The QSE Index gained 0.1% to close at 12,409.1, led by gains in the real estate and consumer goods indices. Top gainers were Doha Insurance Co. and Barwa Real Estate Co., while Qatar Cinema & Film Distribution Co. fell 9.9%. Regional indices were mixed with Saudi Arabia up 0.8% and Abu Dhabi down 0.2%. News included Kuwait's UFIG planning to establish a new company in Qatar, a Qatar-Singapore business forum to promote trade, and Qatar-UAE bilateral trade reaching $33.5 billion in 2014.
QNBFS Daily Market Report October 19, 2021QNB Group
The QE Index declined 0.1% to close at 11,743.4. Losses were led by the Industrials and Banks & Financial Services indices, falling 0.5% and 0.1%, respectively.
QNBFS Daily Market Report October 20, 2021QNB Group
The QE Index rose 0.2% to close at 11,767.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.4% each.
QNBFS Daily Market Report October 19, 2021QNB Group
The QE Index declined 0.1% to close at 11,743.4. Losses were led by the Industrials and Banks & Financial Services indices, falling 0.5% and 0.1%, respectively.
QNBFS Daily Market Report October 20, 2021QNB Group
The QE Index rose 0.2% to close at 11,767.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.4% each.
QNBFS Daily Market Report August 12, 2021QNB Group
The QE Index rose marginally to close at 10,916.1. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 0.8% and 0.5%, respectively.
QNBFS Daily Market Report October 25, 2021QNB Group
The QE Index declined 0.4% to close at 11,820.7. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.3% and 0.4%, respectively.
QNBFS Daily Market Report August 12, 2021QNB Group
The QE Index rose marginally to close at 10,916.1. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 0.8% and 0.5%, respectively.
QNBFS Daily Market Report October 25, 2021QNB Group
The QE Index declined 0.4% to close at 11,820.7. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.3% and 0.4%, respectively.
We investigated the effects of fish protein hydrolysate (FPH) on zootechnical performance and immune response of the Asian Seabass Lates calcarifer Bloch. Experimental fish were fed with 3 diets: a local commercial diet (control), coated or not, with 2 and 3% FPH (w/w). Twelve thousand Asian Seabass juveniles (5.88±0.56 g) were divided into three groups and two replicates reared in nursery tanks (2000 L). The remaining fish were then used for grow-out experiment in floating net cages (1m x 1 m x 3 m). Zootechnical performances were assessed at both stages with following indicators: total weight gain (TWG), % relative weight gain (% RWG), % specific growth rate (% SGR), final weight (g) and final length (cm). At the end of each trial period, fish immune status was assessed through blood sampling and the measurement of Neutrophile (%), Monocyte (%), Lymphocyte (%), Macrophage (105 cell/mL), Leukocyte (103 cell/mL) and Phagocytes activity (%). At the end of the nursery trial, an immersion bacterial challenge with Vibrio parahaemolyticus (105 cells mL-1) was implemented. The results showed that dietary FPH supplementation significantly influenced the growth and immune status of Asian Seabass when compared to the control group. Fish fed FPH supplemented diet yielded higher growth rates and survival rates than non supplemented group. Fish phagocytic activity and resistance to a bacterial challenge were also improved by dietary FPH supplementation. These results may be related to the significant changes observed in fish leukocyte profiles, when fed FPH supplemented diets. Altogether, these results show the positive contribution of FPH to the sustainability of Asian seabass farming.
History
- Name derived from Gopher
- Created by Google Engineers
- A language for the multi core processor
- Search for Faster, Compiled and ease of Programming
Sexual Harassment & Gender Discrimination by Janice Anne LeolegalPadmin
Speech by Janice Anne Leo, Partner from Shook Lin & Bok, given in Labour Law Seminar held by Legal Plus Sdn. Bhd (www.legalplus.com.my) on Apr 10, 2015
The QE Index declined 0.7% to close at 10,839.9. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.1% and 0.5%, respectively.
The QE Index rose marginally to close at 13,770.1. Gains were led by the Banks & Financial Services and Telecoms indices, gaining 0.6% and 0.5%, respectively.
QNBFS Daily Market Report December 24, 2023QNB Group
The QE Index rose 0.8% to close at 10,285.3. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.4% and 1.2%, respectively.
QNBFS Daily Market Report October 04, 2023QNB Group
The QE Index rose 0.2% to close at 10,273.3. Gains were led by the Transportation and Consumer Goods & Services indices, gaining 1.7% and 0.1%, respectively.
QNBFS Daily Technical Trader Qatar - October 04, 2023 التحليل الفني اليومي لب...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 28, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 24, 2023QNB Group
The QE Index rose 0.3% to close at 10,323.0. Gains were led by the Transportation and Industrials indices, gaining 0.8% each. Top gainers were Qatar Navigation and Al Khaleej Takaful Insurance Co., rising 3.3% and 2.0%, respectively.
QNBFS Daily Technical Trader Qatar - September 24, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 19, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 17, 2023QNB Group
The QE Index declined 0.5% to close at 10,319.3. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.4% and 1.1%, respectively.
QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to
sustain its breakout above the
double-bottom formation’s
neckline and continued with
its decline into the
formation’s territory.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.
26 May Daily market report
1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index gained 0.1% to close at 12,409.1. Gains were led by the Real
Estate and Consumer Goods & Services indices, rising 1.6% and 0.4%,
respectively. Top gainers were Doha Insurance Co. and Barwa Real Estate Co.,
rising 2.8% and 2.2%, respectively. Among the top losers, Qatar Cinema & Film
Distribution Co. fell 9.9%, while Aamal Co. was down 2.2%.
GCC Commentary
Saudi Arabia: The TASI Index rose 0.8% to close at 9,801.4. Gains were led
by the Industrial Invest. and Real Estate Dev. indices, rising 3.6% and 2.1%,
respectively. Saudi Arabian Mining rose 6.5%, while Amana Ins. was up 5.4%.
Dubai: The DFM Index declined 0.2% to close at 4,059.5. The Services index
fell 1.7%, while the Telecommunication index declined 0.6%. Mashreq Bank
fell 4.1%, while Gulf Navigation was down 2.8%.
Abu Dhabi: The ADX benchmark index fell 0.2% to close at 4,615.1. The
Energy index declined 1.5%, while the Real Estate index fell 1.3%. National
Marine Dredging Co. declined 3.6%, while Bank of Sharjah was down 3.0%.
Kuwait: The KSE Index rose 0.1% to close at 6,309.6. The
Telecommunication index gained 1.4%, while the Basic Material index rose
0.7%. Al-Qurain Holding surged 20.8%, while Coast Inv. & Dev. was up 9.6%.
Oman: The MSM Index rose 0.2% to close at 6,390.3. Gains were led by the
Industrial and Services indices, rising 0.2% each. Oman Fisheries rose 1.9%,
while United Finance was up 1.5%.
Bahrain: The BHB Index gained 0.2% to close at 1,366.9. The Commercial
Bank index rose 0.4%, while the Services index gained 0.2%. Nass
Corporation rose 2.4%, while Bahrain Duty Free Complex was up 1.8%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Doha Insurance Co. 27.20 2.8 41.7 (6.2)
Barwa Real Estate Co. 51.50 2.2 1,355.4 22.9
Ezdan Holding Group 21.00 1.4 5,522.1 40.8
Medicare Group 172.00 1.2 22.1 47.0
United Development Co. 23.30 1.1 192.1 (1.2)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 21.00 1.4 5,522.1 40.8
Barwa Real Estate Co. 51.50 2.2 1,355.4 22.9
Masraf Al Rayan 45.10 (1.1) 876.2 2.0
National Leasing 22.20 0.2 780.3 11.0
Qatar German Co for Medical Dev. 18.60 (2.1) 673.8 83.3
Market Indicators 26 May 15 25 May 15 %Chg.
Value Traded (QR mn) 535.5 483.1 10.8
Exch. Market Cap. (QR mn) 658,778.1 658,521.6 0.0
Volume (mn) 13.9 13.8 0.4
Number of Transactions 6,190 5,456 13.5
Companies Traded 43 41 4.9
Market Breadth 17:21 12:24 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 19,284.43 0.1 (0.3) 5.2 N/A
All Share Index 3,305.91 0.1 (0.3) 4.9 13.9
Banks 3,231.48 0.1 0.1 0.9 14.6
Industrials 3,905.46 (0.6) (1.8) (3.3) 13.8
Transportation 2,437.55 (0.5) (1.1) 5.1 13.5
Real Estate 3,008.38 1.6 1.8 34.0 10.6
Insurance 4,758.20 0.0 (0.4) 20.2 22.0
Telecoms 1,254.08 (1.0) (2.9) (15.6) 24.8
Consumer 7,318.84 0.4 (1.0) 6.0 28.4
Al Rayan Islamic Index 4,720.10 0.1 (0.7) 15.1 14.3
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Saudi Arabian Mining Saudi Arabia 47.93 6.5 18,661.5 56.7
Nat. Real Estate Co. Kuwait 0.10 4.1 1,535.2 (22.7)
Jabal Omar Dev. Co. Saudi Arabia 79.94 3.8 2,055.5 52.3
Al Jouf Cement Saudi Arabia 18.23 2.4 9,612.2 29.8
Saudi Real Estate Co. Saudi Arabia 40.49 2.3 3,060.2 21.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Nat. Marine Dredging Abu Dhabi 5.30 (3.6) 37.0 (23.2)
Combined Group Cont. Kuwait 0.87 (3.3) 1.0 (5.4)
Bank of Sharjah Abu Dhabi 1.61 (3.0) 46.2 (13.5)
Nat. Industries Group Kuwait 0.17 (2.3) 720.5 (9.5)
Dana Gas Abu Dhabi 0.43 (2.3) 10,374.3 (14.0)
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar Cinema & Film Distrib. Co. 42.00 (9.9) 0.2 5.0
Aamal Co. 15.55 (2.2) 485.2 7.5
Qatar German Co for Med. Dev. 18.60 (2.1) 673.8 83.3
Industries Qatar 139.20 (1.3) 161.3 (17.1)
Ooredoo 93.10 (1.2) 61.9 (24.9)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Ezdan Holding Group 21.00 1.4 115,742.0 40.8
Barwa Real Estate Co. 51.50 2.2 69,230.2 22.9
QNB Group 197.00 0.5 46,655.7 (7.5)
Masraf Al Rayan 45.10 (1.1) 39,850.0 2.0
Gulf International Services 78.10 0.3 30,773.5 (19.6)
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 12,409.13 0.1 (0.3) 2.0 1.0 147.12 181,032.2 13.1 2.0 4.1
Dubai 4,059.52 (0.2) (1.4) (4.0) 7.6 104.09 99,157.2 9.4 1.5 5.3
Abu Dhabi 4,615.09 (0.2) (0.8) (0.7) 1.9 41.70 124,985.3 11.7 1.5 4.9
Saudi Arabia 9,801.40 0.8 0.3 (0.3) 17.6 2,148.65 575,094.1 20.6 2.3 2.7
Kuwait 6,309.64 0.1 (0.4) (1.1) (3.5) 56.88 95,258.3 16.2 1.1 4.3
Oman 6,390.32 0.2 0.1 1.1 0.7 7.42 24,389.3 9.2 1.4 4.1
Bahrain 1,366.94 0.2 (0.9) (1.7) (4.2) 6.74 21,377.5 8.8 1.0 5.1
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
12,380
12,400
12,420
12,440
12,460
12,480
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
2. Page 2 of 6
Qatar Market Commentary
The QSE Index gained 0.1% to close at 12,409.1. The Real
Estate and Consumer Goods & Services indices led the gains.
The index rose on the back of buying support from non-Qatari
shareholders despite selling pressure from Qatari and GCC
shareholders.
Doha Insurance Co. and Barwa Real Estate Co. were the top
gainers, rising 2.8% and 2.2%, respectively. Among the top
losers, Qatar Cinema & Film Distribution Co. fell 9.9%, while
Aamal Co. was down 2.2%.
Volume of shares traded on Tuesday rose by 0.4% to 13.9mn
from 13.8mn on Monday. However, as compared to the 30-day
moving average of 12.6mn, volume for the day was 10.1%
higher. Ezdan Holding Group and Barwa Real Estate Co. were
the most active stocks, contributing 39.9% and 9.8% to the total
volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Ratings, Earnings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Al-Ain Ahlia Insurance Co. Moody's Abu Dhabi IFSR A3 A3 – Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Currency Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC
– Local Currency, IFSR – Insurance Financial Strength Rating)
Earnings Releases
Company Market Currency
Revenue
(mn) 1Q2015
% Change
YoY
Operating Profit
(mn) 1Q2015
% Change
YoY
Net Profit (mn)
1Q2015
% Change
YoY
Etihad Atheeb
Telecommunications Co.*
Saudi Arabia SR – – -292.6 NA -56.2 NA
The National Investor (TNI)* Abu Dhabi AED – – – – 23.0 -71.4%
United Paper Industries
(UPI)*
Bahrain BHD – – – – 0.9 64.0%
Source: Company data, DFM, ADX, MSM (* FY2014-15)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
05/26 US FHFA FHFA House Price Index MoM March 0.30% 0.70% 0.60%
05/26 US FHFA House Price Purchase Index QoQ 1Q2015 1.30% 1.10% 1.40%
05/26 US S&P/Case-Shiller S&P/CS 20 City MoM SA March 0.95% 0.90% 1.21%
05/26 US S&P/Case-Shiller S&P/CS Composite-20 YoY March 5.04% 4.60% 4.99%
05/26 US S&P/Case-Shiller S&P/Case-Shiller US HPI MoM March 0.12% 0.50% 0.35%
05/26 US S&P/Case-Shiller S&P/Case-Shiller US HPI YoY March 4.14% – 4.16%
05/26 US S&P/Case-Shiller S&P/Case-Shiller US HPI NSA March 168.0 – 166.7
05/26 US Markit Markit US Composite PMI May 56.1 – 57
05/26 US Markit Markit US Services PMI May 56.4 56.5 57.4
05/26 Spain Ministerio de Hacienda Spain Budget Balance YtD April -11.98B – -9.85B
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 50.07% 66.49% (87,879,030.53)
GCC 3.76% 9.12% (28,702,487.51)
Non-Qatari 46.17% 24.40% 116,581,518.04
3. Page 3 of 6
News
Qatar
Kuwait’s UFIG planning to set up new company in Qatar –
The financial portal Mubasher reported that Kuwaiti listed firm
United Foodstuff Industries Group (UFIG) is working toward
establishing a new company in Qatar. UFIG will control 50%
stake in the new company. (Peninsula Qatar)
DHBK hosts forum to promote Qatar-Singapore trade ties –
Doha Bank (DHBK), in collaboration with the Singapore
Business Federation (SBF) and International Enterprise
Singapore (IES), hosted a business forum in Doha to promote
trade and investment relations between Qatar & Singapore and
encourage stronger bilateral cooperation across the key
economic sectors. Qatari and Singaporean companies from
several different industries – including oil & gas, real estate,
building materials, education and finance – participated in the
business forum. (Gulf-Times.com)
Qatar-UAE trade reaches QR33.5bn in 2014 – The Minister of
Economy & Commerce, HE Sheikh Ahmed bin Jassim bin
Mohamed Al Thani revealed that the trade volume between
Qatar and the UAE jumped 23.2% to QR33.5bn in 2014, making
UAE the fifth largest trading partner of Qatar. Speaking at the
Qatar-UAE Economic Forum in Doha, he said that the number
of UAE companies operating in Qatar has also increased at a
rapid pace. The minister, while highlighting various projects that
are to be executed in the coming years, stated that the time is
ripe for many more UAE companies to enter the Qatari market.
The UAE Economy Minister Sultan bin Saeed Al Mansoori, who
led the UAE delegation at the forum, pointed out that
international events like 2020 Expo in Dubai and 2022 FIFA
World Cup in Qatar will open hundreds of investment
opportunities in the two countries. (Qatar Tribune)
Qatar to favor countries granting flight slots to QA – Qatar
Airways (QA) CEO Akbar al-Baker said that Qatar is likely to
favor countries whose airports grant take-off and landing slots to
QA, in handing out lucrative public procurement contracts. Al
Baker said that QA plans to make important announcements at
the June 15-21 Paris Airshow. Meanwhile, QA will launch new
services to Amsterdam from June 16, 2015. The route will
operate six times a week with a Boeing 787 Dreamliner.
(Reuters, Peninsula Qatar)
International
US services sector growth slows, consumer confidence
gains in May; home sales, business spending rise in April –
According to preliminary figures released by the financial firm
Markit, US services sector PMI slipped to 56.4 in May from a
final reading of 57.4 in April. The data indicated that the services
sector expansion slowed for the third straight month in May,
weakening alongside new business activity. The composite PMI,
a weighted average of manufacturing and services indexes,
dropped to 56.1 from 57 in April. Further, the US Commerce
Department said that new single-family home sales increased
6.8% in April to a seasonally adjusted annual rate of 517,000
units, suggesting the housing market recovery was gaining
traction. March's sales pace was revised up to 484,000 units
from the previously reported 481,000 units. Another report from
the Commerce Department showed that non-defense capital
goods orders excluding aircraft, a closely watched proxy for
business spending plans, rose 1.0% in April after an upwardly
revised 1.5% increase in March. In a separate report, the
Conference Board said its index of consumer attitudes rose to
95.4 in May from 94.3 in April. The rebound in business
spending, together with a sturdy labor market, a strengthening
housing market and firming underlying inflation, should keep the
Federal Reserve on course to raise interest rates later this year.
(Reuters)
Brazil signs investment cooperation agreement with Mexico
– Brazil and Mexico have signed an investment cooperation
accord and pledged to work together to boost growth and
expand the middle class in Latin America’s two biggest
economies. The agreements aim to facilitate investment,
increase air travel and cooperate on tourism. Brazil’s President
Dilma Rousseff said that while the two nations have
strengthened ties in recent years, Brazil can do more to invest in
Mexico. Mexican investment in Brazil is currently about $23bn a
year, while Brazil invests just $2bn annually in Mexico.
(Bloomberg)
South African economic growth slows in 1Q2015 – South
Africa’s economy grew at a slower pace in 1Q2015 as power
outages curbed factory output and a drought cut harvests,
undermining job creation. GDP rose an annualized 1.3% from
4Q2014, when it expanded by 4.1%. Manufacturing, which
contributes around 13% to the economy, fell at an annualized
2.4% in 1Q2015, while agricultural output contracted 16.6%
because of drought. However, expansion in mining output and
financial services helped to offset the slump in manufacturing
and farming, increasing at an annualized 10.2% and 3.8%
respectively. The unemployment rate climbed to 26.4%, the
highest level in 11 years. (Bloomberg)
Regional
SASCO signs credit facility agreement worth SR150mn with
SABB – Saudi Automotive Services Company (SASCO) has
signed a Shari’ah-compliant bank facility agreement worth
SR150mn with the Saudi British Bank (SABB). The loan duration
starts from May 25, 2015 and lasts until January 31, 2016. The
facility agreement entails a long-term loan worth SR100mn, in
addition to banking guarantees worth SR50mn, while the
collateral of this facility are promissory notes. SASCO will use
the bank facility agreement to partially finance the capital
expenditure, as well as carry out its expansion plan of buying
new lands and constructing new stations. (Tadawul)
Almarai board approves capital investment of SR21bn –
Almarai Company’s board has approved its strategic five year
plan for the 2016-20 period, which includes a capital investment
of SR21bn. The board has set objectives to increase its
presence and investments in all the segments and geographies
where it operates; and also to double the consolidated sales
while improving the company’s financial performance. In
addition to Almarai’s financing capabilities, either through the
traditional bank facilities – SIDF and ADF funds, or via the
Sukuk program that is currently in place, the growing ‘operating
cash flow’ will be dedicated to finance these investments.
(Tadawul)
RCJY signs contracts worth SR120.26mn – The Royal
Commission for Jubail and Yanbu (RCJY) has signed contracts
worth SR120.26mn with both the national and international
companies. The new deals are related to the development and
expansion works in Jubail and Ras Al-Khair industrial cities. The
first contract with V3 Middle East Engineering Consultants Co.
and Childs Bertman Tseckares (CBT) involves the preparation
of economic and technical studies, as well as a general plan for
environment protection in the two industrial cities. The second
contract with Construction & Roads Services Est. is for General
Contracting. (GulfBase.com)
Cayan Group signs investment deal with MEFIC Capital –
Saudi-based property developer Cayan Group has signed an
4. Page 4 of 6
investment-fund deal with Saudi Arabia-based MEFIC Capital
for the construction of a commercial property in Riyadh. The
fund will be utilized for a project to be built on King Fahd Road
and will comprise quality office space. The construction work is
expected to begin in 3Q2015 and is expected to complete during
3Q2017. (GulfBase.com)
Mobily signs SR180mn contract with Accenture – Etihad
Etisalat Company (Mobily) has signed a three-year contract
worth SR180mn with Accenture to help speed up delivery, and
enhance customer experience for its Mobily subscribers in Saudi
Arabia. Under the terms of the agreement, Accenture will
provide application development services to Mobily,
encompassing end-to-end software development, delivery and
implementation across Mobiliy’s business support systems
(BSS) platforms and technologies, with a focus on time-to-
market and cost reductions. (GulfBase.com)
NWC plans to implement 62 projects worth SR9bn – National
Water Company (NWC) is planning to start awarding projects to
develop infrastructure of Jeddah and implement a number of
drainage networks. Further, NWC will create water treatment
projects and implement a strategy for water tanks, including
stations at 62 projects, at an estimated cost of SR9bn. The
company said that there are 50 projects worth SR8bn, which are
under construction, while another 12 projects worth SR1.2bn will
be awarded in 2015. (GulfBase.com)
Saudi CMA to raise proportion of shares allocated to
institutional investors – The Saudi Capital Market Authority
(CMA) would raise the proportion of shares allocated to
institutional investors in initial public offers (IPO) with an aim to
reduce market volatility. The Saudi Stock Exchange (Tadawul),
which is set to open to qualified financial institutions on June 15,
2015, is dominated by retail investors in terms of daily trading
volumes. CMA, which did not reveal the nature of the new
allocation levels, has said that 90% of institutional shares would
go to institutions that catered to retail investors, so that retail
investors could indirectly own the equity. (Reuters)
APC board recommends SR123mn dividend for 2Q2015 –
Advanced Petrochemical Company’s (APC) board of directors
has recommended the distribution of 7.5% dividend (SR0.75 per
share), amounting to SR123mn for 2Q2015. Meanwhile,
shareholders, who are registered in the registers of the
Securities Depository Center (Tadawul) on June 30, 2015, will
be eligible to receive the dividend. The dividend will be
distributed on July 9, 2015. (Tadawul)
Egypt-based MNHD board approves joint mall project with
Al Hokair – Egypt-based Medinet Nasr for Housing and
Development’s (MNHD) board has approved an offer to build a
mall at MNHD's Teegan development from a unit of Saudi
Arabian retailer Fawaz Abdulaziz Al Hokair & Company (Al
Hokair). Under the proposed usufruct deal, Al Hokair will own
and operate the mall for 50 years before transferring it to MNHD,
who will receive a share of the mall's revenues in the meantime.
MNHD said the new mall would have a gross leasable area of
68,500 square meters, and would take three years for
construction. (Reuters)
Jarir Marketing opens new showroom in Riyadh – Jarir
Bookstore, a retail chain operated by Jarir Marketing Company,
has opened a new showroom in Riyadh taking the number of its
local branches to 33. The new showroom consists of two floors
with 4,000 square meter spaces. Jarir Bookstore has invested
more than SR70mn in the new site, and some other new
showrooms measuring 10,000 square meters have been
established for rental. The financial impact for this new mall
opening will start from 2Q2015. (Tadawul)
EGA to spend $5bn to boost capacity – Emirates Global
Aluminium (EGA) is spending $5.2bn to boost capacity at its
smelter in Dubai, and build an alumina refinery in Abu Dhabi.
The company is adding about 40,000 tons per annum to the
1mn tons per annum smelter at Dubal, which is expected to
commence operations in 2017, and is building a 2.2mn tons per
annum alumina refinery in Al Taweelah in Abu Dhabi, which is
slated to be online in 1Q2018. EGA was formed in 2014 with the
merger of Abu Dhabi’s Emirates Aluminium (Emal) and Dubai
Aluminium (Dubal). (GulfBase.com)
Amlak assures investors as it prepares for return to Dubai
bourse – Amlak Finance has assured investors of its financial
viability. Amlak will start trading again on the Dubai Financial
Market on June 2, 2015. The company is confident that it will
continue to generate annual profits and intends to put itself back
into a leadership position, as a premier and specialized property
financing provider in the UAE. Amlak had completed a
restructuring of debt worth $2.7bn in August 2014, paving the
way for its shares to resume trading. (DFM)
Marka expects to turn profitable in 2016 – Marka’s Managing
Director, Khaled Almheri said that the company is expected to
turn profitable in 2016. Earlier in January 2015, Marka had
announced profit expectations for 4Q2015. Moreover, the
company has been boosting its revenue with new acquisitions,
and also acquired a 65% stake in Icons, a football memorabilia
company, for AED15.3mn. (Reuters)
ENR: UAE money supply growth slows further in April –
According to the Emirates NBD Research (ENR), money supply
(M2) growth declined 0.8% MoM in April, with the annual growth
rate slowing to 4.1% from 4.9% in March, the slowest growth
rate in more than two years. The slower liquidity growth in April
2015 was a result of quasi-money which has been the case for
several months. M1 (cash and demand deposits) growth
remained relatively robust, rising 0.8% MoM and 8.1% YoY in
April. Meanwhile, a decline in M2 in April was partially offset by
higher government deposits, which rose 4.7% MoM and 14.6%
YoY. Total banking sector deposits had declined to AED8.1bn
(0.6% MoM) in April, with the annual growth rate slowing to
7.2% YoY from 8.8% in March. Moreover, bank lending had
increased by AED11.3bn (0.8% MoM) in April, with the annual
growth rate picking up slightly to 8.4% YoY from 8.2% in March.
Due to faster loan growth in April, the gross loan-to-deposit ratio
increased to 98.6% from 97.3% in March. (GulfBase.com)
Nakheel signs up 100 restaurants for waterfront project –
Nakheel has confirmed nearly 100 restaurants and shops at its
new AED800mn waterfront retail, dining and entertainment
complex called ‘The Pointe’ which is under construction on Palm
Jumeirah in Dubai, UAE. The project is expected to be
completed in 2016. (GulfBase.com)
UAQ Cement to begin dividend distribution – Umm Al
Qaiwain Cement Company (UAQ Cement) will begin the
distribution of dividends worth 7 fils per share starting May 27,
2015. Shareholders registered as of April 28, 2015 will be
entitled to receive the dividends. (ADX)
EIU: Private investment raising healthcare quality –
According to the Economist Intelligence Unit (EIU) report
‘Investing in quality’, released by Waha Capital, private
investment is helping drive the UAE toward its goal of
implementing international best-practices in healthcare by 2021,
but the sector needs to work harder to attract and retain skilled
staff. The report, called ‘Investing in quality’, said that the
growing private sector involvement and greater international
accreditation are helping to lift quality standards markedly. This
should persuade more people to seek healthcare services in the
5. Page 5 of 6
UAE, rather than travelling abroad, which can result in much
higher expenses for families – often a cost borne by the
government budgets. A Gallup survey in 2012 showed that two
in five Emiratis had a preference for treatment abroad. (ADX)
Gulf Capital, Carbon Holdings sign AED92mn debt
financing deal – Gulf Capital has signed a debt financing
agreement worth AED92mn with Egyptian petrochemical
company, Carbon Holdings to support their mega industrial
projects in Ain Al Sokhna on the Suez Canal in Egypt. The five-
year loan facility was extended by Gulf Capital’s credit fund, GC
Credit Opportunities Fund to finance the development and
expansion of three Carbon Holdings petrochemical projects
including Egypt Hydrocarbon Corporation, Oriental
Petrochemicals Corporation and Tahrir Petrochemicals
Corporation. (GulfBase.com)
Etisalat extends strategic partnership deal with Ericsson –
Emirates Telecommunication Corporation (Etisalat) and
Ericsson have extended a strategic partnership deal to extend
collaboration in new areas and strengthen their market position
as ICT (information and communications technology) partners in
business. Both the entities will jointly evaluate and identify
enterprise opportunities for collaboration. (GulfBase.com)
NBK: Resident credit growth picks up in March 2015 –
According to the National Bank of Kuwait (NBK), resident credit
growth picked up in March 2015, though growth eased to 5.4%
YoY on basis effects. Meanwhile, credit was up KD214mn, its
strongest gain in four months. Most of the gain was in household
debt, credit for securities purchases and real estate. Money
supply saw a strong month due to large gains in private
deposits, mainly in foreign currency. The non-bank financial
sector remained in deleveraging mode, with credit falling by
KD47mn. The decline was the largest in five months, though the
decline in sector debt over 2014 continued to slow to 7.9% YoY.
Moreover, the month of March in 2015 has witnessed a large
increase in private deposits, mostly related to bank dividend
payments during the month. Still, money supply (M2) growth
eased to 3.6% YoY on basis effects. Private deposits were up
by KD960mn, most of them in foreign currency deposits
(KD656mn) and KD time deposits (KD308mn). Further, M1
growth eased to 1.4% YoY. (GulfBase.com)
Ahli Bank’s SSB Chairman resigns – Ahli Bank’s Board has
accepted the resignation of Dr. Fareed Mohammed Hadi, the
Chairman of Sharia Supervisory Board (SSB) of Al Hilal Islamic
Banking Services - Ahli Bank. (MSM)
Oman cuts defense and subsidy spending – According to the
provisional finance ministry figures, Oman's government has
responded to low oil prices by reducing the spending on defense
and subsidies; while continuing to invest in diversifying the
economy. The falling crude oil prices since 2014 has slashed
the government's net oil revenues, which shrank by 35% from a
year earlier to reach OMR1.67bn in the 1Q2015. The
government posted a budget deficit of OMR544.6mn in 1Q2015
from a OMR215.4mn surplus in 1Q2014. Public investment
spending rose by 2.3% to OMR555.4mn, with a slight decline in
investments in oil production, and a 35% increase in
investments in natural gas production. (GulfBase.com)
UPI BoD recommends 20% cash dividend – United Paper
Industries’ (UPI) board of directors (BoD) has recommended
20% cash dividends. (Bahrain Bourse)
6. Contacts
Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the
Qatar Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is
not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. QNBFS accepts no liability
whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically
engaged investment advice. We therefore strongly advise potential investors to seek independent professional advice before making any investment decision. Although the information in this report
has been obtained from sources that QNBFS believes to be reliable, we have not independently verified such information and it may not be accurate or complete. QNBFS does not make any
representations or warranties as to the accuracy and completeness of the information it may contain, and declines any liability in that respect. For reports dealing with Technical Analysis,
expressed opinions and/or recommendations may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical
technical data (price and volume). QNBFS reserves the right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment
decisions that differ significantly from, or even contradict, the views and opinions included in this report. This report may not be reproduced in whole or in part without permission from QNBFS
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS.
Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
Apr-11 Apr-12 Apr-13 Apr-14 Apr-15
QSE Index S&P Pan Arab S&P GCC
0.8%
0.1% 0.1%
0.2% 0.2%
(0.2%) (0.2%)
(0.5%)
0.0%
0.5%
1.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,187.32 (1.3) (1.6) 0.2 MSCI World Index 1,781.14 (1.3) (1.2) 4.2
Silver/Ounce 16.76 (2.6) (2.1) 6.7 DJ Industrial 18,041.54 (1.0) (1.0) 1.2
Crude Oil (Brent)/Barrel (FM
Future)
63.72 (2.7) (2.5) 11.1 S&P 500 2,104.20 (1.0) (1.0) 2.2
Crude Oil (WTI)/Barrel (FM
Future)
58.03 (2.8) (2.8) 8.9 NASDAQ 100 5,032.75 (1.1) (1.1) 6.3
Natural Gas (Henry
Hub)/MMBtu
2.82 (2.2) (2.2) (5.9) STOXX 600 403.61 (1.6) (2.3) 6.1
LPG Propane (Arab Gulf)/Ton 39.00 (9.3) (9.3) (20.4) DAX 11,625.13 (2.9) (2.9) 6.2
LPG Butane (Arab Gulf)/Ton 50.50 (6.0) (6.0) (19.5) FTSE 100 6,948.99 (1.7) (1.7) 4.6
Euro 1.09 (1.0) (1.3) (10.1) CAC 40 5,083.54 (1.5) (2.5) 7.1
Yen 123.10 1.3 1.3 2.8 Nikkei 20,437.48 (1.0) (0.3) 13.8
GBP 1.54 (0.5) (0.7) (1.2) MSCI EM 1,026.45 (0.9) (1.1) 7.3
CHF 1.05 (0.9) (1.2) 4.3 SHANGHAI SE Composite 4,910.90 2.0 5.3 51.9
AUD 0.77 (1.1) (1.1) (5.4) HANG SENG 28,249.86 0.9 0.9 19.7
USD Index 97.30 1.3 1.3 7.8 BSE SENSEX 27,531.41 (0.9) (2.2) (1.0)
RUB 50.84 1.6 1.7 (16.3) Bovespa 53,629.78 (2.9) (3.9) (9.8)
BRL 0.32 (1.7) (1.9) (16.0) RTS 1,025.16 (1.6) (2.5) 29.7
178.3
143.2
129.7