QAMCO Gets Nod for Inclusion Into FTSE EM Index, Jumps
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Doha Festival City appoints Robert W Hall www.facebook.com/QatarTribune as new GM www.youtube.com/QatarTribuneChannel PAGE 14 www.twitter.com/Qatar_Tribune THURSDAY, DECEMBER 20, 2018 DOW23,636.00 QE 10,496.40 SENSEX 36,484.33 GOLD 1,249.50 US, China spar over trade crisis at -39.64 PTS +7.36 PTS +137.25 PTS -0.33% World Trade Organisation PAGE 16 PRICE PERCENTAGE PRICE PERCENTAGE 14.73 BRENT 57.28 +1.81% WTI 47.96 +3.72% SILVER +0.20% QAMCO gets nod for inclusion QPC extends maintenance into FTSE EM Index, jumps 10% contract with The company accounted for more than 65 percent of total QSE trade volume on Wednesday Siemens for SATYENDRA PATHAK DOHA QR400 million FTSE Russell on Wednesday announced that it has ap- proved fast entry of Qatar QNA Aluminium Manufacturing DOHA Company (Qamco) as a new constituent in FTSE All- QATAR Power Company World Index, FTSE Global (QPC) has signed QR400 mil- Mid Cap Index and FTSE lion deal to extend its long- Emerging Index. term maintenance contract “Following the listing of with Siemens German com- Qamco on December 16, the pany, for another 15 years, scrip has been fast-tracked the companies announced in for its inclusion in the FTSE a statement on Wednesday. Global Equity Index Series in The contract was signed accordance with FTSE Global by Qatar Power Executive Equity Series,” FTSE Russell Managing Director Fawaz Ab- said in a release posted by dulaziz al Baker and CEO of Qatar Stock Exchange (QSE) Siemens Qatar Adrian Wood. on its website. The signing ceremony Fahad bin Hamad al Mohannadi The change will be effective was attended by Managing from December 24 when the Director and Member of the “This confirms the robust- QSE will open for next week’s Board at Qatar Electricity ness of the Qatari market and trading on Sunday, it said. and Water Company (QEWC) the desire of foreign compa- Buoyed by inclusion in Fahad bin Hamad al Mohan- nies to continue operating in FTSE EM index, the share nadi, who is also Chairman it, stressing that the main- price of Qamco jumped its of Qatar Power Company, in tenance work in the stations day limit of 10 percent to addition to members of the operating in the country is QR13.64 at on Wednesday. board and Senior Executive not affected, especially under Attracting huge trade vol- The Qatar Stock Exchange building in Doha. Vice President of Siemens the current circumstances,” ume for the third session in Power Generation Services Fahad said. row, Qamco accounted for around $132 million, includ- as it has been observed in the million in 2016 and $63.5 in the Middle East and North more than 65 percent of to- ing $89 million in its first past,” QNBFS said. million in 2017) coupled Africa, Gianluigi Di Giovanni. tal trade volume on QSE on day. Strong financials backed with strong EBITDA margins Fahad said Umm Al Houl Strong ties Wednesday. As expected, QNBFS said, Strong financials backed by by low leverage and high which are nearly double of power station currently op- According to QNB Fi- the stock has reacted posi- low leverage and high EBITDA margins will also that of its international peers, erates at its full capacity and O Siemens operates 40 nancial Services (QNBFS), tively to the FTSE confirma- EBITDA margins will also help Qamco in attracting for- will result in strong cash will open in February 2019. percent of the power plants Qamco is expected to attract tion with active investors and help Qamco in attracting eign funds, it said. generation for Qatalum and He said QEWC is under- supervised by QEWC around $25 million in passive traders positioning them- foreign funds, QNBFS said “As of 2018 first half, hence Qamco,” it said. going two activities within foreign flows related to the selves ahead of the expected Qatalum’s total net debt was Meanwhile, the QSE the solar energy sector, the O Siemens has a strong FTSE inclusion. inflows. $1.37 billion, accounting for gained 7.36 points before first will kick off at the begin- and successful track record Since its listing on De- “However, we do note months for the passive track- 54 percent of the company’s closing trading at 10,496 ning of 2019, and by the end and has been in contact cember 16, Qamco has traded that it may take a couple of ers to adjust their positions, share capital. Low capex ($85 points on on Wednesday. of 2020 the first solar energy with the Qatar for more station will operate with a ca- than 35 years pacity of 350 megawatts. “The second will include a second station of 250 mega- Fed raises watt capacity, resulting in a Siemens Qatar CEO Wood Woqod opens Markhiya fuel station total of 700 megawatts by said the contract signing re- interest rate mid-2021.” affirms the trust that the ad- TRIBUNE NEWS NETWORK Fahad said all projects vanced Siemens technologies to 2.25-2.5% DOHA at QEWC are always offered is able to support Qatar in its through tenders, and there are long term plans to provide REUTERS WOQOD (Qatar Fuel) has about 16 companies that have reliable electricity, economic WASHINGTON opened a new fuel station been qualified to enter pro- feasibility and sustainability in Hazm Al Markhiya on jects related to solar energy. for homes and factories. THE US Federal Reserve raised Wednesday, raising its net- The companies will com- He added that through interest rates on Wednesday, work of petrol stations to 81. pete for a 25- year electric- working closely with partners as expected, but forecast Woqod CEO Saad Rashid ity purchase contract and such as the French company, fewer rate hikes next year and al Muhannadi, said, “Woqod long-term contracts will be ENGIE, Siemens is leading signaled its tightening cycle is aspires to expand its petrol sta- awarded to companies of- the digital transformation nearing an end in the face of tion network in the country to fering competitive prices, he in the energy sector in Qatar financial market volatility and meet the rising demand for pe- said. through the implementing slowing global growth. troleum products and achieve “The foreign investment projects that establish new The central bank said the the goal of providing custom- opportunities are good and standards in efficiency and US economy has been grow- ers with access to best-in-class Nebras Power is working well innovation. ing at a strong rate and the job products and services at their in this regard, and will repre- Qatar Power Executive market has continued to im- convenience and comfort. sent by the end of this year 17 Managing Director Fawaz prove. It noted that “some” fur- “Woqod has recently accel- percent of profits of QEWC,” Abdulaziz Al Baker said Sie- ther gradual rate hikes would erated the process for the con- he said. mens’ advanced technologies be needed, a subtle change that struction of new petrol stations Hazm Al Markhiya petrol station offers round-the-clock services to the residents. Siemens operates 40 per- will enhance station perfor- suggested it was preparing to to meet the fuel and energy cent of the power plants su- mance and thus saves future stop raising borrowing costs. needs of the country.” The new petrol station of- light vehicles. six stations in the bidding pervised by QEWC, Fahad maintenance costs. In a statement issued after Hazm Al Markhiya petrol fers round-the-clock services Muhannadi said Woqod is phase and 26 stations in the noted. Ambassador of Germany the end of its last policy meet- station is spread over an area to the residents, and include currently overseeing the im- design phase. He said Siemens has a to Qatar HE Hans-Udo Mu- ing of the year, the Fed said of 5,000 square metres and has Sidra convenience store, man- plementation of 16 new petrol “As part of its strategic ex- strong and successful track zel said the contract is a proof risks to the economy were three lanes with nine dispensers ual car wash, and LPG cylinder stations, most of these stations pansion plan, Woqod is target- record and has been in con- to the significance of the ser- “roughly balanced” but that it that will serve Hazm Al Markhi- sales, in addition to sale of gas- are expected to be operational ing to complete 130 fuel sta- tact with the Qatar for more vices provided by Siemens would “continue to monitor ya and its neighbourhood. oline and diesel products for in 2019, noting that there are tions by the end of 2020”. than 35 years. Qatar. global economic and financial developments and assess their implications for the economic outlook.” The rate hike, the fourth of 2018, lifted the target range for the Fed’s benchmark overnight QC hosts banking and investment committee meeting lending rate by a quarter of a percentage point to a range of 2.25 percent to 2.50 percent. to match the status of Qatar The decision to raise bor- The meeting is aimed at identifying regionally and globally. rowing costs again is likely to Haidar said the commit- anger US President Donald obstacles and challenges facing the tee will work to overcome Trump, who has repeatedly investment sector in Qatar obstacles facing the imple- attacked the central bank’s mentation of the policies and tightening this year as damag- QNA projects on industrial lands, in strategic plans set by the gov- ing to the economy. The Fed DOHA addition to the role of banks in ernment, in a balanced man- has been raising rates to reduce financing small, medium and ner that takes into account the the boost that monetary policy QATAR Chamber on Wednes- emerging enterprises.