Business

Vodafone Qatar triumphed at the recent ‘8th Middle East Enterprise AI & Analytics Summit 2024’ in Doha, taking home three highly-coveted awards, demonstrating how it has become one of the region’s leading lights in AI and analytics.Highlighting the company’s commitment to data-driven transformation across a wide variety of industries, Vodafone Qatar was awarded in the categories of Best Customer Onboarding Solution, Innovative AI-Powered Analytics Solution, and Emerging Leader in AI of the Year 2024.The Best Customer Onboarding Solution of the year 2024 follows the launch of Vodafone Qatar’s landmark ‘Instant SIM’ a first-of-its-kind SIM pack that empowers customers to self-activate a new prepaid or postpaid connection instantly, anytime and anywhere in Qatar, setting new global standards in convenience and accessibility.Meanwhile, the Innovative AI-Powered Analytics Solution of the Year 2024 was awarded for the company’s ‘Smart Recharge Recommendations,’ an innovative tool that enhances customer experience and drives revenue growth by offering personalised recharge suggestions at point-of-sale (POS) machines.During the summit, Vodafone Qatar took part in several panel discussions and emphasised the importance of fostering collaboration to overcome barriers in deploying AI capabilities. It also advocated for how data science can bridge the gap between IT and business transformation to ensure long-term enterprise sustainability.Company experts also highlighted how data science plays a pivotal role in driving innovation and delivering value, as well as how the telecommunications service provider leverages data to enhance customer experiences, using advanced insights to offer personalized services.Key examples of AI applications were also shared, engaging the audience and underscoring the benefits of collaboration between IT and business for improved customer satisfaction and operational efficiency.Mohamed Mohsin Alyafei, Enterprise Business Unit director at Vodafone Qatar, said: “It was an honour to not only be a part of the 8th Middle East Enterprise AI and Analytics Summit but to also receive these three prestigious awards. At Vodafone, we take pride in being at the forefront of technological innovation, and we remain committed to pushing the boundaries of AI and analytics.”

QNB Group participated as the official bank sponsor for the ‘Big 5 Construct Qatar Exhibition 2024’, a platform dedicated to explore the latest trends and products in the construction sector.QNB’s sponsorship comes as part of its commitment to support innovation and excellence, as this event serves as a pivotal platform that brings together key stakeholders in the construction and infrastructure sectors, displaying the latest advancements, products, and solutions.It also reaffirms the Bank’s commitment to the sustainability framework and its effort to partake an active role in advancing and shaping the future of Qatar.The event is the largest gathering for the construction industry in Qatar, putting emphasis on innovative initiatives and cutting-edge technologies across vital sectors. The exhibition acted as a platform for all trade professionals and industry players from across the world seeking to learn about the latest trends and products in the sector.Commenting on the participation, Yousef Mahmoud al-Neama, QNB Group Chief Business Officer said, “We are pleased to be the official bank sponsor for the Big 5 Construct Qatar Exhibition, as it strongly aligns with our efforts to contribute to Qatar’s vision of sustainable development, and it highlights our commitment to promoting growth, collaboration and, and excellence within the industry.”QNB Group stands as the leading financial institution in the Middle East and Africa, recognised as one of the most valuable banking brands in the region.With a robust presence in some 28 countries across three continents – Asia, Europe, and Africa – QNB offers comprehensive financial services and solutions. The global network, backed by a commitment to innovation and excellence, serves a diverse clientele, spanning corporate, institutional, and retail sectors.QNB’s team of over 31,000 professionals is dedicated to driving growth and providing advanced, tailored products and services that meet the evolving needs of customers worldwide.

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

Qatar Airways Cargo and Qatar Post have signed a co-operation agreement, "demonstrating a shared commitment towards enhancing their strategic partnership in postal activities and mail transportation to and from Doha".The agreement aims to efficiently meet customer needs in accordance with international postal union standards, and reflects the ongoing efforts of both parties to enhance logistical infrastructure, ensuring smooth and effective co-ordination in the transportation and delivery of postal shipments.It also covers competitive rates specifically designed for postal shipments transported by Qatar Airways Cargo to Qatar Post, the national provider of postal services in Qatar.Qatar Airways Group Chief Executive Officer Badr Mohammed al-Meer said, “As the world’s leading air cargo carrier, our robust fleet and expansive network enable us to meet customer needs efficiently, in-line with international standards.“This strategic co-operation agreement reflects our commitment to improving logistical infrastructure, and ensuring smooth and effective co-ordination in delivery to and from Doha.”Qatar Post Chairman and Managing Director Faleh bin Mohammed al-Naemi said, "We are pleased to strengthen our co-operation with Qatar Airways and look forward to achieving sustainable and mutually beneficial successes in postal and logistical services that serve our customers' interests.“We emphasise the importance of forming strategic partnerships between Qatar Post and national companies adhering to global standards such as Qatar Airways.“In addition, our Mail product provides seamless 100 per cent EDI integration for bookings, a dedicated hub warehouse for streamlined operations, and end-to-end track and trace capabilities for real-time shipment visibility.”The collaboration with Qatar Airways Cargo is part of Qatar Post's efforts to enhance postal and logistical services, and achieve the highest levels of customer satisfaction, particularly in the area of shipping and delivery operations.With a daily handling capacity of up to 500 tonnes, Qatar Airways Cargo ensures efficient and secure mail transportation across its extensive global network.

Qatar Chamber Chairman Sheikh Khalifa bin Jassim al-Thani lauded the speech of His Highness the Amir Sheikh Tamim bin Hamad al-Thani during the opening of the 53rd annual session of the Shura Council, underscoring that it addressed all important issues in terms of the state’s economic development and its domestic and foreign policies.Sheikh Khalifa noted that HH the Amir began his speech by addressing the national economy, emphasising his commitment to its development and support for economic sectors in line with the Third National Development Strategy.This strategy focuses on supporting the sectors of commerce, industry, research and tourism, digital transformation, and information technology, developing financial and administrative systems and enhancing human development to achieve economic diversification and sustainability.Sheikh Khalifa said HH the Amir’s speech underscored the strength of the Qatari economy, which has continued to grow over the past year despite the anticipated decline following the completion of 2022 FIFA World Cup projects and the achievement of key infrastructure projects.He noted that estimates indicate that the GDP at constant prices has grown by 1.2%, supported by the growth of the hydrocarbon sector by 1.4% and the non-hydrocarbon sector by 1.1%, affirming the private sector’s essential role in supporting economic development.In this context, Sheikh Khalifa emphasised that the chamber is sparing no effort in stimulating the business sectors and addressing any obstacles that may hinder their expansion and development. He pointed to HH the Amir's consistent commitment to enhancing the partnership between the public and private sectors and fostering the private sector’s role in the national economy.He said HH the Amir’s speech addressed enhancing local production and opportunities available to the private sector, indicating that following the implementation of the in-county value programme (ICV) in government procurement in August 2022, a directive was issued to target a growth rate of no less than 10% annually of the in-country value.This includes developing plans to localise various economic sectors and establishing mechanisms, such as mandatory procurement lists and long-term contracts, while also considering the quality of the local products and their competitiveness against imported products. The state has acted to support the private sector through Qatar Development Bank (QDB) and partnerships in private agricultural projects.Sheikh Khalifa also praised the emphasis in HH the Amir’s speech on national unity and equal citizenship in terms of rights and duties, which requires the preparation of constitutional and legislative amendments, including a return to the system for appointing members of the Shura Council.He also underscored that these amendments aim to serve the supreme interests of the state and promote the values of justice and equality in rights and duties among members of society. He affirmed that these constitutional amendments will be put to a popular referendum, which reflects His Highness's confidence in his loyal people.

Ten Palestinians were martyred and several others were injured early Tuesday after the Israeli occupation warplanes attacked various areas in the Gaza Strip.Local and medical sources said that seven Palestinians, including children, were martyred and others were injured in an Israeli airstrike that targeted a house in the town of Al-Fukhari, east of Khan Younis in the southern Gaza Strip, Palestinian news agency (WAFA) reported.Three more Palestinians were martyred and others were injured after the occupation forces shelled another house near Salah al-Din Mosque in the Zeitoun neighborhood, southeast of Gaza City, the sources added. (

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

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

Dukhan Bank announced a nine-month net profit of QR1.14bn, representing a 3% growth compared to the first nine months of last year.The Group’s financial performance during the first nine months of 2024 demonstrated the execution of its strategy and strengthened platform for growth.The growth in bottom-line profitability was underpinned by a 17% increase in net income from financing activities, and a 33% rise in net income from investing activities, resulting in an overall rise in total income for the Group which grew by 16%.Growth in net income from financing activities reflected positive momentum in overall volumes coupled with better yields.Dukhan Bank Group’s efforts to cross-sell coupled with deepened client relationships, while leveraging differentiated product strengths, fostered consistent growth in both profit and non-profit income sources.Total assets stood at QR116.7bn, a highest level achieved in the bank’s history.Total assets primarily comprise financing assets of QR84.9bn (73% of total assets) and investment securities of QR17.3bn (15% of total assets).During this year, Dukhan Bank successfully expanded its financing assets, achieving an impressive 9% growth compared to the previous year, bringing the total financing book to QR84.9bn. This underscores the bank's strategic intent to increase its market share, while ensuring efficient and balanced resource allocation.Building on this strong performance, the non-performing loan (NPL) ratio improved, decreasing from 5.2% to 4.7% as of September 2024. This improvement is largely attributed to the bank's effective recovery management strategies, reflecting the high quality of its loan portfolio and robust credit risk management practices.Additionally, the Stage 3 coverage ratio reached 69%, reflecting the Group’s prudent approach towards managing non-performing loans.The balance sheet is mainly funded by customer deposits, which were QR82.3bn at end of the financial period.Dukhan Bank's liquidity remained robust, with regulatory loans-to-deposits ratio of 101.2%. Total shareholders’ equity amounted to QR12.8bn.The capital adequacy ratio (CAR) was maintained at 17.4% in accordance with Basel III requirements, adequately above the minimum supervisory ratio specified by the Qatar Central Bank.Dukhan Bank continues to push the envelope in digital banking innovation, consistently launching new services that cater to the dynamic needs of its customers. It unveiled a fresh new look to the Dukhan Mobile app, which features an intuitive interface designed to enhance user experience, a streamlined finance and card application processes, and serves as a centralised hub for all payment needs.Among Dukhan Bank’s latest advancements, it also introduced the 'Request to Pay' feature through the Fawran service on the Dukhan Mobile app. This cutting-edge functionality allows customers to send and receive payment requests instantly, revolutionising the way transactions are handled in real-time.Alongside this, the bank's digital suite remains robust with services such as the ‘Smart Kiosk’ for quick card issuance and the bank’s versatile ‘Himyan’ cards, designed for secure payments nationwide.The bank’s commitment to digital excellence is unwavering, as evidenced by its comprehensive integration of Apple Pay, Samsung Wallet, and Google Pay via D-Pay, and its leadership in digital card solutions with Mastercard's global Digital First Card programme.

Qatar Chamber and the Young Entrepreneurs Club (YEC) announced on Monday that the ‘Young Entrepreneurs Media Forum will be held on November 15-16, under the auspices of the Ministry of Sports and Youth.Qatar Chamber Acting General Manager Ali bu Sherbak al-Mansouri said the forum aims to enhance the role of young entrepreneurs in the media field, noting that it addresses the challenges facing these entrepreneurs. He highlighted that the forum would bring together a group of innovative youth, investors, and media experts.Al-Mansouri underscored the chamber’s support for empowering entrepreneurs and developing innovative ideas. He said the forum provides an important platform for entrepreneurs to gain necessary knowledge, learn about successful media experiences, and connect with their peers and experts.He said the forum will feature panel discussions showcasing the lessons learned from successful businesses and the experiences of media entrepreneurs. He expressed hope that it would support innovation, enhance cooperation among youth, and result in outcomes that foster the role of entrepreneurs in the national economy in line with Qatar National Vision 2030.YEC president Dr Ibrahim Khalid al-Sulaiti said the forum will be organised in cooperation with Qatar Chamber, Media City, the Ministry of Sports and Youth, Snoonu, Qatar Living, and Al Jazeera Training Institute, with the participation of 40 companies and media partners.Al-Sulaiti assured that the forum reflects a commitment to supporting the next generation of entrepreneurs in the media sector, emphasising the importance of highlighting Qatari entrepreneurs in this crucial field, especially since Qatari youth possess immense potential and creative power that can significantly impact the media industry.Abdullatif al-Mana of HUB Business Centre underscored the centre’s keenness to sponsor the forum, which supports entrepreneurs and contributes to economic empowerment. He noted that the HUB Business Centre offers a fully furnished and equipped workspace ready for immediate use.During the press conference, two sponsorship agreements were signed between the YEC, HUB Business Centre, and Contactless Company.

Alijarah Holding Company has reported a 15.59% year-on-year increase in net profit to QR13.69mn for the period ending September 30, 2024.Earnings-per-share rose to QR0.028 compared to QR0.024 last year. Revenues grew by 13.48% to QR50.65mn.Attributing the increase in net profitability to the robust performance of the investment portfolio and stable profits from Alijarah Driving Academy; its chief executive officer Hamad Hassan al-Jamali said the company is progressing in executing its strategy by enhancing its investment portfolio with the addition of new high-yield sukuk investments."We are working to strengthen our real estate portfolio by developing the land we own and expanding in Saudi Arabia by purchasing new lands for property development and we have also launched new logistics warehouses in Wadi Aba Saleel, contributing to increasing the return on assets and enhancing shareholder interests," he said, confirming that it would continue to seek out available investment opportunities to maximise shareholder benefits and strengthen its position in the market.

Qatar Aviation Services (QAS), the ground handling provider for Hamad International Airport, has received the ‘Enhanced Ground Support Equipment’ (GSE) recognition certification from the International Air Transport Association (IATA).QAS is the “first ground handling service in the GCC region” to achieve this esteemed recognition, further establishing its leadership in ground operations.QAS is committed to integrating advanced GSE technologies to enhance safety and operational efficiency in its daily ground operations.With the investment in capabilities like anti-collision systems and inching technology, QAS has improved vehicle control, enhanced docking precision, and minimised ground damage.Murat Nursel, senior vice-president, QAS, said: “Enhanced GSE plays a pivotal role in reducing the risk of accidents on the tarmac, ensuring safer ground operations for both personnel and aircraft. Our investment in these technologies reflects our dedication to delivering world-class service at the world’s best airport, while prioritising safety and sustainability.”IATA estimates that transitioning 75% of the global fleet – including belt-loaders, cargo loaders, passenger stairs, and Passenger Boarding Bridges (PBB) – to Enhanced GSE could reduce expected ground damage costs by 42%.To receive this recognition, QAS exceeded a stringent ratio of Enhanced to non-Enhanced GSE, highlighting its dedication to continuous innovation and improvement in ground operations.The IATA certification is valid for two years and solidifies QAS’ role as the clear choice for those who seek excellence in ground handling.HIA, consistently ranked among the world’s best airports for operational excellence and passenger experience, continues to set benchmarks for the global aviation industry. Through QAS, the airport remains committed to advancing safety, sustainability, and seamless operations – ensuring that every traveller enjoys a memorable journey.QAS has been the exclusive ground handling service provider in Qatar for the past 25 years. The company has won multiple awards for the solutions it provides for its 48+ customers airlines including cargo, executive and general aviation.

The Qatar Stock Exchange yesterday welcomed a delegation from Taiwan Stock Exchange wherein discussions paved the way for enhanced collaboration and innovation in financial market relations between both the countries.

Dukhan Bank announced a nine-month net profit of QR1.14bn, representing a 3% growth compared to the first nine months of last year.The Group’s financial performance during the first nine months of 2024 demonstrated the execution of its strategy and strengthened platform for growth.The growth in bottom-line profitability was underpinned by a 17% increase in net income from financing activities, and a 33% rise in net income from investing activities, resulting in an overall rise in total income for the Group which grew by 16%.Growth in net income from financing activities reflected positive momentum in overall volumes coupled with better yields.Dukhan Bank Group’s efforts to cross-sell coupled with deepened client relationships, while leveraging differentiated product strengths, fostered consistent growth in both profit and non-profit income sources.Total assets stood at QR116.7bn, a highest level achieved in the bank’s history.Total assets primarily comprise financing assets of QR84.9bn (73% of total assets) and investment securities of QR17.3bn (15% of total assets).During this year, Dukhan Bank successfully expanded its financing assets, achieving an impressive 9% growth compared to the previous year, bringing the total financing book to QR84.9bn. This underscores the bank's strategic intent to increase its market share, while ensuring efficient and balanced resource allocation.Building on this strong performance, the non-performing loan (NPL) ratio improved, decreasing from 5.2% to 4.7% as of September 2024. This improvement is largely attributed to the bank's effective recovery management strategies, reflecting the high quality of its loan portfolio and robust credit risk management practices.Additionally, the Stage 3 coverage ratio reached 69%, reflecting the Group’s prudent approach towards managing non-performing loans.The balance sheet is mainly funded by customer deposits, which were QR82.3bn at end of the financial period.Dukhan Bank's liquidity remained robust, with regulatory loans-to-deposits ratio of 101.2%. Total shareholders’ equity amounted to QR12.8bn.The capital adequacy ratio (CAR) was maintained at 17.4% in accordance with Basel III requirements, adequately above the minimum supervisory ratio specified by the Qatar Central Bank.Dukhan Bank continues to push the envelope in digital banking innovation, consistently launching new services that cater to the dynamic needs of its customers. It unveiled a fresh new look to the Dukhan Mobile app, which features an intuitive interface designed to enhance user experience, a streamlined finance and card application processes, and serves as a centralised hub for all payment needs.Among Dukhan Bank’s latest advancements, it also introduced the 'Request to Pay' feature through the Fawran service on the Dukhan Mobile app. This cutting-edge functionality allows customers to send and receive payment requests instantly, revolutionising the way transactions are handled in real-time.Alongside this, the bank's digital suite remains robust with services such as the ‘Smart Kiosk’ for quick card issuance and the bank’s versatile ‘Himyan’ cards, designed for secure payments nationwide.The bank’s commitment to digital excellence is unwavering, as evidenced by its comprehensive integration of Apple Pay, Samsung Wallet, and Google Pay via D-Pay, and its leadership in digital card solutions with Mastercard's global Digital First Card programme.

QNB has announced its certification of Noqoody Payment Services’ cutting-edge point-of-sale (PoS) solutions.This strategic partnership underscores QNB’s commitment to advancing digital innovation and enhancing the payment ecosystem in Qatar.Noqoody’s advanced PoS technology, now certified by QNB, represents a major advancement in transaction solutions, designed to meet the evolving needs of businesses across the region. As a prominent payment aggregator, Noqoody is set to transform the payment experience with state-of-the-art PoS solutions that offer seamless integration and enhanced functionality.Adel Ali al-Malki, senior executive vice-president, QNB Group Retail Banking, expressed enthusiasm about the partnership and said, “We are proud to empower Noqoody Payment Services with this certification for their innovative PoS solutions. This milestone reflects our dedication to fostering a vibrant fintech ecosystem in Qatar. We extend our heartfelt wishes to Noqoody for continued success and look forward to their contributions to our shared vision of a digitally advanced financial landscape.”The collaboration aligns with Qatar’s broader fintech vision, aimed at positioning the nation as a leading hub for digital financial solutions. By certifying Noqoody’s PoS technology, the bank is actively promoting the adoption of cutting-edge payment solutions, ensuring that businesses in Qatar benefit from top-tier innovations.Nayef Rashvan, CEO, Noqoody Payment Services, said, “Partnering with QNB is a significant achievement for Noqoody. We are eager to introduce our advanced PoS solutions to the Qatari market and enhance the payment experience for businesses throughout the region and contributing to the realisation of Qatar's Vision 2030 ahead of schedule.QNB’s endorsement of Noqoody’s POS technology highlights its ongoing strategy to support fintech innovation and foster an environment where digital financial technologies can thrive. This partnership not only solidifies QNB’s leadership in the financial sector but also encourages other institutions to embrace innovative solutions that drive progress and efficiency.QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, the Group extends to some 28 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 31,000 operating across 900 locations, with an ATM network of 5,000 machines.

More than 300 global leaders from the energy sector will gather at the prestigious ‘Abdullah Bin Hamad Al-Attiyah International Energy Awards for Lifetime Achievement’ on October 22 at the Sheraton Grand Hotel Resort and Convention Centre.This exclusive gala dinner will celebrate six distinguished individuals who have made outstanding contributions to the energy industry in various fields.The sponsors of the 2024 Award are ExxonMobil, North Oil Company Qatar and TotalEnergies.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.Previous recipients of these coveted awards include some of the most influential names in the industry, such as James Mulva, former Chairman and CEO of ConocoPhillips; Rex Tillerson, former US Secretary of State; Sir Mark Moody-Stuart, former Chairman of Shell and Chairman of the UN Global Compact Foundation; and Professor Michael Gratzel, Director of the Laboratory of Photonics and Interfaces at Ecole Polytechnique Federale de Lausanne.Their legacies serve as an inspiration to those continuing to shape the future of global energy.Since its inception in 2015, the Al-Attiyah Foundation has been a leading voice in the energy and sustainability space, providing expert analysis and insights into pressing global, regional, and national challenges. Through its industry-leading research papers, current affairs articles, daily news briefings, and engaging podcast interviews with thought leaders, the Foundation plays a pivotal role in shaping energy discourse.In addition to its publications, the foundation hosts quarterly ‘CEO Roundtables’ and an interactive ‘Webinar Series’, where global experts share their perspectives with members and partners.Its Sustainable Development Directorate also produces an annual publication that delves into critical topics, reinforcing the Foundation’s commitment to exploring the intersection of energy and sustainable development.The Foundation’s continued growth is thanks to its prestigious member organisations, which include some of the world’s most influential companies, including QatarEnergy, Woqod, QatarEnergy LNG, Shell, QNB, QEWC, QChem, Qapco, Dolphin Energy, Qafco, ConocoPhillips, Qatar Cool, Gulf Helicopters, Marubeni, Sasol and JTA Holdings.

Masraf Al Rayan posted a net profit of QR1,288mn during the third quarter (Q3) that ended in September, up 4.1% on the same period last year.Total income net of finance expense reached QR6.50bn in the third quarter compared to QR5.46bn for Q3 2023, Masraf Al Rayan said on Monday.Net financing assets closed at QR110bn and deposits at QR108.6bn.Cost to income (efficiency) ratio stood at 26.4%, while capital adequacy ratio stood at 23.3%, Masraf Al Rayan noted.HE Sheikh Mohammed bin Hamad bin Qassim al-Thani, Chairman of the Board stated, “We continue to deliver a solid performance across our operations in Qatar and overseas. Our total income (net of finance expenses) rose by 19% compared to the same period last year.“During the elapsed period of the current year, we have finalised and commenced our new medium-term strategy that aims to improve our banking services and maximise our shareholders’ value.”Commenting on Q3 financial performance, Fahad bin Abdulla al-Khalifa, Group Chief Executive Officer, said, “We are pleased to announce Q3, 2024 net profit of QR1,288mn, which is up by 4.1% compared to the same period last year.“Our overall key financial indicators remain strong; the bank’s financing portfolio stood at QR110bn, total assets at QR166bn and capital adequacy robust at 23.3%. Our primary focus is on delivering an increased value to our shareholders, while preserving prudent risk management.”

The International Monetary Fund urged Turkiye to accelerate its fight against inflation, highlighting an upcoming wage hike as a potential turning point.“The authorities’ gradual approach to fighting inflation prolongs the period during which risks might occur”, the fund said in a statement on Friday after a routine visit to member states known as an Article IV consultation.It recommended “larger and more frontloaded” steps to cut the budget deficit and “urged authorities to press ahead with co-ordinated fiscal, monetary, and incomes policies.” In particular, it said indexing wages to inflation expectations rather than past inflation could “significantly help” to curb prices.Walls Street banks are closely watching for signs of how much the government will increase the minimum wage by in 2025, with Deutsche Bank citing a consensus expectation of 25%-30% after a recent visit.Turkiye hiked the minimum wage twice in 2023 in a bid to help workers facing a spiralling cost-of-living crisis in an election year. In 2024 the government only raised it once despite calls from labour confederations and opposition parties.Turkiye has gradually increased policy rates to 50% from 8.50%. Despite the tightening, the latest data showed inflation falling slower than expected in September to 49.4%, due to persistent price expectations and services costs.

Iraq said it pumped below its Opec+ oil-production quota last month as it sought to comply better with the group’s effort to balance global crude markets.The Middle East heavyweight cut production by 260,000 barrels a day to 3.94mn a day in September, Mohammed al-Najjar, head of the market research division at Iraqi state oil company SOMO, said in an interview. That’s 60,000 less than its quota. The Kurdish region reduced by 140,000 barrels a day, while 120,000 barrels were curbed in the south of Iraq, he said.Opec+’s leadership have pressed members like Iraq, Kazakhstan and Russia to fully implement output cuts pledged at the start of the year, and make additional reductions in compensation for over-producing.While oil prices have surged this month on fears over escalating conflict in the Middle East, futures remain 10% below their July highs as slowing demand growth and swelling American supplies threaten to create a glut. Brent settled near $79 a barrel on Friday, too low for some in the Organisation of Petroleum Exporting Countries to cover government spending.Al-Najjar said that output at state-operated fields in Basra including Majnoon was reduced by a combined 100,000 barrels a day from August 27, in addition to a cutback of 20,000 a day at the Nasiriyah field.Last week, the semi-autonomous Kurdistan Regional Government’s Acting Minister of Natural Resources, Mohammad Salih, said the territory cut output by 50% to 140,000 barrels a day at the start of September.SOMO’s figures for September are lower than estimates compiled by Bloomberg, which include data from Rystad Energy and Kpler Ltd, and put Iraqi output for the month at 4.25mn barrels a day.Opec’s Vienna-based secretariat will publish its own estimate next week, compiled from seven external — or “secondary” — sources. These include figures from S&P Global, which assessed Iraq at 4.2mn barrels a day last month. Opec+ uses an average of the seven sources to measure compliance.Iraq’s overdue cutbacks are part of a series that the 23-nation Opec+ coalition — led by Saudi Arabia and Russia — has been making since late 2022 in an effort to stave off a surplus and shore up crude prices. The group is now seeking to gradually restore roughly 2.2mn barrels a day of halted output, but has been forced to delay the restart because market sentiment remains fragile.Opec+ intends to begin the first monthly hike in December, and has several more weeks to weigh up its plans. RBC Capital LLC has said Saudi Arabia could speed up its scheduled output revival if fellow members don’t implement their pledged cutbacks.

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