business - the peninsula...mar 13, 2019 · 02 business wednesday 13 march 2019 qatar keen to form...

BUSINESSWednesday 13 March 2019

PAGE | 02 PAGE | 03Qatar keen to form JVs with international

partners

Al Efrangi named CEO of QGIRCO

Qatar International Boat Show opens

H E Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, visiting the pavilion of German superyachts company Nobiskrug during the opening ceremony of the 6th Edition of Qatar International Boat Show at The Pearl-Qatar Marina, yesterday. PIC: QASSIM RAHMATULLAH / THE PENINSULA

MPHC underscores 5-year cost optimisation plansSATISH KANADY THE PENINSULA

Mesaieed Petrochemical Holding Company’s (MPHC) five-year plan for optimisation of costs, operations and assets will help reap additional value to MPHC shareholders. The Qapco-QVC integration resulted in further efficiencies in costs, stated Ahmad Saif Al Sulati, Chairman of MPHC yesterday.

Addressing the ordinary general assembly meeting of MPHC, the Chairman said MPHC’s strategy for the next five years is to improve effi-ciency via the on-going cost optimisation programmes and to invest selectively in capital projects in accordance with the approved investment policy and thereby adding value to MPHC’s shareholders. Addi-tionally, the group will con-tinue to focus on market devel-opment in order to broaden its customer base.

“We believe that continued investments in operating assets are essentially to remain com-petitive in the market. These investments will further strengthen the group’s compet-itive position in the region”, Al Sulaiti said.

On awarding of incentive shares, the Chairman said Qatar Petroleum has completed the distribution of the first tranche of free incentive shares to eli-gible shareholders of MPHC. The distributed shares are equivalent to 50 percent of those allotted to shareholders at the time of the MPHC initial public offering (IPO). The distribution of the second set of free incentive shares will take place on December 31, 2023.

Commenting on MPHC’s 2018 financial results, the Chairman said the company witnessed another year of stu-pendous financial and opera-tional performance. Product prices of group companies’ products remained robust, with overall improvement in prices

by 10 percent on the previous year. Sales volumes of group companies’ products were up by 4 percent, as the previous year witnessed planned maintenance in QChem. Driven by high revenue, MPHC’s net profit surged by 28 percent to reach QR1.4bn. Total assets closed at QR15.3bn, with solid liquidity position as cash held by the company stood at QR1.9bn, the Chairman said.

Listing out MPHC’s compet-itive advantages in the market, Al Sualiti said the group pos-sesses a strong and reliable asset base; robust liquidity position and ability to generate solid operating cash flow. Through its marketing arm Muntajat, MPHC has access to diverse base of worldwide clients.

With 18 offices around the world and a multinational team of experts, Muntajat BV, head-quartered in The Hague, Neth-erlands is responsible for mar-keting Muntajat’s pportfolio of products and is committed to continuously monitor local con-ditions and trends to better serve customers’ requirements and future needs. Muntajat is now the sole marketer and distributor of Industries Qatar (IQ) and MPHC’s finished products.

Ahmad Saif Al Sulati (second right), Chairman of Messaied Petrochemical Holding Company(MPHC)addressing the AGM at the Four Seasons Hotel, yesterday. PIC: QASSIM RAHMATULLAH / THE PENINSULA

QFC signs 2 MoUs with French firms to support digital industryTHE PENINSULA DOHA

The Qatar Financial Centre (QFC) signed two Memoranda of Under-standing (MoU) with Paris EURO-PLACE and Finance Innovation, to support the growth of Qatar’s booming digital industry.

Paris EUROPLACE is respon-sible for promoting and devel-oping the Paris financial market-place. Finance Innovation was launched by the French Ministry for the Economy and Finance in 2007 to stimulate the Paris financial centre, and encompasses 480 member organisations and companies.

The agreements aim to support the development of the

digital industry in Qatar, the exchange of expertise in inno-vation trends, cross-promoting start-ups in France and Qatar, as well as developing appropriate incentive packages to attract inter-national and local companies operating in the digital and tech-nology industry to establish a long-term presence in Qatar.

The signing ceremonies were attended by Qatar’s Ambassador to France, Sheikh Ali bin Jassim Al Thani; CEO of QFC Authority Yousuf Mohamed Al Jaida; Man-aging Director, Business Devel-opment, QFC Authority, Sheikha Alanoud bint Hamad Al Thani, as well as other QFC officials and high-level executives of Paris EUROPLACE and Finance

Innovation.Ambassador Sheikh Ali made

a special reference to the ‘Strategic Dialogue’ declaration of intent which has been signed earlier this month in Doha between Qatar and France. He stressed that signing the MoUs, between QFC and Paris EUROPLACE and Finance Inno-vation, is in line with the letter and spirit of the said Agreement, and considered that signing the MoU is a testimony to the strategic rela-tions between Qatar and France.

Al Jaida (of QFC), said: “The digitalisation of the economy is a key component of Qatar’s ambi-tious national initiatives and the Qatar Financial Centre’s mandate, both of which aim to enable further economic diversification.

We are confident that by part-nering with Paris EUROPLACE and Finance Innovation we can jointly contribute towards the continued success of the digital industry in

Qatar.” He added: “We have also recently announced our new strategy which emphasises key sectors including the digital industry, and these new partnerships follow

agreements with key local stake-holders including the Ministry of Transport and Communication as well as the Communication Regu-latory Authority.” �P02

Qatar’s Ambassador to France, Sheikh Ali bin Jassim Al Thani (second left); CEO of QFC Authority, Yousuf Mohamed Al Jaida (second right); and other officials during the event.

MPHC’s strategy for the next five years is to improve efficiency via the on-going cost optimisation programmes and to invest selectively in capital projects

Qatar Free Zones Authoritylaunches new Marine Cluster in Umm Alhoul

THE PENINSULA DOHA

Qatar Free Zones Authority (QFZA), an authority that develops and oversees world-class free zones in Qatar, has announced the launch of a new port and marine cluster, called MARSA, at the heart of Umm Alhoul Free Zone. The new area, located right next to Hamad Port and just 20 minutes from downtown Doha, is designed to be a fully integrated marine ecosystem able to support a wide range of marine business.

MARSA has a 1.6 kilometer long, 500 meter wide draught and a total of 3 kilometers of quay wall, allowing it to service ships up to 70 meters long. Applications for real

estate in the cluster are now open, and key expected activ-ities include but are not limited to ship building and repair, internal design and fit-out, boat brokerage and mar-itime research.

“QFZA is proud to play a role in the exciting develop-ments happening in Qatar’s maritime industry, and we hope to continue to support the growth of this centuries-old sector,” said Fahad Zainal, Chief Corporate Support Officer, speaking at the opening of the Qatar Interna-tional Boat Show in Doha. The Authority will participate in the boat show this week, where representatives from QFZA will be available to discuss oppor-tunities at MARSA and the application process.

US working on steel, aluminum tariff relief for Mexico & Canada REUTERS WASHINGTON

The United States is working on a plan that lifts steel and aluminum tariffs off Mexican and Canadian products while preserving the gains of those tariffs overall, US Trade Repre-sentative Robert Lighthizer said yesterday.

“What I’m trying to do is a have a practical solution to a real problem ... get rid of tariffs on these two, let them maintain their historic access to the US market which I think will allow us to still maintain the benefit of the s t e e l a n d a l u m i n u m program,” he told the US Senate Finance Committee at a hearing about the World Trade Organisation.

02 WEDNESDAY 13 MARCH 2019BUSINESS

Qatar keen to form JVs with international partnersTHE PENINSULA DOHA

Qatar is keen to further develop its private sector and promoting formation of joint ventures (JVs) with international partners aiming to achieve self-suffi-ciency, said Sheikh Faisal bin Qassim Al Thani, Chairman, Al Faisal Holding, in an interview with Oxford Business Group (OBG).

Qatar’s efforts to tap new investors, and goods and service providers farther afield, were among the topics discussed recently at a meeting held between Sheikh Faisal, who is also the chairman of Qatari Busi-nessmen’s Association.

Sheikh Faisal told OBG, the global research and consultancy company, that the ongoing regional blockade had generated new business opportunities for both local and international firms, as the country looks to the private sector to become more resourceful and drive new growth.

“One major advantage of Qatar is the presence of compet-itively priced raw materials,

including secure energy sup-plies,” he said. “The Qatari Gov-ernment considers industrial development to be an integral part of its plan to diversify the economy through leveraging off its huge natural gas reserves, and is strongly supporting local investment into the manufac-turing sector. In addition to the Government’s plan to invest in several downstream industries related to Oil and Gas sector, the Government is also encouraging private companies to invest in setting up local manufacturing and assembly facilities, spurred on by large scale infrastructure development,” added Sheikh Faisal.

“There is a clear will in Qatar to become more self-sufficient and put the emphasis on quality and efficiency. At the same time, the country is opening channels for new partnerships and joint ventures with the international community,” he said.

Sheikh Faisal also high-lighted the key part that Qatar’s rapidly advancing infrastructural development was playing in attracting international firms to its shores, helping the country

to consolidate its position as an investment destination and diversify the national economy. These include major projects either completed or under way include a raft of transport initi-atives, such as Hamad Port, Hamad International Airport, Doha Metro and new road net-works, while two additional free zones, located next to the port and airport, are expected to further strengthen Qatar’s bid to boost inflows.

“The establishment of Qatar’s free zones, as well as our world-class maritime and air infrastructure such as Hamad port and Hamad International Airport, are strong factors to further improve the country’s investment climate and also to support the development of local SMEs. We are seeing important steps to support the local private sector” he said.

In addition, international businesses are expected to benefit from incentives and new measures laid out in the much-anticipated Foreign Direct Investment Law.

Turning to the 2022 FIFA World Cup, Sheikh Faisal said Qatar’s role as competition host had helped to pave the way for the country to develop its tourism offering and increase visitor numbers.

“The government is taking bold steps to boost the country’s tourism industry,” he told OBG. “The World Cup is one key landmark on Qatar’s journey to becoming a global travel and tourism destination. This major event will dovetail with many other attractions and initiatives, including leisure, entertainment, culture and tradition, and retail activities.”

Sheikh Faisal also noted Qatar’s other strengths, which he said included a strategic location, with easy access to several inter-national markets, and ongoing expansion plans for the national carrier, Qatar Airways.

Sheikh Faisal bin Qassim Al Thani, Chairman, Al Faisal Holding, posing for a picture with the representatives of the Oxford Business Group (OBG) after an interview.

Chairman of GTA meets US officialTHE PENINSULA DOHA

The Chairman of General Tax Authority (GTA) Ahmed bin Issa Al Mohannadi met with Department of Treasury Financial Attache at the US Embassy in Qatar, Lesley Chavkin and Commercial Attache at the US Embassy in Qatar Ilona Shtrom.

During the meeting, they dis-cussed mechanisms to combat the financing of terrorism and money laundering, in addition to discussing issues related to law on establishing the General Tax Authority, income tax on companies and selective tax law.

This meeting comes part of the memorandum of understanding signed between the governments of Qatar and the US in July 2017 on the cooperation in the field of

combating terrorism which included joint commitments

between the two countries to expand information exchange and

capacity building initiatives to counter terrorist financing.

QFCRA and Central Bank of Oman sign MoU to enhance tiesTHE PENINSULA DOHA

The Qatar Financial Centre Regulatory Authority (QFCRA) and the Central Bank of Oman (CBO) have entered into a Memorandum of Understanding (MoU) to strengthen bilateral relations between the two parties.

The MoU was signed by Michael Ryan, Chief Executive Officer of the QFC Regulatory Authority and Taher Salim Al Amri, Executive President of the CBO. The signing took place on March 7, 2019, during a visit by the QFC Regulatory Authority to Muscat aimed at enhancing ties between the two parties through the MoU framework.

With the MoU, the QFC Reg-ulatory Authority and the CBO seek to encourage the estab-lishment of cross-border financial institutions between both jurisdictions and the exchange of information and expertise relating to financial regulation.

Mr Ryan welcomed the signing of the MoU, saying: “The QFC Regulatory Authority is committed to international cooperation as it provides an important mechanism for exchange of information and sharing of expertise. We are very pleased to have signed this MoU with the Central Bank of Oman and we look forward to building a strong relationship between our institutions.”

Michael Ryan (left), Chief Executive Officer of the QFC Regulatory Authority; and Taher Salim Al Amri, Executive President of the Central Bank of Oman; exchanging documents after the signing ceremony.

Industrial sector PPI edges downTHE PENINSULA DOHA

The PPI of January, 2019 for the Mining sector showed a decrease by 4.6 percent when compared with PPI for December 2018, primarily due to the decrease of “Crude petroleum and natural gas” prices by 4.6 percent. PPI of January 2019, when compared with January 2018, has seen an increase of 2.8 percent.

A decrease of 3.8 percent has been recorded in January 2019, when compared with the previous month’s Manufac-turing index (December, 2018). The prices decrease are seen in: “Refined Petroleum products” by 5.5 percent, “Basic Chem-icals” by 2.3 percent, “Rubber and Plastics products” by 0.9 percent, “Cement and Other non-metallic products” by 0.4 percent, “Dairy products” by 0.3 percent, “Juices” by 0.2 percent ,”Grain mill and Other products” and “Beverages” by 0.1 percent for each, QNA reported.

However, the increasing prices are noticed in: “Paper and Paper products “ by 1.6 percent, and “Basic Metals” by 1.5 percent.No change noticed in, “Other chemical products and fibers”.

Comparing with the index of corresponding period in the previous year (January 2018), “Manufacturing” PPI of January, 2019 showed a decrease of 7.9 percent. The major groups which explain this price fall are: “Refined Petroleum products” by 10.3 percent, “Basic Metals” by 7.7 percent, “Cement and Other non-metallic products” 3.8 percent, “Basic chemicals” by 2.1 percent, “Beverages” by 1.9 percent, “Grain mill and Other products” by 0.1 percent. However, prices rise also noticed in “Other chemical products and fibers” by 12.8 percent, followed by “Paper and Paper Products” by 11.9 percnet, “Dairy products” by 10.0 percent, and “Juices” by 5.2 percent. “Rubber and Plastics products” remained without any change.

The PPI of the Electricity and Water group showed an increase of 0.5 percent com-pared to December 2018, resulting from an increasing price in “Electricity” by 2.0 percent, and a decreasing in “Water” by 1.9 percent. When compared the PPI of January,2019, to the PPI of January, 2018 Y-o-Y, showed an increase of 5.5 percent, affected by prices rise in “Water” by 10.5 percent, and “Electricity” by 2.5 percent.

The Overall Index (PPI of Industrial sector) for January, 2019 is estimated at 65.7 points showing a decrease by 4.2 percent, when compared to the previous month’s December, 2018.

QFC signs 2 MoUs with French firms to support digital industryFROM BUSINESS PAGE 1

For her part Sheikha Alanoud said: “Our agreements with Paris EUROPLACE and Finance Inno-vation are yet another indication of the Qatar Financial Centre’s commitment to the important European and French markets. By leveraging the expertise of these institutions, particularly in the FinTech industry, we are confident that we can contribute significantly to the growth of the sector in Qatar.”

The CEO of Paris EURO-PLACE Arnaud de Bresson said: “The Paris financial center and its stakeholders have developed close relations with Qatar financial market players since more than 10 years. The sig-nature of the MOU is an

important step to accelerate our cooperation in different sectors such as investment banking, infrastructure financing, asset management but also, in financial innovation, based on a strong support to the Fintechs, particularly in the most inno-vative fields, Blockchain, AI, new payment solutions.”

The CEO, Finance Innovation Joelle Durieux, said: “We are excited about our partnership with QFC and the ample oppor-tunities it will provide to our local startups. Doha is one of the fastest growing FinTech markets and Qatar Financial Centre Authority has paved the way for SMEs to develop and test their products within an interna-tionally-recognised regulatory framework and a robust financial

ecosystem. This will ultimately allow French startups to expand their presence into the MENA region and explore further pros-pects for growth.”

For his part, the CEO of Qatar Foundation International Omran Al Kuwari ,said: “WISE is a response to the necessity of revi-talizing education and providing a global platform for the devel-opment of new ideas and solu-tions. It has evolved into a thriving global, multi-sectoral community, which continues to generate fruitful dialogue and productive partnerships.”

The CEO of WISE Stavros Yiannouka said: “We believe that our ideas about the future matter in education. Through these ideas we can proactively address the challenges and opportunities

posed by emerging technologies such as artificial intelligence and automation in the workplace. And we need to seize this moment to rethink what it means to be human.” Additionally, QFC offi-cials addressed the audience of the WISEParis Summit, which is a Qatar Foundation Initiative. The event gathered 800 French, European and international stakeholders, among them political decision makers, social entrepreneurs, innovators, NGOs and students, to discuss and col-laborate on actionable and inno-vative solutions in education, and was sponsored by the QFC.

The QFCs attending dele-gation was led by Al Jaida, CEO of QFC Authority who provided a keynote speech at the WISE Summit reception, and included

Sheikha Alanoud who provided the keynote speech to a UNESCO panel titled “A Future of Work For All”, which was held in Station F - the world’s largest business incubator.

Qatars digital infrastructure has already achieved significant international rankings including the first globally in Internet Pen-etration in 2017, as well as ninth globally in ICT adoption according to the World Eco-nomic Forum Global Competi-tiveness Report 2018, as well as many others.

Qatar also recently pledged $50m to Kuwaits investment fund in technology and digital economy across the region, reit-erating its continued com-mitment to developing the digital industry.

OECD sees less opposition to digital era tax revampREUTERS PARIS

A global effort to revamp international tax rules for the digital era is receiving less corporate push-back than past attempts, the OECD’s head of tax policy said yesterday.

The Organisation for Economic Cooperation and Development is sounding out businesses and interest groups on Wednesday and Thursday at a public consultation before it begins drafting much-anticipated reform proposals.

Corporate interests have in the past leaned hard against efforts to update international tax rules, which currently allow digital firms to keep tax bills lower than other more traditional companies.

However, OECD head of tax policy Pascal Saint-Amans said there was a change of tone judging from more than 200 comments the Paris-based policy forum received in a first call for input from businesses, accounting firms, tax justice NGOs and academics. “We have a signif-icant group of business people saying it’s probably time to do some-thing,” Saint-Amans told Reuters ahead of the start of the public hearing.

The Chairman of General Tax Authority, Ahmed bin Issa Al Mohannadi, holding discussions with Department of Treasury Financial Attache at the US Embassy in Qatar, Lesley Chavkin.

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03WEDNESDAY 13 MARCH 2019 BUSINESS

Pakistan presents investment opportunities in 30 projects

THE PENINSULA DOHA

The Chairman of the Pakistan Board of Investment (BOI) Haroon Sharif said that his country has presented 30 government projects and investment opportunities worth $10bn during his visit to Qatar.

These projects include a number of sectors such as hotels and resorts, power plants, large listed companies, educational institutions and others.

In an interview with Qatar News Agency (QNA), Sharif said that Pakistan and Qatar are moving quickly to complete important deals this year, including that both sides have identified mutually beneficial sectors and are moving towards specific deals, while predicting a promising future of cooper-ation between the two sides.

The two countries are expected to sign three or five Memorandums of Under-standing (MoU) over the next three months, especially in the energy sector, as well as projects in the hospitality sector, which will be the beginning of further confidence between the two sides.

Sharif said that this is his second visit Qatar in two months and that he

is accompanied by a delegation of business leaders from Pakistan. He added that he held fruitful meetings with a number of officials in Qatar and discussed mutual investments between the two sides, saying that Pakistani b u s i n e s s m e n expressed interest in investing in Qatar and pointed out that there is great interest in expanding economic relations, especially in the field of mutual investments.

According to Sharif, Qatari investments in Pakistan are con-centrated in the financial and insurance sectors, such as Islamic banks and contributions to some real estate projects. He noted that there’s been no investment on a large scale yet, and therefore he will create files for Qataris to consider the variety of opportunities they could choose.

Pakistan’s exports to Qatar following the blockade have gradually improved. According to latest figures in the aftermath of the blockade in the Gulf Paki-stan’s exports have increased to the tune of $89.898m during the Fiscal Year July 2017 to June 2018. During the same period in the year July 2016 to June 2017 this amount was $52.719m. There was thus an increase of 70.53 percent of Pakistani exports to Qatar.

The chairman added that during the current financial year 2018-19, the increased trend has solidified further, with an increase of 23 percent in the period from July 2018 to December 2018 against the same period in the preceding

financial year. This significant increase in exports from Pakistan is attributed to the opening of the Qatari food market as Qatar strives to be self-sufficient and seeks proactively for alternate sources of imports to Qatar. The trend is on the rise and Pakistani companies sense a lot of opportunities in the Qatari market.

He added, “Our imports from Qatar have also crossed the billion dollar mark and from period July 2017 to June 2018. Qatari exports to Pakistan stood at $1.58bn, an increase of 37.70 percent compared to $1.14bn during the same period July 2016 to June 2017.

Imports during the current year have also significantly grown by a massive 76 percent owing to rising demand for LNG. Balance of trade between the two countries therefore has been in favor of Qatar due to Pakistan’s imports of Liquid Natural Gas (LNG) and petro-chemical products. Qatar-Pakistan LNG agreement in February 2016 widened the trade balance.”

Haroon Sharif, Minister of State and Chairman of Pakistan’s Board of Investment. PIC: ABDUL BASIT / THE PENINSULA

Al Efrangi named CEO of QGIRCOTHE PENINSULA DOHA

Q a t a r G e n e r a l Insurance and Rein-surance Company (QGIRCO) announced its Board of Directors’ decision and Qatar C e n t r a l B a n k ’ s approval, to appoint Hassan Ahmed Hassan Al Efrangi (pictured) in the position of Group CEO for Qatar General Insurance and Rein-surance Group. Hassan Al Efrangi is one of the Qatari youth cadres, who is well recognised for his compe-tency, professionalism and distinction.

Such appointment follows Ghazi Abu Nahl’s res-ignation from this position after a long journey and a remarkable track record filled with achievements and successes for more than Forty years of ongoing givings u n d e r s i g n i f i c a n t challenges.”

Hassan Al Efrangi holds a university degree in financial management. With more than 20 years of expe-rience in the financial sector, Al Efrangi has significant business management capa-bilities and has extensive leadership experience, per-formance improvement and growth.

He has worked in Al Ahli Bank, where he has been in various positions including Credit and Branch Man-agement, Risk Management (Retail Sector), Head of Branch Network and Head of the Retail Sector, then Deputy Chief Executive Officer.

Al Efrangi thanked the Board of Directors - chairman and members - for their trust, which will be reflected into practice through the development and implementation of the strategic vision of the company in line with the challenges of the local market, and improve the performance and maximize the potential of the company in the long term. He expressed his delight for joining such a high esteemed group celebrating its fourth decade this year, with a prominent business repu-tation as one of the largest insurance companies in Qatar.

Al Efrangi wished his predecessor, Abu Nahl, success in his future projects, noting his great achieve-ments over decades.

The group consists of three major companies: Qatar General Insurance & Reinsurance Company, General Takaful Company and Qatar General Holding Company. The Group is reg-ulated by Qatar Central Bank (QCB), Qatar Financial Markets Authority (QFMA).


Qatar Leadership Centre briefed on QNV 2030 plansTHE PENINSULA DOHA

The Planning and Statistics Authority (PSA) has received a number of members of the Qatar Leadership Centre yesterday in order to learn about PSA mandate and role in following up the implemen-tation of the plans and projects related to Qatar National Vision (QNV) 2030.

The visit came within the framework of PSA awareness-raising plan. It aims at achieving community partnership between PSA and society segments in Qatar in order to raise and enhance the levels of education and enlightenment in the com-munity. Explaining the drive behind the Centre’s visit to PSA, Acting Managing Director at QLC, Dr. Ali J. Al Kubaisi said: “Through its National Leadership Pro-grams, QLC develops the coun-try’s talent pool to meet national objectives in social development, domestic production and inter-national commerce.”

Maha Ali Al-Merekhi, Director of the Strategy Imple-m e n t a t i o n F o l l o w - u p Department, made reference to a number of important points and themes related to the Second National Development Strategy (NDS-2) 2018-2022, which comes as a continuation of NDS-1 (2011-2016). This strategy aims to sustain eco-nomic, social, human and envi-ronmental development through the planning and implementation of projects based on facts and figures that contribute to the prosperity of all sectors in the State. NDS-2 performance management process constitutes an important transformation in measuring the performance and progress made by all sectors in Qatar.


Pakistan presents investment opportunities in 30 projects

THE PENINSULA DOHA

The Chairman of the Pakistan Board of Investment (BOI) Haroon Sharif said that his country has presented 30 government projects and investment opportunities worth $10bn during his visit to Qatar.


In an interview with Qatar News Agency (QNA), Sharif said that Pakistan and Qatar are moving quickly to complete important deals this year, including that both sides have identified mutually beneficial sectors and are moving towards specific deals, while predicting a promising future of cooper-ation between the two sides.

The two countries are expected to sign three or five Memorandums of Under-standing (MoU) over the next three months, especially in the energy sector, as well as projects in the hospitality sector, which will be the beginning of further confidence between the two sides.

Sharif said that this is his second visit Qatar in two months and that he

is accompanied by a delegation of business leaders from Pakistan. He added that he held fruitful meetings with a number of officials in Qatar and discussed mutual investments between the two sides, saying that Pakistani b u s i n e s s m e n expressed interest in investing in Qatar and pointed out that there is great interest in expanding economic relations, especially in the field of mutual investments.

According to Sharif, Qatari investments in Pakistan are con-centrated in the financial and insurance sectors, such as Islamic banks and contributions to some real estate projects. He noted that there’s been no investment on a large scale yet, and therefore he will create files for Qataris to consider the variety of opportunities they could choose.

Pakistan’s exports to Qatar following the blockade have gradually improved. According to latest figures in the aftermath of the blockade in the Gulf Paki-stan’s exports have increased to the tune of $89.898m during the Fiscal Year July 2017 to June 2018. During the same period in the year July 2016 to June 2017 this amount was $52.719m. There was thus an increase of 70.53 percent of Pakistani exports to Qatar.

The chairman added that during the current financial year 2018-19, the increased trend has solidified further, with an increase of 23 percent in the period from July 2018 to December 2018 against the same period in the preceding

financial year. This significant increase in exports from Pakistan is attributed to the opening of the Qatari food market as Qatar strives to be self-sufficient and seeks proactively for alternate sources of imports to Qatar. The trend is on the rise and Pakistani companies sense a lot of opportunities in the Qatari market.

He added, “Our imports from Qatar have also crossed the billion dollar mark and from period July 2017 to June 2018. Qatari exports to Pakistan stood at $1.58bn, an increase of 37.70 percent compared to $1.14bn during the same period July 2016 to June 2017.

Imports during the current year have also significantly grown by a massive 76 percent owing to rising demand for LNG. Balance of trade between the two countries therefore has been in favor of Qatar due to Pakistan’s imports of Liquid Natural Gas (LNG) and petro-chemical products. Qatar-Pakistan LNG agreement in February 2016 widened the trade balance.”

Haroon Sharif, Minister of State and Chairman of Pakistan’s Board of Investment. PIC: ABDUL BASIT / THE PENINSULA

Al Efrangi named CEO of QGIRCOTHE PENINSULA DOHA

Q a t a r G e n e r a l Insurance and Rein-surance Company (QGIRCO) announce its Board of Directors’ decision and Qatar C e n t r a l B a n k ’ s approval, to appoint Hassan Ahmed Hassan Al Efrangi (pictured) in the position of Group CEO for Qatar General Insurance and Rein-surance Group. Hassan Al Efrangi is one of the Qatari youth cadres, who is well recognised for his compe-tency, professionalism and distinction.

Such appointment follows Ghazi Abu Nahl’s res-ignation from this position after a long journey and a remarkable track record filled with achievements and successes for more than Forty years of ongoing givings u n d e r s i g n i f i c a n t challenges.”

Hassan Al Efrangi holds a university degree in financial management. With more than 20 years of expe-rience in the financial sector, Al Efrangi has significant business management capa-bilities and has extensive leadership experience, per-formance improvement and growth.

He has worked in Al Ahli Bank, where he has been in various positions including Credit and Branch Man-agement, Risk Management (Retail Sector), Head of Branch Network and Head of the Retail Sector, then Deputy Chief Executive Officer.

Al Efrangi thanked the Board of Directors - chairman and members - for their trust, which will be reflected into practice through the development and implementation of the strategic vision of the company in line with the challenges of the local market, and improve the performance and maximize the potential of the company in the long term. He expressed his delight for joining such a high esteemed group celebrating its fourth decade this year, with a prominent business repu-tation as one of the largest insurance companies in Qatar.

Al Efrangi wished his predecessor, Abu Nahl, success in his future projects, noting his great achieve-ments over decades.

The group consists of three major companies: Qatar General Insurance & Reinsurance Company, General Takaful Company and Qatar General Holding Company. The Group is reg-ulated by Qatar Central Bank (QCB), Qatar Financial Markets Authority (QFMA).


Qatar Leadership Centre briefed on QNV 2030 plansTHE PENINSULA DOHA

The Planning and Statistics Authority (PSA) has received a number of members of the Qatar Leadership Centre yesterday in order to learn about PSA mandate and role in following up the implemen-tation of the plans and projects related to Qatar National Vision (QNV) 2030.

The visit came within the framework of PSA awareness-raising plan. It aims at achieving community partnership between PSA and society segments in Qatar in order to raise and enhance the levels of education and enlightenment in the com-munity. Explaining the drive behind the Centre’s visit to PSA, Acting Managing Director at QLC, Dr. Ali J. Al Kubaisi said: “Through its National Leadership Pro-grams, QLC develops the coun-try’s talent pool to meet national objectives in social development, domestic production and inter-national commerce.”

Maha Ali Al-Merekhi, Director of the Strategy Imple-m e n t a t i o n F o l l o w - u p Department, made reference to a number of important points and themes related to the Second National Development Strategy (NDS-2) 2018-2022, which comes as a continuation of NDS-1 (2011-2016). This strategy aims to sustain eco-nomic, social, human and envi-ronmental development through the planning and implementation of projects based on facts and figures that contribute to the prosperity of all sectors in the State. NDS-2 performance management process constitutes an important transformation in measuring the performance and progress made by all sectors in Qatar.


European Council discusses economic affairs

MIPIM international real estate show

Japanese firms wary of wage hike as economy wobblesREUTERS TOKYO

Big Japanese firms are set to offer smaller pay increases this year at annual wage talks on Wednesday as the economy sputters, tempering hopes that domestic consumption will offset external risks to growth.

Over the past five years, major firms raised wages above 2 percent each spring as Prime Minister Shinzo Abe kept up the pressure on businesses to boost pay in an effort to beat deflation that has dogged Japan for nearly two decades.

But as economic growth slows, firms have become wary about wage hikes because that commits them to higher fixed costs at a time of uncertainty as company profits are levelling off.

“I worry the momentum towards wage hikes may weaken as underlying inflation remains weak and there is a strong sense of uncertainty,” said Hisashi Yamada, senior economist at Japan Research Institute.

“Uncertainty is high on the external outlook such as the US-China trade war and Europe’s unstable politics. On top of that, a national sales tax is scheduled to increase in October.”

A slowdown in the global economy, the Sino-US trade war and trepidation over the final shape of a deal to seal Britain’s exit from the European Union have sharply increased strains on businesses worldwide.

Faced with the heightened uncertainty about the growth outlook, cautious Japanese firms usually prefer to offer one-off bonuses and other ben-efits depending on annual profits.

They tend to focus more on the annual total sum payment

than fixed base salaries, which will determine retirement payment and pension benefits.

Results of the “shunto” talks between management and unions - announced by blue chips in industries like cars and electronics - set the tone for wage hikes across the nation, which will affect strength of consumer spending and inflation.

A Reuters Corporate Survey last month found a slim majority - 51 percent of firms polled - saw wages rising around 1.5-2 percent this year, versus last year’s 2.26 percent average across all Japanese industries.

Some analysts expect wage growth to slow further from the 17-year peak of 2.38 seen in 2015 to around 2.15 percent this year, despite hefty cash piles at Jap-anese corporations.

The bulk of wage hikes - about 1.8 percent - comes auto-matically under Japan’s sen-iority-based employment system. Anything beyond that is a hike in “base pay.”

The reform also includes “equal pay for equal work” aimed at narrowing the pay gap between full-time employees and contract workers or part-timers, and raising the retirement age to cope with the ageing population.

Germany’s Finance Minister Olaf Sholz (right) and Dutch Finance Minister Wopke Hoekstra speak together ahead of an economic and financial affairs Council (Ecofin) at the European Council headquarters in Brussels, yesterday.

Optimism among small companies in US improvesBLOOMBERG WASHINGTON

Optimism among small companies in the US improved in February, snapping a five-month losing streak that was the longest in two decades on brighter views of future condi-tions.

The National Federation of Independent Business optimism index rose to 101.7 from a two-year low of 101.2, according to a report yes-terday. Five of 10 index com-ponents improved, including views about the current envi-ronment for expansion and capital spending plans.

The measure is showing signs of stabilisation following the government shutdown, and remains at a historically elevated level despite cooling from a record 108.8 in August.”Now that the

government is funded, owners should be getting back to business with the rebound in consumer sentiment,” survey authors William Dunkelberg and Holly Wade said in the report. “Earnings trends took a hit as a million laid off workers and others affected by the shutdown cut back on spending.”

While some indicators point to a softer start to this year, including Friday’s jobs report showing February pay-rolls growth was the weakest in more than a year, con-sumers remain upbeat amid a resurgent stock market and steady job gains. Americans are the most confident about current conditions in 18 years, Conference Board surveys show, and the Bloomberg Consumer Comfort gauge is at the highest level since late 2000.

S Africa considers financial optionsto help Zimbabwe revive economyREUTERS HARARE

South African President Cyril Ramaphosa said yesterday his country was ready to help Zimbabwe revive its economy, but within its means, while the two neighbours consider options that could see Harare receiving some financial assistance.

A dearth of US dollars in Zimbabwe has fanned shortages of fuel, drugs and food, choking an economy yet to recover from the disastrous rule of Robert Mugabe, who was removed in a coup in 2017.

South Africa said in January that it had turned down a request in December from its southern African neighbour for a $1.2bn loan.

But in a joint communique

issued after a meeting between Rampahosa and Zimbabwe’s president Emmerson Mnan-gagwa and officials, the two countries said they were looking at increasing a standing credit facility between central banks of the two nations.

Under the facility, Zim-babwe can access 100m rand ($7 m) from South Africa’s central bank.

“Other financing options beyond this are also being explored, for example a facility from South African private banks to the Zimbabwean private sector and guaranteed by the South African government with an appropriate counter-guar-antee from the Zimbabwean government,” the communique read.

Ramaphosa had earlier told the meeting that Zimbabwe,

which also faces a severe drought this year, deserved support from the rest of the world to help reboot its economy.

He repeated his previous call for sanctions against Zim-babwe to be lifted.

Zimbabwe says US sanc-tions, which were extended by another year by President Donald Trump last week, throttle its ability to access funding from lenders like the International Monetary Fund and World Bank and raise its political risk profile.

“South Africa, Mr President, stands ready to render support to Zimbabwe within our means in your quest for economic renewal,” Ramaphosa said, without giving details on whether this would entail financial help.

The visitors look at scale models during the MIPIM international real estate show for professionals yesterday, at the Palais des Festivals in Cannes, southeastern France.

Brexit deal legal advice sends pound tumblingAFP LONDON

The pound tumbled yesterday after the UK government’s top legal advisor cast doubt on Prime Minister Theresa May’s last-gasp changes to her Brexit deal, hours before a vital vote.

Sterling, which had been rising after May secured revi-sions to the Brexit withdrawal agreement, hit reverse after legal advice from Attorney General Geoffrey Cox.

Cox said last-minute new agreements “reduce the risk” of

Britain being “indefinitely and involuntarily” held in the so-called Irish border backstop.

However, he also warned that “the legal risk remains unchanged” that Britain would have no legal means of ending the controversial backstop without the European Union’s agreement.

In reaction, the pound slid to $1.3025 from $1.3143 just before Cox published his advice. The euro jumped to 86.40 pence from 85.75 pence.

Overnight, following news of May’s hard-won EU

concessions, sterling had struck a three-week peak at $1.3289, while the euro leapt to 84.76 pence per euro -- a level last seen in May 2017.

“Sterling took a nose dive on the back of the Cox statement,” said ThinkMarkets analyst Naeem Aslam (pictured).

“It was his opinion which matters the most, now that he has made it clear that the recent deal has no weight, the door is wide open for the sterling to move lower.”

European stock markets

mostly sank in early afternoon deals. London was however buoyed by the weaker pound

ahead of yesterday’s decisive parliamentary vote at 7:00pm (1900 GMT).

“Cox’s opinion casts doubts on whether a sufficient number of MPs will see sufficient change to back May’s deal tonight. The pound has duly plunged,” Rabobank analyst Jane Foley told AFP.

However, she sounded a note of caution, noting that the pound remains the best per-forming G10 currency so far this year.

“Even if May’s deal is not passed today, the market

consensus remains of the view that a hard Brexit will be avoided and this view continues to provide underlying support for the pound.”

A favourable vote would clear the way for Britain to leave the European Union on March 29 -- nearly three years after Britain backed withdrawal from the bloc in a referendum.

Failure could potentially leave the country crashing out with no deal, sparking shock-waves through global markets and possible question marks over May’s leadership.

US trade chief says addressing structural issues in China talks ‘with precision’

REUTERS WASHINGTON

The United States is addressing structural intel-lectual property issues “with precision” in trade negotia-tions with China, US Trade Representative Robert Light-hizer said yesterday but declined to say whether Washington will require evidence first before lifting tariffs.

Speaking at a Senate Finance Committee hearing, Lighthizer said President Donald Trump will not agree to a deal with China unless it is enforceable, and added that an agreement with Beijing will open up a lot of agricultural sales for US farmers.

US sees taxes on web giants ‘discriminatory’ REUTERS PARIS

The United States thinks a French plan for a tax specifi-cally targeting digital companies would be discrimi-natory against its businesses, a senior US Treasury official said yesterday.

France and Britain as well as Italy and Spain are pushing ahead with plans for such taxes at the national level after EU countries failed to reach an agreement for the bloc as a whole.

Countries outside the EU such as Australia are planning similar taxes in the absence of a broader reform of inter-national tax rules to account for the rise of companies such as Apple, Google and Facebook.

Chip Harter, the US Treas-ury’s top international tax official, said such taxes were “ill conceived” and it was better to pursue broader international tax reform at the Organisation for Economic Co-operation & Development (OECD).

“The challenges facing the international tax system are just far broader than how to tax social media and search engines,” Harter told journalists in Paris before talks at the OECD this week.

Digital giants can book profits in countries with the lowest taxes, no matter where the customer is, which some countries say is unfair.

“The United States opposes any digital services tax pro-posals whether they be French or UK,” Harter said.

“What we have seen of the most recent French proposals, we view them as highly dis-criminatory against US busi-nesses ... Various parts of our government are studying whether that discriminatory impact would give us rights under trade agreements, WTO, treaties,” he added.


BLOOMBERG HOUSTON

Royal Dutch Shell Plc plans to become the world’s biggest power company within 15 years, a move that suggests it sees climate change as a bigger threat to its business than electricity’s historically weak returns.

The world’s No 2 oil explorer by market value is spending as much as $2bn a year on its new-energies division, mainly to grow in a power sector it sees delivering 8 to 12 percent annual returns, according to Maarten Wetselaar, director of Shell’s integrated gas and new-energies unit.

“We believe we can be the largest electricity power company in the world in the early 2030s,” Wetselaar said in an interview with Bloomberg Television on Monday. “We are not interested in the power business because we like what we saw in the last 20 years; we are interested because we think we like what we see in the next 20 years.”

Investors are putting pressure on companies to protect their business from a shift to

lower-carbon fuels, driven by new laws and consumer choices. That pressure is especially acute in Europe, where Norway’s Finance Ministry last week instructed its $1 trillion sovereign wealth fund to divest some oil and gas com-panies to shield it from a “per-manent decline” in crude prices.

The region’s biggest oil majors, such as Shell, BP Plc and Total SA, were spared in the decision, partly because they’re bolstering their investments in renewables. Besides Shell’s move toward power, BP has purchased the UK’s biggest car-charging company, while Total has bought electricity provider Direct Energie. They’ve also invested in solar and wind-power production. For Shell, the electricity business is still in an experimental phase. Last month, the vice president of its new-energies unit, Mark Gainsborough, declined to estimate when it’ll achieve higher returns, but indi-cated i t wi l l introduce new combinations of power

products that are more profitable than those from a traditional utility.

“Being smarter with its mole-cules across the value chain is important,” said Christyan Malek (pictured), head of European, Middle East and African oil and gas research at JPMorgan Chase & Co. “But generating a return as good as its oil and gas business will be the key challenge.”

For BloombergNEF’s view of Shell’s evolving portfolio, click here

Shell’s acquisitions in power so far include

UK electricity pro-vider First Utility, c a r - c h a r g i n g operator New-Motion and a stake in U.S. solar company Silicon Ranch Corp. It has also

announced

it’s bidding for Dutch utility Eneco, which provides low-carbon power to industrial users and offers apps and other technology to manage electricity consumption. Even with those purchases, achieving its targets around power will probably require a “major overhaul” of its investment priorities, according to Will Hares, an energy analyst at Bloomberg Intelligence. Half of Shell’s capital is allocated to its upstream business, which finds and pumps oil and gas, with only about 5 percent dedicated to new energies.

The company remains cautious about making big spending changes, according to Wetselaar, who said “we want to prove to our-selves that the hypothesis works before we scale it beyond our current commitments.”

Read more: Can Oil Reinvent Itself? Shell’s Power Push Divides Investors European majors are increasingly setting themselves

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Note: Programme is subject to change without prior notice.

CROSSWORD

Carol Danvers becomes one of the universe’s most powerful heroes when Earth is caught in the middle of a galactic war between two alien races.

CAPTAIN MARVEL

Captain Marvel (2D/Action) 11:00am, 1;30, 4:00, 6:30, 9:00 & 11:30pm; Boomerang (2D/Tamil) 10:45pm, 4:00 & 9:15pm; Mr & Ms Rowdy (2D/Malayalam) 12:45, 6:15 & 11:45pm; Badla (2D/Hindi) 1:30, 6:45pm & 12:00 midnight.Sathru (2D/Tamil) 3:45 & 9;15pm

AL KHOR

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ASIAN TOWN

Alita: The Battle Angel (2D/Action) 10:50, 1:20, 3:25 & 10:25pmAlone/Together (2D/Tagalog) 2:15, 5:55 & 8:10pmArctic (2D/Thriller) 3:10pm & 0:55amCaptain Marvel (2D/Action) 10:00am, 11:10am, 12:30, 1;40, 3:00, 3:50, 4:10, 4:30, 5:00, 6:20, 6:40, 7:00, 8:00, 8:50, 9:10, 10:30, 9:30, 11:20, 11:40pm & 12:00midnightCaptain Marvel (3D/Action) 10:30, 11:50, 1:00, 2:20, 3:30, 4:50, 6:00, 7;20, 8:30, 9:50, 11:00pm, 12:20am & 2:00amEscape Room 10:45 Logo Movie 2: The Second Part 10:55am, 12:55 & 1:10pm

Mr & Ms Rowdy (2D/Malayalam) 5:30, 8:30, 11:00pm;Badla (2D/Hindi) 5:45, 8:00, 10:30pm;Sathru (2D/Tamil) 6:00 & 11:00pm; Kumbalangi Nights (2D/Malayalam) 6:00pm; Kodathisamaksham Balan Vakkeel (2D/Malayalam) 8:15pm; Bell Bottom (2D/Kannada) 8:30pm; Thadam (2D/Tamil) 11:00pm

Captain Marvel (2D/Action) 2:30, 4:45, 5:00, 7:00, 9:15 & 11:30pm; Badla (2D/Hindi) 7:00, 9:15 & 11:30pmThirumanam (2D/Tamil) 2:15pm; Mr & Ms Rowdy (2D/Malayalam) 2:00pm Bell Bottom (2D/Kannada) 4:45pm;Arctic (2D/Thriller) 9:45pm;Boomerang (2D/Tamil) 7:15pm;Gully Boy (Hindi) 11:30pm

Captain Marvel (2D/Action) 2:30, 4:45, 7:00, 9:15 & 11:30pm;Badla (2D/Hindi) 2:00, 6:45 & 9:15pm; Bell Bottom (2D/Kannada) 2:15 & 6:45pm;Sathru (2D/Tamil) 4:30 & 11:30pm;Total Dhamaal (2D/Hindi) 4:15pm;June(2D/Malayalam) 9:00pm; Mr & Ms Rowdy (2D/Malayalam) 11:30pm

Arctic (2D/Thriller) 3:00, 6:00 & 11:00pmCaptain Marvel (2D/Action) 10:30am, 11:00, 1:00, 1:30, 3:30, 4:00, 6:00, 6:30, 7:40, 8:45, 9:00, 10:30, 11:30 & 11:45pm Luka Chuppi (2D/Hindi) 10:30, 1:10, 8;10pmMr & Ms Rowdy (2D/Malayalam) 10:30am, 1:30, 4:30, 7:30 & 10:30pmToys 1:10, 3:20 & 11:00pm

MALL

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Total Dhamaal (2D/Hindi) 5:15 & 11:30pmBadla (2D/Hindi) 4:45, 7:00 & 9:15pm Arctic (2D/Thriller) 7:30pm; Look Away (2D/Thriller) 9:30pm.

ROYAL PLAZA

Blackstone-backed firm seeks $682m in India’s first REITBLOOMBERG HONG KONG

Embassy Office Parks REIT, backed by Black-stone Group LP, plans to raise about Rs47.5bn ($682m) in India’s first real estate investment trust listing.

The REIT, which includes Embassy Group properties, will start taking orders from anchor investors on Friday before moving on to a public offering on March 18 through March 20, according to terms for the deal obtained by Bloomberg. Strategic investors agreed to sub-scribe to Rs8.76bn of units in the deal, the terms show.

A successful listing of the REIT, expected by April 3 according to the terms, will poten-tially open a fund-raising avenue for India’s

cash-starved property companies. The nation’s real estate developers are struggling with sluggish sales and price declines that followed a 2016 crackdown on cash as well as new con-sumer protection and tax policies. A cash crunch at shadow lenders following defaults at Infrastructure Leasing & Financial Services Ltd. also curtailed availability of capital to developers.

“Considering the rough patch that the real estate sector is going through, there is a lot riding on this sale,” Sandeep Upadhyay, managing director at Centrum Capital Ltd. “If there is enough demand for this issuance we will see more REITS tapping the market over next one year.”

The trust’s portfolio comprises about 33 million square feet of office space across four Indian cities, Bengaluru, Pune, Mumbai and

Noida, a regulatory filing shows. Its Express Towers property, located in Mumbai’s central business district, counts Wells Fargo & Co, Warburg Pincus as well as Blackstone as tenants.

Morgan Stanley, Kotak Mahindra Bank Ltd., JPMorgan Chase & Co and Bank of America Corp are global coordinators for the offering, a filing showed.

REITs have been in the making for several years in India, as the regulator kept tweaking rules to make it more attractive to developers and investors. Retail investors may still remain wary of these products after the much-hyped infrastructure investment trusts failed to meet market expectations. IRB InvIT Fund has fallen more than 16 percent while India Grid Trust has gained just 1.1 percent since their trading debut in 2017.


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REGENCY PEARL 2 (THE PEARL): Fully furnished 1 B�� .�� !"�#!$%� �&#'($(#)*� ) �� +�� ,�� //��C��+��,��!"�#!$%�)#!0(�#)*�12��D��+�� ,� �� 3"!� &"!#� ('3"!&�$("'��4#�)#��44*�567829�8;12�>>21��::<7�<171��>>;;��=17��::<:�;2�=��#&�(4*��+��?��REGENCY PEARL 1 (THE PEARL): Fully furnished 1 �� .��!"�#!$%��&#'($(#)*�) ��+��,��//��C��+��,��!"�#!$%�)#!0(�#)*�12� �� D��+� �� ,� �� 3"!� &"!#�('3"!&�$("'� �4#�)#� ��44*� 567829� 8;12� >>21�� ::<8� <�7=��::<7� <171� �� :::2� �>;<� �� ::<:� ;2�=� �� #&�(4*� � ��+��?��REGENCY PEARL 1 (THE PEARL): Fully furnished 1 �� .��!"�#!$%��&#'($(#)*�) ��+��,��//��C��+��,��!"�#!$%�)#!0(�#)*�12� �� D��+� �� ,� �� 3"!� &"!#�('3"!&�$("'� �4#�)#� ��44*� 567829� 8;12� >>21�� ::<8� <�7=��::<7� <171� �� :::2� �>;<� �� :::1� >�2;� �� #&�(4*� � ��+��?��REGENCY PEARL 2 (THE PEARL): Fully furnished 1 B�� .�� !"�#!$%� �&#'($(#)*� ) �� +�� ,�� //��C��+��,��!"�#!$%�)#!0(�#)*�12��D��+�� ,� �� 3"!� &"!#� ('3"!&�$("'��4#�)#��44*�567829�8;12�>>21��::<7�<171��>>;;��=17��::<:�;2�=��#&�(4*��+��?��REGENCY PEARL 1 (THE PEARL): Fully furnished �� 6� �/G�� .�� !"�#!$%� �&#'($(#)*�) ��+��,��//��C��+��,��!"�#!$%�)#!0(�#)*� 12� �� ,�� 3"!� &"!#� ('3"!&�$("'� ��44*� 567829� ::<8� <�7=� �� ::<7�<171� �� >>;;� 1=72�� >>;;� 1=:>� �� #&�(4*� ��+��?�� REGENCY PEARL 2 (THE PEARL):� 3��,� /�� 1�� .�� !"�#!$%� �&#'($(#)*� ) �� +��,��//��C��+��,��!"�#!$%�)#!0(�#)*�12��,��3"!�&"!#�('3"!&�$("'��44*�567829�8;12�>>21��::<7�<171��>>;;�1=72��>>;;�1=:>��#&�(4*��+��?�� UMM BAB TOWER (WESTBAY):� 3��,� /�� 1��1�&��.�� !"�#!$%� �&#'($(#)*�(�� +��/��,��H��++��,��,��C��+��,�� +�� 3"!� &"!#� ('3"!&�$("'��4#�)#� ��44*� 567829� ==172=1�� :::1� >�2;� �� ::<7� ;2>1� ��#&�(4*� ��,��?�� VIVA BAHRIYA TOWER 4 (THE PEARL-QATAR): )��3��"��$ ��$��B��+�� "��&��3��3��-��)+��!��!"�#!$%��&#'($(#)*�)��I,��J��.��,��K��B��3"!�&"!#�('3"!&�$("'��4#�)#��44*�6782�::<��<81<��#&�(4*��!?�� UMM BAB TOWER (WESTBAY):� 3��,� /�� =�� 6� ��.� �� L��*� =� &��.�� !"�#!$%��&#'($(#)*� (�� +�� /��,��H��++��,�� ,��C��+��,��+��3"!�&"!#� ('3"!&�$("'� �4#�)#� ��44*� 567829� ==172=1�� >>;;�2>=>� �� :::�� 18=2� �::<7� <171� �� #&�(4*� ��,��?��

VILLA DESTE 2 (AL WAAB):�)��/��=��*�&��.�� !"�#!$%� �&#'($(#)*�) ��+��,��!"�#!$%�)#!0(�#)*�12�� ,�� 3"!� &"!#� ('3"!&�$("'� �4#�)#��44*�567829�==:1�8�=��:::��18=2��::<7�<171��>>;;��=17��#&�(4*�� ?�� VILLA DESTE 2 (AL WAAB):�)��/��=��*�&��.�� !"�#!$%� �&#'($(#)*�) ��+��,��!"�#!$%�)#!0(�#)*�12�� ,�� 3"!� &"!#� ('3"!&�$("'� ��44*�567829�==:1�8�=��:::��18=2��::<7�<171��>>;;��=17��::<7�;1;8��#&�(4*�� ?�� BEVERLY HILLS GARDEN 10 (Al WAAB):� )��/�� 2� �� *� =� �� ,�� +�� .�� !"�#!$%��&#'($(#)*� ) �� +�� B�� .�� +��,� ��I,�� !"�#!$%� )#!0(�#)*� 12� �� ,� ��3"!�&"!#�('3"!&�$("'��4#�)#��44*�567829�==:1��8�=��>>;;�1=:>��::<:�;2�=��:::2��>;<��::<7�;1;8��#&�(4*�� ?�� AIN KHALID GATE:� 3��,� /�� 2� �� 1� &��.�� .�� ,� �� 1� �� .��,�� +�� +�� !"�#!$%� �&#'($(#)*� ) �� @�� I,�� @�� H��H��+��,��+��,�� !"�#!$%�)#!0(�#)*�12��,��3"!� &"!#� ('3"!&�$("'��4#�)#� ��44*� 567829� ::>�� 871>� ��::<:�:18�� >>;;�1=:>� � �� ::<7�;2>1� �� #&�(4*� ��?��

AIN KHALID GATE:�3��,�/��1�� 1� �� 5�+�� 9� �� .��!"�#!$%� �&#'($(#)*� ) �� @��I,��@��H��H��+��,��+��,�� !"�#!$%�)#!0(�#)*�12� �� ,� �� 3"!� &"!#� ('3"!&�$("'��4#�)#��44*�567829�::>��871>��::<:�:18��::<7�;2>1��#&�(4*��?�� BEVERLY HILLS GARDEN 2 (AL WAAB):� )��/��2��*�1�&��.��B�� /��,��+�� ,��.�� +�� ,��!"�#!$%� �&#'($(#)*� ) �� +�� ,�� .��+��,��!"�#!$%�)#!0(�#)*� 12� �� ,� �� 3"!� &"!#�('3"!&�$("'��4#�)#��44*�567829�==:1��8�=��>>;;�1=:>��::<:�;2�=��:::2��>;<��>>;;2>=>��#&�(4*�� ?�� BEVERLY HILLS GARDEN 1 (AL WAAB):� )��/��2��*�1�&��.��B�� /��,��+�� ,��.�� +�� ,��!"�#!$%� �&#'($(#)*� ) �� +�� ,�� .��+��,��!"�#!$%�)#!0(�#)*� 12� �� ,� �� 3"!� &"!#�('3"!&�$("'��4#�)#��44*�567829�==:1��8�=��>>;;�1=:>��::<:�;2�=��:::2��>;<��>>;;2>=>��#&�(4*�� ?�� BEVERLY HILLS GARDEN 13 (AL WAAB):� )��/��2��*�1�&��.��B�� /��,�� .�� /��,� �H��++��!"�#!$%��&#'($(#)*�) ��+��/��,��H��++��,��/��/��!"�#!$%�)#!0(�#)*�12��,��3"!� &"!#� ('3"!&�$("'��4#�)#��44*� 567829� ==:>�8�:>� ��==2=�=�><��::<:�;2�=��:::2��>;<��>>;;2>=>��::<7�;1;8��#&�(4*��?�� Q BEL AIR COMPOUND (LAQTAH):�)��/��:�B��*�1�&��.�� !"�#!$%��&#'($(#)*� ) �� +�� ,�� +��+�� 3"!� &"!#� ('3"!&�$("'� �4#�)#� ��44*�567829� ==17� 2=1�� >>;;� 1=:>� �� :::1� >�2;� �� ::<7� ;1;8� ��#&�(4*�� ?��Q BEL AIR COMPOUND (LAQTAH):�)��/��:�B��*�1�&��.�� !"�#!$%��&#'($(#)*� ) �� +�� ,�� +��+�� 3"!� &"!#� ('3"!&�$("'� �4#�)#� ��44*�567829�==17�2=1��>>;;�1=:>��:::1�>�2;��#&�(4*�� ?��

AIN KHALID COMPOUND (AIN KHALID): 3��,� /�� 1� �� *� 1� �� !"�#!$%� �&#'($(#)*� ) �� +��,�� +�� .�� +��,� �� 3"!� &"!#�('3"!&�$("'��4#�)#��44*�567829�==;7�>2<<��:::1�>�2;��#&�(4*��?��AIN KHALID COMPOUND (AIN KHALID): 3��,� /�� 1� �� *� 1� �� !"�#!$%� �&#'($(#)*� ) �� +��,�� +�� .�� +��,� �� 3"!� &"!#�('3"!&�$("'��4#�)#��44*�567829�==;7�>2<<��:::1�>�2;��#&�(4*��?��

REGENCY RESIDENCE AL SADD 1 (AL SADD): 3��,�/��*�&��.�� !"�#!$%��&#'($(#)*�) ��I,��)�� @��)�� !"�#!$%�)#!0(�#)*�12�� ,� �� 3"!� &"!#� ('3"!&�$("'��4#�)#� ��44*� 567829� ==�;� 1>2>� � �� >>;;� �=17� �� ==77� 21>>� ��>>;;2>=>��#&�(4*��?�� MESAIMEER/BARWA CITY:� M�/�� =� ��*� &��.�� !"�#!$%�)#!0(�#)*� 12�D�� ,�� 3"!�&"!#� ('3"!&�$("'� �4#�)#� ��44*� 567829� ==17� 21>>� �::<:�;2�=��#&�(4*�� ?�� REGENCY RESIDENCE AL SADD 3 (AL SADD): 3��,�/��=N��*�&��.�� !"�#!$%� �&#'($(#)*� 3��,� #H��++�� I,�� !"�#!$%�)#!0(�#)*� 12� �� ,� �� 3"!� &"!#�('3"!&�$("'��4#�)#��44*�567829�==�;�1>2>��::<:�;2�=��:::2��>;<��>>;;�1=72��>>;;2>=>��#&�(4*��?�� REGENCY RESIDENCE ALSADD 3 (AL SADD): 3��,�/��=��*�&��.�� !"�#!$%�)#!0(�#)*� 12�D��,��3"!�&"!#�('3"!&�$("'��4#�)#� ��44*� 567829� ==�;� 1>2>� �>>;;� 1=:>� �� :::1� >�2;� ��>>;;2>=>��#&�(4*��?��REGENCY RESIDENCE AL SADD 10 (AL SADD): 3��,�/��=��*�&��.��

�� 3"!� &"!#� ('3"!&�$("'��4#�)#� ��44*� 567829� ==�;� 1>2>� �>>;;� 1=:>� �� :::1� >�2;� � ��#&�(4*� ��?�� ?��REGENCY RESIDENCE AL SADD 12 (AL SADD): 3��,�/��*�� )+��!"�#!$%��&#'($(#)*�3��,��H��++��,�� !"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#�('3"!&�$("'��4#�)#��44*�567829�==�;�1>2>��>>;;��=17��::<:�;2�=��>>;;2>=>��#&�(4*��?��REGENCY RESIDENCE AL SADD 12 (AL SADD): 3��,�/��*�� )+�� !"�#!$%� �&#'($(#)*� 3��,� �H��++��,�� !"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#� ('3"!&�$("'��4#�)#��44*� 567829� ==�;�1>2>� ��>>;;��=17��::<:�;2�=��>>;;2>=>��#&�(4*��?��REGENCY RESIDENCE AL SADD 13 (AL SADD): 3��,�/��*�� !"�#!$%� )#!0(�#)*� 12� ��,� �� 3"!� &"!#� ('3"!&�$("'� �4#�)#��44*�567829�==�;�1>2>��>>;;�1=72��::<7;1;8��:::1�>�2;��>>;;2>=>��#&�(4*��?��REGENCY RESIDENCE MUSHEIREB 1 (MUSHEIREB): 3��,� /�� !"�#!$%� �&#'($(#)*�(��) ��I,��)��@��B��!"�#!$%�)#!0(�#)*�12��,��3"!� &"!#� ('3"!&�$("'� �4#�)#� ��44*� 567829� ::8;� �812��::7=� >8:<� �� ==77� 21>>� �� #&�(4*� ��?��REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): 3��,�/�� +��.��!"�#!$%��&#'($(#)*�) ��+��I,�� !"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#� ('3"!&�$("'��4#�)#��44*� 567829� ==:>�8�:>� ��=;=7�:1<8��>>;;�2>=>��:::��18=2��#&�(4*��?��REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): )��/��1�� +��.��!"�#!$%��&#'($(#)*�) ��+��I,�� !"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#� ('3"!&�$("'��4#�)#��44*� 567829� ==:>�8�:>� ��=;=7�:1<8��::<7�<171��>>;;��=17��#&�(4*��?��REGENCY RESIDENCE AIRPORT 2 (DOHA AREA): )�� /�� 1� �� +��!"�#!$%��&#'($(#)*�) ��+�� !"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#� ('3"!&�$("'��4#�)#��44*� 567829� ==:>�8�:>� ��=;=7�:1<8��::<:�;2�=��==2=�=�><��#&�(4*��?��BIN DIRHAM 1 (MANSOURA):� M�/�� 1��*��!"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#� ('3"!&�$("'� �4#�)#� ��44*� 567829� � =;=7� :1<8� ��==:>�8�:>��>>;;�1=72��>>;;�1=:>��#&�(4*��?��BIN DIRHAM 5 (MANSOURA):� M�/�� 1��*��!"�#!$%� )#!0(�#)*� 12� �� ,� �� 3"!�&"!#� ('3"!&�$("'��44*� 567829�=;=7�:1<8� ��==:>�8�:>� ��:::1�>�2;��#&�(4*��?��18 FLATS (AL WAKRA):� �<� M�/�� +�� /�� +�� 1� /�� 12� �� 5�L�� 9� 3"!�&"!#� ('3"!&�$("'��44*� 567829�=;=7�:1<8� ��==:>�8�:>� ��==2=�=�><��#&�(4*��?��DOHA GARDENS (AL WAAB):� 3��,� /�� =�� *� &�� B�� !"�#!$%�)#!0(�#)*�12��,��3"!�&"!#�('3"!&�$("'��4#�)#��44*�567829�==�;� 1>2>� �� >>;;� 1=:>� �� ::<:� ;2�=� �� :::2� �>;<� �� #&�(4*��?��

BRAND NEW RESIDENTIAL BUILDING (WAKRA):� M�/�� :� M�� /� 1� �� *�� 3"!� &"!#�('3"!&�$("'� �4#�)#� ��44*� 567829� =;=7� :1<8� � �� #&�(4*��?��

AL ASMAKH TOWER (WESTBAY):� B�� '� �"/G��$� �� *��/��+�� +��,�� 3"!� &"!#� ('3"!&�$("'� �4#�)#� ��44*� 567829�==;=88=<��#&�(4*��,��?�� REGENCY BUSINESS CENTER 3 (GRAND HAMAD STREET): ��"/G��)+�� +��,��,� ��$0�� )+�� G�� /��,� �,�� 3"!� &"!#� ('3"!&�$("'��4#�)#� ��44*� 567829� =;=7� :1<8� �� ==:>� 8�:>� �� :::2� �>;<� ��#&�(4*��?�� OFFICE COMMERCIAL BUILDING:��"/G��)+�� B��I��6�1�3��2��)��3"!�&"!#�('3"!&�$("'��4#�)#��44*� 567829�::<7�;1;8��222<�:�� 2;2��;81:��#&�(4*� ��?��

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