The QE index in Qatar declined 0.2% to close at 13,076.3, led by losses in the Industrials index. Medicare Group and Industries Qatar were the top losers. Islamic Holding Group and Qatari Investors Group were among the top gainers. Regional indices were mixed with Saudi Arabia and Bahrain rising while Oman declined.
QNBFS Daily Market Report November 03, 2019QNB Group
The QE Index declined 0.9% to close at 10,189.0. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 1.0%, respectively.
The QE index in Qatar rose 1.6% led by gains in the banking and financial services and real estate indices. Masraf Al Rayan and Qatar Islamic Bank were the top gainers rising 4.4% and 4.0% respectively. Regional indices were also up with Saudi Arabia and Dubai rising 0.2% and 1.5% respectively.
QNBFS Daily Market Report November 03, 2019QNB Group
The QE Index declined 0.9% to close at 10,189.0. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 1.0%, respectively.
The QE index in Qatar rose 1.6% led by gains in the banking and financial services and real estate indices. Masraf Al Rayan and Qatar Islamic Bank were the top gainers rising 4.4% and 4.0% respectively. Regional indices were also up with Saudi Arabia and Dubai rising 0.2% and 1.5% respectively.
The QE Index rose 1.5% to close at 10,920.7. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.7% and 1.8%, respectively.
QNBFS Daily Market Report October 28, 2020QNB Group
The QE Index rose 0.5% to close at 9,853.2. Gains were led by the Telecoms and Banks & Financial Services indices, gaining 1.0% and 0.8%, respectively.
The QE index in Qatar rose 0.6% led by gains in the consumer goods and industrials indices. Gulf International Services and Qatar General Ins. & Reins. Co. were the top gainers rising 4.9% each, while Ezdan Holding Group fell 3.8%. Regional indices were mixed with Saudi Arabia and Bahrain rising while Kuwait and Oman fell. ERES acquired a 20% stake in Qatari Investors Group, its second major acquisition in a month.
QNBFS Daily Market Report October 28, 2021QNB Group
The QE Index declined 0.3% to close at 11,665.7. Losses were led by the Telecoms and Consumer Goods & Services indices, falling 1.7% and 0.6%, respectively.
The QSE Index rose 0.1% to close at 9,015.2. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.4% and 0.1%, respectively.
The QE Index rose 0.3% to close at 10,602.9. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.2% and 0.6%, respectively.
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 in Qatar rose 0.4% led by gains in the transportation and telecom indices. Mazaya Qatar Real Estate Dev. and Zad Holding Co. were the top gainers rising 6.5% and 3.2% respectively, while Ezdan Holding Group fell 9.9%. Regional indices were mixed with Saudi Arabia and Bahrain rising while Dubai, Abu Dhabi, Kuwait, and Oman fell.
QNBFS Daily Market Report October 29, 2019QNB Group
The QE Index in Qatar declined 0.8% led by losses in the Insurance and Banks & Financial Services indices. Qatar General Insurance & Reinsurance Company and Mannai Corporation were the top losers falling 10.0% and 4.2% respectively. Most other GCC indices also declined except for Oman which gained 0.5%. Earnings releases from companies in Saudi Arabia showed declines in revenue and profits year-over-year for many except a few such as Saudi Cement Co.
The QE index in Qatar rose 1.5% led by gains in the real estate and insurance indices. Mannai Corp. and Qatar & Oman Investment Co. were the top gainers rising 10% each. Regional indices were mixed with Dubai and Abu Dhabi rising while Saudi Arabia and Oman fell. Earnings reports from companies in Saudi Arabia, Dubai and Oman showed mixed revenue and profit results. US economic indicators were slightly higher than forecasts.
QNBFS Daily Market Report February 9, 2017QNB Group
The QSE Index rose 0.7% led by gains in the Real Estate and Banks & Financial Services indices. Barwa Real Estate Co. and Islamic Holding Group were the top gainers rising 8.3% and 3.5% respectively, while United Development Co. fell 3.0%. Regional indices were mixed with Saudi Arabia down 1.0% but Kuwait up 1.1%. In company news, MCGS' net profit rose 517.2% QoQ in 4Q2016 while QIMD's net profit fell 53.4% QoQ over the same period.
The QE index in Qatar rose marginally to close at 12,970.8, led by gains in the telecom and industrial indices. Ooredoo and Qatar Islamic Insurance Co. were the top gainers, while Salam International Investment Co. and Al Ahli Bank declined the most. Regional markets were mixed with Saudi Arabia and Kuwait gaining slightly while Dubai, Abu Dhabi, Oman, and Bahrain fell. Trading volume on the QE fell 26.8% compared to the previous day.
QNBFS Daily Market Report November 17, 2021QNB Group
The QE Index rose 0.1% to close at 11,994.0 Gains were led by the Consumer Goods & Services and Real Estate indices, gaining 0.3% and 0.2%, respectively.
QNBFS Daily Market Report January 24, 2021QNB Group
The QE Index declined 0.6% to close at 10,736.4. Losses were led by the Banks & Financial Services and Telecoms indices, falling 0.8% and 0.6%, respectively.
CPFL Energia is Brazil's largest player in distribution and commercialization of energy. It has a 100% hydraulic generation portfolio and has expanded through acquisitions of distribution companies, SPPs, and stakes in other companies. CPFL focuses on organic growth through efficiency and small acquisitions, as well as larger acquisitions of distribution companies and cooperatives. It aims to grow further through generation projects, SPP repowering and acquisitions, cogeneration through biomass, and greenfield projects through auctions. CPFL has seen strong growth in installed capacity and benefits from long term generation concessions.
9 Cara promosi yang mengkonversi penjualan, & artikel seoBadrul Haq
Apakah anda :
Bisa membuat Promosi yang Meningkatkan Penjualan sampai 300% ?
Sebagaian besar pengunjung yang datang ke toko online Anda membeli produk Anda ?
Merubah orang yang tidak ingin membeli jadi sangat ingin membeli produk anda ?
Mengetahui cara menghapus ketakutan & keraguan membeli di benak pengunjung ?
The QE Index rose 1.5% to close at 10,920.7. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.7% and 1.8%, respectively.
QNBFS Daily Market Report October 28, 2020QNB Group
The QE Index rose 0.5% to close at 9,853.2. Gains were led by the Telecoms and Banks & Financial Services indices, gaining 1.0% and 0.8%, respectively.
The QE index in Qatar rose 0.6% led by gains in the consumer goods and industrials indices. Gulf International Services and Qatar General Ins. & Reins. Co. were the top gainers rising 4.9% each, while Ezdan Holding Group fell 3.8%. Regional indices were mixed with Saudi Arabia and Bahrain rising while Kuwait and Oman fell. ERES acquired a 20% stake in Qatari Investors Group, its second major acquisition in a month.
QNBFS Daily Market Report October 28, 2021QNB Group
The QE Index declined 0.3% to close at 11,665.7. Losses were led by the Telecoms and Consumer Goods & Services indices, falling 1.7% and 0.6%, respectively.
The QSE Index rose 0.1% to close at 9,015.2. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.4% and 0.1%, respectively.
The QE Index rose 0.3% to close at 10,602.9. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.2% and 0.6%, respectively.
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 in Qatar rose 0.4% led by gains in the transportation and telecom indices. Mazaya Qatar Real Estate Dev. and Zad Holding Co. were the top gainers rising 6.5% and 3.2% respectively, while Ezdan Holding Group fell 9.9%. Regional indices were mixed with Saudi Arabia and Bahrain rising while Dubai, Abu Dhabi, Kuwait, and Oman fell.
QNBFS Daily Market Report October 29, 2019QNB Group
The QE Index in Qatar declined 0.8% led by losses in the Insurance and Banks & Financial Services indices. Qatar General Insurance & Reinsurance Company and Mannai Corporation were the top losers falling 10.0% and 4.2% respectively. Most other GCC indices also declined except for Oman which gained 0.5%. Earnings releases from companies in Saudi Arabia showed declines in revenue and profits year-over-year for many except a few such as Saudi Cement Co.
The QE index in Qatar rose 1.5% led by gains in the real estate and insurance indices. Mannai Corp. and Qatar & Oman Investment Co. were the top gainers rising 10% each. Regional indices were mixed with Dubai and Abu Dhabi rising while Saudi Arabia and Oman fell. Earnings reports from companies in Saudi Arabia, Dubai and Oman showed mixed revenue and profit results. US economic indicators were slightly higher than forecasts.
QNBFS Daily Market Report February 9, 2017QNB Group
The QSE Index rose 0.7% led by gains in the Real Estate and Banks & Financial Services indices. Barwa Real Estate Co. and Islamic Holding Group were the top gainers rising 8.3% and 3.5% respectively, while United Development Co. fell 3.0%. Regional indices were mixed with Saudi Arabia down 1.0% but Kuwait up 1.1%. In company news, MCGS' net profit rose 517.2% QoQ in 4Q2016 while QIMD's net profit fell 53.4% QoQ over the same period.
The QE index in Qatar rose marginally to close at 12,970.8, led by gains in the telecom and industrial indices. Ooredoo and Qatar Islamic Insurance Co. were the top gainers, while Salam International Investment Co. and Al Ahli Bank declined the most. Regional markets were mixed with Saudi Arabia and Kuwait gaining slightly while Dubai, Abu Dhabi, Oman, and Bahrain fell. Trading volume on the QE fell 26.8% compared to the previous day.
QNBFS Daily Market Report November 17, 2021QNB Group
The QE Index rose 0.1% to close at 11,994.0 Gains were led by the Consumer Goods & Services and Real Estate indices, gaining 0.3% and 0.2%, respectively.
QNBFS Daily Market Report January 24, 2021QNB Group
The QE Index declined 0.6% to close at 10,736.4. Losses were led by the Banks & Financial Services and Telecoms indices, falling 0.8% and 0.6%, respectively.
CPFL Energia is Brazil's largest player in distribution and commercialization of energy. It has a 100% hydraulic generation portfolio and has expanded through acquisitions of distribution companies, SPPs, and stakes in other companies. CPFL focuses on organic growth through efficiency and small acquisitions, as well as larger acquisitions of distribution companies and cooperatives. It aims to grow further through generation projects, SPP repowering and acquisitions, cogeneration through biomass, and greenfield projects through auctions. CPFL has seen strong growth in installed capacity and benefits from long term generation concessions.
9 Cara promosi yang mengkonversi penjualan, & artikel seoBadrul Haq
Apakah anda :
Bisa membuat Promosi yang Meningkatkan Penjualan sampai 300% ?
Sebagaian besar pengunjung yang datang ke toko online Anda membeli produk Anda ?
Merubah orang yang tidak ingin membeli jadi sangat ingin membeli produk anda ?
Mengetahui cara menghapus ketakutan & keraguan membeli di benak pengunjung ?
El documento presenta información sobre la empleabilidad de graduados de una carrera, incluyendo tablas con datos sobre el número de graduados, tasas de empleo, sectores de empleo, y niveles salariales. También describe encuestas aplicadas a expertos y graduados para analizar las perspectivas y necesidades de mejora de la carrera. El objetivo es utilizar esta información para realizar cambios curriculares que mejoren la calidad y pertinencia de la formación.
Organisationsübergreifendes Arbetien und Kooperation als Schüssel zur Qualit...FEANTSA
Presentation given by Stefan Kunz, Katholische Bundesarbeitsgemeinschaft Wohnungslosenhilfe, Germany at a FEANTSA Conference on "Quality in Social Services from the Perspective of Services Working with Homeless People", Luxembourg City, Luxembourg, 2011
El documento describe los receptores sensoriales en la piel, ojos y oídos que detectan estímulos como moléculas, luz, sonido y los convierten en impulsos nerviosos. Explica cómo la piel contiene receptores que detectan moléculas en el aire, la retina convierte imágenes en impulsos nerviosos y la cóclea convierte ondas sonoras en impulsos eléctricos.
Presentations from 9 July 2015 Innovation Network event. For more information see: https://www.gov.uk/government/news/cde-innovation-network-event-9-july-2015-london
El documento ofrece 9 lecciones electorales para el PSOE. La primera lección es analizar rigurosamente por qué se está en la oposición y actualizar las políticas a los valores fundamentales. La segunda lección es que el reto de la izquierda no son sus valores sino su incapacidad de gestionar la realidad cambiante para aplicarlos. La tercera lección es que los progresistas sólo ganan cuando se dirigen al centro y no dejan que sus adversarios definan su posición estratégica.
9 essential stops from Brisbane to BirdsvilleSarah Mattsson
The Birdsville Races is one of those bucket list events. On your way out west, check out the 9 must see things to do along the journey.
Do the drive now: http://www.queenslandholidays.com.au/things-to-see-and-do/brisbane-to-birdsville-4wd-adventure-drive-itinerary-from-brisbane-to-birdsville/index.cfm
1. Dokumen ini memberikan instruksi lengkap untuk membuat laporan pencetakan buku menggunakan fungsi VLOOKUP dan HLOOKUP di Microsoft Excel. Instruksi tersebut mencakup cara mengisi kolom-kolom seperti kategori, judul, tahun terbit, harga, diskon, dan lainnya.
2. Data buku disimpan pada sheet bernama "Database" dan digunakan untuk mengisi kolom-kolom di sheet "Lap Cetak Buku" menggunakan fun
9 free business productivity tools for startupszubeditufail
This document outlines 9 free business productivity tools for startups:
1. Bitrix24.com is a social intranet that combines CRM, project management, and file sharing for up to 12 employees.
2. GotFreeFax.com allows sending up to 3 pages of fax for free in the US/Canada, with a premium pay-per-fax service.
3. RememberTheMilk.com is an all-in-one task manager, calendar, and to-do list that can integrate with Gmail.
9h55 am-Tammy Klein Presentation_Nov2014_REVTammy Klein
Sulfur reduction and octane improvement are the primary drivers of fuel quality changes in the GCC through 2030. Key points include:
- Saudi Arabia's fuel quality roadmap in 2016 will reduce sulfur to 10 ppm and reformulate gasoline specifications.
- Kuwait and UAE are reducing sulfur limits to 10 ppm in 2018 and 2015 respectively.
- Market octane demand is expected to rise as low octane grades are phased out to meet new standards.
- The Middle East will become a net exporter of gasoline after domestic demand is met through new refining investments.
El documento trata sobre la hidrosfera. Explica que la hidrosfera es la cantidad total de agua en la Tierra, incluyendo océanos, lagos y glaciares. También discute los impactos ambientales como la contaminación del agua, sus causas como vertidos industriales y domésticos, y las medidas correctivas como prohibir vertidos y controlar la escorrentía para proteger el agua.
Este documento define los conceptos básicos de la cinemática circular, incluyendo la velocidad angular, la velocidad tangencial, la aceleración angular, la aceleración tangencial y la aceleración centrípeta. Explica que la velocidad angular es perpendicular al plano de rotación, la velocidad tangencial es tangente a la trayectoria y perpendicular al radio, y la aceleración centrípeta causa un cambio en la dirección de la velocidad tangencial hacia el centro de la trayectoria circular.
PowerPoint es una herramienta informática que permite crear presentaciones visualmente impresionantes con texto, gráficos, fotos e imágenes para apoyar la enseñanza en el aula. Las presentaciones de PowerPoint pueden utilizarse como apoyo para la profesora al diseñar presentaciones con diversos elementos multimedia.
La pandemia de COVID-19 ha tenido un impacto significativo en la economía mundial. Muchos países experimentaron fuertes caídas en el PIB y aumentos en el desempleo debido a los cierres generalizados y las restricciones a los viajes. Aunque las vacunas han permitido la reapertura de muchas economías, los efectos a largo plazo de la pandemia en sectores como el turismo y los viajes aún no están claros.
El documento presenta la carta de llamados para una reunión de carreras que tendrá lugar el 9 de marzo de 2014 en el Nuevo Hipódromo de Las Flores. Se enumeran 15 turnos de carreras oficiales y no oficiales con distintas categorías y distancias. Cada turno detalla los requisitos de peso, premios y cuotas de inscripción. El Gran Clásico Nuevo Hipódromo de Las Flores ofrece premios estimados de $35.000 más dividendos por participación.
The QE Index declined 0.2% to close at 10,181.1. Losses were led by the Real Estate and Consumer Goods & Services indices, falling 0.7% and 0.6%, respectively
The QE index in Qatar rose 1.8% led by gains in the banking and industrial indices. Vodafone Qatar and Mesaieed Petrochem were the top gainers rising 7.9% and 6.4% respectively, while Zad Holding fell 2.5%. Trading volume on the QE index increased 16% compared to the previous day. Regional indices were mixed with Saudi Arabia and Abu Dhabi rising marginally while Dubai and Bahrain declined. Earnings results were reported from companies in the UAE, Oman, and Bahrain. Global economic data showed mixed results with US retail sales and industrial production missing estimates.
The QE Index declined 2.4% to close at 13,143.5. Losses were led by the Industrials and Banks & Financial Services indices, falling 3.5% and 2.1%, respectively.
The QE Index in Qatar declined 0.8% led by losses in the insurance and real estate indices. Ezdan Holding Group and Mazaya Qatar Real Estate Development were the top losers, falling 9.9% and 6.3% respectively. Volume traded fell 20% but was higher than the 30-day average. In other GCC markets, indices were mixed with Saudi Arabia down 0.1% while Abu Dhabi gained 0.2% and Bahrain gained 0.7%.
The QSE Index in Qatar declined 0.6% led by losses in the Insurance and Telecom indices. Top losers were Qatar Insurance Co. and Barwa Real Estate Co., falling 4.3% and 2.7% respectively. Regional indices were mixed with Saudi Arabia and Dubai down while Kuwait and Oman rose marginally. Earnings news saw profits rise for United Foods Co. and Al Buhaira National Insurance Co. but fall for BMMI in Bahrain. Global data showed French industrial production and German exports rising monthly but Chinese exports and imports declining sharply year-over-year in July.
QNBFS Daily Market Report February 09, 2022QNB Group
The QE Index declined marginally to close at 12,673.0. Losses were led by the Transportation and Insurance indices, falling 0.8% and 0.5%, respectively.
The QE index in Qatar declined slightly, led by losses in the transportation and banking indices. Widam Food and Qatar International Islamic Bank were the top losers. In other GCC markets, Saudi Arabia's index rose slightly while Dubai and Abu Dhabi fell. Regional company earnings and global economic indicators were also reported.
The QE Index rose marginally to close at 10,844.9. Gains were led by the Consumer Goods & Services and Industrials indices, gaining 0.8% and 0.4%, respectively.
The QE index in Qatar rose 0.3% led by gains in the telecom and insurance indices. Dlala Brok. & Inv. Holding Co. and Ooredoo were the top gainers, while Islamic Holding Group and Al Meera Consumer Goods Co. declined. Volume traded was lower than the 30-day average. In other GCC markets, Saudi Arabia and Abu Dhabi rose while Kuwait fell. Global economic data showed higher than expected US consumer credit and small business optimism, while UK industrial production was flat.
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 Technical Trader Qatar - October 10, 2023 التحليل الفني اليومي لب...QNB Group
The document provides a daily technical analysis of the QE Index and QATAR INSURANCE CO stock. For the QE Index, it notes the index remains in a downtrend but is approaching a support level of 9,700, where long positions could be taken. It provides expected resistance and support levels. For QATAR INSURANCE CO stock, it notes the stock has not fallen as much as others and the uptrend remains intact above moving averages, though liquidity is low. It provides expected price targets and resistance/support levels for the stock. Definitions of technical analysis terms like candlesticks, support, and simple moving average are also included.
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 in Qatar rose 0.3% led by gains in the Transportation and Industrials indices. Qatar Navigation and Al Khaleej Takaful Insurance were the top gainers.
- Regional markets were mixed with Saudi Arabia down 1% but Abu Dhabi up marginally. Economic data from the US and Europe was mixed.
- In Qatar news, QR500mn in bills were sold at a yield of 5.755% and Gulf International Services approved final merger agreements. Ooredoo also signed an MoU to support businesses in Qatar free zones.
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.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
South Dakota State University degree offer diploma Transcriptynfqplhm
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13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
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.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
7 August Daily market report
1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.2% to close at 13,076.3. Losses were led by the
Industrials index, declining 0.9%, while other indices ended in green. Top losers
were Medicare Group and Industries Qatar, falling 3.4% and 2.5%,
respectively. Among the top gainers, Islamic Holding Group rose 9.7%, while
Qatari Investors Group was up 4.4%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.7% to close at 10,552.5. Gains were led
by the Multi-Investment and Banking & Fin. Services indices, rising 2.0% and
1.2%, respectively. Al Alamiya gained 10.0%, while Gulf Union was up 9.7%.
Dubai: The DFM index gained 0.2% to close at 4,734.8. The Real Estate &
Construction index gained 1.1%, while the Insurance index rose 0.1%. Int. Fin.
Advisors rose 6.5%, while Dubai Islamic Ins. & Reins. Co. was up 2.6%.
Abu Dhabi: The ADX benchmark index rose 0.2% to close at 4,925.1. The
Real Estate index gained 0.7%, while the Inv. & Fin. Serv. index was up 0.3%.
Finance House surged 11.5%, while Abu Dhabi Ship Building gained 1.9%.
Kuwait: The The KSE index gained 0.2% to close at 7,186.4. The Technology
index rose 1.1%, while Parallel Market index was up 1.0%. Arkan Al-Kuwait
Real Estate Co. gained 8.6%, while Salbookh Trading Co. was up 8.2%.
Oman: The MSM index declined 0.1% to close at 7,336.4. Losses were led by
the Industrial and Services indices falling 0.5% and 0.2% respectively. Global
Financial Investment fell 3.7%, while Al Anwar Ceramic Tiles was down 3.5%.
Bahrain: The BHB index gained 0.5% to close at 1,494.0. The Commercial
Banking index rose 1.1%, while the Investment index rose 0.1%. Esterad
Investment Co. gained 3.1%, while Al-Ahli United Bank was up 2.5%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Islamic Holding Group 79.00 9.7 1,359.5 71.7
Qatari Investors Group 56.40 4.4 245.8 29.1
Mazaya Qatar Real Estate Dev. 22.04 3.7 3,346.7 97.1
Doha Insurance Co. 29.50 3.5 79.7 18.0
Al Meera Consumer Goods Co. 192.00 2.1 53.6 44.0
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 22.04 3.7 3,346.7 97.1
Salam International Investment Co. 20.10 1.0 1,715.7 54.5
Islamic Holding Group 79.00 9.7 1,359.5 71.7
Ezdan Holding Group 19.90 0.5 808.2 17.1
United Development Co. 30.00 0.3 704.2 39.3
Market Indicators 07 Aug 14 06 Aug 14 %Chg.
Value Traded (QR mn) 630.5 583.5 8.1
Exch. Market Cap. (QR mn) 695,561.8 695,508.2 0.0
Volume (mn) 13.7 15.5 (11.5)
Number of Transactions 7,177 7,004 2.5
Companies Traded 42 42 0.0
Market Breadth 24:14 17:19 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 19,503.23 (0.2) 1.5 31.5 N/A
All Share Index 3,305.93 (0.0) 1.6 27.8 16.0
Banks 3,167.83 0.1 0.8 29.6 15.5
Industrials 4,289.52 (0.9) 0.3 22.6 16.5
Transportation 2,327.48 0.7 4.4 25.2 14.9
Real Estate 2,832.92 0.4 5.5 45.1 15.3
Insurance 3,847.25 0.7 2.5 64.7 12.2
Telecoms 1,598.70 0.1 1.3 10.0 22.6
Consumer 7,345.60 0.2 4.7 23.5 27.5
Al Rayan Islamic Index 4,477.65 (0.3) 4.3 47.5 19.2
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
United Real Estate Co. Kuwait 0.11 5.8 466.4 (6.8)
F. A. Alhokair & Co. Saudi Arabia 123.20 4.6 706.6 77.3
Qatari Investors Group Qatar 56.40 4.4 245.8 29.1
Mabanee Co. Kuwait 1.04 4.0 1,165.8 (2.5)
Zamil Industrial Inv. Saudi Arabia 64.04 3.8 814.3 47.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Com. Bank Of Dubai Dubai 6.40 (3.8) 253.0 48.5
Al-Qurain Petrochem. Kuwait 0.25 (2.7) 427.8 11.7
Nat. Mobile Telecom. Kuwait 1.50 (2.6) 20.7 (14.8)
Industries Qatar Qatar 169.60 (2.5) 379.7 0.4
Savola Saudi Arabia 83.47 (2.1) 391.4 33.0
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)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Medicare Group 118.70 (3.4) 70.6 126.1
Industries Qatar 169.60 (2.5) 379.7 0.4
Qatar Islamic Bank 109.20 (2.1) 288.0 58.3
National Leasing 28.80 (1.0) 115.0 (4.5)
Masraf Al Rayan 53.80 (0.9) 665.2 71.9
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Islamic Holding Group 79.00 9.7 105,440.8 71.7
Mazaya Qatar Real Estate Dev. 22.04 3.7 72,532.5 97.1
Industries Qatar 169.60 (2.5) 64,763.1 0.4
Qatar Electricity & Water Co. 184.50 0.8 35,874.5 11.6
Masraf Al Rayan 53.80 (0.9) 35,786.1 71.9
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* 13,076.33 (0.2) 1.5 1.5 26.0 227.87 191,001.3 16.1 2.2 3.8
Dubai 4,734.76 0.2 (2.0) (2.0) 40.5 124.10 92,657.0 20.9 1.8 2.2
Abu Dhabi 4,925.14 0.2 (2.6) (2.6) 14.8 34.15 135,597.9 14.0 1.7 3.4
Saudi Arabia 10,552.48 0.7 3.3 3.3 23.6 2,287.00 576,146.1 20.3 2.6 2.7
Kuwait 7,186.42 0.2 0.8 0.8 (4.8) 52.00 113,111.2 17.1 1.1 3.8
Oman 7,336.40 (0.1) 1.9 1.9 7.3 14.63 26,944.2 11.4 1.8 3.8
Bahrain 1,494.03 0.5 1.5 1.5 19.6 37.30 54,577.1 11.8 1.0 4.6
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
13,000
13,050
13,100
13,150
13,200
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 QE index declined 0.2% to close at 13,076.33. The
Industrials index led the losses. The index fell on the back of
selling pressure from Qatari shareholders despite buying support
from non-Qatari shareholders.
Medicare Group and Industries Qatar were the top losers, falling
3.4% and 2.5%, respectively. Among the top gainers, Islamic
Holding Group rose 9.7%, while Qatari Investors Group was up
4.4%.
Volume of shares traded on Thursday fell by 11.5% to 13.7mn
from 15.5mn on Wednesday. Further, as compared to the 30-day
moving average of 15.0mn, volume for the day was 8.5% lower.
Mazaya Qatar Real Estate Dev. and Salam International
Investment Co. were the most active stocks, contributing 24.5%
and 12.5% to the total volume respectively.
Source: Qatar 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
Oman Insurance
Company (OIC)
AM Best Dubai FSR/ICR A/a A/a – Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC –
Local Currency, ICR – Issuer Credit Rating)
Earnings Releases
Company Market Currency
Revenue
(mn)2Q2014
% Change
YoY
Operating Profit
(mn) 2Q2014
% Change
YoY
Net Profit (mn)
2Q2014
% Change
YoY
Alliance Insurance Dubai AED – – 1.9 -65.3% 9.4 -23.7%
Air Arabia Dubai AED 915.0 NA – – 173.0 127.6%
Emirates Insurance Co.
(EIC)
Abu Dhabi AED 220.5 15.8% 8.1 0.1% 40.4 85.5%
Sharjah Cement & Industrial
Development Co. (SCIDC)
Abu Dhabi AED 206.9 33.8% – – 22.2 148.2%
Arab Insurance Group
(ARIG)
Bahrain USD 29.5 -33.3% 0.0 -99.4% 1.9 -36.7%
Source: Company data, DFM, ADX, MSM
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
08/07 US Bloomberg Bloomberg Consumer Comfort 3 August 36.2 – 36.3
08/07 US MBA Mortgage Delinquencies 2Q2014 6.04% – 6.11%
08/07 US MBA MBA Mortgage Foreclosures 2Q2014 2.49% – 2.65%
08/07 US Federal Reserve Consumer Credit June $17.255B $18.650B $19.642B
08/08 US BLS Nonfarm Productivity 2Q2014 2.50% 1.60% -4.50%
08/08 US US Census Bureau Wholesale Inventories MoM June 0.30% 0.70% 0.30%
08/08 US US Census Bureau Wholesale Trade Sales MoM June 0.20% 0.70% 0.70%
08/07 EU European Central Bank ECB Main Refinancing Rate 7 August 0.15% 0.15% 0.15%
08/07 EU European Central Bank ECB Marginal Lending Facility 7 August 0.40% 0.40% 0.40%
08/07 EU European Central Bank ECB Deposit Facility Rate 7 August -0.10% -0.10% -0.10%
08/07 France Banque De France Bank of France Bus. Sentiment July 96.0 97.0 97.0
08/07 France INSEE Industrial Production MoM June 1.30% 1.00% -1.60%
08/07 France INSEE Industrial Production YoY June -0.40% -1.80% -3.40%
08/07 France INSEE Manufacturing Production MoM June 1.60% 1.50% -2.30%
08/07 France INSEE Manufacturing Production YoY June 0.10% -1.10% -2.60%
08/07 France Ministry of the Economy Budget Balance YTD June -59.4B – -64.3B
08/07 Germany Destatis Trade Balance June 16.5B 18.9B 17.8B
08/07 Germany Destatis Current Account Balance June 15.0B 18.5B 12.2B
08/07 Germany Deutsche Bundesbank Exports SA MoM June 0.90% 0.80% -1.10%
08/07 Germany Deutsche Bundesbank Imports SA MoM June 4.50% 1.00% -3.40%
08/07 UK Bank of England Bank of England Bank Rate 7 August 0.50% 0.50% 0.50%
08/07 UK Bank of England BOE Asset Purchase Target August 375B 375B 375B
08/08 UK ONS Visible Trade Balance GBP/Mn June -£9413 -£8900 -£9150
08/08 UK ONS Trade Balance Non EU GBP/Mn June -£3841 -£3700 -£4079
Overall Activity Buy %* Sell %* Net (QR)
Qatari 66.84% 70.49% (23,079,430.73)
Non-Qatari 33.17% 29.51% 23,079,430.73
3. Page 3 of 6
08/08 UK ONS Trade Balance June -£2459 -£2050 -£2364
08/08 UK ONS Construction Output SA MoM June 1.20% 1.00% -1.20%
08/08 UK ONS Construction Output SA YoY June 5.30% 4.70% 3.90%
08/07 Spain INE Industrial Output NSA YoY June 2.90% – 0.60%
08/07 Spain INE Industrial Output SA YoY June 0.80% 2.70% 2.50%
08/07 China NBS Exports YoY July 14.50% 7.00% 7.20%
08/07 China NBS Imports YoY July -1.60% 2.60% 5.50%
08/08 China NBS PPI YoY July -0.90% -0.90% -1.10%
08/08 China NBS CPI YoY July 2.30% 2.30% 2.30%
08/07 Japan Bank of Japan Housing Loans YoY 2Q2014 2.70% – 2.90%
08/07 Japan ESRI Eco Watchers Survey Current July 51.3 48.5 47.7
08/07 Japan ESRI Eco Watchers Survey Outlook July 51.5 – 53.3
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
Turkey’s Bank Asya says deal with QIBK ends – Turkey's
Bank Asya has announced that an exclusive deal with Qatar
Islamic Bank (QIBK) to acquire a stake in the Turkish lender was
annulled, paving the way for alternative suitors. Earlier this year,
Bank Asya attempted to form a partnership with QIB but had
ended the talks after a disagreement over price. The exclusivity
deal, under which Bank Asya could not pursue an offer from
another potential buyer, was terminated as of August 8, 2014 so
that it could receive formal bids from Turkish investors.
(Reuters)
MCCS reports QR164.9mn net profit in 2Q2014, up 9.9%
QoQ – Mannai Corporation (MCCS) reported a net profit of
QR164.9mn in 2Q2014, indicating a QoQ and YoY increase of
9.9% and 53.7%, respectively. EPS grew to QR6.91 in 1H2014
as against QR4.25 reported in 1H2013, supported by the
acquisition of the minority interests in its Damas subsidiary.
Accordingly the group’s share of profit increased from
QR150.1mn to QR164.9mn. Despite a marginal drop in revenue,
MCCS reported an impressive growth in profit, which included
successful recoveries of doubtful debts, which were provisioned
in previous years. Continuing its conservative provisioning
policy, the company also made provisions against future
doubtful asset values. Further, overseas investments
contributed significantly to MCCS’ earnings thereby enabling it
to achieve growth in profits. (Peninsula Qatar, QE)
QCFS posts QR1.7mn net profit in 2Q2014 – Qatar Cinema &
Film Distribution (QCFS) posted a lower net profit despite a
higher operating income on a QoQ basis in 2Q2014. QCFS
reported a net profit of QR1.7mn in 2Q2014 as compared to
QR4.2mn in 1Q2014. The Company’s EPS amounted to QR1.04
in 1H2014 verses QR0.99 in 1H2013. Meanwhile, the
company’s operating income declined 15.5% YoY to QR3.5mn
in 2Q2014 (+14.9% QoQ). (Gulf-Times.com)
Investors in real estate eyeing Doha outskirts – With project
work of Doha Metro rail picking up, real estate investors are
increasingly looking to invest in the outskirts of the city, the
areas covering an estimated over 100 kilometer network. There
is a growing appetite to invest money in the interiors like Al
Shamal, Al Khaisa, Umm Salal and Al Kharaitiyat. Work on the
metro project is progressing fast. Simultaneously, the
government is investing huge amount of money in the interiors
to develop infrastructure facilities with the support of concerned
municipal authorities. The civic bodies have also set aside
enough money in their annual budgets to expand public service
facilities in their areas, adding incentives for investors. Non-
availability of vacant plots in Doha and the prospects of future
development in the areas covering the rail network have pushed
up demand in Doha’s interiors. (Peninsula Qatar)
International
US productivity bounce-back keeps wage pressures tame –
Productivity at US nonfarm businesses rebounded strongly in
the second quarter, putting a lid on wage pressures and giving
the Federal Reserve room to keep interest rates low for a while.
The Labor Department said productivity increased at a 2.5%
annual rate after contracting at a revised 4.5% pace in the first
quarter. The first quarter's drop was the sharpest since the
fourth quarter of 1981. The bounce back kept labor-related
production costs in check. They had surged at the start of the
year as an unusually cold winter depressed output. Unit labor
costs, the price of labor for any given unit of production, rose at
a 0.6% rate, braking sharply from an upwardly revised 11.8%
pace in the first quarter. (Reuters)
Acadata: UK house prices rise to record as sales surge –
According to Acadata, UK home prices rose to a record last
month as sales reached the highest in seven years. Values rose
0.6% from June and were up 9.9% compared with a year earlier,
pushing the average price to £270,636. About 90,000 properties
were sold, marking a 21% surge over the past year. While the
report adds to evidence of a booming property market, Acadata
said the national picture is being skewed by London and the
south east. Other reports have indicated the market is cooling
after stricter lending rules were introduced this year, and Bank of
England Deputy Governor Ben Broadbent said last month that
the “edge is coming off” UK housing. (Bloomberg)
Draghi takes aim at Italy as recession scars Euro area –
Mario Draghi said that Italy can only blame itself for its third
recession since 2008. The European Central Bank president
singled out his country’s lack of structural reform after data
showed the Euro-area’s third-biggest economy unexpectedly
contracted last quarter. The comments in Draghi’s monthly
press conference came a day before Italian Prime Minister
Matteo Renzi won a key vote in his drive to remake the country’s
political system. The remarks on his homeland are blunter than
normal, adding to the contrast with countries such as Spain that
have engaged in more structural adjustments. They increase
pressure on Renzi to turn around an economy that threatens the
18-nation Euro area’s nascent revival. (Bloomberg)
Draghi says Ukraine crisis a risk to the Eurozone –
European Central Bank President Mario Draghi said the crisis in
Ukraine represents a risk to the Euro zone economy, although
the likely impact of European sanctions on Russia and
retaliatory measures is uncertain. The European Union has
imposed sanctions targeting Russia's banking, defense and
energy sectors because of Moscow's support for pro-Russian
separatists in eastern Ukraine, while Russia has banned fruit
and vegetable imports from the European Union. Draghi said it
was hard to assess the likely impact of a crisis at the beginning,
4. Page 4 of 6
adding that "if one looks at the figures for trade or financial
flows, they would by and large reveal a picture of very limited
interconnections". He said only a handful of major European
financial institutions were especially exposed to Russia. He
further added that however, it's very hard to assess what the
actual impact is going to be once sanctions on one side and
counter-sanctions on the other side are going to be undertaken.
(Reuters)
BOJ holds stimulus as weaker economy challenges Kuroda
– The Bank of Japan (BOJ) maintained record stimulus after
recent production and export data highlighted weakness that
could challenge Governor Haruhiko Kuroda’s push to stoke
faster inflation. BOJ said that it stuck with a pledge to increase
the monetary base at an annual pace of 60tn Yen to 70tn Yen,
as forecast by all 34 economists surveyed by Bloomberg News.
The BOJ cited “some weakness” in exports and production,
striking a note of concern about the strength of the world’s third-
biggest economy. Outbound shipments unexpectedly fell in
June, while output slumped the most in more than three years
as retail sales dropped, showing an economy struggling to
rebound from a sales-tax increase last quarter. (Bloomberg)
China reports record trade surplus; Inflation remains below
annual target – China’s trade surplus surged to a record in July
as export growth unexpectedly accelerated and imports fell,
suggesting the US and European recoveries will help sustain
expansion in the world’s second-largest economy. The Beijing-
based customs administration said overseas shipments
increased 14.5% from a year earlier, beating all estimates in a
Bloomberg News survey that had a median projection of 7%.
Imports dropped 1.6%, leaving a trade surplus of $47.3bn,
bigger than all analyst estimates. Sales to the biggest markets of
the US and Europe surged, indicating strength in demand that
will reduce pressure on Premier Li Keqiang to expand stimulus
in the second half to bolster growth. The report contrasts with
the International Monetary Fund’s estimate last month of a
slowdown in the US economy that accompanied a cut in its
global growth outlook. Meanwhile, China’s consumer inflation
remained below the government’s goal in July and factory-gate
deflation persisted, suggesting policy makers still have room for
monetary easing amid a lack of pressure on prices. The National
Bureau of Statistics said the consumer price index rose 2.3%
from a year earlier, the same pace as in June and also the
median estimate in a Bloomberg News survey. Factory-gate
prices fell 0.9%, matching projections and extending the longest
stretch of declines since 1999. (Bloomberg)
Regional
OPEC sees lower 2014 oil demand growth, pumps more –
OPEC trimmed its 2014 global oil demand growth forecast for a
second consecutive month and said the group managed to
increase output in July despite violence in Iraq and Libya,
pointing to more comfortable global supplies. The OPEC
trimmed its projection for growth in global demand in 2014 to
1.10mn bpd, down 30,000 bpd, citing weaker-than-expected US
demand. OPEC said that the slow and uneven global recovery
continues. In 2014, US oil demand remains strongly dependent
on the development of the US economy; however the risk is
skewed to the downside compared to the previous month.
OPEC’s report points to even less pressure on supplies in 2015
as partly due to the US shale boom the need for OPEC crude
will fall, despite faster growth in global demand. The report
made no change to 2015’s global demand forecast. OPEC said
that in 2014, the lower demand forecast and a higher
expectation for non-Opec supply will reduce the forecast global
demand for Opec crude to 29.61mn bpd, down 70,000 bpd from
the previous estimate. It left next year’s forecast unchanged at
29.36mn bpd. The report also showed OPEC’s crude output in
July rose. Opec said that world oil demand will rise by 1.21mn
bpd in 2015, unchanged from last month. Opec trimmed its
forecast of next year’s growth in non-Opec supply by about
40,000 bpd but still expects an expansion of 1.27mn bpd, with
the US leading the way. (Gulf-Times.com)
IATA: Middle East airlines post 10.8% passenger growth in
June 2014 – According to the International Air Transport
Association (IATA), passenger demand among Middle East
carriers increased 10.8% in June 2014. The capacity among
Mideast carriers increased 5.9% in June 2014, while the load
factor rose 3.7% points to 82.1%. Middle East carriers have
recorded a 13.9% surge in passenger demand for the six
months ending June 30, 2014. Globally, total revenue
passenger kilometres (RPKs), a measurement for the number of
passengers carried, rose 4.7% in June 2014. The figures for the
month of June were down on May 2014’s 6.2% growth. IATA
said the capacity across global airlines increased by 5%, which
saw load factor slip 0.2% points to 81.5%. (GulfBase.com)
Jordan cancels 400MW solar and wind tender – According to
Jordan Times, Jordan’s Ministry of Energy and Mineral
Resources has cancelled a procurement round for four 100
megawatt (MW) renewable energy projects. The process was
open to wind and solar developments, but a statement on the
ministry’s website has confirmed that the process has now been
cancelled. According to the newspaper, Energy minister
Mohammad Hamed said a request to the Gulf Cooperation
Council (UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain)
for a grid improvement grant had been rejected. (Bloomberg)
Vela vessel transferred to Bahri's ownership – National
Shipping Company of Saudi Arabia (Bahri) announced that
Capricorn Star, one of the VLCC vessels in the Vela fleet, was
transferred to Bahri's ownership on August 7, 2014 and its name
was changed to Lulu. The remaining Vela vessels shall be
transferred to Bahri on a staggered basis according to an
agreed upon vessel delivery schedule with Vela and is expected
to be completed by 2014-end. (Tadawul)
SAMA approves AXA’s product sales via website – The
Saudi Arabian Monetary Agency (SAMA) has approved
electronic sales of AXA Cooperative Insurance Company’s
(AXA) insurance products via the company's website. The
products include travel insurance, motor insurance and personal
accident. (Tadawul)
SRO awards SR391.5mn rail track-doubling contract – Saudi
Railways Organization (SRO) has signed a SR391.5mn contract
with a Saudi Arabian contractor for the first phase of track-
doubling on the Riyadh-Harad-Dammam freight-only line. The
contract involves doubling a 214-kilometer section of the line
from Hofuf to Harad, and is expected to be completed in two
years. The scope of work includes reconstruction of bridges, and
provision of signaling & telecommunications to enable use of the
line by both freight and passenger trains. (GulfBase.com)
KACST: Saudi Arabia’s petrochemical income to rise five
times – King Abdulaziz City for Science and Technology’s
(KACST) specialists in the field of petrochemical technology
confirmed that a Saudi team has achieved a scientific discovery
by inventing a new type of polymer plastics for the production of
poly material, which will support the development of the
petrochemical industry in Saudi Arabia, which is expected to
double its income five times in 2015. (GulfBase.com)
Jeddah Metro to be ready by 2022 – The Jeddah Metro, which
is expected to cost SR45bn, will be ready by 2022. The CEO of
the metro company, Osama Ibrahim Abdu, said the new metro
5. Page 5 of 6
project aims to cover 30% of the city’s traffic, and reduce traffic
congestion in the business city. (GulfBase.com)
VTB provides $100mn loan to Dar Al Arkan – Russia-based
VTB Group has provided a $100mn margin loan to Saudi
Arabia-based Dar Al Arkan Real Estate Development Company.
(Reuters)
Air Arabia unveils second Turkish destination – Sharjah-
based low-cost airline Air Arabia has announced the start of its
non-stop services to the city of Antalya, on the Mediterranean
coast, in the South West of Turkey. The new service marks the
airline’s second destination in Turkey and 97th worldwide.
Starting July 29, 2014, Air Arabia will operate three weekly
flights to Antalya, making it a convenient holiday destination for
passengers travelling from the UAE. (GulfBase.com)
TRA: UAE telecom sector earns AED29.18bn in 2013 –
According to the Telecommunications Regulatory Authority’s
(TRA) annual sector review, the UAE’s telecommunications
sector reported a 6.57% increase in revenue to AED29.18bn in
2013 as compared to AED27.38 billion in 2012, fueled mainly by
growth in mobile services. Postpaid subscriptions accounted for
13% of the total mobile subscriptions in 2013. The fall in
penetration levels between 2011 and 2012 was due to changes
in the population estimates for the UAE. The report said that the
number of residential fixed telephone lines increased by nine per
cent between 2012 and 2013 to over 2.08mn, while the number
of business lines rose by two per cent. The fixed line penetration
rate stood at 25% in 2013. (GulfBase.com)
USDC: UAE and US total trade hits $11.67bn in 1H2014 –
According to the United States Departments of Commerce
(USDC), the total trade between UAE and the US dropped by
around 22% to $11.67bn in 1H2014 as compared to $14.92bn in
1H2013. UAE imports from the US fell by around 23% to
$10.41bn in 1H2014 as compared to $13.52bn in 1H2013, while
the UAE’s exports to the US fell by around 9% to $1.27bn in
1H2014 as compared to $1.4bn in 1H2013. By this, the deficit of
the UAE’s balance of trade with the US dropped by around 25%
from $12.12bn in 1H2013 to $9.14bn in 1H2014.
(GulfBase.com)
Amlak agrees $2.7bn debt deal with creditors – Amlak
Finance has agreed to a $2.7 billion debt restructuring that may
pave the way for its shares to resume trading after they were
suspended in 2008. Under the terms of the agreement, the
company will make an initial payment of $545mn to lenders. The
remaining debt will be repaid over a period of 12 years. Also as
part of the restructuring, financiers will exchange AED1.4bn of
their original debt for a convertible instrument that Amlak plans
to repay from gains by selling real estate assets. (Bloomberg)
Meraas plans IPO – According to sources, Dubai government-
owned property developer Meraas Holding is considering an
IPO as the regional real-estate market continues its rapid
recovery from the financial crisis. (GulfBase.com)
Etihad to buy 49% stake in Alitalia – Etihad Airways is
investing €560mn and taking a 49% stake in Alitalia after 12
months of negotiations. Etihad is spending €387.5mn on the
equity stake, €60mn on buying five London Heathrow slots off
Alitalia and a further €112.5mn to acquire 75% of Alitalia’s
frequent-flyer program. The Heathrow slots will be leased back
to Alitalia. The transaction is due to be completed on December
31, 2014. Apart from Etihad’s investment existing core investors
have approved a €300mn capital increase, and Italian financial
institutions will supply the same amount in new loans. Some
€598mn of short- and medium-term debt will also be
restructured. (GulfBase.com, Bloomberg)
TAQA suspends activities in Kurdistan block due to
instability – Abu Dhabi National Energy Company (TAQA) has
suspended its activities at the Atrush Block in Kurdistan due to
the instability prevailing in the region. The TAQA-operated
Atrush Block, which is located 85 kilometer northwest of Arbil,
Iraq's Kurdish capital, is expected to initially produce
approximately 30,000 barrels of oil per day (bpd) with first oil
expected by early 2015. (Reuters)
Etisalat Nigeria to sell and lease back 2,136 towers to IHS
Holding – Etisalat Nigeria, an affiliate of Emirates
Telecommunications Corporation, said it would sell 2,136 of its
towers to Nigeria's IHS Holding and lease them back as part of
plans to expand its coverage in the country. Under the terms of
the agreement, IHS has committed to invest a further $100mn in
the towers, on areas such as advanced generators and efficient
batteries. The deal will leave IHS owning and managing over
6,540 towers in Nigeria. The deal is reportedly expected to close
later in 2014. (Reuters)
Dana Gas to recover overdue Egypt payments by 2018 –
Dana Gas is expecting to recover the vast majority of overdue
payments which the Egyptian government owes it by 2018. The
company is putting in place a new arrangement with the
government that will permit it to invest in new Egyptian wells and
redevelop existing wells. The new arrangement in Egypt will
result in increased production from Dana’s operations there. It
will take all the additional condensate production and sell it on
the international market, using revenues from those sales to pay
down overdue receivables. (GulBase.com)
NCSI: 170% jump in visitors to Salalah – According to the
National Centre for Statistics and Information (NCSI), the
number of visitors to Salalah during the Khareef Season has
grown by 170% – it stood at 203,171 visitors from June 21, 2014
through August 6, 2014, as compared to 75,262 visitors during
the same period in 2013. According to the updated figures,
58,048 visitors flew to Salalah, with 51,235 on domestic flights
and 6,813 on international flights, while the total number of
visitors travelling to the Dhofar region by road stood at 145,123.
The NCSI revealed that the majority of visitors were GCC
citizens, totaling 178,131, with 46,458 arriving via the airport,
41,235 domestically and 5,223 internationally, while 131,673
visitors arrived by road. (Bloomberg)
ASBB reports net profit of BHD8.17mn in 1H2014 – Al Salam
Bank-Bahrain (ASBB) reported net profit of BHD8.17mn in
1H2014 as compared to BHD6.02mn in 1H2013. The net profit
for 2Q2014 was BHD4.15mn as against BHD2.97mn in 2Q2013.
The operating income for 1H2014 was BHD34.15mn as
compared to BHD21.17mn in 1H2013. EPS for 1H2014
amounted to 4.6 fils as against 4 fils during 1H2013. ASBB’s
total assets as of June 30, 2014 stood at BHD1.96bn as
compared to BHD1.09bn as of December 31, 2013. (DFM)
EIU: Bahrain’s food import costs set to hit $1bn – According
to London-based Economic Intelligence Unit (EIU), food import
costs are expected to top the $1bn mark for the first time in
Bahrain in 2014 as the country increases its reliance on
imported goods. Bahrain is expected to spend an additional
$100mn on food every year from now until 2020 when the import
bill is forecasted to hit $1.6bn. (GulfBase.com)
6. Contacts
Saugata Sarkar Abdullah Amin, CFA Shahan Keushgerian
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6509
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
Sahbi Kasraoui Ahmed Al-Khoudary QNB Financial Services SPC
Manager – HNWI Head of Sales Trading – Institutional Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548 PO Box 24025
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa Doha, Qatar
DISCLAIMER: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Exchange; QNB 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. 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. While this publication has been prepared with the utmost degree of care by our analysts,
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. QNBFS reserves the
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
160.0
170.0
180.0
190.0
200.0
210.0
Jul-10 Jul-11 Jul-12 Jul-13 Jul-14
QE Index S&P Pan Arab S&P GCC
0.7%
(0.2%)
0.2%
0.5%
(0.1%)
0.2% 0.2%
(0.4%)
(0.2%)
0.0%
0.2%
0.4%
0.6%
0.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,310.95 (0.1) 1.4 8.7 DJ Industrial 16,553.93 1.1 0.4 (0.1)
Silver/Ounce 19.89 (0.3) (2.1) 2.2 S&P 500 1,931.59 1.2 0.3 4.5
Crude Oil (Brent)/Barrel (FM
Future)
105.02 (0.4) 0.2 (5.2) NASDAQ 100 4,370.90 0.8 0.4 4.7
Natural Gas (Henry
Hub)/MMBtu
3.91 (1.3) 4.4 (9.9) STOXX 600 324.91 (0.6) (2.1) (1.0)
LPG Propane (Arab Gulf)/Ton 102.50 0.9 2.1 (18.8) DAX 9,009.32 (0.3) (2.2) (5.7)
LPG Butane (Arab Gulf)/Ton 118.63 0.6 2.5 (13.1) FTSE 100 6,567.36 (0.5) (1.7) (2.7)
Euro 1.34 0.3 (0.1) (2.4) CAC 40 4,147.81 (0.0) (1.3) (3.4)
Yen 102.04 (0.1) (0.6) (3.1) Nikkei 14,778.37 (3.0) (4.8) (9.3)
GBP 1.68 (0.4) (0.3) 1.3 MSCI EM 1,045.51 (0.5) (1.4) 4.3
CHF 1.10 0.4 0.1 (1.4) SHANGHAI SE Composite 2,194.43 0.3 0.4 3.7
AUD 0.93 0.0 (0.4) 4.0 HANG SENG 24,331.41 (0.2) (0.8) 4.4
USD Index 81.39 (0.2) 0.1 1.7 BSE SENSEX 25,329.14 (1.0) (0.6) 19.6
RUB 36.18 (0.4) 1.1 10.1 Bovespa 55,572.93 (1.1) (0.6) 7.9
BRL 0.44 0.5 (1.1) 3.5 RTS 1,170.60 1.1 (3.5) (18.9)
187.9
161.3
145.4