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The Qatar Stock Exchange (QSE) on Sunday witnessed strong buying interests in the telecom, banks and insurance counters but overall it closed flat.The local retail investors were increasingly net buyers as the 20-stock Qatar Index settled mere 0.01% down to 9,908.69 points, although the previous week was marred by fragile investor sentiments in the global markets, following the US banks’ contagion.The market, which was skewed towards gainers, touched an intraday low of 9,795 points.The Gulf individual investors were seen net buyers in the main market, whose year-to-date losses widened marginally to 7.23%.Nevertheless, more than 51% of the traded constituents extended gains in the main bourse, whose capitalisation was up QR0.03bn or 0.01% to QR571.15bn, mainly on account of microcap segments.The foreign institutions’ net selling weakened in the main market, which saw a total of 0.21mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.67mn changed hands across 29 deals.However, the domestic funds were seen net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the main barometer of the main market, which saw no trading of treasury bills.The Total Return Index was up 0.09% and All Share Index by 0.13%, while Al Rayan Islamic Index (Price) shed 0.62% in the main bourse, whose trade turnover and volumes were on the decline.The telecom sector soared 1.58%, banks and financial services (0.64%), insurance (0.57%) and real estate (0.06%); while transport declined 1.93%, consumer goods and services (0.55%) and industrials (0.54%).Major shakers in the main market included Milaha, Baladna, Qamco, Al Khaleej Takaful, Woqod and Mekdam Holding.Nevertheless, Qatar General Insurance and Reinsurance, Zad Holding, Inma Holding, Dlala, Masraf Al Rayan, Qatar Islamic Bank, Doha Bank, Lesha Bank, Mannai Corporation, Qamco, Qatar Insurance, Ooredoo and Nakilat were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The domestic funds turned net sellers to the extent of QR14.29mn compared with net buyers of QR12.11mn on March 16.The foreign retail investors’ net selling increased noticeably to QR7mn against QR0.74mn the previous trading day.The Gulf institutions were net profit takers to the tune of QR1.25mn compared with net buyers of QR19.93mn last Thursday.The Arab individuals’ net selling strengthened marginally to QR0.71mn against QR0.57mn on March 16.The Arab institutions turned net sellers to the extent of QR0.04mn compared with net buyers of QR0.05mn the previous trading day.However, the local retail investors’ net buying expanded significantly to QR29.74mn against QR14.54mn last Thursday.The Gulf individual investors were net buyers to the tune of QR0.19mn compared with net sellers of QR0.28mn on March 16.The foreign institutions’ net profit booking decreased substantially to QR6.65mn against QR45.05mn the previous trading day.In the main market, trade volumes tanked 59% to 111.43mn shares, value by 70% to QR269.31mn and deals by 47% to 9,775.

Reflecting the fragile investor sentiments in the global markets, following the crises in Silicon Valley Bank and Credit Suisse, the Qatar Stock Exchange yesterday plunged more than 200 points as its key index fell below 10,000 points.The foreign institutions were increasingly into net selling as the 20-stock Qatar Index tanked 2.01% to 9,910.9 points.The market, which was skewed towards decliners, however recovered from an intraday low of 9,813 points.The industrials and insurance counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened further to 7.22%.More than 69% of the traded constituents were in the red in the main bourse, whose capitalisation saw QR12.48bn or 2.14% erosion to QR571.12bn, mainly on account of large cap segments.The foreign, Arab and Gulf individuals turned bearish in the main market, which saw a total of 0.19mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.56mn changed hands across 15 deals.However, the local retail investors were increasingly into net buying in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the main barometer of the main market, which saw no trading of treasury bills.The Total Return Index was down 0.18%, the All Share Index by 0.21% and the Al Rayan Islamic Index (Price) by 1.72% in the main bourse, whose trade turnover and volumes were on the increase.The industrials sector index plummeted 2.35%, followed by insurance (2.21%) and realty (1.29%); even as transport gained 2.23%, consumer goods and services (0.6%) and banks and financial services (0.44%). The telecom index was unchanged.Major shakers in the main market included Industries Qatar, Estithmar Holding, Aamal Company, Qatar General Insurance and Reinsurance, Gulf Warehousing, Commercial Bank, Masraf Al Rayan, Qatari German Medical Devices, Mannai Corporation, Mekdam Holding, Qatar Industrial Manufacturing, Gulf International Services, Mesaieed Petrochemical Holding, Qamco, Qatar Insurance and Ezdan.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Milaha, Woqod, Qatari Investors Group, Widam Food and QNB were among the gainers in the main market.The foreign institutions’ net profit booking increased substantially to QR45.05mn compared to QR27.46mn on March 15.The foreign retail investors turned net sellers to the tune of QR0.74mn against net buyers of QR0.49mn the previous day.The Arab individuals were net sellers to the extent of QR0.57mn compared with net buyers of QR3.38mn on Wednesday.The Gulf individual investors turned net sellers to the tune of QR0.28mn against net buyers of QR0.14mn on March 15.However, the Gulf institutions’ net buying rose marginally to QR19.93mn compared to QR19.82mn the previous day.The local retail investors’ net buying expanded significantly to QR14.54mn against QR4.76mn on Wednesday.The domestic funds turned net buyers to the extent of QR12.11mn compared with net sellers of QR1.12mn on March 15.The Arab institutions were net buyers to the tune of QR0.05mn against no major net exposure the previous day.In the main market, trade volumes more than tripled to 274.63mn shares and value more than doubled to QR897.67mn on a 29% increase in deals to 18,458.

Faster extraction of petroleum and natural gas and higher production of refined petroleum products, basic metals and chemicals led Qatar's industrial production index (IPI) to jump 3.5% month-on-month in January 2023, according to the official statistics.However, the country’s IPI witnessed a 3.3% decline on an annualised basis in the review period, according to figures released by the Planning and Statistics Authority (PSA).The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period with respect to a base period 2013.The mining and quarrying index, which has a relative weight of 82.46%, saw a 4.1% surge on a monthly basis owing to a 4.1% increase in the extraction of crude petroleum and natural gas and 1.7% in other mining and quarrying sectors.On a yearly basis, the index tanked 3.3% on account of a 3.4% contraction in the extraction of crude petroleum and natural gas, even as other mining and quarrying sectors saw a robust 6.8% expansion in the review period.The manufacturing index, with a relative weight of 15.85%, zoomed 2.4% month-on-month in January 2023 owing to a 3.3% increase in the production of chemicals and chemical products, 3.1% in refined petroleum products, 2.5% in basic metals and 0.6% in printing and reproduction of recorded media.Nevertheless, there was a 9.7% contraction in the production of beverages, 3.3% in cement and other non-metallic mineral products, 2.6% in rubber and plastics products and 0.1% in food products in the review period.On a yearly basis, the manufacturing index grew 3.8% owing to an 18.1% surge in the production of refined petroleum products, 4.8% in chemicals and chemical products and 3.5% in beverages in January 2023.However, there was a 13.4% decline in the production of cement and other non-metallic mineral products, 9.1% in printing and reproduction of recorded media, 4.6% in rubber and plastics products, 0.8% in food products and 0.3% in basic metals.However, Electricity, which has a 1.16% weight in the IPI basket, saw its index plummet 15.6% month-on-month but grew 7.1% year-on-year in January 2023.In the case of water, which has a 0.53% weight, the index saw a 17.6% plunge on monthly basis but was up 2.7% on an annualised basis in the review period.

Qamco, which has outlined QR1.1bn capital expenditure for 2023-27, will focus on its strategic plans to strengthen the market position and diversify into newer markets, aiming at enhanced shareholder value.Qamco's joint venture (Qatar Aluminium or Qatalum) is on track to reduce emissions by certain process optimisation measures, while improving output efficiency.These were disclosed by the Qamco board in a report submitted before shareholders at the general assembly meeting, which yesterday approved all the items on the agenda."Going forward, Qamco’s JV will remain focused on its strategic plans and look forward strengthening its market position and diversifying into newer markets, while relentlessly working towards enhanced shareholder value," its chairman Abdulrahman Ahmad al-Shaibi said.On the planned capex for 2023-27, the board report said it will continue to focus on the programmes with critical importance to improve asset integrity, operational efficiency, reliability, cost optimisation, capacity de-bottlenecking and HSE (health, safety and environment).During 2022, Qamco JV accounted for QR229mn (its share) on capex outlays, which included routine operations, such as pot relining and other maintenance pertaining to power plant and anode plant.The JV continues to reline third generation of pots and replace flue walls to ensure sustainable operations, while minimising the risk for disruption in production.On the sustainability front, the JV continued its journey to limit its carbon footprints by deploying various strategies and programmes and continue to explore opportunities to enhance energy efficiency and conservation measures.Qamco's JV has been successful in maintaining one of the lowest carbon footprints (in terms of carbon dioxide per metric tonnes of aluminium) by using natural gas as its source of energy compared to other types of fuel such as coal and oil.Nevertheless, JV’s carbon footprints are marginally higher than smelters that use renewable energy as hydropower or solar energy.In this regard, JV is working on developing Greenhouse Gases (GHG) reduction strategy, where work is in progress to set medium to long range targets for GHG reduction."The focus of the decarbonisation drive is to meet market expectations for the production of low carbon aluminium and to align with the ‘green’ transition of the international aluminium sector," the report said.

Market heavyweight Industries Qatar (IQ) – the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel – has planned capital expenditure (capex) of QR11bn for 2023-27.A "significant" portion of this spending will be related to the new blue ammonia train, amounting to QR4.4bn, and IQ’s share of capex in the new PVC (polyvinyl chloride) project, amounting to QR121mn.Valued at approximately $1.06bn being fully internally funded, the new train will have a designed capacity of up to 1.2mn tonnes per annum (MTPA) of Blue ammonia, making it the world’s largest facility," HE the Minister of State for Energy Affairs and IQ Chairman and Managing Director Saad bin Sherida al-Kaabi said in the board of directors report presented during the general assembly.“There is no doubt that this project further add on our expertise in commissioning, operating, and maintaining ammonia plants,” he told shareholders at the meeting, which approved all the items on the agenda.The group will continue to focus on its capex programmes with critical importance to improve asset integrity, operational efficiency, reliability, cost optimisation, capacity de-bottlenecking, and regulatory compliance, according to Abdulla Yaaqob al-Hay, acting manager Privatised Companies Affairs Department, QatarEnergy.In terms of capex over the next five years, Qatar Fertiliser is expected to incur QR9.2bn in various projects, including a new ammonia train. As per the capex plan, QR4.4bn will be spent in relation to the new ammonia train. In addition, other expenditures will include maintenance related shutdowns.The EPC (engineering, procurement and construction) contract for the new Ammonia-7 train was awarded to a consortium of ThyssenKrupp and Consolidated Contractors Company. The new train is intended to be operational by the first quarter of 2026.The fertiliser segment spent QR729mn in capex in 2022. This includes initial capex relating to the new blue ammonia train (QR35mn).About Qatar Petrochemicals, it said in terms of capex over the next five years, the segment is slated to spend QR1.3bn on various projects. As per the capex plan, QR440mn will be spent in relation to the new PVC project in form of capex.As per the Principles Agreement, the total capex outlay relating to the new PVC plant will be shared between IQ and Mesaieed Petrochemical Company in a ratio of 44.8% and 55.2%, respectively; equivalent to their share in Qatar Vinyl Company based on a new joint venture agreement.The segment had seen capex of QR371mn in 2022, primarily related to maintenance-related expenditures, routine fixed asset additions, and HSE improvements. This also includes IQ’s share of QR7mn towards capex on the new PVC project.Qatar Steel is expected to incur QR0.5bn in capex in 2023-27 in various projects including asset replacements, HSE and reliability improvements.The segment incurred a capex of QR62mn in 2022, primarily related to routine property, plant and equipment additions.

Qatar's inflation, based on consumer price index (CPI), was down 0.06% month-on-month in February 2023, mainly dragged by lower food and restaurant prices, according to the official estimates.However, the country's CPI inflation was higher by 4.41% on an annualised basis this February, said the figures released by the Planning and Statistics Authority (PSA).The country's core inflation (excluding housing and utilities) rather rose 0.09% and 3.37% month-on-month and year-on-year respectively during the review period."The average inflation will ease substantially this year to 2.3%, less than half the average pace of 5% in 2022," said the latest Economic Insight report for the Middle East, commissioned by the Institute of Chartered Accounts in England and Wales or ICAEW and compiled by Oxford Economics.The restaurants and hotels group, with a 6.61% weight, saw its index shrink 2.12% on a monthly basis but shot up 4.45% year-on-year in February 2023, the PSA said.Food and beverages group, which carry 13.45% weight in the CPI basket, became cheaper by 1.45% and 1.29% month-on-month and year-on-year respectively in February 2023.The index of clothing and footwear, which has a 5.58% weight in the CPI basket, declined 0.8% month-on-month but gained 0.7% on a yearly basis in February 2023.The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – was down 0.62% month-on-month but showed an 8.94% growth year-on-year in February 2023.The index of miscellaneous goods and services, with a 5.65% weight, was down 0.28% and 0.23% month-on-month and year-on-year respectively in the review period.However, the index of recreation and culture, which has an 11.13% weight in the CPI basket, was seen gaining 3.75% and 20.8% month-on-month and year-on-year respectively in February 2023.The index of transport, which has a 14.59% weight, grew 0.24% and 2.38% on monthly and yearly basis respectively in February 2023.The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies.The index of furniture and household equipment, which has 7.88% weight in the CPI basket, was up 0.11% month-on-month but fell 0.04% on an annualised basis this February.Communication, which carries a 5.23% weight, saw its group index tread a flat path month-on-month but shrank 4.84% year-on-year in the review period.The education sector, which has 7.33% in the CPI basket, saw its index was unchanged on a monthly basis but shot up 4.26% year-on-year this February.The index of health, which has a 2.65% weight, was flat month-on-month but expanded 1.62% year-on-year in February 2023.The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.

Global banking woes continued to dampen sentiments in the Qatar Stock Exchange, which on Wednesday lost more than 102 points and its key index settled below 10,200 levels.Reflecting the concerns in Credit Suisse, after the collapse of Silicon Valley Bank, the 20-stock Qatar Index tanked 1% to 10113.73 points.The market, which was skewed towards decliners, however touched an intraday high of 10,300 points.The domestic institutions were seen squaring off their position in the main market, whose year-to-date losses widened further to 5.31%.The real estate sector saw higher than average selling pressure in the main bourse, whose capitalisation saw QR4.47bn or 0.76% erosion to QR583.6bn, mainly on account of small and microcap segments.About 66% of the traded constituents were in the red in the main market, which saw a total of 0.3mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.82mn changed hands across 18 deals.The foreign retail investors’ weakened net buying had its influence in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining faster than the main barometer of the main market, which saw no trading of treasury bills.The Total Return Index shrank 0.5%, All Share Index by 0.44% and Al Rayan Islamic Index (Price) by 1.25% in the main bourse, whose trade turnover and volumes were on the decline.The realty index plummeted 1.02%, consumer goods and services (0.92%), banks and financial services (0.51%), industrials (0.35%) and telecom (0.07%); while transport gained 0.14% and insurance (0.09%).Major shakers in the main market included Qatar Electricity and Water, QIIB, Qatar General Insurance and Reinsurance, Doha Bank, Qatar Oman Investment, Inma Holding, Qatari German Medical Devices, Woqod, Qatar National Cement, Mesaieed Petrochemical Holding, Qamco, Mazaya Qatar and Milaha.Nevertheless, Gulf Warehousing, Qatar Industrial Manufacturing, Nakilat, Al Khaleej Takaful, Zad Holding and Vodafone Qatar were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The domestic funds turned net sellers to the tune of QR1.12mn compared with net buyers of QR65.19mn on March 14.The foreign retail investors’ net buying declined noticeably to QR0.49mn against QR5.16mn the previous day.The Gulf individual investors’ net buying eased perceptibly to QR0.14mn compared to QR1.55mn on Tuesday.However, the Gulf institutions were net buyers to the extent of QR19.82mn compared with net sellers of QR1.05mn on March 14.The local retail investors turned net buyers to the tune of QR4.76mn against net sellers of QR4.18mn the previous day.The Arab individuals were net buyers to the extent of QR3.38mn compared with net sellers of QR13.46mn on Tuesday.The foreign institutions’ net profit booking decreased substantially to QR27.46mn against QR53.23mn on March 14.The Arab institutions had no major net exposure compared with net buyers to the tune of QR0.01mn the previous day.The main market saw a 16% fall in trade volumes to 94.2mn shares, 16% in value to QR371.35mn and 13% in deals to 14,623.

With the World Cup economic boom starting to ease, Qatar's economic growth will be affected but higher investments in non-hydrocarbons will help it remain resilient this year, the Institute of Chartered Accountants in England and Wales (ICAEW) has said.According to the first quarter or Q1 report, Qatar’s expansion will be led by the non-oil sector this year, though the pace of activity will nearly halve to 3.3%, from over 6% in 2022."With the economic boom from the World Cup starting to slow down, GDP (gross domestic product) growth will be affected. However, continuing to increase investment in the non-oil sectors and doubling down on reforms will help Qatar remain resilient this year and reach the goals charted in its National Vision 2030,” said Hanadi Khalife, Head of Middle East, ICAEW.Scott Livermore, ICAEW economic advisor, and chief economist and managing director, Oxford Economics Middle East, said though much of the activity last year was linked to the World Cup, the preparations for the event contributed to medium-term diversification goals through strong gains in construction and real estate, transportation, and financial services."These gains will slow in the coming year, and some areas of the economy, such as accommodation and food services, may see a dip in the near term. However, we think the ongoing expansion of gas capacity and the pipeline of planned projects, will draw foreign direct investment (FDI) and support non-oil activity," he said.Further reforms will also play a role in attracting FDI as Qatar keeps up with the growing competition in the region, according to him.The latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics, revealed that Qatar’s economic growth is strong while it still enjoys a boost from the World Cup in 2022.Qatar’s growth likely exceeded 4% in 2022, marking the fastest pace since 2015 and leaving the economy the largest it has ever been. However, the 2023 GDP growth forecast is still unchanged at 2.7%.Although energy prices are easing from 2022 levels, they will "remain elevated", supportingQatar’s macroeconomic environment, the report said.Due to higher prices in main export commodities, Qatar enjoyed one of the largest terms-of-trade improvements in 2022, with recent data showing the trade surplus widening to QR355.2bn last year.As oil and gas prices remain above levels from early 2022, the external position will only deteriorate marginally this year, with the current account surplus at 15.6% of GDP, down from 17.1% in 2022.Expecting public spending to remain "supportive" of growth in 2023; it said high commodity prices underpinned a 54% year-on-year rise in budget revenue in 2022, pushing Qatar’s budget surplus to QR89bn, the largest since 2014.Qatar’s 2023 budget, based on a reduction in spending and an oil price of $65 per barrel, projects a surplus of QR29bn, equivalent to 3.4% of GDP.Forecasting Brent at $86 per barrel in 2023, which is "significantly" above the budgeted price; the report said on that basis, a modest rise in spending and a surplus of QR82bn (9.7% of GDP) is expected.

The fears of global contagion of Silicon Valley Bank continued its toll in the global bourses, including the Qatar Stock Exchange, which on Tuesday plunged 192 points and capitalisation eroded in excess of QR11bn.An across the board selling, especially in real estate and telecom, dragged the 20-stock Qatar Index 1.85% to 10,216.03 points.The market, which was skewed towards decliners, however touched an intraday high of 10,395 points.The foreign institutions were increasingly squaring off their position in the main market, whose year-to-date losses widened further to 4.35%.The Arab retail investors turned net profit takers in the main bourse, whose capitalisation saw QR11.49bn or 1.92% erosion to QR588.07bn, mainly on account of mid and large cap segments.More than 80% of the traded constituents were in the red in the main market, which saw a total of 0.23mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.73mn changed hands across 24 deals.The Gulf institutions continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the main barometer of the main market, which saw no trading of treasury bills.The Total Return Index shrank 1.61%, All Share Index by 1.65% and Al Rayan Islamic Index (Price) by 1.71% in the main bourse, whose trade turnover fell amidst higher volumes.The realty index plummeted 3.05%, telecom (2.13%), banks and financial services (1.76%), insurance (1.59%), transport (1.37%) and consumer goods and services (0.74%).Major shakers in the main market included Al Meera, Inma Holding, Gulf International Services, Nakilat, Estithmar Holding, Qatar Islamic Bank, QNB, Masraf Al Rayan, Lesha Bank, Qatari German Medical Devices, Widam Food, Industries Qatar, Qamco, Qatar Insurance, Ezdan and United Development Company. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Doha Insurance, Aamal Company, Milaha, Woqod and Qatar Industrial Manufacturing were among the gainers in the main market.The foreign institutions’ net selling increased substantially to QR53.23mn compared to QR11.18mn on March 13.The Arab retail investors were net sellers to the tune of QR13.46mn against net buyers of QR4.03mn on Monday.However, the domestic funds’ net buying expanded significantly to QR65.19mn compared to QR36.14mn the previous day.The foreign retail investors turned net buyers to the extent of QR5.16mn against net sellers of QR1.02mn on March 13.The Gulf individual investors were net buyers to the tune of QR1.55mn compared with net sellers of QR2.26mn on Monday.The Arab institutions were also net buyers to the tune of QR0.01mn against no major net exposure the previous day.The local retail investors’ net selling weakened drastically to QR4.18mn compared to QR21.99mn on March 13.The Gulf institutions’ net profit booking shrank perceptibly to QR1.05mn against QR4.17mn on Monday.The main market saw a 16% fall in trade volumes to 112.48mn shares and less than 1% in value to QR443.73mn but on 11% growth in deals to 16,807.

Doha Bank's capital adequacy is slated to remain strong in the short term to medium term given the credit growth projections, without further capital raising and its focus will continue to be revenue optimisation and cost reduction as part of its future plans.This was disclosed by the bank at an investor presentation provided at the annual general assembly meeting, where shareholders approved all the items on the agenda.In support of its "strong" current capital position, the bank highlighted that CET1 (common equity Tier 1) stood at 8.50%; Tier1 at 10.50%; total CAR at 12.50%; ICAAP (Internal Capital Adequacy Assessment Process) at 1%; and management buffer at 0.50%.With a view to strengthening the lending capacity and improving the competitive edge and prospects for achieving the strategic goals, Doha Bank during the past years focused on enhancing its Tier 1 capital base and CAR through the issuance of Tier 1 capital instruments amounting to QR2bn in each issuance (total of QR4bn) qualifying as additional Tier 1 capital for Doha Bank in Qatar as per the terms and requirements of Qatar Central Bank.Risk and capital management will also remain one of the core attention areas for bank, especially in view of the impact of geopolitical, macroeconomic and other global changes.Factoring in the rapid evolution to technological landscape, "Doha Bank is considering automation, digitisation, and innovation at the heart of its strategy," its chairman Sheikh Fahad bin Mohamed bin Jabor al-Thani said in the board of directors report presented at the meeting.The bank would continue embracing emerging technologies to build customer-centric solutions, he said."As the financial services industry stands at an inflection point, and several disruptive forces such as digitisation, competitive pressure, and fast evolving regulations are enforcing a bigger change; Doha Bank remains fully committed towards its customers, shareholders, people, and larger society," he said.Highlighting the rise of digital transactions, an investor presentation report made at the general assembly said 90% of all cash transactions are performed through ATMs bulk cash deposit machines and ITMs (Interactive Teller Machines).The bank witnessed "significant" growth in E-Commerce as the online payment gateway (OPG) number of transactions increased 71% on an annualised basis in 2022.Moreover, the lender witnessed local fund transfers improve from 75% to 78% and international fund transfer improve from 44% to 55% year-on-year in 2022.Sheikh Fahad said the bank enhanced and strengthened its financial position; and achieved an impressive return on average shareholders’ equity and average assets.

Reflecting the global contagion of Silicon Valley Bank (SVB), the Qatar Stock Exchange on Monday saw its key index plummet more than 164 points and capitalisation erode QR10bn.A higher than average selling pressure, particularly at the banking counter, led the 20-stock Qatar Index to plunge 1.49% to 10,408.42 points.The market, which was skewed towards decliners, however touched an intraday high of 10,577 points.The local retail investors were seen bearish in the main market, whose year-to-date losses widened to 2.55%.The foreign institutions turned net profit takers in the main bourse, whose capitalisation saw QR9.69bn or 1.59% erosion to QR599.56bn, mainly on account of mid and small cap segments.The Gulf funds were also seen bearish in the main market, which saw a total of 0.07mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.63mn changed hands across 38 deals.The Gulf retail investors were increasingly into net selling in the main bourse, 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 shrank 1.17%, the All Share Index by 1.24% and the Al Rayan Islamic Index (Price) by 1.13% in the main bourse, whose trade turnover and volumes were on the rise.The banks and financial services sector index tanked 2.17%, real estate (0.6%), consumer goods and services (0.53%), insurance (0.34%), transport (0.25%) and industrials (0.01%); while telecom was up 0.01%.About 66% of the traded constituents were in the red in the main market with major shakers being Beema, Qatar Industrial Manufacturing, Mesaieed Petrochemical Holding, Qatar Islamic Bank, Mazaya Qatar, QNB, Lesha Bank, Qatari German Medical Devices, Widam Food, Ezdan and Nakilat.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Al Meera, Baladna, Vodafone Qatar, Medicare Group and Mekdam Holding were among the gainers in the main market.The local retail investors turned net sellers to the tune of QR21.99mn against net buyers of QR2.7mn on March 12.The foreign institutions were net sellers to the extent of QR11.18mn compared with net buyers of QR11.72mn on Sunday.The Gulf institutions turned net profit takers to the tune of QR4.17mn against net buyers of QR2.78mn the previous day.The Gulf individual investors’ net selling increased noticeably to QR2.26mn compared to QR0.72mn on March 12.The foreign retail investors were net sellers to the extent of QR1.02mn against net buyers of QR4.4mn on Sunday.However, the domestic funds turned net buyers to the tune of QR36.14mn compared with net sellers of QR9.26mn the previous day.The Arab retail investors were net buyers to the extent of QR4.03mn against net profit takers of QR11.63mn on March 12.The Arab institutions had no major net exposure for the second straight session.The main market saw a 37% jump in trade volumes to 134.16mn shares, 76% in value to QR444mn and 82% in deals to 15,137.

Doha and Umm Slal municipalities witnessed double-digit growth year-on-year in building permits, even as at the national level, the permits issued were on the decline this February, according to official estimates.Qatar saw as many as 644 building permits issued in February 2023, which declined 7.6% on an annualised basis in the review period, according to figures released by the Planning and Statistics Authority.Al Rayyan, Doha and Al Wakra municipalities together constituted 70% of the total building permit issued in February 2023.The building permits data is of particular importance as it is considered an indicator for the performance of the construction sector which in turn occupies a significant position in the national economy.On an annualised basis, total building permits issued in Doha surged 13.4%, Umm Slal (12%) and Al Rayyan (6.8%); whereas those in Al Shamal tanked 50%, Al Shahaniya (41.2%), Al Wakra (23%), Al Daayen (18.5%) and Al Khor (12.1%).Of the total number of new building permits issued, Al Rayyan constituted 156 permits or 24% of the total, followed by Doha 135 (21%), Al Wakra 127 (20%), Al Daayen 123 (19%), Umm Slal 56 56 (9%), Al Khor 29 (5%), Al Shahaniya 10 (2%) and Al Shamal eight (1%).On a monthly basis, total building permits issued in the country declined 11% with Al Shahaniya reporting a 68% plunge, Al Shamal (53%), Al Khor (34%), Al Wakra (21%), Al Rayyan (13%) and Doha (4%); even as those in Umm Slal and Al Daayen increased 47% and 11% respectively in the review period.The new building permits (residential and non-residential) constituted 251 permits or 39% of the total issued in February 2023, followed by additions 366 (57%) and fencing 27 (4%).Of the new residential buildings permits, villas topped the list, accounting for 82% or 164 permits, apartments 11% (22), and dwellings of housing loans 4% (seven).Among the non-residential sector, commercial structures accounted for 47% or 24 permits, the industrial buildings as workshops and factories 29% (15 permits) and mosques 16% (eight permits).Qatar saw a total of 343 building completion certificates issued in February 2023, of which 268 or 78% was for the new buildings (residential and non-residential) and 75 or 22% for additions.On an annualised basis, total building completion certificates issued in the country saw 1.2% fall with Al Shamal reporting 75% decline, Doha (16.2%), Al Wakra (8.8%) and Al Rayyan (8.1%); while those in Al Shahaniya saw 166.7% surge, Umm Slal (52.6%) and Al Daayen (31.4%) in the review period.Qatar saw an 11% month-on-month contraction in the total building completion certificates issued in February 2023 with Al Shamal registering a 40% decline, Doha (30%), Al Rayyan (23%) and Al Daayen (17%); while Al Khor saw 143% growth, Umm Slal (21%), Al Shahaniya (14%) and Al Wakra (5%).Al Wakra constituted 83 or 24% of the total number of building completion certificates issued in the review period, Al Rayyan 23% or 79, Al Daayen 20% or 67, Doha 17% or 57, Umm Slal 8% or 29, Al Khor 5% or 17, Al Shahaniya 2% or eight and Al Shamal 1% or three in February 2023.Of the 210 residential buildings completion certificates issued, as many as 181 or 86% were for villas, 11 or 5% for dwellings of housing loans and nine or 4% for apartments.Of the 181 villas completion certificates issued in February 2023, as many as 51 were in Al Rayyan, 42 in Al Daayen, 36 in Al Wakra, 20 each in Doha and Umm Slal, eight in Al Khor and two each in Al Shamal and Al Shahaniya.In the case of nine apartments, Doha issued five completion certificates and one each in Umm Slal, Al Rayyan, Al Daayen and Al Khor.

Nakilat, whose liquefied natural gas (LNG) carriers account for about 10% of the global LNG carrying capacity, has said its greater fleet capacity and increased operational efficiency provide it with a "competitive" edge as its expands its international shipping portfolio through the recent strategic expansion of Nakilat’s fleet with an additional four LNG carriers, and the improved performance of its joint ventures and support services operating in the shipyard,Nakilat has achieved sustainable and long-term growth over the past year, demonstrating its commitment to innovative sustainability and operational excellence, its chairman Abdulaziz al-Muftah told shareholders yesterday at the annual general assembly meeting, which approved the 2022 results and 13% dividend."This commitment has provided Nakilat with a greater fleet capacity and increased operational efficiency, providing us with a competitive edge in the LNG shipping sector, as the company expands its international shipping portfolio," he said.With a fleet strength of 74 vessels – one of the largest LNG shipping fleets in the world, Nakilat’s portfolio comprises 69 LNG carriers, four liquefied petroleum gas carriers and one floating storage regasification unit – the company is backbone of the transportation link in Qatar’s LNG supply chain, according to him."Our LNG fleet has a combined carrying capacity of over 9mn cubic metres, which is about 10% of the global LNG fleet carrying capacity," he said, adding the majority of Nakilat’s vessels are fixed with long-term charters to reputable counterparties, creating a "steady and healthy" cash flow for the company.Nakilat followed through its expansion plans with the delivery of “Global Sealine”, a technologically advanced LNG carrier new-build during 2022, demonstrating commitment to innovation, sustainability, and operational excellence."This allowed Nakilat to provide greater fleet capacity and flexibility to its customers and gave the company a significant competitive advantage in the energy transportation sector," al-Muftah said, adding this also contributed towards the company’s efforts at reducing its carbon footprint and operating sustainably apace growing its international shipping portfolio.He said the company’s resilience and the convergent efforts have enabled its sustained growth momentum and business continuity, creating immense value for both its customers and shareholders.With a solid sense of direction from the company’s long-term expansion strategy and opportunities that re-emphasised its importance in achieving its targets, Nakilat has been smoothly sailing towards making significant contributions and notable accomplishments during 2022, al-Muftah said in the latest board report.Supported by its Erhama Bin Jaber Al Jalahma Shipyard, Nakilat’s joint venture companies continue adding strategic value to its operations through dedicated services, including ship repair, offshore fabrication, as well as a range of maritime services, all of which contribute towards establishing Qatar as a shipping and maritime hub, in support of the Qatar National Vision 2030, according to him.

Mesaieed Petrochemical Holding (MPHC) has earmarked a total capital expenditure (capex) of QR1.8bn for 2023-27 as part of efforts to enhance capacity."Going forward, the group will continue to consider capex investments to enhance capacity, reliability, efficiency and HSE performance, with a total budgeted outlay of QR1.8bn over a period of five years from 2023 till 2027," said its board report, presented at the general assembly, which approved net profit and dividend for 2022.Addressing the shareholders, MPHC chairman Ahmad Saif al-Sulaiti said the capex includes MPHC’s share in the new PVC (polyvinyl chloride) project funding.MPHC has already given the go-ahead to the Qatar Vinyl Company (QVC) to construct a PVC facility with a production capacity of 350,000 metric tonnes.On segment-wise capex, the report said the petrochemicals are expected to spend QR1.1bn on various projects, including turnarounds and dock jetty enhancement.Other projects will include, but are not limited to, operations (HSE, plant reliability, and integrity) and maintenance shutdowns."These projects will improve facilities’ operational integrity, reliability and output, and reduce emissions while ensuring regulatory compliance, and will lead to improved operating cash flows via added efficiencies," it said.In 2022, the segmental capex incurred was QR249mn. Q-Chem’s turnaround accounted for about 55% of the current year’s capex, with two additional projects accounting for most of the remaining spending.These projects include the Q-Chem sixth furnace project and the Q-Chem dock jetty enhancement.The sixth furnace project is currently in the commissioning phase and ensures sustainable production volumes while ensuring a more consistent consumption of allocated ethane volumes."The project is progressing as planned, and the furnace will be operational during the first quarter of 2023. The total cost incurred till date on the project amounted to QR89.7mn," it said.Highlighting that the dock jetty enhancement project is a combination of restoration and enhancement, the report said it is a critical element of infrastructure currently available and would support the segment for the foreseeable future.The chlor-alkali segment is expected to spend QR709mn on various projects.As per the capex plan, QR543mn will be spent in relation to the new PVC plant, whose construction is expected to be completed by mid-2025."The project is value accretive to MPHC and the national industrial sector. MPHC will be funding the construction of the new PVC plant equivalent to its shareholding in QVC," al-Sulaiti said.Being the first PVC plant Qatar, this project aims to position the country as a new regional player in the PVC production, while reinforcing the downstream value chain.The new plant will be integrated with the existing QVC facilities located at Mesaieed Industrial City and will source feedstock (vinyl chloride monomer) from the existing facilities.The new plant will maximise synergies on efficient water and power usage and existing supply chain capabilities, while assuring sustainable operations.The new plant aims to meet the growing demand, especially the construction industry.The PVC produced is expected to meet the domestic market demand and provide opportunities to export internationally.PVC as a product can be handled, stored, and shipped safely and seamlessly; and could be coupled with other similar products produced in Qatar to provide opportunities for optimised logistical cost structures.

The global concerns on the collapse of Silicon Valley Bank in the US and the Federal Reserve's hawkish stand on interest rates last week continued to have its dampening effect on the Qatar Stock Exchange, which Sunday plummeted 171 points and its key index closed below 10,600 points.An across the board selling – particularly in the insurance, real estate and banking counters – led the 20-stock Qatar Index knock off 1.59% to 10,565.41 points.About 88% of the traded constituents were in the red in the main market, which reported 1.08% year-to-date losses.The Arab retail investors were seen net profit takers in the main bourse, whose capitalisation saw QR9.04bn or 1.46% decrease to QR609.25bn, mainly on account of midcap segments.The Gulf individuals were also seen bearish in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.16mn changed hands across six deals.The local retail investors’ weakened net buying had its influence in the main bourse, 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 shrank 1.59%, All Share Index by 1.44% and Al Rayan Islamic Index (Price) by 1.63% in the main bourse, whose trade turnover and volumes were on the decline.The insurance sector index tanked 2.66%, realty (1.88%), banks and financial services (1.59%), telecom (1.4%), consumer goods and services (1.27%), industrials (1.14%) and transport (0.81%).Major shakers in the main market included Dlala, Qatar General Insurance and Reinsurance, Dukhan Bank, Aamal Company, Qatari German Medical Devices, Qatar Islamic Bank, Doha Bank, Lesha Bank, QIIB, Mannai Corporation, Estithmar Holding, Qatar Insurance, QLM, Ezdan, Mazaya Qatar and Nakilat.Nevertheless, Inma Holding, Beema, Gulf Warehousing, Milaha and Qatar Oman Investment were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.The Arab retail investors turned net sellers to the tune of QR11.63mn compared with net buyers of QR7.17mn on March 9.The Gulf individual investors were net sellers to the extent of QR0.72mn against net buyers of QR1.42mn last Thursday.The foreign institutions’ net buying shrank markedly to QR11.72mn compared to QR19.92mn the previous day.The local retail investors’ net buying weakened perceptibly to QR2.7mn against QR4.63mn on March 9.The Gulf institutions’ net buying eased marginally to QR2.78mn compared to QR2.88mn last Thursday.However, the foreign individual investors’ net buying grew notably to QR4.4mn against QR2.51mn the previous day.The domestic institutions’ net profit booking shrank substantially to QR9.26mn compared to QR38.57mn on March 9.The Arab institutions had no major net exposure against net buyers to the extent of QR0.03mn last Thursday.The main market saw 17% contraction in trade volumes to 97.87mn shares, 34% in value to QR252.93mn and 32% in deals to 8,329.

Qatar Stock Exchange (QSE) has amended the list of securities eligible for the margin trading, market making and liquidity provision.This has been done according to the QSE indices semiannual review and will be effective from April 2, 2023.The eligible securities are those included in main barometer QE Index and in Al Rayan Islamic Index.Stocks with all four quarterly turnovers exceeding 10% and all four quarterly frequency of trading exceeding 80% from the trading days in each quarter as well as units of QE Index ETF and Al Rayan Qatar ETF, the exchange traded funds sponsored by Doha Bank and Masraf Al Rayan respectively, are also eligible.The list of securities eligible for market making and margin trading are QNB, Masraf Al Rayan, Qatar Islamic Bank, Industries Qatar, Commercial Bank, Mesaieed Petrochemical Holding, Nakilat, Woqod, Qamco, Milaha, QIIB, Gulf International Services, Ooredoo, Estithmar Holding, Qatar Electricity and Water, Barwa, Baladna, Doha Bank, Ezdan, and Al Rayan Qatar ETF.The list also includes Salam International Investment, Vodafone Qatar, United Development Company, Qatari Investors Group, Qatar National Cement, Al Meera, Mazaya Qatar, Qatar German Company for Medical Devices, Lesha Bank, Medicare Group, Inma Holding, Mannai Corporation, QE Index ETF, Alijarah Holding, Dlala, Qatar Oman Investment, Widam Food, Al Khaleej Takaful and Mekdam Holding.However, the communique said Qatar Insurance, Qatar Industrial Manufacturing and Qatar Islamic Insurance are not eligible anymore for both activities.All listed companies in the main market and in the venture market at the QSE and all ETFs units listed are eligible for liquidity provision.Through margin trading, a financial services company funds a percentage of the securities’ market value purchased for its client, pursuant to the agreement governing the relation between them.Margin trading will allow investors to purchase securities that are partially financed by a loan or credit facility made available by a margin lender, a member licensed to provide such services.It is understood that Qatar has adopted a 60:40 method wherein a financial services company funds 40% of the securities’ market value purchased for its client pursuant to the agreement governing the relation between them.Market makers play a key role in providing liquidity to facilitate market efficiency and in the absence of them, it usually takes longer for buyers and sellers to match, translating as lower liquidity and higher trading costs owing to difficulties in entry and exit.Liquidity provision is an important development and one of the key components in the overall market development strategy of the QSE and liquidity providers would enable them to submit constant quotes for the sale or purchase of a particular security to increase its liquidity as per the controls and conditions set forth in the liquidity provision agreement.

Qatar's automobile sector began 2023 on a solid note with it witnessing a robust double-digit month-on-month acceleration in sales of private personal use and transport vehicles in January 2023, according to the official statistics.The country saw 6,389 new vehicles registered in January 2023, of which as much as 92% was for the private use, said the figures released by the Planning and Statistics Authority (PSA).The new vehicle registrations registered a 40.2% surge on a monthly basis in January 2023 but fell 20% on an annualised basis.The registration of new private vehicles stood at 4,988, which shot up 51.9% and 16.58% month-on-month and year-on-year respectively in January 2023. Such vehicles constituted 78% of the total new vehicles registered in the country in the review period.The registration of new private transport vehicles stood at 918, which grew 21.8% on a monthly basis but plummeted 46.4% year-on-year in January 2023. Such vehicles constituted 14% of the total new vehicles in the review period.The registration of new private motorcycles stood at 213 units, which plunged 31.5% and 85.5% month-on-month and year-on-year respectively in January 2023. These constituted 3% of the total new vehicles in the review period.The registration of new heavy equipment stood at 162, which constituted 3% of the total registrations in January 2023. Their registrations had seen a 76.1% expansion month-on-month but shrank 27.7% on a yearly basis in the review period.The registration of trailers amounted to 64 units, which was unchanged from December 2022 levels even as it reported 52.4% surge on an annualised basis in the review period.The new registration of other non-specified vehicles stood at 44 units, which shrank 17% and 83.5% month-on-month and year-on-year respectively in January 2023.The renewal of registration was reported in 82,840 units, which saw 32.6% and 10.8% increase on monthly and yearly basis respectively in January 2023. It constituted 59% of the clearing of vehicle-related process in the review period.The transfer of ownership was reported in 33,150 vehicles in January 2023, which zoomed 36.7% and 8.1% month-on-month and year-on-year respectively. It constituted 23% of the clearing of vehicle-related process in the review period.The number of lost/damaged vehicles stood at 7,955 units, which shot up 30.4% month-on-month but shrank 17.4% on a yearly basis in January 2023.The modified vehicles’ registration amounted to 6,120, which expanded 111% and 36.2% month-on-month and year-on-year respectively in January 2023.The cancelled vehicles stood at 3,038 units, which declined 17.9% on monthly basis but showed a 15.5% growth on an annualised basis in the review period.The number of vehicles meant for exports stood at 1,505 units, which reported 41.1% surge on a monthly basis but was down 13.3% year-on-year in January 2023.The re-registration of vehicles stood at 100, which reported 42.9% increase month-on-month but plummeted 38.7% on yearly basis in January 2023.The clearing of vehicle-related processes stood at 141,074 units, which grew 34.2% and 6.9% on monthly and yearly basis respectively in the review period.Hamad, Doha and Al Ruwais ports had handled 5,708 RORO (vehicles) in January 2023, which registered an 8.86% and 0.44% contraction on monthly and yearly basis respectively. Hamad Port alone handled 5,667 units in January 2023.

Notwithstanding the concerns on the US rates, the Qatar Stock Exchange remained on an upward trajectory for the second consecutive week and its key index gained as much as 115 points in key index and QR7bn in capitalisation.The banking, real estate, telecom, industrials and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index grew 1.08% this week which saw the Qatar Financial Center report that found the country’s private sector rebound in February this year on improved demand in the non-energy sectors.The Gulf funds were seen bullish this week, which saw the Qatar Development Bank join hands with the QSE by providing funds up to QR4.6mn or 70% of the listing fees of every eligible small and medium-sized enterprise wishing to get listed on the venture market.About 54% of the traded constituents extended gains to investors in the main market this week, which saw Dukhan Bank enter into pact with Wasata Financial Services and Commercial Bank Financial Services for liquidity provision.The foreign retail investors were seen net buyers this week which saw Qatar Electricity and Water Company enter into a nine-year gas turbine service contract with General Electric.The Gulf individual investors were also seen net buyers in the main market this week, which saw the QSE announce rejigging of its main barometer by including Vodafone Qatar in place of Qatar Insurance, effective from April 1.The Islamic index was seen gaining slower than the other indices in the main market this week which saw a total of 0.61mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR1.47mn trade across 39 deals.Trade turnover and volumes were on the decline in the main market this week, which saw as many as 0.07mn Doha Bank-sponsored exchange traded fund QETF valued at QR0.74mn change hands across 39 transactions.Market capitalisation was seen gaining QR7.03bn or 1.15% to QR618.29bn on the back of mid and small cap segments this week which saw the industrials and banking sectors together constitute about 62% of the total trade volume in the main market.The Total Return Index gained 1.26%, All Share Index by 1.28% and All Islamic Index by 0.75% this week, which saw no trading of sovereign bonds.The banks and financial services sector index shot up 2.05%, realty (1.62%), telecom (1.35%), industrials (1.23%) and consumer goods and services (1.11%); while insurance declined 3.14% and transport (2.59%) this week which saw no trading of treasury bills.Major gainers in the main market included Mannai Corporation, Salam International Investment, Mazaya Qatar, Beema, Dukhan Bank, Qatar Islamic Bank, QNB, Lesha Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding, Estithmar Holding, Barwa, Vodafone Qatar and Gulf Warehousing this week which saw Capital Intelligence (CI) affirm the long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) of Commercial Bank at ‘A+’ and ‘A1’, respectively with "stable" outlook.Nevertheless, QLM, Doha Insurance, United Development Company, Qatar Insurance, Qatar General Insurance and Reinsurance, Dlala, Qatari German Medical Devices, Baladna, Aamal Company, Qatari Investors Group, Ooredoo, Nakilat and Milaha in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value this week which saw CI affirm the (LT FCR and ST FCR of Ahlibank at ‘A+’ and ‘A1’, respectively with "stable" outlook.The Gulf institutions turned net buyers to the tune of QR25.69mn compared with net sellers of QR64.75mn the week ended March 2.The foreign individuals were net buyers to the extent of QR9.53mn against net sellers of QR4.66mn a week ago.The Gulf individuals turned net buyers to the tune of QR1.42mn compared with net profit takers of QR0.98mn the previous week.The Arab funds turned net buyers to the extent of QR0.03mn against net sellers of QR0.09mn the week ended March 2.The Arab individual investors’ net selling shrank noticeably to QR1.51mn compared to QR6.81mn a week ago.However, the domestic institutions’ net selling increased significantly to QR107.85mn against QR61.79mn the previous week.The local retail investors were net sellers to the tune of QR12.13mn compared with net buyers of QR7.37mn the week ended March 2.The foreign funds’ net buying weakened substantially to QR84.79mn against QR131.71mna week ago.Total trade volume in the main market shrank 12% to 576.01mn shares, value by 26% to QR1.67bn and deals by 19% to 54,713.