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Sunday, January 29, 2023 | Daily Newspaper published by GPPC Doha, Qatar.
Gulf Times
Business
Optimism returns in QSE as index soars 300 points; M-cap adds QR16bn

The optimism on growth prospects in China had its positive effect on the Qatar Stock Exchange (QSE), which saw its key index gain as much as 300 points and capitalisation add more than QR16bn this week.The foreign institutions were seen net buyers as the 20-stock Qatar Index shot up 2.77% this week which saw Commercial Bank report net profit of QR2.81bn during 2022.The banking counter particularly witnessed higher than average demand this week which saw the constitutional assembly of Dukhan Bank give its nod to convert the lender into a public entity through a direct listing on the QSE.More than 65% of the traded constituents were seen gainers this week, which saw Vodafone Qatar rings in net profit of QR502mn during 2022.The Arab retail investors were increasingly net buyers this week which saw QIIB report net profit of QR1.07bn net profit during 2022.The Gulf institutions’ weakened net selling had its influence in the main market this week which saw Gulf International Services’ subsidiary Al Koot and Doha Insurance call off their merger talks.The Islamic index was seen declining slower than the main index this week which saw Gulf Warehousing earn net profit of QR239.6mn during 2022.Nevertheless, the domestic funds were increasingly net sellers this week which saw a total of 0.22mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.53mn trade across 29 deals.Trade turnover and volumes were on the decline in the main market this week, which saw as many as 0.39mn Doha Bank-sponsored exchange traded fund QETF valued at QR4.3mn change hands across 115 transactions.Market capitalisation was seen expanding QR16.07bn or 2.62% to QR630.34bn on the back of large and midcap segments this week which saw the industrials and banking sectors together constitute more than 65% of the total trade volume in the main market.The Total Return Index shot up 2.77%, All Share Index by 2.69% and All Islamic Index by 2.06% this week, which saw no trading of sovereign bonds.The banks and financial services sector index zoomed 4.69%, real estate (1.89%), industrials (1.49%) and transport (0.13%); while insurance declined 2.55%, consumer goods and services (1.27%) and telecom (0.34%) this week which saw no trading of treasury bills.Major gainers in the main market included Commercial Bank, Mekdam Holding, Vodafone Qatar, Gulf International Services, QNB, Qatar Islamic Bank, QIIB, Qatari German Medical Devices, Salam International Investments, Aamal Company, Mesaieed Petrochemical Holding, Qamco, Doha Insurance, Beema, Ezdan and Barwa this week.Nevertheless, Zad Holing, Ahlibank Qatar, Al Meera, Qatar Insurance, Inma Holding, Dlala, Alijarah Holding, QLM, Ooredoo, Gulf Warehousing and Nakilat were among the losers in the main market this week which saw Al Mahhar Holding outline its plans to seek listing in the venture market of the QSE.The foreign funds were net buyers to the tune of QR189.28mn compared with net sellers of QR38.67mn the week ended January 19.The Arab individuals’ net buying increased considerably to QR17.25mn against QR3.97mn the previous week.The Gulf institutions’ net selling weakened significantly to QR31.76mn compared to QR54.03mn a week ago.However, the domestic funds turned net sellers to the extent of QR135.83mn against net buyers of QR28.4mn the week ended January 19.The local retail investors were net sellers to the tune of QR47.21mn compared with net buyers of QR48.36mn the previous week.The Gulf retail investors turned net profit takers to the extent of QR1.82mn against net buyers of QR0.98mn a week ago.The Arab institutions were net sellers to the tune of QR0.05mn compared with net buyers of QR0.39mn the week ended January 19.The foreign individuals’ net buying eased marginally to QR10.15mn against QR10.6mn the previous week.Total trade volume in the main market decreased 5% to 677.67mn shares, value by 13% to QR2.32bn and deals by 23% to 74,022.

Gulf Times
Business
QSE snaps 5-day winning streak; M-cap erodes QR3bn

The Qatar Stock Exchange on Thursday snapped five consecutive days of bull-run as its key index lost 52 points and capitalisation eroded more than QR3bn.An across the board selling – particularly at the telecom, real estate and transport counters – dragged the 20-stock Qatar Index 0.46% to 11,110.16 points, although it touched an intraday high of 11,215 points.The domestic institutions were increasingly into net selling in the main market, whose year-to-date gains truncated to 4.02%.The Gulf funds were seen net profit takers in the main bourse, whose capitalisation saw QR3.33bn or 0.53% contraction to QR630.34bn, mainly led by midcap segments.The Gulf retail investors turned bearish, albeit at lower levels, in the main market, which saw a total of 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.5mn changed hands across 39 deals.About 64% of the traded constituents were in the red in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shed 0.46%, the All Share Index by 0.59% and the Al Rayan Islamic Index (Price) by 0.88% in the main bourse, whose trade turnover and volumes were on the increase.The telecom sector index plummeted 2.14%, real estate (1.57%), transport (1.1%), banks and financial services (0.59%), insurance (0.27%), consumer goods and services (0.21%) and industrials (0.13%).Major shakers in the main market included QIIB, Qatar Industrial Manufacturing, United Development Company, Medicare Group, Al Meera, Doha Bank, Alijarah Holding, Qatari German Medical Devices, Baladna, Barwa, Ooredoo, Vodafone Qatar and Nakilat.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The domestic funds’ net profit booking increased noticeably to QR44.69mn compared to QR38.72mn on January 25.The Gulf institutions turned net sellers to the tune of QR27.58mn against net buyers of QR7.49mn the previous day.The Gulf individuals were net sellers to the extent of QR1.12mn compared with net buyers of QR0.95mn on Wednesday.However, the foreign institutions’ net buying expanded substantially to QR56.7mn against QR21.98mn on January 25.The local retail investors’ net buying strengthened perceptibly to QR10.57mn compared to QR3.95mn the previous day.The foreign individual investors’ net buying enlarged notably to QR3.2mn against QR2.48mn on Wednesday.The Arab retail investors’ net buying grew marginally to QR2.65mn compared to QR2.18mn on January 25.The Arab institutions turned net buyers to the tune of QR0.27mn against net sellers of QR0.32mn the previous day.The main market saw a 1% gain in trade volumes to 126.95mn shares and 11% in value to QR481.64mn but on 12% shrinkage in deals to 13,165.

Gulf Times
Business
Qatar and Morocco conclude second round of FTA negotiations

Qatar and Morocco have concluded the second round of talks on free trade agreement (FTA), a move that is expected to further accelerate trade growth by encouraging co-operation between businesses in both the countries.Qatar’s representatives at the negotiations were headed by Saleh Abdullah al-Mana, Director of the Department of International Co-operation and Trade Agreements at the Ministry of Commerce and Industry, while the Moroccan side was headed by Abdelouahed Rahal, Director General of Trade at the Morocco’s Ministry of Industry and Trade.The second round of negotiations, which was held in Doha on January 22 to 23 at the Ministry of Commerce and Industry's headquarters, was built on the first round of talks in the Moroccan capital Rabat.Through the FTA, both the countries aim to increase the flow of trade and services so as to bring about greater economic integration between them. The trade volume between the two countries, which already have bilateral agreement on customs co-operation, reportedly more than doubled to $207mn between 2017 and 2021.The convening parties discussed ways to consolidate their comprehensive economic partnership and enhance trade and investment relations between the two countries, in order to serve their common interests.The FTA contributes to increasing the volume of investments, increasing exports of both sides, organising competition, facilitating the free flow of goods and services, and settling trade transactions.Both Qatar and Morocco have expressed interest in boosting bilateral co-operation in different fields ranging from trade to cybersecurity.In September 2022, Morocco and Qatar inked a joint declaration on the exchange of information relating to the 2022 World Cup.The FTAs seek a reduction or removal of tariffs and non-tariff barriers including tariffs, taxes, subsidies and regulations.The reduction in trade impediments implies that FTAs provide a faster and more effective market access to signatory countries.Various studies have shown that once an FTA has been signed, the level of trade with the signatory countries tends to increase.Qatar has an FTA signed with Gulf Co-operation Council, which came into force on January 1, 2003 and Doha is also signatory Greater Arab Free Trade Area, which came into force on January 1, 1997.Doha is also part of the GCC-European Free Trade Area, which came into force on July 1, 2015; and GCC-Singapore Free Trade Area, which came into force on January 1, 2015.Finding that international co-operation is key to global growth; Qatar has, over the past ten years, signed bilateral trade agreements with major global economies, including China, France, India, and South Korea.

The QCB recognises the importance of the fintech as a key tool to achieve long-term development prospects for the financial sector in the country.
Business
QCB grants licence to Noqoody for online payment services

The Qatar Central Bank (QCB) has granted licence to Noqoody Payment Service Company, a Qatari online payment services provider that supports online payment gateway and serves as an electronic alternative to traditional paper methods like cheques and money orders.With this, the number of companies licensed by the QCB in the fintech sector now stands at five, indicating the country’s growing encouragement to financial technology or fintech companies.Skip Cash was granted a licence by the QCB in November 2022. The central bank had granted licences to Ooredoo Money and Vodafone Qatar's iPay.The QCB recognises the importance of the fintech as a key tool to achieve long-term development prospects for the financial sector in the country.Highlighting that issuing licences is an initial step to include all companies providing digital payment services under its own supervision; QCB had said the step will “contribute to the development of the financial technology sector and enhance financial inclusion” in the country.Noqoody manages the authorisation and transfer of funds between customers’ credit card and bank account. With its payment gateway, it ensures that credit card data is transmitted securely from website to internet merchant accounts and card providers.It is empowered by its edge, scalable IT platform and advanced technology that processes millions of transactions daily and has the capacity to process 10 times more. Noqoody offers a comprehensive statistical online report and a transparent view of all transactions in real time.In August 2022, the central bank announced the launch of Google Pay in the country after completing the necessary tests. It had tweeted that all global electronic wallet services for cards such as Apple Pay and Samsung Pay are accepted in the country.

Gulf Times
Business
QSE’s winning streak enters fifth day as index gains 56 points to inch near 11,200 points

**media[7511]**Continuing with its winning streak for the fifth straight session, the Qatar Stock Exchange Wednesday gained more than 56 points and its key index inched towards 11,200 levels, mainly on the back of buying interests in the telecom and banking counters.The Gulf institutions were seen bullish as the 20-stock Qatar Index rose 0.51% to 11,161.92 points, although it touched an intraday high of 11,204 points.The local retail investors turned net buyers in the main market, whose year-to-date gains improved further to 4.5%.The Gulf individuals were seen net buyers, albeit at lower levels, in the main bourse, whose capitalisation saw QR0.94bn or 0.15% jump to QR633.67bn, mainly led by microcap segments.The foreign funds continued to be net buyers but with lesser intensity in the main market, which saw a total of 0.07mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.74mn changed hands across 40 deals.However, the market was skewed towards shakers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.51%, All Share Index by 0.47% and Al Rayan Islamic Index (Price) by 0.36% in the main bourse, whose trade turnover and volumes were on the decline.The telecom sector index shot up 1.5%, banks and financial services (0.87%), realty (0.34%), industrials (0.17%) and insurance (0.05%); while transport declined 1.3% and consumer goods and services (0.08%).Major gainers in the main market included Commercial Bank, Vodafone Qatar, Medicare Group, Qatari German Medial Devices, Qatar National Cement, Mekdam Holding, Doha Bank, Qatar Industrial Manufacturing, Doha Insurance and Barwa.Nevertheless, more than 51% of the traded constituents were in the red with major shakers being Gulf Warehousing, Ahlibank Qatar, Al Khaleej Takaful, Ezdan, Qatar Oman Investment and Nakilat.The Gulf funds turned net buyers to the tune of QR7.49mn compared with net sellers of QR6.47mn on January 22.The local retail investors were net buyers to the extent of QR3.95mn against net sellers of QR14.54mn the previous day.The Gulf individuals turned net buyers to the tune of QR0.95mn compared with net sellers of QR1.58mn on Tuesday.However, the domestic institutions’ net profit booking increased considerably to QR38.72mn against QR11.86mn on January 22.The Arab institutions were net sellers to the extent of QR0.32mn compared with no major net exposure the previous day.The foreign institutions’ net buying decreased perceptibly to QR21.98mn against QR25.51mn on Tuesday.The foreign retail investors’ net buying shrank marginally to QR2.48mn compared to QR2.73mn on January 22.The Arab individuals’ net buying weakened markedly to QR2.18mn against QR6.21mn the previous day.The main market saw 17% shrinkage in trade volumes to 125.28mn shares, 5% in value to QR434.05mn and 1% in deals to 14,904.

Adalsteinsson with Group Securities chairman Hamad bin Khalaf al-Moudadi after Q-Trade launch.
Business
Doha Bank launches Q-Trade platform to access The Group's trading platform

Doha Bank, one of the largest private commercial banks in Qatar, has launched Q-Trade platform, a gateway to The Group Securities' trading and brokerage services through its online and mobile banking channels.Doha Bank customers can easily connect their Doha Bank accounts with The Group’s accounts and trade instantly in any stocks listed on the Qatar Stock Exchange (QSE) through The Group app.Q-Trade will enable customers to instantly access their account in The Group where they can buy and sell any stocks listed on the Qatar Stock Exchange (QSE), as well as view their holdings, real-time stock prices, account information and portfolio.Customers would be able to transfer funds between their bank account and their account in The Group.“As a part of the continued strategy of Doha Bank, we will continue to invest in technology and with a priority focus on digitalising across all banking channels, and by doing so we expect this to further enhance the customer experience across all products and services. The launch of this Q-Trade platform will complete our suite of our trading platforms at both local and global level," said Gudni Stiholt Adalsteinsson, Doha Bank's acting chief executive officer.He said Doha Bank global markets platforms launched in the past would continue to provide easy access to the global markets to its customers, while Q-Trade platform will allow customers to easily trade in the local market.This service will be made available for all relevant Doha Bank retail banking customers through their online and mobile banking channels. To trade through The Group platform, customers should have accounts or open accounts in The Group.

Gulf Times
Business
Buying in realty, banking and industrials lift QSE above 11,100 points

The Qatar Stock Exchange Tuesday gained more than 80 points and its key index surpassed 11,100 points, mainly lifted by real estate, banking and industrials sectors.The Arab individuals were seen net buyers as the 20-stock Qatar Index rose 0.73% to 11,105.55 points, recovering from an intraday low of 10,999 points.The foreign retail investors were also seen bullish in the main market, whose year-to-date gains improved further to 3.97%.About 63% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR4.63bn or 1.18% jump to QR632.73bn, mainly led by midcap segments.The domestic funds’ weakened net selling pressure had its influence in the main market, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.39mn changed hands across 15 deals.The local individuals’ net profit booking was seen subsiding in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.73%, All Share Index by 0.62% and Al Rayan Islamic Index (Price) by 0.79% in the main bourse, whose trade turnover shrank amidst higher volumes.The realty sector index shot up 1.41%, banks and financial services (0.85%) and industrials (0.76%); while insurance declined 0.94%, consumer goods and services (0.15%), transport (0.1%) and telecom (0.09%).Major gainers in the main market included Ezdan, Qatar Oman Investment, Aamal Company, Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Qatar Islamic Bank, Qatar Industrial Manufacturing, Industries Qatar and Mazaya Qatar.Nevertheless, Gulf Warehousing, Qatar Insurance, Qatar National Cement, Zad Holding, Nakilat, Milaha and Qamco were among the losers in the main market.The Arab individuals turned net buyers to the tune of QR6.21mn compared with net sellers of QR2.71mn on January 21.The foreign retail investors were net buyers to the extent of QR2.73mn against net sellers of QR1.14mn the previous day.The domestic institutions’ net profit booking declined markedly to QR11.86mn compared to QR27.36mn on Monday.The local retail investors’ net selling weakened noticeably to QR14.54mn against QR28.92mn on January 21.However, the Gulf funds turned net sellers to the tune of QR6.47mn compared with net buyers of QR9.07mn the previous day.The Gulf individuals’ net profit booking expanded perceptibly to QR1.58mn against QR0.44mn on Monday.The foreign institutions’ net buying decreased significantly to QR25.51mn compared to QR51.48mn on January 21.The Arab funds had no major net exposure for the fifth consecutive day.The main market saw a 15% surge in trade volumes to 150.71mn shares but on 3% decline in value to QR458mn and 2% in deals to 15,073.

A QFC panel discussion on developing local debt market in Qatar. PICTURE: Shaji Kayamkulam
Business
QFC financial market forum calls for developing local debt market to lessen reliance on non-resident deposits

Doha's banking industry's margins have performed better than the market expected and there was a need for increasing reliance on domestic liquidity (than on non-resident deposits) as the gap between the growth in assets and deposits have been widening since last few years, thus calling for developing local debt market, according to a panel discussion at the Qatar Financial Market Forum."There has always been more asset growth than deposits. The gap has been growing over the last five to six years. This gap (between the growth in assets/loans and deposits have to be plugged," Ayman Doukali, Head of Islamic and Structured Finance, Qatar Financial Centre, told the panel discussion 'Domestic Debt Capital Market in Qatar: Potential and Building Blocks’ at the forum, organised by the Qatar Financial Centre in association with Bloomberg.He said Qatar banks' margins have performed better than the market expected despite all the challenges.The panel discussion focused on the liquidity position of Qatari banks and its performance based on the dynamics of local and foreign currency funding situation, the challenges impacting funding environment, the role of a potential domestic debt capital market in improving the Qatari capital market and other aspects that affect Qatar’s banking sector.Edmond Christou, Senior Research Analyst, Bloomberg Intelligence, said on the liquidity front, the long term funding issues have to be addressed as he suggested more reliance on domestic liquidity for the banking sector and less reliance on dollar funding.Akber Khan, Senior Director, Al Rayan Investment, said the regional banks in the Gulf Co-operation Council have strong balance sheets.Compared to peers in the developed markets, the strength of their balance sheet ratios are "extremely high" (for the regional lenders), he said.Pravesh Malhotra, Head of Investments, The Commercial Bank, said "we are in a sweet spot as the local balance sheets are strong."A concern for him is the US Federal Reserve's policy, specifically related to quantitative tightening, considering that local banks are reliant on external financing.“I don’t see any imminent risk from liquidity perspective as there is plenty of liquidity and liquidly buffers in terms of HQLA (high quality liquid assets) holdings as by international standards, Qatar's sovereign debt qualify for HQLA,” he said.However, the key concerns would be replacing non-resident deposits with domestic deposits and to what it extend it could be stretched, he said, highlighting that over the period of last seven to eight months, the banks have shed 13% of non-resident deposits.“But there is a limited opportunity for the local banks to be able to continue with this momentum since structurally the local liquidity pool is shorter,” he said.Regarding the ways to address this issue, he said it is important to focus on developing local liquidity pool by developing local debt market, which should also give opportunity to retail investors to internalise their savings.

Al-Jaida highlights sustainable finance offers $75bn investment in Qatar this year
Business
Qatar sustainable finance offers $75bn investment opportunity this year: QFC CEO

Doha has embarked on an active drive to strengthen the domestic debt market in view of the "encouraging" potential for local bonds and sukuks, as the country offers $75bn investments in sustainable finance this year, according to a top official of the Qatar Financial Centre (QFC)."There is an active drive in Qatar to strengthen the domestic debt capital market to diversify sources of funding and expand sustainable finance solutions. It is a part of a broader strategy to enhance the county’s capital market infrastructure and create a greener future in line with the Qatar National Vision 2030," QFC Authority chief executive officer Yousuf Mohamed al-Jaida Monday told Qatar Financial Market Forum.Stressing that the country is increasingly attracting international investors to its growing equity market, he said "there is an encouraging potential for local bond and sukuk issuances."In general, Qatari issuers have been accessing the international debt capital market since the inaugural sovereign issuance in 2003 of $700mn sukuk, marking the first-ever sovereign sukuk issuance from the region.Highlighting that in 2020, QNB issued the country’s first-ever green bond of $600mn, an important milestone for sustainable finance development in Qatar; he said furthermore, major banks and financial stakeholders in the country are rolling out initiatives that promote sustainable banking and financing.In this regard, he said Masraf Al Rayan recently became the first Islamic bank in Qatar to launch a sustainable finance framework, offering environment social and governance or ESG-linked funding opportunities to investors and applying those proceeds to finance ESG-compliant sustainable projects.Masraf Al Rayan aligned its sustainable finance framework to the principles of the QFC's sustainable sukuk and bonds framework, according to him.Qatar Development Bank introduced a three-year grace period and 20 years of repayment with discounted interest rates if borrowers meet sustainability targets, while Dukhan Bank signed a memorandum of understanding with the Gulf Organisation for Research and Development to launch a Shariah-compliant green and sustainable real estate financing programme at COP27.Finding that by 2023, sustainable finance in Qatar is expected to offer $75bn worth investment opportunity; al-Jaida said this trend suggests significant efforts are placed in developing the local capital market and a commitment to adhering to ESG and sustainability principles to meet the growing need for sustainable financing.Over the years, QFC and its regulator have played an integral part in Qatar’s capital market development journey, he said, adding it works with key government entities, such as Qatar Central Bank and Qatar Financial Markets Authority, to ensure regulatory alignment and the effortless execution of national financial development priorities.In addition, the QFC is consistently improving its regulatory, legal and tax frameworks to attract and retain specialised financial players that both enable and complement the offerings of local banks, he said.Qatar is on the path to developing a more diversified capital market. With established regulations for the governance of existing and new financial investments and continued efforts to adopt comprehensive approaches to capital market development, the country is set to establish a niche sustainable finance market, which is expected to reach a global value of more than $22tn by 2031.

Gulf Times
Business
QSE surpasses 11,000 points with ease on foreign funds’ increased net buying

The Qatar Stock Exchange Monday gained more than 120 points and its key index surpassed 11,000 points with an ease, reflecting the global optimism on Chinese growth prospects.The foreign institutions were increasingly net buyers as the 20-stock Qatar Index shot up 1.1% to 11,025.14 points, recovering from an intraday low of 10,893 points.The banks and financial services counter witnessed higher than average demand in the main market, whose year-to-date gains improved further to 3.22%.The Gulf institutions were seen net buyers in the main bourse, whose capitalisation saw QR7.33bn or 1.18% increase to QR628.1bn, mainly led by mid and small cap segments.More than 55% of the traded constituents extended gains to investors in the main market, which saw a total of 0.29mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR2.1mn changed hands across 41 deals.However, the local individuals were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 1.17%, All Share Index by 1.25% and Al Rayan Islamic Index (Price) by 0.73% in the main bourse, whose trade turnover volumes were on the decline.The banks and financial services sector index zoomed 2.21%, telecom (0.92%), transport (0.75%), real estate (0.54%) and insurance (0.4%); while consumer goods and services declined 0.22% and industrials (0.08%).Major gainers in the main market included QLM, Qatari German Medical Devices, QNB, QIIB, Gulf Warehousing, Qamco and Vodafone Qatar. Nevertheless, Widam Food, Al Khaleej Takaful, Qatar Industrial Manufacturing, Zad Holding and Ezdan Ooredoo were among the losers in the main market.The foreign institutions’ net buying increased significantly to QR51.48mn compared to QR33.61mn on January 20.The Gulf institutions turned net buyers to the tune of QR9.07mn against net sellers of QR14.28mn the previous day.However, the Qatari individuals’ net selling shot up noticeably to QR28.92mn compared to QR18.27mn on Sunday.The domestic institutions’ net profit booking expanded perceptibly to QR27.36mn against QR13.22mn on January 20.The Arab individuals’ net selling strengthened markedly to QR2.71mn compared to QR8.92mn the previous day.The foreign retail investors were net sellers to the extent of QR1.14mn against net buyers of QR2.88mn on Sunday.The Gulf individuals turned net profit takers to the tune of QR0.44mn compared with net buyers of QR0.36mn on January 20.The Arab funds had no major net exposure for the fourth consecutive day.The main market saw an 8% shrinkage in trade volumes to 131.53mn shares, about 1% in value to QR473.04mn and 1% in deals to 15,350.

Gulf Times
Business
QSE crosses 10,900 levels as transport, banking and real estate sectors witness demand

The Qatar Stock Exchange Sunday opened the week on a stronger note as its key index gained 95 points to cross the 10,900 levels, mainly lifted by the strength in the global energy markets due to Chinese growth prospects.Transport, banking and real estate sectors witnessed higher than average demand as the 20-stock Qatar Index shot up 0.87% to 10,905.09 points, recovering from an intraday low of 10,844 points.More than 55% of the traded constituents extended gains to investors in the main market, whose year-to-date gains improved to 2.1%.The Arab retail investors turned bullish and the foreign individual investors were seen increasingly into net buying in the main bourse, whose capitalisation saw QR6.53bn or 1.06% increase to QR620.8bn, mainly led by mid and microcap segments.The local retail investors’ weakened net selling pressure had its influence in the main market, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.1mn changed hands across nine deals.However, the Gulf individuals were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.87%, All Share Index by 0.91% and Al Rayan Islamic Index (Price) by 1.06% in the main bourse, whose trade turnover volumes were on the decline.The transport sector index shot up 1.92%, banks and financial services (1.29%), realty (1.19%) and industrials (0.76%); while insurance shrank 1.8%, consumer goods and services (0.61%) and telecom (0.48%).Major gainers in the main market included Beema, QIIB, Qamco, Ezdan, QNB, Gulf International Services, Mesaieed Petrochemical Holding, Estithmar Holding, United Development Company, Vodafone Qatar, Nakilat and Milaha. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Doha Insurance, Zad Holding, Al Meera, Qatar Insurance, Commercial Bank, Qatar National Cement and Ooredoo were among the losers in the main market.The Arab individuals turned net buyers to the tune of QR8.92mn compared with net sellers of QR2.65mn on January 19.The foreign retail investors’ net buying increased perceptibly to QR2.88mn against QR0.96mn the previous trading day.The Qatari individuals’ net profit booking weakened noticeably to QR18.27mn compared to QR39.36mn last Thursday.However, the Gulf institutions’ net selling expanded markedly to QR14.28mn against QR10.33mn on January 19.The domestic institutions’ net selling shot up notably to QR13.22mn compared to QR11.37mn the previous trading day.The foreign institutions’ net buying weakened significantly to QR33.61mn against QR61.87mn last Thursday.The Gulf individuals’ net buying eased marginally to QR0.36mn compared to QR0.89mn on January 19.The Arab funds had no major net exposure for the third consecutive day.The main market saw 19% shrinkage in trade volumes to 143.21mn shares, 27% in value to QR476.5mn and 37% in deals to 15,530.

Gulf Times
Business
Qatar machinery and equipment index edges up in H2, 2022

Qatar witnessed a 0.72% year-on-year (y-o-y) jump in machinery and equipment price index (MEPI) during in the second half (H2) of 2022 on account of higher prices for transport equipment, office machinery and special purpose machines, which have greater weightage in the MEPI basket, according to the official data.Otherwise, the largest increase on an annualised basis was reported in metal tools and musical instruments, which have lower weightage in the MEPI basket, said the figures released by the Planning and Statistics Authority (PSA).The MEPI, a short-term indicator that is calculated semi-annually, grew 0.17% when compared to that in the first half (H1) of 2022.The MEPI – with 2012 as the base year – is used by national accounts as a deflator to calculate the constant price estimates of purchases on final demand from machinery and equipment and in calculating the capital formation estimates.The index of transport equipment, which has 34.82% weightage in the MEPI basket, grew 1.06% on a yearly basis but shrank 1.28% month-on-month in the review period.The index of special purpose machines, which carries a weightage of 23.71% in the MEPI basket, expanded 0.8% and 0.05% year-on-year and month-on-month respectively during H2, 2022.The index of office, accounting and computing machinery, which have a weightage of 21.44% in the MEPI basket, shot up 1.44% and 3.75% on yearly and monthly basis respectively during the review period.The index of metal tools and tools, which carries 0.34% weightage in the MEPI basket, zoomed 18.27% and 2.95% year-on-year and month-on-month respectively during H2, 2022.The index of musical instruments, which carries a weightage of 0.4% in the MEPI basket, saw 3.69% and 5% surge year-on-year and month-on-month respectively during H2, 2022.The index of general purpose machinery, which has 5.8% weightage in the MEPI basket, rose 1.25% and 0.48% on an annualised and monthly basis respectively during H2, 2022.However, the index of radio, television and communication equipment and apparatus declined 2.83% and 3.27% year-on-year and month-on-month respectively during H2, 2022. The group has 7.13% weightage in the MEPI basket.The index of machinery and electrical appliances, which has 4.53% weightage in the MEPI basket, showed a 1.41% shrinkage year-on-year; whereas it registered 0.81% jump compared to the first half of 2022.The medical appliances, precision and optical instruments and watches and clocks group saw its index, which has 1.83% weightage in the MEPI basket, shrink 0.16% on an annualised basis; but surged 2.38% month-month-month during H2, 2022.

Gulf Times
Business
Selling in realty, banking and consumer goods drag QSE 180 points

**media[6848]**The Chinese growth concerns had an overarching influence in the Qatar Stock Exchange (QSE), whose key index tanked 180 points and capitalisation eroded QR7bn this week, which saw the advent of Beema in the trading ring.The Gulf institutions were seen net profit takers as the 20-stock Qatar Index plummeted 1.63% this week which saw global credit rating agency Moody’s sound bullish on Qatar as it said 2023 appear positive in view of higher energy prices bolstering the finances.The real estate, banking and consumer goods counters witnessed higher than average selling pressure this week which saw Moody’s view that the North Field Expansion to create new business opportunities for the Qatari banking industry.More than 61% of the traded constituents were in the red this week, which saw QIIB report net profit of QR4.01bn during 2022.The foreign institutions continued to be net profit takers but with lesser vigour this week which saw Dukhan Bank shareholders approve the board’s proposal to seek direct listing on the QSE.Local retail investors were seen net buyers this week which saw QSE acting chief executive officer Abdul Aziz al-Emadi say that directing listings and book-building would encourage more companies to go public.The Islamic index was seen declining slower than the other indices this week which saw Woqod Group register net profit of QR1.01bn during 2022.The domestic funds turned bullish this week which saw a total of 0.43mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR1.04mn trade across 46 deals.Trade turnover and volumes were on the increase in the main market this week, which saw as many as 0.07mn Doha Bank-sponsored QETF valued at QR0.76mn change hands across 42 transactions.Market capitalisation was seen eroding QR6.93bn or 1.12% to QR614.27bn on the back of mid and small cap segments this week which saw the industrials and banking sectors together constitute more than 77% of the total trade volume in the main market.The Total Return Index tanked 1.63%, All Share Index by 1.58% and All Islamic Index by 1.26% this week, which saw no trading of sovereign bonds.The real estate sector index plummeted 4.02%, banks and financial services (3.25%), consumer goods and services (2.17%) and insurance (0.23%); while telecom shot up 4.22%, transport (2.46%) and industrials (0.71%) this week which saw no trading of treasury bills.Major losers in the main market included Widam Food, Qatari German Medical Devices, Qatar Cinema and Film Distribution, Qatar Oman Investment, Commercial Bank, Qatar Islamic Bank, QNB, Doha Bank, Masraf Al Rayan, Dlala, Inma Holding, Salam International Investment, Medicare Group, Estithmar Holding, Barwa and Ezdan this week, which saw Qatar’s retail inflation surge 5.93% on an annualised basis in December 2022.Nevertheless, Ooredoo, Ahlibank Qatar, Nakilat, Gulf International Services, Qamco, Al Meera, Qatar National Cement and Industries Qatar were among the gainers this week.The Gulf institutions turned net sellers to the tune of QR54.03mn compared with net buyers of QR161.41mn the week ended January 12.However, the local retail investors were net buyers to the extent of QR48.36mn against net sellers of QR1.61mn a week ago.The domestic institutions turned net buyers to the tune of QR28.4mn compared with net sellers of QR15.32mn the previous week.The foreign individuals were net buyers to the extent of QR10.6mn against net profit takers of QR3.08mn the week ended January 12.The Arab individuals turned net buyers to the tune of QR3.97mn compared with net sellers of QR3.21mn a week ago.The Gulf retail investors were net buyers to the extent of QR0.98mn against net profit takers of QR1.38mn the previous week.The Arab institutions’ net buying expanded marginally to QR0.39mn compared to QR0.24mn the week ended January 12.The foreign funds’ net profit booking weakened substantially to QR38.67mn against QR137.06mn a week ago.Total trade volume in the main market decreased 11% to 716.72mn shares, value by 4% to QR2.66bn and deals by less than 1% to 96,738.

Gulf Times
Business
QSE benchmark surges 224 points on foreign funds’ buying interests

The Qatar Stock Exchange (QSE) on Thursday bucked a general selling trend in the Gulf regional markets as it gained as much as 224 points in key index and QR13bn in capitalisation.Snapping seven days of a bearish run, the 20-stock Qatar Index shot up 2.12% to 10,810.7 points on an across-the-board buying, particularly at the banking and industrials counters. The market touched an intraday high of 10,902 points.About 71% of the traded constituents extended gains to investors in the main market, which was back in black year-to-date with gains at 1.21%.Foreign institutions turned net buyers in the main bourse, whose capitalisation saw QR12.83bn or 2.13% increase to QR614.26bn, mainly led by large and midcap segments.Both foreign and Gulf retail investors were seen net buyers, albeit at lower levels, in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan Bank) valued at QR0.02mn changed hands across nine deals.Nevertheless, Qatari individuals were net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index zoomed 2.12%, the All Share Index by 2.16% and the Al Rayan Islamic Index (Price) by 1.31% in the main bourse, whose trade turnover volumes were on the decline.The banks and financial services sector index soared 2.94%, industrials (2.14%), telecom (2.09%), consumer goods and services (0.53%), transport (0.31%), insurance (0.2%) and real estate (0.17%).Major gainers in the main market included QNB, Industries Qatar, Ooredoo, Qatar Islamic Bank, Gulf International services, QLM, Qatar General Insurance and Reinsurance, Mekdam Holding, QIIB, Alijarah Holding and Mannai Corporation.Nevertheless, Widam Food, Gulf Warehousing, Medicare Group, Doha Insurance and United Development Company were among the losers in the main market.The foreign institutions turned net buyers to the tune of QR61.87mn compared with net sellers of QR2.52mn on January 18.The foreign retail investors were net buyers to the extent of QR0.96mn against net sellers of QR0.93mn on Wednesday.The Gulf individuals turned net buyers to the tune of QR0.89mn compared with net profit takers of QR0.06mn the previous day.The domestic institutions’ net selling weakened perceptibly to QR11.37mn against QR17.7mn on January 18.However, Qatari individuals were net sellers to the extent of QR39.36mn compared with net buyers of QR22.82mn on Wednesday.The Gulf institutions’ net profit booking expanded noticeably to QR10.33mn against QR8.46mn the previous day.The Arab individuals turned net profit takers to the tune of QR2.65mn compared with net buyers of QR6.96mn on January 18.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.11mn on Wednesday.The main market saw a 48% surge in trade volumes to 176.6mn shares, 33% in value to QR651.39mn and 32% in deals to 24,636.

Gulf Times
Business
Qatar's industrial production jumps 10.4% year-on-year in November 2022: PSA

A robust expansion in the extraction of crude petroleum and natural gas as well as in the production of beverages, food products and chemicals helped Qatar report an impressive 10.4% year-on-year growth in industrial production in November 2022, according to the latest official data.However, the country’s IPI, or industrial production index, witnessed a 1.7% decline month-on-month in the review period, according to figures released by the Planning and Statistics Authority (PSA).The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period with respect to a base period 2013.The mining and quarrying index, which has a relative weight of 82.46%, saw a 12.2% surge on a yearly basis owing to a 12.2% increase in the extraction of crude petroleum and natural gas and 10% in other mining and quarrying sectors.On a monthly basis, the index shrank 1.4% on account of a 1.4% contraction in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors saw a 2.3% jump in the review period.Electricity, which has a 1.16% weight in the IPI basket, saw its index zoom 51.9% year-on-year but shrank 2.5% month-on-month in November 2022.In the case of water, which has a 0.53% weight, the index saw a 50% increase on an annualised basis but was down 0.3% on monthly basis in November 2022.However, the manufacturing index, with a relative weight of 15.85%, was marginally down 0.6% year-on-year in November 2022 owing to a 17.8% contraction in the production of cement and other non-metallic mineral products, 9.1% in printing and reproduction of recorded media, 6.2% in basic metals and 0.4% in refined petroleum products in the review period.Nevertheless, there was a 16% increase in the production of beverages, 7.6% in food products, 3.4% in chemicals and chemical products and 0.5% in rubber and plastics products.On a monthly basis, the manufacturing index fell faster at 3.2% owing to a 9.8% plunge in the production of refined petroleum products, 4.2% in chemicals and chemical products and 4.1% in cement and other non-metallic mineral products in November 2022.However, there was an 8.7% jump in the production of basic metals, 4.1% in rubber and plastics products, 2.4% in food products and 0.8% in beverages in the review period.

Gulf Times
Qatar
NYSE-listed IAA enters into strategic alliance with QFZ-based Jumla Automotive Trading

The New York Stock Exchange (NYSE)-listed IAA, a leading global digital marketplace connecting vehicle buyers and sellers, has entered into a strategic market alliance with the Qatar Free Zone (QFZ)-based Jumla Automotive Trading as part of its efforts to expand global buyer base in the Middle East.Jumla will operate an IAA Auction Center in Doha, helping local buyers in the region to research, bid, buy and transport vehicles from IAA auctions. The first auction in Qatar through IAA's bidding platform 'AuctionNow' will take place on January 23.As a new alliance, Jumla will leverage IAA’s bidding platform to operate its auctions, increasing reach for sellers by integrating its inventory with IAAI.com“We are thrilled to enter Qatar adding to our over 50 branded locations in more than 20 countries and helping to drive continued aggressive growth of our buyer base globally and specifically in the Middle East,” said John Kett, chief executive officer and president of IAA.Highlighting that Jumla Automotive Trading enjoys a strong reputation for excellence and customer satisfaction, he said IAA is eager to combine their strong customer relationships with its technology and world-class platform to meet the needs of more buyers in the region.“We are proud of working with IAA to bring Qatar's expansive range of vehicles to an international marketplace. IAA’s global brand and network will be a vital asset as we look to improve and streamline the buying experience for our customers in Qatar,” said Demetri Melekos, chief operating officer and co-founder of Jumla Automotive Trading.With the help of IAA’s platform, he said its highly trained and qualified team will work efficiently to tailor the process of purchasing a vehicle to each customer’s individual needs and preferences.Headquartered near Chicago in Westchester, Illinois; IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organisations.IAA offers sellers a comprehensive suite of services aimed at maximising vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.

A higher than average selling pressure at the insurance and banking counters led the 20-stock Qatar Index to plummet 2.17% to 10,606.7 points although it touched an intraday high of 10,839 points.
Business
Global concerns drag QSE by 230 points; M-cap erodes QR13bn

Mirroring the global concerns on weak Chinese growth, the Qatar Stock Exchange (QSE) on Tuesday saw more than 230 points fall in key index and capitalisation erode as much as QR13bn.A higher than average selling pressure at the insurance and banking counters led the 20-stock Qatar Index to plummet 2.17% to 10,606.7 points although it touched an intraday high of 10,839 points.About 83% of the traded constituents were in the red in the main market, which reported year-to-date losses of 0.7%.The foreign institutions were increasingly into net selling in the main bourse, whose capitalisation saw QR12.52bn or 2.04% decrease to QR601.81bn, mainly led by large and midcap segments.The Arab retail investors were seen net profit takers in the main market, which saw a total of 0.24mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.08mn changed hands across 44 deals.The Arab institutions’ weakened net buying had its marginal influence on the main bourse, which saw no trading of sovereign bonds.The Islamic index declined slower than the main barometer in the main market, which saw no trading of treasury bills.The Total Return Index tanked 2.17%, the All Share Index by 2.04% and the Al Rayan Islamic Index (Price) by 1.76% in the main bourse, whose trade turnover volumes were on the increase.The insurance sector index plummeted 2.97%, banks and financial services (2.54%), industrials (2.06%), real estate (1.82%), transport (1.23%) and consumer goods and services (0.14%); while telecom was up 0.01%.Major shakers in the main market included Qatar General Insurance and Reinsurance, Inma Holding, Al Khaleej Takaful, Beema, Salam International Investment, QNB, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Lesha Bank, Dlala, Baladna, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, QLM, Barwa, Mazaya Qatar and Nakilat.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Al Meera, Qatar National Cement, Qamco, Aamal Company and Medicare Group were among the gainers in the main market.The foreign funds’ net selling increased significantly to QR45.78mn compared to QR32.66mn the previous day.The Arab individuals were net profit takers to the tune of QR12.58mn against net buyers of QR8.35mn on January 16.The Arab institutions’ net buying declined marginally to QR0.15mn compared to QR0.22mn on Monday.However, the local retail investors’ net buying grew considerably to QR42.97mn against QR19.67mn the previous day.The domestic institutions’ net buying expanded marginally to QR24.85mn compared to QR24.66mn on January 16.The foreign retail investors turned net buyers to the extent of QR7.03mn against net sellers of QR0.18mn on Monday.The Gulf individuals’ net buying strengthened marginally to QR0.07mn compared to QR0.01mn the previous day.The Gulf institutions’ net selling weakened markedly to QR16.73mn against QR20.08mn on January 16.The main market saw a 13% jump in trade volumes to 175.12mn shares, 19% in value to QR669.25mn and 18% in deals to 23,193.

Hari Krishnan
Qatar
ICBF-Beema life insurance cover 'to extend to other nationalities soon'

The flagship ICBF-Beema life insurance scheme, which has been running successfully within the Indian diaspora, will soon be extended to other nationalities, a move that will greatly benefit the low-income group.This came in response to the Indian Community Benevolent Forum (ICBF), which found it challenging to market the life cover product for one particular nationality when it approached companies.The life insurance programme comes with a coverage of QR100,000 for two years at a premium of QR125. The scheme also covers permanent or partial disability up to the maximum covered amount depending on the severity of the disability."ICBF has taken the initiative to go to other communities as well," Beema chief operating officer G Hari Krishnan told media on the sidelines of the listing of Beema.ICBF is an organisation under the patronage of embassy of India, Doha, which undertakes the task of providing succour and solace to underprivileged Indians in Qatar.Highlighting that it initially started as a corporate social responsibility initiative, he said Beema wanted to design a product that is affordable for every section of the society and the ICBF took the initative to spread it among the community.He said the proposal mooted by the ICBF in extending the coverage to other nationalities made sense to Beema because in a low-cost platform, business volumes matter.On claims, which numbered more than a dozen, he said it was done without any hassles.The scheme was started in December 2019 and in a short span of time, it became popular among the Indian diaspora and people started joining in large numbers, especially in the recent past.Many Indian companies as well as Indian associations, too, conducted campaigns to get their staff enrolled in the programme to get maximum members as this is a unique programme that provides maximum benefits at a very low cost.At present, the welfare scheme has more than 30,000 live policies and the potential is large, given the size of the communities, ICBF acting president Vinod Nair told Gulf Times.Through extending the coverage to other nationalities for which it would soon start tapping major companies, he said more expatriates would come under the scheme, he said, adding it would be well received by all the sections of the society, irrespective of the nationalities.“It is a win-win situation for both (ICBF and Beema),” Nair said, adding the extension would be undertaken soon as the necessary formalities have been completed from the ICBF side.