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Monday, April 19, 2021 Ramadan 7, 1442 AH WALL STREET WEEK AHEAD: Page 2 Tech retakes market GULF TIMES lead as US investors BUSINESS eye yields, earnings

Qatar’s real estate market Nakilat fi rst quarter continues to face ‘period of contraction’, says KPMG

atar’s real estate market continues has been increase in inquiries especially to “face a period of contraction”, a for the developments at The Pearl and Lu- net profi t jumps QKPMG report said and noted the sail. Overall, Q3 and Q4 2020 witnessed a decline in rental for residential develop- combined drop of 3.63% on the residential ments was relatively softer compared to rental index compared to 2.53% as wit- other core asset categories such as com- nessed during Q1 and Q2 2020. mercial offi ce and retail. For the commercial offi ce market, the Research showed the drop in rental for impact of Covid-19 was comparatively residential developments, which was still higher than residential segment. Q3 and 14.5% to QR320.1mn lower than other core asset categories, Q4 2020 witnessed a cumulative decline including commercial offi ce and organ- of 7.63% on the rental index compared to akilat has posted a fi rst quar- ised retail mall. 1.56% experienced during the initial two ter net profi t of QR320.1mn, Rentals in the aff ordable housing cat- quarters of 2020. On the organised retail Nup 14.5% on the same period egory continue to stay afl oat while main- mall front, the Covid-19 pandemic led to last year. In the fi rst quarter of 2020, taining stable occupancy levels. The mid- a signifi cant decline in rentals. Nakilat had registered a net profi t of dle-income housing segment continues The rental index experienced a further QR279.5mn. to experience active demand primarily drop of 8.77% over the last two quarters Nakilat remained committed in due to movement of tenants seeking bet- of 2020 from 2.36% as witnessed during achieving its vision and continued to ter value proposition, which includes Q1 and Q2 2020. deliver robust fi nancial performance locational advantages, superior off ering Anurag Gupta, director and head and sustained operational excel- at competitive rental due to added incen- (Strategy and Real Estate Advisory) at lence, despite the challenges brought tives such as rent-free periods of one to KPMG in Qatar said, “The real estate about by the Covid-19 pandemic. two months, free utility bills and better market continues to face a period of con- The company maintained its ex- services as well as upliftment in ameni- traction in both volume and price. Fol- cellent track record of delivering ties, KPMG said. lowing the large drop in the quarterly clean energy to worldwide destina- While the drop in the rentals for the rentals due to the pandemic, real estate tions without any interruptions, up- high-end housing segment has been pri- activity exhibited signs of improvement holding its commitment to provide marily due to competitive landscape, there towards the end of 2020. To Page 8 safe, reliable, and effi cient shipping and maritime services. Additionally, the Nakilat group continues to strengthen its value proposition, with the ship repair, MoCI begins receiving permits of off shore fabrication, towage and other maritime services remaining real beneficiary on request for full operational and contributing to- wards the company’s vision to be a registration in commercial register global leader and provider of choice for energy transportation and mari- QNA renewed, unless the declaration of the real time services, as well as Qatar’s 2030 Doha beneficiary is attached to it or if the submit- vision. ted permit contains incomplete information. With “solid business continuity The MoCI underlined the need for com- plans and robust infrastructures” in The Ministry of Commerce and Industry mercial companies to submit a special place, Nakilat said it has been able to (MoCI) announced the start of receiving record of the required information about “swiftly adapt” to the evolving situa- Nakilat remained committed in achieving its vision and continued to deliver robust fi nancial permits related to the real beneficiary upon the real beneficiaries to the Commercial tion and remain focused on creating performance and sustained operational excellence, despite the challenges brought about by the requesting registration, amendment, or Registration and Licences Department value for its shareholders and cus- Covid-19 pandemic renewal of the commercial register for com- within ten days from the date of the declara- tomers. mercial companies as of today. tion of the real beneficiary, in addition to the Nakilat’s Board of Directors com- ganisations that have reached the management systems across all op- ensure our robust fi nancial perform- In a statement, MoCI said that this obligation to update the required infor- mended the company’s continued pinnacle of excellence in managing erations. Nakilat’s Board of Directors ance. In line with Nakilat’s “commit- procedure comes within the framework of mation if any change occurs to it per the excellence in health, safety and en- the company’s health, safety and en- expressed their appreciation to all ment” on providing the “best prac- implementing the provisions of Law No (1) requirements of the legislation in force. vironmental management, which vironmental risks. relevant authorities, including Qatar tices” in investor relations and its of 2020 regarding the unified economic The ministry also stressed the need to ad- was recently recognised and awarded In addition, the company was re- Petroleum for its ongoing support strategy to engage shareholders and registry and its executive regulations issued here to the provisions stipulated in Law No the ‘Sword of Honour’ by the British cently certifi ed for ISO 22301:2019 of Nakilat’s activities, QP Industrial investors, the company will hold an by Cabinet Resolution No (12) of 2020. (1) of 2020 regarding the unified economic Safety Council for the third consecu- (Business Continuity Management Cities for its co-operation with the investor relations conference call to- The ministry clarified that, as of today, any registry and its executive regulations to tive year. Systems), demonstrating its proac- Erhama Bin Jaber Al Jalahma Ship- day (at 1:30pm local time) to discuss application for registration in the commer- avoid legal accountability and administra- The ‘Sword of Honour’ is a pres- tive approach in ensuring the ma- yard, and its strategic partner Qa- the company’s fi nancial results for cial register wont be accepted, modified or tive and financial sanctions. tigious international award for or- turity of its business continuity targas, in playing a signifi cant role to the fi rst quarter.

Ooredoo Group continues winning streak with host of new awards in 2021 Group and its operating companies the best of the Internet.” Ooredoo won four World CSR Day 2021. These awards recognise were recognised with more than 30 prestigious new awards at this year’s Middle East Stevie the company’s work with communities international and local business awards over Awards, taking two gold, one silver, and one in Myanmar in the areas of ‘Best Covid-19 the past six months, including 14 in 2021. bronze. Solutions for Community Care’ and ‘Women These awards recognise excellence in the The Stevie Awards are the world’s premier Empowerment’. areas of market-leading product off erings, business awards competitions, recognising won the title for most business and technology innovation, as business achievement worldwide. ‘Outstanding Telecommunications Company’ well as a commitment to corporate social Ooredoo Qatar won a Gold Award for the at the 2021 Corporate Excellence Awards. responsibility and a great workplace category of ‘Innovation in Technology These awards are organised by Corporate environment. Development - Telecommunications Industries’ Vision Magazine and showcase companies and In the first quarter of the year, Ooredoo for its innovative work in the area of 5G and individuals across a range of industries that Group won four awards at the Middle East smart cities. are most committed to innovation, business Stevie Awards to add to earlier wins at the CV The award recognised Ooredoo Qatar’s growth and providing the best products and Magazine Corporate Excellence Awards, the leadership role in accelerating 5G services to their clients. International Business Magazine Awards, and transformation in the country and for Ooredoo Group won a raft of awards the Global CSR Excellence and Leadership pioneering innovative 5G-use cases across recognising its strong corporate culture and Awards, among others. industries including sports, healthcare, highlighting it as a great place to work. Sheikh Mohamed bin Abdulla al-Thani, Deputy transportation and smart city applications. Ooredoo Oman was awarded ‘Best Employee Group CEO, Ooredoo, said: “These awards was named the winner of Experience Oman 2021’ at the International reflect the unwavering drive and dedication a Gold Stevie in the category ‘Innovation in Business Magazine (IBM) Awards 2021, while of the company and its people to uphold Business Information Apps’ for its customer- Ooredoo Group and its operating companies were recognised with more than Ooredoo was the winner in three the highest standards, even in the most centric solutions and flagship features under 30 prestigious international and local business awards over the past six months, categories at the Indonesia Best Employer challenging times. the My Ooredoo App. including 14 in 2021 Brand Awards 2021. “It is gratifying to see our eff orts to deliver These include ‘ANA’, Kuwait’s first customisable The company won the awards for ‘Excellence best-in-class mobile connectivity and digital mobile plan, and ‘Ooredoo Surprise’, Stevie Award in the category ‘Innovative a series of awards for its commitment to good in HR through Technology’, ‘Talent innovative products being widely recognised. which provides personalised off ers based on Achievement in Growth’ and a Bronze Stevie corporate governance, leadership and social Management’, and ‘Best Employer Brand’. This only inspires us to continue in our mission customers’ usage patterns and interests to in the category ‘Innovation in Customer responsibility during the pandemic. Ooredoo The awards are hosted annually by The to enrich people’s digital lives and enhance ensure the best customer experience possible. Service Management, Planning & Practice – Myanmar won two prestigious awards for Employer Branding Institute and the World their online experience so they can enjoy Ooredoo Kuwait also received a Silver Telecommunications Industries’. Ooredoo won Global CSR Excellence and Leadership at HRD Congress. To Page 8 Gulf Times 2 Monday, April 19, 2021 BUSINESS Wall Street investors eye yields, earnings

Reuters so-called value stocks have slowed “People are probably taking a lit- gain command after years of lagging, New York lately, while US Treasury prices have tle bit of a deep breath and saying, as investors seize on shares expected come galloping back in April after a ‘OK, maybe rates aren’t going to to benefit most from what the Federal sharp first-quarter sell-off. go straight to (2.50%),’” said Chris Reserve expects will be the strongest S technology and growth This suggests that some investors Galipeau, senior market strategist at economic growth in nearly 40 years. stocks have taken the mar- may have already priced in a rapid Putnam Investments. “My guess is we will see more of Uket’s reins in recent weeks, growth spurt that is showing up in Shares of tech and other compa- this internal rotation where growth pausing a rotation into value shares economic data. nies with strong “stay-at-home” takes a break and then it comes on as investors assess the trajectory of “Tech and growth has started to businesses could also strengthen if and then value takes a break and then bond yields and upcoming earnings pick up a little bit because people are there are snags in the countrywide it comes on,” Galipeau said. “It won’t reports. getting a little more cautious,” said vaccination drive or other problems surprise me if that continues for a Technology has been the top- Lindsey Bell, chief investment strat- with the recovery, investors said. couple of years.” performing S&P 500 sector in April, egist at Ally Invest. “Investors are For example, a call by US health Others have become more wary of rising 8% versus a 5% rise for the in this wait-and-see mode...at least agencies this week to pause use of the equity market in general. benchmark index. until earnings get underway.” Johnson & Johnson’s coronavirus Strategists at BofA Global Research Big tech-related growth stocks in One of the key drivers of the move vaccine spurred a move into some recently issued a report listing five other S&P 500 sectors such as Ama- in tech has been the Treasury market, stay-at-home stocks and out of trav- reasons for caution on stocks, in- zon Inc, Tesla Inc and Google-parent with the benchmark 10-year note el names tied to the economic reo- cluding high valuations and outsized Alphabet Inc have also charged high- yield falling about 15 basis points in pening. returns over the past year. er. April to about 1.6% on Friday. Investors also pointed to the im- The bank kept its year-end S&P The gains have followed a months- Higher bond yields are particularly pending influx of quarterly reports 500 target at 3,800, some 9% below long rotation in which tech stocks challenging for the performance of as key to determining market leader- current levels. were outpaced by shares of banks, tech and other shares with high valu- ship, with Netflix Inc and Intel Corp The index has risen 11% this year. energy companies and other eco- ations and high expected future prof- among the major tech and growth “Amid increasingly euphoric sen- nomically-sensitive names that have its, as rising yields reduce the stocks’ company earnings due next week. timent, lofty valuations, and peak The front facade of the New York Stock Exchange. US technology and growth surged since breakthroughs in Cov- values in many standard models. Many investors think the recent stimulus, we continue to believe the stocks have taken the market’s reins in recent weeks, pausing a rotation into id-19 vaccines late last year. The 10-year yield rose about 83 market shift is just a pause, with market has overly priced in the good value shares as investors assess the trajectory of bond yields and upcoming The increases in many of these basis points in the first quarter. value and cyclical stocks due to re- news,” BofA’s strategists wrote. earnings reports. Gulf Times 6 Monday, April 19, 2021 BUSINESS

Asia’s tycoons pile into SPACs just as China’s Internet stocks US eyes tighter rules

Bloomberg The latest moves by the Tokyo SEC “no doubt mean that the clearing of SEC registration statements of Asian SPACs face more pain, say Asia’s billionaires had only just (and indeed SPACs elsewhere started taking to blank-check in the world) will likely take companies, but now the SPAC longer as the issuer considers boom is deflating on Wall Street. their impact and addresses the After a frenzy of listings by likely related comments from special purpose acquisition the SEC staff,” said Thomas companies – 326 have raised Vita, corporate finance partner top global investors over $101bn this year – the at global law firm Norton Rose whole pipeline is now in limbo Fulbright. Bloomberg Microsoft Corp’s alleged soft- due to regulatory overhang, Asian SPACs have raised Beijing ware monopoly took more than including a number of deals $3.1bn this year, already exceed- half a decade of back-and-forth by Asian investment firms and ing the tally from such deals before settling in 2004. Cur- tycoons. in all of 2020. While still small, fter a historic antitrust rent hearings involving US tech Gateway Strategic Acquisition the fast-expanding volume crackdown on China’s titans from Google to Facebook Co, backed by buyout firm Gaw underscores the growing appeal Abiggest tech companies Inc span several fronts, multiple Capital Advisors Ltd, Artisan of SPACs to the region’s business last week, investors are betting cases and plaintiff s, and may not Acquisition Corp, backed by entrepreneurs. there is more pain ahead. see the inside of a courtroom for New World Development Co’s A cooling off in the SPAC GAM Investments, BNP Pari- years to come. Adrian Cheng and Hony Capital market may not be all bad news, bas Asset Management and JP In contrast, Beijing regulators Acquisition Corp are some of the given the bubble-like quality it Morgan Asset Management Inc torpedoed Ant’s IPO the month Asian SPACs that are waiting in had garnered. see more regulatory tighten- after Ma’s infamous speech, the wings to list in the US. “The SPACs which have listed ing in China’s clampdown on published new rules shortly af- They all filed over two weeks in US before the SEC flashed monopolistic practices, putting ter intended to curb monopolis- ago, meaning they can launch the amber light recently do not pressure on the country’s leading tic practices across its Internet the initial public off ering, but necessarily have the first-mover Internet stocks over the next few landscape, then launched its have yet to do so. But they are advantage over aspiring Asian months. The Hang Seng Tech probe into Alibaba. now waiting until market senti- sponsors and promoters,” said Index, where many Chinese tech “Clarity reduces uncertainty, ment improves, according to Robson Lee, partner at Gibson giants are listed, has already lost so this is a positive,” said Joshua people familiar with the matter. Dunn. about a quarter of its value from Crabb, a portfolio manager at The US Securities and Ex- The surge in the number of a rout that began mid-February. Robeco in Hong Kong. change Commission this week SPAC listings in the US does not The shockwaves from Bei- That has helped give inves- put a dampener on the SPAC guarantee successful mergers jing’s bid to quell abuses of in- China slapped a record $2.8bn earlier this year. By contrast, Tech Index is trading at about tors more optimism for the long party by setting forth new guid- with viable target businesses formation and market domi- fi ne on Alibaba Group Hold- the Nasdaq 100 index is up more 38 times its 12-month earnings term. Money managers see the ance that warrants, which are and it appears to be a phenom- nance among industry leaders ing Ltd after a four-month long than 8% this year despite en- estimates versus the 29 times potential for tech companies to issued to early investors in the enon of market frenzy, he added. have left global investors pon- investigation into the e-com- tering a technical correction in multiple of its American coun- boost earnings as digital tech- deals, might not be considered The US regulator had also dering the prospects of China’s merce giant’s market practices, March. terpart. nologies catch on for everything equity instruments and may warned listing candidates that Internet fi rms. The antitrust then ordered an overhaul of Ant Looking ahead, China’s tech “We have already applied a from e-commerce and enter- instead be liabilities for account- structuring as a SPAC isn’t an crackdown has exacerbated a Group Co. Over the past week, companies are likely to move valuations discount to the whole tainment to social media, a trend ing purposes. That threatens to end-around to avoid disclosing global tech selloff sparked by ris- more than 30 tech giants issued far more cautiously on acquisi- Chinese Internet sector to fac- that has been accelerated by the disrupt filings for blank-check key information to investors. To ing bond yields, as traders fore- pledges to obey antitrust laws tions, over-compensate on get- tor in higher regulation risks,” pandemic. companies until the issue is top it off , SPACs are no longer cast tighter liquidity conditions after Beijing gave them a month ting signoff s from Beijing, and said Jian Shi Cortesi, a Zurich- Meanwhile, mainland traders resolved. buzzing as they once were, go- at home and abroad and lower to conduct reviews and comply levy lower fees on the domestic based fund manager at GAM. have kept the faith. They still hold It’s bad timing for Asia’s en- ing so far to even underperform company valuations. with government guidelines. internet traffi c they dominate. The $132bn asset manager has about 6.5% stake in Tencent, the trepreneurs. In addition to those traditional IPOs. “Regulations for China Inter- Alibaba shares have slumped This coincides with some facing reduced its exposure to the sec- highest in at least three years, ac- waiting to launch, more SPACs “It will be interesting to see net companies, especially the big 23% in Hong Kong from a peak in delisting threats and sales curbs tor in the past few months amid cording to calculations by Bloomb- are being planned by the likes what happens in the US on the ones, will continue to tighten in October. Food delivery platform in the US, and others reverber- high valuations, she added. erg based on exchange data. of Hong Kong’s richest property regulatory front. Asian regula- 2021,” said Marcella Chow, glo- Meituan and tech giant Tencent ating from a selloff sparked by Keep the faith: That said, Bei- “Post this round of regula- tycoon Li Ka-shing, New Frontier tors and stock exchanges will be bal market strategist at JP Mor- Holdings Ltd, which have been Archegos Capital Management. jing has moved far faster with its tion scrutiny, we believe the Group Ltd, backed by the China- watching closely,” said Johannes gan Asset. “This uncertainty on analyst radars for regulatory Valuations too are serving as antitrust reforms than the US Chinese Internet industry focused Nan Fung Group and Juette, partner at law firm Clif- may act as a cap for some com- probes, are down 36% and 18%, a deterrent for investors. Even and Europe have in similar ef- will resume healthy growth,” private equity firm EmergeVest. ford Chance. panies temporarily.” respectively, from their peaks after its decline, the Hang Seng forts. The landmark case against GAM’s Cortesi said. Gulf Times Monday, April 19, 2021 7 BUSINESS

KUWAIT KUWAIT OMAN

Company Name Lt Price % Chg Volume Company Name Lt Price % Chg Volume Company Name Lt Price % Chg Volume

Kuwait Real Estate Holding C 29.90 -0.33 100,001 Oman Qatar Insurance Co 0.10 0.00 - Al Salam Group Holding Co 24.00 1.27 1,833,915 Kuwait Reinsurance Co Ksc 386.00 0.00 - Oman Packaging 0.31 0.00 - Al Tamdeen Investment Co 206.00 -1.44 6,051 Kuwait Remal Real Estate Co 17.80 -3.26 478,218 Oman Oil Marketing Company 0.72 0.00 - Al-Ahleia Insurance Co Sakp 463.00 -3.14 1,827 Kuwait Resorts Co Kscc 65.70 0.46 510,220 Oman National Engineering An 0.09 -1.11 15,541 Al-Deera Holding Co 210.00 3.96 31,699 Kuwait Telecommunications Co 900.00 0.00 35,433 Oman Investment & Finance 0.09 6.25 1,324,348 Al-Eid Food Ksc 193.00 -1.53 242,382 Kuwaiti Syrian Holding Co 27.00 0.00 - Oman Flour Mills 0.70 0.00 151 Al-Enma’a Real Estate Co 59.00 -2.48 8,855,807 Livestock Transport & Tradng 182.00 -1.09 61,002 Oman Fisheries Co 0.09 0.00 650 Al-Madar Finance & Invt Co 99.00 0.41 1,011,774 Mabanee Co Kpsc 706.00 -1.26 170,374 Oman Europe Foods Industries 1.00 0.00 - Al-Massaleh Real Estate Co 41.80 0.00 89,500 Manazel Holding 47.30 8.74 17,616,786 Oman Education & Training In 0.24 0.00 - Al-Mazaya Holding Co 65.50 -0.46 1,164,890 Mashaer Holding Co Ksc 64.50 0.00 539,187 Oman Chromite 3.64 0.00 - QATAR Alargan International Real 109.00 0.00 - Mena Real Estate Co 37.80 1.07 1,964,736 Oman Chlorine 0.25 0.00 - Alimtiaz Investment Group 114.00 0.00 529,907 Metal & Recycling Co 175.00 1.16 56,630 Oman Ceramic Company 0.42 0.00 - Company Name Lt Price % Chg Volume Alkout Industrial Projects C 642.00 0.00 - Mezzan Holding Co Kscc 577.00 -0.17 58,360 Oman Cement Co 0.23 -3.32 162,850 Alrai Media Group Co Ksc 29.70 21.22 11,500 Mobile Telecommunications Co 603.00 0.00 981,770 Oman Cables Industry 0.65 5.19 613,509 Zad Holding Co 15.00 -1.06 12,795 Amar Finance & Leasing Co 48.10 0.00 - Mubarrad Holding Co Ksc 74.10 5.86 9,608,732 Oman Arab Bank Saog 0.15 0.00 - Widam Food Co 5.62 0.52 104,352 Amwal International Investme 16.70 -15.23 82,000 Munshaat Real Estate Project 76.00 0.00 - Oman & Emirates Inv(Om)50% 0.04 0.00 - Vodafone Qatar 1.75 -0.57 6,816,103 Aqar Real Estate Investments 71.00 -1.39 2,157,040 National Bank Of Kuwait 826.00 -0.48 2,505,618 Natl Aluminium Products 0.10 -9.91 390,000 United Development Co 1.64 -0.24 1,139,567 Arkan Al Kuwait Real Estate 98.30 0.10 12,206 National Cleaning Company 48.30 0.84 207,000 National Real Estate Develop 5.00 0.00 - Salam International Investme 0.74 -0.27 15,979,875 Arzan Financial Group For Fi 109.00 0.93 1,897,673 National Consumer Holding Co 43.00 -1.15 199 National Mineral Water 0.09 0.00 - Qatar & Oman Investment Co 0.87 -0.11 818,767 Asiya Capital Investments Co 35.70 0.00 18,808 National Industries Co Ksc 150.00 0.00 - National Life & General Insu 0.38 0.00 10,360 Qatar Navigation 7.50 0.01 12,172 Automated Systems Co Kscc 96.00 1.16 710,600 National Industries Grp Hold 208.00 1.96 3,218,735 National Gas Co 0.14 0.00 - Qatar National Cement Co 4.97 -0.60 316,704 Aviation Lease And Finance C 210.00 0.48 545,815 National International Co 75.30 0.40 16,900 National Finance Co 0.12 0.00 - Qatar National Bank 17.81 777,804 -0.45 Bahrain Kuwait Insurance 191.00 0.00 - National Investments Co 185.00 1.09 1,295,300 National Detergent Co Saog 0.67 0.00 - Qlm Life & Medical Insurance 5.06 242,204 0.10 Bayan Investment Co Kscc 37.80 4.71 35,518,083 National Mobile Telecommuni 649.00 -0.15 53,233 National Biscuit Industries 3.96 0.00 - Qatar Islamic Insurance Grou 7.55 -0.66 20,480 Boubyan Bank K.S.C 630.00 0.48 2,106,139 National Petroleum Services 1,000.00 0.00 - National Bank Of Oman Saog 0.15 2.03 994,865 Qatar Industrial Manufactur 2.91 -2.81 58,245 Boubyan Petrochemicals Co 903.00 -0.11 186,577 National Real Estate Co 94.80 1.39 7,025,044 Muscat Thread Mills Co 0.08 0.00 - Qatar International Islamic 9.10 -1.29 977,030 Boursa Kuwait Securities Co 1,109.00 -0.63 281,192 National Shooting Company 38.20 -2.05 99,750 Muscat Insurance Co Saog 0.35 0.00 - Qatari Investors Group 2.15 -0.32 1,501,181 Burgan Bank 222.00 0.45 2,248,693 Noor Financial Investment Co 234.00 1.74 473,826 Muscat Gases Company Saog 0.19 0.00 500 Qatar Islamic Bank 17.90 -1.65 1,145,938 Burgan Co For Well Drilling 142.00 0.00 389,500 Osos Holding Group Co 89.00 0.00 - Muscat Finance 0.04 2.38 244,000 Qatar Gas Transport(Nakilat) 3.21 -0.16 3,072,529 Coast Investment Development 41.40 0.98 515,803 Osoul Investment Kscc 76.50 0.00 - Muscat City Desalination Co 0.09 0.00 - Qatar General Insurance & Re 2.44 -0.04 10,005 Combined Group Contracting 243.00 -1.22 798,526 Oula Fuel Marketing Co 122.00 0.83 64,380 Musandam Power Co 0.32 0.00 - Qatar German Co For Medical 2.78 -0.64 810,779 Commercial Bank Of Kuwait 500.00 0.00 - Palms Agro Production Co 66.50 0.00 - Majan Glass Company 0.18 0.00 - Qatar Fuel Qsc 17.90 -1.65 221,526 Commercial Facilities Co 187.00 1.08 142,135 Privatization Holding Compan 42.90 0.94 6,315,440 Majan College 0.15 0.00 - Qatar First Bank 1.93 -0.36 943,953 Commercial Real Estate Co 96.30 -1.73 16,402,962 Qurain Petrochemical Industr 0.99 309,866 Hsbc Bank Oman 0.00 - Qatar Electricity & Water Co 17.03 -0.70 561,723 408.00 0.10 Credit Rating & Collection 28.40 0.00 - Ras Al Khaimah White Cement Hotels Management Co Interna - Qatar Exchange Index Etf 10.88 -0.30 160,039 67.00 0.00 - 1.25 0.00 Danah Alsafat Foodstuff Co 11.80 0.00 - Real Estate Asset Management Gulf Stone Qatar Cinema & Film Distrib 3.81 0.00 - 90.20 0.00 - 0.12 0.00 - Dar Al Thuraya Real Estate C 52.00 3.38 169,143 Real Estate Trade Centers Co Gulf Mushroom Company Al Rayan Qatar Etf 2.56 -0.97 412,906 30.00 0.33 369,289 0.25 0.00 - Dulaqan Real Estate Co 0.00 Qatar Insurance Co 2.48 0.32 191,661 274.00 - Salbookh Trading Co Kscp 38.00 0.53 1,476,037 Gulf Invest. Serv. Pref-Shar 0.00 0.00 - Educational Holding Group Qatar Aluminum Manufacturing 1.45 -0.21 7,660,012 572.00 0.00 - Salhia Real Estate Co Ksc 530.00 0.19 63,395 Gulf International Chemicals 0.10 0.00 - Ooredoo Qpsc 7.03 -1.28 809,345 Eff ect Real Estate Co 20.50 0.00 - Sanam Real Estate Co Kscc 45.00 8.70 161,000 Gulf Hotels (Oman) Co Ltd 3.88 0.00 - Alijarah Holding Company Qps 1.24 -0.32 1,550,155 Egypt Kuwait Holding Co Sae 359.00 0.00 - Securities House/The 49.60 1.64 7,594,055 Global Fin Investment 0.05 0.00 - Mazaya Real Estate Developme 1.22 -0.57 4,609,096 Ekttitab Holding Co Sak 16.00 -1.23 47,988 Shamal Az-Zour Al-Oula For T 266.00 -0.37 2,410,759 Galfar Engineering&Contract 0.05 4.08 4,443,381 Mesaieed Petrochemical Holdi 1.85 -0.54 6,657,056 Energy House Holding Co Kscp 27.00 1.12 278 Sharjah Cement & Indus Devel 40.00 2.04 521,307 Galfar Engineering -Prefer 0.39 0.00 - Al Meera Consumer Goods Co 19.55 0.00 54,881 Equipment Holding Co K.S.C.C 28.20 -2.08 77,143 Shuaiba Industrial Co 180.00 2.86 13,214 Financial Services Co. 0.18 0.00 - Medicare Group 9.40 0.83 51,051 First Dubai Real Estate Deve 49.00 0.62 1,046,945 Sokouk Holding Co Sak 23.30 0.00 - Financial Corp/The 0.08 0.00 - Mannai Corporation Qsc 4.02 -0.62 28,081 First Investment Co Kscc 76.30 4.52 20,890,695 Soor Fuel Marketing Co Ksc 120.00 0.84 31,355 Dhofar Tourism 0.49 0.00 - Masraf Al Rayan 4.46 -1.70 7,348,368 First Takaful Insurance Co 48.50 0.00 - Specialities Group Holding C 78.40 0.64 107,800 Dhofar Poultry 0.18 0.00 - Al Khalij Commercial Bank 2.18 0.09 4,147,421 Fujairah Cement Industries 32.00 3.90 50,000 Sultan Center Food Products 102.00 2.00 1,278,347 Dhofar Intl Development 0.27 0.00 - Industries Qatar 12.51 -2.27 469,119 Future Kid Entertainment And 82.00 0.00 - Taameer Real Estate Invest C 21.80 8.46 13,900,358 Dhofar Insurance 0.16 0.00 - Inma Holding Company 5.10 -0.76 162,425 Gfh Financial Group Bsc 53.60 -0.56 2,908,500 Tamdeen Real Estate Co Ksc 241.00 -0.82 26,850 Dhofar Generating Co Saoc 0.16 0.00 - Investment Holding Group 1.05 0.86 13,991,304 Gulf Bank 213.00 -0.47 8,949,482 Tamkeen Holding Co 0.00 0.00 - Dhofar Fisheries & Food Indu 1.28 0.00 - Gulf Warehousing Company 5.07 0.04 1,837,026 Gulf Cable & Electrical Ind 820.00 -0.24 60,897 Tijara And Real Estate Inves 47.30 2.83 8,675,017 Dhofar Cattlefeed 0.09 -2.17 10,000 Gulf International Services 1.49 -1.13 5,904,956 Gulf Franchising Holding Co 60.40 0.00 - Umm Al Qaiwain General Inves 75.00 0.00 - Dhofar Beverages Co 0.26 0.00 - Al Faleh Education Holding 2.45 -2.00 2,761,687 Gulf Insurance Group Ksc 624.00 0.65 11,603 Unicap Investment And Finance 49.50 4.43 1,437,865 Construction Materials Ind 0.03 0.00 - Ezdan Holding Group 1.74 -1.08 5,779,401 Gulf Investment House Ksc 128.00 0.00 1,293,876 Computer Stationery Inds 0.26 0.00 - Doha Insurance Co 1.87 -1.32 56,000 Gulf North Africa Holding Co 59.70 0.00 - Bankmuscat Saog 0.39 0.00 2,775,711 Doha Bank Qpsc 2.34 0.30 5,629,978 Gulf Petroleum Investment 19.00 -0.52 2,833,157 OMAN Bank Nizwa 0.09 -1.05 11,300 Dlala Holding 1.75 -0.96 234,655 Hayat Communications 72.00 1.84 192,610 Bank Dhofar Saog Company Name Lt Price % Chg Volume 0.10 -1.92 15,000 Commercial Bank Psqc 5.24 -3.61 4,855,227 Heavy Engineering And Ship B 427.00 -0.23 397,626 Arabia Falcon Insurance Co 0.10 0.00 - Barwa Real Estate Co 3.25 0.62 15,549,452 Hilal Cement Co 81.00 0.00 - Aman Real Estate Inve Reit 0.09 0.00 - Baladna Voltamp Energy Saog 0.13 0.00 - 1.70 1.55 25,509,387 Humansoft Holding Co Ksc 3,847.00 0.39 270,223 Aloula Co 0.04 0.00 - Al Khaleej Takaful Group 3.70 1,649,959 Vision Insurance Saoc 0.08 -8.54 93,750 -5.56 Ifa Hotels & Resorts Co. K.S 42.50 8.97 9,904,172 Al-Omaniya Financial Service 0.08 0.00 12,000 Aamal Co 0.95 2,880,508 United Power/Energy Co- Pref 0.90 0.00 - -0.52 Independent Petroleum Group 490.00 0.00 - Al-Hassan Engineering Co 0.01 0.00 - Al Ahli Bank 3.70 - United Power Co Saog 0.81 0.00 - 0.00 Injazzat Real State Company 71.40 -4.80 11,000 Al-Fajar Al-Alamia Co 0.69 0.00 - United Finance Co 0.04 0.00 400 Inovest Co Bsc 88.40 0.45 4,997,448 Al-Anwar Ceramic Tiles Co 0.33 0.00 15,600 Ubar Hotels & Resorts 0.13 0.00 - KUWAIT Integrated Holding Co Kcsc 414.00 0.24 120,247 Al Suwadi Power 0.06 -3.39 71,050 Takaful Oman 0.11 0.00 - Intl Financial Advisors 111.00 2.78 1,808,634 Al Sharqiya Invest Holding 0.08 2.53 2,920,680 Taageer Finance 0.08 0.00 - Company Name Lt Price % Chg Volume Investors Holding Group Co.K 15.40 6.21 11,561,177 Al Maha Petroleum Products M 0.57 0.00 - Sweets Of Oman 0.55 0.00 - Jazeera Airways Co Ksc 620.00 -1.12 471,197 Al Maha Ceramics Co Saoc 0.27 -2.91 116,479 A’ayan Real Estate Co Sak 102.00 8.28 20,100,004 Sohar Power Co 0.05 0.00 - Jiyad Holding Co Ksc 41.00 9.33 775,417 Al Madina Takaful Co Saoc 0.09 -3.33 243,000 Aan Digital Services Co 11.00 0.92 2,276,386 Sohar International Bank 0.09 1.12 18,400 Kfh Capital Reit 1,068.00 0.38 18,614 Al Madina Investment Co 0.02 -4.55 305,000 Aayan Leasing & Investment 148.00 4.96 10,611,210 Smn Power Holding Saog 0.07 0.00 427,709 Kgl Logistics Company Kscc 28.50 4.78 3,214,140 Al Kamil Power Co 0.25 0.00 - Acico Industries Co Kscc 85.80 0.94 350,367 Shell Oman Marketing - Pref 1.05 0.00 - Kipco Asset Management Co 85.00 -0.58 1,533,690 Al Jazerah Services -Pfd 0.55 0.00 - Advanced Technology Co 520.00 0.00 - Shell Oman Marketing 0.80 0.00 500 Kuwait & Gulf Link Transport 49.00 0.82 571,061 Al Jazeera Steel Products Co 0.27 4.33 1,222,644 Agility 758.00 0.53 723,666 Sharqiyah Desalination Co Sa 0.12 -2.42 10,000 Kuwait & Middle East Fin Inv 137.00 0.74 96,050 Al Jazeera Services 0.31 -0.64 124,000 Ahli United Bank (Almutahed) 314.00 0.32 297,646 Sembcorp Salalah Power & Wat 0.08 0.00 - Kuwait Business Town Real Es 64.50 -2.27 1,777,428 Al Buraimi Hotel 0.88 0.00 - Ahli United Bank B.S.C 214.00 -0.47 6,561,523 Salalah Port Services 0.60 0.00 - Kuwait Cement Co Ksc 234.00 0.86 130,482 Al Batinah Power 0.06 1.79 25,650 Ajial Real Estate Entmt 198.00 -1.49 55,900 Salalah Mills Co 0.55 0.00 - Kuwait Co For Process Plant 566.00 0.53 25,821 Al Batinah Hotels 1.13 0.00 - Ajwan Gulf Real Estate Co 10.70 0.00 - Salalah Beach Resort Saog 1.38 0.00 - Kuwait Finance & Investment 110.00 -0.90 1,895,345 Al Batinah Dev & Inv 0.06 -9.84 35,000 Al Ahli Bank Of Kuwait 200.00 -0.99 10,350 Sahara Hospitality 2.78 0.00 - Kuwait Finance House 720.00 -0.28 3,769,817 Al Anwar Investments Co Sao 0.08 -6.82 5,021,299 Al Arabi Group Holding Co 198.00 0.00 - Renaissance Services Saog 0.38 1.06 50,000 Kuwait Financial Centre Sak 87.50 0.34 500,414 Al Ahlia Insurance Co Saoc 0.31 0.00 - Al Arabiya Real Estate Co 27.20 -1.09 570,500 Raysut Cement Co 0.27 2.28 102,900 Kuwait Foundry Co Sak 274.00 0.00 17,531 Ahli Bank 0.11 -0.92 14,084 Al Bareeq Holding 91.00 0.00 91,535 Phoenix Power Co Saoc 0.05 0.00 132,221 Kuwait Hotels Sak 55.90 -5.57 138,256 Acwa Power Barka Saog 0.48 0.00 - Al Madina For Finance And In 16.20 0.00 - Packaging Co Ltd 2.21 0.00 - Kuwait Insurance Co 389.00 -9.53 9,071 Abrasives Manufacturing Co S 0.05 0.00 - Al Maidan Dental Clinic Co K 1,240.00 0.00 - Ooredoo 0.38 -4.98 167,420 Kuwait International Bank 205.00 -0.49 1,043,267 A’saff a Foods Saog 0.50 0.00 - Al Mal Investment Company 5.90 0.00 - Ominvest 0.30 0.67 7,900 Kuwait Investment Co 170.00 3.03 3,336,620 0Man Oil Marketing Co-Pref 0.25 0.00 - Al Manar Financing & Leasing 63.60 -0.63 31,000 Oman United Insurance Co 0.38 -1.55 50,000 Kuwait National Cinema Co 732.00 0.00 - Al Masaken Intl Real Estate 35.70 5.93 3,670,494 Oman Telecommunications Co 0.75 -1.58 61,200 Kuwait Portland Cement Co 887.00 0.00 - Al Mudon Intl Real Estate Co 20.60 0.00 - Oman Reit Fund 0.10 0.00 - Kuwait Projects Co Holdings 162.00 -0.61 1,108,001 Al Safat Energy Holding Comp 31.70 2.26 740,231 Oman Refreshment Co 1.32 0.00 - Kuwait Real Estate Co Ksc 138.00 0.00 2,970,721 LATEST MARKET CLOSING FIGURES EM bulls brace for Treasury relapse after rally

Bloomberg commerce, releases trade data on the first Singapore 20 days of April on Wednesday. Thailand will publish customs-trade figures for March on Thursday. Emerging-market bulls who’ve benefited The baht’s 4.1% drop leads emerging Asia from moderating US Treasury yields are losses in 2021. bracing for a relapse as political risks What to watch: Brazil traders will moni- also pile up. tor federal budget negotiations ahead MSCI Inc.’s developing-nation stock gauge of an April 22 deadline for President Jair extended a three-week winning streak on Bolsonaro to decide on a veto. Friday, while a basket of currencies just Today, a reading of the nation’s capped its biggest weekly advance since February economic activity is expected early February. to show a 10th straight monthly increase The risk premium on emerging-market while slipping on a year-over-year basis, sovereign debt also narrowed to 339 according to economists surveyed by basis points over US Treasuries, its lowest Bloomberg. since February 2020, according to data The country’s benchmark stock index compiled by JPMorgan Chase & Co. Yet extended on Friday its longest winning the rally is prompting some traders to streak since last November. reassess their bets. Argentina’s February economic activ- Russian shares, which led last week’s ity may reflect a slide in industrial and equity advance, may come under pressure construction activity, interrupting the as the Biden administration evaluates its nation’s recovery, according to Bloomberg options to escalate sanctions. Economics. South Africa’s rand, the top currency The peso, which led declines among major performer in the developing world, is currencies last year, is once again trailing particularly exposed to a potentially all global peers to start 2021. stronger US dollar, Andres Jaime, a New Colombian economic activity for February York-based strategist at Morgan Stanley, may reflect a recovery while lingering wrote in a note. below pre-pandemic levels. There’s also concern that US bond yields, The nation’s benchmark equity gauge has which have declined for two straight posted the biggest slide in Latin America weeks, revert back to their trend in the so far this year. first quarter, when Treasuries suff ered Mexico is set to post bi-weekly consumer their worst rout since 1980. price figures on Thursday, which may Goldman Sachs Group Inc said that the show the uptrend continuing in the first bank closed its trade recommendation on The US Treasury Department building in Washington, DC. Emerging-market bulls who’ve benefited from moderating US Treasury yields are bracing for a relapse as two weeks of April, according to Bloomb- a basket of developing-nation currencies political risks also pile up. erg Economics. after the sharp rebound. February retail sales data on Friday, “Some profit taking on rallies and re- In China, the credit stress engulfing one of as well as the Kremlin’s hack attacks and Policy makers last lowered the seven-day loan prime rates on Tuesday. meantime, are expected to fall from a year engagement on market wobbles makes the country’s largest distress-debt manag- actions toward Ukraine. reverse repo rate in February, cutting to a Policy makers last cut the benchmarks in earlier, reflecting the pandemic’s lingering sense, even as we keep the faith on cycli- ers is also weighing on shares and bonds. The rouble has posted the second-biggest record low of 3.5%. April 2020 to support the economy from impact, Bloomberg Economics said. cal upside over the longer term,” Goldman Investors will turn their attention this week decline in emerging markets this past “With the rupiah under pressure, BI’s the pandemic. The peso has advanced 3.5% over the past strategists including Zach Pandl and to key rate decisions. month. desire to maintain external stability means The yuan tops emerging Asia currency month, the third-biggest gain in emerging Kamakshya Trivedi wrote on Friday. “The Indonesia’s central bank may leave Central banks: Indonesian policy makers rate cuts are off the cards,” Krystal Tan, gains this year. markets during that span. idiosyncratic risks that have weighed on borrowing costs unchanged while their are expected to keep their key rate on an economist at Australia & New Zealand Trade data: The Philippines will release South Africa will probably report on Tues- EM FX in 2021 are likely to continue to gen- Russian counterparts hike. hold Tuesday as the weakening rupiah Banking Group Ltd in Singapore, wrote in balance-of-payments data for March today day that headline inflation accelerated in erate volatility and create opportunities.” President Vladimir Putin will also make his deters further easing. a note. after reporting a deficit in February. March amid higher fuel prices. Aside from Russia, political risks are gath- annual address to the nation on Wednes- At a briefing following the March meeting, In Russia, the central bank may extend its The peso has dropped 0.7% this year, beat- The rand has jumped 2.7% this year, beat- ering pace in Latin America and Asia. day, potentially unveiling new measures to Governor Perry Warjiyo said the central new tightening cycle. ing most peers. ing all major global currencies. Peruvian stocks dropped to their lowest boost the economy through spending. bank will guard the currency to keep it in Bloomberg Intelligence predicts a quarter- Taiwan will publish export orders for Malaysia posts March inflation data on since January after an admirer of Fidel Cas- He’s facing condemnation from Western line with its fundamentals. point hike, though US sanctions “raise March tomorrow and industrial-produc- Friday after reporting its first positive tro and Hugo Chavez won the most votes in off icials over the deteriorating health of The rupiah has dropped 3.5% this year, the the risk of a bigger move”. China’s central tion data on Friday. reading for the consumer price index in a the nation’s first-round presidential election. jailed opposition leader Alexey Navalny second-worst decline in emerging Asia. bank will announce one- and five-year South Korea, a barometer of global year in February. Monday, April 19, 2021 GULF TIMES BUSINESS Historic oil glut amassed during the pandemic has almost gone

By Grant Smith and Julian Lee rel, a boon for producers yet an increasing to be in sight. Oil inventories in developed FGE. There have also been declines inside the west coast of South Africa. It’s a popu- prices has prompted the group to keep Bloomberg concern for motorists and governments economies stood just 57mn barrels above the nation’s Strategic Petroleum Reserve, lar location for traders, allowing them the production tight even after reaching its wary of inflation. their 2015-2019 average as of February, the warren of salt caverns used to store oil flexibility to quickly send cargoes to diff er- stockpile target. “Commercial oil inventories across down from a peak of 249mn in July, the for emergency use. ent geographical markets. Mixed blessing: To consuming na- The unprecedented oil inventory glut the OECD are already back down to their IEA estimates. Traders and oil companies were allowed Inventories at the terminal are set to tions the great de-stocking is less of a that amassed during the coronavirus five-year average,” said Ed Morse, head It’s a stark turnaround from a year to temporarily park oversupply there by fall to 24.5mn barrels, the lowest in a year, blessing. Drivers in California are already pandemic is almost gone, underpinning a of commodities research at Citigroup ago, when lockdowns crushed world fuel former President Trump, and in recent according to ship tracking data monitored reckoning with paying almost $4 for a price recovery that’s rescuing producers Inc. “What’s left of the surplus is almost demand by 20% and trading giant Gunvor months have quietly removed about 21mn by Bloomberg. gallon of gasoline, data from the AAA but vexing consumers. entirely concentrated in China, which has Group Ltd fretted that storage space for oil barrels from the location, according to For the 23-nation Opec+ coalition led auto club shows. India, a major importer, Barely a fifth of the surplus that flooded been building a permanent petroleum would soon run out. people familiar with the matter. by Saudi Arabia and Russia, the decline has complained about the financial pain into the storage tanks of developed reserve.” Stockpile slump: In the US, the inven- The oil surplus that gathered on the is a vindication of the bold strategy they of resurgent prices. economies when oil demand crashed last The process isn’t quite complete. A con- tory pile-up has eff ectively cleared already. world’s seas is also diminishing. Ships adopted a year ago. For better or worse, the re-balancing year remained as of February, according siderable overhang appears to remain off Total stockpiles of crude and products were turned into makeshift floating depots The alliance slashed output by 10mn should continue. to the International Energy Agency. Since the coast of China’s Shandong province, subsided in late February to 1.28bn barrels when onshore facilities grew scarce last barrels a day last April – roughly 10% of As demand picks up further, global then, the lingering remnants have been though this may have accumulated to feed – a level seen before coronavirus erupted year, but the volumes have plunged, ac- global supplies – and is now in the process inventories will decline at a rate of 2.2mn whittled away as supplies hoarded at sea new refineries, according to consultants – and continue to hover there, according cording to IHS Markit Ltd. of carefully restoring some of the halted barrels a day in the second half, propelling plunge and a key depot in South Africa is IHS Markit Ltd. to the Energy Information Administration. They’ve tumbled about by 27% in the barrels. Brent crude to $74 a barrel or even higher, depleted. Working off the remainder of the global Last week, stockpiles in the East Coast fell past two weeks to 50.7mn barrels, the low- The Organisation of Petroleum Export- Citigroup predicts. The re-balancing comes as Opec and excess may take some more time, as to their lowest in at least 30 years. est in a year, IHS analysts Yen Ling Song ing Countries has consistently said its “Gasoline sales are ripping in the US,” its allies keep vast swathes of production Opec+ is reviving some halted supplies “We’re starting to see refinery runs pick and Fotios Katsoulas estimate. key objective is to normalise swollen said Morse. “Demand across all products off -line and a tentative economic recovery and new virus outbreaks in India and up in the US, which will be good for po- A particularly vivid symbol is the inventories, though it’s unclear whether will hit record levels in the third quarter, rekindles global fuel demand. It’s propping Brazil threaten demand. tential crude stock draws,” said Mercedes draining of crude storage tanks at the the cartel will open the taps once that’s pushed up by demand for transport fuels international crude prices near $67 a bar- Still, the end of the glut at least appears McKay, a senior analyst at consultants logistically-critical Saldanha Bay hub on achieved. In the past, the lure of high and petrochemical feed-stocks.”

Sustainable-bond issuance reaches ECB debates how to get record high in fi rst quarter back to the economic

Reuters Athey, fi xed income invest- London ment director at Aberdeen Standard Investments. Clients were increasingly ustainable-bond issu- demanding environmental, future after pandemic ance surged to a record social and governance issues Shigh in the fi rst quarter be taken into consideration Bloomberg off er an indication of how fi rmly as more countries and com- by their money managers, and Brussels world demand is recovering as panies looked to tap growing seeking products which at- the pandemic grinds on. Early demand from investors across tempt to infl uence issuer be- April fi gures for South Korea the globe. haviours – and were willing to urope’s late but accelerat- will provide an even more up- Environmental concerns pay for the privilege. ing vaccination push is al- to-date snapshot of the health have risen for many investors “Where clients knowingly Elowing monetary offi cials of global trade, as will Taiwan in recent years as the world sign up to such mandate de- to begin pondering an economic export orders for March. steps up its transition to a low- signs, they are often implicitly future free of the curse of the Japan infl ation numbers are carbon economy, while the permitting portfolio managers coronavirus. still likely to show falling prices Covid-19 pandemic has put a to pay a `greenium’ [green- While European Central Bank ahead of a Bank of Japan meet- renewed focus on health and based premium] for bonds that policymakers will reiterate ex- ing the following week that is set broader social inequality. satisfy the relevant criteria,” isting emergency stimulus set- to show infl ation failing to reach Aiming to use the money for Athey said. tings with a horizon of March 2% during Haruhiko Kuroda’s everything from wind farms to As a result of it often being 2022 when they meet by video stint as governor. vaccination programmes, the cheaper, more issuers were this week, the step-up in im- Indonesia is set to keep inter- bonds are collectively taking looking to engage in green fi - munisations across the region est rates steady at tomorrow’s an ever greater share of total nancing. “Thus the virtuous has emboldened some of them meeting. issuance. “An increasing po- cycle is complete,” Athey said. to start a public discussion on Europe, Middle East, Africa: litical, regulatory and societal “This dynamic is highly likely what might happen when the Initial data on economic activ- focus on sustainability, across to continue playing out over pandemic no longer menaces the ity in April will likely show the developed markets in particu- the coming years and as such euro region. UK’s dominant services industry lar, means that the shift toward we expect signifi cant growth There’s a spectrum of views on has rebounded strongly as larger sustainable assets looks set to in these bond markets.” that outlook. Dutch central bank parts of the economy reopened. power ahead, in our view,” said Financial institutions such Governor Klaas Knot favours ta- The same can’t be said about ac- Wei Li, global chief investment as development banks ac- pering crisis bond purchases as The European Central Bank headquarters in Frankfurt. While the ECB policy makers will reiterate existing tivity in major eurozone econo- strategist at BlackRock Invest- counted for the lion’s share of soon as the third quarter, while emergency stimulus settings with a horizon of March 2022 when they meet by video this week, the mies reeling under renewed re- ment Institute. total green bond issuance in his French colleague, Francois step-up in immunisations across the region has emboldened some of them to start a public discussion on strictions. According to Refi nitiv data, the fi rst quarter, at 41%. Gov- Villeroy de Galhau, cites March what might happen when the pandemic no longer menaces the euro region. UK infl ation, meanwhile, the cumulative borrowing ernments had a share of 21%. as a possible end date. President probably stayed well below the through green bonds, so- The largest issue during the Christine Lagarde reckons mon- “The ECB will no longer have a new pandemic low – to gauge ed with an outlook that appears Bank of England’s target in the cial bonds and sustainabil- quarter was a 8.5bn-euro issue etary support will be needed to fret about rising government whether upside momentum in to improving dramatically by the previous month. ity bonds stood at $264bn in from Italy, which saw demand “well into the recovery.” borrowing costs when it meets on the labour market is holding. Re- week, helped by a recovery in Data on Wednesday will prob- the fi rst quarter of this year, a totalling 80bn euros. ECB offi cials know only too April 22. A full assessment of the ports on manufacturing, servic- commodity prices and a robust ably show that Ghana’s economy record high. Next biggest was France well that weaning fi nancial mar- pace of asset purchases will not es, new and existing homes sales housing market. grew 1.3% in the fourth quarter Green bonds, where the with a 7bn euro issue. kets off emergency stimulus is a happen until June, but the tone of are also due out. Meanwhile, Canadian Prime after the country eased pandem- money targets an environ- The biggest corporate issue fraught task. For now, they have this week’s press conference may Offi cials at the Federal Reserve Minister Justin Trudeau will ic restrictions. In South Africa, mentally friendly project, saw was from Ardagh Metal Pack- the comfort of knowing that off er some hints on the debate to are in blackout ahead of their make a pitch for tens of billions infl ation is forecast to accelerate the highest issuance, $130bn, aging, which raised $2.8bn. they still have time before any come. The hawks are likely to fo- next policy meeting on April in additional spending to sup- to 3.3%, back within the lower followed by social bonds, Over the course of the fi rst winding down of stimulus needs cus on the successful containment 27-28. If the Canadian central port the recovery. bound of central bank’s target at $91.3bn and sustainabil- quarter, 304 green bonds were to begin, and in the meantime of bond yields and the economic bank’s decision on Wednesday Asia: China is signalling it’s range. ity bonds at $43bn, the data issued, up from 212 during the they can look across the Atlantic recovery, while the doves will be proceeds to detail next steps open for business with the re- Latin America: Look for showed. Social bonds look to last three months of 2020, it- for a guide to the pitfalls. more cautious”, says David Powell, to pare bond purchases, such a sumption of its high-profi le Brazil’s economic activity indi- raise money for projects with self a record at the time. The Bank of Canada has al- senior euro-area economist. roadmap would set policy apart Boao forum, where key leaders, cator posted Monday to show a positive social outcomes, such Social bonds totalled 51, up ready hinted that it might be Elsewhere, central bankers in from the neighbouring US, senior government offi cials and second straight decline in Feb- as improving health or provid- from 48; while sustainability one of the fi rst Group of Seven Russia, Israel and Indonesia also where the Fed isn’t expected to business executives will discuss ruary, which refl ects the end of ing aff ordable housing. bonds jumped to 58 from 35. institutions to start paring back hold rate decisions and China attempt a so-called taper until the economy’s outlook in a post- government aid to poor families, Sustainability bonds are a Leading the banking race monetary policy support. At the follows up record-breaking GDP next year. pandemic world. Among likely rising prices and a deadly new mixture of green and social to help issuers come to mar- central bank’s next decision on data with its high-profi le Boao The BoC has been buying a speakers are PBoC’s Governor phase of the pandemic. bonds. ket was US lender JPMorgan, Wednesday, offi cials may an- forum. minimum of C$4bn ($3.2bn) Yi Gang, IMF Managing Direc- Though well short of the crisis Green bonds, and to a lesser which helped raise $9.84bn nounce slower bond purchases, US and Canada: In the US, in government bonds each tor Kristalina Georgieva, Apple’s in Brazil, a new wave of the virus extent sustainability bonds, through green bonds alone, a policy shift that their coun- investors will be watching for the week, accumulating more than Tim Cook, Tesla’s Elon Musk in Colombia likely undercut Feb- were entering a “sweet spot of followed by BNP Paribas with terparts in Frankfurt can only latest reading of weekly jobless C$250bn over the past year. That and BlackRock CEO Larry Fink. ruary’s economic activity index positive feedback” said James $8.67bn and Citi with $7.14bn. dream of for now. claims – after they dropped to pace is likely no longer warrant- Japanese export fi gures will after a -4.6% print in January.

Ooredoo Group continues Qatar’s real winning streak with host estate market of new awards in 2021

From Page 1 From Page 1 a further 16 prestigious international business “We had then anticipated it might At the Global HR awards. approach pre-pandemic levels by H2 Excellence Awards 2021, These included wins at the 2021, but for the recent pandemic sit- won the Mena Digital Awards 2020, uation. award for ‘Innovation in Stevie Awards for Women in With blockade coming to an end and Recruitment’. Business 2020 and the Asia the regional trade activity showing signs The company was also Pacific Enterprise Awards of normalisation, Qatar economy is ex- recognised at the Dream (APEA) 2020, to name a pected to grow rapidly post the pandemic Companies to Work for few. situation.” Awards 2021, where it Sheikh Mohamed Sayantan Pande, associate director picked up the prize in concluded: “Our focus and head (Infrastructure, Financing and the ‘Organisation with remains on investing in Real Estate Valuations) at KPMG Qatar Innovative HR Practices’ our people and delivering said, “Consistent downward pressure on category. innovative digital products rental yields across core real estate as- Ooredoo Myanmar was also and services to our set classes over past few years is due to certified as a ‘Great Place to customers, both consumers growth in supply vis-a-vis demand cou- Work for 2021’ by the Great and businesses. pled with impact of pandemic over last Place to Work Institute. “Across our international four quarters. The company becomes footprint, Ooredoo is acting “Such consistent downward trend re- the very first organisation as a digital enabler, making sulted in holistic eff ort from landlords in in Myanmar to achieve a real difference in the augmenting value proposition by bun- the Great Place to Work communities we serve. dling product with services. certification three years in We will continue to Going forward, it is essential to assess a row. leverage our expertise pain points and challenges while design- In the last quarter of 2020, in mobile technology to ing integrated value-propositions there- Ooredoo also added to its realise positive social and by curating a diff erential off ering for all awards tally picking up economic change.” stakeholders.”