The QSE Index rose 1.0% to close at 8,792.9. Gains were led by the Banks & Financial Services and Real Estate indices, gaining 2.0% 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.
QNBFS Daily Market Report August 15, 2021QNB Group
The QE Index rose marginally to close at 10,920.4. Gains were led by the Banks & Financial Services and Transportation indices, gaining 0.7% 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.
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.
QNBFS Daily Market Report August 15, 2021QNB Group
The QE Index rose marginally to close at 10,920.4. Gains were led by the Banks & Financial Services and Transportation indices, gaining 0.7% 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.
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.
QNBFS Daily Market Report October 29, 2019QNB Group
The QE Index declined 0.8% to close at 10,222.2. Losses were led by the Insurance and Banks & Financial Services indices, falling 1.6% and 1.3%, respectively.
QNBFS Daily Market Report August 08, 2021QNB Group
The QE Index rose 0.5% to close at 10,908.1. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.6% and 0.5%, 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.
QNBFS Daily Market Report October 29, 2019QNB Group
The QE Index declined 0.8% to close at 10,222.2. Losses were led by the Insurance and Banks & Financial Services indices, falling 1.6% and 1.3%, respectively.
QNBFS Daily Market Report August 08, 2021QNB Group
The QE Index rose 0.5% to close at 10,908.1. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.6% and 0.5%, respectively.
QNBFS Daily Market Report February 03, 2020QNB Group
The QE Index declined 0.8% to close at 10,362.0. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 3.1% and 0.6%, respectively.
QNBFS Daily Market Report October 12, 2020QNB Group
The QE Index declined 0.3% to close at 10,001.2. Losses were led by the Telecoms and Banks & Financial Services indices, falling 1.0% and 0.8%, respectively.
QNBFS Daily Market Report February 10, 2021QNB Group
The QE Index declined 0.5% to close at 10,445.0. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 0.7% each.
The QE Index rose 0.2% to close at 10,240.7. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 0.8% and 0.5%, respectively.
Similar to QNBFS Daily Market Report April 08, 2018 (20)
QNBFS Daily Technical Trader - Qatar for April 09, 2018 التحليل الفني اليومي ...Aicha El-Mamy
A typical start for the week; no significant change noticed on the Index with significant drop in volumes. We remain positive on the Index especially if the Index breaks above the 8,800 intraday
resistance level.
QNBFS Daily Technical Trader - Qatar for April 08, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index managed to breakout and remain above
the corrective channel (see chart), which is positive. As a result, we expect the Index to continue its uptick as long as it stays above the 8,500 level.
QNBFS Daily Technical Trader - Qatar for April 05, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The market ended yet another session in the red zone and formed a Doji candle. In our assessment, the Index should rise toward the 9,000 mark in the coming sessions.
QNBFS Daily Technical Trader - Qatar for April 04, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The market edged down marginally by 0.08%. However, the Index is gradually moving towards the upper end of the correction channel. Further confirmation is needed through a breakout from this channel towards the 9,000 level.
QNBFS Daily Technical Trader - Qatar for April 03, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index ended another session in the green zone, with the MACD moving towards the zero line. Moreover, the Index sits on the 50SMA, having already crossed the 100SMA and 200SMA support levels.
QNBFS Daily Technical Trader - Qatar for April 01, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index remained inside the corrective channel but created a Doji candlestick, which signifies indecision among market participants. That means these participants are looking for a
direction after the recent weakness. The good news is that the Index sits on the 200SMA, which is a strong support level.
QNBFS Daily Technical Trader - Qatar for March 29, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index moved inside the previously created corrective channel, and this is an alarming situation. The only positive side of the situation is the Index reached the 200SMA, which may act as a
support level. Further decline on the Index inside the channel signals sharper weakness could be unfolding.
QNBFS Daily Technical Trader - Qatar for March 28, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index moved further down but remains above the upper side of the corrective channel. We are a bit concerned because the
MACD indicator is has tilted downwards and remains under the zero line, which means bearish momentum has been in control and may continue further.
QNBFS Daily Technical Trader - Qatar for March 27, 2018 التحليل الفني اليومي ...Aicha El-Mamy
Another day in the red but the general Index remains above the 8,650 points, which is slightly positive. The bulls need to take
control of the situation above or around the mentioned level; sustaining an entry inside the corrective channel means weakness could persist.
QNBFS Daily Technical Trader - Qatar for March 26, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The general Index regressed in the beginning of the week but remains above the upper side of the corrective channel. We expect to see some support around that side which is just above our expected support of the 8,650 mark.
QNBFS Daily Technical Trader - Qatar for March 25, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The market closed down 0.54% from vs the previous session, indicating then weakness has persisted. That been said, the index
remains above the corrective channel seen on the chart, proving the uncertainty seen on the expected direction of the market.
QNBFS Daily Technical Trader - Qatar for March 22, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index is giving us conflicting signals, between a possible correction because it could not break above the 9,000 level and the expected upward motion stemming from a breakout above the
corrective channel. Our assessment remains in favor
of the positive momentum, given that the Index breaks and sustains its level above.
the 9,000 mark.
QNBFS Daily Technical Trader - Qatar for March 21, 2018 التحليل الفني اليومي ...Aicha El-Mamy
Another day in the green and the Index flirted with the 9,000 level (6 points away), which is positive. Traded volumes were higher
and as a result, we expect the Index to move above the mentioned level.
QNBFS Daily Technical Trader - Qatar for March 20, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index managed to close above the corrective channel
which extended since January. The uptick was accompanied with relatively higher volumes and we are becoming more optimistic for the breakout above the 9,000 level.
QNBFS Daily Technical Trader - Qatar for March 19, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index is testing the upper side of the recent correction’s channel; the Index needs to break above it, and preferably above the 9,000 level for the Index to be on the safe side.
QNBFS Daily Technical Trader - Qatar for March 18, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index managed to penetrate above the flag continuation pattern last Thursday; it looks positive over the coming session and in the medium term. That been said, it should cross above the psychological level of 9,000 to be on the safe side.
QNBFS Daily Technical Trader - Qatar for March 15, 2018 التحليل الفني اليومي ...Aicha El-Mamy
As we expected, the Index filled the price gap through a drop in yesterday’s session. The good news is that the Index managed to reduce much of its intraday losses and closed slightly lower. That been said, we remains cautious on the Index until it manages to break above the 9,000 resistance level.
QNBFS Daily Technical Trader - Qatar for March 14, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index gapped up yesterday but could not reach the 9,000 level. It needs to clear the mentioned level; the 50SMA has been
moving around it, it is also needed to confirm the bullish flag formation. The recent gap could be filled before the breakout.
QNBFS Daily Technical Trader - Qatar for March 13, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The strength of yesterday’s move could mark the end of the recent correction. The Index is bouncing off its 200SMA and that is a strong support to depart from. Further confirmation is needed through a breakout above the 9,000 level, which will clear the other moving averages and to confirm a bullish flag formation.
QNBFS Daily Technical Trader - Qatar for March 08, 2018 التحليل الفني اليومي ...Aicha El-Mamy
The Index is reaching the 8,350 level we have expected all along. The current level happens to be just around the 61.8% Fibonacci retracement of the previous bullish move (which took place between last November 2017 and January 2018). The mentioned retracement could add to strength of the support. However, we await a strong reversal signal on the daily chart before we suggest a rally from the current levels.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@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
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.
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.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
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
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.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Latino Buying Power - May 2024 Presentation for Latino Caucus
QNBFS Daily Market Report April 08, 2018
1. Page 1 of 7
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose 1.0% to close at 8,792.9. Gains were led by the Banks & Financial
Services and Real Estate indices, gaining 2.0% and 1.8%, respectively. Top gainers
were Qatar General Insurance & Reinsurance Company and The Commercial Bank,
rising 4.4% and 3.9%, respectively. Among the top losers, Doha Insurance Group fell
3.6%, while Zad Holding Company was down 2.3%.
GCC Commentary
Saudi Arabia: The TASI Index rose 1.0% to close at 7,953.4. Gains were led by the
Energy and Pharma, Biotech & Life Sci. indices, rising 2.6% and 2.3%, respectively.
Saudi International Petro. rose 5.6%, while AXA Cooperative Ins. Co. was up 4.4%.
Dubai: The DFM Index declined 0.3% to close at 3,083.4. The Investment &
Financial Services and banks indices declined 1.0% each. Emirates NBD fell 3.3%,
while Almadina for Finance and Investment Company was down 2.8%.
Abu Dhabi: The ADX benchmark index rose 1.7% to close at 4,688.6. The Banks
index gained 2.8%, while the Energy index rose 1.3%. Al Khaleej Investment Co.
gained 14.9%, while Commercial Bank International was up 13.8%.
Kuwait: The Kuwait Main Market Index declined 0.2% to close at 4,867.9. The
Technology index fell 6.7%, while the Consumer Goods index declined 2.5%. Danah
Alsafat Foodstuff Co. fell 45.3%, while Al Safat Energy Holding was down 18.1%.
Oman: The MSM Index rose 0.1% to close at 4,798.9. Gains were led by the Financial
and Services indices, rising 0.3% and 0.1%, respectively. Bank Sohar rose 2.1%,
while Al Suwadi Power was up 1.5%.
Bahrain: The BHB Index gained marginally to close at 1,282.9. The Hotels &
Tourism index rose 0.7%, while the Commercial Banks index gained 0.1%. Ithmaar
Holding rose 4.8%, while Gulf Hotel Group was up 1.0%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Reins. Co. 46.99 4.4 0.0 (4.1)
The Commercial Bank 32.55 3.9 390.7 12.6
Ezdan Holding Group 10.58 3.2 455.7 (12.4)
Islamic Holding Group 30.00 3.1 9.9 (20.0)
QNB Group 138.00 2.6 144.1 9.5
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Vodafone Qatar 9.26 1.2 3,426.6 15.5
Mesaieed Petrochemical Holding 15.40 2.0 986.4 22.3
Qatar First Bank 6.24 (0.2) 827.8 (4.4)
Mazaya Qatar Real Estate Dev. 7.25 (1.4) 742.6 (19.4)
Barwa Real Estate Company 33.50 (0.2) 601.4 4.7
Market Indicators 05 April 18 04 April 18 %Chg.
Value Traded (QR mn) 286.5 201.1 42.4
Exch. Market Cap. (QR mn) 484,732.0 478,428.5 1.3
Volume (mn) 11.4 11.9 (3.9)
Number of Transactions 3,026 3,169 (4.5)
Companies Traded 44 44 0.0
Market Breadth 29:13 11:33 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 15,492.12 1.0 2.6 8.4 13.1
All Share Index 2,590.78 1.2 2.6 5.6 13.1
Banks 2,920.59 2.0 4.4 8.9 12.3
Industrials 2,953.33 0.4 2.3 12.7 14.8
Transportation 1,765.82 (0.3) (2.3) (0.1) 11.6
Real Estate 1,838.53 1.8 0.3 (4.0) 12.2
Insurance 3,102.60 0.4 (0.0) (10.8) 23.4
Telecoms 1,117.26 0.4 2.4 1.7 30.6
Consumer 5,600.05 0.5 3.7 12.8 12.7
Al Rayan Islamic Index 3,596.47 0.7 1.3 5.1 14.7
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
DP World Dubai 22.90 6.5 411.9 (8.4)
Saudi Int. Petrochemical Saudi Arabia 22.94 5.6 2,923.9 31.5
Co. for Cooperative Ins. Saudi Arabia 82.58 3.9 1,242.3 (12.5)
The Commercial Bank Qatar 32.55 3.9 390.7 12.6
First Abu Dhabi Bank Abu Dhabi 12.40 3.8 5,014.3 21.0
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Ahli United Bank Kuwait 0.29 (4.3) 252.9 (16.6)
Emirates NBD Dubai 10.30 (3.3) 490.8 25.6
Banque Saudi Fransi Saudi Arabia 29.04 (2.4) 452.6 1.5
Union National Bank Abu Dhabi 3.62 (2.2) 132.3 (4.7)
Dubai Financial Market Dubai 1.02 (1.9) 4,384.2 (8.9)
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC
Composite Large Mid Cap Index)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Doha Insurance Group 12.43 (3.6) 9.1 (11.2)
Zad Holding Company 84.00 (2.3) 13.9 14.1
Qatar Navigation 53.32 (1.7) 158.8 (4.7)
Mazaya Qatar Real Estate Dev. 7.25 (1.4) 742.6 (19.4)
Qatari German Co. for Med. Dev. 5.80 (0.9) 56.6 (10.2)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 109.10 0.1 61,162.7 12.5
Vodafone Qatar 9.26 1.2 31,694.8 15.5
Barwa Real Estate Company 33.50 (0.2) 20,215.0 4.7
QNB Group 138.00 2.6 19,625.6 9.5
Mesaieed Petrochemical Holding 15.40 2.0 15,090.2 22.3
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* 8,792.91 1.0 2.6 2.6 3.2 78.57 133,155.9 13.1 1.3 5.0
Dubai 3,083.37 (0.3) (0.8) (0.8) (8.5) 68.72 104,849.5 10.9 1.1 5.9
Abu Dhabi 4,688.57 1.7 2.2 2.2 6.6 36.00 129,409.0 12.0 1.3 5.1
Saudi Arabia 7,953.36 1.0 1.0 1.0 10.1 1,481.80 501,945.3 17.4 1.7 3.3
Kuwait 4,867.87 (0.2) (2.6) (2.6) N/A N/A N/A N/A N/A N/A
Oman 4,798.90 0.1 0.5 0.5 (5.9) 7.32 20,128.7 12.3 1.0 5.0
Bahrain 1,282.89 0.0 (2.7) (2.7) (3.7) 1.34 19,446.6 8.7 0.8 6.4
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
8,650
8,700
8,750
8,800
8,850
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
2. Page 2 of 7
Qatar Market Commentary
The QSE Index rose 1.0% to close at 8,792.9. The Banks & Financial
Services and Real Estate indices led the gains. The index rose on the
back of buying support from GCC and non-Qatari shareholders despite
selling pressure from Qatari shareholders.
Qatar General Insurance & Reinsurance Company and The Commercial
Bank were the top gainers, rising 4.4% and 3.9%, respectively. Among
the top losers, Doha Insurance Group fell 3.6%, while Zad Holding
Company was down 2.3%.
Volume of shares traded on Thursday fell by 3.9% to 11.4mn from
11.9mn on Wednesday. Further, as compared to the 30-day moving
average of 12.2mn, volume for the day was 6.2% lower. Vodafone Qatar
and Mesaieed Petrochemical Holding Company were the most active
stocks, contributing 30.1% and 8.7% to the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Ratings, Earnings Releases, Global Economic Data and Earnings Calendar
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Ahli Bank Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bbb-/A/1 A/F1/bbb-/A/1 – Negative –
Al Khalij
Commercial Bank
Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bb+/A/1 A/F1/bb/A/1 Negative –
Barwa Bank Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bb+/A/1 A/F1/bb+/A/1 – Negative –
QNB Group Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A+/F1/bbb+/
A+/1
A+/F1/bbb+/
A+/1
– Negative –
The Commercial
Bank
Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bbb-/A/1 A/F1/bbb-/A/1 – Negative –
Doha Bank Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bbb-/A/1 A/F1/bb+/A/1 Negative –
Qatar Islamic
Bank
Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bbb-/A/1 A/F1/bbb-/A/1 – Negative –
Qatar
International
Islamic Bank
Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bb+/A/1 A/F1/bb+/A/1 – Negative –
International
Bank of Qatar
Fitch Qatar
LT-IDR/ST-
IDR/VR/SRF/SR
A/F1/bb+/A/1 A/F1/bb+/A/1 – Negative –
National Bank of
Bahrain
CI Bahrain FLT BB+ BB – –
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, VR – Viability Rating, FLT – Foreign Long Term, Support Rating Floor – SRF)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
04/05 US Department of Labor Initial Jobless Claims 31- March 242k 225k 218k
04/05 US Department of Labor Continuing Claims 24-March 1,808k 1,843k 1,872k
04/05 US US Census Bureau Trade Balance February -$57.6bn -$56.8bn -$56.7bn
04/05 EC Eurostat PPI MoM February 0.1% 0.0% 0.4%
04/05 EC Eurostat PPI YoY February 1.6% 1.5% 1.6%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Earnings Calendar
Tickers Company Name Date of reporting 1Q2018 results No. of days remaining Status
QNBK QNB Group 10-Apr-18 2 Due
NLCS Alijarah Holding 12-Apr-18 4 Due
QIBK Qatar Islamic Bank 15-Apr-18 7 Due
QISI Qatar Islamic Insurance Company 16-Apr-18 8 Due
MCGS Medicare Group 16-Apr-18 8 Due
GWCS Gulf Warehousing Company 16-Apr-18 8 Due
MARK Masraf Al Rayan 16-Apr-18 8 Due
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 41.91% 37.34% 13,092,352.85
Qatari Institutions 14.78% 28.51% (39,333,653.90)
Qatari 56.69% 65.85% (26,241,301.05)
GCC Individuals 0.61% 0.48% 372,532.13
GCC Institutions 3.16% 0.58% 7,375,672.09
GCC 3.77% 1.06% 7,748,204.22
Non-Qatari Individuals 9.29% 8.44% 2,451,130.21
Non-Qatari Institutions 30.25% 24.65% 16,041,966.62
Non-Qatari 39.54% 33.09% 18,493,096.83
3. Page 3 of 7
CBQK The Commercial Bank 17-Apr-18 9 Due
QNCD Qatar National Cement Company 18-Apr-18 10 Due
QEWS Qatar Electricity & Water Company 18-Apr-18 10 Due
DOHI Doha Insurance Group 18-Apr-18 10 Due
KCBK Al Khalij Commercial Bank 19-Apr-18 11 Due
ABQK Ahli Bank 19-Apr-18 11 Due
DHBK Doha Bank 22-Apr-18 14 Due
SIIS Salam International Investment Limited 23-Apr-18 15 Due
QIMD Qatar Industrial Manufacturing Company 25-Apr-18 17 Due
ORDS Ooredoo 25-Apr-18 17 Due
UDCD United Development Company 25-Apr-18 17 Due
AKHI Al Khaleej Takaful Insurance Company 29-Apr-18 21 Due
QFLS Qatar Fuel Company 29-Apr-18 21 Due
Source: QSE
News
Qatar
QCB sells QR1bn worth of Treasury bills – Qatar Central Bank
(QCB) sold QR1bn of Treasury bills this week, according to the
banking regulators. It sold QR550mn of three-month bills at a
yield of 2.65%, QR300mn of six month bills with 2.8% yield, and
QR150mn of nine month bills at 3%. (Peninsula Qatar)
Qatar Industrial Manufacturing Company to disclose its 1Q2018
financial results on April 25 – Qatar Industrial Manufacturing
Company announced its intention to disclose its 1Q2018
financial results on April 25, 2018. (QSE)
The Commercial Bank hosts NBO investor roadshow in Doha –
The Commercial Bank recently hosted a high-level delegation
from the National Bank of Oman (NBO) for a roadshow
attended by Qatari businessmen, including the bank’s VIP
clients. The Commercial Bank has a strategic alliance with
NBO, Oman’s second largest bank, and holds a 34.9% stake in it.
The purpose of the roadshow was to promote NBO’s capabilities
and services to the Commercial Bank customers with existing
and potential business interests in Oman. For the businessmen
in attendance, the roadshow served as an opportunity for The
Commercial Bank to present its credentials and explore
potential investment opportunities in Qatar. (Gulf-Times.com)
Fitch & Capital Intelligence affirm QIIK’s ratings at ‘A’ –
Ratings agencies Fitch and Capital Intelligence affirmed Qatar
International Islamic Bank’s (QIIK) ratings at ‘A’, reflecting the
bank’s strong financial position. Fitch based QIIK’s Long-Term
Issuer Default Rating (IDR) at ‘A’ reflect Fitch’s expectation of
an extremely high probability of support from the government’s
in case of need, in comparison to previous cases, where the
government has shown strong commitment to the banking
sector and key public sector companies, especially as the state
is able to support the banking sector backed by its large
sovereign reserves and revenues. Fitch noted that QIIK has a
stake in the local Islamic banking segment, reaching 13% by
the end of 2017 and a considerable strength, especially in the
retail segment. The bank is looking to eventually expand its
franchise internationally and recently established a bank in
Morocco In addition, the bank maintains a strong capital
adequacy ratio at 17.9% and Liquid assets accounted for a high
28% of deposits at end-2017. Capital Intelligence stated that it
has based QIIK’s financing strength rating (FSR) rating on the
strength of capital adequacy and the healthy growth of the
bank’s profits, which confirms its firm position that can be
strengthened at the medium term with the opening of a bank by
QIIK in Morocco. The CI agency confirmed that “the rating is
also based on the fact that the QIIK funding was largely from
domestic sources; direct impacts from the blockade were
minimal, especially in view of the strong liquidity support from
the government for the sector as a whole”. (Peninsula Qatar)
QNB Group: Qatar’s GDP forecasts revised up for 2018 – Qatar’s
overall real GDP growth will exceed 2.8% this year from the
earlier forecast of 2.5%, QNB Group stated in an economic
commentary. QNB Group stated it was revising up its Qatar’s
GDP growth forecasts for three main reasons. First, QNB Group
recently raised its forecast for oil prices from $55 a barrel to $63
a barrel, which will lead to higher incomes and spending in the
non-hydrocarbon sector. Second, it now expects a sharper
rebound in hydrocarbon output as maintenance on LNG
production facilities appears to have been dragged out in 2017,
but should now be completed. Third, the economic impact of the
blockade has been less than expected and QNB Group has,
therefore, reduced the expected drag from the blockade on 2018
GDP. As a result, QNB Group is now forecasting overall real GDP
growth of 2.8% in 2018 from 2.5% previously. According to
QNB Group, Qatar’s GDP growth in 4Q2017 was held back by
the hydrocarbon sector. The latest data showed an unexpected
drop of 6.4% in hydrocarbon production in 4Q2017 from the
previous quarter. Given that crude oil production increased by
3.2% over this period, the drop in hydrocarbon GDP must be due
to gas production, most likely as a consequence of temporary
shutdowns for routine maintenance on LNG facilities. For the
full year 2017, overall real GDP growth was 1.6% with the non-
hydrocarbon sector growing 4.2% and the hydrocarbon sector
contracting 1.1%. Lower oil and gas output in 2017 was due to
both lower crude oil production and maintenance on LNG
facilities. (Gulf-Times.com)
Umm Al Houl power plant 99% complete – The Prime Minister
and Minister of Interior, HE Sheikh Abdullah Bin Nasser Bin
Khalifa Al Thani visited the under-construction Umm Al Houl
Power Plant of the Qatar Electricity and Water Company
(QEWS). The plant is set to be officially opened soon. At the end
of the visit, Sheikh Abdullah Bin Nasser praised the
achievements made in the huge project, whose operation
4. Page 4 of 7
depends on highly efficient and skilled Qatari engineers and
technicians, and lauded the company’s Qatarisation efforts.
Umm Al Houl Power Plant is one of the largest desalination and
power generation plants in the region. Built at a cost of QR11bn,
the plant would have a daily production capacity of 136mn
gallons of water and 2,520MW of electricity. Once completed,
Umm Al Houl Power Plant will provide 25% of Qatar’s
electricity and 30% of water needs. The project has the
participation of QEWS (60%), Qatar Petroleum (5%), Qatar
Foundation (5%), and a consortium of Japanese companies
Mitsubishi Corporation and Tepco (30%). (Gulf-Times.com)
International trade and investment key to Qatar’s future
growth – The Minister of Economy and Commerce, HE Sheikh
Ahmed Bin Jassim Bin Mohamed Al Thani said international
trade and investment are a key part of Qatar’s future growth
and economic diversification policy. The US was the primary
source of the Qatari imports in 2017, he said in his opening
address to the Qatar-US Economic Forum in Miami. He said
Qatar imported 16% of its imports from the US. He noted that
over the past ten years, trade between the two countries has
doubled from $3bn to $6bn. Sheikh Ahmed noted the role of the
Qatar Investment Authority, which has allocated $45bn of
investments between 2015 and 2020, of which $10bn will be
directed to invest in the infrastructure sector in the US. He
noted that these investments constitute 23% of Qatar’s GDP.
(Gulf-Times.com)
Qatar, Miami explore cooperation in aviation and maritime
growth – Qatar and the US county of Miami are exploring
options for joint cooperation in the fields of aviation and
maritime as part of efforts to strengthen the bilateral economic
and business relations between Qatar and the US. In this
regard, Qatar’s Minister of Economy and Commerce, HE Sheikh
Ahmed Bin Jassim Bin Mohamed Al Thani met Lester Sola,
Director and CEO, of the Miami-Dade Aviation Department, and
Juan Kuryla, Director of the Port of Miami. The Miami
International Airport has about 44mn passenger’s count
annually and Qatar Airways operates to Miami with its
passengers or cargo flights. Sheikh Ahmed noted that the city
of Miami is one of the most important tourist destinations for
Qatari tourists in the US. Expressing Qatar’s keenness to
develop maritime tourism, he said Doha Port receives a number
of the largest cruise ships. (Gulf-Times.com)
Qatar Chamber discusses trade ties with Iranian delegation –
Qatar Chamber met with an Iranian business delegation
currently visiting Qatar, led by Fars Governorate General for
coordination economic affairs and resources development
Yadollah Rahmani, with both parties discussing the aspects of
promoting mutual cooperation and ways to benefit from trade
opportunities in both countries. Qatar Chamber’s Vice
Chairman, Mohamed Bin Ahmed Bin Tawar said the trade
relations between the private sectors in both countries have
witnessed great development recently. He added that there is a
desire from both sides to promote mutual cooperation which
benefits the economies of both countries. The Vice Chairman
said there are promising opportunities in the business sectors of
both countries to expand effective partnerships and launch new
economic alliances in all sectors. He said that the proximity
between both countries helped develop their trade together and
the development of the sea ports in both countries contributed
to the flow of goods and products between them. (Gulf-
Times.com)
Total 2.7% rise in number of on-arrival visas in February – The
total number of on-arrival-visas granted to citizens from 90
countries reached 72,110 in February this year, which is an
increase of 2.7% when compared to January 2108. The majority
of visitors were from India, the UK, the US, France, Lebanon
and China according to the Ministry of Interior. The increase of
the number of tourists indicates the status of Qatar in the world
and also reflects the good services being provided by Qatar in
terms of security and stability, economic status which attract
tourists. (Peninsula Qatar)
International
US job gains smallest in six months, wage growth firming – The
US economy created the fewest jobs in six months in March as a
boost from milder temperatures faded, but a pickup in wage
gains pointed to a tightening labor market, which should allow
the Federal Reserve to further raise interest rates this year.
Nonfarm payrolls increased by 103,000 last month, with
construction and retail sectors shedding jobs, the Labor
Department said. That was the smallest gain since last
September and followed a 326,000 increase in February, which
was the largest in more than two years. Temperatures returned
to normal in March, with snowstorms in some parts of the
country. The pullback in job gains is likely temporary as layoffs
are at historic lows and other independent labor market
indicators were strong in March. Employment gains averaged
202,000 jobs per month in the first quarter, highlighting
underlying labor market strength. The economy needs to create
roughly 100,000 jobs per month to keep up with growth in the
working-age population. The unemployment rate held steady at
4.1% for a sixth straight month. Economists polled by Reuters
had forecast the economy adding 193,000 jobs in March and the
unemployment rate dropping to 4.0%. (Reuters)
US trade deficit rises to near nine-and-a-half-year high in
February – The US trade deficit increased to a near 9-1/2-year
high in February, with both imports and exports rising to record
highs in a sign of strong domestic and global demand. News on
April 05, of the worsening trade deficit came as the US and
China were embroiled in tit-for-tat tariffs which escalated trade
war fears and rattled financial markets. President Donald
Trump’s administration is pursuing import duties to eradicate
the deficit and protect domestic industries from what he says is
unfair foreign competition. But economists say the trade
penalties will not reverse the deficit. The Commerce
Department said the trade gap increased 1.6% to $57.6 bn in
February, the highest level since October 2008. The deficit has
now increased for six straight months. Most of the rise in the
trade deficit in February reflected commodity price increases.
Economists polled by Reuters had forecast the trade gap
widening to $56.8bn in February. The goods trade deficit was
the highest since July 2008 and the surplus on services was the
lowest since December 2012. (Reuters)
UK productivity picks up strongly in second half of 2017 –
Britain recorded its strongest productivity growth in more than
a decade in the second half of 2017, helped by a strong fourth
quarter, but economists said the improvement was unlikely to
5. Page 5 of 7
prove a turning point for one of the economy’s key weak spots.
Productivity growth in most advanced economies has been poor
since the 2008 financial crisis and in Britain it has been
particularly weak, growing by less than 2% in total over the
past decade and acting as a major drags on wages. Figures from
the Office for National Statistics show a marked improvement
from the previous trend. Economic output per hour worked rose
by 0.7% in the fourth quarter of 2017, above its long-run
average though a shade less than first estimated in February.
Third-quarter productivity growth was revised up slightly to
1.0%. Together the two quarters show the strongest growth
since the second half of 2005. (Reuters)
Eurozone February retail sales muted as non-food purchases cut
– Eurozone sales increased at a slower rate than expected in
February as shoppers cut back on non-food purchases and
figures for January were revised down, indicating a slowdown
of business in the bloc’s high streets at the start of the year. The
European Union’s statistics office Eurostat said on Thursday
that retail sales in the 19 countries sharing the euro rose by just
0.1% month-on-month for a 1.8% YoY increase. Economists
polled by Reuters had expected a 0.5% monthly rise and a 2.1%
annual gain. Eurostat also cut its figures for January to -0.3% on
the month and to 1.5% YoY from the previous estimates of -0.1
and 2.3% respectively. Food, drink and tobacco sales grew after
a month-on-month contraction and YoY stagnation in January.
Sales of pharmaceutical and medical goods and of automotive
fuel rose during February after declines in January, but other
non-food products either rose by less than in January or fell.
These included clothing, electrical goods and furniture,
computer equipment and books as well as mail order and
internet sales. (Reuters)
German industrial output slumps as protectionism angst grows
– German industrial output fell by the most in more than two
years in February and the sector is losing momentum, the
Economy Ministry said, as factories in Europe’s largest
economy throttle back in the face of the rising threat of
protectionism. Output fell by 1.6% after rising by a revised 0.1%
in January, data from the Economy Ministry showed.
February’s drop was the biggest since August 2015 and
compared with a Reuters consensus forecast for a rise of 0.3%.
A breakdown of the data showed a big slump in the production
of capital goods, down 3.1% on the month, with output of
consumer goods falling 1.5% and intermediate goods down
0.7%. Construction activity was also weaker overall. UniCredit
economist Andreas Rees said the weakness across industries
suggested a wave of flu might have hit production. The
ministry said industry was losing some of its drive. (Reuters)
Japan’s long growth run faces turning point as wages, spending
fall – Japan’s longest run of economic expansion since the 1980s
asset bubble may be entering a turning point, with data out on
Friday suggesting consumption will fail to drive growth if trade
frictions undermine exports. Household spending shrank 0.9%
in February from a year earlier, the biggest drop since a 1.4%
fall in April last year, while inflation-adjusted real wages fell for
a third straight month in February, undercutting consumer
buying power. A slowdown in consumption would be an
additional headache for Japanese policymakers, who fret the
yen’s recent rises and fears of a trade war hurt the export-
reliant economy. (Reuters)
Regional
IATA: Middle East carriers’ YoY freight volumes increase 7.4%
in February – Middle Eastern carriers’ YoY freight volumes
increased 7.4% and capacity increased 7.6% in February, the
International Air Transport Association (IATA) noted in a
report. Seasonally adjusted freight volumes continue to trend
upwards, however, they have slowed to an annualized rate of
4% since late 2017, IATA stated. This largely reflects the weak
conditions on the Middle Eastern routes to and from Europe,
which have seen demand trend downwards at a double-digit
rate over the past five months. (Gulf-Times.com)
Qatar says too early to exit OPEC oil cuts as investment still
low – OPEC and its allies should maintain oil supply curbs to
guarantee healthy price levels which will allow increased
investment in the industry and help avoid a big supply and
price shock in the long run, Qatar’s Energy Minister Mohammed
Al-Sada said. He also supported the idea of creating a
permanent platform for OPEC’s cooperation with Russia even
after the current round of joint oil supply cuts ends. “There is a
clear recovery in oil prices. But it has not been met with an
increase in investments. Investment has been very low. My
concern is that medium- to long-term demand is met
comfortably. Investors are still cautious and over-
conservative,” Sada said. (Zawya)
BCG: GCC banks report 6% profit growth in 2017 – Lower loan
loss provisions (LLPs) and better cost management helped
mitigate the slowdown in revenues as the GCC banks reported a
6% profit growth in 2017, according to the Boston Consulting
Group (BCG). The BCG found that the GCC banks’ revenues
grew by 2.3%, down about three percentage points compared to
2016. Reinhold Leichtfuss, Senior Partner and Managing
Director at BCG’s Middle East office said, “GCC banks are
adapting well to a slowing revenue growth regime and profits
climbed more than twice as strong through reduced loan loss
provisions as well as tight cost management.” The study
revealed that the GCC banking industry’s slowdown in
revenues in 2017 was largely on account of major customer
segments such as retail and corporate banking. This implies a
significant decline in revenue growth rates for four years in a
row in most countries. (Gulf-Times.com)
Saudi Arabia attracts firms to increase foreign direct
investment – Saudi Arabia is attracting a fresh wave of office
openings from firms seeking to tap into an increase in foreign
direct investment (FDI). Analysis by Arab News reveals that
Saudi Arabia is already reaping dividends from Vision 2030
reforms that have opened the country to foreign enterprises
and investors, boosting employment for Saudi Arabians and
reducing dependence on crude. In a recent deal, Salini Impregilo
clinched a $1.3bn contract with the Saudi Arabia National
Guard to deliver much-needed housing and urban planning
services East of Riyadh. Farouk Soussa, Head of Middle East
economics at Citigroup in London, said that key aim of the
Saudi Arabian diversification policy was to attract foreign
direct investment to bolster investment in the non-oil sector.
(GulfBase.com)
6. Page 6 of 7
CBUAE’s gold reserves to rise to 9mn tons – A report by the
Ministry of Economy predicted that the gold reserves of Central
Bank of the UAE (CBUAE) will increase to 9mn tons in 2018, a
growth of 19.5%, compared to 7.53% in 2017. The majority of
Central Bank’s holdings are usually in various foreign
currencies, as they can be used for trading, including for selling
and purchasing. The central bank sold all its gold before 2015,
but it began to re-constitute its gold reserves during the same
year, as well as its basket of foreign currencies, including the
US Dollars. (GulfBase.com)
Dubai’s house prices, rents drop in 1Q2018 – Dubai’s residential
property market continued to soften in 1Q2018, in line with
analysts’ forecasts, with rental values recording a more
pronounced fall than sales prices. “Upcoming supply will
continue to impact occupancy levels in existing stock, thus
putting further pressure on rents. Housing allowances for many
expats are being realigned in line with changing business
activity and hence their appetite for higher ticket properties
remains low,” said Manika Dhama, senior consultant at
Cavendish Maxwell. The UAE property market has slowed in
recent years on the back of a three-year oil slump that has
caused job losses, crimped purchasing power, dampened
demand and subsequently pushed sales and rental prices of
residential units lower. Analysts predict the market will
continue to decline, at a slower rate, for much of 2018 before
bottoming out later this year. (GulfBase.com)
OMV to invest in UAE’s offshore oilfields in $1.5bn deal with
ADNOC – Austrian oil and gas group OMV stated that it will
take a 20% interest in two oilfields off the United Arab Emirates
under a $1.5bn deal agreed with Abu Dhabi National Oil
Company (ADNOC). ADNOC is awarding new concessions to
foreign investors in a bid to gain access to technology and
funding and to secure buyers for its crude. (Reuters)
Kuwait reforms lauded for unlocking next level of market –
Changes to Kuwait’s equities market are taking the stock
exchange to the next level, according to one of the country’s
biggest investors. The Gulf nation this week activated the
latest round of a market shake-up aimed at attracting investors
and initial public offerings. While Kuwait’s new benchmark
index has fallen each day since its April 1 debut and is set for a
loss of 4% in the past four sessions, the stocks look attractive in
the medium- to long-term, said Husayn Shahrur, Managing
Director for Middle East and North Africa at NBK Capital. That’s
because the country’s economic fundamentals are stronger
than its neighbors’, he said. (Gulf-Times.com)
Kuwait registers current account surplus for 4Q2017 – Central
Bank of Kuwait (CBK) published the preliminary data of the
Balance of Payments (BOP) of the State of Kuwait for 4Q2017
and the revised data of 3Q2017. The data shows that the
Current Account (summing up receipts and payments between
domestic economy and other economies in terms of goods,
services and income) recorded a surplus of KD1,108mn against
a surplus of KD488mn during the comparative period,
representing a hike of KD620mn or 127.1%. The upturn in the
current account surplus is due to the appreciation in the surplus
of balance on goods and the depreciation in the surplus of
primary income on one hand, and the contraction in the
services account deficit and the increase in the secondary
income deficit on the other. (GulfBase.com)
CBO: New foreign investment law to boost capital inflows –
Oman’s Foreign Capital Investment Law, currently the subject
of a comprehensive revamp, will help enhance inflows of
foreign investment, thereby helping fuel the nation’s economic
growth, according to Central Bank of Oman (CBO). The CBO
stated that the new law aims to, among other objectives,
address major concerns regarding foreign investors’ rights and
obligations. “The proposed investment law also provides
dispute resolution and includes international arbitration. The
open nature of the Omani economy allows remittances of
equity, debt, capital, interest, dividends, profits and personal
savings abroad,” a CBO report noted. (GulfBase.com)
Omantel sets up investor roadshow for potential Dollar bond
issue – Oman Telecommunications (Omantel) will start meeting
investors ahead of a potential US Dollar bond, the company
stated. Citi and Credit Suisse have been hired as global
coordinators for the potential deal, alongside Bank ABC, Bank
Muscat, HSBC and Standard Chartered Bank as joint lead
managers to organize fixed income investor meetings in Dubai,
London, New York and Boston, the company stated.
(GulfBase.com)
Bapco approaches banks for multibillion refinery expansion –
Bahrain Petroleum Company (Bapco) approached banks to
sound their appetite for the financing needed to back the
capacity expansion of the existing Sitra oil refinery, a project
expected to cost well in excess of $5bn, sources said. The
company, advised by BNP Paribas and HSBC, has sent a teaser
to commercial banks for a loan likely to be over $1bn. The rest
of the project cost will be covered with equity coming from the
company, expected to exceed $1bn, and with debt facilities
backed by export credit agencies (ECAs), of at least $3bn.
(GulfBase.com)
7. Contacts
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
Mohamed Abo Daff QNB Financial Services Co. W.L.L.
Senior Research Analyst Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6589 PO Box 24025
mohd.abodaff@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNBFS is
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Page 7 of 7
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg (
#
Market closed on April 6, 2018) Source: Bloomberg (*$ adjusted returns;
#
Market closed on April 6, 2018)
60.0
80.0
100.0
120.0
140.0
160.0
Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
QSE Index S&P Pan Arab S&P GCC
1.0% 1.0%
(0.2%)
0.0% 0.1%
1.7%
(0.3%)(0.5%)
0.0%
0.5%
1.0%
1.5%
2.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,333.65 0.5 0.7 2.3 MSCI World Index 2,052.78 (1.3) (0.7) (2.4)
Silver/Ounce 16.39 (0.0) 0.1 (3.3) DJ Industrial 23,932.76 (2.3) (0.7) (3.2)
Crude Oil (Brent)/Barrel (FM Future) 67.11 (1.8) (4.5) 0.4 S&P 500 2,604.47 (2.2) (1.4) (2.6)
Crude Oil (WTI)/Barrel (FM Future) 62.06 (2.3) (4.4) 2.7 NASDAQ 100 6,915.11 (2.3) (2.1) 0.2
Natural Gas (Henry Hub)/MMBtu 2.82 0.4 0.4 (8.7) STOXX 600 374.82 (0.0) 0.9 (1.7)
LPG Propane (Arab Gulf)/Ton 74.50 (0.3) (6.9) (23.8) DAX 12,241.27 (0.2) 1.1 (3.2)
LPG Butane (Arab Gulf)/Ton 76.00 0.7 (2.3) (28.1) FTSE 100 7,183.64 0.5 2.3 (2.7)
Euro 1.23 0.3 (0.3) 2.3 CAC 40 5,258.24 (0.0) 1.6 1.1
Yen 106.93 (0.4) 0.6 (5.1) Nikkei 21,567.52 (0.1) (0.3) (0.4)
GBP 1.41 0.6 0.5 4.3 MSCI EM 1,161.97 (0.4) (0.8) 0.3
CHF 1.04 0.4 (0.6) 1.6 SHANGHAI SE Composite#
3,131.11 0.0 (1.6) (2.4)
AUD#
0.77 0.0 0.1 (1.6) HANG SENG 29,844.94 1.1 (0.8) (0.7)
USD Index 90.11 (0.4) 0.1 (2.2) BSE SENSEX 33,626.97 (0.0) 2.3 (2.9)
RUB 58.17 0.8 1.8 0.9 Bovespa 84,820.42 (1.6) (2.5) 9.0
BRL 0.30 (0.8) (1.9) (1.7) RTS 1,236.48 (1.4) (1.0) 7.1
85.3
86.08
6.0
84.7
74.7