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The Investment and Trade Court has launched a specialized training program for law firms, aims to familiarize lawyers with the court's functions, as well as commercial and investment litigation procedures. The program also includes training on the electronic "Taqadi' system and a review of the latest technological updates that contribute to facilitating judicial services and enhancing the quality of judicial performance.The training program features a series of practical sessions and visual presentations delivered by court staff, enabling participants to gain hands-on insight into daily procedures within the judicial work environment, while enhancing their understanding of digital systems and procedural rules followed in the course of litigation.The training program comes as part of the Investment and Trade Court's efforts to enhance cooperation with law firms and transfer practical knowledge to legal practitioners. This contributes to developing performance and raising professional efficiency, in line with the Supreme Judicial Council's direction towards building an advanced judicial system based on quality and professionalism.Participants expressed their appreciation for the court's efforts in organizing this high-quality program, stressing that such initiatives contribute to the development of legal practices and reflect the court's leadership in the digital transformation of judicial services.Managing Partner and Lawyer Sultan Al-Abdullah of Sultan Al-Abdullah & Partners praised the efforts of the Investment and Trade Court in organizing this program and expressed his gratitude for the opportunity to participate. He emphasized the importance of considering the proposals put forward for adoption within the development plans, given their direct impact on supporting the digital justice system and improving the quality of services provided through the litigation platform.

His Excellency Sheikh Faisal bin Thani bin Faisal al-Thani, Minister of Commerce and Industry, Sunday met with Maxim Reshetnikov, Minister of Economic Development of Russia, who is currently visiting Qatar. The two sides discussed ways to deepen bilateral cooperation in the trade, investment and industrial sectors, as well as ways to further develop the ties. Qatar highlighted its economic policies supporting the private sector, in addition to the country’s pro-investment legislation, incentives and expanding opportunities offered to attract investors and business leaders to the Qatari market. 

The Italian Trade Agency (ITA), in collaboration with the Italian Ministry of Foreign Affairs and International Cooperation, is set to highlight Italy’s growing influence in the UAE’s construction and design sectors. This will be showcased through a strong national presence at Big 5 Global 2025 and Marble & Stone World 2025, held from November 24 to 27, 2025, at the Dubai World Trade Centre.This year, nearly 260+ Italian companies will showcase “Made in Italy” expertise in building materials, construction machinery, stone technologies, design solutions, and sustainable innovation. Their presence reflects Italy’s strong commercial relationship with the UAE and its commitment to supporting the region’s long-term urban development objectives.At Big 5 Global 2025, the Italian Pavilion organized by ITA will bring together 58 exhibitors representing high-performing Italian companies operating in building systems, windows and façades, solar shading, construction technologies, and industrial components. The participation is organized in collaboration with ANIMA Confindustria, UNACEA, FINCO (ACMI , ANFIT , ASSITES, and P.I.L.E.). Italy’s presence this year is further supported by OpportunITALY, the business acceleration program promoted by ITA and the Ministry of Foreign Affairs and International Cooperation. Through a curated buyer club and targeted matchmaking, the initiative enhances commercial opportunities for Italian companies and strengthens connections with the UAE and regional stakeholders.Simultaneously, at Marble and Stone World 2025, 40 Italian companies coordinated by Confindustria Marmomacchine will showcase advanced stone processing machinery, natural stone, engineered surfaces, and design applications.Italy continues to play an important role in supplying the UAE with high-quality construction materials and technologies. In 2024, Italy exported more than €166 million of building materials and stone products to the UAE. Updated industry data from ANIMA Confindustria shows that Italy’s construction technologies sector remained strong in 2024, with total production reaching €18.69 billion and exports recording €12.38 billion. Employment in the sector remained stable at more than 56,407 employees.Among all categories, valves and taps recorded the highest performance, reaching €9.55 billion in production and €6.05 billion in exports in 2024, supported by an employment base of 28,000 units. This was followed by equipment and components for thermal plants, which represented the second largest category with €2.90 billion in production, €1.92 billion in exports, and 10,500 employees.Lorenzo Fanara, Ambassador of Italy to the United Arab Emirates, said: “The strong and sustained performance of Italy’s building and stone exports reflects the deep-rooted partnership between Italy and the UAE. Italian craftsmanship, design, and innovation continue to inspire confidence and admiration in the region, perfectly complementing the UAE’s vision for sustainable urban growth and architectural excellence.”Valerio Soldani, Italian Trade Commissioner to the UAE and Oman, added:“Big 5 Global and Marble & Stone World remain essential platforms for showcasing Italy’s strength in engineering, industrial systems, and construction technologies. This year, nearly 100 Italian companies will participate across both exhibitions - 58 at Big 5 and 40 at Marble & Stone World - demonstrating the depth of our industrial capability and the continued demand for Italian innovation in the region. Italian companies continue to hold a strong global position, with the construction technologies sector reaching €18.69 billion in production and €12.38 billion in exports in 2024. Our presence in the UAE, supported by initiatives such as OpportunITALY, reflects our long-term commitment to the country’s evolving infrastructure needs and to strengthening commercial ties with partners across the region.” Alessandro Durante Director External and International Relations ANIMA Confindustria, added:“The Big 5 in Dubai remains where our industry meets the world — a true global crossroads, with the UAE attracting partners and innovators from every continent through its bold vision and ongoing investments.ANIMA Confindustria is proud to work with ITA and the Italian Embassy in the UAE on the organisation of the National Pavilion in the Heavy section, recognising the value of this exhibition and the importance of joining forces to strengthen and showcase Italy’s presence.”“Big 5 Global Dubai represents a key benchmark for the building envelope and specialized construction sector - emphasizes Carla Tomasi, President of the FINCO Federation, within which the Caseitaly project was developed thanks to the commitment of the promoting federated associations Acmi, Anfit, Assites, and Pile. The event is an ideal platform for opening up to international markets and showcasing Italian excellence in a dynamic and well-organized trade fair context.”MR. FLAVIO MARABELLI, Honorary President of CONFINDUSTRIA MARMOMACCHINE, added:“The UAE are a leading market in the natural stone sector and a strategic hub for the whole Middle Eastern area. For this reason, Italy is represented at MARBLE & STONE WORLD 2025 in Dubai by our Association with 40 of the best known and most reliable producers and processors of marble, granite and natural stone so that manufacturers of machinery, complete plants, tools and complementary products for extraction and transformation of raw blocks into finished products”.At both exhibitions, the Italian Pavilion will feature an extensive lineup of leading manufacturers and innovators in building materials, construction technologies, ceramics, and stone processing. Each company will present products that merge sustainability with aesthetics, hallmarks of the “Made in Italy” tradition, reflecting the country’s ability to combine heritage, creativity, and cutting-edge engineering.

The Civil Service and Government Development Bureau (CGB) concluded Thursday the activities of the First Gulf Forum on Artificial Intelligence in Civil Service, discussing innovative solutions otwards sustainable civil service. The forum was organized in collaboration with the Sultanate of Oman as part of the initiatives of the Technical Committee for Civil Service and Human Resources Affairs in the Gulf Cooperation Council (GCC) countries. The forum was attended CGB's Director General Saif bin Ali Al Kaabi, along with representatives from ministries and civil service authorities across the GCC, as well as specialists and employees from human resources and information systems departments. The event focused on showcasing leading Gulf experiences in leveraging artificial intelligence technologies to enhance government work efficiency, strengthen administrative system flexibility, and support smart institutional transformation in the civil service sector. The forum's activities included presentations by various Gulf entities, highlighting practical applications of AI in human resource management and the improvement of government services. A panel discussion was also held to explore the impact of smart solutions on the future of civil service. The forum's recommendations emphasized the importance of enhancing digital integration across the GCC, showcasing successful models and experiences in AI applications to improve government services, and supporting the path toward smart transformation in public administration. Additionally, the recommendations called for the establishment of a Gulf network to exchange expertise and best practices in the field of artificial intelligence, as well as encouraging institutional partnerships across the region to foster digital innovation and support smart transformation systems. 

Qatar Chamber acting general manager Ali Bu Sherbak al-Mansouri held a meeting Wednesday with InvestChile director Carla Flores to discuss trade and economic co-operation and ways to explore and enhance them.Both officials also reviewed areas of co-operation between Qatar Chamber and Invest Chile, including plans to sign a memorandum of understanding between the chamber and the Chilean Chamber.The proposed MoU aims to strengthen ties between the business communities in both countries and to activate the role of the Qatari and Chilean private sectors in supporting bilateral co-operation.Al-Mansouri lauded the strong relations between the two countries, particularly in the commercial and economic fields. However, he noted that the current volume of trade exchange remains below expectations, stressing the chamber’s keenness to enhance trade relations and expand partnerships between Qatari companies and their counterparts in Chile.Flores affirmed that Chilean business owners are keen to foster co-operation and forge business alliances with their Qatari counterparts, whether in Qatar or Chile, across various sectors, particularly mining, industry, renewable energy, and infrastructure. She urged Qatari private sector companies to explore the investment opportunities available in Chile.She explained that the visit aims to enhance co-operation and co-ordination with Qatar Chamber in organising joint business events and meetings. Flores proposed the conduct of a Qatari-Chilean Business Forum in Doha next year, noting that a regional office of InvestChile was recently opened in Riyadh. The office also covers Qatar and the UAE. 

Qatar Chamber acting director general Ali Bu Sherbak al-Mansouri held a meeting Sunday with Filomena Pina Pires, director of the Portuguese Industrial Association (AIP), and Manul Campos, AIP Project Partner. The meeting discussed bilateral trade and economic relations between Qatar and Portugal and ways to further develop them.It also addressed potential co-operation between the Qatar Chamber and AIP, including co-ordination to sign an agreement to strengthen ties between the business communities of both countries and enhance the role of the Qatari and Portuguese private sectors.Al-Mansouri praised the strong relations between the two countries, particularly in the commercial and economic fields. He noted that bilateral trade between Qatar and Portugal reached QR441mn in 2024, stressing the chamber’s commitment to deepening trade relations with Portugal and expanding partnerships between Qatari companies and their Portuguese counterparts.Pires affirmed the interest of Portuguese business owners in exploring available investment opportunities in Qatar and establishing partnerships with Qatari businessmen and investors, whether in Qatar or Portugal, across various sectors, including industry, trade, construction, agriculture, transport, and communications.She invited private sector companies in Qatar to visit Portugal and learn more about the opportunities available there. She added that the visit aims to enhance co-operation and co-ordination with the Qatar Chamber in organising joint business events and meetings targeting Qatari and Portuguese companies, as well as hosting trade fairs to showcase the products and services of the private sectors in both countries.Pires also noted that the Portuguese Industrial Association is the largest business association in Portugal, functioning also as a chamber of commerce and industry.

The Minister of Trade and Industry of the Republic of Rwanda Prudence Sebahizi affirmed that the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to the Rwandan capital Kigali reflects the depth of relations between the two countries and represents an important milestone in enhancing co-operation across various fields, especially economic and investment sectors.Speaking to Qatar News Agency (QNA), Sebahizi stated that bilateral relations have grown so fast and "built on mutual trust and co-operation, in Rwanda and Qatar, we have been trading to each other, but we also have other development co-operation, especially on the side of investment. Currently, Qatar Airways is investing in RWANDAIR, and jointly they are investing in the new airport in Rwanda, which is a good opportunity for Rwanda to position itself as a logistic hub, given our geographic location and also our relations with the rest of African countries". He added: "Our trade has grown more than 30%, which is a good indication that we have a lot of potential to trade to each other.Rwanda has been exporting coffee to Qatar. But at the same time we do import petroleum products and fertilisers and we think there is much more aspects of cooperation, especially in logistics and also innovation and ICT". The Minister pointed out: "Recently, we have signed a number of MoUs covering different areas of collaboration like ICT, education, agriculture, innovation, and so many others.This gives us assurance that there will be growing investment, even if today we don't have the size of investment on record, the most expected investment is the current project of expanding Kigali International Airport, and also investment in RWANDAIR". Sebahizi explained that Rwanda is a promising investment and tourism destination due to its stability and business-friendly environment, having ranked highly in World Bank reports on ease of doing business, making it one of the leading regional destinations for investment in tourism, hospitality, and technology sectors. In terms of ICT, he said, " Rwanda has been leading in ICT over the last 25 years in the region and the continent.We are among the best countries in the world in terms of policy framework to promote ICT. Again, I see Rwanda as a hub for investing in ICT". He added that Rwanda's membership in the African Continental Free Trade Area (AfCFTA) enhances its position as a key economic and trade centre connecting regional and international markets, stressing that co-operation with the State of Qatar could contribute to expanding economic development prospects at both bilateral and regional levels.Regarding his vision for strengthening co-operation between the two countries, Sebahizi said: " We also see it as a very good opportunity in terms of cooperation, because there is a lot we can learn from each other, the two countries that have the same vision, that have visionary leaders.There is a lot we can learn from that high-level leadership and also that friendship the two countries are enjoying". Concluding his remarks, Sebahizi addressed Qatari investors, inviting them to explore the promising opportunities Rwanda offers, affirming that his country enjoys political and economic stability and adopts transparent legal and regulatory frameworks that ensure investor protection.

Qatar Chamber hosted a high-level German trade delegation Wednesday, headed by Katharina Reiche, Federal Minister for Economic Affairs and Energy. The delegation was received by Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani, in the presence of several board members, a group of Qatari businessmen, and German ambassador Oliver Owcza.During the meeting, the German delegation and Qatari business leaders discussed co-operation relations, the investment climate in both Qatar and Germany, available investment opportunities, and the role of the private sector in promoting bilateral trade.They also discussed ways to enhance co-operation in key economic sectors such as energy, industry, and information technology. Sheikh Khalifa highlighted the strong and friendly relations between both countries, as well as the economic co-operation, which reflects the keenness of both leaderships to advance this partnership to broader horizons. He noted that Germany has long represented a model of excellence in advanced manufacturing and innovation and is one of the fundamental pillars of the global economy.He emphasised that the Qatar Chamber is proud of the presence of many German companies — known for their high technical expertise and global standards — whether as major partners or as independent entities in numerous large-scale projects in the country. Sheikh Khalifa also pointed out that Qatar has emerged as a leading commercial and industrial hub thanks to its strategic location, advanced infrastructure, and modern logistical facilities.He said the volume of trade exchange between the two countries reached QR6.6bn in 2024, noting that the meeting with the German delegation represents a practical step toward a stronger economic future for both nations. He expected that the ongoing dialogue, the exchange of expertise, and the activation of investment partnerships would open new horizons for co-operation. Sheikh Khalifa noted that Qatari investments in Germany, which span multiple sectors, are clear evidence of Qatar’s confidence in the German economy. At the same time, the Qatari side values the role of German companies operating in Qatar and their contribution to the development of many productive sectors.He called on companies from both sides to take advantage of the promising opportunities available in fields such as manufacturing, advanced technology, including artificial intelligence, clean energy, healthcare, sports, education, and many other sectors.Katharina affirmed that Qatar is a major and highly important partner for Germany, noting that 110 German companies had expressed a desire to join the delegation to Qatar, as all of them are interested in establishing partnerships and alliances with Qatari companies. She said 20 leading companies representing various sectors accompanied her on this visit and are eager to develop strategic alliances with their Qatari counterparts. She highlighted that the volume of trade between the two countries, particularly Qatar’s exports of raw materials and petrochemicals to Germany, reflects the strength of the bilateral partnership.She added that the growth of Germany’s GDP, along with the strong performance of the Qatari economy, which is expected to achieve 5% growth in the coming years, presents significant opportunities for expanding cooperation between the two nations.The German Minister also noted that around 100 German companies are currently exploring opportunities related to digital transformation in Qatar and are ready to participate actively in this sector. During the meeting, both parties reaffirmed their strong desire to expand co-operation and establish commercial partnerships across various sectors, especially in energy, artificial intelligence, digital transformation, carbon emissions reduction, satellites, space technology, and aviation.

His Excellency Dr Ahmed bin Mohammed al-Sayed, Minister of State for Foreign Trade Affairs, met with Samuel Okudzeto Ablakwa, Minister for Foreign Affairs of Ghana, who is currently visiting Qatar.The meeting reviewed the trade and investment relations between the two countries and explored ways to enhance bilateral relations, in addition to discussing a number of issues of mutual interest.

Investors’ daily waves of option sales are poised to slow a sustained stock rally back to record highs.Option-selling strategies have abounded in 2025, from exchange-traded fund overwrites to systematic zero-day to expiry trades and bank Quantitative Investment Strategies. On the other side, the dealers typically rebalance their positions each day by selling into rallies and buying dips.The slowing effect may be felt more on gains than drops, as JPMorgan Chase & Co strategists led by Bram Kaplan noted an increasing preference for selling calls over puts in recent weeks. Meanwhile, UBS Group AG points to a particular strategy — selling so-called iron condors — that is popular with retail traders.With investors focused on ever-shortening windows of volatility to manage risks, the influence of contracts expiring from zero to five days away has surged. Zero-day to expiry options in particular keep scaling new heights at about 60% of overall S&P 500 Index volume.The short iron condor strategy — where a trader sells a call spread above the current market level and a put spread below it — has become popular with some retail traders, boosting volumes. Positioning on one-day to expiry option trades in the S&P 500 — specifically via the short iron condors — may have helped contain recent rallies, according to derivatives strategists at UBS.“This 1DTE iron-condor flow is now leaving a very clear imprint on SPX options positioning profiles, to the extent that it may be influencing underlying price action,” said Kieran Diamond, derivatives strategist at UBS.The iron condor strategy is set up to collect premium as long as the market stays in a narrow range. Market makers holding the opposite side of such trades have more hedging to manage when the underlying price approaches the nearer call strike in the final 30 minutes of trading. The size of the spreads and the distance between the strike prices has increased in recent months, according to UBS.While overall market maker gamma positioning from 0DTEs is dynamic during trading hours, much of the flow is still from investors selling options. Dealer positioning is most extreme on the upside call strikes. The lower volatility on those increases the gamma per unit of notional, making the dealer hedging impact more pronounced.“The most significant risk sits to the upside, with SPX market makers managing very large long gamma exposure from the calls that the condor traders have sold to them,” said Diamond. “When managing this risk, market makers need to sell equities as the index moves up toward the strike, which makes it incrementally harder for the S&P to rally during the trading session.”The end of the day is particularly fraught. In the most extreme example from Oct. 24, S&P 500 dealer gamma reached a peak of around $90bn 10 minutes before the close, according to Diamond. This means that a roughly 0.1% move in spot would generate around $10bn in flow to be bought or sold.While that can be absorbed by the futures market, it isn’t without a price impact. In theory, markets may be more likely to gap-up outside of regular hours in Asia or Europe, as the dealer hedging needs subside at the close every day.“There were a number of sessions through October when the market seemed to struggle to break through the region where this long gamma is concentrated, but then rallied after the close once the majority of the options risk had expired,” said Diamond.That may offer opportunities to exploit such price distortions, for example buying a one-day option at the close every day and selling it back at the open the next morning. Dealer gamma resets daily from this flow, so positioning tends to flatten around the end of trading at 4 pm New York time.Some are sceptical about the market impact of a particular option strategy like the iron condor.“Of the 25 or so different things that are pushing markets in different directions, this is one of the 25,” said Chris Murphy, co-head of derivatives strategy at Susquehanna International Group.Murphy said it was simply “one of many factors” influencing the market. “It gets more attention than it deserves.”Also, there are questions about the sustainability of such systematic short option flows, especially if they are retail driven.“Any systematic short-option strategy generally harvests premium pretty well until a high volatility environment realises and then it kills the trade via convex losses,” said Garrett DeSimone, head quant at OptionMetrics. “Even if you have great risk management and you can time the exit points, you will likely end up being sidelined for such a long period that your investors will likely lose patience and redeem.”

His Excellency Dr Ahmed bin Mohammed al-Sayed, Minister of State for Foreign Trade Affairs, met with a number of senior US officials during his visit to Washington, DC, to discuss strengthening economic and trade ties between Qatar and the US.His Excellency al-Sayed met with David O Sacks, the White House ‘AI & Crypto Czar’ and co-chair of the President’s Council of Advisors on Science and Technology; Jacob Helberg, Undersecretary of State for Economic Growth, Energy and the Environment; Jeffrey I Kessler, Undersecretary of Commerce for Industry and Security; David L Fogel, Assistant Secretary of Commerce and Director General of the US & Foreign Commercial Service (Global Markets); and Ben Black, CEO of the US International Development Finance Corporation.**media[382148]**The programme also included a meeting with Jeffrey Goettman, candidate for the position of US Deputy Trade Representative. During the discussions, the Minister of State underscored that economic relations between Qatar and the US are defined by strong trade flows, mutual investment, and active private-sector collaboration.His Excellency al-Sayed emphasised the importance of the partnership across key areas, particularly trade and investment, and expressed confidence that mutual relations will continue to grow and deepen in the years ahead.

QNB expects the US Federal Reserve (Fed) to 'moderately' continue with its easing cycle, cutting the Fed funds rate twice more to 3.5%. Below trend labour and capacity utilisation justify continued policy rate cuts, while limited downside potential places the adequate floor to rates around neutral levels, QNB said in an economic commentary. The Fed is once again at the forefront of the global macro agenda, after a period dominated by US-driven trade negotiations, fiscal debates and geopolitical conflict. Economic policy uncertainty has been reduced significantly on the back of a plethora of trade deals and a less contentious fiscal framework from the Trump administration. Importantly, inflation uncertainty has also been reduced as prices are proving to be less responsive to higher tariffs than previously expected. However, despite the significant stabilisation of the overall policy environment, monetary policy is becoming a more contested space. While the Federal Open Market Committee (FOMC) of the Fed decided for another 25 basis points (bps) rate cut late last month, continuing with the easing cycle that started in September 2024 and resumed this September after eight months of pause, there is clearly significant dissent amongst FOMC Board members. In fact, during the last FOMC meeting, Fed Governor Stephen Miran dissented in favour of a larger 50 bps cut, whereas Kansas City Fed President Jeffrey Schmid dissented in favour of no reductions at all. This “two-sided” dissent is a very rare occurrence in a historically more consensus-prone Fed. Moreover, there seems to also be widening differences in conviction about the timing and even direction of Fed fund rates between markets and policymakers going forward. Investors are currently expecting the Fed to continue with the rate cutting cycle that started in September 2024, with one more 25 bps cut “priced in” for December 2025 and three further rate cuts throughout 2026, for a cyclical terminal rate of around 3%. But Jerome Powell, the Fed’s chairman, is less certain about this outcome, stating recently that further policy rate cuts are far from a foregone conclusion. In QNB’s view, there is space for two more 25 bps rate cuts, likely in December and again in early 2026. Hence, it believes that both the “hawkish” central bankers that want to pause again the monetary easing cycle and their “dovish” colleagues that advocate for much deeper rate cuts are likely too aggressive in their positions. Similarly, prevailing market expectations are likely too optimistic in their assessment about four further cuts to a 2026 end-year rate of 3%. Two main points sustain our view **media[382145]** First, we believe that there is still more room for a couple more rate cuts because current policy rates are still too tight vis-à-vis existing macro conditions in the US. At 4%, policy rates are restrictive or around 50 bps above what we consider to be the neutral rate, i.e., the level at which rates are neither supportive nor restrictive for activity. US capacity utilisation, measured in terms of the state of the labour market as well as the level of industrial activity, indicates that the US economy is set to run below potential. In H2-2025, for the first time in more than four years, the “jobs gap” is suggesting that the labour market is loose rather than tight, i.e., the sum of job openings and employment is lower than the total civilian labour force. This is because new job openings have been reduced significantly from more than 12mn new posts per month in early 2022 to around seven million in recent months. Importantly, coincident labour data from private sources are indicating an accelerating trend of US layoffs. US based employers cut more than 150 thousand jobs in October, marking the biggest reduction for the month in more than two decades, as companies are seeking to reduce costs, mitigate tariff-related margin pressures and increase efficiency with AI adoption. Moreover, industrial activity is running below its long-term trend. These conditions, that together inform QNB’s US capacity utilisation index, point to below potential growth and support additional rate cuts to neutral levels over the coming quarters, i.e., policy rates that are at the estimated neutral threshold of around 3.5%. Second, while there is room for additional policy easing, the further deeper cuts supported by the “dovish” members of the Fed and expected by markets seem to be too aggressive. The US economy adjusted significantly and slowed down from close to 3% growth in both 2023 and 2024 to around 2% growth this year. But there is little evidence of an incoming sharper downturn or deterioration, not to mention any potential recession. Investments have been strong on the back of record capex from tech companies seeking to lead the AI wave, whereas consumption has been slowing only gradually as US households still benefit from their strongest net financial position in decades. In other words, in the absence of new negative shocks, further downside pressure for US growth is limited. Hence, there appear to be no justification to reduce the policy rate further from neutral down to accommodative levels, QNB said.