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Iran Minister Signals Compromise On OPEC MEET | Page 2 $4BN DEAL | Page 3 Iran signals Thai PTT to compromise buy Engie on oil output fi rm Glow Thursday, June 21, 2018 Shawwal 7, 1439 AH DOHA BANK CEO WINS EU AWARD: Page 12 ‘Digital governance GULF TIMES among key enablers BUSINESS of future banking’ Wind and solar technologies said QSE to launch new to push Mena’s electricity mix incentives for local to 50% by 2050 Wind and solar technologies opportunity for the energy will push the Middle East and sector with China seeing 49% North Africa (Mena) region’s and India 29% of total regional electricity mix to 50% by investment. Three-quarters 2050, according to a study. flow to wind and solar “In the Mena, solar and wind which see $2.4tn and $1.8tn will eventually undercut respectively, making up 75% of and global investors cheap domestic gas and investment. oil, and together with new The US electricity system QNA the establishment of standards initiatives and diversifi cation of nuclear plants, push the continues to replace ageing Doha and regulations for family busi- investment instruments, most region’s electricity mix to 50% coal and nuclear with cheaper nesses that represent a real ad- recently the launch of the ETFs. zero-carbon by 2050,” said gas and renewable sources, dition to the national economy. The QSE is working in gen- New Energy Outlook 2018 by assuming there is no federal he Qatar Stock Exchange The new corporate listings is eral to develop services and laws, Bloomberg. policy intervention to prevent (QSE) is poised to launch another element that makes the start a single window mechanism The report said gas is the their retirement. Coal and Tnew investment incen- stock exchange more attractive for listing, develop the licensing dominant fuel all through the nuclear are pushed out by age tives after a series of steps taken for investment. mechanism for intermediaries in outlook and alongside PV and economics, such that by this year aimed at developing its The QSE has already support- co-operation with the Qatar Fi- (photovoltaic) sees the most 2050 both nuclear and coal systems, making it a platform for ed the plans of companies that nancial Markets Authority, and new build capacity. Oil, in have almost disappeared from attracting local and internation- want to be listed; two companies also trying to develop the serv- contrast, plays an increasingly the electricity mix. al investments. are expected to be listed on the ices so that through a single win- marginal role, declining to “We do not anticipate a US These steps have contributed QSE before the end of this year. dow an investor can get the re- just 7% of generation in nuclear renaissance with to the increase in demand of local Earlier this year, Baladna, a quired service within seconds or 2050, from 25% today, it current technology. Batteries and international entities to in- dairy company, announced that delivered through modern tech- added. On a global scale, it grow in significance from vest in the world’s largest emerg- it would be off ering its shares for nological media, as well as seek- said cheap renewable energy around 2030, supporting ing market listed in the global public this year as its activities ing to provide all services online, and batteries fundamentally renewables penetration, which indices in the region, and the sec- expand. al-Mansoori said. reshape the electricity system. reaches 55% in 2050. In that ond largest exchange in the Mid- Qatar Petroleum also an- He stressed that the QSE strives “We move from 2/3 fossil year, emissions are 58% lower dle East in terms of capital. nounced last May that it will to provide the modern tools and fuels in 2017 to 2/3 renewable than they are today,” it said. The latest steps that have be off ering 49% of its shares knowledge necessary to develop energy by 2050,” it said, The report found that Europe been taken in this regard is the in Qatalum for public off er- the investor relations strategies adding for wind and solar shows green energy can reach launch by the QSE of two in- ing, following the directives of of each company to improve and that’s “50-by-50” – with these very high penetration at a low vestment funds for the fi rst time His Highness the Amir Sheikh enable its communication with technologies supplying almost cost. By 2050, renewables in its history, at a time when Tamim bin Hamad al-Thani, to the investment community very 50% of world electricity by make up 87% of the electricity it plans to launch a market for off er Qatari nationals shares in easily and in a timely manner, in 2050, and ending the era of mix, with wind and solar trading shares of small and me- state-sponsored companies that addition to holding conferences fossil fuel dominance in the playing a dominant role. dium enterprises (SMEs) during enjoy safe investment environ- to connect with listed companies power sector. Cheap renewables, flexible the second half of this year. ment and lucrative returns. and support them to achieve fur- Highlighting that Asia demand and batteries On March 4, the QSE an- It is expected that the neces- ther progress in terms of investor Pacific sees almost as much combine to shift the European nounced details of exchange Al-Mansoori: More ETFs in off ing. sary procedures will be taken relations. These meetings aim to investment in power plants power system away from fossil traded funds (ETFs), a group of and approvals for the listing will study new practices in the global as the rest of the world fuels and nuclear to one built securities in an investment fund. (QNA) that the QSE is currently components based on individual be granted during the last quar- fi nancial markets and to identify combined, it said China around variable renewables They are Qatar’s fi rst listed seeking to launch more ETFs weights in the index, which ben- ter of this year. what investors, portfolios, and and India alone are a $4.3tn and emissions-free energy. ETFs on the QSE and the largest as it is one of the most popular efi t the investor. He added that The QE CEO says achieve- individuals are looking for, he in the Gulf. The ETF designed to products among investors, both the other index, Al Rayan Qatar ments in the previous IPOs show added. track the Qatar Exchange Index, domestically and abroad. ETF (QATR), aims to track the in- the readiness of the QSE and its The QSE CEO also stressed which monitors the top 20 listed The State of Qatar, he said, vestment results of the QSE’s Al continued support to compa- that despite the current cir- companies in Qatar by market is one of the most qualifi ed to Rayan Islamic Price Index. nies that are planning IPOs. He cumstances, the status of the Barwa Bank, IBQ in advanced cap and liquidity. achieve high growth rates in the The QSE, in its quest to es- added that the market provides QSE has not changed but has At the end of the same month, region’s ETF sector, considering tablish a market for emerging advanced infrastructure and in- strengthened and become the merger talks, say sources the QSE witnessed the listing of that the nature of these funds SMEs, is working to create an in- novative services that enable in- focus of many foreign investing Al Rayan Qatar ETF (QATR). The suits the thinking of investors in cubator to achieve sustainability vestors to invest their savings in entities, which include the US, Reuters available. The two banks had total European and Asian investment fund tracks the QSE Al Rayan the region. and growth of family businesses, a legal environment that works London assets of 81.7bn riyals ($22.45bn) Islamic Index (Price), which Qatar has a strong and diver- the QSE CEO said, stressing the according to the best interna- groups and local investors. at the end of last year, according consists of Shariah-compliant sifi ed investment climate sup- readiness of the stock exchange tional practices. A large number of foreign to their financial reports. companies listed on the QSE. ported by a package of fi nancial to provide all the facilities avail- The stock exchange, in part- portfolios were registered to Qatari lenders Barwa Bank and Barwa Bank and IBQ were not im- Al Rayan Qatar ETF (QATR) is and regulatory laws that make it able to family businesses. nership with competent au- open trading accounts on the International Bank of Qatar (IBQ) mediately available to comment. one of the largest Islamic funds in the forefront of these markets, The importance of listing pri- thorities, formed a team aimed QSE to start trading on Qatari are in advanced talks to merge Last week Islamic lender Masraf traded in the Middle East and he said, adding that the Qatari vate and family companies on at activating the IPO market stocks, he noted. after discussions for a three-way Al Rayan and conventional emerging countries and the sec- market is qualifi ed to achieve the stock exchange, he added, through holding consultations Al-Mansoori pointed out that merger with another bank did lenders Barwa Bank and IBQ had ond largest Islamic fund in the signifi cant growth rates in this stems from the economic infl u- with market participants and everyone knows that Qatar has a not reach a deal last week, announced that they had ended world. sector, especially after the entry ence of these companies in a large making recommendations and dynamic stock market, the larg- sources told Reuters yesterday.
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