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MONDAY 12 APRIL 2021 EconomyE poised for stronger ggrowth with virus a risk: Powell WeW feel like we’re at a place where the economy is aboutab to start growing much more quickly and job creationcr coming in much more quickly.

JeromeJe Powell US Federal Reserve Chair BUSINESS | 06 QSE 10,563.54 +22.01 (0.21%) FTSE 100 6,915.75 −26.47 (0.38%) DOW 33,800.60 +297.03 (0.89%) BRENT $63.01 (-0.24)

Qatar, to witness cooperation in new areas in next five years

LANI ROSE R DIZON THE PENINSULA Sri Lanka has been an important provider of and Sri Lanka are poised to witness new areas of cooperation in the next five years, with both professional as well as manpower services currently exploring mutual investments to Qatar. And that is something we want to and partnerships in the finance sector as well as in enhance. In particular, in areas where we a number of industries including tourism, shipping, government security, logistics, food security, and can provide services in the forthcoming hospitality, Sri Lanka’s State Minister of Money, mega event (Qatar Cup). Capital Markets, and State Enterprise Reforms, H E Ajith Nivard Cabraal said yesterday. Ajith Nivard Cabraal Speaking to the media, Cabraal said Sri Lanka Sri Lanka’s State Minister of Money, Capital also eyes providing additional professional and manpower services for the upcoming Qatar World Markets, and State Enterprise Reforms Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, with Minister of Foreign Affairs of Cup. A Qatar Sri Lanka Joint Business Council is , H E Abdulaziz Kamilov, yesterday. also planned to be established this year to facilitate And that is something we want to enhance. In par- direct business-to-business cooperation between ticular, in areas where we can provide services in Qatar, Uzbekistan vow to bolster relations private sectors of both countries, he said. Sri Lanka’s the forthcoming mega event (Qatar World Cup). Ambassador to Qatar, H E Mohamed Mafaz We are also keen that we establish financing rings THE PENINSULA — the efforts exerted by both sides to confront the Mohideen added that works are currently underway and provide a good return for Qatari investors, as COVID-19 pandemic. Also, they discussed coordi- to launch the new joint business council by the third well as enhance the cooperation levels between Minister of Commerce and Industry, H E Ali bin nation mechanisms to bolster bilateral trade and or fourth quarter of this year. Qatar and Sri Lankan banking sectors. In the next Ahmed Al Kuwari met yesterday with Minister enhance cooperation in priority sectors to serve As part of his regional tour, Cabraal has met five years, we’ll see new areas in which Qatar and of Foreign Affairs of Uzbekistan, H E Abdulaziz the developmental aspirations of both countries. with the heads of Qatar’s Ministry of Finance, Qatar Sri Lanka will be cooperating,” said Cabraal. Kamilov, who is currently visiting the . During the meeting, the Minister of Com- Central Bank, Qatar National Bank, Doha Bank, He said Sri Lanka, which expects to see a 5.5 During the meeting, they touched on the merce and Industry highlighted the economic and to chart plans for future action percent economic growth this year, is keen to bilateral relations between the two friendly coun- policies that Qatar has adopted and the measures in foreign direct investments. He is also expected develop its existing relations with Qatar, which tries, and joint cooperation in the trade, it has taken to abolish restrictions on foreign to meet with officials from the Qatar Investment could also serve as its gateway to the region. He investment, and industrial fields, as well as means investment and create investment opportunities Authority today. added that the Sri Lankan Central Bank has also to bolster and develop this cooperation. for companies looking to invest and establish a “Sri Lanka has been an important provider of provided a 100 percent protection for investors to Talks focused on bilateral trade policies and presence in Qatar. professional as well as manpower services to Qatar. attract foreign direct investments. `P4 02 BUSINESS MONDAY 12 APRIL 2021 MONDAY 12 APRIL 2021 BUSINESS 03 04 BUSINESS MONDAY 12 APRIL 2021 QNB net profit reaches QR3.3bn in first quarter THE PENINSULA — DOHA QNB achieved a stable Operating Income of QR6.7bn ($1.8bn) for the QNB, the largest financial institution in first quarter of 2021 in line with last year. the and (MEA) region, yesterday announced a net profit of QR3.3bn ($0.9bn) for the first quarter of Following the successful milestone achievement of first banking 2021, a decrease of 7 percent compared institution in the region to achieve total assets of QR1 trillion in the same period last year. December 2020, QNB Group succeeded in increasing its total assets QNB achieved a stable Operating Income of QR6.7bn ($1.8bn) for the first to QR1,042bn ($286bn), representing an increase of 8 percent from quarter of 2021 in line with last year, March 2020. despite the impact of COVID-19. This reflects QNB Group’s success in main- taining growth across the range of At March 31, 2021, QNB Group reported robust levels of capital revenue sources. In addition, QNB Group measured in terms of the Capital Adequacy Ratio at 19 percent, decided to set aside a loan loss provision higher than the regulatory minimum requirements of the Qatar of QR1.4bn ($0.4bn) as a precautionary measure taking into account the long- Central Bank and Basel Committee. term view of the financial impacts of COVID-19 pandemic. Following the successful milestone A view of QNB head office. achievement of first banking institution in the region to achieve total assets of QR1 trillion in December 2020, QNB QNB Group serves a customer base of approximately 20 Group succeeded in increasing its total million customers supported by 27,000 staff resources assets to QR1,042bn ($286bn), repre- senting an increase of 8 percent from operating from 1,000 locations and more than 4,400 ATMs. March 2020. The increase in total assets was mainly driven by increase in Loans and on sustainable deposit generation. Despite the ongoing impact of resulted in the coverage ratio increasing measured in terms of the Capital Ade- Advances by 2 percent to reach QR721bn In addition, QNB Group continued COVID-19 pandemic, the ratio of non- to 111 percent as at March 31, 2021. quacy Ratio at 19 percent, higher than ($198bn). On the funding side, QNB its drive for cost rationalisation in performing loans to gross loans stood at Total equity increased by 5 percent the regulatory minimum requirements diversified its customer deposits gener- addition to sustainable revenue gener- 2.2 percent as at March 31, 2021, one of to reach QR94bn ($26bn) as at March of the and Basel ation that helped increase our customer ating sources. This helped QNB Group the lowest amongst financial institutions 31, 2021. Earnings per share for the three Committee. deposit base to QR750bn ($206bn), to improve the efficiency (cost to in the MEA region, reflecting the high months ended March 31, 2021 reached QNB Group serves a customer base resulting in a healthy loan to deposit income) ratio to 23.4 percent, which is quality of the Group’s loan book and the QR0.33 ($0.09) compared to QR0.36 of approximately 20 million customers ratio of 96.1 percent complemented by considered one of the best ratios among effective management of credit risk. The ($0.10) in March 2020. supported by 27,000 staff resources conservative credit underwriting during the large financial institutions in the MEA Group’s conservative policy in regard to At March 31, 2021, QNB Group operating from 1,000 locations and the first quarter and more focus more region. provisioning for potential loan losses reported robust levels of capital more than 4,400 ATMs. Qatar, Sri Lanka to witness new areas QICDRC co-hosts webinar on ADR of cooperation in next five years in Islamic and Middle Eastern law FROM PAGE 1 THE PENINSULA — DOHA “Sri Lanka is on track to become a lot more vibrant as an economy in the next few years. The The Qatar International Court and Dispute Reso- opportunity for investors who come in now are lution Centre (QICDRC), in cooperation with SOAS enormous,” he added. University of London, delivered an interactive Speaking about the possibility of Sri Lankan webinar session on alternative dispute resolution companies setting up their businesses at the (ADR) in Islamic and Middle Eastern law on April 8. Qatar Free Zones and the to take Moderated by Dr. Jonathan Ercanbrack, Chair part in the country’s growing shipping and food of the Centre of Islamic and Middle Eastern Law security industries, he said: “There are many and Senior Lecturer in Transnational Financial Law Sri Lankan companies which have now at SOAS, the webinar introduced legal professionals Experts reached fairly high levels of activity. They have in Qatar and beyond to practical insights on the during the become billion dollar companies and they have arbitration practice in Qatar and , offering webinar. ventured out to other parts of the world. Many an in-depth look into the latest arbitration trends are doing that already. And I would like to see and controversies in the region. The session resolution practitioners, arbitrators, counsel, aca- that partnership being built up and happening included a lively Q&A and general discussion from demics and professionals in Qatar and beyond. Sri Lanka’s State Minister of Money, Capital here”. attendees, who joined virtually from across the Through dialogue and practical insights, legal prac- Markets, and State Enterprise Reforms H E Ajith He added: “We have already given licence to world. titioners can grow their understanding of a spe- Nivard Cabraal, during the press conference Islamic banking entity in Sri Lanka. There are Distinguished speakers included Dr. Zain Al cialised aspect of alternative dispute resolution that at Sharq Village & Spa in Doha yesterday. also several Sri Lankan banks which already have Abdin Sharar, Senior Legal Counsel at QICDRC’s is highly relevant to our region.” PIC: ABDUL BASIT/ THE PENINSULA Islamic banking outlets. There is possibility of CEO Office, who discussed the challenges and Speaking on the benefits of the collaboration enhancing those as well, and that’s an that opportunities of arbitration in Qatar. Dr. Amel between SOAS and the Qatar International Court, we would like to definitely cooperate further with was vital, and Qatar has done that quickly. The Makhlouf, MCIArb, Lecturer in Law and Research Dr. Ercanbrack said: “We are pleased to cooperate Qatar”. country has also maintained macro funda- Associate at SOAS, spoke about the use of alter- with a leading international Court such as QICDRC During the press conference, Cabraal went mentals at reasonably healthy levels. The gov- native dispute resolution in Islamic law; while Att to deliver unique perspectives and questions on on to highlight Qatar’s successful stimulus pro- ernment investment was also enhanced, at a Turgut Aycan Özcan, Head of International Arbi- dispute resolution in the region through a panel of gramme in responding to the COVID-19 pan- time when others are reducing their overall tration Practice at LEXIST Law Firm, Istanbul, international experts. We look forward to further demic, and reiterated that the upcoming World levels. The football in the horizon also acted as tackled arbitration practice in Turkey as a bridge cooperate with QICDRC in the future to benefit our Cup now serves as an automatic stimulus for an automatic stimulus. Qatar did well, and now between and Europe. legal community and spread the awareness about the Qatari economy. “Qatar has responded well you’re going to reap the benefits,” the Dr. Sharar commented on the event: “We are arbitration practices in the Islamic and Middle during the pandemic. Stimulating the economy Minister added. pleased to bring together arbitration and dispute Eastern countries.” Municipalities Private sector exports return to pre-pandemic levels Barwa Real issue 1194 Estate signs pact THE PENINSULA — DOHA building permits The newsletter said that the to sell land plot The total value of Qatar’s total exports of goods in in March foreign merchandise trade in in January 2021 stood at QR29.1bn, January, including those of QNA — DOHA QNA — DOHA reflecting a 13.7 percent growth domestic origin and The number of building permits compared to QR25.6bn in re-exports, amounted to Barwa Real Estate Company issued by municipalities in the December 2020, according to announced yesterday the country reached 1,194 in March, Qatar Chamber’s latest monthly around QR21.3bn, showing signing of an agreement to sell an increase of 8 percent economic newsletter. an increase of 24.6 percent the plot of land owned by compared to , The March 2020 issue of the compared to QR17.7bn in Wahat Al- Real Estate according to latest statistics chamber’s newsletter cited Company “wholly owned by released by Planning and figures from the Planning and December. Barwa Group”, provided that Statistics Authority (PSA). Statistics Authority (PSA) about the sale process is completed Municipality of the total value of Qatar’s foreign and registered with a notary comes at the top of the munici- merchandise trade in January that the surge in private sector’s upon fulfilling all the terms palities where the number of 2021, and the private sector’s exports emphasized the ability and conditions of the building permits issued were 445 exports according to certificates of private sector and the agreement and paying the rest permits, i.e. 37 percent of the of origin issued by the chamber. national economy in general to of the sale price within a total issued permits, while The newsletter, prepared by overcome the repercussions of period not exceeding 90 days municipality of Doha came in QCs Research & Studies the COVID-19 pandemic and from the date of signing the second place with 215 permits, Department, highlighted a rebound to its levels before the agreement, which saw Barwa i.e. 18 percent, followed by report about the chamber’s pandemic. receive the first payment on municipality of Al Da’ayen with activities held last year which In January, the private sec- the sale price calculation. 179 permits, i.e.15 percent, then were presented by its Chairman, tor’s exports recorded the The total sale price is municipality of with Sheikh Khalifa bin Jassim Al highest value during the past SAR742,380,100, excluding 171 permits, i.e.14 percent. Thani during the general nine months with an increase real estate disposal . All In terms of type of permits assembly meeting held on of 162 percent compared to financial terms of the issued, data indicates that new March 3. surplus of QR13.5bn almost, The increase in the private April 2020, which was the agreement and its financial building permits (residential and The newsletter also said recording an increase of 57 sector’s exports is attributed to lowest value due to the pre- iWmpact will be announced non-residential) constitutes 48 that the total exports of goods percent compared to QR8.6bn a considerable increase of 20.1 cautionary measures to curb upon completion of the sale. percent (573 permits) of total in January, including those of in December,” the newsletter percent in exports through the the pandemic of COVID-19, The Group purchased this building permits issued during the domestic origin and re-exports, stated. General model certificate which while it decreased by 23 land in 2016 for a value of SAR month of March 2021, while per- amounted to around QR21.3bn, The newsletter reported increased by QR160m. percent compared to February 659,277,850. Barwa Real centage of additions permits con- showing an increase of 24.6 that was Qatar’s largest Exports through Unified 2020, which was the highest Estate spent on the land for stituted 47 percent (567 permits), percent compared to QR17.7bn trade partner in January with GCC to model also value. different purposes including and finally fencing permits with in December. trade exchange volume close to recorded a sharp increase of Steel exports increased by land development costs and 5 percent (54 permits). The imports of goods during QR5.7bn, or a share of 19.6 966 percent (from QR12m to 5000 percent from QR3mn in financing costs. By analyzing new residential the same month stood at percent of Qatar’s total foreign QR129m), followed by exports December to QR132mn in Barwa Real Estate will buildings permits data, it was QR7.8bn, showing a decrease trade. through the Unified Arab model January, followed by chemical announce estimated amounts found that villas top the list, of 8.2 percent compared to Similarly, the private sec- which increased by 15 percent, substances which increased by of profits generated from the accounting for 71% (355 permits) QR8.5bn in December. tor’s exports in January showed and exports through GSP Model 62.2 percent and chemical sub- sale transaction, after the sale of all new residential buildings “Therefore, the country’s a significant month-on-month certificate which increased by stances which increased by is completed and the land is permits, followed by dwellings of foreign merchandise trade (m-o-m) increase of 12.5 7.1 percent. While exports 23.9 percent, latrine which emptied for the buyer, in order housing loans permits by 21% (107 balance, which represents the percent from QR1.333bn in through GCC model certificate increased by 4.8 percent and to be able to calculate all costs permits) and apartments buildings difference between total December 2020 to QR1.499bn decreased by 32.9 percent. aluminum which increased by and expenses related to the by five percent (23 permits). exports and imports, showed a in January 2021. The newsletter also noted 11.2 percent. land. MONDAY 12 APRIL 2021 BUSINESS 05 Qatar, Turkey trade exchange grew by 100 percent in 2020

THE PENINSULA — DOHA there are hundreds of Turkish The meeting touched on companies operating in the Qatar Chamber Chairman, reviewing ways of boosting Qatari market in joint ventures Sheikh Khalifa bin Jassim Al commercial and investment with Qatari partners in various Thani received yesterday Pres- cooperation relations between sectors such as trading, con- ident of Turkey’s Independent tracting, services and hospitality, Industrialists’ and Businessmen’s both sides, investment stressing that Turkey is an Association (MUSIAD), Abdur- opportunities available in both attractive destination for rahman Kaan. sides as well as the possibility of investment for Qatari The meeting touched on establishing joint investments businessmen. reviewing ways of boosting com- between private sector inside He also confirmed the Qatari mercial and investment cooper- businessmen’s strong desire to ation relations between both and outside both countries. invest in Turkey and forge eco- sides, investment opportunities nomic alliances with their Turkish available in both sides as well as counterparts, as well as benefit from the possibility of establishing joint based on understanding and the Turkish experience in estab- investments between private mutual respect. lishing joint investments, especially Qatar Chamber Chairman, Sheikh Khalifa bin Jassim Al Thani with President of Turkey’s Independent sector inside and outside both He also said that both coun- in Africa which is full of feasible Industrialists’ and Businessmen’s Association, Abdurrahman Kaan. countries. tries’ relations have significantly investment opportunities. Addressing the meeting, developed within the past five On his part, Abdurrahman Sheikh Khalifa praised the dis- years, citing their trade exchange Kaan emphasized the interest of investments between busi- Qatar in several sectors, pointing -Turkish capital to promote its tinct, close relation between grew by 100 percent from the association to establish close nessmen from both countries. to a study to establish a factory products not only in the Qatari Qatar and Turkey, noting that $900m to $1.91bn in 2020. cooperation ties with Qatar He also stressed the desire of for manufacturing food products market, but rather the markets these relations are historic and Sheikh Khalifa also noted that Chamber to develop mutual Turkish businessmen to invest in in Qatar with a joint Qatar of the Middle East region. QIB profit grows 9.1 percent to QR750m in first quarter

THE PENINSULA — DOHA 2021 was QR2,100m registering ratio for non-performing QIB has received a number of 8 percent growth compared to financing assets as of March prestigious awards from well- Qatar Islamic Bank (QIB), QR1,944m for the same period 2021. The Bank continues to respected international publi- Qatar’s leading Islamic Bank, in 2020. Income from financing take necessary actions and pre- cations. Bassel Gamal, QIB yesterday announced that that and investing activities has reg- cautions for safety and well- Group’s CEO has also entered its net profit attributable to the istered a growth of 1.8 percent being of its employees, cus- Forbes’ prestigious Top CEOs shareholders of the Bank to reach QR1,758m at the end tomers and to the community in the Middle East ranking. amounted to QR750m for the of the three months’ period at large. QIB has been awarded four three months’ period ended ended 31 March 2021 compared Total Shareholders’ Equity prestigious accolades at the March 2021, representing a to same period last year. The of the Bank has reached Global Finance Magazine’s growth of 9.1 percent over the Bank was also able to achieve QR18.1bn. Total Capital ade- World’s Best Islamic Banks same period in 2020. significant reduction in cost of quacy of the Bank under Basel Awards for 2021, including ‘Best Total Assets of the Bank has funding (profit paid to Sukuk III guidelines is 19 percent as of Islamic Corporate Bank – increased by 8.5 percent com- and Unrestricted Investment March 2021, higher than the Global’ in addition to ‘Best pared to March 2020 and 3.4 Account holders) enabling minimum regulatory require- Islamic Bank in the Middle East’ percent compared to December robust growth in the Net Oper- ments prescribed by Qatar and ‘Best Islamic Bank in Qatar’ 2020 and now stands at ating Income. Central Bank and Basel for the second consecutive year, QR180bn driven by the con- Total Operating Expenses Committee. and ‘Best Islamic Bank in tinued growth in the financing for the three months’ period In March 2021, Standard & ’. activities. ended 31 March 2021 was Poor’s (S&P) affirmed the Bank’s QIB was also recognized Financing activities have QR269m compared to QR271m credit rating at ‘A-’ while with two prestigious at now reached QR125bn having for the same period in 2020. upgrading the Bank’s Stand- The Digital Banker Maga- grown by 9.8 percent compared Strong operating income gen- A view of QIB head office. Alone Credit Profile. In zine’s Middle East & Africa to March 2020 and up by 5.1 eration and cost containment November 2020, Fitch Ratings Innovation Awards 2021, as percent compared to December enabled the Bank to achieve affirmed the Bank’s credit rating ‘Best Mobile Initiative in 2020. Customer Deposits of the further efficiencies bringing financing assets at 1.5 percent assets for QR558m for the three at ‘A’ and Moody’s Investors Qatar’ and ‘Best Bank for Bank now stand at QR126bn down the cost to income ratio reflecting the quality of the months’ period ended 31 March Service, (“Moody’s”) also Cash Management in Qatar.’ registering a growth of 14.3 to 17 percent, which is the Bank’s financing assets port- 2021 as against QR219m set affirmed the Long-term deposit The Bank received ‘Digital percent compared to March lowest in the Qatari Banking folio. Given the ongoing uncer- aside during the same period ratings at “A1”. In April 2021, Bank of the Year in Qatar’ and 2020 and up by 6.6 percent sector. tainties related to impact of last year. QIB continues to Capital Intelligence Ratings (CI) ‘Best Mobile Banking compared to December 2020. QIB was able to maintain pandemic, the Bank created pursue the conservative has affirmed the Bank’s Long- Experience in Qatar’ at The Total Income for the three the ratio of non-performing additional precautionary impairment policy maintaining term Currency Rating (LTCR) of Asset Triple A Digital Awards months’ period ended March 31, financing assets to total impairment charge on financing a healthy 92.3 percent coverage ‘A+’. In the first quarter of 2021, 2021. Oil falls 2% last week on supply increase: Al Attiyah Foundation THE PENINSULA — DOHA

Oil prices settled lower on Friday and fell around 2 percent last week as production increases and renewed COVID-19 lockdowns in some countries, offset optimism about a recovery in fuel demand. Brent crude settled down 22 cents, or 0.4 percent, to $62.95, while WTI ended 28 cents, or 0.5 percent, lower at $59.32. NBK Automobiles launches special US drillers maintained the current number of drill rigs this week, energy services firm Baker Hughes said on offer on Mercedes-Benz cars Friday, with analysts forecasting more rigs will be needed to keep production 50 LNG cargoes for delivery into China steady in coming weeks. over June this year to February next year THE PENINSULA — DOHA strategy to give more opportunities to and athletic model that fits all Prices have been pressured by the at a discount to North Asian prices. Also, our brand enthusiasts to drive one of terrains. decision of the OPEC+, to increase sup- ’s PTT bought a cargo for Celebrating the holy month of the best cars in the world”. The design idiom of the exterior is plies by 2 million bpd between May and mid-May at about $7.20 to $7.35 per , Nasser Bin Khaled (NBK) The all-new E class shines with the embodiment of hallmark AMG July. Coupled to this, the US dollar fell to mmBtu while ’s Gujarat State Automobiles, the authorized general its fascinating design and state-of- Driving Performance. The stylish and a two-week low against a basket of cur- Corp (GSPC) bought a cargo distributor of Mercedes-Benz in Qatar, the-art features. The entry-level striking coupé silhouette makes for a rencies, tracking Treasury yields lower, for delivery in May at about $7.10 to $7.20 has launched a special offer on a model already comes with the sporty self-assured appearance, with design after data showed a surprising rise in US per mmBtu. Mercedes-Benz E class and Mercedes- Avantgarde Line exterior. As a result, lines that convey the passion for per- weekly unemployment claims. A weaker China’s ENN Energy is seeking 4 to 8 AMG GLE Coupé. the base model of the E-Class Sedan formance. The AMG front apron has dollar makes oil cheaper for holders of cargoes for delivery over July to February Valid until May 31, 2021, the offer features a central at the front model-specific features such as sporty other currencies, which can help boost in a tender that closes early next week. includes direct discounts with for the first time. The new front end outer air inlets, each with two side crude prices. Also, Cheniere Energy offered six cargoes monthly installments on Mercedes- with increased chrome content plays louvres in silver chrome, and black Talks to bring and the US fully for delivery into Northwest Europe over AMG GLE Coupé for QR6,499 while a role in the fresh appearance. flics. Like the louvres of the air inlets back into the 2015 nuclear deal have April to , while Darwin LNG the Mercedes-Benz E class is available The E-Class Sedan features and the trim on the A-wing, the front progressed, delegates said on Friday, sold a cargo for loading in early May at now for QR2,999 per month with the all-LED headlamps as standard. splitter is in silver chrome. but Iranian officials indicated a disa- about $7.20 per mmBtu. Angola LNG has option of trade-in and in-house MULTIBEAM LED headlamps The AMG side skirts and the spoiler greement with Washington exists over also offered a cargo for delivery to as far finance. including ULTRA RANGE high beam lip on the boot lid are painted in the which sanctions it must be lifted. A suc- as North Asia over April to May, while Sheikh Faleh bin Nawaf Al Thani, are available as an option. The new vehicle colour. The flared wheel arches cessful deal would potentially bring an LNG offered a cargo for May 12 Managing Director – Auto, at Nasser E-Class Sedan is equipped with the allow space for the large wheels – additional 2 million bpd of supply into loading, the sources said. Bin Khaled Group said: “Nasser Bin latest Mercedes-Benz driving 20-inch light-alloy wheels with AMG the market, according to data intelli- In the US, front-month gas futures Khaled Automobiles is proud to assistance systems providing coop- lettering are fitted as standard. The gence firm Kpler. rose 0.4 cents, or 0.2 percent, to settle at launch this offer celebrating the holy erative support to drivers. This results newly designed rear apron with AMG- US gasoline inventories rose sharply $2.526 per mmBtu, their highest since month of Ramadan. in an especially high level of active specific details such as a striking dif- by 4 million barrels to a little more than April 1. The last time the contract rose This is another offer in a series of safety: the E-Class Sedan reacts if the fuser and a trim strip in silver chrome 230 million barrels last week as refiners for three straight days was in mid-Feb- offers to share the Qatari community driver does not. visually accentuate the vehicle’s width. ramped up output before the summer ruary. Even though the contract has been their special occasion and provide The new E-Class Sedan is The basis for the hallmark AMG driving season, the US Department of up for a few days in a row, big losses early them with flexible deals. On this pre- equipped with the latest generation vehicle dynamics is provided by the Energy said on last Wednesday. in the week left the front-month down cious occasion, we would like to of the MBUX multimedia system (Mer- electrified 3.0-litre engine with twin Asian spot prices for LNG rose last about 4 percent, after rising about 3 extend our greetings to all people, cedes-Benz User Experience). As turbocharging 435 hp) and week on the back of demand from China percent last week. However, henry hub Qataris and expats, and wish them a standard for the region, it includes two delivers a maximum torque of 520 as at least two buyers sought cargoes for prices were edged on Friday, on fore- blessed month” large 12.3 inch/31.2 cm screens that Nm. The GLE 53 4MATIC+ Coupé delivery ahead of winter, trade sources casts for cooler weather and higher Ihab El Feky, General Manager, are arranged side by side for a wide- accelerates from zero to 100 km/h is said. The average LNG price for May heating demand in mid- to late-April, Nasser Bin Khaled Automobiles said: screen look. The information in the just 5.3 seconds, and reaches an elec- delivery into Northeast Asia was esti- the first time in seven weeks prices rose “NBK Automobiles extends its instrument cluster and on the media tronically limited top speed of 250 mated at about $7.30 per million British for three straight days. greetings to the people of Qatar on display is easily legible on the large, km/h. thermal units (mmBtu), up 35 cents from Traders noted that while tempera- the occasion of the Holy Month of high-resolution screens Nasser Bin Khaled Automobiles the previous week. tures may be lower, they are expected to Ramadan. We are pleased to present With its expressive exterior, pro- has built its success by establishing Still, Asia supply was ample with remain at above-normal levels with LNG this offer the best models in two dif- gressive elegant interior, and turbo- solid, longstanding relationships with several sellers offering cargoes, which exports expected to decline this month ferent categories to meet the demands charging engine, the new Mercedes- its customers, and by offering a wide capped price gains, said sources. In Asian during routine plant and pipeline of customers. This is part of our AMG GLE Coupé reflects the dynamic range of quality products. demand China’s Sinopec bought 30 to maintenance. 06 BUSINESS MONDAY 12 APRIL 2021 Economy poised for stronger ECB must accept no further growth with virus a risk: Powell

BLOOMBERG delay in lifting inflation

Federal Reserve Chair Jerome Powell REUTERS — FRANKFURT inflation expectations and we would said the US economy was at an The ECB has already undershot its risk a permanent reduction of eco- “inflection point” with stronger growth The European Central Bank should nearly 2 percent target for eight years nomic potential.” and hiring ahead thanks to vaccina- accept no further delay in lifting The ECB ramped up stimulus last tions and powerful policy support, but inflation back to its target as the and its projections indicate that it will month but still only sees inflation that Covid-19 remains a threat. current outlook is unsatisfactory and continue to miss for years to come as rising to 1.4 percent by 2023, a level “We feel like we’re at a place persistent misses risk damaging the bloc struggles to absorb the slack left Panetta called unsatisfactory. where the economy is about to start economy, ECB board member Fabio behind a pandemic-induced recession. With vaccinations picking up growing much more quickly and job Panetta told Spanish newspaper El pace, some policymakers are creation coming in much more Pais. already making the case for curbing quickly,” Powell told CBS’s “60 The ECB has already undershot emergency bond purchases from the Minutes” in an interview conducted its nearly 2 percent target for eight rejected this argument, warning that third quarter onwards but Panetta Wednesday. years and its projections indicate the costs outweigh the benefits. cautioned, arguing that a prudent A segment of the interview was that it will continue to miss for years “The argument that we could approach in such a crisis is injecting shown during the network’s “Face the We feel like we’re at a place where the to come as bloc struggles to absorb extend the horizon to meet the aim too much stimulus rather than too Nation” show yesterday. economy is about to start growing much the slack left behind a pandemic- is not a convincing one,” El Pais little. “So the principal risk to our more quickly and job creation coming in induced recession. quoted him yesterday as saying. Indeed, Panetta even called on economy right now really is that the much more quickly. With stimulus already near its “The ECB has failed to reach its aim European governments to ramp up disease would spread again. It’s going limits, some policymakers argue that for too many years already.” fiscal support warning that the bloc’s to be smart if people could continue to Jerome Powell, US Federal Reserve Chair the ECB must simply accept a slower “Waiting will be even more economy likely suffered more socially distance and wear masks,” rise in price pressures instead of costly,” Panetta argued. “It would damage from the pandemic than Powell said. trying to do even more but Panetta make it more difficult to re-anchor currently visible. Demand on rise for caravans, tiny houses in Turkey

ANADOLU — ISTANBUL manager of tiny house and though options remain limited he said, adding that the indus- caravan producer in Turkey for now compared try’s exports doubled over this Seeking refuge from the daily Karavancan. with other countries. period. grind and the corona- “While land and home For four years now, Crawler While before the pandemic, virus, an increasing many in prices are high, people can buy has also been producing spe- the number of people interested Turkey have turned to caravans tiny houses at very low prices,” cially designed off-road high- in caravans was limited, now and tiny houses for their vaca- he said, adding that a quality motorhomes and demand has risen among a wide tions as the pandemic, lock- 35-square-meter (42 square exporting them to 25 range of consumers, including downs and restrictions have yards) tiny house could cur- countries. white collar workers, he made many other, more luxu- rently be purchased for 60,000 The firm has also developed underlined. rious, options less within reach. Turkish liras ($7,350). an electric caravan prototype “All who seek isolation from Holidays have taken a turn Ocak highlighted that tiny — E-trailer — which extends the crowds have turned to for the greener and more sol- houses met all the daily needs electric cars’ range by charging caravan tourism.” itary as public authorities advise of potential residents, without their batteries like a power bank Touching on Tuyap’s people to stay far from crowds such bureaucratic hurdles as with its electric engines. ongoing caravan expo in Many in Turkey have turned to caravans and tiny houses for their during the pandemic, including reconstruction permits. Ilhan Ersozlu, the head of Istanbul, KaravanIst, he said vacations as the pandemic has made many other, more luxurious, in Turkey, where many have Karavancan, which is Turkey’s largest fair organizer that around 100 firms in the options less within reach. taken a newfound liking to car- owned by a Turkish con- Tuyap, said caravans and tiny sector are showing their avans, according to a sector struction firm, started caravan houses are very important products at the event. professional in the country. production during the ecosystem had been boosted interest rising among people tourism alternatives for The fair, which will last until Along with this rise in pandemic. during the virus outbreak. from every segment of society. people, especially amid April 13, has hosted thousands demand, the number of caravan Furkan Guneri, a sales Caravan sales have He underlined that there are COVID-19. of people who came to see up- makers in the country has also director at Turkish caravan increased by 80 percent during also many accessory and side Turkey’s caravan sector has close and compare caravans surged, said Ural Ocak, sales maker Crawler, said the sector this time, Guneri said, with product makers in Turkey, improved during the outbreak, and tiny houses, he said.

QATAR STOCK EXCHANGE

QNBK - QNB 17.86 17.62 17.62 17.90 29,796 17.9 17.8 27,500 17.90 17.90 +0.04 +0.22 198 647,789 11,533,737.61 QIBK - Qatar Islamic Bank 16.59 16.55 16.40 16.65 9,331 16.64 16.56 9,331 16.65 0.00 +0.06 +0.36 92 249,210 4,120,736.07 CBQK - Comm. Bank of Qatar 4.90 4.90 4.90 4.95 116,510 4.95 4.897 10,000 4.95 4.95 +0.05 +1.02 42 584,930 2,880,550.88 DHBK - Doha Bank 2.308 2.308 2.273 2.309 32,899 2.298 2.281 2,500 2.298 2.298 -0.010 -0.43 30 441,343 1,014,394.532 ABQK - Ahli Bank 3.61 3.79 3.79 3.79 5,800 3.78 3.65 4,697 3.79 0.00 +0.18 +4.99 2 13,000 49,270.00 QIIK - Intl. Islamic Bank 8.65 8.61 8.50 8.73 1,500 8.608 8.58 39,626 8.58 8.580 -0.07 -0.81 87 569,489 4,896,423.30 MARK - Rayan 4.27 4.284 4.261 4.284 80,693 4.273 4.271 20,780 4.273 4.273 +0.003 +0.07 207 4,142,650 17,696,907.513 KCBK - Al khalij Commercial Bank 2.11 2.11 2.10 2.11 55,792 2.1 2.09 5,000 2.10 0.00 -0.01 -0.47 21 264,866 557,164.26 QFBQ - Qatar First Bank (QFC) 1.90 1.905 1.892 1.923 205,330 1.921 1.914 40,000 1.921 1.921 +0.021 +1.11 184 8,938,366 17,119,494.626 QETF - QE Index ETF 10.591 10.25 10.250 10.613 0 0.0 10.592 9,441 10.613 10.639 +0.022 +0.21 8 26,081 276,320.250 QATR - Al Rayan Qatar ETF 2.512 2.55 2.51 2.55 10,811 2.556 2.55 160,557 2.55 2.52 +0.04 +1.51 40 245,943 619,836.20 QATI - 2.497 2.48 2.47 2.50 69,985 2.5 2.497 5,000 2.50 2.500 0.00 +0.12 37 570,192 1,415,789.02 DOHI - Doha Insurance 1.895 1.895 1.862 1.940 5,000 1.898 1.871 8,500 1.899 0.000 +0.004 +0.21 22 261,460 494,366.987 QLMI - QLM 5.01 5.01 4.90 5.20 3,750 5.11 5.1 1,513 5.10 0.00 +0.09 +1.80 49 354,219 1,795,306.79 QGRI - General Insurance 2.35 2.448 2.40 2.45 20,282 2.45 2.314 3,103 2.45 0.00 +0.10 +4.26 8 1,916,709 4,601,435.99 AKHI - Alkhaleej Takaful 3.337 3.28 3.28 3.46 850 3.35 3.33 19,125 3.35 0.000 +0.01 +0.39 63 610,776 2,049,606.82 QISI - Islamic Insurance 7.65 7.551 7.551 7.606 3,662 7.8 7.606 1 7.606 7.606 -0.044 -0.58 11 96,176 731,374.486 QAMC - QAMCO 1.421 1.427 1.415 1.490 435,678 1.49 1.489 11,099,433 1.489 1.49 +0.068 +4.79 1,545 97,125,448 140,917,364.104 QIMD - Ind. Manf. Co. 3.08 3.089 3.000 3.089 22,316 3.089 3.01 112,565 3.089 3.09 +0.009 +0.29 7 67,490 203,636.610 QNCD - National Cement Co. 5.205 5.22 5.10 5.22 20,404 5.15 5.13 15,647 5.13 5.130 -0.07 -1.44 59 251,433 1,296,989.59 ZHCD - Zad Holding Company 15.24 15.40 14.70 15.40 5,909 14.94 14.9 22,818 14.90 14.90 -0.34 -2.23 50 131,389 1,951,663.57 IQCD - 12.47 12.31 12.31 12.70 4,200 12.7 12.65 5,076 12.65 12.65 +0.18 +1.44 132 1,554,561 19,518,379.63 UDCD - United Dev. Company 1.635 1.643 1.610 1.648 15,613 1.633 1.632 6,973 1.633 1.633 -0.002 -0.12 140 1,679,407 2,750,486.771 QGMD - Qatar German Co. Med 2.81 2.810 2.778 2.915 29,657 2.866 2.86 101,775 2.866 2.866 +0.056 +1.99 427 6,567,913 18,728,575.676 QIGD - The Investors 2.127 2.135 2.101 2.165 10,000 2.14 2.122 11,981 2.122 2.122 -0.005 -0.23 143 1,964,766 4,185,950.626 ORDS - 7.27 7.28 7.248 7.280 15,238 7.27 7.264 10,163 7.271 0.000 +0.001 +0.01 36 111,560 810,941.519 QEWS - Electricity & Water 16.94 16.94 16.01 17.02 3,625 16.98 16.8 7,787 16.80 16.80 -0.14 -0.83 65 155,321 2,600,263.05 SIIS - Salam International 0.748 0.75 0.74 0.78 341,380 0.77 0.769 130,965 0.77 0.770 +0.02 +2.94 844 65,736,417 50,181,320.72 BLDN - Baladna 1.665 1.667 1.656 1.675 20,000 1.666 1.665 152,014 1.665 1.665 0.000 0.00 335 9,894,465 16,496,845.360 NLCS - National Leasing 1.26 1.261 1.255 1.280 11,929 1.264 1.255 63,029 1.255 1.255 -0.005 -0.40 191 8,454,336 10,672,853.238 QNNS - Qatar Navigation 7.583 7.550 6.825 7.550 6,147 7.403 7.385 5,000 7.403 7.403 -0.180 -2.37 97 545,283 3,959,497.551 MCGS - Medicare 9.30 9.21 9.21 9.45 6,609 9.4 9.3 8,924 9.40 9.40 +0.10 +1.08 72 266,144 2,474,157.60 QCFS - Cinema 3.691 3.689 3.689 3.809 19,864 3.809 3.689 4,207 3.809 0.000 +0.118 +3.20 2 1,205 4,445.845 QFLS - Qatar Fuel 17.60 17.36 17.25 17.50 6,071 17.47 17.45 158 17.47 17.47 -0.13 -0.74 67 342,579 5,945,723.05 WDAM - Widam 5.635 5.64 5.60 5.75 25,000 5.72 5.65 38,250 5.65 0.00 +0.01 +0.27 50 240,730 1,366,093.61 GWCS - Gulf warehousing Co 5.086 5.08 5.07 5.15 1,900 5.098 5.07 35,000 5.07 5.070 -0.02 -0.31 40 354,173 1,797,452.72 QGTS - Nakilat 3.244 3.24 3.19 3.25 30,000 3.215 3.21 365 3.21 3.21 -0.03 -1.05 275 2,414,954 7,757,238.65 DBIS - Dlala 1.773 1.77 1.77 1.81 108,222 1.8 1.795 100,000 1.80 1.800 +0.03 +1.52 129 2,950,620 5,291,812.90 BRES - Barwa 3.193 3.23 3.20 3.25 45,330 3.222 3.22 47,000 3.22 3.220 +0.03 +0.85 342 5,912,247 19,031,022.04 MCCS - Mannai Corp. 3.985 4.000 3.950 4.035 4,000 4.025 4.005 46,534 4.005 4.00 +0.020 +0.50 59 491,374 1,965,651.320 AHCS - Aamal 0.967 0.969 0.969 0.989 76,800 0.976 0.975 258,220 0.975 0.975 +0.008 +0.83 315 11,265,341 11,012,759.631 QOIS - Qatar 0.878 0.879 0.879 0.890 50,000 0.885 0.882 5,785 0.883 0.883 +0.005 +0.57 93 3,271,640 2,885,660.078 ERES - Ezdan Holding 1.786 1.830 1.772 1.845 55,806 1.776 1.775 40,000 1.775 1.775 -0.011 -0.62 1,072 38,092,913 68,855,782.959 IHGS - Inma 5.095 5.150 5.114 5.208 24,301 5.179 5.136 17,200 5.179 5.179 +0.084 +1.65 188 1,546,776 8,000,973.749 GISS - Gulf International 1.557 1.557 1.557 1.590 16,457 1.576 1.561 104,874 1.576 0.000 +0.019 +1.22 180 6,256,661 9,860,571.480 MPHC - 1.864 1.857 1.850 1.865 55,000 1.859 1.856 5,100 1.856 1.856 -0.008 -0.43 193 3,834,169 7,120,717.396 IGRD - Investment Holding 1.053 1.094 1.070 1.113 617,188 1.086 1.085 126,130 1.085 1.085 +0.032 +3.04 666 48,328,380 52,810,478.963 VFQS - Vodafone Qatar 1.813 1.810 1.799 1.830 75,542 1.804 1.803 5,300 1.804 1.804 -0.009 -0.50 136 5,914,947 10,696,063.998 MERS - Al Meera 19.54 19.55 19.40 19.64 13,819 19.63 19.55 95 19.63 19.63 +0.09 +0.46 32 104,187 2,035,383.14 MRDS - Mazaya 1.235 1.24 1.22 1.24 156,000 1.23 1.229 48,687 1.23 1.23 -0.00 -0.40 315 9,882,854 12,183,849.24

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

QE Index 10,563.54 +0.21 % 11-04-2021 Index Day’s Close Pt Chg Chg % Currency Selling (QAR) Buying (QAR) QE Total Return Index 20,902.92 +0.21 % Index 10,563.54 Dow Jones Industrial Average 33,800.60 +297.03 +0.89% US$ 3.6500 3.6305 Change +22.01 Australian Dollar AUD 2.84 2.77 QE Al Rayan Islamic Index - Price 2,459.89 +0.33 % S&P 500 4,128.80 +31.63 +0.77% % +0.21% Bangladeshi Taka BDT 0.047 0.043 QE Al Rayan Islamic Index 4,525.25 +0.33 % FTSE 100 Index 6,915.75 -26.47 -0.38% YTD% +1.22 Canadian Dollar CAD 2.95 2.88 QE All Share Index 3,356.93 +0.20 % Volume 355,644,882 DAX Index 15,234.16 +31.48 +0.21% Euro EUR 4.45 4.35 QE All Share Banks & Value (QAR) 577,223,321.74 CAC 40 Index 6,169.41 +3.69 +0.06% Indian INR 0.052 0.05 Financial Services 4,362.06 +0.21 % 9,398 Nikkei Stock Average 225 29,768.06 +59.08 +0.20% Japanese Yen JPY 0.0338 0.0331 Up 33 | Down 12 | Unchanged 3 Malaysian Ringgit MYR 0.915 ---- QE All Share Industrials 3,495.83 +0.90 % Hang Seng Index 28,698.80 -309.27 -1.07% 10-04-2021 Nepalese Rupee NPR 0.032 0.031 QE All Share Transportation 3,486.59 -1.51 % Shanghai Composite Index 3,450.68 -31.88 -0.92% Index 10,541.53 Pakistani Rupee PKR 0.02439 0.02381 QE All Share Real Estate 1,926.05 +0.17 % Change +43.20 ASX All Ordinaries Index 7,252.30 +2.00 +0.03% Philippine Peso PHP 0.079 0.075 QE All Share Insurance 2,615.67 +0.68 % % +0.41% Pound Sterling GBP 5.1 4.98 QE All Share Telecoms 1,110.50 -0.15 % YTD% +1.01 GOLD AND SILVER South African Rand ZAR 0.25 0.235 Volume 576,151,289 Sri Lankan Rupee LKR 0.0197 0.0175 QE All Share Consumer GOLD QR215.00 per gramme Swiss Franc CHF 43.92 Goods & Services 8,131.15 -0.35 % Value (QAR) 866,850,262.83 Trades 14,129 SILVER QR2.96 per gramme TRY 0.48 0.44