Author

The gains in global energy prices had its reflection in the regional bourses, including the Qatar Stock Exchange (QSE), which traversed through a positive trajectory this week..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[150577]**The foreign institutions were seen net buyers as the 20-stock Qatar Index rose 0.25% this week which saw the QSE to move to T+2 settlement cycle from the present T+3, effective from March 25.The real estate, transport, consumer goods, industrials and telecom counters witnessed higher than average demand this week which saw the QSE amends the covered short selling procedures for exchange traded fund units and the covered short selling procedures of the market maker, liquidity provider and qualified investor.The Gulf institutions’ weakened net selling pressure had its influence in the main market this week which saw QSE announce that United Development Company (UDC) and Vodafone Qatar to replace Baladna and Ezdan Holding in the index, effective from April 1.However, the local retail investors turned bearish in the main bourse this week which saw Gulf International Services’ strategic growth in Qatar and global markets as it builds new revenue streams by capitalising on opportunities associated with North Field expansion.The domestic funds were seen net sellers in the main market this week which saw Standard and Poor's, a global credit rating agency, view that Qatar's realty sector is undergoing a cyclical correction after the boost related to the World Cup in November-December 2022.The Arab individuals were increasingly net profit takers in the main bourse this week which saw a total of 0.34mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.79mn trade across 54 deals.The foreign retail investors turned net sellers in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.03mn change hands across four transactions.The Islamic index was seen gaining faster than the other indices in the main market this week which saw the industrials and banks together constitute more than 59% of the total trade volumes.Market capitalisation added QR2.03bn or 0.35% to QR590.2bn on the back of midcap segments this week, which saw no trading of sovereign bonds and treasury bills.Trade volumes and turnover were on the increase in both the main bourse and junior market this week.The Total Return Index rose 0.55%, the All Share Index by 0.48% and the All Islamic Index by 0.74% this week.The realty sector index zoomed 3.68%, transport (3.1%), consumer goods and services (1.09%), industrials (0.76%) and telecom (0.46%); while banks and financial services was down 0.3% and insurance 0.13% this week.Major gainers in the main market included Meeza, Qatar General Insurance and Reinsurance, UDC, Nakilat, Mesaieed Petrochemical Holding, Qatar Islamic Bank, Masraf Al Rayan, Woqod, Industries Qatar, Qamco, Barwa, Vodafone Qatar and Milaha. In the venture market, Al Mahhar Holding saw its shares depreciate in value this week.Nevertheless, about 56% of the traded constituents were in the red with major losers being Qatar Electricity and Water, Dlala, Qatari German Company for Medical Devices, Qatar National Cement, Doha Insurance, Lesha Bank, Mannai Corporation and Gulf Warehousing this week.The foreign funds were net buyers to the tune of QR166.22mn compared with net sellers of QR21.35mn the week ended March 7.The Gulf institutions’ net profit booking declined substantially to QR3.69mn against QR28.53mn the previous week.However, Qatari individuals turned net sellers to the extent of QR119.91mn compared with net buyers of QR19.39mn a week ago.The domestic funds were net profit takers to the tune of QR27.01mn against net buyers of QR22.46mn the week ended March 7.The Arab individual investors’ net selling strengthened noticeably to QR8mn compared to QR2.63mn the previous week.The foreign retail investors turned net sellers to the extent of QR5.22mn against net buyers of QR9.19mn a week ago.The Gulf individuals were net profit takers to the tune of QR2.41mn compared with net buyers of QR1.68mn the week ended March 7.The Arab institutions had no major net exposure against net sellers to the tune of QR0.2mn the previous week.The main market witnessed a 39% jump in trade volumes to 891.95mn shares, 39% in value to QR2.8bn and 15% in deals to 76,283 this week.In the venture market, trade volumes shot up 58% to 1.93mn equities and value by 55% to QR3.13mn; whereas transactions were down 7% to 194.

As much as 61% of the chief executive officers (CEOs) in the Middle East expect market improvement, with optimism growing more than four times since 2023, according to Arthur D Little, an international management consulting firm.In the Middle East, the fintech sector will be of primary importance for the future 3-5 years, said the report, which reveals strong economic confidence among leaders in the Middle East.With the world’s economy showing ups and downs, 37% of these leaders (in the Middle East) still see a steady future, reflecting their trust in the region's economic strength. Only a small 2% expect a decline, which suggests a shared belief that the Middle East is on the rise after overcoming recent obstacles.The commitment to integrating AI (artificial intelligence) across business operations is seen as crucial to growth and echoes globally, with 54% of Middle East CEOs expressing a strategic vision towards a holistic, company-wide AI deployment, while 96% of global CEOS have already deployed AI in some form.While regionally 31% confirm the implementation of AI strategies across several departments, an ambitious 13% have already realised a compelling, enterprise-wide AI strategy."In the current times of business and geopolitical shifts, it is inspiring to witness the optimism among the Middle East's CEOs for what lies ahead," said Thomas Kuruvilla, managing partner at Arthur D Little Middle East.Despite acknowledging the continuing unpredictability, these leaders are confident that with resilient business models, strategic clarity, the embrace of AI, and a focus on upskilling their teams, their companies and markets are poised for enduring growth and will actively contribute to the region's prosperous future, according to him."AI is more than a buzzword in the Middle East; it's a strategic imperative that's receiving boardroom attention. Our CEOs are not just adopting AI but are strategically deploying it to unlock a new frontier of possibilities,” he said.Critical to this outlook is the approach towards external growth factors, it said, adding globally, technology innovation remains the key growth driver, with raw material prices becoming a surging concern.Yet, in the Middle East, the angst surrounding raw material prices and supply chain stability shows a notable decrease, likely attributed to the region's rich energy reserves, particularly oil and gas, the report said."Our region is uniquely positioned with technological growth and abundant energy resources, which our CEOs are leveraging to redefine growth models. The emphasis on fintech is not just about financial transactions but about catalysing a tech-savvy economic ecosystem,” Kuruvilla said.

Strengthened world energy prices on Thursday cheered the regional bourses, including the Qatar Stock Exchange, which closed 64 points higher amid heightened trading volumes..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[130236]**The foreign funds were increasingly into net buying as the 20-stock Qatar Index gained 0.63% to 10,256.05 points, having recovered from an intraday low of 10,217 points.The telecom, consumer goods and transport counters witnessed higher than average demand in the main market, whose year-to-date losses truncated to 5.31%.The foreign retail investors’ weakened net profit booking had its influence on the main bourse, whose capitalisation added QR3.24bn or 0.55% to QR590.2bn with large and midcap segments leading the pack of gainers.However, more than 54% of the traded constituents were in the red in the main market, which saw as many as 0.22mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.51mn trade across 15 deals.The local individuals were increasingly bearish in the main bourse, which saw no trading of sovereign bonds.The Islamic index grew slower than the main barometer in the main market, which reported no trading of treasury bills.The Total Return Index gained 0.63%, the All Share Index by 0.53% and the All Islamic Index by 0.58% in the main bourse, whose trade turnover and volumes were on the higher side.The telecom sector index shot up 1.81%, consumer goods and services (1.63%), transport (1.04%), realty (0.69%), industrials (0.63%) and banks and financial services (0.21%); while insurance declined 0.51%.Major gainers in the main market included Woqod, Nakilat, Ooredoo, Mesaieed Petrochemical Holding, United Development Company and Qamco.Nevertheless, Doha Insurance, Al Meera, Dukhan Bank, Qatar German Medical Devices, Dlala, Ezdan and Milaha were among the losers in the main bourse.In the venture market, Mahhar Holding saw its shares depreciate in value.The foreign institutions’ net buying increased drastically to QR107.08mn compared to QR11.01mn on March 13.The foreign individuals’ net selling declined perceptibly to QR0.7mn against QR1.35mn the previous day.However, the local individual investors’ net selling grew substantially to QR55.04mn compared to QR13.12mn on Wednesday.The domestic institutions turned net sellers to the tune of QR29.81mn against net buyers of QR4.83mn on March 13.The Gulf funds’ net profit booking strengthened noticeably to QR14.95mn compared to QR2.84mn the previous day.The Arab retail investors were net sellers to the extent of QR4.13mn against net buyers of QR1.53bn on Wednesday.The Gulf individual investors’ net profit booking rose perceptibly to QR2.44mn compared to QR0.08mn on March 13.The Arab institutions had no major net exposure for the third consecutive session.Trade volumes in the main market almost doubled to 342.59mn shares and value more than doubled to QR1.23bn on 30% growth in deals to 21,155The venture market saw a 5% contraction in trade volumes to 0.37mn equities and 8% in value to QR0.57mn but on 50% jump in transactions to 57.

The Qatar Stock Exchange (QSE) on Tuesday treaded a flat path despite stronger buying in four of the seven sectors..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[130236]**The Gulf institutions were seen net profit takers even as the 20-stock Qatar Index remained rather unchanged at 10,190.65 points, although it touched an intraday high of 10,232 points.More than 54% of the traded constituents were in the red in the main market, whose year-to-date losses were at 5.91%.The domestic institution turned bearish in the main bourse, whose capitalisation was down QR0.88bn or 0.15% to QR587.16bn with microcap segments leading the pack of shakers.The local individuals continued to be net profit takers but with lesser intensity in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.03mn trade across 10 deals.The foreign funds were increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.The Islamic index reported gains vis-à-vis flat main market, which reported no trading of treasury bills.The Total Return Index treaded a flat path, while the All Share Index shrank 0.15% even as the All Islamic Index grew 0.22% in the main bourse, whose trade turnover fell amidst higher volumes.The banks and financial services sector index shrank 0.61%, consumer goods and services (0.42%) and real estate (0.34%); while transport gained 1.06%, industrials (0.52%), telecom (0.23%) and insurance (0.07%).Major losers in the main market included Qatar Industrial Manufacturing, Qatar Oman Investment, Qatar National Cement, Dlala, QNB and Lesha Bank. In the venture market, Mahhar Holding saw its shares depreciate in value.Nevertheless, Meeza, Mesaieed Petrochemical Holding, Qamco, Milaha, Zad Holding and Nakilat were among the movers in the main bourse.The Gulf institutions turned net sellers to the tune of QR7.79mn compared with net buyers of QR12.07mn on March 11.The domestic funds were net sellers to the extent of QR1.06mn against net buyers of QR13.14mn on Monday.However, the foreign institutions’ net buying increased noticeably to QR18.4mn compared to QR13.73mn the previous day.The Arab retail investors turned net buyers to the tune of QR2.67mn against net sellers of QR5.01mn on March 11.The foreign individuals were net buyers to the extent of QR2.18mn compared with net sellers of QR4.05mn on Monday.The Gulf retail investors turned net buyers to the tune of QR0.02mn against net profit takers of QR1.77mn the previous day.The local individual investors’ net selling declined substantially to QR14.42mn compared to QR28.12mn on March 11.The Arab institutions had no major net exposure against net buyers to the extent of QR0.01mn on Monday.Trade volumes in the main market rose 15% to 135.05mn shares, while value was down about 1% to QR384.13mn amidst 6% higher deals at 14,495.The venture market saw a 3% jump in trade volumes to 0.37mn equities but on 5% fall in value to QR0.6mn and 54% in transactions to 19.

Qatar's stock market is moving to 'T+2' settlement cycle from 'T+3', effective from March 25; a move that will help investors receive their cash faster and.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[130236]**substantially reduce the operational and counterparty risks."With effect from Monday, 25/03/2024 as trade date, it will apply the reduction of settlement cycle from T+3 to T+2," said the Qatar Stock Exchange (QSE), quoting Edaa.This strategic move focuses on shortening the settlement period at the QSE and complements the Qatar financial market development initiatives. The endeavour is to follow the best international practices in the global financial markets to provide the best ways and functions to enhance the efficiency of Qatar’s securities market, it said.The settlement cycle has remained at trade date plus three business days (T+3) in Qatar, where the global fund managers have been eyeing the fastest growing economy due to its strong macro fundamentals and its hydrocarbons expansion strategy.Qatar's medium-term growth is expected to average around 5.5%, boosted by significant LNG production expansion and the initial reform gains from implementing the third National Development Strategy, according to the International Monetary Fund’s latest Article IV consultation with the country.The shortened settlement cycle also assumes significance especially after Doha unveiled its plans to enhance its liquefied natural gas production to 142mn tonnes per year before the end of 2030 from the current 77mn tonnes, which in turn offers direct and indirect benefits to the private sector as well.The ‘T+2’ settlement cycle ensures seamless international fund management, which helps in enhancing the competitive edge of the Qatari capital market, market sources said.A key industry demand has been to shorten the settlement cycle in view of Qatar having the necessary enablers such as the market ecosystem and technological infrastructure.A cost-benefit analysis of the shortened settlement cycle has found that major bourses across the world favour shortened settlement period as it helps reduce clearing and settlement risk as well as the overall costs for the securities' industry, thus making the market safer.The significant improvements in straight through processing and the underlying technology over the last few years call for a shortened settlement cycle, which at this point of time greatly improves volume and liquidity in the system, market experts said.Having ‘T+2’ settlement cycle, in line with global markets, ensures seamless international fund management, which in turn, helps in enhancing the competitive edge of the Qatari capital market, sources said.The shortened settlement cycle would help improve market efficiency as the reinvestment becomes faster, they said, adding the reduction in the initial margins and the shortened settlement cycle are ought to improve the liquidity.

The recently held AFC Asian Cup seems to have had profound impact on Qatar’s hospitality sector as rooms yield more than doubled on robust occupancy on an annualised basis in January 2024, according to the official estimates.The surge in the country’s hospitality sector comes in view of a robust arrival of visitors, especially from the Gulf Co-operation Council (GCC) and other Arab countries reporting higher than national average growth, said the figures released by the PSA.The substantially higher occupancy in January 2024 comes amidst 702,808 visitor arrivals, reporting 106.5% and 35.5% surge year-on-year and month-on-month respectively in the review period.The visitor arrivals from the GCC were 370,051 or 53% of the total; followed by Europe 137,202 or 20%; other Asia (including Oceania) 103,713 or 15%; other Arab countries 51,583 or 7%; the Americas 31,297 or 4%; and other African countries 8,962 or 1%.The visitor arrivals from other Arab countries zoomed 446.1% and 29.9% year-on-year and month-on-month respectively in January 2024 and those from the GCC grew 160.6% and 116.4% on yearly and monthly basis.The visitor arrivals from other Asia (including Oceania) shot up 79% year-on-year but declined 9.3% on a monthly basis and those from other African countries zoomed 49.1% on an annualised basis even as it shrank 36.9% on a monthly basis in the review period.The visitor arrivals from Europe were seen expanding 36.6% year-on-year but was down 5.1% month-on-month; while those from the Americas grew 27.5% on an annualised basis while it declined 10.5% on a monthly basis in January 2024.The country’s overall hospitality sector saw a 112.18% year-on-year surge in average revenue per available room to QR418 in January 2024 as the average room rate jumped 17.73% to QR498 and occupancy by 37% to 84% in the review period.In the case of five-star hotels, the average revenue per available room increased 101.13% on annualised basis to QR533 in January 2024 as the average room rate grew 13.44% to QR650 and the occupancy by 36% to 82%.The average revenue per available room in the four-star hotels zoomed 173.27% on a yearly basis to QR276 in January 2024 as the average room rate grew 34.75% to QR318 and the occupancy by 44% to 87%.The three-star hotels saw a 102.33 year-on-year surge in average revenue per available room to QR261 as average room rate shot up 45.5% to QR275 and the occupancy by 26% to 95% in the review period.The two-star and one-star hotels’ average revenue per available room increased 65.63% year-on-year to QR212 in January 2024 as the average room rate grew 24.55% to QR208 and the occupancy by 25% to 102%.The deluxe hotel apartments saw a 121.43% year-on-year lift in average revenue available per room to QR372 in January 2024 as the average room rate in the category was seen gaining 14.07% on an annualised basis to QR446 and the occupancy by 41% to 84% in the review period.In the case of standard hotel apartments, the room yield expanded 118.87% year-on-year to QR232 this January as the average room rate was up 26.99% to QR287 and the occupancy by 34% to 81%.

Weakened world oil prices and global investors' disenchanting response to China's economic reforms had their reflection in the regional bourses, including the Qatar.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[150577]**Stock Exchange, which closed this week weak as its key index lost 245 points and capitalisation eroded more than QR15bn. As much as three-fourth of the traded constituents were in the red as the 20-stock Qatar Index plummeted 2.34% this week which saw the market heavyweight Industries Qatar (IQ) outline capital expenditure of QR10.8bn for the next five years.The Gulf institutions were seen net profit takers this week which saw Mesaieed Petrochemical Holding (MPHC) outline capital expenditure of QR2.1bn for 2024-28.The foreign institutions turned bearish this week which saw Doha Bank’s $500mn bond issue oversubscribe four times.The Arab funds were seen net sellers this week which saw Qatar Financial Centre’s purchasing managers’ index suggest that the country’s non-energy private sector see a stronger improvement in business conditions in February.The Arab individuals continued to be net profit takers but with lesser intensity this week which saw Estithmar Holding ink pact with South Korea’s EHL Bio to promote stem cell therapy.The real estate, banking and industrials counters witnessed a lower than average selling pressure in the main market this week which saw a total of 0.09mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.21mn trade across 24 deals.The foreign funds’ substantially weakened net buying had its influence in the main bourse this week which saw as many as 0.07mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.71mn change hands across 31 transactions.The Islamic index was seen declining faster than the other indices in the main market this week which saw the banks and industrials together constitute about 58% of the total trade volumes.Market capitalisation eroded QR15.59bn or 2.58% to QR588.17bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.Trade volumes and turnover were on the decline in both the main bourse and junior market this week, which saw the Qatar Central Bank launch Fawran, a fast and efficient domestic instant payment system, as part of its efforts to reduce reliance on cash and lower the associated costs.The Total Return Index shed 0.81%, the All Share Index by 0.78% and the All Islamic Index by 2.47% this week.The realty sector index tanked 1.94%, banks and financial services (1.52%) and industrials (0.59%); while insurance shot up 3.95%, transport (0.48%), telecom (0.16%) and consumer goods and services (0.09%) this week.Major losers in the main market included Qatari Investors Group, Barwa, IQ, Qatar Industrial Manufacturing, Ooredoo, QNB, Alijarah Holding, Inma Holding, Salam International Investment, MPHC, Estithmar Holding, Ezdan and Mazaya Qatar this week.Nevertheless, Qatar Cinema and Film Distribution, Gulf Warehousing, Mannai Corporation, Qatar Electricity and Water, Qatar Insurance and Gulf International Services were among the gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value this week.The Gulf institutions turned net sellers to the tune of QR28.53mn compared with net buyers of QR32.39mn the week ended February 29.The foreign funds were net profit takers to the extent of QR21.35mn against net buyers of QR127.13mn the previous week.The Arab institutions turned net sellers to the tune of QR0.2mn compared with no major net exposure a week ago.The domestic funds’ net selling declined drastically to QR22.46mn against QR139.58mn the week ended February 29.However, Qatari individuals turned net buyers to the extent of QR19.39mn compared with net sellers of QR256.86mn the previous week.The foreign retail investors were net buyers to the tune of QR9.19mn against net buyers of QR25.89mn a week ago.The Gulf individuals turned net buyers to the extent of QR1.68mn compared with net buyers of QR5.44mn the week ended February 29.The Arab retail investors’ net selling weakened noticeably to QR2.63mn against QR10.91mn the previous week.The main market witnessed a 54 contraction in trade volumes to 643.7mn shares, 52% in value to QR2.01bn and 38% in deals to 66,407 this week.In the venture market, trade volumes tanked 44% to 1.22mn equities, value by 42% to QR2.02mn and transactions by 40% to 208.

Doha's non-energy private sector witnessed a stronger improvement in business conditions in February, according to the Qatar Financial Centre's purchasing managers index (PMI).Output and employment both increased at faster rates, and new business growth was maintained. Companies were also able to make progress on volumes of outstanding work during the month, and the 12-month outlook improved, said the PMI survey data, compiled by S&P Global.A reduction in purchasing activity revealed a preference for destocking, with inventories falling slightly for the third month running as firms sought efficiency gains. Price pressures remained subdued, with average input costs rising only modestly and charges falling at the strongest rate in two years.The PMI registered 51 in February, up from 50.4 in January. The latest figure moved further above the no-change mark of 50; thereby signalling a faster improvement in business conditions in the non-energy private sector economy.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector entities. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data."So far in 2024 the headline index is trending in line with the average for the fourth quarter of 2023, indicating sustained economic growth. Although new orders did not rise by as much as in January, the 12-month outlook brightened with firms at their most confident since last September," said Yousuf Mohamed al-Jaida, chief executive officer of the QFC Authority.Of the five components of the headline figure, output, new orders and employment all registered above 50 index readings in February, indicative of month-on-month expansions. These were partly offset by shorter suppliers' delivery times and a reduction in input stocks.Demand for goods and services in Qatar's non-energy economy continued to expand in February, it said, adding companies widely linked new orders to new customers and branch openings."The rate of growth eased since January, enabling a reduction in the volume of outstanding business," it said.Total activity increased at the fastest rate in three months in February, although growth remained below the strong average for 2023.Qatari firms continued to raise employment, extending the current sequence of growth to 12 months. Purchases of inputs fell further, however, as firms continued to trim inventories. This further alleviated pressure on supply chains, as lead times shortened for the twenty-second successive month.Average input prices rose in February, driven by both wages and purchase costs, but overall cost pressures were muted. Output prices fell for the fourth straight month, and the most since February 2022.Qatari financial services companies saw faster growth in volumes of total business activity and new contracts in February. The seasonally adjusted Financial Services Business Activity and New Business Indexes posted 51.3 and 51.4 respectively, in each case rising since January. Companies were also more optimistic regarding the 12-month outlook for activity."Companies are taking on staff at the fastest rate in five months, with financial services registering the strongest job creation. The sector also posted faster new business expansion in February, bucking the wider trend,” al-Jaida said.

Qatar on Tuesday suggested strengthening joint action by the Gulf Co-operation Council (GCC) countries to promote growth, sustainable development and financial stability and also called for developing technological infrastructure and payment systems. This was suggested by the Qatar Central Bank (QCB) Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani, who chaired the 82nd meeting of the Committee of Central Banks Governors of the GCC. "More efforts are needed to strengthen joint action frameworks by promoting constructive dialogue and co-ordination efforts among the various GCC committees, namely the Committee of Central Banks Governors, in order to proactively address the challenges and ensure rapid developments in the financial and banking sector, thereby promoting growth opportunities," he said. He underlined the importance of strengthening joint action among the Arab Gulf states, especially in light of the economic and financial challenges the world is experiencing in relation to growth, sustainable development, financial stability, and interest rate policies, which would influence the growth in the countries of the region. Sheikh Bandar called for exchanging experiences and co-ordinating joint initiatives to unify concepts and strengthen the protection systems to ensure financial and economic stability, especially in light of the unprecedented developments in fintech and the resulting changes in banking and financial services in order to keep pace with this progress. This, according to him, may be achieved by developing a technological infrastructure and payment systems, along with appropriate rules and legislation to regulate the activities and maintain financial stability. He also highlighted some of the risks lurking in financial systems as a result of new technologies, including those associated with cryptocurrencies, money laundering and terrorist financing operations, and the challenges associated with fraudulent financial operations, which negatively affect financial stability and security and represent a threat to regulatory and financial systems, at both regional and global levels. He stressed the "the need to raise the levels of co-operation between the authorities responsible for nurturing the financial and banking systems in the region to focus on developing flexible and innovative plans and solutions to confront these challenges and reduce the associated risks." During the past several years, the GCC registered great achievements, which contributed to the advancement and prosperity of the region, helping them to achieve advanced rankings in various indicators and compete with developed countries in various fields, according to Sheikh Bandar. He also made a special note of the efforts undertaken by the Committee of Central Banks Governors of the GCC in supporting economic growth and maintaining financial stability in the Gulf countries, largely on account of the co-ordinated efforts in numerous financial and banking initiatives.

The regional geopolitical uncertainties and Israel’s rejection of ceasefire had their lingering effect on the Qatar Stock Exchange (QSE) with its key index dropping as much.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[133515]**as 89 points and capitalisation melting about QR9bn this week.The foreign institutions were increasingly net profit takers as the 20-stock Qatar Index shed 0.88% this week which saw Industries Qatar (IQ) report net profit of QR4.7bn in 2023.The domestic funds were seen net sellers this week which saw the Qatar Financial Centre's purchasing managers’ index find that Doha's non-energy private sector began 2024 on a strong note with improving business conditions.The Arab institutions were bearish, albeit at lower levels in main market this week which saw Dukhan Bank register net profit of QR1.3bn in 2023.More than 80% of the traded constituents were in the red in the main bourse this week which saw QIIB’s 2023 net profit at QR1.16bn.The local retail investors’ weakened net buying interests had its influence in the main market this week which saw Milaha record net profit of QR1.03bn in 2023.The transport, consumer goods and industrials counters witnessed higher than average selling pressure in the main bourse this week which saw Qamco report net profit of QR446.01mn in 2023.However, the foreign funds were seen increasingly net buyers in the main market this week which saw a total of 0.05mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.11mn trade across 19 deals.The Arab individuals were increasingly bullish in the main bourse this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.05mn change hands across six transactions.The Islamic index was seen declining slower than the other indices in the main market this week which saw the banks and industrials together constitute about 64% of the total trade volumes.Market capitalisation eroded QR8.62bn or 1.47% to QR576.97bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.Trade volumes and turnover were on the decline in both the main bourse and juniour market this week, which saw Ezdan seek withdrawal of its credit rating from Standard and Poor’s.The Total Return Index shed 0.88%, the All Share Index by 1.18% and the All Islamic Index by 0.1% this week, which saw United Development Company register net profit of QR402mn in 2023.The transport sector index plummeted 4.08%, industrials (2.18%), consumer goods and services (1.35%), insurance (0.67%), telecom (0.64%), real estate (0.51%) and banks and financial services (0.46%) this week which saw Milaha and the Qatar Research, Development and Innovation (Council) enter into a strategic tie-up to offer grant $1mn each to five companies that address sustainability challenges in the maritime industry.Major losers in the main market included Ahlibank Qatar, Widam Food, Milaha, Gulf Warehousing, Doha Bank, Commercial Bank, QNB, Lesha Bank, Alijarah Holding, Medicare Group, IQ, Qatar National Cement, Qatar Industrial Manufacturing, Aamal Company, Gulf International Services, Mazaya Qatar, Vodafone Qatar and Nakilat this week which saw Meeza report net profit of QR60.22mn in 2023.Nevertheless, Qatar Islamic Insurance, Qatar Islamic Bank, Inma Holding, Masraf Al Rayan, QIIB, Mesaieed Petrochemical Holding and Ezdan were among the gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value this week which saw a top official of QSE say the Qatar Derivatives Market is expected to be launched this year.The Gulf institutions’ net selling increased drastically to QR143.25mn compared to QR44.18mn the week ended January February 1.The domestic institutions turned net sellers to the tune of QR31.58mn against net buyers of QR30.02mn the previous week.The Arab institutions were net profit takers to the extent of QR0.26mn compared with no major net exposure a week ago.The Qatari individuals’ net buying declined substantially to QR5.59mn against QR26.97mn the week ended February 1.However, the foreign funds’ net buying strengthened significantly to QR115.88mn compared to QR36.04mn the previous week.The Arab individual investors’ net buying expanded considerably to QR25.91mn against QR12.62mn a week ago.The foreign individuals’ net buying grew noticeably to QR23.74mn compared to QR10.31mn the week ended February 1.The Gulf individual investors’ net buying rose perceptibly to QR3.98mn against QR0.3mn the previous week.The main market witnessed a 9% contraction in trade volumes to 616.76mn shares and 11% in value to QR1.95bn but on almost flat deals at 76,340 this week.In the venture market, trade volumes tanked 14% to 0.93mn equities, value by 15% to QR1.29mn and transactions by 13% to 118.

Qatar's medium-term growth is expected to average around 5.5%, boosted by significant LNG (liquefied natural gas) production expansion (65% by 2028) and the initial reform gains from implementing the third National Development Strategy (NDS3), according to the International Monetary Fund (IMF).As global commodity prices decline and domestic demand normalises, headline inflation is to moderate to around 2% over the medium terms against the projected below 3% in 2023, said the IMF after concluding its Article IV consultation with Qatar.Highlighting that the fiscal and current accounts will likely remain in "sizeable" surplus, the Bretton Wood's institution said hydrocarbon prices are likely to stay elevated, albeit declining over the medium term."Qatar’s LNG production expansion, combined with increasing demand from Asia and Europe, is set to boost LNG export over the medium term," it said.Amid high hydrocarbon prices, both fiscal and current account positions strengthened significantly in 2022, with surpluses reaching 10.5% of GDP (gross domestic product) and 26.5% of GDP, respectively.Finding that risks are broadly "balanced"; it said maintaining prudent macroeconomic policy and intensifying reform efforts will support Qatar’s resilience to shocks and accelerate its economic transformation.The IMF suggested that the fiscal strategy should balance discipline with growth in the near term and facilitate the transition to more diversified, private sector-led growth over the medium term.If downside risks to growth materialise and the ongoing growth slowdown sharpens, some fiscal space could be deployed through productive and efficient spending, while maintaining broad fiscal prudence, according to the IMF."In the medium term, fiscal strategy should aim at sustaining prudent and countercyclical policy, accelerating revenue diversification including via VAT (value added tax) introduction, enhancing current expenditure efficiency by rationalising wage bill and gradually removing remaining subsidies, and reorienting expenditure from traditional infrastructure to reforms that facilitate transformation to a private sector-led growth model," it said.A medium-term fiscal framework anchored around maintaining intergenerational equity, complemented by greater fiscal transparency, would support the implementation of the fiscal strategy, it added.Qatar’s medium-term fiscal strategy should be underpinned by sustained prudence, accelerated revenue diversification and enhanced spending composition and efficiency, it said, forecasting that the central government debt is projected to gradually decline to close to 30% of GDP by 2028.On the need to intensify reform efforts to shift from a traditional state-led growth model to a more dynamic, knowledge-based, private sector-driven one; the IMF said attracting more skilled expatriates, improving education outcome, incentivising Qatari nationals to take up private sector jobs, and raising female labour force participation will enhance human capital and labour market dynamics.Highlighting the need to promote further trade liberalisation, ease access to finance, and continue enhancing administrative efficiency; it said these measures should be implemented comprehensively in a well-sequenced manner to boost potential growth.Furthering digitalisation and climate actions are also critical, it said, adding broadening gains from economic zones and centers to the wider economy would accelerate economic diversification.Qatar’s decade-long efforts to diversify the economy culminated into the successful hosting of the 2022 FIFA World Cup. After very strong performance in 2022 on the back of World Cup-induced buoyancy and high hydrocarbon prices, growth has been normalising, with real GDP growth in 2023 projected at 1.6%."Growth normalisation is expected to continue in the near term, with non-hydrocarbon growth supported by investment in public projects, construction of the North Field LNG expansion project, and their spillovers to logistics, manufacturing, and trade," IMF said.

The Qatar Stock Exchange on Tuesday snapped eight days of bearish spell and its key index rose as much as 14 points on the back of buying interests, especially in the real estate.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[130236]**and banking counters.The foreign institutions were increasingly net buyers as the 20-stock Qatar Index gained 0.14% to 9,901.23 points.As much as 51% of the traded constituents extended gains in the main market, whose year-to-date losses truncated to 8.58%.The Gulf institutions’ weakened net profit booking had its influence on the main bourse, whose capitalisation added QR2.19bn or 0.38% to QR577.69bn with midcap segments leading the pack of shakers.The domestic funds’ lower net selling also had its say in the main market, which saw as many as 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn trade across six deals.The local individuals continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic index grew faster than the main index in the main market, which reported no trading of treasury bills.The Total Return Index rose 0.14%, the All Share Index by 0.26% and the All Islamic Index by 0.2% in the main bourse, whose trade turnover and volumes were on the decline.The realty sector index shot up 1.03%, banks and financial services (0.69%), telecom (0.12%) and industrials (0.06%); while transport declined 1.71%, consumer goods and services (0.43%) and insurance (0.01%).Major movers in the main market included Mannai Corporation, Al Meera, Gulf Warehousing, Qatar Insurance, Qatar Islamic Insurance, QNB, Dukhan Bank, Salam International Investment, Qatar National Cement and Barwa.Nevertheless, Qatar General Insurance and Reinsurance, Doha Insurance, Qatar Oman Insurance, QLM, Nakilat, Doha Bank, Baladna, Qatar Electricity and Water, Gulf International Services and Milaha were among the shakers in the main bourse.In the venture market, Mahhar Holding saw its shares depreciate in value.The foreign institutions’ net buying expanded marginally to QR25.46mn compared to QR24.78mn on February 5.The Gulf institutions’ net profit booking decreased substantially to QR23.42mn against QR40.15mn the previous day.The domestic institutions’ net selling weakened considerably to QR6.14mn compared to QR20.92mn on Monday.However, the Arab institutions turned net sellers to the tune of QR0.13mn against no major net exposure on February 5.The Arab individuals were net sellers to the extent of QR0.09mn compared with net buyers of QR2.46mn the previous day.The local individual investors’ net buying declined drastically to QR0.81mn against QR25.07mn on Monday.The foreign retail investors’ net buying shrank markedly to QR3.02mn compared to QR5.96mn on February 5.The Gulf individual investors’ net buying eased perceptibly to QR0.49mn against QR2.81mn the previous day.Trade volumes in the main market fell 14% to 101.22mn shares, value by 17% to QR329.68mn and deals by 5% to 14,778.The venture market saw 46% contraction in trade volumes to 0.13mn equities, 45% in value to QR0.18mn and 59% in transactions to 15.

Doha's non-energy private sector opened 2024 on a stronger note with improved business conditions as output volumes and new businesses were higher against the December 2023 levels, reflecting the positive momentum brought about by the ongoing AFC Asian Cup, according to the Qatar Financial Centre (QFC).All four price indicators - overall input prices, staff costs, purchase prices and output prices - declined and supply chains continued to improve and financial services showed signs of cooling with "stable" levels of both activity and new work, according to the latest Purchasing Managers’ Index (PMI) survey data from the QFC.“The first batch of PMI data for 2024 signalled improving business conditions for the Qatari non-energy firms, following a solid economic expansion in 2023," said Yousuf Mohamed al-Jaida, chief executive officer of QFC Authority.Of the five components of the headline figure, output, new orders and employment all registered above 50.0 index readings in January, indicative of month-on-month expansions. These were partly offset by shorter suppliers' delivery times and a reduction in input stocks at non-energy private sector firms.The headline QFC PMI is a composite single-figure indicator of non-energy private sector performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.The PMI registered 50.4 in January, up from 49.8 in December. The latest figure was above the no-change mark of 50.0 and thereby signalled improving business conditions in the non-energy private sector economy.The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.Demand conditions in Qatar's non-energy economy grew in the first month of 2024, building on solid growth on average across 2023, the QFC said."Firms that reported greater sales cited new customers, promotional campaigns, competitive pricing and tourism related to the AFC Asian Cup. The renewed rise in demand contributed to a brighter 12-month outlook than at the end of 2023," the survey results said."Demand was strong enough to generate an increase in outstanding business, only the second occurrence of rising backlogs over the past year-and-a-half," al-Jaida said.Qatari firms continued to raise employment, extending the current sequence of growth to 11 months, the findings said, adding purchases of inputs fell for the first time over the same period, however, as firms reported sufficient inventory levels.Input stocks fell the most since November 2022. This further alleviated pressure on supply chains, as lead times shortened for the twenty-first successive month, it said.The PMI said average input prices fell in January, driven by both wages and purchase costs. Output prices fell for the third straight month, and the most since last June.Highlighting that Qatari financial services companies recorded broadly stable volumes of total business activity and new contracts in January; it said the seasonally adjusted financial services business activity and new business indexes posted 50.1 and 50.2 respectively, signalling broadly no change since December.In terms of prices, average charges set by financial services companies fell for the first time in four months, while cost inflation in the sector eased further.

An across the board profit booking, especially in the banks, led the Qatar Stock Exchange (QSE) plummet 153 points and its key index fell below 9,900 levels..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[130236]**The Gulf institutions were seen increasingly bearish as the 20-stock Qatar Index knocked off 1.52% to 9,887.51 points.As much as 78% of the traded constituents were in the red in the main market, whose year-to-date losses widened to 8.71%.The domestic institutions were seen increasingly net sellers in the main bourse, whose capitalisation eroded QR9.37bn or 1.6% to QR575.5bn with large and midcap segments leading the pack of shakers.The Arab individuals’ weakened net buying had its influence in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across five deals.However, the local retail investor turned bullish in the main bourse, which saw no trading of sovereign bonds.The Islamic index fell slower than the other indices in the main market, which reported no trading of treasury bills.The Total Return Index shed 1.52%, the All Share Index by 1.56% and the All Islamic Index by 1.15% in the main bourse, whose trade turnover and volumes were on the increase.The banks and financial services sector index plummeted 1.96%, industrials (1.49%), real estate (1.18%), telecom (0.94%), insurance (0.8%), consumer goods and services (0.77%) and transport (0.6%).Major shakers in the main market included Ahlibank Qatar, Gulf Warehousing, Qatar Industrial Manufacturing, Estithmar Holding, Widam Food, QNB, Qatar Islamic Bank, Commercial Bank, Qatar National Cement, Industries Qatar, Qamco and United Development Company.Nevertheless, Qatar Oman Investment, Qatar Electricity and Water, Vodafone Qatar and Meeza were the four gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value.The Gulf institutions’ net profit booking increased substantially to QR40.15mn compared to QR3.05mn on February 4.The domestic institutions’ net selling strengthened considerably to QR20.92mn against QR9.22mn the previous day.The Arab individual investors’ net buying declined markedly to QR2.46mn compared to QR4.31mn on Sunday.However, the local individuals turned net buyers to the tune of QR25.07mn against net sellers of QR12.56mn on February 4.The foreign institutions’ net buying expanded noticeably to QR24.78mn compared to QR18.21mn the previous day.The foreign individual investors’ net buying strengthened markedly to QR5.96mn against QR1.89mn on Sunday.The Gulf retail investors’ net buying expanded perceptibly to QR2.81mn compared to QR0.42mn on February 4.The Arab institutions had no major net exposure for the eighth consecutive session.Trade volumes in the main market soared 13% to 117.04mn shares, value by 41% to QR397.38mn and deals by 52% to 15,633.In the venture market, trade volumes more than doubled to 0.24mn equities and value also more than doubled to QR0.33mn on almost tripled transactions to 37.

The Qatar Stock Exchange (QSE) on Sunday opened the week weak with the local retail investors increasingly resorting to profit booking..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[130236]**About 72% of the traded constituents were in the red as the 20-stock Qatar Index declined 0.09% to 10,040.9 points.The consumer goods, realty, transport, insurance and industrials counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened further to 7.3%.The domestic institutions were seen increasingly bearish in the main bourse, whose capitalisation melted QR0.72bn or 0.12% to QR584.87bn with microcap cap segments leading the pack of shakers.The Gulf institutions continued to be net sellers but with lesser intensity in the main market, which saw as many as 6,555 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn trade across six deals.The foreign funds were seen increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.The Islamic index fell faster than the other indices in the main market, which reported no trading of treasury bills.The Total Return Index was down 0.09%, the All Share Index by 0.16% and the All Islamic Index by 0.26% in the main bourse, whose trade turnover and volumes were on the decline.The consumer goods and services sector index tanked 1.28%, real estate (0.83%), transport (0.75%), insurance (0.34%) and industrials (0.25%); while telecom gained 0.65% and banks and financial services 0.08%.Major shakers in the main market included Widam Food, Lesha Bank, Alijarah Holding, Medicare Group, Aamal Company, Woqod, Baladna, Qatar National Cement, Gulf International Services, QLM, Barwa, Milaha and Gulf Warehousing. In the venture market, Mahhar Holding saw its shares depreciate in value.Nevertheless, Qatari German Medical Devices, Ooredoo, QIIB, Qatar Islamic Bank and Inma Holding were among the gainers in the main market.The local individuals’ net profit booking grew substantially to QR12.56mn compared to QR1.13mn on February 1.The domestic institutions’ net selling strengthened considerably to QR9.22mn against QR0.31mn the previous trading day.However, the foreign institutions’ net buying expanded significantly to QR18.21mn compared to QR5.9mn last Thursday.The Arab individual investors’ net buying increased marginally to QR4.31mn against QR4.12mn on February 1.The foreign individuals’ net buying also rose marginally to QR1.89mn compared to QR1.5mn the previous trading day.The Gulf retail investors turned net buyers to the tune of QR0.42mn against net sellers of QR0.11mn last Thursday.The Gulf institutions’ net profit booking decreased markedly to QR3.05mn compared to QR9.97mn on February 1.The Arab institutions had no major net exposure for the seventh straight session.Trade volumes in the main market shrank 27% to 103.69mn shares, value by 34% to QR281.16mn and deals by 28% to 10,291.The venture market saw 27% contraction in trade volumes to 0.11mn equities, 33% in value to QR0.14mn and 13% in transactions to 13.

Qatar's hospitality sector witnessed higher occupancy year-on-year in December 2023, even as rooms yield declined, according to the official estimates.The country's overall hospitality sector saw higher than average growth in occupancy in the three and four-star hotels as well as standard and deluxe hotel apartment categories, according to the Planning and Statistics Authority data.In December 2022, the FIFA World Cup had seen a drastic surge in demand and therefore the average room tariffs, resulting in a spiralling rooms yield at that time.The occupancy in December 2023 comes amidst 518,856 visitor arrivals in the said month. On a yearly basis, the total visitor arrivals declined 15.4% but grew 31.9% month-on-month in the review period.The visitor arrivals from the Gulf Co-operation Council (GCC) constituted 171,035 or 33% of the total, Europe 144,642 (28%), other Asia (including Oceania) 114,296 (22%), other Arab countries 39,719 (8%), Americas 34,972 (7%), and other African countries 14,192 (3%) in December 2023.On an annualised basis, the visitor arrivals from the GCC rose 30%; while those from other Arab countries declined 54.8%, Americas 48.9%, Europe 40.3%, other African countries 37.7% and other Asia (including Oceania) 14.7% in December 2023.On a month-on-month basis, the visitor arrivals from Europe shot up 81.8% and other Arab countries by 50.4%; whereas those from other African countries plummeted 124.4%, Americas by 63.9%, other Asia (including Oceania) by 45.6% and the GCC by 5.5% in the review period.Qatar's hospitality sector saw a 12% year-on-year increase in occupancy to 72%, even as revenue per available room plunged 75.52% to QR307 as the average room rate declined by 79.7% to QR425 in December 2023.The five-star hotels' occupancy rose by 10% to 67% but rooms yield plummeted 76.9% to QR405 as average room rate shrank 80.43% to QR605 in the review period.The four-star hotels saw a 13% higher occupancy to 75% but revenue per available room tanked 74.66% to QR168 as average room rate plunged 79.03% to QR224 in December 2023.The three-star hotels' occupancy shot up 16% to 91% even as rooms yield declined 71.43% to QR168 as average room rate fell 76.12% to QR186 in the review period.The two-star and one-star hotels' occupancy was up 2% to 90% but rooms yield contracted by 61.02% to QR145 as average room rate decreased by 61.79% to QR162 in the last month of 2023.The deluxe hotel apartments registered a 16% surge in occupancy to 76%, whereas revenue per available room fell 72.38% to QR279 on 78% shrinkage in average room rate to QR368 in the review period.In the case of standard hotel apartments, occupancy was higher by 21% to 73% but rooms yield dropped 74.11 to QR167 as average room rate plummeted 81.72% to QR228 in December 2023.

The intensified geopolitical crisis in the region and the uncertainties surrounding the US Federal Reserve rates had their toll in the Qatar Stock Exchange (QSE), whose key index.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[133515]**plummeted 298 points and capitalisation eroded QR15bn this week.The banks and transport counters witnessed higher than average profit booking pressure as the 20-stock Qatar Index tanked 2.88% this week which saw Moody's upgrade the long-term issuer ratings of QatarEnergy, Industries Qatar (IQ) and Qatar General Electricity and Water.The foreign funds were seen net sellers this week which saw Hamad, Doha and Al Ruwais ports handled in excess of 103,000 TEUs this January, 39% of which were transshipment containers.The Gulf institutions continued to be net profit takers but with lesser vigour in main market this week which saw Nakilat report net profit of QR1.56bn during 2023.As much as 81% of the traded constituents were in the red in the main bourse this week which saw Aamal Company's subsidiary Aamal Medical sign a new strategic partnership with Austco Healthcare.The domestic funds were seen increasingly into net buying in the main market this week which saw Qatar register a 12% month-on-month jump in trade surplus to QR18.73bn in December 2023.The local retail investors turned net buyers in the main bourse this week which saw Lesha Bank through its subsidiary acquire multifamily residential property 'Alta Federal Hill' building in Baltimore in the US.The Arab individuals turned bullish in the main market this week which saw a total of 0.06mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.15mn trade across 23 deals.Six of the seven sectors reeled under selling pressure in the main bourse this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.04mn change hands across seven transactions.The Islamic index was seen declining slower than the other indices in the main market this week which saw the banks and industrials together constitute about 65% of the total trade volumes.Market capitalisation eroded QR14.99bn or 2.5% to QR585.59bn on the back of small and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.Trade volumes and turnover were on the decline in both the main bourse and junior market this week, which saw the Qatar Financial Centre Authority sign a memorandum of understanding with Meeza, the leading provider of managed IT services and solutions in Qatar, to foster sustained growth within country’s tech ecosystem.The Total Return Index plummeted 2.88%, the All Share Index by 2.68% and the All Islamic Index by 2.07% this week, which saw a Kamco Invest report that highlighted total value of contracts awarded in Qatar increased by 29.1% year-on-year to $19bnn during 2023.The banks and financial services sector index shot up 3.87%, transport (3.29%), telecom (1.61%), consumer goods and services (1.08%), industrials (1.07%) and real estate (0.88%); while insurance was up 0.07% this week which saw Qatar's producers' price index shrink both on monthly and yearly basis in December.Major losers in the main market included Widam Food, Commercial Bank, Nakilat, Masraf Al Rayan, Medicare Group, QNB, Qatar Islamic Bank, QIIB, Lesha Bank, Qatari German Medical Devices, Mekdam Holding, Industries Qatar, Mesaieed Petrochemical Holding, Mazaya Qatar, Ezdan, Ooredoo and Vodafone Qatar. In the venture market, Mahhar Holding saw its shares depreciate in value this week which saw Dlala Holding liquidate Dlala Information Technology.Nevertheless, Qatari Investors Group, Zad Holding, Qatar Insurance, United Development Company and Qatar Islamic Insurance were among the gainers in the main market this week which saw Inma Holding register net profit of QR10.3mn during 2023.The foreign funds turned net sellers to the tune of QR36.04mn compared with net buyers of QR86.86mn the week ended January 25.However, the domestic institutions’ net buying increased drastically to QR30.02mn against QR10.65mn the previous week.The Qatari individuals were net buyers to the extent of QR26.97mn compared with net sellers of QR44.76mn a week ago.The Arab individuals turned net buyers to the tune of QR12.62mn against net sellers of QR11.55mn the week ended January 25.The foreign individual investors’ net buying increased perceptibly to QR10.31mn compared to QR3.99mn the previous week.The Gulf retail investors were net buyers to the extent of QR0.3mn against net profit takers of QR0.33mn a week ago.The Gulf institutions’ net selling eased marginally to QR44.18mn compared to QR45.86mn the week ended January 25.The Arab institutions had no major net exposure for the second consecutive week.The main market witnessed a 38% contraction in trade volumes to 680.33mn shares, 32% in value to QR2.18bn and 28% in deals to 76,403 this week.In the venture market, trade volumes plummeted 50% to 1.08mn equities, value by 43% to QR1.51mn and transactions by 31% to 135.

International credit rating agency Moody's has upgraded the backed senior secured debt rating of QatarEnergy LNG S(3) (QE LNG 3) to 'Aa3' from 'A1' and Nakilat Inc to 'Aa3' from 'A1' as well as upgraded the senior subordinated debt rating of Nakilat Inc to 'A1' from 'A2'.The baseline credit assessment (BCA) is affirmed at 'baa1' for QE LNG 3 and affirmed at 'a3' for Nakilat. The outlook on these issuers has been changed to “stable”, from “positive”.The rating actions of the two Qatari project finance issuers follow Moody's upgrade of the government bond and issuer ratings of the government to 'Aa2' from 'Aa3', and change in outlook to "stable", from "positive".The rating actions on QE LNG 3 and Nakilat reflect that each is a government related issuer (GRI) and that the ratings benefit from Moody's assumption of extraordinary support, if required, from the government to avoid a default on their debt obligations, which leads to a significant uplift from the standalone credit strength, or BCA, of the projects.The 'baa1' BCA for QE LNG 3 is affirmed and reflects its strong competitive position, very strong financial metrics, even in a low oil and gas price scenario, generally beneficial project finance structural features, although lacking certain security interests and subject to limitations on the likely effectiveness of certain creditor protections, event risk considerations, including asset concentration risk and geopolitical risk and exposure to oil and gas commodity price risk.The credit quality of the bonds, as captured in "Aa3' rating reflects Moody’s assessment of a high likelihood of extraordinary government support should it become necessary.The 'a3' BCA for Nakilat is affirmed and reflects the critical importance of its vessels to their liquefaction company charterers, high quality net cash flows, underpinned by charter payments that are highly resilient and well-matched to operating costs and debt service costs, financial metrics capable of supporting long tenure project finance debt, generally beneficial project finance structural features, certain event risk considerations including exposure to force majeure risks potentially affecting the vessels, and exposure to refinancing risk arising from the bullet maturities of certain facilities.QE LNG 3 operates in conjunction with its affiliate QatarEnergy LNG S (2) (QE LNG 2), (together, QE LNG 2-3). QE LNG 2-3 engages in the upstream production of natural gas, gas treatment and liquefaction and the export of natural gas in liquid form.QE LNG 2-3 has successfully developed five liquefied natural gas (LNG) liquefaction trains, with total nameplate capacity of 29.7mn tonnes of LNG per annum, representing approximately 7.4% of globally traded LNG in 2022. QE LNG 2-3 produces a number of other valuable hydrocarbon byproducts, including condensates and liquefied petroleum gas (LPG)."We consider QE LNG 2-3 as a single entity from a credit perspective since all senior secured debt raised by QE LNG 2 is unconditionally and irrevocably guaranteed by QE LNG 3, and vice versa. All such senior debt raised by the companies ranks pari passu, and is secured against a project finance security package. Secured creditors also benefit from project finance structural features," Moody's said.Nakilat Inc. was formed in April 2006 to be an intermediate special purpose holding company for a portfolio of wholly-owned special purpose companies, with each such company procuring the construction of an LNG carrier, and becoming that vessel's owner following construction completion. The 25 vessels are contracted under long-term time charter party agreements with LNG liquefaction companies based at Ras Laffan Industrial City in Qatar.