Business 13

THURSDAY 24 JUNE 2021

Ooredoo’s Deputy Group CEO highlights accel- erated digitalisation in telecoms industry A key element of our corporate strategy is digitalisation, aligned with the goals of Qatar National Vision 2030, and we are proud to be contributing to the economic and social development of our country.

Sheikh Mohammed bin Abdullah Al Thani Ooredoo's Deputy Group CEO Business | 14 QSE 10,767.17 -9.32 (0.09%) FTSE 100 7,074.06 −15.96 (0.22%) DOW 33,920.81 −24.77 (0.73%) BRENT $75.20 (+0.39)

Qatar's banking system proved QFZA progressing at steady pace THE PENINSULA — DOHA ability to mitigate risks Minister of State and Chairman of QFZA, H E Ahmad Al Sayed, SACHIN KUMAR I do not think there is a risk Minister of State and Chairman THE PENINSULA of QFZA, participated in a panel of inflation. We have seen discussion at Qatar Economic Governor of Qatar Central Bank fast recovery after COVID- Forum themed “Reenergizing (QCB) H E Sheikh Abdullah bin Globalization”. Saoud Al Thani praised Qatar’s 19 and that has created Chairman Al Sayed outlined banking and financial system, some kind of demand pull. that Qatar Free Zones were noting in this context that the Also some governments established as part of the gov- fixed exchange rate of the ernment’s efforts to attract Qatari riyal against inflation have increased their foreign direct investment (FDI), and its link to oil prices consti- expenditure. diversify the economy and tutes an added value to it. He create a hub for connectivity. noted that the banking system Sheikh Abdullah bin Saoud Qatar Free Zones were set to the world, but we were able to in Qatar has proven its success Al Thani — QCB Governor enable partnerships between We are progressing at a continue our smooth operations and its ability to mitigate risks, foreign investors and local steady pace and have during this period thanks in given the growth of the gross companies, creating an eco- large part to our strategic domestic product. “We believe that $75 (oil price) On the same panel, UBS nomic development platform achieved a lot so far, with the partners such as Thales, Google Speaking during a panel for us is good. We are almost Chairman Axel Weber said that for international investors and growth of many sectors and Microsoft, as well as others, discussion on the third day of now half ways of the year,” he the debate around inflationary their counterparts in the local whose helped us to develop Qatar Economic Forum, said. risks from the extensive private sector. including logistics and technologically advanced eco- Powered by Bloomberg, he said He expected the price of oil stimulus during the pandemic Regarding economic diver- emerging technologies. The systems that could withstand inflation is not here to stay for to be stable until the end of the will complicate talks of a sification in the GCC countries, government has implemented these challenges.” the long term as some pressures year which is very important return to normalization. Fore- which are dependent on hydro- In response to a question might form from supply not for country’s economy. When casts so far are not showing carbons, the Chairman indicated many initiatives under QNV about the G7 announcement meeting demand. asked about having a more any downside risks for that Qatar is doing very well. 2030, and is working on about a potential global cor- “I do not think there is a risk flexible exchange rate, he said inflation in the next three to Since the early 1990s we developing the next phase of porate minimum tax, the Min- of inflation. We have seen fast Qatar’s currency peg to the US four quarters, but a nerv- have been diversifying our ister noted that “the tax exemp- recovery after COVID- 19 and dollar had mitigated risk. “I do ousness is beginning to creep economy through many new Qatar’s diversification plan. tions, while important, are just that has created some kind of not think we will change our into the central banking com- institutions and organizations, one element of the free zone demand pull. Also some gov- regime at the moment.” he said. munity, he said. from Qatar Airways to Qatar offering. Companies come to ernments have increased their “There is no need.” The fear is that the return Foundation to – later on – the government has implemented Qatar Free Zones looking for expenditure,” said H E Sheikh The Governor said, “For the to a full-throttle economy, Supreme Council for Economic many initiatives under QNV advanced regulations, connec- Abdullah bin Saoud Al Thani. past almost a decade we have combined with bottlenecks, will Affairs and Investment, Qatar 2030, and is working on devel- tivity, logistics capabilities, He said economic recovery seen lower interest rate, this is the lead to some inflationary Science & Technology Park, oping the next phase of Qatar’s workforce, and other incen- after the coronavirus crisis only thing we are worried about readings that the world has not Qatar Investment Authority and diversification plan. tives. With regard to those G7 could create inflationary because we have seen some been used to for the last decade finally Qatar Free Zones, under With regard to the impact of discussions, we will have to pressure but said this would be investors have been investing in or so, Weber said. That may Qatar National Vision 2030. the pandemic in Qatar Free wait and see as it is not clear only temporary. a very high yield risky investment make some investors and con- About the current progress Zones, Al Sayed said “we are yet how such a measure would The Governor said that and the borrowers have been very sumers nervous, he added. in QFZA, he said, we are pro- focusing on tomorrow’s world. be implemented or how it Qatar based this year’s budget comfortable for a certain period “I am concerned about gressing at a steady pace and Emerging technologies and big would impact global com- on the price of $40 a barrel for of time at a lower interest rate. So inflation overshooting by more have achieved a lot so far, with data have always been a major panies. Regardless, we continue oil, which is now trading I think this is the thing that we and for longer than is currently the growth of many sectors focus for us, and continued to to work closely with our higher at $75 a barrel and this have to worry about it in the being priced in” by central bank including logistics and be so throughout COVID-19. The investors to help them optimize is good for Qatar’s economy. future,” inflation forecasts, Weber said. emerging technologies. The pandemic had a huge impact on their business environment.” QIA to embed ESG into Qatari Diar exploring new investment its investment process opportunities abroad: Chairman

SACHIN KUMAR LANI ROSE R DIZON of investing. At Qatari Diar, THE PENINSULA THE PENINSULA we are refinancing our facil- ities and taking advantage Mansoor bin Ebrahim Al Qatari Diar is currently exploring new of the low rate. And I think Mahmoud, Chief Executive real estate investment opportunities globally, this is really a time Officer, Qatar Investment abroad as low interest rates in the to go for investment,” added Authority (QIA), said that QIA global market continue to attract Sheikh Khalid. will embed Environmental, investors to take part in what is seen Rob Speyer, President Social, and Governance (ESG) as a post-pandemic real estate boom. and CEO of New York-based in its investment process. The Speaking at a panel discussion on Tishman Speyer, added that QIA will focus on continuing “Real Estate in a Virtual World” during interest rates which have to boost investments in Asia the Qatar Economic Forum yesterday, even gone to zero also cause and the US. Qatari Diar Chairman and Qatargas inflationary pressures. And “We have been investing in CEO Sheikh Khalid bin Khalifa Al while rates may be low for the ESG initiatives and projects Thani said now is the ideal time for the next couple of years, for quite time but this year it real estate investment. they will gently rise to would be a little bit institutionalised in our diversification and a great balance and “Locally, we have not looked at prevent a run-on inflation. process and we will embed ESG into our a mix that would manage our risk. So opportunities because we are focusing “There are extraordinary collaboration and innovation. I think investment process. We will have a policy perhaps when we have our opportu- mainly on Lusail Smart City; but opportunistic things to buy in major demand for the office space will continue we will have a KPI. ESG is getting very nities you might hear us acquire some abroad yes. Working with partners to cities around the world. We’ve been especially for big corporations, tech- important and I think the momentum glo- businesses in the future,” he added. find the best opportunity, we will cap- active in Paris, Washington DC., San nology firms, and also for the professional bally is there,” said Mansoor bin Ebrahim According to QIA chief technology italise on the relationship that we have Francisco and London during the pan- services that rely on a large talent pool. Al Mahmoud during a session on the third is a promising sector. “We have been built over the years. And I think the demic. And people are selling real There’s also demand for more smart and final day of Qatar Economic Forum, deploying and focusing in technology US is a great place for investment. estate at 25 to 35 percent discounts. offices. These offices will remain as a high Powered by Bloomberg. and healthcare. Within the last two Qatari Diar has went through a These are generational buying oppor- flier,” Sheikh Khalid added. “Investors are looking to deploy years we have deployed in technol- restructuring in its organisation and tunities,” said Speyer. He went on to highlight the com- investment and government from other ogies more than ever before. I think investments. And we continue to focus Sheikh Khalid added: “In behalf of pany’s flagship project, the Lusail side are being very receptive and both this sector is a promising especially if on UK and US markets with our Qatari Diar, we look for opportunities Smart City, which also expects to see parties are admitting that we have an you really target a certain sectors partners,” Sheikh Khalid said. in the commercial, offices, retail, res- a huge number of visitors during the issue globally And I think there is a within technology sector,” he said. “Its As of 2020, Qatari Diar has a idential, and hospitality sectors. So if upcoming World Cup next year. momentum and there is a tremendous the year of technologies and a port- shared capital of $8bn, with 50 there’s a right opportunity, we jump “We’re building facilities to cater opportunity in that space,” he said. folio without a huge component of investment projects under devel- on it. I think there are great opportu- to the World Cup 2022, and also mar- Stephen A Schwarzman, Chairman, technology is not really a balanced opment in 22 countries across the nities right now and people just need keting the Lusail City Commercial CEO and Co-founder, Blackstone also portfolio,” he added. world, combining an investment value to take the risk. At Qatari Diar, we will Boulevard. This is a one-of-a-kind participated in the discussion. Mansoor He said that the Pandemic has of around $35bn. invest where we see the right commercial avenue we have built bin Ebrahim Al Mahmoud said that QIA changed the landscape but his phi- According to projections from opportunities”. close to the Lusail Stadium,” said belives in diversification strategy. losophy remains the same “We remain CBRE Group, property values for Globally, people are coming back Sheikh Khalid. “We have been very vocal about as long term investor we remain to apartments, offices, and retail real to offices as they reopen across the Asked about real estate demand Asia and US and we have been very really invest for purposes in very diver- estate will bottom in 2021. Real estate world, but at a slower pace in some after the mega sporting event, he said: vocal that we had little bit of concen- sified way,” he added. “Our philosophy outlook post coronavirus lockdown places. In Qatar, Sheikh Khalid reit- “Great infrastructures have been built tration in Europe and we have been is investing with a purpose and we are show that commercial real estate erated that companies and organisa- in the city, with all the regulations that deployed for the last two years mainly always satisfied when we invest in some values won’t rebound to pre-COVID tions are also reopening according to has been put in place in terms of in Asia and US. It’s going fantastic and thing that it brings positivity to the levels until 2022 or beyond. phases and amid the country’s vacci- attracting tourists to Qatar. And these most of our pipeline is dominated for market that we are investing in and “I think we will enjoy low interest nation programme. will make Qatar the most cost-effective these regions,” he said. which is environmentally friendly,” he rate for a couple of years or more, and “We cannot get away from the choice to host any global event in the “We always believe in added. it’s an opportunity that we see in terms concept of work space, which promotes future,” Sheikh Khalid added. 14 BUSINESS THURSDAY 24 JUNE 2021

Volume of real Ooredoo’s Deputy Group CEO underscores estate trading accelerated digitalisation in telecom industry crosses QR465m QNA — DOHA THE PENINSULA — DOHA thanks to years of careful investment in our networks and in our digital plat- The volume of real estate Ooredoo’s Deputy Group CEO Sheikh forms,” he added. trading in sales contracts regis- Mohammed bin Abdullah Al Thani has Internet-enabled devices have tered by the Real Estate Regis- discussed the transformative impact of helped people cope with the pandemic tration Department at the the COVID-19 pandemic on digitali- and, indeed, the telco leader has seen Ministry of Justice during the sation at a panel discussion as part of concrete evidence of this digitalisation period from June 13 to June 17 the Qatar Economic Forum Powered by of behaviours. Particularly, Ooredoo has Bloomberg yesterday. seen a phenomenal surge in the use of Sales operations were “Digital transformation has long its Ooredoo app and its Ooredoo Money concentrated in the been inevitable, but I would say the app, the latter registering an incredible municipalities of Al Rayyan, major change brought about by the growth in the number of transactions COVID-19 pandemic situation has been made. Doha, Al Daayen, Al Wakra, the significant, transformative change While telco operators around the Umm Salal, Al Khor, Al in mindsets and behaviours among both world, Ooredoo included, have long had the business and consumer sectors of digitalisation as a core element of their Dakhira, and Al Shamal. the telecoms industry,” Sheikh strategy, Sheikh Mohammed told the Mohammed said. panel the challenges of the COVID-19 retaining the brightest talents to support experiences is key to progress and People overwhelmingly digitalised situation had accelerated this digitali- its growth and development plans. development, especially in such fluid reached QR465.597m their behaviours during the height of sation, as perspectives changed and both Drilling down into other challenges times and in challenging circumstances The weekly bulletin issued the pandemic and as the effects sub- businesses and individuals moved their faced by the telecoms industry, Sheikh as we all adapt to rapidly changing by the department said that the sided, Sheikh Mohammed noted. He lives online. Mohammed highlighted Ooredoo landscapes in our industries. A key list of real estate traded for sale cited the utilisation of e-commerce Industry leaders taking part in the Group’s strategic approach to maxim- element of our corporate strategy is dig- included vacant land, housing, rather than traditional avenues for panel also discussed 5G’s contributory ising return on investment, noting the italisation, aligned with the goals of apartment buildings and a accessing goods and services as an role in digital transformation, and the benefits in ensuring smart CapEx, smart Qatar National Vision 2030, and we are tower. example. advantages of leveraging technology to segmentation and the bundling of proud to be contributing to the eco- Sales operations were con- “COVID-19 demonstrated how further accelerate digitalisation, but investments as an innovative solution. nomic and social development of our centrated in the municipalities essential fast connectivity is to enable noted a challenge in sourcing the appro- The panel discussion, moderated by country.” of Al Rayyan, Doha, Al Daayen, opportunities for individuals and busi- priate skillsets to support such renowned Bloomberg columnist and Qatar Economic Forum Powered by Al Wakra, Umm Salal, Al Khor, nesses. What customers really needed digitalisation. opinion writer Alex Webb, was entitled Bloomberg, hosting Qatari and global Al Dakhira, and Al Shamal. from us during the pandemic was fast Sheikh Mohammed agreed Ooredoo Telecom Social Impact: Enabling Oppor- business leaders, heads of states and The volume of real estate and reliable networks, and to easily find, faced the same challenges as its peers, tunity Through Connectivity. policy innovators, took place from June trading, during the period from buy and use our services online. And but reiterated the Group’s strategic com- Sheikh Mohammed said: “I believe 21-23 under the patronage of the Amir June 6 to June 10 had reached Ooredoo was ready for the challenge, mitment to discovering, developing and sharing insights, best practice and H H Sheikh Tamim bin Hamad Al Thani. QR504.794m. Hassad CEO confirms development Warren Buffett resigns from Gates of food security strategy in Qatar Foundation, donates half his fortune

REUTERS — BENGALURU QNA — DOHA The billionaire investor Warren Buffett said he is CEO of Hassad Food Company resigning as a trustee of the Bill and Melinda Gates Engineer Mohammed Al Sada Foundation, and has donated half his wealth to (pictured) yesterday confirmed philanthropy since pledging 15 years ago to give that the company has away his fortune from running Berkshire developed a clear food security Hathaway. strategy for the State of Qatar Buffett, 90, said in a statement yesterday that by working with the main he has been an “inactive trustee” for years at the stakeholders in the government. foundation, but fully supported its Chief Executive He noted that the strategy was Mark Suzman and that their goals were “100 divided into two parts, one of percent in sync.” He also announced a new $4.1bn which is related to developing donation of Berkshire shares to the Gates Foun- Berkshire Hathaway CEO Warren Buffett (right) with food locally, and the other dation and four family charities, part of his 2006 his friend Microsoft co-founder Bill Gates in Omaha, related to developing the pledge to give away about 99 percent of his net Nebraska, in May 2015. process of storing the main percent, which is basically the Al Sada also highlighted the worth. commodities that cannot be way to focus on helping achieve company’s work during hot The future of the Gates Foundation has been grown in the region. food security in the country. summer conditions, pointing uncertain following last month’s announcement by Buffett’s children Howard, Susan and Peter: the During a discussion session Al Sada also noted that the out that technology and R&D that co-founders Bill Gates and Melinda French Howard G. Buffett Foundation, the Sherwood on food security within the company, based on government basically is the answer to that, Gates were divorcing after 27 years of marriage. Foundation and the Novo Foundation. framework of the Qatar Eco- directions, worked to close any as the company uses the latest Founded in 2000, the nonprofit focuses on com- Buffett has assured his children they would nomic Forum, in response to a gaps on the shelfs at the onset technologies in the field. He bating poverty, disease and inequity, spending remain taken care of. “A very rich person should question regarding local of the blockade. He said: “We pointed out that the production $54.8bn in its first two decades. It receives roughly leave his kids enough to do anything, but not products and the main role of started communicating with of cows owned by Baladna four-fifths of Buffett’s annual charitable enough to do nothing,” he told Fortune magazine the Hassad Food Company with more than six or seven coun- exceeds production rates in the donations. in 2006. regard to the quality of tries globally to make sure that region. “Which is an amazing The foundation did not immediately respond Had Buffett not made his donations, his fortune products, Al Sada said that the we stabilise the operation to thing that happens using tech- to a request for comment. Buffett did not mention would roughly equal that of Amazon founder Jeff production includes mainly supply what the market needs, nology, and that helps basically the Gates’ divorce as a reason to resign, while Bezos, the world’s richest person according to dairy products, poultry, meat and we managed to stabilise the to close the gap of the environ- noting he has given up all directorships outside Forbes magazine. and vegetables, and refined market”. mental challenges we have, just Berkshire, reducing his workload. Bill Gates and Buffett also pioneered “The products. The company is He also reiterated that what as the company’s greenhouses Arguably the world’s most famous investor, Giving Pledge,” where more than 200 people like working, regarding its plans to has been achieved in this regard and vertical farming are the Buffett has since 1965 built Berkshire into a more Michael Bloomberg, Larry Ellison, Carl Icahn, Elon expand investments, to define over the past years is a success only way that we can close that than $600bn conglomerate, owning businesses Musk, Mark Zuckerberg and Saudi Prince Alwaleed itself as an investment fund in story for Hassad which made it gap,” he added. such as the BNSF railroad and Geico auto insurance, bin Tall committed at least half their fortunes to foodstuffs and agriculture a very strong partner for the Al Sada also noted that and stocks such as Apple. philanthropy. under the umbrella of the Qatar government in food security Hassad is doing a lot locally “Over many decades I have accumulated an Buffett’s statement also addressed recent crit- Investment Authority, he sector that depends on supply with some local partners, like almost incomprehensible sum simply by doing icism after a ProPublica investigation found that pointed out. Internally, it has chains, and has succeeded in Hamad Bin Khalifa University, what I love to do,” Buffett said. “Society has a use he and other wealthy people paid low taxes rel- developed a local company forming land and sea lines from which is doing a number of for my money: I don’t.” Yesterday’s donations also ative to their fortunes. called Hassad Qatar, which has several countries in addition to research projects to increase go to the Susan Thompson Buffett Foundation, He said his donations have resulted in only an operational rate of 100 airlines that come to Qatar. production and close the gap. named for Buffett’s late first wife, and charities run about 40 cents of tax savings per $1,000 given. Qatar Airways Cargo offers its customers Envirotainer’s Oil producers set to innovative Releye RLP container for pharma transport make record profits THE PENINSULA — DOHA product condition, location, temperature, humidity, battery this year: Report Qatar Airways Cargo has levels, door openings, if their announced the approval of cargo is loaded or not and the Envirotainer’s latest innovation progress of their shipments. BLOOMBERG cycles, when crude rallies – The Releye RLP container. Customised alert notifications prompted companies to spend With the newest addition to its can also be set up, offering full The world’s publicly traded heavily on exploration and pro- range of temperature- visibility to customers for independent oil producers will duction in search of fresh controlled containers, the proactive and reactive make record profits this year, supplies. airline now offers 16 temper- measures. surpassing the levels reached But the forecast raises ature-controlled container Its unique air flow tech- when crude hit an all-time high questions about how disci- leasing options for life science nology provides maximum near $150 a barrel more than a plined producers will remain and health care products to temperature stability in the decade ago, according to about keeping output in check maintain a secure and seamless cargo bay. These containers Rystad Energy. as the surge in crude prices cool chain. It has been already also deliver up to a 90 percent Combined free cash flow drives outsized profits. So far, Qatar Airways Cargo showcases the Envirotainer's latest innovation offering customers Enviro- reduction in CO2 emissions, in from the sector is expected to explorers have largely heeded - The Releye RLP container. tainer’s RAP and RKN active perfect alignment with the air- surge to $348bn, beating the investor pressure to rein in pharma containers since 2014. line’s sustainability goals. previous high of $311bn in spending and return cash to Equipped with intelligent RLP with live monitoring and With the new Releye RLP, Qatar With considerable invest- 2008, Rystad said. Key to the shareholders. While the indus- cargo protection and unsur- intelligent cargo protection to Airways Cargo can offer their ments in quality handling, turnaround is US shale, with try’s revenue is expected to passed autonomy, these con- transport their critical life customers the latest active fully infrastructure, reefer trucks and the industry expected to jump 55 percent in 2021 from tainers provide cost efficiency science and health care ship- connected solution to protect facilities like the airside Climate reverse years of losses in 2021 last year, capital investment and outstanding environmental ments at the required temper- the integrity and quality of air Control Centre at the Doha hub, and make “super profits” of will only increase 2 percent, performance, in line with the ature across our global network. freight medicine products people and procedures at each nearly $60bn of free cash flow Rystad said. carrier’s sustainability goals. Such an innovation is the need throughout the supply chain.” of its over 85 pharma stations, before hedges. All the money sloshing Guillaume Halleux, Chief of the hour, especially in these The Releye RLP sets a new the cargo carrier provides high Surging oil prices will add around may spur more mergers Officer Cargo at Qatar Airways, uncertain times of the standard for secure cold chain operating standards for the to producers’ revenue, but and acquisitions, however, with said: “We are committed to pandemic.” solutions - maintaining the cus- transportation of pharmaceu- profits will be super-charged transaction values already up provide our customers the best Fredrik Linnér, Chief tomers’ pharma cargo longer, ticals and healthcare products by executives determined to 30 percent on last year, the solutions. A seamless cool chain Business Development Officer without the need of recharging globally. The airline is com- constrain capital spending on research firm said. Brent oil is paramount to maintain the at Envirotainer, said: “We are and is enough to cover transit mitted to ensuring the new output, the Oslo-based prices are up 46 percent this efficacy of pharmaceuticals and happy to welcome Qatar times and delays, if any. With enhancement of service quality consultant said in a note year to trade above $75 a we are pleased to offer our cus- Airways Cargo as a carrier of live monitoring, the airline’s and constant innovation of the authored by Espen Erlingsen, barrel, with some traders and tomers a technologically our latest innovation, the Envi- customers will be able to track QR Pharma service for the head of upstream research. executives seeing the possibility advanced container - Releye rotainer Releye RLP container. and monitor the benefit of its customers. This is the opposite of previous of a rally to $100. THURSDAY 24 JUNE 2021 BUSINESS 15

Oil jumps to more QNB named ‘Best Trade Finance Bank in Qatar’ than two-year THE PENINSULA — DOHA efficiency of transacting a remote Letter of Credit remotely through its various delivery service. high on US QNB Group, the largest e- channels for small and Global Trade Review is a financial institution in the medium-sized enterprises, leading news source, publisher inventories Middle East and Africa, was and corporates. and event organizer for the recognized as the “Best Trade QNB’s digital expansion global trade, commodity, REUTERS — LONDON Finance Bank in Qatar” by included the Trade Finance QNB received the award based export, and supply chain Global Trade Review as part of Portal, a uniquely integrated finance industries, with offices Oil rose towards $76 a barrel its GTR Leaders in Trade 2021 e-business solution, that offers on its efforts to enhance its in London, Hong Kong and yesterday, reaching its highest awards. importers and exporters a digital products and services Singapore. since late 2018, after an QNB received the award fully-featured platform to aimed at responding to client QNB Group’s presence industry report on US crude based on its efforts to enhance seamlessly complete their needs and improving through its subsidiaries and inventories reinforced views its digital products and services local and international trade associate companies extends of a tightening market as travel aimed at responding to client transactions, resulting in the connectivity across the Group’s to more than 31 countries picks up in Europe and North needs and improving connec- generation of new businesses footprint during the COVID-19 across three continents pro- America. tivity across the Group’s foot- from across QNB’s interna- pandemic, in line with its goal viding a comprehensive range The American Petroleum print during the COVID-19 pan- tional network and also to become a leading bank in of advanced products and Institute reported that crude demic, in line with its goal to leading the usage of this the Middle East, Africa, and services. stocks fell by a bigger than become a leading bank in the platform to grow by 221 The total number of expected 7.2 million barrels, Middle East, Africa, and percent during 2020. Southeast Asia. employees is 27,000 serving two market sources said. Southeast Asia. The Bank’s other expansion 20 million customers operating Official inventory figures from It also reflects the Bank’s efforts during the year included help customers navigate To supplement the ability to do through 1,000 locations, with the Energy Information achievements to make the launch of specific webinars through the various capabil- business remotely and seam- an ATM network of more than Administration are due at 1430 business easier by driving the and remote video sessions to ities offered by this platform. lessly, QNB also implemented 4,400 machines. GMT. Brent crude rose $1.08, or 1.4 percent, to $75.89 by 1340 GMT, having touched its Qatari Hotels Association highest since October 2018 at $75.91. US West Texas Inter- mediate added $1.14, or 1.6 discusses work strategy percent, to $73.99 and hit $74.07, also the highest since THE PENINSULA — DOHA October 2018. “The uptrend is regaining The Qatari Hotels Association momentum,” said Stephen held an online meeting with the Brennock at oil broker PVM. managers of Qatari hotels affil- “Overnight, the API set a iated with the members of the bullish backdrop.” Brent has association, in the presence of gained more than 45 percent Sheikh Hamad bin Mohammed this year, supported by supply bin Fahd Al Thani, Secretary- Hospitality Company, Wael Jamal, cuts led by the Organization of General of the Association, to Chief Operating Officer - Alfardan the Petroleum Exporting discuss the latest developments Hospitality Company, Ray Countries (OPEC) and as in the hotel sector in Qatar and Mcshane, General Manager Oper- easing coronavirus restrictions to find out the views and aspi- ations - Al Rayan Tourism boost demand. Some oil rations of Qatari hotel managers. Investment Company (ARTIC), industry executives are even The meeting was attended Irfan Sharief, Head of Asset Man- talking of crude returning to Rick Enders, General Manager - agement Katara Hospitality, Satis- $100, a level last reached in Marriott Marquis City Centre, kumar Satananthan, General Officials and members of QHA during virtual meeting 2014. Martin Kendall, General Manager Manager - La Villa (Al Haider “Underlying demand in the - City Center Rotana Doha, Daniel Group), John Lofty, Director of regional and global levels. light of the sharp decline in the sports facilities, luxury malls, physical market means that Van Wyk, General Manager - Catering Sales - Four Seasons During the meeting, the number of flights, and closures, and advanced conference and any corrections lower will DoubleTree by Hilton, Gerrit Graef Hotel Doha, and Sarah Abdallah, Qatari Hotels Association’s work which places more responsi- exhibition centers make it a remain shallow and short,” Multi, General Manager - Regency Deputy General Manager of the plan, strategy, and activities bility on us to search for Real- distinct touristic destination said Jeffrey Halley, analyst at El-Clad Group, Wissam Suleiman, Qatari Businessmen Association during the next phase were pre- istic exits that revive the and enable to further develop brokerage OANDA. General Manager - St. Regis Doha, At the beginning of the sented, as the association seeks sector.” its tourism and hotel industry, OPEC and allies, collec- Karim Tayach, General Manager meeting, Sheikh Hamad bin to hold a series of meetings with For their part, hotel man- which supports the state’s plan tively known as OPEC+, meet - Marsa Malaz Kempinski, Mohammed Fahd Al Thani, Sec- its counterparts regionally and agers exchanged views and for economic diversification. on July 1. They have been dis- Andreas Pfister, General Manager, retary-General of the Association, globally, to discuss prospects ideas on how to revitalize the Emphasizing that the contin- cussing a further unwinding InterContinental Hotel, Wael El- welcomed the participants, and opportunities for joint coop- sector during the period of uation of the vaccination pro- of last year’s record output Telbany, Director of Ezdan Hotels stressing the importance of this eration, and build common per- gradual lifting of restrictions, grams established by the State of cuts from August but no Holding Group, Amena Tena, meeting, which comes within a ceptions to promote and and they agreed to develop Qatar will contribute to reviving decision has been made on Director of Marketing and Com- series of periodic meetings of exchange experiences. proposals and recommenda- of tourism growth during the exact volumes, two OPEC+ munications - Katara Hospitality, hotel managers who are members In this context, QHA Sec- tions to develop the hotel coming period, especially as we sources said on Tuesday. Mohamed Ibrahim Al-Asmakh, of the Association with the aim of retary General opened the door sector after the return of eco- enter the second phase of the Global demand is set to Director - Business Development forming a common platform for for dialogue with the man- nomic activity to its previous gradual lifting of the restrictions rise further in the second half - Katara Hospitality, Wassim exchanging views and unifying agers, saying: “The economic era, especially that the State of which will contribute to the of the year, though OPEC+ Daageh, General Manager - W, the efforts of hotel owners and conditions that the world is Qatar, with its large tourism recovery of the hotel sector in also faces the prospect of Mohamed Sleiman, Chief Oper- those in charge of them in order going through as a result of the potentials such as traditional Qatar in parallel with the increase rising Iranian supply if talks ating Officer - Alfardan Real Estate to enhance The effectiveness and Corona pandemic represent a markets, museums and sand in the movement of individuals with world powers lead to a and Hospitality, Nader Samaan role of the hotel sector in Qatar great challenge for the hotel dunes overlooking the and the gradual return economic revival of Tehran’s 2015 Operations Manager - Alfardan and its affiliated institutions, at the sector and its employees in charming beaches, world-class activities. nuclear deal. Vodafone exclusively launches Msheireb Properties receives 2021 USGBC the Nokia X20 5G smartphone Middle East Leadership Award

THE PENINSULA — DOHA commitment to making the benefits of THE PENINSULA — DOHA 5G accessible to all, while ensuring the Vodafone announced yesterday the Qatar government’s various visionary Msheireb Properties, Qatar’s leading exclusive launch in Qatar of the Nokia initiatives can thrive through digital sustainable property developer, X20 5G smartphone, which customers inclusion, made possible by Nokia received the 2021 USGBC Middle East can enjoy on Vodafone’s powerful smartphones.” Leadership Award from the U.S. Green GigaNet 5G network. The Nokia X20 5G As the company believes in building Building Council (USGBC), appreciating is available now in selected Vodafone a device to last, Nokia has absolute faith the company’s Outstanding stores and e-shop, priced at QR1,199. in the durability of the X20, giving cus- Commitment to Advancing Green Diego Camberos, Chief Operating tomers one year warranty and three Building for its flagship project Office of Vodafone Qatar, said: “We’re years of monthly security updates in Msheireb Downtown Doha, the world’s proud to be able to launch another order to keep user’s phones secure. first sustainable downtown regener- exclusive 5G device for our customers, Moreover, additional highlights include: ation project. this time in partnership with Nokia. The 5G Performance: The Nokia X20 As the only winner for this award X20 5G will run on our GigaNet 5G, featuring a Qualcomm Snapdragon from Qatar, the prestigious award network, which is bigger, faster and 480 5G Mobile Platform CPU enables marks a new milestone achievement stronger than ever before, and will help you to reach powerful 5G speeds. for Msheireb Properties joining an users unlock a whole host of benefits Zeiss Optics makes every movie a impressive slate of awardees that such as faster download times and masterpiece: The Nokia X20 5G, with include organizations, projects and decreased latency. Our partnership with its 64MP quad camera with Zeiss individuals around the world who are Nokia is an example of our commitment Optics and AI assist, lets you shoot cin- using green building and sustainable to building a state-of-the-art commu- ematic quality footage of grand land- practices to improve the quality of life nications infrastructure that serves our scapes, phenomenal close-ups, and for those around them. This year’s country’s digital requirements and leads vibrant portraits. recipients were recognized at the digital innovation in Qatar.” See the bigger picture: The edge-to- USGBC Leadership Awards Ceremony Sanmeet Singh Kochhar, Vice Pres- edge 6.67” Full HD+ screen, with that took place recently during ident for HMD Global MENA & India punch-hole design, means you can get the inaugural USGBC Live virtual added: “We are thrilled to partner with more done on the go and create family event. Vodafone for the launch of the Nokia viewing for a truly immersive “Following a difficult year, it is X20 5G smartphone in Qatar, strength- experience. truly inspiring to recognize our green ening our leadership position as a From today’s dawn to tomorrow’s building leaders that have continued holistic mobile services provider in the dusk: The Nokia X20 has up to two their commitment to green building region. Our long-term strategic part- days battery life, so you can do more and sustainable communities while Msheireb Downtown Doha nership with Vodafone reflects our of what you love, without charging. adapting to the changing environments around us,” said Mahesh Ramanujam, president and CEO, USGBC. “The 2021 and smart services. Msheireb Prop- Building Council for their effort and USGBC Leadership Award awardees erties aims to enrich and enhance peo- are confident that such recognitions have improved our world through the ple’s lives by building the most sus- will inspire more companies to follow power of green building and it is their tainable and smartest city that is an their standards”. contributions and work that have ideal destination for living, leisure, and The 2021 USGBC Leadership Award helped our communities stay safe and business. recipients represent some of the best healthy.” Ali Al Kuwari, Acting CEO Msheireb of USGBC’s 10,000 member organiza- Msheireb Properties, the national Properties, said: “We are proud to tions, a network of committed profes- real estate developer and a subsidiary receive such a prestigious award and sionals with more than 106,000 LEED of Qatar Foundation, developed the be recognized by one of the most commercial projects in more than 180 flagship project Msheireb Downtown prominent sustainability organisations countries and territories around the Doha as one of the smartest and most in the world. It is another milestone in world. The efforts of the awardees stand sustainable city districts in the world. our successful journey, demonstrating out as exceptional examples of sustain- With all Gold or Platinum LEED-cer- our vision to be the leading developer ability leadership among a strong and tified buildings, the district adheres to of sustainable cities in Qatar and the growing network of projects, com- the highest standards in green building region. We thank the U.S. Green panies and individuals.