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BUSINESSBUSINESSWednesday 12 April 2017

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Goldman sees Asia stock boost

from reforms

QC to attend Islamic Chamber meet

Dow & Brent before going to press

QNB net profit rises to QR3.2bn in Q1The Peninsula

Delivering consist-ently a high-profit g r o w t h , Q N B Group’s net profit for the first quarter

of 2017 rose to QR3.2bn (($0.9bn), up by 12 percent from a year ago.

The bank’s total assets increased by 35 percent from March 2016 to reach QR743bn ($204bn). The surge in assets was driven by a growth rate of 33 percent in loans and advances to reach QR536bn ($147bn). QNB Group was successful

in attracting new customer deposits to comply with the cap on loans to deposit ratio of 100 percent set by QCB, which is effective from the end of 2017. These deposit mobilisation efforts resulted in increased cus-tomer funding by 34 percent to reach QR541bn ($149bn) from March 2016. This led to the Group’s loan to deposit ratio reaching 99 percent.

The Group’s prudent cost control policy and strong reve-nue generating capability allowed it to maintain an effi-ciency ratio (cost to income ratio) of 28.9 percent, which is

considered one of the best ratios among financial institutions in the region.

QNB Group was able to maintain the ratio of non-per-forming loans to gross loans at 1.8 percent and coverage ratio at 114 percent as at 31 March 2017, a level considered one of the best amongst financial institutions in the MEA region, reflecting the high quality of the Group’s loan book and the effective manage-ment of credit risk.

Total Equity increased by 17 percent from March 2016 to reach QR71bn ($20bn) as at 31 March 2017. Earnings per Share

reached QR3.5 ($1.0), compared to QR3.1 ($0.9) in March 2016.

Capital Adequacy Ratio (CAR) calculated as per the Qatar Cen-tral Bank and Basel III requirements stood at 15.7 per-cent at the end of the first quarter, higher than the regula-tory minimum requirements of the Qatar Central Bank and Basel Committee. The Group is keen to maintain a strong capitalisa-tion in order to support future strategic plans.

In March 2017, QNB launched its operations in the Saudi capi-tal, Riyadh. This branch is a significant milestone in QNB

Group’s strategy of international expansion.

Based on the Group’s contin-uous stellar performance and its diversified international pres-ence, QNB is now the most valuable banking brand in the MEA region, with the value of its brand increased to $3.8bn to rise to the 60th place globally, in addition to attaining the highest rating of AA+ in brand strength.

QNB Group is present, through its subsidiaries and asso-ciate companies, in more than 30 countries and 3 continents providing a comprehensive range of products and services.

Qatar's financial risks moderate: IMF documentSatish Kanady The Peninsula

With the banks’ balance sheets remaining strong, Qatar’s finan-

cial risks are moderate. However, as the macro-finan-cial linkages can amplify the effects of oil price movements, the risks need to be carefully monitored, International Mon-etary Fund (IMF) advised Qatar in i ts latest policy recommendations.

The IMF document noted that the Qatar Central Bank (QCB) is strengthening its financial stability risks moni-toring by developing an early warning system (EWS). QCB has already constructed a risk index, namely the Banking Sta-bility Index (BSI), which includes five risk factors in the banking sector which together with stress testing monitor banking sector risks, including liquidity risks. EWS will iden-tify the key vulnerabilities going forward. The Fund said a weaker government spend-ing is tightening the banking sector liquidity, and moderate credit growth which could pos-sibly impact the quality of asset prices thereby generating weaker bank balance sheets and negative wealth effects.

“ The buildup of liquidity risk related to short-term for-eign borrowings channeled into funding medium and long-term domestic lending needs to be carefully monitored. QCB has managed liquidity as reflected by low variability in interbank rates. The development of the domestic sovereign debt

market, and in particular the issuance of T-bills, has helped QCB to manage liquidity. How-ever, developing a liquidity forecast framework would fur-ther enhance QCB’s ability to manage the timing and size of liquidity management opera-tions”, noted IMF document.

Qatar has made significant efforts to develop its domestic government securities market but further progress is still needed. An independent debt office, the Office for Manage-ment of Credit Policies and Debt has been established. However, a transparent debt management strategy is still not in place.

Currently, little information is publicly available beyond the basic results for previous T-bills auctions. Disclosures are key to enhance good gov-ernance, transparency, and accountability. In addition, with regard to debt strategy, disclo-sure of debt management goals and instruments strengthens the strategy’s effectiveness and credibility. Transparency and simplicity also help reduce uncertainty among investors and lower transactions cost.

It is best practice to publish an annual report in which the results of the issuances are pre-sented in light of the stated strategies and targets.

The lengthening of the maturity profile of debt issuance will also help the emergence of a risk-free yield curve across the term structure which would serve as a reference for pricing other financial instruments.

Saudi starts marketing dual-tranche sukukLondon Reuters

Saudi Arabia has begun marketing its debut sukuk about 20bp back

of its conventional curve.The sovereign has opened

books on a five-year tranche at 115bp area over mid-swaps. It also marketing a 10-year tranche at plus 155bp area.

The kingdom's October 2021 conventional notes are trading at a Z-spread of 93bp, according to Tradeweb. Octo-ber 2026s are at plus 136bp.

"I think there is very little premium here. Very likely to be tightened, which would bring the bond very close to the existing five-year and 10-year instruments and therefore offering little pick-up for a one-year extension over the existing 2021 and 2026 non-sukuk Eurobonds," said Koon Chow (pictured), FX and macro strategist at UBP.

Another investor, however, said the starting point was attractive. "It looks reasonably good value, probably 15-20bp cheap to the curve," he said. A banker away from the deal suggested ahead of IPTs that a 20-25bp pick-up would be a fair starting point for the sukuk offerings. He said the final level would depend on the sover-eign's size targets.

Efficient ratio

QNB Group's prudent cost control policy and revenue generating capability helped maintain an efficient ratio of 28.9%.

QNB Group was able to maintain the ratio of non-performing loans to gross loans at 1.8 percent.

$53.25 $53.25 +0.17+0.17

BRENT

7,365.50 +16.56 PTS

0.23%FTSE100

10,411.77-73.27 PTS

0.70%

20,642.70-15.32 PTS

0.07%

QE DOW

22 WEDNESDAY 12 APRIL 2017BUSINESS

QNB Group Net Profit up by 12% to QR3.2 billion for the Period Ended 31 March 2017

Financial HighlightsCall +974 4425 2444 or visit qnb.com

Total Assets increased by 35% to QR743 billion��

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the three months ended 31 March 2017.

Key indicators of the financial results for the three months ended 31 March 2017 are shown below.

Achieve Sustainable Profitable Growth

Income Statement (QR billion) March - 2017 March - 2016 GrowthNet Interest Income 4.2 3.3 27%Net Fee & Commission Income 0.9 0.5 60%Net Gain on Foreign Exchange 0.2 0.2 10%Operating Income 5.4 4.1 34%Total Expenses 1.6 0.9 70%�� 3.2 2.9 12%

Key Performance Indicators March - 2017 March - 2016Earnings per Share (QR) 3.5 3.1Cost to Income Ratio 28.9% 22.7%

For the three months ended 31 March 2017, Net Profit reached QR3.2 billion, up by 12% compared to previous year. This was mainly driven by operating income, which increased to QR5.4 billion, up by 34% compared to March 2016, demonstrating QNB Group’s success in maintaining growth across the range of revenue sources, despite a turbulent macroeconomic environment and currency volatility experienced in our core markets.

Net interest income increased by 27% to reach QR4.2 billion, with net fee and commission income and net gain from foreign exchange reaching QR0.9 billion and QR0.2 billion, respectively, reflecting success in diversifying sources of income.

The Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of 28.9%, which is considered one of the best ratios among financial institutions in the region.

Maintain Strong Financial StrengthBalance Sheet (QR billion) March - 2017 March - 2016 Growth December - 2016 GrowthTotal Assets 743 550 35% 720 3%Loans and Advances 536 402 33% 520 3%Deposits 541 403 34% 507 7%�� 71 60 17%

Key Performance Indicators March - 2017 March - 2016 December - 2016

Loan to Deposit Ratio 99.0% 99.7% 103%

NPL Ratio 1.8% 1.4% 1.8%

Coverage Ratio 114% 120% 114%

Total assets increased by 35% from March 2016 to reach QR743 billion, setting a benchmark for peer financial institutions. This was driven by a growth rate of 33% in loans and advances to reach QR536 billion.

The Group was able to maintain the ratio of non-performing loans to gross loans at 1.8%, a level considered ��!�� "��#�� $�'��#��*��#��#�� Group’s loan book and the effective management of credit risk. The Group’s conservative policy in regard to provisioning continued with the coverage ratio maintained at 114% as at 31 March 2017.

QNB Group was successful in attracting new customer deposits to comply with the cap on loans to deposit ratio of 100% set by QCB which is effective from the end of 2017. These deposit mobilisation efforts resulted in increased customer funding by 34% to reach QR541 billion from March 2016. This led to the Group’s loan to deposit ratio reaching 99%.

Growing International Presence

QNB Group has received approval for a branch opening license from the Saudi Arabia Monetary Agency (“SAMA”) in 2016. In March 2017, QNB launched its operations in the Saudi capital, Riyadh. This branch is a significant milestone in QNB Group’s strategy of international expansion. The Group will support the various economic development initiatives by offering its broad suite of wholesale and corporate banking products and services. It will also leverage its in-depth expertise in areas such as structured/project finance and transaction banking.

Enhance Shareholder Value

+�� :��"�$ ��;�<�� :�� $ ��;�:�� #��=��Share reached QR3.5, compared to QR3.1 in March 2016.

> =� ��'�� ?>'�@�� =��>H� ��H ��JJJ��"�� U�:�� $ ��;�:*��#�� #�� "�"�"��"�� >�� H �W� ��H ��Committee. The Group is keen to maintain a strong capitalisation in order to support future strategic plans.

Maintains a Strong Credit Profile

QNB Group has maintained its position as one of the strongest rated financial institutions in the ��#��+�� H�X��=Y��#�� =��*��#�� leading position in the financial services sector.

Institution of Choice

��H�X��=��#��#�� #�� Z�� =��#�� evidenced by the receipt of awards including “Best Bank in Qatar 2017” by Global Finance, “Best Bank in Qatar” by Asiamoney, “Most Innovative Bancassurance Product Qatar 2016” by the International Finance Magazine (IFM), “Best Commercial Banking Capabilities in Qatar” by Euromoney as well as many other awards received by the Group.

��[��#�H� ��#�� #��H� ��\ ��

Based on the Group’s continuous stellar performance and its diversified international presence, QNB is now the most valuable banking brand in the MEA region, with the value of its brand increased to USD3.8 billion to rise to the 60th place globally, in addition to attaining the highest rating of AA+ in brand strength.

Enhancements to Compliance Capabilities

On an on-going basis, QNB Group improves its capabilities to comply with statutory and regulatory ��"��"=��"��#��Z�� "�� !�� "�� aspect of achieving the Group’s goals, objectives and expansion strategy. Tailored training programs were also introduced to suite the diverse nature of business and activities of QNB Group in a face-to-face and online basis in order to foster the compliance culture and train all employees periodically on the principles of compliance, Whistle Blowing, Chinese Walls, AML/CFT. The “Lessons Learned” also became a point of focus to Group Compliance in order to support the Executive Management to improve the efficiencies of the Group’s operations and security of its data, information and financial channels considering that the fraud and data breaches cases happening around the world provides landscape for "=��#��!��"��#�� #� ��#�� "�

Ensure Outstanding Talent Pool

QNB continues with its focus on training and development programs to employees at all levels with an opportunity to develop and identify the top talents within the Group.

[��"=��"��# #�"��[��Z�� H*��Z�� Z��which have been undertaken to improve how employees view and operate within QNB Group. Also QNB has undertaken multiple initiatives to strive towards being recognized as an Employer of Choice by both staff and potential candidates.

QNB continues to place high emphasis on recruiting nationals in all countries in which the Group operates, providing them with dedicated training programs to further enhance their capabilities. This has resulted in the Bank having a Qatarization ratio that exceeds 52% in Qatar, the highest among financial institutions in Qatar.

QNB built on the previous successes in its development of Qatari Nationals via targeted deployment to overseas branches and subsidiaries so as to give the future leaders of the bank detailed exposure of the countries/markets that we operate in. In 2017, QNB plans to increase the scope of this program to start having Qatari staff permanently deployed to key countries to not only increase the development of the individual, but also strengthen the service provided to Qatari customers and their businesses overseas.

QNB Group is present, through its subsidiaries and associate companies, in more than 30 countries and three continents providing a comprehensive range of products and services. The total number of staff for the Group is more than 28,000 operating from 1,250 locations and 4,300 ATMs serving more than 21 million customers.

Net Profit (QR billion)

2.12.4

2.72.9

3.2

0

1.0

2.0

3.0

4.0

March 2017

March2016

March2015

March2014

March2013

Total Assets (QR billion)

380

458502

550

743

0

150

300

450

600

750

March2017

March2016

March2015

March2014

March2013

Total Assets up by 35% to reach QR743 billionSubsidiaries & Associates of QNB GroupQNB Group Country % OwnershipQNB Capital Qatar 100%��H�H ��Z_� Switzerland 100%QNB Financial Services Qatar 100%QNB India India 100%QNB Tunisia Tunisia 99.96%QNB Finansbank Turkey 99.88%��H�'`'�`J Egypt 97%QNB Indonesia Indonesia 83%QNB Syria Syria 51%Al-Mansour Investment Bank J� � 51%Bank of Commerce & Development Libya 49%Commercial Bank International UAE 40%��#�H �W��+� ��q�{� �� Jordan 35%Al Jazeera Finance Company Qatar 20%Ecobank Transnational Incorporated Togo 20%

International Presence

23WEDNESDAY 12 APRIL 2017 BUSINESS

J�+��J$�>}�~��[�~�>}�[}`J~'+�~�{J�'�>J'`�[+'+�$��+[�{}��+��+��$}�+�[��J}~��~�~�31�$'�>��2017Independent Auditors’ Report on Review of Interim Condensed Consolidated Financial Statements to the Board of Directors of Qatar National Bank (Q.P.S.C.)

Introduction

We have reviewed the accompanying interim condensed consolidated financial statements of Qatar National Bank (Q.P.S.C.) (the “Bank”) and its subsidiaries (the “Group”) as at 31 March 2017, comprising of the interim consolidated statement of financial position as at 31 March 2017 and the related interim consolidated statements of income and comprehensive income for the three month =��$ ��;�:*�� "�� "�� #�� interim condensed consolidated statement of cash flows for the three-month period then ended, and the related explanatory notes. The Board of Directors are responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with IAS 34 - Interim Financial Reporting (“IAS 34”) and the applicable provisions of Qatar Central Bank regulations. Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our review.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. '��Z�!��"�� " ��" W�#��*�=�" ��=��

responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International [� �� '��#� �� !��!��"��aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34 and the applicable provisions of Qatar Central Bank regulations.

Firas Qoussous

of Ernst & Young

Qatar Auditors Registry Number 236

Doha - State of Qatar

11 April 2017

Financial StatementsCall +974 4425 2444 or visit qnb.com

Interim Consolidated Statement of Comprehensive Income

Three Months to31 March 2017

(Reviewed)QR000


(Reviewed)QR000

Profit for the Period 3,216,225 2,882,947

�� Income Statement in Subsequent Periods:Foreign Currency Translation ~��{��#��}=�� (153,494) (882,288)

Share of Other Comprehensive Income of Associates 44,165 (6,759)

��Z��>� �#��{ �� \ ��> ��{��!��#�� 113,303 (413,103)

��Z��>� �#��{ ��\ ��Investment in Foreign Operation (118,068) -

Available-for-Sale Investment Securities

Net Change in Fair Value 201,957 (497,665)

Net Amount Transferred to Income Statement (118,255) (82,998)

Total Other Comprehensive Income for the Period, net of Income Tax (30,392) (1,882,813)

Total Comprehensive Income for the Period 3,185,833 1,000,134

Attributable to:

��H �W 3,066,506 982,236

Non-Controlling Interests 119,327 17,898

Total Comprehensive Income for the Period 3,185,833 1,000,134

Interim Consolidated Statement of Financial Position

31 March2017

(Reviewed)QR000

31 March2016

(Reviewed)QR000

31 December 2016

(Audited)QR000

ASSETS

Cash and Balances with Central Banks 46,643,351 28,592,617 43,183,576

Due from Banks 53,002,369 21,713,695 45,721,215

Loans and Advances to Customers 535,770,785 401,885,406 520,417,231

Investment Securities 76,855,148 77,869,324 79,993,550

Investment in Associates 7,385,892 7,819,777 7,340,355

��=�� ="�� 4,218,294 1,702,941 4,208,679

Intangible Assets 3,856,484 5,348,995 3,882,648

Other Assets 15,227,165 5,320,020 14,947,261

Total Assets 742,959,488 550,252,775 719,694,515

LIABILITIES

Due to Banks 57,214,472 40,180,995 61,834,516

Customer Deposits 540,922,290 402,952,502 506,694,587

Debt Securities 23,314,140 16,346,021 28,825,874

Other Borrowings 22,321,302 14,788,863 23,728,887

Other Liabilities 28,159,674 15,514,374 27,757,233

Total Liabilities 671,931,878 489,782,755 648,841,097

EQUITY

Issued Capital 9,236,429 8,396,753 8,396,753

Legal Reserve 25,326,037 24,486,361 24,486,361

Risk Reserve 7,000,000 5,000,000 7,000,000

Fair Value Reserve 102,613 (710,159) 24,456

Foreign Currency Translation Reserve (11,864,917) (2,915,928) (11,604,928)

Other Reserves 652,732 1,205,451 608,600

Retained Earnings 29,633,163 24,059,927 31,112,008

Total Equity Attributable to Equity Holders of the Bank 60,086,057 59,522,405 60,023,250

Non-Controlling Interests 941,553 947,615 830,168

Instrument eligible for Additional Tier 1 Capital 10,000,000 - 10,000,000

Total Equity 71,027,610 60,470,020 70,853,418

Total Liabilities and Equity 742,959,488 550,252,775 719,694,515

Ali Shareef Al-Emadi Chairman

Ali Ahmed Al KuwariGroup Chief Executive Officer

Interim Consolidated Statement of Income


(Reviewed)QR000


(Reviewed)QR000

Interest Income 9,182,177 5,373,424

Interest Expense (5,005,704) (2,085,898)

Net Interest Income 4,176,473 3,287,526

Fee and Commission Income 993,447 608,469 Fee and Commission Expense (129,302) (69,947)

Net Fee and Commission Income 864,145 538,522

Foreign Exchange Gain 221,308 201,259

Income from Investment Securities 150,351 100,035 Other Operating Income 19,395 2,201

Operating Income 5,431,672 4,129,543

[� ��=�� (821,084) (538,889)

Depreciation (117,267) (61,154)

Other Expenses (631,152) (321,495)

Net Impairment Losses on Investment Securities (1,365) (13,893)

Net Impairment Losses on Loans and Advances to Customers (398,934) (20,117)

Amortization of Intangible Assets (17,781) (20,007)

Other Provisions (16,116) (19,270)

(2,003,699) (994,825)Share of Results of Associates 4,779 (69,006)

Profit before Income Tax 3,432,752 3,065,712 Income Tax Expense (216,527) (182,765)


Attributable to:��H �W 3,204,206 2,865,049

Non-Controlling Interests 12,019 17,898


Earnings Per Share (QR) (Basic and Diluted) 3.5 3.1

QNB Group’s Key Financial Highlights

• Net Profit increased to QR3.2 billion, up by 12% from March 2016

• Total Assets reached to QR743 billion, up by 35% from March 2016

• Net Loans and Advances up by 33% from March 2016 to reach QR536 billion

• Customer Deposits increased to 34% from March 2016 to reach QR541 billion

�� J"=��Z��!��`� ��~�=�� ==�#��

• Earnings Per Share increased to QR3.5, compared to QR3.1 in March 2016

�� +�� :��*��=��:��"�$ ��;�<

QNB Group’s Key Non-Financial Highlights

• QNB Group’s presence spans more than 30 countries across three continents

• QNB Group staff exceeds 28,000 serving more than 21 million customers through 1,250 locations and 4,300 ATMs


General Manager of Ezdan Hotel West Bay, Wael El Telbany (right) receives "Gold Circle Award" from “Agoda.com” official at Ezdan Hotel West Bay in Doha.

'Ezdan Hotels' bags prestigious award

Lexus GS F emerges as people’s choice at MECOTY AwardsThe Peninsula

Lexus continued its win-ning streak at the region’s biggest annual automotive awards programme as its high-

performance luxury sedan Lexus GS F took home the ‘Public Car of the Year’ award at the fourth edition of the Middle East Car of the Year (MECOTY) Awards. This award marks the third succes-sive year that Lexus has been recognised at MECOTY.

The GS F is the most power-ful sedan that Lexus has offered yet. The car combines the versa-tility of a sedan with the agility and dynamic character of the ‘F’ brand, which stands for the fast and dynamic response, high effi-c iency and seamless performance on everyday roads and on racetracks that can be enjoyed by everyone.

“The ‘Public Car of the Year’ award further underscores why

the Lexus GS F is so beloved by car enthusiasts in the Middle East,” said Takayuki Yoshitsugu, Chief Representative of Middle East and North Africa Representative Office, Toyota Motor Corporation.

“The GS F is a car that pushes the boundaries of performance to the limit – it’s a car that is fun to drive every day, whether on a busy street or a winding road,

regardless of one’s driving skills. We thank all our customers for making Lexus GS F the clear peo-ple’s choice, and we look forward to their constant support that serves as our inspiration to con-tinue delivering amazing experiences.”

The GS F is the first new ‘F’ series sedan model since the launch of the IS F in 2007. Equipped with a 5.0-liter V8 engine that delivers 471 hp at 7,100 rpm and 54.0 kg/m of torque at 4,800-5,600 rpm, the GS F’s exceptional high-speed

performance and handling, which have been nurtured on racetracks, reflect Lexus’ attempt to create a sense of excitement for its customers whenever and wherever they drive it.

The interior of the GS F taste-fully melds craftsmanship and

affluence with outstanding ergo-nomics and functionality. With the GS F being a performance pre-mium sedan, special emphasis has been placed on creating a driver-centric cockpit. This pilot-focused design theme is characterized by the information display/gauges positioned directly in front of the driver. In terms of safety, the car utilises the Lexus Safety System+ to provide a multi-faceted approach to active and passive safety.

The MECOTY Awards inte-grates a unique nomination and scoring methodology and is the biggest and most prestigious awards program for the regional automotive sector, which is devel-oped, tested and implemented by the most experienced ‘motoring minds’ of the industry. This year’s awards were chosen by a jury of 15 independent motoring journal-ists from leading automotive publications throughout the Mid-dle East and North Africa.

The Peninsula

Skyline Automotive, the offi-cial distribution partner of the Hyundai Motor Com-

pany in Qatar, is set to make a real impression at this year’s Qatar Motor Show (QMS) by showcasing an impressive selec-tion of stylish, efficient, technologically advanced vehicles.

The business will present nine cars at the show including several award-winning vehicles in a range of sizes. It will also unveil exciting developments in terms of hybrid technology, which reflects Skyline

Automotive’s commitment to presenting a product range that is ideally suited to Qatar as well as delivering Hyundai’s vision of continuously improving fuel-effi-ciency and environmental performance.

Reflecting the theme of this year’s show – ‘Driving to Inno-vation’ – Skyline Automotive will be presenting Hyundai’s latest hybrid technology, amongst the most fuel-efficient on the mar-ket , which combines uncompromising design and driving experience with the lat-est in safety and convenience technologies.

The business’ presence at the

Motor Show adds further momentum to the progress it has achieved after launching late last year.

Since then it has made a real impact on the automotive mar-ket in the country with significant investments in developing a range of sales and after-sales facilities, bringing an incredible product range to the country and shaping an industry-leading customer service experience.

Skyline Automotive will be located at stand D at the Qatar Motor Show, running from April 18 to the 22 at the Doha Exhibi-tion and Convention Center.

Skyline Automotive to make its mark at Qatar Motor Show Qatar Chamber to attend Islamic Chamber meeting in MuscatThe Peninsula

Qatar Chamber will take part in the 25th Board of Directors Meeting

and the 33rd General Assem-bly Meeting of the Islamic Chamber of Commerce, Industry and Agriculture that starts today in Oman.

The Chamber delegations includes board members Abdul Aziz Al Ridwani and Dr Mohamed Jowhar Al Mohamed, Director of Halal Certification Center Hareb Mohamed Al Jabri and QC’s Director General Office Man-ager Said Ibrahim.

The agenda of the 25th meeting includes reviewing and approving the report of the 58th session of the Finance Committee held yes-terday in Muscat, in addition to appointing an auditor for the fiscal year 2017 and nom-inating chairman, board members, members of the Finance Committee for the new council 2017-2021, and electing the Bureau.

The agenda of the 33rd General Assembly of the Islamic Chamber includes electing the Bureau, approval the 24th Board of Directors Meeting, and the report of the 25th meeting of the Board of Directors of the Islamic Chamber held in Muscat and the report of the 58th Meeting of the Finance Committee of the Islamic Chamber.

The Peninsula

Qatar Chamber will host an extensive gathering between officials from

Hamad Port and representa-tives of food companies and exporters tomorrow at the Chamber headquarter, accord-ing to a press release issued by the Chamber yesterday.

The meeting will discuss the obstacles and complaints spot-ted by the Chamber and facing Qatar companies exporting food.

It also will review the latest actions taken by the Qatar Ports

Management Co. “ Mwani”, in addition to the increase of fees imposed on importers, as well as some other obstacles faced by food importers in Qatar.

The statement said the Chamber has addressed the competent authorities such as Transport Ministry, General Authority of Customs and “Mwani” on the obstacles fac-ing food companies.

The Chamber has sent invi-tations to all food importers to attend the meeting which will be attended by senior officials from the competent bodies.

QC to host meeting between Hamad Port & food companies

Lexus GS F

Automotive awards

Luxury sedan Lexus GS F took home the ‘Public Car of the Year’ award at the fourth edition of the MECOTY Awards.

MECOTY is the most prestigious awards programme for regional automotive sector.

Hyundai Tucson 2017

25WEDNESDAY 12 APRIL 2017 BUSINESS

Chinese Premier Li Keqiang attends a meeting with Yohei Kono, head of the Japanese Association for the Promotion of International Trade, at the Great Hall of People in Beijing, China.

China-Japan meet

Saudi plans investments in gas sectorLondon/Dubai Reuters

Saudi Arabia and interna-tional oil companies have discussed gas venture

opportunities inside the king-dom and abroad as part of the top crude-exporting country's drive to diversify investments before the listing of national energy giant Saudi Aramco.

Saudi officials explored investment opportunities with firms including BP and Chevron to help develop its gas reserves, the world's sixth largest, at a time of booming energy demand at home, four industry sources told Reuters.

Aramco has also looked into investing in gas ventures abroad, including with Italy's Eni, the sources said.

The development revives memories of talks between Ara-mco and global majors at the end of the 1990s and early 2000s, known as the Saudi gas initiative. Most of those talks collapsed as the parties disa-greed over returns on investment.

This time, Aramco is gear-ing up for a share listing next year, aiming to get a valuation of up to $2 trillion in what could be the world's biggest initial public offering (IPO).

Chevron, BP, Aramco and Eni declined to comment on talks. "We have a long-standing relationship with Saudi Arabia, so it is not uncommon for us to talk to them. We're always hav-ing discussions about business development. I don't have any-thing particular to say about Saudi Arabia," Chevron CEO John Watson (pictured) told

Reuters last week.BP Chief Executive Bob

Dudley, who travelled to Saudi Arabia at the end of last year, said this year he wouldn't rule out "creative partnerships" with Aramco but that an outright investment by BP in the IPO was unlikely.

The kingdom has a long-term goal of increasing the use of gas for domestic power gen-eration, thus reducing oil burning at home and freeing up more crude for export.

This could help increase Aramco's valuation as it gener-ates more revenue from exports than selling oil at lower domes-tic prices - Saudi Arabia is the world's fifth-biggest oil con-sumer despite being only the 20th-biggest economy.

Saudi Energy Minister Kha-lid al-Falih, who is also Aramco's chairman, said last year that Aramco was interested in investing in international upstream ventures, particularly gas, and could invest in import-ing gas into the kingdom.

Diversifying gas assets abroad would help Aramco achieve a better valuation and is attractive for investors, indus-try sources said. Riyadh also plans to raise domestic gas prices, a move seen as an incen-tive for foreign companies.

Aramco is preparing to reveal in the next few months a new gas strategy aimed at devel-oping resources to keep pace with rising domestic demand, sources familiar with the discus-sions said.

It comes as part of the king-dom's push to diversify its economy away from oil, a strat-egy known as "Vision 2030", amid a global drive to phase out the most polluting fossil fuels.

Aramco wants nearly to double gas production to 23 bil-lion standard cubic feet a day in the next decade.

"IOCs (international oil com-panies) are waiting for that (strategy) to make their deci-sions," one industry source familiar with the matter said.

Two Saudi-based industry sources familiar with the discus-sions said BP's Dudley had expressed an interest in invest-ing in gas exploration in the Red Sea. However, the two sides have yet to hold any talks on the project.

Aramco controls gas reserves in excess of 8 trillion cubic metres, according to BP's annual energy review. The Saudi company has said it wants to explore for gas in the shallow waters of the Red Sea as well as onshore shale gas.

Since gradually renational-ising the industry in the 1970s, Saudi Arabia has not allowed the majors to develop its oil.

Goldman sees Asia stock boost from reforms

Singapore Bloomberg

Improvements in corporate governance could unlock greater shareholder returns

in Asia, with companies in China, Japan and South Korea poised to benefit the most, according to Goldman Sachs Group Inc.

Reforming the way compa-nies are run would cut the risk of investing in the world’s fast-est-growing region, Goldman analysts led by Gabriel Wilson-Otto said in a report Tuesday. Japan’s Sumitomo Mitsui Finan-cial Group Inc., South Korea’s Hyundai Motor Co. and Sam-sung Electronics Co., and Shanghai-based Baoshan Iron & Steel Co. are among compa-nies Goldman says could realize m o r e v a l u e f r o m restructuring.

Shares of companies that have been involved in 14 major environmental, social and cor-porate governance scandals since 2007 have underper-formed their sectors by an average of 25 percent in the two weeks following each event, according to Goldman’s calcu-lations. Efforts to address board diversity in Japan and state-owned enterprise reform in

China show governance reform is on the radar, but more can be done.

“For investors, the contin-uation of these trends could potentially lower the risk of value destruction from govern-ance-related ‘tail risk’ events in Asia,” the analysts said. Reform “holds the potential to unlock value through corporate restructuring and more efficient capital structures.”

In Japan, the Government Pension Investment Fund said last month that it’s seeking to hire new external managers of Japanese stocks and improve the way the fund interacts with the companies it invests in. It was seen as a sign the world’s biggest pension fund is putting weight behind Prime Minister Shinzo Abe’s attempts to make Japanese firms more efficient and profitable.

Japan created a steward-ship code in 2014, which enlists institutional investors to press companies to put their excess cash toward growth, or else boost returns to share-holders. The next year they introduced a corporate gov-ernance code for companies. These sort of reforms have helped boost shareholder returns by 76 percent, accord-ing to Goldman.

China has been restructur-ing SOEs as part of efforts to re-direct the economy and cut industrial overcapacity. Read more here.

Corruption scandals in South Korea, which have ensnared former President Park Geun-hye and Samsung Group’s heir apparent Jay Y. Lee, provide a good catalyst for corporate governance reform, according to Goldman. The country’s National Pen-sion Service could help drive that change, like the GPIF did.

India mulls private banks for $1.5trn funding gap

Mumbai Bloomberg

India is considering turning to the private sector to help plug a chronic shortage of

capital for infrastructure projects.

The Reserve Bank of India is proposing Asia’s third-larg-est economy offer licenses to private companies to set up infrastructure banks. That could help finance $1.5 trillion in roads, ports, power and other projects over the next 10 years and bridge a gap that ratings agency Standard & Poor’s says is shaving off almost 5 percent of the country’s gross domestic product.

“Specialised banks could cater to the wholesale and long-term financing needs of the growing economy and possibly fill the gap in long-term financ-ing,” the RBI said in a discussion paper released from Mumbai on April 7.

With commercial banks saddled with huge nonperform-ing loans and credit growth languishing at decade lows, lenders have been reticent to invest in projects that involve a long waiting period before returns kick in. That bodes ill for

Prime Minister Narendra Modi’s government which is trying to spark investment, including clearing a backlog of billions of dollars of stalled projects.

Governments around the world are searching for ways to finance public projects. State-backed lending, led by the China Development Bank, drove infra-structure construction in China last year along with funds raised by local governments through bond sales. Canada is hoping to attract pension funds and glo-bal money managers to a new infrastructure bank it plans to set up this year with C$35 bil-lion ($26bn) in funding, and US President Donald Trump has promised $1 trillion in spending.

India appears to be consid-ering a different approach. According to the RBI’s paper, the banks would source their funds from wholesale and long-term deposits, bond issuance, bor-rowing and asset securitization, rather than retail deposits. The paper doesn’t mention whether the central bank or government would back the new banks.

India has used government-owned financial institutions to fund long-term projects in the past. The Industrial Finance

China's wind & solar sector to attract $780bn investmentsShanghai Reuters

China's wind and solar sec-tors could attract as much as 5.4 trillion yuan

($782bn) in investment between 2016 and 2030 as the country tries to meet its renewable energy targets, according to a research report published yesterday.

China has pledged to increase non-fossil fuel energy to at least 20 percent of total

consumption by the end of the next decade, up from 12 percent in 2015, part of its efforts to tackle air pollution and bring carbon dioxide emissions to a peak by around 2030.

To do that, China would need to raise wind and solar power's share of primary energy con-sumption to 17 percent by 2030, up from 4 percent in 2015, according to the report, pub-lished by environmental organization Greenpeace and involving research by a

government institute, a Chinese university, and other groups.

Wind and solar power could reduce fossil fuel consumption by nearly 300 million tonnes of standard coal a year by the end of 2030, equivalent to France's total primary energy consump-tion in 2015, the report said, assuming China met its targets.

In its 2016-2020 "five-year plan" for renewables, China's National Development and Reform Commission (NDRC) laid out a plan to raise total wind

generation capacity from 129 gigawatts (GW) in 2015 to more than 210 GW in 2020, with solar set to rise from 43.18 GW to 110 GW over the same period.

Total renewable capacity, including hydropower, would rise to 680 GW, 27 percent of the national total and up from around 480 GW in 2015, the NDRC said.

The NDRC itself projected its plans would require a total investment of 2.5 trillion yuan on solar, wind and other

renewables just over the 2016-2020 period.

However, the agency warned the country's electricity distribution system was still not flexible enough to handle renewable power, and there were still technological obsta-cles when it came to connecting wind and solar to the grid, lead-ing to large amounts of waste.

According to figures released last month by China's Electric Power Planning and Engineer-ing Institute, 49.7 billion

kilowatt-hours (kWh) of wind power failed to make it to the grid in 2016, up from 33.9 billion kWh in 2015 and amounting to 17 percent of total wind power generation.

Greenpeace said it worked with the China Wind Energy Association, the NDRC's Energy Research Institute, Tsinghua University and an environmen-tal research group called Draworld, and then submitted the findings to independent experts.

Fed official sees up to 4 rate hikes this yearSAN FRANCISCO Federal Reserve Bank President John Williams said yesterday the US central bank should raise interest three or four times this year, and begin to trim the Fed's giant balance sheet in late 2017.

"We need to further raise our benchmark interest rate and bring it back to a normal level over this year and next year, and we should also begin to normalize our bal-ance sheet towards the end of this year," Williams said in an interview in the Ger-man publication Borsen Zeitung.

"Three to four interest rate hikes seem appropriate this year," he said, adding that unemployment, at 4.5 percent, has already over-shot what is in his view full U.S. employment. "It cer-tainly makes sense that we position ourselves so that we are able to either pause or further increase towards the end of the year."

Opec & UAE to launch new global databaseDubai Reuters

Opec and the United Arab Emirates' minis-try of energy will next

week launch the first phase of a new global oil and gas database project aiming to develop an easy-to-use tool to analyse energy informa-tion and allow for more transparency.

The Oil and Gas Big Data Project "will consist of a set of high standard analytic tools, employing data-driven approaches, optimisation and statistical analysis tech-niques," Opec said in a statement yesterday.

It will be linked to publicly available oil market databases and will cross-compare infor-mation between different countries, flows and products, and will be expanded in the future, it said. Accurate and timely information on oil sup-ply, demand and inventories is key for the oil market to analyse future trends.

A lack of reliable data on production and consumption of crude oil and refined fuels in many emerging markets is often an obstacle to do so and could contribute to oil price volatility.

Producers and consumers in the late 1990s stepped up a bid to improve transparency through such efforts as the Joint Organisations data Ini-tiative (JODI), an attempt to cast light on the world's opaque global oil markets.

Better governance

Shares of companies that have been involved in major scandals have underperformed their sectors.

China has been restructuring SOEs as part of efforts to re-direct the economy.

QATAR STOCK EXCHANGE


INTERNATIONAL MARKETS - A LIST OF SHARES FROM THE WORLD

A C C-A/D 1485.55 13.7 14551

Aarti Drugs-B/D 569.05 -4.6 1906

Aban Offs-A/D 233.8 1.1 154016

Ador Welding-B/D 323 5.05 1814

Aegis Logis-B/D 188.55 -2.95 45165

Alembic-B/D 42.15 2.7 1217410

Alok Indus-B/D 2.96 0 442497

Apollo Tyre-A/D 228.7 11.9 990113

Asahi I Glass-/D 229 5.9 5564

Ashok Leyland-/D 82.4 -0.2 1023554

Bajaj Hold-A/D 2131 -5.4 1316

Ballarpur In-B/D 19 0.05 465647

Banaras Bead-T/D 73.05 1.6 6123

Bata India-A/D 578.65 11.3 77301

Bayer Crop-A/D 3819 35.15 116

Beml Ltd-A/D 1377.75 -3.65 17021

Bharat Ele-A/D 175.95 3.9 641490

Bhansali Eng-B/D 38.5 -0.25 1175703

Bharat Bijle-B/D 1066.35 -5.85 17134

Bharatgears-B/D 131.1 1.35 14872

Bhartiya Int-B/D 529 -1.25 13502

Bhel-A/D 176.45 1.7 418492

Bom.Burmah-B/D 825.85 2.7 22670

Bombay Dyeing-/D 79.9 -0.2 512527

Camph.& All-Xc/D 839.45 17 1750

Canfin Homes-B/D 2372.2 32.55 13728

Caprihans-Xc/D 101.55 2.85 6298

Castrol India-/D 434.5 1 40654

Century Enka-B/D 445.6 6.15 54592

Century Text-A/D 1089.4 24.45 63050

Chambal Fert-B/D 86.95 0 166081

Chola Invest-A/D 1077.5 26.65 30936

Chowgule St-Xt/D 16 -0.18 11900

Cimmco-T/D 91.75 -0.55 11779

Cipla-A/D 578.8 -9.75 1958135

City Union Bk-/D 153.25 0.35 27524

Colgate-A/D 1018.35 2.2 15817

Container Cor-/D 1153.15 21.5 37739

Dai-Xc/D 499 -0.05 5866

Dcm Financia-B/D 3.42 0.16 6850

Dcm Shram Ind-/D 317.15 -4.2 14574

Dhampur Sugar-/D 213.55 0.35 117517

Dr. Reddy-A/D 2630.2 -6 15467

E I H-B/D 124.9 3.2 14798

E.I.D Parry-A/D 277.9 1.45 41449

Eicher Motor-A/D 25785.1 220.55 1475

Eimco Elecon-T/D 515.6 24.55 6407

Electrosteel-B/D 38.85 0.05 525459

Emco-B/D 31.4 0.3 118803

Escorts Fin-Xd/D 11.88 0.35 52593

Escorts-A/D 550.15 5.25 241663

Eveready Indu-/D 285 6.15 36235

F D C-B/D 202.5 0.85 8285

Federal Bank-A/D 91.85 2.05 582070

Ferro Alloys-X/D 11.19 0.53 477800

Finolex-A/D 569.85 -1.15 5974

Forbes-B/D 1799 -69.5 6971

Gail-A/D 385.85 0.95 70059

Gammon India-B/D 11.2 0.13 187624

Garden P -B/D 32.8 0.4 3064

Godfrey Phil-B/D 1137.75 -2.5 31308

Goodricke-Xc/D 292.7 -8.35 24939

Goodyear I -B/D 901.25 10.25 61817

Hcl Infosys-B/D 57.25 1.4 920570

Him.Fut.Comm-B/D 14.11 0.18 580916

Himat Seide-B/D 344.7 5.25 14923

Hind Unilever-/D 923.3 -1.7 68814

Hind Motors-B/D 9.9 0.04 229460

Hind Org Chem-/D 24.2 0.05 28095

Hind.Petrol-A/D 537.1 -5.5 123970

Hindalco-A/D 196.5 1.75 667607

Hous Dev Fin-A/D 1475.6 8.95 144557

I F C I-A/D 30.05 0.2 1384075

Idbi-A/D 76.05 0.95 272994

Ifb Agro-B/D 440.2 -9 5494

Ifb Ind.Ltd.-B/D 626.6 15.2 18886

India Cement-A/D 168.45 4.9 412629

India Glycol-B/D 172.3 -2.6 37790

Indian Card-B/D 209 1.9 2189

Indian Hotel-A/D 130 1.05 52456

Indo-B/D 197 1.4 203730

Indusind-A/D 1424 -1.9 33512

J.B.Chemical-B/D 341.5 0.15 3971

Jagatjit Ind-X/D 59.9 0.15 2040

Jagson Phar-B/D 40.5 1.05 13315

Jamnaauto-B/D 224.85 1.3 41649

Jbf Indu-B/D 272.8 -0.3 18717

Jct Ltd-Xc/D 5.12 -0.04 250645

Jenson&Nich.-T/D 15.1 -0.44 73879

Jik Indust-B/D 0.77 0.03 25387

Jindal Drill-B/D 175.05 1.25 25305

Jktyre&Ind-A/D 144.15 4.5 697293

Jmc Projects-B/D 287 8.45 5863

Kabra Extr-B/D 121.7 -1.3 8259

Kajaria Cer-A/D 647.15 21.05 82450

Kakatiya Cem-B/D 326.35 2.05 4911

Kalpat Power-B/D 334.65 7.05 7138

Kalyani Stel-B/D 394 -2.15 90490

Kanoria Chem-B/D 74.25 0.35 14361

Kg Denim-Xc/D 100 -0.75 25320

Kilburnengg-Xd/D 67.95 2.7 213014

Kinetic Eng-Xc/D 79.25 0.6 4364

Kopran-B/D 97 14.45 2571594

Lakshmi Elec-X/D 476.75 5.4 3226

Lgb Broth-B/D 616.15 -3.4 1571

Lloyd Metal-Xt/D 18.8 0.85 209023

Lupin-A/D 1428.5 11.65 32981

Lyka Labs-B/D 55.75 0.25 28487

Mafatlal Ind-X/D 285.3 17.75 87203

Mah.Seamless-B/D 348.6 -1.35 3467

Mangalam Cem-B/D 350.05 2.7 1647

Maral Overs-B/D 48.1 2.75 163225

Mastek-B/D 195.8 -2.1 43551

Max Financial-/D 651.75 -2 84904

Mrpl-A/D 112.85 2.7 342449

Nagreeka Ex-B/D 38.7 1.1 10824

Nahar Spg.-B/D 145.5 0.85 9054

Nation Alum -A/D 74.8 0.5 119979

Navneet Edu-B/D 161.7 -0.15 32942

Nepc India-Z/D 1.53 -0.04 13088

Neuland Lab-B/D 1523 -3.1 4961

Nrb Bearings-B/D 110.5 1.25 3617

O N G C-A/D 187.5 1.1 427033

Ocl India-B/D 1009.5 4.65 3907

Oil Country-B/D 49.25 -0.1 8030

Onward Tech-B/D 74.85 -1.05 4907

Orchid Pharm-B/D 32.8 0.8 719118

Orient Hotel-B/D 38.7 1.9 45152

Orient.Carb.-B/D 979 -6 1217

Patspin India-/D 24.95 2.75 202450

Punjab Chem.-B/D 283.35 -1.9 4150

Radico Khait-B/D 115.95 1 212967

Rallis India-A/D 252.4 4.45 44481

Reliance Indus/D 493.8 15.8 188625

Ruchi Soya-B/D 25.5 -0.5 250895

Salora Inter-B/D 64.5 0 2715

Samtel-Xt/D 3.82 0.02 2000

Saur.Cem-Xc/D 66.5 0.05 9071

Sterling Tool-/D 229.4 -0.8 7626

Tanfac Indust-/D 64.5 0 17763

Thirumalai-B/D 893.8 4.9 7566

Til Ltd.-B/D 310.35 19.35 40352

Timexgroup-T/D 56.5 -1.55 36041

Tinplate-B/D 87.7 0.55 337641

Ucal Fuel-B/D 216.7 -1.15 25140

Ultramarine-Xc/D 180 -0.55 11363

Unitech P -A/D 5.85 0.22 5029652

Univcable-B/D 110.4 5.1 111935

3i Group/D 771.63 10 1318972

Assoc.Br.Foods/D 2624.25 46 380687

Barclays/D 216.95 0.75 8768428

Bp/D 474.05 4.4 9112726

Brit Am Tobacc/D 5374 29 595615

Bt Group/D 314.9 -0.1 6440828

Centrica/D 217.9 1.2 6071045

Gkn/D 357.2 2 1236972

Hsbc Holdings/D 662.626 5.9 7677380

Kingfisher/D 326.6 2 1710066

Land Secs Grou/D 1107 11 1329720

Legal & Genera/D 246.8 0.3 4936845

Lloyds Bnk Grp/D 63.233 0.18 83548986

Marks & Sp./D 345.8 0.4 2049474

Next/D 4098 -12 255676

Pearson/D 635 -0.5 1825663

Prudential/D 1678 -1.5 4858590

Rank Group/D 211.1 -0.1 9304

Rentokil Initi/D 252.1 2 749584

Rolls Royce Pl/D 811.5 15 2005084

Rsa Insrance G/D 598.5 6 366040

Sainsbury(J)/D 264.5 1.9 1661403

Schroders/D 3150 20 78222

Severn Trent/D 2400 7 191455

Smith&Nephew/D 1258 6 504144

Smiths Group/D 1625.5 8 426377

Standrd Chart /D 739.6 3 1663611

Tate & Lyle/D 775.5 2.5 318784

Tesco/D 195.15 0.95 10501741

Unilever/D 4055.0005 1.5 478150

United Util Gr/D 1001.315 3.5 475095

Vodafone Group/D 203.9255 0.05 12137766

Whitbread/D 4086 51 136853

COMPANY CLOSE NET VOLUME NAME CHG TRADED





LONDON

QE Index 10,411.77 0.70 %

QE Total Return Index 17,365.76 0.70 %

QE Al Rayan Islamic Index 4,166.21 0.28 %

QE All Share Index 2,948.57 0.53 %

QE All Share Banks & 3,056.57 0.50 %

Financial Services

QE All Share Industrials 3,296.67 0.41 %

QE All Share Transportation 2,314.90 0.77 %

QE All Share Real Estate 2,381.82 1.25 %

QE All Share Insurance 4,334.91 0.09 %

QE All Share Telecoms 1,247.43 1.98 %

QE All Share Consumer 6,407.86 0.17 %

Goods & Services

QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES

GOLD AND SILVER

11-04-2017Index 10,411.77

Change 73.27

% 0.70

YTD% 0.24

Volume 10,871,079

Value (QAR) 284,145,000.93

Trades 3,101

Up 17 | Down 21 | Unchanged 0310-04-2017Index 10,485.04

Change 24.84

% 0.24

YTD% 0.46

Volume 7,853,704

Value (QAR) 236,797,015.94

Trades 3,604

EXCHANGE RATE

GOLD QR147.5832 per grammeSILVER QR2.1114 per gramme

Index Day’s Close Pt Chg % Chg Year High Year LowAll Ordinaries 5964.613 15.746 0.26 5948.9 5635.1

Cac 40 Index/D 5113.88 6.43 0.13 5135.28 4733.82

Dj Indu Average 20658.02 1.92 0.01 21169.11 16165.9

Hang Seng Inde/D 24088.46 -173.72 -0.72 24656.65 21883.82

Iseq Overall/D 6742.23 -8.55 -0.13 6753.49 6369.05

Kse 100 Inx/D 48250.07 307.12 0.64 50886.8 47254.65

S&P 500 Index/D 0 0 0 2400.98 2245.13

Currency Buying SellingUS$ QR 3.6305 QR 3.6500

UK QR 4.4982 QR 4.5618

Euro QR 3.8405 QR 3.8950

CA$ QR 2.7104 QR 2.7634

Swiss Fr QR 3.5931 QR 3.6441

Yen QR 0.0326 QR 0.0332

Aus$ QR 2.7104 QR 2.7634

Ind Re QR 0.0560 QR 0.0571

Pak Re QR 0.0344 QR 0.0351

Peso QR 0.0728 QR 0.0743

SL Re QR 0.0237 QR 0.0242

Taka QR 0.0445 QR 0.0454

Nep Re QR 0.0350 QR 0.0357

SA Rand QR 0.2618 QR 0.2672

page 21 april 12 - home - the peninsula qatar€¦ · 11-04-2017 · qnb net proﬁt rises to...

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