3rd Best News Website in the Middle East BUSINESS | 17 SPORT | 35 UDC reports Sangakkara calls for QR608m net Test pay minimum to profit for 2017 stop T20 exodus Thursday 8 February 2018 | 22 Jumada 1 I 1439 www.thepeninsula.qa Volume 22 | Number 7431 | 2 Riyals 8 new schools to Qatar to promote ties with Ingushetia be opened in next academic year H H the Emir holds talks with the President of Russian THE PENINSULA Republic of Ingushetia. DOHA: The Ministry of The visiting President handed H H the Emir a written Education and Higher Education yesterday message from Russian President Vladimir Putin announced that eight new inviting H H the Emir to visit Russia. schools will be opened in the next academic year. Also, efforts are in QNA Ingushetia in wider fields and progress to fill vacancies in invited the Emir to visit the new schools and provide DOHA: Emir H H Sheikh Tamim Republic. The two sides also them with educational cadres bin Hamad Al Thani met the Pres- reviewed aspects of cooperation of expertise and competence. ident of the Russian Republic of between the two countries and The academic year will also Ingushetia Yunus-bek Yevkurov, means of enhancing them in a witness the opening of Qatar yesterday. number of fields, especially School of Science and Tech- At the beginning of the agriculture. nology on STEM system in meeting, the visiting President They exchanged views on a September. handed the Emir a written message number of regional and interna- The Qatar School of from Russian President Vladimir tional issues of common concern Science and Technology is a Putin, including an invitation to His and the latest developments in the secondary school for boys Highness to visit Russia. The Emir region. A number of their Excel- from the ninth to twelfth welcomed the President, hoping lences the Ministers attended the grades and its students were that the visit would further enhance meeting. Members of the official selected from preparatory bilateral relations. The Emir also delegation accompanying the Pres- schools’ eighth grade stu- welcomed the Russian President’s ident also attended the meeting. dents, who excelled in the invitation. Later, the Emir hosted a Emir H H Sheikh Tamim bin Hamad Al Thani met with the President of the Russian Republic of Ingushetia, subjects of science and The visiting President luncheon banquet in honour of the Yunus-bek Yevkurov, at the Emiri Diwan yesterday. The two sides reviewed aspects of cooperation mathematics. expressed hope that the visit will President and his accompanying between the two countries and means of enhancing them in a number of fields, especially agriculture. enhance ties between Qatar and delegation. → SEE ALSO PAGE 2 →CONTINUED ON PAGE 6 Real estate transactions increase QCB warns against SACHIN KUMAR yesterday. pipeline and not a result of the almost doubling the supply from Bitcoin trading THE PENINSULA “Qatar (real estate) market ongoing blockade,” said the 2014,” Archer told The has shown considerable resil- report. Peninsula. SATISH KANADY the country. DOHA: Showing resilience, the ience as compared to other The total hospitality The recent lifting of visa THE PENINSULA Bitcoin is very volatile and real estate transactions in Qatar markets in the region. For inventory is approaching restrictions to the Nationalities indulging in its transaction is very have increased during the last example, Abu Dhabi seeing res- 25,000 keys and whilst 70 of 80 countries has yet to filter DOHA: Qatar Central Bank risky, the circular said. The com- quarter of 2017 despite the idential rents fall by 13 percent percent of properties are 4 and down into any quantifiable (QCB) has issued a circular modity is subjected to electronic unjust siege imposed on the and Bahrain by 16.2 percent 5 star, there have been some impact on retail performance, warning against any form of hacking. There is no guaranty for country. during 2017,” he said, while new 3 star entries, including the however, DTZ believes that this trading or exchanging of its value as an asset class, the reg- The transaction volume has releasing a report on real estate Holiday Inn and Premiere Inn. will be very much dependent Bitcoin in the country. The ulator said.The central bank will shown an increase of 8 percent sector. A further 10,000 hotel on the country of origin of the circular sent to banks, a copy impose penalties in accordance and 12 percent in October and Prime residential rents have rooms and 2,000 serviced visitors. of which is available with The with the provisions of the Qatar November last year respectively softened by up to 10 percent apartments are at various stages “Expectation that measures Peninsula, noted that the banks Central Bank law and regulation compared to corresponding over the past 12-month period of planning and construction, taken to expand and diversify operating in the country are not of financial institutions issued by months in 2016. but the secondary market has the report stated. the economy will begin to take allowed to deal in any way or Law No. (13) for the year 2012 in “Total sales value in October shown more resilience over the Tawar Mall, Doha Mall, La hold, and increase real estate fashion with this currency. the event of any violation of this was QR6.52bn. This was the past year with Ezdan Oasis Gallaria and Katara Mall are demand,” said Archer. The virtual currency should circular. It’s not clear whether highest monthly total since July setting the benchmark in terms likely to open this year, added The impact of enabling visa not be used for opening bank the regulator’s warnings has 2015,” said Johny Archer, Asso- of newly built middle-income the report. on arrival / visa free access to accounts or making any other come in the wake of a brisk ciate Director, Consulting and apartments, noted the report. “Total organised retail Qatar for visitors from 80 coun- transactions for buying or ‘cryptocurrency trading’ busi- Research, DTZ Qatar, a real “Whilst there continues to supply in Qatar is almost 1.3 tries will be more quantifiable selling the virtual currency, the nesses going on unauthorised estate consultancy company, be a softening in the residential million square metre (sqm), dis- during 2018 as travellers are central bank circular said. It online trading platforms in while addressing a seminar and commercial rental market, tributed amongst the country’s able to incorporate Qatar in noted that the transactions of Qatar. organised at Hilton Hotel this has been driven by supply 20 principal shopping malls, their travel plans. Bitcoin has no legal tender in →CONTINUED ON PAGE 4 Kahramaa signs QR1.9bn contracts for power cables supply SANAULLAH ATAULLAH transformers, switchgears, pipes, International Cables Company He said that Qatar is self-suf- THE PENINSULA water pumps and other various (QICC) for two years at a total cost ficient in the production of equipment,” said Eng Essa bin of QR1.9bn, yesterday. Under the medium and low voltage cables DOHA: Qatar General Electricity Hilal Al Kuwari. He said that call-off agreement, the supplier adding that self-sufficiency in and Water Corporation electric sector is growing and will provide materials to Kah- high voltage cables is yet to be (Kahramaa) yesterday Kahramaa is trying to attract ramaa within two days of the achieved as local companies announced business opportu- more investors to invest in this order. The ceremony was have promised to bring the tech- nities worth about QR7bn to local field. attended by Eng Essa bin Hilal Al nology from next year for the companies for manufacturing “Kahramaa gives priority to Kuwari, Sheikh Faisal bin Qassim production of high voltage basic materials and equipment national products as per the pri- Al Thani, Chairman of Doha cables. required for infrastructure devel- ority rules and provides technical Cables, Sheikh Fahd bin Hamad “Many manufactures have opment projects during the next support to local factories to help Al Thani of QICC, and a number joined this business and soon we five years (2018- 2023), said them meet the standards of Kahramaa officials and will be covering 100 percent Kahramaa Chief. required from suppliers.” He said suppliers. requirements of all types of cables Eng Essa bin Hilal Al Kuwari, that Kahramaa is working to The value of the contract Kahramaa President Eng Essa bin Hilal Al Kuwari (centre), Sheikh in local market and we will be President of Kahramaa, was diversify its sources of importers Kahramaa signed with Doha Faisal bin Qassim Al Thani (right) and Sheikh Fahd bin Hamad Al looking for export the surplus speaking at a ceremony held and local suppliers to bring inno- Cables exceeds QR1.24bn while Thani during the ceremony. production,” Sheikh Faisal bin here to sign contracts with two vation in the economy and it the contract with QICC values Qassim Al Thani, Chairman of local companies - Doha Cables encourages local companies by QR640m. The total cost for the tender in August 2017, and providing electricity connection Doha Cables Company said. and Qatar International Cables giving them priorities as per the two contracts is QR1.88bn. The awarded in January 2018. The to the plots of land allotted to the “Kahramaa had made similar Company - for manufacturing state strategy to promote local total length of the cables is two companies were selected as citizens for housing purpose, contract with local companies for and supplying of electric cables sector. 10,000km. The agreements aim the best offers. new industrial areas and other supplying medium voltage cables for a stretch of 10,000 kilometre Kahramaa signed two call- at meeting Kahramaa’s needs of “The cables to be supplied projects,” said Al Kuwari.