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The local currency debt market in Qatar is expected to gain traction with more issuers, especially banks, in the pipeline, according to a top official of Al Rayan Investment, a Masraf Al Rayan subsidiary."Between now and the end of 2025, we should have two or three more Qatari riyal sukuk issuances," Akber Khan, acting chief executive officer of Al Rayan Investment, told Gulf Times in an interview.Having debt issued in local currency is an important pillar to the development of any capital market, he said, adding Qatar was 15 years ahead of the region when it began to issue US dollar sovereign bonds and established a yield curve. The proceeds of those bonds were used to build out LNG (liquefied natural gas) infrastructure."After Estithmar, we are working with a second sukuk issuer," Khan said, adding the first issuer of a sukuk in Qatari riyal was a corporate.Estithmar Holding had issued a QR500mn sukuk, marking the first corporate issuance denominated in Qatari riyal, under its QR3.4bn programme.The three-year sukuk, maturing in September 2027, offers an 8.75% coupon and drew interest from government and non-government investors, including banks, insurers, asset managers and family offices."While risks are certainly very different, the 8.75% coupon is far more attractive than the prevailing deposit rates," he said, adding that with expectations of further cuts in interest rates, demand for this sukuk is set to increase further.QIIB had raised $500mn through sustainable sukuk in the first quarter of this year; the sovereign (Qatar) came out with twin green bonds of $1bn and $1.5bn in the second quarter of 2024, and Commercial Bank raised $265mn through Green bonds in the third quarter of 2024.Khan said that indications are that banks would also begin to issue local currency sukuk. He expects one or two issuances from the local banks in US dollars in the next month as well.Global credit rating agency Fitch had recently said in a report that the bank issuances are expected to continue as they replace upcoming maturities and strive to diversify their funding bases. Qatar’s DCM (debt capital market) reached about $130bn outstanding at the end of first half (H1) of 2024, same as end-H1-2023, with sukuk at 10% (H1-2023: 13%).Qatar’s debt capital market (DCM) issuance is expected to be broadly stable amid the government’s continued debt repayments and limited corporate DCM access, Fitch had said.

The Qatar International Court and Dispute Resolution Centre (QICDRC) has enacted Law No 16 of 2024, which allows single judge hearings, reduces appeal time to 30 days from 60 days and introduces new court fee regulations.The Law No 16 of 2024, issued by His Highness the Amir, amends certain provisions of the Qatar Financial Centre (QFC) Law No 7 of 2005; which seeks to expedite judicial procedures for resolving disputes with efficiency and quality to ensure litigants' rights, achieve swift justice and reduce litigation time.This comes in light of previous amendments to the QFC Law No 7 of 2005 and Law No 15 of 2021, which amended some provisions of Law No 34 of 2005 concerning free zones. These amendments extended the jurisdiction of QICDRC to include disputes in free zones and appeals against decisions of the Qatar Free Zones Authority.The latest amendment allows single judge hearings. The new law addresses the formation of the First Instance Circuit in the QFC Civil and Commercial Court and the QFC Regulatory Tribunal in response to the rising number of cases. Earlier, these chambers were composed of three judges.Under the new law, each chamber may be composed of a single judge or three judges, as determined by the president of the Civil and Commercial Court, depending on the nature and circumstances of the case.This change is designed to streamline the judicial process and improve procedural efficiency in both the QFC Civil and Commercial Court and the QFC Regulatory Tribunal.The amendment reduces the appeal period for judgments issued at the first instance of the QFC Civil and Commercial Court and the QFC Regulatory Tribunal from 60 days to 30 days. This change aligns with practices in other courts in the state and contributes to achieving swift justice and reducing litigation time.The introduction of new court fee regulations is intended to ensure the seriousness of disputes and deter frivolous claims, contributing to a more focused and efficient judicial system.These laws represent a significant advancement in our legal framework, and QICDRC is committed to supporting the implementation of these laws and ensuring that all legal professionals, stakeholders, and the general public are well-informed about the changes and their implications.Designed to have international standards in dispute resolution, QICDRC is part of the strategy of QFC to attract international business and financial services to Qatar. The judges hail from a variety of civil and common law jurisdictions including Qatar, England and Wales, Scotland, Cyprus, India, Hong Kong, China and South Africa.

Qatar's automobile sector showed demand strengthening in August 2024, as new registrations, especially those of the private vehicles, saw a robust two-digit growth, according to the official estimates.The country's automobile sector witnessed as many as 8,605 new registrations in August 2024, registering 14% and 11.3% growth on annualised and monthly basis respectively, according to the National Planning Council (NPC) data.The review period saw a total of 7,928 driving licenses issued with non-Qatari males constituting 5,738 or 72% of the total, non-Qatari females 1,433 or 18%, Qatari males 489 or 6% and Qatari females 268 or 4%. The total licenses issued jumped 0.6% month-on-month but declined 14.5% year-on-year in the review period.The registration of new private vehicles stood at 6,641; which shot up 27.5% and 8.6% on yearly and monthly basis respectively in August 2024. Such vehicles constituted 77.2% of the total new vehicles registered in the country in the review period.The registration of new private transport vehicles stood at 1,173; which was up 2.6% year-on-year but fell 2.4% month-on-month this August. Such vehicles constituted 13.6% of the total new vehicles in the review period.As many as 54 trailers were registered in August 2024, which zoomed 20% and 3.8% year-on-year and month-on-month respectively. They constituted 0.63% of the total new vehicles in the review period.The registration of new private motorcycles stood at 216 units, which decreased 13.9% on a yearly basis but grew 32.5% on monthly basis in August 2024. These constituted 2.5% of the total new vehicles in the review period.The registration of new heavy equipment stood at 131, which constituted 1.5% of the total registrations this August. Their registrations had seen 47.8% and 4.4% contraction year-on-year and month-on-month respectively in the review period.The new registration of other non-specified vehicles stood at 390 units, which tanked 39.6% on an annualised basis but surged 529% month-on-month in August 2024. They constituted 4.5% of the total new vehicles registered in the country in the review period.The registration was renewed in 72,845 vehicles, which reported a 0.2% rise year-on-year but fell 3.6% month-on-month in August 2024. It constituted 54.4% of the clearing of vehicle-related processes in the review period.The clearing of vehicle-related processes was seen in 133,901 units, which grew 6.7% on a yearly basis, while declined 2.8% month-on-month in the review period.The transfer of ownership was reported in 31,887 vehicles in August 2024, which was down 2.2% and 1.1% year-on-year and month-on-month respectively. It constituted 23.81% of the clearing of vehicle-related processes in the review period.The lost/damaged vehicles stood at 10,940 units, which shot up 222.4% on yearly basis but shrank 8.8% on monthly basis in August 2024. They constituted 8.17% of the clearing of vehicle-related processes in the review period.The number of cancelled vehicles was 3,652; which rose 49.9% year-on-year, even as it fell 5.1% month-on-month in August 2024. They constituted 2.73% of the clearing of vehicle-related processes in the review period.The modified vehicles’ registration stood at 3,256; which tanked 28% on an annualised basis but expanded 3.3% month-on-month in August 2024. They constituted 2.43% of the clearing of vehicle-related processes in the review period.The number of vehicles meant for exports stood at 2,716 units, which zoomed 25.5% year-on-year, whereas it shrank 7.6% month-on-month respectively this August. It constituted 2.03% of the clearing of vehicle-related processes in the review period.The re-registration was done in 121 vehicles, which plunged 11.7% and 14.2% year-on-year and month-on-month respectively this August. They constituted mere 0.1% of the clearing of vehicle-related processes in the review period.

Robust earnings expectations masked apprehensions over the geopolitical tensions in the region that the Qatar Stock Exchange (QSE) saw its key index gain as much as 224 points and capitalisation add more than QR14bn this week.The domestic institutions were increasingly net buyers as the 20-stock Qatar Index vaulted 2.13% this week which saw Qatar Islamic Bank report net profit of QR3.27bn in the first nine months (9M) of this year.The telecom, banking and real estate counters witnessed higher than average demand in the main bourse this week which saw Commercial Bank report net profit of QR2.34bn in 9M-2024.As much as 65% of the traded constituents extended gains to investors in the main market this week which saw Dukhan Bank’s 9M-2024 net profit at QR1.14bn.However, the local retail investors were increasingly net sellers in the main bourse this week which saw Woqod report net profit of QR771.3mn in January-September 2024.The foreign funds were seen increasingly bearish in the main market this week, which saw Ahlibank Qatar’s 9M-2024 net profit at QR647.15mn.The foreign retail investors were increasingly net profit takers in the main bourse this week which saw a total of 0.17mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.38mn trade across 39 deals.The Gulf institutions were increasingly net sellers in the main market this week which saw as many as 0.04mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.46mn change hands across 38 transactions.The Arab funds were seen net profit takers in the main bourse this week which saw the banking and realty sectors together constitute about 51% of the total trade volumes.The Islamic index was seen gaining slower than the other indices in the main market this week, which saw no trading of sovereign bonds.Market capitalisation added QR14.36bn or 2.33% to QR630.44bn on the back of large and midcap segments this week, which saw no trading of treasury bills.Trade turnover and volumes were on the increase in the main market this week, which saw Lesha Bank report net profit of QR96.64mn in 9M-2024.The Total Return Index zoomed 2.13%, the All Share Index by 2.12% and the All Islamic Index by 2.03% this week, which saw QSE disclose that it has started publishing daily report on buyback by companies.The telecom sector index shot up 3.88%, banks and financial services (2.56%), real estate (2.18%), insurance (1.98%), transport (1.75%), consumer goods and services (1.13%) and industrials (1.11%) this week which saw Qatar registered a robust double-digit year-year-on-year growth in tourists’ inflow -- especially from the Americas, Europe and Gulf regions this August; as its hospitality sector saw improved room yield, particularly in the four-star hotels and deluxe hotel apartment categories.Major gainers in the main market included Ezdan, Ooredoo, QIB, Dlala, Medicare Group, QNB, QIIB, Masraf Al Rayan, Woqod, Industries Qatar, Aamal Company, Qatar Industrial Manufacturing, Qatar Insurance, Barwa, Vodafone Qatar, Nakilat and Milaha. In the juniour bourse, Al Mahhar Holding and Techno Q saw their shares jump in value this week which saw Lesha Bank sign twin pacts with Barwa.Nevertheless, Al Faleh Educational Holding, Beema, Widam Food, Qatar German Medical Devices, Inma Holding, Estithmar Holding, Qamco and Gulf Warehousing were among the losers in the main market this week which saw Standard and Poor's (S&P), an international credit rating agency find that sustainable debt issuance from Qatar rose this year; even as the UAE and Saudi Arabia constituted the most of such issuances in the Middle East in the first nine months of this year.The domestic funds’ net buying increased substantially to QR641.98mn compared to QR156.01mn the week ended October 10.However, the Qatari individuals’ net selling increased significantly to QR266.73mn against QR65.98mn the previous week.The foreign institutions’ net selling strengthened considerably to QR204.82mn compared to QR49.95mn a week ago.The foreign individuals’ net selling expanded drastically to QR85.71mn against QR17.11mn the week ended October 10.The Gulf institutions’ net profit booking grew markedly to QR62.06mn compared to QR5.09mn the previous week.The Arab individual investors’ net selling expanded marginally to QR18.23mn against QR17.54mn a week ago.The Gulf retail investors’ net profit booking rose perceptibly to QR4.04mn compared to QR0.51mn the week ended October 10.The Arab institutions turned net sellers to the tune of QR0.3mn against net buyers of QR0.16mn the previous week.The main market witnessed a 7% jump in trade volumes to 897.59mn shares, 26% in value to QR2.45bn and 2% in deals to 72,435 this week.In the venture market, trade volumes grew more than six-fold to 2.48mn equities and value also by more than six-fold to QR6.35mn on more than tripled transactions to 257.

The Qatar Stock Exchange on Thursday treaded a flat path amid selling pressure at the telecom, insurance, real estate and banking counters.The foreign funds were seen increasingly into net selling as the 20-stock Qatar Index settled mere 0.02% lower at 10,733.4 points, but recovering from an intraday low of 10,634 points.The domestic institutions’ substantially weakened net buying had its influence on the main market, whose year-to-date losses widened to 0.9%.The Gulf retail investors were increasingly net profit takers in the main bourse, whose capitalisation melted QR0.84bn or 0.13% to QR630.44bn on the back of microcap segments.The local individuals continued to be net sellers but with lesser intensity in the main market, which saw .06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.38mn trade across 32 deals.The Islamic index was seen gaining vis-à-vis declines in the other indices in the main bourse, whose trade turnover and volumes were on the increase.The foreign individuals continued to be bearish but with lesser vigour in the main market, which saw no trading of treasury bills.The Arab funds were seen net buyers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was down 0.02% and the All Share Index by 0.05%, while the All Islamic Index was up 0.02% in the main market.The telecom sector index tanked 1.09%, insurance (0.56%), realty (0.54%) and banks and financial services (0.1%); while transport gained 0.36%, consumer goods and services (0.31%) and industrials (0.2%).About 65% of the trade constituents in the main bourse were in the red with major losers being Qatar General Insurance and Reinsurance, Qatar German Medical Devices, Commercial Bank, Ooredoo, Mazaya Qatar and Ezdan.In the venture market, Al Mahhar Holding saw its shares depreciate in value.Nevertheless, Milaha, Al Faleh Educational Holding, Doha Insurance, Baladna, Qatar Industrial Manufacturing and Vodafone Qatar were among the gainers in the main market.In the junior bourse, Techno Q saw its shares appreciate in value.The foreign institutions’ net profit booking increased substantially to QR83.24mn compared to QR40.93mn on October 16.The Gulf individual investors’ net selling expanded notably to QR2.58mn against QR0.86mn the previous day.The domestic institutions’ net buying decreased considerably to QR148.36mn compared to QR204.15mn on Wednesday.However, the Arab institutions turned net buyers to the tune of QR0.09mn against net sellers of QR0.39mn on October 16.The Qatari individuals’ net selling weakened significantly to QR46.17mn compared to QR100.55mn the previous day.The Gulf institutions’ net profit booking shrank drastically to QR9.67mn against QR27.58mn on Wednesday.The foreign individual investors’ net selling eased markedly to QR4.68mn compared to QR22.83mn on October 16.The Arab individual investors’ net profit booking fell noticeably to QR2.11mn against QR11.02mn the previous day.Trade volumes in the main market rose 9% to 189.28mn shares, value by 13% to QR598.58mn and transactions by 25% to 16,309.The venture market saw a 96% contraction in trade volumes to 0.04mn equities, 96% in value to QR0.11mn and 88% in deals to 10.

The Qatar Stock Exchange (QSE) will publish a daily report on shares bought back by listed companies.The report – updated daily after trading sessions starting October 17 – will be available in the disclosures section under Shares Buy Back Report on the home page of QSE website.The move comes after the Qatar Financial Markets Authority's (QFMA) decision No (3) of 2024 regarding regulations for share buybacks.The QFMA had in July this year issued 18-point new controls for a company's buyback of its own shares with the intention of selling.These new controls – which stipulate that the company shall be committed to funding buyback transactions from the balance of its voluntary reserves and realised profits and shall be prohibited from funding the buybacks in any other manner – fall within the framework of the QFMAs endeavours to develop the Qatari capital market and bolster investor confidence.These new controls represent a major step towards enhancing investor protection and ensuring market stability, which, in turn, will enhance corporate governance as well as the efficiency of the Qatari capital market.The new controls stipulated that the QFMA and the market shall be notified of the board's resolution to buyback a percentage of the company's shares immediately upon its issuance.The QFMA and the market shall be notified of the board of directors' resolution to buyback a maximum of 10% of the fully-paid issued shares or to purchase the shares in excess of the ownership limit stipulated in the company's Articles of Association within two days as of the date of the issuance of the board of directors' resolution approving the buyback transaction, whilst attaching the documents required by the QFMA to finalise the transaction thereof.The company should complete the execution of the buyback transaction within a period not exceeding six months as of the date of the QFMA's approval.In case the transaction is not completed, the company shall be committed to justify the same to QFMA during the first business day following the end of prescribed period.The company shall sell the repurchased shares after the lapse of the prohibition period and no later than 24 months as of the date of the last buyback. If the selling transaction is not executed within the period, the matter has to be reported to the QFMA for taking appropriate measures.

Earnings sentiments overshadowed the regional uncertainties in the Qatar Stock Exchange (QSE), which on Tuesday gained as much as 165 points on an across the board buying and capitalisation added more than QR9bn.The domestic institutions were increasingly net buyers as the 20-stock Qatar Index rose 1.57% to 10,642.47 points, recovering from an intraday low of 10,480 points.The telecom, banks and transport counters witnessed higher than average demand in the main market, whose year-to-date losses truncated to 1.74%.More than 80% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR9.26bn or 1.5% jump to QR626.4bn on the back of large cap segments.However, local retail investors were increasingly bearish in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn trade across seven deals.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The foreign institutions were seen increasingly into net selling in the main market, which saw no trading of treasury bills.The foreign individuals were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index gained 1.57%, the All Islamic Index by 1.29% and the All Share Index by 1.5% in the main market.The telecom sector index shot up 2.36%, banks and financial services (1.79%), transport (1.73%), industrials (1%), realty (1%), insurance (0.999%) and consumer goods and services (0.53%).Major movers in the main bourse included Ooredoo, Qatar German Medical Devices, Doha Insurance, Masraf Al Rayan, Nakilat, Qatar Islamic Bank, Commercial Bank, Doha Bank, QNB, Industries Qatar, Estithmar Holding, Mazaya Qatar, Barwa and Milaha. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Vodafone Qatar, Meeza, Dlala, Qatar National Cement and Al Meera were among the shakers in the main market.The domestic funds’ net buying increased substantially to QR192.39mn compared to QR46.63mn on October 14.However, the Qatari individuals’ net selling grew significantly to QR77.63mn against QR0.51mn the previous day.The foreign funds’ net profit booking strengthened drastically to QR50.64mn compared to QR24.65mn on Sunday.The foreign individual investors’ net selling expanded markedly to QR27.54mn against QR18.1mn on October 14.The Gulf institutions turned net sellers to the tune of QR27.22mn compared with net buyers of QR0.58mn the previous day.The Arab individual investors’ net profit booking rose noticeably to QR7.68mn against QR4.38mn on Sunday.The Gulf retail investors were net sellers to the extent of QR1.69mn compared with net buyers of QR0.42mn on October 14.The Arab institutions had no major net exposure for the fifth straight session.Trade volumes in the main market grew 22% to 223.68mn shares, value by 96% to QR710.79mn and transactions by 43% to 20,672.In the venture market, trade volumes grew almost six-fold to 1.11mn equities and value almost quadrupled to QR2.56mn on more than doubled deals to 90.

The Arab iron and steel industry, whose production at present is low against global levels, need to reinforce its position on the international front; requiring innovation and investments in advanced technology, HE Saad bin Sherida al-Kaabi, the Minister of State for Energy Affairs, told the 17th Arab Steel Summit, which got underway on Monday.“This year witnessed a strong demand for steel across the region, driven by big infrastructure projects and a robust real estate market. However, Arab countries produce around 40mn tonnes of iron and steel annually out of a global production of around 2bn tonnes,” HE al-Kaabi told the summit in the presence of Arab Iron and Steel Union (AISU) chairman Awwad al-Khaldi and its Secretary-General, Dr Kamel Djoudi.This (lower production vis-à-vis global output) highlights the challenge to enhance (the Arab region’s) position on the global map and to stimulate the growth of the industry and enhance its competitiveness on all levels, HE al-Kaabi added.Stressing the need to find proper solutions to strike a balance among economic, social and governmental goals, particularly on lowering the carbon footprint, which is the cornerstone of all sustainability strategies; he said Qatar Steel, since 1978, has maintained a low carbon footprint, thanks to the use of the Midrex technology and use of electrical arc ovens, which lowered carbon dioxide emissions to less than 50% of the global average.The Arab steel industry must dedicate special interest to investing in advanced technologies and the innovation culture because the future belongs to those who are able to invest in research, development and AI (artificial intelligence) processes, he said.Finding that the world has seen a rise in demand on iron and steel across the region, owing to mega-infrastructure projects and the booming realty market in several Arab capitals and cities; HE al-Kaabi said the strategic value of the iron and steel industry is rising as the requirements are increasing in order to boost development and advancement.The event, organised by the AISU under the theme, ‘The Future of the Iron and Steel Industry in the Arab World’, saw HE al-Kaabi and al-Khaldi jointly inaugurate the International Iron and Steel Exhibition."The steel industry plays a pivotal role in the economic development of the Arab region. Its importance extends beyond providing a fundamental building material to driving industrialisation, creating jobs, and enhancing energy security. A strong and competitive steel industry is essential for the region's sustainable growth and prosperity,” AISU said.

Seeking the removal of protectionist measures that hinder the growth of steel industry, Qatar on Monday suggested regional integration through more bilateral and multilateral pacts and efforts by Arab steel producers to capitalise on the opportunities in the rapidly growing emerging markets such as Asia and Africa."We are seeing really a very rapid growth in demand in Asia and Africa...This throws greater opportunities for the Arab countries to tap into these markets and to try to optimise the production and qualities of their products in order really to meet the growth in these regions," Sultan al-Khater, consultant to HE the Minister of Commerce and Industry, told the 17th Arab Steel Summit, which got underway on Monday.Apart from tapping the markets, he said, there was a need for additional investments and focus on technology.His comments come amidst an update released by Tthe World Steel Association on short range outlook for 2024 and 2025, which forecasts that steel demand in other emerging economies of the world, such as the Middle East and North Africa and the Association of Southeast Asian Nations regions, is expected to rebound in 2024 after a significant slowdown over 2022-23.In this regard, al-Khater highlighted that infrastructure projects in Africa are "tremendous", which offer larger scope for the Arab steel producers.Stressing that energy security is a pivotal element for this industry, he said Qatar has tapped into this field and since the early 1990s, and the country has demonstrated to the world that it can contribute to the ecosystem, growth and development worldwide by producing clean energy.Highlighting that Qatar's industrial and free zones are attracting investors and industries due to the advantage of global access, low cost energy and incentives as tax exemptions and waivers; he said Arab steel producers have to tap into these opportunities and open up to the markets around the region.This came as response to remark made by Joachim Schroeder, chairman and chief executive officer of Research and Consulting Group, that the European steel manufacturers now have difficult time due to energy prices, "which have gone over the roof".Reminding that the trade policy and protectionist measures are hindering the growth of steel and other industries; al-Khater said there are lots of corridors and paths that can be taken to mitigate the negative impacts (of those protectionist measures)."We need to look at increasing more of regional integration and alignments, among countries and steel producers and suppliers by (going in for) more bilateral as well and multilateral agreements and free trade agreements in order to mitigate these kind of barriers," he said, adding the Arab steel producers could benefit from the economic blocs that exist today within the North Africa, the Middle East and the Gulf Cooperation Council."There are so many agreements that facilitate the exchange and the momentum that the steel industry needs," said al-Khater.

The Qatar Stock Exchange on Sunday opened the week weak with its key index losing as much as 16 points on selling pressure, especially at the banks and industrials counters.The local retail investors hurriedly squared off their position as the 20-stock Qatar Index fell 0.15% to 10,493.3 points, although it touched an intraday high of 10,530 points.The foreign individuals were increasingly net profit takers in the main market, whose year-to-date losses widened to 3.11%.About 53% of the traded constituents were in the red in the main bourse, whose capitalisation however saw QR0.75bn or 0.12% gain to QR616.83bn on the back of microcap segments.The foreign institutions were seen increasingly bearish in the main market, which saw 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.19mn trade across 23 deals.The Islamic index was seen declining slower than the other indices in the main bourse, whose trade turnover fell amidst higher volumes.The Gulf institutions’ weakened net buying had its influence on the main market, which saw no trading of treasury bills.The domestic funds were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was down 0.15%, the All Islamic Index by 0.06% and the All Share Index by 0.05% in the main market.The banks and financial services sector index declined 0.24% and industrials 0.23%; while insurance gained 1.45%, real estate (0.73%), telecom (0.36%), consumer goods and services (0.16%) and transport (0.11%).Major shakers in the main bourse included Al Faleh Educational Holding, Beema, Qatar German Medical Devices, Estithmar Holding, Doha Bank, Qatari Investors Group and Industries Qatar.In the venture market, Al Mahhar Holding saw its shares depreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Ezdan, Zad Holding, Dlala and Qatar Insurance were among the gainers in the main bourse.In the junior market, Techno Q saw its shares appreciate in value.The Qatari individuals turned net sellers to the tune of QR41.87mn compared with net buyers of QR2.11mn on October 10.The foreign individuals’ net selling increased marginally to QR12.59mn against QR11.8mn the previous trading day.The foreign institutions’ net profit booking strengthened perceptibly to QR5.36mn compared to QR4.31mn last Thursday.The Gulf institutions’ net buying weakened noticeably to QR1.83mn against QR2.74mn on October 10.However, the domestic funds’ net buying rose substantially to QR50.45mn compared to QR15.59mn the previous trading day.The Arab individuals were net buyers to the extent of QR6.85mn against net sellers of QR4.8mn last Thursday.The Gulf individual investors’ net buying grew marginally to QR0.68mn compared to QR0.46mn on October 10.The Arab institutions had no major net exposure for the fourth straight session.Trade volumes in the main market grew 26% to 127.71mn shares, while value was down 1% to QR250.06mn and transactions by 22% to 7,985.In the venture market, trade volumes almost tripled to 0.14mn equities and value also almost tripled to QR0.46mn on a 70% surge in deals to 34.

Qatar registered a robust double-digit year-year-on-year growth in tourists’ inflow – especially from the Americas, Europe and Gulf regions this August; as its hospitality sector saw improved room yield, particularly in the four-star hotels and deluxe hotel apartment categories, according to the official estimates.The occupancy comes amidst 328,059 visitor arrivals in August 2024. On a yearly basis, the total inflow of visitors rose 24.5% and 3.3% year-on-year and month-on-month respectively in the review period, according to the National Planning Council (NPC).The visitors from the Gulf Co-operation Council or GCC were 133,319 or 41% of the total, Europe 70,600 (22%), other Asia (including Oceania) 65,634 (20%), Americas 28,219 (9%), other Arab countries 22,163 (7%), and other African countries 8,124 (2%) in August 2024.On an annualised basis, the visitor arrivals from the Americas surged 56.5%, Europe by 45%, other African countries by 38.9% and the GCC by 18.4%; while those from other Arab countries declined 29.8% and other Asia, including Oceania by 7.2% in the review period.On a month-on-month basis, the visitor arrivals from Europe shot up 29.7%, Americas by 23.3%, other African countries by 18.9% and other Arab countries by 8.7%; whereas those from the GCC were down 9.1% and other Asia, including Oceania, by 1.1% in August 2024.Qatar's hospitality sector saw a 3.64% year-on-year increase in revenue-per-available room to QR228 as occupancy improved by 7% to 60%, while average room rate fell by 8.7% to QR378 in August 2024.The four-star hotels saw a 13% higher occupancy to 63% and revenue per available room rose by 5.88% to QR126; whereas average room rate plunged 15.68% to QR199 in August 2024.The deluxe hotel apartments registered a 15% surge in occupancy to 70% and revenue per available room by 23.68% to QR235 although there was 2.89% shrinkage in average room rate to QR336 in the review period.However, the five-star hotels' room yield shrank 3.06% year-on-year to QR285 despite 4% rise in occupancy to 53% amid 8.74% contraction in average room rate to QR543 in the review period.The three-star hotels' occupancy shot up 6% to 77%; even as room yield was down 5.56% to QR119 and average room rate by 13.97% to QR154 in the review period.The two-star and one-star hotels' occupancy declined by 5% to 84%, room yield by 11.76% to QR120 and average room rate by 7.19% to QR142 in August 2024.In the case of standard hotel apartments, occupancy tanked 20% to 52%, room yield by 30.86% to QR112 and average room rate by 4% to QR216 in August 2024.

The Qatar Financial Centre Regulatory Authority (QFCRA) has issued a warning to investors and the public about a fraudulent website operating under the domain “www.aaqinvestment.com”. This website falsely advertises financial services such as loans, banking products, and investments, and falsely represents itself as the official website of AAQ Investment, operating under the domain “https://aaqholding.com”, a legitimate licensed firm in the QFC. Despite claims on this fraudulent website that it is a Qatari company; the website has no connection to AAQ Investment, the QFC or Qatar. "The QFCRA advises the public to disregard this website, avoid clicking on any links, and refrain from providing any personal information," it said. AAQ Investment has no association with this website and does not provide financial services to the public. AAQ Investment is only licensed by the QFC Authority to provide the business of holding companies. The QFCRA strongly cautions against interacting with the representatives listed on “www.aaqinvestment.com” for financial services or with anyone claiming to offer financial services on behalf of AAQ Investment. “The QFCRA is committed to safeguarding consumers and takes every necessary action to combat fraudulent entities targeting investors and the public. We urge everyone to stay vigilant and always verify the identity of financial services firms and their representatives before engaging with them,” said Farah al-Muftah, Managing Director at the QFCRA. The QFCRA is an independent regulatory body established in 2005 by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorise, supervise and, when necessary, discipline firms and individuals. The QFCRA regulates firms using principle-based legislation of international standard, modelled closely on that used in major financial centres.

Qatar's venture capital (VC) ecosystem's outlook is "positive" this year and Qatar Sportstech Accelerator has invested as much as $40,000 to $250,000 in several startups at the seed and pre-seed stages, according to Pulsar VC, an international platform that supports entrepreneurs and investors to grow global technology leaders."Expectations for 2024 are more positive, especially with the launch of Qatar's first VC fund of $1bn, aimed at energising the regional startup scene," Pulsar VC said in its latest report.This fund plans to invest mostly through other VC funds while also engaging in select co-investments with those funds, it said, adding the country also introduced its Startup Qatar Investment Programme, supported by a $100mn fund managed by the Qatar Development Bank, further boosting the entrepreneurial environment.The Qatar Business Incubation Center and the QDB emerged as the most prominent investors of the year, actively participating in deals throughout 2023, it said, highlighting that the year also marked the debut of Rasmal Ventures, the first independent VC firm in Qatar.The country's biggest funding rounds in 2023 included Snnonu, which raised $12mn; else ($4.1mn); AT-HOME-DOC ($1.9mn); C-Wallet ($1.1mn); and Muallemi ($0.55mn), the report said, adding of the 2023 funding rounds, 37% went ton manufacturing, 15% to fintech or financial technology and 12% in healthcare.Terming 2023 as a "difficult" year for Qatar’s startup ecosystem with it experiencing the lowest venture investments in terms of deal numbers seen in the past four years; it said the 61% decline in Qatar reflects wider patterns as the Middle East and North Africa or Mena region saw a 23% drop in investment and the global VC environment faced a 42% reduction.Highlighting that Qatar's sports industry has witnessed remarkable growth, particularly as the host of 2022 FIFA World Cup, and is slated to reach a market size of $3.7bn by 2025; Pulsar said the country has introduced the regional first sports business district 'Aspire Zone' aiming to bolster its position as a burgeoning international hub for sports business.According to the available deal information, the Qatar SportsTech accelerator has invested in several startups at the seed and pre-seed stages, with investments amounts ranging from $40,000 to $250,000.The accelerator has reportedly invested in Golazzos, a social platform for football sports predictions; Fancision, a blockchain-based app to engage and monetise football fans with trivias and minigames; and Classtap, a platform that provides access to multiple gyms through one membership.Qatar has been progressively building a more inviting business environment, striving to attract investors by aligning its commercial and tax systems with global standards such as those of the OECD or the Organisation for Economic Co-operation and Development.The report said similar to its Gulf Co-operation Council or GCC partners, Qatar aims to broaden its economic base and investing in cutting-edge economic sectors.As much as 37% of VC is allocated to the industrial and manufacturing sector with fintech and healthtech following as the second and third most favoured areas for capital investment respectively, it added.Qatar has significantly enhanced its appeal to foreign investors by developing specialised zones such as the Qatar Financial Centre, Qatar Science and Technology Park and Qatar Media City, which offer beneficial tax and labour conditions. Additionally, through the foreign investment law, overseas investors can avoid the typical 49% ownership restriction and requirement for minimum capital in limited liability companies with foreign involvement has been eliminated."These improvements aim to so simplify business operations and make Qatar a more attractive investment destination," the report said.

Heightened geopolitical tensions in the region notwithstanding, the Qatar Stock Exchange (QSE) was in the positive trajectory with its key index gaining as much as 44 points and capitalisation adding QR2.75bn this week.The domestic institutions were seen increasingly into net buying as the 20-stock Qatar Index rose 0.42% this week which saw QNB report net profit of QR12.71bn in January-September 2024.The banking and transport counters witnessed higher than average demand in the main this week which saw Milaha win a long-term contract valued at QR792mn from North Oil Company.The Gulf institutions’ weakened net profit booking had its influence in the main market this week which saw Gulf International Services’ subsidiary Al Koot Insurance and Reinsurance plan to get listed on the local bourse.The Arab funds continued to be bet buyers but with lesser intensity in the main bourse this week which saw Qatar Steel, an Industries Qatar subsidiary, receive a non-binding offer for the acquisition of its entire equity holding in Bahrain-based Foulath Holding.The foreign funds were seen increasingly bearish in the main market this week, which saw Lesha Bank complete the acquisition of Bereke Bank in Kazakhstan.The local retail investors turned net profit takers in the main bourse this week which saw a total of 0.45mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.98mn trade across 115 deals.The foreign individuals were increasingly net sellers in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.06mn change hands across six transactions.The Gulf individuals turned net sellers in the main bourse this week which saw the banking, consumer goods and industrials sectors together constitute more than 73% of the total trade volumes.The Islamic index was seen declining vis-à-vis gains in the other indices in the main market this week, which saw no trading of sovereign bonds.Market capitalisation added 0.45% to QR616.08bn on the back of small and microcap segments this week, which saw no trading of treasury bills.Trade turnover and volumes were on the decline in the main market this week, which saw Qatar Electricity and Water Company (QEWC), in cooperation and Qatar General Electricity and Water Corporation, plan to build, own and operate peak units with a production capacity of 500 megawatts.The Total Return Index gained 0.42% and the All Share Index by 0.51%, while the All Islamic Index fell 0.31% this week, which saw Ooredoo raise $500mn through its oversubscribed bonds.The banks and financial services sector index shot up 1.1%, transport (0.64%), industrials (0.17%) and insurance (0.09%); while real estate declined 1.76%, consumer goods and services (0.93%) and telecom (0.37%) this week which saw QNB commence its buyback scheme.Major gainers in the main market included Qatar General Insurance and Reinsurance, Al Faleh Educational Holding, QIIB, QNB, Commercial Bank, Doha Bank, Lesha Bank, Baladna and Nakilat. In the junior bourse, Al Mahhar Holding and Techno Q saw their shares jump in value this week which saw Qatar Financial Centre view that a sustained growth in business conditions in Doha’s non-energy private sector led employment reach a record high in September 2024 as companies boost capacity.Nevertheless, about 61% of the traded constituents were in the red with major losers being Qatar German Medical Devices, Medicare Group, Barwa, Al Khaleej Takaful, Vodafone Qatar, Masraf Al Rayan, Dukhan Bank, GIS, Estithmar Holding, Qamco, QLM and Mazaya Qatar this week.The domestic funds’ net buying increased substantially to QR156.01mn compared to QR57.77mn the week ended October 3.The Gulf institutions’ net profit booking decreased substantially to QR5.09mn against QR36.62mn the previous week.However, the Qatari individuals turned net sellers to the tune of QR65.98mn compared with net buyers of QR9.16mn a week ago.The foreign funds’ net selling strengthened considerably to QR49.95mn against QR11.83mn the week ended October 3.The Arab individuals’ net profit booking expanded markedly to QR17.54mn compared to QR7.76mn the previous week.The foreign individual investors’ net selling was up marginally to QR17.11mn against QR16.7mn a week ago.The Gulf retail investors were net sellers to the extent of QR0.51mn compared with net buyers of QR4.54mn the week ended October 3.The Arab institutions’ net buying eased perceptibly to QR0.16mn against QR1.43mn the previous week.The main market witnessed a 12% contraction in trade volumes to 841.72mn shares, 12% in value to QR1.95bn and 9% in deals to 71,222 this week.In the venture market, trade volumes tanked 75% to 0.38mn equities, value by 70% to QR1.05mn and transactions by 45% to 32.

The Qatar Stock Exchange (QSE) on Tuesday entered the second day of bullish run with its key index gaining as much 61 points to cross the 10,500 levels and capitalisation add about QR5bn.A higher than average demand, especially at the transport, telecom, banks and real estate counters lifted the 20-stock Qatar Index 0.58% to 10,512.2 points, although it touched an intraday low of 10,440 points.The foreign institutions were seen net buyers in the main market, whose year-to-date losses truncated to 2.94%.More than 84% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR4.7bn or 0.77% to QR616.34bn on the back of midcap segments.The Gulf retail investors were increasingly net buyers in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn trade across 14 deals.The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.The local individuals’ substantially weakened net profit booking had its influence in the main market, which saw no trading of treasury bills.The domestic institutions continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.58%, the All Islamic Index by 0.31% and the All Share Index by 0.73% in the main market.The transport sector index shot up 1.31%, telecom (1.29%), banks and financial services (0.98%), real estate (0.69%), insurance (0.34%) and industrials (0.07%); while consumer goods and services declined 0.05%.Major movers in the main bourse included Al Faleh Educational Holding, Inma Holding, Qatar General Insurance and Reinsurance, Gulf International Services, Qatari Investors Group, QNB, Doha Bank, Lesha Bank, Mazaya Qatar, United Development Company, Ooredoo and Nakilat.In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Beema, Woqod, Qatar Electricity and Water, Qatar Islamic Bank and Industries Qatar were among the losers in the main market.The foreign institutions turned net buyers to the tune of QR2.55mn compared with net sellers of QR11.32mn on October 7.The Gulf individual investors’ net buying increased marginally to QR0.78mn against QR0.68mn the previous day.The Qatari retail investors’ net profit booking declined noticeably to QR25.11mn compared to QR34.59mn on Monday.The Gulf institutions’ net selling weakened perceptibly to QR2.28mn against QR11.32mn on October 7.However, the foreign individuals were net sellers to the extent of QR9.84mn compared with net buyers of QR1.02mn the previous day.The domestic institutions’ net buying declined drastically to QR29.55mn against QR46.62mn on Monday.The Arab individual investors’ net buying fell notably to QR4.34mn compared to QR8.73mn on October 7.The Arab institutions had no major net exposure against net buyers to the tune of QR0.16mn the previous day.Trade volumes in the main market were up less than 1% to 188.52mn shares, value by 2% to QR448.94mn and transactions by 7% to 17,443.In the venture market, trade volumes almost tripled to 0.08mn equities and value more than doubled to QR0.19mn on 67% jump in deals to 15.

Notwithstanding the rising geopolitical tensions in the region, the Qatar Stock Exchange on Monday gained more than 39 points on the back of buying interests, especially at the consumer goods, real estate and industrials counters.The Arab retail investors turned net buyers as the 20-stock Qatar Index rose 0.38% to 10,451.34 points, recovering from an intraday low of 10,379 points.The foreign individuals were seen bullish in the main market, whose year-to-date losses truncated to 3.5%.More than 82% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR2.65bn or 0.44% to QR611.04bn on the back of small cap segments.The Arab institutions were seen net buyers in the main market, which saw 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.35mn trade across 37 deals.The Islamic index outperformed the other indices in the main bourse, whose trade turnover and volumes were on the increase.The foreign institutions’ weakened net profit booking had its influence in the main market, which saw no trading of treasury bills.The Gulf individuals were seen increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.38%, the All Islamic Index by 0.56% and the All Share Index by 0.36% in the main market.The consumer goods and services sector index shot up 1.44%, realty (1.12%), industrials (0.62%), telecom (0.36%), transport (0.28%) and banks and financial services (0.13%); while insurance declined 0.37%.Major movers in the main bourse included Al Faleh Educational Holding, Beema, Aamal Company, QLM, Alijarah Holding, QIIB, Lesha Bank, Qatar German Medical Devices, Salam International Investment, Woqod, Widam Food, Qamco, Mesaieed Petrochemical Holding, Mazaya Qatar and Ezdan.In the venture market, techno Q saw its shares appreciate in value.Nevertheless, Qatar Insurance, Qatar National Cement, Doha Insurance, Qatar Islamic Bank and Dukhan Bank were among the losers in the main market.In the junior bourse, Al Mahhar Holding saw its shares depreciate in value.The Arab individuals turned net buyers to the tune of QR8.73mn compared with net sellers of QR22.43mn on October 6.The foreign retail investors were net buyers to the extent of QR1.02mn against net sellers of QR1.63mn the previous day.The Gulf individual investors’ net buying increased marginally to QR0.68mn compared to QR0.29mn on Sunday.The Arab institutions turned net buyers to the tune of QR0.16mn against no major net exposure on October 6.The foreign institutions’ net selling decreased substantially to QR11.32mn compared to QR31.25mn the previous day.However, the Qatari retail investors’ net profit booking expanded significantly to QR34.59mn against QR10.89mn on Sunday.The Gulf institutions’ net selling strengthened noticeably to QR11.32mn compared to QR2.34mn on October 6.The domestic funds’ net buying weakened markedly to QR46.62mn against QR68.26mn the previous day.Trade volumes in the main market rose 11% to 187.84mn shares, value by 10% to QR440.92mn and transactions by 16% to 16,354.The venture market saw 25% contraction in trade volumes to 0.03mn equities and 10% in value to QR0.09mn but on 29% jump in deals to 9.

Senior officials of financial intelligence units, law enforcement and financial and non-financial regulatory bodies in the Middle East and North Africa (Mena) gathered on Monday in Doha for the ninth edition of Mena Financial Action Task Force (MENAFATF) meeting in view of emerging threats, especially the violation, non-implementation or evasion of the application of targeted financial sanctions related to terrorist financing.Hamad Ahmed al-Mulla, Assistant Governor for Supervision at the Qatar Central Bank (QCB), inaugurated the four-day meeting, themed 'Typologies and Building Capacity Workshop', which falls within the framework of implementing the decisions of the 37th meeting of the MENAFATF in December 2023 in Nouakchott, Mauritania."Our countries face complex patterns of money laundering and terrorist financing, which undermine their governments' efforts to combat them, make the measures they take towards them less effective, and pose challenges that require applications to understand them," al-Mulla said in his opening address.Highlighting the need to exchange experiences for better understanding the various and advanced methods used to launder money, finance terrorism, and finance the proliferation of weapons, and to provide decision-makers and policy experts with practical information to develop strategies to combat these challenges and to be able to address them efficiently; he said the private sector, a key partner in the field of combating money laundering and terrorist financing, has also been involved to ensure the effective implementation of and adherence to international standards."We cannot overlook the role of civil society organisations, which play a significant and effective part in enhancing policies and practices to combat money laundering and terrorism financing. This also contributes to strengthening the safety and security of the global financial system,” he said.Essa al-Hardan, Secretary of the National Committee for Combating Money Laundering and Terrorism Financing in Qatar and Head of the Technical Assistance and Typologies Working Group at MENAFATF, said the application framework is based on the process of collecting and analysing information and individual case studies."As for capacity building, special emphasis will be placed on the importance of technology and data analysis systems in detecting money laundering and terrorist financing and on the role of civil society in enhancing the effectiveness of parallel financial investigations," he said.The National Committee for Combating Money Laundering and Terrorist Financing attaches utmost importance to this aspect in the context of implementing the measures recommended in Direct Outcome 5 of the Mutual Evaluation Report of Qatar issued in May 2023 and its ongoing work to align its legislation with the latest amendments to Recommendations 24 and 25 of the FATF recommendations, according to him.

Golden Gate Ventures' $100mn Mena Fund I, the first global venture capital fund to be established and managed within Qatar, is looking at investing in at least a dozen local entities as it finds potential, especially in B2B fintechs, according to its top official.The Mena (Middle East and North Africa) Fund 1, which is expected to be closed for subscription early next year, is aiming at robust double-digit returns to its investors, as has been the case with its Asia funds, its partner Michael Lints told Gulf Times in an interview.Referring to its maiden Mena Fund 1 for which $20mn came from bigwigs in Qatar, he said: "We are very much on track at the moment" (to hit the target).The first close of its $100mn Mena Fund I backed by the pillars of Qatar’s private business community represents a major step forward in Golden Gate Ventures’ ambitions to drive innovation and entrepreneurship in the region.Al Khor Holding, Al Attiya Group and Sheikh Jassim bin Jabor al-Thani are the anchor investors for the fund, which has on-boarded a few of Golden Gate Ventures’ investors from its Asia funds.Asked about the present status of the fund, Lints said: “We are closing it early next year, but we are already investing from it (the fund)."The fund, which was unveiled at this year's Qatar Economic Forum, focuses on powering startups in key sectors such as alternative energy, green technology, B2B Artificial Intelligence, and energy-related deep tech. Other strategic sectors that the fund will cover include fintech, healthtech, and edtech, which will further Qatar’s economic diversification agenda.Appreciative of the supportive (Qatar) government and the willingness of family offices to cooperate and invest; he said: “It has become a very conducive environment to not only be here, but put capital to work and then starting to invest.”Golden Gate already has about nine companies (in its portfolio) that have expanded in the Mena region and two companies (from the portfolio) are now expanding in Qatar, according to him.Although it is seeing slightly less companies now, he said, adding the situation ought to improve over the next few years."We are looking (at) at least a dozen companies that are coming from Qatar itself," he said, adding the fund combines the aggregate regional influence of its investors and the deep startup ecosystem development experience of Golden Gate Ventures spanning Silicon Valley and Asia.Finding similarities in Mena and Southeast Asian regions; he said, "We do see a lot of opportunity. For us, it is a very natural expansion to be here in terms of the opportunity that we are seeing in the ecosystem."Asserting that the group was prudent on the investments it makes; Lint said, "We always have IRR target that sits between 20% and 30% on each fund. That translates to about a 3 to 4 (times) on the money that people invest in the fund."Asked within Mena region, which market it sees higher IRR potential; he said: "We want to be very evenly split across the market.""There is a lot of potential for deals in the Mena region. Being in Qatar, we spend a lot of time in developing the market here as well. So hopefully we will see a few good deals in our portfolio from here," he added.Highlighting that 10% of the fund will be invested in Qatar-grown startup companies; he said: "We are working very actively with the ecosystem here and trying to back those really good entrepreneurs."