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BUSINESS BBUSINESS | 19 BUSINESS | 20 Lebanon’Sl New Fed Seen Holding Financefin Minister Rates Steady, Ending Wazni Meets Bill Purchases IMF Official by June

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BUSINESS BBUSINESS | 19 BUSINESS | 20 Lebanon’Sl New Fed Seen Holding Financefin Minister Rates Steady, Ending Wazni Meets Bill Purchases IMF Official by June BUSINESS BUSINESSB | 19 BUSINESS | 20 Lebanon’sL new Fed seen holding fifinancen minister rates steady, ending Wazni meets bill purchases IMF official by June SUNDAY 26 JANUARY 2020 BUSINESS BRIEFS QDB’s outstanding loans to SMEs at QR6.7bn Mazaya to study MOHAMMAD SHOEB The short term financing achieve the objectives laid under the possible strategic THE PENINSULA to promote exports in 2019 country’s long-term vision. In terms of providing market access partnership with The total outstanding loans extended by stood at QR507m, while total (through Government Procurement and Al Bandari Qatar Development Bank (QDB) to SMEs financial support through Contracting Conference & Exhibition— reached a whopping QR6.7bn in 2019, Moushtarayat and other initiatives) local DOHA: Mazaya Real Estate Devel- registering a year-on-year growth of insurance policies reached SMEs were able to sign contracts for 3,233 opment has announced its intention nearly 8 percent compared to QR6.2bn at QR562m. job opportunities valued QR 1.22bn. to explore the possibility of merging loans provided in the previous year. QDB, apart from providing local as with Al Bandari Real Estate. “Mazaya The short term financing to promote well as global market access and financial would like to inform its sharehold- exports in 2019 stood at QR507m, while started giving special focus in projects support services, it also offers a lot of ers in particular and public investors total financial support through insurance related to food security in the country, other benefits such as incubation facil- in general that it have received an policies reached at QR562m. resulting in sharp rise in the number of Qatar Development Bank headquarters ities, consultancy, market intelligence, offer from Al Bandari related to the The QDB disclosed that it made SMEs related to the agriculture and food training and skill development pro- merger on January 22, 2020…. remarkable achievements in 2019 in sector, which has been growing steadily 2019, reporting a double-digit growth grammes, meetings, seminars, workshops this offer has been referred to the almost all segments of its services, since then. of 36 percent in its investments com- and exhibitions. Board of Directors for their review including financial assistance to small and In 2019, the number of QDB-sup- pared to previous year. Through its Al In 2019, QDB organized 1,442 bilateral and to take necessary action”, Maz- mid-sized enterprises (SMEs) and pro- ported food security projects witnessed Dhameen programme, the development meetings, 354 consulting services, 25 aya Qatar said in a regulatory filing. viding them access to job opportunities. a remarkable 65 growth (year-on-year), bank provided a loan guarantee of workshops and more than 100 training The Peninsula The state-owned development organ- while the number of industrial projects QR938m in 2019. Al Dhameen is an ini- programmes dedicated to SMEs. Some isation is the main entity responsible for funded by the Bank saw 26 percent tiative related to credit guarantee to 6,600 trainees benefited from QDB’s supporting and promoting local SMEs to growth. The total number of companies promote the growth and development training and development programmes GWC announces establish a vibrant private sector in the receiving the QDB’s financial benefits of SMEs in Qatar. in 2019 with a growth of 88 percent com- establishment of country. This is part of efforts to achieve increased to 951 in 2019, recording a QDB noted that 2019 was full of pared to the previous year. economic diversification in the energy- growth of 5 percent against the previous accomplishments for the organization, QDB has also provided housing loans its subsidiary rich economy in line with Qatar National year, according to key numbers released and it is committed to providing all the to 33, 510 clients, up 3 percent, with the Vision 2030. by QDB on its Twitter handle. needful support to Qatari SMEs, and combined value of its outstanding loans DOHA: Gulf Warehousing Company After the unjust economic blockade The QDB also invested in 27 small, looking forward to providing the best reaching at QR24.3bn, witnessing 6 percent (GWC) has disclosed the estab- imposed on Qatar in early June 2017, QDB medium and emerging companies in services in the coming years aiming to growth compared to previous year. lishment of its subsidiary, GWC Investment, in Qatar. GWC Investments is 100 percent owned by Al-Khaleej Chemicals German media giant Axel Warehousing. The Peninsula Springer quits stock exchange Banks to ask for AFP — BERLIN £4bn tax cuts in post-Brexit German media giant Axel Springer announced on Friday HONG KONG: UK, European and that it would begin delisting American banks plan to ask the from the Frankfurt Stock British government for as much Exchange, following its as £4bn ($5.2bn) annually in tax takeover by American breaks post-Brexit after paying bil- investment firm KKR. lions in extra levies to the Treasury “Axel Springer SE plans to since the financial crisis, The Tel- withdraw from the stock egraph reported. exchange,” the group con- Bank chiefs, who say they have firmed in a statement. received offers from EU countries The withdrawal for their business, hope to convince announcement from Springer, Welt, still media landmarks Chancellor Sajid Javid, the British which has been listed on the despite falling sales, and has newspaper reported, citing an uni- MDax index for the last 35 pushed online with brands like dentified official familiar with the years, comes after KKR bought Politico Europe and Business request. 44.9 percent of the company’s Insider. Friede Springer, widow The banks will request a review of Boeing 777X first flight event shares to become principal of the group’s founder, and chief the bank levy and bank surcharge, shareholder in a deal con- executive Mathias Doepfner according to the report in which the Boeing workers are pictured near a 777X aeroplane during a first flight event, which had to be pictured rescheduled due to weather, at Paine Field in Everett, Washington. cluded last year. ( ) retained their stakes UK Treasury declined to comment. Springer publishes national of 42.6 and 2.8 percent, BLOOMBERG print newspapers Bild and Die respectively. Sentix global aggregate economic index Global economy likely to continue in a Goldilocks scenario for 2020 (diffusion index, -100/+100, 0 = neutral assessment ) What is the sweet spot for global be observed in the sharp changing its monetary policy Phase 1 trade agreement, economic conditions? Like rebound of the Sentix global reaction function, i.e., the respon- receding trade tensions Goldilocks in the old British tale, aggregate economic index from siveness of nominal policy rates between the US and traditional most investors prefer an a position that was negative and to changes in inflation and output. allies (Canada, Mexico, EU, economy that resembles a good deteriorating to one that is pos- Fed officials moved towards a Japan, South Korea), diminished porridge, neither too hot nor too itive and improving. The index new approach that targets risks of a hard Brexit and the cold, but “just right.” In macro tracks investor sentiment about “inflation symmetry” within the moderation of anti-business terms, this translates into an economic activity. Downturn business cycle, i.e., periods of sentiments in the US political ideal scenario of moderate fears suddenly turned into a above target inflation are agenda. Exogenous events are growth with high employment condition that is “just right.” But expected to offset periods of hence unlikely to produce a sig- and low inflation. In other can the sweet spot continue for below target inflation. Previously, nificant downturn over the words, an economy that is hot long? the Fed would only target coming quarters. enough to propel or maintain In our view, the Goldilocks forward-looking inflation expec- Third, China’s economy is earnings growth, but cool scenario is likely to continue tations, ignoring past inflation. now bottoming and the initial enough to keep monetary well into 2020. Four reasons Under the new approach, trade agreement with the US authorities from tightening underpin our position. the Fed will target higher provides more space for policy policy. This is relevant as policy inflation in order to make up for stimulus. While we expect responses to inflation pressures QNB ECONOMIC years of subdued inflation. This Beijing to continue its cautious coming from overheated econ- COMMENTARY is going to raise the bar for future approach, we recognize that the omies have often caused both interest rate hikes. Such an formalization of a deal with the recessions and bear markets. approach will likely be exported US and recent policy actions are Goldilocks is therefore a First, major central banks are from the Fed to other major pointing to stronger accommo- comfortable scenario of per- unlikely to reverse recently central banks. Therefore, tol- dative measures from economic sistent growth prospects with implemented accommodative erance for higher inflation will authorities. In the past, bouts of global financial conditions. current Goldilocks scenario for low downside risks. There is measures. Chances of a signif- increase, effectively extending Chinese monetary and fiscal Reflation forces coming from the global economy will con- little doubt that at some point icant “inflation scare” are slim Goldilocks scenarios. stimulus spilled over to advanced economies and China tinue for longer. The sweet spot in Q3 last year global recession/ due to the persistence of secular Second, global headwinds emerging markets and other are expected to prop up investor of moderate growth, high deflation fears were reversed deflationary forces, including glo- in the form of political and geo- open economies, supporting risk appetite, pushing capital to employment and low inflation by more aggressive monetary balization and the structural gap political risks are subsiding.
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