $500mn syndicated loan facility.The Gulf funds were seen increasingly into net profit booking in the main bourse this week which saw United Development Company register net profit of QR145mn in H1-204.The Gulf retail investors were also seen increasingly net sellers in the main market this week which saw a total of 0.01mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.03mn trade across 10 deals.The foreign individuals were increasingly net profit takers in the main bourse this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.09mn change hands across nine transactions.The Islamic index was seen gaining slower than the other indices in the main market this week which saw the banks and consumer goods sectors together constitute about 52% of the total trade volumes.Market capitalisation gained QR4.68bn or 0.81% to QR584.94bn on the back of mid and small cap segments this week, which saw no trading of sovereign bonds.Trade turnover and volumes were on the decline in the main market this week which saw no trading of treasury bills.In the case of venture market, trade turnover and volumes were on a slippery path this week, which saw Baladna report net profit of QR100.42mn in H1-204.The Total Return Index rose 0.69%, the All Share Index by 0.83% and the All Islamic Index by 0.24% this week which saw Gulf Warehousing’s net profit at QR100.35mn in H1-2024.The telecom sector index shot up 1.73%, banks and financial services (1.59%), insurance (0.33%), industrials (0.17%) and transport (0.02%); while real estate declined 1.67% and consumer goods and services 0.34% this week which saw Lesha Bank announce net profit of QR54.13mn in H1-2024.Major shakers in the main bourse included QLM, Baladna, QNB, Ooredoo, QIIB, Inma Holding, Qatar Industrial Manufacturing, Industries Qatar and Milaha. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week which saw global credit rating agency Capital Intelligence (CI) affirm Qatar's long-term (LT) foreign currency rating and LT local currency rating at ‘AA’.Nevertheless, Ezdan, Doha Bank, Qatari Investors Group, Medicare Group, Woqod, Widam Food, Mesaieed Petrochemical Holding, Qamco, Mazaya Qatar and Nakilat were among the losers in the main market. In the junior bourse, Techno Q saw its shares depreciate in value this week which saw CI forecast that Qatar's short-to-medium-term growth outlook remains “relatively favourable” with real gross domestic product slated to grow by an average of 3.3% in 2024-26.The Arab retail investors turned net buyers to the tune of QR8.47mn against net profit takers of QR12.68mn the week ended July 18.The domestic funds’ net selling declined significantly to QR40.71mn compared to QR70.73mn the previous week.However, the local individuals’ net profit booking grew substantially to QR56.17mn against QR35.41mn a week ago.The Gulf institutions’ net selling expanded marginally to QR29.27mn compared to QR28.74mn the week ended July 18.The foreign retail investors’ net profit booking grew marginally to QR11.97mn against QR11.51mn the previous week.The Gulf individuals’ net selling shrank strengthened markedly to QR6.08mn compared to QR2.66mn a week ago.The foreign institutions’ net buying decreased noticeably to QR135.74mn against QR161.75mn the week ended July 18.The Arab institutions had no major net exposure compared with net profit takers of QR0.02mn the previous week.The main market witnessed a 33% plunge in trade volumes to 545.53mn shares, 29% in value to QR1.45bn and 26% in deals to 58,573 this week.In the venture market, trade volumes tanked 54% to 3mn equities, value by 54% to QR5.91mn and transactions by 38% to 312.

Qatar's $2.5bn green bond has driven the other Gulf Co-operation Council (GCC) countries to scout for sustainable debt, as the aggregate issuances (including the green bonds and sukuks) from the region is slated to breach $150bn this year, according to Kamco Invest, a regional economic think-tank."Green bonds remain one of the areas of interest for the GCC issuers with this year’s issuance by Qatar government," Kamco Invest said in its latest report.HSBC was one of the arrangers of the green bond and said other countries in the GCC could follow either this year or next. Oman’s ministry of finance has already prepared a sustainable finance framework under which it intends to borrow.Qatar, which started issuance of green instruments after a gap of three years, topped this year with total issuances of $2.5bn, followed by the UAE and Kuwait with green issuances of $1.8bn and $1bn, respectively.Qatar's debut green deal was allocated into two segments, the first for $1bn for a five-year period with 30 basis points above the US treasury bonds and the second for $1.5bn for a 10-year period with 40 basis points.Qatar’s HE the Minister of Finance Ali bin Ahmed al-Kuwari had said Qatar decided to issue green bonds “mainly to send a strong statement” of its efforts to tackle climate change.The aggregate issuances of green bonds and sukuk in the GCC reached $6.1bn in the first half (H1) of 2024 compared with record issuances of $17.3bn during the whole of 2023.In terms of type of issuer, governments in the region took the lead with total green bonds issuances reaching $3.25bn compared to corporate issuances of $2.8bn. Comparatively, the issuance of green bonds reached $387bn during H1-2024, according to a Bloomberg report, once again led by an increase in issuances from governments.Expecting a record year for the GCC as (total) issuances during H1-2024 have already exceeded last year‘s level; Kamco Invest said: "We expect aggregate issuances to breach the $150bn mark by the end of the year as corporate issuances are expected to tap the market towards the end of the year as rate cuts are implemented."Sovereign issuances, meanwhile, are expected to retreat as compared to H1-2024 levels. The remainder of the year would see maturities of $24.8bn that is almost equally split between governments and corporates, according to the report.Aggregate issuances during the first six months of 2024 stood at a record high of $113.7bn, almost double the issuances during H1-2023, Kamco said, adding the increase was mainly led by higher government issuances of $62.1bn during H1-2024 against $24.4bn during H1-2023. On the other hand, corporate issuances also increased, albeit at a smaller rate of 46.5% or by $16.4bn to $51.6bn during H1-2024.The aggregate GCC bond issuances went up by 65.2% year-on-year to $58.5bn in H1-2024. Sukuk issuances, on the other hand, more than doubled with a solid growth to $55.2bn during H1-2024.

Global weakening of oil prices had its reflection on the Gulf bourses, including the Qatar Stock Exchange, which on Thursday lost more than 39 points.The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.39% to 10,098.36 points, although it touched an intraday high of 10,137 points.The realty, consumer goods, telecom and transport counters saw higher than average selling in the main market, whose year-to-date losses widened to 6.76%.More than 67% of the traded constituents were in the red in the main bourse, whose capitalisation shrank QR1.19bn or 0.2% to QR584.94bn on the back of small cap segments.The Arab and foreign retail investors’ weakened net buying had its influence on the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank), valued at QR0.09mn change hands across 11 transactions.The Gulf institutions continued to be net profit takers but with lesser intensity in the main bourse, which saw no trading of treasury bills.The local retail investors and domestic funds were seen bullish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index shed 0.33%, the All Islamic Index by 0.6% and the All Share Index by 0.23% in the main market.The real estate index tanked 1.54%, consumer goods and services (0.97%), telecom (0.74%), transport (0.4%) and banks and financial services (0.18%); while industrials and insurance gained 0.23% and 0.15% respectively.Major losers in the main bourse included United Development Company, Woqod, Vodafone Qatar, Doha Bank, Qatar Electricity and Water, Qatar Islamic Bank, Dukhan Bank, Qatar German Medical Devices and Estithmar Holding. In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Industries Qatar, QLM, Al Meera, Dlala and Qatar Oman Investment were among the movers in the main market. In the junior bourse, Al Mahhar Holding saw its shares appreciate in value.The foreign institutions turned net sellers to the tune of QR23.93mn compared with net buyers of QR20.53mn on July 24.The Arab retail investors’ net buying declined significantly to QR0.32mn against QR3.17mn the previous day.The foreign individual investors’ net buying eased marginally to QR0.09mn compared to QR0.31mn on Wednesday.However, the Qatari individuals were net buyers to the extent of QR17.2mn against net sellers of QR2.67mn on July 24.The domestic funds turned net buyers to the tune of QR11.19mn compared with net sellers of QR11.52mn the previous day.The Gulf institutions’ net profit booking weakened noticeably to QR3.9mn against QR7.65mn on Wednesday.The Gulf retail investors’ net selling decreased perceptibly to QR1mn compared to QR2.17mn on July 24.The Arab institutions continued to have no major net exposure for the ninth straight session.Trade volumes in the main market fell 13% to 100.12mn shares, while value rose less than 1% to QR300.13mn and transactions by 5% to 12,005.The venture market saw a 21% jump in trade volumes to 0.85mn equities and 30% in value to QR1.77mn but on 18% contraction in deals to 85.

The Qatar Stock Exchange yesterday treaded almost a flat path amidst buying interests in four of the seven sectors, and notably in the consumer goods and banking counters.The Gulf institutions were seen increasingly net sellers as the 20-stock Qatar Index shed 0.03% to 10,137.45 points, but recovering from an intraday low of 10,122 points.The Gulf individuals were also increasingly bearish in the main market, whose year-to-date losses were at 6.4%.As much as 49% of the traded constituents were in the red in the main bourse, whose capitalisation was down QR0.12bn or 0.02% to QR586.13bn on the back of microcap segments.The foreign funds’ substantially weakened net buying had its influence on the main market, which saw as many as 7,091 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.02mn change hands across four transactions.The local retail investors continued to be bearish but with slackening grip in the main bourse, which saw no trading of treasury bills.The domestic funds continued to be net sellers but with lesser vigour in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the main barometer in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index was down 0.03% and the All Islamic Index by 0.13%, while the All Share Index was up 0.03% in the main market.The industrials sector index declined 0.73% and realty 0.31%; whereas consumer goods and services gained 0.39%, banks and financial services (0.33%), insurance (0.13%) and telecom (0.07%). The transport index was rather unchanged.Major losers in the main market included Mekdam Holding, Alijarah Holding, Industries Qatar, Doha Bank, Qatar National Cement, Ezdan, Mazaya Qatar, Gulf Warehousing and Nakilat.Nevertheless, Medicare Group, Qatar Industrial Manufacturing, Al Khaleej Takaful, Widam Food and Baladna were among the gainers in the main bourse.In the venture market, Al Mahhar Holding saw its shares appreciate in value.The Gulf institutions’ net profit booking strengthened noticeably to QR7.65mn compared to QR1.97mn on July 23.The Gulf retail investors’ net selling increased perceptibly to QR2.17mn against QR1.34mn the previous day.The foreign institutions’ net buying declined substantially to QR20.53mn compared to QR52.53mn on Tuesday.However, the Arab individuals were net buyers to the tune of QR3.17mn against net profit takers of QR0.35mn on July 23.The foreign retail investors turned net buyers to the extent of QR0.31mn compared with net sellers of QR0.63mn the previous day.The Qatari individual investors’ net selling weakened drastically to QR2.67mn against QR24.58mn on Tuesday.The domestic institutions’ net profit booking shrank markedly to QR11.52mn compared to QR23.66mn on July 23.The Arab institutions continued to have no major net exposure for the eighth straight session.Trade volumes in the main market fell 3% to 115.16mn shares, while value rose 3% to QR298.71mn amidst 10% lower transactions at 11,504.The venture market saw a 13% jump in trade volumes to 0.7mn equities, 15% in value to QR1.36mn and 96% in deals to 104.

Climate change and artificial intelligence (AI) are the two critical issues, which are likely to shape the outcome of judgements of global courts, according to a judge of Qatar International Court and Dispute Resolution Centre (QICDRC)."These two subjects are not simply national challenges. They also have international dimensions, which require a collective and somewhat unified response from courts worldwide," Dr Muna al-Marzouqi, a judge of the QICDRC, said in an article that featured in the LexisNexisME newsletter regarding the fifth full meeting of SIFoCC (Standing Forum of International Commercial Courts).In order to address climate change, she said there was a need for coordinated legal framework, which would effectively mitigate its impacts.The use of AI in a legal context also raises important ethical and legal considerations that demand global standards and cooperation, said al-Marzouqi, who is also associate vice president for Academic Planning and Quality Assurance, Qatar University."I expect the QICDRC, along with other international courts, will increasingly look to tackle these issues in order to better serve our planet and uphold the integrity of legal system," according to her.The judge said QICDRC is also constantly developing its rules and procedures to make these relationships better among commercial courts, mediation and arbitration.Recalling the recently held meeting of the SIFoCC in Doha, she said it highlighted the way in which judicial bodies can help to encourage alternative dispute resolution (ADR) methods, which are often more efficient and effective than traditional litigation.ADR methods offer parties the flexibility to resolve disputes in a less adversarial and more cost-effective way, according to al-Marzouqi."These methods can also significantly reduce the burden of courts, speed up the resolution process, and provide outcomes which are satisfactory for the parties involved," she said.However, it was not just a one sided approach, she said, adding there were also best practices and approaches that the QICDRC has been taking and these included the role of the registry and the work it has done on the Maroon Book, which is the first comprehensive review of proceedings before a court in its jurisdiction."There was also interest in the way we have used automation to support case filing and case management procedures. Automation now plays a crucial part in supporting parties who are filing submissions, minimising errors and helping to manage time effectively," al-Marzouqi said.This transformation has also supported QIDCRC’s broader goal of enhancing access to justice and improving the overall effectiveness of the judicial system, according to her.

A higher than average demand, especially in the real estate, telecom and transport counters, led the Qatar Stock Exchange (QSE) continue in the positive trajectory for the second straight session.The foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index rose about 20 points or 0.2% to 10,140.42 points, recovering from an intraday low of 10,123 points.The Gulf institutions’ weakened net profit booking had its influence in the main market, whose year-to-date losses truncated further to 6.37%.As much as 50% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR0.89bn or 0.15% to QR586.25bn on the back of microcap segments.The foreign individuals’ lower net selling had its say in the main market, which saw as many as 3,000 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.07mn change hands across one transaction.The local retail investors’ bearish grip was seen slackening in the main bourse, which saw no trading of treasury bills.However, the domestic funds were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the main barometer in the main bourse, whose trade turnover fell amidst higher volumes.The Total Return Index gained 0.19%, the All Islamic Index by 0.17% and the All Share Index by 0.16% in the main market.The real estate sector index rose 0.36%, telecom (0.34%), transport (0.22%), industrials (0.22%), industrials (0.2%) and banks and financial services (0.19%); while insurance declined 0.53% and consumer goods and services 0.21%.Major gainers in the main market included Mekdam Holding, Alijarah Holding, QLM, Qatar Industrial Manufacturing and Qatar Electricity and Water. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Medicare Group, Dlala, Al Faleh Educational Holding, Zad Holding and Widam Food were among the shakers in the main bourse.The Qatari individual investors’ net selling declined markedly to QR24.58mn compared to QR27.34mn on July 22.The foreign retail investors’ net profit booking shrank noticeably to QR0.63mn against QR8.6mn the previous day.The Gulf institutions’ net selling weakened significantly to QR1.97mn compared to QR7.53mn on Monday.However, the domestic institutions’ net profit booking expanded considerably to QR23.66mn against QR13.54mn on July 22.The Gulf retail investors turned net sellers to the tune of QR1.34mn compared with net buyers of QR0.49mn the previous day.The Arab individuals were net profit takers to the extent of QR0.35mn against net buyers of QR1.95mn on Monday.The foreign institutions’ net buying eased marginally to QR52.53mn compared to QR54.59mn on July 22.The Arab institutions continued to have no major net exposure for the seventh straight session.Trade volumes in the main market soared 20% to 118.67mn shares, while value shrank 5% to QR290.66mn and transactions by 1% to 12,826.The venture market saw about 16-fold jump in trade volumes to 0.62mn equities and value by more than 13-fold to QR1.18mn on more than tripled deals to 53.

Buoyed by foreign institutions’ increased buying interests, the Qatar Stock Exchange (QSE) yesterday gained more than 60 points and its key index surpassed 10,100 levels.An across the board buying – particularly in the transport, banking and consumer goods sectors – led the 20-stock Qatar Index 0.6% to 10,120.68 points, recovering from an intraday low of 10,073 points.The Gulf retail investors turned net buyers in the main market, whose year-to-date losses truncated to 6.56%.The Gulf institutions’ weakened net selling had its influence in the main bourse, whose capitalisation added QR3.34bn or 0.57% to QR585.36bn on the back of mid and small cap segments.The Arab individuals continued to be net buyers but with lesser intensity in the main market, which saw as many as 4,537 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.61mn change hands across three transactions.The local retail investors were increasingly net profit takers in the main bourse, which saw no trading of treasury bills.The foreign individuals were also increasingly bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index gained 0.6%, the All Islamic Index by 0.45% and the All Share Index by 0.62% in the main market.The transport sector index soared 1.16%, banks and financial services (0.84%), consumer goods and services (0.72%), insurance (0.57%), telecom (0.26%), real estate (0.08%) and industrials (0.06%).Major gainers in the main market included Baladna, Nakilat, Beema, Zad Holding, QIIB, Commercial Bank, Dukhan Bank and Vodafone Qatar.Nevertheless, Medicare Group, Widam Food, QLM, Doha Bank and Alijarah Holding were among the shakers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.The foreign institutions’ net buying increased significantly to QR54.59mn compared to QR32.04mn on July 21.The Gulf retail investors turned net buyers to the tune of QR0.49mn against net profit takers of QR2.07mn on Sunday.The Gulf institutions’ net selling declined marginally to QR7.53mn compared to QR8.22mn the previous day.However, the Qatari individuals’ net selling strengthened markedly to QR27.34mn against QR18.8mn on July 21.The domestic institutions’ net profit booking expanded noticeably to QR13.54mn compared to QR3.17mn on Sunday.The foreign individual investors’ net selling grew perceptibly to QR8.6mn against QR3.15mn the previous day.The Arab retail investors’ net buying weakened notably to QR1.95mn compared to QR3.37mn on July 21.The Arab institutions continued to have no major net exposure for the sixth straight session.Trade volumes in the main market shrank 12% to 98.81mn shares, while value shot up 18% to QR305.91mn and transactions by 42% to 13,003.The venture market saw 94% plunge in trade volumes to 0.04mn equities, 94% in value to QR0.09mn and 72% in deals to 15.

The World Cup has accelerated Qatar’s economic diversification into non-hydrocarbon sectors and the newly created infrastructure can be leveraged to chart a new path for diversification in sectors beyond the oil and gas industries for further economic growth, the International Monetary Fund (IMF) has said.The public investment programme helped drive most of Qatar’s economic diversification over the past decade, contributing on average 5–6 percentage points annually to non-hydrocarbon real GDP (gross domestic product) growth, Ran Bi and Ken Miyajima, who are in the IMF’s Middle East and Central Asia Department, said in a report."Going forward, the newly created infrastructure can be leveraged to generate new jobs, businesses, and opportunities in sectors beyond the oil and gas industries for further economic growth," the authors said.Qatar continues to enjoy economic gains after hosting the 2022 FIFA World Cup, which boosted its global profile, IMF said, adding visitor arrivals in 2023 were nearly twice pre-pandemic levels, and tourism this year reached new heights.Hosting the World Cup has accelerated Qatar’s economic diversification into non-hydrocarbon sectors as its massive public infrastructure investment programme since 2011 built out everything from ports and roads to metro and airports, they said, adding the cost of stadiums represented only about 5% of the total infrastructure investment, by some estimates.The IMF analysis suggests that reforms to attract more skilled foreign workers, ease access to financing for small and medium enterprises, and encourage competition and trade could generate the most significant growth gains.Simulations suggest that a comprehensive package of labour market and business environment reforms could boost annual non-hydrocarbon growth by close to three percentage points over the medium term.To maximise gains, the authorities should ensure that complementary reforms are properly sequenced and consistent with the country’s capacity for implementation. Continuing progress with digitalisation and climate actions can generate new sources of growth and enhance sustainability, it added.Highlighting that structural reforms have also accelerated; the report said Qatar has enhanced labour protection for foreign workers, who account for about 95% of the labour force.Qatar was the first Gulf Cooperation Council country to abolish Kafala, a sponsorship system for foreign workers that limits their mobility. The government also implemented initiatives to improve business efficiency and attract foreign direct investment, according to the report.Furthermore, Qatar has advanced digitalization efforts significantly, ranking 16th among 198 countries in the World Bank’s GovTech Maturity Index.Looking ahead, Qatar’s key challenge remains transitioning from public sector-led growth to a more diversified, private sector-driven model, as envisioned by Qatar National Vision 2030, it said.Achieving this transformation requires bold reforms to boost productivity, foster a more conducive business environment, and leverage progress in digitalisation and climate actions, according to the IMF’s latest annual economic review.Qatar’s Third National Development Strategy (2024-30) was launched in January 2024 and has set the strategic priorities in line with IMF advice.

Global credit rating agency Capital Intelligence has affirmed Qatar's long-term foreign currency rating (LT FCR) and LT local currency rating (LT LCR) at ‘AA’. The sovereign’s short-term (ST) FCR and ST LCR have been affirmed at ‘A1+’. The outlook for the ratings remains "stable".The ratings reflect Qatar’s very strong external balances and budgetary performance, supported by still favourable liquefied natural gas (LNG) prices.The ratings factors the country’s capacity to absorb external or financial shocks given the large portfolio of foreign assets held by the Qatar Investment Authority (QIA) and consequent comfortable net external creditor position when including these assets.The ratings continue to be supported by substantial hydrocarbon reserves, expanding LNG (liquefied natural gas) production and export capacity, and very high GDP (gross domestic product) per capita, as well as high and increasing official foreign reserves.Qatar's financial buffers remain large, benefitting from still favourable hydrocarbon prices, it said.Very large budget and current account surpluses have contributed to a very high net asset position, with QIA’s total assets estimated at around 175.3% of projected GDP and 163.4% of gross external debt this year – although an assessment of the quality and liquidity of these assets is hindered by limited transparency.Highlighting that the public finances remain strong, CI said the central government budget position is expected to post a very high surplus of 4.6% of GDP in 2024 against 4.8% in 2023."Moving forward, the budget surplus is expected to average at 4.1% of GDP in 2025-26, supported by an expected increase in LNG production capacity from the North Field and consequently, a lower fiscal breakeven hydrocarbon price," it said.While the reliance on hydrocarbon revenues remains a rating constraint, the sovereign has ample leeway to respond to severe fluctuations in hydrocarbon prices given the size of fiscal buffers and the degree of expenditure flexibility.The central government deposits stood at 13.2% of GDP in May 2024, while total government and government institution deposits in the domestic banking system alone were around 42.2% of GDP.According to CI, gross central government debt (including short-term treasury bills and bank overdrafts) is expected to decline further to 41.8% of GDP (144.7% of revenues) in 2024, from 44% in 2023 (147.4%), reflecting nominal GDP growth and a large primary budget surplus.The rating agency expects debt dynamics to remain favourable in the medium term, resulting in a further decrease in the central government debt-GDP ratio to 39.1% by 2026.Finding that external finances as "very strong", CI said the current account is slated to remain in a very large surplus of 13.2% of GDP in 2024 compared to 15.5% in 2023.The rating agency expects the current account to average at a very high – albeit narrowing – surplus of 10.3% of GDP in 2025-26, reflecting its expectation of a slight decline in hydrocarbon prices in the medium term. As a percentage of GDP, gross external debt is expected to decrease further to 107.4% in 2024 (from 114.3% in 2023).It is, however, projected to increase slightly to 181.5% of current account receipts (CARs) in 2024, against 179.6% in 2023, reflecting declining hydrocarbon exports.Official foreign exchange reserves rose to $68.3bn in May 2024 from $67.4bn in December 2023.(Ends)