Qatar Generates Qr200m Surplus in Q1

Business 13

WEDNESDAY 23 JUNE 2021 QFC CEO expects markets to witness strong growth after decline due to COVID-19 The countries that acted and responded to the crisis early, including the State of Qatar, succeeded in overcoming the crisis faster in terms of returning to normal life. Yousuf Mohammed Al Jaida Business | 14 Chief Executive Officer of QFC QSE 10,776.49 +36.36 (0.34%) FTSE 100 7,090.01 +27.72 (0.39%) DOW 33,945.58 +68.61 (0.20%) BRENT $75.02 (-0.01)

Qatar generates QR200m surplus in Q1: Minister SACHIN KUMAR We had an excellent first quarter, THE PENINSULA oil prices moved in the right Minister of Commerce and Industry direction. We had an average and Acting Minister of Finance, H E Ali bin Ahmed Al Kuwari said yesterday year-to-date of $64 a barrel - this that Qatar has generated a surplus of resulted in a surplus of QR0.2bn QR200m in the first quarter of this for the first quarter and this is mix year, helped by rise in oil prices, controlled expenditure, and improved of controlled expenditure and revenues. improved revenue. “We had an excellent quarter, first quarter, oil prices moved in the right direction. We had an average year-to- date of $64 a barrel - this resulted in a its forms and types, and to ensure the talent within the context of economic surplus of QR0.2bn for the first quarter highest level of transparency, gov- diversification efforts, the Minister and this is mix of controlled expend- ernance and compliance. explained that Qatar has focused in the iture and improved revenue. Looking “H H the Amir had made it very past years on developing infrastructure to the remainder of this year, if this sit- clear that the country will run in the and construction, which has attracted uation continues we should be in a highest standard of transparency, gov- a lot of manpower, indicating that eco- good position,” said the Minister in a ernance and compliance and Qatari nomic diversification is based on qual- session during the second day of Qatar institutions enjoy high-level trans- ified and skilled labor in well-known Economic Forum, Powered by parency, governance and compliance sectors. The Minister added that once Bloomberg. and we don’t see any issue with this the FIFA 2022 World Cup ends, there “The only time we might need oil and gas. So we have to one of the said. “When it comes to non objection one and because all orgnisations are will be many projects that serve eco- financing is just to improve our streams we are going to looking at is certificate, the kafala system, exit visa run to the best standards.” nomic diversification in the field of financial position” like refinancing out- VAT and enhance the tax regime in the all these reforms Qatar has announced Regarding reforms, H E the Minister manufacturing, technology, innovation, standing debts more cheaply, said the country.” it and committed to it."“We believe the referred to Qatar’s efforts in regulating food and other sectors, and this is an Minister. About the implementation of Replying to a question about labour LNG is clean energy and is going to be the labor market, as well as the law reg- attractive factor for skilled labor, Value Added Tax (VAT), Qatar has not reforms, the Minister said that there is medium-term energy tool for the world ulating the investment of non-Qatari where many reforms were undertaken picked a date to impose the levy. no chance of going backwards on the so investing in that seems to be very capital in economic activity, which to ensure that. “We are looking at it (VAT) but we reforms. “There is no change in this convenient.” allows foreign ownership of up to 100 He affirmed that the Qatari envi- don’t have a date as of yet but this is position. The government is very The Minister affirmed the keenness percent of the joint capital, pointing out ronment is attractive to workers, as it normal, many countries do reforms, it decisive when it comes to labour of Qatar’s wise leadership, represented that the State also issued a law allowing has the best infrastructure and legis- is very important for us to diversify the market reforms. All the reforms by Amir H H Sheikh Tamim bin Hamad foreign investors to own real estate, and lative systems, and enjoys a strong revenues not to be sole dependent on announced are going as planned,” he Al Thani, to confront corruption in all other reforms in this field. On attracting economy and excellent services. `P14 QP’s LNG expansion evokes huge We started a very long time ago decarbonising LNG and we have currently interest from global companies as we speak we sequestering 2 million tonnes a day of CO2, and with plan for the SACHIN KUMAR equity. So there is great interest. showing an increase of around 64 North Field Expansion, as we have THE PENINSULA I think it is a big part of it is due percent. The first phase of announced in the past, by 2030 we will to carbon sequestration and gas expansion will include expansion Qatar’s Liquefied Natural Gas being part of the solution for the of LNG capacity from 77 mtpa to reach around 9 million tonnes of CO2 that (LNG) expansion project has future,” said the Minister during 110 mtpa by 2025 while the will be sequestered. evoked huge response from a session on the second day of second phase will take LNG global energy companies. The Qatar Economic Forum, capacity to 126 mtpa by 2027. H E Saad Sherida Al Kaabi Minister of State for Energy Powered by Bloomberg. “We started a very long time Minister of State for Energy Affairs, the Affairs, the President and CEO of Patrick Pouyanné, Chairman ago decarbonising LNG and we President and CEO of Qatar Petroleum Qatar Petroleum, H E Saad of the Board and CEO, TotalEn- have currently as we speak we Sherida Al Kaabi said yesterday ergies; Ben van Beurden, CEO, sequestering 2 million tonnees a that Qatar has received double Royal Dutch Shell; Darren day of CO2, and with plan for the the bids it was seeking for the Woods, Chairman and CEO, Exx- North Field Expansion, as we have future for Qatar and the world. project. onMobil Corporation also took announced in the past, by 2030 The new Strategy establishes million tonnes per annum of facilities by more than 75 Royal Dutch Shell PLC, part in the session. we will reach around 9 million a number of targets in alignment CO2 in Qatar. percent. Furthermore, it sets out TotalEnergies SE and Exxon- The country has embarked on tonnes of CO2 that will be seques- with the goals of the Paris The Strategy also acts as a a target to eliminate routine Mobil Corporation are among an ambitious LNG capacity tered,” said the Minister. Agreement, and sets in motion clear direction towards reducing flaring by 2030, and limit the companies that submitted expansion plan. The two-phase Early this year in January, a plan to reduce greenhouse gas the emissions intensity of Qatar’s fugitive methane emissions bids to partner on the project North Field Expansion project will Qatar Petroleum had launched emissions by 2030. It stipulates LNG facilities by 25 percent and along the gas value chain by “Bids are double, what we see Qatar LNG capacity to increase its new Sustainability Strategy, deploying dedicated Carbon of its upstream facilities by at setting a methane intensity requested whether it’s sales and from 77 million tonnes per annum which sets a roadmap for a sus- Capture and Storage (CCS) facil- least 15 percent, and reducing target of 0.2 percent across all purchase agreements (SPA) or (mtpa) to 126 mtpa by 2027, tainable and more prosperous ities to capture more than 7 flare intensity across upstream facilities by 2025. Qatar aims to beat World Bank’s forecast: IPA Qatar CEO

to diversify our economy from part. Qatar very recently emerging startups and a lot of hydrocarbons, while also adjusted its legislation. The companies that look to Qatar to building up adjacent industries,” country has opened up com- scale up and expand in the Sheikh Ali said. pletely all sectors for foreign region in this particular sector. According to the World direct investment, and We also have cyber security, Bank, Qatar’s real GDP growth developed even new platforms especially with the upcoming for 2021 is expected to be 3 to service and to register World Cup, there are a lot of percent, with the same rate of licensed investors such as the opportunities around cyber growth for both oil and non-oil Qatar Free Zones Authority security. Also, sportstech and GDP,driven by domestic and (QFZA),” Sheikh Ali said. media as well. We’re very much foreign demand as vaccinations He added that the Qatari gov- agnostic in terms of how we H E Sheikh Ali Alwaleed Al Thani, Chief Executive Officer of the Investment Promotion Agency Qatar roll out, and with the end of the ernment plans to expand upon welcome investors and are open (IPA Qatar), participating during a session on “Investing Across Borders” at the Qatar Economic Forum diplomatic rift in the region. all the infrastructure investments to them. Qatar is a liberal Powered by Bloomberg, yesterday. Strengthening energy prices that it has already undertaken. economy, so we prioritise our LANI ROSE R DIZON and final preparations for the “We look to build that for the sectors based on overall THE PENINSULA of the Investment Promotion pandemic. It may be noted that FIFA World Cup 2022, as well future. As the World Cup projects emerging trends and themes. Agency Qatar (IPA Qatar) said about 40 percent decrease was as expected bumper tourist are gearing up to completion, we Here is where we see the oppor- during a session on “Investing expected in global FDI last year, receipts from what could be the look to expand upon all the infra- tunity,” Sheikh Ali added. Qatar which has been intensi- Across Borders” at the Qatar based on market estimates. world’s first post-COVID mass structure investments that we’ve Asked on whether the fying its economic diversifi- Economic Forum Powered by “In Qatar, we beat that audience sporting event, should made and to develop adjacent country would now be more cation efforts aims to beat the Bloomberg yesterday. benchmark. In the last quarter also lead to 4.1 percent growth opportunities around these welcoming to cryptocurrencies, World Bank’s forecast of 3 Speaking during the event, of 2020, we had a positive in 2022. assets,” said Sheikh Ali. which are increasingly growing percent GDP growth this year Sheikh Ali said the country has inflow of around $500m. The “We aim to beat that, espe- He added that Qatar also to be an accepted investment and 4.1 percent growth next already set a benchmark in reform agenda of Qatar’s eco- cially in the heart of our diver- looks towards emerging trends in other parts of the world, he year, H E Sheikh Ali Alwaleed foreign direct investments (FDI) nomic diversification is at the sification efforts. And foreign in terms of digitally dominant said cryptocurrencies are cur- Al Thani, Chief Executive Officer despite the COVID-19 centre of that. We look at ways direct investments play a large experiences. “There are many rently on Qatar’s radar. `P14 14 BUSINESS WEDNESDAY 23 JUNE 2021 QFC CEO expects markets to witness strong growth after period of decline

QNA — DOHA make Qatar the largest LNG exporter by about 126 million Chief Executive Officer of Qatar tonnes annually. He said that Financial Centre Yousuf these plans will put the economy Mohammed Al Jaida (pictured) back on track and will establish expects the markets to witness it on solid ground, looking a strong growth after the decline Minister of Commerce and Industry and Acting Minister of Finance, H E Ali bin Ahmed Al Kuwari (right), during due to the COVID-19 pandemic. a meeting via video conference with Minister of Energy of the Islamic Republic of Iran, H E Reza Ardakanian. Al Jaida participated in a session on the investment in traditional markets compared to emerging Qatar, Iran review trade relations markets, held within the activ- He said that the State of ities of Qatar Economic Forum, Qatar has pumped QR75bn into THE PENINSULA — DOHA well as ways to enhance and develop them. Offi- Powered by Bloomberg. The the economy to alleviate the cials also discussed trade policies between the session brought together experts, crisis, in addition to billions of Minister of Commerce and Industry and Acting two countries and the efforts exerted by both officials and specialists in the riyals that have been pumped Minister of Finance, H E Ali bin Ahmed Al Kuwari, sides to confront the COVID-19 pandemic. financial and investment sector. into the financial system and the met with H E Reza Ardakanian, Minister of Energy During the meeting, the Minister of Com- Al Jaida noted that the whole stock market, and loans of bil- of the Islamic Republic of Iran, via video confer- merce and Industry and Acting Minister of world, and the Middle East in lions that have been granted to encing. Finance highlighted the economic policies that particular, experienced very dif- small and medium-sized com- During the meeting, officials reviewed the Qatar had adopted and its contribution to abol- ficult times during the corona- panies. All these steps helped get bilateral relations between Qatar and Iran and ishing restrictions on foreign investment and cre- virus pandemic, especially the the economy back on track. discussed aspects of joint cooperation, especially ating more investment opportunities for com- measures imposed to confront Al Jaida noted that that the in the trade, investment and industrial fields, as panies looking to invest in Qatar. the outbreak of the disease, State of Qatar was able to vac- including closures and travel cinate about 65 percent of the restrictions. population, hoping that things He added that the countries will return to normal in Qatar forward to achieving positive QC panel discusses forming teams that acted and responded to the and that all restrictions will be GDP growth in 2022, compared crisis early, including the State lifted by September. to 2020. of Qatar, succeeded in over- With the plans in place, the In conclusion, Al Jaida specialised in insurance coming the crisis faster in terms 2022 World Cup which Qatar emphasised that creating more of returning to normal life. will host next year will be the job opportunities, attracting THE PENINSULA — DOHA reviewing, following up and acti- On the economic recovery first fully vaccinated tournament foreign direct investment, and vating laws and legislations that after the COVID-19 pandemic, of its kind, he continued, hoping continuing government Qatar Chamber’s Insurance aim to develop the private sector Al Jaida indicated that the State that it will be done on time, and spending in the local economy Committee recently held a in the field of insurance and of Qatar and some other coun- believed that by this time the will help the State of Qatar to be meeting to discuss a number of making appropriate recommen- tries in the Middle East will be economy will most likely have a preferred destination com- proposals submitted by its dations in this regard. able to get out of this crisis faster begun to return to normal, in the pared to other countries in the members to improve the It also is specialised in than other countries, thanks to fourth quarter of 2022. region, stressing that there is business environment in this studying obstacles facing the the financial policies it followed On the other hand, Al Jaida great competition with regard vital sector. The meeting was insurance sector and finding during the crisis, in addition to pointed to plans to expand the to attracting foreign direct presided over by QC Chairman appropriate solutions, holding the rapid pace of vaccination. production of natural gas, to investment. and Chairperson of the establishment of a number of events to revitalise and activate Insurance Committee, Sheikh specialised teams related to the the areas of the insurance sector Khalifa bin Jassim Al Thani insurance sector, in order to in the country, as well as partic- Qatar generates QR200m surplus in Q1: Minister (pictured) in the presence of the provide specialised technical ipating in local and international committee’s members. studies, and work on presenting meetings, seminars, and FROM PAGE 13 The meeting reviewed studied proposals to support conferences. the tourism sector, advanced industries, infra- mechanisms for developing the decision-makers. Furthermore, the committee structure, and the development of agriculture committee’s work and The QC’s Insurance Com- also studies requirements of the He added that the State of Qatar has taken and technology, noting that it has signed many expanding the participation of mittee competencies include fol- labor market in the insurance many steps to achieve these goals, including memoranda of understanding with other experts, and specialists from the lowing up the implementation field, collects, monitors, and establishing the Investment Promotion Agency investment promotion agencies. insurance companies from of the strategic plans prepared examines phenomena and of Qatar (IPA Qatar), reforming the public pro- On attracting talent within the context of eco- which the committee formed. by the state regarding the private developments of the insurance curement framework, enacting a new law to nomic diversification efforts, the Minister It also discussed the sector in the field of insurance, sector. stimulate foreign investment, and amending the explained that Qatar has focused in the past years system of free zones, noting that IPA Qatar aims on developing infrastructure and construction, to strengthen the government’s efforts in encour- which has attracted a lot of manpower, indicating aging foreign investment in the State of Qatar. that economic diversification is based on qual- Qatar aims to beat World Bank’s GDP He added that the agency seeks to focus on ified and skilled labor in well-known sectors. growth forecast, says IPA Qatar CEO Nokia to allow employees to work FROM PAGE 13 remotely for three days a week We look towards emerging technologies. In terms “As I’ve mentioned, we very much look toward emerging technologies, that underpins cryptocur- of blockchain and fintech, Qatar has done a lot. We REUTERS — STOCKHOLM organisations to change. Tech- rency. So in terms of blockchain and fintech, Qatar see the Qatar Financial Centre adopt a series of nology gave people the tools to has done a lot. We see the Qatar Financial Centre regulations that help grow fintech in Qatar. We Nokia said its employees can innovate. In many cases, the (QFC) adopt a series of regulations that help grow choose to work up to three days results have been too good to go fintech in Qatar. We look towards developing look towards developing opportunities on that. On a week remotely with increased back to the old way of doing workspaces. opportunities on that. In terms of cryptocurrency, cryptocurrency, we see it as a globally emerging support for flexible working things,” Chief Executive Pekka Offices in Dallas, Singapore we see it as a globally emerging trend, and Qatar trend, and Qatar has yet to take part in that. But hours from January after its Lundmark said. and Budapest have already been has yet to take part in that. But that is very much current work from home policy The company, which had reconfigured, with further sites on the radar,” he added. that is very much on the radar. comes to an end in December. about 92,000 employees in 130 expected to be completed by the Sheikh Ali went on to highlight Qatar’s new The Finnish telecom countries at the end of 2020, said end of the year as Nokia follows public-private partnership (PPP) law, and stressed Sheikh Ali Alwaleed Al Thani equipment maker conducted a in March it plans to cut up to companies worldwide in opting the value of PPP investments in the Qatari survey of its employees at the 10,000 jobs within two years to for more hybrid working in the economy. end of last year and a majority trim costs and invest more in wake of the pandemic. “We believe that public-private partnerships said they wanted to work two to research capabilities. Carmaker Renault and Stel- are essential, especially in an economy like Qatar. looking to expand this program across different three days per week remotely, Nokia plans to redesign lantis, the maker of Peugeot and And the PPP program is structured mainly around sectors, and we believe this is a lucrative oppor- up from an average of two days offices to allocate up to 70 Citroen cars, has made agree- infrastructure projects like public schools and tunity and an anchor for investors to base out and before the coronavirus percent of the space in some sites ments with workers to allow water sewage treatment. We find this opportunity expand their operations in Qatar and scale up and pandemic. to teamwork and meetings, with employees to work from home to anchor foreign investment in Qatar. We are now expand in the region as well,” Sheikh Ali added. “The pandemic forced less area reserved for for up to three days a week. Gas Exporting Countries Forum explores consensus on methane emissions

THE PENINSULA — DOHA firm’s Methane Watch initiative, which is the only monitoring platform in the world to measure the It exists in abundance on Earth and has even been methane footprint of companies, regions and found on other planets, including Mars, but this countries on a global scale. The Methane Watch major force of life – methane – can also harm of Kayrros, an advanced data analytics provider, the environment when not contained appropri- uses satellite imagery and advanced algorithms ately. to generate real-time atmospheric This was the subject of a workshop recently measurements. organised by the Gas Exporting Countries Forum “We think satellite is a very important tool. (GECF), the global platform of the leading gas pro- We have been collaborating with the Interna- ducing nations, as part of the Forum’s Environ- tional Energy Agency… the European Commission; mental Knowledge and Solutions (EKS) we are using their satellites which we are very initiative. happy with in helping to find ways to improve Entitled “Methane Emissions Reduction Prac- the technology for satellite monitoring. But we tices and Measurement Workshop”, the event are also very keen to work with the industry,” gathered leading experts drawn from the energy said Mr Lelong. world who explored ways to tackle the second “At the end of the day, it’s the industry that most abundant anthropogenic greenhouse gas will be coming up with the solutions and our role after carbon dioxide (CO2) in our atmosphere. therefore is as a data provider and to help the Agricultural activities are the biggest con- industry understand where, and perhaps, how Officials and experts during online workshop. tributor to methane emissions, followed by the to mitigate emissions efficiently.” oil and gas industry, accounting for around 25 The third speaker at the widely attended percent, of which 77 percent comes from the and prevent methane emissions,” said Exporting Countries (OAPEC), enriched the event event was Eng. Mustafa Amer, Researcher at upstream sector. Methane is more than 25 times Sentyurin. with his ideas on mitigating techniques that can GECF, who presented methane abatement prac- as potent as carbon dioxide at trapping heat in Citing United Nations (UN) figures, Sentyurin be applied across the industry. tices and a case study from the upstream gas the atmosphere. It is, however, much more short- noted that around 80 percent of oil and gas “We have to first look at the big picture. The sector from a GECF Member Country. lived compared to CO2. measures abatement practices could be imple- contribution of oil and gas sector to the global “Methane data widely vary across sources. Welcoming the guest speakers and the mented at a negative or low-cost. methane emissions is estimated at 9-12 percent. Improving methane measurement at scale will audience, H E Yury Sentyurin, Secretary General “Globally, the GECF is engaged with the UN It’s not 70 or 80 or 90 percent. We are a com- accelerate the progress globally. But priority of the GECF, underscored the complex challenges Framework Convention on Climate Change as ponent in the other big components,” said El should be given to abatement practices that target imposed by climate change and the many solu- an observer organisation and aims, through this Moati. venting in the upstream sector,” noted Mr Amer. tions the Forum is advancing as part of an inter- involvement, to contribute to the international “My key message today is that methane emis- “Methane abatement technologies in the oil national effort. climate debate and promote our Member Coun- sions reduction creates an opportunity – a real and gas industry are available and can be accom- “Methane emissions as a topic has historically tries’ collective actions for improving the envi- opportunity – to make oil and gas industry part panied by numerous economic gains.” been complex due to lack of data transparency ronmental credentials of natural gas and pro- of the solution to achieve sustainable energy The GECF launched the EKS initiative with and due to difficulty in quantifying and detecting moting its role in sustainable development.” system.” an aim to share best practices, acquire knowledge, the primary source. The good news is that our Guest speaker Wael Abd El Moati, Gas Indus- Next guest speaker, Christian Lelong, Director and bring solutions to meet the environmental industry has practices in place to monitor, reduce, tries Expert at Organisation of Arab Petroleum of Natural Resources at Kayrros, delved into the challenges of today and tomorrow. WEDNESDAY 23 JUNE 2021 BUSINESS 15 WTO Director-General says restoration of German finance minister, global commercial activity faces challenges auditors faulted in Wirecard probe QNA — DOHA AP — BERLIN Scholz is the center-left Social Director-General of the World Democrats’ candidate to replace Trade Organization (WTO) Ngozi German lawmakers presenting Merkel in the Sept. 26 vote. Okonjo-Iweala confirmed that a report yesterday into the “Finance Minister Olaf trading activity will remain at collapse of the payment Scholz and the leadership of the lower levels than before unless processing company Wirecard Finance Ministry bear political the mechanisms of globalization accused the country’s finance responsibility for the Wirecard are reviews. She added that minister and auditors Ernst & scandal,” Union bloc lawmaker another important condition is Young of numerous oversight Matthias Hauer told reporters. the reintegration of countries failings. “Mr. Scholz presented himself whose international trading Wirecard filed for pro- as a silent minister with activity dropped like African tection from creditors through implausible lapses of memory.” countries as well as other insolvency proceedings last He said the Finance Ministry marginalized and poor countries. year after admitting that 1.9 should have stepped in when During the session “Global billion euros ($2.3 billion) sup- the country’s financial regulator Trade Revival” Qatar Economic posedly held in trust accounts in 2019 issued a ban on short- Forum, Powered by Bloomberg in the Philippines probably selling Wirecard stock. The ban that was held via video com- didn’t exist. gave credence to Wirecard’s munication today, the Director- Director-General of the World Trade Organization, Ngozi Okonjo-Iweala (right), speaking at the The company’s former chief claim that its stock was being General explained that WTO session “Global Trade Revival” Qatar Economic Forum. executive, Markus Braun, is manipulated at a time when faces great challenges in pro- being investigated on suspicion media reports, particularly by viding the materials needed to of criminal fraud. Interpol has Britain’s Financial Times, indi- manufacture vaccines, dealing The Director-General of WTO reviewed the issued a red notice for Wire- cated the company was cooking with export restrictions and role of the organization in raising global trade card’s former chief operating the books. In their 4,500-page removing obstacles, restoring to pre-COVID-19 levels and examining the officer, Jan Marsalek, on allega- report, lawmakers also heavily its negotiating function, and tions of “violations of the criticized the auditing company making it able to revitalize future of the rules-based global trading German duty on securities act Ernst & Young, also known as trade, especially with regard to system. She also outlined the role of the and the securities trading act, EY, for repeatedly approving fisheries, sea development, and criminal breach of trust (and) Wirecard’s annual accounts. settling trade disputes between organization in achieving sustainable devel- especially serious case of fraud.” Questions have also been countries even after the signif- opment and improving the climate by encour- The nine-month parlia- raised about political lobbying icant slowdown and negative mentary probe that concluded for Wirecard by Merkel during growth rates for global trade aging trade in recycled materials. this week immediately weighed a 2019 visit to China. Germany’s pre-pandemic that deteriorated upon Germany’s upcoming longtime leader, who isn’t further after the spread of election, with both opposition running for a fifth term, tes- COVID-19. trade to pre-COVID-19 levels role of the organization in in recycled materials and parties and Chancellor Angela tified before the parliamentary The Director-General of and examining the future of the achieving sustainable devel- launching programs and initi- Merkel’s Union bloc heavily crit- investigations committee that WTO reviewed the role of the rules-based global trading opment and improving the atives to reduce carbon emis- icizing the role played by Finance the payments company organization in raising global system. She also outlined the climate by encouraging trade sions and others. Minister Olaf Scholz in the affair. received no special treatment. UK pushes on Sebastian Smith named Regional YouTube wins user copyright with talks to join General Manager of Octagon Pacific trade Middle East and North Africa fight in top EU court ruling partnership THE PENINSULA — DOHA REUTERS — LUXEMBOURG AP — LONDON Octagon, the preeminent Google’s YouTube has scored a The UK launched negotiations marketing, creative and talent win in its latest copyright- Tuesday to join a trade part- management agency in global infringement challenge after nership in and around the sports and entertainment; in Europe’s top court said online Pacific Ocean, as it explores partnership with IPG’s Middle platforms are not liable for new opportunities around the East Communications Network users uploading unauthorised world following its departure (MCN), the leading regional works unless the platforms from the European Union. group of advertising and failed to take quick action to The British government marketing agencies, today remove or block access to the said negotiating teams will be named Sebastian Smith content. working over the coming (pictured) as Regional General The case marks the latest months to join the 11-country Manager, Octagon Middle East development in a long-running Comprehensive and Pro- and North Africa. year’s global event. battle between Europe’s $1 gressive Agreement for Trans- The move expands and Smith will report to Aykan trillion creative industry and Pacific Partnership, which is strengthens Octagon’s reach in Azar, Managing Director, online platforms, with the former home to around half a billion the Middle East and North Octagon APAC, Middle East and seeking redress for unauthorised people. Africa, combining Octagon’s Africa, and Marc Lawandos, works that are uploaded. A 3D printed YouTube logo is seen in front of displayed EU ﬂag It says joining the free global expertise with the best Managing Director, Octagon It is also part of the wider in this illustration. trade area would deepen ties regional marketing agencies, Middle East and FP7/McCann, debate on how much online plat- with fast-growing economies capabilities, and talent to KSA at MCN Group. forms and social media should platforms could also be liable dock after Frank Peterson, a across Asia-Pacific and the provide an unrivalled integrated “The breadth of Sebastian’s do to police the posting of unau- if they do not put in place the music producer, sued the Americas, including Mexico, solution for clients in the sports international and major sports thorised, illegal or hateful appropriate technological tools company and Google in Malaysia and Vietnam. It and entertainment arena. and event experience, plus content, an issue that European to tackle copyright breaches by Germany over the uploading to singled out digital, services While managing operations proven track-record across the Union regulators are targeting their users or where they YouTube by users in 2008 of and finance as sectors that and growing sports and enter- industry, make him the ideal with tough new rules that could provide tools on their platforms several phonograms to which stand to gain from a trade deal, tainment opportunities champion for our business and come into force next year. for illegal sharing of content. he holds the rights. which it said should mean regionally, Smith will oversee clients in the region,” said Azar. “As currently stands, oper- In response to the court In a second case, publishing tariff-free trade for 99.9% of a new Octagon office, housed “In preparation for the FIFA ators of online platforms do not, ruling a YouTube spokesperson group Elsevier took legal action exports. within MCN Group’s long- World Cup, Sebastian’s role in principle, themselves make said: “YouTube is a leader in against file-hosting service “Membership of the CPTTP standing business in Doha – uniquely harnesses the collective a communication to the public copyright and supports rights Cyando in Germany after its free-trade partnership would home to the FIFA World Cup in strength and vast local knowledge of copyright-protected content holders being paid their fair users uploaded several Elsevier open up unparalleled oppor- Qatar 2022. In Doha, working of our network, to create an unri- illegally posted online by users share.” works on its platform Uploaded tunities for British businesses in close collaboration with local valled solution for global and of those platforms,” the EU “That’s why we’ve invested in 2013 without its approval. and consumers in the fast- agency teams from FP7/ homegrown clients – as such Court of Justice said. in state of the art copyright tools A German court subse- growing Indo-Pacific,” Prime McCann, UM, Jack Morton and we’re calling it our ‘Home “However, those operators which have created an entirely quently sought advice from the Minister Boris Johnson said. Weber Shandwick, as part of Advantage’,” said Lawandos. do make such a communication new revenue stream for the EU Court of Justice, which ruled “It’s an exciting opportunity to MCN’s “Home Advantage” “It’s a momentous time to in breach of copyright where industry. In the past 12 months on both cases yesterday. build on this country’s entre- group offering, the collective be coming into such an exciting they contribute, beyond merely alone we have paid $4bn to the Existing EU rules exempt preneurial spirit and free- team is perfectly placed to meet region, and privilege to be making those platforms music industry, over 30 percent YouTube and its peers from trading history to bring eco- the strategic, creative, and doing that backed by the com- available, to giving access to of which comes from monetised such liability regarding copy- nomic benefits across the experiential needs of new and bined teams at both Octagon such content to the public,” user generated content.” right when they are told of vio- whole of the UK” existing clients around next and MCN group,” said Smith. judges said. The EU court said YouTube found itself in the lations and remove them. The CPTTP is a much looser arrangement than the European Union, which the UK formally left last year, as Nissan CEO promises turnaround for disgruntled shareholders it does not include any political integration. After the AP — TOKYO All shareholders remained continue with improvements,” conclusion of a transition anonymous and were identified said Uchida. period that was intended to Nissan Chief Executive Makoto with numbers. At the end of the two-hour smooth the UK’s departure, Uchida (pictured) pleaded for Separately, another share- meeting, shareholders the country is now able to patience from disgruntled holder got up to express his approved the reappointment of negotiate its own trade deals. shareholders yesterday and outrage that there have been no the 12 directors. They include Last week, the British gov- promised a turnaround at the dividends for two years, while Uchida; Jean-Dominique ernment negotiated the Japanese automaker, which is some executives still are paid Senard, an executive from broad outlines of a trade deal projecting a third year of losses huge salaries. French alliance partner Renault, with Australia that will see as it struggles to distance itself Uchida assured investors and seven outside directors. tariffs on a range of goods from a scandal over its former the automaker was doing its The approval was shown by eliminated over coming chairman, Carlos Ghosn. best to avert a third straight applause. Votes were also sub- years. “What we have worked on year of losses. mitted by proxy and online in The United States, the during years of hardship will Slammed by weak sales advance. world’s biggest economy, is bear fruit,” Uchida said at the during the pandemic, Nissan Another proposal, which not part of the partnership; annual regular shareholders’ is projecting a 60 billion yen demanded the disclosure of the former President Donald meeting. Attendance was ($540m) loss for the fiscal alliance agreement between Trump withdrew the country limited at the meeting, which year ending in March 2022. Renault and Nissan, known as from its predecessor, the was also relayed online due to been solved internally instead to Lebanon in late 2019. But his That’s smaller than the losses RAMA, for “Restated Alliance Trans-Pacific Partnership. His pandemic precautions. being handed over to arrest shocked Japan and raised racked up in the previous two Master Agreement,” was successor, Joe Biden, has pre- One shareholder got up and prosecutors. serious questions about lead- years. rejected. Nissan management viously indicated that he demanded a detailed disclosure Nissan Motor, based in the ership at the maker of the Leaf Uchida said profitability had opposed that, saying con- would like to rejoin the of Ghosn’s alleged wrongdoing, port city of Yokohama, has been electric car, Z sportscar and was improving, and asked fidentiality was necessary. grouping but has yet to set out saying questions about gov- struggling in recent years. Its Infiniti luxury brand. shareholders to give Nissan a The relationship between any substantial plans since ernance remained brand image was battered by “We are sorry to have bit more time to prove itself. Renault and Nissan has been a taking office in January. unanswered. the 2018 arrest of Ghosn over caused such worries. We are Nissan boasts fine technology recurring sticking point. Ghosn China, the world’s No. 2 Another shareholder also various financial misconduct doing our best to recover your in automated driving and was sent in by Renault to economy, also does not addressed the Ghosn scandal, allegations. trust. I have not forgotten this electric vehicles, he said. salvage Nissan from the brink belong. saying the problem should have Ghosn jumped bail and fled for a moment,” said Uchida. “Please be assured we will of bankruptcy in 1999. WEDNESDAY 23 JUNE 2021 SPORT 19 Modric, Perisic help Croatia enter last 16

REUTERS — GLASGOW Republic finished third in the group, but still advance with Second-half goals from Luka their four point haul. Modric and Ivan Perisic helped Meanwhile, Germany's Croatia book their spot in the attacking midfielder Thomas last 16 of the European Cham- Mueller will have to wait until pionships in a 3-1 win over this morning to find out if he can Scotland yesterday. play in their final Euro 2020 It was winner takes all in Group F game later in the day, Glasgow with three points with the player nursing a knee meaning certain qualification injury, coach Joachim Loew for the knockout stages, and a said. tense match was settled by Mueller was injured during Modric’s stunning curler in the their 4-2 win over Portugal at the weekend and has not trained with the team. "For Mueller, we will have to wait until tomorrow," Loew told a news conference yesterday. "He will undergo a final test and then we will see and decide if he is capable of playing or not." Loew said Mats Hummels, Ilkay Gundogan and Robin Gosens had been ruled fit after Croatia’s Luka Modric scores their second goal, yesterday. overcoming minor injuries picked up in the Portugal game. 62nd minute and Perisic’s Perisic’s third means Croatia Early England goal ensures Wembley in the last 16 next The trio trained with the team Today's Fixtures flicked header late on. now finish second in Group D, win and top spot in Group D week when England will take earlier yesterday at their base Callum McGregor’s pow- and will play the runner-up of Raheem Sterling scored on the runners-up in Group F, north of Munich. 7pm: Slovakia vs Spain erful strike three minutes before Group E in Copenhagen on June early as England beat the Czech to be decided today. "We were all happy with the 7pm: Sweden vs Poland half time had cancelled out 28 in the last 16 knockout stage. Republic 1-0 at Wembley yes- Unbeaten England finished way we beat Portugal but there Nikola Vlasic’s opener, but England’s 1-0 win over Czech terday to take top spot in Group with seven points, comfortably was also an analysis we can 10pm: Germany vs Steve Clarke’s Scotland were Republic means they top the D at the European ahead of Croatia, who were improve some things. The team Hungary second best, and are still to group, with the Czechs through Championship. second with four after beating is focused and concentrated and 10pm: Portugal vs France reach the knockout stages of a as one of four best third-placed The 12th minute headed Scotland 3-1 in Glasgow. knows that we have taken just major tournament. teams. goal also means a return to A tired-looking Czech one step," Loew said. Copa America: Argentina qualify for quarter-finals

REUTERS — BRASILIA from three games and leaves have very many chances at tricky games against Chile and them top of Group A, two points goal.” Paraguay had never Uruguay. For Argentina, Sergio Argentina ensured their place ahead of Chile, four ahead of beaten Argentina over 90 Aguero made his first interna- in the quarter-finals of the Paraguay and six ahead of minutes in the Copa America, tional start since November Copa America on Monday Uruguay. a run that covers 25 matches, 2019 but was anonymous up when they beat Paraguay 1-0 in Bolivia are bottom with no and they were up against it as front and it was Di Maria and a game notable for Lionel Messi’s points from two matches so early as the 10th minute when Lionel Messi who stood out. record-equalling 147th with four of the five teams Argentina went ahead. On the night he equalled appearance for the national side. qualifying for the last eight, Paraguay came out more Javier Mascherano’s record of The victory in Brasilia was Argentina are sure of positive in a changed second 147 games in the blue and white Argentina’s Argentina’s second 1-0 win progressing. half, with Newcastle United’s shirt, Messi was a busy Lionel Messi in in a row in this tournament “We’re through but we Miguel Almiron always dan- presence in the Paraguayan action against and their 16th match without have to keep improving,” said gerous on the left wing. half. Paraguay. defeat since losing in the defender German Pezzella. However, although they Both he and Di Maria drew Copa America semi-final in “We had a great first half, enjoyed the bulk of the pos- fouls from their opponents who 2019. our intensity wasn’t the same session they could not turn it ended up committing 23 fouls It gives them seven points in the second but they didn’t into chances and now face two to Argentina’s 11.

GM Alexander Grischuk Bowlers leave WTC final on knife edge

REUTERS — SOUTHAMPTON India’s Mohammad Shami (second left) celebrates with team-mates after taking the wicket of New Zealand’s New Zealand claimed a handy Colin de Grandhomme. first-innings lead of 32 and restricted India to 64-2 on an absorbing fifth day’s play in the final of the inaugural World Test Championship (WTC) yesterday. Mohammed Shami inspired India’s lion-hearted effort with the ball on day five to deny New Zealand a bigger lead in the low- scoring match. India are 32 runs ahead with eight wickets in hand heading into the reserve day today, which has been activated to make up for lost time in the weather-hit match. Qualifiers advance to Captain Virat Kohli, batting on eight, and Cheteshwar Pujara, on 12, will hope to avoid any dra- face Carlsen at Katara matic collapse which could gift New Zealand a shot at the title. International Chess Earlier, resuming on 101-2, New Zealand were all out for 249 THE PENINSULA — DOHA Final. The star power in for a 32-run first innings lead at both events was off the the Ageas Bowl. A total of 15 qualifiers, chart with GM Alexander Kane Williamson compiled a spectacularly by a diving put New Zealand ahead but fell India lost opener Gill before including wildcard entrant Grischuk, GM Andrew painstaking 49, while Tim Southee Shubman Gill at cover before the agonisingly short of what could they could wipe out the first-innings GM Alexander Grischuk of Tang, GM Ray Robson, GM (30) and Kyle Jamieson (21) pro- seamer sent BJ Watling’s bails have been only the second indi- deficit and Rohit Sharma made 30 Russia, have advanced to Nihal Sarin, GM Praggnan- vided cameos to push New Zealand flying with a fuller delivery. vidual fifty of the match. before Southee trapped him lbw to face 7-time world andhaa, GM Dimitry past India’s first-innings total of 217. The seamer, who got the ball Ishant Sharma (3-48) ended deny India the upper hand. champion and defending Andreikin, GM Vladislav Shami (4-76) led India’s to swing and bounce alarmingly, the New Zealand skipper’s five- The one-off match lost two champion Magnus Carlsen Artemiev, and many others fightback after skipper Virat Kohli returned after the lunch break to hour vigil, inducing him into full days to rain on England’s of Norway in the 2nd battling keen contests. made three inspired bowling claim the wickets of Colin de feebly poking at a delivery and south coast, diminishing hopes of edition of the Katara Inter- After the dust settled, changes in the morning session. Grandhomme and Jamieson. Kohli grabbed the edge standing a result in the inaugural World national Chess Tour- the 14 qualifiers to make Shami had Ross Taylor caught Williamson hit a boundary to wide at second slip. Test Championship final. nament 2021 which began the list are: GM Vladislav on Sunday. Artemiev (RUS), IM The qualifiers emerged Thomas Beerdsen (NED), WTC FINAL: SCOREBOARD from among 5143 partici- IM Yoseph Taher (INA), GM India 1st Innings 217 Jadeja 7.2-2-20-1 (2nb) Zalmi to meet Sultans in PSL final pants worldwide. Grischuk Rasmus Svane (GER), GM New Zealand 1st Innings India 2nd Innings was extended the wild card Gyula Pap (HUN), GM T. Latham c Kohli b Ashwin ...... 30 R. Sharma lbw b Southee ...... 30 Peshawar Zalmi batsmen by the organizers – the Olexandr Bortnyk (UKR), D. Conway c Shami b Ishant ...... 54 S. Gill lbw b Southee ...... 8 Hazratullah Zazai and Jonathan Qatar Chess Federation GM SL Narayanan (IND), K. Williamson c Kohli b Ishant ...... 49 C. Pujara not out ...... 12 Wells in action against Islamabad R. Taylor c Gill b Shami ...... 11 V. Kohli not out ...... 8 (QCF) in cooperation with GM Sergei Zhigalko (BLR), United in Abu Dhabi yesterday. H. Nicholls c Rohit b Ishant ...... 7 Extras (lb4, nb1, w1) ...... 6 the Cultural Village Foun- GM Ray Robson (USA), IM BJ Watling b Shami ...... 1 Total (2 wkts, 30 overs, 140 mins) ...... 64 Zalmi won the play-off game dation – Katara – given his Artyom Zubritskiy (RUS), C. de Grandhomme lbw b Shami ...... 13 To bat: A Rahane, R Pant, R Jadeja, R Ashwin, J by eights wickets to reach the stature as World No.7 and GM Andrew Tang (USA), K. Jamieson c Bumrah b Shami ...... 21 Bumrah, I Sharma, M Shami ﬁnal of the 2021 Pakistan Super FIDE Rating (2776). GM Vugar Rasulov (AZE), T. Southee b Jadeja ...... 30 Fall of wickets: 1-24 (Gill), 2-51 (Rohit) League where they will play With $12,800 in prizes GM Dmitry Andreikin N. Wagner c Rahane b Ashwin ...... 0 Bowling: Southee 9-3-17-2; Boult 8-1-20-0; Jamie- against Multan Sultans. The six- up for grabs, the action will (RUS), FM Jose Gabriel T. Boult not out ...... 7 son 10-4-15-0 (1nb, 1w); Wagner 3-0-8-0 team T20 league ends tomorrow. continue today with the Cardoso (COL). Extras (b4, lb16, nb6) ...... 26 Match position: India lead by 32 runs with eight PIC: @PESHAWARZALMI Knockout Final of Online The final will be played Total (all out, 99.2 overs, 475 mins) 249 wickets standing Fall of wickets: 1-70 (Latham), 2-101 (Conway), Note: No play at all on first and fourth days (rain), Bullet Chess on lichess.org. today from 6pm Doha 3-117 (Taylor), 4-134 (Nicholls), 5-135 (Watling), additional sixth day will be used The top seven finishers Time and is expected to 6-162 (De Grandhomme), 7-192 (Jamieson), 8-221 Toss: New Zealand in two arena qualifiers (#1, attract a large worldwide (Williamson), 9-234 (Rahane), 10-249 (Southee) Umpires: Michael Gough (ENG), Richard Illingworth #2) battled for the right to audience virtually live on Bowling: Ishant 25-9-48-3; Bumrah 26-9-57-0 (ENG) join Carlsen and Grischuk YouTube and other social (3nb); Shami 26-8-76-4; Ashwin 15-5-28-2 (1nb); TV umpire: Richard Kettleborough (ENG) in the 16-player Knockout media channels. Sport

WEDNESDAY 23 JUNE 2021 Vaccine offer, 'architecturally fascinating' venues create fan buzz ahead of Qatar 2022 It’s a great gesture by Qatar to provide free vaccines to fans. It will no doubt provide safe and healthy environment for fans to enjoy the World Cup matches while ensuring fans fill stadiums to support their teams and the World Cup itself.

Mohammed Naeem Saleem Sport |18

EURO 2020: Croatia 3, Scotland 1; England 1, Czech Republic 0 (Group D) -COPA AMERICA: Uruguay 1, Chile 1; Argentina 1 Paraguay 0 Mauritania see off Yemen to seal Arab Cup spot

FAWAD HUSSAIN will utilise all this experience in THE PENINSULA the match against Djibouti,” he said. The Lebanon coach added The ongoing FIFA Arab Cup that Arab Cup will be a huge Qualifiers produced another tournament for his side. fascinating match last night “The Arab Cup will be like a with Mauritania sealing their mini-World Cup. A competition berth in the group stage after a involving all Arab teams is 2-0 victory over spirited Yemen important, especially since this at the Jassim Bin Hamad has not happened since a long Stadium. time,” he said. Ismael Diakite gave Mauri- A victory against Lebanon tania the lead in the first half today will also be a huge with Hemeya Tanjy sealing the morale-booster for Djibouti, victory as Mauritania joined who will continue their World Tunisia, the United Arab Cup journey in the second Emirates and Syria in Group B round group stage versus for the inaugural edition of the Algeria, Burkina Faso and Niger FIFA Arab Cup to take place in later this year. Qatar from November 30 to But coach Julien Mette, who December 18. is missing several key players Backed by a good number in the match, said it is going to of fans last night, Mauritania be a big challenge. started as hot favourites but “We are determined to well Ismael Diakite scores Mauritania's ﬁrst goal against Yemen, yesterday. and book a place in the Arab Cup,” Djibouti coach told Ismael Diakite gave Mauritania reporters yesterday. Yemen were also impressive equaliser in the second half but 2022 qualifying, Lebanon are will be a proud moment for his “We have watched five the lead in the first half with before a red card to Mudir Al they were resisted well by a eyeing another achievement side, which is eyeing a strong matches involving the Lebanese Hemeya Tanjy sealing the Radaei, seven minutes before solid attack from the opposition. this month as they meet Dji- show against their African side and we are well aware of victory as Mauritania joined half-time, cost them dearly. While the Asian side was bouti in a play-off for the first opponents. their strengths and weaknesses. Tunisia, the United Arab The match swung both ends looking for a leveller, Tanjy FIFA Arab Cup. “We are ready to face Dji- They are good team and the Emirates and Syria in Group B in the start with Mauritania cre- sneaked in to double the Action will return to the bouti and our goal is to win this match will definitely be dif- ating good opportunities to advantage for Mauritania, five iconic Khalifa International match and qualify for the Arab ficult,” he added reposing con- for the inaugural edition of the score early. The Africans finally minutes before time as Corentin Stadium tonight in the inter- Cup,” Taha told reporters at a fidence in his side. FIFA Arab Cup to take place in took the lead in the 18th minute Martins-coached side advanced. continental clash that will see virtual news conference “We have a young team, Qatar from November 30 to when Adam Ba assisted Diakite, Lebanon eye coveted Arab the winners joining Algeria, yesterday. having an average age of 25 December 18. who put the ball back of the net Cup berth today Egypt and Sudan in Group D. “The recent Asian Qualifiers years who have the desire to in style. After qualifying for the next Lebanon coach Jamal Taha were the best preparations for prove themselves,” he said. Yemen, attempted for an round of FIFA World Cup Qatar said qualifying for the Arab Cup us ahead of this match and we The match will begin at 8pm.