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Ahead of the US Federal Reserve chair Jerome Powell's testimony before Congress, the Qatar Stock Exchange (QSE) on Tuesday witnessed violent gyrations for most part of the trading session to finally wind up nine points higher.A higher than average demand in the insurance, real estate and transport sectors was visible as the 20-stock Qatar Index settled about nine points or 0.09% higher at 10,165.76 points. The market had seen an intraday low of 10,146 points.The foreign institutions were seen increasingly net buyers in the main market, whose year-to-date losses truncated further to 6.14%.The local retail investors’ weakened net selling pressure had its influence in the main bourse, whose capitalisation added QR1.14bn or 0.19% to QR586.96bn on the back of microcap segments.The Gulf institutions’ lower net profit booking had its say in the main market, which saw 7,928 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn trade across five deals.The foreign individuals’ weakened net selling played its part in lifting the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen outperforming the main barometer in the main bourse, whose trade turnover and volumes were on the decline.The Total Return Index was up 0.09%, the All Share Index by 0.13% and the All Islamic Index by 0.12% in the main market.The insurance sector index gained 0.88%, realty (0.42%), transport (0.21%), banks and financial services (0.18%), telecom (0.09%) and industrials (0.02%); while consumer goods and services declined 0.51%.Major gainers in the main bourse included Ahlibank Qatar, Qatar General Insurance and Reinsurance, Qatar Insurance, Mannai Corporation, Gulf Warehousing, Industries Qatar, Barwa, Mazaya Qatar and Ooredoo.Nevertheless, Inma Holding, Mekdam Holding, Commercial Bank, Qatar Industrial Manufacturing, Widam Food, Al Khaleej Takaful and Vodafone Qatar were among the losers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.The foreign institutions’ net buying increased substantially to QR18.56mn compared to QR5.53mn on July 8.The Qatari individual investors’ net selling fell noticeably to QR22.92mn against QR27.69mn the previous day.The Gulf institutions’ net profit booking weakened perceptibly to QR9.86mn compared to QR14.33mn on Monday.The foreign individual investors’ net selling shrank markedly to QR0.84mn against QR2.98mn on July 8.However, the Arab retail investors’ net selling expanded notably to QR3.34mn compared to QR2mn the previous day.The Gulf individual investors’ net profit booking increased notably to QR1.44mn against QR0.24mn on Monday.The domestic institutions’ net buying weakened drastically to QR19.86mn compared to QR41.72mn on July 8.The Arab institutions had no major net exposure against net sellers to the tune of QR0.09mn the previous day.Trade volumes in the main market narrowed 27% to 111.65mn shares, value by 21% to QR365.37mn and transactions by 1% to 14,301.The venture market saw 57% surge in trade volumes to 1.05mn equities and 44% in value to QR2.27mn but on 2% fall in deals to 146.

The Green Up project, undertaken by Veolia Qatar, has transformed Doha's landscape, making the country greener with a "significant embellishment" of the urban environment, according to a top official of the French environmental services company."A noticeable increase in biodiversity has been observed, and the environmental forest that we maintain at the Doha North Plant is its emblematic representation," Laurent Gestin, chief executive officer, Veolia Qatar told Gulf Times in an interview.He said the more than 90,000 trees it represents (28 species planted on 750 hectares) have become a sanctuary where natural life has resumed its rightful place, welcoming more than 30 different species of birds each year, many of which are migratory.The sustainable solutions, which are deployed every day in Qatar, are directly contributing to the circular economy, he said, highlighting its 10-year framework agreement signed in 2020 between Veolia and the public works authority (Ashghal).On the agreement, he said this (Green Up) project aligns with the desire and ambition of Qataris for increased sobriety and frugality, as Veolia's ongoing efforts in energy efficiency and operational excellence have already allowed for substantial reductions in the carbon footprint.Veolia's sanitation services, available 24/7, allow for the complete depollution and regeneration of valuable water resources (99.7% of the municipal wastewater) and avoid the very significant greenhouse gas (GHG) emissions that would have been generated if the same volumes of water had been produced by desalination of seawater, he said."This project has already profoundly transformed the landscape of Qatar, making the emirate greener with a significant embellishment of the urban environment," he added.On solid waste management, Gestin said it aims to accelerate the development of alternative energy sources, and thus, the production of low-carbon local energy, through the capture and recovery of biogas from landfills, and the conversion of municipal and hazardous waste into energy resources."In a virtuous circular waste economy, it is possible to consider the conversion of municipal and hazardous waste into energy resources; generally steam for local industrial use and electricity to power the national electricity grid," he said.Qatar has already deployed impressive photovoltaic projects but the further development of additional alternative energy sources would definitely position the country among the pioneering countries mobilised against climate change, according to him.

The Qatar Stock Exchange on Monday gained about 34 points on buying interests, especially at the telecom, realty and banking counters.The domestic funds were increasingly net buyers as the 20-stock Qatar Index rose 0.33% to 10,156.86 points, recovering from an intraday low of 10,100 points.The foreign institutions turned bullish in the main market, whose year-to-date losses truncated further to 6.22%.As much as 54% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.67bn or 0.29% to QR585.82bn on the back of small cap segments.The Arab retail investors’ weakened net profit booking had its influence on the main market, which saw 9,102 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn trade across seven deals.The Gulf individuals’ lower net selling had its say in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover and volumes were on the rise.The Total Return Index gained 0.33%, the All Share Index by 0.3% and the All Islamic Index by 0.36% in the main market.The telecom sector index shot up 0.98%, realty (0.76%), banks and financial services (0.43%), consumer goods and services (0.14%) and industrials (0.05%); while insurance declined 0.26% and transport was flat.Major gainers in the main bourse included Vodafone Qatar, QIIB, Mannai Corporation, Nakilat, Qatar Industrial Manufacturing and Industries Qatar. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Inma Holding, Milaha, Gulf International Services, Dlala and Ahlibank Qatar were among the losers in the main market.In the junior bourse, Techno Q saw its shares depreciate in value.The domestic institutions’ net buying increased drastically to QR41.72mn compared to QR13.72mn on July 7.The foreign institutions turned net buyers to the tune of QR5.53mn against net profit takers of QR9.03mn the previous day.The Arab individual investors’ net selling declined perceptibly to QR2mn compared to QR3.77mn on Sunday.The Gulf retail investors’ net profit booking weakened markedly to QR0.24mn against QR1.58mn on July 7.The Arab institutions’ net selling eased marginally to QR0.09mn compared to QR0.13mn the previous day.However, the Qatari individual investors’ net selling grew substantially to QR27.69mn against QR10.04mn on Sunday.The Gulf institutions were net sellers to the tune of QR14.33mn compared with net buyers of QR8.41mn on July 7.The foreign retail investors turned net sellers to the extent of QR2.98mn against net buyers of QR2.41mn the previous day.Trade volumes in the main market expanded 7% to 153.03mn shares, value by 50% to QR460.15mn and transactions by 42% to 14,420.The venture market saw 73% plunge in trade volumes to 0.67mn equities, 66% in value to QR1.58mn and 35% in deals to 149.

The Qatar Stock Exchange (QSE) yesterday opened the week on a stronger note with its key index gaining 50 points to surpass 10,100 levels.The telecom, real estate, consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.5% to 10,128.05 points, although it touched an intraday high of 10,134 points.The Gulf institutions were seen net buyers in the main market, whose year-to-date losses truncated to 6.53%.As much as 70% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR3.07bn or 0.53% to QR584.15bn on the back of mid and small cap segments.The local retail investors’ weakened net profit booking had its influence in the main market, which saw 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.07mn trade across 12 deals.The domestic funds continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover fell amidst higher volumes.The Total Return Index gained 0.5%, the All Share Index by 0.51% and the All Islamic Index by 0.83% in the main market.The telecom sector index shot up 1.41%, realty (1.01%), consumer goods and services (0.82%), industrials (0.57%), banks and financial services (0.45%) and insurance (0.31%); while transport fell 0.17%.Major gainers in the main bourse included Qatar National Cement, Mazaya Qatar, Mesaieed Petrochemical Holding, United Development Company, Medicare Group, Masraf Al Rayan, Woqod, Aamal Company, Qatari Investors Group, Qamco, QLM, Ezdan, Ooredoo and Vodafone Qatar. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Inma Holding, Estithmar Holding, Doha Insurance and Mannai Corporation were among the losers in the main market. In the junior bourse, Techno Q saw its shares depreciate in value.The Gulf institutions turned net buyers to the tune of QR8.41mn compared with net sellers of QR19.79mn on July 4.The foreign institutions’ net selling declined significantly to QR9.03mn against QR18.39mn the previous trading day.The Qatari individual investors’ net selling shrank substantially to QR10.04mn compared to QR23.51mn last Thursday.However, the Arab individuals were net sellers to the extent of QR3.77mn against net buyers of QR3.71mn on July 4.The Gulf retail investors’ net profit booking grew perceptibly to QR1.58mn compared to QR0.5mn the previous day.The Arab institutions turned net sellers to the tune of QR0.13mn against no major net exposure last Thursday.The domestic institutions’ net buying decreased drastically to QR13.72mn compared to QR42.19mn on July 4.The foreign retail investors’ net buying weakened markedly to QR2.41mn against QR16.29mn the previous trading day.Trade volumes in the main market shot up 11% to 143.67mn shares, whereas value plummeted 28% to QR305.87mn and transactions by 19% to 10,137.In the venture market, trade volumes more than quadrupled to 2.46mn equities and value almost quadrupled to QR4.58mn on almost doubled deals to 228.

Strengthening global oil prices and expectations on early cut in interest rates by the US Federal Reserve had their reflection in the regional bourses, including the Qatar Stock Exchange (QSE), which closed this week on a higher note.The banking and industrials counters experienced higher than average demand as the 20-stock Qatar Index shot up 1.12% this week which saw QNB and QIIB outline their strategies to offer semi-annual dividend to shareholders.The domestic institutions were seen increasingly into net buying in the main bourse this week which saw Kamal Naji, chief economist of Qatar Financial Centre, view that Doha’s gross domestic product is projected to grow at 2% in 2024, with near-term outlook slated to remain stable.The semi-annual dividend policy of companies in which QatarEnergy is a shareholder and the announcement of QNB and QIIB as well as expectations on other entities to follow suit have had positive impact on the market this week.The foreign individuals turned net buyers in the main market this week which saw a global credit rating agency Standard and Poor’s report that found QNB and Qatar Islamic Bank have seen their market capitalisation expand 2.7% and 1.4% respectively in the second quarter of 2024 against that in the first quarter of same year.The Gulf institutions’ weakened net profit booking had its influence in the main bourse this week which saw Qatar's ports achieve the second-highest monthly container handling rate in June 2024, with over 144 000 TEUs (twenty-foot equivalent units), registering a 51% jump over the same period last year.The local retail investors’ lower net selling had its say in the main market this week which saw the Qatar Financial Centre’s purchasing managers’ index that said Doha's non-energy economy signalled demand strengthening this June as it registered sharpest growth in nearly two years.The local individuals’ declining bearish grip played its part in the main bourse this week which saw Qatar's producers' price index, which measures the average changes in prices received by domestic producers for their output, rose 2.24% year-on-year this May.However, the foreign funds were seen net profit takers in the main market this week which saw a total of 0.4mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.84mn trade across 66 deals.The Gulf individual investors were increasingly net sellers in the main bourse which saw as many as 0.06mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.53mn change hands across 44 transactions.The Islamic index was seen gaining slower than the other indices in the main market this week which saw the banks and industrials sectors together constitute about 59% of the total trade volumes.Market capitalisation shot up QR6.05bn or 1.05% to QR581.08bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds.Trade turnover and volumes were on the decline in the main market this week which saw no trading of treasury bills.In the case of venture market, trade turnover and volumes were seen expanding this week, which saw Edaa amends the foreign ownership limit in Aamal Company to 100% of the capital.The Total Return Index zoomed 1.12%, the All Share Index by 1.12% and the All Islamic Index by 0.93% this week which saw Fitch affirm the credit rating of Qatar Islamic Bank at 'A' with a "stable" outlook.The banks and financial services sector index soared 1.76%, industrials (1.68%) and consumer goods and services (0.9%); while transport declined 1.47%, real estate (0.65%), telecom (0.3%) and insurance (0.25%) this week.Major gainers in the main market included Widam Food, Zad, QIIB, Inma Holding, Qatar Islamic Bank, QNB, Mannai Corporation, Baladna, Mekdam Holding, Al Faleh Educational Holding, Qatar National Cement, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar General Insurance and Reinsurance and Al Khaleej Takaful. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week.Nevertheless, Qatar Cinema and Film Distribution, Mazaya Qatar, Qatari German Medical Devices, Qatar Oman Investment, Milaha, Masraf Al Rayan, QLM and Nakilat were among the shakers in the main bourse this week.The domestic funds’ net buying increased perceptibly to QR161.81mn compared to QR158.93mn the week ended June 27.The foreign individuals turned net buyers to the tune of QR11.84mn against net sellers of QR12.89mn the previous week.The Gulf institutions’ net profit boking declined substantially to QR62.37mn compared to QR99.65mn a week ago.The local individuals’ net selling weakened considerably to QR72.61mn against QR85mn the week ended June 27.The Arab retail investors’ net selling eased noticeably to QR5.76mn compared to QR7.76mn the previous week.However, the foreign institutions were net sellers to the extent of QR29.09mn against net buyers of QR46.86mn a week ago.The Gulf individuals’ net profit booking grew markedly to QR3.49mn compared to QR0.29mn the week ended June 27.The Arab institutions’ net selling expanded marginally to QR0.34mn against QR0.18mn the previous week.The main market witnessed 10% slump in trade volumes to 608.89mn shares, 14% in value to QR1.88bn and 10% in deals to 69,348 this week.In the venture market, trade volumes almost quadrupled to 11.38mn equities and value surged 67% to QR17.78mn, while transactions shrank 58% to 298.

The Qatar Stock Exchange yesterday gained more than 20 points on the back of buying interests, especially in the industrials, insurance and banking counters.The domestic institutions were seen increasingly into net buying as the 20-stock Qatar Index rose 0.2% to 10,073.18 points, recovering from an intraday low of 10,086 points.The foreign retail investors turned net bullish in the main market, whose year-to-date losses truncated to 6.99%.The Arab individuals were also seen net buyers in the main bourse, whose capitalisation added QR1.07bn or 0.18% to QR581.08bn on the back of microcap segments.However, the local retail investors were increasingly net sellers in the main market, which saw 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.23mn trade across 24 deals.The Gulf institutions were increasingly net profit takers in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen gaining faster than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index gained 0.2%, the All Share Index by 0.2% and the All Islamic Index by 0.39% in the main market.The industrials sector index rose 0.47%, insurance (0.29%), banks and financial services (0.26%), consumer goods and services (0.18%) and telecom (0.06%); while transport declined 0.53% and real estate 0.25%.Major gainers in the main bourse included Widam Food, Zad Holding, Baladna, Qatar General Insurance and Reinsurance, Mesaieed Petrochemical Holding, QIIB, Qatar Electricity and Water, Qamco, Doha Insurance and Al Khaleej Takaful.In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Inma Holding, Mannai Corporation, Mazaya Qatar, Woqod and Al Meera were among the losers in the main market.In the junior bourse, Techno Q saw its shares depreciate in value.The domestic institutions’ net buying expanded significantly to QR42.19mn compared to QR18.57mn on July 3.The foreign retail investors turned net buyers to the tune of QR16.29mn against net sellers of QR0.25mn on Wednesday.The Arab individuals were net buyers to the extent of QR3.71mn compared with net sellers of QR5.25mn the previous day.However, the Qatari individual investors’ net selling strengthened substantially to QR23.51mn against QR7.36mn on July 3.The Gulf institutions’ net profit booking increased noticeably to QR19.79mn compared to QR6.51mn on Wednesday.The foreign institutions turned net sellers to the tune of QR18.39mn against net buyers of QR1.22mn the previous day.The Gulf individual investors’ net profit booking grew marginally to QR0.5mn compared to QR0.43mn on July 3.The Arab institutions had no major net exposure for the second straight session.Trade volumes in the main market shot up 23% to 129.42mn shares and value by 22% to QR427.67mn, while transactions were down 15% to 12,515.In the venture market, trade volumes doubled to 0.58mn equities and value more than doubled to QR1.15mn on more than tripled deals to 118.

The Qatar Financial Centre Regulatory Authority (QFCRA) is proposing amendments to the Governance and Controlled Functions Rules 2020 (CTRL).Seeking public comments on the proposed Governance and Controlled Functions (Amendment) Rules 2024, the QFCRA said the proposals support its commitment to the maintenance of high international regulatory standards for financial services, and the continued development of the QFC as a leading financial and business centre in the Middle East.The public comments can be made until July 29.The amendments particularly pertains to Category B firm establishing one or more board committees; and requires Category A firms (and other firms at the QFCRA's discretion) to ensure material outsourcing arrangements include the right of the QFCRA to conduct onsite visits of the service provider.Under CTRL, banks and insurers that are incorporated under the QFC Companies Regulations are Category A firms; all other firms incorporated in the QFC are deemed to be Category B.Category A firms are required to meet additional governance requirements, including the board’s size and composition, as well as mandated board committees.While the QFCRA has the discretion to direct a Category B firm to meet higher governance standards in relation to the board’s size and composition, this does not extend to board committees."The QFCRA therefore proposes to have the discretion to direct a Category B firm to establish one or more of the mandatory Category A board committees," the draft said.The amendments require Category A firms to include the right of the QFCRA to conduct on-site visits to service providers in any material outsourcing arrangement they enter into, in recognition of their heightened prudential risks; and have the discretion to require this right be included in any material outsourcing arrangement entered into by a Category B firm."This would be assessed on a case-by-case basis and would only be required where the arrangement gives rise to heightened supervisory risks," it said.This assessment would normally occur during the 30-business day notification period that firms must provide the QFCRA prior to amending or entering into an arrangement, although the QFCRA may, if it thought it is necessary or appropriate to do so, give the direction at a later time.To avoid disrupting current arrangements, material outsourcing arrangements in force at the time the new rules commence will be required to ensure on-site visitation rights for the QFCRA are included no later than 12 months from commencement.

Doha's non-energy economy signalled demand strengthening in June as it registered sharpest growth in nearly two years, according to the Qatar Financial Centre's (QFC) purchasing managers index (PMI).The output increased at the fastest rate for a year-and-a-half with accelerating new businesses, while companies continued to expand employment and the 12-month outlook remained "strong", according to the PMI, which is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.The latest PMI survey data from the QFC compiled by S&P Global said inflationary pressures remained muted, with input prices up only slightly since May and prices charged for goods and services falling."Growth has now accelerated five times in the first half (H1) of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023. Moreover, the latest results point to a more broad-based upturn as manufacturing and construction have caught up with the services, wholesale and retail sectors," said Yousuf Mohamed al-Jaida, QFC Authority chief executive officer.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies, which span manufacturing, construction, wholesale, retail, and services sectors and reflect the structure of the non-energy economy according to official national accounts data.The PMI registered 55.9 in June, up from 53.6 in May and signalled the strongest improvement in business conditions in the non-energy private sector economy since July 2022. It was also above the long-run trend level of 52.3 (since April 2017). The headline figure has risen five times in 2024 so far, and the 2.3-point increase in the PMI was among the largest registered over the past three years."The June figure of 55.9 was higher than in all pre-pandemic months in the survey history, except for October 2017 (56.3)," al-Jaida said.Signalling the demand strengthening in the Qatari non-energy economy, the QFC said the level of incoming new work expanded at the sharpest rate in 13 months.The faster increase in new business in June resulted in the strongest growth in total business since December 2022. Growth accelerated notably in manufacturing and construction, and remained sharp in the other sectors. Despite rising demand for goods and services, companies were able to further reduce the volume of outstanding work.Confidence regarding the next 12 months remained strong in June, it said, adding companies linked positive forecasts to new branch openings, new customers and marketing campaigns.Faster growth of output and new orders was reflected in another increase in employment, the 16th in a row. Companies reported new job opportunities due to business growth and the need to recruit highly skilled staff. Wholesalers and retailers and service providers drove recruitment.Demand for inputs rose in June, as purchasing activity increased for the fourth successive month. Lead times continued to improve, however, as supplier relationships continued to be developed. Input stocks rose for only the second time in seven months, and at the fastest rate in a year as companies prepared for anticipated greater new workloads.Cost pressures rose slightly in June as average purchase prices and staff costs both increased, albeit at marginal rates. Prices charged for goods and services fell for the sixth time in the past eight months, however, and at the second-fastest rate for a year, as firms reported making discounts to boost competitiveness and win new customers.Qatari financial services companies recorded a further strengthening in growth of total business activity and new contracts in June. The seasonally adjusted financial services business activity and new business indexes rose to 13- and nine-month highs of 61.1 and 59.2, respectively, well above their long-run trend levels since 2017.Companies were also increasingly optimistic regarding the 12-month outlook, with sentiment the highest since July 2023. Meanwhile, employment growth was maintained for the 15th successive month.In terms of prices, average charges set by financial services companies rose at the strongest rate since April 2023, following a marginal rise in May and discounting during the first four months of 2024. Meanwhile, average input prices fell slightly for the third time in four months.

The Qatar Stock Exchange on Wednesday gained more than 47 points, on the back of buying interests, especially at the telecom and banking counters.The foreign funds were seen net buyers as the 20-stock Qatar Index rose 0.47% to 10,053.15 points, recovering from an intraday low of 10,002 points.The local retail investors’ weakened net selling had its influence on the main market, whose year-to-date losses truncated to 7.18%.About 59% of the traded constituents extended gains in the main bourse, whose capitalisation added QR2.67bn or 0.46% to QR580.01bn on the back of midcap segments.The Gulf institutions’ lower net profit booking had its say in the main market, which saw 0.06mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.14mn trade across 11 deals.The domestic institutions continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen gaining on par with the main barometer in the main bourse, whose trade turnover and volumes were on the decrease.The Total Return Index gained 0.47%, the All Share Index by 0.48% and the All Islamic Index by 0.47% in the main market.The telecom sector index shot up 1.1%, banks and financial services (0.67%), industrials (0.45%), consumer goods and services (0.27%), insurance (0.13%) and real estate (0.07%); while transport declined 0.3%.Major gainers in the main bourse included Zad Holding, Inma Holding, Mannai Corporation, Beema, Qatar National Cement, Qatar Islamic Bank, QIIB, Widam Food and Ooredoo.In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Ahlibank Qatar, Milaha, Qatar Oman Investment, Qatar Electricity and Water and Medicare Group were among the losers in the main market. In the junior bourse, Techno Q saw its shares depreciate in value.The foreign institutions turned net buyers to the tune of QR1.22mn compared with net sellers of QR16.78mn on July 2.The Qatari individual investors’ net selling decreased substantially to QR7.36mn against QR27.52mn the previous day.The Gulf institutions’ net selling weakened noticeably to QR6.51mn compared to QR10.83mn on Tuesday.The Gulf individual investors’ net profit booking eased marginally to QR0.43mn against QR0.45mn on July 2.However, the Arab individuals were net sellers to the extent of QR5.25mn compared with net buyers of QR1.56mn the previous day.The foreign retail investors turned net seller to the tune of QR0.25mn against net buyers of QR0.71mn on Tuesday.The domestic institutions’ net buying shrank significantly to QR18.57mn compared to QR53.33mn on July 2.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.01mn the previous day.Trade volumes in the main market declined 15% to 105.3mn shares, value by 12% to QR350.78mn and transactions by 8% to 14,669.The venture market saw a 97% shrinkage in trade volume to 0.29mn equities, 97% in value to QR0.53mn and 57% in deals to 34.

The Qatar Stock Exchange (QSE) on Tuesday remained almost flat, after a 20-day bull-run, despite selling pressure in insurance, telecom, realty and consumer goods counters..text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[165545]**The foreign institutions were seen net profit takers as the 20-stock Qatar Index settled at 10,006.07 points, although it recovered from an intraday low of 9,986 points.The local retail investors were increasingly net sellers in the main market, whose year-to-date losses were at 7.61%.The Gulf individuals were increasingly bearish in the main bourse, whose capitalisation shrank QR0.25bn or 0.04% to QR577.34bn on the back of microcap segments.The foreign funds continued to be net sellers but with lesser intensity in the main market, which saw 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.41mn trade across 18 deals.As much as 60% of the traded constituents were in the red in the main bourse, which saw no trading of treasury bills and sovereign bonds.The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover and volumes were on the decrease.The Total Return Index was unchanged, while the All Share Index was down 0.05% and the All Islamic Index by 0.26% in the main market.The insurance sector index tanked 1.58%, telecom (1.14%), realty (0.28%) and consumer goods and services (0.23%); while banks and financial services gained 0.15%, transport (0.1%) and industrials (0.04%).Major losers in the main market included Doha Insurance, Beema, Qatar National Cement, Qatar Insurance, Qatari German Medical Devices, Doha Bank, Qamco and Ooredoo.Nevertheless, Mekdam Holding, Al Meera, Gulf International Services, QLM and Al Khaleej Takaful were among the gainers in the main bourse. In the venture market, Al Mahhar Holding and Techno Q saw their shares appreciate in value.The foreign institutions turned net sellers to the tune of QR16.78mn compared with net buyers of QR21.08mn on July 1.The Qatari retail investors’ net selling increased substantially to QR27.52mn against QR17.88mn the previous day.The Gulf individual investors’ net profit booking grew marginally to QR0.45mn compared to QR0.22mn on Monday.However, the domestic institutions’ net buying increased significantly to QR53.33mn against QR29.58mn on July 1.The Arab individuals were net buyers to the extent of QR1.56mn compared with net sellers of QR7.15mn the previous day.The foreign retail investors turned net buyers to the tune of QR0.71mn against net profit takers of QR4.1mn on Monday.The Gulf institutions’ net selling weakened drastically to QR10.83mn compared to QR20.99mn on July 1.The Arab institutions’ net profit booking eased perceptibly to QR0.01mn against QR0.33mn the previous day.Trade volumes in the main market declined 7% to 124.4mn shares, value by 2% to QR397.51mn and transactions by 3% to 15,918.The venture market saw a 172-fold jump in trade volume to 10.3mn equities and 71-fold in value to QR15.53mn on almost quadrupled deals to 79.

Qatar's ports achieved the second-highest monthly container handling rate in June 2024, with over 144,000 TEUs (twenty-foot equivalent units), registering a 51% jump over the same period last year, according to the official data.This growth was accompanied by a rise in handling volumes of general and bulk cargo as well as livestock and RORO (vehicles) as Qatar's maritime sector saw more vessels calling on Hamad, Doha and Al Ruwais ports, according to the data of Mwani Qatar.The positive momentum in the ports reflects the optimistic outlook, especially for the country’s non-energy private sector, as indicated by the latest purchasing managers’ index of the Qatar Financial Centre.The number of ships calling on Qatar's three ports stood at 242 in June 2024, which saw 22.64% increase year-on-year but was flat on a monthly basis.Hamad Port, whose strategic geographical location offers opportunities to create cargo movement towards the upper Gulf, supporting countries such as Kuwait and Iraq and south towards Oman, saw as many as 123 vessels call (excluding military) in the review period.A total of 1,323 ships had called on the three ports during the first six months of this year.The general and bulk cargo handled through the three ports surged 162.51% on an annualised basis to 56,934 freight tonnes in June 2024. However, it was seen declining 73.33% month-on-month in June 2024.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO, grains and livestock – handled 34,768 freight tonnes of breakbulk in June 2024.A total of 873,208 freight tonnes of general and bulk cargoes were handled by the three ports during January-June 2024.The container handling through the three ports saw 50.98 and 17.29% year-on-year and month-on-month jump respectively to 144,884 TEUs in June this year.The container terminals have been designed to address the increasing trade volume, enhance ease of doing business and support economic diversification, which is one of the most vital goals of the Qatar National Vision 2030.Hamad Port, which is the largest eco-friendly project in the region and internationally recognised as one of the largest green ports in the world, saw 144,749 TEUs this June.The container volume at the three ports totalled 706,983 TEUs during January-June 2024.The three ports handled 15,680 RORO in June 2024, which registered 107.87% and 47.48% growth year-on-year and month-on-month respectively in June 2024.Hamad Port alone handled 15,644 units this May. A total of 55,944 RORO units were handled by three ports during January-June 2024.Qatar's automobile sector has been witnessing stronger sales, especially in heavy equipment, private motorcycles and private vehicles, according to the latest data of the National Planning Council.The three ports were seen handling 59,129 livestock in June 2024, which zoomed 149.15% and 1.29% on an annualised and monthly basis respectively. As many as 358,201 livestock heads were handled by three ports during the first six months of this year.The building materials traffic through the three ports stood at 22,504 tonnes this June, which declined 45.3% and 43.87% year-on-year and month-on-month respectively.As much as 229,415 tonnes of building materials were handled by Hamad, Doha and Al Ruwais ports during January-June this year.

Global insurance rating agency A M Best has affirmed the financial strength rating of "B++" (Good) and the long-term issuer credit rating of “bbb” (Good) of Qatar General Insurance and Reinsurance Company QPSC (QGIRC).The ratings reflect QGIRC’s consolidated balance sheet strength, which AM Best assesses as "very strong", as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).QGIRC’s balance sheet strength assessment is underpinned by risk-adjusted capitalisation at the "very strong" level, as measured by Best’s capital adequacy ratio (BCAR).The rating agency projects the company’s prospective risk-adjusted capitalisation to remain at least at the "very strong" level, supported by internal capital generation.QGIRC’s earnings have been supported by a track record of adequate underwriting profitability, with it generally reporting positive technical results. However, over the past six years (2018-23), it has reported cumulative unrealised investment losses of QR2.4bn (of which QR1.3bn was in 2023), which have more than offset its profitable underwriting performance.The rating agency expects prospective operating results to be supported by the company’s increased focus on selective underwriting and a reduction in investment risk.QGIRC has implemented robust corrective actions since governance failures under the previous management team, which contributed to material write-downs in asset values in recent years. However, the ERM assessment considers A M Best’s expectation that the new management team will continue to develop its risk management framework and risk culture.QGIRC’s balance sheet is highly concentrated, with just two real estate holdings accounting for over one-third of the company’s investment portfolio, exposing it to "significant" capital volatility, which is evident by the 27.2% capital reduction in 2023 due to revaluations.Further offsetting balance sheet strength factors include QGIRC’s high reinsurance dependence and borrowings of a generally short duration, which expose the company to refinancing risk.The outlook of these credit ratings is "negative" reflect the continued pressure on QGIRC’s ERM and operating performance assessments.The company has reported material unrealised losses arising from its concentrated real estate investment portfolio, which have resulted in it reporting net losses in three of the past five years (2019-23). Additionally, whilst QGIRC has taken remedial actions to strengthen internal controls, processes and governance, A M Best views the company’s risk management capabilities in certain key risk areas as not yet time-tested.

Robust growth in exports of petroleum gases and re-exports led Qatar to post a 0.9% month-on-month jump in trade surplus to QR17.59bn in May 2024, according to the official estimates.Total exports (valued free on board) totalled QR28.1bn, while the total imports (cost, insurance and freight) amounted to QR10.51bn in the review period, said the figures released by the National Planning Council.However, the overall trade surplus shrank 3.5% year-on-year in May 2024.The country's total exports of domestic goods amounted to QR26.64bn, which shot up 1.1% on a monthly basis, even as it fell 0.7% on an annualised basis in May 2024.The country’s exports of petroleum gases and other gaseous hydrocarbons soared 8.5% month-on-month to QR17.14bn, even as those of crude declined by 15.3% to QR4.19bn, non-crude by 12.6% to QR2.04bn and other commodities by 0.5% to QR3.27bn in May 2024.On a yearly basis, the exports of petroleum gases were seen declining 0.9% and crude by 6.3%; while those of non-crude and other commodities grew 3.6% and 5.4% respectively in the review period.Petroleum gases accounted for 64.34% of the total exports compared to 64.44% a year-ago period, crude 15.73% (16.66%), non-crude 7.66% (7.34%) and others 12.27% (11.55%).In May 2024, Qatar's shipments to China amounted to QR4.76bn or 16.9% of the total exports of the country, followed by South Korea QR3.66bn (13%), India QR3.11bn (11.1%), Singapore QR2.4bn (8.5%) and the UAE QR2.1bn (7.5%).On a monthly basis, the country's exports to the UAE zoomed 29.55%, Singapore by 11.52% and India by 4.6%; while those to South Korea and China declined 13.79% and 8.24% respectively in the review period.On a yearly basis, Qatar's exports to the UAE shot up 37.52%, Singapore by 23.71%, South Korea by 2.9%, China by 2.48% and India by 0.61% in May 2024.The country’s re-exports were valued at QR1.46bn, which registered 30.7% and 49.2% growth month-on-month and year-on-year respectively in the review period.Qatar's total imports showed a 4.6% and 9.6% increase on monthly and yearly basis respectively in May 2024.The country's imports from China amounted to QR1.58bn or 15% of the total imports; followed by the US QR1.33bn (12.6%), Japan QR0.74bn (7%), Germany QR0.56bn (5.4%) and Italy by QR0.53bn (5.1%) in the review period.On a monthly basis, the country's imports from Germany soared 51.75%, China by 19.52%, Japan by 18.62% and Italy by 11.34%; whereas those from the US shrank 10.46% in May 2024.On a yearly basis, Qatar's imports from Japan expanded 196.79%, Germany by 20.56%, Italy by 13.92% and China by 12.78%; while those from the US decreased by 28.23% in the review period.In May 2024, "Motor Cars & Other Motor Vehicles for the Transport of Persons”, was at the top of the imported group and valued at QR0.8bn, which increased 72.3% year-on-year.In second place was "Parts of Aeroplanes or Helicopters" with a value of QR0.4bn, showing an annual increase of 50% in May 2024.The "Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc. and Parts Thereof" group saw imports of QR0.3bn, which however decreased 20% on an annualised basis in May 2024.

The Qatar Stock Exchange (QSE) yesterday remained under bullish spell for the 18th consecutive day with its key index gaining more than 90 points and inch towards 10,000 levels, reflecting the overall optimism in the regional markets in view of firm world oil prices.The foreign institutions were seen increasingly net buyers as the 20-stock Qatar Index rose 0.92% to 9,966.57 points, recovering from an intraday low of 9,853 points.The transport, consumer goods and telecom counters witnessed higher than average demand in the main market, whose year-to-date losses truncated further to 8.02%.As much as 62% of the traded constituents extended gains in the main bourse, whose capitalisation added QR4.2bn or 0.74% to QR575.03bn on the back of midcap segments.The Arab retail investors turned net buyers, albeit at lower levels, in the main market, which saw 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.1mn trade across 13 deals.The Gulf funds’ weakened net selling had its influence in the main bourse, which saw no trading of sovereign bonds and treasury bills.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index gained 0.92%, the All Share Index by 0.79% and the All Islamic Index by 0.7% in the main market.The transport sector index surged 2.06%, consumer goods and services (1.16%), telecom (0.93%), banks and financial services (0.77%), insurance (0.46%), real estate (0.35%) and industrials (0.3%).Major movers in the main market included Nakilat, Dukhan Bank, Estithmar Holding, Woqod, Commercial Bank, Masraf Al Rayan, Gulf International Services, Barwa and Ooredoo.Nevertheless, Qatar Cinema and Film Distribution, Mazaya Qatar, Inma Holding, Ahlibank Qatar and Zad Holding were among the losers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value; while Al Mahhar Holding was rather flat.The foreign institutions’ net buying increased substantially to QR38.86mn compared to QR11.51mn on June 26.The Arab retail investors turned net buyers to the tune of QR0.73mn against net profit takers of QR4.49mn the previous day.The Gulf institutions’ net profit booking declined significantly to QR16.42mn compared to QR49.11mn on Wednesday.The foreign individual investors’ net selling weakened perceptibly to QR2.48mn against QR4.93mn on June 26.However, the Qatari retail investors were net sellers to the extent of QR37.73mn compared with net buyers of QR0.02mn the previous day.The Gulf individual investors turned net sellers to the tune of QR0.11mn against net buyers of QR0.01mn on Wednesday.The domestic institutions’ net buying declined drastically to QR17.15mn compared to QR46.97mn on June 26.The Arab institutions had no major net exposure against net buyers of QR0.01mn the previous day.Trade volumes in the main market soared 26% to 170.06mn shares, value by 3% to QR511.17mn and transactions by 14% to 18,831.The venture market saw an 82% plunge in trade volume to 0.42mn equities, 83% in value to QR1.54mn and 76% in deals to 131.

Qatar Electronic Systems Company (Techno Q) – a leading systems integrator in audiovisual, lighting systems and business solutions – on Wednesday made the debut on the Qatar Stock Exchange’s Venture Market (QEVM) with its shares vaulting as much as 45% against its reference price.Techno Q made it to the trading ring through “direct listing”, a common mechanism in all the regional markets, which allows companies to be listed without an initial public offering or IPO.Techno Q chairman Abul Latif al-Jaidah; Zeyad al-Jaidah, managing director; Abdulla al-Ansari, chief executive officer, along with other senior company officials rang the customary bell to mark its advent in the junior bourse. QSE acting chief executive officer Abdul Aziz Nasser al-Emadi, Qatar Financial Centre Authority chief executive officer Yousuf Mohamed al-Jaida and other senior officials of the QSE were present on the occasion.The stock’s opening price was QR3.81, and the last transaction price was QR3.67. The highest price reached was QR4.2 (45% higher than the reference price of QR2.9) during the trading session and the lowest price was QR3.48.Starting from the second day of trading, the stock price will be allowed to fluctuate by 10% up and down, as is the case for other companies listed on the market."The listing of this company will increase the depth of the market and unlock opportunities to expand our investor base and access to capital while providing investors with the opportunity to invest in leading Qatari companies," said al-Emadi.The QSE's venture market, which has less stringent listing norms, have so far seen listing of four companies, achieving a growth rate of one listing each year, since its inception in 2021. However, two of them have already been transferred to the main market.Terming Techno Q’s listing as a historic feat for the company, partners, and stakeholders; Zeyad al-Jaidah said "our journey to becoming a regional systems integrator is a culmination of 28 years of planning, persistence, and passion."Highlighting that the company has been looking forward to the listing since 2012, he said since it started doing bigger projects, there was a realisation that the only way forward to grow, whether inside or outside Qatar, was by being listed in the stock market."We feel that by being listed in the stock market, the company will be taken more seriously, will give more confidence, not just to the employees of the company, (0:36) that they are dealing now with a listed company," he said, adding for the clients, they would be more confident that the projects are being signed with a public shareholding entity."As a technology company, we feel that being in the stock market (1:36) gives the investor a window to invest in the future technology," he said."As only the fourth company to list on the QEVM, we understand the task at hand, but our Techno Q DNA demonstrates we are prepared to take on the challenge of this new chapter,” according to al-Ansari.

The Qatar Stock Exchange (QSE) yesterday entered the 16th consecutive day of bullish run, having gained more than 55 points on the back of higher than average demand, especially in consumer goods and banking counters.The foreign individuals turned net buyers as the 20-stock Qatar Index rose 0.57% to 9,827.42 points, although it touched an intraday high of 9,866 points.The Gulf retail investors were seen net buyers in the main market, whose year-to-date losses truncated to 9.26%.The domestic institutions continued to be net buyers but with lesser vigour in the main bourse, whose capitalisation added QR2.74bn or 0.48% to QR568.73bn on the back of small cap segments.The local retail investors’ weakened net profit booking had its influence in the main market, which saw 0.1mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.27mn trade across 16 deals.The Gulf funds’ lower net selling also had its say in the main bourse, which saw no trading of sovereign bonds and treasury bills.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index gained 0.57%, the All Share Index by 0.55% and the All Islamic Index by 0.08% in the main market.The consumer goods and services sector index shot up 1.22%, banks and financial services (1%) and industrials (0.39%); while telecom declined 1.11%, transport (0.41%), realty (0.32%) and insurance (0.28%).As much as 54% of the traded constituents extended gains with major movers being Commercial Bank, Dlala, Doha Bank, Woqod, Qatar Oman Investment and QNB.Nevertheless, Al Khaleej Takaful, Widam Food, Milaha, Ooredoo, QIIB, Mannai Corporation and Gulf International Services were among the shakers in the main bourse. In the venture market, Al Mahhar Holding saw its shares depreciate in value.The foreign retail investors were net buyers to the extent of QR3.69mn compared with net sellers of QR5.06mn on June 24.The Gulf individual investors turned net buyers to the tune of QR1.55mn against net sellers of QR0.87mn the previous day.The Gulf institutions’ net profit booking declined substantially to QR3.94mn compared to QR20.49mn on Monday.The Qatari individual investors’ net selling weakened significantly to QR4.97mn against QR17.42mn on June 24.The Arab retail investors’ net buying decreased perceptibly to QR0.7mn compared to QR2.39mn the previous day.However, the Arab institutions were net sellers to the extent of QR0.46mn against net buyers of QR0.27mn on Monday.The domestic institutions’ net buying weakened drastically to QR4.18mn compared to QR30.33mn on June 24.The foreign institutions’ net buying shrank noticeably to QR0.65mn against QR15.63mn the previous day.Trade volumes in the main market soared 23% to 148.87mn shares, value by 8% to QR427.34mn and transactions by 10% to 16,437.The venture market saw as many as 0.11mn equities valued at QR0.18mn changed hands across 20 deals.

The Qatar Financial Market Authority (QFMA) received as many as 12 applications for acquisition with six of them materialising, valued at QR1bn during 2023.These deals varied between direct and indirect acquisitions inside and outside Qatar, and included many sectors such as industrials, transportation, insurance, and telecoms, the QFMA said in its 2023 annual report, which was released recently.During 2023, in addition, as many as five acquisitions were processed, and one transaction was cancelled. The five indirect acquisitions completed in Qatar were in the industrials, telecom and transportation sectors during the review period. One indirect acquisition completed outside the country was in the insurance sector during 2023.Among those under process are one direct and indirect acquisition in Qatar in the transportation sector; two indirect acquisitions in the UAE in the industrials sector; one indirect acquisition in the industrial sector outside Qatar; one direct and indirect acquisition in the industrial sector in the country and one indirect acquisition in the industrial sector outside the state.2023 witnessed "remarkable" activity in the number of offering and listing applications approved by the QFMA, whereas one company was offered for public subscription and two companies were listed in the main market through the direct listing mechanism.A company was transferred from the venture market to the main market, while the venture market saw a direct listing mechanism.The sectors represented by these entities included insurance, banking, consumer goods and services, and industrials, where the number of companies grew during 2023 to reach 51 compared to 47 during 2022 with an annual growth rate of 8.5%.The public offering was made by Meeza, while Beema and Dukhan Bank made entry into the main market through direct listing. In the venture market, Al Mahhar Holding was directly listed, while Mekdam Holding was transferred from the junior bourse to the main market during 2023.The volume of capital listed on the QSE during 2023 through direct offerings and listings in the main market amounted to QR6.083bn, and in the secondary market was QR207mn, which contributes “positively to increasing the depth and attractiveness” of the capital market in the country.During 2023, capital increase through bonus shares was seen in Zad Holding and Al Meera; while Mekdam Holding resorted to capital enhancement through rights issue. In the case of Mazaya Qatar, capital reduction was witnessed.During 2023, the book building mechanism was implemented for the first time in Qatar, supporting more realistic pricing, as it depends on the desire and seriousness of qualified investors with experience in buying the shares offered for subscription, which reflects positively on investors' confidence in the market.

Qatar Electronic Systems Company (Techno Q) – a leading systems integrator in audiovisual, lighting systems and business solutions – will today start trading on the Qatar Stock Exchange’s Venture Market (QEVM).With this, the number of companies listed on the QEVM will become two. Since its inception, the junior bourse has seen listing of three entities, the two of which later got shifted to the main market.As many as 84.5mn shares of Techno Q are being listed through direct listing (without offering shares for public subscription). It will be listed with the symbol "TQES".The reference price for the share has been set at QR2.9 (including QR1.9 premium), based on the company's documents. Market capitalisation is QR245.05mn at listing valuation.On the first day of listing, the company’s price will be floated, while from the second day, the price will be allowed to fluctuate by 10%, up or down, as is the case for other companies listed on the market.The company is aiming at QR1bn revenues for which it has chalked out multi-pronged strategies, which includes acquisitions and joint ventures as well as expanding and strengthening overseas operations.It is increasing efforts on the group’s expansion strategy to neighbouring markets, mainly Saudi Arabia, where the group established a 100% owned subsidiary at the beginning of 2023 to focus on AV, ELV and hospitality related projects, as well as Oman, where the group holds 98% equity interest in QIS to focus on similar projects in this neighbouring country.In 2023, the company reported revenues of QR269.4mn at a compound annual growth rate of 17.1% over the past three years, and net income of QR19.7mn. As per its listing prospectus, revenues were QR330.92mn in 2022 with a vast majority of it coming from projects.Techno Q was established in Qatar in 1996 operating in the AV, hospitality and lighting segment through its own operation and in the ELV and security systems segment through its fully owned subsidiary Techno Q Security Systems.Over its 28 years of operations, the group’s portfolio include the design and execution of cutting-edge race electronics for a premier international racing competition in Qatar, the creation and setup of sophisticated security access control systems for a number of football stadiums for a globally recognised sporting event, and the supply and installation of a comprehensive CCTV and Access Control Systems for Qatar’s largest hospital.