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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.

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