Business

The Qatar Stock Exchange on Tuesday witnessed intense gyrations intraday to finally settle 34 points lower, amid geopolitical tensions in the region.The foreign institutions were seen net profit takers as the 20-stock Qatar Index shed 0.32% to 10,573.21 points, although it touched an intraday high of 10,608 points.The banking, transport, consumer goods, insurance and real estate counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened to 2.38%.About 77% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.41bn or 0.23% to QR622.26bn on the back of small and microcap segments.The Gulf institutions were increasingly net sellers in the main market, which saw 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.09mn trade across nine deals.The Islamic index was seen declining faster the other indices in the main bourse, whose trade turnover and volumes were on the decrease.The Gulf individual investors turned bearish in the main market, which saw no trading of treasury bills.The domestic institutions’ weakened net buying had its influence on the main bourse, which saw no trading of sovereign bonds.The Total Return Index shed 0.32%, the All Islamic Index by 0.41% and the All Share Index by 0.34% in the main market.The banks and financial services sector index declined 0.82%, transport (0.6%), consumer goods and services (0.45%), insurance (0.37%) and realty (0.33%); whereas telecom and industrials gained 0.91% and 0.71% respectively.Major losers in the main market included QLM, Meeza, QIIB, Qatar General Insurance and Reinsurance, Al Faleh Educational Holding, Qatar Islamic Bank, Masraf Al Rayan, Lesha Bank, Salam International Investment, Estithmar Holding, Mesaieed Petrochemical Holding, Qamco and Ezdan.In the junior bourse, Techno Q saw its shares depreciate in value.Nevertheless, Beema, Industries Qatar, Ooredoo, Qatar Oman Investment and Mannai Corporation were among the gainers in the main bourse.The foreign funds were net sellers to the tune of QR11.07mn compared with net buyers of QR16.81mn on October 21.The Gulf institutions’ net profit booking increased perceptibly to QR5.17mn against QR3.05mn the previous day.The Gulf retail investors turned net sellers to the extent of QR1.87mn compared with net buyers of QR0.3mn on Monday.The Arab institutions were net profit takers to the tune of QR0.07mn against no major net exposure on October 21.The domestic institutions’ net buying decreased drastically to QR11.36mn compared to QR52.93mn the previous day.However, the foreign individual investors’ net buying strengthened noticeably to QR7.64mn against QR2.29mn on Monday.The Arab retail investors’ net buying strengthened noticeably to QR4.97mn compared to QR2.72mn on October 21.The Qatari individuals’ net profit booking shrank substantially to QR5.78mn against QR71.99mn the previous day.Trade volumes in the main market tanked 25% to 109.06mn shares, value by 4% to QR325.1mn and transactions by 13% to 11,696.The venture market saw flat volumes at 0.03mn equities but on 14% jump in value to QR0.08mn amidst 45% contraction in deals to 11.

Chairman of Qatar Chamber (QC), Sheikh Khalifa bin Jassim al-Thani highlighted the importance of the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Germany, explaining that the visit comes within the framework of enhancing bilateral relations and developing trade, economic and political co-operation between the two countries.In a statement, Sheikh Khalifa told Qatar News Agency (QNA) that the visit will effectively contribute to building new strategic partnerships and expanding existing investment partnerships, in addition to opening new markets for Qatari products.Chairman of QC affirmed that the visit of His Highness the Amir comes as a result of His Highness' long-term vision and as a culmination of the distinguished relations between Qatar and Germany, which go back to over 40 years, pointing out the importance of the visit in enhancing the strategic partnership between the two countries, especially in the field of economy and trade.He noted the continuous development of relations between the two countries, especially in the fields of energy, trade, culture, sports, science and politics, indicating that there are more than 300 German companies operating in Qatar in vital sectors such as energy, contracting, medical equipment, and communications.On the other hand, he said that Qatari investments in Germany exceeded EUR25bn, and include sectors such as the automotive industry, communications and banking services.The visit of His Highness the Amir to Germany will open new markers to attract investments to Qatar, especially in light of the country's world-class infrastructure and advanced legislative reforms, in addition to the best banking services in the region and around the globe.He affirmed that the Federal Republic of Germany represents an important partner for the State of Qatar, as the volume of trade exchange between the two countries reached QR7.1bn in 2023, compared to QR6.8bn in 2022, with a growth rate of 4.2%.

The National Planning Council (NPC) will unveil its strategy for database and statistics by the fourth quarter (Q4) of 2024, while it has instituted National Training Centre for Data and Statistics and announced 'Qatar Data Hackathon'."We are currently working on preparing the National Data and Statistics Strategy, which is scheduled to be launched during the last quarter of this year," NPC Secretary-General Abdulaziz bin Nasser bin Mubarak al-Khalifa told the Second Doha Data Forum for innovation in sustainable development.The strategy would address the pressing needs in the era of the digital revolution, given the pivotal and important role of data and statistics in making informed and sustainable decisions, he said in his inaugural address at the forum, which will conclude today.The proposed strategy, based on developing an integrated system for data management, is not merely a regulatory tool, but rather a comprehensive vision for leading the national data and statistics agenda, according to him."It is a new step towards achieving integration among various sectors and providing the accurate information and data necessary to support planning and development processes, in line with the Qatar National Vision 2030," al-Khalifa said.The strategy aims to develop an advanced infrastructure that provides access to high-quality and secure data, while enhancing data governance mechanisms and ensuring privacy and security."This initiative is an open call for innovation, as we seek to enable national entities to provide smart solutions and make the most of modern technologies as artificial intelligence and advanced analytics," he said.On the National Training Center for Data and Statistics, he said through this, NPC aims to develop national cadres capable of exploiting the power of data and statistics and building national capabilities in various data fields.(The centre) will “serve as a station for continuous learning and an incubator for developing advanced skills in data management and analysis, machine learning, advanced analytics, and modern data technologies," he said.Elaborating on 'Qatar Data Hackathon', al-Khalifa said this initiative is not just a competition, but rather a platform to empower young talents and stimulate innovative thinking to find practical solutions to the challenges facing various sectors."Through this initiative, we will work to highlight smart ideas that contribute to improving the quality of life and enhancing performance in various fields," he added.The event is being attended by experts in official statistics, data and environment science, and geographic information technology from Qatar, and from specialised UN organisations such as the statistics division, Unicef (United Nations Children's Fund), Unesco (The United Nations Educational, Scientific and Cultural Organisation), ILO (International Labour Organisation), UNDP (The United Nations Development Programme), WHO (World Health Organisation), UNFPA (The United Nations Population Fund), UN Women, ESCWA, the UK Office for National Statistics, Statistics Finland and GCC (Gulf Co-operation Council) Statistical Center.

The Qatar Financial Centre Authority (QFCA) has entered into a memorandum of understanding (MoU) with Qatar Manpower Solutions Company (Jusour), to establish a collaborative framework aimed at advancing both parties' strategic interests.According to the MoU, QFC and Jusour will co-operate to promote the latter’s programmes focused on entrepreneurship, labour distribution, and talent market enhancement, including key initiatives like “Mustaqel”, “Sahem”, and “Tadweer”.The two parties will promote each other’s brands through their respective digital platforms and events and launch joint initiatives to drive development within the framework of the partnership."The QFC has long recognised the strong link between a supportive business environment, rich talent pool, sound employment practices, and increased productivity, all of which contribute to socio-economic growth. We are eager to begin working towards the goals outlined in this MoU," said QFC Authority chief executive officer Yousuf Mohamed al-Jaida.This strategic alliance lays the groundwork for leveraging the combined strengths of QFC and Jusour to drive innovation in the job market and support business growth in Qatar.Abdulhadi Bakhit Barqan, chief executive officer of Jusour emphasised that this collaboration is integral to strengthening strategic partnerships across various sectors in Qatar."At Jusour, we are dedicated to empowering individuals to realise their professional ambitions through our diverse programs, providing essential support and opportunities that open new horizons. Our vision is to be a key driver in the Qatari labour market and a leader in effective partnerships," he said.

HE the Chairperson of Qatari Businessmen Association (QBA) Sheikh Faisal bin Qassim al-Thani highlighted the importance of the official visit by His Highness the Amir Sheikh Tamim bin Hamad al-Thani to the Federal Republic of Germany as it will open new avenues for partnership and co-operation in various fields to serve the mutual interests of both nations, while stressing Qatar's strategic relations with Germany.In an exclusive statement to Qatar News Agency (QNA), HE Sheikh Faisal bin Qassim al-Thani said that this visit would support Qatar's transition towards a knowledge-based and innovative economy through the establishment of strong partnerships in which the private sector of both countries will play a pivotal role.He stressed the prominence of Qatari investments in Germany and noted that Germany has executed large-scale projects in Qatar, particularly in infrastructure.He also recalled the role that the QBA has played in strengthening the partnership between the two nations, citing the association's most recent visit to Berlin in May 2024. During that visit, a delegation from the association conducted field tours of leading German companies specialising in technology, healthcare, tourism, and other sectors.Concluding his remarks, HE Sheikh Faisal bin Qassim al-Thani pointed to discussions between businessmen from both countries, which focused on exploring investment opportunities and overcoming obstacles facing private companies. He cited an example of how Siemens, a German company and a member of the association, has enhanced bilateral relations by transferring technology across various sectors, which will further increase trade exchange. He added that Qatar has established cooperation with Germany in various fields, including tourism and healthcare.He also mentioned the Qatar-Germany partnership in the energy sector, highlighting the signing of a contract for Qatar to supply Germany with liquefied natural gas starting in 2026.

Doha Bank has announced the launch of Fawran for online purchases, now available via QPay.As the first and only bank in Qatar to partner with Qatar Central Bank (QCB) and offer Fawran for local e-commerce transactions, Doha Bank continues to lead the way in digital payment solutions.The new Fawran integration with QPay enables Doha Bank customers to make fast, secure online payments with selected merchants, including leading retailers in the fashion, electronics, and home goods sectors. By choosing the Fawran option at checkout, customers can now enjoy a streamlined shopping experience, ensuring both convenience and security.Fawran’s payment process includes robust security measures, such as OTP verification, ensuring that every transaction is safe and protected. Additionally, the speed and simplicity of the system allow customers to complete purchases in just a few steps, enhancing the overall online shopping experience.Doha Bank Deputy CEO Dimitrios Kokosioulis said, “The introduction of Fawran on QPay represents another significant step in our journey towards enhancing digital payment solutions for our customers. As the first bank in Qatar to offer this service, we are proud to lead the way in providing faster, more convenient, and secure online payment options. This innovation not only simplifies the shopping experience but also reinforces our commitment to driving digital transformation in line with Qatar’s national vision.”Doha Bank is inviting customers to start using Fawran on QPay by selecting the Fawran payment option during checkout for a fast and secure shopping experience. For more details on how to use Fawran on QPay, visit the Doha Bank website or the QPay platform.

Chairman of the German Federal Association of Small and Medium-Sized Businesses (BVMW), Christoph Ahlhaus hailed Qatar as one of Germany's key political and economic partner countries.Interviewed by Qatar News Agency (QNA), Ahlhaus said that His Highness the Amir Sheikh Tamim bin Hamad al-Thani's visit to Germany "sends a very strong signal, especially to SMEs, which view Qatar as a key business and future partner".Commenting on the Qatari market opportunities, he said that many SMEs view Qatar as "a reliable and capable partner for future growth as well as an attractive market."Furthermore, Qatar can serve as a stable economic hub for business activities across the Near and Middle East".He added that the BVMW provides information and guidance to its members and companies wishing to explore business opportunities in Qatar."Companies who are entering a new market and new culture have many, many questions. We aim to address these questions with the help of our extensive network, thereby clearing any hurdles of a successful start," he said.He also spoke about the initiatives to further boost relations between SMEs in both countries and if there are any special initiatives that represent a priority in this context, the Chairman of the BVMW said that Qatar is a very important partner for Germany and is of growing political and economic importance. He said, "The BVMW is fully prepared to offer information and guidance to companies who are interested in establishing successful business ventures in or with Qatar.He added that this support can be made from the BVMW's offices in Germany or Doha.He added the BVMW is organising a delegation trip to Qatar to measure German companies interest in investing in Qatar, and when they can establish new businesses in Doha.Asked if there were plans to organise events or trade missions to help German SMEs enter the Qatari market, Ahlhaus voiced hopes the Qatari companies can engage in the annual SME Future Day 2025 (Mittelstand) in Berlin."It will be a very, very big exhibition of the German SMEs and with many politicians. So maybe this could be a point where Qatar can also be engaged and show what they can offer for German companies to come and to invest in Qatar," he said.He expressed his happiness at His Highness the Amir Sheikh Tamim bin Hamad al-Thani's visit to Germany, the bilateral friendship and the special, unique and successful co-operation between the two countries, which will undoubtedly reflect positively on the future of bilateral co-operation.

Aamal Company reported a QR302.4mn net profit in the first nine months of 2024, a 13.9% year-on-year (y-o-y) increase from QR265.4mn.Total revenue for the same period showed a 3.2% y-o-y increase to QR1,598.2mn from QR1,549.4mn, while gross profit rose 9.0% to QR392.4mn from last year’s QR359.8mn.Similarly, reported earnings per share increased by 13.9% to QR0.048 from QR0.042 in the same period last year. Net capital expenditure increased by QR11.4mn to QR30.0mn compared to QR18.6mn in 2023. Conversely, gearing decreased to 0.74% compared to 2.8% last year.Sheikh Mohamed bin Faisal al-Thani, vice-chairman and managing director of Aamal, said: “Aamal’s strong financial performance during the first nine months of 2024 again highlights the strength of our diversified business model, with revenue up 3.2% y-o-y and net profit up 14.6%.“It’s a model that provides continued resilience, enabling us to achieve sustainable growth and capitalise on the vast opportunities generated by Qatar’s dynamic economy. I am pleased to report robust net profit growth across the majority of the sectors in which Aamal operates, including property, industrial manufacturing, and managed services.He added: “Within the industrial manufacturing segment, key contributors were Senyar Industries, driven by higher revenue volumes from the Kahramaa project, along with Aamal Readymix.“While our trading and distribution segment overall experienced a slight decline in net profit due to delays in deliveries, and the renewal of service contracts for Aamal Medical, our Ebn Sina Medical and Aamal Trading and Distribution subsidiaries performed well. As we look ahead to 2025, Aamal is well-placed to build on this year’s successes, delivering for all our stakeholders.”Rashid bin Ali al-Mansoori, CEO of Aamal, added: “Aamal’s positive performance this year reflects the strategic initiatives we are successfully implementing to enhance our core operations and support both organic growth and the acquisition of complementary businesses that generate new revenue streams. For example, the refurbishment and upgrade investments we have made in property have led to continued high demand for our properties, while the acquisition of maintenance managed solutions has further strengthened our position in managed services.He added: “Key highlights include El Sewedy Cables Qatar securing a three-year contract worth over QR1bn from Qatar General Electricity & Water Corporation (Kahramaa) to supply engineering, procurement and construction services, including the installation of 132kV power cables for strategic projects.“Also in industrial manufacturing, Qatar Development Bank’s recognition of Doha Cables as a leading exporter reflects our ability to expand our market reach, and we are actively exploring the viability of fully acquiring Advanced Pipes and Casts Company. Elsewhere, we expect our property segment to benefit from the enhanced accessibility provided by the opening of the direct bridge between the DECC Metro Station and the second floor of City Center Doha. Aamal remains fully focused on identifying and maximising all business opportunities that will create long-term shareholder value.”

Mannai Corporation has reported a 46% year-on-year increase in net profit to QR63mn in January-September 2024, driven by jewellery business and rebounding of other Qatar businesses."We expect to continue this positive momentum across our broad range of businesses during the reminder of the year," the company said in a statement.Group revenue for the nine-month period was QR4.1bn, an increase of QR114m over last year same period, mainly driven by growth in the jewellery business.The company’s earnings before interest, taxes, depreciation and amortisation (Ebitda) for the period stood at QR376mn against QR365mn the same period last year. The group earnings before interest and taxes amounted to QR236mn.The statement also said Michael Deeter, chief executive officer Qatar, is stepping down on October 31, to pursue other interests. The board has accepted his resignation and thanked Deeter for his contribution to Mannai over the last four years.

HE the Governor of Qatar Central Bank (QCB) and Chairman of Qatar Investment Authority, Sheikh Bandar bin Mohammed bin Saoud al-Thani met, during his visit to Washington DC, Elon Musk, Founder of SpaceX.During the meeting, they reviewed key global financial and investment developments, QCB said in a release on Tuesday.

Lulu Retail Holdings, which runs one of the Middle East's biggest hypermarket chains, kicked off an initial public offering on Monday that bankers say could be the UAE's largest this year.The offering by the conglomerate that runs more than 240 stores in the six countries belonging to the GCC comes during a retail spending boom in the region that is spurring domestic listings by companies in the sector.The listing, set to run from October 28 to November 5, will offer more than 2.582bn shares, which are expected to start trading on the Abu Dhabi Securities Exchange on November 14, Lulu's IPO document showed.Two sources involved in the transaction said the offering could raise between $1.7bn – $1.8bn for the 25% stake. Lulu declined to comment on the value of the deal.Founded in 1974 by Indian businessman Yusuffali MA, Lulu joins other grocery firms that have listed, such as UAE-based Spinneys this year, and Saudi grocery retailer BinDawood Holding in 2020.Lulu said in the IPO document that it aimed to maintain a total dividend payout ratio of 75% of annual distributable profits after tax, and to make the payout twice a year, subject to relevant parameters. Its first-half revenue of $3.9bn this year was up 5.6% on the year, while full-year revenue in 2023 rose 5.6% to $7.3bn.The annual increase in revenue was primarily driven by sales growth from existing stores and further expansion of the group’s store network, as well as growth from its online channel.Core earnings in the first half of 2024 stood at $391mn, up 4.3% on the year. Annual core earnings in 2023 rose 7.2% to $753mn.Lulu Group is the largest full-line retailer with stores in all GCC countries by selling space, sales and number of stores in 2023. The Group was the second-largest grocery retailer in UAE and largest in Oman, Qatar, Bahrain, and Kuwait and the fastest-growing and largest pan-GCC retailer in Saudi Arabia, according to market consultants.It currently has a strong omni-channel presence in the form of three formats – hypermarkets, express stores and mini-markets.By August this year, the group operated 240 stores, comprising 116 hypermarkets, 102 express stores and 22 mini markets with 103 stores located in the UAE, 56 in Saudi Arabia and 81 across other markets.The group’s total selling space (as of December 31, 2023) was approximately 1.3mn square metres, which was around three times higher than the average selling space of its listed peers in the GCC. The retailer, on average, served over 600,000 daily shoppers in 2023. Sourcing products from 85 countries, it operates a network of some 21 distribution centres in the GCC to support its retail operations.Yusuffali MA, founder, chairman of Lulu Retail, said the firm has exceeded its own expectations as it operates more than 240 stores across six GCC countries.“Integral to our growth is the vision and ambition of GCC nations where strong national leadership is enabling positive demographic and consumption trends and driving impressive economic growth. We are looking forward to welcoming new shareholders to Lulu and are sure they will share our passion for the company and excitement for the future,” he said.“Lulu is a brand synonymous with retail in the GCC and we are incredibly proud to announce the launch our IPO today. Over the past 50 years, we have grown from one store in Abu Dhabi to the largest pan-GCC retailer by market share and the fastest-growing player of scale in Saudi Arabia.“Every day, Lulu serves more than 600,000 shoppers, enabled by our unmatched international sourcing network across 85 countries, ensuring we are deeply rooted in all GCC markets and able to offer over 200,000 active SKUs, catering to all our customers’ diverse needs," he added.It plans to pay a dividend for the six months ending on December 31 in the first half of 2025.The company posted $7.27bn revenues in 2023, up from $6.89bn in the previous year.

Doha Bank reported a 10.1% year-on-year (y-o-y) net profit increase to reach QR690mn in the first nine months of 2024.Doha Bank Chairman Sheikh Fahad bin Mohammad bin Jabor al-Thani said total assets stood at QR109.9bn, a 14.1% increase or QR13.6bn, compared to QR96.3bn same period last year; while net loans and advances reached QR61.1bn, up 7.9% y-o-y.Customer deposits grew by QR6.6bn or 14.5% higher to reach QR51.9bn compared to QR45.3bn last year.Doha Bank Managing Director Sheikh Abdul Rahman bin Mohammad bin Jabor al-Thani said, “The bank continues to maintain stable capital and liquidity positions. The Common Equity Tier 1 (CET1) ratio reached 13.52% and the Total Capital Adequacy Ratio is strong at 19.74%.“The loan-to-deposit ratio continues to be within regulatory limits, reaching 98.34%. The bank has significantly improved its funding profile over the last nine months, and this will allow the bank to fund future lending growth, which we are anticipating for this year.”Liquidity coverage ratio continues to be high at 149%, up from year-end 142%. The total shareholder’s equity reached QR14.9bn, showing an increase of 3.9% as compared to last year.Doha Bank Group CEO Sheikh Abdulrahman bin Fahad bin Faisal al-Thani said, “The bank remains on course with the Himma Transformation. The improved financial performance reflects Doha Bank's Himma transformation journey, which involves putting its strategic goals into action. Increasing the growth of profitable assets and low-cost liabilities, improving our digital capabilities, increasing cost efficiencies, and bolstering the bank's stability and sustainability will remain our top priority. Our goal as a bank is to provide our investors with sustainable growth and long-term value.”

The Qatar Stock Exchange on Monday fell about eight points despite five of the seven sectors witnessing buying interests.The local retail investors were seen net profit takers as the 20-stock Qatar Index shed 0.08% to 10,607.09 points, although it touched an intraday high of 10,631 points.The telecom and insurance counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened to 2.06%.About 53% of the traded constituents were in the red in the main bourse, whose capitalisation was up QR0.19bn or 0.03% to QR623.67bn on the back of microcap segments.The foreign individuals’ weakened net buying had its influence on the main market, which saw 0.07mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.18mn trade across 16 deals.The Islamic index was seen declining faster the main barometer in the main bourse, whose trade turnover and volumes were on the increase.The Gulf individual investors’ lower net buying had its say in the main market, which saw no trading of treasury bills.The Gulf institutions continued to be bearish but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was down 0.08% and the All Islamic Index by 0.22%, while the All Share Index was up 0.02% in the main market.The telecom sector index tanked 1.45% and insurance (0.64%); whereas industrials gained 0.29%, real estate (0.28%), consumer goods and services (0.18%), banks and financial services (0.05%) and transport (0.04%).Major losers in the main market included Meeza, Qatar Islamic Bank, Ooredoo, Ezdan, Alijarah Holding, Dlala, Medicare Group, Baladna, Estithmar Holding, Qatar Insurance and Vodafone Qatar.In the junior bourse, Al Mahhar Holding saw its shares depreciate in value.Nevertheless, Al Meera, Salam International Investment, QNB, Al Faleh Educational Holding and Barwa were among the gainers in the main bourse.In the venture market, Techno Q saw its shares appreciate in value.The Qatari individuals were net sellers to the tune of QR71.99mn compared with net buyers of QR1.19mn on October 20.The foreign individual investors’ net buying declined noticeably to QR2.29mn against QR7.71mn the previous day.The Gulf retail investors’ net buying weakened marginally to QR0.3mn compared to QR0.76mn on Sunday.However, the domestic institutions’ net buying increased drastically to QR52.93mn against QR8.41mn on October 20.The foreign funds were net buyers to the extent of QR16.81mn compared with net sellers of QR13.14mn the previous day.The Arab individual investors’ net buying strengthened notably to QR2.72mn against QR0.55mn on Sunday.The Gulf institutions’ net profit booking fell perceptibly to QR3.05mn compared to QR5.49mn on October 20.The Arab institutions had no major net exposure for the second straight session.Trade volumes in the main market shot up 89% to 144.78mn shares and value by 94% to QR339.25mn on more than doubled transactions to 13,506.The venture market saw as many as 0.03mn equities valued at QR0.07mn change hands across 11 deals.

Six exceptional individuals will be recognised for their contributions to the energy industry at the 2024 Abdullah Bin Hamad Al Attiyah International Energy Awards for Lifetime Achievement in Doha today, which will be attended by more than 300 global leaders from the energy sector.The awards celebrate the legacy of HE Abdullah bin Hamad al-Attiyah, Qatar’s former Deputy Prime Minister and Minister of Energy and Industry, by honouring individuals for lifetime achievements in their fields of work and policy.The ‘Lifetime Achievement Awards’, recognised as a benchmark of excellence, will be presented in the following categories: Qatar’s energy industry, natural gas, education for future energy leaders, renewables, journalism, and international energy policy and diplomacy.The winners are selected based on their significant and long-lasting impact on their respective sectors, embodying leadership, innovation, and dedication to the future of energy.ExxonMobil, North Oil Company and TotalEnergies are the sponsors of this year’s ceremony and gala dinner at the Sheraton Grand Hotel Resort and Convention Centre.Since its inception in 2015, the Al Attiyah Foundation has remained unwaveringly committed to providing expert analysis and insights on serious global, regional, and country-specific challenges and opportunities in the areas of energy and sustainable development.Themes in these areas are explored through its publications including industry leading research papers, current affairs articles, daily news briefings and regular podcast interviews with important personalities.Global experts are also invited to share their opinions with Foundation members and partners during the quarterly CEO Roundtables and a new interactive Webinar Series.In addition, Attiyah Foundation’s Sustainable Development Directorate produces an annual book on a pertinent subject.The foundation’s continued growth is only possible due to its esteemed member organisations, who are some of the most important companies in the world.Its members are: QatarEnergy, Woqod, QatarEnergy LNG, QNB, QEWC, Dolphin Energy, ConocoPhillips, Shell, Qapco, Qchem, JTA International Investment Holding, Gulf Helicopters, Qafco, Marubeni, Sasol and Qatar Cool.

International Chamber of Commerce Qatar (ICC Qatar) chairman Sheikh Khalifa bin Jassim al-Thani has led a delegation to the ICC World Chambers Federation (WCF) Europe & Asia Regional Summit and its sideline events held recently in Istanbul, Türkiye.In his role as an ICC executive board member, a position he has held since 2020 and is now serving in his second term, Sheikh Khalifa, who is also chairman of Qatar Chamber, participated in the quarterly ICC executive board meeting. The board is responsible for shaping and implementing ICC’s strategy, policy, and program of action, as well as overseeing the organization’s financial affairs.Sheikha Tamader al-Thani, secretary-general of ICC Qatar and director of International Relations and Chamber Affairs at Qatar Chamber, participated in the WCF General Council Meeting in her capacity as an appointed ICC WCF General Council member. The WCF General Council is a key governance body responsible for setting the strategic direction and overseeing the development of WCF services and activities.ICC Qatar, at the staff level, participated in the ICC Broader Middle East and North Africa (B-Mena) Regional Consultative Group Meeting, which addressed regional affairs, opportunities, and challenges.The Europe & Asia Regional Summit, held in Istanbul, Türkiye, gathered approximately 800 delegates from countries all over the world. The event, under the theme ‘A Collaborative Approach to Climate Action’, highlighted the latest developments in climate change and raised awareness of the practices that chambers of commerce and the business community are implementing to address climate risks. Discussions covered investment plans, corporate strategies, and corporate social responsibilities.In addition to attending sessions, the ICC Qatar delegation engaged in networking with chamber executives and business delegations from various countries, as well as participating in B2B meetings organised during the event.

More than 120 startups and SMEs (small and medium enterprises) from various Arab countries will be in Doha for the region’s largest entrepreneurship event: ROWAD Entrepreneurship conference, in its 10th edition, and The Arab SMEs Summit 2024, which is scheduled to be held at the Doha Exhibition and Convention Center (DECC) from November 18-20.Qatar Development Bank (QDB), in partnership with the United Nations Economic and Social Commission for Western Asia (ESCWA), on Monday announced the theme for this year’s edition, which is “Navigating Digital Horizons” reflecting the growing role of digital innovation in the global business landscape.The event is expected to bring together prominent entrepreneurs, innovators, policymakers, and experts from across the Arab world, making it a focal point for knowledge sharing and collaboration on digital entrepreneurship.“Rowad started as a platform to support startups and SMEs in Qatar, encouraging collaboration and growth. Today, after ten years of continuous effort and notable achievements, we are hosting the largest edition yet, welcoming entrepreneurs from across the Arab world," said Dr Hamad Salem Mejegheer, executive director (Advisory and Incubation) at QDB.Kareem Hassan, executive director of the UN-ESCWA Technology Centre for Development and Co-ordinator of the Arab SMEs Summit, said this year, in partnership with QDB, it is looking forward to creating a "unique platform" in Doha that opens new horizons for startups to enter new markets and achieve excellence and sustainability."The summit aims to create real networking and collaboration opportunities, strengthening entrepreneurship as a key pillar for sustainable economic development in the Arab region,” he added.This year’s Rowad conference will feature a diverse range of activities, including an expo showcasing over 120 startups and SMEs from various Arab countries. These companies will present their innovative solutions and share insights into their entrepreneurial journeys.The three-day event will also host 18 workshops across five main tracks, offering training opportunities for over 300 startups and SMEs. More than 50 speakers and industry experts will contribute to the sessions, delivering actionable insights into the digital economy and fostering collaboration between participants.More than 23 partner organisations will be involved in organising several activities throughout the conference, including training sessions, mentoring, networking events, B2B matchmaking, and field visits to major entrepreneurship hubs in Qatar. These efforts aim to provide the participating startups with comprehensive, diverse support filled with knowledge and opportunities.This year's edition of the Rowad conference will be the most comprehensive since its inception, builds upon the success of previous editions and the expanded focus on the broader Arab region following last year’s Gulf-focused event. This growth highlights Qatar’s ongoing commitment to supporting entrepreneurship, both locally and regionally, and further solidifies Doha’s position as a leading hub for innovation and entrepreneurial excellence in the Arab world.

Retail customers in Qatar can now make use of the Qatar Central Bank’s ‘Fawran’ payment service through the National E-Commerce Gateway – ‘QPay’.According to the QCB, the instant payment service can be availed of “via mobile number or alias.”A key feature of ‘Fawran’ payment service for retail customers is that they don’t have to use bank cards for local online shopping.The service “ensures adherence to the highest security and protection standards in payment processing through Qatar Central Bank systems.”To accept customer payments, merchants in Qatar should register for Fawran service.Currently, Doha Bank is the participant in Fawran’ payment service through QPay.Fawran is considered one of the innovative and advanced services, in line with the third strategy for the financial sector in the country and in continuation of the QCB's efforts to develop the infrastructure of payment systems and keep pace with the latest developments in payment systems and electronic transfer of funds.Fawran was designed in accordance with a system based on the latest technologies and security standards, to maintain the security and confidentiality of the information created by the QCB to enable financial institutions to provide the service to their customers with complete reliability.One of the most prominent advantages provided by the instant payment service is enabling bank customers to send and receive money in the country immediately, and within moments. It will also be available round-the-clock without interruption.Earlier, the QCB noted that the launch of the Fawran is part of the projects it has undertaken to enhance the country's payment system.This initiative plays a significant role in strengthening the financial sector, providing diverse payment options for all segments of society, facilitating payment processes, and reducing reliance on cash, thereby lowering associated costs.

Qatar University (QU) and Manateq have signed a memorandum of understanding (MoU) to strengthen co-operation in a variety of scientific, technical, research, and administrative fields.The MoU was signed by Prof Ibrahim Mohammed al-Kaabi, vice-president for Academic Affairs at QU, and Mohammed al-Emadi, acting chief executive officer of Manateq, at an official ceremony attended by senior officials from both institutions.This strategic partnership aims to establish long-term collaboration that promotes the exchange of expertise and information, such as newsletters, journals, statistics, and data.It encompasses joint efforts in organising studies, conferences, meetings, training programmes, research projects, and other activities of mutual interest.The MoU reflects the shared commitment to sustainability through initiatives aligned with Qatar National Vision 2030 and the United Nations sustainable development goals (SDGs)."This partnership in applied research and capacity building reflects our shared dedication to promoting innovation and practical knowledge. Through close collaboration with Manateq, we aim to strengthen our social impact, provide our students with hands-on experience, and contribute to finding solutions for the challenges faced by our business partners, thereby fostering sustainable growth in our community,” said Prof Rana Sobh, Dean of the College of Business and Economics at QU.Al-Emadi said signing this MoU with QU reflects Manateq's commitment to fostering collaboration between the academic and economic sectors in Qatar."We believe that the exchange of expertise and research-driven knowledge is the key to developing innovative solutions that contribute to achieving Qatar National Vision 2030. Through this partnership with QU, we aim to enhance sustainable development and develop local competencies, which will positively impact the business community and investment environment in the country,” he added.This MoU reflects the shared vision of QU and Manateq to foster a culture of innovation by linking academic research with market needs, driving economic competitiveness, and supporting the growth of local industries.

UBS Group AG is asking its bankers to rethink the way they discuss some sustainable products in public following advice from its lawyers, according to people familiar with the matter.The development affects the kind of language bankers are free to use when presenting a whole array of topics spanning net-zero goals to individual transactions for clients, the people said asking not to be identified revealing internal deliberations. Specific products such as debt-for-nature swaps are among those affected by the heightened level of legal anxiety, one of the people said.A spokesperson for UBS declined to comment.The decision to rein in the use of certain ESG (environmental, social, governance) product labels and claims at UBS coincides with a wider shift inside the finance industry, as regulators in Europe churn out stricter rules and the number of activist lawsuits increases. In the US, meanwhile, ESG labels risk triggering the ire of Republican lawmakers intent on banning the financial strategy outright.The guidance at UBS is designed to ensure the bank isn’t accused of greenwashing or seen to be non-compliant with emerging regulations, one of the people familiar with the matter said.The alternative language that lawyers are coming up with is replacing shorthand descriptions that have become the norm in the market. For example, in the case of debt-for-nature swaps — which are intended to help governments refinance debt and then put savings toward conservation — lawyers at UBS are asking bankers to instead refer to the products as Country Debt Conversion With Associated Sustainable Development Goal Funding, according to one of the people familiar with the matter.“You have to speak in longer sentences if you want to fully convey what you’re talking about,” said Anna-Marie Slot, co-founder of advisory firm Transition Value Partners and a former partner for global sustainability at law firm Ashurst. “It doesn’t look as nice in your marketing brochure, but it’s the reality of regulated financial firms that they need to be able to explain and defend what they’re doing.”The market for debt-for-nature swaps was dominated by Credit Suisse before the bank’s takeover by UBS last year. The change in guidance around nomenclature hasn’t affected UBS’s plans to pursue such deals, one of the people familiar with the matter said.Though accepted in general market parlance, lawyers advising UBS expressed concern that the debt-for-nature-swap label is imprecise and could expose the bank to legal risk, the person said. The sustainability impact of the instruments can be difficult to document, the person said. Also, the label implies that such products function like derivatives such as interest-rate swaps, the person said.Typically, banks in the nascent market for such deals have tended to refer to them as debt conversions in client-facing documents. Before its takeover by UBS, Credit Suisse referred to a 2022 deal with Barbados as a debt-conversion-for-marine-conservation, a label it used again for a subsequent 2023 deal for Ecuador.Credit Suisse also adapted to guidance to stop referring to the bonds used in transactions targeting marine conservation as “blue,” to make clear that the instruments don’t follow the same use-of-proceeds structure as green bonds.On the separate matter of “net zero”, UBS is reviewing the bank’s use of the term, in large part due to the passage of the European Union’s Corporate Sustainability Due Diligence Directive, one of the people said. A key plank of CSDDD requires large firms to introduce transition plans that are aligned with limiting global warming to 1.5C from pre-industrial levels, a goal that many in the finance industry now fear is unrealistic.UBS Chairman Colm Kelleher said in April that the bank prioritizes its own sustainability framework over Credit Suisse’s, given what he referred to as its “broader application across sectors and generally stronger risk mitigants.” In connection with its takeover of Credit Suisse, UBS appointed Beatriz Martin to oversee sustainability, which she’ll combine with her existing role as head of non-core and legacy operations.The way in which financial firms talk about sustainability is “going from a phrase that pops up nicely on social media to a sentence on what it is you intend to do, and what dependencies you have in delivering on it,” Slot said.

Price action in some of the world’s most risk-sensitive assets is signalling concern that the Federal Reserve’s decision to begin lowering interest rates may have been premature — or may not be sustainable. Since the Fed kicked off its long-anticipated loosening cycle on September 18 with a cut of 50 basis points, double the median forecast, emerging-market assets have traded as if borrowing costs in the world’s largest economy will remain high. That’s left developing world assets in limbo, headed for another span of underperformance. In little over a month, the Fed rate cut has been eclipsed by fresh risks that are keeping global investors shy on the asset class, overshadowing the gains that Fed easing cycles might usually be expected to bring. While the threats have taken different forms — higher Treasury yields, a stronger dollar, greater volatility in currency options — the underlying themes have been just two: The potential return of Donald Trump as US president and China’s inadequate stimulus measures. That means that once again, traders in emerging markets are positioning defensively for an inflationary US economy and a deflationary Chinese one. “We remain in a world with two potentially existential threats to EM – China weakness and Trump,” said Paul McNamara, investment director at Gam UK Ltd in London. “A strong US economy without inflation is good for EM, but persistent inflation will not only postpone further cuts, but weigh on all risk assets into the medium term.” Though there was an initial boost to emerging markets from the Fed move, it was first interrupted by strong US data that revived fears of resurgent inflation, and later comments by presidential candidate Trump that exacerbated them. The Republican nominee has put tariffs and protectionism at the centre of his agenda. If implemented, that’s likely to raise consumer prices in the US and undermine demand for exports from the developing world, according to many economists. “We’re just weeks away from a US election that might lead to a Trump economic assault on the biggest EM out there, China,” said Charlie Robertson, head of macro strategy at FIM Partners. “It’s close to a coin flip as to who wins the US election, and equally makes it hard to choose a local markets trade to like.” Hedge funds have also been ramping up positions speculating on dollar gains against developing economies vulnerable to higher tariffs. EM stocks, which briefly rebounded from a record low relative to US equities after the Fed decision, are heading back to that dubious honour. Local currencies and local-currency bonds are on course for their worst month since February 2023. Segments of the dollar-bond market, like long-duration and investment-grade, also continue to trail. Bond investors have seen their returns stagnate in the month since the Fed decision. Their expectations for the developing world to follow the Fed are now being upended by central-bank caution, as policymakers from Indonesia to Hungary and Turkey decide to pause interest-rate cuts. “Eventually EM local-currency bonds should benefit from global easing,” said Anders Faergemann, a senior portfolio manager at Pinebridge Investments. “However, from a total return perspective, the relief rally in the US dollar and domestic delays to monetary-policy easing may have triggered some profit-taking.” The average yield on EM sovereign dollar bonds has edged higher by 9 basis points since September 18, while the rate on local-currency bonds has also risen 9 basis points, according to data compiled by Bloomberg. Between the two groups, the latter is underperforming in dollar returns, with currency declines acting as an additional drag. “Rising geopolitical tensions, uncertainty over China’s efforts to rescue domestic consumption, and event risk leading up to the US presidential election will also spark increased demands for a higher risk premium into year end,” Faergemann said. Strong US economic data have not only disrupted Fed monetary-policy bets but are also reshaping emerging-market yield curves. Within the dollar-bond market, investors are favouring short-duration bonds to long-duration bonds — an unlikely preference in an environment where falling rates are a consensus expectation. Bonds with a duration of more than 10 years have handed investors a loss of 3.6% since the Fed cut, while those of less than three years have given marginal gains. As of Friday, swap traders were pencilling in further reductions to their bets on Fed cuts in the remaining two meetings of the year. Citigroup’s Akshay Singal, global head of short-term interest-rate trading, told Bloomberg TV that the Fed is likely to cut rates by just 25 basis points, or even stay put, over the next few meetings. He said he doubted the Fed would have opted for a 50-basis-point cut in September if it had seen the strong jobs data before the meeting. “The combination of US Treasury yields above 4% and a pickup in economic activity in the US have called into question the idea of the beginning of a Fed cutting cycle,” said Martin Bercetche, a hedge-fund manager at UK-based Frontier Road Ltd. “We might have had a false start last month.” For emerging-market stocks, the turbulence coming from the US economic and political landscape was just one of the problems. The wildest volatility in nine years has meanwhile gripped China as successive stimulus measures initially sparked a sharp equity rally, then ultimately failed to convince investors that they were enough to turn around the economy. The EM equity benchmark, where China holds the biggest weighting, is once again trailing the S&P 500 Index, belying expectations that it would pull itself out of a seventh successive year of underperformance when the Fed started to cut rates. The bruises of the past month have forced investors to reassess their exposure, and many are avoiding the sweeping EM-wide bets they’d recommended for the post-Fed era. For the moment, the focus is on weathering the US election. With polls showing Trump is neck-and-neck with his Democratic rival Kamala Harris, a firmer view on EM has to wait. For Gam’s McNamara, there’s one scenario where the Fed-cut trades in emerging markets can begin to make money.