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IQ Nine-Month Profit Jumps 62% to QR3.8Bn

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IQ Nine-Month Profit Jumps 62% to QR3.8Bn NEW BLOW | Page 2 DEAL PLAN | Page 13 Lockheed’s India eyes $15bn Saudi exports lift deal at risk to China Thursday, October 25, 2018 Safar 16, 1440 AH TURKISH FESTIVAL: Page 16 GULF TIMES Turkey posts 100% growth in exports to BUSINESS Qatar, says envoy Aviation Page: 15 700 startups to attend entrepreneurial matchmaking event By Peter Alagos Business Reporter he Centre for Entrepreneurship (CFE) of the College of Business and Economics at Qatar University, in collaboration with Qatar Business Tand Incubation Centre (QBIC) and Qatar Development Bank (QDB), is launching the third edition of ‘Startup!’, an entrepreneurial matchmaking event slated in Doha on October 29. Close to 700 startups, entrepreneurs, local partners, and other attendees have signed up for the event, which will be held from 5pm to 7.30pm at the St Regis Hotel, organisers said. The event consists of fi ve-minute pitching sessions and negotiation mod- ules. After the pitches, there will be a networking session to allow these vari- An aerial view of Qapco’s facilities in Mesaieed (file). IQ – the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel – has reported earnings-per-share of ous groups of people to interact and fi nd potential collaborators. QR6.32 at the end of September 30, 2018. Last year, startups received “great attention” from the investors and people looking for employment opportunities. The networking session at ‘Startup!’ also served as a platform to match entrepreneurs from diff erent groups of people. Dr Khalid al-Abdulqader, dean of the College of Business and Economics, said the event encourages students and startups to thrive and grow, while enhance their skills and knowledge about entrepreneurship and business de- velopment in Qatar. He also pointed out the importance of providing innovative mechanisms to facilitate the necessary funding needs for startups, especially in the early IQ nine-month profi t stages by approaching the largest number of investors in one pool. CFE director Dr Mahmoud Abdullatif said the development of practical aspects and skills of entrepreneurship for startups plays a key role in the event. He said ‘Startup!’ focuses on the hand-on skills of entrepreneurship for all students who are interested in entrepreneurship and willing to estab- lish new projects. Abdullatif said Qatar has an advanced business environment and is full of jumps 62% to QR3.8bn innovative and youthful ideas that should be refl ected in the growth of new startups. He said ‘Startup!’ brings together all angel investors, funders, star- mproved prices and sales volumes eff orts towards optimising operations same period of 2017. Polyethylene pric- to the increase in the steel prices. Rev- tups, students, and individuals looking for employment opportunities. across the group entities helped and costs. es have started to stabilise and grow enue stood at QR4.6bn, signifi cantly up QBIC CEO Aysha al-Mudahka said, “QBIC is proud to be partnering with Imarket heavyweight Industries The year-on-year moderate im- while fuel additive prices have im- 44% on last year. The revenue growth is Qatar University – one of the fi nest educational institutions in the Middle Qatar (IQ) report a 62% year-on-year provement of sales volumes was par- proved notably compared to last year. largely attributable to a moderate im- East – as we strive towards identifying and developing local talents. surge in net profi t to QR3.8bn in Janu- tially due to higher polyethylene pro- The stability of crude oil prices provement in sales volumes due to the “At QBIC, we pride ourselves in being driven and determined to continu- ary-September this year, exceeding the duction, as the polyethylene facilities has supported both polyethylene and change of sales mix, marketing strategy ously work with local partners to contribute to the growth of the entrepre- group’s budget expectations for 2018. were on an extended unplanned shut- fuel additive prices to remain strong and increased selling prices, according neurial ecosystem in Qatar – a responsibility we all share.” The company – the holding entity of down during the fi rst nine months of throughout the current year, an IQ to the spokesman. She added: “Events like this provide the ideal networking environment for Qatar Petrochemicals, Qatar Fertiliser 2017 (specifi cally during the fi rst quar- spokesman said, adding fertiliser prices Strong liquidity position led the local startups seeking talent, investors searching for promising startups, and and Qatar Steel – has reported earn- ter of 2017). have shown a modest rise driven by a company’s total cash across the group promising talents wanting to be part of the next success story. The opportu- ings-per-share of QR6.32 at the end of Additionally, stable global demand tightening in global supplies, and a gen- to reach QR12.1bn and total debt of only nities are out there, and we’ll continue through special partnerships such as September 30, 2018. has aided the group’s fertiliser segment eral recovery in demand. QR0.2bn at the end of September 30, this one to help local entrepreneurs grasp them.” This improved performance in prof- to maintain its sales volumes, while the Steel prices continue to remain ro- 2018. CFE Business Incubator manager Juha Peralampi said the centre is intro- itability was driven by a combination sales of steel products improved due to bust with prices in the current year has Total assets were valued at QR35.97bn ducing two new features into the mix – Qatari partners and also small-scale of factors including increased product the change of geographical mix and the steadily risen. The increase in raw ma- comprising current assets of QR12.56bn investors (up to QR100,000) and matchmaking these groups with local and prices, a moderate growth in sales vol- steel marketing strategy. terials and other related costs, resur- and non-current assets of QR23.41bn at global startups. “One of our aims is to increase the business angels’ culture in umes, effi ciently managed operating Product prices across most segments gence of demand in some geographies the end of nine-month ended Septem- the wealthiest state in the world. The business angels’ network in this region assets base and the group’s continuous have moderately increased versus the were the key factors that contributed ber 30, 2018. is still being developed and so far not been fully tapped on,” Peralampi said. AZF, QFC join hands to attract multinationals to sports business MoU to see Qatar Financial able businesses and startups and many opportunities and sizeable Center and Aspire Zone facilitate the commercialisation potential for investments that Foundation collaborate of sports-related products and we wish to fully utilise through on setting up Qatar Sports services by off ering unique incen- this collaborative partnership,” Business District tives and service packages, which al-Jaida said. include QFC designated locations By attracting local and interna- in the SBD. tional businesses in sports, he With Doha’s sports sector ex- The move comes in the backdrop said QFC’s mandate continues to pected to reach $20bn by 2023, of Qatar’s sports sector expected focus on boosting foreign direct Aspire Zone Foundation (AZF) to reach $20bn by 2023. This investment (FDI) into the country, and Qatar Financial Center (QFC) growth comes as momentum thereby supporting its progress are together establishing Qatar continues to build in the lead up towards self-suff iciency. Sports Business District (QSBD) to the 2022 FIFA World Cup and The QFC – which is an onshore to attract large sports-related beyond, as the country outlines a business and financial centre, multinationals and promote sus- $200bn investment programme providing a platform for regulated tainable businesses to facilitate to develop world-class facilities and non-regulated firms to do the commercialisation of sports- and services. business in Qatar and in the Mid- related products and services. Although Doha’s sports business dle East and North Africa region – A memorandum of understand- development sector has seen a is eyeing to triple the assets (FDI) ing (MoU) was signed by Yousuf “significant” growth in the past to more than QR200bn. Mohamed al-Jaida, chief execu- few years, entrepreneurs and “The establishment of the new tive, QFC Authority and Mohamed investors are facing several chal- QSBD is another example of Khalifa al-Suwaidi, chief executive lenges to start-up development. AZF’s significant contribution to of AZF, to set up QSBD, which is This collaboration between AZF help diversify Qatar’s economy aimed at creating a premier sports and the QFC will orchestrate and transform the country into a business cluster in the country eff orts aimed at attracting large favourable business destination and the wider Middle East. sports-related multinational for multiple sports related indus- The MoU will see the QFC and AZF corporations and promote the tries. This collaboration with QFC collaborate on numerous initia- setup of sustainable businesses will see the creation of a sports tives aimed at developing and to facilitate the commercialisation business cluster, the first-of- promoting this industry, as well of sports-related products and its-kind in Qatar and the wider as an all-inclusive sports business services in Qatar. region, combining renowned district (SBD). Its goal is to attract “The estimated size of the global local and international brands large sports-related multination- sports industry surpassed the $1tn and under one roof,” according
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