Business

Ahead of MSCI index review later this month, the Qatar Stock Exchange (QSE) closed the week on a slumber with its key index losing more than 100 points and capitalisation melting in excess of QR3bn.The banks, consumer goods and insurance counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.91% this week which saw Gulf Warehousing and QC+ plan the largest regional logistics hub specialised in fine art storage within a dedicated free zone in Doha.The local retail investors’ increased net selling had its influence on the main bourse this week which saw Dukhan Bank sign an exclusive agreement with Global Infrastructure Partners, a part of BlackRock, to provide the Qatari market with Shariah-compliant strategic products and solutions.The market was skewed towards shakers in the main market this week which saw Ahlibank Qatar complete the issuance of debt securities valued at QR500mn.The Gulf retail investors were seen bearish in the main bourse this week which saw Qatar award more than QR15bn worth projects through government tenders and auctions during the third quarter (Q3) of 2025.The Gulf funds’ weakened net buying had its impact on the main market this week which saw Qatar’s public budget record QR1.4bn deficit during Q3-2025.The domestic institutions continued to be net sellers but with lesser intensity in the main market this week which saw Baladna find place in Qatar Index, effective from December 1, 2025.The foreign funds were seen net buyers in the main bourse this week which saw a total of 0.09mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.21mn trade across 44 deals.The Arab individuals turned bullish in the main market this week which saw a total of 0.01mn Doha Bank-sponsored exchange traded fund QETF worth QR0.1mn trade across 18 transactions.The Islamic index was seen declining slower than the other indices of the main market this week, which saw a total of 1,000 sovereign bonds valued at QR10.14mn trade across one deal.Market capitalisation shed QR3.28bn or 0.5% to QR656.33bn on the back of mid and small cap segments this week which saw no trading of treasury bills.Trade turnover and volumes were on the decrease in both the main and junior markets this week, which saw the bank, industrials and consumer goods sectors together constitute more than 74% of the total trade volumes.The Total Return Index shed 0.91%, the All Share Index by 0.94% and the All Islamic Index by 0.63% this week.The banks and financial sector index declined 2.01%, consumer goods and services (1.54%) and insurance (1.14%); while telecom gained 3.18%, transport (1.16%), real estate (0.63%) and industrials (0.06%) this week.More than 60% of the traded constituents were in the red with major losers being Widam Food, Qatar Cinema and Film Distribution, Qatar German Medical Devices, Commercial Bank, Qatar Oman Investment, Qatar Islamic Bank, QIIB, Dukhan Bank, Mannai Corporation, Baladna, Qatar Insurance and Mesaieed Petrochemical Holding. In the venture market, Techno Q saw its shares depreciate in value this week.Nevertheless, QLM, Vodafone Qatar, Ooredoo, Doha Insurance, Doha Bank, Salam International Investment, Industries Qatar, Ezdan, Barwa, Milaha and Nakilat were among the movers in the main bourse this week.The Qatari individuals’ net selling increased substantially to QR31.29mn compared to QR17.42mn the previous week.The Gulf retail investors turned net sellers to the tune of QR11.72mn against net buyers of QR1.12mn a week ago.The Gulf institutions’ net buying decreased drastically to QR61.02mn compared to QR97.94mn the week ended November 7.However, the foreign institutions were net buyers to the extent of QR12.73mn against net sellers of QR2.91mn the previous week.The Arab retail investors turned net buyers to the tune of QR10.06mn compared with net sellers of QR11.71mn a week ago.The foreign individuals were net buyers to the extent of QR0.67mn against net profit takers of QR10.75mn the week ended November 7.The domestic institutions’ net selling weakened significantly to 41.46mn compared to QR56.28mn the previous week.The Arab institutions had no major net exposure for the third straight week.The main market saw 13% contraction in trade volumes to 513.53mn shares, 5% in value to QR1.6bn and 16% in deals to 99,358 this week.In the venture market, trade volumes tanked 28% to 0.18mn equities, 30% in value to QR0.4mn and 20% in transactions to 37.

Merck & Co agreed to acquire Cidara Therapeutics Inc, a biotech company developing a flu treatment, as part of its ongoing efforts to make up for the upcoming patent loss of its blockbuster cancer drug Keytruda. Merck will pay $221.50 a share in cash for Cidara in a tender offer, more the twice Thursday’s closing price, for a total transaction value of about $9.2bn, the companies said yesterday in a statement. Cidara’s shares were up 106% at the start of trading yesterday in New York, while Merck’s stock was down 0.8%. As of Thursday’s close, Cidara’s shares had risen 294% this year. Merck shares closed up 1.6% on Thursday, taking its decline this year to 6.6%. Merck is seeking deals to expand its portfolio of treatments as it prepares for patent losses that are expected to erode its sales by $18bn over the next five years. In 2028, Merck faces a patent expiration for Keytruda, the best-selling drug in pharmaceutical history which accounted for almost half of the company’s revenue last year. The company also announced a similar size purchase in July, when it agreed to buy respiratory drugmaker Verona Pharma Plc for around $10bn. Merck “continues to go for a string-of-pearls approach to M&A rather than sizing up for an asset that could uniquely solve its patent cliff,” Mizuho’s Jared Holz said in a note Friday. The company beat rival pharma companies in a heated bidding war, according to the Financial Times, which earlier reported the deal. It’s among a spate of competitive deals in the pharma industry, which are all vying for new drugs to replenish their pipelines. Last week, Pfizer Inc. beat out Novo Nordisk A/S in a very public bidding war for obesity biotech Metsera Inc. in a $10bn deal for the three-year-old company. The value of biotechnology and pharmaceuticals deals globally has risen 31% this year to about $187bn, according to data compiled by Bloomberg, driven by transactions including Johnson & Johnson’s $14bn-plus acquisition of Intra-Cellular Therapies Inc and Novartis AG’s recently announced takeover of Avidity Biosciences Inc. Merck is one of the biggest vaccine makers, a group that’s under threat by the Trump administration. Cidara’s drug, CD388, is not a vaccine, meaning it doesn’t depend on producing an immune response. It’s a long-acting treatment to prevent the flu in people who are at higher risk of complications. It’s currently in a late-stage trial. Cidara says it could provide an additional option to vaccines and antivirals to help prevent influenza. Merck Chief Executive Officer Rob Davis called the drug an “important driver of growth through the next decade.” The flu remains a major public health problem, with tens of thousands of people dying from the virus each year just in the US. Last winter the US experienced by some measures its worst flu season in 15 years, and last season’s flu vaccines were only about 56% effective. The purchase has been approved by both Merck’s and Cidara’s boards, and is expected to close in the first quarter of 2026. Merck plans to update investors on a call on Monday morning. BofA Securities Inc. and Gibson Dunn LLP were Merck’s advisers in the deal. Evercore and Goldman Sachs & Co, along with Cooley LLP advised Cidara.

Baladna will replace Barwa Real Estate Company in the Qatar Stock Exchange's main 20-stock QSE index, effective from December 1. The other constituents of the main barometer will remain QNB, Qatar Islamic Bank (QIB), Industries Qatar (IQ), Nakilat, Commercial Bank, AlRayan Bank, Ooredoo, QIIB, Dukhan Bank, Milaha, Woqod, Qatar Electricity and Water (QEWC), Doha Bank, Mesaieed Petrochemical Holding (MPHC), Vodafone Qatar, Gulf International Services, Qamco, Estithmar Holding and Ezdan. Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continues to reflect the purpose of the index. Aamal Company and Meeza QSTP will join the Al Rayan Islamic Index, whose other constituents are IQ, QIB, AlRayan Bank, Ooredoo, Dukhan Bank, Woqod, United Development Company, MPHC, Barwa, Vodafone Qatar, Milaha, QEWC, QIIB, Qamco, Estithmar Holding, Medicare Group, Al Meera, Ezdan, Baladna, Qatar National Cement and Qatar Islamic Insurance. Al Mahhar Holding will join QSE All Share Index and Consumer Goods and Services Index. All listed companies are ranked by giving free float market capitalisation with a 50% weight and average daily value traded also 50% weight. Companies with velocity less than 5% are excluded from the review, as are entities whereby a single shareholder can only own less than 1% of outstanding shares. Any qualifying component exceeding 15% weight in the index as of market close March 28, 2023 will have its weight capped at the 15% level and excess weight allocated to remaining stocks proportionately. The index free-float for a stock is total outstanding shares minus shares directly owned by government and its affiliates, those held by founders and board members and shareholdings above 10% or greater of the total outstanding (except those held by those held by pension funds in the country). The bourse has seven sectors – banks and financial services (with 13 constituents), insurance (seven), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (14) in the ‘All Share Index’.

The Indian Business and Professional Council (IBPC) Qatar has become the first international partner for India's NCS–E2E Global Mobility Programme, an initiative by Federal Ministry of Labour and Employment that leverages the National Career Service (NCS) portal to facilitate international labour mobility and connect job seekers with global opportunities. This comes after the IBPC Qatar made an offer to Dr Mansukh Mandaviya, Federal Minister of Labour and Employment, who was recently in Qatar, to leverage its strong membership base for the initiative, through which India aims to support the smooth mobility of skilled workers through skilling, matching, and coordinating with other ministries to ensure compliance with visa and mobility arrangements. Mandaviya participated in a special high-level session on “NCS & Skilled Migration Pathway; jointly organised by The Embassy of India, the IBPC and the Confederation of Indian Industry (CII). Underscoring India's progress in labour reforms, future-ready skill infrastructure, and international mobility frameworks; he highlighted India's strong capability to contribute skilled talent to global industries and reiterated the government’s commitment to strengthening safe, structured and efficient global mobility channels. The partnership represents not only economic collaboration but also a shared responsibility for promoting ethical recruitment practices and ensuring workforce sustainability, according to Mandaviya. Thaha Muhammed Abdul Kareem, President of IBPC Qatar, reaffirmed its commitment to advancing the initiative of NCS–E2E Global Mobility Programme. Supported by its robust network of business owners and professionals, and guided by the Embassy of India in Doha, IBPC Qatar will continue to build upon the International NCS–E2E Partnership by fostering meaningful collaborations, empowering professionals, and supporting sustainable development across both nations. Vipul, ambassador of India to Qatar, reaffirmed the strong bilateral relationship and India’s commitment to supporting Qatar’s evolving workforce needs through structured talent pathways and skills cooperation. Ajay Sharma, Joint Secretary made a presentation about E2E processes by the Ministry of Labour & Employment and showcased India’s expanding skill-development architecture, digital employment systems, and global workforce readiness initiatives. The session focused on India’s strategic vision to position itself as a global talent powerhouse capable of addressing worldwide skill shortages. It highlighted the role of the NCS Portal, a flagship digital initiative of the Ministry of Labour & Employment, Government of India, designed to seamlessly connect India’s skilled professionals with international employment opportunities.

The fourth edition of the ‘Business Continuity & Resilience Conference’ (BCRC), slated for November 27 in Doha, is expected to will highlight the crucial role of risk management, business continuity, resilience, and crisis management in an era where the widespread adoption of smart solutions, artificial intelligence (AI), machine learning, and predictive analytics is fundamentally transforming how organisations approach risk.Speaking at a press conference yesterday, BCRC president Abdullatif Ali al-Yafei announced the details of the conference in the presence of Hassan al-Emadi, Senior Director Business Accounts at Ooredoo Qatar; Nayaz Mohammed, Cyber and Digital Trust Partner at PwC; and Sarah Abdulla, general manager of the Qatar Businessmen Association (QBA).“AI, machine learning, and predictive analytics are redefining how organisations manage risk and crises. These technologies empower companies to move beyond simply responding to crises and build proactive resilience. This is the new frontier of organisational resilience that we will explore together.“Traditional business continuity management, resilience, and risk management, often reactive in nature, are no longer sufficient to meet these challenges. Instead, organisations must adopt smart, proactive, and adaptive strategies to leverage disruptions as opportunities for innovation and competitive advantage,” al-Yafei pointed out.He further explained, “AI and smart solutions are revolutionising risk management and operational resilience by enabling predictive risk intelligence that forecasts disruptions like cyber threats and supply chain issues for proactive mitigation, automated crisis response systems that enhance real-time decision-making while minimising downtime and errors, resilient Internet of Things (IoT) and AI-monitored infrastructure that ensures continuity across critical sectors, and advanced machine learning cybersecurity that rapidly detects and neutralises threats.”AI is rapidly taking over critical business functions, al-Yafei pointed out, saying “the game is becoming serious; this is no longer experimental.” He also highlighted that numerous organisations are making substantial investments in smart solutions and AI, leading to a growing dependence on these technologies for critical functions and operations across all sectors.“But what if the AI fails? This conference will aim to address hard questions and share practical approaches, and show ways to safeguard our business.Some of these questions are how do you continue AI operations in the face of a cyberattack, and how do you deal with AI actors or business partners or customers that suddenly malfunction? These and more questions will be discussed during the conference,” al-Yafei stressed.

The global oil market faces an even bigger surplus next year of as much as 4.09mn barrels per day as Opec+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday.The outlook from the IEA, which advises industrialised countries, is the latest warning that the oil market is heading for oversupply. A surplus of 4.09mn bpd would be equal to almost 4% of world demand, and is much larger than other analysts’ predictions.“Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil demand growth remains modest by historical standards,” the IEA said in its monthly report.Opec+, or the Organisation of the Petroleum Exporting Countries plus Russia and other allies, has been boosting output since April. Other producers, such as the US and Brazil, are also increasing supply, adding to glut fears and weighing on prices.Oil prices edged higher to around $63 a barrel after the IEA report to recoup some of the 2% drop on Wednesday after Opec shifted its 2026 outlook to a small surplus, having earlier seen a sizeable deficit.Global oil supply will grow by around 3.1mn bpd in 2025, and 2.5mn bpd next year, each up by around 100,000 bpd on the month, the IEA said.Supply is rising faster than demand in the IEA’s view even after upward revisions on Thursday. The agency now expects oil demand to rise by 770,000 bpd next year, up 70,000 bpd from last month, citing increased needs in petrochemical plants.The short-term outlook in the IEA’s monthly report contrasts with the agency’s annual outlook on Wednesday, which sees global oil and gas demand potentially rising until 2050.Opec sees a surplus of just 20,000 bpd next year according to Reuters calculations based on its own monthly oil market report on Wednesday, although this marks a further retreat from its forecast of a sizeable deficit.Global oil output was 6.2mn bpd higher in October than at the start of this year, divided evenly between Opec+ and non-Opec producers, the IEA said. Top Opec producer Saudi Arabia contributed 1.5mn bpd of the increase, while Russia added just 120,000 bpd amid sanctions and Ukrainian attacks.Russian oil exports have continued largely unabated despite new US sanctions on Russian firms Rosneft and Lukoil, which still may have the most far-reaching impact yet on global oil markets, the IEA said.The IEA added that new entities have already started handling Russian exports as it adapts to sanctions. In October, companies MorExport, RusExport and NNK, which have only been active since May, lifted around 1mn bpd of Russian crude and fuels, it said.The Paris-based IEA also drew attention to a sharp rise in global oil inventories, which rose to their highest since July 2021 in September at just under 8bn barrels.The increase was driven by a sharp increase in waterborne oil in storage, which rose by 80mn barrels in September.Preliminary October data shows further rises for global stocks, again driven by increasing waterborne barrels, the agency added.

Qatar is participating in the International Conference on Competition and Consumer Protection in Tbilisi, Georgia, bringing together heads of competition and consumer protection authorities and experts from around the world.The meeting, which will conclude Saturday, is being organised by the Georgian Competition and Consumer Agency, with the participation of leading international organisations, including the Organisation for Economic Co-operation and Development (OECD), the International Competition Network (ICN), and the United Nations Conference on Trade and Development (UNCTAD).The Qatari delegation was headed by Hassan bin Sultan al-Ghanim, Assistant Undersecretary for Consumer Affairs at the Ministry of Commerce and Industry. The delegation delivered remarks on Qatar’s efforts to advance competition policies, promote fair markets, and safeguard consumer rights in line with global best practices.The conference discussed key themes, including the enforcement of competition law both in preventing and responding to anti-competitive practices, oversight of mergers and acquisitions, competition policies in regulated sectors, enhancing consumer protection, combating misleading commercial practices, and protecting vulnerable groups. It also addressed anti-dumping policies and ways to strengthen the resilience of national industries.He delivered insights emphasising the importance of exchanging international expertise and developing innovative regulatory tools to ensure a competitive economy that protects consumers and supports the investment ecosystem.Qatar’s participation in the conference reflects a commitment to strengthening international co-operation and benefiting from leading global expertise in developing effective systems of competition and consumer protection, in support of sustainable economic development.

His Excellency Deputy Governor of the Qatar Central Bank Sheikh Ahmed bin Khalid bin Ahmed bin Sultan al-Thani participated in the meeting of the Financial Stability Board Regional Consultative Group for the Middle East and North Africa (Mena), which was held in Istanbul Thursday.The meeting discussed a number of topics on the agenda and appropriate decisions were taken, the QCB said.

China’s dominance in clean energy has put the country on a singularly strong footing when it comes to competing with the rest of the world — particularly the US — in building artificial intelligence.That’s according to Julian Wentzel, chief sustainability officer at HSBC Holdings, who says an economy built on renewable energy brings with it advantages that can’t be replicated by fossil fuels.“China has put themselves in a very unique position in terms of the energy requirement to fuel their economy and ultimately their AI architecture,” Wentzel said in an interview.The vast build-out of clean energy in China — the country is on track to once again break its own record in installing renewable power this year — “enhances their cost of capital,” he said.Once renewable energy infrastructure is built and the upfront investment has been paid off, producing extra energy carries effectively no incremental cost; fossil fuels, in contrast, require ongoing costs for extraction, transport, refining and distribution, he said.“Once you’ve got the architecture in place, as the demand grows, you can deliver that demand at zero cost,” Wentzel said. As the “percentage cost of every incremental kilojoule of power relative to total GDP declines over time,” it becomes “a very powerful lever to the underlying growth of an economy.”The comments stand in contrast to the policy position of the government in the US, where Energy Secretary Chris Wright has argued that a rapid transition to clean energy will raise energy costs and hurt economic growth. And for now, fossil fuels continue to provide a major share of the energy powering AI data centres.Microsoft Corp Chief Executive Officer Satya Nadella said recently the supply of power, rather than the availability of semiconductors, accounted for the biggest bottleneck in data centre capacity. And by some estimates, the energy needs of existing and planned AI infrastructure in the US can’t be met with current supply.That dynamic has created an opportunity for oil majors to cash in on the enormous demand for energy that will be needed to power data centres. Chevron Corp said on Wednesday it will provide natural gas-fired power to a data centre in West Texas, the beginning of a new line of business for the company to capitalise on the AI boom.The global race to dominate AI depends on an array of factors that includes chips and supply chains as well as rare earths and key metals such as copper. But energy supply is key, and because renewables are low-cost to run once infrastructure is built, countries that have greater access to them have an advantage, Wentzel said.China is challenging developments in the West not just due to its dominance in cheap renewable energy, but also due to its approach to building artificial intelligence. That became apparent earlier this year, when startup DeepSeek indicated the country is capable of producing AI at a much lower cost and greater energy efficiency than US rivals.China’s growing dominance is also shaping talks at the COP30 summit in Belem, Brazil, where California Governor Gavin Newsom took several opportunities to warn that the US risks losing out on numerous fronts.One of the great abdications of the climate fight is “the own goal of the president of the US who simply doesn’t understand how enthusiastic President Xi is that the Trump administration is nowhere at COP30,” Newsom said.The US and legacy automakers “better wake up to that,” Newsom said at a press conference. “This is about economic power.”China manufactures about 80% of the world’s solar panels, supplies some 60% of the planet’s wind turbines, 70% of its electric vehicles and 75% of batteries, all at a lower financial cost than the West.To be sure, though China is adding unprecedented amounts of wind and solar, it’s still investing heavily in fossil fuels. That includes coal, which is one of the reasons the country produces almost 30% of global emissions.Wentzel said economies that rely more on clean energy are also more likely to reduce volatility in inflation.“Removing dependence on fuel commodities reduces capital account fluctuations, exposure to inflation and price swings,” he said. “As renewable systems scale, energy costs as a share of GDP can fall, strengthening the financial efficiency of the system and supporting higher economic growth.”

China’s credit expansion was the weakest in more than a year last month, dragged down by slower government bond sales and sluggish borrowing demand across the economy.Aggregate financing, a broad measure of credit, increased 815bn yuan ($115bn) in October, according to Bloomberg calculations based on data released by the People’s Bank of China on Thursday. That’s the lowest level since July 2024 and well short of the 1.2tn-yuan forecast by economists in a Bloomberg survey.Financial institutions recorded an expansion of 219bn yuan of new loans in the month, also worse than expected, with growth in the outstanding stock of loans to the real economy reaching a record low.Government bond issuance has recently slowed compared with a year ago, as authorities brought forward sales earlier in 2025. Another factor at play for credit growth is seasonal, since banks are usually not in a rush to meet their lending targets at the beginning of each quarter.“Disappointing as the October credit report is, we don’t expect it to push the People’s Bank of China to loosen its key policy levers any further this year. But the PBoC remains in an easing cycle and will probably keep liquidity conditions supportive for growth. Given the weakness in the economy, we see it delivering fresh easing in the first quarter of next year,” says David Qu, Bloomberg Economics.The disappointing reading came despite the boost from the rollout of funding provided under China’s new policy financing tool, which is worth 500bn yuan. It underlined just how sluggish borrowing demand has become in the face of weak consumer and business confidence.Companies were reluctant to borrow for investment or expansion, as mid- and long-term corporate loans only expanded 31bn yuan, less than a fifth the level a year ago.Household mid-and long-term loans, a proxy for mortgages, contracted again, in a sign consumers continue to shy away from home purchases.Taken together, additional borrowing by households so far this year was the smallest since the global financial crisis in 2008.“Weak mortgage demand remains a major drag on credit growth,” said Leah Fahy, China economist at Capital Economics. “It’s also clear that the subsidies for consumer loans launched at the start of September haven’t put a floor under household demand.”Banks struggling to find borrowers are increasingly doling out fake loans to clients in order to meet government-set targets for credit, Bloomberg News has reported.For now, China’s central bank has signalled it remains patient with the continued slowdown in credit growth, saying it’s natural as the economy transitions away from old growth drivers. That guidance has led to reduced expectations for further interest rate cuts by the end of this year.Looking ahead, analysts at Barclays Bank see faster sovereign debt sales offering more support toward the end of the year and into 2026. “Government bond issuance could gain pace in the coming months,” they said.

The Qatar Financial Markets Authority (QFMA) participated in the annual meeting of the Africa/Middle East Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO), which was held in the UAE. QFMA chief executive officer Dr Tamy bin Ahmad al-Binali attended the meeting, which discussed several issues and topics, including online harms in digital securities markets, the regional capital markets integration, the members’ experiences and initiatives in this regard, lessons learned and challenges ahead. During the workshop accompanying the meeting, the shift towards the use of tokenised digital assets (tokenisation) in financial markets was highlighted and discussed whether this technology represents a natural progression in market development or poses a challenge to traditional regulatory systems. The meeting also explored modern trends in the future of sustainable finance, how environmental, social and governance (ESG) considerations have become part of the global financial system, and how financial markets can be reshaped to keep pace with these new standards. On the sidelines of the meeting, al-Binali met with Emmanuel Givanakis, chief executive officer of the ADGM Financial Services Regulatory Authority (FSRA) in Abu Dhabi. During the meeting, the two sides exchanged views on several issues and topics of mutual interest, and they discussed bilateral co-operation, particularly in the areas of capital markets and financial services. They also reviewed the key global developments and trends in this field and explored future avenues for collaboration between both parties.

The Qatar Investment Authority (QIA), the country's sovereign wealth fund, has invested in d-Matrix, a pioneer in generative AI (artificial intelligence) inference for data centres.Valued at $2bn and bringing the total raised to date to $450mn, d-Matrix will use the new capital to advance their roadmap, accelerate global expansion and support multiple large-scale deployments of the world’s highest performing, most efficient data centre inference platform for hyperscalers, enterprise, and sovereign customers.The oversubscribed round attracted leading investment firms across Europe, North America, Asia, and the Middle East. The funding was co-led by a global consortium including BullhoundCapital, Triatomic Capital, and Temasek, and welcomed new investors including QIA and EDBI, alongside follow-on participation from M12, Microsoft’s Venture Fund, as well as Mirae Asset, Industry Ventures, and Nautilus Venture Partners.d-Matrix's full-stack inference platform combines breakthrough compute-memory integration, high-speed networking, and inference-optimised software to deliver 10× faster performance, 3× lower cost, and 3–5× better energy efficiency than GPU-based systems.This step-change in performance and efficiency directly addresses growing AI sustainability challenges. By enabling one data centre to handle the workload of ten, d-Matrix offers a clear path to reducing global data centre energy consumption while enabling enterprises to deliver cost-efficient, profitable AI services without compromise.“From day one, d-Matrix has been uniquely focused on inference. When we started d-Matrix six years ago, training was seen as AI’s biggest challenge, but we knew that a new set of challenges would be coming soon,” said Sid Sheth, chief executive officer and co-founder of d-Matrix.“We predicted that when trained models needed to run continuously at scale, the infrastructure wouldn't be ready. We've spent the last six years building the solution: a fundamentally new architecture that enables AI to operate everywhere, all the time. This funding validates that vision as the industry enters the Age of AI Inference,” he added.Investor confidence reflects d-Matrix’s differentiated technology, rapid customer growth, and expanding network of global partners — including the recently announced d-Matrix SquadRack open standards-based reference architecture with Arista, Broadcom, and Supermicro.A strong product roadmap featuring 3D memory-stacking innovations and a customer-centric go-to-market strategy further establishes d-Matrix as a cornerstone of the new AI infrastructure stack.

The seventh Gulf Businesswomen's Forum, organised by the Federation of GCC Chambers (FGCCC) in co-operation with the Qatar Chamber (QC) and with the support of the General Secretariat of the Co-operation Council for the Arab States of the Gulf (GCC), concluded on Thursday. The event was held under the theme "Entrepreneurship and Sustainable Investment". The forum's final statement, issued after two days of discussions, called for encouraging Gulf women to enter promising economic sectors, promoting digital transformation and the adoption of modern technologies in women's business projects, and empowering them to utilise smart solutions to enhance efficiency and competitiveness. The statement also emphasised the need to increase the participation of Gulf women in non-traditional sectors such as technology, renewable energy, creative industries, and financial technology through specialised training and development programs. **media[381270]** The statement recommended activating the "Gulf Businesswomen's Platform," launched during the forum, to serve as a unified Gulf database for communication and the exchange of investment opportunities among businesswomen. It further recommended supporting small and medium-sized enterprises (SMEs) led by Gulf women through joint financing and training initiatives. Assistant Secretary-General of the FGCCC, Noura al-Salem affirmed the Federation's commitment to following up on the implementation of the forum's outcomes and recommendations in coordination with relevant authorities in the Gulf Co-operation Council (GCC) countries. This aims to support the Gulf women's entrepreneurship ecosystem and enhance its contribution to sustainable economic development. **media[381271]** The second day of the forum featured three working sessions and showcased further success stories of Gulf businesswomen and entrepreneurs. Board member of QC and Chairperson of the Qatari Businesswomen's Forum, Ibtihaj al-Ahmadani and several heads of participating delegations were in attendance. The first session, "Gulf Businesswomen and Sustainable Investment," explored the contribution of Gulf businesswomen to the knowledge economy, the challenges facing non-traditional investments, and the role of modern technologies in developing women's projects. The second session, "Women Entrepreneurs in the Gulf: From Tradition to Innovation," discussed the role of education and training in empowering Gulf women to engage in modern investments, the future of investments for businesswomen in the Gulf within the framework of Vision 2030, and the non-traditional sectors that have become a new destination for Gulf businesswomen. The third session, "Role of Arbitration in Enhancing the Gulf Women's Business Environment," addressed several topics, including the role of arbitration in protecting the investments of Gulf businesswomen, fair and transparent contracts as a guarantee for the success of Gulf businesswomen's investments, and resolving commercial disputes through arbitration.

A buildup of a billion barrels of oil on the world’s oceans includes a disproportionately large amount of crude from nations subject to some kind of sanctions — a sign the measures are bringing a degree of disruption to the oil trade. Of the surge in oil on tankers since the end of August, as much as roughly 40% of the increase is barrels from Russia, Iran, Venezuela, or unclear origin, according to vessel-tracking data from Vortexa, Kpler and OilX. Even the lowest estimate, at about 20%, is a larger share of global crude production than the three nations have. The buildup doesn’t mean the barrels will never sell, but it is a threat to the revenues of sanctioned petrostates, with further ramifications for a global oil market that’s forecast to be headed for oversupply. While the increase partly reflects higher output, it also suggests some level of difficulty discharging. There’s also been a simultaneous surge in unsanctioned supplies. The fate of all that crude on water, affected by sanctions or not, will go a long way to shaping how oil prices move over the next few months, traders said. Caution over the latest Western measures is triggering some reshuffling of crude flows, with ripple effects for major importers like India and China, while a stretched out tanker fleet briefly sent daily shipping costs above $100,000 a day. “Some of this increase is attributed to stricter Western sanctions, which have left Russian oil stuck on ships and unable to discharge,” Clarksons Securities analysts including Frode Morkedal wrote. “Previous buyers have purchased replacements from the Middle East and the Atlantic.” The buildup in restricted oil is led by Russian supplies, according to a Bloomberg analysis of the data from the vessel-tracking firms. Russian seaborne shipments have risen in recent weeks, with the country pumping more oil as it unwinds earlier production cuts alongside partners in the OPEC+ group of oil producers. It’s likely that some crude is being diverted to export terminals as a result of Ukrainian attacks on Moscow’s oil infrastructure, particularly refineries. **media[381193]** An unprecedented Western clampdown on buyers of Russian barrels, meanwhile, is stopping some cargoes from discharging, with Indian refineries notably refraining from taking cargoes and signs that China might not be willing to pick up the slack. US sanctions on Russia’s two largest oil producers, Rosneft PJSC and Lukoil PJSC, have made trading their oil even more difficult. Russia’s oil-related tax revenues fell year on year by more than 24% last month, according to Bloomberg calculations based on Finance Ministry data. Russia’s government already expects funds from oil and gas flowing into the budget this year to be the lowest since the pandemic of 2020. Iranian shipments have also surged, hitting the highest level in seven years in October, the same month when the US placed sanctions on a major Chinese terminal for its role in buying barrels from Iran. OilX, a unit of consultant Energy Aspects, says its oil-on-water data covers confirmed shipments, including volumes from countries such as Iran and Venezuela, which often experience delays due to dark fleet activity. As a result, the volume may be revised higher over time. Vortexa says that in general its oil-on-water numbers tend to overcount and be revised lower as ships discharge. But the current situation is far from usual. To be sure, there is plenty of non-sanctioned oil in tankers at sea, too, as global output increases. OilX data show that the single largest contributor to the increase since the end of August has been Saudi Arabia, closely followed by the US and Russia. The kingdom shipped oil overseas at the highest rate in two-and-a-half years last month, as it continues to reclaim market share lost over years of output curbs from the Organisation of the Petroleum Exporting Countries and its allies. At the same time, the amount of American crude at sea has climbed after shipments hit their highest monthly average level since July 2024 in October. Volumes rose after processors in Asia snapped up US cargoes over the summer when Middle Eastern prices jumped relative to other regions, in what is called an arbitrage window. But the barrels on water from nations subject to sanctions represent a larger part of the increase than their collective slice of global crude production of about 17%, according to OilX data. “It’s clear that there is a lot of crude on the water now,” Brian Mandell, executive vice president of marketing and commercial at Phillips 66, said on an earnings call late last month. “We’re kind of waiting to see what those crudes are.”

The Japanese yen’s renewed weakness is testing the patience of policymakers in Tokyo and unnerving investors.The currency fell to 154.79 against the dollar on November 12, its lowest level in around nine months, following recent declines largely prompted by the emergence of Sanae Takaichi as Japan’s new leader. Takaichi’s focus on boosting economic growth has fuelled expectations she will be reluctant to prod the Bank of Japan to raise interest rates — a move that would support the yen.If the central bank waits longer to increase borrowing costs, the government may be forced to wade into currency markets to prop up the yen. Officials have indicated they are keeping a close eye on currency market movements, a typical first step before direct intervention.While Japan is committed to international pacts that stipulate markets should determine exchange rates, the Group of 20 has acknowledged that excessive or disorderly currency moves can threaten economic and financial stability, giving members wiggle room to intervene when volatility spikes. Japanese officials insist it is sharp or disorderly movements — not any specific exchange-rate threshold — that trigger intervention.The question now is how far — or how quickly — the yen needs to fall before Tokyo steps in to protect it.Why is the yen’s weakness cause for concern?While the yen’s slide over the past decade or so has transformed Japan into an affordable travel destination for millions of foreign tourists and boosted the profits of the nation’s biggest exporters, its weakness has become acute.For an economy heavily dependent on imported energy and raw materials, the feeble yen drives up costs, fuelling inflation for households and squeezing margins for domestically focused businesses. The resulting cost-of-living crunch has already helped bring down two prime ministers.There’s another reason why Japan’s government may want to act. President Donald Trump has repeatedly criticised Japan for its weak currency, arguing it gives Japanese manufacturers an unfair trade advantage. That’s a point that came up in trade negotiations between the two nations.What is currency intervention?When a country’s central bank steps into the foreign exchange market with the intention of strengthening or weakening its currency, that’s known as direct intervention.In Japan’s case, the Finance Ministry decides when to act and the BOJ carries out the operation via a limited number of commercial banks. Japan will either buy yen or sell dollars to strengthen the local currency or sell yen and buy dollars to weaken it. The scale of the transactions depends on how much impact the ministry seeks and how quickly the market reacts.Where does the money come from?When Japan intervenes to prop up the yen, the dollars typically come from its foreign reserves in the form of cash or US Treasury holdings. As of the end of October, Japan had $1.15tn in foreign currency. During last year’s interventions, for example, Japan appeared to sell some US Treasuries from its reserves to help finance the action.How effective is currency intervention?Intervention is a clear way for the government to tell speculators it won’t allow its currency to go into free fall or rocket up. However, it only offers a temporary fix unless economic fundamentals driving the trend are also addressed. In addition, foreign reserves are generally there to protect the economy in the event of a major financial shock or unexpected event, not to artificially prop up the currency. A unilateral move is still seen as unlikely to turn the tide of currency momentum, but it can buy time until market dynamics change.How often does Japan intervene in its currency market?Japan has exchanged vast amounts of money over the years — usually to weaken the yen. But recent intervention has been in the opposite direction. The government spent a total of almost $100bn on yen-buying to prop up the currency in 2024. On each of the four occasions the exchange rate was around 160 yen per dollar, setting that level as a rough marker for where action might take place again.To keep traders guessing, officials often don’t immediately confirm an intervention. But the ministry discloses the amount spent on intervention at the end of each month. Generating doubt and fear of losses in the market is part of the ministry’s strategy, making the comments of officials highly potent.What is verbal intervention?To keep traders on guard and slow movements in markets, senior officials can make remarks that hint at the prospect of intervention and bloody noses for market players. Comments by the finance minister or the ministry’s top currency official can quickly scare speculators. Officials typically use a carefully calibrated set of expressions to ratchet up their warnings and show how close they are to moving. References to “taking action” suggest intervention is close.What are the flow-on effects of monetary intervention?When Japan’s authorities intervene in currency markets, the immediate impact is typically sharp. Past episodes show the yen jumping around 2 yen against the dollar within seconds and 4 to 5 yen within hours.These abrupt swings can cause huge losses for traders making speculative bets that the currency will keep moving in the previous direction. Sharp moves can also cause headaches for businesses trying to price goods, make payments and hedge against exchange rate fluctuations.For the government, intervention also carries political and diplomatic risks. It can draw criticism for currency manipulation, especially when intervention is aimed at weakening the yen, a direction that can help exporters with trade. That charge is harder to argue when Tokyo acts to support the yen.What is the US stance on a weak yen?Trump accused Japan’s leaders of guiding the yen lower to gain a competitive advantage in early March and said tariffs were the solution. Japan remains on the US Treasury Department’s “monitoring list” for foreign-exchange practices after posting trade and current account surplus against US, but doesn’t fulfil all the conditions to be characterised as a currency manipulator.Tokyo and Washington issued a joint statement in September, in which the two finance chiefs reaffirmed that intervention “should be reserved for dealing with excess volatility or disorderly movements” and not for competitive advantage. Still, Treasury Secretary Scott Bessent on October 7 said Japan’s government needed to give the central bank space to manage volatility — comments seen as a warning against excessive weakness in the yen.Any intervention would take place after prior notice to the US and if it ended up strengthening the yen, it may be tacitly welcomed by the Trump administration.

Ahli Bank (a Qatari public shareholding company) successfully issued QAR 500 million in debt securities to international and local investors through ABQ Finance limited company (a special-purpose company) owned fully by Ahli bank.In a statement published on the Qatar Stock Exchange (QSE) website, the bank explained that the issuance is part of its USD 2 billion Medium-Term Note (MTN) program.

The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from Nov. 2-6, 2025 reached QAR 762,952,804.Meanwhile the total sales contracts for residential units in the Real Estate Bulletin for the same period is QAR 48,009,657, bringing the total trading value for the week to approximately QAR 810.962 million.The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale has included vacant lands, houses, residential buildings, a residential complex, a commercial building, and residential units.Sales were concentrated in the municipalities of Al Shamal, Al Rayyan, Doha, Al Wakrah, Umm Salal, Al Daayen, and Al Khor and Al Dakhira, and in the areas of Lusail 69, Al Wukair, The Pearl, Al Khuraij, Al Sakhama, and Al Mashaf.The volume of real estate transactions in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice reached more than QAR 426 million during the period from Oct. 26 to Oct. 30.

The world celebrates World Diabetes Day on Nov. 14 each year, with the aim of raising global awareness to combat the disease and its complications, as well as focusing on ways to prevent it and manage it after diagnosis.This year's World Diabetes Day centers around a global call for various sectors to participate in and support the "Diabetes in the Workplace" initiative.The global rise in diabetes is seen as a developmental and social challenge rather than merely an individual health crisis. International reports reveal alarming figures regarding the disease's prevalence and the proportion of undiagnosed individuals, along with the increasing economic costs associated with it.According to the International Diabetes Federation and the World Health Organization (WHO), the number of adults living with diabetes worldwide has surpassed 800 million, more than quadrupling since 1990. Most of them are between the ages of 20 and 79 worldwide. It is estimated that about 43% of people with diabetes are unaware of their condition, putting them at risk of serious complications, even though the disease can often be managed early. Projections also indicate that nearly 81% of people with diabetes live in low- and middle-income countries.Statistics show that in 2024, global diabetes-related health expenditure surpassed USD 1 trillion.According to international data, the geographical distribution of the disease is uneven. Low- and middle-income countries bear a greater burden in terms of the number of people affected and the proportion of untreated cases. The economic cost is also catastrophic, placing a heavy strain on the health systems of these countries. This means that diabetes is not merely a health issue but also a challenge that impacts the economies of many nations.Many specialists indicate that changing lifestyles are among the main causes of diabetes, manifested in factors such as weight gain, lack of physical activity, and changes in dietary habits. The rise in cases alongside these factors suggests that the fight against the disease is not only a medical one but also requires a comprehensive societal culture and broad scientific awareness.Regarding the efforts made annually by the Qatar Diabetes Association to support people with diabetes, Executive Director of Qatar Diabetes Association (QDA) Dr. Abdullah Al Hamaq told Qatar News Agency (QNA) in an exclusive statement that the Association organizes more than 50 awareness activities each year. These include workshops, seminars, early screening campaigns, and camps for children with diabetes or at risk of developing it.He added that the Association provides direct support to over 3,000 patients annually through educational programs, psychological support, and nutritional guidance, in addition to national campaigns, such as "World Diabetes Day" and "Steps Towards Health," to raise community awareness. The Association also collaborates with schools, universities, and various workplaces to promote a culture of prevention and healthy management of the disease, he added.Dr. Al Hamaq said that awareness and knowledge of diabetes and its potential complications have notably improved locally in the State of Qatar, especially among young people, however, challenges remain regarding adherence to treatment and maintaining a healthy lifestyle.On a global scale, he noted that awareness is increasing, but diabetes complications, such as heart and kidney diseases, remain prevalent due to inadequate follow-up or delayed diagnosis.The Executive Director of Qatar Diabetes Association explained that recent scientific advances in diabetes prevention focus on maintaining a healthy lifestyle, engaging in regular physical activity, and following a balanced diet. As for management after diagnosis, he said that rapid developments include continuous glucose monitoring (CGM) devices and new medications, such as SGLT2 and GLP-1 inhibitors, which improve blood sugar control and reduce complications.QDA's Executive Director Dr. Abdullah Al Hamaq recommends that individuals with Type 1 diabetes adhere to their insulin regimen, undergo continuous monitoring, and receive psychological support. He also advises those with Type 2 diabetes to modify their lifestyle, take oral medications or injections, and follow up regularly.He added that the proper approach to living with the disease, across different cases, lies in maintaining a balance between nutrition, physical activity, and treatment; along with essential psychological and social support, particularly for children and adolescents, in addition to ensuring regular medical checkups to adjust treatment as needed, as well as self-education about the disease and its complications.Regarding the complications that affect the organ functions of the affected person, and thus their activity and productivity, Dr. Al Hamq said that complications for the heart are represented by an increased risk of coronary heart disease, for the kidneys by the development of chronic kidney disease, for the eye by retinopathy which may lead to vision loss, for the nerves by peripheral neuropathy which affects movement and sensation, and for the skin and wounds complications are represented by slow wound healing and an increased risk of infection.Executive Director of Qatar Diabetes Association (QDA) Dr. Abdullah Al Hamaq concluded his statements to QNA regarding global scientific and medical efforts aimed at finding a cure for diabetes, saying that so far there is no approved definitive cure that achieves a complete cure for Type 1 or Type 2 diabetes. However, he pointed out that there are promising research in the field of stem cells and pancreatic islet transplantation, and this may contribute to changing the future of treating the disease, noting that this is still in the experimental stage.Among the solutions and recommendations drawn from the reality of the disease's spread at the international level are focusing on early diagnosis and improving primary care systems, especially in developing countries, implementing community awareness campaigns about healthy lifestyles and prevention of Type 2 diabetes, in addition to developing policies that support equitable access to medicines, insulin, and all means of care, as well as doubling international efforts to support research and maintain public health as part of development plans. Among the goals that specialist physicians seek to achieve are raising awareness about the impact of diabetes on society, encouraging early diagnosis, supporting those affected, raising awareness of ways to prevent diabetes or delay its onset through following a healthy diet, with the necessity of exercising physical activity, strengthening the role of the family in health education about the treatment of diabetes and the prevention of its complications, in addition to increasing awareness of the warning signs of its infection, as well as providing medicines, technologies, support, and care to all diabetic patients who need them.According to specialists, the numbers the disease has reached worldwide today were unexpected decades ago, which means that this reality urges everyone to take action. Diabetes does not wait, and its complications and consequences do not delay. The globally available data provide sufficient evidence and an urgent warning of the need to accelerate national and international efforts in this field.

Italy continues to strengthen its position as a global leader in the jewellery and gemstone sector, with exports to the UAE reaching €836.9 million in the first seven months of 2025. Holding a 7.9% market share, Italy ranks as the third-largest jewellery exporter to the Emirates. This 13.72% year-on-year growth reflects rising regional demand for Italian-made creations renowned for artistry, innovation and design excellence.Italy will showcase this success at Jewellery, Gem & Technology in Dubai (JGTD) 2025, taking place from 11–13 November at the Dubai Exhibition Centre, Expo City. The Italian Pavilion, organised by the Italian Trade Agency (ITA) in collaboration with the Italian Ministry of Foreign Affairs and International Cooperation, will feature 30 leading jewellers, innovators and technology specialists. Visitors can explore advanced manufacturing techniques, sustainable innovations as well as contemporary design. A dedicated Italian Jewellery Lounge will also facilitate networking with regional buyers, investors and partners."Italy’s participation in JGTD Dubai emphasises the strength of our bilateral trade relations and our shared commitment to craftsmanship, innovation and distinction. Italian companies bring a heritage of design and manufacturing that complements the UAE’s status as a global hub for luxury and creativity", said Lorenzo Fanara, Ambassador of Italy to the UAE.The UAE remains a key gateway for international jewellery trade, supported by robust consumer demand, tax-free shopping and a thriving tourism sector. According to the World Gold Council, the country ranks fifth globally in gold jewellery demand, reaching nearly 40 tonnes in Q2 2024. This positions Dubai as a strategic launchpad for Italian brands expanding across the Middle East, Africa, and South Asia."The Italian jewellery and gemstone sector is renowned worldwide for its quality, innovation and design leadership. The UAE has consistently served as a prime destination for our jewellery exports, which have long been our leading category in this market. JGTD provides an ideal platform for Italian companies to present their expertise, connect with partners and reinforce Italy’s reputation as a trusted, forward-looking trade partner in one of the world’s most dynamic luxury markets,” said Valerio Soldani, Trade Commissioner, Italian Trade Agency in the UAE.As part of ITA’s broader mission to promote Italian excellence and strengthen international business relations, JGTD has been selected as one of the official strategic events in the UAE under OpportunItaly — the business acceleration programme promoted by ITA - Italian Trade Agency and the Italian Ministry of Foreign Affairs and International Cooperation (www.opportunitaly.gov.it).The initiative connects foreign buyers, distributors and entrepreneurs with Italian companies and know-how through digital business matching and exclusive sector-focused content. Global demand for fine jewellery is expected to exceed USD 340 billion by 2030, driven by emerging markets, investment-oriented buyers, and technological advances in design and production. The Middle East remains a key contributor to global consumption of gold and diamond jewellery.Italy’s jewellery industry, employing more than 30,000 artisans in hubs such as Vicenza, Arezzo and Valenza, continues to lead through digital transformation, sustainable sourcing and traceability systems — maintaining its role as a global benchmark for quality and innovation.JGTD has become a premier platform for the jewellery and gemstone industry, attracting top brands, suppliers and buyers from around the world. For Italy, the exhibition represents an opportunity to strengthen partnerships, highlight innovation, and reaffirm leadership in fine jewellery design. Visitors will discover the latest in Italian design, gemstone processing, and manufacturing technology — a showcase of how Italian craftsmanship continues to shape the future of global luxury.

Major US stock indexes closed mixed on Wednesday.The S&P 500 .SPX gained 4.45 points, or 0.08%, to end at 6,852.03 points, while the Nasdaq Composite .IXIC lost 57.82 points, or 0.25%, to 23,410.48.The Dow Jones Industrial Average .DJI rose 327.72 points, or 0.69%, to 48,259.75.