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BUSINESS TUESDAY 1 OCTOBER 2019 19 PAGE | 20 PAGE | 21
QC reviews Alfardan Group developing announces the launch Jordanian labour of The St. Regis Al platform Mouj Muscat Resort
Euro drops to Post-blockade MoCI launches 28-month low much-awaited Single on growth proves Qatar’s concerns remarkable REUTERS Window services NEW YORK resilience: Al Jaida THE PENINSULA The euro fell to its lowest in DOHA two-and-a-half years against the US dollar landscape. Qatari market is The Ministry of Commerce and yesterday as concerns about opening up in a big way. The Industry (MoCI) yesterday euro zone growth weighed country can soon emerge as an launched the first phase of the on the single currency, while alternative hub for doing Single Window services during a the greenback benefited business, he said. ceremony at the Ministry’s head- from seasonal demand and Elaborating on the ‘post- quarters in Lusail City. The much uncertainty arising from the blockade resilient Qatar’, the -awaited facility will offer a US-China trade war. German QFC CEO noted un-hindered unified and integrated electronic annual inflation unex- exports and planned increase in platform for investors to pectedly slowed for the third LNG production capacity will streamline approval and licensing consecutive month in enable positive and stable procedures for the establishment September, data showed current account surplus for the of businesses in Qatar. yesterday. coming years. Speaking on the occasion, “The German CPI print “Qatar’s current account H E Ali bin Ahmed Al Kuwari, Min- this morning was a little bit surplus fell sharply, almost 72 ister of Commerce and Industry, on the disappointing side,” percent year-on-year in 2016 said these services falls in line with said Bipan Rai, North Yousuf Mohamed Al Jaida, Chief due to the sudden drop in oil & H E Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, the leadership’s wise directives to America head of FX strategy Executive Officer, QFC Authority. gas prices and Qatar experienced addressing the ‘Single Window’ launch event. optimise the use of digital tech- at CIBC Capital Markets in PIC: BAHER AMIN/ the first current account deficit nology, enhance the operational Toronto. Germany’s leading THE PENINSUALA in 2016. With stabilization in oil performance of the government The much-awaited The Minister added that the economic institutes have and gas prices, increasing non- and lay the foundations of the Single Window initiative promotes operational also revised down their SATISH KANADY hydrocarbon GDP, the current digital infrastructure necessary to services will offer a efficiency and streamlines the growth forecast for Europe’s THE PENINSULA account surplus has increased by develop the business envi- unified and integrated receipt and validation of docu- biggest economy for this approximately 159 percent year- ronment, positioning Qatar as an ments through one smart elec- year, two sources with With Qatar ticking all the right on-year in 2018 to reach investment hub in the region. electronic platform tronic platform, compared to pre- knowledge of their decision boxes of a strong economy, inter- QR60.6bn. With exports being Minister Al Kuwari noted the for investors to vious procedures, which required told Reuters on Monday. The national investors are showing un-hindered by the on-going the launch of Single Window is streamline approval the intervention of more than 40 revisions, which feed into the their growing confidence in the economic blockade and QP’s the outcome of collaborative and licensing competent departments, thus government’s own output country. More than two years plans to increase Qatar’s LNG effort, cooperation and coordi- minimising approval procedures projections, reflect growing into the unjust blockade, leading production capacity, the coun- nation among the Ministry of procedures for the by government agencies. The concerns that a slowdown in economic indicators in Qatar are try’s current account is estimated Commerce and Industry and a establishment of new electronic platform will Germany driven by a solid, Yousuf Mohamed Al Jaida, to be positive in the coming number of government agencies businesses in Qatar. provide investors with access to recession in the export- Chief Executive Officer, QFC medium term horizon”, he said. and bodies, in order to create a over 18 government agencies dependent manufacturing Authority has said. Despite the on-going unified and integrated electronic under one umbrella, thus inte- sector could hamper the Addressing Doha Bank’s blockade, Qatar has been suc- platform for investors and to services related to the man- grating all incorporation broader euro zone economy. annual event “Qatar-Land of cessful in attracting more than streamline approval and licensing agement of companies and fac- procedures. Demand for dollars heading Opportunities”, Al Jaida said $1.5bn worth of capital procedures for the establishment tories will be added during the The Single Window initiative into the last quarter of the international investors’ confi- investment from more than 22 of businesses in Qatar, which will first quarter of 2020, he said. promotes the principle of infor- year is also boosting the dence in Qatari economy is countries resulting in more than contribute to the promotion of The current phase also fea- mation transparency, enabling greenback. rising with capital investments 60 projects. The economic local and foreign investments and tures the roll out of services users to follow-up and evaluates “In Q4 we tend to see increasing by 72 percent in just blockade has not impacted QIA’s ease the flow of investments into relating to the issuance of com- the performance of various gov- strong seasonal demand for first half of 2019. Qatar’s Sov- continued strategic investments sectors that serve national prior- mercial records, tax registration ernment agencies while providing the US dollar, and given the ereign Wealth Fund QIA is in the US and Europe. In January ities at the development level. and the documentation of incor- integrated and accurate infor- fact that euro/dollar is the forging ahead with its strategic 2019, QIA announced plans to The services offered during poration contracts, providing mation on all licensed companies most frequently traded pair investments in the US and raise investments in the US to the first phase of the initiative investors the opportunity to and Qatar’s investment sector in in the foreign exchange Europe. $45bn in the next two years from include the incorporation of com- benefit from a unified and smart general, helping investors take market, that certainly means The country is heading to around $30bn. In February 2019, panies and factories, which will electronic platform to complete appropriate decisions and encour- that we could be seeing some right directions. Massive policy Qatar announced plans of be rolled out gradually in coming registration and business aging them to establish successful further downside in the euro changes and reforms are hap- investing additional €10bn in weeks while more than 30 licensing procedures. investment projects. going forward,” Rai said. pening in the investment Germany.`P22 Vodafone Qatar’s 5G network to be available across Qatar by 2022
MOHAMMAD SHOEB 5G network that covers key “If you see the performance THE PENINSULA locations across the country of our network and compare including 70 percent of Doha, with our brand’s networks in Vodafone Qatar has demon- and the roll-out continues to other countries, you will expe- strated an unwavering expand. rience the difference and realise commitment to building a Commenting about the com- that we are much more superior world-class infrastructure in pany’s position in the region in to others”, Camberos noted. support of the realisation of the terms of its technology and the On the timeline for country’s long term vision. Since quality of services, Diego Cam- nationwide 5G coverage, he said switching its 5G network just beros, Chief Operating Officer, that Vodafone Qatar took just over a year ago, the company said that Vodafone Qatar is very nearly 3 years to expand its 4G has achieved a new milestone ambitious, which is in line with network across the country, so Sheikh Hamad Abdullah Al Thani (left), CEO, Vodafone Qatar; with Diego Camberos, COO, Vodafone in terms of its 5G network Qatar National Vision 2030. It 5G networks is likely to take Qatar; during the launching of the ‘Unlimited 5G Plans’ at an exclusive event held at the Bin Jelmood coverage, and working aggres- is the first in many things, be it more or less same time despite House, Msheireb Downtown Doha, yesterday. PIC: SALIM MATRAMKOT/THE PENINSULA sively to expand the 5G coverage is related to introducing cutting- the fact it would require more area to almost across the edge technology or in terms of number of towers and other country before Fifa World Cup high speed mobile network related infrastructure for the populated areas of the country scheduled time frame,” he said. provide unlimited data, Qatar 2022. services, it will continue to high speed network. before the 2022 Fifa games. The Vodafone Qatar yesterday unlimited call and unlimited The fast growing telecom achieve new milestones and its “We hope that Vodafone way our technological team is also launched Qatar’s first SMEs which have been designed services provider unveiled yes- quest to serve unrivalled quality Qatar’s 5G network will be working we expect to achieve ‘Unlimited 5G Plans’. Elaborating keeping in view the customers’ terday the extensive reach if its services. available almost all the our target even ahead of our on that he said that the plans will requirement. `P23 20 BUSINESS TUESDAY 1 OCTOBER 2019
MARKETWATCH
QSE FTSE100 DOW CRUDE 10,367.08 7,408.21 26,916.83 $54.30 -28.7 PTS −18.00 PTS +96.58 PTS -1.61 0.28% 0.24% 0.36% Dow & Brent before going to press
ESG investing on the rise: Two-thirds of Mideast SWFs have a top down ESG policy
Qatar Chamber’s First Vice-Chairman Mohamed bin Ahmed bin Towar Al Kuwari (sixth right), during his meeting with a Jordanian THE PENINSULA delegation led by the Jordanian Minister of Labour, Nedal Faisal El Batayneh (centre) at the QC headquarters yesterday. DOHA A major global study by Invesco has found environmental, social and governance (ESG) adoption QC reviews developing rapidly gaining traction among global sovereign investors and Central Banks. The Invesco Global Sovereign Asset Management Study, which surveyed 139 global Jordanian labour platform sovereign investors and Central Bank reserve managers, showed Josette Rizk, Client Director, THE PENINSULA A workshop will made great efforts to implement A workshop will be held in over half (60 percent) of sover- Institutional Sales, Invesco Middle DOHA be held in the near these directives. the near future to inform the eigns now incorporate a East and Africa Invesco future to inform the He also stressed that there is Qatari private sector and busi- top-down ESG policy – up from Qatar Chamber (QC) hosted a a joint coordination between nessmen on the platform and 46 percent in 2017. Middle East equity. This is in contrast to sov- meeting yesterday with the Qatari private sector both parties to facilitate commu- help them reach appropriate sovereigns in particular have ereigns in other regions where visiting Jordanian Minister of and businessmen nication between concerned labourers, he added, saying that accelerated their pace of inte- ESG investing has expanded Labour Nedal Faisal El Batayneh on the platform and bodies and private sector com- there is a potential to link Qatar grating ESG considerations into more towards fixed income and his accompanying dele- help them reach panies with Jordanian youth Chamber with the platform. their investment processes. The asset classes. gation. QC First Vice-Chairman willing to work in Qatar. For his part, Al Kuwari said study found that more than two- Monitoring is also seen as a Mohamed bin Ahmed bin Towar appropriate labourers. “We are considering the that both countries enjoy historic thirds (67 percent) of sovereign big challenge, reflecting the Al Kuwari attended the meeting appointment of labour con- and brotherly relations, noting wealth funds in the Middle East limited resources and nascent along with a number of QC Board sultant at Jordanian embassy in that the private sector witnessed have an ESG policy, up from 30 reporting infrastructure. of Directors, General-Director and his country, noting that the Doha to follow up labourers’ successful partnerships and joint percent in 2017. A major trend highlighted and several businesspersons. aim of his visit is to discuss affairs. We also launched the Jor- ventures. He added that there are The study revealed that by the 2019 study is the shift in Jordan’s Ambassador to enhancing cooperation relations danian Recruitment National many projects being held in there is a broad view among focus toward “E” environment Qatar, Zeid Al Lawzi and and strengthening the strategic Platform, which is developed in Qatar for developing the infra- sovereign wealth funds globally initiatives. Asset owners have, Chairman of Jordan Chamber Of partnership between both coun- accordance with the modern structure, noting that the private that ESG can be integrated into in the past, focused on “G” gov- Commerce Nael Al Kabariti were tries in all fields especially in technological standards to sector has a great role in imple- most asset classes. While ernance factors such as board also present. labour aspect. streamline recruitment opera- menting these projects, which equities have been the initial composition and the ability to The meeting reviewed El Batayneh assured that his tions,” he added. opens the door for recruiting starting point for ESG imple- flag controversies. mechanisms of developing the country has a strong desire to He also said that there is more qualified, and trained mentation, this year’s study Josette Rizk, Client Director, electronic platform for recruiting develop cooperation ties in trade continuing coordination with labourers in all sectors. found of the sovereign wealth Institutional Sales, Invesco Jordanians in Qatar according to and industrial areas, calling the Qatar Chamber with a view to The Qatari private sector is funds in the Middle East that Middle East and Africa, Invesco, the directives of the Amir H H Chamber to hold a business visit learn views and needs of the interested in recruiting Jorda- incorporate ESG at the asset commented: “Over the past two Sheikh Tamim bin Hamad Al with a Qatari businessmen del- Qatari private sector of nians, he noted, adding that class level, 100 percent are now years we have seen an uptick Thani to provide 10,000 jobs for egation to visit Jordan. labourers, affirming that pre- Qatari companies expressed applying ESG considerations among sovereign investors Jordanian youth. He praised the Amir’s direc- vious meeting with the Chamber positive response by giving pri- into their alternative asset port- towards adopting and inte- The Minister stressed the fra- tives to provide jobs for Jorda- have contributed to developing ority to Jordanians to occupy folios including real estate, grating ESG factors into their ternal relations between Qatar nians, affirming that both sides the platform. vacant jobs. infrastructure and private overall investment policies.’’
QIC participates in Doha Women Toyota Land Cruiser’s global sales pass 10 million mark Forum 2019 THE PENINSULA success story with our customers to create concepts on which the Land DOHA over the years. ‘ever-better’ cars,” he added. Cruiser is based. Since its intro- Launched on August 1, 1951, As a well-deserved recog- THE PENINSULA/DOHA Toyota announced yesterday duction over six as the Toyota Jeep BJ, the Land nition for its genuine off-road that the cumulative global sales decades ago, the Cruiser is the company’s longest- capabilities, the Land Cruiser Qatar Insurance Company of its legendary Land Cruiser Land Cruiser has running vehicle. The production has continued to receive the (QIC), the leading insurer series have surpassed 10 million evolved into one of the world-beating vehicle, support of customers around the in the Middle East and units as of August 31, 2019. The of the most fully which assumed its current name world. Even though fewer than North Africa region new milestone comes as a recog- capable in 1954, has continued for 68 100 units were exported per recently participated in the nition for the premium SUV’s premium SUVs, years with nine generations year initially, by 1965, 10 years Doha Women Forum. standing as a global and regional exceeding expec- dominating the Premium SUV after full-scale exports com- Themed “Balance for icon that continues to touch the tations across market across the world. menced, that figure had sur- Better”, the event took lives of millions of people across successive gen- Full-scale exports of the passed 10,000 units per year. place at The Westin Doha the globe every day. erations to Land Cruiser began with the 20 At present, the Land Cruiser is Hotel & Spa. The forum True with its tagline “Pride of Qatar. Yugo Miyamoto, Chief establish itself as series, which was introduced in sold in approximately 170 coun- discussed topics related to the Land”, Land Cruiser occupies Representative for Middle East a favorite among the region’s November 1955, four years after tries and regions worldwide, inclusiveness of women in a special position in the heart of and Central Asia Representative families. The legendary Land the launch of the first-generation with annual global sales every sector, right from every citizen in Qatar as they Office at Toyota Motor Corpo- Cruiser embodies Toyota’s rep- vehicle. Since then, Toyota has standing at approximately politics to sports. The enjoy an emotional relationship ration, said: “We are grateful to utation for reliability, durability, consistently developed versions 400,000 units. forum also touched upon towards Land Cruiser unlike seen each and every one of our cus- and capability, and has become that cater to customer needs, Over the years, the Land promoting gender equality, in other countries, commented R. tomers for their trust and support an integral part of people’s lives while staying true to its repu- Cruiser has carved out a repu- empowering young girls K. Murugan, Acting CEO of in our journey towards achieving in virtually every part of the tation for reliability, durability, tation for itself as a reassuring and women through sports Abdullah Abdulghani & Bros. Co., this important milestone, globe. We remain committed to and drivability on poor roads, companion for business and life- and strategies that can sole agents for Toyota vehicles in cementing it as a remarkable continue working hand-in-hand essentially the development style needs. facilitate gender balance in organisations. Through its partici- pation, Qatar Insurance Alfardan Sports Motors has renewed its com- mitment as a responsible and fair recruiter that complies with global best organises media tour standards and practices. As a firm believer of women THE PENINSULA During the event, Charly Dagher, empowerment, Qatar DOHA General Manager of Alfardan Sports Insurance conducts Motors, introduced the media to an regular due diligence Alfardan Sports Motors, the new authorised exclusive tour around the world-class assessments of the reseller of Alfa Romeo, Fiat, and Abarth in Mopar service centre, allowing them to recruitment practices to Qatar, has organised an exclusive media explore the facility’s latest diagnostic and ensure equal opportunities tour to explore the all-new motor and parts maintenance tools that were specially to women for employment. (Mopar) service centre for the three world- manufactured to support Alfa Romeo, Fiat, A test drive for Alfa Romeo and Fiat which took place at Alfa Romeo Showroom at Globally women are renowned Italian car brands recently. and Abarth vehicles’ superior The Pearl-Qatar yesterday. PIC: BAHER AMIN/THE PENINSULA recognised for their signif- The reputable Qatar-based company engineering. icant role and contribution which recently celebrated its 20th anni- Designed in line with Alfardan Sports at work. QIC too has versary, gave mediapersons an opportunity Motors’ retail concept and customer service receive. Better yet, the Italian brand’s cus- services, especially since we recently cel- empowered many talented to test drive some of the finest models in standards, the state-of-the-art premises tomers will receive a complimentary car ebrated our 20th anniversary. Alfardan Qatari women to Alfa Romeo’s and Fiat’s lineup, including includes a service reception area, a retail wash and valet service. A 150-metre spare- Sports Motors has already won many acco- spearhead various depart- Alfa Romeo Stelvio, Giulia and Giulietta, sales counter, a vast parking area reserved parts warehouse completes the five-star lades for its exemplary sales and aftersales ments within the company. along with the iconic Fiat 500 and Fiat 500 for customers, and a full package of main- amenities of Al Khor’s Mopar service centre. services, which reflects its long-lasting Not only does this facilitate X. The test drive started in Alfardan Sports tenance services. Commenting on the new service commitment to curate exclusive experi- their career progression, Motors’ showroom located in The Pearl From the time customers drive up to centre, Dagher said: “One of our top pri- ences that go beyond clients’ expectations. but it also forms an Qatar’s Medina Centrale area, and ended the 110-metre service reception area to the orities is to offer a world-class, high-quality We are confident that our Alfa Romeo, Fiat, important framework for at the Mopar service centre on the Al Khor moment their car keys are returned, the staff service to all our customers that is in line and Abarth service centre will provide our sharpening human capital. Coastal Road, a mere 20-minute drive from will be there to ensure that they are 100 with Alfardan Sports Motors’ vision and its car owners a peace of mind as soon as downtown Doha. percent satisfied with the treatment they invaluable experience in after sales they walk in”. TUESDAY 1 OCTOBER 2019 BUSINESS 21 Alfardan Group announces the launch of The St. Regis Al Mouj Muscat Resort
Omar Hussain Alfardan, President and CEO, Alfardan Group, Oman government dignitaries and other distinguished guests at the ceremony marking the debut of The St. Regis brand in Oman.
THE PENINSULA Prime Minister for International Relations Group is proud to announce the arrival amenities include marina, parks, renowned brand as The St. Regis, and MUSCAT, OMAN and Cooperation Affairs and Personal of The St. Regis Al Mouj Muscat Resort renowned retail brands, health clubs, proud that Alfardan Group has chosen Representative of H M the Sultan. and branded residences to the heart of courtyards and community clubs. An Al Mouj Muscat as the very first location Ahead of Oman’s 49th National Day, Through its subsidiaries, Alfardan Oman’s capital. We launched the Middle architectural masterpiece, The St. Regis for this prestigious name in Oman.” and in light of the significant strides Group’s portfolio has followed a stra- East’s very first St. Regis property out of Al Mouj Muscat Resort and branded res- Qatar and Oman have strengthened the Sultanate is making under the tegic and ambitious expansion drive in Doha and most recently announced The idences comprises of 271 crafted ties and strategic cooperation in economic wise vision and leadership of H M the region, today counting over 14 hotel, St. Regis Marsa Arabia Island, The Pearl- guestrooms and suites and 170 branded growth sectors. The Qatari and Omani Sultan Qaboos bin Said, Alfardan residential and commercial develop- Qatar. Alfardan Group’s launch of this residences featuring a mix of one-to-four- chambers of commerce and industry have Group announced yesterday the ments in Qatar alone, and a number of legacy destination in Muscat comes at bedroom units and duplexes. been collaborating since 2018, the same debut of The St. Regis brand in Oman, large-scale hospitality and real estate an opportune time, building on Oman’s Alex Kyriakidis, President and Man- year bilateral trade between both coun- at Al Mouj Muscat. projects in the Gulf region and Turkey. unprecedented momentum and aging Director, Middle East & Africa, tries grew by over a 100 percent. In collaboration with Marriott Inter- This master development is its third untapped potential for its tourism and Marriott International, said: “We are In 2017, Qatar and Oman signed a national, Alfardan Group announced the high-profile venture in Oman, following hospitality sectors.” thrilled to be working with Alfardan Group MoU to boost their national tourism addition of its newest luxury destination, Finaa Alfardan and Alfardan Heights, as An extraordinary escape in the heart to bring this significant project to Oman, industries. Since then, the Qatar National The St. Regis Al Mouj Muscat Resort and it solidifies its footprint and diversifies its of the capital’s seaside, Alfardan Group’s especially to this strategic location in one Vision 2030 and the Oman National branded residences, referred to “Alfardan presence in Oman’s booming regional The St. Regis Al Mouj Muscat Resort and of the most desired waterfront master- Vision 2040 have prioritised tourism as Resort”, during an exclusive event in hospitality sector. It also marks the debut branded residences boasts a prime plans in the city of Muscat.” a key pillar and engine of economic Muscat. The launch event was held under of the iconic St. Regis brand in Oman. address along 360 meters of Muscat’s Nasser bin Masoud Al Sheibani, CEO growth. Oman’s 2040 Tourism Strategy the patronage and presence of Sayyid Omar Hussain Alfardan, President beachfront, strategically situated next to of Al Mouj Muscat, said: “We are very is planning over 20bn Omani Riyals of Asaad bin Tariq Al Said, Oman’s Deputy and CEO, Alfardan Group, said: “Alfardan the Al Mouj Golf Course. Its world-class excited to be associated with such a investments into its tourism sector. Doha Bank hosts ‘Qatar — Qatar’s emerging new cities attract Land of opportunities’ event investors THE PENINSULA DOHA LANI ROSE R DIZON THE PENINSULA Doha Bank, one of the largest commercial banks in Qatar, held Investors are showing growing a knowledge sharing session interests in Qatar’s emerging titled “Qatar – Land of oppor- new city centres like Al Rayyan, tunities” at Sheraton Hotel, Al Wakrah, Al Shamal, and Al Doha on Sunday. Daayen. There is a rapid The event was organised movement of developments in under the patronage of Sheikh these suburbs, which signal Fahad bin Mohammad bin Jabor increasing urbanisation now Al Thani, Chairman and Sheikh taking place in various munic- Abdul Rehman bin Mohammad ipalities across Qatar, an official bin Jabor Al Thani, Managing from the Ministry of Munici- Director of Doha Bank. The pality and Environment (MME) to encourage the growing con- Board of directors, several dip- has said. centration of the population in lomats, dignitaries and prom- In light of the Qatar Doha to move into these inent members of the Qatari and National Vision 2030, the MME emerging city centres,” he expat community attended the has adopted a national added. event. framework in 2014, which will Real estate transactions is The main speakers at the guide urban development in also significantly increasing in event included Yousuf Qatar over the next 20 years. these emerging localities. Al Mohamed Al Jaida, CEO of Qatar These plans and policies aim Wakrah, Al Khor, and Al Sheikh Fahad bin Mohammad bin Jabor Al Thani (centre), Chairman of Doha Bank; Sheikh Abdul Financial Centre(QFC) to ensure a high standard of Rayyan enjoyed a healthy Rehman bin Mohammad bin Jabor Al Thani, Managing Director of Doha Bank; Yousuf Mohamed Al Authority; Rashid Ali Al Man- living for the residents, manage amount of interest from soori, CEO of Qatar Stock Jaida, Chief Executive Officer of Qatar Financial Centre, Rashid Al Mansoori, Chief Executive Officer population growth and build a investors, and recorded Exchange (QSE); Nasser Al- of Qatar Stock Exchange, Nasser Al Ansari, Chairman of Just Real Estate; and Dr. R. Seetharaman, sustainable community which QR2.89bn worth of transac- Ansari, Chairman of Just Real CEO of Doha Bank, with other officials during the Doha Bank Annual Investment Conference held at is designed for the well-being tions in July alone. Estate and Dr. Yousef Alhorr, Sheraton Doha Hotel, yesterday. PIC: BAHER AMIN/THE PENINSULA of Qatari people and expatriate “By offering building and Founding Chairman of GORD residents in the country. land plots for multi-use (Gulf Organisation of Research Dr Seetharaman Speaking on the real estate partner in the international “Establishing new cities ini- projects such as offices and and Development). showcased various sector ,Nassar Al Ansari, community for climate change. tiative is part of the Qatar living spaces, these city- The event was kicked off by developments in Qatar Chairman, Just Real Estate It is doing so by seeking to reg- National Master Plan and the projects are positioned to a keynote speech delivered by since the beginning of noted while many people are ulate carbon pricing as a means Municipal Special Devel- create communities that will Dr Seetharaman,CEO of Doha speculating and have doubts in of reducing emissions and opment Plan. There are a contribute to Qatar’s commerce Bank. In his speech, Dr the blockade and how the market, the opportunities driving investments towards number of developments in and residential real estate Seetharaman shared his insights Qatar had managed are getting greater and greater. cleaner options. It is also organ- emerging new city centres, and markets,” Carlo Schembri, on Qatar and global economy. the current situation. Post blockade, the country has izing an environment-friendly they are increasingly growing Exhibition Director of Cityscape He pointed out the growing He stated “Qatar’s taken many measures to tournament and the first to attract investors as well as Qatar previously said. trade tension between the two become more resilient to avoid “carbon neutral” tournament. residents. We cannot have the To facilitate infrastructure largest economies US and overall GDP growth any potential crisis. These Dr Yousef said Qatar Sov- same centre of Doha as the only and road developments in the China, which has contributed to is projected to reach policy changes have demon- ereign Wealth Fund will hub of business,” said country, Ashgal previously said volatility in financial markets. 2.6 percent in 2019. strated a greater appetite for promote and encourage green Mohamed El Alaily (pictured), it will spend more than QR45bn The risk of recession has also foreign ownership, where the investments activities and adopt Senior Specialist for Engi- in the next five years. Some of increased, he said. Qatar’s banking sector Qatari government r has low-carbon economic growth. neering Program/Projects Man- these construction projects Dr Seetharaman showcased remains sound.’’ opened up the market for inter- Furthermore, a contribution of agement at MME, while talking include expressways (QR18bn), various developments in Qatar national companies to own $100m has been pledged to deal to The Peninsula on the side- local roads (QR25bn, and since the beginning of the their offices and real estate. with the impacts of climate lines of an event recently. drainage projects (QR10bn). blockade and how Qatar had Rashid Ali Al-Mansoori, Dr Yousef Alhorr, founding change. He added that aside from El Alaily added that some managed the current situation. CEO of Qatar Stock Exchange chairman of GORD (Gulf Organ- Dr Yousef, also talked about the ongoing infrastructure and of the ongoing construction He stated “Qatar’s overall GDP (QSE) outlined four key points ization of Research and Devel- GSAS (Global Sustainability road developments led by the projects will also feature green growth is projected to reach 2.6 of QSE’s strategic focus. The opment) delivered a ground- Assessment System) which Public Works Authority initiatives. He added: “The percent in 2019. Qatar’s banking bourse will strive to increase breaking presentation on the GORD has developed, based on (Ashgal), there are also com- MME recently allocated sector remains sound. Foreign its offering in the stock market Climate actions and the Carbon extensive research. GSAS is a mercial, industrial, and logistics QR750m for the Doha beauti- liabilities withdrawn in the (more listings etc), enhance markets in Qatar, the opportu- performance-based rating developments planned to be fication project. Qatar is now immediate aftermath of the dip- smarter regulation to make nities and its impacts. Dr Yousef system to assess the sustaina- further developed in the new more conscious about con- lomatic rift have been partially Qatar a more desirable place started by sharing the mission bility merits of buildings and city centres. structing green buildings. All replaced with greater attention for international investment; and agenda of GORD, a non- infrastructure projects taking “There will also be more of these developments are being paid to the diversity of and ensure local asset man- profit subsidiary of Qatari Diar. into consideration the region’s residential developments for aimed towards green cities funding sources and deposit agement industry is more He said that the state of specific environment and eco- locals and expatriates in order and green buildings”. maturity structure.” active, he said. Qatar has become an active logical aspects. 22 BUSINESS TUESDAY 1 OCTOBER 2019 China factory surveys show flickers Post-blockade proves Qatar’s remarkable of improvement as demand picks up resilience: Al Jaida REUTERS Production rose at a quicker FROM PAGE 19 BEIJING pace in September, buoyed by Non-Resident deposits declined the growth in new orders. In par- The QFC CEO noted Qatar’s approximately 28 percent from Factory activity surveys in China ticular, output in the food value of exports surged 25 $62.2bn by the end of first pointed to slight improvement processing, textile, special percent in 2018 on y-o-y, defying quarter of 2017 to $37.7bn by in September as domestic equipment and electrical the blockade. The country’s year end 2017. Since then confi- demand picked up, but analysts machinery sectors stood at high cumulative trade surplus is esti- dence in Qatari economy has believe the gains will be short- levels, Zhao Qinghe, an official mated to touch QR1 trillion by been steadily rising with non- lived as the property market with the statistics bureau said in 2024. resident deposits increasing cools and Sino-US trade tensions a statement accompanying the Qatar successfully defended approximately 29 percent to remain elevated. data. its economy during the post- reach $48.5bn by the end of first Persistent weakness in “With a slew of growth- blockade period. QCB’s interna- quarter of 2019--reaching closer China’s vast manufacturing boosting policy measures tional reserves and foreign cur- to pre- blockade levels. The sector has reinforced market kicking in, optimism among rency liquidity surpassed the pre- banks’ funding composition was expectations that Beijing needs manufacturing firms... reached blockade levels by April 2019. better spread as at 31 March 2019 to roll out more support This file photo shows employees producing coats at a factory for 54.4, the highest in the third Due to the blockade, total official relative to pre-blockade months, measures to cushion the coun- Chinese clothing company Bosideng, in Nantong, in China’s eastern quarter,” said Zhao. reserves had declined from with non-resident deposits rep- try’s worst economic slowdown Jiangsu province. The activity surveys followed $35.1bn in May 2017 to its lowest resenting 16 percent of funding, in decades, even if that risks unexpectedly weak August data levels at $14.1bn in November public sector deposits at 27 racking up more debt. 19-month high of 51.4 in Sep- fourth-quarter view to 5.8 which showed growth in indus- 2017-droppping (60 percent). percent, and private sector The official Purchasing Man- tember, largely due to a rise in percent, slowing from the 6.2 trial production tumbled to its Since then, Qatar has demon- deposits at 32 percent. agers’ Index (PMI) rose to 49.8 domestic orders as government percent reported in the second weakest level in 17-1/2 years, strated immense resilience with Qatar witnessed modest real in September, slightly better than support measures kicked in. But quarter. It cited continued US. while factory deflation the total official reserves rising GDP growth at 1.4 percent year- expected and advancing from economists cautioned the tariff pressure, slowing indus- deepened. Winter smog controls 160 percent by April 2019. The on-year in 2018. Looking ahead, 49.5 in August. But it remained rebound is likely be unsus- trial production and signs that are expected to keep a lid on composition of the reserves has the IMF has projected Qatar’s real below the 50-point mark that tainable, and forecast further property investment and con- heavy industries in some parts been witnessed to be volatile, GDP will grow by 2.8 percent and separates expansion from con- economic weakness ahead. struction may be starting to cool. of the country in coming months. with foreign securities share 3.2 percent in 2020. In the traction on a monthly basis, data “We believe the official man- Total new orders, including “While China’s fiscal stance is falling from 64 percent pre- medium term, the hydrocarbon from the National Bureau of Sta- ufacturing PMI may decline those from home and abroad, unlikely to be loosened during the blockade level to a low of 21 sector is expected to realize a tistics (NBS) showed. again, the growth slowdown did swing back to growth in Sep- remainder of the year, we think percent in April 2018 and better performance due to con- Analysts polled by Reuters could gather pace and (financial) tember for the first time in five the PBOC will find it an increas- increasing back to 51 percent as tinued relative recovery in oil had expected the headline markets could become more vol- months, the official PMI showed, ingly hard sell to refrain from of April 2019. prices as well as production reading would be unchanged. atile in coming months,” econ- but the expansion was marginal. more decisive monetary easing,” Non-Resident deposits have expansion plans by Qatar A private business survey omists at Nomura said in a note. Moreover, export demand Martin Lynge Rasmussen, China steadily increased since 2018 Petroleum (QP), which will also released on Monday showed Nomura recently lowered its remained weak, with orders Economist at Capital Economics reaching $48.5bn as at March solidify the country’s position as growth in factory activity unex- third-quarter growth forecast falling for the 16th straight said in a note, adding the better 2019, indicating increasing con- the largest liquefied natural gas pectedly quickened to a for China to 5.9 percent and its month, albeit at a milder pace. PMIs were likely a false dawn. fidence in Qatari economy. (LNG) exporter in the world.
QATAR STOCK EXCHANGE
QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES EXCHANGE RATE
QE Index 10,367.08 0.28 % 30-09-2019 Index Day’s Close Pt Chg % Chg Year High Year Low Currency Buying (QAR) Selling (QAR) QE Total Return Index 19,076.30 0.28 % Index 10,367.08 US$ 3.6305 3.6500 All Ordinaries 6800.6 -23.5 -0.34 6958.7 5620.3 QE Al Rayan Islamic Index - Price 2,342.75 0.18 % Change 28.7 Pound Sterlig 4.4584 4.5203 QE Al Rayan Islamic Index 3,989.00 0.18 % % 0.28 CAC 40 Index/D 5645.2 4.62 0.08 5696.25 4606.2 Swiss Frnac 3.6367 3.6884 YTD% 0.66 QE All Share Index 3,053.53 0.3 % Japanese yen 0.03343 0.03408 Volume 185,716,657 DJ Indu Averg/D 26820.25 -70.87 -0.26 27398.68 21712.53 QE All Share Banks & Australian Dollar 2.4378 2.4855 Value (QAR) 402,892,408.54 Hang Seng Inde/D 26092.27 137.46 0.53 30280.12 24896.87 Canadian Dollar 2.7251 2.7788 Financial Services 3,988.09 0.35 % Trades 10,184 QE All Share Industrials 3,126.65 0.34 % Up 20 | Down 21 | Unchanged 05 ISEQ Overall/D 6220.39 43.39 0.7 6551.95 5390.58 Indian Rupee 0.0509 0.0519 QE All Share Transportation 2,625.46 1.03 % Pakistan Rupee 0.0229 0.0236 29-09-2019 KSE 100 Inx/D 32078.85 8.04 0.03 #N/A #N/A QE All Share Real Estate 1,460.60 1.21 % Index 10,395.78 Philipine Peso 0.0696 0.0709 QE All Share Insurance 2,973.35 0.1 % Change 24.24 S&P 500 Index/D 0 0 0 3027.98 2443.96 Bangala Takka 0.0427 0.0436 QE All Share Telecoms 925.69 1.6 % % 0.23 Sri lanka Rupee 0.0198 0.0202 GOLD AND SILVER QE All Share Consumer YTD% 0.94 Nepalese Rupee 0.0318 0.0325 Volume 105,825,071 South African Rand 0.2376 0.2424 Goods & Services 8,667.30 0.96 % GOLD QR174.2091 gramme Value (QAR) 193,017,749.05 Euro 3.9498 4.0047 Trades 4,767 SILVER QR2.0145 per gramme TUESDAY 1 OCTOBER 2019 BUSINESS 23 Aluminium markets flash Jobless rate in Eurozone drops, a warning for economy an encouraging BLOOMBERG percent this year, according to sign for growth LONDON Wood Mackenzie. Rival consul- tancy CRU Group expects an even When aluminium demand last worse year, with demand rising REUTERS contracted during the financial just 0.2 percent globally and con- BRUSSELS crisis and unwanted metal tracting 1.2 percent outside of started flooding into ware- China, marking the first decline The unemployment rate in the houses, it took more than a in usage since the financial crisis. eurozone dropped in August to its decade to work through the glut. Macro uncertainties are also lowest in more than 11 years, official Now, the market is bracing for hurting the outlook for pro- data showed yesterday, as services another sharp increase in inven- ducers. Goldman Sachs Group appeared to offset weakening industry, tories as demand growth grinds Inc. last week downgraded an encouraging sign for the region’s to a halt. Alcoa Corp., the biggest growth. Aluminium has tumbled to imbalance could be exacerbated American aluminum producer, The jobless rate in the 19-country a two-and-a-half-year low as by producers who are loath to to neutral from buy. euro zone fell to 7.4 percent, the slowing global growth and the curb output in the short term, To be sure, demand is still European Union statistics agency said, US-China trade war hurt due to the heavy costs involved holding up far better than it did its lowest since May 2008 when the demand for the metal used in in bringing mothballed pro- during the crisis, but traders are euro zone’s economy began to suffer airplanes, automobiles and bev- duction lines back into service. cautioning that there could be from the subprime mortgage crisis in erage cans. While stockpiles “In terms of all the economic swift knock-on effects in the the United States. tracked by the London Metal indicators we’re looking at, eve- physical market as the industry’s The drop from 7.5 percent in July Exchange fell to their lowest rything is pointing to a further previously impressive growth prolonged a decline begun in August since 2007 last week, traders say downturn,” Kamil Wlazly (pic- rates go into reverse. In the past, 2014 when unemployment was at 11.5 inventories are building in the tured), an analyst at Wood Mac- producers have been reluctant to percent. Since then, the rate has fallen physical market as weaker order kenzie, said on the sidelines of the make costly cuts to output in the or has remained stable every month for books leave consumers with Fastmarkets International Alu- face of declining orders and weak five years. It also defied market fore- more metal than they need. minum conference in Athens. prices, exacerbating an imbalance casts that the unemployment rate That leaves traders pre- “Next year could potentially be between demand and supply. remained unchanged from July. paring for a potential rebound even worse because we don’t LME aluminum traded at The euro zone’s economic growth in exchange stockpiles as the think the market has bottomed $1,727.50 a ton as of 12:31 pm in has been slowing, mostly because of weakest demand growth since out yet.” The slowdown in key London. Trading house Concord falling industrial output over global 2009 and tightening spreads sectors such as the European car Resources Ltd. says prices may trade tensions. The unemployment encourage deliveries into ware- industry is putting the aluminum need to fall a further 10 percent reading partly allayed fears the man- houses. As was the case in the industry on course for annual or more before meaningful ufacturing slowdown would spill over financial crisis, the supply demand growth of 1 percent to 2 supply cuts are made. into the larger services sector. Vodafone Qatar’s 5G network to be available across Qatar by 2022
FROM PAGE 19 while in Qatar. On top of unlimited including Qmiles and Valet for the industry.” data, customers can enjoy Parking. To celebrate the launch of their The Company’s three new unlimited local calls and SMS, Diego said: “Vodafone Qatar is new ‘Unlimited 5G plans’, cus- Unlimited 5G plans, available in worry-free data roaming in up to proud to make the exceptional tomers can now take advantage of both consumer and business var- 120 countries and up to 500 inter- freedom of 5G connectivity a special offer and receive a QR50 iants - Unlimited 300, Unlimited national calls, which in the business available to more people, and in discount on Unlimited 300 or 450, and Unlimited VIP - are variant could also be used to more homes and offices, through Business Unlimited 300 and designed to enable both consumer receive roaming calls, at no extra our market-leading plans and Unlimited 450 or Business and business customers to use 5G cost. Exclusive rewards and priv- services for consumers and busi- Unlimited 450 for six months, valid speeds and never run out of data ileges are additional with each plan nesses, which set new standards until December 31, 2019.
CROSSWORD MALL ROYAL PLAZA Dream Girl (2D/Hindi) 2:00 & 6:15pm; Kaappaan (2D/Tamil) 2:00, 8:30 & 11:15pm; Namma Veettu Pillai (2D/Tamil) 2:15 & 11:30pm; Ganagandharvan (2D/Malayalam) 5:00, 8:45 & 11:15pm; Namma Veettu Pillai (2D/Tamil) 2:15 & 11:15pm; Abominable (2D/Animation) 2:00, 5:15 & 7:00pm; Ganagandharvan (2D/Malayalam) 2:30, 5:00, 8:30 & 11:00pm; The Big Trip (2D/Animation) 3:45pm; The Lion King Abominable (2D/Animation) 3:00, 5:00 & 6:45pm 4:15pm; The Informer (2D/Crime) 7:30pm Dream Girl (2D/Hindi) 4:45 & 11:30pm Rambo: Last Blood (2D/Action) 8:30pm; The Informer (2D/Crime) 7:15pm The Rookies (2D/Action) 9:30pm; Prey 9:15pm; Chhichhore (2D/Hindi) 11:30pm Cold Blood Legacy (2D/Action) 7:30pm; Ad Astra (2D/Adventure) 9:15pm LANDMARK Rambo: Last Blood (2D/Action) 9:30pm;
Namma Veettu Pillai (2D/Tamil) 2:15, 8:30 & 11:00pm; ROXY Ganagandharvan (2D/Malayalam) 2:15, 8:30 & 11:00pm; The Big Trip (2D/Animation) 5:00 & 6:45pm; Abominable (2D/Animation) 10:30am, 12:30, 2:30, 4:40, 6:50, 12:30, Rambo: Last Blood (2D/Action) 9:15pm; 2:40, 4:50 & 7:00pm Abominable (2D/Animation) 2:30, 4:45 & 6:30pm Ad Astra (2D/Adventure) 1:50, 8:15, 10:30, 11:30 & 11:40pm The Rookies (2D/Action) 7:15pm; Ganagandharvan (2D/Malayalam) 12:30, 3:20, 6:10 & 9:00pm Porinju Mariam Jose (2D) 11:15pm Kaappaan (2D/Tamil) 10:30am, 1:45 & 5:00pm Little Monsters (2D/Comedy) 11:00am, 12:30, 9:10, 11:00 & 11:10pm Namma Veettu Pillai (2D/Tamil) 12:30, 3:40, 6:50 & 10:00pm AL KHOR Rambo: Last Blood (2D/Action) 4:40, 3:30, 8:20, 9:00 & 11:50pm The Informer (2D/Crime) 11:00am, 1:00, 1:30,12:30, 2:20, 3;00, Namma Veettu Pillai (2D/Tamil) 11:45am, 2:45, 4:00, 5:30, 6:30,6:40, 8:00, 9:10 & 11:10pm 9:00pm & 12:00midnight; Kappan (2D/Tamil) 11:15am Valmiki (2D/Telugu) 10:30am, 5:00 & 10:30pm & 5:45pm; The Informer (2D/Crime) 6:45, 9:15 & 11:45pm; Abominable (2D/Animation) 10:45am, 12:45, 2:45 & 4:45pm; Ganagandharvan (2D/Malayalam) 2:30, 5:30, 8:30 & 11:30 ASIAN TOWN Ganagandharvan (2D/Malayalam) 5:30, 6:30, 8:15, 11:00pm; FLIK Mirqab Mall Kaappaan (2D/Tamil) 9:30pm Namma Veettu Pillai (2D/Tamil) 6:30, 9:15, 9:30 Abominable (2D/Animation) 10:00am, 12:00, 2:00, Dream Girl (2D/Hindi) 4:00pm 4:00, 5:10, 6:00 & 8:00pm Ad Astra (2D/Adventure) 10:25, 11:50, 12:50, 2:15, 3:15, 4:15, 4:40, 7:05, 5:40, 8:05, 9:30, 10:30 & 11:55pm Cold Blood Legacy (2D/Action) 10:00am, 11:10, 1:00, Note: Programme is subject to change without prior notice. 4:50, 7:15, 9:05 & 10:55pm Little Monsters 22:00 & 11:50pm Prey (2D/Horror) 11:00pm & 0:35am Rambo: Last Blood (2D/Action) 10:20am, 11:20, 1:20, 12:20, 2:20, 3:20, 4:20, 6:20, 8:20, 9:20, 10:20; 11:20pm & 0:20am; The Informer (2D/Crime) 10:25am, 12:40, 2:55, 6:40, 8:55 & 11:10pm; The Rookies (2D/Action) 10;15am, 12:30, 4:35 & 8:40pm; The Wedding Year (2D/Comedy) 2:45 & 6:50pm
NAMMA VEETTU PILLAI Namma Veettu Pillai ( transl. The child of our home) is a Tamil-language dramedy film written and directed by Pandiraj and produced by Kalanithi Maran under the banner Sun Pictures.