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Barwa has outlined a 2025 strategic plan, which will help increasing revenues – including commencing development of the Madinatna Schools project and the first phase of the Barwa Hills project – and rationalising expenditures."We have prepared a clear strategic plan for the year 2025, focusing on several key areas that represent the foundation for the group’s direction in the coming phase," Barwa Chairman HE Abdullah bin Hamad al-Attiyah said in its 2024 annual report, presented before shareholders.The group aims to achieve sustainable growth in revenue and shareholder returns by maintaining a balanced mix of operational projects that meet the demands of the real estate market while ensuring minimal risks."In the short to medium term, we aim to increase occupancy rates in new real estate projects such as Madinatna and the Argentine Neighbourhood, as well as Phase three of the Madinat Al Mawater’s project, while also maintaining and improving occupancy in other real estate projects," he said.Additionally, the company plans to benefit from the operational returns and maintenance services of the Qatar Schools project (First Package). For the long term, it believes that Qatar’s National Vision 2030 will serve as the main driver for sustained growth.Key goals for 2025 include commencing development of the Madinatna Schools project and the first phase of the Barwa Hills project, completing the leasing of the remaining spaces in phase three of Madinat Al Mawater, and studying and working on master plans and feasibility studies for new projects such as phase four of Madinat Al Mawater and the remaining phases of Barwa Hills in Lusail.The goal also include taking advantage of new legal and economic regulations in the real estate market in Qatar, which is undergoing significant development following the Cabinet decision No. 28 of 2020, which outlines areas where non-Qataris can own and benefit from properties.These include Lusail, where the majority of the group’s land inventory is located. In line with this, the first phase of Barwa Hills has been launched, with further phases planned as part of the group’s strategy to maximise the utilisation of its land assets and enhance returns for shareholders.The 2025 goals include strengthening the level of strategic partnership with the public sector and the government to meet the real estate sector’s needs by participating in available tenders, in accordance with the public private partnership law.Additionally, the company remains committed to developing real estate projects that contribute to meeting the needs of citizens and residents and support the realisation of Qatar’s National Vision 2030, in fulfilment of Barwa Real Estate’s role as a leading national entity in the field of realty development."In 2025, the company will continue to explore available ways to rationalise operational, administrative, and financing expenses to ensure the maximum benefit from these expenditures and assess the possibility of reducing them without impacting the quality of projects and services provided," al-Attiyah said.

The foreign funds’ increased net selling Monday dragged the Qatar Stock Exchange (QSE) as much as 18 points, even as its capitalisation made marginal gains.The transport, banking, insurance and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.17% to 10,403.87 points, although it touched an intraday high of 10,438 points.The local retail investors turned net profit takers in the main market, whose year-to-date losses widened further to 1.53%.The Gulf individuals were increasingly net sellers in the main bourse, whose capitalisation however added QR0.87bn or 0.14% to QR610.16bn on the back of small cap segments.The domestic institutions were however seen increasingly bullish in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn change hands across 10 deals.The foreign individuals were seen increasingly net buyers in the main bourse, whose trade turnover and volumes were on the rise.The Islamic index was seen gaining vis-à-vis declines in the other indices of the main market, which saw no trading of treasury bills.The Gulf retail institutions turned bullish in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was down 0.17% and the All Share Index by 0.13%; while the All Islamic Index rose 0.17% in the main market.The transport sector index shed 1.4%, insurance (0.88%), banks and financial services (0.29%) and telecom (0.28%); whereas real estate gained 1.06%, consumer goods and services (0.89%) and industrials (0.41%).Major losers in the main bourse Doha Insurance, Qatar General Insurance and Reinsurance, Nakilat, Qatar Islamic Bank and Qatar Insurance.Nevertheless, as much as 64% of the traded constituents in the main market extended gains with major gainers being Qatar German Medical Devices, Widam Food, Ezdan, Salam International Investment, Mekdam Holding, Lesha Bank, Dukhan bank, Medicare Group, Baladna, Al Mahhar Holding, Mesaieed Petrochemical Holding, Aamal Company, Estithmar Holding and United Development Company. In the junior bourse, Techno Q saw its shares appreciate in value.The foreign institutions’ net profit booking increased noticeably to QR22.87mn compared to QR17.06mn on March 16.The local retail investors turned net sellers to the tune of QR12.83mn against net buyers of QR2.57mn on Sunday.The Gulf individual investors’ net selling expanded perceptibly to QR2.16mn compared to QR0.15mn the previous day.However, the domestic institutions’ net buying strengthened significantly to QR34.19mn against QR16.48mn on March 16.The foreign individual investors’ net buying rose markedly to QR1.86mn compared to QR0.16mn on Sunday.The Gulf institutions were net buyers to the extent of QR1.21mn against net sellers of QR0.85mn the previous day.The Arab individual investors turned net buyers to the tune of QR0.6mn compared with net sellers of QR1.16mn on March 16.The Arab institutions had no major for the 15th straight session.The main market witnessed a 78% surge in trade volumes to 206.31mn shares and 91% in value to QR439.59mn but on 11% decline in deals to 26,734.In the venture market, trade volumes surged 23% to 0.03mn equities, value by 23% to QR0.08mn and 25% in transactions to 10.

Global apprehensions over an expected economic slowdown in the US on tariff tensions and the regional uncertainties had their reflections on the Qatar Stock Exchange (QSE), which closed 90 points lower this week.The foreign funds were increasingly net profit takers as the 20-stock Qatar Index shrank 0.86% this week which saw the QSE completely waive trading fees on exchange-traded funds (ETFs), effective next week.The real estate witnessed higher than average selling pressure in the main bourse this week which saw global credit rating agency Fitch affirm ratings on Nakilat Inc's $850mn series A senior secured bonds (senior debt) due 2033 at 'AA-' and the $300mn series A subordinated second-priority secured bonds (junior debt) due 2033 at 'A+' with "stable" outlook.The Gulf institutions’ higher net selling had its influence in the main market this week which saw Meeza’s plans to scale its infrastructure to meet the growing needs of enterprises, government agencies, and hyperscalers.The Arab individual investors were increasingly net profit takers in the main bourse this week which saw a total of 0.17mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.4mn trade across 46 deals.However, the domestic institutions were increasingly bullish in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.07mn change hands across 11 transactions.The local individual investors turned net buyers in the main bourse this week which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the other indices of the main market this week, which saw Nakilat mark a significant milestone with the steel cutting ceremony for eight of its new liquefied natural gas carriers at Hanwha Ocean Shipyard in South Korea.Market capitalisation eroded QR7.27bn or 1.18% to QR608.8bn on the back of large and midcap segments this week which saw an International Monetary Fund working paper view a financial conditions index as imperative for Qatar to assess the current state of financial conditions and evaluate the relationship between financial indicators and future growth distribution.Trade turnover and volumes were on the increase in both the main and junior markets this week which saw no trading of treasury bills.The Total Return Index shrank 0.39%, the All Islamic Index by 1.33% and the All Share Index by 0.52% this week which saw the industrials and banking sectors together constitute about 58% of the total trade volumes.The realty sector index tanked 1.16%, insurance (0.85%), banks and financial services (0.68%), industrials (0.42%), transport (0.23%) and telecom (0.07%); while consumer goods and services gained 0.13% this week.About 68% of the traded constituents in the main market were in the red with major losers being Salam International Investment, Barwa, United Development Company, Qatar Industrial Manufacturing, Ooredoo, QNB, Lesha Bank, Dukhan Bank, Dlala, Qatar German Medical Devices, Baladna, Al Faleh Educational Holding, Estithmar Holding, Ezdan and Vodafone Qatar. In the junior bourse, Techno Q saw its shares depreciate in value this week.Nevertheless, QLM, Mekdam Holding, Qatar Cinema and Film Distribution, Qamco, Nakilat and Alijarah Holding were among the movers in the main bourse this week.The foreign institutions’ net selling increased significantly to QR170.13mn compared to QR136.98mn the week ended March 6.The Gulf institutions’ net profit booking strengthened drastically to QR73.38mn against QR23.77mn the previous week.The Arab retail investors’ net selling expanded perceptibly to QR10.83mn compared to QR9.18mn a week ago.However, the domestic institutions’ net buying grew substantially to QR210.2mn against QR191.89mn the week ended March 6.The Qatari individuals turned net buyers to the tune of QR30.64mn compared with net sellers of QR4.8mn the previous week.The foreign retail investors were net buyers to the extent of QR12.02mn against net profit takers of QR12.52mn a week ago.The Gulf individuals turned net buyers to the tune of QR1.77mn compared with net sellers of QR4.64mn the week ended March 6.The Arab funds had no major net exposure for the second week in succession.The main market witnessed a 38% surge in trade volumes to 704.5mn shares, 24% in value to QR1.91bn and 7% in deals to 68,285 this week.In the venture market, trade volumes grew more than six-fold to 0.43mn equities and value also rose more than six-fold to QR1.22mn on more than quadrupled deals to 106.

The Qatar Stock Exchange (QSE) on Wednesday continued to reel under selling pressure, especially from the foreign funds, as its key index lost more than 46 points and capitalisation eroded about QR4bn.The consumer goods and services counter witnessed higher than average profit booking as the 20-stock Qatar Index fell 0.44% to 10,437.96 points, although it touched an intraday high of 10,483 points.The Arab retail investors turned bearish in the main market, whose year-to-date losses widened further to 1.26%.About 64% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR3.94bn or 0.64% to QR609.08bn on the back of small and microcap segments.The Gulf institutions continued to be bearish but with lesser intensity in the main market, which saw as many as 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.32mn change hands across 29 deals.The domestic funds were seen increasingly net buyers in the main bourse, whose trade turnover grew amidst lower volumes.The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.The local retail investors turned bullish in the main bourse, which saw no trading of sovereign bonds.The Total Return Index shed 0.18%, the All Share Index by 0.22% and the All Islamic Index by 0.56% in the main market.The consumer goods and services sector index declined 0.94%, banks and financial services (0.35%), industrials (0.29%), insurance (0.27%) and real estate (0.06%); while transport gained 0.36% and telecom (0.41%).Major losers in the main bourse include Salam International Investment, Ooredoo, Qatar German Medical Devices, Estithmar Holding, Woqod, Dukhan bank, Aamal Company, Mesaieed Petrochemical Holding and Ezdan. In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Qatar Cinema and Film Distribution, Nakilat, Vodafone Qatar, Al Meera and Lesha Bank were among the movers in the main market.The foreign institutions’ net selling increased substantially to QR71.9mn compared to QR6.51mn on March 11.The Arab individuals turned net sellers to the tune of QR1.36mn against net buyers of QR1.72mn on Tuesday.The foreign retail investors’ net buying weakened noticeably to QR0.08mn compared to QR3.73mn the previous day.However, the domestic institutions’ net buying strengthened significantly to QR48.58mn against QR18.58mn on March 11.The local retail investors were net buyers to the extent of QR30.61mn compared with net sellers of QR4.75mn on Tuesday.The Gulf individual investors’ net buying expanded marginally to QR1.59mn against QR1.51mn the previous day.The Gulf institutions’ net profit booking decreased markedly to QR7.6mn compared to QR14.29mn on March 11.The Arab institutions had no major net exposure.The main market witnessed a 7% contraction in trade volumes to 147.94mn shares but on 7% jump in value to QR421.38mn despite 7% lower deals at 14,844.In the venture market, trade volumes rose 4% to 0.1mn equities and value by 4% to QR0.27mn; whereas transactions tanked 38% to 20.

Global credit rating agency Fitch has affirmed ratings on Nakilat Inc’s $850mn series A senior secured bonds (senior debt) due 2033 at ‘AA-’ and the $300mn series A subordinated second-priority secured bonds (junior debt) due 2033 at ‘A+’ with “stable” outlook.The ratings reflect two-notch uplift from the senior and junior bonds’ Standalone Credit Profiles (SCP) at ‘a’ and ‘a-’, respectively, capturing the strong incentives by the government to provide or facilitate extraordinary support to the project directly or via time charters. The SCPs reflect the project’s stable cash flow, supported by consistent operating and financial performance.Nakilat is 100% owned by Qatar Gas Transport Company (QGTC), a joint-stock entity partly owned by state-owned QatarEnergy LNG and government funds. The special shares owned by QatarEnergy enable the government to have extensive decision-making power in QGTC.Highlighting that LNG exports form a large contribution to Qatar’s income (40% of GDP or gross domestic product) and Qatar is progressing toward full LNG value-chain integration; Fitch believes that replacing Nakilat would be possible, but not without a temporary disruption to Qatar’s LNG exports.Nakilat’s junior debt’s ‘a-’ SCP reflects the availability-based nature of revenue with limited exposure to cost risk and an average debt service coverage ratio (DSCR) of 1.27x for 2025-33 under Fitch Rating Case (FRC).The senior debt’s higher SCP reflects its senior ranking and a 24-month standstill period in a junior debt default. The one-notch SCP differential also reflects the junior bondholders’ enforcement rights over the security after the standstill period elapses, resulting in similar probabilities of default on both the senior and junior debt.However, the senior debt’s higher resilience to temporary stress may result in a junior debt default without triggering a default of the senior debt, if the default is remedied before the end of the standstill period.Revenues have historically increased after a rise in operating costs. An operations and maintenance reserve of $300,000 per vessel is in place, as well as a dry-docking reserve, which is funded by daily distributions of $1,900 per vessel. Voyage costs, fuel costs and port charges are borne by charterers.Ship management has so far been outsourced to Shell International Trading and Shipping Company which has historically seen strong operating performance. However, operations are progressively being transferred to Nakilat from Shell. Fitch expects the quality of operations to remain “high”.Nakilat derives its revenue from availability-based charter payments for its 25 vessels. There is no pass-through of availability deductions but historically these have been minimal and are expected to remain at similar levels, according to Fitch.Finding that the time charters also include a generous time allowance for the assets to be unavailable during dry-docking, without incurring any deductions; it said, “We view the charterers QatarEnergy as a strong counterparty. Nakilat is strategic to QatarEnergy and, consequently, in the Qatari LNG value chain, leading to little incentive for the charterers to terminate the contracts.Each LNG vessel has a 40-year design life, which is well beyond the tenor of Nakilat’s debt. It has a long asset life and Nakilat’s fleet is fairly new and modern, reducing the need for major maintenance and repairs in the early life of the assets. Dry-docking exercises that take place every five years address the ongoing maintenance needs of the fleet.

Continued apprehensions on US economic downturn over tariff woes and the regional concerns had their dampening effects on the Qatar Stock Exchange, which Tuesday closed 47 points lower.An across the board selling led the 20-stock Qatar Index knock off 0.45% to 10,484.47 points, although it touched an intraday high of 10.531 points.The domestic institutions’ substantially weakened net buying had its influence in the main market, whose year-to-date losses widened to 0.82%.The real estate, transport and insurance counters witnessed higher than average selling pressure in the main bourse, whose capitalisation melted QR3.95bn or 0.64% to QR613.02bn on the back of small and microcap segments.The Gulf institutions continued to be bearish but with lesser intensity in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn change hands across five deals.The local retail investors also continued to be net sellers but with lesser vigour in the main bourse, whose trade turnover and volumes were on the increase.The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.The foreign funds continued to be net profit takers but with lesser vigour in the main bourse, which saw no trading of sovereign bonds.The Total Return Index shed 0.31%, the All Share Index by 0.42% and the All Islamic Index by 0.6% in the main market.The realty sector index declined 1.05%, transport (0.88%), insurance (0.75%), telecom (0.53%), industrials (0.41%), banks and financial services (0.32%) and consumer goods and services (0.06%).As much as 67% of the traded constituents in the main bourse were in the red with major losers being Barwa, Vodafone Qatar, Ezdan, Meeza, Aamal Company, QNB, Qatar German Medical Devices, Baladna, Gulf International Services, Qamco, Ezdan, Mazaya Qatar and Milaha. In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Mekdam Holding, Al Meera, Woqod, Dukhan Bank and Qatar Islamic Bank were among the gainers in the main market.The domestic institutions’ net buying decreased substantially to QR18.58mn compared to QR56.89mn on March 10.However, the foreign retail investors’ net buying increased noticeably to QR3.73mn against QR1.65mn the previous day.The Arab individuals turned net buyers to the tune of QR1.72mn compared with net sellers of QR3.21mn on Monday.The Gulf retail investors were net buyers to the extent of QR1.51mn against net sellers of QR1.06mn on March 10.The foreign institutions’ net selling weakened substantially to QR6.51mn compared to QR21.39mn the previous day.The Gulf institutions’ net profit booking decreased markedly to QR14.29mn against QR19.3mn on Monday.The local retail investors’ net selling shrank considerably to QR4.75mn compared to QR13.59mn on March 10.The Arab institutions had no major net exposure.The main market witnessed a 30% jump in trade volumes to 158.79mn shares, 1% in value to QR393.98mn and 5% in deals to 15,965.In the venture market, trade volumes shrank 57% to 0.09mn equities, value by 58% to QR0.26mn and transactions by 33% to 32.

With Qatar witnessing excessive demand for data centres, Meeza is scaling its infrastructure to meet the growing needs of enterprises, government agencies, and hyperscalers.“Our upcoming data centre expansions will significantly enhance our capacity, efficiency, and artificial intelligence (AI) readiness, allowing us to support high-performance computing, machine learning, and sovereign cloud solutions,” Mohamed Ali al-Ghaithani, chief executive officer, Meeza said in its 2024 annual report, which was recently presented before shareholders at the annual general assembly meeting.With data centre demand in Qatar exceeding supply, Meeza is committed to aggressively scaling its infrastructure to meet the growing needs of enterprises, government agencies, and hyperscalers, he said.Scaling data centre is one of Meeza’s three key priorities that drive sustainable growth and long-term value creation.Given that Meeza’s data centre facilities are now fully utilised, it has begun the next phase of expansion to achieve the vision to enhance its data centre offering to support the country’s ambitions, according to Meeza chairman Sheikh Hamad bin Abdulla bin Jassim al-Thani.The company operates five certified data centres (M-Vaults 1, 2, 3, 4, 5), providing a total of 14MW of IT capacity, with expansion plans already underway to expand M-Vault 4 and advanced design phases in M-Vault 6 and M-Vault 7 to meet increasing demand from enterprises, government entities, and hyperscalers.With digital transformation accelerating across sectors, Meeza is committed to expanding its secure, high-availability data centre footprint to support the increasing demand for computing power, data storage, and sovereign cloud solutions.Meeza is investing in the expansion of its M-Vault data centre portfolio, increasing capacity to support high-growth workloads, the report said, adding the company is designing high-performance computing (HPC) environments into its new data centres, enabling AI training, machine learning, and data-intensive applications.Meeza continues to provide secure, regulatory-compliant data centre colocation services, ensuring data sovereignty and local cloud adoption.“Through these initiatives, Meeza is not only meeting Qatar’s growing digital infrastructure needs but also reinforcing its role as a trusted partner for hyperscalers, enterprises, and government institutions,” it said.Stressing that AI is at the core of Meeza’s future growth strategy, the board report said through Meeza.AI, the company is developing AI solutions that enhance automation, security, and data intelligence across its service offerings.As businesses and governments continue to migrate towards cloud-first strategies, Meeza said it is committed to delivering secure, scalable, and high-performance cloud solutions that cater to enterprise, hyperscalers, and regulatory requirements.Highlighting that Meeza has shown strong fundamentals and is in a favourable position to capitalise on global industry trends; the board said the combination of high-growth, high-margin, and defensive revenue streams makes it a compelling long-term investment.

Amidst recession fears in the US, the Qatar Stock Exchange Monday settled marginally higher on the back of transport and real estate sectors.The domestic institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.06% or six points to 10,531.81 points, recovering from an intraday low of 10,475 points.The foreign individuals continued to be bullish but with lesser vigour in the main market, which has reported 0.37% losses year-to-date.The foreign funds were seen net profit takers in the main bourse, whose capitalisation was up QR0.32bn or 0.05% to QR616.97bn on the back of microcap segments.The Arab institutions were increasingly net sellers in the main market, which saw as many as 2,951 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn change hands across eight deals.The local retail investors turned bearish in the main bourse, whose trade turnover grew amidst lower volumes.The Islamic index was seen declining vis-à-vis gains in the other indices of the main market, which saw no trading of treasury bills.The Gulf individuals were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was up 0.06% and the All Share Index by 0.07%; while the All Islamic Index shrank 0.14% in the main market.The transport sector index gained 0.55%, real estate (0.12%), industrials (0.05%) and banks and financial services (0.03%); whereas telecom declined 0.11%, insurance (0.08%) and consumer goods and services (0.01%).Major gainers in the main bourse included Nakilat, Alijarah Holding, Qatar Oman Investment, Al Mahhar Holding, Zad Holding and Barwa.Nevertheless, about 59% of the traded constituents were in the red with major losers in the main market being Qatar Industrial Manufacturing, Dukhan Bank, Inma Holding, Dlala, Qamco, Al Faleh Educational Holding, Ezdan, Vodafone Qatar, Milaha and Gulf Warehousing.In the junior bourse, Techno Q saw its shares depreciate in value.The domestic institutions’ net buying increased substantially to QR56.89mn compared to QR1.26mn on March 9.The Arab individuals’ net profit booking declined perceptibly to QR3.21mn against QR5.1mn the previous day.However, the foreign institutions turned net sellers to the tune of QR21.39mn compared with net buyers of QR1.31mn on Sunday.The Gulf institutions’ net profit booking strengthened drastically to QR19.3mn against QR4.34mn on March 9.The local retail investors were net sellers to the extent of QR13.59mn compared with net buyers of QR5.55mn the previous day.The Gulf individual investors’ net profit booking grew marginally to QR1.06mn against QR0.8mn on Sunday.The foreign retail investors’ net buying weakened marginally to QR1.65mn compared to QR2.12mn on March 9.The Arab institutions had no major net exposure.The main market witnessed an 8% contraction in trade volumes to 121.77mn shares but on 21% surge in value to QR390.3mn and 70% in deals to 15,244.In the venture market, trade volumes grew more than 43-fold to 0.22mn equities, value by about 48-fold to QR0.62mn and transactions by 48-fold to 48.

A financial conditions index (FCI) is imperative for Qatar to assess the current state of financial conditions and evaluate the relationship between financial indicators and future growth distribution, according to the International Monetary Fund (IMF)."The FCI is an important leading indicator of Qatar’s non-hydrocarbon growth, highlighting its predictive potential for future economic performance," said the IMF working paper, which developed an FCI for Qatar and used the growth-at-risk (GaR) framework to examine the impact of financial conditions on Qatar’s non-hydrocarbon growth.As Qatar seeks to enhance the financial sector's contribution to growth through the third financial sector strategy (FSS3), the paper said an FCI will be essential for assessing the current state of financial conditions and evaluating the relationship between financial indicators and future growth distribution.Highlighting that the analysis showed that the FCI is an important leading indicator of Qatar’s non-hydrocarbon growth and closely follows the Qatar Central Bank's (QCB) bank's lending survey; the IMF paper said the FCI exhibits a relatively strong correlation with real non-hydrocarbon GDP (gross domestic product) growth, highlighting its predictive potential for future economic performance. Additionally, the credit conditions component of the FCI aligns with the QCB’s bank lending survey, indicating consistency of its FCI with other surveys.The GaR analysis highlights the importance of domestic and external conditions as indicators of real non-hydrocarbon GDP growth performance, it said, adding domestic conditions seem to offer the strongest signal in the short term, whereas the effects of external conditions are significant in both the short and medium term."Overall, the current downside risks to Qatar’s baseline non-hydrocarbon growth projections are relatively mild. Alternative scenario tests indicate that future non-hydrocarbon growth could improve following a reduction in the policy deposit rate. Additionally, non-hydrocarbon growth is primarily influenced by oil prices, with minimal effects stemming from global financial market uncertainty," it said.Finding that financial conditions play a significant role in shaping business cycle fluctuations as they reflect both the feedback of current and past economic conditions and markets’ expectations about the economic outlook; it said FCIs are constructed from a broader combination of domestic and external financial conditions.They serve as tools that facilitate a deeper understanding of macro-financial linkages, as well as enable historical assessments by comparing the current state of financial conditions against their past cycles.Stressing that developing the FCI has become even more important as the country aims to further develop the financial sector through the FSS3. The paper, authored by Dorothy Nampewo, said in Qatar, the financial sector plays an important role in shaping economic activity, and therefore serves as a key pillar in fostering the country's sustainable economic development.The FSS3 aims to enhance innovation and diversification in the financial sector, and to support the country’s goal to become a global financial services centre. The FCI would be important in assessing the current state of financial health, gauging the impact of initiatives aimed at fostering financial market deepening, and evaluating the nexus between financial indicators and the distribution of future growth.

The Qatar Stock Exchange on Sunday opened the week on a stronger note with its key index gaining as much as 12 points on consumer goods and industrials sectors.The local retail investors were increasingly net buyers as the 20-stock Qatar Index rose 0.11% to 10,525.62 points, recovering from an intraday low of 10,495 points.The foreign individuals were seen bullish in the main market, which has reported 0.43% losses year-to-date.The foreign funds were seen net buyers in the main bourse, whose capitalisation was up QR0.58bn, or 0.09%, to QR616.65bn on the back of microcap segments.The foreign institutions continued to be bullish but with lesser vigour in the main market, which saw no trading of exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank).The Gulf institutions’ weakened net selling had its influence on the main bourse, whose trade turnover and volumes were on the decrease.The Islamic index was seen gaining faster than the other indices of the main market, which saw no trading of treasury bills.The Arab retail investors were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.11%, the All Share Index by 0.1% and the All Islamic Index by 0.15% in the main market.The consumer goods and services sector index gained 0.48%, industrials (0.34%), insurance (0.15%), banks and financial services (0.12%) and telecom (0.09%); while transport declined 0.83% and real estate (0.16%).Major gainers in the main bourse included QLM, Qamco, Gulf International Services, Qatar Islamic Insurance and Alijarah Holding.Nevertheless, Nakilat, Milaha, Estithmar Holding, Al Mahhar Holding and Medicare Group were among the shakers in the main market. In the juniour bourse, Techno Q saw its shares depreciate in value.The local retail investors’ net buying increased noticeably to QR5.55mn compared to QR0.72mn on March 9.The foreign individual investors turned net buyers to the tune of QR2.12mn against net sellers of QR0.08mn last Thursday.The foreign institutions were net buyers to the extent of QR1.31mn compared with net sellers of QR33.96mn the previous day.The Gulf institutions’ net profit booking declined perceptibly to QR4.34mn against QR11.01mn on March 9.However, the Arab individuals’ net selling strengthened markedly to QR5.1mn compared to QR3.09mn last Thursday.The Gulf retail investors’ net profit booking grew marginally to QR0.8mn against QR0.24mn the previous trading day.The domestic institutions’ net buying decreased drastically to QR1.26mn compared to QR47.66mn on March 9.The Arab institutions had no major net exposure for the fourth consecutive day.The main market witnessed a 13% contraction in trade volumes to 131.67mn shares, 23% in value to QR323.83mn and 49% in deals to 8,951.In the venture market, trade volumes plummeted 91% to 5,000 equities, value by 91% to QR0.14mn and transactions by 94% to 1.

Qatar’s plan to reorient spending to support knowledge-based growth could boost growth effects of fiscal spending and there is scope to further improve efficiency in spending, according to an International Monetary Fund (IMF) research paper.Finding that Qatar already has top-notch infrastructure (and excess supply in some areas) to help elevate growth potential; it said therefore, public investment should focus on improving human capital, both for nationals and expatriates; providing a more conducive environment for businesses; enhancing climate sustainability; and continuing to adapt to the energy transition.Investment in human capital (education and health) is a welcome key pillar of NDS3 or third national development strategy and there is scope to improve spending efficiency in Qatar, said the research paper ‘Estimating Fiscal Multiplier for Qatar’.Further investment in climate adaptation would mitigate its vulnerabilities to climate stressors, it said, adding more investment to facilitate decarbonisation and promote renewables would help Qatar reach its emission reduction target and smooth the energy transition process.Crowding in private sector investment with efficient public spending would further economic diversification and accelerate the transition to private sector-driven growth, according to the research paper. Finding that econometric results suggest that Qatar’s strong capital spending multiplier became less impactful as the stock of capital rose to a high level, likely as the marginal impact declined; it said this supports Qatar’s strategy to shifts the state’s role to an enabler of private sector-led growth, focusing on expenditure to support build human capital and implementation of broader reform guided by NDS3.Spending by Qatar has helped built the nation’s LNG (liquefied natural gas) production/export capacity and broader infrastructure, driving economic growth and diversification.In the early 1990s, the country developed a multi-directional and fast-track strategy to accelerate the commercialisation of Qatar’s substantial natural gas reserves to diversify and ultimately modernise the economy.Qatar has made large-scale investments across the entire value chain of LNG trains, tankers, and storage and receiving facilities, becoming one of the leading LNG producing countries in the world.To prepare for the 2022 FIFA World Cup and develop Qatar’s infrastructure more broadly, public sector expenditure on major infrastructure projects increased – top-notch infrastructure has been built including the Lusail real estate development, Hamad International Airport, Hamad Port, the Doha Metro and other transportation and social infrastructure.Long-term contributions of such spending were significant – the large investment in general infrastructure ahead of the World Cup is estimated to have driven much of the non-hydrocarbon sector’s growth in the past decade. Qatar is in the process of reducing its footprint and enabling private sector development, the research paper said, adding the private sector historically played a limited role, according to the study. The country has undertaken regulatory reforms to support firm creation, competition, and FDI or foreign direct investment. The telecommunications sector was liberalised, and special economic zones were created. In recent years, the responsibility for certain projects in the real estate, education and healthcare sectors was outsourced to the private sector.QatarEnergy had launched a programme to increase localisation of the energy sector’s supply chain by creating local support services and industries, including SMEs or small and medium enterprises. New legislation on public-private partnerships facilitates the financing of new schools, medical centres and other infrastructure projects by the private sector.The NDS3 was released in January 2024 to intensify transition to private sector-driven growth. The state is set to become an enabler to facilitate this transition, using public spending to support NDS3 reforms.

Notwithstanding the extant US tariff concerns, the Qatar Stock Exchange (QSE) treaded a positive trajectory with its key index gaining as much as 68 points and capitalisation adding QR2.63bn this week. The domestic institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index rose 0.66% this week which saw the QSE remove the minimum trading commission of QR30, replacing it with a fixed proportional commission rate of 0.00275 with no minimum threshold. The transport, telecom, real estate and consumer goods counters witnessed higher than average demand in the main bourse this week which saw the QSE launch Al-Nukhba programme, an educational and training initiative designed to enhance the capabilities of promising family-owned and private companies in Qatar. The foreign funds’ weakened net profit booking had its influence in the main market this week which saw total assets of commercial banks in Qatar register a 3.3% year-on-year growth to QR2.04tn in January 2025. The Gulf institutions were however seen increasingly into net selling in the main bourse this week which saw a total of 0.05mn AlRayan Bank-sponsored exchange-traded fund QATR worth QR0.12mn trade across 22 deals. The Arab individuals were bearish in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.08mn change hands across seven transactions. The foreign retail investors turned net sellers in the main bourse this week which saw as many as 1,000 sovereign bonds worth QR10mn change hands across one deal. The Islamic index was seen outperforming the other indices of the main market this week, which saw Doha Bank’s $500mn global bond, which was recently oversubscribed almost five-fold, saw as much as 55% of the investors from Europe and Asia; while the remaining from the Middle East. Market capitalisation added 0.43% to QR616.07bn on the back of small and microcap segments this week which saw Doha Insurance and Bupa Global enter into a strategic partnership agreement. Trade turnover and volumes were on the decrease in the main market this week which saw no trading of treasury bills. The Total Return Index rose 0.75%, the All Islamic Index by 0.79% and the All Share Index by 0.63% this week which saw the industrials and banking sectors together constitute more than 54% of the total trade volumes. The transport sector index shot up 3.07%, telecom (1.78%), real estate (1.73%), consumer goods and services (0.9%), banks and financial services (0.28%) and industrials (0.1%); while insurance was unchanged this week which saw Qatar’s maritime sector report higher vessels call and brisk growth in movement of containers, RORO and livestock through Mesaieed, Doha and Al Ruwais ports this February on an annualised basis. About 57% of the traded constituents extended gains with major movers being Qatar General Insurance and Reinsurance, Qatar Cinema and Film Distribution, Nakilat, United Development Company, Vodafone Qatar, Doha Bank, Commercial Bank, Woqod, Al Mahhar Holding, Qatar Electricity and Water, Barwa, Ooredoo and Milaha this week. Nevertheless, Gulf International Services, Baladna, Lesha Bank, Qatar German Medical Devices. Dlala, Widam Food, Al Faleh Educational Holding and Mesaieed Petrochemical Holding were among the losers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value this week. The foreign institutions’ net selling decreased significantly to QR136.98mn compared to QR463.31mn the week ended February 27. However, the Gulf institutions’ net profit booking increased drastically to QR23.77mn against QR11.96mn the previous week. The foreign individuals were net profit takers to the tune of QR12.52mn compared with net buyers of QR5.63mn a week ago. The Arab retail investors turned net sellers to the extent of QR9.18mn against net buyers of QR15.99mn the week ended February 27. The Qatari individuals were net profit takers to the tune of QR4.8mn compared with net buyers of QR56.39mn the previous week. The Gulf retail investors turned net sellers to the extent of QR4.64mn against net buyers of QR4.2mn a week ago. The domestic institutions’ net buying weakened substantially to QR191.89mn compared to QR392.64mn the week ended February 27. The Arab funds had no major net exposure against net buyers to the tune of QR0.38mn the previous week. The main market witnessed a 46% plunge in trade volumes to 510.42mn shares, 43% in value to QR1.54bn and 26% in deals to 63,524 this week.

The domestic institutions’ stronger buying support on Thursday lifted the Qatar Stock Exchange by 22 points, notwithstanding the global concerns over US tariff policies. The transport, telecom and real estate counters witnessed higher than average demand as the 20-stock Qatar Index gained 0.21% to 10,514.11 points, recovering from an intraday low of 10,447 points. The local retail investors were seen bullish, albeit at lower levels in the main market, which has reported 0.54% losses year-to-date. The foreign individuals’ weakened net selling had its influence on the main bourse, whose capitalisation added QR1.08bn or 0.18% to QR616.07bn on the back of small and microcap segments. However, the foreign institutions were seen increasingly net profit takers in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.09mn changed hands across eight deals. The Gulf institutions’ strengthened net selling had its influence on the main bourse, whose trade turnover and volumes were on the increase. The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills. The Arab retail investors tuned net sellers in the main bourse, which saw no trading of sovereign bonds. The Total Return Index rose 0.21%, the All Share Index by 0.19% and the All Islamic Index by 0.14% in the main market. The transport sector index shot up 1.39%, telecom (0.37%), realty (0.32%), consumer goods and services (0.16%), industrials (0.08%) and banks and financial services (0.05%); while insurance declined 0.23%. Major gainers in the main bourse included Qatar Cinema and Film Distribution, Milaha, Estithmar Holding, Qatar Electricity and Water, Dukhan Bank, Inma Holding and Nakilat. Nevertheless, Dlala, QLM, Masraf Al Rayan, Vodafone Qatar and Qatari Investors Group were among the shakers in the main market. In the junior bourse, Techno Q saw its shares depreciate in value. The domestic institutions’ net buying increased drastically to QR47.66mn compared to QR21.21mn on March 5. The local retail investors were net buyers to the tune of QR0.72mn against net sellers of QR4.2mn the previous day. The foreign individual investors’ net selling declined noticeably to QR0.08mn compared to QR6.29mn on Wednesday. However, the foreign institutions’ net selling strengthened substantially to QR33.96mn against QR6.38mn on March 5. The Gulf institutions’ net profit booking expanded perceptibly to QR11.01mn compared to QR6.02mn the previous day. The Arab individual investors turned net sellers to the extent of QR3.09mn against net buyers of QR1.64mn on Wednesday. The Gulf individuals were net profit takers to the tune of QR0.24mn compared with net buyers of QR0.04mn on March 5. The Arab institutions had no major net exposure for the third consecutive day. The main market witnessed a 26% surge in trade volumes to 150.89mn shares, 15% in value to QR417.98mn and 25% in deals to 17,591. In the venture market, trade volumes grew more than 18-fold to 55,000 equities and value also rose more than 18-fold to QR0.16mn on 18-fold growth in transactions to 18.

The Qatar Stock Exchange (QSE) has removed the minimum trading commission of QR30, replacing it with a fixed proportional commission rate of 0.00275 with no minimum threshold.The change – which will take effect on March 16 – seeks to empower investors, particularly retail investors, by reducing transaction costs and broadening market access.By lowering transaction costs and facilitating market access, this is expected to encourage more frequent trading, improve market transparency, and enhance the overall investment experience.The revised commission structure is expected to boost market liquidity, attract a more diverse investor base, and enhance the overall efficiency and competitiveness of Qatar’s financial market on both regional and global scale.This initiative aligns with Qatar’s Third National Development Strategy (2024-30) and Qatar’s Third Financial Sector Strategy (3FSS), which aims to foster sustainable economic growth by creating an inclusive and dynamic investment environment.The QSE's move comes as part of its ongoing efforts to enhance market liquidity, stimulate trading activity, and strengthen market competitiveness."This initiative is a key step in our strategy to enhance trading activity and increase market liquidity. By removing the minimum trading commission, we are providing investors with greater flexibility in executing their trades, fostering a more attractive and competitive investment environment, and supporting the sustainable growth of Qatar’s financial market," said Abdulaziz Nasser al-Emadi, acting chief executive Officer of QSE.The decision aligns with global best practices and represents a significant milestone in the development of Qatar’s financial sector.The removal of the minimum commission is anticipated to increase daily trading volumes, as investors will have the flexibility to execute smaller transactions without concerns over cost barriers.The change will also provide greater incentives for brokerage firms, supporting their ability to attract new investors and diversify their client base.The bourse reaffirms its commitment to market development through strategic initiatives and regulatory enhancements that drive liquidity, promote investment diversification, and elevate investor engagement, all in alignment with the QSE strategy (2024-30).

The Qatar Stock Exchange (QSE) has removed the minimum trading commission of QR30, replacing it with a fixed proportional commission rate of 0.00275 with no minimum threshold.This change -- which will take effect on March 16, 2025 -- seeks to empower investors, particularly retail investors, by reducing transaction costs and broadening market access.By lowering transaction costs and facilitating market access, the initiative is expected to encourage more frequent trading, improve market transparency, and enhance the overall investment experience.The revised commission structure is expected to boost market liquidity, attract a more diverse investor base, and enhance the overall efficiency and competitiveness of Qatar’s financial market on both a regional and global scale.This initiative aligns with Qatar’s Third National Development Strategy (2024-30) and Qatar’s Third Financial Sector Strategy (3FSS), which aims to foster sustainable economic growth by creating an inclusive and dynamic investment environment.The QSE's moves comes as part of its ongoing efforts to enhance market liquidity, stimulate trading activity, and strengthen market competitiveness."This initiative is a key step in our strategy to enhance trading activity and increase market liquidity. By removing the minimum trading commission, we are providing investors with greater flexibility in executing their trades, fostering a more attractive and competitive investment environment, and supporting the sustainable growth of Qatar’s financial market," said Abdulaziz Nasser al-Emadi, Acting chief executive Officer of QSE.The decision aligns with global best practices and represents a significant milestone in the development of Qatar’s financial sector.The removal of the minimum commission is anticipated to increase daily trading volumes, as investors will have the flexibility to execute smaller transactions without concerns over cost barriers.The change will also provide greater incentives for brokerage firms, supporting their ability to attract new investors and diversify their client base.The bourse reaffirms its commitment to market development through strategic initiatives and regulatory enhancements that drive liquidity, promote investment diversification, and elevate investor engagement, all in alignment with QSE’s strategy (2024-30).

Qatar is well-positioned to benefit from AI (artificial intelligence)-boosted productivity gains in its labour market and the private sector plays a critical role in advancing the AI adoption, according to the International Monetary Fund (IMF)."The country's proactive approach in enhancing digitalisation and embracing AI have bolstered its digital access and AI readiness, facilitating a rapid increase in AI exposure and labour force AI preparedness," the IMF said in its latest Article IV consultation report.Highlighting that the country’s increased AI exposure is expected to bring more AI-driven productivity gains than risks; the Bretton Woods institution said its expatriate-dominated labour structure also allows the country more flexibility in adjusting its labour force for swifter AI adoption.Asserting that the private sector plays a critical role in advancing AI adoption, creating job opportunities that align with AI's transformative potential; it said private sector's dynamism is pivotal in generating high-skilled employment that could better leverage AI, thereby contributing to future productivity gains.Estimates suggest that further AI adoption in Qatar could significantly boost productivity, with potential gains varying based on factors such as speed of adoption and labour force exposure."However, it is important to recognise that despite the overall advantageous position of Qatari workers, those who are employed in the public sector with clerical positions are more susceptible to job displacement risks associated with AI," it said.Highlighting that efforts to deepen digitalisation and AI adoption should strengthen with policies in place to address potential job displacement risks; IMF said the government could enhance digital skills of the labour force through targeted upskilling and reskilling programmes and digital talent attraction schemes for expatriate workers, facilitate job transition including from the public to the private sector to mitigate job displacement risks, and develop adequate and well-targeted social safety nets to support vulnerable groups.The report found that successful AI adoption could generate considerable gains in labour productivity. With the focus on private sector growth, continued investment in human capital and efforts to attract high-skilled expatriates, Qatar’s labour force may enjoy more opportunities than risks.Several NDS3 (Third National Development Strategy) “enabling clusters” are well positioned to harness AI-driven productivity gains, it said, adding NDS3 identifies IT and digital, financial services, and education as the ‘enabling clusters’ that support diversification efforts.By matching the occupational composition of each economic sector in Qatar with the AI exposure-complementarity matrix, the IMF analysis found that the ‘enabling’ sectors concentrate in the high AI exposure and complementarity quadrant indicating that they are better positioned, compared to other sectors, to benefit from productivity gains from AI adoption.In contrast, key ‘growth clusters’ identified in NDS3, such as manufacturing, logistics, and tourism have limited exposure to AI and hence remain largely shielded from both risks and opportunities related to the technology.

Overcoming the initial selling pressure, the Qatar Stock Exchange on Monday settled 18 points higher, after the US hinted at toning down the proposed 25% tariffs on all goods from Mexico and non-energy imports from Canada.The consumer goods, real estate and industrials sectors witnessed higher than average demand as the 20-stock Qatar Index rose 0.18% to 10,464.09 points, recovering from an intraday low of 10,364 points.The market has reported 1.01% decline year-to-date.The foreign institutions’ weakened net profit booking had its influence on the main bourse, whose capitalisation was seen adding QR0.69bn or 0.11% to QR614.13bn on the back of microcap segments.The domestic institutions continued to be net buyers but with lesser intensity in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.06mn changed hands across 11 deals.The Gulf institutions were seen bearish in the main bourse, whose trade turnover and volumes were on the decline.The Islamic index was seen gaining faster than the other indices of the main market, which saw no trading of treasury bills.The local retail investors tuned net sellers in the main bourse, which saw as many as 1,000 sovereign bonds valued at QR10mn change hands across one deal.The Total Return Index rose 0.27%, the All Share Index by 0.2% and the All Islamic Index by 0.48% in the main market.The consumer goods and services sector index gained 0.86%, real estate (0.83%), industrials (0.31%), banks and financial services (0.13%) and telecom (0.1%); while insurance and transport declined 0.7% and 0.04% respectively.Major gainers in the main bourse included Qatar General Insurance and Reinsurance, Vodafone Qatar, United Development Company, Qatar Cinema and Film Distribution, Estithmar Holding and Woqod.Nevertheless, as much as 52% of the traded constituents in the main market were in the red with major losers being Gulf International Services, Widam Food, Qatar German Medical Devices, Qatar Insurance, QLM and Aamal Company.In the junior bourse, Techno Q saw its shares depreciate in value.The foreign institutions’ net selling weakened substantially to QR34.58mn compared to QR201.89mn on February 27.However, the Gulf institutions turned net sellers to the tune of QR7.43mn against net buyers of QR2.59mn the previous trading day.The local retail investors were net sellers to the extent of QR6.95mn compared with net buyers of QR24.17mn last Thursday.The Arab individual investors’ net selling strengthened noticeably to QR5.13mn against QR0.01mn on February 27.The Gulf individuals were net profit takers to the tune of QR3.91mn compared with net buyers of QR2.87mn the previous trading day.The foreign individual investors turned net sellers to the extent of QR0.93mn against net buyers of QR4.67mn last Thursday.The domestic institutions’ net buying decreased drastically to QR58.91mn compared to QR167.33mn on February 27.The Arab institutions had no major net exposure against net buyers to the tune of QR0.28mn the previous trading day.The main market witnessed a 51% plunge in trade volumes to 113.02mn shares, 53% in value to QR380.34mn and 16% in deals to 17,840.

Doha Bank's $500mn global bond, which was recently oversubscribed almost five-fold, saw as much as 55% of the investors from Europe and Asia; while the remaining from the Middle East; highest international investor participation for any Gulf bank issuance in 2025."International investor participation in the bond was the highest for any GCC bank issuance in 2025. More specifically, 37% went to European investors, 18% to Asia and 45% to the Middle East," said Doha Bank, which returned to the international bond market with a $500mn Reg S only issuance with a tenor of five years and coupon rate of 5.25% per annum."The bond was a great success attracting significant investor demand as demonstrated by an order-book that closed at $2.5bn," the lender said in a statement.In terms of investor type, as much as 44% went to fund managers, 44% to banks and private banks, and 12% to insurance companies, pension funds and agencies, it said, adding the investor distribution and diversity reflect the positive reception for Doha Bank in the international market.Doha Bank announced its intention to access the bond market early on February 25, and held marketing calls with several investors including some of the worlds’ largest and most reputable fund managers.On the subsequent day, the bank opened the order-book and raised $500mn at a competitive credit spread of 120 basis points (bps) over the five-year US Treasury rate, reflecting 35 bps of tightening from initial price thoughts of 155 basis points. Such competitive levels drove the investors’ demand to record high oversubscription rate.Investor demand exceeded expectations and international accounts from Europe and Asia were the largest in the transaction, allowing the bank to diversify its investor base at an attractive cost of funds, it said.“The credit spread, and overall pricing achieved on this bond is aligned with our strategy to raise funding at competitive levels while diversifying our investor base,” said Sheikh Abdulrahman bin Fahad bin Faisal al-Thani, the bank's group chief executive officer.Dr Fawad Ishaq, chief treasury and investment officer said this transaction achieved the key objectives of maximum distribution outside the region at the tightest levels while helping in extending maturity profile of liabilities for the bank.Doha Bank was last in the market in March 2024 with a similar $500mn bond. The bond was issued under Doha Bank’s $3bn Euro Medium Term Note programme that is listed on the London Stock Exchange.The issue was arranged and offered through a syndicate of joint lead managers that included ANZ, Deutsche Bank, Emirates NBD Capital, HSBC, Kamco Invest, Mashreq, MUFG, QNB Capital and Standard Chartered Bank, as well as, co-managers, Industrial Commercial Bank of China (Qatar Financial Centre Branch) and the Commercial Bank of Qatar.(Ends)