thursday 30 april 2020 to advertise contact: tel: 44557 857 or … · 2020-04-29 · indian...
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Thursday 30 April 2020 To advertise contact: Tel: 44557 857 or email: [email protected]
MR. SENTHURAN SEENITHAMBY PERINBARASASRILANKA NATIONAL
PASSPORT NO. N7684241QATAR ID NO. 29114405748
NOTICE
TEL: 44366001 FAX: 44366004
The above said person is leaving Qatar for good. Anybody who has any claim against him should contact us on the following numbers within 3 days from the date of this advertisement. We will not be responsible for any claim whatsoever after the above said date.
07THURSDAY 30 APRIL 2020 CLASSIFIEDS
ARTECHSage Accounting, Peachtree, QuickBooks, Dynacom, DacEasy, Tally, POS, Bar Code, Fixed Assets Software’s.Tel: +974 44375654 E-mail: [email protected]
ACCOUNTING SOFTWARES
GEM ADVERTISING & PUBLICATIONS(Overseas Newspaper Advertisements) Tel: 44442001 - GSM: 55783303
ADVERTISING OVERSEAS NEWSPAPER
ATTESTATION
CALIBRATION SERVICES
ASIA TRANSLATION & SERVICES CENTRELeading Legal Translators & Document Legalization Since 1987. Indian Certificate Attestation. Head Office: 44364555/50233133 - Al Hilal Branch: 44621334 - Salwa Road Branch: 66038181 Mobile Contacts: Sufiyan - 66192881/Yoonus - 77813190
ARMSTRONGWindow/Split/Package/Central Units. Sales, Services, Spare Parts/Window/Split & Central A/C. Annual Contracts. Mobile: 555 54 274 (Kumar)E-mail: [email protected] www.armstrongmachinery.com
A/C MAINTENANCE & SERVICES
ALWASEEM TRANSLATION & SERVICES CENTERAuthorized Translators - Company Formation and PRO Services (Opp-Karwa Bus Stat. Doha, Al-Saeed Buil.2nd Floor.) M : 50822292 / 31586616 T : 44116727 E-mail : [email protected] Web : www.alwaseemtranslation.com
BUSINESS SET-UP
HELPLINE GROUPCertificate attestation from INDIA| UK | USA | CANADA | PHILIPPINE and Gulf Countries20 Years of experience and ISO Registered CompanyHELPLINE GROUP, C Ring Road Tel:(+974)-44271100Mob: 31550149 Email: [email protected]
HELPLINE GROUPCompany Registration, Local Sponsorship, Trademark, Feasibility Study, Tax systems and PRO Services. Our branches QATAR| KUWAIT | UAE | INDIA | UK | CANADA. (formed more than 3000 companies)HELPLINE GROUP, C Ring Road Tel: (+974)-44271100MOB: 77711129 Email: [email protected]
AL HAYIKI TRANSLATION & SERVICES EST.Authorized Translation & Certificate Attestation since 1992Sofitel Complex (Mercure Hotel) Ground Floor, Office No. 25Mob: 33411150 & 33411153, Tel: 44367755 & 44181990E-mail: [email protected] Web: www.alhayikitranslation.com
QUEENS LAND SERVICESBusiness Set-up and Sponsorship. Debt Collection. Real Estate Services Mob: 77776917 E-mail: [email protected]
INVEST IN QATAR
IMMIGRATION SERVICES
HELPLINE GROUPComplete Manpower SolutionsBusiness Structure and Business PlanningTel: (+974)-44271100 Mob: 77711129 Web: helplinehrconsulting.com
HR CONSULTATION
AL SALEH GROUP(HR)Tel: 44423838Send CV to Email: [email protected]
ARMSTRONGRepairs/Spare Parts & Rentals. Power from 5KVA to 2000KVA Sales/Services/ Spare Parts & Rentals. Annual Contracts.Mobile: 555 54 274 (Kumar) E-mail: [email protected] www.armstrongmachinery.com
GENERATORS SERVICING
CLEANING AND MAINTENANCE
AL MUTWASSIT CLEANING & PEST CONTROLComplete General Cleaning For Residential & Commercial. Supply of Cleaning Staff on Contract Basis. Pest Control Services. Office: 44367555 Mob: 30029977/55875920 E-mail: [email protected]
AL SALEH CLEANING & HOSPITALITYComplete General Cleaning Services for Old & New Villas.Tel: 44423838 GSM: 55508393 - 55526943 - 50190005
CAPITAL CLEANING COMPANY W.L.L.Complete General Cleaning Services for Old and New VillasTel: 44582257 Mobile: 33189899/ 55565328E-mail: [email protected]
WOKEER INDUSTRIAL AREAFrom 150 - 200 LaborsMobile: 660 02 704 (Steve)E-mail: [email protected]
LABOUR CAMP FOR RENT
ARMSTRONG1000-4000 Gallon Tankers - Daily/Monthly/Yearly Contracts. Mobile: 660 41 449 (Neil)E-mail: [email protected].
SEWAGE & WASTE REMOVAL
SCAFFOLDING
APOLLO ENTERPRISES SCAFFOLDING DIVISIONContract/Hire/Sale - Salwa Road. Tel: 44693334 Fax: 44416274 GSM: 55521089/55560246/55536285 www.apollo-qatar.net - E-mail: [email protected]
REAL ESTATE
AL MUFTAH SERVICESTel: 44634444/44010700 Mob: 55542067/55823100 E Mail: [email protected] Website: www.rentacardoha.com
TRANSLATION
HELPLINE GROUPAuthorized Translation Centre.We speak more than 100 Languages. C Ring Road, Near by Toyota Signal Tel: (974)-44271100 Mob: 70114857 Email: [email protected]
PARTY KINGDOMNear Jaidah Flyover, Nasrallah Centre. Tel: 44353501/ 44366431
E-mail: [email protected]
PARTY ITEMS & BALLOON DECORATION
ARMSTRONGPorta Cabins/Pre-Fabricated Buildings/Toilets/Security Cabins. Fire Rated/Non Fire Rated. Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.
PORTA CABINS (Sales & Rentals)
ARMSTRONGFive Peals-USA Sales/Rental Service/Cleaning, Sewage Removal. Daily/Monthly/Yearly. Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.
PORTABLE & CHEMICAL TOILETS (Sales & Rentals)
MEDIA SERVICES
RENT A CAR
AL MUFTAH RENT A CARMain Office: D’ Ring Rd, T: 44634444/44010700 Branches: Airport: 44634433 Al Khor: 44113344 E Mail: [email protected] Website: www.rentacardoha.com
OASIS RENT A CARYOU RENT MORE THAN A CAR WITH OASISAllen: 6641 7354 Tel: 4413 0011 - OasisCars.com [email protected] - - Great deals on long term rentals
REGENCY FLEETS (A Regency Group Co.)Special Corporate leasing and Rental rates. Price includes Comprehensive Insurance, Maintenance, Replacement Vehicle etc. Driven by Values. E-mail: [email protected] Tel: 44433822/44554046/44554048 Fax: 44554047 Airport Branch (24hrs): Tel.: 70482655
NATIONAL - ALAMO RENT A CARCars - 4WDs - Pickups - Buses - Chauffeur Drive Call: 5547 8150, 5040 0624 Web: www.national-qatar.comE-mail: [email protected]
BUDGET RENT A CARCompetitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section,Free Road Side Assistance, Easy & Fast Booking ProcessHead Office: Barwa Village T: 44325500 M: 66971703 Toll Free: 800-4627Email: [email protected] Website: www.budgetqatar.com
AL SALEH REAL ESTATETel: 44423838. Mob: 33721133 E-mail: [email protected]
HOME CARE
ARMSTRONGAblution & Event Toilets Rental, Porta Cabins, Chemical Toilets & Other Equipment Rental.Mobile : 557 80 396 (Steve) E-mail: [email protected]
EVENT RENTALS/ ABLUTIONTOILETS
MASSAGE
KOTTAKKAL AYURVEDIC MASSAGE CENTREAyurvedic Massage, Philippine & Thai Massage. Near Badriya Signal, Bin Mehmood. Tel.: 44360061 GSM: 33453697
MEDIHERB MASSAGEKerala Ayurvedic, Thai, Philippine Massage (Gents & Ladies) for back pain, body pain, arthritis etc shirodhara, steam, Moroccan Bathe, Body Scrub etc. E-Ring Road,
Near ICC Signal, Nuaija. Tel: 66167700 - 50736611
AUTHENTIC THAI MASSAGE CENTERSFB: Royal Thai Men Spa, New Slata (Men Only)www.thaimassagedoha.com, Tel: 44666145FB: Royal Thai Lady Spa, Al Waab (Ladies Only)www.royalthailadyspa.com, Tel: 44142400
WATER TANK CLEANING
AL MUTWASSIT CLEANING & PEST CONTROLKharaba st, Behind white Mosque. Fax: 443679 99 - GSM. 55875920/55860432
CAPITAL CLEANING COMPANYCleaning Water Tanks & Pest Control. GSM: 55565328/ 33189899 Tel: 44582257 E-mail: [email protected]
WOKEER INDUSTRIAL AREAAvailable Sizes: 358/415/510/830/1340 Sqm.Mobile: 660 02 704 (Steve)E-mail: [email protected]
WAREHOUSE FOR RENT
ARMSTRONGNew & Used Containers - Sales/Rental (Certified & Uncertified) Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.
USED CONTAINERS (Sales & Rentals)
08 THURSDAY 30 APRIL 2020CLASSIFIEDS
05THURSDAY 30 APRIL 2020 BUSINESS
Federal Reservesees risks fromvirus, keepszero-rate pledgeBLOOMBERG
Federal Reserve officials restated their pledge to hold the benchmark interest rate near zero and will keep buying bonds, judging that the coro-navirus pandemic “poses considerable risks to the economic outlook over the medium term.”
The Federal Open Market Committee said in a unanimous statement yesterday in Wash-ington that it “will use its tools and act as appropriate to support the economy.” Officials yesterday left unchanged their vague guidance on the future path of rates. The statement repeated language from March 15 saying the committee would keep the benchmark target range near zero “until it is con-fident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” US stocks held gains after the Fed’s statement while yields on 10-year Treasury notes edged up slightly to 0.62 percent.
Regarding asset purchases, the FOMC used wording similar to last month, saying the buying of Treasuries and mortgage-backed securities will continue “in the amounts needed to support smooth market func-tioning, thereby fostering effective transmission of mon-etary policy to broader financial conditions.” Fed Chairman Jerome Powell (pictured) will hold a press conference via video with reporters at 2.30pm Washington time.
The central bank has mounted an unprecedented
push to limit the economic harm of the virus, which has plunged the global economy into recession and likely sent US unemployment well above 10 percent after businesses shuttered to slow the con-tagion. Government data released earlier yesterday showed US gross domestic product shrank at an annu-alized 4.8 percent rate in the first quarter, the largest drop since 2008.
Policy makers last month slashed their benchmark rate and launched a massive bond-buying campaign to stabilize markets for Treasury and mortgage-backed securities that had become dangerously unsettled amid the pandemic. The federal funds rate has stood in a range of zero to 0.25 percent since mid-March.
The central bank’s Board of Governors has also responded to the crisis by announcing nine extraordinary lending programs, pledging to make funds available to banks, money market funds, companies, cities and states in an unprecedented use of the Fed’s emergency powers.
Oil producers keep pumping despite steep fall in pricesAFP — LONDON
The oil industry continues to pump out vast quantities of crude despite free-falling global demand that crushed prices, as companies come up against severe technical and financial obstacles.
Despite a lack of storage for the excess crude, “producers remain reluctant to cut pro-duction in the short term as there are costs and conse-quences of shutting in wells”, Chris Midgley (pictured), head of analytics at S&P Global Platts, told AFP.
In Russia for example, “any shut-ins means the wells freeze solid, necessitating completely new drilling”, according to independent analyst Peter Zeihan.
“Last time this happened it took the Russians nearly 15 years to get production back.” Rystad Energy analyst Louise Dickson told AFP that “the main obstacles to Russia lowering its production are technical.
“Turning off production at a well in Russia is much more technically complex and expensive than in Saudi Arabia,” she noted.
A price war between Saudi Arabia and Russia has been the main reason, alongside the coronavirus crushing global energy demand, for the collapse in prices. Across the Gulf region, shutting down and re-operating conventional oil wells can cause huge problems.
With them holding organic
deposits that need pressure to extract, shutting down the wells risks massive damage to reser-voirs that could be too costly to repair.
Such action could lead also to a permanent loss of vast amounts of oil, according to experts. Meanwhile in Canada’s heated oil-sand mines, “large parts of the resource base can be lost when it is shut in and cools down”, noted Raphaela Hein, analyst at JBC Energy.
She added that a company cutting production risks losing out to rivals.
“Often it is a ‘who blinks first’ game. Also, regulatory factors can play a role, mainly in the US, where operators risk to lose their lease when they stop producing from it, leading to states like Oklahoma currently waiving this regulation.” Even in the absence of oil prices bouncing back strongly since hitting negative territory last week, energy companies were not g o i n g t o m a k e
knee-jerk reactions to levels of operation. “Oil production is in general extremely capital intensive,” said SEB analyst Bjarne Schieldrop.
“Letting oil flow out of the well and out to market... carries very little cost,” he pointed out.
According to TD Securities analyst Bart Melek, “nobody wants to shut down” as com-panies take massive financial hits. “They’re cutting dividends, they’re cutting buybacks (of shares) and capital expenditure has collapsed. British energy giant BP on Tuesday said it slumped into a $4.4-billion net loss in the first quarter, but noted that production was falling only slightly.
In a boost for the industry, benchmark oil contracts “WTI and Brent crude have been jolted higher by two energy inventory reports”, noted David Madden, analyst at CMC Markets UK.
Data yesterday showed “US oil stockpiles grew by 8.99 million barrels (last week), but the consensus estimate was for an increase of more than 11 million barrels”.
On Tuesday, the private “API inventory report also showed that US oil stockpiles expanded by less than expected”, he added.
In reaction, WTI prices soared by more than one-third on Wednesday to almost $17 per barrel, though still mas-sively down on the start of the year when crude futures traded around $70.
GIS revenues up 16% to QR832m in Q1
FROM BUSINESS PAGE 1
Revenue within the insurance segment rose to QR231m for the first quarter, up by QR40m, or 21 percent, compared to the same period last year. However, the segment net profit decl ined by QR62m, reaching a net loss of QR45m compared to the first quarter of 2019. The segment net profit was severely impacted by neg-ative unrealised mark-to-market movement in the investment portfolio, as a result of the current market volatility amid COVID 19 outbreak.
Aviation segmental revenue totaled QR185m for the first quarter, with an increase of QR45m, or 32 percent, which translated into a 63 percent growth in segment net earnings at QR58m.
Going forward, the avi-ation segment will continue to focus on key international markets. Also, the segment acquisition of a 49 percent stake in Air Ocean Maroc in 2019, is set to spur further growth, which is currently looking at opportunities in Morocco, Western Africa and South of Europe.
The Group’s catering segment witnessed growth in revenues by 19 percent to QR135m for the first quarter; registering growth in profits by 94 percent to QR8m com-pared to the same period last year.
GIS will host an IR earnings call with investors to discuss its first-quarter results, business outlook and other matters yesterday at 1:30pm Doha Time. The IR presentation that accom-panies the conference call will be posted on the publi-cations page of GIS’s website.
GCC deficit could reach $250bn with a 16% drop in non-oil outputFROM BUSINESS PAGE 1
It envisages a longer and deeper shock of 9 months and a reduction in output that is 10 percent worse than in the baseline (33percent-39 percent) as well as a longer recovery period of 18 months.
For the Optimistic Scenario, Mena ADVISORS assumes that the Opec+ deal holds and that oil prices recover, averaging $40 in 2020-21. “We assume pro-duction remains in line with the OPEC+ quotas. The shock is assumed to be shorter and less
severe at 3 months and with 15% lower reduction in non-oil output than in the baseline (13 percent-19 percent) with a quicker recovery period of 6 months”, said Rory Fyfe, Man-aging Director, Mena ADVISORS.
Prime Minister of Norway, Erna Solberg, followed by the Development Minister, Dag Inge Ulstein, and CEPI Deputy Director, Frederik Kristensen, is seen during a visit at CEPI, an alliance to finance and coordinate the development of new vaccines to prevent and contain infectious disease epidemics in Oslo, Norway.
Boeing to shrink workforce and raisecash as pandemic slams jet industryREUTERS
Boeing Co said yesterday it would cut its 160,000-person workforce by about 10 percent, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consec-utive quarterly loss.
Boeing shares climbed 12 percent to $146.64 after the company said it was confident of getting sufficient liquidity to fund operations and would have positive cash flow next year as it ramps up production of the grounded 737 MAX.
The broader market was also higher on hopes for a potential COVID-19 treatment.
Reuters reported on Tuesday that Boeing is working with investment banks on a potential bond deal worth at
least $10bn. Last month it drew down its entire $13.8bn credit line and is also weighing seeking government aid.
Chicago-based Boeing declined to say how much gov-ernment assistance it may seek or under which part of a massive US stimulus package.
Planemakers, airlines and suppliers have been left reeling by the pandemic, which has crippled passenger travel and catapulted major economies into recession.
“Our industry is going to look very different as a result of this pandemic,” Boeing CEO Dave Calhoun told investors. “We will be a smaller company for a while.” Many of the job cuts, to be completed by the end of year through voluntary and involuntary layoffs as well as natural turnover, will be at the company’s commercial aircraft division, where it was already
grappling with a production freeze and year-long grounding of the 737 MAX following two fatal crashes.
Boeing expects to resume 737 MAX deliveries in the third quarter following regulatory approvals, CFO Greg Smith said, with production re-starting at low rates in the second quarter before grad-ually increasing to 31 per month during 2021.
Further gradual production increases will correspond with market demand. Meanwhile, Boeing will focus on delivering jets that it has already built in order to unlock frozen cash.
Aerospace analyst Josh Sul-livan said Boeing’s comments on the 737 MAX and cash pleased investors.
“They provided guideposts that people can sink their teeth into and gain confidence,” he said.
VW sees ‘severe’ virus impact but no annual loss aheadAFP — FRANKFURT AM MAIN
German car giant Volkswagen said yesterday it expects to defy the impact of the coronavirus pandemic with a small operating profit in 2020, although the figure will be “severely” impacted. The company
withdrew existing full-year targets earlier this month as it released grim preliminary earnings data for January-March.
With unit sales and revenue forecast “significantly below” 2019 levels, VW “expects oper-ating profit for 2020 to be
severely below the prior year, but still to remain positive,” it said in a statement unveiling full first-quarter results.
In final first quarter figures released Monday, net profit at the sprawling 12-brand group fell 83 percent year-on-year, to €517m ($561m).
Visit to CEPI