BUSINESS

Saturday 22 September 2018 PAGE | 15 PAGE | 15 S Africa unveils raft Trade war hits of reforms to revive eurozone growth: moribund economy Markit survey

Your Global Remittance Partner Currency TT Rate Currency TT Rate Currency TT Rate Currency TT Rate QAR/INR : 19.69 QAR/PHP : 14.74 QAR/LKR : 46.00 QAR/BDT : 22.94 EUR/QAR : 4.40 GBP/QAR : 4.92 CAD/QAR : 2.92 AUD/QAR : 2.75 CHF/QAR : 3.92 SGD/QAR : 2.75 KWD/QAR : 12.25 OMR/QAR : 9.55 MAIN BRANCH LULU HYPER MARKET SANAYYA (STREET 17) AL KHOR PH: 44441448 PH: 44650768 PH: 44510088 PH: 44213444 MATAR QADEEM MANSOURA - AL MEERA ABU HAMOUR BIN OMRAN - ALMEERA PH: 44655559 PH: 44357552 PH: 44621271 PH: 44162002 alzamanexchange www.alzamanexchange.com 44441448 Qatar capital inflows rebound in 2018: IIF THE PENINSULA The upturn is due Downside risks remain sig- mainly to a strong nificant. The most immediate DOHA: A strong rebound in rebound in inflows to risk relates to US-China trade capital inflows to Qatar was the tensions given the strong trading key driver to the overall rise in Qatar, from outflows links between China and many the non-resident capital flows of $23bn in 2017 to frontier economies. Continued to a ‘group of 26 countries’ in some $20bn this year. escalation could prompt a much 2018, estimated at $145bn, up more cautious investor stance, from about $125bn in 2017. weighing on portfolio, banking This amounts to over 5 in “other investment” flows, from and trade-related flows to FMs. percent of the Frontier Market $29bn in 2017 to over $60bn in Continuing US dollar (FM) GDP—higher than the 3-4 2018, again largely reflecting the strength into year-end could percent we see for larger strong recovery in banking- push global portfolio allocations Emerging Markets…The upturn related flows to Qatar. still further towards US secu- is due mainly to a strong However, for other frontier rities, at the expense of riskier rebound in flows to Qatar, from markets these flows are set to FM (and EM) assets. Commodity Online luxury goods hub Farfetch’s IPO outflows of $23bn in 2017 to decline by some $14bn to $37bn price volatility is also a concern: Online fashion house Farfetch’s CEO Jose Neves (fourth left) and members of the company’s some $20bn this year, Institute this year,” IIF said. while higher energy prices leadership team ring the opening bell to celebrate their IPO at the New York Stock Exchange in of International Finance (IIF) Reflecting contagion from remain supportive for oil noted. the broader EM world, fund exporters, weakness in agricul- New York, US, yesterday. IIF’s Frontier Market flows to FM bonds and stocks tural prices could weigh on includes 26 countries, covering have tapered off significantly investment flows to FMs. five in the Middle East region. this year. Political and geopolitical risks Excluding Qatar, non-resident Following years of robust remain significant. The capital flows to these 26-group portfolio debt inflows, there has upcoming US midterm elections countries are projected to been a sharp reversal in debt highlight the risk of further pro- Opec, non-Opec states study new oil output boost decline by nearly 20 percent to flows in recent months. With tectionist rhetoric and measures, REUTERS some $120bn in 2018. central bank liquidity continuing which could prompt still more Petroleum Exporting Countries, The current discussions are With trade-related tensions to ebb, IIF now expects nonres- volatility in EM/FM portfolio and Russia and other allies agreed a not finalised yet, but it would mean a significant headwind for FDI ident portfolio debt flows to FMs banking flows. ALGIERS: Opec and non-Opec deal in late 2016 to cut supply but that oil producers would need to flows across frontier (and EM) to decline from an all-time high Further US sanctions, countries are discussing the possi- after months of cutting by more lower compliance to below 100 markets, IIF forecasts that FDI of $30bn in 2017 to $20bn in including on Russia and Iran, bility of raising output by 500,000 than what the pact called for, they percent, the source said yesterday. flows will remain broadly stable 2018. It also projects non-res- would represent another barrels per day to counter falling agreed in June to boost output by Opec and its non-Opec allies will at $50bn in 2018—but well below ident portfolio equity flows to important downside risk, par- supply from Iran due to US sanc- returning to 100 percent com- gather in Algeria over the weekend the $68bn seen in 2016. decline by some $1bn to near ticularly for cross-border trade tions. pliance. That equals roughly to an to review compliance with existing “We do expect a strong rise $3.5bn in 2018. and banking flows. The Organization of the increase of 1 million bpd. production cuts.

Canada annual Lord Mayor of the City of London visits QFC inflation rate Bowman (pictured), Lord Mayor of London. The QFC currently that it will invest QR23.5bn in the London can potentially collab- of the City of London to its hosts over 80 British firms on its UK economy through various orate on in the near future. We dips to 2.8% premises on Thursday. platform; this includes entities investment funds and relevant look forward to continuing to REUTERS During the visit, the Lord such as Barclays, Clyde & Co, parties in Qatar over the next 3-5 work together.” Mayor met with senior QFC rep- Eversheds and Pinsent Masons. years. The QFC is an onshore juris- resentatives, including Sarah Al- The UK is the fourth largest Sarah Al Dorani added: “The diction, allowing companies to OTTAWA: Canada’s annual Dorani, Chief Marketing & Cor- exporter to Qatar. In 2016, UK UK and the City of London are operate in and from Qatar within inflation rate dipped to 2.8 porate Communications Officer, exports to Qatar amounted to key strategic partners for the QFC the QFC legal and tax envi- percent in August from 3 Raed Al Emadi, Chief Commercial nearly QR11.2bn registering a and we proudly continue to ronment. The QFC endeavours to percent in July, the seventh Officer and Henk Jan Hoodeen- growth of 21.7 percent compared welcome more British firms to promote Qatar as an attractive consecutive month it has doorn, Managing Director, to 2014. The Qatari government our platform. We were delighted business destination. Companies exceeded the Bank of THE PENINSULA Financial Sector Office. also has more than QR140bn in to host The Right Honourable that wish to establish a business Canada’s 2 percent target, The meeting comes as part of investments in the UK, this Charles Bowman, Lord Mayor of in the QFC are guided throughout Statistics Canada data indi- DOHA: The Qatar Financial the QFC’s commitment to further includes stakes in BAA, Sains- the City of London at the Qatar by a dedicated QFC relationship cated yesterday. Centre (QFC), one of the world’s reinforce the strong historical bury’s, Barclays, London Stock Financial Centre. The meeting manager who assists in the The central bank said this leading and fastest growing relationship that exists between Exchange, Harrods and The was very positive and we dis- process of obtaining a license and month the inflation rate onshore business and financial the UK and Qatar and to continue Shard. cussed a number of areas offers support in matters related should move back toward 2 centres, welcomed Charles to enhance relations with the City In 2017, Qatar announced whereby the QFC and the City of to operating a business in Qatar. percent in early 2019 as the effects of past increases in gasoline prices dissipated. Statscan’s data showed that gasoline prices had WTO to review China bid to slap trade sanctions on US increased by 19.9 percent over August 2017, down from AFP Dispute Settlement Body con- yesterday’s meeting that a drawn-out process, and the international trade rules as long the 25.4 percent y-o-y jump vened to discuss developments measures taken by Washington results are not expected to be as they adhere to strict conditions, in July. GENEVA: A World Trade Organ- in a five-year-old trade dispute had “seriously infringed China’s known for months. and disputes over their use are The price of non-durable ization arbitrator is set to review between the world’s top two legitimate economic and trade China initially filed its dispute often brought before the WTO’s goods also increased at a a Chinese request to impose more economies. Beijing had already interests.” A source close to the against the United States back in Dispute Settlement Body. more moderate pace, than $7bn in annual sanctions on warned earlier this month that it WTO meanwhile said that the December 2013, taking issue with In this specific case, China climbing by 3.8 percent from the United States over anti- planned to ask the global trade arbitration “was automatically the way Washington assesses alleged that the US was con- August 2017 compared with dumping practices, a Geneva body during the meeting for per- triggered after the US informed whether exports have been tinuing a practice known as 4.4 percent in July. trade official said. mission to impose $7.04bn in the WTO that it objected to the “dumped” at unfairly low prices “zeroing”, which calculates the All of the central bank’s The decision to appoint an annual trade sanctions on Wash- level of retaliation proposed by onto the US market. price of imports compared to the core inflation measures were arbitrator was reached during a ington in the case. China.” The use of anti-dumping normal value in the United States 2 percent or higher, for the special meeting of the WTO China’s representative told WTO arbitration can often be duties are permitted under to determine predatory pricing. first time since February 2012. SATURDAY 22 SEPTEMBER 2018 BUSINESS 15

S Africa unveils raft of reforms Turkish Airlines MarketWatch sees highest to revive moribund economy load factor in QSE FTSE100 DOW BRENT August 9,766.33 7,490.23 26,755.72 $70.11 Ramaphosa’s five- Ramaphosa meanwhile announced a large-scale infra- -39.07 PTS +122.91 PTS +98.74 PTS -0.11 point plan centres THE PENINSULA 0.40% 1.67% 0.37% Dow & Brent before going to press around re-allocating structure investment plan for 400bn rand. 50bn rand of public “Infrastructure expansion DOHA: Turkish Airlines spending to kickstart and maintenance has the achieved the highest monthly economic activity and potential to create jobs on a load factor (LF) in its history Trade war hits eurozone create jobs. Priority large scale, attract investment in August 2018 with 85.6 and lay a foundation for sus- percent. On top of the strong investment areas tainable economic expansion,” base effect of August 2017, growth: Markit survey include agriculture, he said. Labour unions wel- growth in the number of comed the proposed passengers, revenue per small businesses in AFP the townships and the interventions. kilometer and load factor, is Ramaphosa announced an important indicator of the rural areas. several changes to South Africa’s continued growing interest in BRUSSELS: Growth in the visa system in a bid to attract Turkey and Turkish Airlines. eurozone economy lost steam more tourists and allow more According to August 2018 in September as European AFP highly-skilled foreigners to Traffic Results the passenger factories saw diminished enter the country. The changes growth trend continued in demand amid Brexit tremors attract foreign investment and are set to include visa-free travel August, thus total number of and the effects of a multi-front PRETORIA: President Cyril tackle soaring unemployment, for citizens of several more passengers carried went up by Trump trade war, a key survey Ramaphosa (pictured) which currently stands at about countries. 2.4 percent reaching 7.6 showed yesterday. yesterday unveiled a raft of 28 percent. There will also be an easing million passengers, and Load Data monitoring company measures as part of an economic His five-point plan centres of visa restrictions for minors -- Factor went up to 86 percent. IHS Markit warned that export Markit said the slowdown stimulus plan to boost investor around re-allocating 50bn rand potentially making it easier for In August, Total LF growth was “evaporating” in was driven by the manufac- confidence after South Africa ($3.5bn) of public spending to tourists seeking to travel to improved by 1.3 points, with a the 19-country single currency turing sector as new export entered a recession in the kickstart economic activity and South Africa with children, as minimal increase of 0.5 bloc, even though powerhouses orders failed to grow for the second quarter of this year. create jobs. well as for expats. percent in capacity (Available Germany and France continued first time since June 2013. The plan includes infra- Priority investment areas The Democratic Alliance, Seat Kilometer), while inter- to outperform. The “softening” in the PMI structure investment and easing include agriculture, small busi- the main opposition party, national LF increased by 1.1 The purchasing managers’ “adds to evidence that the of visa requirements in a bid to nesses in the townships and the bemoaned that the plan came points to 85.3 percent, index (PMI) by IHS Markit fell region’s economy has lost some create jobs in the lucrative rural areas. “too little too late to save the domestic LF increased by 2.4 to 54.2 in September, which momentum after 2017’s very tourism sector, which accounts “Our government has economy from recession”. points to 87.6 percent. was lower than forecasts by strong expansion,” said Jessica for 10 percent of the economy. limited budget fiscal space to The leftist Economic Excluding international-to- analysts. A figure over 50 indi- Hinds of Capital Economics. “The measures we are increase spending or borrowing, Freedom Fighters rubbished international transfer pas- cates the economy is expanding. Still, “as the index is still announcing give priority to it is imperative that we make Ramaphosa’s plan as “nothing sengers, number of interna- “A near stagnation of consistent with a decent pace those areas of economic activity sure that the resources that we new, but an attempt to tional passengers went up by exports contributed to one of of growth, the European Central that will have the greatest do have are used to the greatest repackage old neoliberal eco- 3.4 percent. the worst months for the Bank is unlikely to change its impact on youth, women as well effect,” he said. nomic plans that have proven In August, cargo/mail eurozone economy for almost plans to normalise policy very as small businesses,” Ram- The government under futile”. volume continued the double two years,” said Chris Wil- gradually,” she added. aphosa said in his offices in the Ramaphosa’s predecessor Jacob The conservative and pre- digit growth trend and liamson (pictured), Chief The dimmer outlook lines capital, Pretoria. Zuma was marred by a string of dominantly white Freedom increased by 21 percent, com- Business Economist at IHS up with the bleaker outlook of South Africa’s economy corruption scandals and poor Front Plus said no matter how pared to the same period of Markit. the ECB which slightly lowered tipped into recession as it shrunk public service delivery. good the plan looked on paper, 2017. Main contributors to the “Trade wars, Brexit, waning its growth forecast for the 0.7 percent in the second A public inquiry is currently it would not bring about growth, growth in cargo/mail volume, global demand (notably in the eurozone for this year and 2019. quarter, dealing a blow to Ram- under way probing allegations “as long as the ANC government are N. America with 32 percent auto industry)... and rising Amid the trade tensions as aphosa who came to office in that Zuma organised systematic continues to drive away increase, Europe with 24 political uncertainty both well as concerns about emerging February. plunder of government coffers investors with policies like (land) percent increase, Far East with within the Eurozone and further markets, the bank now expects He faces elections in 2019 in a scandal known as “state expropriation without 22 percent increase and Middle afield all fuelled the slowdown growth of 2 percent in 2018 and and has been on a drive to capture”. compensation”. East with 18 percent increase. in business activity,” he said. 1.8 percent in 2019. BREAK TIME CROSSWORD NOVO Pearl Qatar ROYAL PLAZA VILLAGGIO & CITY CENTER

Peppermint (2D/Action) 10:00am, 12:15, 2:30, 4:45, 7:00, 9:15 & The Hows of Us (2D/Tagalog) 5:00pm 11:30pm The Nun (2D/Horror) 10:00am 12:00noon, 12:30, 2:00, 2:45, 2 (2D/Tamil) 2:30, 8:15 & 11:00pm 4:00, 5:00, 6:00, 7:15, 8:00, 9:30, 10:00, 11:45pm & 12:00midnight Padayottam (Malayalam) 2:30pm Alpha (2D/Drama) 10:00am, 12:00noon, 2:00, 4:00, 6:00, 8:00, Battigul Meter Chalu (Hindi) 5:15 & 8:15pm 10:00pm & 12:00midnight MEG (2D/Action) 11:00am, 3:30 & 8:30pm Yellow Birds (Drama) 6:30pm Animal World (Adventure) 7:15pm Luis And The Aliens (2D) 10:00am 1:30 & 5:00pm Johnny English (2D/Action) 9:15 & 11:00pm Enchanted Princess (2D/Animation) 11:45am, 3:15 & 6:45pm Elizabeth Harvest (2D/Thriller) 11:15pm Al Khourouj An Al Nas (2D/Arabic) 8:30, 10:30pm & 12:00midnight The Equalizer 2 (2D/Action) 1:00, 6:00 & 11:00pm Christopher Robin (2D/Animation) 10:15am, 2:30, 6:45 & 11:00pm Mile 22 (2D/Action) 12:30, 4:45 & 9:00pm Reprisal 10:00am, 2:00, 6:00 ASIAN TOWN & 10:00pm Slender Man 12:00noon, 4:00, 8:00pm & 12:00midnight Al Badlah (2D/Arabic) 10:00am, 12:15, 2:30, 4:45, 7:00, 9:15 & 11:30pm Saamy 2 (Tamil) 12:00noon, 1:00, 3:00, 4:00, 7:00, 9:00, 10:00pm The Nun(2D/Horror/IMAX)11:00am, 1:00, 3:00, 500, 7:00, 9:00&11:00pm Seema Raja (Tamil) 6:00pm Padayottam (Malayalam) 3:00, 5:30, 8:00, 10:30pm Battigul Meter Chalu (Hindi) 6:00pm MALL Kinavally (2D/Malayalam) 9:00 & 11:45pm Saamy 2 (2D/Tamil) 2:00, 4:45 & 8:45pm The Hows of Us (2D/Tagalog) 4:00 & 9:15pm Peter Pan: The Quest of the Never Book (Animation) 2:00pm ROXY Padayottam (Malayalam) 2:15pm Monster Busters 2:15pm Batti Gul Meter Chalu 4:00, 7:15 & 10:30pm Johnny English (2D/Action) 4:45, 7:30, 9:15 & 11:30pm Johnny English (2D/Action) 10:30am, 12:50, 2:30, 5:00, 8:30 & 10:30pm Battigul Meter Chalu (Hindi) 6:15 & 11:00pm Monsters Busters 12:30, 4:30 & 6:30pm The Nun 2:50, 9:20 & 11:30pm The Predator (2D/Action) 6:30 & 11:30pm Padayottam 10:30am & 1:15pm Peter Pan: The Quest of the Never Book Animal World (Adventure) 6:30pm Wildling (Drama) 11:30pm (Animation) 10:30, 12:30, 2:30, 4:30 & 6:30pm Saamy 2 10:30am, 1:40, 4:50, 8:00, 8:30, 11:10 & 11:40pm LANDMARK The Predator (2D/Action) 10:30am & 7:00pm

Saamy 2 (2D/Tamil) 2:15, 6:00 & 11:00pm Monsters Busters 2:30pm AL KHOR Kinavally (2D/Malayalam) 2:30pm Saamy 2 (Tamil) 12:00noon, 3:00, 6:00, 9:00pm & 12:00midnight Johnny English (2D/Action) 4:15, 9:30 & 11:15pm Johnny English (2D/Action) 12:00noon, 2:00, 4:00, 6:00, 8:00, The Hows of Us (2D/Tagalog) 5:00 & 7:15pm 10:00pm & 12:00midnight Battigul Meter Chalu (Hindi) 5:15 & 8:15pm Padayottam (Malayalam) 12:30, 3:15, 6:00. 8:45 & 11:30pm Yestserday’s answer Animal World (Adventure) 8:45pm Padayottam (Malayalam) 11:15pm Note: Programme is subject to change without prior notice. FLIK Mirqab Alpha 2:00 & 8:05pm Animal World 8:45, 9:20pm & 12:05am Johnny English Strikes Again 1:30, 2:30, 3:30, 5:30, 6:30, 7:35, 8:30, 9:35, 10:30, 11:35pm & 12:35am Luis & The Aliens 4:05 & 6:00pm Monsters Busters 1:20 & 5:15pm Saamy 2 3:40, 6:55 & 10:10pm Peter Pan: The Quest for the Never Book 2:10 & 3:20pm The How of Us 7:30, 10:00pm & 12:30am The Nun 1:50, 3:55, 7:15, 7:50, 9:55pm & 12:00midnight The Predator 3:15, 4:10, 5:25, 10:05pm & 12:15am

SAAMY SQUARE

Saamy Square, (stylized as Saamy2) is a Tamil action film, written and directed by and produced by Shibu Thameens. It stars in the dual role with Rajesh and .