Business MONDAY 1 FEBRUARY 2021 UK to apply for Trans-Pacific trade bloc membership Applying to be the first new country to join the CPTPP demonstrates our ambition to do business on the best terms with our friends and partners all over the world. Boris Johnson UK Prime Minister BUSINESS | 04 QSE 10,473.50 -71.04 (0.67%) FTSE 100 6,407.46 −118.69 (1.82%) DOW 29,957.56 −645.80 (2.11%) BRENT$55.09 (+0.04) QNB Group Ordinary General Assembly QNB among top meeting approves cash dividend of 45% 40 global banks THE PENINSULA — DOHA QNB Group, the largest financial by market cap institution in the Middle East and Africa, held its Ordinary General Assembly meeting SACHIN KUMAR the most valuable banking brand yesterday, during which it THE PENINSULA in the Middle East and Africa, approved the Group’s audited increasing its brand value to financial statements for the year Demonstrating resilience in a more than $6bn in The Banker’s ended 31 December 2020. The challenging environment, QNB Brand Finance Global 500 2020 Ordinary General Assembly Group achieved several mile- report. Its Brand Strength Index approved a proposal by the stones last year. QNB (BSI) increased to 82 out of 100, Board of Directors to distribute strengthend its position as one driven by its strong financial per- a cash dividend of 45 percent of the world’s top 40 banks in formance and growing interna- of the nominal share value terms of market capitalisation. tional footprint. (representing QR0.45 per “During 2020, QNB Group QNB Group Chief Executive share). demonstrated resilience in times Officer, Abdulla Mubarak Al Chairman of QNB Group’s of uncertainty, with a robust net Khalifa, stated in the report, Board of Directors, H E Ali profit of QR12bn and our oper- “Next year, we will continue to Shareef Al Emadi, discussed the ating income increased by 1 operate in a challenging envi- Chairman of QNB Group’s Board of Directors, H E Ali Shareef Al Emadi, during QNB Group’s Ordinary Group’s financial results of the percent to QR25.4bn. As a result, ronment. Nevertheless, we are General Assembly meeting. year ended December 31, 2020, QNB has been able to consolidate optimistic that we already and shared an action plan for meeting. For the year ended its position as one of the world’s entered a recovery path. the year 2021. QNB worked tirelessly to accommodate to the new reality. December 31, 2020 the Group top 40 banks in terms of market Although the COVID-19 pan- The Chairman stated, ‘’Due delivered a net profit of QR12bn. capitalisation, reaching demic has accelerated some to QNB’s leading position in We protected the bank from potential risks and service Total assets exceeded QR1 QR164.7bn,” Chairman of QNB ongoing trends in banking, we Qatar, given its leading market disruptions. At the same time, we assumed our market- trillion, up by 9 percent from Group's Board of Directors, H E will need to continue to adapt to share in the banking sector, the leading role by supporting our customers and communities last year. Ali Shareef Al Emadi said in QNB this 'new normal'. We remain Group played a vital role in the QNB Group’s presence Group’s Annual Report, released committed to our strategy to implementation of the govern- where we operate to overcome these challenges. through its subsidiaries and yesterday. become a leading MEASEA ment’s stimulus package to associate companies extends to With strong credit ratings bank." enhance economic activities H E Ali Shareef Al Emadi, more than 31 countries across from the major international "Our strategy is based on such as deferring some loan Chairman of QNB Group’s Board of Directors three continents providing a rating agencies such as Moody’s, positioning the bank for future payments and boosting con- comprehensive range of Standard & Poor’s and Fitch, growth opportunities by transi- cessional financing for small advanced products and services. QNB is the highest-rated bank tioning towards a more fee-rich and medium-sized The total number of employees in Qatar. This is a testament to model with higher margin busi- enterprises.” disruptions. At the same time, these challenges,’’ he added. is more than 28,000 serving 20 its capital strength, strategy, gov- nesses and focusing on two key “QNB worked tirelessly to we assumed our market- The Board of Directors million customers operating ernance, prudent risk man- pillars: protecting our market- accommodate to the new leading role by supporting our agreed upon the appointment through 1000 locations, with an agement, business and operating leading position in Qatar and reality. We protected the bank customers and communities of KPMG as External Auditors ATM network of more than model. continuing our international from potential risks and service where we operate to overcome for the year 2021, during the 4,300 machines. QNB was also recognised as growth," he added. Qatar’s PPI of Industrial Sector for December up by 8.1% QIC announces agreement for THE PENINSULA — DOHA Comparing with the index of its coun- terpart in the previous year (December Qatar’s overall monthly Producer Price 2019), the Manufacturing PPI of December investment into Index (PPI) of Industrial Sector for 2020 showed a decrease of 11.8 percent. December 2020 was estimated at 50.7 The major groups which explain this price Markerstudy points, showing an increase of 8.1 percent fall are: “Refined Petroleum products” by compared to the previous month’s PPI 16.2 percent, followed by “Basic chemicals” Group (November 2020), official data showed. by 11.7 percent, “Other chemical products When compared on an annual basis, the and fibers” by 6.9 percent, Cement and QNA — DOHA PPI of December 2020 showed a decrease Other non-metallic products” by 5.8 of 20.9 percent compared to the corre- percent, “Rubber and Plastics products” Qatar Insurance Company sponding month of 2019, data released by by 3.1 percent, and “Grain mill and Other (QIC) announced that it has the Planning and Statistics Authority (PSA) products” by 0.3 percent. However, prices reached an agreement for an show. increased were seen in “Basic Metals” by investment into Markerstudy Producer price index covers goods 12.9 percent, “Paper and Paper Products” Group led by Pollen Street relating to “Mining” (weight: 72.7 percent), by 6.4 percent, “Juices” by 5.6 percent, and Capital (Pollen Street). “Manufacturing” (weight: 26.8 percent), “Dairy products” by 0.1 percent. However The transaction will see and “Electricity & Water” (weight: 0.5 no change was noticed in “Beverages”. Pollen Street partner with and percent). 2019), there was a decrease of 25.2 percent. “Rubber and Plastics products” by 1.4 The PPI of Electricity and Water group make a substantial investment The PPI of December 2020 for Mining For the Manufacturing sector index, percent, “Juices” by 0.7 percent, “Grain mill showed an increase of 16.6 percent com- alongside the existing founder sector showed an increase by 9.4 percent an increase of 5.6 percent has been and Other products” by 0.5 percent, and pared to November 2020, resulting from team. QIC will also participate when compared with the PPI of November recorded in December 2020, when com- “Dairy products” by 0.3 percent. price increase in “Electricity” by 30.4 in the Transaction, underlining 2020, primarily due to the price increase pared with the previous month’s Manu- However, the decreasing prices are percent, and “Water” by 1.5 percent. When its commitment as a strategic of “Crude petroleum and natural gas” by facturing index (November 2020). The noticed in “Basic Metals” by 1.6 percent, compared the PPI of December 2020, to partner to Markerstudy Group 9.4 percent, and “Stone, Sand and Clay” increase prices were seen in: “Basic Chem- and “Beverages” by 0.9 percent. While no the PPI of December 2019 [Y-o-Y], also (The Group). increased by 0.8 percent. The PPI of icals” by 9.5 percent, followed by “Refined change was noticed in “Cement and Other showed an increase of 8.3 percent, affected The Group will use the December 2020, when compared with its Petroleum products” by 6.3 percent, non-metallic products”, and “Other by prices rise in “Water” by 8.5 percent, investment to deliver an counterpart in previous year (December “Paper and Paper products” by 2.3 percent, chemical products and fibers”. and “Electricity” by 8.2 percent. ambitious and sustainable growth program through a combination of organic and acquisition-led expansion and Uptick in Qatar’s real estate demand: KPMG build on its rapid devel- opment over the last 19 years, THE PENINSULA — DOHA increased inflow of white-col- Moreover, with Qatar opening its assembly plant of electric vehicles which culminated in the lared workforce, there can be a property market to foreigners at Ras Bu Fontas Free Zone. GWC acquisition of the Co-op’s With the regional ties coming positive upturn in the demand for and rewarding buyers with per- opened their latest logistics hub insurance underwriting back to normal, affirmation of the residential housing over the next manent residency, Qatar resi- spanning across 6,000sqm at Ras business in December 2020. COVID-19 vaccine and winning short to middle term, providing dential market will witness a Bu Fontas Free Zone. The investment will also facil- the bid to host Asian Games in a much-needed fillip to the sector. movement from a rental based Director for Strategy and Real itate the repayment of Mark- 2030, the market sentiments in Qatar is also experiencing real estate to a capital (sales) Estate Advisory at KPMG, Anurag erstudy’s debt to QIC.