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Margin Trading THURSDAY, OCTOBER 6, 2016 DOW18,298.33 QE 10,372.20 SENSEX 28,220.98 GOLD 1,269.20 ‘Hard Brexit’ could cost UK financial +129.88 PTS -15.98 PTS -113.57 PTS -0.04% firms $48 billion PAGE 21 PRICE PERCENTAGE PRICE PERCENTAGE 17.82 BRENT 51.77 +1.77% WTI 49.74 +2.06% SILVER +0.25% Qatar signs new deal to supply additional gas to UAE TRIBUNE NEWS NETWORK Dolphin Energy, which rising demand for gas. DOHA is 51 percent owned by Abu KEY DEAL “QP’s support of the flagship Dhabi’s Mubadala Develop- Dolphin Gas Project has been DOLPHIN Energy Limited, ment Company, started deliv- The gas will be supplied instrumental in meeting the gas which supplies gas to the ering gas to the UAE in 2007 through a 48-inch requirements of our brothers in UAE from Qatar through a from Qatar’s North Field, and undersea pipeline the UAE, and this new agree- 48-inch undersea pipeline, on in February 2008, the com- ment is another strong testa- Wednesday signed a new long- pany achieved full throughput The $350 mn pipeline ment to our commitment in this term gas sale and purchase of 2 billion standard cubic feet was installed by Saipem regard,” Kaabi added. agreement (SPA) with Qatar per day. of Italy and was For his part, Sayegh said, Petroleum to deliver addition- The pipeline was installed “These developments help al quantities of gas to the UAE. by Saipem of Italy at a value completed in 2006 support the UAE’s develop- The agreement was signed in excess of $350 million and Dolphin started ment and transition to a low by President and CEO of Qatar was completed in 2006. carbon economy and demon- Petroleum (QP) Saad Sherida Last year, the company up- delivering gas to the strate our continued commit- al Kaabi, and Ahmed Ali al graded its compression facili- UAE in 2007 from ment to enhance energy secu- Sayegh, managing director of ties and installed three new ex- Qatar’s North Field rity for the UAE by offering a Dolphin. port gas compressors at its gas source of reliable, clean energy Prime Minister and Minis- processing plant in Ras Laffan for power generation. ter of Interior HE Sheikh Ab- to match its export gas pipe- Speaking after the agree- He said the success of the dullah bin Nasser bin Khalifa line’s supply capacity of 3.2 bil- ment signing function, Kaabi Dolphin Gas Project is, in part, President and CEO of Qatar Petroleum Saad Sherida al Kaabi (right), and Ahmed Ali al Sayegh (left), al Thani and Dr Sultan Ahmed lion standard cubic feet per day. said, “This agreement rein- driven by its ability to meet managing director of Dolphin, sign the deal in the presence of Prime Minister and Minister of Interior HE Al Jaber, Minister of State and The supply of the addi- forces confidence in Qatar as a the needs of its customers. Sheikh Abdullah bin Nasser bin Khalifa al Thani and Dr Sultan Ahmed Al Jaber, Minister of State and Member of the Council of Min- tional gas quantities under the reliable regional and interna- “As their requirements have Member of the Council of Ministers of the UAE, at an event in Doha on Wednesday. isters of the UAE, who is also new agreement will be allocat- tional supplier of gas as a clean changed, so we have respond- the CEO of Abu Dhabi Na- ed to SEWA and RAKGAS us- energy source.” ed accordingly and worked Earlier, the Prime Minister During the meeting, they erly countries and ways of tional Oil Company (ADNOC), ing the existing UAE Eastern He also stressed QP’s com- closely with our partner, QP, met the UAE delegation on the reviewed the fraternal rela- developing them, especially in witnessed the signing. Gas Distribution Network. mitment to meeting the UAE’s to make this possible.” occasion of their visit to Qatar. tions between the two broth- the fields of energy. QUICK READ QA, Boeing Qatar sets Marine crude OSP for Sept Margin trading: The Group likely to clinch at $42.45 a barrel QATAR has set its September widebody jets retroactive official selling price deal this week (OSP) for its Marine crude draws massive response at $42.45 a barrel, down 55 REUTERS cents a barrel from the previ- DOHA ous month, according to a WHAT DOES MARGIN TRADING MEAN FOR QATARI INVESTORS? nies as it will take long for rest document from state marketer The company will of the firms to take licence QATAR Airways and Boeing Tasweeq seen by Reuters. The begin offering from Qatar Financial Markets will hold a news conference country also set its Septem- Authority (QFMA) for offer- on Friday, a spokeswoman for ber Qatar Land crude OSP at margin trading at ing margin trading, the offi- Qatar Airways told Reuters on $44.25, down 15 cents from the QSE from today cial said. Wednesday, as a big sale of Boe- the previous month. (REUTERS) Enquires have revealed ing widebody jetliners looked that some of the other bro- close to being clinched. SATYENDRA PATHAK kerage firms have also sought Qatar Airways is in the Sada to open GSF DOHA permission from QFMA to of- process of firming up the order, to be held in Doha fer margin trading. which was delayed by the Qatari on October 30-31 THE Group Securities, the Operations manager of government in an effort to speed only brokerage firm in Qatar International Financial Secu- up US approval of its purchase MINISTER of Energy & Industry licensed to execute margin rities said that the company of Boeing fighter jets, sources HE Dr Mohammed bin Saleh trading on the Qatar Stock Ex- will be providing margin trad- familiar with the situation told al Sada would officially open change (QSE) from Thursday, ing facility to its customers Reuters. If the deal is finalised, the forthcoming Gulf Safety has received overwhelming re- within two months. it would give the Chicago-based Forum (GSF) to be held in Doha sponse from both Qatari and “We have done our prepa- planemaker a substantial sales on October 30 & 31, a press non-Qatari investors to open rations and just waiting for boost in a year when orders for release said on Wednesday. The margin trading accounts. necessary approvals from the widebody planes has slumped. forum will take place under the “Many of our existing cus- authorities concerned to offer Last week people familiar Patronage of Prime Minister and tomers especially the Qatari this service to our customers. with the situation said Qatar Air- Minister of Interior HE Sheikh investors have applied for It should not take more than ways was in the process of firm- Abdullah bin Nasser bin Khalifa opening margin trading ac- two months for our customers ing up an order for Boeing jets, al Thani. Representatives will counts so that they can use to avail of this facility from the which it was due to have placed gather from diverse industry this platform from the very company,” the manager said. at July’s Farnborough airshow sectors including oil, gas, petro- first day of its launch,” a sen- According to sources, in Britain. chemicals, aluminium, transport ior official of Group Securi- QNB Financial Services and The deal postponed in July and construction. (TNN) ties’ operations department Commercialbank Investment was a top-up deal for about five told Qatar Tribune. Services are also expected to Boeing 777-300ER worth $1.7 “As The Group Securities offer margin trading soon. billion at list prices, people fa- Oil up 2% to June is the only licensed firm to Meanwhile Doha-based miliar with the talks said, but highs on another offer this service currently, stock market experts have the order could expand as Qatar US crude draw we have also received many expressed hope that the in- Airways continues to target sig- enquiries from investors reg- troduction of margin trading nificant growth despite concerns OIL prices rose about 2 per- istered with other brokerage N the stock market, margin trading refers to the process whereby individual investors buy by QSE will go a long way in over the Gulf economy. Bloomb- cent on Wednesday, hitting companies in Qatar. Many Imore stocks than they can afford to. Regulated margin trading, in which investors borrow boosting liquidity on the local erg last week reported the deal their highest since June, after of them have approached to money from a broker to purchase stocks, has been allowed at the Qatar Stock Exchange (QSE) bourse. was for at least 30 Boeing 777 the fifth unexpected weekly open accounts to start margin from Thursday. Qatar has adopted a 60:40 method wherein a financial services company funds Besides boosting liquid- and 787 jets, valued at about drawdown in US crude inven- trading with us,” the official 40 percent of the securities’ market value purchased for its client pursuant to the agreement ity in the market, an expert $6.7 billion at list prices. tories. Speculation about the said. governing the relation between them. The customers would have to open a new margin trading said, it will provide additional The airline is also in talks Organisation of the Petroleum Since an investor cannot account with the brokerage firm. Investors will be allowed to buy stocks of only those compa- financing channels for inves- for about two dozen Boeing 737 Exporting Countries’ plan to cut have trading accounts with nies which are the constituent of QSE 20 benchmark index through their margin trading ac- tors who are willing to buy MAX jetliners, aviation market production at its meeting next two brokerage companies counts.
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