GULF TIMES QDB Conference Highlights Role of Entrepreneurship
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EU DEADLINE | Page 3 $24.15BN GAIN | Page 5 Italy considers Alibaba breaks only tweaks ‘Singles Day’ to its budget sales record Monday, November 12, 2018 Rabia I 4, 1440 AH OIL PRICE SLUMP HURTS SENTIMENT : Page 16 Saudi stocks hit more GULF TIMES than two-week low as BUSINESS weak oil prices weigh QTerminals scouting for opportunities to expand in Black Sea region: CEO By Santhosh V Perumal started the initial due diligence Business Reporter and we are looking at whether those projects will be viable before we jump in,” he said. QTerminals, the recently-estab- Although QTerminals had initial- lished operator of the first phase ly proposed to go independently, of Hamad Port in Qatar, is scout- it is now in talks with CHEC (after ing for opportunities in the Black signing the MoU) on working Sea region as part of its strategy together, he said. to expand internationally. Opportunities exist either in The terminal operating com- the ongoing operations in the pany, jointly established by developed ports, or may be in Mwani Qatar (51%) and Milaha Greenfield to build the ports, (49%), has already zeroed in two wherein CHEC’s expertise can to three projects and initial due diligence has been undertaken, HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari inaugurates the fourth edition of the ‘Qatar Entrepreneurship Conference’ in the presence of HE the Governor its chief executive Neville Bis- of the Qatar Central Bank Sheikh Abdulla bin Saoud al-Thani and QDB CEO Abdulaziz bin Nasser al-Khalifa. PICTURE: Shaji Kayamkulam sett told reporters here on the sidelines of a function to mark the signing of a memorandum of understanding (MoU) with China Harbour Engineering Company (CHEC). “At the moment we are very carefully looking at opportuni- ties in the Black Sea. We are also QDB conference highlights looking at the sub-continent,” said the off icial of QTerminals, whose container traff ic aver- ages 105,000 to 106,000 TEUs (twenty-foot equivalent units) Bissett: On expansion mode. per month. role of entrepreneurship in The proposed projects are in come in, Bissett said. “We look those countries with extensive forward to high quality oppor- seacoast lines, Bissett said with- tunities wherever in the world. out disclosing further details, QTerminals on its own is making citing confidentiality pact. international foray but we also The Black Sea, which lies look international with CHEC as Qatar’s economic growth between southeastern Europe a partner,” he said. and Asia Minor, is bordered by Highlighting that QTerminals By Peter Alagos The minister said the state of laboration between the diff erent year, this year too was highly rators, mentors, and investors, six countries — Romania and looks forward to working with Business Reporter Qatar “has succeeded during the institutions of the state, on one successful in terms of greater and is now recognised as “the Bulgaria to the West; Ukraine, CHEC in diff erent projects and past years in gradually moving hand, and the constructive part- turnout and the repository of ideal gateway” or starting point Russia and Georgia to the North geographical locations as part of from an oil-based economy to an nership with the private sector, ideas,” al-Khalifa said. of any start-up journey. It is also and East; and Turkey to the international expansion; he said he fourth edition of the economy to which non-oil sec- on the other hand, to enhance QDB executive director of Ad- a platform for aspiring entre- South. The sea has an area of “we will be looking at multiple ‘Qatar Entrepreneurship tors contributed to 52% in 2017.” the contribution of entrepre- visory and Incubation Ibrahim preneurs to understand how to 168,500 square miles (excluding projects, funding, design, con- TConference’, organised “Over the past years, Qatar neurs and the youth to economic al-Mannai said the conference begin their startup journey from the Sea of Azov, a length of 730 struction, operation and manag- yesterday by Qatar Development has been able to demonstrate development and encourage will include activities and events idea to business reality. miles) and a depth of 7,257 feet. ing the entire gamut within the Bank (QDB), highlights the role its ability to achieve economic their own initiatives within an such as 40 workshops for the During the event, the minster More than 16% of the world’s industry.” of the country’s entrepreneur- diversifi cation without relying innovative and creative environ- whole duration of the confer- and Central Bank Governor also container traff ic flows between He said the funding could ship sector in driving economic entirely on the hydrocarbon ca- ment.” ence, as well as the participation witnessed the signing of two Europe and Asia, allowing the be done internally and some growth, HE the Minister of pabilities by placing innovation, Al-Khalifa said QDB wants to of 15 emerging companies. contracts. Al-Khalifa signed a Gulf Co-operation Council ports through banks as well as other Commerce and Industry Ali bin entrepreneurship, and SMEs foster the spirit of entrepreneur- The Qatar Entrepreneurship contract with Steve Robinson, to capitalise on the thriving glo- investment vehicles but the Ahmed al-Kuwari said. at the forefront of its strategic ship among the people of Qatar Conference ‘Rowad Qatar 2018’, general manager, IBM Cloud bal shipping business, a study by thrust should be to identify right Al-Kuwari, who inaugurated priorities,” said al-Kuwari, who and encourage those who want which carries the theme ‘Turn- Labs, IBM Hybrid Cloud, for the A T Kearney said; adding demand opportunities. the three-day conference at the inaugurated the event in the to start their businesses. ing Challenges into Opportuni- launch of the IBM Innovation for international trade coupled QTerminals’ current operations Doha Exhibition and Conven- presence of HE the Governor of “We want them to come and ties’, is held during the Global Hub. with the existing global ports in Hamad Port include a con- tion Centre, said the event is the Qatar Central Bank Sheikh celebrate entrepreneurship, see Entrepreneurship Week (GEW) Al-Khalifa also signed anoth- network is another factor in the tainer terminal with a capacity “an important initiative” and Abdulla bin Saoud al-Thani and other SMEs, connect with the and aims to inspire people and er contract with Carsten Kolbek, Gulf’s marine transport boom. of 2mn TEUs and general cargo, is in line with Qatar’s eff orts to QDB CEO Abdulaziz bin Nasser ecosystem players and to be in- help them explore their poten- CEO of Startup Bootcamp, to “QTerminals, at present, is care- roll-on roll-off and livestock ter- promote the private sector, par- al-Khalifa. spired. This platform also brings tial as self-starters and innova- launch the fi rst SportsTech ac- fully looking at 2-3 projects and minals with a capacity of 1.7mn ticularly the small and medium- He added: “The country has potential startups, collabora- tors. celerator in the Middle East and we are hopeful of coming off in tonnes and 500,000 vehicles sized enterprises (SME) sector, made continuous eff orts to in- tors, mentors, and investors onto QDB said ‘Rowad Qatar 2018’ Africa region with the goal to the next six months. We have annually. “as an important tributary to troduce a series of rules and one platform to share ideas and is the world’s largest gathering become the leading and central sustainable development.” regulations to facilitate col- bring them to reality. Like every of potential startups, collabo- point for sports innovation. Saudi says to Chamber moves ‘Made in Qatar’ cut oil output Fifth Information Security exhibition opening to Dec 3 AFP Private sector leader Qatar Chamber has Abu Dhabi Conference for Financial rescheduled the opening of its ‘Made in Qatar’ 2018 edition in Muscat, Oman, scheduled to be held at the Oman Conven- Saudi Arabia, the world’s top crude tion and Exhibitions Centre, to December 3, exporter, said yesterday it will cut oil Sector to begin on Nov 18 it was announced yesterday. output from next month, as major According to board member and head of producers held a key meeting to discuss the chamber’s Industry Committee, Rashid shoring up sliding prices. QNA structure of any country and the He added this year’s edition will bin Nasser al-Kaabi, the event will witness Saudi Energy Minister Khalid al-Falih Doha need to raise awareness on the dan- include workshops to achieve a the participation of 240 Qatari companies. announced the kingdom was cutting ger of such crimes and fi ght it. comprehensive understanding to The event is organised by the Chamber in its supplies by 500,000 barrels per day Speaking at a press conference for the issues discussed by the confer- co-operation with the Ministry of Energy, from December. But al-Falih said ahead he Fifth Information Security the event yesterday, acting director, ence, as well as give an opportunity Qatar Development Bank, and the Oman of the meeting of Opec and non-Opec Conference for the Financial Banking, Payments and Settlement to participating entities to present Chamber of Commerce and Industry. key producers that there was not yet TSector will take place on No- Systems Department and head of their expertise and experience in the Al-Kaabi said the exhibition will be held consensus on a broader output cut. vember 18 and 19, to shed light on IBAN Committee and Organising fi eld of information security and fi - outside the country for the second time, The meeting of the Joint Ministerial information security, infrastructure Committee at Qatar Central Bank nancial technology to ensure raising and aims to open new platforms for Al-Kaabi: New platforms.