Qatari Banks' Outlook Stable Despite GCC Crisis
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SUNDAY JULY 7, 2019 DHU AL-QADAH 4, 1440 VOL.12 NO. 4679 QR 2 DUSTY & WINDY Fajr: 3:20 am Dhuhr: 11:39 am HIGH : 45°C Asr: 3:02 pm Maghrib: 6:29 pm LOW : 35°C Isha: 7:59 pm MAIN BRANCH LULU HYPER SANAYYA ALKHOR Business 10 Sports 13 Doha D-Ring Road Street-17 M & J Building MATAR QADEEM MANSOURA ABU HAMOUR BIN OMRAN QIIB first Islamic bank in Qatar to Rockstar Rohit hits record Near Ahli Bank Al Meera Petrol Station Al Meera launch contactless payment service 5th World Cup ton alzamanexchange www.alzamanexchange.com 44441448 Qatar-UK trade volume touched Qatar military parachute Qatari banks’ $2.9 bn in 2018: team wins three QC chairman HE volume of trade be- gold medals outlook stable Ttween Qatar and Britain reached nearly $2.9 billion TheTThh QatarQ t SSpeciali l in 2018 as against $2.8 Forces’ Parachuting billion in the previous year, Force team won Qatar Chamber (QC) Chair- three gold medals man HE Sheikh Khalifa bin despite GCC Jassim bin Mohammed al in the World Military Thani has said. Parachute Jumping The number of Qatari- Championship held British companies operating in Switzerland with in the Qatari market cover- crisis: Fitch the participation of 17 ing various sectors has reached 675, he said at a teams representing 11 joint Arab-British Economic countries. PAGE 16 Loan-to-deposit ratio to remain broadly stable Summit in London. “There are also 50 SATYENDRA PATHAK pect private sector deposit growth to British companies with a DOHA prove sluggish amid still-weak eco- 100 percent ownership in nomic activity and limited scope for the Qatari market in various BANKS in Qatar have stable outlook further interest rate hikes, we forecast sectors such as decoration, despite the ongoing blockade as the overall deposit growth at just 2.9 per- services, energy, consult- crisis-related pressures on commercial cent y-o-y in 2019, far below the recent ing, technology, education banks’ funding have eased, Fitch Solu- 10-year average of 14.6 percent,” the and health,” he said at the tions has said in its latest report. report said. meeting. PAGE 10 Qatar, EU vow to promote peace, According to the report, the sharp Meanwhile, the report said, it ex- outflows of foreign funding sparked pected loan growth to remain rela- by the June 2017 outbreak of the GCC tively subdued, keeping the loan-to- crisis have gradually deposit ratio broadly find lasting solution to conflicts reversed over 2018. stable. While most inves- “In particular, ‘Multiple’ injuries QNA tors based in boycott- we believe the ongo- BRUSSELS ing GCC states like ing trend of declining in gas explosion Saudi Arabia, and the public sector loans will at US mall QATAR and the European Union (EU) have reiterated UAE appear to have continue over the quar- their commitment to continuing their work to promote completed their with- ters ahead, weighing MIAMI A powerful gas explosion peace and sustainable solutions to the existing conflicts. drawal from Qatar, on the headline figure,” ripped through a shopping mall This came during the first official high-level meet- the report said, others it said. in Florida on Saturday, caus- ing held between the Foreign Ministry and the Euro- based in Asia and the O Foreign reserves “Qatar’s fiscal bal- ing multiple injuries, firefight- pean External Action Service in Brussels under the joint West have scaled up ance returned to sur- ers said. Photos on US news chairmanship of Minister of State for Foreign Affairs their presence in the have risen back plus in 2018 and with outlets showed a large field of HE Sultan bin Saad al Muraikhi and Secretary General country. over the past year to numerous 2022 FIFA debris outside the Fountains of the European External Action Service Helga Schmid. “Foreign investors reach $30.4 billion in World Cup-linked Plaza shopping center in Planta- The joint meeting launched the implementation of have likely been as- January 2019 projects nearing com- tion in south Florida. The photos the cooperation arrangements signed on March 7, 2018 sured by a lack of es- pletion, we expect the showed an LA Fitness gym heav- during the official visit of the Amir HH Sheikh Tamim calation in the crisis, public sector’s infra- ily damaged, with its windows bin Hamad al Thani to Brussels. as well as Qatari authorities’ demon- structure-related financing needs will blown out. The Plantation Fire The high-level political consultations focused on the strated willingness and ability to sup- be more limited,” the report said. Department said it was a gas bilateral relations between Qatar and the EU and recent Minister of State for Foreign Affairs HE Sultan bin Saad al port the local economy, most notably In contrast, the report said, pri- explosion, and it reported “mul- developments in the Gulf region, including the Gulf cri- Muraikhi and Secretary General of the European External through placing large amounts of vate sector loans at 57 percent of total tiple patients.” Local TV station sis, a joint press statement said. Action Service Helga Schmid, in Brussels. foreign currency deposits with local loans have seen double-digit expan- WPLG said around 20 people The two sides stressed the need to defuse tensions banks to mitigate funding pressures sion throughout the past 10 months, were injured, two of them seri- and avoid escalation, which would have a significant and cooperation in humanitarian assistance and eco- over the second half of 2017 and the driven primarily by the services and ously. (AFP) impact in the region and beyond. The discussions also nomic and social issues. first half of 2018,” the report said. trade segments. paid special attention to Yemen, the Middle East peace The two sides intend to strengthen their security Rising hydrocarbon prices and “We believe private sector credit process and the situation in the Horn of Africa, Syria, partnership and combat terrorism and violent ex- thus government revenues have prob- demand will remain healthy over 2019 Afghanistan, Sudan and Libya. tremism. They also agreed to enhance cooperation ably also served to underpin confi- as economic activity inches up, but The Ministry of Foreign Affairs and the European within existing multilateral forums such as the Inter- dence in Qatar’s overall macroeco- note that this would only partially off- External Action Service welcomed the possibility of national Counter-Terrorism Forum and the Global nomic stability. set the declining trend in public sector closer integration in the areas of security, counter-ter- Fund to Support the Participation and Sustainability In turn, the report said, the author- borrowing. Overall, we forecast loan rorism, conflict prevention, mediation, development, of Communities. ities have begun to pull deposits back growth to reach 3.6 percent y-o-y in out, causing banks’ aggregate deposit 2019, up from 3.2 percent in 2018, base to decline by 1.5 percent year-on- implying a modest increase in Qatar’s year (y-o-y) in 2018. loan-to-deposit ratio to 1.168 this year, According to the Planning and compared with 1.161 in 2018,” the re- Statistics Authority’s 11th economic port said. Qatar, Poland foil smuggling bid outlook, this phased withdrawal is “Foreign reserves have risen back Qatar’s General Directorate of Drug Enforcement, in a joint operation with the Polish designed to return the banking sys- up over the past year to reach $30.4 Police and customs office, has thwarted an attempt to smuggle 5.8kg of heroin tem dynamics “to the fundamentals billion in January 2019 and we still es- S California hit by into Poland. The Polish authorities arrested the accused and seized the drug. The of supply and demand”, implying the timate sovereign wealth fund assets at 7.1-magnitude arrest was made after the International Communication Section of the Department post-June 2017 liquidity injections well over 150 percent of GDP, implying of Studies and International Affairs at the Directorate received a tip off about the were intended as a one-off, temporary the state can comfortably offer support quake (PG 9 ) attempt of a European national to smuggle narcotics into Poland. PAGE 2 measure. in case of another liquidity crunch,” “As such, and because we also ex- the report said. 25,668 newborns screened for hearing impairment at HMC in 2018 CATHERINE W GICHUKI Qatar prior to their discharge from factors such as family history, ad- hearing screening. “Now, we have DOHA the hospital. mission to Intensive Care Unit for many clinics including cochlear The centre focuses on early more than 48 hours etc., it’s done implant, paediatric audiology, AS many as 25,668 newborn ba- hearing impairment prevention in upon birth and after two months. geriatric audiology, dizzy, rehabili- bies were screened for hearing im- children by adopting a three-phase “The test is repeated after one year tation, hearing aid lab, and audi- pairment at Hamad Medical Cor- programme -- newborn screening to make sure everything is okay.” tory verbal therapy, among other poration (HMC) in 2018. Out of prior to mother’s discharge after She stressed the importance clinics,” she said, adding, “We see these, only 20 were found to have delivery; rescreening of infants of caring for children’s ears from around 145 cases in HMC Audiol- hearing problems. during their first vaccination at So far, the HMC has fitted around 300 with pregnancy and soon after birth ogy clinics.” Neonatal hearing loss screen- two months; and at pre-school age. by going for regular screening for So far, the HMC has fitted ing is being carried out under the Speaking to media persons, cochlear implants.