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Thursday, February 13, 2025 | Daily Newspaper published by GPPC Doha, Qatar.
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 Santhosh V. Perumal
Santhosh V. Perumal
Santhosh V. Perumal, a postgraduate in Econometrics with an advance qualification in Capital Markets and Financial Services, is Gulf Times' journalist. His coverage areas are debt and equity, hydrocarbons, international trade, environment, banks, insurance and real estate. Previously, he was in New Delhi, India as Senior Finance Correspondent of PTI.
An across the board selling, particularly in the industrials, dragged the 20-stock Qatar Index 0.65% to 10,321.09 points, although it touched an intraday high of 10,352 points
Business
QSE key index falls 62 points; foreign funds turn net sellers

Reflecting the regional concerns over weak oil prices, the Qatar Stock Exchange (QSE) on Wednesday lost more than 62 points and capitalisation melted QR3.19bn.An across the board selling, particularly in the industrials, dragged the 20-stock Qatar Index 0.65% to 10,321.09 points, although it touched an intraday high of 10,352 points.The foreign funds were seen net profit takers in the main market, whose year-to-date losses widened to 4.7%.About 80% of the traded constituents were in the red in the main bourse, whose capitalisation melted 0.53% to QR596.08bn on the back of midcap segments.The Gulf institutions were seen bearish in the main market, which saw 5,058 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.01mn trade across four deals.The foreign individuals continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of treasury bills.The domestic institutions turned net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the main barometer in the main bourse, whose trade turnover and volumes were on the decline.The Total Return Index shed 0.6%, the All Share Index by 0.54% and the All Islamic Index by 0.57% in the main market.The industrials sector index lost 0.86%, banks and financial services (0.57%), telecom (0.27%), real estate (0.25%), insurance (0.25%), consumer goods and services (0.24%) and transport (0.18%).Major shakers in the main market included Commercial Bank, Qamco, Gulf International Services, Mesaieed Petrochemical Holding, Qatar German Medical Devices, Qatar Industrial Manufacturing, Industries Qatar, Aamal Company and Ezdan.Nevertheless, QLM, Lesha Bank, Medicare Group, Meeza and Milaha were among the gainers in the main bourse. In the venture market, Al Mahhar Holding saw its shares appreciate in value.The foreign institutions turned net sellers to the tune of QR11.57mn compared with net buyers of QR46.37mn on September 3.The Gulf institutions were net profit takers to the extent of QR3.67mn against net buyers of QR6.8mn the previous day.However, the domestic institutions turned net buyers to the tune of QR9.58mn compared with net sellers of QR21.27mn on Tuesday.The local retail investors were net buyers to the extent of QR8.29mn against net sellers of QR15.65mn on September 3.The foreign individual investors’ net selling declined noticeably to QR0.02mn compared to QR12.19mn the previous day.The Gulf retail investors’ net profit booking weakened perceptibly to QR0.32mn against QR1.53mn on Tuesday.The Arab individual investors’ net selling eased marginally to QR2.29mn compared to QR2.51mn on September 3.The Arab institutions had no major net exposure for the fourth straight session.Trade volumes in the main market declined 21% to 122.28mn shares, value by 28% and transactions by 14% to 12,565.The venture market saw 53% surge in trade volumes to 1.58mn equities, 56% in value to QR3.73mn and 9% in deals to 94.

QFC Authority chief executive officer Yousuf Mohamed al-Jaida.
Business
New businesses and employment surge lifts Qatar’s non-energy private sector: QFC PMI

Stronger inflows in new business and a surge in jobs signalled a stronger improvement in business conditions in Doha’s non-energy private sector economy, according to Qatar Financial Centre (QFC).The QFC purchasing managers’ index (PMI) – compiled from survey responses from a panel of around 450 private sector companies – compiled by Standard and Poor’s Global said demand for goods and services strengthened, driving a near-record increase in employment and another solid output expansion.Firms also continued to deplete outstanding business, and average wages rose at the fastest rate on record, said PMI, whose panel covers the manufacturing, construction, wholesale, retail, and services sectors, reflecting the structure of the non-energy economy according to official national accounts data.The headline PMI – a composite single-figure indicator of non-energy private sector performance and derived from new orders, output, employment, suppliers’ delivery times and stocks of purchases – found that overall cost pressures were the highest in four years, while charges for goods and services fell slightly and the 12-month outlook improved notably.The PMI rose to 53.1 in August, from 51.3 in July, which was above the long-run trend level of 52.3 (since April 2017).Highlighting that the employment component provided the largest boost to August’s headline figure, it said private sector jobs in Qatar rose strongly in August, reversing July’s slight fall and the workforce growth was the second-fastest on record, a tad below the peak in January 2019.“The PMI resumed its recent upward trajectory in August, mainly reflecting a surge in employment and stronger inflows in new business... Financial services continued to lead the way with the sharpest rise in new business in two years,” said QFC Authority chief executive officer Yousuf Mohamed al-Jaida. The job boost was accompanied by record wage pressures in August, as the seasonally adjusted staff costs index rose to a new high of 55.7. Non-staff cost pressures intensified with purchase price inflation at a 15-month high. Overall input price inflation hit a four-year high. In contrast, prices charged for goods and services fell in the latest period.Recruitment was influenced by a strengthening demand for Qatari non-energy goods and services. The level of incoming new orders expanded for the 18th time in 19 months, and at a strong rate that outperformed the long-run survey trend.The faster increase in new business in August supported another robust expansion in total activity. Output has risen continuously for over four years except for two brief pauses in January and December last year. While accepting new contracts, companies continued to reduce the volume of outstanding orders, albeit at slowest rate in the current seven-month sequence of backlog depletion.Confidence regarding the next 12 months strengthened notably in August, to the highest since March 2023, it said, adding positive sales forecasts were linked to government economic development policies, tourism, a rising expatriate population, construction and real estate projects, and Qatar’s attractiveness to international investors.The starting of new project implies higher demand for inputs in August, as purchasing activity increased for the sixth successive month, even as suppliers’ lead times improved to the greatest extent since December 2022. Input stocks declined for the sixth time in 2024 so far and at the fastest rate since November 2022.Qatari financial firms recorded booming demand for their services in August. The seasonally adjusted financial services new business index rose from 57.2 in July to 62.9, the fastest growth since August 2022. Companies were also increasingly optimistic regarding the 12-month outlook, with sentiment at the highest level since May 2023. There was also a notable boost to employment growth, which was the strongest in five years (56.4).

The industrials counter witnessed higher than average demand as the 20-stock Qatar Index rose 0.38% to 10,383.42 points Tuesday, recovering from an intraday low of 10,322 points
Business
US rate cut expectations drive QSE index near 10,400 points; M-cap adds about QR1bn

Expectations of the US rate cut continued to lift sentiments in the Qatar Stock Exchange (QSE), which Tuesday saw its key index gain 39 points to inch towards 10,400 points.The industrials counter witnessed higher than average demand as the 20-stock Qatar Index rose 0.38% to 10,383.42 points, recovering from an intraday low of 10,322 points.The Gulf institutions were seen net buyers in the main market, whose year-to-date losses truncated to 4.13%.As much as 56% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR0.9bn or 0.15% to QR599.27bn on the back of microcap segments.The local retail investors’ weakened net profit booking had its influence in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn trade across 12 deals.The foreign funds continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of treasury bills.The domestic institutions 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 other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index rose 0.38%, the All Share Index by 0.25% and the All Islamic Index by 0.31% in the main market.The industrials sector index gained 0.42%, banks and financial services (0.35%), real estate (0.35%), consumer goods and services (0.1%) and telecom (0.1%); while insurance and transport declined 0.54% and 0.27% respectively. Major gainers in the main market included Commercial Bank, Meeza, Gulf International Services, Qatar Industrial Manufacturing, Qatar Islamic Insurance, QIIB and Industries Qatar. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, QLM, Inma Holding, Lesha Bank, Milaha, Zad Holding and Qamco were among the shakers in the main bourse.The Gulf institutions turned net buyers to the tune of QR6.8mn compared with net sellers of QR3.02mn on September 2.The Qatari individual investors’ net selling declined significantly to QR15.65mn against QR43.79mn the previous day.However, the domestic institutions’ net profit booking grew substantially to QR21.27mn compared to QR8.92mn on Monday.The foreign retail investors were net sellers to the extent of QR12.19mn against net buyers of QR4.84mn on September 2.The Arab individuals’ net selling strengthened markedly to QR2.51mn compared to QR0.83mn the previous day. The Gulf individual investors’ net profit booking rose marginally to QR1.53mn against QR1.33mn on Monday. The foreign institutions’ net buying declined markedly to QR46.37mn compared to QR53.04mn on September 2.The Arab institutions had no major net exposure for the third straight session. Trade volumes in the main market was down less than 1% to 155.58mn shares, while value grew 1% to QR401.3mn and transactions by 3% to 14,575.The venture market saw 45% surge in trade volumes to 1.03mn equities, 46% in value to QR2.33mn and 28% in deals to 86.

Doha saw as many as 317,459 visitor arrivals in July 2024, registering 10.2% and 0.4% growth on yearly and monthly basis respectively, according to the official data
Business
Deluxe hotel apartments and four-star hotels in Qatar see improved room yield in July: NPC

Qatar’s hospitality sector saw improved (year-on-year) room yield in July 2024, particularly in the deluxe hotel apartments and four-star hotels; amidst jump in visitors, especially from Europe, the Americas and the Gulf region, according to the official data.The country’s hospitality sector saw a 7.35% year-on-year surge in room yield to QR219 in July 2024 as occupancy by 6% to 58%; but average room rate fell 4.09% to QR375, according to the figures released by National Planning Council (NPC).The four-star hotels room yield improved by 7.21% on a yearly basis to QR119 as the occupancy increased by 10% to 60%, even as the average room rate shrank 10.81% to QR198 in July 2024.However, the five-star hotels' room yield tanked 3.25% year-on-year to QR277 as average room rate were lower by 6.51% to QR546, even as occupancy grew 5% to 51% in the review period.The three-star hotels' room yield fell 2.52% on an annualised basis to QR116 this July as average room rate decreased by 7.78% to QR154 amidst 4% jump in occupancy to 75%.The two-star and one-star hotels reported 12.4% year-on-year contraction in room yield to QR113 as the average room rate shrank 4.2% to QR137 and the occupancy by 7% to 83% in July this year.The deluxe hotel apartments registered a 23.78% year-on-year surge in room yield to QR229 as occupancy improved 12% to 69% and average room rate by 2.45% to QR334 in July 2024.In the case of standard hotel apartments, room yield plummeted 33.33% on an annualised basis to QR108 in July 2024 with occupancy plunging 28% to 49% even as average room rate shot up 4.27% to QR220.Doha saw as many as 317,459 visitor arrivals in July 2024, growing 10.2% and 0.4% on yearly and monthly basis respectively in the review period. Visitors are those non-residents travelling to Qatar on a short-term basis for all purposes, including arrivals at borders under 15 different visit visa classes and also include business and leisure visa types while excluding work visas.The visitor arrivals from the Gulf Co-operation Council or GCC were 146,600 or 46% of the total; followed by other Asia (including Oceania) 66,340 (21%), Europe 54,417 (17%), the Americas 22,884 (7%), other Arab countries 20,383 (6%) and other African countries 6,835 (2%) in July 2024.On an annualised basis, the visitor arrivals from European countries were seen soaring 28.6%, the Americas by 18.1%, the GCC by 8.7%, other Asia (including Oceania) by 3.2% and other Arab countries by 1.6%; while those from other African countries were down 2.5% and other Arab countries by 1.6% in July 2024.On a month-on-month basis, the visitor arrivals from Europe shot up 18% and the Americas by 8.4%; even as those from other Asia (including Oceania) declined 7.1%, other African countries by 6%, other Arab countries by 5.2% and the GCC by 1.6% in the review period.

An across the board buying, especially in the banks and telecom counters, lifted the 20-stock Qatar Index 1.11% to 10,344.42 points on Monday, recovering from an intraday low of 10,232 points
Business
US rate cut hopes instill confidence as QSE surges 114 points; M-cap adds QR5.31bn

Rising investors’ confidence on an imminent expected rate cut by the US Federal Reserve had its reflection on the Qatar Stock Exchange (QSE), which on Monday saw its key index surge 114 points and capitalisation add QR5.31bn.An across the board buying, especially in the banks and telecom counters, lifted the 20-stock Qatar Index 1.11% to 10,344.42 points, recovering from an intraday low of 10,232 points.More than 65% of the traded constituents extended gains to investors in the main market, whose year-to-date losses truncated to 4.49%.The foreign funds were seen increasingly net buyers in the main bourse, whose capitalisation added 0.9% to QR598.37bn on the back of mid and small cap segments.The foreign individuals turned bullish in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.12mn trade across 10 deals.However, the local retail investors were seen increasingly net sellers in the main bourse, which saw no trading of treasury bills.The domestic institutions were 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 and volumes were on the increase.The Total Return Index rose 1.11%, the All Share Index by 1% and the All Islamic Index by 1.02% in the main market.The banks and financial services sector index shot up 1.32%, telecom (1.16%), industrials (1.01%), real estate (0.76%), transport (0.24%), insurance (0.06%) and consumer goods and services (0.05%).Major gainers in the main market included Qatar Oman Investment, Qatar Islamic Bank, Gulf International Services, Qatar Electricity and Water, Commercial Bank, QIIB, Widam Food, Mesaieed Petrochemical Holding, Barwa and Ooredoo. In the juniour bourse, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Ahlibank Qatar, Doha Insurance, Qatar Islamic Insurance, Qatar German Medical Devices and Mazaya Qatar were among the shakers in the main market.The foreign institutions’ net buying increased substantially to QR53.04mn compared to QR9.8mn on August 29.The foreign retail investors were net buyers to the tune of QR4.84mn against net sellers of QR6.76mn the previous day.However, the Qatari individuals’ net selling strengthened significantly to QR43.79mn compared to QR10.33mn on Sunday.The domestic institutions turned net sellers to the extent of QR8.92mn against net buyers of QR4.55mn on August 29.The Gulf institutions’ net selling expanded noticeably to QR3.02mn compared to QR0.61mn the previous day.The Gulf individual investors’ net profit booking grew perceptibly to QR1.33mn against QR0.06mn on Sunday.The Arab individuals turned net sellers to the tune of QR0.83mn compared with net buyers of QR3.4mn on August 29.The Arab institutions had no major net exposure for the second straight session.Trade volumes in the main market soared 78% to 155.74mn shares, value by 69% to QR395.84mn and transactions by 89% to 15,073.The venture market however saw 40% shrinkage in trade volumes to 0.71mn equities, 40% in value to QR1.64mn and 11% in deals to 67.

Qatar's ports recorded container volume of 114,912 TEUs with Hamad Port alone handling as much 99% of it in August, according to the data of Mwani Qatar
Business
Qatar’s ports see robust growth in RORO and livestock handling in August

Qatar's maritime sector saw a robust double-digit year-on-year growth in the handling of vehicles (RORO) and livestock this August, according to the official estimates.The country's ports recorded container volume of 114,912 TEUs (twenty foot equivalent units) with Hamad Port alone handling as much 99% of it during the review period, according to the data of Mwani Qatar.The number of ships calling on Hamad, Doha and Al Ruwais ports stood at 238 in August 2024, which saw 4.42% decrease year-on-year but was up 1.28% 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 115 vessels call (excluding military) in the review period. A total of 1,796 ships had called on the three ports during the first eight months of this year.The three ports handled as many as 10,805 RORO in August 2024, which registered 37.21% growth year-on-year while it declined 11.54% month-on-month. Hamad Port alone handled 10,788 units this August. A total of 78,963 RORO units were handled by three ports during January-August 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 three ports were seen handling 24,066 livestock in August 2024, which zoomed 39.67% and 18.54% on annualised and monthly basis respectively. As many as 402,569 livestock heads were handled by three ports during the first eight months of this year.The container handling through the three ports stood at 114,912 TEUs, which saw 4.19% and 21.7% year-on-year and month-on-month decline respectively in August 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.With a stacking area of 176,000 sqm, the container terminal 2 or CT2 is equipped with the latest advanced technology, including remote-operated ship-to-shore cranes, hybrid rubber-tyred gantries, and electric tractors.Hamad Port, which recently celebrated a huge milestone of exceeding 10mn TEUs since beginning operations in 2016, has rapidly evolved into a critical hub for international shipping, catering to the needs of all major global shipping lines.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 113,693 TEUs this August. The container volume at the three ports totalled 968,647 TEUs during January-August 2024.The general and bulk cargo handled amounted to 111,208 freight tonnes through the three ports, which shrank 30.55% and 15.74% year-on-year and month-on-month respectively in August 2024.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO, grains and livestock – handled 70,540 freight tonnes of breakbulk in August 2024. A total of 1.12mn freight tonnes of general and bulk cargoes were handled by the three ports during January-August 2024.The building materials traffic through the three ports stood at 13,100 tonnes this August, which tanked 71.57% and 41% year-on-year and month-on-month respectively. As much as 264,719 tonnes of building materials were handled by Hamad, Doha and Al Ruwais ports during January-August this year.

The Qatar Stock Excvhange is continuously working on developing investment tools by launching various initiatives that align with market needs and international best practices
Business
QSE introduces revised liquidity provider scheme; to cut liquidity costs

The Qatar Stock Exchange (QSE) has introduced a revised liquidity provider (LP) scheme, a move that significantly lowers liquidity costs and provides more depth in the order book.As part of revising the scheme, the QSE included the recent amendments and new criteria in the standardised and approved contracts for the LP activity, effective from September 1, 2024.These criteria will be reviewed on a semi-annual basis to ensure their alignment with international best practices and market needs, a bourse spokesman said.These amendments are part of a package of incentives offered by QSE to develop the LP activity in the Qatari market, contributing to increased liquidity and trading, attracting more investors, and enhancing the competitiveness of the Qatari market.This development is part of the ongoing efforts of the Qatar Financial Markets Authority (QFMA) and QSE to improve market efficiency and increase its appeal to both local and international investors, thereby contributing to the sustainable growth of the Qatari market.A LP is a licensed financial services company authorised to engage in liquidity provision activities, which enhance the liquidity of listed securities by continuously offering buy or sell prices for a specific security, in accordance with terms and conditions outlined in the agreement between the liquidity provider and the listed company."The introduction of the revised LP scheme is set to significantly lower liquidity costs and provide more depth in the order book, ensuring a more efficient, stable and transparent trading environment," the QSE spokesman said.As part of the incentive package, the QFMA recently introduced regulations for dividend distribution for listed joint-stock companies, allowing them to distribute interim dividends. In light of this step, some listed companies distributed semi-annual dividends in 2024."This important step enhances the attractiveness of the Qatari market by providing shareholders with more frequent returns on their investments, thereby increasing investor confidence and boosting trading activity in the market," the QSE spokesman said.Interim dividends provide a steady return on investment before the company’s final year-end dividend, offering investors regular income and a more predictable cash flow, he said, adding this approach not only boosts investor confidence but also encourages long-term commitment to the market, fostering greater market participation and liquidity.The QSE is continuously working on developing investment tools by launching various initiatives that align with market needs and international best practices.As part of its strategy, the exchange is committed to enhancing market efficiency, transparency, accessibility, and ensuring a better trading experience for all market participants.

The digital assets framework was launched by the Qatar Financial Centre Authority and Qatar Financial Centre Regulatory Authority in line with the Third Financial Sector Strategy issued by the Qatar Central Bank.
Business
QFC launches digital assets framework; provides legal recognition of smart contracts

The Qatar Financial Centre (QFC) has launched its digital assets framework, a comprehensive and innovative regime for the creation and regulation of digital assets in the QFC, paving way for companies to offer token services.The development of the framework, which is one of the important goals established by the Third Financial Sector Strategic Plan, provides not only legal recognition of smart contracts but also establishes legal and regulatory foundation for tokenisation, a key tool to protect sensitive data.The digital assets framework was launched by the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA) in line with the Third Financial Sector Strategy issued by the Qatar Central Bank (QCB)."This framework will create significant opportunities and support establishing a robust regulatory environment within the financial sector. This will support Qatar’s digital transformation goals, in line with the Third National Development Strategy, the final phase of the Qatar National Vision 2030," said Sheikh Bandar bin Mohamed bin Saoud al-Thani, QCB governor.The QFC digital assets framework 2024 establishes the legal and regulatory foundation for digital assets, including the process of tokenisation, legal recognition of property rights in tokens and their underlying assets, custody arrangements, transfer, and exchange.The framework will ensure a secure and transparent digital asset ecosystem in the QFC, in line with the highest international standards and best practices. It also sets high standards for the process of asset tokenisation and puts in place a trusted technology infrastructure that will ensure trust and confidence among consumers, service providers, and industry stakeholders."We are proud to set a blueprint for developing, applying, and operating digital assets that promotes market trust and confidence. We anticipate that this regulatory clarity will attract both domestic and international players, boosting Qatar’s financial services sector competitiveness,” according to Yousuf Mohamed al-Jaida, chief executive officer, QFC.The QFC digital assets framework is the result of a process of extensive consultation and collaboration with industry stakeholders, which was co-ordinated through an advisory group comprised of thirty-seven domestic and international organisations from the financial, technology, and legal sectors.“By introducing a comprehensive and robust framework for the regulation of digital assets, we are laying the groundwork for the development of a thriving and innovative financial services sector that can leverage the opportunities offered by new technologies and emerging market,” said Michael Ryan, chief executive officer, QFCRA.Since the launch of the QFC Digital Assets Lab in October 2023, more than 20 start-ups and fintech firms have been accepted into the lab to develop, test, and commercialise their digital asset products and services.The operation of the QFC digital assets lab took place in parallel with the QFC digital assets framework emphasising the important role that industry engagement and collaboration has played in the development of the framework.

The foreign institutions were seen bullish as the 20-stock Qatar Index settled 0.79% higher this week
Business
Global oil strength lifts QSE 80 points; M-cap adds QR6.46bn

The Qatar Stock Exchange (QSE) saw its key index gain more than 80 points and capitalisation add QR6.46bn this week, which recorded rising world oil prices on geopolitical tensions in the Middle East.The foreign institutions were seen bullish as the 20-stock Qatar Index settled 0.79% higher this week which saw the global index compiler FTSE Russell include Baladna and Gulf Warehousing in its microcap indices.The real estate, insurance, banking and transport counters witnessed higher than average demand in the main market this week which saw Qatar’s trade surplus amount to QR20.13bn in June 2024.The Arab individuals were seen increasingly net buyers in the main bourse this week which saw Estithmar Holding issue QR500mn sukuk, the first corporate Islamic bond in local currency.About 83% of the traded constituents extended gains to investors in the main market this week which saw Lesha Bank acquired a residential building in the Pearl Qatar.The domestic institutions continued to be net buyers but with lesser intensity in the main bourse this week, which saw Mannai Infotech and Businessnext ink strategic agreement to digitally transform the country’s banking sector.The Gulf funds were increasingly net sellers in the main market this week which saw a total of 0.05mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.12mn trade across 12 deals.The local retail investors were also 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 QR0.05mn change hands across 10 transactions.The foreign individuals were seen bearish in the main market this week which saw the banks and industrials sectors together constitute about 51% of the total trade volumes.The Islamic index was seen gaining faster than the main barometer in the main bourse this week, which saw no trading of sovereign bonds.Market capitalisation added 1.1% to QR591.64bn on the back of large and midcap segments this week, which saw no trading of treasury bills.Trade turnover and volumes were on the rise in the main market, while in the venture market; both trade volumes and value were on the decline this week.The Total Return Index rose 0.79%, the All Share Index by 1% and the All Islamic Index by 0.86% this week.The realty index shot up 3.1%, insurance (2.39%), banks and financial services (1.32%), transport (0.9%), industrials (0.41%) and telecom (0.4%); while consumer goods and services declined 0.63% this week.Major gainers in the main bourse included Qatar General Insurance and Reinsurance, QLM, Mazaya Qatar, Gulf Warehousing, Barwa, QNB, Masraf Al Rayan, Lesha Bank, Alijarah Holding, Inma Holding, Salam International Investment, Mekdam Holding, Al Faleh Educational Holding, Aamal Company, Qamco, Ezdan and Milaha. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week.Nevertheless, Woqod, Doha Bank, Qatar Cinema and Film Distribution, Qatari Investors Group and Estithmar Holding were among the shakers in the market. In the junior bourse, Techno Q saw its shares depreciate in value this week.The foreign funds turned net buyers to the tune of QR31.72mn against net sellers of QR18.43mn the week ended August 22.The Arab individual investors’ net buying increased noticeably to QR9.13mn compared to QR0.55mn a week ago.The Gulf individuals were net buyers to the extent of QR0.09mn against net profit takers of QR3.19mn the previous week.However, the Gulf funds’ net selling strengthened substantially to QR29.01mn compared to QR4.25mn the week ended August 22.The local individual investors’ net profit booking grew marginally to QR25.12mn against QR24.5mn a week ago.The foreign retail investors turned net sellers to the tune of QR3.2mn compared with net buyers of QR1.39mn the previous week.The Arab institutions’ net profit booking rose marginally to QR0.09mn against QR0.05mn the week ended August 22.The domestic funds’ net buying weakened substantially to QR16.49mn compared to QR48.48mn a week ago.The main market witnessed 56% surge in trade volumes to 826.34mn shares, 53% in value to QR2.01bn and 32% in deals to 72,582 this week.In the venture market, trade volumes tanked 65% to 6.58mn equities, value by 61% to QR15.11mn and 6% in transactions to 674.

The Ras Laffan Industrial City. Qatar's producers' price index, which measures the average changes in prices received by domestic producers for their output, zoomed 7.19% year-on-year this July on surge in the index of hydrocarbons and certain manufactured products such as rubber and plastics, refined petroleum products, and cement, according to the official estimates.
Business
Qatar's industrial producers' price index increases in July 2024: NPC

Qatar's producers' price index (PPI), which measures the average changes in prices received by domestic producers for their output, zoomed 7.19% year-on-year this July on surge in the index of hydrocarbons and certain manufactured products such as rubber and plastics, refined petroleum products, and cement, according to the official estimates.The country's PPI was up 0.6% month-on-month in the review period, mainly due to increase in the indices of refined petroleum products and cement, said the figures released by the National Planning Council (NPC).The PPI measures inflation from the perspective of costs to industry or producers of products as it measures price changes before they reach consumers. The NPC had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights.The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.The mining PPI, which carries the maximum weight of 82.46%, reported a 7.55% increase year-on-year in July 2024 owing to a 7.57% jump in the extraction of crude petroleum and natural gas and 0.04% in index of other mining and quarrying.The mining sector reported a 0.6% rise on a monthly basis in July 2024 on a 0.6% expansion in the extraction of crude petroleum and natural gas and 0.6% in other mining and quarrying.The manufacturing sector PPI, which has a weight of 15.85% in the basket, shot up 5.52% year-on-year in July 2024 on account of 19.97% expansion in the index of rubber and plastics products, 7.3% in refined petroleum products, 5.97% in chemicals and chemical products, 5.15% in cement and other non-metallic mineral products, 2.37% in beverages and 2.17% in food products.Nevertheless, there was 1.51% shrinkage in the index of basic metals and 0.49% in printing and reproduction of recorded media in the review period.The manufacturing sector had seen a 0.78% month-on-month growth this July on 2.08% increase in the index of refined petroleum products, 1.95% in cement and other non-metallic mineral products, 0.52% in rubber and plastics, 0.51% in basic metals and 0.36% in chemicals and chemical products; even as there was a 0.16% decline in the index of printing and reproduction of recorded media.The index of electricity, gas, steam, and air conditioning supply reported 0.04% and 2.45% contraction year-on-year and month-on-month respectively in July 2024.The index of water supply was seen gaining 10.12% and 3% on annualised and monthly basis respectively in the review period.

A higher than average demand especially in the insurance, banks and real estate sectors led the 20-stock Qatar Index gain 0.65% to 10,203.04 points
Business
Foreign funds lift QSE 66 points as index crosses 10,200 levels; M-cap adds QR4.25bn

Strong buying interests of foreign institutions on Thursday lifted the Qatar Stock Exchange (QSE) more than 66 points and its key index crossed the 10,200 levels.A higher than average demand especially in the insurance, banks and real estate sectors led the 20-stock Qatar Index gain 0.65% to 10,203.04 points, recovering from an intraday low of 10,119 points.More than 67% of the traded constituents extended gains to investors in the main market, whose year-to-date losses were at 5.79%.However, the Arab funds were increasingly bearish in the main bourse, whose capitalisation however added QR4.25bn or 0.72% to QR591.64bn on the back of large and midcap segments.The domestic institutions were seen net profit takers in the main market, which saw 2,760 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn trade across four deals.The local retail investors turned net sellers in the main bourse, which saw no trading of treasury bills.The foreign individuals were seen net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was also seen gaining slower than the other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index rose 0.65%, the All Share Index by 0.7% and the All Islamic Index by 0.64% in the main market.The insurance sector index gained 1.46%, banks and financial services (1.09%), realty (0.88%), transport (0.64%) and industrials (0.49%); while consumer goods and services declined 1.04% and telecom 0.44%.Major gainers in the main market included Dukhan Bank, Qatar Insurance, Masraf Al Rayan, Mannai Corporation, Mesaieed Petrochemical Holding, QNB and Barwa. In the junior bourse, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Woqod, Qatari Investors Group, Al Faleh Educational Holding, Widam Food, Dlala and Qatar Cinema and Film Distribution were among the losers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.The foreign institutions turned net buyers to the tune of QR58.7mn compared with net sellers of QR53.97mn on August 28.However, the Gulf institutions’ net selling increased substantially to QR26.54mn against QR1.08mn the previous day.The domestic funds were net profit takers to the extent of QR14.67mn compared with net buyers of QR29.64mn on Tuesday.The Qatari individuals turned net sellers to the tune of QR8.74mn against net buyers of QR17.16mn on August 28.The foreign retail investors were net sellers to the extent of QR5.2mn compared with net buyers of QR2.19mn the previous day.The Arab individual investors turned net profit takers to the tune of QR2.78mn against net buyers of QR4mn on Tuesday.The Gulf individuals were net sellers to the extent of QR0.79mn compared with net buyers of QR2.13mn on August 28.The Arab institutions had no major net exposure against net profit takers to the tune of QR0.09mn the previous day.Trade volumes in the main market shrank 15% to 153.07mn shares, while value shot up 36% to QR586.08mn and transactions by 1% to 16,054.The venture market saw 36% surge in trade volumes to 0.75mn equities, 43% in value to QR1.77mn and 1% in deals to 84.(Ends)

Gulf Times
Business
Qatar's trade surplus jumps 2.5% to 20.13bn in July: NPC

Qatar witnessed a strong double-digit growth in shipments to India and the UAE as its trade surplus expanded to QR20.13bn in July 2024, according to the official estimates.The country's merchandise trade surplus was seen growing 2.5% and 2.9% year-on-year and month-on-month respectively in the review period, according to the National Planning Council (NPC) data.Total exports (valued free on board) totalled QR30.21bn, while total imports (cost, insurance and freight) amounted to QR10.08bn in July 2024.The country's total exports of domestic goods amounted to QR28.74bn, which shot up 2.8% and 1.5% on yearly and monthly basis respectively in July 2024.In July 2024, Qatar's shipments to China amounted to QR5.92bn or 19.6% of the total exports of the country, followed by South Korea QR3.8bn (12.6%), India QR3.68bn (12.2%), Japan QR2.08bn (6.9%) and the UAE QR1.86n (6.1%).Qatar's exports to India shot up 31.63% on an annualised basis in July 2024, the UAE by 14.84% and Japan by 2.56%; whereas those to South Korea and China declined 8.22% and 1.68% respectively.On a monthly basis, the country's exports to China zoomed 61.7% and India by 11.77%; while those to South Korea fell 21.8%, the UAE by 8.25% and Japan by 5.91% in the review period.The country’s exports of petroleum gases and other gaseous hydrocarbons soared 3.7% year-on-year to QR17.62bn and other commodities by 26.3% to QR3.55bn; even as those of crude declined by 8.3% to QR4.92bn and non-crude by 5.2% to QR2.65bn in July 2024.On a monthly basis, the exports of non-crude and other commodities soared 13% and 25.3%; while those of petroleum gases fell 1.4% and crude by 2.9% in the review period.Petroleum gases accounted for 61.31% of the total exports compared to 60.77% a year-ago period, crude 17.12% (19.17%), non-crude 9.22% (9.98%) and others 12.35% (10.05%).The country’s re-exports were valued at QR1.47bn, which registered 31% and 25.3% growth year-on-year and month-on-month respectively in the review period.Qatar's total imports showed a 6.8% and 1.8% increase on yearly and monthly basis respectively in July 2024.The country's imports from China amounted to QR1.49bn or 14.8% of the total; followed by the US QR1.45bn (14.3%), Japan QR0.66bn (6.5%), the UAE QR0.65bn (6.4%) and India by QR0.59bn (5.9%) in the review period.On a yearly basis, Qatar's imports from the UAE surged 213.11%, Japan by 148.12%, India by 15.2% and the US by 6.87%, while those from China declined 5.52% in the review period.On a monthly basis, the country's imports from Japan expanded 41.63%, India by 27.92%, the UAE by 19.22% and the US by 9.38%; whereas those from China shrank 8.43% in July 2024.In July 2024, “Turbojets, Turbo-propellers & Other Gas Turbines; Parts Thereof” was at the top of the imported group of commodities and valued at QR0.6bn, showing a decrease of 31.4% year-on-year.In second place was "Parts of aircraft and spacecraft" with a value of QR0.27bn, showing an annual decline of 41.9% in July 2024.The “Medicaments Mixed or not, In Dosage Etc. Form” group imports were valued at QR0.26bn, which increased 34.4% on an annualised basis in July 2024.(Ends)

The banks and industrials counters witnessed higher than average net profit booking as the 20-stock Qatar Index declined 0.51% to 10,136.99 points, but recovered from an intraday low of 10,081 points
Business
Banks and industrials sectors drag QSE 51 points; M-cap melts QR3.48bn

Rising geopolitical tensions in the Middle East continued to have its influence in the Qatar Stock Exchange (QSE), which on wednesday fell more than 51 points and capitalisation erode QR3.48bn.The banks and industrials counters witnessed higher than average net profit booking as the 20-stock Qatar Index declined 0.51% to 10,136.99 points, but recovered from an intraday low of 10,081 points.The foreign institutions were seen increasingly bearish in the main market, whose year-to-date losses widened further to 6.4%.The Gulf institutions turned bearish in the main bourse, whose capitalisation melted 0.59% to QR587.39bn on the back of midcap segments.The Arab funds were seen net profit takers in the main market, which saw 4,811 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.01mn trade across three deals.The foreign retail investors’ lower net buying had its influence in the main bourse, which saw no trading of treasury bills.However, the domestic funds were seen increasingly into net buying in the main market, which saw no trading of sovereign bonds.The Islamic index was also seen declining in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index shed 0.51%, the All Share Index by 0.55% and the All Islamic Index by 0.51% in the main market.The banks and financial services sector index declined 0.8%, industrials (0.53%), insurance (0.44%), real estate (0.19%), telecom (0.13%) and transport (0.06%); while consumer goods and services sector treaded a flat path.As much as 70% of the traded constituents in the main bourse were in the red with major losers being QLM, Lesha Bank, Medicare Group, Masraf Al Rayan, Mazaya Qatar, QIIB, Doha Bank, Mannai Corporation, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Estithmar Holding and Ezdan.Nevertheless, Qatar General Insurance and Reinsurance, Beema, Woqod, Meeza and Widam Food were among the gainers in the main market. In the junior bourse, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.The foreign institutions’ net selling increased substantially to QR53.97mn compared to QR11.73mn on August 27.The Gulf institutions turned net sellers to the tune of QR1.08mn again net buyers of QR5.11mn the previous day.The Arab institutions were net profit takers to the extent of QR0.09mn compared with no major net exposure on Monday.The Arab individual investors’ net buying declined noticeably to QR4mn against QR8.73mn on August 27.The foreign individuals’ net buying weakened marginally to QR2.19mn compared to QR2.58mn the previous day.However, the domestic funds’ net buying strengthened substantially to QR29.64mn against QR4.43mn on Monday.The Qatari individuals turned net buyers to the extent of QR17.16mn compared with net buyers of QR9.34mn on August 27.The Gulf retail investors’ net buying expanded perceptibly to QR2.13mn against QR0.23mn the previous day.Trade volumes in the main market were up 1% to 181.36mn shares, value by 13% to QR431.52mn and transactions by less than 1% to 15,864.The venture market saw 62% plunge in trade volumes to 0.55mn equities, 63% in value to QR1.24mn and 34% in deals to 83.

The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.33% to 10,188.57 points, although it touched an intraday high of 10,229 points
Business
QSE loses 34 points despite more gainers; foreign funds turn net sellers

Rising geopolitical tensions in the Middle East had cast a shadow over positive influence of the US rate cut hopes that the Qatar Stock Exchange (QSE) on Tuesday settled 34 points lower, even as movers outnumbered shakers.The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.33% to 10,188.57 points, although it touched an intraday high of 10,229 points.The industry and transport counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened to 5.93%.The local retail investors continued to be net sellers but with lower intensity in the main bourse, whose capitalisation melted QR1.47bn or 0.25% to QR590.87bn on the back of mid and small cap segments.The Arab individuals turned bullish in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.12mn trade across 10 deals.The Gulf institutions were seen net buyers in the main bourse, which saw no trading of treasury bills.The domestic funds turned net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices in the main bourse, whose trade turnover grew amidst lower volumes.The Total Return Index shed 0.33%, the All Share Index by 0.25% and the All Islamic Index by 0.04% in the main market.The industrials sector index shrank 0.67%, transport (0.36%), banks and financial services (0.33%) and consumer goods and services (0.04%); while real estate gained 1.11%, telecom (0.75%) and insurance (0.52%).Major losers in the main market included Al Faleh Educational Holding, Mazaya Qatar, Gulf International Services, Qatar Electricity and Water, Industries Qatar and Nakilat. In the junior bourse, Al Mahhar Holding saw its shares depreciate in value.Nevertheless, more than 53% of the traded constituents extended gains with major movers being Qatar General Insurance and Reinsurance, QLM, Lesha Bank, Widam Food, Qatar German Medical Devices, Qamco, Al Khaleej Takaful, Barwa, United Development Company and Gulf Warehousing.The foreign institutions turned net sellers to the tune of QR11.73mn compared with net buyers of QR48.92mn on August 26.However, the Arab retail investors were net buyers to the extent of QR8.73mn against net sellers of QR1.96mn on Monday.The Gulf institutions turned net buyers to the tune of QR5.11mn compared with net sellers of QR7.94mn the previous day.The domestic funds were net buyers to the extent of QR4.43mn against net profit takers of QR2.93mn on August 26.The foreign individuals turned net buyers to the tune of QR2.58mn compared with net sellers of QR4.03mn on Monday.The Gulf retail investors were net buyers to the extent of QR0.23mn against net profit takers of QR1.63mn the previous day.The Qatari individual investors’ net buying weakened substantially to QR9.34mn compared to QR30.42mn on August 26.The Arab institutions had no major net exposure for the fifth straight session.Trade volumes in the main market were down 3% to 179.09mn shares, while value rose 6% to QR382.73mn and transactions by 5% to 15,814.The venture market saw 37% surge in trade volumes to 1.47mn equities and 32% in value to QR3.31mn but on 7% contraction in deals to 126.

The preparatory committee that laid foundation for next month’s GCC central bank governors’ meet. PICTURE: Thajudheen
Business
GCC central bank governors to meet next month

The central bank governors in the Gulf Co-operation Council (GCC) will meet next month, as part of efforts to formulate effective strategies that enhance financial and economic stability in the region.The meet seeks to achieve a “qualitative shift” in the financial sector, which is witnessing fundamental transformations as a result of the growth of modern technology and artificial intelligence (AI) and its applications in financial services.As a prelude to the 83rd central bankers' meeting, the Qatar Central Bank (QCB) on Monday hosted the first meeting of preparatory committee of the GCC central bank governors meeting.The preparatory meeting was chaired by Hamad Ahmed al-Mulla, QCB Assistant Governor for Supervision Sector, who stressed on the importance of enhancing co-operation based on the directives of the GCC central bank governors and their recommendations on the necessity of ensuring the stability of financial markets and achieving common economic goals, in light of their emphasis on the importance of exchanging experiences and developing effective policies in order to build strong and flexible financial systems.The first meeting of the preparatory committee comes at a time characterised by the acceleration of challenges and the emergence of emerging opportunities, which necessitates keeping pace with these developments, he said, adding the outcome of which would form a roadmap, which includes the most prominent topics that will be raised during the meeting of Gulf central bank governors.Khalid bin Ali bin Salim al-Sunaidi, Assistant Secretary-General for Economic and Development Affairs at the GCC Secretariat said the challenges arising from global economic crises require taking all necessary measures to address and mitigate their repercussions.The (preparatory) committee plays a significant role in achieving greater economic integration among the GCC countries, particularly in the monetary and banking sectors, he said, highlighting the strength factors of the Gulf countries that could be leveraged for economic diversification and technological advancement.He said the GCC economies are expected to grow by 3.6% this year and 3.7% in 2025, surpassing major global economies, with global reports suggesting that non-oil sectors will lead economic growth in the GCC countries.The establishment of the preparatory committee was approved on the sidelines of the 82nd meeting of the GCC central bank governors, which was hosted by Qatar last March, in its capacity as the current presidency of the GCC meetings.

The foreign institutions were seen bullish as the 20-stock Qatar Index shot up 1.16% to 10,222.81 points
Business
US rate cut hopes lift QSE as index surges 117 points; M-cap adds QR7.31bn

Rate cut hopes in the US had its reflection in the Qatar Stock Exchange (QSE), which monday saw its key index surge more than 117 points and capitalisation add more than QR7bn. The foreign institutions were seen bullish as the 20-stock Qatar Index shot up 1.16% to 10,222.81 points, recovering from an intraday low of 10,110 points, also factoring the surge in oil prices on account of rising Middle East tensions. An across the board buying -- particularly in the banks, insurance and transport counters -- lifted the sentiments in the main market, whose year-to-date losses truncated to 5.61%. More than 90% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR7.31bn or 1.25% to QR592.34bn on the back of large and midcap segments. However, local retail investors were net sellers in the main market, which saw 3,660 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR9,431 trade across four deals. The Gulf institutions were seen net profit takers in the main bourse, which saw no trading of treasury bills. The foreign individuals turned 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 and volumes were on the increase. The Total Return Index zoomed 1.16%, the All Share Index by 1.21% and the All Islamic Index by 0.91% in the main market. The banks and financial services sector index soared 1.52%, insurance (1.22%), transport (1.21%), real estate (1.15%), industrials (0.87%), consumer goods and services (0.65%) and telecom (0.5%). Major gainers in the main market included QLM, Mazaya Qatar, Al Faleh Educational Holding, Alijarah Holding, Salam International Investment, QNB, Masraf Al Rayan, Lesha Bank, Dlala, Gulf International Services, Ezdan, Barwa and Nakilat. Nevertheless, Mekdam, Medicare Group and Ahlibank Qatar were among the shakers in the main bourse. In the venture market, Al Mahhar Holding and Techno Q saw their shares depreciate in value. The foreign institutions turned net buyers to the tune of QR48.92mn compared with net sellers of QR10.21mn on August 25. However, the Qatari individuals were net sellers to the extent of QR30.42mn against net buyers of QR6.22mn the previous day. The Gulf institutions turned net profit takers to the tune of QR7.94mn compared with net buyers of QR1.45mn on Sunday. The foreign individuals were net sellers to the extent of QR4.03mn against net buyers of QR1.27mn on August 25. The domestic funds turned net profit takers to the tune of QR2.93mn compared with net buyers of QR0.02mn the previous day. The Arab retail investors were net sellers to the extent of QR1.96mn against net buyers of QR1.11mn on Sunday. The Gulf individuals turned net profit takers to the tune of QR1.63mn compared with net buyers of QR0.15mn on August 25. The Arab institutions had no major net exposure for the fourth straight session. Trade volumes in the main market zoomed 43% to 183.87mn shares, value by 47% to QR362.03mn and transactions by 55% to 15,118. The venture market saw 61% plunge in trade volumes to 1.07mn equities, 60% in value to QR2.5mn and 45% in deals to 135.

QTerminals installs a 3,300Wp (watt-peak) photovoltaic (PV) system
Business
QTerminals installs photovoltaic system to reduce CO2 emissions

QTerminals has installed a 3,300Wp (watt-peak) photovoltaic (PV) system at the ambulance parking bays in Hamad Port’s Container Terminal 1 (CT1) and General Cargo Terminal (GCT).This comes as part of its strategy to reduce CO2 or carbon dioxide emissions in its operations.The panels at both locations can produce 9,010kWh, with 6,350kg of greenhouse gas emissions avoided annually. The generated power is used to light the parking bays and safety information boards.The move is also seen as a reflection of Qatar’s abundant solar energy potential. The competitive costs of renewable technologies make the adoption of renewable energy technologies in Qatar and the region more attractive due to the decreased levelised cost of electricity production.The cost of PV solar energy has dropped significantly from around 4 cents per kilowatt-hour in 2017 to about 1.5 cents in 2023, with expectations to decrease to around 1 cent per kilowatt-hour by 2030, Director of Production Planning and Business Development at Kahramaa Abdul Rahman Ibrahim al-Baker, had said earlier.Hamad Port has added a range of environmentally friendly equipment designed to reduce CO2 emissions and enhance operational efficiency.QTerminals was established in 2016 as a joint venture between the Qatar Ports Management Company (Mwani Qatar) and Milaha.QTerminals recently became the first company in the Gulf Co-operation Council (GCC) region and third in Asia to have complied with the standards and recommendations of the Science-Based Targets Initiative (SBTi) within the maritime transport sector (ports and services).QTerminals received the SBTi accreditation for commitment to reducing greenhouse gas emissions from its direct and indirect operations (Scopes 1 & 2) by 46.6% by 2030.This commitment aligns with the Qatar National Vision 2030's environmental development pillar, which focuses on preserving and protecting the environment, including air, land, marine, as well as biodiversity.

The foreign institutions were seen net profit takers as the 20-stock Qatar Index decline more than 17 points to 10,105.33 points, although it touched an intraday high of 10,132 points
Business
Foreign funds drag QSE as index loses 17 points

The Qatar Stock Exchange (QSE) on Sunday witnessed a higher than average selling, notably in the transport, insurance and telecom counters, as it overall settled 17 points lower despite movers outnumber shakers. The foreign institutions were seen net profit takers as the 20-stock Qatar Index decline more than 17 points to 10,105.33 points, although it touched an intraday high of 10,132 points. The domestic institutions’ weakened net buying had its influence in the main market, whose year-to-date losses widened to 6.7%. However, the local retail investors were seen bullish in the main bourse, whose capitalisation was down QR0.15bn or 0.03% to QR585.03bn on the back of microcap segments. The Gulf funds turned net buyers in the main market, which saw 10 exchange traded funds (sponsored by Doha Bank) valued at QR97 trade across one deal. The foreign retail investors were increasingly net buyers in the main bourse, which saw no trading of treasury bills. The Arab individuals turned bullish in the main market, which saw no trading of sovereign bonds. The Islamic index was seen declining slower than the other indices in the main bourse, whose trade turnover and volumes were on the decline. The Total Return Index was down 0.17%, the All Share Index by 0.1% and the All Islamic Index by 0.14% in the main market. The transport sector index declined 0.53%, insurance (0.38%), telecom (0.28%), consumer goods and services (0.18%) and banks and financial services (0.14%); while industrials gained 0.25% and real estate 0.12%. Major shakers included Qatar Insurance, Nakilat, Commercial Bank, Mannai Corporation, Qatar National Cement, Meeza, Qatar Islamic Bank and QIIB. Nevertheless, as much as 55% of the traded constituents extended gains in the main bourse with movers being Al Faleh Educational Holding, Qatar General Insurance and Reinsurance, QLM, Mekdam Holding, Medicare Group, Qatar Electricity and Water, Aamal Company, Mazaya Qatar, Gulf International Services, Gulf Warehousing and Vodafone Qatar. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value. The foreign institutions turned net sellers to the tune of QR10.21mn compared with net buyers of QR15.44mn on August 22. The domestic institutions’ net buying decreased markedly to QR0.02mn against QR4.27mn the previous trading day. However, the Qatari individuals were net buyers to the extent of QR6.22mn compared with net sellers of QR11.44mn last Thursday. The Gulf institutions turned net buyers to the tune of QR1.45mn against net profit takers of QR7.07mn on August 22. The foreign individuals’ net buying increased marginally to QR1.27mn compared to QR1.21mn the previous trading day. The Arab retail investors were net buyers to the extent of QR1.11mn against net profit takers of QR1.6mn last Thursday. The Gulf individual investors turned net buyers to the tune of QR0.15mn compared with net sellers of QR0.8mn on August 22. The Arab institutions had no major net exposure for the third straight session. Trade volumes in the main market fell about 1% to 128.95mn shares, value by 22% to QR245.72mn and transactions by 18% to 9,732. In the venture market, trade volumes more than doubled to 2.73mn equities and value also more than doubled to QR6.29mn on 56% surge in deals to 246.