Business

TUESDAY 9 MARCH 2021 BarwaB Real Estate gets nod for cash ddividend of QR0.125 per share BarwaBa Real Estate was able to face the challenges imposedim by the COVID-19 pandemic. The majority of its financialfin indicators were better than the previous year.

SalahSa bin Ghanem Al Ali, Chairman of the Board of Directors of Barwa Real Estate Company BUSINESS | 02 QSE 10,052.23 +48.04 (0.48%) FTSE 100 6,719.13 +88.61 (1.34%) DOW 31,802.44 +306.14 (0.97%) BRENT $67.98 (-1.24)

Hamad Port wins award for Economic Diversification

THE PENINSULA — DOHA

In a ceremony attended by Minister of Hamad Port’s strong capabilities, Transport and Communications, H E modern facilities, and advanced Jassim Saif Ahmed Al Sulaiti, The Business Year presented an award to systems are leading its position recognise Hamad Port as ‘Economic as the gateway to Qatar and a Diversification Project of the Year’. The transshipment and a re-export ceremony was also attended by Capt. Abdullah Al Khanji, CEO of Mwani Qatar hub in the region, increasing the and Eng. Nabil AlKhaldi, Executive volume of trade between Qatar Director of Hamad Port Project. and the rest of the world. “Hamad Port’s strong capabilities, modern facilities, and advanced systems are leading its position as the gateway H E Jassim Saif Ahmed Al Sulaiti to Qatar and a transshipment and a re- Minister of Transport and Communications export hub in the region, increasing the volume of trade between Qatar and the rest of the world. Last year, Hamad Port towards new activities. This was the key achieved a record container volume for to achieving Qatar’s economic inde- the fourth straight year in a row with pendence and diversification. The transshipment volumes rising by 106 Hamad Port Project is being undertaken percent. The increase in transshipments Minister of Transport and Communications, H E Jassim Saif Ahmed Al Sulaiti; CEO of Mwani Qatar, Capt. Abdullah Al Khanji, to attract trade and industrialization to is an important sign of the port’s role in and other officials during the event. diversify the economy in line with Qatar the region. Multiple container terminals National Vision 2030. The services and at Hamad Port have been planned to Port becomes operational at full productivity uses, which is directly linked small and medium-sized enterprises. facilities at Hamad Port have encouraged facilitate the expansion of container han- capacitcy; the delay caused by 2020 has to structural transformation and trade Hamad Port Project has simply helped shipping lines to call their mainline dling capacity, commensurate with the been minimum. Container Terminal 2’s diversification. In the case of Hamad Qatar to successfully overcome the dom- services to Hamad Port directly. growing traffic of cargo demand,” stated inauguration is the big milestone of the Port, this comes in the form of the effi- inance of natural resources and the The Hamad Port is currently han- the Minister. year that we are all expecting to occur. cient management of goods and services shackles of geography. The impact of dling more than 24 direct services of all During the event held at the Ministry, Phase II of Hamad Port will be a great transportation, the focus on export Hamad Port Project also comes in the the major global shipping lines every Nataly Almanza, Country Director of The improvement and the final stage of a growth, FDI attraction and on increasing form of affecting the day-to-day business week. These direct mainline services Business Year referred to the reasons 10-year trip, but, at the same time, will the range of goods and services exported. operations and investment decisions in have opened various new trade routes behind this recognition: “We at The only be the beginning.” The Umm Al-Houl Special Economic Qatar by providing appropriate incentive and opportunities to bolster the growth Business Year have been first-hand wit- According to WTO, economic diver- Zone, situated close to Hamad Port, is frameworks, investment and policy of trade and industry in Qatar. Hamad nesses to the development of this project sification happens when factors of pro- one of several Special Economic Zones reforms aimed at slashing trade costs, Port is instrumental in the efficient since our arrival in the country. Year duction are moved within and across dif- (SEZs) in Qatar that encourage entrepre- and effective policies to support the real- shipping of products that companies 2021 will be the year in which Hamad ferent sectors towards higher neurship and help foster growth among location of some of Qatar’s resources handle for clients. QEWC plans $3bn electricity, power project Nebras Power moves

THE PENINSULA — DOHA ahead with global plans The company is working actively to diversify its revenue sources, operations Qatar Electricity and Water Company (QEWC) and raise the level of performance efficiency to preserve the natural and SACHIN KUMAR has developed a future plan for the next environmental resources. THE PENINSULA decade, in line with the country’s growing needs for electricity and water and to support Despite challenging envi- infrastructure projects and 2022 FIFA World The company is currently working on the expansion project, which will increase ronment at global level due Cup. The company has plans to construct a the water production capacity of the plant by 45 percent to 198 MIGD and the to outbreak of coronavirus new plant entailing $3bn investment with a pandemic, Nebras Power, the capacity of 2,600 MW of electricity and 100 project is expected to be fully commissioned during the second quarter of 2021. foreign investment arm of Million Gallons Per Day (MIGD) of desalinated Qatar Electricity & Water with investors around the world water, said Chairman of QEWC Board of Company (QEWC), is moving during the year and these efforts Directors, H E Eng. Saad bin Sherida Al Kaabi position and future plan. Power Plant in terms of production capacity ahead with its global expansion are expected to add new assets addressing the Ordinary General Assembly “The company is currently working on and financial returns,” he added. plans. to its investment portfolio in 2021. Meeting of the Qatar Electricity and Water the expansion project, which will increase In terms of foreign investments, the Nebras Power has expanded As per the report, the Company (QEWC) was held virtually yesterday. the water production capacity of the plant by company focused its activities on diversifying its investments in the Netherlands company has completed the The meeting, chaired by 45 percent to 198 MIGD and the project is and developing its investments, entering into by entering into partnerships to acquisition of a 49 percent stake H E Eng. Saad bin Sherida Al Kaabi, approved expected to be fully commissioned during new projects and taking advantage of the best develop solar energy stations and in ‘Stockyard Hills’ a wind energy the proposal of the Board of Directors to dis- the second quarter of 2021,” he added. global investment opportunities. The works are in progress to complete project in Australia, located in tribute dividend to the shareholders at the He added that Siraj 1 project, which is one company, through “Nebras Power Company”, the same in 2021, according to the the Australian state of Victoria. rate of 63 percent of the nominal value of the among the largest solar power projects in the acquired major stakes in various energy Annual Report of QEWC released The project contains 149 share (QR0.63 per share) for the year ended region in terms of size and capacity, is projects outside Qatar, most notably the Zen yesterday. In addition, Nebras wind turbines with a total on December 31, 2020. “The company is expected to be completed by first half of 2022, project in the Netherlands, the Oryx project Power is in the process of capacity of 527 MW and com- working actively to diversify its revenue with a capacity of 800 MW of electricity. in Jordan, the solar energy project in Brazil, increasing its stake in several mercial operation of the plant sources, operations and raise the level of per- “One of the most prominent local projects the Stockyard Hill wind power project in Aus- projects in Jordan and these is expected to start at the formance efficiency to preserve the natural in this context is the construction of Ras Abu tralia, the Carthage Power Company in acquisitions are expected to be beginning of the year 2021. and environmental resources. In this Fontas station with a capacity of 2,600 MW Tunisia, and the Amin renewable energy completed in the first half of The project will be the framework, the company completed Umm of electricity and 100 MIGD of desalinated project in the Sultanate of Oman. 2021. Nebras Power has also largest wind energy project in Al Houl Power project, which is operating at water. The project is scheduled to be com- Regarding the company’s financial per- embarked on expanding its the southern hemisphere and its full electricity and water capacity,” said pleted in the third quarter of 2024 at a cost formance in 2020, the company achieved a operations in Brazil by studying this acquisition is an important Eng. Saad bin Sherida Al Kaabi. of approximately $3bn with an IRR of 7 strong performance despite the difficulties new investment opportunities. initial step for the company to The meeting also approved the Financial percent to 8 percent,” he added. “The and challenges imposed by the pandemic. The company has reviewed enter the Australian energy Statements, the report of the board of company also plans to build another new The company achieved a net profit of many investment opportunities market and invest in wind directors on company’s activities, the financial plant in 2027, similar to the Ras Abu Fontas QR1,158m for the year 2020. and entered into negotiations energy projects. `P2 Qatargas completes NFB Living Qatar’s sports sector offers huge opportunities for firms DEEPAK JOHN Management & Intelligence Director, THE PENINSULA Aspire Zone Foundation said, “Qatar is Quarters Expansion project in a very strong position in terms of THE PENINSULA — DOHA activities on the Living Quarters Expansion Qatar’s sports sector offers huge oppor- sports and business. There are strong project were carried out safely and involved tunities not only because of upcoming ties between Qatar and Russia related Qatargas Operating Company Limited 2.98 million man-hours, with a peak man- FIFA World Cup 2022 but many other to sports and World Cup specifically. (Qatargas) yesterday announced completion power level of 900 people. major sport events slated to happen And these ties are rising due to strong of its North Field Bravo (NFB) Living Commenting on this milestone after the football world cup, said a panel participation of QFC by bringing busi- Quarters Expansion project which provides project, Khalid bin Khalifa Al Thani, Chief of experts in a webinar. nesses to Qatar.” an additional 90-person accommodation Executive Officer, Qatargas, said: “I am Qatar Financial Centre (QFC) in col- “Qatar is a business and sports hub facility to the NFB Offshore Operations. pleased to announce the completion of laboration with the Qatari-Russian not only because of FIFA World Cup The project’s scope included a four- this significant project which saw, for the Center for Cooperation (QRCC) 2022 which is just the beginning. There legged jacket and piles weighing approxi- first time in the State of Qatar, a major organized a webinar on, ‘Emerging are a lot of sports events that are hap- mately 2,200 tonnes to support the addi- offshore platform fabricated locally at the Opportunities in Sports: Qatar & Russia’ pening, and will happen as the 2030 tional living quarters platform weighing Erhama Bin Jaber Al Jalahma shipyard and ‘How to succeed in Qatari sports to large Russian corporations, SMEs and Asian Games are coming. Therefore, approximately 2,800 tonnes. The structure (NKOM). The safe delivery of this project market’. The event shed light of Qatar’s start-ups and discussed about the there will be plenty of market and consists of five decks, a fully equipped is a testament to the commitment of Sport market and discussed opportu- potential collaboration with Qatar which opportunities beyond FIFA World Cup helideck and six bridge links to the existing Qatargas to quality and flawless execution nities on the road to 2022 and beyond. Russian companies can take advantage 2022. We at Aspire are going towards living quarters. The fabrication, construction, in developing state-of-the-art LNG facil- The event introduced opportunities of the unique sports environment. more than 20 events for sports every load-out, sail away and modification ities in the country.” `P2 in the sports sector in the Qatari market Kamel Badawy (pictured), Business year,” he added. `P2 02 BUSINESS TUESDAY 9 MARCH 2021 Barwa Real Estate gets nod for cash dividend of QR0.125 per share THE PENINSULA — DOHA on various aspects during the year, which the Group considers Barwa Real Estate Company held to be the pillars of its business. its Ordinary General Assembly The Group aims at increasing Meeting virtually yesterday. The revenues through achieving a meeting, chaired by Salah bin balanced mix of operational Ghanem Al Ali, Chairman of the projects that meet the needs of Board of Directors, approved the the real estate market in Qatar proposal of the Board of Directors and lower the potential of risks to distribute cash dividends at the linked to it. In addition to working rate of QR0.125 per share (12.5 on master plans and feasibility percent of the nominal value of studies for many new projects on the share) with a total of the existing lands of the Group, QR486.4m. as the Group owns a stock of land During the meeting, Salah bin that reaches an area of 7.7 million Ghanem Al Ali, Chairman of the square meters, 68 percent of Board of Directors, reviewed the which is inside Qatar, and the report of the Board of Directors, remaining 32 percent is in other which included a comprehensive regions around the world. overview of the company’s activ- The Group aims to rationalise ities, performance, consolidated operational, administrative and Salah bin Ghanem Al Ali, Chairman of Board of Directors, and other officials during Ordinary General Assembly Meeting of Barwa alRe financial statements for the year financing expenditures to achieve Estate Company held yesterday. 2020, as well as its future plans. the maximum possible benefit He said Barwa Real Estate without affecting the quality of was able to face the challenges performance and achievements years. Management company. This res- The Group has continued the the projects and services imposed by the COVID-19 pan- during the year 2020, He said Construction works have idential project strengthens the development of its operational provided. demic. The majority of its that the total assets of the Group been launched in each of the Group’s cash position, as well as real estate portfolio to include: Abdulla Jobara Al Romaihi, financial indicators were better reached a value of QR33.2bn, an Madinatna project, which is a res- achieves growth in revenue levels 8,148 residential units, 37,300 Group CEO of Barwa Real Estate, than the previous year, due to the increase of QR1.2bn on December idential city for families, as well from real estate sales. residential rooms for workers, commented that the group has tremendous efforts made by the 31, 2019, and the total equity of as in the Barahat Al Janoub The Group completed the 336,552 square meters for shops, adopted a comprehensive members of the Board of the shareholders of the parent project, which is a residential city development and operation of showrooms and offices, 445,779 business strategy with precise Directors, the executive man- company reached a value of to for the working class, and both the entire first and second phases, square meters for workshops and measures to deal with the reper- agement and all the Group’s QR20.3bn. projects are located within Al in addition to the close to com- warehouses, and 701 hotel cussions of COVID-19 pandemic. employees. Barwa Real Estate won the Wakra Municipality. The two pletion of the third and final rooms. The average occupancy This plan has so far proven its During the fiscal year 2020, Public Works Authority’s tender projects will increase operating phase of the project, which led to rate has exceeded 90 percent in efficiency as it provides a suc- the Group also succeeded in for the development and main- revenues and enhance the sus- increasing the rental income many of the Group’s residential cessful model in overcoming the signing financing contracts worth tenance of 8 public schools for tainable growth of shareholder during the year 2020. projects. side effects which accompany the QR3.4bn, with the aim of refi- the Ministry of Education and returns. This is in addition to the com- As for the Group’s plans for pandemic. It’s also ensuring nancing existing credit facilities Higher Education, Package 1, The Group also started the pletion of construction work for the current year 2021, he business continuity, with no in a manner that contributes to which is the first Public-private sales activities for the units of the Second Phase of Al Khor explained that as the impact of interruption of any plans or strengthening the Group’s cash partnership (PPP). This Dara (A) project in Lusail city and Workers Sports Complex in the the Covid 19 pandemic continues projects. These exceptional cir- position during the coming investment guarantees rental delivering them to their owners first quarter of 2020, and the to take its toll on the global cumstances have in fact refined period. income from the government for during the year 2020, through leasing has started during the economy during the year 2021, our experiences to deal with dif- On the company’s the Group over a period of 25 our subsidiary Waseef Asset year. Barwa Real Estate is keen to work ferent variables. LCSC signs GAC Qatar Qatargas completes NFB Living Quarters Expansion project FROM PAGE 1 that have contributed to this as logistics partner He added that a dedicated momentous milestone as well as team of experts from Qatargas’ our shareholders for their con- THE PENINSULA — DOHA shipments by air and sea to Project Management, Operations tinued support and valuable follow. Expansion & Startup (OES) and contribution.” GAC Qatar has been appointed “GAC has been the Logistics Offshore Operations depart- The original NFB accommo- as the Third Party Logistics Provider to Losail Circuit Sports ments, together with their dation, installed in 1995, was (3PL) Partner for Losail Circuit Club for over ten years, deliv- partners Rosetti Marino (EPIC designed for the operational Sports Club (LCSC), which hosts ering efficient and seamless Contractor), NKOM (Fabrication needs of Qatargas Trains 1 and prestigious international logistics solutions to the Club Contractor for EPIC Contractor), 2. The offshore accommodation motorsport events such as the and the various international and Heerema Marines (Trans- expansion project was initiated Grand Prix of Qatar and Grand motorsport events hosted at the portation & Installation Con- to cater for the changes in the Prix of Doha. Circuit from 2004 to 2016,” said tractor), had worked excep- operational requirements fol- The work and planning for Daniel Nordberg, GAC Qatar’s tionally well to overcome various lowing various expansion the 2021 races, due to take General Manager. “Our team is challenges, including those posed projects. Modifications were place at the Losail International all revved up and ready to kick- by the COVID-19 pandemic, to also done on the existing living Circuit in Doha on 28 March start the 2021 season with reach this major milestone. “I quarters and platform to and 4 April, are already fully LCSC.” would like to thank everyone properly integrate the new LQX Project underway. GAC Qatar will GAC Qatar is a leader in from the various Qatargas groups additional living quarters. handle the customs clearance, sports logistics, having been the transportation and freight Official Logistics Partner for the services for all cargo including Doha Asian Games in 2006 and Qatar’s sports sector offers huge opportunities for firms Nebras Power bikes, spares, tyres, fuel, gar- Pan Arab Games in 2011. It con- FROM PAGE 1 ments, broadcasting equipment tinues to invest in its assets and Sports promotion, Sports moves ahead and merchandise. GAC will also develop its service offerings to He stressed, Doha is full of Investing in sports sector is part financing etc. with global plans provide the logistics workforce add value to its sports logistics opportunities and this is related of QFC’s strategy to enhance the Heba Almasri, Managing and Materials Handling customers. to sports, not only the World Cup Director, Qatar SportsTech said, contribution to the local FROM PAGE 1 Equipment (MHE) to ensure Established since 1979, the but sports in general. Qatar is economy. Qatar is positioning sports is definitely a big factor in smooth running of the opera- company is Qatar’s leading awarded the 2030 Asian Games the growth of Qatar and Qatar Nebras Power has tions at the Circuit. Two dedi- customs clearance agent with which shows that it is always itself as regional hub for sports National Vision 2030. Currently, also embarked on cated aircraft charters will be an in-house team of 30 going to be a sports destination. with the state-of-the-art the development and growth in expanding its operations handled by the GAC Qatar customs brokers covering all There are different kinds of com- infrastructure, and organising infrastructure is in line with in Brazil by studying new sports logistics team, with more Qatari ports. panies that the market is looking more than 100 sporting events sports. investment opportunities. for to provide services like sus- yearly and upcoming FIFA World She said, there are lot of ini- The company has tainability, sports performance tiatives that are open and willing reviewed many and wellness, fan engagement, Cup 2022. to help in growth of sports. Qatar investment opportunities event and venue management, SportsTech (QST) is the only and entered into negoti- e-sports, data, and business accelerator program in the region ations with investors insights, he added. regional hub for sports with the that specifically focuses on sports around the world during He highlighted that Qatar state-of-the-art infrastructure, technology. the year and these efforts provides opportunities for sports and organising more than 100 QST brings international are expected to add new tech and sports companies as this sporting events yearly and companies from around the assets to its investment hub is within the sports accel- upcoming FIFA World Cup 2022.” world with our partners QFC and portfolio in 2021. erator to showcase product and She added, Qatar has created Aspire Zone, helps them to find The company is services. a market full and rich of digital their home in Qatar and grow working to reach Laila Khalil Al Jefairi, Vice opportunities across the sports their business regionally and glo- developing markets President, Business Devel- landscape. In digital sports we are bally. There are different pro- and improve the opment, QFC said, “Investing in aiming to attract e-sports, grammes that help with men- (energy, technology) sports sector is part of QFC’s e-gaming, and digital fan torship, investment, office space, mix in its portfolio in strategy to enhance the contri- engagement. And non-sports workshops, and platforms to terms of renewable and bution to the local economy. technology hub companies such learn and accelerate in Qatar, she natural gas-based GAC Qatar staff unloading containers at Losail Circuit Sports Club. Qatar is positioning itself as as Sports event management, added. resources. American Air borrowing $7.5bn in loyalty-backed debt Turkey to target African

BLOOMBERG pricing on the loan is being discussed at Inc., which is leading the bond sale, was a spread of 500 to 525 basis points over sounding out potential investors earlier market with virtual fair American Airlines Group Inc. is kicking the London interbank offered rate, plus this year for the deal, Bloomberg reported ANADOLU — ANKARA In 2020, a total of 12 virtual off a $7.5bn sale of bonds and leveraged an original issue discount of 98 cents on in February, after helping United Airlines programs were organized in loans backstopped by its frequent-flyer the dollar with a 1 percent Libor floor, the Holdings Inc. with a similar debt offering Turkey is aiming to introduce coordination with the Trade program, capitalizing on low borrowing people added. in June. many products to African Ministry and Turkey Exporters’ costs to repay US government loans that American opted to refinance the Representatives for Barclays and importers through the African Assembly (TIM) and 252 pro- have helped it navigate the pandemic. Treasury loan with debt in an amortizing Goldman Sachs declined to comment. The Virtual General Trade Delegation ducer and exporter companies The carrier is marketing two $2.5bn structure, which allows the company to bond sale is in marketing through March program for female exporters, held 1,873 meetings with 791 series of notes maturing in 2026 and pay back it in pieces leading up to 10 and expected to price thereafter. which will be held this month in foreign importer companies. 2029, and a term loan credit facility of maturity rather than all at once. The new American’s AAdvantage loyalty coordination with the Trade Following the Ghana and the same amount due in 2028, according financing gives American greater flexi- program has an assessed value of $18bn Ministry. Virtual General Trade Qatar-Oman Virtual General to a news release. The new debt, which bility and also potentially increases the to $30bn, the carrier said in May, when Delegation programs were put Trade Delegation programs held is secured against the company’s loyalty borrowing capacity of the AAdvantage it was negotiating with the Treasury into practice under the lead- in January and February this program, will help refinance American’s program, a company spokesman said. Department to use at least part of the ership of Trade Minister Ruhsar year, the Africa Virtual General $7.5bn Treasury loan, of which $550m The airline is returning to the market asset as collateral for the loan. The carrier Pekcan as a result of travel Trade Delegation program will has been drawn to date, according to an at a ripe time for borrowers. Funding costs mortgaged its brand with $1.2bn in com- restrictions and measures be held for women exporters investor presentation Monday. are at historically low levels and risk mitted financing from Goldman Sachs in against the novel coronavirus. from March 8-15. Early pricing discussions are in the appetite has been soaring as investors July. The General Trade Dele- Turkey’s trade volume with low-to-mid 6 percent range for the five- rush to get their hands on higher-paying American has about $3.6bn in unen- gation programs, which were Africa totaled $5.4bn in 2003 year notes, and the mid-to-high 6 percent assets. American borrowed $2.5bn in June cumbered assets and additional first lien transferred to the digital envi- and reached $25.3bn in 2020. range for the eight-year portion, at an all-in yield of 12 percent. debt capacity of $7.2bn, according to the ronment, continue to be one of While exports to the continent according to people familiar with the Barclays Plc is leading the loan deal presentation. It said its overall cost of debt the most important mechanisms totaled only $2.1bn in 2003, matter, who asked not to be identified and held a call with potential lenders is around 4 percent and has an estimated for bringing exporters and they reached $15.2bn at the end discussing a private transaction. Initial earlier yesterday. Goldman Sachs Group $15 billion of liquidity. potential buyers together. of last year. TUESDAY 9 MARCH 2021 BUSINESS 03 Tech weighs on stocks as yields ring inflation alarm

REUTERS — MILAN showing nonfarm payrolls combat upward pressure on Analysts expect an acceleration in surged by 379,000 jobs last yields through both action and World shares dipped yesterday inflation, stoked in part by the month and the jobless rate words. The action should show as the US Senate’s passage of a latest spike in oil prices, which dipped to 6.2 percent, in a pos- up in today’s release of PEPP $1.9 trillion stimulus bill put fresh itive sign for incomes, spending (pandemic emergency purchase yesterday briefly climbed above pressure on Treasuries and tech and corporate earnings. programme) purchase data,” stocks with lofty valuations, $70 for the first time since the US Treasury Secretary Janet UniCredit strategists said in a raising inflation jitters. pandemic began. Yellen tried to ease inflation con- note. Those concerns over- cerns by noting the true unem- On foreign exchange shadowed the prospect of the ployment rate was nearer 10 markets, the dollar index shot up stimulus giving another boost to stocks and worries China could percent and there was still plenty to levels not seen since late the world’s biggest economy and tighten policy to rein in pricey of slack in the labour market. November. It was last at 92.28, helping global growth rebound valuations. Yet yields on US 10-year up 0.4 percent on the day and faster from the COVID-19 Nasdaq futures fell 1.2 Treasuries still hit a one-year well above its February trough downturn. percent in European trade, high of 1.626 percent after the of 89.67. Analysts expect an acceler- reversing early gains, and S&P data, and stood at 1.594 percent Oil prices rose to their ation in inflation, stoked in part 500 futures fell 0.4 percent as yesterday. highest levels in more than a year by the latest spike in oil prices, investors looked past the ben- German 10-year yields rose after Yemen’s Houthi forces fired which yesterday briefly climbed efits of the fiscal package. to -0.296 percent, resisting drones and missiles at the heart A trader exits the New York Stock Exchange (NYSE) after the trading above $70 for the first time since According to JPMorgan, pressure from rising US bor- of Saudi Arabia’s oil industry on day in New York, US, recently. the pandemic began. every $1 trillion of fiscal stimulus rowing costs amid caution before Sunday, raising concerns about “Between reflation, inflation adds around $4 to $5 to com- the European Central Bank production. Prices had already risk and equity valuations, there’s course remain a burning issue, “structurally dovish”. panies’ earnings per share, meeting on Thursday. been supported by a decision by plenty of reasons for the market in particular for overly rich The MSCI world equity index implying 6 percent to 7 percent Analysts expect no policy OPEC and its allies not to to be jittery over the bond re- sectors,” he also said. But he fell 0.2 percent by 1215 GMT. upside for the remainder of the change from the ECB but say it increase supply in April. Brent pricing,” said Natixis strategist added that sell-offs should be Gains in European financial year. could step up the pace of bond later pared most gains and rose Florent Pochon. seen as buying opportunities, stocks were not enough to offset Equity investors had taken purchases to contain yields. 0.3 percent to $69.6 a barrel. US “Equity valuations will of given that central banks remain losses in Asia on sliding tech heart on Friday from US data “We expect the ECB to crude added 0.3 percent to $66.8. Tesla to build Bailey urges ‘cautionary realism’ large battery for Texas grid about post-pandemic recovery

REUTERS — BENGALURU REUTERS — LONDON by the first quarter of 2022. Bailey said the expected Billionaire entrepreneur Elon ‘I’m innocent’, UBS bankers Bank of England Governor recovery would be helped by Musk will construct a large Andrew Bailey (pictured) the BoE’s ultra-low interest battery that will connect to the say at start of $5bn appeal painted a cautiously optimistic rates and its bond-buying pro- Texas grid, Bloomberg News picture for Britain’s economy gramme, “and in my view it reported yesterday. after the COVID pandemic and amply justifies our current The move marks Tesla's BLOOMBERG The outcome of the appeal did not expect a big jump in stance on monetary policy”. first major foray into the epi- should bring into sharp relief inflation, which his chief econ- He said the central bank’s centre of the US energy UBS Group’s appeal of a €4.5bn whose strategy - French pros- omist and some investors see task was to get inflation back economy. ($5.3bn) penalty began with the ecutors or UBS - was most suc- as a risk. up to its 2 percent target and A Tesla subsidiary registered Swiss lender and bankers in the cessful. UBS has set aside “If I had to summarise the hold it there, striking a dif- as Gambit Energy Storage is case proclaiming their inno- €450m in provisions for yes- diagnosis, it’s positive but with ends, Bailey said. ferent note to BoE Chief Econ- quietly building a more than 100 cence. terday’s case, indicating some large doses of cautionary Sunak’s budget also omist Andy Haldane who last megawatt energy storage project On the opening day of the confidence it can at least reduce realism,” Bailey said in a included measures to support month said an inflationary in Angleton, Texas, a town three-week appellate trial yes- the massive penalty. speech to the Resolution Foun- economic growth through sig- “tiger” had awoken. roughly 40 miles south of terday, the former bankers all The Swiss bank was con- dation, a think tank. nificant investment in infra- Yields on bonds issued by Houston. A battery that size responded the same way when victed two years ago of laun- A slowing of COVID infec- structure, skills and inno- governments in Britain and could power about 20,000 asked why they were contesting dering funds by providing tions and the “huge vation, he said, potentially other countries have climbed homes on a hot summer day. the guilty verdict in the case. French customers with banking achievement” of Britain’s easing one of the drags on sharply in recent weeks as Workers at the site kept “I appealed because I’m services - such as numbered vaccine programme meant Britain’s economy. investors price in higher equipment under cover and dis- innocent of the charges,” said accounts or by setting up trusts there was light at the end of But there was a lot of growth and inflation on the couraged onlookers, but a Tesla Hervé d’Halluin, who used to - to hide assets from tax author- the tunnel, he said. uncertainty about how much back of trillions of dollars of logo could be seen on a worker’s head UBS France’s Lille bureau. ities. UBS was found guilty of After suffering Europe’s the changes in the economy stimulus pumped into the hard hat and public documents While he was the first defendant covertly dispatching Swiss highest COVID death toll, and caused by the pandemic would global economy. helped confirm the company’s Presiding Judge Francois Rey- bankers across the border to the country’s biggest economic persist. “For the moment, I would role. grobellet quizzed, the four encourage prospective clients shock in 300 years, Britain has “We will work more from say - viewed from where we This comes days after a others repeated more or less to stash cash overseas. rolled out a fast COVID-19 home than we used to and are today - our task is to get mid-February storm tempo- word for word what d’Halluin After the opening state- vaccination programme which shop more online because new inflation up to target, frankly,” rarily knocked out around half told the court. ments on the reasons for the has reached more than 40 habits will persist to some Bailey said. “Our task... is to get the state’s generating plants, The UBS case is part of a appeal, lawyers for the bank percent of adults for a first degree, and to the extent they it towards target and hold it triggering outages that killed French crackdown on tax fraud and the former employees crit- shot. unwind it will be over a period there.” He said contingency dozens and pushed power and money laundering operated icised various aspects of the Finance minister Rishi of time,” Bailey said. work by the BoE for the pos- prices up to 10 times the normal through Switzerland that’s seen case, with d’Halluin’s attorney, Sunak’s decision last week to Last month, the BoE said sible future use of negative rate. In 2016, Tesla had won a the conviction of a former min- Thierry Marembert, com- extend his jobs support pro- Britain’s economy would interest rates, combined with contract to provide a 20-meg- ister and HSBC Holdings pay plaining about the validity of the gramme until the end of Sep- probably contract by 4 percent work on new guidance about awatt energy storage system at €300m to settle a case. UBS’s indictment. tember was likely to limit the in the first three months of how it might do the opposite a substation owned by Cali- record fine in February 2019 The presiding judge is peak in unemployment but 2021 before recovering rapidly and tighten policy, were a rec- fornia utility Southern Cali- came after the bank decided to expected to start questioning was unlikely to completely over the rest of the year to ognition of the “two-sided fornia Edison Co. go to trial rather than settle. defendants as soon as today. stop joblessness rising after it regain its pre-pandemic size nature of the risks we face”. Industrial output slows in Germany Japanese smart city offers residents REUTERS — BERLIN quake alert and privacy protection German industrial output fell unexpectedly in January as THOMSON REUTERS FOUNDATION researchers to tackle social and economic issues winter weather slowed including an ageing population and the impacts construction and semiconductor Digital tools launched in a Japanese smart city that of climate change, with technologies such as arti- shortages held back production can send disaster alerts to safeguard residents are ficial intelligence (AI). in the car industry, suggesting part of an optional technology push aiming to Appliance makers Panasonic and Hitachi, and that Europe’s largest economy overcome social and economic challenges, while messaging app LINE are among other companies got off to a weak start this year. also allaying privacy fears. working on smart cities in Japan. Data from the Federal Sta- The smartphone alerts were introduced in Toyota Motor broke ground last month on a tistics Office showed yesterday Aizuwakamatsu city, Fukushima prefecture, last new smart city near Tokyo, that the automaker that output in the industrial week by consultancy firm Accenture, which has said will be a “living laboratory” to test and develop sector, including manufacturing, worked with researchers to revitalise the city using autonomous vehicles, robotics, personal mobility construction and energy, was technology since a devastating earthquake in 2011. and AI for residents. down 2.5 percent on the month. Aizuwakamatsu residents can choose to sub- A Reuters poll had forecast an A customer pays for her purchases in a department store after the re-opening scribe to the digital services - a markedly different increase of 0.2 percent. The of certain businesses, as lockdown measures introduced due to the spread approach to the mandatory initiatives in other December figure was revised up of the coronavirus disease were eased, in Munich, Germany, yesterday. smart cities that have been held back by data to 1.9 percent from a previously privacy and surveillance concerns, said Shojiro reported unchanged reading. construction helped the German in mid-December to contain a Nakamura, co-lead of Accenture Innovation Center The drop in January, which economy to grow by a better- second wave of coronavirus Fukushima. “Opt-in is the fundamental approach ended an unusually long series than-expected 0.3 percent in the infections. in our smart city initiatives,” he told the Thomson of eight consecutive months of final quarter of last year, more Industrial orders data Reuters Foundation. “Most smart city data derives increases, was driven by a than offsetting a lockdown- released on Friday showed from citizens’ activities - energy usage, healthcare, plunge of more than 12 percent related drop in household orders for German-made goods etc - and the owner of the data is the citizen, even in construction. Manufacturing spending. rose by twice as much as if it is held by companies or clinics. So it is critical output fell by only 0.5 percent, But Carsten Brzeski from expected in January as the that citizens have control over the degree to which A woman cycles in front of the National Stadium, the ministry said. ING said the industrial output foreign demand more than offset their data is accessible,” he added. in Tokyo, Japan, recently. “Despite the measures taken data suggested it would be hard domestic weakness. Retail sales Other digital tools offered to residents of to contain the pandemic, output for industry to prevent the entire tumbled more than expected in Aizuwakamatsu are in the areas of mobility, edu- in manufacturing posted only a economy from falling into con- January as the COVID-19 cation, healthcare, and energy consumption. Cit- “Building a complete city from the ground up, small decline in January which traction once again. “The sharp lockdown and the withdrawal izens can opt in and share any degree of infor- even on a small scale like this, is a unique oppor- was mainly due to semicon- drop in activity in the con- of a temporary cut in sales tax mation they are comfortable with. tunity to develop future technologies,” Toyota pres- ductor shortages in the auto- struction sector... doesn’t bode hit consumer spending. Cities around the world are racing to embrace ident Akio Toyoda said at the ground-breaking motive industry,” the economy well for the coming months,” A gradual easing of coro- technology in a bid to improve urban life by col- ceremony at the site, a former auto factory. ministry said. Brzeski said. Most economists navirus curbs in the following lecting data to address problems such as traffic In China too, Alibaba Group Holdings, Tencent Machinery manufacturers expect the economy to shrink in weeks is likely to help gridlock, crime and waste management. Holdings and Baidu are among companies partic- recorded a noticeable increase the first quarter, then rebound household spending, which Global spending on smart cities initiatives was ipating in the government-led planning of more in output, it added. in the second. should boost overall economic estimated to hit nearly $124bn last year, according than 100 smart cities. “The further outlook for the Recent German data has output in addition to to the International Data Corporation (IDC), in a But while these initiatives have the potential industrial sector remains neutral painted a picture of a two-speed manufacturing. study released before worldwide lockdowns to to solve problems, discussions about smart cities for the time being,” the ministry economy in which export-ori- A survey showed last contain the coronavirus pandemic. in Japan are too “technology-oriented” and “effi- said. Strong foreign demand was ented manufacturers are doing month that consumer morale Japan and Latin America were forecast to see ciency-oriented”, said Yoshinori Hiroi, a professor offset by weak domestic demand well while domestically driven brightened heading into March the fastest growth in spending on smart cities. at Kyoto University. “More human elements should caused by measures to contain services are suffering under as shoppers became more opti- In Japan, smart cities became an area of focus be taken into account,” said Hiroi, an advisor at the COVID-19 pandemic, it said. lockdown measures imposed in mistic the lockdown could be after the 2011 earthquake and tsunami, with local Smart City Institute Japan, citing improvements to Solid exports and early November and tightened eased soon. governments partnering with businesses and the walkabilty of cities. 04 BUSINESS TUESDAY 9 MARCH 2021 Turkish Airlines posts strong results amid pandemic Stimulus unlikely to cause ANADOLU — ISTANBUL successful carrier in crisis man- inflation problem: Yellen agement, he stressed. Defying the pandemic to post We took a different stance than “Turkish Airlines saw the BLOOMBERG strong results, Turkish Airlines’ other companies in the world smallest drop among other air- operational and financial by closing out the year without lines in passenger numbers Treasury Secretary Janet Yellen results in 2020 pulled well during the pandemic with 62 (pictured) dismissed fears that ahead of its rivals, the national cash support from the percent,” Ayci said. President Joe Biden’s $1.9 flag carrier’s CEO said government and while not The carrier flew with a seat trillion pandemic-relief bill is yesterday. firing any of our employees. occupancy rate of 71 percent, so big that it will cause an “We took a different stance above the curve compared to inflation problem, as she seeks than other companies in the its rivals, he noted. to push the recovery deeper world by closing out the year Ilker Ayci “Compared to our rivals that into the US labor market to without cash support from the announced results for 2020, address long-standing government and while not Turkish Airlines posted the economic disparities. firing any of our employees,” and even then had to lay off its subsidiary Turkish Cargo, smallest annual revenue drop Yellen called the impact on Ilker Ayci told a press con- employees. Ayci said the freighter turned with 49 percent,” he said. women and minorities from ference in Istanbul. “All over the world, the the crisis into an opportunity The airline ended the year COVID-19 "absolutely tragic.” minorities,” Yellen said. The As COVID-19 hit the avi- bailouts provided to airlines and raised its market share to with a strong flight network of She has repeatedly rejected problem pre-dates the corona- ation sector hardest, Ayci exceeded $191bn,” he said. become sixth largest in the 165 international and 44 concerns that Biden’s stimulus virus but was "made immeas- said most airlines got cash Also praising the per- world. domestic destinations, he is excessive given the econ- urably worse by the support from government formance during this period of Turkish Airlines is the most added. omy’s signs of recovery, and pandemic.” that run-away inflation could The unemployment rate for damage the economy. Blacks, who have a dispropor- "I really don’t think that’s tionate share of lower-wage GameStop shares surge over going to happen,” she said yes- jobs and of union membership, terday on MSNBC. Inflation was double that of Whites 40% after Cohen tapped to before the pandemic "was too during much of the past 50 low rather than too high,” she years in part because policy lead e-commerce pivot noted. "If it turns out to be makers historically pulled back inflationary, there are tools to support just as the benefits of REUTERS — NEW YORK deal with that,” she said of the growth started reaching lower- Cohen, who is a major stimulus package. income workers -- to avoid Shares of GameStop Corp GameStop shareholder, has Treasury yields have soared runaway inflation. jumped over 40 percent been pushing GameStop to over the past month as Federal Reserve Chair yesterday after the world’s move away from its traditional investors built into their Jerome Powell has pledged largest video game retailer outlook a faster trajectory for not to allow the same tapped Chewy co-founder Ryan brick-and-mortar model since economic growth and prices in mistake to be repeated, Cohen to spearhead a new joining the board shortly the wake of the bigger-than- while his predecessor, committee to help its transition before a social media frenzy expected spending bill. Yellen, is preparing to turn to an e-commerce business. drove a meteoric rise in the Yellen said the most urgent from crisis-relief efforts to Cohen, who is a major action is the House’s vote jobs creation through what company’s stock. People walk past a GameStop store in the Manhattan borough of GameStop shareholder, has been Tuesday on passing the Sen- the administration calls a New York City, New York. pushing GameStop to move away ate’s revisions to pandemic- "build back better” program from its traditional brick-and- The stock surged more than relief bill. Speaker Nancy Pelosi that includes infrastructure mortar model since joining the 1,600 percent in January after a firm reached a settlement with which will comprise of board has predicted approval. spending. board shortly before a social wave of buying forced large GameStop in January, giving members Alan Attal and Kurt That legislation includes US payrolls remain down media frenzy drove a meteoric short-sellers betting against the Cohen seats on the company’s Wolf along with Cohen, will help enhanced unemployment ben- by more than 9 million com- rise in the company’s stock. company’s shares to unwind board. drive the latest e-commerce efits until Sept. 6 and stimulus pared with the peak before The latest rally comes on the their positions, before paring Stocks, including those of push. checks for those earning COVID-19 struck. The Black heels of several wild swings in the most of those gains the following AMC, headphone maker Koss GameStop’s sales through $80,000 or less, and it makes unemployment rate climbed to company’s share price from month. Corp and mortgage firm Rocket brick-and-mortar stores are student-loan relief tax-free. 9.9 percent in February even January. Since then, GameStop Last week, Cohen posted a Companies, were up between 10 under increasing pressure, as "We have a K-shaped as the overall rate fell to 6.2 has become one of the hottest and cryptic tweet of an ice-cream percent and 25 percent yes- more customers gravitate recovery going on, in which percent. most visible of “meme stocks” cone, with analysts speculating terday. GameStop shares were towards digital downloads of high-income people are doing Yellen reiterated her expec- that are closely followed on social on whether that was a trigger for up 31 percent at $181.50. console games, amid intensifying much better than those at the tation for the relief plan to media sites such as Reddit’s GameStop’s most recent rally. GameStop said its Strategic competition from videogame bottom of the economic ladder return the US to "full popular WallStreetBets forum. Cohen’s RC Ventures activist Planning and Capital committee, streaming services. -- low-wage workers and employment” next year.

QATAR STOCK EXCHANGE

QNBK - QNB 16.68 16.87 16.68 16.89 30,515 16.86 16.75 85,349 16.75 16.75 +0.07 +0.42 1,454 3,839,777 64,595,613.64 QIBK - Qatar Islamic Bank 15.72 15.89 15.73 15.95 59,098 15.8 15.73 79,258 15.73 15.73 +0.01 +0.06 345 718,429 11,358,042.39 CBQK - Comm. Bank of Qatar 4.325 4.37 4.25 4.40 5,500 4.333 4.28 29,656 4.28 4.280 -0.04 -1.04 244 3,486,646 15,014,490.62 DHBK - Doha Bank 2.28 2.299 2.261 2.309 22,108 2.309 2.283 13,112 2.309 2.309 +0.029 +1.27 36 287,121 660,105.526 ABQK - Ahli Bank 4.00 3.85 3.85 3.85 4,669 4.0 3.611 10,000 3.85 0.00 -0.15 -3.75 1 5,000 19,250.00 QIIK - Intl. Islamic Bank 8.491 8.50 8.48 8.59 13,578 8.579 8.55 47,096 8.55 8.55 +0.06 +0.69 348 1,075,712 9,199,230.96 MARK - Rayan 4.16 4.170 4.141 4.183 120,921 4.168 4.158 28,369 4.168 4.168 +0.008 +0.19 559 2,538,655 10,579,254.737 KCBK - Al khalij Commercial Bank 2.09 2.12 2.09 2.12 45,000 2.109 2.09 1,950 2.09 2.09 0.00 0.00 5 28,100 58,730.40 QFBQ - Qatar First Bank (QFC) 1.812 1.810 1.797 1.820 30,727 1.807 1.802 1,259,158 1.802 1.802 -0.010 -0.55 51 982,443 1,770,662.152 QETF - QE Index ETF 10.038 10.076 10.08 10.27 66,088 10.27 9.603 10,413 10.08 10.081 +0.04 +0.42 15 138,811 1,411,086.50 QATR - Al Rayan Qatar ETF 2.35 2.301 2.301 2.365 7,100 2.365 2.315 4,400 2.365 2.377 +0.015 +0.64 6 11,900 27,792.600 QATI - Qatar Insurance 2.31 2.310 2.302 2.349 12,680 2.339 2.325 250,000 2.339 2.339 +0.029 +1.26 96 1,778,601 4,135,683.574 DOHI - Doha Insurance 1.91 1.950 1.930 1.950 43,000 1.948 1.93 66,245 1.948 1.95 +0.038 +1.99 20 1,055,765 2,057,662.630 QLMI - QLM 4.948 4.90 4.80 5.10 3,455 4.998 4.95 48 4.95 4.950 0.00 +0.04 141 1,290,877 6,434,290.44 QGRI - General Insurance 2.133 2.178 2.156 2.284 3,622 2.275 2.161 34,457 2.161 2.161 +0.028 +1.31 12 65,099 140,929.590 AKHI - Alkhaleej Takaful 2.648 2.694 2.602 2.694 21,472 2.636 2.604 69,080 2.604 2.604 -0.044 -1.66 63 540,575 1,423,888.767 QISI - Islamic Insurance 7.30 7.262 7.25 7.58 13,500 7.58 7.401 4,000 7.58 0.00 +0.28 +3.84 17 123,840 920,280.60 QAMC - QAMCO 1.097 1.097 1.097 1.128 12,000 1.105 1.101 109,388 1.105 1.105 +0.008 +0.73 380 9,191,902 10,193,257.628 QIMD - Ind. Manf. Co. 2.892 2.889 2.887 3.095 70,110 3.047 2.903 8,000 3.047 3.047 +0.155 +5.36 33 266,243 793,336.021 QNCD - National Cement Co. 4.444 4.44 4.44 4.60 30,000 4.589 4.55 47,911 4.55 4.55 +0.11 +2.39 188 2,084,142 9,467,141.43 ZHCD - Zad Holding Company 14.65 16.11 16.11 16.11 0 0.0 MP 591,191 16.11 0.00 +1.46 +9.97 64 253,170 4,078,568.70 IQCD - Industries Qatar 11.41 11.75 11.50 11.75 7,122 11.75 11.66 6,678 11.66 11.66 +0.25 +2.19 312 1,532,329 17,882,911.08 UDCD - United Dev. Company 1.531 1.531 1.522 1.577 50,000 1.544 1.541 50,000 1.544 1.54 +0.013 +0.85 200 2,978,781 4,630,000.580 QGMD - Qatar German Co. Med 3.088 3.09 3.00 3.10 34,541 3.05 3.022 1,000 3.05 3.05 -0.04 -1.23 161 1,630,610 4,993,035.27 QIGD - The Investors 1.795 1.785 1.785 1.810 237,944 1.798 1.787 11,320 1.798 1.798 +0.003 +0.17 115 1,990,600 3,569,551.573 ORDS - Ooredoo 6.857 6.92 6.66 6.92 6,808 6.84 6.73 6,286 6.73 6.730 -0.13 -1.85 547 1,720,689 11,681,017.26 QEWS - Electricity & Water 17.46 17.69 17.40 17.76 10,000 17.72 17.4 25,134 17.40 17.40 -0.06 -0.34 258 999,527 17,688,719.77 SIIS - Salam International 0.609 0.609 0.609 0.619 215,416 0.618 0.616 862 0.618 0.618 +0.009 +1.48 304 18,964,446 11,633,245.350 BLDN - Baladna 1.722 1.722 1.675 1.745 26,000 1.686 1.685 211 1.685 1.685 -0.037 -2.15 483 16,635,023 28,221,747.232 NLCS - National Leasing 1.243 1.242 1.239 1.255 754,433 1.247 1.246 20,000 1.247 1.247 +0.004 +0.32 191 4,611,982 5,759,338.028 QNNS - Qatar Navigation 7.307 7.35 7.33 7.39 55,018 7.35 7.34 30,000 7.35 7.35 +0.04 +0.59 61 318,503 2,343,956.38 MCGS - Medicare 9.346 9.213 9.199 9.400 12,595 9.199 9.111 3,000 9.199 9.20 -0.147 -1.57 77 365,428 3,406,258.739 QCFS - Cinema 3.85 0.00 0.00 0.00 50,000 3.8 3.601 4,145 3.85 0.00 0.00 0.00 0 0 0.00 QFLS - Qatar Fuel 17.10 17.20 17.10 17.35 6,689 17.25 17.18 11,839 17.18 17.18 +0.08 +0.47 492 493,763 8,511,664.12 WDAM - Widam 5.822 5.822 5.75 5.83 11,548 5.8 5.79 3,000 5.80 0.000 -0.02 -0.38 67 650,321 3,765,228.06 GWCS - Gulf warehousing Co 5.01 5.011 5.010 5.048 3,733 5.04 5.011 6,621 5.011 5.011 +0.001 +0.02 19 85,758 429,670.003 QGTS - Nakilat 3.195 3.19 3.19 3.25 7,846 3.223 3.19 109,191 3.19 3.190 -0.00 -0.16 351 2,619,086 8,383,929.19 DBIS - Dlala 1.76 1.777 1.703 1.810 41,767 1.735 1.712 310,667 1.712 1.712 -0.048 -2.73 166 3,084,683 5,383,518.963 BRES - Barwa 3.26 3.27 3.25 3.30 15,042 3.302 3.3 558,971 3.30 3.300 +0.04 +1.23 475 5,942,010 19,483,616.52 MCCS - Mannai Corp. 2.98 2.950 2.950 3.059 19,815 3.038 3.037 100 3.038 3.038 +0.058 +1.95 73 325,561 984,901.668 AHCS - Aamal 0.936 0.942 0.940 0.965 15,000 0.948 0.944 227,594 0.944 0.944 +0.008 +0.85 351 13,035,668 12,409,517.948 QOIS - Qatar Oman 0.898 0.911 0.900 0.929 263,573 0.907 0.903 86,401 0.907 0.907 +0.009 +1.00 162 7,296,963 6,646,691.916 ERES - Ezdan Holding 1.56 1.569 1.550 1.570 50,000 1.56 1.551 236,002 1.551 1.551 -0.009 -0.58 136 3,060,637 4,770,786.448 IHGS - Inma 5.032 5.070 4.981 5.070 288 5.0 4.987 567 4.987 4.987 -0.045 -0.89 34 224,265 1,120,509.168 GISS - Gulf International 1.503 1.505 1.500 1.520 132,937 1.514 1.501 90,468 1.501 1.50 -0.002 -0.13 174 5,067,030 7,641,418.564 MPHC - Mesaieed 1.871 1.885 1.880 1.929 600 1.905 1.901 129,564 1.901 1.901 +0.030 +1.60 405 7,126,435 13,560,968.476 IGRD - Investment Holding 0.677 0.681 0.680 0.718 1,880,000 0.719 0.718 8,992,609 0.718 0.718 +0.041 +6.06 1,135 122,663,475 85,414,936.428 VFQS - Vodafone Qatar 1.425 1.43 1.43 1.46 10,000 1.451 1.45 970,000 1.45 1.450 +0.02 +1.75 253 8,278,010 12,010,415.18 MERS - Al Meera 20.80 20.80 20.47 20.84 453 20.68 20.47 7,201 20.47 20.47 -0.33 -1.59 107 105,787 2,183,138.08 MRDS - Mazaya 1.202 1.204 1.20 1.22 53,000 1.211 1.21 35,000 1.21 0.00 +0.01 +0.67 182 5,590,744 6,781,765.32

QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES EXCHANGE RATE

08-03-2021 Index Day’s Close Pt Chg Chg % Currency Selling (QAR) Buying (QAR) QE Index 10,052.23 +0.48 % Index 10,052.23 Dow Jones Industrial Average 31,270.09 -121.43 -0.39% US$ 3.6500 3.6305 QE Total Return Index 19,686.87 +0.48 % Change +48.04 S&P 500 3,819.72 -50.57 -1.31% Australian Dollar AUD 2.87 2.8 Bangladeshi Taka BDT 0.047 0.043 QE Al Rayan Islamic Index - Price 2,330.22 +0.59 % % +0.48% Nasdaq Composite Index 12,997.75 -- --% YTD% -3.68 Canadian Dollar CAD 2.91 2.85 QE Al Rayan Islamic Index 4,235.54 +0.59 % 100 Index 6,600.16 -75.31 -1.13% Volume 267,354,706 Euro EUR 4.54.4 QE All Share Index 3,150.23 +0.56 % DAX Index 13,974.59 -105.44 -0.75% Value (QAR) 466,620,971.53 Indian Rupee INR 0.052 0.05 CAC 40 Index 5,804.78 -25.28 -0.43% QE All Share Banks & Trades 11,389 Japanese Yen JPY 0.0348 0.0341 Nepalese Rupee NPR 0.033 0.031 Financial Services 4,092.71 +0.21 % Up 32 | Down 16 | Unchanged 1 Nikkei Stock Average 225 28,930.11 -628.99 -2.13% QE All Share Industrials 3,243.01 +1.55 % Hang Seng Index 29,236.79 -643.63 -2.15% New Zealand Dollar NZD 2.65 2.55 04-03-2021 Pakistani Rupee PKR 0.02326 0.02299 QE All Share Transportation 3,410.54 +0.14 % Shanghai Composite Index 3,503.49 -73.41 -2.05% Index 10,004.19 Philippine Peso PHP 0.0785 0.076 ASX All Ordinaries Index 7,000.60 -67.30 -0.95% QE All Share Real Estate 1,834.21 +0.78 % Change -40.26 Pound Sterling GBP 5.25.08 QE All Share Insurance 2,410.56 +1.40 % % -0.40% GOLD AND SILVER South African Rand ZAR 0.243 0.235 QE All Share Telecoms 985.20 -0.85 % YTD% -4.14 Sri Lankan Rupee LKR 0.0197 0.0185 Volume 216,503,841 QE All Share Consumer GOLD QR211.50 per gramme Swedish Krona SEK 0.435 0.4 Value (QAR) 466,704,223.02 Goods & Services 7,802.34 +0.77 % Swiss Franc CHF 4.08 4 Trades 11,656 SILVER QR3.19 per gramme Turkish Lira TRY 0.54 0.49