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IBQ Brand Campaign Centres on Human Relations in Banking

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IBQ Brand Campaign Centres on Human Relations in Banking SHIPPING LOSS | Page 5 RATES STEADY | Page 15 Maersk Q3 net Fed sets the tumbles 44% stage for hike To advertise here to $429mn in December Call: Thursday, November 3, 2016 Safar 3, 1438 AH LOW OIL PRICES ENVIRONMENT: Page 16 Local debt market key GULF TIMES to Qatar infrastructure development, says BUSINESS Doha Bank CEO ‘Barwa Real Estate syndicating $250mn Islamic loan’ Barwa Real Estate is raising $250mn via comment. Barwa, 45% owned by Qatari an Islamic syndicated loan led by Standard Diar, which in turn is owned by the Qatari Chartered, banking sources said. Investment Authority, is the largest Qatari The loan, with a seven-year maturity and real estate company by developments. It off ering a price in the 250-300 basis point had a total asset capitalisation of QR66bn range over the London Interbank Off ered ($18bn) at the end last year, according Rate, was launched to syndication very to its website. The company last week recently, they said. The loan will refinance reported a 136.2% rise in third-quarter net existing debt, one banker said. profit to QR297.4mn, according to Reuters Barwa could not be reached for immediate calculations. Portugal doubles value of its exports to Qatar in H1 2016 By Peter Alagos “Portugal also exported some base met- The anniversary celebrations was highlighted by the awarding of tokens of appreciation to five of IBQ’s oldest customers. Business Reporter als and articles such as machinery, electric materials, and other products. On the other hand, topping the list of imports are plastics ortugal almost doubled the value of its and others, representing almost 97%. This exports to Qatar in the fi rst half of 2016 was followed by textiles and other prod- Pcompared to the same period last year ucts,” she said. amid “improving” trade relations between Citing Portugal’s technical and indus- the two countries, according to an offi cial. trial base, Bouabdellah said the country Arab-Portugal Chamber of Commerce also specialises in classic industries, textile, IBQ brand campaign secretary general and CEO Dr Aida Bouab- shoes, glass, construction materials, food dellah said from January to June, Portu- stuff , health sector and others. She also gal’s total exports to Qatar amounted to noted that Portugal exports €1bn worth of €15.6mn, while imports stood at €7.2mn. shoes per year. “We have very good relations with Qa- She noted that there are also several tar. Our trade balance has been improving high-level institutions and companies throughout the years,” Bouabdellah told from countries such as Europe, the US, Ja- centres on human Gulf Times on the sidelines of a meeting pan, and China that are investing in Por- held with Qatar Chamber offi cials in Doha tugal. yesterday. Qatar Chamber board member Ali Ab- She said in 2015, Portugal’s exports to dullatif al-Misnad said, “I think there is a Qatar amounted to around €17.7mn com- common ground between Qatar and Portu- pared with around €19mn in 2014. gal...It is important that we learn from each “Portugal imported from Qatar around other and that both countries keep the trade relations in banking €19.1mn worth of products in 2015 com- balance at a level that we wish to increase pared with €16.9mn in 2014, said Bouab- more and more so, we have to see the best nternational Bank of Qatar (IBQ) has man Sheikh Sultan bin Jassim bin Mo- dellah, who accompanied seven Portuguese way to encourage that.” launched a new brand campaign that hamed al-Thani and Bouhadiba. companies during the meeting. Daniel Pontes, economic and commercial Iplaces customer service and client “We are extremely proud of being a She said the top products exported by attache at the Portuguese Embassy in Doha, relationships as well as stakeholder en- pioneer in the banking industry for 60 Portugal to Qatar in in 2015 were stone and said there are 10 major Portuguese com- gagement at the core of its banking op- years now, making history at a time of plaster, cement, and ceramic, representing panies operating in Qatar in the engineer- erations. rapid growth and increasing sophisti- around 20% of the total exports. Trailing ing, architecture, construction, marketing, Launched during IBQ’s 60th anniver- cation in the region’s capital markets,” behind was textiles, followed by goods and interior design, technology, and property sary held on Tuesday, the new campaign Bouhadiba said. other products, she also said. management sectors. emphasises the signifi cance of human He added, “In line with the Qatar Na- relations in the banking sector through tional Vision 2030, we at IBQ, fully em- its new brand promise: ‘Making Banking brace the opportunities off ered by the More Personal’. Qatari market as we continue to off er a IBQ managing director Omar Bouhad- solid platform for the country’s market iba said, “Today, as we draw on 60 years players to grow.” of expertise and knowledge of personal The celebration was attended by IBQ relationship banking, we celebrate a ma- customers, investors, employees, and jor milestone in the bank’s history with other guests. The gala dinner also fea- our loyal customers, dedicated employ- tured a documentary showcasing the ees, faithful partners, and dear friends. bank’s history and legacy. We aim to continue to play our role in the Founded in 1956 as the Ottoman Bank, development of Qatar for the generations IBQ is one of the oldest banks in Qatar, to come.” off ering personal banking services to One of the highlights of the anniver- Qatari families and investors. Over the sary celebrations was the awarding of last decades, the bank went through a tokens of appreciation to fi ve of IBQ’s journey of changes in shareholdings and oldest customers in recognition of their rebranding. The bank was renamed In- longstanding loyalty and trust towards ternational Bank of Qatar in 2004 and is Bouhadiba delivers a speech during the event celebrating the bank over the years. The souvenirs now 100% Qatari with a very solid out- IBQ’s 60th anniversary. were awarded by the bank’s vice chair- look. Bouabdellah (centre) during a meeting held yesterday at the Qatar Chamber headquarters. Tata empire split in two as Mistry stays chairman of units Ousted Tata Sons chairman Cyrus Mistry that was seen by Bloomberg News. Since then both said in a telephone interview. “There is a possibility continues to head units; Tata Motors, Tata sides have issued a volley of acrimonious public of a long-drawn boardroom as well as courtroom Power say Mistry is still chairman statements, slamming the other side. battle.” Tata Sons said on October 27 that Mistry’s leaked e- While Tata Sons typically owns around 25% to 30% Bloomberg mail “makes unsubstantiated claims and malicious of the stock in the group’s major units, it probably Mumbai allegations” and that records to disprove them will has enough persuasive power to get other minority be disclosed to “appropriate forums, if and when shareholders to side with them, said Shriram Subra- necessary.” manian, founder of proxy- advisory firm InGovern Ratan Tata replaced Cyrus Mistry atop the holding A release from Mistry’s off ice on Tuesday accused Research Services. company of India’s biggest conglomerate in a sin- Tata’s side of making insinuations that were “false” Mistry is also chairman of software services firm gle board meeting. Evicting Mistry from the boards and “mischievous.” Tata Consultancy Services Ltd, the most valuable of about a dozen companies in the group won’t be “It is not likely to be very easy to find a solution,” asset in the group, but Tata Sons holds 73% of that so easy. said Hyderabad-based Kavil Ramachandran, execu- unit. A week after the coup at Tata Sons Ltd, Mistry is still tive director of the Thomas Schmidheiny Centre for Under Section 169 of India’s Companies Act, Tata chairman and non-executive director of Tata Mo- Family Enterprise at the Indian School of Business. Sons, as a shareholder, can propose a resolution to tors Ltd, owner of Jaguar Land Rover; Tata Power The company would do better to temper emotions remove Mistry as a director, he said. The board then Ltd and Indian Hotels Co, which runs the Pierre in with the help of an outsider, possibly a respected puts the resolution up for vote to all shareholders New York, the companies said in stock exchange fil- member of the Parsi community to which both after giving the director an opportunity to be heard. ings on Tuesday. Tata Sons doesn’t hold a majority Ratan Tata and Mistry belong, he said. In the event, he refuses to do so, the board can vote of the stock in those and other group units, making With Mistry giving no indication as yet whether he for his removal. the task of evicting Mistry more diff icult. intends to resign from the individual boards, inves- But Tata doesn’t need to strip Mistry of his direc- The directors of key listed companies are likely to bined market value of about $120bn. market value. tors are bracing for confusion due to the new struc- torship to stop him running the individual units. meet in the next fortnight to discuss earnings for “The long drawn-out battle will slowly and gradu- Debasis Ray, a spokesman for Tata Sons, did not im- ture, said Mahendra Patil, a managing partner at Instead, it can persuade the board to vote for his the July-September quarter, giving investors an ally erode the ‘Tata premium’ that group companies mediately respond to an e-mail seeking comment.
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