Author

Vodafone Qatar will replace Qatar Insurance in the Qatar Stock Exchange’s (QSE) main barometer QE Index, effective April 1.Qatar Industrial Manufacturing Company will be removed from QE Al Rayan Islamic Index.Qatar General Insurance and Reinsurance will join QE All Share Index and QE Insurance Index; while Ahli Bank will be removed from QE All Share Index and QE Banks and Financial services Index.Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continue to reflect the purpose of the index.The other constituents of the main barometer will remain QNB, Industries Qatar, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Woqod, Qatar Electricity and Water, Ooredoo, Mesaieed Petrochemical Holding, Milaha, Barwa, Qamco, Doha Bank, Gulf International Services, Baladna, Estithmar Holding and Ezdan.All listed companies are ranked by giving free float market capitalisation with a 50% weight and average daily value traded also 50% weight. Companies with velocity less than 5% are excluded from the review, as are entities whereby a single shareholder can only own less than 1% of outstanding shares.Any qualifying component exceeding 15% weight in the index as of market close March 28, 2023 will have its weight capped at the 15% level and excess weight allocated to remaining stocks proportionately.The index free-float for a stock is total outstanding shares minus shares directly owned by government and its affiliates, those held by founders and board members and shareholdings above 10% or greater of the total outstanding (except those held by those held by pension funds in the country).The other constituents of the Al Rayan Islamic Index are Masraf Al Rayan, Qatar Islamic Bank, Industries Qatar, Milaha, Woqod, Ooredoo, Mesaieed Petrochemical Holding, QIIB, Barwa, Qatar Electricity and Water, United Development Company, Qamco, Vodafone Qatar, Ezdan, Al Meera Consumer Goods, Baladna, Qatar National Cement, Medicare Group, Qatari Investors Group, Gulf Warehousing and Estithmar Holding.The bourse has seven sectors – banks and financial services (with 13 constituents), insurance (seven), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (11) in the ‘All Share Index’.

The Qatar Stock Exchange on Wednesday gained as much as 30 points and its key index surpassed the 10,750 levels, defying the general declining trend in the global markets in view of the interest rate hike concerns in the US.The banking counter witnessed higher than average demand as the 20-stock Qatar Index rose 0.28% to 10,752.32 points.The market, which was skewed towards shakers, regained from an intraday low of 10,628 points although losers outnumbered gainers.The local retail investors were seen net buyers, albeit at lower levels, in the main market, whose year-to-date gains improved to 0.67%.The foreign institutions continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation saw QR0.39bn or 0.06% increase to QR620.06bn, mainly on account of microcap segments.The domestic institutions’ net selling was seen weakening marginally in the main market, which saw a total of 0.33mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.08mn changed hands across 27 deals.The foreign retail investors turned net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.46% and the All Share Index by 0.45%, while the Al Rayan Islamic Index (Price) was down 0.03% in the main bourse, whose trade turnover and volumes were on the rise.The banks and financial services sector index shot up 1%, followed by realty (0.27%), telecom (0.11%) and consumer goods and services (0.03%); while transport declined 1.09%, industrials (0.07%) and insurance (0.05%).Major gainers in the main market included Mannai Corporation, Estithmar Holding, Qatar Islamic Bank, Gulf Warehousing, Barwa and QNB.Nevertheless, about 63% of the traded constituents were in the red with major losers being Aamal Company, Doha Insurance, Ooredoo, Qatari German Medical Devices, Baladna, Lesha Bank, Al Meera, Ezdan, Mazaya Qatar and Nakilat.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The local retail investors turned net buyers to the tune of QR1.71mn compared with net sellers of QR18.15mn on March 7.The domestic institutions’ net profit booking eased marginally to QR20.22mn against QR20.23mn the previous day.However, the Arab retail investors turned net sellers to the tune of QR4.41mn compared with net buyers of QR7.76mn on Tuesday.The Gulf institutions were net profit takers to the extent of QR1.01mn against net buyers of QR8.06mn on March 7.The Gulf retail investors turned net sellers to the tune of QR0.9mn compared with net buyers of QR1.39mn the previous day.The foreign institutions’ net buying decreased substantially to QR23.55mn against QR34.94mn on Tuesday.The foreign individual investors’ net buying weakened marginally to QR1.27mn compared to QR1.76mn on March 7.The Arab institutions continued to have no major net exposure for the fifth straight session.The main market saw a 2% jump in trade volumes to 157.35mn shares, 19% in value to QR480.12mn and 15% in deals to 14,895.

Qatar Development Bank (QDB) Tuesday unveiled a co-investment product for start-ups, the first of its kind in the country, with it investing QR3.65mn per deal and allowing local and global funds to provide part of the required capital.This was announced by QDB acting chief executive officer Abdulrahman Hesham al-Sowaidi at the bank's fifth Investment Forum, held in co-operation with Refinitiv, a London Stock Exchange Group business.About the co-investment opportunity for the local and global funds, al-Sowaidi said under the new programme, "we will enable private investors and local and international funds to provide part of the required capital for start-ups with QDB investing up to QR3.65mn per deal."This, according to him, would reduce the risks carried by individual and corporate investors and complete investment rounds more effectively.More than 870 start-ups and small and medium enterprises (SMEs) have benefited from QDB's products and support so far with more than QR7.3bn deployed in direct and indirect financing since its inception."This includes QR253mn in 2022 and creating over 600 highly skilled jobs in sustainable and innovative businesses," he said.Since the inception of its investment fund, valued at QR365mn, al-Sowaidi said it has launched a range of products such as SME Equity Fund or 'Istithmar', which is aimed at investing in start-ups.The lender also revised 'Ithmar', a Shariah-compliant equity financing programme in which QDB funds up to 90% of a project, targeting the very early stage companies, according to him.Regarding 'Ithmar', he said the bank has revisited the seed programme and upgraded it with developments in the industry and accordingly doubled the ticket size to QR1.8mn.Through its various initiatives and programmes, QDB aims to cement Qatar's position as an ideal ecosystem for entrepreneurship where demand meets opportunity to foster innovation and growth, he said.QDB's latest efforts have been focused on creating new initiatives specifically designed for emerging and growth oriented sub-sectors such as cybersecurity, deep tech, fintech and sportstech, al-Sowaidi said."Our efforts to boost the entrepreneurial ecosystem goes beyond investments with QDB providing capacity building training programmes to qualify more than 60 investors to actively engage within the investment sector," he said.Through its investment Bootcamp, QDB educates new and seasoned investors on how to identity and evaluate emerging opportunities and provide guidance and advice on the investment process."Qatar is not only emerging as a successful hub for start-ups and SME growth but one that promises many opportunities for venture capitals, thanks to its fast-growing economy and untapped domains," al-Sowaidi said.The forum featured eight companies operating across industries ranging from fashion to construction technology, namely Avey, Build Hop, Cytomate, Therappy, Emma, Dana Riad, Enable, and ADGS who pitched their innovative business solutions to investors.Marc Deschamps, a unicorn entrepreneur in tech, and co-head of DAI Magister investment bank, addressed the forum, touching on emerging investment hubs. His keynote speech was followed by a discussion session with Ashraf Abu Issa, chairman and chief executive officer of Abu Issa Holding Company.This year’s investment forum, which was organised in partnership with the Ministry of Commerce and Industry and the Doha Tech Angels investment club, saw angel investors and representatives of venture capital funds, investment banks and public investment funds from Qatar and overseas discuss the best practices in closing investment deals and efforts to overcome challenges in the investment landscape.

Qatar's five-star hotels witnessed improved rooms' yield in January 2023, even as the hospitality sector overall reported decline in average revenue available per room, according to data from the Planning and Statistics Authority (PSA).The decline in the country's hospitality sector comes in view of a double-digit shrinkage in visitors, especially from other Arab countries and the Americas, compared to December 2022, which saw the crucial matches of FIFA World Cup, according to figures released by the PSA.In the case of five-star hotels, the average revenue per available room increased 6.75% on annualised basis to QR269 in January 2023 as the average room rate grew 5.49% to Q576 and the occupancy by 1% to 47%.However, the country's overall hospitality sector saw an 8.68% year-on-year contraction in average revenue per available room to QR200 in January 2023 although the average room rate jumped 6.27% to QR424. Nevertheless, occupancy shrank 8% to 47% in the review period.This trend in the hospitality sector’s room yield comes amidst a 44.5% month-on-month plunge in visitor arrivals to 340,405 in January 2023 with majority coming from the GCC countries and Europe. On an annualised basis, the total visitor arrivals soared 611.1% in the review period.The visitor arrivals from the GCC were 141,998 or 42% of the total; followed by Europe 100,549 or 30%; other Asia (including Oceania) 57,950 or 17%; Americas 24,540 or 7%; other Arab countries 9,446 or 3% and other African countries 6,012 or 2%.The visitor arrivals from other Arab countries fell 89.3% month-on-month, while it grew 103.1% year-on-year this January; those from the Americas shrank 64.1% on a monthly basis but soared 576.2% on yearly basis; those from other Asia (including Oceania) fell 41.8% month-on-month but gained 52.3% year-on-year; those from other African countries by fell 41.7% compared to December 2022 but soared 363.5% on annualised basis; and those from GCC were lower by 41.9% month-on-month but surged 611.1% year-on-year.The average revenue per available room in the four-star hotels plummeted 37.93% on a yearly basis to QR108 in January 2023 as the average room rate was down 3.89% to QR247 and the occupancy by 24% to 44%.The three-star hotels saw a 39.7% year-on-year contraction in average revenue per available room to QR120 as average room rate shrank 7.58% to QR195 and the occupancy by 33% to 61% in the review period.The two-star and one-star hotels' average revenue per available room declined 28.42% year-on-year to QR136 in January 2023 as the average room rate dipped 16.67% to QR165 and the occupancy by 13% to 83%.The deluxe hotel apartments saw a 10.88% year-on-year shrinkage in average revenue available per room to QR172 in January 2023 even as the average room rate in the category was seen gaining 8.12% on an annualised basis to QR386. However, the occupancy was down 10% to 44% in the review period.In the case of standard hotel apartments, the room yield decreased by 38.54% year-on-year to QR118 in January 2023 as the average room rate was down 4.8% to QR218 and occupancy by 30% to 54%.

The foreign institutions’ increased net buying Tuesday lifted the Qatar Stock Exchange by 28 points and its key index breached the 10,700 levels..text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[8019]**Ahead of the Federal Reserve chair Jerome Powell's testimony before the Senate Banking Committee, the 20-stock Qatar Index rose 0.26% to 10,722.57 points, on the back of consumer goods and banking sectors.The market, which was marginally skewed towards gainers, regained from an intraday low of 10,697 points.The Arab individual investors were increasingly net buyers in the main market, whose year-to-date gains improved to 0.39%.The Gulf individual investors were seen bullish in the main bourse, whose capitalisation saw QR2.23bn or 0.36% jump to QR619.67bn, mainly on account of midcap segments.The domestic institutions’ weakened net selling had its influence in the main market, which saw a total of 0.14mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.44mn changed hands across 14 deals.However, the local retail investors’ net selling pressure intensified in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.26% and the All Share Index by 0.42%, while Al Rayan Islamic Index (Price) shrank 0.35% in the main bourse, whose trade turnover fell amid higher volumes.The consumer goods and services sector index gained 1.56% and consumer goods and services (0.93%); while telecom declined 2.57%, insurance (0.64%), realty (0.48%), transport (0.1%) and industrials (0.09%).Major gainers in the main market included Beema, Zad Holding, Al Meera Consumer Goods, Salam International Investment, Qatar Cinema and Film Distribution, QNB and Mazaya Qatar.In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Qatari Investors Group, Ooredoo, United Development Company, Dlala, Lesha Bank, Qatar National Cement, Gulf International Services and Barwa were among the losers in the main market.The foreign institutions’ net buying increased substantially to QR34.94mn compared to QR6.39mn on March 6.The Arab individual investors’ net buying strengthened noticeably to QR7.76mn against QR3.5mn the previous day.The Gulf retail investors turned net buyers to the tune of QR1.39mn compared with net sellers of QR0.48mn on Monday.The domestic funds’ net profit booking weakened perceptibly to QR20.23mn against QR28.83mn on March 6.However, the local retail investors’ net selling expanded considerably to QR18.15mn compared to QR0.33mn the previous day.The Gulf institutions’ net buying decreased markedly to QR8.06mn against QR15.76mn on Monday.The foreign retail investors’ net buying eased notably to QR1.76mn compared to QR4.01mn on March 6.The Arab institutions continued to have no major net exposure for the fourth straight session.The main market saw a 5% jump in trade volumes to 153.94mn shares but on 3% fall in value to QR400.39mn and 11% in deals to 13,002.

A higher than average demand in telecom, real estate and industrials counters Monday led Qatar Stock Exchange gain more than 73 points and its key index inched towards 10,700 levels.The Gulf institutions were seen increasingly into net buying as the 20-stock Qatar Index rose 0.69% to 10,695.04 points.The market, which was skewed towards gainers, touched an intraday high of 10,751 points.The Arab individual investors were seen bullish in the main market, which turned black year-to-date by posting 0.13% gains.More than 69% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR6.18bn or 1.01% jump to QR617.44bn, mainly on account of mid and small cap segments.The foreign retail investors were increasingly net buyers in the main market, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.2mn changed hands across 26 deals.The local retail investors’ weakened net selling had its influence in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.69%, All Share Index by 0.67% and Al Rayan Islamic Index (Price) by 1.17% in the main bourse, whose trade turnover and volumes were on the decline.The telecom sector index soared 2.63%, real estate (2.31%), industrials (1.34%), banks and financial services (0.33%), consumer goods and services (0.25%) and transport (0.01%); while insurance declined 0.95%.Major gainers in the main market included Mannai Corporation, Lesha Bank, Mazaya Qatar, Salam International Investment, Mesaieed Petrochemical Holding, Dukhan Bank, Alijarah Holding, Medicare Group, Industries Qatar, Gulf International Services, Qamco, Barwa, Ezdan, Ooredoo and Gulf Warehousing.Nevertheless, Qatar Cinema and Film Distribution, Zad Holding, Qatar Insurance, Beema, Estithmar Holding and Nakilat were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The Gulf institutions’ net buying increased markedly to QR15.76mn compared to QR3.54mn on March 2.The foreign retail investors’ net buying expanded noticeably to QR4.01mn against QR0.19mn the previous trading day.The Arab individual investors turned net buyers to the tune of QR3.5mn compared with net sellers of QR2.5mn last Thursday.The local individual investors’ net profit booking decreased considerably to QR0.33mn against QR10.08mn on March 2.The domestic funds’ net selling weakened perceptibly to QR28.83mn compared to QR36.38mn the previous trading day.The Gulf retail investors’ net profit booking eased marginally to QR0.48mn against QR0.93mn last Thursday.However, the foreign institutions’ net buying shrank substantially to QR6.39mn compared to QR46.14mn on March 2.The Arab institutions continued to have no major net exposure for the third straight session.The main market saw a 4% shrinkage in trade volumes to 146.77mn shares, 18% in value to QR411.49mn and 10% in deals to 14,604.

A long-term residency with incentives could go a long way in further enhancing Qatar's attractiveness in the labour market, said a report from an international consultancy firm, PricewaterhouseCoopers (PwC)."By offering a long-term residency with incentives to increase the ‘stickiness of the population’, similar to the golden visa approach adopted in recent years by some neighbouring Gulf countries, Qatar may further increase its attractiveness," PwC said in its report.Expats are eligible to apply for a permanent residency in Qatar by purchasing $200,000 worth of real estate property in the country, as per Law No. 16 of 2018 on the regulation of non-Qatari ownership and use of real estate. Free hold ownership for non-Qatar nationals is permitted in certain areas.PwC also said Qatar may consider a proactive approach towards labour reform to capitalise on the momentum brought on by the FIFA World Cup and upcoming AFC Asian Cup to continue boosting Qatar’s public image as a nation dedicated to improving migrant workers’ rights and conditions.Well before Doha was awarded the hosting of the FIFA World Cup, the Qatar National Vision 2030 laid out the country's aspiration to improve the conditions of migrant workers.The International Labour Organisation (ILO) attests that the “kafala” sponsorship system has been abolished, with the ending of practices such as no-objection certificates and employer-granted exit permits.In addition, Qatar was the first GCC country to introduce a non-discriminatory minimum wage law, set at QR1,000 per month, on top of QR800 for accommodation and food. Furthermore, heat stress protection regulations have been introduced to limit outdoor work in high temperatures and provide workers with heat stress training, personal protective equipment and annual health checks.The inauguration of the ILO project office in Qatar in 2018 further reflects Qatar’s earnest commitment to improve labour practices and address criticisms it has received in the past."The 2023 outlook for Qatar and the GCC region appears more upbeat in comparison to the rest of the world," the report said.PwC said investing in skills development among the national workforce, supported by the new laws and regulations, should remain at the top of the agenda in order to reach the ambitions of the Qatar National Vision 2030.

Doha’s waste management market exhibits unique opportunities for growth in the remediation, treatment, and materials recovery areas, according to Investment Promotion Agency Qatar.Moreover, Qatar is a "promising" hub for waste management in the wider Middle East and North Africa (Mena) region, Invest Qatar said in its presentation.Qatar generates about 8mn metric tonnes of solid waste of which 48% is from the construction sector, followed by bulk waste (34%) and domestic waste (17%), it said.Qatar’s integrated national solid waste management programme underpinned by Qatar National Vision 2030 and National Development Strategy II creates opportunities across the waste management value chain, it said, adding QNV 2030 aims to involve the private sector in waste management through appropriate PPP (public private partnership) modes.The Gulf country launched the integrated national solid waste management programme during 2022 with a target of 95% diversion of waste from landfills and segregation of 75% of total waste at source, by 2030."Qatar offers significant opportunities to key players at each stage of the value chain with megatrends in waste management and technological advancements," Invest Qatar said.Highlighting that distinct opportunities are clustered across the recycling, the report said Qatar’s current waste comprises approximately 5% metals – of which steel accounts for 70% and aluminium 30%.Metal scrap in Qatar is generated through municipal solid waste (MSW), scrapping of end-of-life cars, and tire recycling, it said, adding 69,534 tonnes of metal scrap generated from MSW in Qatar.Finding that Qatar has built essential infrastructure including nine waste management facilities, the report said a 1,500MT per day capacity is currently under development in Al Khor.Qatar was the first country in the Gulf Co-operation Council (GCC) to implement a waste-to-energy program and currently generates more than 30MW of electricity from its domestic solid waste management centre (DSWMC) located at Mesaieed (Doha).While DSWMC is equipped with sorting, recycling and incineration facilities, DSWMC currently does not recycle plastic waste, it said, adding the capacity of DSWMC is lower than the daily domestic waste generated in Qatar of by about 1,200MT.The global market for waste-to-energy (WtE) technologies was valued at $35bn, proving Qatar as a pioneering and promising candidate for the WtE systems GCC market, the report said.Invest Qatar said as much as 10mn tonnes of plastic waste and 9mn tonnes of metal waste are produced annually in the GCC and about $6bn per year is the GCC’s total market potential, which in turn has the potential to create about 50,000 new jobs in the region.The report found that as much as 15% operating margins offer "unique" opportunities in e-waste, plastic recycling and packaging.

Reflecting the global optimism over expectations of a strong economic rebound in China, the Qatar Stock Exchange on Thursday gained 50 points and its key index surpassed 10,600 levels.The telecom, real estate, consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index gained 0.47% to 10,621.81 points.The market, which was skewed towards gainers, was seen touching an intraday high of 10,741 points."The first nearby resistance level comes at 10,780 points, which if broken would lead to 11,215 point and maybe higher to 11,500 point, knowing that a firm close above this would decrease the downside risk," Kamco said in its technical analysis note.The foreign institutions were increasingly net buyers in the main market, whose year-to-date losses were curtailed to 0.55%.About 71% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR1.59bn or 0.26% jump to QR611.26bn, mainly on account of micro and small cap segments.The foreign retail investors were increasingly net buyers in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.36mn changed hands across 24 deals.The Gulf institutions continued to be net increasingly net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 0.47%, the All Share Index by 0.24% and the Al Rayan Islamic Index (Price) by 1.22% in the main bourse, whose trade turnover and volumes were on the increase.The telecom sector index soared 2.12%, realty (1.53%), consumer goods and services (1.22%), industrials (1.13%), insurance (0.1%) and transport (0.09%); while banks and financial services fell 0.49%.Major gainers in the main market included Ezdan, Zad Holding, United Development Company, Gulf International Services, Qamco, Doha Bank, QIIB, Industries Qatar, Ooredoo, Qatar Electricity and Water, Vodafone Qatar and Gulf Warehousing.Nevertheless, Mannai Corporation, Qatar General Insurance and Reinsurance, QNB, Inma Holding and Medicare Group were among the losers in the main market.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The foreign institutions’ net buying increased substantially to QR46.14mn compared to QR18.064mn on March 1.The foreign retail investors’ net buying expanded marginally to QR0.19mn against QR0.18mn the previous day.However, the domestic institutions’ net selling grew substantially to QR36.38mn compared to QR3.16mn on Wednesday.The local individual investors’ net profit booking strengthened noticeably to QR10.08mn against QR8.43mn on March 1.The Arab individual investors’ net selling grew perceptibly to QR2.5mn compared to noticeably to QR1.92mn the previous day.The Gulf retail investors turned net sellers to the tune of QR0.93mn against net buyers of QR0.28mn on Wednesday.The Gulf institutions’ net buying weakened markedly to QR3.54mn compared to QR4.25mn on March 1.The Arab institutions continued to have no major net exposure for the second straight session.The main market saw a 31% surge in trade volumes to 153.47mn shares, 28% in value to QR503.24mn and 21% in deals to 16,148.

Qatar's mandatory medical insurance may see a minimum additional gross written premium (GWP) of QR1bn to QR1.5bn, but has the potential for 15%-20% in additional premium growth above the current base-case, according to Standard and Poor's (S&P).Qatar's compulsory health insurance law was expected to take effect in May 2022, but has been delayed several times, the rating agency said.Under the law, all foreign visitors, residents, and workers in the country will have to hold medical insurance for the entire duration of their stay, unless they are exempt.As of February 1, 2023, the first phase was implemented, requiring visitors to purchase a health policy at a premium starting from QR50. "In our view, this will not be a material contributor to premium growth," the report said.The larger part of the scheme could generate QR1bn to QR1.5bn in additional GWP in the coming years, S&P said, adding it has, however, not incorporated this in its growth forecast for 2023, since pricing and the table of benefits for policyholders have not been disclosed."When implemented, the sector will likely see a spike of new business, leading to 15%-20% in additional premium growth above our current base-case," the rating agency said.S&P estimated a net combined ratio for the industry of about 86% in 2022, with most listed companies returning strong technical profits."In 2023, we estimate a combined ratio of 90%-93%, as the portion of medical business, which tends to have lower profit margins, expands," it said.In the wider Gulf Co-operation Council (GCC), it said, insurers are reaping the benefits of ongoing economic growth in the region."The expansion of infrastructure investment and medical insurance covers will continue to spur premiums in 2023, albeit at a slower pace than in 2022," the report said.Although premium incomes rose, profitability fell in most GCC markets in 2022, according to the credit rating agency."For 2023, we expect a modest uptick in earnings if insurers continue to reprice underperforming business. Higher investment returns following an increase in interest rates should also support earnings, in our view," S&P said.The introduction of new medical covers and some inflation-related tariff adjustments were among the key growth drivers in 2022, it said."We expect GWP growth will continue to outpace the build-up of capital in most markets in 2023. This will particularly be the case for many smaller and midsize insurers if they do not manage to increase their earnings," the report said.Expecting ratings to remain stable overall, supported by relatively robust capital buffers, it said the credit conditions for some unrated, smaller-to-midsize insurers could weaken this year, driven by strong premium growth, higher claims frequency, and regulatory/compliance costs, which would require further capital raising and consolidation in the sector.

Qatar's maritime sector saw general cargo movement jump exponentially this February compared to January with its Hamad, Doha and Al Ruwais ports together reporting a stupendous 88% surge in freight handled.The three ports saw a 35% surge month-on-month in livestock handled in the review period, said Mwani Qatar in its tweet.The number of ships calling on Qatar's three ports stood at 207 in February 2023, which shrank 8.41% and 2.82% month-on-month and year-on-year respectively.Hamad Port, which offers opportunities to create cargo movement towards the upper Gulf, supporting countries such as Kuwait and Iraq and south towards Oman – saw as many as 128 vessels call on the port in the review period.As many as 433 ships had called on three ports in the first two months of this year.The general cargo handled through the three ports was 210,104 tonnes in February 2023, which showed an 88.23% and 67.63% surge on monthly and yearly basis respectively in the review period.Hamad Port – whose multi-use terminal is designed to serve the supply chains for the RORO (vehicles), grains and livestock – handled 63,125 freight tonnes (F/T) of bulk and 141,658F/T of breakbulk in February this year.On a cumulative basis, the general cargo movement through the three ports totalled 321,721 tonnes during January-February 2023.The three ports had handled 56,675 livestock in February 2023, which shot up 34.82% month-on-month and more than tripled on an annualised basis.The three ports together handled 83,668 livestock in the first two months of this year.The container handling through three ports stood at 112,609 TEUs (twenty-foot equivalent units), which fell 1.28% year-on-year and 1.62% in February 2023.Hamad Port, which is the largest eco-friendly project in the region and internationally recognised as one of the largest green ports in the world, saw 112,197 TEUs of containers handled in the review period.The container handling through the three ports stood at 225,677 TEUs during January-February.The container terminals have been designed to address the increasing trade volume, enhancing ease of doing business as well as supporting the achievement of economic diversification, which is one of the most important goals of the Qatar National Vision 2030.The three ports handled 5,665 RORO in February 2023, which registered a 0.75% fall month-on-month but soared 13.48% year-on-year. Hamad Port alone handled 5,653 units in February 2023.The three ports together handled as many as 11,373 vehicles during January-February 2023.The building materials traffic through the three ports stood at 38,761 tonnes in February 2023, which tanked 47.62% and 16.88% month-on-month and year-on-year respectively in the review period.A total of 83,668 tonnes of building materials had been handled by these ports in January-February 2023.

The Qatar Stock Exchange on Wednesday treaded a flat course despite selling pressure from local retail investors and domestic institutions.The real estate, insurance, telecom and industrials counters witnessed higher than average demand even as the 20-stock Qatar Index settled mere 0.01% higher at 10,571.82 points.The market, which was skewed towards gainers, had touched an intraday high of 10,605 points, especially in the first 30 minutes of opening.The Gulf institutions were seen net buyers in the main market, whose year-to-date losses were at 1.02%.More than 55% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR0.82bn or 0.13% jump to QR609.67bn, mainly on account of microcap segments.The Arab individual investors’ weakened net selling had its influence in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.21mn changed hands across seven deals.The foreign retail investors were seen net buyers, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.The Total Return Index was up 0.01% and the Al Rayan Islamic Index (Price) by 0.34%, while the All Share Index was down 0.16% in the main bourse, whose trade turnover and volumes were on the decline.The realty sector index shot up 1.28%, insurance (0.79%), telecom (0.7%) and industrials (0.43%); while banks and financial services declined 0.65%, transport (0.1%) and consumer goods and services (0.04%).Major gainers in the main market included Qatar General Insurance and Reinsurance, Ezdan, Barwa, Qatar National Cement, Qatari German Medical Devices, Alijarah Holding, Estithmar Holding, Mesaieed Petrochemical Holding, Qamco, Ooredoo and Gulf Warehousing.Nevertheless, Mannai Corporation, Qatar Industrial Manufacturing, Beema, Qatar Islamic Insurance and QNB were among the shakers in the main market.In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The Gulf institutions turned net buyers to the tune of QR4.25mn compared with net sellers of QR45.51mn on February 28.The foreign retail investors were net buyers to the extent of QR0.18mn against net profit takers of QR1.99mn on Tuesday.The Arab individual investors’ net selling eased noticeably to QR1.92mn compared to QR4.4mn the previous day.However, the local individual investors turned net sellers to the tune of QR8.43mn against net buyers of QR6.23mn on February 28.The domestic institutions’ net profit booking expanded perceptibly to QR3.16mn compared to QR1.48mn on Tuesday.The foreign institutions’ net buying weakened substantially to QR18.06mn against QR46.85mn the previous day.The Gulf retail investors’ net buying shrank marginally to QR0.28mn compared to QR0.38mn on February 28.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.09mn on Tuesday.The main market saw 38% shrinkage in trade volumes to 116.92mn shares, 47% in value to QR393.09mn and 12% in deals to 13,300.

Ahlibank will continue its $2bn euro medium-term note (EMTN) programme and indicated issuing new bonds under this instrument.At the annual extraordinary general assembly held yesterday, shareholders approved "the continuation of the $2bn EMTN and authorising the board of directors to update the programme from time to time, pay any tranche and issue new bonds."This was announced by Sheikh Faisal bin AbdulAziz bin Jassem al-Thani, chairman of the board.The extraordinary general assembly authorised the board to determine the size and manner as may be specified by it, in compliance with the instructions of the regulatory authorities.The ordinary general assembly meeting approved the board’s recommendation of 20% dividends to the shareholders for 2022."Our strong financial performance and profits enable us to deliver more value for customers and shareholders. As a result of our steady performance in 2022, and taking into consideration the preservation of shareholders’ rights, the stability of the bank’s financial position, liquidity expectations, and the balance sheet, the board of directors proposed a cash dividend of QR0.2 per share for 2022," Sheikh Faisal said.Highlighting that the bank continued to implement its strategy to achieve stable financial performance, which is reflected in the results of the fiscal year 2022; he said net profits reached QR772mn compared to QR713mn in 2021.Total capital adequacy ratio in December 2022 stood at 20.5%, reflecting the bank’s strong financial position, according to him.Hassan Ahmed AlEfrangi, Ahlibank Qatar chief executive officer, said the bank's results for 2022 indicated a significant improvement in profitability and financial indicators and places it on a solid foundation and a good position for medium and long-term growth, especially since its focus is on providing sustainable and long-term returns to its shareholders."Ahlibank achieved all of its goals during the past year better than expected, reflecting the strength of its business model and its strategic focus on diversification," he said, adding the bank is moving forward in implementing projects that contribute to the development and growth of the national economy.He confirmed the growth of Ahlibank's digital services portfolio, which motivates it to continue investing in the bank's digital banking platform, in order to meet the requirements of its customers and provide digital services, thus cementing its leading position in this sector.Stressing that it has launched several digital initiatives, including mobile payment mechanisms such as Apple Pay, Google Pay, Samsung Wallet, Fitbit Pay, and Garmin Pay; he said "we have continued to heavily invest in implementing the bank's digital transformation roadmap, and we had no doubt about our vision for digital transformation and our readiness to anticipate a new generation of digital banking services that preserve our leadership despite operational challenges."On sustainability initiatives; he said "we have drawn a roadmap for these initiatives, which we will work on over the coming years to solidify our commitment to sustainable development, in support of and adherence to the Qatar National Vision 2030, with one of its key pillars being the commitment to sustainability principles in all its aspects."

Qatar's exports stood more than three times its imports as it reported a trade surplus of QR24.29bn in January 2023, according to official estimates.The country's total exports (valued free on board) amounted to QR33.99bn, while the total imports (cost, insurance, and freight) were QR9.7bn in the review period, according to figures released by the Planning and Statistics Authority.However, the trade surplus shrank 6.2% and 14% year-on-year and month-on-month respectively in January 2023.Asia/South East Asia constituted a majority of Qatar's exports in January 2023; while imports came from variegated sources.The country's total exports of goods (including exports of goods of domestic origin and re-exports) showed 4.4% and 11.3% contraction year-on-year and month-on-month respectively in January 2023.In January this year, Qatar's shipments to China amounted to QR6.27bn or 18.4% of the total exports of the country, followed by India QR4.29bn (12.6%), South Korea QR3.61bn (10.6%), Japan QR3.38bn (9.9%) and Singapore QR2.36bn (6.9%).On a yearly basis, Qatar's exports to Japan decreased by 15.52%, South Korea by 13.21% and China by 8.76%; whereas those to Singapore rose 11.57% and India by 2.66% in January 2023.On a monthly basis, Qatar's exports to China and South Korea shrank 25.3% and 7.22%; while those to Singapore, Japan, and India shot up 40.09%, 25.05%, and 1.9% respectively in the review period.The exports of petroleum gases and other gaseous hydrocarbons were up 0.3% on an annualised basis to QR22.06bn and non-crude by 9.6% to QR3.17bn; even as those of crude plummeted 10.4% to QR4.97bn and other commodities by 31% to QR2.96bn.On a monthly basis, the exports of other non-specified commodities tanked by 21.9%, petroleum gases by 15.8%, and crude by 0.8%; even as non-crude zoomed by 32.4% in January 2023.Petroleum gases constituted 66.53% of the exports of total domestic products in January 2023 compared to 63.35% a year ago period; followed by crude 14.99% (15.98%), non-crude 9.6% (8.32%) and other commodities 8.93% (12.35%).Qatar's total imports registered a 0.5% growth year-on-year but shrank 3.7% month-on-month in January 2023.The country's imports from China stood at QR1.54bn, which accounted for 15.8% of the total imports; followed by the US at QR1.05bn (10.8%), Italy at QR0.98bn (10.1%), India at QR0.59bn (6%) and Germany QR0.55bn (5.6%) at the end of January 2023.On a yearly basis, Qatar's imports from Italy more than doubled and those from Germany grew 23.02%; whereas those from China, India, and the US declined 34.11%, 17.02%, and 2.32% respectively this January.On a monthly basis, the country's imports from the US and Germany plunged 46.92% and 29.22%; while those from Italy, China, and India shot up 8.07%, 6.59%, and 5.41% respectively in the review period.In January 2023, "Turbojets, turbo-propellers, and Other Gas Turbines; Parts Thereof" was at the top of the imported group of commodities, valued at QR1bn, showing an increase of 72% year-on-year.In second place was “Electrical Apparatus for Line Telephony/Telegraphy, Telephone Sets Etc.; Parts Thereof” with QR0.5bn, registering an increase of 29.5% on annualised basis.In third place was "Motor Cars & Other Motor Vehicles for The Transport of Persons” with QR0.4bn, an increase of 16.8% on a yearly basis in January 2023.

Qatar saw increased ESG (environment, social and governance) reporting across the board with its sustainable loans reaching a record $5bn in 2022, according to Arthur D Little, an international consulting firm.Qatar's $5bn sustainable loans constituted 17.4% of Middle East and North Africa's (Mena) total volume, it said in a report.Qatar, home to the Mena region’s biggest bank, has enacted a series of initiatives to make at least $75bn available for sustainable investments, as explained in Invest Qatar’s ESG report, it said, highlighting that Doha is looking to make ESG reporting mandatory some time in 2023.The report said financial institutions in the Mena have adopted ESG as a key strategic element in their commitment to going green.An impressive $24.55bn in green and sustainable finance was generated by the Mena region in 2021, an increase from $3.8bn in 2020, achieving an "extraordinary" 532% year-over-year growth, the report said."Green issuances from countries in the Mena are not standing still but are in fact outpacing global growth. With new reporting requirements taking effect, banks are facing an urgent need to kick-start their strategies and execute concepts throughout their organisations," said Andreas Buelow, partner, Arthur D Little.Nael Amin, senior manager (Financial Services Practice), Arthur D Little, said many financial institutions in the Middle East have designed comprehensive ESG strategies that open the door to new pathways to top-line growth, business opportunities, cost reductions, regulatory compliance, and employee satisfaction."This growing trend demonstrates the momentum that ESG is gathering in financial institutions, as the world’s banks increasingly emphasise ESG and infuse it into their business models. Banks in the Middle East have embraced the importance of a well-defined ESG strategy," he said.During the next step of implementation, frameworks such as data governance is vitally necessary, he said, adding the shift from strategy to implementation is complex and detail oriented.Though most reporting requirements remain voluntary, the report said "there is a clear trend toward mandating external reporting in the future. Financial institutions in the Middle East must design comprehensive strategies to cover the spectrum of ESG applications and comply with stronger reporting requirements."

The foreign institutions’ substantially increased net buying Tuesday lifted the Qatar Stock Exchange and its key index rose more than 33 points and capitalisation gained in excess of QR2bn..text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[8019]**The insurance and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.31% to 10,571 points, reflecting the buoyancy in the global market amidst expectations of solid economic rebound in China.The market, which was skewed towards gainers, recovered from an intraday low of 10,506 points.The Gulf retail investors were seen net buyers, albeit at lower levels, in the main market, whose year-to-date losses were at 1.03%.About 47% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR2.48bn or 0.41% jump to QR610.49bn, mainly on account of midcap segments.The domestic institutions’ weakened net selling pressure had its influence in the main market, which saw a total of 4,726 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.01mn changed hands across 10 deals.However, the Gulf institutions were seen increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index expanded 0.31% and All Share Index by 0.33%, while Al Rayan Islamic Index (Price) shrank 0.24% in the main bourse, whose trade turnover and volumes were on the increase.The insurance sector index rose 0.97%, banks and financial services (0.86%) and telecom (0.08%); while consumer goods and services declined 0.74%, transport (0.44%), real estate (0.28%) and industrials (0.03%).Major gainers in the main market included Estithmar Holding, Medicare Group, Dlala, Qatar Insurance, QNB, QIIB and Baladna. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Mannai Corporation, Ahlibank Qatar, Inma Holding, Mekdam Holding, Qatar Electricity and Water, Barwa, Milaha and Gulf Warehousing were among the shakers in the main market.The foreign institutions’ net buying increased substantially to QR46.85mn compared to QR8.64mn on February 27.The Gulf retail investors turned net buyers to the tune of QR0.38mn against net sellers of QR0.36mn the previous day.The domestic institutions’ net profit booking declined perceptibly to QR1.48mn compared to QR8.98mn on Monday.However, the Gulf institutions’ net selling expanded significantly to QR45.51mn against QR11.74mn on February 27.The Arab individual investors’ net selling grew noticeably to QR4.4mn compared to QR1.32mn the previous day.The foreign retail investors’ net profit booking rose markedly to QR1.99mn against QR0.4mn on Monday.The Arab institutions were net sellers to the extent of QR0.09mn compared with no major net exposure on February 27.The local individual investors’ net buying shrank notably to QR6.23mn compared to QR13.17mn the previous day.The main market saw a 86% surge in trade volumes to 187.21mn shares to more than double value to QR740.17mn on 11% higher deals at 15,111.

Strategic location and technological infrastructure make Doha a promising candidate for transforming its agritech industry in the Middle East and North Africa (Mena) region, according to the Investment Promotion Agency (IPA) Qatar.Vertical farms and hydroponics offer vast opportunities to leverage from biotechnology to expand agriculture in Doha, said Invest Qatar in its report."Qatar is a promising candidate for transformation of its agritech industry in the Mena region because of its strategic location and tech infrastructure," it said.In this regard, it highlighted that Qatar has high potential for import substitution as 90% of its food is sourced from overseas; value addition has seen an 73% increase between 2000 and 2019; and as much as 51,000 hectares capacity for increasing the land used for cultivation.Finding that rising disposable income and growing population are driving increasing demand for agricultural products; the report said private consumption in Qatar is expected to grow at 5.7% this year.The report highlighted the government initiatives such as joint food security project (Qatar National Research Fund and Ministry of Municipality) aimed at investments in sustainable food systems.It also noted the partnerships between the Qatar Free Zones Authority (QFZA) and the Ministry of Municipality to create investment opportunities in agritech.The report noted that hydroponics and aquaponics with the Artificial Intelligence of Things (HAIAT) project, which was recently started at QEER (Qatar Environment and Energy Research Institute).The Qatar Development Bank (QDB) supports indoor vertical farming under Jahiz 2, which seeks to attract entrepreneurs with innovative industrial investments.IPA Qatar’s memorandum of understanding with Wadi Water will enable the company to invest in innovative technologies in the agriculture industry.Mahaseel, owned by Hassad food, supports local agricultural production and private sector investments in agritech innovation.Qatar’s vegetable and green fodder production values are expected to increase "significantly" to achieve the national target of 80% self-sufficiency, the report said.Qatar is well developed for agricultural production investments, supported by government policies, increasing consumption and disposable income. It is promotes investment in agriculture as part of its food security strategy.Highlighting that tech-based agricultural practices in Middle East and North Africa (Mena) have revolutionised agri-food sector investments; it said licensed IoT connections in Mena is slated to more than double to 70mn by 2025, enhancing the potential of agritech in the region.On the growing promise in the Mena agritech industry, the report said 33 investment deals in agritech startups amounting to $250mn in disclosed investments in the region from 2014 to 2020.The report found that as much as 70% of the global total usage of technologies like hydroponic farming, drip irrigation, and desalination plants are utilised in Mena's agriculture sector.Highlighting that the controlled environment agriculture (CEA) is widely used in hot environments to improve the productivity of crops; it said "it is estimated that 70% of fresh vegetables and fruits could be economically grown in the Mena region using CEA."

The Qatar Stock Exchange on Sunday opened the week on a stronger note as its key index gained 70 points, mainly on the back of stronger buying interests of foreign institutions..text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[8019]**The insurance counter witnessed higher than average demand as the 20-stock Qatar Index rose 0.66% to 10,541.6 points.The market, which was skewed towards gainers, was seen recovering from an intraday low of 10,450 points.The domestic institutions’ weakened net profit booking had its influence in the main market, whose year-to-date losses were curtailed to 1.31%.More than 53% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR2.79bn or 0.46% jump to QR606.42bn, mainly on account of midcap segments.The local retail investors continued to be net buyers but with lesser intensity in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn changed hands across seven deals.The Gulf institutions were seen net sellers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index expanded 0.66%, All Share Index by 0.56% and Al Rayan Islamic Index (Price) by 0.33% in the main bourse, whose trade turnover and volumes were on the decline.The insurance sector index surged 6.36%, banks and financial services (0.94%), real estate (0.5%) and industrials (0.22%); while transport declined 2.03%, telecom (0.4%) and consumer goods and services (0.22%).Major gainers in the main market included Qatar Insurance, QLM, Mannai Corporation, Gulf International Services, Qatari German Medical Devices, Commercial Bank, Doha Bank, Qamco, Ezdan and United Development Company.Nevertheless, Zad Holding, Gulf Warehousing, Beema, Nakilat, Qatar National Cement and Aamal Company were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.The foreign institutions’ net buying increased considerably to QR12.01mn compared to QR2.62mn on February 23.The domestic institutions’ net selling declined substantially to QR2.51mn against QR31.79mn the previous trading day.However, the Gulf institutions turned net sellers to the tune of QR15.3mn compared with net buyers of QR1.15mn last Thursday.The foreign individuals were net sellers to the extent of QR2.64mn against net buyers of QR4.45mn on February 23.The Gulf retail investors’ net profit booking grew marginally to QR0.35mn compared to QR0.02mn the previous trading day.The Arab individual investors’ net buying declined noticeably to QR3.33mn against QR13.74mn last Thursday.The local individual investors’ net buying shrank markedly to QR5.47mn compared to QR9.77mn on February 23.The Arab institutions had no major net exposure against net buyers to the extent of QR0.09mn the previous trading day.The main market saw a 22% contraction in trade volumes to 96.78mn shares, 34% in value to QR293.01mn and 35% in deals to 9,098.