Business

The Qatar Financial Centre Authority (QFCA) has signed a memorandum of understanding (MoU) with the Investment and Finance Office of the Presidency of Türkiye (IFOTP), the official body responsible for promoting Turkiye’s investment opportunities to the global business community.The agreement aims to promote investment, facilitate market access for businesses, and enhance business collaboration between Qatar and Türkiye.Under the terms of the agreement, the QFC and IFOTP will exchange publicly available economic and investment information, organise and support joint activities such as business forums, seminars, exhibitions, and high-level visits, and promote awareness of the opportunities available across both markets.The collaboration also includes mutual support for business delegations and initiatives designed to improve understanding of each country’s business environment and regulatory landscape.The two organisations will co-operate to promote mutually beneficial investments, encourage joint ventures, mergers and acquisitions, and support both Greenfield and brownfield investment projects. They will also share institutional policies and best practices to create a climate conducive to cross-border investment and enterprise growth.Through this partnership, the QFC will provide guidance and licensing assistance to companies referred by IFOTP that are seeking to explore or expand their presence in Qatar, provided their activities align with the QFC’s legal and regulatory framework.“This partnership underscores the QFC’s ongoing efforts to expand international collaboration and strengthen Qatar’s role as a gateway for global business," said Yousuf Mohamed al-Jaida, chief executive officer, QFCA.Highlighting Türkiye remains a "strategic" partner, he said through this MoU, "we are creating new pathways for trade, investment, and innovation between our two economies."Together with IFOTP, the QFC aims to foster greater private-sector participation and unlock cross-border opportunities that contribute to sustainable economic growth.President of IFOTP Ahmet Burak Dağlıoğlu, said this MoU represented a significant milestone in strengthening the economic partnership between Türkiye and Qatar.Since 2002, Qatari FDI (foreign direct investment) in Türkiye has reached $3.5bn, with total FDI stock standing at $7bn by the end of 2024."Through deeper co-operation with the QFC, we aim to unlock new opportunities for investment and further support the finance sectors of both economies. This agreement embodies our shared vision of positioning Türkiye and Qatar as leading investment hubs that connect regional and global markets,” he said.The MoU underscores a shared vision to promote sustainable economic growth and cross-border collaboration between Qatar and Türkiye, paving the way for stronger trade and investment flows in the years ahead.

HE Minister of Finance Ali bin Ahmed Al Kuwari led the high-level delegation of the State of Qatar that was welcomed by the London Stock Exchange (LSE) to ring the market opening bell, marking the launch of "Qatar Day at the London Stock Exchange Group (LSEG)". This flagship event, held in the British capital, serves as a significant platform showcasing the deepening partnership between the State of Qatar and global investors, as well as the country's achievements in developing a dynamic and sustainable capital market. **media[380342]** On this occasion, HE Ali bin Ahmed Al Kuwari said: "Qatar Day at the London Stock Exchange Group embodies our commitment to deepening our capital markets and strengthening our ties with global investors." The Financial Markets Day in London serves as an important strategic platform for enhancing dialogue between governments and international investors, providing an opportunity to discuss the latest developments in financial markets and future trends in finance and investment

Most Asian markets fell yesterday as a rally fuelled by hopes for an end to the US government shutdown ran out of steam. In Tokyo, the Nikkei 225 closed down 0.1% to 50,842.93 points; Hong Kong — Hang Seng Index ended down 0.1% to 26,615.23 points and Shanghai — Composite closed down 0.4% to 4,002.76 points yesterday. Equities started the week on the front foot after US lawmakers reached a deal to reopen the government after more than 40 days, adding to a revival of demand for tech giants despite growing fears of an AI-fuelled bubble. Senators on Capitol Hill passed the compromise budget measure on Monday after a group of Democrats broke with their party to side with Republicans on a bill to fund departments through January. It is hoped the bill will then pass the Republican-held House of Representatives and head to Donald Trump's desk, with some suggesting the government could reopen Friday. "It appears to us this morning that our long national nightmare is finally coming to an end, and we're grateful for that," House Speaker Mike Johnson told reporters. And the US president told reporters in the Oval Office that "we'll be opening up our country very quickly," adding that "the deal is very good." Investors had grown increasingly concerned about the impact of severe disruptions of food benefits to low-income households, and of air travel heading into the Thanksgiving holiday. It has also meant key official data on a range of things, including inflation and jobs, has not been released, leaving traders to focus on private reports for an idea about the economy. The lack of crucial data has also meant the Federal Reserve has been unable to gauge properly whether or not to cut interest rates at its next meeting in December, keeping investors guessing. Asian markets started Tuesday by extending Monday's gains as well as a rally on Wall Street, but struggled to maintain momentum going into the afternoon. Tokyo, Hong Kong, Sydney, Shanghai, Taipei, Manila, Mumbai, Bangkok and Wellington all fell, while Seoul gave up its initial strong gains to sit slightly higher. Sentiment was also weighed by a report in the Wall Street Journal saying China planned to exclude firms linked to the US military from gaining access to rare earths. The report comes after Trump and Chinese counterpart Xi Jinping had agreed a deal to secure supplies of the minerals critical for the defence, automotive and consumer electronics sectors. Beijing's tightening control over their export this year has snarled supply chains and halted production globally while sweeping measures introduced last month saw the US leader threaten blanket 100% tariffs. "The US had handed off a bright baton: government shutdown resolved, liquidity set to re-enter the bloodstream, and equities roaring on cue. Yet Asia hesitated," wrote Stephen Innes at SPI Asset Management. "It was a reminder that in this cycle, optimism doesn't always travel well across time zones." Michael Brown at Pepperstone said reopening the US government would allow markets "to re-focus on what remains a solid bull case of the underlying economy remaining robust, earnings growth proving resilient, the monetary backdrop continuing to loosen and a calmer tone being taken on trade". But, he warned, "the assumptions underpinning that bull case will now come under the microscope." In corporate news, Japanese titan Sony soared 5.5 % after it hiked its full-year profit forecasts thanks to the latest "Demon Slayer" anime blockbuster. It also cited higher expected sales of its PlayStation games console and a smaller-than-expected impact from US tariffs as reasons for the improved outlook.

The value of banks’ synthetic securitisations has reached $673bn, expanding at a double-digit pace as lenders race to offload risk and free up capital.The figure, the portion that banks retain after partially shifting the peril of loan losses through significant risk transfers, is an 18% increase for the 2024 financial year from the prior period, according to data compiled by Bloomberg. The metric is a proxy of activity in one of financial markets’ hottest corners.The surge in deals helped Banco Santander SA to overtake Barclays Plc as the biggest user of SRTs. The Spanish bank’s exposure to synthetic securitisations neared $76bn during the period, while its London-based peer’s figure of remained little changed.JPMorgan Chase & Co and Standard Chartered Plc also expanded their use of the instrument by more than 10%, the data showed. An exception was UBS Group AG, which shrunk its exposure by 19% in the wake of its rescue of Credit Suisse.While the figures show a decrease in growth from the prior year, when the value of the securitisations rose 23% to about $572bn, it still underscores the rapid pace of SRT expansion. At the same time, regulators are getting concerned about the systemic risks that the increasingly popular tool may pose.SRTs typically allow banks to obtain default protection for 5% to 15% of the loans’ value, enabling lenders to bolster their solvency ratios or free up capital to pursue growth. Since 2016, more than $1tn in assets have been synthetically securitised, according to an October report by the International Monetary Fund.The IMF expressed concern about a potential mismatch between short-term repurchase agreements, a form of leverage often used to acquire SRTs, and the typically longer-dated, less liquid credit-linked notes issued by banks.“A spike in margin calls on these repurchase agreements could lead to spillovers into other, more liquid markets as hedge fund investors sell other assets to raise liquidity,” the IMF said.A recent research paper, co-authored by Glenn Schepens of the European Central Bank and Alex Osberghaus from the University of Zurich, found that banks effectively became less capitalised when they’ve used SRTs and redeployed the freed-up capital.At least one investor says the instruments are not especially attractive at current pricing.Spreads on SRTS are “not particularly interesting” or the trades “are higher up on the risk spectrum and not interesting from a risk perspective,” Raghav Khanna, managing director at Oaktree’s Global Private Debt strategy, told analysts on a call in August.Still, there is no shortage of buyers. The volume of synthetic securitisations issued by big banks surged more than 85% in the European Union in the first half from a year earlier, Pedro Machado, an official at the European Central Bank’s oversight arm, said in September.

The value of banks’ synthetic securitisations has reached $673bn, expanding at a double-digit pace as lenders race to offload risk and free up capital.The figure, the portion that banks retain after partially shifting the peril of loan losses through significant risk transfers, is an 18% increase for the 2024 financial year from the prior period, according to data compiled by Bloomberg. The metric is a proxy of activity in one of financial markets’ hottest corners.The surge in deals helped Banco Santander SA to overtake Barclays Plc as the biggest user of SRTs. The Spanish bank’s exposure to synthetic securitisations neared $76bn during the period, while its London-based peer’s figure of remained little changed.JPMorgan Chase & Co and Standard Chartered Plc also expanded their use of the instrument by more than 10%, the data showed. An exception was UBS Group AG, which shrunk its exposure by 19% in the wake of its rescue of Credit Suisse.While the figures show a decrease in growth from the prior year, when the value of the securitisations rose 23% to about $572bn, it still underscores the rapid pace of SRT expansion. At the same time, regulators are getting concerned about the systemic risks that the increasingly popular tool may pose.SRTs typically allow banks to obtain default protection for 5% to 15% of the loans’ value, enabling lenders to bolster their solvency ratios or free up capital to pursue growth. Since 2016, more than $1tn in assets have been synthetically securitised, according to an October report by the International Monetary Fund.The IMF expressed concern about a potential mismatch between short-term repurchase agreements, a form of leverage often used to acquire SRTs, and the typically longer-dated, less liquid credit-linked notes issued by banks.“A spike in margin calls on these repurchase agreements could lead to spillovers into other, more liquid markets as hedge fund investors sell other assets to raise liquidity,” the IMF said.A recent research paper, co-authored by Glenn Schepens of the European Central Bank and Alex Osberghaus from the University of Zurich, found that banks effectively became less capitalised when they’ve used SRTs and redeployed the freed-up capital.At least one investor says the instruments are not especially attractive at current pricing.Spreads on SRTS are “not particularly interesting” or the trades “are higher up on the risk spectrum and not interesting from a risk perspective,” Raghav Khanna, managing director at Oaktree’s Global Private Debt strategy, told analysts on a call in August.Still, there is no shortage of buyers. The volume of synthetic securitisations issued by big banks surged more than 85% in the European Union in the first half from a year earlier, Pedro Machado, an official at the European Central Bank’s oversight arm, said in September.

Qatar Investment Authority (QIA) and ORIX Corporation (ORIX) have entered into a pact to a commitment-based private equity (PE) fund (OQCI Fund) with total size yen equivalent of $2.5bn. The fund will invest in Japanese companies, primarily targeting business succession, privatisation of listed companies, and carve-outs (the transfer of business divisions or subsidiaries from large corporations), with an enterprise value investment size of at least 30bn yen (about $200mn) per investment. This marks the first time that ORIX has launched a fund that welcomes capital from an international third-party investor for domestic private equity investment in Japan. It is also the first time QIA has invested in a domestic private equity fund focused solely on the Japanese market. Investment decisions for the fund will be made by OQCI GP, which will act as the general partner of the fund. ORIX and QIA will be the only two investors in the fund, committed to contributing 60% and 40% of the capital, respectively. ORIX will provide the GP with introductions to potential investment targets, post-investment monitoring, and advisory support for portfolio companies. "Japan represents a core component of QIA’s long-term private equity strategy. With disciplined valuations, a deep pipeline of governance-driven deals, and growing global investor interest, we see this as an exceptional opportunity to partner with best-in-class Japanese businesses to create value," said Mohammed Saif al-Sowaidi, chief executive officer of QIA. Highlighting that it is the first international partner in ORIX’s inaugural private equity fund in Japan in its 60-year history; he said this partnership will enable both parties to capitalise on market opportunities and support ORIX’s ambition to build a thriving asset management initiative. Makoto Inoue, Representative executive officer, chairman and chief executive officer of ORIX said QIA is a significant and influential sovereign wealth fund, and it is pleased to be able to help it increase its investments in the Japanese economy. "ORIX has built up considerable expertise in private equity investment in Japan. This partnership is the next logical step on the path to improving the corporate value of companies with high-growth potential," he said. Moreover, it will contribute to Japan’s broader industrial development. Increasing the portion of third-party funds in ORIX’s investment portfolio will enhance capital efficiency and help further grow asset management business, according to him. "This partnership is a key strategic move to help realize our long-term growth strategy," he said. QIA and ORIX will together aim to enhance the corporate value of companies with high-growth potential and contribute to the advancement of Japanese industry. "We will also explore opportunities for collaboration across other fields," it said. Following the guidelines published by the Japanese Ministry of Economy, Trade and Industry (METI) and the request for management reforms by the Tokyo Stock Exchange, Japan’s M&A market has been seeing a surge in listed companies going private, corporate reorganizations, and carve-outs. As deal sizes become larger, and against the backdrop of Japan’s stable economy and society, an increasing amount of foreign capital has been flowing into the market. (Ends)

Company executives are sounding remarkably upbeat about the economy this earnings season, even as trade tensions linger and stock valuations look stretched. Mentions of “economic slowdown” and synonyms during sales, guidance and earnings calls tracked by Bloomberg are the lowest since 2007. That’s despite the disruption to official US data caused by the government shutdown and the murkier policy outlook it’s led to. And this is playing out as the S&P 500 heads for a third year of high returns, with stocks as expensive as they were at their post-pandemic peak. Investors’ worst fears of how tariffs would ravage global growth and harm company profits have largely failed to materialise. The third-quarter reporting season has shown how companies have mitigated the impact of levies by increasing prices, reducing costs and streamlining supply chains. Around the world, consumers have proved resilient. “Corporate sentiment continues to improve post-tariff fall,” said Bank of America Corp strategists led by Savita Subramanian. “Weak demand mentions have declined over the past year but remain above average, while the ratio of companies mentioning better/stronger vs worst/weaker has trended up.” The S&P 500 is on course for earnings growth of 14.5% this quarter, compared with the 7.4% expected before the season started, according to a Bloomberg Intelligence earnings tracker. Over 81% of companies have beaten estimates. For the full year, the increase in earnings is estimated to reach 11.4%, followed by 11.9% in 2026 and 13.5% in 2027. Megacap and technology shares have been driving the gains, boosted by a relentless appetite for artificial intelligence related trade. Aside from rising profits, the stock market has been driven higher by valuation expansion this year. The S&P 500’s forward price-to-earnings ratio has surged to 23, equivalent to the post-pandemic peak and within reach of the record hit prior to the dot-com bubble. Angst over elevated valuations was at the core of the recent pullback. Meanwhile, recent news coverage captures some of the optimism reflected in earnings calls. Mentions of an economic slowdown in articles have dropped in the past few months to the lowest level since June 2021. “The tone on outlook has improved, with most firms expecting further margin expansion and capital returns,” said Barclays Plc strategists including Magesh Kumar Chandrasekaran. The lack of official US data caused by the shutdown — now seemingly close to being resolved — has denied the Federal Reserve key reports that inform policy making, with officials giving conflicting comments about the path ahead for interest rates. The Washington deadlock placed a greater focus on private readings of the economy, which have proved mixed. While PMIs tracking activity have been strong, private labor market numbers look shakier. US companies announced the most job cuts for any October in more than two decades, according to figures from outplacement firm Challenger, Gray & Christmas Inc. ADP Research data, on the other hand, signalled stabilisation in private-sector payrolls. Some strategists see a more uneven picture in company earnings commentary, with RBC Capital Markets’ Lori Calvasina noting disparities between industries. Some companies continued to highlight uncertainties arising from trade policy, along with weak consumer demand and affordability challenges, she said. Others have spoken of soft end-markets including in industrial sectors and that they expect their challenges to continue next year, with corporate customers still holding off on capex. “Overall, commentary continues to be best described as mixed, with the best tone coming from tech and health care,” Calvasina said. “On the more positive side, some companies continued to highlight their ability to pass through price, their expectations for a better 2026 backdrop due to a better FX and interest rate/mortgage rate backdrop, strong demand or stabilising markets, and strong equity market conditions and increased lending.” Still, with most reporting now done for this quarter, earnings growth is running strong and positive surprises have become a broader phenomenon. After hovering a little above its long-term historical average of 5.4% for nearly two years, global earnings growth has surged to its highest in over three years to 11.3%, according to Deutsche Bank AG strategists led by Bankim Chadha. Earnings beats rose across regions to the top of their historical ranges this season. The increase in earnings is all the more surprising, given that it has diverged from GDP growth, the Deutsche Bank team said. The strong reporting season has kept analysts bullish in the US, with a Citigroup Inc earnings revisions gauge mostly in upgrade territory since the summer. “Current earnings reports reinforce our core thesis: Profits remain the glue for US equities,” said Societe Generale SA strategist Manish Kabra. He estimates that earnings per share for S&P 500 members will rise to $333 by 2027 from $261 in 2025. He sees the benchmark index at 7,300 points in the first half of 2026. It closed at 6,832 points on Monday. Kabra added that strong revenue beats support the thesis that nominal growth is robust in the US. “The backdrop of Fed rate cuts, combined with front-loaded fiscal benefits in 2026, should keep corporate commentary constructive.”

China produced 271.78 tonnes of gold in the first nine months of 2025, an increase of 1.39% from the same period last year, data from the China Gold Association has shown.From January to September, gold consumption in the Chinese market fell 7.95% year on year to 682.73 tonnes, according to the association.During this period, consumption of gold jewelry stood at 270.04 tonnes, down 32.5% year on year, while that of gold bars and coins rose by 24.55% to 352.12 tonnes. Gold use for industrial and other purposes amounted to 60.58 tonnes, up 2.72%.The association said the performance of different gold product segments varied during this time. Light-weight, high value-added jewelry continued to draw strong consumer interest. Purchases of gold bars remained robust, with rising geopolitical tensions and economic uncertainty reinforcing gold's appeal as a safe-haven asset.At the same time, the fast expansion of industries such as electronics and new energy helped lift industrial demand for gold, it added.It also noted that gold-backed exchange-traded funds in the Chinese market saw strong growth momentum during this period.

Qatar took part in the two-day Egypt-GCC Trade and Investment Forum, which concluded Monday in Cairo. The event, themed ‘A Roadmap to Strengthening Egyptian-Gulf Economic Cooperation’, brought together ministers, senior officials and business leaders from the Gulf Co-operation Council) countries and Egypt.Qatar was represented by Mohammed bin Hassan al-Malki, Undersecretary of the Ministry of Commerce and Industry, accompanied by a delegation from the public and private sectors.The forum aimed to strengthen economic relations between Egypt and the GCC states by providing a platform to review the investment landscape and identify new opportunities for co-operation across various economic, commercial, and investment sectors.Participants also discussed recent developments and legislative frameworks that facilitate strategic partnerships between public and private sector investors, as well as challenges impacting investment flows between the two sides.The Egypt-GCC Trade and Investment Forum serves as a strategic platform for deepening economic partnerships and shaping the future of investment co-operation, in line with the development visions of Egypt and the GCC states.The forum concluded with several outcomes and recommendations, including the launch of partnership initiatives, the signing of memoranda of understanding between private sector entities, and proposals for new joint projects between Egypt and the GCC countries.

His Excellency the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, held meetings with senior Japanese energy industry leaders on co-operation in the energy sector in Tokyo Monday. Al-Kaabi met with senior executives of major energy and electric power companies including Yukio Kani, Chairman and Global CEO of JERA; Kenichi Hori, President and CEO of Mitsui; Akiya Kotani, Executive Vice-President of Kansai Electric; Shunichi Kito, Representative Director, and President and CEO of Idemitsu; Shigeru Yamada, Representative Director and Group CEO of Cosmo Energy Holdings; and Fujita Masahiro, Representative Director and Chairman of JAPEX. Discussions during the meetings focused on existing and future co-operation and further strengthening bilateral relations in the energy sector.

QatarEnergy has signed a long-term urea supply agreement with Japan’s Mitsui & Co Ltd.The 20-year agreement stipulates a supply of up to 0.5mn tonnes per year of urea to Mitsui starting in January 2026.Commenting on this occasion, HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, said: “We are pleased to sign this long-term supply agreement with one of our strategic partners and to strengthen our decades-long relationship with Mitsui.”**media[379897]**Minister al-Kaabi added: “With the growing demand for urea across the world, QatarEnergy looks forward to increasing its global footprint in urea production, thereby enhancing global food production and security. Building on our September 2024 announcement to develop a new, world-scale urea production complex, we will more than double Qatar’s urea production, positioning Qatar as the world’s largest exporter.”This agreement reflects QatarEnergy’s strategic intent to establish long-term partnerships with prominent and trusted leaders in the fertiliser industry, while reaffirming its dedication to enhancing global food production and security.

Qatar took part in the two-day Egypt-GCC (Gulf Cooperation Council) Trade and Investment Forum, which concluded yesterday in Cairo.The event, themed ‘A Roadmap to Strengthening Egyptian-Gulf Economic Cooperation’, brought together ministers, senior officials and business leaders from the GCC countries and Egypt.Qatar was represented by Mohammed bin Hassan al-Malki, Undersecretary of the Ministry of Commerce and Industry, accompanied by a delegation from the public and private sectors.The forum aimed to strengthen economic relations between Egypt and the GCC states by providing a platform to review the investment landscape and identify new opportunities for cooperation across various economic, commercial, and investment sectors.Participants also discussed recent developments and legislative frameworks that facilitate strategic partnerships between public and private sector investors, as well as challenges impacting investment flows between the two sides.The Egypt-GCC Trade and Investment Forum serves as a strategic platform for deepening economic partnerships and shaping the future of investment cooperation, in line with the development visions of Egypt and the GCC states.The forum concluded with several outcomes and recommendations, including the launch of partnership initiatives, the signing of memoranda of understanding between private sector entities, and proposals for new joint projects between Egypt and the GCC countries.

Foreign and Gulf funds lift sentiments in QSE as index rose 42 points; M-cap adds QR2.64bnThe Qatar Stock Exchange (QSE) today gained more than 42 points on the back of strong buying interests from the foreign and Gulf institutions.The telecom, transport and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.38% to 11,039.98 points, although it touched an intraday high of 11,113 points.The Gulf individuals were seen net buyers, albeit at lower levels, in the main market, whose year-to-date gains improved to 4.91%.About 59% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR2.64bn or 0.4% to QR661.87bn, mainly on small and midcap segments.The local retail investors’ weakened net profit booking had its influence on the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.08mn trade across 17 deals.However, the domestic funds were seen increasingly bearish in the main bourse, whose trade turnover and volumes were on the rise.The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills.The Arab retail investors were seen bearish in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.38%, the All Share Index by 0.34% and the All Islamic Index by 0.42% in the main market.The telecom sector index shot up 1.35%, transport (0.59%), industrials (0.57%), insurance (0.29%), banks and financial services (0.18%) and real estate (0.13%); while consumer goods and services were down 0.02%.As many as 31 stocks gained, while 17 declined and five were unchanged.Major movers in the main market include QLM, Qamco, Doha Bank, Beema, Qatar Cinema and Film Distributions, Industries Qatar, Doha Insurance, United Development Company, Ezdan, Ooredoo, Vodafone Qatar, Milaha and Gulf Warehousing.Nevertheless, Baladna, Commercial Bank, Al Mahhar Holding, Qatar Industrial Manufacturing and Qatar Oman Investment were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.The foreign institutions’ net buying increased significantly to QR15.62mn compared to QR8.98mn the previous day.The Gulf institutions’ net buying strengthened considerably to QR12.28mn against QR4.7mn on November 9.The Gulf retail investors turned net buyers to the tune of QR0.55mn compared with net sellers of QR2.68mn on Sunday.The local individual investors’ net selling declined substantially to QR6.45mn against QR14.78mn the previous day.However, the domestic institutions’ net selling strengthened drastically to QR15.02mn compared to QR0.82mn on November 9.The Arab retail investors were net sellers to the extent of QR5.88mn against net buyers of QR3.84mn on Sunday.The foreign individuals turned net profit takers to the tune of QR1.09mn compared with net buyers of QR0.74mn the previous day.The Arab institutions had no major net exposure.The main market saw 6% jump in trade volumes to 84.49mn shares, 46% in value to QR306.8mn and 21% in deals to 17,780.In the venture market, a total of 0.03mn equities valued at QR0.06mn changed hands across seven transactions.

The seventh edition of the ‘Gulf Businesswomen Forum’ is slated to kick off on Wednesday, November 12, at the Mandarin Oriental – Msheireb, Doha, under the patronage and in the presence of Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani. The two-day event is organised by the Federation of Gulf Cooperation Council Chambers (FGCCC), in cooperation with Qatar Chamber, and supported by the GCC General Secretariat, with QNB as the strategic partner. The opening ceremony will be attended by FGCCC chairman Sheikh Faisal bin Abdulla al-Rawas, along with a host of prominent Gulf economic figures, businesswomen, and entrepreneurs. FGCCC secretary general Saleh bin Hamad al-Sharqi said the forum’s first day will feature the launch of the ‘Gulf Businesswomen Platform’, one of the federation's key initiatives. He noted that it aims to connect businesswomen across the GCC countries within a unified interactive system that facilitates the exchange of experiences, expands the base of Gulf women’s investments, and creates new partnership opportunities based on the concepts of the green economy and sustainability. Al-Sharqi noted that the platform represents a strategic step towards empowering Gulf women in the private sector by providing an integrated digital environment that enhances communication and cooperation among business owners, enabling them to expand their presence on the regional and global investment map. The second day’s agenda will feature a series of panel sessions addressing vital topics, including the session ‘Gulf Businesswomen and Sustainable Investment’, which will review the current state of Gulf women’s investments and prospects for their development. Another session, ‘Gulf Women Entrepreneurs: From Tradition to Innovation’, will focus on empowering women in the digital economy and promoting innovative business models. The programme will conclude with a session titled ‘Arbitration in Enhancing the Gulf Women’s Business Environment’, which will highlight the role of arbitration in protecting the investments of Gulf businesswomen. Al-Sharqi pointed out that the variety of topics presented reflects a positive shift in the mindset of Gulf women entrepreneurs, marking their transition from traditional models to more innovative and sustainable projects. He stressed that the forum represents an extension of the federation’s efforts to build an integrated Gulf business environment that fosters leadership, innovation, and economic integration among businesswomen across GCC countries. The forum is expected to issue a set of recommendations aimed at strengthening Gulf cooperation in empowering women entrepreneurs and enhancing their contribution to sustainable economic development across GCC countries. Qatar Chamber board member Ibtihaj al-Ahmadani, who is also the chairperson of the Qatari Businesswomen Forum, said the forum looks forward to strengthening cooperation among female business owners in the GCC countries and to fostering greater collaboration, partnerships, and joint initiatives that contribute to women’s economic empowerment and support the overall development process in the Gulf region. She noted that the forum will highlight success stories of Gulf businesswomen who have managed to overcome challenges and establish their own enterprises through perseverance, hard work, and determination, providing participants with the opportunity to learn from and be inspired by these successful experiences. Ends

Lukoil has declared force majeure at Iraq's giant West Qurna-2 oilfield, four sources with knowledge of the matter said on Monday, after Western sanctions on the Russian oil major hampered its operations.Lukoil did not immediately respond to a Reuters request for comment.The US and Britain imposed sanctions on Rosneft and Lukoil, Russia's two largest oil companies, last month.Iraq has since halted all cash and crude payments to the company, three of the sources said.Lukoil sent a letter to Iraq's oil ministry last Tuesday saying there are force majeure conditions preventing it from continuing normal operations at the West Qurna-2 field, the four sources said.If the reasons behind the force majeure are not resolved within six months, Lukoil will shut production and exit the project entirely, a senior Iraqi oil industry official said.Reuters reported last week that Iraq's state oil firm SOMO cancelled loadings of three crude oil cargoes from Lukoil's equity production at the oilfield over the sanctions.West Qurna-2, one of the world's largest oilfields, is Lukoil's most prized foreign asset. It is located 65 kilometres (40 miles) northwest of the southern port of Basra.The field accounts for around 9% of Iraqi total oil production. It is currently producing around 480,000 barrels per day, two oilfield officials said.Crude oil volumes allocated for in-kind payments to Lukoil for November — about 4mn barrels — have been cancelled, said one of the sources, an oil ministry official.Payments to Lukoil generated by its Iraqi operations remain frozen under US sanctions until there is a contractual adjustment that secures a mechanism for developing the oilfield and a way to make payments to non-sanctioned entities, the oil ministry official said, adding that Iraq cannot deal with companies under US sanctions.SOMO will not be able to continue its crude oil supply contract with Lukoil until the issues behind these sanctions are resolved, the source added.Lukoil's force majeure declaration is approved under the terms of its contract and the company is seeking legal protection against penalties for failing to meet contractual obligations with the oil ministry, another Iraqi official said.Lukoil in an email sent on Friday terminated the services of all non-Russian foreign staff, another source said, a manager at West Qurna-2. This means only Russian and Iraqi Lukoil staff remain.On Monday, Bulgaria's Prime Minister Rosen Zhelyazkov said authorities are conducting inspections and implementing security measures at Lukoil's Burgas oil refinery as the government looks to sustain its operation while preparing to seize control of the site.Last week, Bulgaria adopted legal changes allowing it to take over the refinery and sell it to a new owner.

Chinese steelmakers are still flooding the world with record exports, as a rising tide of protectionism is offset by resilient demand in Southeast Asia and growth in new markets in the Middle East. Saudi Arabia has emerged as the hot destination for 2025. Shipments of the metal to the kingdom are up 41% in the first nine months from a year earlier, the biggest jump to any major market, according to Bloomberg calculations based on Chinese customs data. That’s helped Chinese steel mills defy expectations that they would struggle in 2025 due to rising tariffs and antidumping probes. Overall exports in the first 10 months of the year are at 97.76mn tons, surpassing the 92.05mn tons in the same period in 2024, and putting them on track for another all-time annual high. Vietnam and South Korea, which have imposed curbs on imports of the metal from their giant neighbour, saw the biggest drops in volumes, although remained China’s top two markets. There was strong growth in the Philippines, Indonesia and Thailand, while the Middle East, and to a lesser extent Africa, emerged as new drivers of demand. Chinese overseas investment, partially under its Belt and Road initiative, has laid the groundwork for much of this consumption. Beijing’s spending in Saudi Arabia and the United Arab Emirates has surged to a combined $86bn over the last decade, and much of that money has flowed into steel-intensive sectors like energy and transport, according to Jing Zhang, a senior research analyst at Wood Mackenzie Ltd. “Chinese steel export routes are shifting toward the Middle East and Africa,” she said. “The product mix reflects this shift,” with exports of steel tubes and long products that are more commonly used in infrastructure already surpassing last year’s totals, a trend that’s likely to continue, Zhang said. Exports of long steel products to Saudi Arabia almost doubled from a year earlier, while shipments of semi-finished steel grew more than sixfold. Whether the increased demand can continue is questionable, however. The kingdom is backing away from its $500bn plan for a futuristic city called Neom on the Red Sea, and focusing more on areas like artificial intelligence and high-tech manufacturing. The country data, which lags behind the overall export figures, show a rerouting of steel exports to markets with fewer restrictions, according to Bloomberg Intelligence. Nations that had or are planning tariffs on Chinese steel accounted for about 45% of exports in the first nine months of this year, down from 54% in the same period 2024, BI said in a note. For now, China’s steel export strategy is paying off. But with global trade tensions simmering and domestic demand still weak, the sustainability of the boom in shipments may depend on how long the Middle East remains a willing buyer, and if Southeast Asia can maintain robust economic growth rates.

QIIB has announced the 10 lucky winners of the monthly prizes for its ‘Joud’ savings account, a unique product that offers customers opportunities to win a variety of cash prizes throughout the year, including monthly, quarterly, and annual draws, with a grand prize of QR1mn. The October prize draw took place at the QIIB headquarters, in the presence of senior bank officials and a representative from the Ministry of Commerce and Industry. The winners of the QR10,000 prizes for the October draw are: Turky Yousuf al-Subaey, Mohammed Essa al-Binali, Fatma Haji Abdulmalik, Abdulaziz Mohammed al-Kubaisi, Abdulwahed Salah Shaker, Ahmad Mohammed al-Qahtani, Sairah Regeh al-Bishi, Asma Abdulla al-Bader, Fatma Ali al-Binali and Ibrahim Mahmoud al-Mahmoud. It is important to emphasise that the ‘Joud’ savings account stands out as a competitive product, offering a wide range of benefits to QIIB customers. Among the most attractive features is the chance to win significant cash prizes. In addition to these opportunities, account holders benefit from quarterly dividends, as well as the flexibility to make deposits and withdrawals based on their needs. The total number of prizes for the ‘Joud’ savings account from QIIB is 141 throughout the year. This includes the highly anticipated annual grand prize of QR1mn, 20 quarterly prizes (five per quarter) each valued at QR50,000, and 120 monthly prizes (10 per month) each worth QR10,000. Every QIIB customer with a ‘Joud’ savings account is eligible to participate in these draws. For every balance of QR10,000 maintained, customers receive an additional entry into the prize draws conducted throughout the year. ends

Man Group Plc, the world’s largest publicly traded hedge-fund manager, is seeing growth in client flows as a number of institutional investors in Europe reassign mandates based on sustainability criteria. UK-based Man Group’s sustainable-investment offering tends to be “on the more complicated product solutions part of the spectrum and I think for that reason, frankly, we undergrew the market historically,” Jason Mitchell, the hedge fund manager’s head of responsible investment research, said in an interview. But “that now has changed for us.” The comments come after Man Group, which oversees well over $200bn in assets, won a $13.2bn mandate from PFZW in September. The allocation was part of a broader adjustment by the Dutch pension fund, which reassigned a total of €54bn ($62bn) in external listed-equity management contracts. PFZW cited sustainability as a key factor, with BlackRock Inc. and hedge fund AQR Capital Management among firms losing mandates, Bloomberg has previously reported. “It feels like a great time to be at Man doing responsible investing,” Mitchell said. Sustainable investing is showing signs of emerging from a couple of rough years, with clean-tech stocks in particular enjoying a rally. But the strategy remains divisive as financial professionals face a fragmented political backdrop. In the European Union, climate and diversity goals are enshrined in law and major pension investors have shown they want their portfolios to reflect that reality. At the same time, regulations are being wound back amid concerns they’re anti-competitive. In the US, banks and asset managers need to navigate ongoing political attacks on investment strategies that take climate or diversity into account. In Norway, meanwhile, the parliament just voted to suspend work by the ethics council advising the country’s $2.1tn wealth fund. As the politics of environmental, social and governance-focused investing have become increasingly fraught, some money managers have allocated fewer resources to monitoring risks. Firms that held on to their responsible investment experts, meanwhile, are now reaping the benefits, according to Mitchell. While some managers have been “defecting or downsizing teams, we’ve been pretty consistent about investing in data and our quant capabilities and our research,” he said. “A lot of that is now starting to pay off.” Man Group’s not alone in its assessment. Rob Genieser, managing partner of ETF Partners, says the asset manager is now planning a fifth fund focused on environmental technologies in 2026. He also says the sharp divide in policies on either side of the Atlantic suggests to him that “this is Europe’s moment.” Sophie Flak, managing partner for sustainability and impact at Eurazeo SE, a Paris-based asset manager, says she’s hearing clients demand an investment horizon that’s longer than the political cycle. In private discussions, clients will say that “the Trump administration is here for four years, and the duration of our investment is seven to 10 years,” she said. So clients say, “we need to adjust our narrative,” Flak said. “And the ones who are exposed to public funding or managing public funding are the ones who need most to adjust their narrative.” But investments must reflect reality, and ESG strategies take into account both “huge risk” as well as “huge opportunities,” she said. Investors staying the course now find themselves able to outperform the wider market, in large part as renewables ride a wave of demand fuelled by the data centres powering artificial intelligence. The S&P’s main gauge tracking clean energy is up more than 50% this year, compared with about 16% for the MSCI World Index, roughly 20% for the Nasdaq 100 Index, and about 14% for the S&P 500 Index. At Man Group, which says responsible investment-integrated assets accounted for more than $60 billion at the end of last year, the expectation is that the green rally will last. It’s been “fairly fundamentally driven,” said Albert Chu, a portfolio manager focused on natural resources at the hedge fund. He says investors are realising that “whether it’s battery or solar or distributed grid, that these are becoming more real businesses.” But he also emphasises the importance of remaining picky when choosing green stocks, likening this moment to the dot-com bubble of 2000. There was a market crash, but companies with solid business models survived and subsequently thrived, he notes. “If you look at it from long enough time-frames, every cycle repeats itself,” Chu said. “There will be winners and losers.”

Tax rises loom. Borrowing costs remain stubbornly high. And inflation is still way above target. But for investors in UK companies there’s at least one bright spot: Sterling junk loans. Typically an unloved, illiquid corner of corporate debt markets, leveraged loans denominated in the UK currency are having their moment in the sun — £21.2bn ($27.9bn) of issuance so far this year, according to data compiled by Bloomberg, an annual record with two months still to go. Among the five £1bn-plus deals inked this year were an amend and extend for forecourt operator Motor Fuel Group, a repricing for veterinary service provider IVC Evidensia and a private credit loan for Blackstone’s marketing firm Clarion Events. Compressed yields elsewhere and cheap UK assets have placed Britain’s downbeat economy in a sweet spot for leveraged finance, spurring a wave of buyout activity that’s fuelling issuance of sterling-denominated debt. The euro and dollar syndicated loan markets are running so hot at the moment that private credit firms are finding it hard to compete on pricing. Sterling gifts them the yields they need to make lending profitable. “We are seeing a very real demand for both UK assets and sterling issuance from the buyside,” Bjorn Anderson, a managing director on the leveraged finance team at Barclays Plc, said. “Banks and private credit players have appetite to underwrite deals.” Apollo Global Management, Ares Capital Corp, Blackstone and KKR & Co are among the firms deploying private capital into sterling leveraged loans, according to people familiar with the matter. Some insurance companies like Legal & General Group also invest in the asset class, they added, speaking on condition of anonymity. Some of the biggest private equity deals this year involved UK assets, including KKR’s £4.2bn buyout of Spectris Plc, the British manufacturer of precision testing equipment and software, as well as Advent International’s $4.8bn acquisition of most of the home-care business of UK consumer goods company Reckitt Benckiser Group Plc. Sycamore Partners’ buyout of iconic UK pharmacy chain Boots was also part of a larger takeover of Walgreens Boots Alliance Inc. Investors piled into the debt, with Boots’ sterling loans selling at a yield of 475 basis points, compared with 350 on its dollar and euro loans. That appetite for UK-linked corporate credit has extended well beyond retail. English football — the world’s richest and most-watched league — has attracted a new influx of foreign owners, many of whom have tapped private credit markets to fund their takeovers. Sponsor-led activity picked up in the UK after the 2016 Brexit vote, which sent sterling and stock valuations lower and made British companies more attractive to US-based buyout firms. “The fiscal and economic challenges that the UK faces as well as the illiquidity premium are contributing to the broader yield pick-up in sterling credit,” Felicity Juckes of TwentyFour Asset Management said. “This means there are opportunities but you have to look for companies that are resilient to those challenges.” While the UK has some fiscal and economic challenges, take-private rules are relatively straightforward. US sponsors remain more at ease operating there than in continental Europe, helped by a common language, familiar legal systems, and smoother restructuring processes. To be sure, sterling issuance remains a fraction of euro- and dollar-denominated supply. Riskier corporate borrowers continue to favour those deeper, more liquid capital pools, where demand from collateralised loan obligations helps keep pricing competitive. CLOs, which repackage leveraged loans into bonds of varying risk and reward, are the biggest buyers in these markets. And of the hundreds of these investment vehicles issued over the past two decades, less than a handful have had any sterling component. In June, Ares issued the first all-sterling CLO since 2018, backed by a pool of direct lending loans. Barings’ middle-market, multi-currency CLO, which featured a sterling tranche, came in October — marking the first of its kind in ten years. With CLO creation running at fever pitch, the leveraged loan market has been pumping out deals. At various points this year, banks have even demanded a premium from investors seeking to buy loans — a complete inversion of the standard practice of offering a discount to face value to ease a sale. That ferocious demand has driven down the yields on these loans, with pricing on euro and dollar tranches averaging around 380 and 302 basis points respectively, according to data compiled by Bloomberg, as a dip in interest rates makes risk more palatable. Still, CLOs are not the only game in town. Betting firm Intralot SA, for example, raised £400mn from private credit firms in July as part of a €1.56bn, three-track financing package, to buy Bally’s Corp’s online casino business. The deal included UK assets, making sterling funding a natural fit. “You don’t have the CLO support for sterling buyout financing, but you can get large deals done with a mixture of bank and private credit facilities,” Barclays’ Anderson said. With fewer buyers for sterling loans, the asset class benefits from an illiquidity premium of at least 100 basis points over its euro and dollar counterparts. Average sterling term loan Bs are pricing at 500 basis points so far in Q4, data compiled by Bloomberg shows. While the appeal for investors is obvious, the attraction for borrowers is more nuanced. Many firms with UK links like to match the currencies of their liabilities with their cost-base or their revenues. Doing so also negates the need for potentially expensive FX swaps and the difficulties of exiting those swaps in the event of a sale. The currency’s appeal suggests that some of the gloom about the UK may be overdone. Indeed, UK government bonds, maligned for much of the year, have also been staging a comeback. Gilts posted their best performance in almost two years in October, and 10-year yields are close to their lowest in 2025.

The Oman Central Bank (CBO) has announced that the total value of government treasury bills allocated for this week amounted to OMR 11.3 million.The bank explained in a statement today that the allocation included OMR 0.3 million with maturity period of 28 days, with an average acceptable price of OMR 99.760, which was also the lowest accepted price per 100 Omani riyals. The average discount rate was 3.12857 percent, and the average return was 3.13610 percent.It also included OMR 11 million in 91-day Treasury bills, with an average accepted price of OMR 99.059, and a minimum acceptable price of OMR 99.055. The average discount rate is 3.77398 percent, and the average yield was 3.80983 percent.The statement indicated that the interest rate on repurchase operations with the Central Bank of Oman (CBO) on these bills is 4.50 percent, while the discount rate on the CBO Treasury Bill Facility is 5 percent.Treasury bills are a short-term, secured financial instrument issued by the Ministry of Finance to provide investment opportunities for licensed commercial banks. The CBO acts as the issue manager for these bills.