Business

The Qatar Stock Exchange on Wednesday gained more than 47 points, on the back of buying interests, especially at the telecom and banking counters.The foreign funds were seen net buyers as the 20-stock Qatar Index rose 0.47% to 10,053.15 points, recovering from an intraday low of 10,002 points.The local retail investors’ weakened net selling had its influence on the main market, whose year-to-date losses truncated to 7.18%.About 59% of the traded constituents extended gains in the main bourse, whose capitalisation added QR2.67bn or 0.46% to QR580.01bn on the back of midcap segments.The Gulf institutions’ lower net profit booking had its say in the main market, which saw 0.06mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.14mn trade across 11 deals.The domestic institutions continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen gaining on par with the main barometer in the main bourse, whose trade turnover and volumes were on the decrease.The Total Return Index gained 0.47%, the All Share Index by 0.48% and the All Islamic Index by 0.47% in the main market.The telecom sector index shot up 1.1%, banks and financial services (0.67%), industrials (0.45%), consumer goods and services (0.27%), insurance (0.13%) and real estate (0.07%); while transport declined 0.3%.Major gainers in the main bourse included Zad Holding, Inma Holding, Mannai Corporation, Beema, Qatar National Cement, Qatar Islamic Bank, QIIB, Widam Food and Ooredoo.In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Ahlibank Qatar, Milaha, Qatar Oman Investment, Qatar Electricity and Water and Medicare Group were among the losers in the main market. In the junior bourse, Techno Q saw its shares depreciate in value.The foreign institutions turned net buyers to the tune of QR1.22mn compared with net sellers of QR16.78mn on July 2.The Qatari individual investors’ net selling decreased substantially to QR7.36mn against QR27.52mn the previous day.The Gulf institutions’ net selling weakened noticeably to QR6.51mn compared to QR10.83mn on Tuesday.The Gulf individual investors’ net profit booking eased marginally to QR0.43mn against QR0.45mn on July 2.However, the Arab individuals were net sellers to the extent of QR5.25mn compared with net buyers of QR1.56mn the previous day.The foreign retail investors turned net seller to the tune of QR0.25mn against net buyers of QR0.71mn on Tuesday.The domestic institutions’ net buying shrank significantly to QR18.57mn compared to QR53.33mn on July 2.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.01mn the previous day.Trade volumes in the main market declined 15% to 105.3mn shares, value by 12% to QR350.78mn and transactions by 8% to 14,669.The venture market saw a 97% shrinkage in trade volume to 0.29mn equities, 97% in value to QR0.53mn and 57% in deals to 34.

Qatar Airways Cargo lifted more freight in 2023-24 as the national airline’s freight subsidiary celebrates 20 years of operations in 2024.With a tonnage of 1,569,512,700kg in chargeable weight, Qatar Airways Cargo increased market share to 7.1% in the fiscal 2023-24, national airline said in its latest annual report.As one of the carrier’s primary areas of business development focus, digitalisation and transformation has been the driving force behind Cargo’s key enhancement for the 2023/24 fiscal year – the introduction of real-time pricing to its online booking platform – ‘Digital Lounge’.The Digital Lounge enables customers to book cargo immediately at the “best price” available in the industry to date, with the portal taking more than 200,000 online bookings since its inception, contributing towards an increase in cargo’s market share to 7.1% during the 2023/24 financial year, up by 0.04% compared to previous financial year.As of March 31, Qatar Airways Cargo had a dedicated fleet of 29 aircraft. The subsidiary has a firm order for 34 Boeing 777-8 (and options for 16 more), to augment its streamlined fleet of Boeing 777 freighters.The report noted that Qatar Airways Cargo has maintained its position as the world’s leading air freight carrier in 2023-24, bringing great enhancements to its services and sharply accelerating its digital transformation by retiring its last Boeing 747 aircraft and transitioning to an all Boeing 777F fleet.The cargo carrier currently operates to more than 170 belly-hold and over 70 freighter destinations, utilising more than 200 passenger aircraft and its 28 Boeing 777 freighters.Qatar Airways Cargo continued to launch new freighter services, including Algiers, Bogota, Dallas Fort Worth, Dammam, Miami, Sharjah, and Warsaw during 2023/24.In the Middle East, Qatar Airways Cargo revamped its network to introduce new and resumed destinations, as well as adding more frequencies to Dubai and Riyadh and opening Sharjah.In Europe, the cargo carrier improved its footprint in Amsterdam and Frankfurt by adding a further weekly and eight weekly frequencies, respectively.In Asia, Qatar Airways Cargo expanded its presence to better serve e-commerce customers, adding services to Macau and charter operations to China.Additionally, passenger belly cargo flights were added to several destinations, including Chengdu and Chongqing (China) Tokyo Haneda and Osaka (Japan), Lyon, Nice, and Toulouse (France), Marrakech (Morocco), Penang (Malaysia) and Phnom Penh (Cambodia).

Global air freight continues to soar great heights lifted by trade growth, booming e-commerce and capacity constraints on maritime shipping.Air cargo markets around the world maintained double-digit year-on-year growth so far this year, latest data from International Air Transport Association (IATA) reveal.Total demand, measured in cargo tonne-kilometres (CTKs), rose by 14.7% compared to May 2023 levels (15.5% for international operations).This is the sixth consecutive month of double-digit year-on-year growth, IATA noted.Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 6.7% compared to May 2023 (10.2% for international operations).Air cargo demand moved sharply upwards in May across all regions, IATA noted. The sector benefitted from trade growth, booming e-commerce and capacity constraints on maritime shipping.Middle Eastern carriers saw 15.3% year-on-year demand growth for air cargo in May. The Middle East–Europe market performed particularly well with 33.8% annual growth, ahead of Middle East-Asia which grew by 18.6% year-on-year. May capacity increased 2.7% year-on-year.Asia-Pacific airlines saw 17.8% year-on-year demand growth for air cargo in May. Demand on the Africa-Asia trade lane grew by 40.6% year-on-year, while the Europe-Asia, within Asia and Middle East-Asia trade lanes rose by 20.4%, 19.2% and 18.6% respectively. Capacity increased by 8.4% year-on-year.Trade growth is clearly mirrored on the latest figures vis-a-vis industrial production, a measure of the output generated by industrial sectors such as mining, manufacturing, and utilities, recorded a small 0.5% rise over the previous month.Compared to 2023, the indicator pointed at expansion with an annual growth rate of 2.7%, thus marking the continuation of the moderate upward trend seen over the past years, which is also in line with pre-pandemic trends (2012-2019).Global cross-border merchandise trade also displayed expansions both month-on-month and year-on-year in April, with readings of 1.5% and 1.8%, respectively.In particular, April delivered the second month of positive annual growth in 2024 after February. This is an encouraging signal in a strained business environment that continues to be impacted by inflation, impaired supply chains, geopolitical tensions, and rising cross-border trade restrictions.The Purchasing Managers’ Index (PMI) gauges economic trends in manufacturing and services. For example, a PMI above 50 suggests that more purchasing managers expect their business to grow compared to the previous month, while a figure below 50 indicates fewer managers with that outlook.**media[165545]**Specifically, the manufacturing output and new export order PMIs are two leading indicators of global air cargo demand.The new export orders PMI, an indicator that can be understood as a measure of the perceived well-being of international trade, signalled expansion in May with a reading of 50.4 points (down from 50.5 in April).This, IATA noted is the second optimistic reading after the global indicator moved past the critical 50-point benchmark for the first time in over two years in April.It represents an encouraging signal that is aligned with the upward evolution of global merchandise trade discussed earlier (for April). As for the regional perspective, China and the US continued to experience optimistic expectations for new export orders last month, as they have for most of 2024.On the other hand, readings in Europe and Japan maintained their signals of contraction, although Europe exhibited the smallest contraction since early 2022.IATA Director General Willie Walsh noted: “Air cargo demand moved sharply upwards in May across all regions. The sector benefitted from trade growth, booming e-commerce and capacity constraints on maritime shipping. The outlook remains largely positive with purchasing managers showing expectations for future growth.“Some dampening, however, could come as the US imposes stricter conditions on e-commerce deliveries from China. Increased costs and transit times for shipments under $800 may deter US consumers and pose significant challenges for growth on the Asia-North America trade lane—the world’s biggest.”Pratap John is Business Editor at Gulf Times. Twitter handle: @PratapJohn

American Airlines on Wednesday announced that it has entered into a conditional purchase agreement with clean aviation innovator ZeroAvia for 100 hydrogen-electric engines intended to power regional jet aircraft with zero inflight emissions save for water vapour.In addition, American has increased its investment in ZeroAvia. American made its first investment in ZeroAvia in 2022 and has also now participated in the company’s Series C financing round. The engine agreement follows the MoU the companies announced in 2022.ZeroAvia is developing hydrogen-electric (fuel cell-powered) engines for commercial aircraft, which offer the potential for close to zero inflight emissions.The company is flight testing a prototype for a 20-seat plane and designing an engine for larger aircraft such as the Bombardier CRJ700, which American operates on certain regional routes.“Advancing the transition of commercial aviation to a low-carbon future requires investments in promising technologies, including alternate forms of propulsion,” said American’s CEO Robert Isom. “This announcement will help accelerate the development of technologies needed to power our industry and uphold our commitment to make American a sustainable airline so we can continue to deliver for customers for decades to come.”The investment and conditional commitment to purchase novel engine technology contributes to American’s aggressive goal to achieve net-zero greenhouse gas emissions by 2050. In recent years, American has undertaken the most extensive fleet renewal effort in the history of commercial aviation, which currently gives it the youngest mainline fleet of any major US network carrier and improves fuel efficiency. American has made industry-leading investments in sustainability, including finalising an offtake agreement with Infinium, a producer of next-generation low-carbon sustainable aviation fuel, and becoming the first customer of Graphyte’s innovative and permanent carbon removal process.“In signing this purchase agreement and furthering its investment, American is supporting our mission of innovation for clean aircraft propulsion and it is a good signal that ZeroAvia is delivering on our technology roadmap,” said ZeroAvia Founder and CEO Val Miftakhov. “The solutions that can serve the largest airlines are within reach, and the clean future of flight is coming.”ZeroAvia’s hydrogen-electric engines use hydrogen in fuel cells to generate electricity, which is then used to power electric motors to turn the aircraft’s propellers. The only inflight emission is low-temperature water vapour, and the lower intensity electrical systems have the potential to offer significant cost savings.ZeroAvia is working to deliver cleaner, greener by enabling electric propulsion. With a primary focus on developing hydrogen-electric (fuel cell-powered) engines, ZeroAvia has submitted its first powertrain for up to 20 seat planes for certification with a target of the end of 2025 and is working on a larger powertrain for 40–80 seat aircraft by 2027. The company has secured experimental certificates to test its engines in three separate testbed aircraft with the FAA and CAA and passed significant flight test milestones.Last year, ZeroAvia conducted a 10-minute test flight using an engine that converts hydrogen fuel into electricity to power one of the aircraft’s two engines.For heavy transport in particular, such as air travel, hydrogen is likely to be a promising option in reducing greenhouse gas emissions where the lower energy density (hence lower range), high initial costs, and slow recharging performance of batteries are major disadvantages.The advantages are clear: Hydrogen as on-board fuel or energy will allow for the complete elimination of CO2 emissions in flight, and along the entire energy life-cycle if produced from renewable sources. Its usage in fuel cells allows for zero-emission propulsion (including NOx and particles). When burnt in a turbine engine, very low particle emissions can be expected, as well as reduced NOx emissions, provided that the combustion system is optimised. However, when using hydrogen for combustion, more water vapour is produced. Considering all non-CO2 emissions at flight altitudes, the use of hydrogen in a thermal (combustion) engine will lead to different emissions compared to ‘drop-in’ fuel alternatives and consequently the full climatological impact will have to be assessed carefully.Rolls-Royce is working with easyJet to develop hydrogen combustion engine capabilities capable of powering a range of aircraft, including those in the narrow-body market segment.“Green hydrogen, made with electricity from renewable sources is the major factor for sector coupling in the energy sector. Fuel cells, fuelled with this green hydrogen, will play a key role in the decarbonisation of drive systems and power supply. No other technology offers such high reliability, modular scalability and the advantages of renewable energy without dependence on the conventional energy market”, explained Andreas Schell, CEO, Rolls-Royce Power Systems.The author is an aviation analyst. Twitter handle: @AlexInAir

Barbod Masoumi is a man who has stretched the borders as a crypto influencer and effectively transitioned into a millionaire businessman with an exceptional story to tell. However, using the words “humble beginnings” to describe his roots is just as much of an understatement as saying, “staggering success” to describe his present position.Of course, what makes Masoumi’s success so “staggering” is that he built his fortune in a mere five years! Masoumi transitioned his own influencer status, with more than 1.1 million social media followers, to helping others develop personal brands.He utilizes his own success to create success for countless clients. Today, in this exclusive interview, we were fortunate enough to sit down with Masoumi to discuss his journey and ultimately, his life achievements thus far.Q: It’s a pleasure to have you here, Barbod. I understand that you have transitioned into business, but can I quickly ask you first about your time in the cryptocurrency space?Masoumi: Yes, I was working as a freelance consultant when I learned how to make income independently. From there, I entered Iran’s cryptocurrency space, and with some strategic moves and investments, I built a reputation there. However, my work now is rooted in building influencers and developing personal brands, high-tech ventures, and that sort of thing. I'm an investor and a partner in multiple businesses.Q: Yes, you certainly have an impressive portfolio. Can you talk a little more about the range of investments and partnerships you’re involved in?Masoumi: Sure, I currently oversee the operations of two forward-thinking, high-tech companies. I also help create and make famous personal brands. The personal brands I manage have over 12 million unique followers combined, and their products range from trading platforms to educational products.Q: How do you perceive your trajectory, especially considering your net worth of over $100 million?Masoumi: You know, that really is the one part of my journey but it doesn’t really surprise me!When I look at the people and social circles around me, I feel as small as an ant in comparison! In just five years, I've gone from virtually nothing to the financial success I always hoped for.Now, sure I can tell you that I worked hard for it, but it really has been a matter of taking chances and believing in myself. I remember as a kid, sitting and dreaming of one day owning a phone [laughs].As for trajectory, my business goals are to invest heavily in more cutting-edge businesses.However, I only wish to inspire others with my story. I’d like to be seen as the type of business leader who radiates entrepreneurship and innovation for others to see and know that they can achieve as well. Recently, I began studying politics to elevate and challenge myself.Q: Your story really does epitomize success. So then, what exactly is it that sets you apart in your industry? What unique perspective do you bring?Masoumi: Well, I believe my journey resonates with many aspiring entrepreneurs. As I said, anything is attainable, no matter where you come from, and I'm honored to be considered as an example of that. And so, I’d say that it really is my behind-the-scenes focus on others that has set me apart—my ability to see the promise in others, and in businesses as well. I love to focus on influencers and personal brands. Among the 12 influencers I manage, we collectively have over 12 million unique followers, which constitutes 13% of Iran's population. This significant reach commands a lot of influence."Masoumi’s journey from a curious crypto investor to a multimillionaire businessman is an absolute inspiration for younger generations. And with Barbod Masoumi’s net worth and current ventures spanning high-tech enterprises, and other businesses, his impact is being noticed in almost every corner of the world and rightfully so.

Stakeholders in Qatar's startup ecosystem stand to gain from a programme aimed at supporting startup owners and entrepreneurs in addressing a wide variety of challenges. The "Open-Door VC programme", which will be launched soon by Rasmal Ventures, takes a page from the "office hour," where university professors and teaching assistants in the US schedule a meeting with their students outside class hours. Alexander Wiedmer, partner, Rasmal Ventures, made the announcement during Startup Grind Qatar's regular panel discussion, where he was joined by colleague Soumaya Ben Beya Dridje, junior partner. The event was moderated by Startup Grind Doha chapter director Indica Amarasinghe. Wiedmer explained that the 'Open-Door VC programme' is part of Rasmal Ventures' commitment to support the country's startup ecosystem. While Qatar has an abundance of workshops and fora that provide advice and other helpful resources to entrepreneurs, he noted that the programme adds to this by addressing a startup's concerns in detail. Each month, we will dedicate a morning or afternoon to having in-person meetings with startups. One of our partners at Rasmal Ventures will be available to welcome a startup to our office at Workinton Lusail, and to discuss a subject pre-defined by the entrepreneur. The goal of this initiative is to provide entrepreneurs in Qatar with the opportunity to meet with a venture capital professional to tackle a difficulty, brainstorm solutions, and gain valuable insights on a specific challenge they are facing- Wiedmer further explained. He added: "The ecosystem provides workshops that cover a range of startup topics. Rasmal Ventures is a proud contributor to them, and they are also important. With Open-Door VC, we aim to do something different; to contribute a new resource for entrepreneurs in Qatar: The ability to unlock a particular obstacle the startup is facing in a very direct and concrete one-on-one interview." During the panel discussion, Ben Beya Dridje also said: "We are here in Qatar, so we want to add value and contribute our part in elevating the startup ecosystem. This programme will foster growth and collaboration in the community. Helping startups and entrepreneurs prepare for their journey will make it easier for us to invest because they are VC-ready." She added: "Within the team, we have a strong shared value: "The more you give to the ecosystem, the more you receive". Not only will we share this mindset with the community, but most importantly, we will demonstrate it."

QNB Group will be the first financial institution in Qatar to “consider interim profits distribution” for the period ending June 30, 2024.QNB Group’s Board of Directors will hold a meeting on July 8 to discuss the bank’s financial results for the six-month period ending June 30.The Board of Directors meeting will consider an interim profit distribution for the period, QNB said.QNB said, “We are the first financial institution in Qatar to consider interim profits distribution for the period ending 30 June 2024. This decision comes in support the national economy. It is also in total alignment with the key pillars and goals of the Qatar National Vision 2030.“The decision to consider interim profits distribution for the period ending June 30 of this year enhances investors’ trust and market liquidity.”QNB is the largest financial institution in the Middle East and Africa. It currently ranks as the most valuable bank brand in the Middle East and Africa.Through its subsidiaries and associate companies, QNB Group extends to some 28 countries across three continents providing a comprehensive range of advance products and services. The total number of employees is more than 30,000 operating through 900 locations, with an ATM network of more than 5,000 machines.

Within the framework of Qatar’s Third National Development Strategy (NDS-3), implementing Business Continuity Management (BCM) emerges as an important aspect for organisations, a PwC official has said.“By prioritising business continuity programmes’ implementation in businesses, NDS-3 enables entities to navigate Qatar’s dynamic economy and recover swiftly from any potential disruptions,” said Bassam Hajhamad, Qatar country senior partner and consulting lead, PwC Middle East.Hajhamad made the statement in light of a BCM workshop held by PwC Middle East in Qatar, which was attended by more than 50 representatives from government organisations and the public sector in Qatar to explore the role of proactive business continuity in effectively handling disruptions.Attendees were provided with a comprehensive understanding of how investing towards BCM can prepare governments and corporations alike to address continuity risks and disruptions.The workshop discussed that robust governance is a crucial aspect to deliver multipronged sustainable solutions to safeguard the future and the public and private sectors alike must embrace business continuity mechanisms to enable collaborative innovation.Business Continuity Management supports businesses in building their resilience capability to continue delivery of services even if a disruption occurs. It also enhances the trust of key internal and external stakeholders while minimising the impact and recovering or restoring critical business operations and supporting enablers. Furthermore, it helps in establishing appropriate response and recovery management practices and in reducing risk exposure.As there is increasing appetite for environment-centricity in decision-making at all business levels as regional governments advance holistic sustainability agendas to safeguard their long-term economic growth, business continuity processes are considered an important aspect of businesses’ adoption.Nayaz Mohamed, partner, Resilience, PwC Middle East, said: “The innate ability to withstand and recover from disruptions is the platinum standard of corporate governance and we encourage our partners to prioritise business continuity and wider resilience strategies to not only safeguard their operations and protect their workforce, but also to maintain stakeholder confidence and ultimately contribute to the nation’s socio-economic vision.”Business Continuity Management is a comprehensive management process, which highlights possible threats and their impact on business operations of the organisation. The identification of threats allows to build organisational resilience and an effective response that will protect stakeholders’ interest, brand name, and reputation.

Qatar Chamber recently hosted a meeting of the Federation of GCC Chambers’ legal work team, which was held at the Hilton Doha Hotel in the presence of Ali Busherbak al-Mansouri, acting director general of the Qatar Chamber, and the participation of the legal advisors from member chambers.Al-Mansouri welcomed the participants in the meeting, wishing them success, saying the federation’s legal work team plays an important role in discussing all legal issues and matters. During the meeting, several topics and legal issues on the agenda were discussed.

The Qatar Stock Exchange (QSE) on Tuesday remained almost flat, after a 20-day bull-run, despite selling pressure in insurance, telecom, realty and consumer goods counters..text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[165545]**The foreign institutions were seen net profit takers as the 20-stock Qatar Index settled at 10,006.07 points, although it recovered from an intraday low of 9,986 points.The local retail investors were increasingly net sellers in the main market, whose year-to-date losses were at 7.61%.The Gulf individuals were increasingly bearish in the main bourse, whose capitalisation shrank QR0.25bn or 0.04% to QR577.34bn on the back of microcap segments.The foreign funds continued to be net sellers but with lesser intensity in the main market, which saw 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.41mn trade across 18 deals.As much as 60% of the traded constituents were in the red in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover and volumes were on the decrease.The Total Return Index was unchanged, while the All Share Index was down 0.05% and the All Islamic Index by 0.26% in the main market.The insurance sector index tanked 1.58%, telecom (1.14%), realty (0.28%) and consumer goods and services (0.23%); while banks and financial services gained 0.15%, transport (0.1%) and industrials (0.04%).Major losers in the main market included Doha Insurance, Beema, Qatar National Cement, Qatar Insurance, Qatari German Medical Devices, Doha Bank, Qamco and Ooredoo.Nevertheless, Mekdam Holding, Al Meera, Gulf International Services, QLM and Al Khaleej Takaful were among the gainers in the main bourse. In the venture market, Al Mahhar Holding and Techno Q saw their shares appreciate in value.The foreign institutions turned net sellers to the tune of QR16.78mn compared with net buyers of QR21.08mn on July 1.The Qatari retail investors’ net selling increased substantially to QR27.52mn against QR17.88mn the previous day.The Gulf individual investors’ net profit booking grew marginally to QR0.45mn compared to QR0.22mn on Monday.However, the domestic institutions’ net buying increased significantly to QR53.33mn against QR29.58mn on July 1.The Arab individuals were net buyers to the extent of QR1.56mn compared with net sellers of QR7.15mn the previous day.The foreign retail investors turned net buyers to the tune of QR0.71mn against net profit takers of QR4.1mn on Monday.The Gulf institutions’ net selling weakened drastically to QR10.83mn compared to QR20.99mn on July 1.The Arab institutions’ net profit booking eased perceptibly to QR0.01mn against QR0.33mn the previous day.Trade volumes in the main market declined 7% to 124.4mn shares, value by 2% to QR397.51mn and transactions by 3% to 15,918.The venture market saw a 172-fold jump in trade volume to 10.3mn equities and 71-fold in value to QR15.53mn on almost quadrupled deals to 79.

The State of Qatar, represented by the Ministry of Commerce and Industry (MoCI), hosted the third meeting for the Patent Committee for the Gulf Co-operation Council (GCC) countries.The meeting was part of the joint effort of Gulf countries in the field of patents, aimed at stimulating innovation, economic and knowledge growth, and protecting intellectual property in the GCC countries.It follows the decision of the Trade Co-operation Committee during its extraordinary meeting held in January 2021, which included the formation of the Patent Committee that is composed of officials of the competent authorities of each GCC member state.This congregation is part of a series of meetings held by MoCI to gather opinions, foster discussions, and promote cooperation in enhancing and developing shared intellectual property. It also supports the journey of joint Gulf efforts in the field of patents to achieve an economy based on knowledge and innovation.The meeting addressed several key points aimed at taking a holistic view of intellectual property issues and adopting a unified and common Gulf position. It also highlighted future plans in the field of intellectual property and the enhancement, protection and development of patents in the GCC countries.

The Qatar Financial Markets Authority (QFMA) has presented the draft code of market conduct for consultation among dealers in the Qatari financial markets, aimed at enhancing the protection of investors in securities from unfair or improper practices that involve fraud, deception or manipulation.The code of market conduct, which is in line with the QFMA's strategic objectives to develop the capital market and enhance its participants' confidence, seeks to enhance the regulatory environment and stability in the capital market, raise awareness levels for all participants dealing in the financial market and develop procedures to reduce risks associated with securities transactions.The code of conduct is also aimed at developing tools to enhance the market participants’ confidence in accordance with best international practices and standards, which in turn supports the growth and prosperity of the market.The provisions of the code of market conduct apply to any act, dealing, conduct or behavior by any means, including the use of technical tools to create and enter orders automatically or attempt to perform any of them with the intention of deceiving or misleading investors or manipulating the market without regard to the consequences of achieving profits, losses or damage to others.The key elements of the code of market conduct for consultation are the clarification of prohibited behaviors that involve manipulation or deception or any actions or practices that may give or are likely to give a false or misleading impression of securities, as well as behaviors that constitute manipulation or misleading about the supply or demand of a security.The misleading acts include promoting the purchase of a security for the purpose of selling it or enabling another person to sell it, or promoting the sale of a security for the purpose of buying or enabling another person to buy it, or buy or sale of securities at the market close for the purpose of misleading investors acting on the basis of closing prices, or entering buy or sell orders in a security order book for the purpose of creating a false impression of the volume of the order or supply, or entering orders or a series of orders in a security order book for the purpose of influencing on the share price in order to create an opportunity to sell or buy a security at a preferential price, or to enter an order or series of buy or sell orders on a security without having the intention to execute it.The code of market conduct also includes the prohibition of behaviors that constitute manipulation or misinformation about the trading activity of a security, behaviors that constitute manipulation or misinformation about fixing or creating an artificial price, behaviors related to the dissemination of false or misleading information, and trading behaviors based on inside information.

HE the Minister of Finance Ali bin Ahmed al-Kuwari met with Minister of Finance of the Republic of Yemen Salem Saleh bin Bureik, during his visit to Doha, reports QNA. During the meeting, they discussed bilateral relations between the two countries in the financial field, ways of expanding joint co-operation, and the most important economic, investment and trade developments.

Fitch Ratings has affirmed Commercial Bank's Long-Term Issuer Default Rating (IDR) at 'A' with a Stable Outlook. Fitch has also affirmed the Bank's Viability Rating (VR) at 'bb+'.The rating reflects potential support from the Qatari authorities as reflected in its Government Support Rating of 'a'. The Stable Outlook reflects that on the Qatari sovereign rating (AA/Stable).According to Fitch, Commercial Bank’s successful rating drivers are driven by:Stable Domestic Operating Environment.Strong Domestic Franchise.Improving Profitability.Joseph Abraham, Group Chief Executive Officer of Commercial Bank said: “Commercial Bank’s stable outlook demonstrates the ongoing success of our strategic plan implementation and strong franchise.” With Fitch’s rating in place, Commercial Bank currently enjoys strong credit ratings from all the major agencies. The Bank’s long-term outlook is rated A2/Prime-1 by Moody’s, and A-/Stable/A-2 by Standard & Poor’s. Both ratings with a stable outlook.

Qatar National Bank (QNB) Group, a Qatari public shareholding company, announced Tuesday its decision to distribute semi-annual dividends to shareholders, making it the first financial institution in the country to adopt this approach.QNB explained that this decision aims to bolster the national economy in alignment with the fundamental principles of Qatar National Vision 2030, particularly its economic facet, which focuses on developing a competitive and diversified economy capable of meeting current needs and ensuring a high standard of living for the future.The move to distribute dividends twice a year will enhance investor confidence in the bank's operational performance and provide regular updates on its strong financial position and ability to deliver attractive returns to shareholders.In the first quarter of this year, QNB Group's net profits rose by 7 percent to reach QR 4.14 billion, compared to QR 3.88 billion during the same period in 2023.Furthermore, the credit rating agency Fitch has affirmed QNB Group's rating at "A+" with a stable outlook. Fitch attributed this rating to the bank's market position, sound asset quality, strong profitability, and adequate capitalization against risks arising from its international presence.

The Qatar Stock Exchange (QSE) on Monday entered the 20th straight session of bull-run and its key index gained more than 42 points to cross the 10,000 levels, reflecting the.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[165545]**optimism in the regional markets in view of stronger global energy prices.The listed companies in which QatarEnergy is a shareholder saw their shares gain in view of the support of the initiative of interim dividends distribution by the hydrocarbon bellwether, as the 20-stock Qatar Index rose 0.42% to 10,006.52 points, recovering from an intraday low of 9,964 points.The domestic institutions were seen increasingly into net buying in the main market, whose year-to-date losses truncated to 7.61%.The foreign funds turned bullish in the main bourse, whose capitalisation added QR2.42bn or 0.42% to QR577.59bn on the back of small cap segments.The Gulf retail investors weakened net selling pressure had its influence in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.18mn trade across 23 deals.About 55% of the traded constituents extended gains to investors in the main bourse, which saw no trading of sovereign bonds and treasury bills.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index rose 0.42%, the All Share Index by 0.44% and the All Islamic Index by 0.4% in the main market.The insurance sector index shot up 1.25%, consumer goods and services (0.91%), banks and financial services (0.5%), industrials (0.5%) and real estate (0.28%); while transport and telecom declined 0.29% and 0.24% respectively.Major movers in the main market included Qatar Insurance, Dukhan Bank, Woqod, Gulf International Services and Qatar Islamic Bank. In the venture market, Techno Q saw its shares appreciate in value.Nevertheless, Qatar Cinema and Film Distribution, Masraf Al Rayan, Qatar Oman Investment, Dlala and Mazaya Qatar were among the major losers.The domestic institutions’ net buying increased substantially to QR29.58mn compared to QR18.14mn on June 30.The foreign institutions turned net buyers to the tune of QR21.08mn against net sellers of QR16.2mn the previous day.The Gulf individual investors’ net profit booking eased markedly to QR0.22mn compared to QR1.89mn on Sunday.However, the Gulf institutions’ net selling strengthened significantly to QR20.99mn against QR4.26mn on June 30.The Qatari retail investors were net sellers to the extent of QR17.88mn compared with net buyers of QR3.68mn the previous day.The Arab individuals turned net sellers to the tune of QR7.15mn against net buyers of QR1.36mn on Sunday.The foreign individual investors’ net profit booking expanded noticeably to QR4.1mn compared to QR0.81mn on June 30.The Arab institutions were net sellers to the extent of QR0.33mn against no major net exposure the previous day.Trade volumes in the main market grew 14% to 133.26mn shares, value by 34% to QR404.05mn and transactions by 65% to 16,350.The venture market saw 57% plunge in trade volume to 0.06mn equities, 39% in value to QR0.22mn and 54% in deals to 21.

QNB has launched the multi-currency travel Visa card, which is an innovative payment solution that enables customers to transact in Qatari riyals in addition to five foreign currencies.The five foreign currencies are US dollar (USD), euro (EUR), British pound (GBP), Swiss franc (CHF) and UAE dirham (AED). The card eliminates foreign exchange conversion fees tied to international card payments.QNB multi-currency travel Visa card aims to provide customers with “unparalleled” convenience, security, seamless payments, and savings.“It is set to transform how customers manage their funds while travelling abroad or making foreign currency online purchases, offering a worry-free experience,” QNB said yesterday.The card offers customers the ability to load it in Qatari riyals from their current or saving accounts using QNB Mobile Banking, then transfer and store multiple currencies into separate wallets onto a single card, eliminating the need to carry multiple cards or cash currencies when travelling.Furthermore, the card offers the advantage of locking in competitive exchange rates and eliminating inconvenient foreign currency conversion fees, allowing customers to enjoy transparent pricing with no hidden charges, as well as secured transactions using state-of-the-art technologies such as Apple Pay, Google Pay, Samsung Pay, and 3D Secure.The card is also globally accepted at Visa’s 130mn-plus merchant partners and can be used for online and in-store purchases.All QNB customers with a current or saving account who are registered in QNB Mobile Banking are eligible to get the card.Adel Ali al-Malki, senior executive vice president, QNB Retail Bank Group, said: “We are very proud to launch the QNB Multi-Currency Travel Visa Card that aims to enhance our customers’ payment and travel experiences. This innovative yet practical payment instrument is designed to offer ultimate convenience and security paving the way for our customers to make worry-free transactions without the need to carry cash, manage different currencies, or incur any unexpected or hidden conversion fees.”Shashank Singh, Visa’s vice-president and general manager for Qatar and Kuwait, said: “The QNB Multi-Currency Travel Visa Card is a great example of innovation meeting market needs and ultimately creating tangible value for consumers.“The international nature of the Qatar consumer means whether they are travelling or shopping online, they are dealing with multiple currencies, and so simplifying this experience – and delivering it securely - is vital. We are pleased to partner with QNB Group to bring this innovative solution to Qatar and extend the benefits of digital payments to more consumers and businesses."

TotalEnergies has announced the recognition of outstanding safety achievements and operational excellence among its partner QatarEnergy LNG, and contractor, SAIPEM. Mansur Zhakupov, TotalEnergies country chair and managing director of TotalEnergies EP Qatar, presented three distinguished awards to recognise the “remarkable” accomplishments within QatarEnergy LNG's operations. These are the HSE Award for five years without LTI in N2 operations, the achievement of 20mn safe manhours on the EPCOL Project and the ‘Beyond Excellence Award 2023’ for operational excellence and outstanding performance in safety, operations, and production. These awards reflect QatarEnergy LNG's unwavering dedication to safety and operational excellence. Its outstanding safety records both in operations of QatarEnergy LNG N2 Asset and in project execution, during a complex and dynamic development phase, brilliantly showcase this dedication. With exceptional operational performances, QatarEnergy LNG has set new industry standards” said Zhakupov, while presenting the awards in the presence of Sheikh Khalid bin Khalifa al-Thani, CEO, QatarEnergy LNG. Significant achievements by QatarEnergy LNG include two consecutive years of producing 16mn tonnes of LNG and innovative approaches to increase the utilisation of LNG Train 4 by treating additional gas. Furthermore, the planned shutdown on Train 5 was executed safely and on schedule in late 2023, contributing to the integrity and maintenance of the operation's critical components, including the integrity works and maintenance of the liquefaction process turbines. In a separate event held late 2023 at Karimun Yard in Indonesia, SAIPEM, the main contractor for the North Field Production Sustainability project (EPCOL), was also awarded by TotalEnergies Qatar for upholding 15mn manhours without incident as of October 2023. Their expertise in design, engineering, procurement, supply, construction, and installation of critical offshore gas infrastructures has contributed to the project's success. TotalEnergies is a long-term partner of QatarEnergy LNG, holding an 8.35% stake in N2 common shares and a 16.7% participation in Train 5. With its two LNG mega trains, N2 asset produces 16mn tons of LNG per year representing 20% of national production. This recognition of QatarEnergy LNG's safety and operational excellence, therefore, exemplifies the strong partnership between the two companies.

Qatar Chamber first vice-chairman Mohamed bin Towar al-Kuwari held a video call meeting with Rasulov Dilshod Ozodovich, deputy chairman of the Uzbekistan Chamber of Commerce and Industry.The meeting was attended by Mahmoud Mahmudov, economic adviser at the Uzbekistan Embassy in Doha, and Ahmed Abu Nahia, director of Public Relations at Qatar Chamber.The meeting discussed ways to enhance trade and economic co-operation between Qatar and Uzbekistan, the most important sectors for Qatar and Uzbekistan investors, and activating the agreements signed between both chambers.During the meeting, it was also agreed to hold a meeting of the Qatari-Uzbekistan Business Council in Doha next September and to make the necessary arrangements to organise a visit by a delegation of Qatari businessmen to Uzbekistan in October of this year.Al-Kuwari said Uzbekistan is an important destination for Qatari businessmen, who want to learn about investment opportunities. He said Qatar Chamber supports Qatari-Uzbekistani partnerships and joint projects.He also stressed the importance of investment incentives and legislation that protects foreign investments in Uzbekistan, explaining that the planned visit to Uzbekistan will enable Qatari businessmen to become closely acquainted with its investment climate and build trade relations with their counterparts, which will be reflected in the volume of trade between the two countries.For his part, Ozodovich said businessmen in Uzbekistan have great interest in entering the Qatari market and establishing projects in partnership with their Qatari counterparts. He noted that the upcoming meetings in September and October will allow both sides to learn more about the business climate and available opportunities.He said Uzbekistan provides guarantees to foreign investors, including investment opportunities in many sectors, such as mining, agriculture, renewable energy, and pharmacy, among others.