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TUESDAY 17 NOVEMBER 2020

QSE FTSE 100 DOW BRENT6,421.29 +104.90 (1.66%) 29,924.62 +444.81 (1.51%) $ 44.12 (+1.36) 10,227.20 +24.84 (0.24%)

Qatar should look at more strategic investments in India's key sectors: KPMGThe exposure from the Qatar side to the Indian market is limited but it is increasing. India has improved its ranking on the ease of doing business score.

BUSINESS | 02H E Deepak Mittal Indian Ambassador to Qatar

Business

Qatar, Tunisia to boost trade tiesQNA — DOHA

Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, received Tunisia’s Minister of Commerce and Export Development, H E Mohamed Boussaid, who is currently visiting Doha.

Discussions touched on the promotion of bilateral relations and joint cooperation in the trade, investment and indus-trial fields.

Talks also focused on bilateral trade policies and the implications of the COVID-19 outbreak on the economic and trade developments in both countries and the efforts under-taken by both sides in the context of addressing the eco-nomic repercussions of this crisis.

During the meeting, the Minister of Commerce and Industry highlighted the eco-nomic policies that Qatar

adopted and the measures it took to abolish restrictions on foreign investment and create investment opportunities for companies looking to invest and establish a presence in Qatar.

Discussions also touched on coordination mechanisms to bolster bilateral trade and to enhance cooperation in priority sectors that would serve the developmental aspirations of both countries.

Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, during a meeting with Tunisia’s Minister of Commerce and Export Development, H E Mohamed Boussaid.

Rowad Qatar 2020 a unique platform for entrepreneursLANI ROSE R DIZON THE PENINSULA

Minister of Commerce and Industry and Chairman of Qatar Development Bank, H E Ali bin Ahmed Al Kuwari yesterday inaugurated the first ever virtual edition of the Qatar Entrepreneurship Conference 2020 (Rowad Qatar 2020) which is being held until Thursday. The event is being held under the patronage of the Prime Minister and Minister of Interior H E Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani.

The leading national initi-ative celebrating entrepre-neurship in Qatar was organised by QDB as part of the Global Entrepreneurship Network (GEN) movement. Every year, the global event sets in motion a series of entre-preneurship-focused activities and events in more than 180 countries. Speaking at the opening ceremony of the virtual event, Minister Al Kuwari said that the con-ference presents entrepreneurs with a unique platform to enhance their participation in building the future of Qatar’s economy.

In his speech, the Minister reiterated the government’s efforts to advance the entre-preneurship ecosystem in the country. He also referred to the

State’s COVID-19 national response measures and the achievements made in the field of entrepreneurship, led by the MoCI and QDB, including the launch of the National Guar-antee Program upon the direc-tives of the Amir H H Sheikh Tamim bin Hamad Al Thani, as part of the government’s QR75bn support package to the private sector.

The Minister also stressed that the Qatari government continues its efforts in removing all obstacles hin-dering market players in the private sector, which he said includes supporting the

entrepreneurial ecosystem during the recovery phase and steering its focus towards pri-ority sectors that rely on tech-nology and RDI as the national economy’s main drivers towards achieving the Qatar National Vision 2030.

He added that MoCI’s keenness to boost cooperation and joint coordination with various relevant government agencies aims to facilitate and expedite procedures for granting approvals and licenses necessary for setting up businesses as well as pro-viding access to these services through digital single-window platform.

The Minister added that the Ministry has also launched the ‘Land and Industrial Loan’ ini-tiative in collaboration with QBD to help investors obtain licenses and industrial plots in the manufacturing-SMEs space and complete the financing procedures using the same application submitted for acquiring the plot, in a step aimed at encouraging investors to contribute to the country’s progress, self-sufficiency, and economic diversification.

Minister Al Kuwari went on to reiterate the country’s achievements in the global scene, reiterating that Qatar ranked first in the MENA region and third globally according to GEM report last year. �P2

QNB closes syndication of $3.5bn term loanTHE PENINSULA — DOHA

QNB Group, the largest financial institution in the Middle East and Africa , announced yesterday the successful closing of the syndi-cation for its global dual tranche $3.5bn unsecured term loan facility. The syndication was well supported by 34 inter-national banks with substantial oversubscription.

QNB’s Group CEO, Abdulla Mubarak Al Khalifa (pictured), commented: “The closing of this syndication is exceptional in several aspects, it is the largest 5-year dual tranche syndication ever issued in the Middle East region for a bank. This tranche also attracted the interest of global banks and helped us further broaden our investor base. The issuance was substantially oversubscribed which, despite the challenges of COVID-19, demonstrates our standing as a high quality issuer. We see this transaction as confirmation of our suc-cessful strategy of becoming a leading bank in MEASEA.”

The facility included $2bn three year and $1.5bn five-year tranches, and will be used for general corporate purposes.

The syndication was fully underwritten by HSBC Bank Middle East Limited, Mizuho Bank, Ltd., Bank of America Merrill Lynch International Designated Activity Company, Barclays Bank PLC, MUFG Bank, Ltd., Maybank Kim Eng Securities Pte. Ltd., Standard Chartered Bank, SMBC Bank International plc and United

Overseas Bank Limited. Initial Mandated Lead Arrangers included J.P. Morgan Securities plc and Intesa Sanpaolo, QFC Branch along with the Underwriters.

HSBC was mandated as the Documentation Co-ordinator while Mizuho was mandated as the Syndication Co-ordi-nator and Facility Agent.

Earlier in September this year, QNB Group successfully completed its first green benchmark bond issuance and first ever green bond issued by a Qatari bank.

Under the Medium Term Note (MTN) Programme, $600m tranche in the form of Senior Unsecured Notes was issued with a maturity of 5 years and listed on the London Stock Exchange under Sus-tainable Bond Market segment.

QNB Group had received subscriptions in excess of $1.8bn demonstrating the global investor’s confidence in QNB Group’s solid financial fundamentals and strong financial performance.

The conference presents

entrepreneurs with a

unique platform to

enhance their

participation in building

the future of Qatar’s

economy. Government

continues its efforts in

removing all obstacles

hindering market players

in the private sector.

H E Ali bin Ahmed Al

Kuwari, Minister of Commerce and Industry and Chairman of QDB

Labour reforms in Qatar to attract more investments: AmCham QatarMOHAMMAD SHOEB THE PENINSULA

The recently introduced labour reforms in Qatar, and the continued efforts in this direction will further enhance country’s position as one of the most attractive destinations in the region, noted a top official of American Chamber of Commerce in Qatar (AmCham Qatar), yesterday.

Robert Hager, (pictured) Chairman of the Doha-based US industry representative body, also expressed his optimism about growing eco-nomic relations between Qatar and the US on the back of major breakthroughs in COVID-19 vaccines by several companies. He added that the global trade and investment will start rebounding by next year, which will further deepen and expand Qatar-US eco-nomic relations.

“We are hopeful, as COVID-19 vaccines come on line and populations become protected, that there will con-tinue to be a global rebound. This global recovery will likely prompt a significant increase in investment by the third and fourth quarters of 2021. The efforts on labour reforms will continue to increase the attrac-tiveness of Qatari market,” Hager told The Peninsula, yesterday.

He added that AmCham Qatar, in collaboration with the Ministry of Administrative Development, Labour and Social Affairs (MADLSA) and the UN’s International Labour

Organization (ILO) Project Office in Qatar, will hold‘Virtual Forum’ on Qatar’s labour reforms on December 2, 2020.

The forthcoming online event, which will start at 9am (Doha time), will discuss the various aspects of Qatar’s ongoing labour reforms like what has been achieved so far and what is in the pipeline to be implemented in the coming days, according to a statement issued by AmCham Qatar.

“During this interactive virtual conversation, speakers will present the recent and upcoming labour reforms and discuss the benefits of those reforms for the private sector. The Q & A (question and answer) will allow MADLSA and ILO to respond to questions that companies might have on those reforms and to provide good practices on how to adapt,” said the statement.

Some of the confirmed panel of speakers include Mohammed Al Obaidly, Under-secretary of Labour, Ministry of Administrative Development,

Labour and Social Affairs; Houtan Homayounpour, Director of International Labour Organization (ILO) Project Office for the State of Qatar and others.

Qatar in late August this year, announced the imple-mentation of some bold labour reforms, which include the introduction of minimum wage and removal of No-Objection Certificate requirement to change jobs for employees.

Private industry leaders and business executives have wel-comed the initiative with open arms as they believe that more liberal economic and labour lawas will make Qatar more economically competitive regionally and internationally which will help accelerate the process of economic diversification.

Industry experts say that these labour reforms will enhance global competi-tiveness of companies in Qatar and will ensure their con-formity with international labour regulations and best practices.

Biden meets with CEOs, Union headsBLOOMBERG

President-elect Joe Biden met yesterday with the chief exec-utives of General Motors Co and Microsoft Corp, as well as key labor leaders, as he begins to outline how to contain the coronavirus pandemic and revive the economy during his administration.

Mary Barra of GM and Satya Nadella of Microsoft were among the business leaders who joined him for a video meeting on how business and labor can work together. Labor officials par-ticipating in the conversation include Richard Trumka of the AFL-CIO and Rory Gamble of the United Auto Workers, as well as a number of other labor leaders.

“To get our economy back on track, we all agree on the common goal,” Biden told the group during the virtual meeting. “We agree that we can’t just build back the economy, we’ve got to build it back better,” he said using the slogan for his economic plan.

Biden said he deserved credit for gathering business and labor leaders together and looked forward to hearing the group’s “different perspec-tives” on how workers and businesses can operate safely to rebuild the economy amid the coronavirus downturn.

Vice President-elect Kamala Harris told the group the country would need their “collective leadership” to revive US economy.

AmCham Qatar, in

collaboration with

MADLSA and the UN’s

International Labour

Organization (ILO)

Project Office in Qatar,

will hold‘Virtual Forum’

on Qatar’s labour reforms

on December 2, 2020.

02 TUESDAY 17 NOVEMBER 2020BUSINESS

Qatar should look at more strategicinvestments in India’s key sectors: KPMGTHE PENINSULA - DOHA

There is no denial that Gulf countries have huge sovereign funds at their disposal. Among them, Qatar accounts for the largest share. But India has not found the right way to attract those funds yet.

In a panel discussion ‘Financing India — with focus on Qatar’, which was organised by Free Press Journal and SIES in association with Invest India recently, the need for syner-gizing investments require-ments was discussed, where 1800 participants attended through YouTube and Facebook.

The panelists for the session were H E Deepak Mittal, Indian Ambassador to Qatar; Dr. R Seetharaman, Group CEO of Doha Bank; and Gopal Balas-ubramaniam, Partner and Head of Audit at KPMG in Qatar. The session was moderated by R N Bhaskar and the closing remarks were delivered by Vaneeta Raney, head of BMM department, SIES.

Commenting on invest-ments, Deepak Mittal, said: “The exposure from the Qatar side to the Indian market is limited but it is increasing.” India has improved its ranking on the ease of doing business score and amended policies mainly related to the Finance Act which allows long-term investments by sov-ereign wealth funds (SWFs), especially in the priority infra-structure projects. Other measures were also being undertaken, and these will open up new opportunities for financing relationships between

India and Qatar, stressed Mittal. Qatar Investment Authority

(QIA) manages over $300bn worth of sovereign wealth funds globally. “2019-2020 has been a good year for India as far as getting the attention of QIA is concerned,” stated Gopal Balas-ubramaniam. “Prior to that, investments into India have been sluggish as investments did not do well in the past.”

But Gopal is optimistic that QIA may revisit its India strategy and is presently on dis-cussions for considering investing $1.5bn in Reliance Jio and might look at investing in the Unicorns as there is tre-mendous opportunity in India for the startup ventures.

Understanding the pattern of the QIA funding model, Dr Mittal said, “There is good interest in the healthcare, capital market, technology, pharmaceutical, among other

sectors (in the case of invest-ments). But it looks at projects which are mature and have less interest in green and brownfield projects.”

Commenting on greenfield projects in India, Gopal stated that India has been religiously investing in gas infrastructure to convert the country into a gas-based economy. “India’s gas consumption in the next 15-20 years will grow 2.5 times by 2040. About $120bn-$150bn investments are expected in the next five to six years. Around $300bn is expected in the next two decades’ in the gas sector alone.” Gopal added that while there are opportunities in the hydrocarbons sector, Qatar should look at more strategic investments in India’s key sectors under Atmanirbhar pro-gramme (self-reliant India pro-gramme) namely pharmaceu-tical, automobile, chemical and

consumer electronics. While Dr Mittal and Gopal

were suggesting ways to attract sovereign funds to India, Dr R Seetharaman suggested that India should work with Gulf countries to develop GCC (Gulf Cooperation Council) Devel-opment Bank or Gulf-India Development Bank and GCC NRI fund. He mentioned that man-aging $500bn paid-up capital, by GCC Development Bank or Gulf-India Development Bank, is an opportunity. “It is time that you convert the debt into equity.” Seetharaman further added: “I suggest the GCC NRI Fund. It can be set up using sov-ereign funds and NRI base.”

Globally, there are $6.6 trillion sovereign funds and from that $2.2 trillion lies in the Gulf. Qatar is managing around $300bn. Seetharaman suggested this is an opportunity that India should tap.

Indian Ambassador to Qatar, H E Deepak Mittal (top centre); Dr. R Seetharaman, Group CEO of Doha Bank (below left); Gopal Balasubramaniam (top right), Partner and Head of Audit at KPMG in Qatar, and other participants during the virtual panel discussion on ‘Financing India — with focus on Qatar’, which was organised by Free Press Journal and SIES in association with Invest India, recently.

Doha Bank announces

winner of Lexus LX 570THE PENINSULA - DOHA

Doha Bank announced yesterday the winner of the Salary Transfer Campaign. Customers who transferred their salaries to Doha Bank had the opportunity to win a brand-new Lexus LX 570.

During the event that took place at the bank’s headquarters on October 28, 2020, Mohamed K M A Al Kubaisi was announced as the winner of the Lexus LX 570. Braik Al Marri, Chief Retail Banking Officer, said: “We are delighted to announce the name of the Salary Transfer Campaign Lexus LX 570 winner. Once again Doha Bank is surpassing expec-tations by providing unrivalled opportunities for our customers to win exciting prizes. We are proud to have Mr. Mohamed K M A Al Kubaisi as our loyal cus-tomer for banking with us over a decade. We remain committed to cater to our customers by pro-viding them with the best-in-class services and products.”

Commenting about his long-term association with the Bank and winning the luxury SUV, Al Kubaisi, said: I’m extremely happy for winning this high-end

Lexus. I feel my relationship with Doha bank has awarded me with a beautiful gift that I always wanted to have. I consider this prize as my retirement gift and encourage everyone to choose Doha Bank for the best banking experience and get multiple rewards throughout the year. Even I am happy to recall that I won an Al Dana prize this year. It is a double joy for me this year with Doha bank.”

Doha Bank Salary account offers gateway to host of ben-efits from an amazing collection of features and privileges across all product categories includes competitive range of personal finance options at preferential rates with loan repayment hol-idays and credit cards with mul-tiple benefits catering to your lifestyle.

Furthermore, all account holders who maintain a balance above QR5,000 will automati-cally enter into the monthly Al Dana draws and still have oppor-tunities to win remaining cash prizes in excess of QR4m which includes Qatar National Day special prize of QR1m and the mega prize of QR2.5m.

The winner of Doha Bank’s ‘Salary Transfer Campaign’ Mohamed K M A Al Kubaisi receiving the key of Lexus LX 570 from Braik Al Marri, Chief Retail Banking Officer at Doha Bank.

QFC launches ‘Tech Talk Series’ to engage fintech communityTHE PENINSULA - DOHA

The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has launched the ‘QFC Tech Talk Series’, to encourage financial technology (Fintech) firms, experts and innovators from across Qatar’s digital innovation ecosystem to share ideas, network and explore opportunities spanning different verticals.

The inaugural episode of the ‘QFC Tech Talk Series’ featured Marwan Mahmoud, Founding Member, Doha Tech Angels, who shed light on the current Fintech investment climate in Qatar and beyond. His talk gave participants a vital economic overview of Qatar’s Fintech space, including investors’ expectations, and also the state of research and development in financial institutions. He touched on intellectual property transfer and monetisation,

next-generation transactions and the blockchain phenomena, social media convergence and microfinance, in addition to highlighting aspects of cyber-security, trust and regulation.

Commenting on the launch

of the flagship talk series, Henk Jan Hoogendoorn, Managing Director, Financial Sector Office at QFC, said: “The QFC Tech Talk Series is yet another important development in bol-stering connectivity across

Qatar’s Fintech ecosystem. As a main licensing platform and Fintech enabler for local and international firms in Qatar, we are glad to be engaging firms, practitioners and innovators.”

Hoogendoorn added:

“Complementing our attractive package of incentives and ben-efits for FinTech companies looking to set up at the QFC, we waive the application fee of $5,000 and also the first-year annual registration fee of $5,000 for qualified FinTech companies. Most importantly, through our upcoming launch of the QFC FinTech Circle, we will provide shared workspace and a registration address on our FinTech floor, rent-free for the first 12 months, for qualified firms.”

The QFC is an onshore juris-diction that allows registered companies to enjoy competitive benefits, such as up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation treaty network with over 80 countries, a legal environment based on English common law and the right to trade in any currency.

An expert delivering a presentation during the inaugural episode of the ‘QFC Tech Talk Series’.

Minister Al Kuwari

opens Rowad

Qatar 2020

FROM BUSINESS PAGE 1

Held under the theme ‘Business Sustainability: my impact on my economy and my country’, this year’s conference features panel discussion ses-sions and workshops, as well as a number of distinguished training courses that address key topics in various fields related to entrepreneurship in Qatar and the world.

During the event, winners of the Al Fikra Competition were also honoured and recog-nised for their achievements in the country’s business sector.

This year’s Rowad Qatar is supported by the Qatar Investment Authority as the conference’s strategic sponsor, Qatar National Bank and the National Tourism Council as platinum sponsors, Ooredoo as the gold sponsor, and Qatar Chamber as the honorary sponsor, in addition to a number of national partners repre-senting various sectors and industries.

The conference seeks to recognise distinguished business leaders and introduce them to the public through the Qatar Entrepreneurship Con-ference platform, which helps enrich the entrepreneurial com-munity in Qatar and further enhance Qatar’s position as a leader in this area at the regional and international levels.

During the event, GEN rep-resentatives also lauded QDB’s efforts in establishing the first virtual edition of the conference, which not only makes the event more accessible and enhances its global reach, but also on business sustainability and digital transformation.

ECB stimulus boost should focus on bond buying program and loans, says De CosBLOOMBERG

The European Central Bank should look at adjusting its pandemic bond-buying programme and cheap bank lending facility as part of the next stimulus push, Governing Council member Pablo Hernandez De Cos (pictured) said in a speech.

“In order to face the second wave of the pandemic, the recalibration of monetary policy instruments should include, at the very least, the use once again of our emergency bond buying program, and our long-term refi-nancing operations,” Hernandez de Cos,

who also heads Spain's central bank (Bank of Spain), said yesterday.

The euro area’s immediate eco-nomic outlook has darkened after a rise in coronavirus cases across the region forced governments to reintroduce restrictions on people and businesses. Hernandez de Cos’ comments echo those of ECB President Christine Lagarde, who last week effectively ruled out that an interest-rate cut would be part of the next economic support package expected in December.

“In case of worsening of inflation and economic activity the ECB Gov-erning Council will have to increase its

accommodative monetary policy, and avoid problems of fragmentation in the transmission of monetary policy through instruments that have shown themselves to be most effective during this crisis,” Hernandez de Cos said.

Separately, Lagarde said in a speech yesterday that a recovery in the euro-area economy is within sight, as long as sufficient policy support is present.

“We are seeing the other side of the river, but there is a lot of work that still needs to be done,” she said. “There is a lot of support that needs to be dis-played and financing conditions that need to be kept as favourable and as

conducive to investment in research and development by firms, in financing by banks and non-banks.”

UK shares jump on vaccine optimism; banks and travel stocks shineREUTERS - BENGALURU

British stocks jumped yesterday as positive vaccine data from drugmaker Moderna bolstered hopes of a swift economic recovery to pre-pandemic levels, offsetting concerns over a post-Brexit trade deal with the European Union.

The blue-chip FTSE 100 index closed 1.7 percent higher, after Moderna Inc reported its experimental vaccine is 94.5

percent effective in preventing COVID-19 based on interim data

from a late-stage trial. Pfizer Inc and German

drugmker BioNTech SE made a similar announcement on November 9. British drugmaker AstraZeneca Plc, which is yet to release results from its late-stage vaccine trials, fell 1 percent.

The domestically focussed mid-cap FTSE 250 index ended 1.8 percent higher, with cinema operator Cineworld Group Plc jumping 13.5 percent to the top

of the index. The wider travel and leisure sub-index gained 3.2 percent.

“This (vaccine news) is more evidence that an end to the pandemic is on the horizon and that the economy can even-tually reopen without fears of further lockdowns,” said David Trainer (pictured), CEO of New Constructs, an investment research firm based in Nash-ville, Tennessee.

Energy, bank and mining

stocks provided the biggest boost to the FTSE 100, which has already gained more than 15 percent this month, helped by a slew of local stimulus measures and hopes of a sooner-than-expected eco-nomic recovery.

Bank stocks also gained fol-lowing news that PNC Financial Services Group Inc would buy the US business of Spanish lender BBVA for $11.6bn in cash.

Vodafone Group Plc surged

6.9 percent, after saying it was increasingly confident about its full-year performance, while tech firm Smiths Group rose 4.8 percent, after highlighting a 30 million-pound cost-saving target for FY21.

Companies that have ben-efited from people staying home during the pandemic, such as Rentokil Initial, Just Eat Takeaway.com and Ocado Group Plc, tumbled between 3.3 percent and 4.1 percent.

03TUESDAY 17 NOVEMBER 2020 BUSINESS

Al Fikra Competition honours Qatar's resilient firmsLANI ROSE R DIZONTHE PENINSULA

The Al Fikra National Business Competition yesterday honoured three leading enterprises in Qatar which have shown resil-ience amid the ongoing COVID-19 pandemic, and for transforming the challenges they faced during the past several months into inspiration to innovate and develop solutions for the Qatari market.

Winners of this year’s Al Fikra Competition were announced during the first virtual edition of the Qatar Entre-preneurship Conference which was inaugurated yesterday. The competition was divided into dif-ferent categories including the ‘Resilient’ Awards, ‘Challenges’ category, ‘Startup’ category, and the ‘Mashrouie’ category.

The top three winners for the ‘Resilient’ Awards were Snoonu (first place), Qatar German Gasket Factory (second place), and Central Ventilation Systems (third place).

In a video presentation during the event, Snoonu’s Co-Founder and CEO Hamad Mubarak Al Hajri, narrated how

the company adjusted to chal-lenges brought by the global pandemic. Snoonu, is a delivery application in Qatar offering online shopping and food ordering services.

He said: “In all economic capitals, it is critically important to have the speed necessary to develop your own model. Our Snoonu model witnessed remarkable development. We transformed traditional trade into electrical trade. Many potential solutions are present amid minor details. For instance, the fleet we acquired throughout this period was actually acquired from loss-making taxi com-panies, the fulfillment employees

and the facility employees. I had six or seven problems, I put them together and came up with a fine solution. This way everybody wins. And this is what I call a win-win strategy”.

Qatar German Gasket Factory (QGGF), the first indus-trial gasket manufacturing facility in Qatar, was also quick to implement its health and safety protocols at the onset of the COVID-19 crisis.

QGGF Chairman Ghassan Hassan Al Salem said: “The coronavirus came as a shock to everyone. In my previous work as a pilot, I witnessed the SARS

and Bird Flue eras, so I was familiar with the measures they used to take, such as the pre-cautionary measures in airports and hotels. In Qatar German Factory, we took a lot of pre-cautions. Since day one, we have separated the workers. We designed a complete floor for quarantine to immediately isolate those suffering from any symptoms in that floor. As for the availability of raw materials in the factory, our strategy was for the factory to be self-suffi-cient for at least six production months, as this helped a lot with our sustainability without any single case of infection until today”.

Meanwhile, the winners of this year’s award in the ‘Chal-lenges’ category were Thought Square (first place), Tashtib (second place), and Ariva (third place). The winners were rec-ognised for their innovative business ideas to solve current challenges in the digital, healthcare, education, and industrial sectors.

In the ‘Startup category’, the winners were Offside Detector (first place), Vchanic (second place), and Sounha (third place).

Also, winners for the ‘Mashrouie’ category were Al-Diqah Factory for Metal Recy-cling (first place) and EcoVend (second place).

The Al Fikra National Business Competition, an ini-tiative by the Qatar Devel-opment Bank, was designed to encourage the establishment of new companies and foster a culture of entrepreneurship in Qatar. It is also an educational competition designed for Qatari led startups and entrepreneurs, enabling them to develop business ideas that can be turned into successful private value-adding businesses.

Qatar German Gasket Factory Chairman Ghassan Hassan Al Salem speaking in a video presentation during a virtual event yesterday.

Snoonu Co-Founder and CEO Hamad Mubarak Al Hajri, speaking in a video presentation during a virtual event yesterday.

The Al Fikra National

Business Competition, an

initiative by the Qatar

Development Bank, was

designed to encourage

the establishment of new

companies and foster a

culture of

entrepreneurship in

Qatar.

Oil moves higher

on latest vaccine

progress

REUTERS — LONDON

Oil prices climbed yesterday, recouping some losses from the previous session after US company Moderna Inc said its experimental vaccine was 94.5 percent effective in preventing COVID-19.

Brent crude futures for January were up $1.48, or 3.5 percent, to $44.26 a barrel by 1215 GMT, while US West Texas Intermediate crude for December was at $41.63, up $1.5 or 3.7 percent.

Prices were also buoyed by new data showing a rebound in the world’s second and third largest economies, China and Japan, as figures showed Chinese refineries processed the most crude ever in October on a daily basis.

Moderna’s announcement comes after Pfizer Inc reported last week that its vaccine was more than 90 percent effective, raising hopes that the damage to the global economy from the pandemic could be reduced.

Both WTI and Brent gained more than 8 percent last week on hopes of a vaccine for COVID-19 and that the Organ-ization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, would maintain lower output next year to support prices.

The group, known as OPEC+, has been cutting pro-duction by about 7.7 million barrels a day (bpd), with a com-pliance rate seen at 101 percent in October, and had planned to increase output by 2 million bpd from January.

OPEC+ is set to hold a min-isterial committee meeting today that could recommend changes to production quotas when all the ministers meet on November 30 and December 1.

“There is no denying that the oil market is fully in the hands of OPEC+,” SEB chief commodity analyst Bjarne Schieldrop said. “The organi-sation is the only reason why oil prices today are not $20 a barrel. As such, their upcoming meeting on November 30/December 1 is no less hugely important.” However, Libya’s speedy recovery in production to more than 1.2 million bpd presents a challenge to OPEC+ cuts, while a slowdown in traffic across Europe and the United States has dampened fuel demand recovery hopes this winter.

Japan's GDP grows 5% in Q3AFP — TOKYO

Japan’s economy exited recession in the third quarter, growing a better-than-expected 5.0 percent, government data showed yesterday, following a record contraction.

A rise in domestic demand as well as exports helped drive the quarter-on-quarter growth, after the coronavirus pandemic and a consumption tax hike slammed the economy into reverse earlier in the year.

The positive figures come after three quarters of con-traction in the world’s third-largest economy, with revised data showing the economy shrank 8.2 percent in Q2, more than the previously estimated 7.9 percent.

That was the worst figure for Japan since comparable data became available in 1980, exceeding even the brutal impact of the 2008 global financial crisis.

The Q3 growth will be welcome news for Japan’s gov-ernment, which has avoided the tough lockdown measures seen in some other countries as it tries to balance preventing the spread of coronavirus with protecting the economy.

The results also beat econ-omist expectations of 4.4 percent growth, and analysts said the recovery was likely to continue into the final quarter of the year.

“Between July and Sep-tember, economic activity in Japan experienced a return to a

somewhat normal status as the government lifted the state of emergency in the country,” said Naoya Oshikubo, senior econ-omist at Sumitomo Mitsui Trust.

“Looking ahead, we believe that GDP figures in the next quarter should continue to show signs of recovery, albeit at a slower pace,” Oshikubo said in a note before the official release of the data.

“Pent-up demand should decelerate, mainly due to second waves of COVID-19 overseas,” he added.

Japan was already struggling with a stagnating economy and the impact of a consumption tax hike implemented last year before the pandemic hit.

It has seen a smaller coro-navirus outbreak compared to some of the worst-hit countries, with infections approaching 120,000 and deaths at slightly under 2,000.

But Prime Minister Yoshihide Suga last week issued a warning over a recent rise in infections, though he said the government’s campaign to promote domestic tourism would not be halted for now.

Japan imposed a nationwide state of emergency in April as cases spiked, but restrictions were significantly looser than in many countries, with no enforcement mechanism to shutter businesses or keep people at home. The emergency was lifted in June, and the gov-ernment has been reluctant to reintroduce curbs.

Suga instructed his ministers last week to draw up a fresh eco-nomic stimulus package to help the economy weather the pandemic.

Earlier this year, the gov-ernment unleashed massive spending, including sending approximately $900 in stimulus funds to every adult and child in the country.

Tom Learmouth, Japan economist at Capital Economics, said the effects of the stimulus efforts were clear in the latest figures, with a 2.2 percent quarter-on-quarter rise in public spending.

“We expect GDP to rebound a further 1.2 percent quarter-on-quarter this quarter and to reach pre-virus levels - although not pre-sales tax hike levels - in the second half of next year,” he wrote in a note.

“While the third wave of coronavirus that is now a reality is a downside risk, our current assumption is that it will be con-tained as the second wave was, with minimal restrictions imposed on economic activity,” he added.

In October, the Bank of Japan lowered its economic growth and inflation forecasts for this fiscal year, but its governor said officials were ready to unveil fresh support measures if needed.

For the year to March 2021, the BoJ expects the economy to shrink 5.5 percent, against a 4.7 percent contraction in the July estimate.

People wearing protective masks, following the coronavirus disease outbreak, make their way at Shinagawa station in Tokyo, Japan, on Friday.

Korean Air to take over troubled Asiana Airlines for $1.6bn

AFP — SEOUL

South Korean flag-carrier Korean Air said yesterday it will buy out its smaller troubled rival Asiana Airlines in a $1.6bn deal as it looks to consolidate with the corona-virus pandemic sending shockwaves through the global aviation sector.

Worldwide travel restric-tions imposed to prevent the disease from spreading have wreaked havoc on the airline industry, hammering Asiana which was already in trouble.

“The main reason behind Korean Air’s decision to acquire Asiana Airlines at this time is to stabilise the Korean aviation industry, which is suf-fering from the Covid-19 pan-demic,” Korean Air said in a statement.

“Once Korean Air com-pletes its acquisition of Asiana Airlines, the airline is expected to be ranked as one of the top 10 airlines in the world.” Korean Air said it would pay 1.8 trillion won for Asiana, using cash from a 2.5 trillion

won rights issue early next year. The deal also includes Asiana’s affiliates, including low-cost carriers Air Seoul and Air Busan. “Considering that Korean Air’s financial status could also be endangered if the COVID-19 situation is pro-longed, it is inevitable to restructure the domestic avi-ation market to enhance its competitiveness and minimise the injection of public funds,” the Korean Air statement added.

Asiana has long been plagued by financial problems prompting parent company Kumho Industrial to put its 31 percent stake up for sale last year as it came under pressure from its creditors. A previous deal for a South Korean builder, HDC Hyundai Developer, to acquire Asiana collapsed in September as the pandemic tore through the aviation industry. Asiana reported operating losses of 268 billion won in the first six months of this year, with its debts soaring to 11.5 trillion won.

SF90 Spider makes its digital debutTHE PENINSULA — DOHA

The spider version of the SF90 Stradale, the SF90 Spider, was unveiled recently during a dedicated digital event. The first plug-in hybrid with retractable hard top in the Ferrari range is set to deliver unparalleled en plein air exhilaration. Not only is the car the Prancing Horse’s first production plug-in hybrid spider, but the SF90 Spider also sets new benchmarks for performance, innovation and the thrill of driving, not only for the marque’s range, but for the entire sports car sector.

The new convertible has the same extreme supercar specification and record-breaking per-formance as the SF90 Stradale, yet also adds further excitement and versatility to the mix, thanks to latest iteration of Ferrari’s signature Retractable Hard Top architecture which first debuted on a mid-rear engined berlinetta in 2011. The SF90 Spider thus represents a fundamental revision of the supercar concept that makes it the ideal car for owners that demand the very pinnacle of Ferrari technology, but still want to experience the joy of open-top driving.

The SF90 Spider’s plug-in hybrid system guar-antees performance levels unmatched by any other production spider: the car’s 780 cv turbo-charged V8 is augmented by three electric motors, one at the rear and two on the front axle, bringing its maximum power output to a staggering 1,000 cv. This state-of-the-art system does not complicate the driving experience in any way as a sophisti-cated control logic autonomously monitors and adjust power flows to suit the conditions of use. All the driver has to do is to select one of the power unit modes (eDrive, Hybrid, Performance and Qualify) on the brand-new eManettino for a won-derfully exhilarating experience behind the wheel. Like the SF90 Stradale, the SF90 Spider also has AWD, which has raised the bar for standing starts to unparalleled new speeds: 0-100 km/h in 2.5 s and 0-200 km/h in 7.0 s.

The mechanical layout adopted by the Maranello engineers has allowed them to further advance the car’s dynamic control system. The latter, now referred to as the eSSC, verifies the car’s dynamic status in real time. Based on that infor-mation, it controls vehicle stability by delivering torque independently via the front electric engines to the inside and outside wheel (Torque Vectoring),

significantly improving traction coming out of corners and making it much simpler and more intuitive to drive on the limit with confidence.

From an aerodynamic perspective, the result of the development process is an extreme design which, with a maximum of 390 kg of downforce at 250 km/h, sets the absolute benchmark in terms of both downforce and aerodynamic efficiency for the road cars in the range without aerodynamic appendages. The many innovative, patented solu-tions adopted include most notably the shut-off Gurney, an active system at the rear of the car which adapts to driving conditions, and the forged wheels with wing profiles which recall Ferrari’s F1-derived blown geometry.

Ferrari’s unparalleled quality standards and increasing focus on client service underpin the extended seven-year maintenance programme offered with the SF90 Spider. Available across the entire range, the programme covers all regular maintenance for the first seven years of the car’s life. This scheduled maintenance programme for Ferraris is an exclusive service that allows clients the certainty that their car is being kept at peak performance and safety over the years. This very special service is also available to owners of pre-owned Ferraris. Regular maintenance (at intervals of either 20,000km or once a year with no mileage restrictions), original spares and meticulous checks by staff trained directly at the Ferrari Training Centre in Maranello using the most modern diag-nostic tools are just some of the advantages of the Genuine Maintenance Programme. The service is available on all markets worldwide and from all Dealerships on the Official Dealership Network.

Twitter names famed hacker as head of securityREUTERS — SAN FRANCISCO

Social media giant Twitter, under increased threat of regu-lation and plagued by serious security breaches, is appointing one of the world’s best-regarded hackers to tackle everything from engineering missteps to misinformation.

The company yesterday named Peiter Zatko, widely known by his hacker handle Mudge, to the new position of head of security, giving him a broad mandate to recommend changes in structure and prac-tices. Zatko answers to CEO

Jack Dorsey and is expected to take over management of key security functions after a 45- to 60-day review.

Zatko said he will examine “information security, site integrity, physical security, platform integrity - which starts to touch on abuse and manipu-lation of the platform - and engineering.”

Zatko most recently oversaw security at the electronic pay-ments unicorn Stripe. He also worked on special projects at Google and oversaw handing out grants for projects on cyber-security at the Pentagon’s famed

Defense Advanced Research and Projects Agency.

Zatko’s colorful career began in the 1990s, when he simultaneously conducted clas-sified work for a government contractor and was among the leaders of Cult of the Dead Cow, a hacking group notorious for releasing Windows hacking tools in order to goad Microsoft into improving security. “I don’t know if anyone can fix Twitter’s security, but he’d be at the top of my list,” said Dan Kaufman, who supervised Zatko at DARPA and now leads the advanced products group at Google.

04 TUESDAY 17 NOVEMBER 2020BUSINESS

Retail sales in the

world’s second-largest

economy rose 4.3

percent on-year last

month, Beijing’s

National Bureau of

Statistics (NBS) said

yesterday.

Consumer spending picks up in ChinaAFP — BEIJING

China’s retail sales continued a general recovery in October, official data showed yesterday, on the back of a national holiday and policies aimed at boosting spending.

Although China has largely brought the coronavirus under control, spending has been slower to recover as the world still grapples with the impact of the pandemic.

Retail sales in the world’s second-largest economy rose 4.3 percent on-year last month, Beijing’s National Bureau of Statist ics (NBS) said yesterday.

At a press briefing, spokesman Fu Linghui said the pandemic “has dealt a second blow to countries” including the United States and those in Europe, and that global recovery had “further stalled” as a result.

“The domestic economy is still in recovery, with multiple challenges to be conquered before a full recovery,” Fu added.

While the retail figure is lower than the five percent growth expected by analysts polled by Bloomberg, it still

continued an upward trend as spenders gradually began to open their wallets again, par-ticularly around the week-long national holiday in October.

Catering sector revenue growth turned positive for the first time this year, the NBS said.

Research firm Oxford Eco-nomics said China’s recovery is on a “reasonably firm footing and will continue in the fourth quarter”. Industrial production growth in October remained the same as the month before, but continued to rise more than expected at 6.9 percent.

A strong rebound in exports could have helped industrial output, said Rajiv Biswas, Apac chief economist at IHS Markit, adding that there was also

potential for a pre-Christmas boost.

Meanwhile, the urban unemployment rate- a key concern with a large number of graduates entering the market this year after the pandemic hit -fell to 5.3 percent in October.

The NBS added that over 10 million new urban jobs have been created this year, meeting China’s annual target ahead of schedule, although analysts have cautioned the real unem-ployment figure could be higher.

But Nomura’s chief China

economist Lu Ting warned Monday that headwinds remain, with the possibility of some social virus restrictions extending into spring 2021 and earlier pent-up demand losing steam.

“Rising US-China tensions could dent China’s exports and manufacturing investment,” he added. At a forum last week, China’s ex-finance minister Lou Jiwei suggested trade tensions between the world’s two biggest economies could continue even under the administration of President-elect Joe Biden.

Employees working in the workshop of a lithium battery manufacturing company in Huaibei, eastern China’s Anhui province.

Nigeria inflation rate upon surging food costsBLOOMBERG

Nigerian inflation quickened for a 14th straight month in October on rising food prices caused by border closures, dollar restrictions and banditry attacks that are preventing farmers from producing food.

Consumer prices rose 14.2 percent from a year earlier, compared with 13.7 percent in September, Abuja-based National Bureau of Statistics said Tuesday in a report pub-lished on its website. The median estimate of five econ-o m i s t s s u r v e y e d b y Bloomberg was 14.1 percent. Costs rose 1.54 percent in the month.

This is the fifth year inflation has exceeded the central bank’s target range of 6 percent to 9 percent.

It will probably continue accelerating due to an end of fuel subsidies, currency weakness, typical price hikes related to the festive season and a recent order by Pres-ident Muhammadu Buhari that

restricts dollar access for food and fertilizer imports.

That will drive traders to the parallel market for foreign exchange, where they will pay a lot more.Food prices have been a key driver of inflation in Africa’s most populous nation.

The food index, which accounts for more than half the inflation basket, rose 17.4 percent, compared with 16.66 percent in September.

That’s the most since Feb-ruary 2018. Costs increased 1.96 percent in the month. Floods, violent farm attacks, and clashes between herders and farmers weigh on supply, though the government’s sof-tening stance on border clo-sures in place since August 2019 may reduce pressures.

An unexpected cut in the key interest rate by 100 basis points in September will probably mean the central bank will hold the rate at 11.5% next week as it seeks to support a recovery in Africa’s largest economy, even as inflation remains sticky.

Walmart to sell most of Japan’s Seiyu stake to Rakuten and KKRBLOOMBERG

Walmart Inc. is selling most of Japanese retailer Seiyu to KKR & Co. and Rakuten Inc. in a deal that values the supermarket chain at 172.5bn yen ($1.6bn), as the US giant retreats from its two-decade attempt to crack Japan’s retail market.

Under the agreement, private equity fund KKR will become the majority owner with a 65 percent stake, while

Japanese e-commerce giant Rakuten takes 20 percent, the companies said in a statement yesterday. Walmart will retain a 15 percent minority interest. Rakuten and KKR will seek to shore up Seiyu’s digital opera-tions as demand for online retail grows in Japan amid the pandemic.

The new owners are retaining a previously announced plan to re-list Seiyu in the future. “An IPO is

certainly common goal for us,” Eiji Yatagawa (pictured), a partner at KKR, told Bloomberg News. “What’s important is to

build a business that can go public. For a company to go public, you need to demonstrate a very attractive story to the market.”

In June last year, Walmart said it would seek to relist Seiyu, following years of speculation that it was seeking to sell the chain after years of poor per-formance. While a 2018 report in the Nikkei newspaper said the Bentonville, Arkansas-based retailer planned to sell the

business for as much as 500bn yen, the company had repeatedly denied it was looking to exit. The price paid by KKR and Rakuten for the stakes was not disclosed.

Walmart expects to rec-ognize a non-cash loss of about $2bn after taxes in the fiscal fourth quarter related to the deal, according to a regulatory filing.

The company “does not expect a significant impact to

earnings per share following completion of the transaction.” Walmart first invested in Seiyu in 2002 and took it private in 2008.

But like other foreign retail giants, including Tesco Plc and France’s Carrefour SA, it failed to find success in Japan’s noto-riously difficult and low-margin supermarket space, and struggled to compete with local rivals such as Aeon Co. and Seven & i Holdings Co.

QATAR STOCK EXCHANGE

QE Index 10,227.20 +0.24 %

QE Total Return Index 19,661.45 +0.24 %

QE Al Rayan Islamic Index - Price 2,329.44 -0.16 %

QE Al Rayan Islamic Index 4,155.65 -0.16 %

QE All Share Index 3,167.51 +0.26 %

QE All Share Banks &

Financial Services 4,290.77 +0.30 %

QE All Share Industrials 2,954.52 -0.25 %

QE All Share Transportation 3,070.48 +2.95 %

QE All Share Real Estate 1,864.12 -1.31 %

QE All Share Insurance 2,419.94 +0.55 %

QE All Share Telecoms 927.69 -1.02 %

QE All Share Consumer

Goods & Services 8,304.24 +0.61 %

QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES

GOLD AND SILVER

16-11-2020Index 10,227.20Change +24.84% +0.24%YTD% -1.90Volume 233,376,351Value (QAR) 564,837,782.38Trades 11,796Up 18 | Down 28 | Unchanged 02

15-11-2020Index 10,202.36Change -10.22% -0.10%YTD% -2.14Volume 223,063,946Value (QAR) 417,760,512.81Trades 8,307

EXCHANGE RATE

GOLD QR221.19 per grammeSILVER QR2.85 per gramme

Index Day’s Close Pt Chg % Chg Dow Jones Industrial Average 29,856.15 +376.34 +1.28%

S&P 500 3,614.83 +29.68 +0.83%

Nasdaq Composite Index 11,882.51 +53.22 +0.45%

FTSE 100 Index 6,421.29 +104.90 +1.66%

DAX Index 13,138.61 +61.89 +0.47%

CAC 40 Index 5,471.48 +91.32 +1.70%

Nikkei Stock Average 225 25,906.93 +521.06 +2.05%

Hang Seng Index 26,381.67 +224.81 +0.86%

Shanghai Composite Index 3,346.97 +36.86 +1.11%

ASX All Ordinaries Index 6,687.00 +77.70 +1.18%

Currency Buying (QAR) Selling (QAR)

US$ 3.6305 3.6500

Australian Dollar AUD 2.66 2.71

Canadian Dollar CAD 2.78 2.85

Euro EUR 4.29 4.37

Indian Rupee INR 0.05 0.0508

Iraqi Dinar IQD ---- 0.00332

Japanese Yen JPY 0.0347 0.0351

Nepalese Rupee NPR 0.0295 0.0314

Pakistani Rupee PKR 0.02273 0.02326

Philippine Peso PHP 0.0745 0.0765

Pound Sterling GBP 4.8200 4.87

Singapore Dollar SGD 2.64 2.73

South African Rand ZAR 0.229 0.238

Sri Lankan Rupee LKR 0.019 0.0202

Swedish Krona SEK ---- 0.425

Swiss Franc CHF 3.98 4.03

Turkish Lira TRY 0.465 0.485

QNBK - QNB 18.81 18.97 18.80 18.97 34,836 18.9 18.81 2,951 18.90 18.90 +0.09 +0.48 904 2,343,456 44,227,026.76

QIBK - Qatar Islamic Bank 16.51 16.50 16.38 16.51 106,998 16.47 16.46 15,000 16.47 16.47 -0.04 -0.24 599 1,961,712 32,256,595.68

CBQK - Comm. Bank of Qatar 4.35 4.345 4.345 4.409 8,000 4.408 4.39 10,529 4.407 4.41 +0.057 +1.31 524 4,726,266 20,771,765.920

DHBK - Doha Bank 2.421 2.41 2.40 2.42 3,700 2.42 2.412 20,000 2.42 2.42 -0.00 -0.04 30 859,636 2,079,339.39

ABQK - Ahli Bank 3.25 3.253 3.253 3.253 3,270 3.365 3.3 1,701 3.253 0.00 +0.003 +0.09 1 5,659 18,408.727

QIIK - Intl. Islamic Bank 8.70 8.700 8.678 8.700 10,000 8.699 8.684 14,929 8.699 8.699 -0.001 -0.01 139 937,958 8,152,461.609

MARK - Rayan 4.297 4.30 4.29 4.33 100,000 4.308 4.29 418,416 4.29 4.290 -0.01 -0.16 415 6,608,732 28,414,353.15

KCBK - Al khalij Commercial Bank 1.751 1.769 1.769 1.840 15,000 1.805 1.8 164,992 1.805 1.80 +0.054 +3.08 333 11,263,849 20,221,964.598

QFBQ - Qatar First Bank (QFC) 1.765 1.774 1.723 1.774 30,000 1.735 1.729 53,817 1.735 1.74 -0.030 -1.70 202 7,453,210 12,975,809.601

QETF - QE Index ETF 9.99 9.99 9.990 10.032 14,945 10.055 10.032 9,968 10.032 10.041 +0.042 +0.42 10 85,500 857,059.974

QATR - Al Rayan Qatar ETF 2.325 2.327 2.327 2.327 42,863 2.33 2.321 43,084 2.327 2.324 +0.002 +0.09 1 30,000 69,810.000

QATI - Qatar Insurance 2.50 2.500 2.500 2.528 10,000 2.524 2.521 532,465 2.521 2.521 +0.021 +0.84 265 5,745,253 14,417,216.929

DOHI - Doha Insurance 1.324 1.34 1.29 1.34 23,601 1.33 1.3 120,000 1.33 1.33 +0.01 +0.45 42 1,331,887 1,734,308.57

QGRI - General Insurance 2.26 0.00 0.00 0.00 7,977 2.26 2.102 9,410 2.26 0.00 0.00 0.00 0 0 0.00

AKHI - Alkhaleej Takaful 1.98 1.97 1.96 1.97 40,715 1.988 1.96 32,800 1.96 0.00 -0.02 -1.01 18 221,140 434,819.96

QISI - Islamic Insurance 6.45 6.449 6.45 6.45 4,971 6.5 6.45 4,730 6.45 0.00 0.00 0.00 2 10,270 66,239.50

QAMC - QAMCO 0.95 0.950 0.944 0.960 8,346 0.946 0.945 995,999 0.945 0.945 -0.005 -0.53 259 6,760,067 6,403,859.934

QIMD - Ind. Manf. Co. 3.058 3.058 3.058 3.066 50,000 3.065 3.058 3,766 3.058 0.000 0.000 0.00 23 80,373 245,798.564

QNCD - National Cement Co. 3.85 3.884 3.85 3.94 32,397 3.93 3.9 44,762 3.93 0.00 +0.08 +2.08 40 334,566 1,300,019.26

ZHCD - Zad Holding Company 14.85 15.00 14.99 15.00 3,800 15.0 14.85 3,000 14.99 0.00 +0.14 +0.94 7 75,851 1,137,166.49

IQCD - Industries Qatar 10.01 10.02 10.02 10.15 4,583 10.05 10.03 8,288 10.05 10.05 +0.04 +0.40 194 605,761 6,103,942.98

UDCD - United Dev. Company 1.58 1.58 1.54 1.59 8,995 1.556 1.55 1,034 1.55 1.55 -0.03 -1.90 414 12,254,811 19,053,002.89

QGMD - Qatar German Co. Med 1.88 1.90 1.86 1.90 24,091 1.869 1.857 80,000 1.86 1.860 -0.02 -1.06 118 1,608,816 3,014,603.12

QIGD - The Investors 1.83 1.811 1.80 1.83 23,446 1.819 1.801 100,000 1.80 0.00 -0.03 -1.64 25 220,608 401,210.82

ORDS - Ooredoo 6.801 6.797 6.690 6.804 11,629 6.702 6.701 2,817 6.701 6.70 -0.100 -1.47 363 1,368,166 9,217,471.902

QEWS - Electricity & Water 17.80 17.82 17.52 17.83 9,260 17.72 17.52 12,182 17.52 17.52 -0.28 -1.57 235 324,671 5,734,074.76

SIIS - Salam International 0.617 0.625 0.597 0.625 492,832 0.604 0.602 78,000 0.604 0.60 -0.013 -2.11 190 12,915,784 7,831,828.059

BLDN - Baladna 1.988 1.99 1.98 2.00 79,258 1.99 1.982 10,000 1.99 1.990 0.00 +0.10 116 1,315,188 2,613,570.72

NLCS - National Leasing 1.248 1.259 1.214 1.270 450,000 1.232 1.225 121,354 1.232 1.232 -0.016 -1.28 187 7,112,701 8,858,777.799

QNNS - Qatar Navigation 6.00 6.00 6.00 6.20 4,000 6.199 6.1 101,908 6.10 6.10 +0.10 +1.67 73 667,954 4,119,860.38

MCGS - Medicare 8.94 9.00 9.00 9.10 28,500 9.05 9.001 1,250 9.04 9.040 +0.10 +1.12 98 2,201,739 19,823,170.80

QCFS - Cinema 4.182 4.18 3.80 4.18 10,561 4.18 3.81 27,280 3.81 0.00 -0.37 -8.90 4 12,965 53,799.51

QFLS - Qatar Fuel 18.77 18.85 18.71 19.06 17,958 19.03 19.0 313 19.00 19.00 +0.23 +1.23 342 1,003,615 19,039,285.32

WDAM - Widam 7.00 6.90 6.88 6.90 12,087 6.9 6.876 7,050 6.90 6.900 -0.10 -1.43 26 262,703 1,812,632.17

GWCS - Gulf warehousing Co 5.00 5.015 4.981 5.015 529 4.999 4.984 782 4.999 5.00 -0.001 -0.02 144 1,194,339 5,971,025.099

QGTS - Nakilat 2.97 2.972 2.971 3.120 63,157 3.094 3.092 12,700 3.094 3.094 +0.124 +4.17 2,259 35,853,433 109,666,344.633

DBIS - Dlala 2.015 2.050 1.885 2.050 1,000 1.886 1.885 35,000 1.886 1.89 -0.129 -6.40 240 5,051,385 9,731,173.875

BRES - Barwa 3.445 3.447 3.407 3.463 4,153 3.45 3.418 187,588 3.418 3.418 -0.027 -0.78 286 1,910,220 6,555,110.843

MCCS - Mannai Corp. 2.891 2.881 2.880 2.881 1,000 2.9 2.881 36,000 2.881 0.000 -0.010 -0.35 4 37,115 106,899.400

AHCS - Aamal 0.869 0.869 0.854 0.870 95,621 0.864 0.858 135,404 0.864 0.864 -0.005 -0.58 103 3,409,537 2,947,993.441

QOIS - Qatar Oman 0.86 0.864 0.85 0.89 449,477 0.87 0.861 11,060 0.87 0.00 +0.01 +1.16 83 2,040,327 1,774,794.20

ERES - Ezdan Holding 1.63 1.64 1.58 1.65 130 1.6 1.597 40,000 1.60 1.600 -0.03 -1.84 785 18,430,174 29,733,986.33

IHGS - Inma 3.716 3.722 3.655 3.748 98,696 3.693 3.656 1,500 3.693 0.000 -0.023 -0.62 87 987,541 3,652,687.505

GISS - Gulf International 1.569 1.586 1.53 1.60 9,187 1.549 1.54 62,998 1.54 0.00 -0.03 -1.85 148 4,434,102 6,918,725.33

MPHC - Mesaieed 2.089 2.061 2.061 2.095 20,000 2.086 2.081 15,870 2.081 2.081 -0.008 -0.38 201 1,582,568 3,298,772.786

IGRD - Investment Holding 0.585 0.59 0.58 0.59 288,503 0.58 0.579 749,622 0.58 0.58 -0.00 -0.85 259 12,845,826 7,495,958.45

VFQS - Vodafone Qatar 1.335 1.332 1.330 1.359 69,000 1.338 1.332 10,000 1.338 1.338 +0.003 +0.22 125 2,727,472 3,649,842.269

MERS - Al Meera 20.35 20.01 20.01 20.55 200 20.49 20.3 315 20.30 20.30 -0.05 -0.25 68 134,476 2,746,282.56

MRDS - Mazaya 1.336 1.34 1.31 1.37 345,270 1.33 1.322 11,194 1.33 1.330 -0.01 -0.45 805 50,026,969 67,126,929.80