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A strong double-digit growth in hospitality, transport and manufacturing sectors led Qatar's real (inflation-adjusted) economy to grow by a robust 2.7% year-on-year in the first quarter (Q1) of 2023, according to official estimates.However, the real economy was seen shrinking 3.9% quarter-on-quarter during the review period as the last quarter of 2022 had witnessed FIFA World Cup, whose force multiplier on the local economy was substantial.The mining and quarrying sector, under which hydrocarbons fall, grew 4.1% year-on-year and the non-mining and quarrying sector by 1.9% to place the overall real GDP (gross domestic product) at QR170.1bn. The agriculture, forestry and fishing sectors soared 6.1% on an annualised basis in Q1-2023.On a quarterly basis, the country’s real GDP (at constant prices) during Q1-2023 was dragged mainly by 6.3% contraction in the non-mining and quarrying sector; even as mining and quarrying sector was up by a marginal 0.3%.Within non-hydrocarbons, the accommodation and food service segment is estimated to have expanded 17.3% year-on-year in Q1-2023, followed by transport and storage by 16.8%, manufacturing by 10.8%, wholesale and retail trade by 9.1%, real estate by 6.1%, finance and insurance by 2.3%, and utilities by 0.7%.However, the construction sector witnessed 12.5% shrinkage and information and communication by 7.9% in the review period.On a quarterly basis, the information and communication sector plummeted 20.6%, finance and insurance (19.5%), wholesale and retail trade (16.1%), utilities (9.1%), realty (7.3%) and manufacturing (3.7%) in Q1-2023.Nevertheless, the transport and storage sector registered a 7.2% expansion and construction by 1.5% in the review period.On a nominal basis (at current prices), Qatar's GDP is estimated to have grown 1% year-on-year but tanked 8.7% quarter-on-quarter at the end of Q1-2023.The non-mining and quarrying sector's 5% surge rather masked the 4.5% decline in the mining and quarrying sector that the overall nominal GDP growth remained in the positive track on an annualised basis in Q1-2023.On a quarterly basis, both mining and non-mining sectors witnessed 11.9% and 6.3% contraction, thus leading to an overall decline in the nominal economy in Q1-2023.Within non-hydrocarbons (in nominal terms), there was a 28.7% year-on-year surge in finance and insurance, 24.3% in real estate, 11.6% in transport and storage, 6.8% in accommodation and food service, 3.8% in utilities, 2.7% in information and communication, 2.6% in manufacturing and 2% in wholesale and retail trade in Q1-2023. However, there was an 8.2% contraction in the construction sector in the review period.On a quarterly basis in nominal terms, the accommodation and food services segment saw a hefty 46.8% plunge, wholesale and retail trade (21.9%), information and communication (9.6%), manufacturing (5.2%), construction (4.9%), utilities (2.9%), realty (2.1%) and finance and insurance (0.9%) in the review period. However, the utilities segment saw a 2.3% jump in nominal terms on a quarterly basis in Q1-2023.The import duties, on real terms, are estimated to have risen 2.8% and 1.4% year-on-year and quarter-on-quarter respectively at the end of Q1-2023. On nominal terms, they however reported a 3.9% and 5.7% contraction respectively in the review period.

Global sentiments over the US economic data and the expectations on the future Fed rate path had their overarching effects on the Qatar Stock Exchange (QSE), which closed this.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[72163]**week 170 points lower.The foreign institutions were seen increasingly net profit takers as the 20-stock Qatar Index plummeted 1.64% this week which saw Qatar’s budget generate a QR10bn surplus in the second quarter of 2023 as oil price averaged $77.7 per barrel against the conservative budget assumption of $65.An across the board selling – particularly in the real estate, banking and telecom counters – was visible in the main market this week which saw Qatar's total public spending during the second quarter amount to about QR58.4bn.The Gulf retail investors were seen net profit takers in the main bourse this week which saw the London Stock Exchange group entity FTSE Russell upgrade Ooredoo to large cap from midcap segment.The Arab institutions were bearish, albeit at lower levels, in the main market this week which saw Qatar report trade surplus of QR19.65bn in July 2023.About 71% of the traded constituents were in the red in the main bourse this week which saw the Ministry of Commerce and Industry asked auditors of QSE-listed companies to comply with the Qatar Financial Market Authority’s provision regarding capping the board remuneration.The Gulf institutions’ weakened net buying had its influence in the main market this week which saw Estithmar Holding undertake groundbreaking ceremony for its first Iraqi project Rixos Baghdad.The Islamic index was seen declining slower than the main index this week which saw Estithmar Holding subsidiary Elegancia Facilities Management establish a new company in Jordan.However, the local retail investors were increasingly net buyers in the main bourse this week which saw a total of 0.66mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR1.5mn trade across 118 deals.The domestic institutions were also increasingly bullish in the main market this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.3mn change hands across 20 transactions.Market capitalisation eroded QR10.19bn or 1.66% to QR602.12bn on the back of large and midcap segments this week which saw the banks and industrials sectors together constitute about 60% of the total trade volume in the main market.The Total Return Index shed 1.64%, the All Share Index by 1.73% and the All Islamic Index by 1.54% this week, which saw no trading of sovereign bonds.The real estate sector index tanked 2.26%, banks and financial services (2.21%), telecom (1.98%), transport (1.36%), insurance (1.22%), industrials (1.09%) and consumer goods and services (0.57%) this week which saw no trading of treasury bills.Major losers in the main bourse included Qatar National Cement, Qatar Oman Investment, Lesha Bank, Baladna, United Development Company, Commercial Bank, QNB, Dlala, Mekdam Holding, Industries Qatar, Ooredoo and Milaha. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their equities depreciate in value this week which saw Qatar’s real economic growth (year-n-year) at 2.7% during the first quarter of 2023.Nevertheless, Gulf International Services, Meeza, Qamco, Estithmar Holding, Qatari Investors Group, Qatari German Medical Devices and Salam International Investment were among the gainers in the main bourse this week.The foreign funds’ net selling increased substantially to QR310.59mn compared to QR36.15mn the week ended August 24.The Gulf individuals turned net sellers to the tune of QR1.44mn against net buyers of QR0.07mn the previous week.The Arab funds turned net profit takers to the extent of QR0.02mn compared with net buyers of QR0.08mn a week ago.The Gulf institutions’ net buying declined noticeably to QR33.67mn against QR47.62mn the week ended August 24.However, the local individuals were net buyers to the tune of QR133.87mn compared with net sellers of QR73.04mn the previous week.The domestic institutions’ net buying strengthened markedly to QR81.33mn against QR63.5mn a week ago.The Arab retail investors’ net buying expanded drastically to QR44.35mn compared to QR2.38mn the week ended August 24.The foreign individuals were net buyers to the extent of QR18.82mn against net profit takers of QR4.46mn the previous week.The main market witnessed a 37% jump in trade volumes to 1.05bn shares, 45% in value to QR2.84bn and 3% in deals to 88,561 this week.In the venture market, trade volumes tanked 24% to 3.89mn equities, value by 30% to QR8.51mn and transactions by 9% to 823.

Reflecting the sentiments in the global markets over the US economic data and the expectations on the future path of the Federal Reserve rates, the Qatar Stock Exchange yesterday saw its key index plunge 155 points and market capitalisation erode QR9bn.The telecom, real estate and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index lost 1.5% to 10,194.74 points.The foreign institutions were increasingly into net profit booking in the main market, whose year-to-date losses widened further to 4.55%.About 79% of the traded constituents were in the red in the main bourse, whose capitalisation eroded QR9.4bn or 1.54% to QR602.12bn with large and midcap cap segments losing the most.However, the domestic funds were increasingly net buyers in the main market, which had touched an intraday high of 10,426 points.The local retail investors were seen increasingly bullish in the main bourse, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.18mn changed hands across 16 deals.The Arab individuals turned net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shed 1.5%, the All Share Index by 1.5% and the Al Rayan Islamic Index (Price) by 1.41% in the main bourse, whose trade turnover and volumes were on the increase.The telecom sector index tanked 2.33%, realty (2.11%), banks and financial services (1.89%), industrials (1.18%), consumer goods and services (0.75%), insurance (0.52%) and transport (0.1%).Major shakers in the main market included Qatar National Cement, Ooredoo, Ezdan, Qatar Islamic Bank, Lesha Bank, Commercial Bank, Dlala, Qatari Investors Group, Mesaieed Petrochemical Holding, QLM, United Development Company, Barwa, Mazaya Qatar and Gulf Warehousing. In the venture market, Mahhar Holding saw its shares depreciate in value.Nevertheless, Qatar Islamic Insurance, Doha Insurance, Aamal Company, Vodafone Qatar, Zad Holding and Doha Bank were among the gainers in the main market.The foreign institutions’ net selling increased drastically to QR189.01mn compared to QR64.18mn on August 30.However, the domestic funds’ net buying strengthened substantially to QR79.05mn against QR25.74mn the previous day.The local retail individuals’ net buying expanded significantly to QR64.69mn compared to QR23.19mn on Wednesday.The Arab retail investors were net buyers to the tune of QR19.08mn against net sellers of QR1.18mn on August 30.The Gulf institutions’ net buying shot up perceptibly to QR15.69mn compared to QR14.5mn the previous day.The foreign individual investors’ net buying zoomed considerably to QR8.72mn against QR1.38mn on Wednesday.The Gulf retail investors’ net buying grew noticeably to QR1.78mn compared to QR0.54mn on August 30.The Arab institutions continued to have no major net exposure for the second straight session.Trade volumes in the main market were up 14% to 287.19mn shares, value by 91% to QR1.04bn and deals by 15% to 22,383.The venture market saw a 73% plunge in trade volumes to 0.17mn equities, 74% in value to QR0.36mn and 75% in transactions to 36.

Qatar's producers' price index (PPI), which captures the price pressure felt by the producers of goods and services, was seen drifting southwards on both annualised and monthly basis this July, according to the official estimates.The country's PPI plummeted 33.09% year-on-year owing to a noticeable decline in the indices of hydrocarbons and certain manufactured products as chemicals, refined petroleum products and basic metals, according to figures released by the Planning and Statistics Authority (PSA).The PPI, which measures inflation from the perspective of costs to industry or producers of products as it measures price changes before they reach consumers, saw a 0.22% fall month-on-month in July 2023 on hydrocarbons and chemicals.The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights.The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.The lower expectations on global inflation build-up and its appurtenant reaction within the central banks expect to scale back the pace of its rate increases.The mining PPI, which carries the maximum weight of 82.46%, reported a 33.4% plunge on annualised basis in July 2023 owing to 34.44% contraction in the index of crude petroleum and natural gas and 1.54% in other mining and quarrying segments.The mining sector PPI had seen a 0.28% fall month-on-month in July 2023 as the index of crude petroleum and natural gas was seen dropping 0.28%.The manufacturing sector PPI, which has a weight of 15.85% in the basket, tanked 28% on yearly basis in July 2023 due to a 36.51% contraction in the index of chemicals and chemical products, 22.59% in refined petroleum products, 17.84% in basic metals and 0.38% in rubber and plastics products.Nevertheless, there was a 3.42% increase in the index of food products, 0.81% in beverages, and 0.06% in cement and other non-metallic mineral products in the review period.The manufacturing PPI, however, was up 0.3% on a monthly basis in July 2023 mainly on account of a 6.69% increase in the index of refined petroleum products.There was a 1.31% decrease in the index of chemicals and chemical products, 0.76% in food products, 0.54% in rubber and plastics products, 0.3% in beverages, 0.18% in basic metals and 0.17% in cement and other non-metallic mineral products in the review period.The index of electricity, gas, steam, and air conditioning supply reported 0.68% and 2.58% plunge on yearly and monthly basis respectively this July.The index of water supply soared 14.79% year-on-year but was down 0.41% month-on-month respectively in July 2023.

The Qatar Stock Exchange (QSE) Wednesday lost 21 points despite buying support from local retail investors and domestic funds..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[71535]**The transport, insurance, consumer goods and banking sectors witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.2% to 10,350.12 points.The foreign institutions were seen increasingly into net profit booking in the main market, whose year-to-date losses widened to 3.1%.About 53% of the traded constituents were in the red in the main bourse, which touched an intraday high of 10,392 points.The Arab retail investors turned bearish in the main market, whose capitalisation was down QR0.74bn or 0.12% to QR611.52bn with microcap cap segments losing the most.The foreign individuals’ weakened net buying had its marginal influence on the main bourse, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn changed hands across 14 deals.The Gulf institutions turned net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shed 0.2%, the All Share Index by 0.24% and the Al Rayan Islamic Index (Price) by 0.13% in the main bourse, whose trade turnover grew amidst lower volumes.The transport sector index declined 0.96%, followed by insurance (0.39%), consumer goods and services (0.38%), banks and financial services (0.22%) and industrials (0.11%); while telecom gained 0.21%. The real estate index was rather flat.Major shakers in the main market included Meeza, Qatar National Cement, Baladna, Doha Insurance, Milaha, Industries Qatar, Milaha and Gulf Warehousing.In the venture market, Mahhar Holding saw its shares depreciate in value.Nevertheless, QLM, Qamco, Gulf International Services, Ahlibank Qatar, Salam International Investment, Alijarah Holding, Mannai Corporation and Qatar General Insurance and Reinsurance were among the gainers in the main market.In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value.The foreign institutions’ net selling increased significantly to QR64.18mn compared to QR21.53mn on August 29.The Arab retail investors were net sellers to the tune of QR1.18mn against net buyers of QR12.91mn on Tuesday.The foreign individual investors’ net buying shrank marginally to QR1.38mn compared to QR1.57mn the previous day.However, the domestic funds’ net buying strengthened substantially to QR25.74mn against QR1.1mn on August 29.The local retail individuals’ net buying expanded perceptibly to QR23.19mn compared to QR22.02mn on Tuesday.The Gulf institutions turned net buyers to the extent of QR14.5mn against net sellers of QR14.34mn the previous day.The Gulf individual investors were net buyers to the tune of QR0.54mn compared with net profit takers of QR1.71mn on August 29.The Arab institutions had no major net exposure against net sellers to the extent of QR0.02mn on Tuesday.Trade volumes in the main market were up 7% to 25.84mn shares, while value declined 8% to QR542.59mn and deals by 9% to 19,529.The venture market saw a 65% plunge in trade volumes to 0.64mn equities, 66% in value to QR1.4mn and 57% in transactions to 143.

A steady double-digit growth in the hydrocarbon exports helped Qatar register a robust 12.8% month-on-month increase in trade surplus to QR19.65bn in July 2023, according to the official estimates.Qatar’s exports to South Korea, China and Singapore were on the rise this July compared to those in June 2023 according to the figures released by the Planning and Statistics Authority (PSA).However, the foreign merchandise trade surplus reported 43.5% contraction year-on-year in the review period.About 60% of the exports went to China, South Korea, India, Japan and Singapore. In July 2023, Qatar's shipments to China amounted to QR6.02bn or 20.7% of the total exports of the country, followed by South Korea QR4.14bn (14.2%), India QR2.79bn (9.6%), Japan QR2.03bn (7%), and Singapore QR1.96bn (6.7%).On a monthly basis, Qatar's exports to South Korea zoomed 29.47%, China by 11.7% and Singapore by 1.19%; while those to Japan and India declined 17.64% and 11.98% respectively in July 2023.On a yearly basis, the country's exports to Japan plunged 60.36%, India by 50.8%, South Korea by 18.58% and Singapore by 2.78%; whereas those to China shot up 60.78% in the review period.The country's total exports of goods (including exports of goods of domestic origin and re-exports) were up 8.4% month-on-month to QR29.08bn. On an annualised basis, it tanked 34.4% in July 2023.The country’s exports of petroleum gases and other gaseous hydrocarbons were valued at QR16.99bn, which grew 3.5% on a monthly basis; crude at QR5.36% (12.2%), non-crude at QR2.79bn (25.3%) and other commodities at QR2.81bn (16.3%) in July 2023.On a yearly basis, the exports of petroleum gases and other gaseous hydrocarbons plunged 44.4%, other commodities by 28.8%, crude by 10.6% and crude by 5% in the review period.Petroleum gases constituted 60.77% of the exports of domestic products in July 2023 compared to 70.34% a year ago period; followed by crude 19.18% (13.81%), non-crude 9.98% (6.76%) and other commodities 10.05% (9.11%).Qatar's total imports (valued at cost insurance and freight) amounted to QR9.44bn, which showed a 0.2% increase month-on-month; even as it fell 1.6% on an annualised basis in July 2023.The country's imports from China amounted to QR1.58bn, which accounted for 16.7% of the total imports; followed by the US QR1.35bn (14.3%), Germany QR0.64bn (6.7%), Italy QR0.63bn (6.6%) and India QR0.51bn (5.4%) in the review period.On a monthly basis, Qatar's imports from Italy expanded 30.96%, Germany by 19.55% and China by 18.76%; whereas those from the US and India shrank 26.39% and 1.16% respectively in July 2023.On a yearly basis, Qatar's imports from the US was seen plummeting 15.49%, India by 13.93% and China by 5.23%; while those from Germany and Italy gained 66.06% and 11.59% respectively in the review period.In July 2023, the group of "Turbojets, Turbo propellers and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities and valued at QR0.8bn, showing an annual expansion of 4.7%In the second place was "Motor Cars & Other Motor Vehicles for The Transport of Persons”, with QR0.29bn, which however showed a decrease 9.3% year-on-year in the review period.In third place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR0.28bn, showing an annual decrease of 13.4%.

The Qatar Stock Exchange was back in black Tuesday with its key index gaining as much as 35 points as industrials, consumer goods, real estate ad banking counters witnessed .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[71044]** higher than average demand. The Arab retail investors were seen increasingly into net buying as the 20-stock Qatar Index rose 0.34% to 10,370.93 points. The domestic institutions were seen bullish, albeit at lower levels in the main market, whose year-to-date losses truncated to 2.9%. More than 61% of the traded constituents extended gains to investors in the main bourse, which regained from an intraday low of 10,342 points. The foreign institutions’ weakened net selling had its influence in the main market, whose capitalisation added QR2.29bn or 0.38% to QR612.26bn with small cap segments gaining the most. The local retail investors continued to be net buyers but with lesser intensity in the main bourse, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn changed hands across 17 deals. The Gulf institutions turned net profit takers in the main market, which saw no trading of sovereign bonds. The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills. The Total Return Index rose 0.34%, All Share Index by 0.37% and Al Rayan Islamic Index (Price) by 0.45% in the main bourse, whose trade turnover and volumes were on the rise. The industrials sector index expanded 0.76%, consumer goods and services (0.66%), realty (0.43%), banks and financial services (0.38%) and insurance (0.31%); while telecom and transport declined 0.84% and 0.3% respectively. Major gainers in the main market included Estithmar Holding, Qatar National Cement, Qatari Investors Group, Al Khaleej Takaful, Qamco, Meeza, Ezdan and Mazaya Qatar. In the venture market, Mahhar Holding saw its shares appreciate in value. Nevertheless, Ahlibank Qatar, QLM, Dlala, Doha Insurance and Ooredoo were among the shakers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value. The Arab retail investors’ net buying increased noticeably to QR12.91mn compared to QR8.74mn on August 28. The domestic funds turned net buyers to the tune of QR1.1mn against net profit takers of QR10.93mn on Monday. The foreign institutions’ net selling declined significantly to QR21.53mn compared to QR36.3mn the previous day. The Gulf individual investors’ net profit booking eased perceptibly to QR1.71mn against QR2.31mn on August 28. However, the Gulf institutions were net sellers to the extent of QR14.34mn compared with net buyers of QR5.57mn on Monday. The Arab institutions turned net profit takers to the tune of QR0.02mn against no major net exposure the previous day. The local retail individuals’ net buying weakened markedly to QR22.02mn compared to QR29.8mn on August 28. The foreign individual investors’ net buying shrank considerably to QR1.57mn against QR5.44mn on Monday. Trade volumes in the main market zoomed 73% to 234.54mn shares, value by 58% to QR589.03mn and deals by 48% to 21,447. The venture market saw more than doubling of trade volumes to 1.84mn equities and value more than quadrupled to QR4.09mn on more than doubled transactions to 334.

The Qatar Stock Exchange Monday shed more than 50 points despite buying support from the local, Arab and foreign retail investors. .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[70687]** The telecom, realty and banking sectors witnessed higher than average net profit booking as the 20-stock Qatar Index shed 0.48% to 10,336.17 points. The foreign institutions were seen bearish in the main market, whose year-to-date losses widened to 3.23%. About 71% of the traded constituents were in the red in the main bourse, which however touched an intraday high of 10,393 points. The Gulf individuals were seen net sellers in the main market, whose capitalisation eroded QR3.88bn or 0.63% to QR609.97bn with small and midcap segments losing the most. The Gulf funds lower net buying interests was visible in the main bourse, which saw a total of 0.61mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.46mn changed hands across 87 deals. The domestic institutions continued to be net profit takers but with lesser intensity in the main market, which saw no trading of sovereign bonds. The Islamic index was seen declining faster than the other indices in the main market, which saw no trading of treasury bills. The Total Return Index fell 0.48%, All Share Index by 0.55% and Al Rayan Islamic Index (Price) by 0.58% in the main bourse, whose trade turnover grew amidst lower volumes. The telecom sector index tanked 1.74%, realty (0.97%), banks and financial services (0.76%), consumer goods and services (0.47%), transport (0.46%) and insurance (0.4%); while industrials gained 0.21%. Major shakers in the main market included Qatar Oman Investment, Salam International Investment, Qatar Industrial Manufacturing, Medicare Group, Ahlibank Qatar, Commercial Bank, Alijarah Holding, Qatari German Medical Devices, Widam Food, Qatar National Cement, Qamco and Ooredoo. Nevertheless, Gulf International Services, Meeza, Gulf Warehousing, Qatar Islamic Insurance and Estithmar Holding were among the gainers in the main bourse. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their stocks appreciate in value. The foreign institutions were net sellers to the tune of QR36.3mn compared with net buyers of QR0.42mn on August 27. The Gulf individual investors were net sellers to the extent of QR2.31mn against net buyers of QR0.27mn the previous day. The Gulf institutions’ net buying weakened noticeably to QR5.57mn compared to QR12.24mn on Sunday. However, the local individuals turned net buyers to the tune of QR29.8mn against net sellers of QR5.83mn on August 27. The Arab retail investors’ net buying increased considerably to QR8.74mn compared to QR4.82mn the previous day. The foreign individuals’ net buying strengthened markedly to QR5.44mn against QR1.72mn on Sunday. The domestic funds’ net profit booking shrank perceptibly to QR10.93mn compared to QR13.64mn on August 27. The Arab institutions had no major net exposure for the third straight session. Trade volumes in the main market was down 1% to 135.23mn shares, while value rose 27% to QR373.53mn and deals by 35% to 14,478. The venture market saw a 30% contraction in trade volumes to 0.51mn equities, 29% in value to QR1.11mn and 18% in transactions to 140.

FTSE Russell, a London Stock Exchange group entity, has upgraded Ooredoo to large cap from midcap in its global equity index series (GEIS).The latest move comes in the backdrop of semi-annual review of FTSE Russell, which is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.The index provider had downgraded Masraf Al Rayan to midcap from large cap; and Doha Bank to small cap from midcap segment.The index review changes announced may be subject to revision until close of business on September 1, 2023. Effective Monday, September 4, 2023, the index review changes will be considered final.The revision will be effective on September 14, 2023 after the close for the Qatari market.The FTSE GEIS is a global equity index framework that includes more than 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets.It has a wide range of indexes available for investors, allowing them to focus on specific markets and market segments.FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.Dukhan Bank had found its place within the midcap segment in the GEIS.FTSE Russell also included Qatari German Medical Devices with its microcap segment, while it deleted Medicare Group from its small cap and Qatar Industrial Manufacturing and Doha Insurance from the microcap segments.

Credit expansion in the Gulf Co-operation Council or GCC banks remained strong during the second quarter (Q2) of 2023 despite higher interest rates, according to Kamco Invest, a regional economic think-tank.Several new big-ticket projects and reform initiatives were announced in the GCC giving further boost to corporate lending, Kamco Invest said in a report.Aggregate outstanding credit facilities in almost all the countries in the GCC showed sequential growth during the quarter mainly led by a robust projects market pipeline as well as government efforts to reduce the impact of higher interest rates, it said.Manufacturing activity data from Bloomberg (Markit whole economy surveys) showed PMI (purchasing managers' index) figures stayed strong during the quarter above the growth mark of 50 for Dubai, Qatar, Saudi Arabia and UAE.The manufacturing activity in Saudi Arabia remained robust with PMI at 59.6 points during June-2023 and remained elevated at during July-2023 at a slightly lower mark of 57.7. The UAE and Qatar also boasted strong PMI figures of 56.9 and 53.8 during June-2023.Data from the GCC central banks showed a growth in lending across the region during Q2-2023 although the rate of growth decelerated in several markets during the quarter. Saudi Arabia recorded the strongest growth in outstanding credit facilities during Q2-2023 at 2.5%; while growth in Kuwait, Qatar, Bahrain and Oman were below 1%.The GCC banks continued to record growth in lending during Q2-2023 backed by growth in all markets in the GCC. Aggregate gross loans reached a new record high of $1.91tn, up 1.9% quarter-on-quarter (q-o-q) and 6.5% year-on-year (y-o-y).Saudi-listed banks reported the strongest q-o-q growth in lending at 2.7% to $640bn at the end of Q2-2023. Bahrain-listed banks were next with a growth of 2.5% in gross loans that reached $58bn; followed by UAE-listed banks with a growth of 2.1% to $529bn. Banks in Kuwait, Qatar and Oman reported slightly smaller growth in gross loans during the quarter.In terms of type of banks, conventional banks once again recorded a bigger growth in lending during the quarter with a growth of 2.2% to $1.3tn, while Islamic lender’s lending grew at almost half that pace of 1.3% to $596bn.The trend in net loan growth was almost in line with gross loan with aggregate net loans at $1.82tn at the end of Q2-2023 registering a q-o-q growth of 1.7%. The growth was led by higher net loans recorded in all GCC countries with Saudi Arabia recording the biggest growth of 2.8% q-o-q while that in Qatar was flat.The aggregate net interest margin (NIM) reported by the GCC-listed banks increased for the third consecutive quarter during Q2-2023 to 3.2% compared to 3.1% the previous quarter.The increase reflected elevated net interest income during the trailing twelve-month period adding additional rate hikes since the start of 2022. A smaller increase in earning assets also contributed to the growth in NIMs.The q-o-q growth in NIM was seen across the GCC banking sectors barring Qatar which reported a marginal decline during Q2-2023.The UAE-listed banks showed the biggest improvement in NIMs during the quarter with an increase of 16 bps to 3.44%, followed by Saudi Arabian banks at 3.23% and 3.05% by Qatari banks during Q2-2023.

The Qatar Stock Exchange (QSE) Sunday opened the week on a stronger note with its key index gaining 22 points, extending the bullish run for the second consecutive session. .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[70258]** Buying interests, especially in the telecom, transport, real estate, consumer goods and banking sectors led the 20-stock Qatar Index jump 0.21% to 10,386.51 points. The foreign individuals were seen net buyers in the main market, whose year-to-date losses narrowed further to 2.76%. About half of the traded constituents extended gains to investors in the main bourse, which touched an intraday high of 10,398 points. The foreign institutions turned bullish in the main market, whose capitalisation added QR1.54bn or 0.25% to QR613.85bn with small and microcap segments gaining the most. The Gulf funds continued to be net buyers but with lesser intensity in the main bourse, which saw a total of 1,845 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.01mn changed hands across four deals. The domestic institutions were seen increasingly into net profit booking in the main market, which saw no trading of sovereign bonds. The Islamic index underperformed the other indices in the main market, which saw no trading of treasury bills. The Total Return Index rose 0.21%, All Share Index by 0.18% and Al Rayan Islamic Index (Price) by 0.13% in the main bourse, whose trade turnover and volumes were on the decline. The telecom sector index soared 2.78%, transport (0.46%), real estate (0.39%), consumer goods and services (0.38%) and banks and financial services (0.28%); while industrials and insurance declined 0.77% and 0.21% respectively. Major gainers in the main market included Meeza, Widam Food, Ooredoo, Medicare Group, Doha Insurance, Qatar National Cement and Gulf Warehousing. Nevertheless, Qatar General Insurance and Reinsurance, Qatar Islamic Insurance, Lesha Bank, Estithmar Holding, Industries Qatar, Inma Holding and Al Khaleej Takaful were among the losers in the main bourse. In the venture market, Mahhar Holding saw its shares depreciate in value. The foreign individuals turned net buyers to the tune of QR1.72mn compared with net sellers of QR6.51mn on August 24. The foreign institutions were net buyers to the extent of QR0.42mn against net sellers of QR7.17mn last Thursday. The local individuals’ net selling declined perceptibly to QR5.83mn compared to QR10.64mn the previous trading day. However, the domestic funds’ net profit booking expanded considerably to QR13.64mn against QR1.21mn on August 24. The Gulf institutions’ net buying weakened noticeably to QR12.24mn compared to QR16.85mn last Thursday. The Arab individual investors’ net buying decreased considerably to QR4.82mn against QR8.02mn the previous trading day. The Gulf individual investors’ net buying eased marginally to QR0.27mn compared to QR0.66mn on August 24. The Arab institutions had no major net exposure for the second straight session. Trade volumes in the main market shrank 15% to 136.99mn shares, value by 24% to QR294.36mn and deals by 38% to 10,724. The venture market saw a 30% contraction in trade volumes to 0.73mn equities and 30% in value to QR1.56mn but on 43% growth in transactions to 170.

China's smaller cut in rates and the expectations of future interest rates from the global central bankers' meet in Jackson Hole had their reflections on the Qatar Stock .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[69511]** Exchange (QSE), which closed the week lower. The real estate, transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 207 points or 1.96% this week which saw the QSE launch covered short selling as well securities lending and borrowing mechanisms to spruce up the market. The local retail investors’ net profit booking pressure was instrumental in an overall bearish overhang on the main bourse this week which saw the listing of Meeza as the 51st constituent. The foreign retail investors were seen bearish in the main market this week which saw the QSE acting chief executive officer Abdulaziz Nasser al-Emadi disclose about three more listings in this year. About 69% of the traded constituents were in the red in the main bourse this week which saw FTSE Russell include Dukhan Bank and Qatari German Medical Devices in its mid and microcap indices. The Gulf institutions’ weakened net buying had its influence on the main market this week which saw Aamal Service bag QR15.4mn contract from the Ministry of Municipality. The Islamic index was seen declining slower than the main index this week which saw Estithmar Holding sign a memorandum of understanding with Ooredoo Qatar. The foreign funds continued to be net sellers but with lesser intensity in the main bourse this week which saw a total of 0.04mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.08mn trade across 11 deals. The domestic institutions were seen bullish in the main market this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.31mn change hands across 20 transactions. Market capitalisation eroded QR9.03bn or 1.45% to QR612.31bn on the back of large and midcap segments this week which saw the banks and industrials sectors together constitute about 58% of the total trade volume in the main market. The Total Return Index shed 1.96%, the All Share Index by 1.72% and the All Islamic Index by 1.94% this week, which saw no trading of sovereign bonds. The transport sector index plunged 2.82%, transport (2.21%), banks and financial services (2.07%), industrials (1.8%) and consumer goods and services (1.28%); while insurance gained 1.64% and telecom 0.62% this week which saw no trading of treasury bills. Major losers in the main bourse included Masraf Al Rayan, Al Khaleej Takaful, Ezdan, Mazaya Qatar, Qamco, Alijarah Holding, Commercial Bank, QGMD, Medicare Group, Baladna, Barwa, Industries Qatar, Nakilat, Milaha and Gulf Warehousing. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their equities depreciate in value this week. Nevertheless, Qatar Oman Investment, Qatar Insurance, Estithmar Holding, Mekdam Holding, Zad Holding and Widam Food were among the gainers in the main bourse this week. The local retail investors’ net selling increased substantially to QR73.04mn against QR5.74mn the week ended August 17. The foreign individuals turned net sellers to the tune of QR4.46mn compared with net buyers of QR16.04mn a week ago. The Gulf institutions’ net buying declined noticeably to QR47.62mn against QR53.13mn the previous week. However, the domestic funds were net buyers to the extent of QR63.5mn compared with net sellers of QR21.59mn the week ended August 17. The Arab retail investors turned net buyers to the tune of QR2.38mn against net profit takers of QR2.2mn a week ago. The Arab funds were net buyers to the extent of QR0.08mn compared with net sellers of QR0.13mn the previous week. The Gulf individuals turned net buyers to the tune of QR0.07mn against net profit takers of QR0.1mn the week ended August 17. The foreign funds’ net selling weakened perceptibly to QR36.15mn compared to QR39.41mn a week ago. The main market witnessed a 6% jump in trade volumes to 761.61mn shares, 3% in value to QR1.96bn and 13% in deals to 86,041 this week. In the venture market, trade volumes tanked 41% to 5.13mn equities, value by 37% to QR12.12mn on 46% in transactions to 899.

Qatar is one of the two countries among the core Islamic finance markets in the second-highest category, Group B, where the recoveries range from superior to poor, according to Fitch, a global credit rating agency.Fitch covers 14 out of the 57 member countries of the Organisation of Islamic Co-operation (QIC) in its updated country-specific treatment of recovery ratings criteria. Countries are split into four groups (A to D), with differing caps on instrument ratings and recovery ratings based on country-specific factors.More than half of the OIC countries are in Group D – the lowest level of recovery, while none are in Group A."The UAE and Qatar are the only countries among the core Islamic finance markets in the second-highest category, Group B, where the recoveries range from superior to poor," it said.Finding that sukuk restructuring scenarios continue to develop slowly and unevenly across various jurisdictions, it said so far distressed sukuk have been limited in most jurisdictions where sukuk issuance is prevalent; only 0.21% of all sukuk issued globally have defaulted as of end of first half of 2023.Furthermore, a number of distressed issuers and investors have preferred out-of-court consensual restructurings. Hence, there is a lack of restructuring and legal precedents relating to effective enforcement, despite the growth of the global sukuk market over the past decade.Sukuk issued on international capital markets are typically governed by English law, but a lack of legal precedents means it is often uncertain whether sukuk holders can enforce their contractual rights in local courts where the originator is domiciled, should this be necessary.This uncertainty also applies to conventional bonds issued in the same countries.Efforts to improve standardisation and comparability across different sukuk structures and legal frameworks have continued, including the creation of the Higher Shariah Authority in the UAE.Still, the enforceability of investor rights, recourse, debt ranking and recoveries upon issuer default could be complicated by the differences in underlying Islamic contractual arrangements.Most sukuk have created an economic effect similar to that of conventional bonds, but they can resemble equity-like investments. The issuance of hybrid sukuk, with equity- and debt-like components, is also growing.

The Qatar Stock Exchange on Thursday snapped three consecutive sessions of bearish run as it gained more than 32 points on the back of buying interests, especially in the industrials, consumer goods and real estate sectors.The Arab retail investors were seen increasingly into net buying as the 20-stock Qatar Index rose 0.31% to 10,364.71 points.The local retail investors’ substantially weakened net selling had its influence in the main market, whose year-to-date losses narrowed to 2.96%.More than 58% of the traded constituents were in the red in the main bourse, which touched an intraday high of 10,398 points.The Gulf institutions continued to be net buyers but with lesser vigour in the main market, whose capitalisation added QR2.72bn or 0.45% to QR612.31bn with midcap segments gaining the most.The foreign individuals were seen bearish in the main bourse, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn changed hands across six deals.The domestic institutions turned net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index outperformed the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.31%, All Share Index by 0.37% and Al Rayan Islamic Index (Price) by 0.44% in the main bourse, whose trade turnover and volumes were on the decline.The industrials sector index shot up 0.91%, consumer goods and services (0.71%), realty (0.64%) and banks and financial services (0.26%); whereas transport declined 0.36%, insurance (0.13%) and telecom (0.1%).Major gainers in the main market included Meeza, Qatar Oman Investment, Salam International Investment, Alijarah Holding, Estithmar Holding, Lesha Bank, Industries Qatar, QIIB, Qatari Investors Group, Qatar Industrial Manufacturing, Mazaya Qatar, Ezdan and Vodafone Qatar.Nevertheless, Doha Insurance, Qatar General Insurance and Reinsurance, Baladna, Dlala and Dukhan Bank were among the losers in the main bourse. In the venture market, Mahhar Holding saw its shares depreciate in value.The Arab individual investors’ net buying expanded considerably to QR8.02mn against QR1.39mn on August 23.The local retail investors’ net selling declined substantially to QR10.64mn compared to QR47.05mn on Wednesday.However, the foreign institutions were net sellers to the tune of QR7.17mn against net buyers of QR9.03mn the previous day.The foreign individuals turned net sellers to the extent of QR6.51mn compared with net buyers of QR1.97mn on August 23.The domestic institutions were net profit takers to the tune of QR1.21mn against net buyers of QR7.61mn on Wednesday.The Gulf institutions’ net buying weakened noticeably to QR16.85mn compared to QR25.22mn the previous day.The Gulf individual investors’ net buying eased marginally to QR0.66mn against QR1.75mn on August 23.The Arab institutions had no major net exposure compared with net buyers to the extent of QR0.08mn on Wednesday.Trade volumes in the main market tanked 10% to 161.49mn shares, value by 20% to QR385.57mn and deals by 31% to 17,263.The venture market saw about five-fold jump in trade volumes to 1.05mn equities and more than five-fold growth in value to QR2.22mn on more than doubled transactions to 119.

Awaiting hints on interest rates from the major central bankers’ meet in Jackson Hole, the Qatar Stock Exchange (QSE) Wednesday plummeted more than 122 points 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[68487]**capitalisation eroded QR5bn.An across the board selling, particularly in the industrials, led the 20-stock Qatar Index tank 1.17% to 10,332.38 points.The local retail investors turned net profit takers in the main market, whose year-to-date losses widened to 3.26%.More than 65% of the traded constituents were in the red in the main bourse, which touched an intraday high of 10,459 points.However, the Gulf institutions were increasingly net buyers in the main market, whose capitalisation melted 0.88% to QR609.59bn with mid and small cap segments losing the most.The foreign funds were seen bullish in the main bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.17mn changed hands across 13 deals.The domestic institutions were increasingly net buyers in the main market, which saw no trading of sovereign bonds.The Islamic index fell slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index shrank 1.17%, All Share Index by 1.12% and Al Rayan Islamic Index (Price) by 1.06% in the main bourse, whose trade turnover and volumes were on the rise.The industrials sector index plummeted 1.66%, banks and financial services (1.15%), real estate (0.99%), telecom (0.91%), consume goods and services (0.76%), transport (0.36%) and insurance (0.36%).Major losers in the main bourse included Inma Holding, Beema, Industries Qatar, Salam International Investment, Qatar Islamic Insurance, QNB, Commercial Bank, Masraf Al Rayan, Qamco, Mazaya Qatar, Ezdan, Vodafone Qatar, Gulf Warehousing and Nakilat. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value.Nevertheless, Meeza, Dlala, Gulf International Services, Milaha and Mannai Corporation were among the gainers in the main market.The local retail investors turned net sellers to the tune of QR47.05mn against net buyers of QR2.32mn on August 22.However, the Gulf institutions’ net buying increased substantially to QR25.22mn compared to QR2.68mn on Tuesday.The foreign institutions were net buyers to the extent of QR9.03mn against net profit takers of QR6.33mn the previous day.The domestic institutions’ net buying strengthened noticeably to QR7.61mn compared to QR3.4mn on August 22.The foreign retail investors turned net buyers to the tune of QR1.97mn against net sellers of QR1.06mn on Tuesday.The Gulf individuals were net buyers to the extent of QR1.75mn compared with net sellers of QR1.58mn the previous day.The Arab individual investors’ net buying expanded perceptibly to QR1.39mn against QR0.07mn on August 22.The Arab institutions turned net buyers to the tune of QR0.08mn compared with no major net exposure for the previous three sessions.Trade volumes in the main market soared 42% to 179.47mn shares, value by 44% to QR482.3mn and deals by 77% to 25,120.The venture market saw a 13% surge in trade volumes to 0.23mn equities but on 7% decline in value to QR0.41mn amidst flat transactions at 58.

Meeza, the country's first initial public offering (IPO) through book-building route, yesterday saw its shares vault 6% on debut in an otherwise bearish Qatar Stock Exchange (QSE).With this addition, the main market of the QSE now has a total of 51 listed companies, further enhancing its dynamic landscape. The shares of Meeza, a Qatar Foundation joint venture, were listed with the symbol "MEZA" under the consumer goods and services sector.The opening price was QR2.22, and the closing was recorded at QR2.30; representing a market capitalisation of QR1.49bn. The highest price during the session was QR2.535, while the lowest price was QR2.22. Its shares had risen more than 10% intraday.The offering price has been set at QR2.17, consisting of a nominal value of QR1 and an issuance premium of QR1.16, along with a listing fee of QR0.01 per share, based on the documents submitted by the company."The successful listing of Meeza marks a significant milestone in our continuous efforts to expand the scope of our listing companies. Meeza's expertise in the technology sector makes it a valuable addition to our diverse portfolio of listed companies," QSE acting chief executive officer Abdulaziz Nasser al-Emadi said.A total of 40.67mn shares valued at QR98.79 changed hands across 6,306 deals. Meeza accounted for about 76.75%, 77.34% and 81.61% of the trade volume, value and transactions in the consumer goods and services sector."This unprecedented step in the managed end-to-end IT services sector will give the investment community a promising investment option to grow their wealth and contribute to Qatar’s digital economy industry," said Sheikh Hamad bin Abdullah al-Thani, Meeza chairman.On the first day of listing, the company's share price was floated. However, as of the second day, price limits will be set at a fluctuation range of 10% upwards and downwards, in line with other listed companies in the market."As we continue to prioritise the growth of the technology sector within our market, Meeza's listing reinforces our commitment to providing investors with a wide array of investment opportunities. This move not only enhances the choices available to investors but also contributes to the further development of our market ecosystem," al-Emadi said.The inclusion of Meeza in the listing companies will undoubtedly contribute to the diversification of investment choices and the deepening of the market's strength, according to him.Ahmad Abdulla al-Muslemani, chief executive officer of Meeza, said its transformation to a publicly listed entity provides an opportunity for the investors to take part in the company’s journey and achievements, as it looks to continue its strong financial performance and revenue growth."This milestone will provide a great opportunity for us to bolster the Company’s already strong capital by increasing its shareholder base, which will support its ambitious growth and development targets," he said.The Meeza IPO was conducted through the 'book building' mechanism, which is used in many global and regional markets to determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.

Establishing voluntary carbon markets (VCMs) could further help incentivise businesses in the Middle East and North Africa (Mena) to think long term, as the region is an ideal staging ground for the growth and maturation of carbon markets, according to Nasdaq."The development and growth of sophisticated capital markets in Mena over the past 20 years means that the region is well-placed to support decarbonisation through channelling capital to carbon projects/initiatives," Nasdaq said in a white paper.Stressing that the opportunity is evident, and the region has made progress toward capitalising on VCM, it highlighted the Egyptian Exchange’s launch of a VCM as part of the COP27 summit.The exchange, which has recently worked with Qatar’s Global Carbon Council to list verified carbon credits, provides issuing Egyptian companies a link to both local and global investors.The objective is to spur investment in climate-mitigation projects, while also improving credit quality, market access and transparency.Capital markets in Mena have evolved greatly, becoming more sophisticated, resilient and reliable. However, various structural obstacles present a challenge to carbon credits growing and maturing as an asset class, according to the report."Overcoming these roadblocks will require stakeholders in the region to work in concert to solve problems at a root level and lay the building blocks for long-term growth," it said.As an area susceptible to climate change impacts, it said the Mena region is an ideal staging ground for the growth and maturation of carbon markets.Entities across the Mena capital markets spectrum must tackle the lack of awareness, standardisation, transparency and regulatory alignment before they can open the door to capital flows and meaningful climate change mitigation, it said."Building a strong infrastructure for developing, verifying, trading, registering and retiring these assets will be essential to those efforts and the realisation of benefits by countries, participants and populaces," the paper said.Opportunities are abound for climate action and investment — but to unlock those benefits, voluntary carbon markets need dependable infrastructure to drive market efficiency, transparency and integrity, it said, adding carbon credits are on the way to becoming an institutionalised financial asset.First introduced as part of the United Nations’ 1997 Kyoto Agreement, they were created to leverage market dynamics in controlling and reducing greenhouse gas emissions. Today, carbon credits are in wide use.Yet to make the next step towards becoming a fully-fledged asset class, market infrastructure needs to be improved and standardised to support better efficiency, transparency and access for all participants, according to the white paper.

Meeza, an established end-to-end Managed IT services and solutions provider based in Qatar, will Wednesday start trading on the Qatar Stock Exchange's (QSE) main market.This follows the approvals obtained from the Qatar Financial Markets Authority (QFMA) and the QSE's board, as well as the completion of all necessary technical, regulatory, and administrative procedures.With the listing of Meeza, the total number of companies listed on the QSE main market will increase to 51.The shares of Meeza will be listed with the symbol "MEZA" in QSE main market under the consumer goods and services sector.The offering price has been set at QR2.17, consisting of a nominal value of QR1 and an issuance premium of QR1.16, along with a listing fee of QR0.01 per share, based on the documents submitted by the company.On the first day of listing, the company’s price will be floated, and from the second day, it will be allowed to fluctuate by 10% up or down, similar to other listed entities in the market.All 648.89mn shares of Meeza will be listed, representing 100% of the total capital of the company.There will be no change in the trading session timing on the first day of listing, and the pre-open phase will commence at the usual time of 9:00am.As many as 324.49mn shares were offered for subscription, representing 50% of the total capital. Some 121.39mn shares were offered for qualified investors who participated in the book-building process, representing 18.71% of the capital, and 203.1mn shares for Qatari individual and corporate investors, representing 31.29% of the company's capital.The founders will retain the remaining percentage of the shares, which amounts to 324.49mn shares, representing 50% of the total capital of the company.The offering of Meeza shares was conducted through the 'book building' mechanism, which was used for the first time in Qatar.The book building mechanism, used in many global and regional markets, determine the share offering price by relying on qualified investors who have sufficient experience and knowledge and the necessary mechanisms for fair pricing of the security.