The QSE Index rose marginally to close at 10,157.4, led by gains in the Telecom and Consumer Goods & Services indices. Gulf Warehousing Co. and Doha Insurance Co. were the top gainers while Qatar Cinema & Film Distribution Co. and Qatar German Co. for Medical Devices declined the most. Trading volume increased 45.3% compared to the previous day. Among other regional exchanges, Saudi Arabia's TASI Index fell 0.9% while Dubai's DFM Index gained 0.1% and Abu Dhabi's ADX benchmark rose 0.7%.
The QE Index in Qatar rose 0.5% led by gains in the telecom and transportation indices. Vodafone Qatar and Dlala Brokerage rose the most while Qatar Cinema fell the most. Trading volume fell 10.3% compared to the previous day. In other markets, indices were mixed with Saudi Arabia falling but gains in Dubai, Abu Dhabi, and Kuwait. Earnings news included results from Salama Cooperative, Gulf Navigation Holding, and Drake & Scull International. Industries Qatar plans $1.7 billion in capex for its petrochemical segment over five years.
QNBFS Daily Market Report October 25, 2021QNB Group
The QE Index in Qatar declined 0.4% led by losses in the Industrials and Banks & Financial Services indices. Mannai Corporation and Industries Qatar were the top losers. In other GCC markets, indexes in Saudi Arabia and Kuwait gained while those in Dubai, Abu Dhabi, Oman and Bahrain gained. Earnings reports from Saudi Kayan Petrochemical and Dr. Sulaiman Al Habib showed increases in revenue and profits. The Commercial Bank of Qatar reported a net profit rise of 217.8% year-over-year to QR804.6mn, beating estimates.
QNBFS Daily Market Report February 22, 2017QNB Group
The QSE Index rose 0.2% led by gains in the Insurance and Consumer Goods & Services indices. Qatar General Insurance and Al Meera Consumer Goods were the top gainers rising 6.2% and 5.3% respectively. The GCC markets were mostly lower with Saudi Arabia down 0.2% and Dubai down 1.2%. Regional indices were mixed with Qatar up 0.2% and Abu Dhabi up 0.6% while the rest were lower or flat.
The QE index in Qatar declined slightly by 0.1% led by losses in the insurance and industrial indices. Top losers were Qatar Cinema & Film Dist. Co. and Qatar Electricity & Water Co. which fell by 1.8% and 1.0% respectively. Trading activity increased compared to the previous day but remained below the 30-day average. Regional indices were mixed with Saudi Arabia and Dubai rising while Bahrain declined. News items highlighted Qatar's growing trade surplus in August driven by LNG exports, a directive to support Qatar Airways, and mixed quarterly earnings results from various Qatari companies.
QNBFS Daily Market Report October 19, 2021QNB Group
The QE Index declined 0.1% to close at 11,743.4. Losses were led by the Industrials and Banks & Financial Services indices, falling 0.5% and 0.1%, respectively.
QNBFS Daily Market Report October 20, 2021QNB Group
The QE Index rose 0.2% to close at 11,767.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.4% each.
QNBFS Daily Market Report October 17, 2021QNB Group
The QE Index rose 0.5% to close at 11,663.6. Gains were led by the Industrials and Banks & Financial Services indices, gaining 0.9% and 0.6%, respectively.
The QE Index in Qatar rose 0.5% led by gains in the telecom and transportation indices. Vodafone Qatar and Dlala Brokerage rose the most while Qatar Cinema fell the most. Trading volume fell 10.3% compared to the previous day. In other markets, indices were mixed with Saudi Arabia falling but gains in Dubai, Abu Dhabi, and Kuwait. Earnings news included results from Salama Cooperative, Gulf Navigation Holding, and Drake & Scull International. Industries Qatar plans $1.7 billion in capex for its petrochemical segment over five years.
QNBFS Daily Market Report October 25, 2021QNB Group
The QE Index in Qatar declined 0.4% led by losses in the Industrials and Banks & Financial Services indices. Mannai Corporation and Industries Qatar were the top losers. In other GCC markets, indexes in Saudi Arabia and Kuwait gained while those in Dubai, Abu Dhabi, Oman and Bahrain gained. Earnings reports from Saudi Kayan Petrochemical and Dr. Sulaiman Al Habib showed increases in revenue and profits. The Commercial Bank of Qatar reported a net profit rise of 217.8% year-over-year to QR804.6mn, beating estimates.
QNBFS Daily Market Report February 22, 2017QNB Group
The QSE Index rose 0.2% led by gains in the Insurance and Consumer Goods & Services indices. Qatar General Insurance and Al Meera Consumer Goods were the top gainers rising 6.2% and 5.3% respectively. The GCC markets were mostly lower with Saudi Arabia down 0.2% and Dubai down 1.2%. Regional indices were mixed with Qatar up 0.2% and Abu Dhabi up 0.6% while the rest were lower or flat.
The QE index in Qatar declined slightly by 0.1% led by losses in the insurance and industrial indices. Top losers were Qatar Cinema & Film Dist. Co. and Qatar Electricity & Water Co. which fell by 1.8% and 1.0% respectively. Trading activity increased compared to the previous day but remained below the 30-day average. Regional indices were mixed with Saudi Arabia and Dubai rising while Bahrain declined. News items highlighted Qatar's growing trade surplus in August driven by LNG exports, a directive to support Qatar Airways, and mixed quarterly earnings results from various Qatari companies.
QNBFS Daily Market Report October 19, 2021QNB Group
The QE Index declined 0.1% to close at 11,743.4. Losses were led by the Industrials and Banks & Financial Services indices, falling 0.5% and 0.1%, respectively.
QNBFS Daily Market Report October 20, 2021QNB Group
The QE Index rose 0.2% to close at 11,767.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.4% each.
QNBFS Daily Market Report October 17, 2021QNB Group
The QE Index rose 0.5% to close at 11,663.6. Gains were led by the Industrials and Banks & Financial Services indices, gaining 0.9% and 0.6%, respectively.
The QE Index rose 0.8% to close at 10,584.2. Gains were led by the Insurance and Banks & Financial Services indices, gaining 2.9% and 1.1%, respectively.
The document summarizes daily market activity in Qatar and other GCC countries. On the Qatari market, the QE Index rose 0.4% as the Real Estate and Consumer Goods & Services indices increased. Investment Holding Group and Ezdan Holding Group were the top gainers. Saudi markets declined marginally overall while Dubai and Abu Dhabi gained. Earnings reports are expected soon from several Qatari banks and companies. Global economic data showed initial US jobless claims rose slightly while Chinese CPI and PPI increased more than expected year-over-year.
QNBFS Daily Market Report August 12, 2021QNB Group
The QE Index rose marginally to close at 10,916.1. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 0.8% and 0.5%, respectively.
- The QSE Index in Qatar declined 2.5% led by losses in the Telecom and Insurance indices. Islamic Holding Group and Gulf Warehousing Co. were the top losers.
- Regional indices were mixed with Saudi Arabia up 0.3% while Dubai fell 3.2% and Abu Dhabi declined 1.4%.
- In Qatar news, Doha Bank imported a record amount of gold to meet demand, QPMC signed a supply deal with Oryx for 2 million tons of quarry products, and Ooredoo Maldives won an ISP license. Vodafone Qatar also boosted its network in Al Wakrah and Al Wukair.
The QSE Index in Qatar rose 0.2% led by gains in the real estate and telecom indices. Zad Holding and Barwa Real Estate were the top gainers rising 2.8% and 2.5% respectively. Trading volume fell 7.6% compared to the previous day. In other GCC countries, indices were mixed with Saudi Arabia rising marginally while Dubai and Abu Dhabi fell. Earnings reports were announced for several companies and Qatar Rail signed a deal for driverless trains for Doha Metro.
The QSE Index in Qatar rose 0.2% while indices in other Gulf markets were mixed. In Qatar, the Insurance and Real Estate indices performed best, rising 0.5% and 0.2% respectively. Widam Food Co. and Qatari Investors Group were the top gainers in Qatar. Trading activity on the QSE fell 11% compared to the previous day.
The QSE Index declined 0.2% with losses led by the Insurance and Telecom indices. Top losers were Qatar Insurance Co. and Vodafone Qatar. The GCC markets were mixed with Saudi Arabia and Kuwait down while Oman was flat. Global economic data was released from the US, UK and EU showing housing starts in the US fell more than expected while UK CPI came in line with estimates. In Qatar news, private wealth in equities is forecast to grow 15% annually, foreign ownership of ERES was raised to 49%, and real estate trades reached QR1.3bn last week.
The QE index in Qatar rose 0.8% led by gains in the Banks & Financial Services and Consumer Goods & Services indices. Doha Insurance Co. and Masraf Al Rayan were the top gainers rising 8.3% and 2.9% respectively. Trading volume on the QE fell 44.3% compared to the previous day. In other GCC markets, indices in Dubai and Abu Dhabi rose while Kuwait and Oman fell.
The QE index in Qatar rose 1.4% led by gains in the telecom and industrial indices. Medicare Group and Dlala Brokerage rose the most, up 6.5% and 5.8% respectively, while Qatar General Insurance fell 5.7%. Regional indices were mixed with Saudi up 0.4% and Oman up 0.3% but Abu Dhabi down 0.4%. Qatar issued a new law raising the foreign ownership limit in listed companies to 49% from 25% to increase foreign investment liquidity in the $192 billion stock market.
QNBFS Daily Market Report October 12, 2021QNB Group
The QE Index in Qatar rose 0.1% driven by gains in the Insurance and Industrials indices. Gulf International Services and Mannai Corporation were the top gainers. Doha Insurance Group and Ooredoo declined. Trading volume increased 29.1% compared to the previous day. Regional indices were mixed with Abu Dhabi up 0.7% and Saudi Arabia down 0.5%. Several Qatar companies announced earnings release and AGM dates.
The QE index in Qatar rose 0.8% led by gains in the insurance and industrial indices. Qatar Insurance Co. and Ezdan Holding Group were the top gainers rising 10% each. Across the GCC, markets were mostly higher with Dubai gaining 2.2% and Saudi Arabia up 0.4%.
QNBFS Daily Market Report November 07, 2021QNB Group
The QE Index rose 0.5% to close at 11,940.6. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 1.1% and 0.7%, respectively.
The QSE Index declined 0.5% led by losses in the Transportation and Industrials indices. Top losers were Gulf International Services and Zad Holding Co, falling 5.0% and 4.5% respectively. Volume traded rose 44.6% compared to the previous day. Other GCC markets also declined except for Kuwait which rose 0.4%.
The QE Index rose 0.8% to close at 10,584.2. Gains were led by the Insurance and Banks & Financial Services indices, gaining 2.9% and 1.1%, respectively.
The document summarizes daily market activity in Qatar and other GCC countries. On the Qatari market, the QE Index rose 0.4% as the Real Estate and Consumer Goods & Services indices increased. Investment Holding Group and Ezdan Holding Group were the top gainers. Saudi markets declined marginally overall while Dubai and Abu Dhabi gained. Earnings reports are expected soon from several Qatari banks and companies. Global economic data showed initial US jobless claims rose slightly while Chinese CPI and PPI increased more than expected year-over-year.
QNBFS Daily Market Report August 12, 2021QNB Group
The QE Index rose marginally to close at 10,916.1. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 0.8% and 0.5%, respectively.
- The QSE Index in Qatar declined 2.5% led by losses in the Telecom and Insurance indices. Islamic Holding Group and Gulf Warehousing Co. were the top losers.
- Regional indices were mixed with Saudi Arabia up 0.3% while Dubai fell 3.2% and Abu Dhabi declined 1.4%.
- In Qatar news, Doha Bank imported a record amount of gold to meet demand, QPMC signed a supply deal with Oryx for 2 million tons of quarry products, and Ooredoo Maldives won an ISP license. Vodafone Qatar also boosted its network in Al Wakrah and Al Wukair.
The QSE Index in Qatar rose 0.2% led by gains in the real estate and telecom indices. Zad Holding and Barwa Real Estate were the top gainers rising 2.8% and 2.5% respectively. Trading volume fell 7.6% compared to the previous day. In other GCC countries, indices were mixed with Saudi Arabia rising marginally while Dubai and Abu Dhabi fell. Earnings reports were announced for several companies and Qatar Rail signed a deal for driverless trains for Doha Metro.
The QSE Index in Qatar rose 0.2% while indices in other Gulf markets were mixed. In Qatar, the Insurance and Real Estate indices performed best, rising 0.5% and 0.2% respectively. Widam Food Co. and Qatari Investors Group were the top gainers in Qatar. Trading activity on the QSE fell 11% compared to the previous day.
The QSE Index declined 0.2% with losses led by the Insurance and Telecom indices. Top losers were Qatar Insurance Co. and Vodafone Qatar. The GCC markets were mixed with Saudi Arabia and Kuwait down while Oman was flat. Global economic data was released from the US, UK and EU showing housing starts in the US fell more than expected while UK CPI came in line with estimates. In Qatar news, private wealth in equities is forecast to grow 15% annually, foreign ownership of ERES was raised to 49%, and real estate trades reached QR1.3bn last week.
The QE index in Qatar rose 0.8% led by gains in the Banks & Financial Services and Consumer Goods & Services indices. Doha Insurance Co. and Masraf Al Rayan were the top gainers rising 8.3% and 2.9% respectively. Trading volume on the QE fell 44.3% compared to the previous day. In other GCC markets, indices in Dubai and Abu Dhabi rose while Kuwait and Oman fell.
The QE index in Qatar rose 1.4% led by gains in the telecom and industrial indices. Medicare Group and Dlala Brokerage rose the most, up 6.5% and 5.8% respectively, while Qatar General Insurance fell 5.7%. Regional indices were mixed with Saudi up 0.4% and Oman up 0.3% but Abu Dhabi down 0.4%. Qatar issued a new law raising the foreign ownership limit in listed companies to 49% from 25% to increase foreign investment liquidity in the $192 billion stock market.
QNBFS Daily Market Report October 12, 2021QNB Group
The QE Index in Qatar rose 0.1% driven by gains in the Insurance and Industrials indices. Gulf International Services and Mannai Corporation were the top gainers. Doha Insurance Group and Ooredoo declined. Trading volume increased 29.1% compared to the previous day. Regional indices were mixed with Abu Dhabi up 0.7% and Saudi Arabia down 0.5%. Several Qatar companies announced earnings release and AGM dates.
The QE index in Qatar rose 0.8% led by gains in the insurance and industrial indices. Qatar Insurance Co. and Ezdan Holding Group were the top gainers rising 10% each. Across the GCC, markets were mostly higher with Dubai gaining 2.2% and Saudi Arabia up 0.4%.
QNBFS Daily Market Report November 07, 2021QNB Group
The QE Index rose 0.5% to close at 11,940.6. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 1.1% and 0.7%, respectively.
The QSE Index declined 0.5% led by losses in the Transportation and Industrials indices. Top losers were Gulf International Services and Zad Holding Co, falling 5.0% and 4.5% respectively. Volume traded rose 44.6% compared to the previous day. Other GCC markets also declined except for Kuwait which rose 0.4%.
The QSE Index in Qatar declined 1.1% led by losses in the Consumer Goods & Services and Industrials indices. Zad Holding Co. and Mazaya Qatar Real Estate Development were the top losers, falling 6.8% and 5.4% respectively. Trading volume on the QSE rose 11.4% compared to the previous day. The indexes for other GCC markets were mixed with Saudi Arabia up 0.4% while Dubai and Abu Dhabi declined 0.6%.
The QE Index declined 0.7% to close at 10,839.9. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.1% and 0.5%, respectively.
The QE Index rose marginally to close at 10,844.9. Gains were led by the Consumer Goods & Services and Industrials indices, gaining 0.8% and 0.4%, respectively.
The document summarizes daily market activity and commentary for the Qatari, GCC and regional stock markets. Key points include:
- The QSE Index declined 0.4% led by declines in the Telecom and Transportation indices. Doha Insurance and Ooredoo were the top losers.
- Saudi Arabia's TASI index rose 0.1% while Dubai's DFM index fell 1.1%. Abu Dhabi and Kuwait indexes rose slightly.
- Trading activity on the QSE rose compared to the previous day but was lower than the 30-day average. Vodafone Qatar and Dlala Brokerage were the most active by volume.
The QSE Index in Qatar declined 0.6% due to losses in the real estate and insurance indices. Qatar National Cement and Ezdan Holding Group were the top losers. Indices in other Gulf markets were mixed, with Saudi Arabia and Oman rising marginally while Kuwait and Bahrain fell. Earnings results were reported from companies in various Gulf markets. Global economic data showed the US retail sales declined more than expected in January while Eurozone GDP growth met forecasts.
The QE Index rose 0.1% to close at 10,613.5. Gains were led by the Consumer Goods & Services and Banks & Financial Services indices, gaining 0.5% and 0.4%, 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 QSE Index in Qatar declined 0.2% while indices in other Gulf markets were mixed with Saudi Arabia up 0.6% and Abu Dhabi down 0.2%.
- In Qatar, Qatar Fuel fell 7.1% and Qatar Cinema fell 2.7% as the top losers while Qatari Investors rose 5.9% and Al Meera rose 3.6% as the top gainers.
- Trading volume on the QSE rose 42.9% compared to the previous day but was 26.5% lower than the 30-day moving average.
QNBFS Daily Market Report November 11, 2018QNB Group
The QSE Index in Qatar rose 1.1% led by gains in the Consumer Goods & Services and Banks & Financial Services indices. Qatar Cinema & Film Distribution Company and Qatar Fuel Company were the top gainers rising 9.6% and 4.5% respectively. Regional indices were mixed with Abu Dhabi up 0.3% while Saudi Arabia fell 0.6%.
The QE Index rose 0.6% to close at 9,371.7. Gains were led by the Consumer Goods & Services and Transportation indices, gaining 1.2% and 1.1%, respectively.
The QE Index in Qatar declined 0.2% during the day's trading. Losses were led by the Transportation and Real Estate indices. Top losers were Al Khaleej Takaful Insurance Co. and Dlala Brokerage & Investment HoldingCo, falling 4.6% and 3.4% respectively. In Saudi Arabia, the TASI Index gained 0.7% with gains in the Media & Entertainment and Telecom Services sectors. The DFM Index in Dubai fell 0.3% while the ADX General Index in Abu Dhabi gained 0.2%.
QNBFS Daily Market Report August 10, 2016QNB Group
The document provides an overview of stock market activity in Qatar and other GCC countries on August 9, 2016. The key points are:
- In Qatar, the QSE Index declined marginally to close at 10,918.5 points. The Banks & Financial Services and Insurance indices led the losses.
- In other GCC countries, the Saudi, Dubai and Oman markets rose while the Abu Dhabi, Kuwait and Bahrain markets fell.
- Trading activity on the Qatari stock exchange increased compared to the previous day, with volume rising 16.1% to 13.5 million shares traded. Masraf Al Rayan and Vodafone Qatar were the most active stocks.
Similar to QNBFS Daily Market Report April 26, 2017 (20)
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.
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University of North Carolina at Charlotte degree offer diploma Transcript
QNBFS Daily Market Report April 26, 2017
1. Page 1 of 7
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose marginally to close at 10,157.4. Gains were led by the Telecoms
and Consumer Goods & Services indices, gaining 1.1% and 0.5%, respectively. Top
gainers were Gulf Warehousing Co. and Doha Insurance Co., rising 3.5% and 2.5%,
respectively. Among the top losers Qatar Cinema & Film Distribution Co. fell 9.9%,
while Qatar German Co. for Medical Devices was down 3.0%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.9% to close at 6,915.9. Losses were led by the
Telecommunication Services and Capital Goods indices, falling 2.0% each. Amana
Cooperative Insurance Company fell 4.5%, while National Industrialization
Company was down 3.4%.
Dubai: The DFM Index gained 0.1% to close at 3,433.7. The Consumer Staples index
rose 2.4%, while the Banks index gained 1.6%. Dar Al Takaful rosed 27.0%, while
Mashreqbank was up 15.0%.
Abu Dhabi: The ADX benchmark index rose 0.7% to close at 4,564.6. The
Investment & Financial Services index gained 3.0%, while the Real Estate index
rose 2.1%. Abu Dhabi National Co. for Building Materials gained 3.9%, while
International Fish Farming Co. was up 3.8%.
Kuwait: The KSE Index declined marginally to close at 6,830.9. The Insurance index
fell 1.8%, while the Technology index declined 1.1%. Ajwan Gulf Real Estate Co. fell
10.8%, while Kuwait Real Estate Co. was down 7.9%.
Oman: Market was closed on April 25, 2017.
Bahrain: The BHB Index gained 0.1% to close at 1,336.6. The Services index rose
0.4%, while the Investment index gained 0.1%. Inovest rose 9.1%, while Khaleeji
Commercial Bank was up 1.7%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Gulf Warehousing Co. 53.50 3.5 83.1 (4.5)
Doha Insurance Co. 16.97 2.5 0.1 (6.8)
Medicare Group 100.00 2.0 70.8 59.0
Widam Food Co. 64.90 1.4 20.4 (4.6)
Al Meera Consumer Goods Co. 161.00 1.3 10.4 (8.3)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Vodafone Qatar 9.60 0.9 4,380.2 2.5
Ezdan Holding Group 15.35 0.1 1,256.3 1.6
Mazaya Qatar Real Estate Dev. 13.47 0.9 829.7 (1.7)
Barwa Real Estate Co. 33.95 (1.6) 815.3 2.1
National Leasing 17.16 (1.2) 620.4 12.0
Market Indicators 25 Apr 17 24 Apr 17 %Chg.
Value Traded (QR mn) 271.2 216.6 25.2
Exch. Market Cap. (QR mn) 547,307.5 546,821.9 0.1
Volume (mn) 11.5 7.9 45.3
Number of Transactions 3,379 3,036 11.3
Companies Traded 41 41 0.0
Market Breadth 16:21 13:25 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 17,033.31 0.0 (0.8) 0.9 15.3
All Share Index 2,894.88 0.1 (0.7) 0.9 15.0
Banks 3,009.91 (0.0) (0.5) 3.4 13.2
Industrials 3,179.53 (0.1) (1.3) (3.8) 19.0
Transportation 2,200.21 0.1 (1.5) (13.6) 13.0
Real Estate 2,356.32 (0.2) (0.7) 5.0 15.6
Insurance 4,284.95 0.2 (0.3) (3.4) 18.1
Telecoms 1,271.27 1.1 (1.0) 5.4 21.4
Consumer 6,360.47 0.5 (0.3) 7.8 13.3
Al Rayan Islamic Index 4,092.25 0.2 (0.5) 5.4 18.4
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
F. A. Alhokair & Co. Saudi Arabia 35.20 10.0 3,997.5 (4.3)
Gulf Warehousing Co. Qatar 53.50 3.5 83.1 (4.5)
Nat. Ind. Group Holding Kuwait 0.12 3.4 650.2 (1.6)
Dar Al Arkan Real Estate Saudi Arabia 6.31 3.4 82,997.8 2.4
Nat. Mobile Telecom. Kuwait 1.22 3.4 34.0 1.7
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Kuwait Cement Co. Kuwait 0.49 (5.8) 0.8 19.5
Sharjah Islamic Bank Abu Dhabi 1.32 (4.3) 227.9 (5.7)
Com. Bank of Kuwait Kuwait 0.37 (4.2) 3.4 (0.7)
National Ind. Co. Saudi Arabia 16.29 (3.4) 1,737.1 (6.7)
Gulf Cable & Elec. Ind. Kuwait 0.44 (3.3) 54.6 16.0
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar Cinema & Film Distribution 32.70 (9.9) 1.5 19.1
Qatar German Co. for Med. Dev. 9.26 (3.0) 25.3 (8.3)
Qatar National Cement Co. 77.00 (1.9) 19.4 (1.5)
Qatari Investors Group 59.00 (1.7) 43.7 0.9
Barwa Real Estate Co. 33.95 (1.6) 815.3 2.1
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Vodafone Qatar 9.60 0.9 42,044.6 2.5
Barwa Real Estate Co. 33.95 (1.6) 27,715.8 2.1
Masraf Al Rayan 42.00 0.4 23,900.2 11.7
QNB Group 146.00 0.0 21,637.3 (1.4)
Ezdan Holding Group 15.35 0.1 19,208.1 1.6
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 10,157.37 0.0 (0.8) (2.2) (2.7) 74.48 150,345.4 15.3 1.5 3.7
Dubai 3,433.74 0.1 (1.0) (1.3) (2.8) 91.59 101,090.1 14.8 1.3 4.2
Abu Dhabi 4,564.63 0.7 1.0 2.7 0.4 39.24 119,332.3 17.0 1.3 4.4
Saudi Arabia 6,915.89 (0.9) 0.2 (1.2) (4.1) 985.59 432,410.7 17.0 1.6 3.3
Kuwait 6,830.85 (0.0) 0.3 (2.8) 18.8 58.09 92,023.6 11.5 1.3 3.5
Oman#
5,466.61 (0.1) (0.1) (1.5) (5.5) 6.10 21,948.3 12.0 1.1 5.3
Bahrain 1,336.61 0.1 0.2 (1.4) 9.5 4.78 21,377.5 8.1 0.8 5.9
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, DFM and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any;
#
Data as of April 24, 2017)
10,100
10,120
10,140
10,160
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 marginally to close at 10,157.4. The Telecoms and
Consumer Goods & Services 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.
Gulf Warehousing Co. and Doha Insurance Co. were the top gainers,
rising 3.5% and 2.5%, respectively. Among the top losers Qatar Cinema
& Film Distribution Co. fell 9.9%, while Qatar German Co. for Medical
Devices was down 3.0%.
Volume of shares traded on Tuesday rose by 45.3% to 11.5mn from
7.9mn on Monday. Further, as compared to the 30-day moving average
of 10.7mn, volume for the day was 7.5% higher. Vodafone Qatar and
Ezdan Holding Group were the most active stocks, contributing 38.0%
and 10.9% 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
Abu Dhabi
National Energy
Co.
S&P
Abu
Dhabi
LT-CCR A A- Negative
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, CCR– Corporate Credit Rating)
Earnings Releases
Company Market Currency
Revenue (mn)
1Q2017
% Change
YoY
Operating Profit
(mn) 1Q2017
% Change
YoY
Net Profit
(mn) 1Q2017
% Change
YoY
Yanbu National Petrochemical Co. Saudi Arabia SR – – 623.2 23.5% 608.2 44.2%
Hail Cement Co. Saudi Arabia SR – – 10.3 -73.7% 8.3 -74.4%
SHUAA Capital Dubai AED 31.8 -30.1% 4.5 N/A 24.8 N/A
Emirates Integrated Telecom. Co. Dubai AED 3,166.4 2.5% 832.3 -17.3% 364.9 -24.0%
Emirates Telecom. Group Company Abu Dhabi AED 12,458.0 -3.1% – – 2,091.0 4.5%
Bahrain Family Leisure Company#
Bahrain BHD – – 51.5 31.9% 37.8 N/A
Source: Company data, DFM, ADX, MSM, TASI, BHB. (
#
Values in ‘000)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
04/25 France INSEE Business Confidence April 104 104 104
04/25 France INSEE Manufacturing Confidence April 108 105 104
04/25 Japan Bank of Japan PPI Services YoY March 0.8% 0.7% 0.8%
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 1Q2017 results No. of days remaining Status
QFLS Qatar Fuel Company 26-Apr-17 0 Due
ORDS Ooredoo 26-Apr-17 0 Due
AHCS Aamal Company 26-Apr-17 0 Due
WDAM Widam Food Company 26-Apr-17 0 Due
QFBQ Qatar First Bank 26-Apr-17 0 Due
DBIS Dlala Brokerage & Investment Holding Company 26-Apr-17 0 Due
MRDS Mazaya Qatar 26-Apr-17 0 Due
QGMD Qatar German Company for Medical Devices 26-Apr-17 0 Due
AKHI Al Khaleej Takaful Insurance 27-Apr-17 1 Due
NLCS National Leasing (Alijarah) 27-Apr-17 1 Due
SIIS Salam International Investment 29-Apr-17 3 Due
QIMD Qatar Industrial Manufacturing Company 30-Apr-17 4 Due
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 52.08% 46.51% 15,099,117.72
Qatari Institutions 16.49% 26.07% (25,974,523.12)
Qatari 68.57% 72.58% (10,875,405.40)
GCC Individuals 2.63% 1.13% 4,063,201.99
GCC Institutions 0.85% 0.49% 970,597.40
GCC 3.48% 1.62% 5,033,799.39
Non-Qatari Individuals 6.13% 7.21% (2,941,435.40)
Non-Qatari Institutions 21.82% 18.59% 8,783,041.41
Non-Qatari 27.95% 25.80% 5,841,606.01
3. Page 3 of 7
ERES Ezdan Real Estate Company 30-Apr-17 4 Due
MPHC Mesaieed Petrochemical Holding Company 30-Apr-17 4 Due
ZHCD Zad Holding Company 30-Apr-17 4 Due
Source: QSE
News
Qatar
IQCD reports net profit of QR927.94mn in 1Q2017, in line with
our estimate – Industries Qatar (IQCD) reported net profit of
QR927.94mn in 1Q2017 (as compared to QR229.93mn in 4Q2016
& QR697.03mn in 1Q2016), in line with our estimate of
QR891.36mn (+4.1% variation). Earnings per share fell to
QR1.53 in 1Q2017 from QR1.15 in 1Q2016, in-line with our
estimate of QR1.47. An IQCD spokesman said, the QoQ
improvement was mainly due to the absence of one-off
expenses in 1Q2017. He added, “The YoY improvement (in
2017) was primarily due to a recovery in the product prices, as
1Q2016 witnessed significantly lower prices due to the
depressed economic environment prevailing at that time, and
there was also reduced operating costs.” Highlighting that all
segments reported improved performance, although the
performance in some segments, in particular the polyethylene
segment, was affected due to some unplanned outages, the
spokesman said the 1Q2017 financial performance far exceeded
the group’s budget expectations. IQCD reported revenue of
QR1.11bn in 1Q2017, marginally down on YoY basis, owing to a
slight decrease in the sales volumes. The group’s financial
position, as measured by the asset levels, liquidity and debt
position continue to remain strong as cash across the group
stands at a solid QR9.9bn after paying 2016 dividend of
QR2.4bn. Outlining that total debt stood at QR2.8bn, down
QR0.1bn versus December 31, 2016, which exhibited the group’s
strong leverage position, the spokesman said “this stable
financial position re-affirms the group’s ability to withstand
tough trading conditions.” Total assets were valued at
QR33.35bn, comprising current assets of QR8.85bn and non-
current assets of QR24.5bn. The company’s total equity stood
at QR31.99bn on a capital base of QR6.05bn. (QNBFS Research,
QSE, Gulf-Times.com)
QIIK reports ~QR236.5mn net profit in 1Q2017; in-line with our
estimate – Qatar International Islamic Bank (QIIK) reported net
profit of ~QR236.5mn in 1Q2016 (as compared to QR118.37mn
in 4Q2016), in-line with our estimate of QR228.91mn (+3.3%
variation). Earnings per share amounted to QR1.56 in 1Q2017
(as compared to QR1.47 in 1Q2016), in-line with our estimate of
QR1.51. QIIK’s CEO Abdulbasit Ahmad al-Shaibei said, “The
total revenues of the bank at the end of the first quarter of 2017
amounted to QR460mn compared to QR400mn during the
corresponding period of 2016, which indicates a growth rate of
15%”. He added, “Total assets at the end of the first quarter rose
by 10% and reached QR45.3bn compared to QR41.3bn during
the same period of 2016. The size of the bank’s financing
portfolio increased by the end of the first quarter to reach
QR29.3bn compared to QR25.7bn at the end of the first quarter
2016, representing a growth rate of 14%.” Al-Shaibei said the
level of QIIK’s non-performing assets is now at 1.84%. At the
same time, the bank has maintained its operating efficiency
(cost-to-income ratio), which reached 25.4% in 1Q2017. The
bank’s total deposits rose to QR28.7bn at the end of March 31,
2017 as compared with QR27.8bn at the end of March 31, 2016.
The capital adequacy ratio (Basel III) reached 17.85%, which
confirms the strong financial position of the bank, according to
Al-Shaibei. (QNBFS Research, QSE, Gulf-Times.com)
QNCD reduces price of cement products – Qatar National
Cement Company (QNCD) has decided to reduce the factory
price for its various cement products. The new rates came into
effect on April 25, the company said. QNCD General Manager
Mohamed Ali al-Sulaiti said the board of directors at its meeting
in Doha on April 25, decided to introduce discounted prices for
cement produced by the company "as part of its keenness to
increase its participation in the local market and develop the
construction sector in the country." Accordingly, the loose
regular cement would be sold at the factory for QR230 a ton
(QR250 earlier), the resistant cement QR250 a ton (QR270
earlier), QR11 for the bag of regular cement (QR13 earlier), and
QR12 for the bag of resistant cement (QR14 earlier). However,
al-Sulaiti pointed out that prices would not change for the other
products of the company, according to the board's decision.
(Gulf-Times.com)
BRES reports QR479.43mn net profit in 1Q2017 – Barwa Real
Estate Company (BRES) reported net profit of QR479.43mn in
1Q2017 as compared to QR107.67mn in 4Q2016. However on
YoY basis net profit declined 26.4%. EPS amounted to QR1.23 in
1Q2017 as compared to QR1.67 in 1Q2016. BRES said the
decrease in the net profit resulted from a few non-recurring
items like revaluation gain from investment properties and
other income. However, the group has succeeded in enhancing
its operating income by increasing its net rental income by
QR38mn with a 20% YoY increase. The group has also
succeeded in decreasing the general and administrative
expenses by 6% YoY. BRES further stated “The financial results
of the group reflect Barwa’s concern of moving towards
achieving its objectives of sustainable growth for its
shareholders through supporting its assets via new operational
projects, and at the same time to work on enhancing the
efficiency of current operating projects. In addition to that,
Barwa is working on enforcing the principle of partnership with
the State of Qatar through developing a number of projects such
as the Mustawdaat project and Madinat Al Mawater project.” In
1Q2017, the company had seen the commencement of
operations of the Shell employees housing complex at Al Khor.
(QSE, Gulf-Times.com)
QATI's net profit declines 6.7% QoQ in 1Q2017 – Qatar
Insurance Company’s (QATI) net profit declined 6.7% QoQ (-
6.3% YoY) to QR301.51mn in 1Q2017. The company's net
earned premiums came in at QR1.90bn in 1Q2017, which
represents a decrease of 26.4% QoQ. However, on YoY basis, net
earned premiums rose 11.5%. EPS amounted to QR1.09 in
1Q2017 as compared to QR1.16 in 1Q2016. On the back of solid
expansion across its key geographical markets, lines of business
4. Page 4 of 7
and client segments, QATI’s performance and pace of premium
growth for 1Q2017 are in line with the company’s expectations,
its spokesman said. The group was successful at delivering a
stable performance due to steady flow of income which
stemmed from its prudent underwriting and investment
prowess. Despite economic downturn and market volatility,
QATI recorded 15% YoY growth in gross written premium
(GWP) to QR3.09bn in 1Q2017. Key contributors to the growth
in GWP can be attributed to the group’s global reinsurance and
specialty insurance subsidiaries, namely, Qatar Re and Antares
in addition to its life and medical insurance subsidiary, QLM.
The group’s international subsidiaries in Bermuda, London and
Malta reported 37% growth and now account for about 69% of
its total GWP. The group has renewed its focus on streamlining
operations for achieving enhanced operational efficiency with
the administrative expense ratio for its core operations at 8.5%
at the end of March 31, 2017. (QSE, Gulf-Times.com)
MERS' net profit declines 35% QoQ in 1Q2017 – Al Meera
Consumer Goods Company's (MERS) net profit declined 35.0%
QoQ (-18.0% YoY) to QR40.52mn in 1Q2017. EPS decreased to
QR2.03 in 1Q2017 from QR2.47 in 1Q2016. (QSE)
QCFS reports QR2.95mn net profit in 1Q2017 – Qatar Cinema
and Film Distribution Company (QCFS) recorded net profit of
QR2.95mn in 1Q2017 as compared to net loss of QR3.31mn in
4Q2016. On YoY basis net profit declined 13.6%. Earnings per
share fell to QR0.47 in 1Q2017 from QR0.54 in 1Q2016. (QSE)
MCGS' net profit declines 39.7% QoQ in 1Q2017 – Medicare
Group's (MCGS) net profit declined 39.7% QoQ to QR17.87mn in
1Q2017. However, on YoY basis, net profit rose 26.5%. EPS
amounted to QR0.64 in 1Q2017 as compared to QR0.50 in
1Q2016. (QSE)
MCCS’ net profit falls to ~QR90.1mn in 1Q2017 – Mannai
Corporation’s (MCCS) net profit declined to ~QR90.1mn in
1Q2017 from QR192.2mn in 4Q2016. On YoY basis, net profit
fell 28.0%. EPS amounted to QR1.97 in 1Q2017 as compared to
QR2.74 in 1Q2016. (QSE)
QOIS reports net profit of QR9.58mn in 1Q2017 – Qatar Oman
Investment Company (QOIS) reported net profit of QR9.58mn
in 1Q2017 as compared to QR0.69mn in 4Q2016. However, on
YoY basis, net profit fell 18.7%. The company's net investment
and interest income increased significantly to QR10.93mn in
1Q2017 from QR3.45mn in 4Q2016. EPS fell to QR0.304 in
1Q2017 from QR0.374 in 1Q2016. (QSE)
QISI's bottom line rises 69.7% QoQ in 1Q2017 – Qatar Islamic
Insurance Company’s (QISI) net profit rose 69.7% QoQ (+2.5%
YoY) to QR22.71mn in 1Q2017. The company's gross income
came in at QR31.02mn in 1Q2017, which represents an increase
of 23.9% QoQ (+1.2% YoY). EPS amounted to QR1.51 in 1Q2017
as compared to QR1.48 in 1Q2016. (QSE)
QSE announces trading suspension in the shares of QGMD on
April 26 – Qatar Stock Exchange (QSE) announced trading
suspension in the shares of Qatari German Company for
Medical Devices (QGMD) on April 26, 2017 due to its AGM being
held on the day. (QSE)
Al-Sada calls for forging stronger Qatar-Russia private sector
ties – Qatar’s Energy Minister has underscored the importance
of forging stronger trade ties and enhancing economic
cooperation between Qatar and Russia’s private sector to boost
investment opportunities from both sides. Speaking on the
sidelines of the third meeting of the Joint Qatar-Russian
Commission on Trade, Economic and Technical Cooperation, HE
the Minister of Energy and Industry Dr Mohamed bin Saleh al-
Sada highlighted cooperation opportunities between Qatar and
Russia. Also, al-Sada and Russian Energy Minister Alexander
Novak interest to Qatar and Russia, and joint relations in the
energy, industry, culture, agriculture, and transport sectors.
The Minister said both sides also agreed to work towards the
conclusion of a tax agreement, and “to take steps in the
cultural, industrial, and energy fields.” He noted that both the
countries welcomed joint investments, especially those from
Qatar Investment Authority. (Gulf-Times.com)
Qatar hospitality sector tops in GCC – Qatar’s hospitality sector
has ranked at the top of GCC destinations in the “Guest
Experience in the Middle East (ME) report,” which was released
by hospitality and travel data providers (Olery).The report,
released at the Arabian Travel Market’s exhibition in Dubai,
showed that Qatar ranked third on the overall ranking in the
Middle East with 2.83% increase in the guest experience index
since the last report. The report monitored and analyzed more
than 2.5mn online guest reviews over the past 12 months (April
1, 2016 to March 31, 2017) from popular travel sites. The index
measures overall guest satisfaction by analyzing different
aspects of their tourist accommodation experience, including
service, location, cleanliness, room quality, and value for
money. In Qatar, hotel room quality and cleanliness were
highly rated, 87.6 and 88.9 respectively, placing the country in
the second rank at the regional level in these categories. (Gulf-
Times.com)
Qatar Petroleum-ExxonMobil’s GPP gets green signal for LNG
export to NFTA countries – Qatar Petroleum announced that
Golden Pass Products (GPP) has received authorization from the
US Department of Energy to export LNG to Non-Free Trade
Agreement countries. Golden Pass Products, which is
developing the LNG export project, is owned by affiliates of
Qatar Petroleum and ExxonMobil, who are world leaders in the
LNG business with Qatar Petroleum being the largest LNG
exporter in the world. Qatar Petroleum President and CEO Saad
Sherida Al Kaabi said, “This approval marks an important
milestone for the project, in which both shareholders have
invested significant efforts, and sets the stage to help meet the
world’s growing need for clean energy.” Al Kaabi added, “I
would like to take this opportunity to thank the United States
Department of Energy and all concerned authorities for their
support." Al-Kaabi said, "Today’s announcement paves the way
for further progress in the Golden Pass export project towards a
final investment decision in 2018, and I would like to take this
opportunity to thank our partner ExxonMobil and the
employees of Golden Pass for their efforts in this direction.”
(Gulf-Times.com)
Credit Suisse Qatar venture hires new CEO as asset growth
slows – Credit Suisse Group AG’s joint venture with Qatar
Investment Authority has appointed its third Chief Executive
Officer (CEO) in five years as the money manager struggles to
grow its assets. Aventicum Capital Management (Qatar) named
Francois Jansen van Rensburg as CEO in January, replacing
Habib Oueijan. Van Rensburg was already the company’s Chief
5. Page 5 of 7
Operating Officer and will stay on in that role. Switzerland’s
second-largest lender and QIA, the sovereign-wealth fund of
the world’s richest country in per capita income, formed
Aventicum in 2012 to expand their investments in developing
economies. The firm invests in emerging and frontier markets
in the Middle East, North Africa and Turkey. (Bloomberg)
International
US home prices rise faster than expected in February – US
single family home prices accelerated at a faster pace than
expected in February, supported by a low inventory of housing
stock. The S&P CoreLogic Case-Shiller composite index of 20
metropolitan areas rose 5.9% in February on YoY basis, after an
unrevised 5.7% increase in January. February's result topped
the estimate of a 5.7% increase from a Reuters poll of
economists and was the biggest YoY increase since July 2014.
David M. Blitzer, Managing Director And Chairman of the index
committee at S&P Dow Jones Indices, said the low stock of
existing homes for sale - currently just 3.8 months of supply at
current sales rates is bolstering the price increases. Housing
affordability has declined since 2012 as the pressure of higher
prices has been a larger factor than stable to lower mortgage
rates. On a monthly basis, prices in the 20 cities rose 0.7% in
February on a seasonally adjusted basis, just shy of
expectations for a 0.8% increase. On a non-seasonally adjusted
basis, prices increased 0.4% from January. (Reuters)
ELFA: US business borrowing for equipment rises 10% in March
– According to the Equipment Leasing and Finance Association
(ELFA), borrowing by US companies to spend on capital
investment rose in March. Companies signed up for $8.9bn in
new loans, leases and lines of credit in March, up 10% from a
year earlier. Their borrowing rose 51% from February. ELFA
Chief Executive Ralph Petta said, "The central bank's recent
rate hike may, in part, be responsible for the spike in equipment
demand as businesses seek to lock in fixed rate financing ahead
of steadily increasing interest costs." Washington based ELFA,
a trade association that reports economic activity for the $1tn
equipment finance sector; said credit approvals totaled 74.5% in
March, down slightly from 74.8% in February. ELFA's leasing
and finance index measures the volume of commercial
equipment financed in the US. It is designed to complement the
US Commerce Department's durable goods orders report, which
it typically precedes by a few days. (Reuters)
UK consumer slowdown starts to squeeze government finances
– UK shoppers are reining in their spending in response to faster
inflation and it’s starting to take a toll on the public purse. The
latest budget figures from the Office for National Statistics
showed value-added tax receipts fell 0.8% in 1Q2017 compared
with a year earlier. That compares with a 4.1% increase in the
previous three months and marks the first drop since 2012. The
decline tallies with data last week showing UK retail sales fell
the most in six years in the three months through March. With
prices now rising faster than wages that is putting the pinch on
workers, who are growing more pessimistic about their
financial position and spending capacity. (Bloomberg)
Eurozone lending to grow but ECB weighs on profits –
According to an European Central Bank's (ECB) survey, banks
across the Eurozone are set to expand lending further in
2Q2017, even as the ECB’s ultra-easy monetary policy erodes
profitability. Banks may slightly tighten access to credit for
companies in 2Q2017 but corporate, household and consumer
loan volumes will continue to rise, helped by ultra-low rates.
Aiming to keep financial conditions exceptionally easy, the ECB
has cut interest rates into negative territory and buys €60bn
worth of assets per month, all in the hope of reviving growth
and inflation. While the negative rates and asset buys have
improved access to finance, most banks said the overall impact
on profits was negative as the hit on margins was not offset by
capital gains or the higher volumes. (Reuters)
BoJ Governor: G20, IMF accept BoJ's monetary policy – Bank of
Japan’s (BoJ) Governor Haruhiko Kuroda said that Group of 20
(G20) and International Monetary Fund (IMF) officials accept
the view that the central bank's quantitative easing policy is to
achieve its inflation target. Kuroda also said a statement
released after the IMF's spring meeting showed agreement that
monetary policy should support economic growth. Kuroda was
questioned about the IMF and the G20 amid growing concern
that Japan's exports and monetary policy could come under
criticism after IMF members dropped a previous pledge to fight
protectionism amid a split over trade policy. Kuroda said, "The
IMF released a statement that re-affirms previous agreements
that central banks should pursue their mandate to support
economic activity and attain price stability. (Reuters)
China's unemployment rate falls below 4% at end of 1Q2017 –
China's registered urban unemployment rate fell below 4% for
the first time in years, in a hopeful sign slower economic
growth is not creating the massive unemployment Beijing fears
will sow social instability. The social security ministry said that
3.34mn new jobs were created in 1Q2017. The registered urban
unemployment rate was 3.97% at the end of 1Q2017. China has
kept employment generally stable even as economic growth
has slowed to a 26 year low and the government shuts down
outdated industrial capacity, though many analysts say the
official figure is an unreliable indicator of nationwide
employment conditions. According to the National Bureau of
Statistics, on an annual basis, the official unemployment rate
was last below 4% in 2001, when it was 3.6%. The rate ended
2016 at 4.02% after not budging from 4.1% from 2010-15.
(Reuters)
Regional
Alawwal Bank announces board resolution to commence
discussions on merger with SABB – Alawwal Bank announced
that its board of directors resolved to start initial discussions
with Saudi British Bank (SABB) to study the possibility of
merging the two banks. Entering in such discussions does not
necessarily mean that the merger will take place between the
two parties. Once the agreement has been finalized, this will be
subject to a number of conditions including, without limitation,
the approval of the relevant regulatory authorities in Saudi
Arabia and the approval of the extraordinary general assembly
of each of Alawwal Bank and SABB. It is worth noting that the
Saudi Arabian Monetary Authority was approached in relation
to the merger requirements prior to the commencement of these
discussions. However, the proposed merger will still be subject
to formal regulatory approvals prior to the completion. The
bank does not expect that the proposed merger will, if
6. Page 6 of 7
completed, result in any involuntary layoff of employees.
(Tadawul)
Citi obtains capital markets license to operate in Saudi Arabia –
Citigroup has obtained a license to conduct capital markets
business in Saudi Arabia. The move allows Citi to return to the
Kingdom after an absence of 13 years and comes as the Gulf
country seeks to diversify its funding resources away from oil
revenues under its National Transformation Plan. (Reuters)
Saudi Arabia's exchange may be ready for equity futures,
options in 24 months – Saudi Arabia’s stock exchange's CEO
Khalid al-Hussan said the exchange should be ready to
introduce equity futures and options in about 24 months, after
it completes reforms to help it manage the risks of such
products. Futures and options would provide hedging tools for
the foreign institutional investors that are expected to enter
Saudi Arabia with the listing of national oil giant Saudi Aramco.
(Bloomberg)
UAE listed banks report over $2bn in 1Q2017 net profit –
Twelve UAE-listed national banks reported a total net profit of
$2.08bn during 1Q2017, an increase of 6.7% from $1.95bn
reported in 1Q2016. According to sources, the results disclosed
by the 12 banks for the quarter show continued ability to post
acceptable growth levels proving their ability to survive market
pressures. Seven Abu Dhabi Securities Exchange listed banks
booked AED3.84bn in profits during 1Q2017, a 4.9% increase
over AED3.66bn in 1Q2016. Five Dubai Finance Market (DFM)
listed banks reported total profits of AED3.8bn in 1Q2017, up
8.6%, from AED3.5bn during 1Q2016. (Bloomberg)
Dar Takaful effects rights issue to raise its capital to
AED150mn – The DFM listed Dar Al Takaful will effect a right
issue to raise its capital to AED150mn by issuing 50mn shares.
The rights will appear in the accounts of the registered
shareholders under a new symbol "DARTAKAFULRI" that
designates these Rights. (GulfBase.com)
Emaar Hospitality unveils six new hotel projects – Emaar
Hospitality Group, the hospitality and leisure business of Emaar
Properties, has unveiled six new hotel projects as part of its
regional and international expansion plans, at the Arabian
Travel Market (ATM) 2017 in Dubai, UAE. (GulfBase.com)
ADIB’s net profit rises to AED576.93mn in 1Q2017 – Abu Dhabi
Islamic Bank (ADIB) recorded net profit of AED576.93mn in
1Q2017 as compared to AED481.44mn in 1Q2016. Operating
profit came in at AED721.96mn in 1Q2017 as compared to
AED637.11mn in 1Q2016. Total assets stood at AED122.51bn at
the end of March 31, 2017 as compared to AED122.29bn at the
end of March 31, 2016. On the liabilities side, depositors’
accounts stood at AED101.0bn at the end of March 31, 2017 as
compared to AED98.8bn at the end of December 31, 2016. EPS
came in at AED0.182 in 1Q2017, as compared to AED0.152 in
1Q2016. (ADX)
TAQA’s credit rating cut by S&P as government support
questioned – Abu Dhabi National Energy Co. (TAQA) had its
credit rating cut one level to ‘A’ by Standard & Poor’s (S&P),
which cited what it sees as increased risks to state support for
the utility. S&P also revised the outlook for the company’s debt
to ‘negative’ from ‘stable’. S&P stated “The downgrade reflects
potential risks to our current assessment that TAQA has an
extremely high likelihood of receiving support from the Abu
Dhabi government.” TAQA has written off assets, sold
businesses and cut jobs and spending after losing money due to
acquisitions and lower crude prices over the past two years.
(Gulf-Times.com)
Interest income of expatriates in Oman not subject to
withholding tax – According to Saud Nasser Al Shukaily,
Secretary General of Taxation at the Ministry of Finance,
expatriates living in Oman can heave a sigh of relief as the
government is not going to charge withholding tax on their
interest income of their deposits in Omani banks. Earlier, when
the government amended the tax law, there was a general
belief that the interest income of expatriates is also subject to
withholding tax. However, interest paid by financial
institutions and companies to overseas institutions are liable to
withholding tax at the rate of 10%. (GulfBase.com)
Investcorp acquires $160mn US industrial properties –
Investcorp said its US based real estate arm has acquired a
portfolio of industrial properties in Chicago and Boston
metropolitan areas for $160mn. The Bahrain based company
pointed out that the portfolio included six properties with an
aggregate of approximately 1.8mn square foot of warehouse
and distribution space. (GulfBase.com)
7. Contacts
Saugata Sarkar Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
Mohamed Abo Daff QNB Financial Services Co. W.L.L.
Senior Research Analyst Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6589 PO Box 24025
mohd.abodaff@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange. Qatar National Bank (Q.P.S.C.) is regulated by the Qatar Central Bank. This publication expresses the views and
opinions of QNBFS at a given time only. It is not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or
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decision. Although the information in this report has been obtained from sources that QNBFS believes to be reliable, we have not independently verified such information and it may not be
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Page 7 of 7
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg (
#
Data as of April 24, 2017)
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
70.0
90.0
110.0
130.0
150.0
170.0
Mar-13 Mar-14 Mar-15 Mar-16 Mar-17
QSEIndex S&PPanArab S&PGCC
(0.9%)
0.0%
(0.0%)
0.1%
(0.1%)
0.7%
0.1%
(1.0%)
(0.5%)
0.0%
0.5%
1.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman#
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,264.24 (0.9) (1.5) 9.7 MSCI World Index 1,882.04 0.6 2.2 7.5
Silver/Ounce 17.61 (1.9) (1.8) 10.6 DJ Industrial 20,996.12 1.1 2.2 6.2
Crude Oil (Brent)/Barrel (FM Future) 52.10 1.0 0.3 (8.3) S&P 500 2,388.61 0.6 1.7 6.7
Crude Oil (WTI)/Barrel (FM Future) 49.56 0.7 (0.1) (7.7) NASDAQ 100 6,025.49 0.7 1.9 11.9
Natural Gas (Henry Hub)/MMBtu 2.96 (0.8) (2.7) (19.7) STOXX 600 386.91 1.2 4.8 11.1
LPG Propane (Arab Gulf)/Ton 64.00 0.4 0.4 (10.8) DAX 12,467.04 1.1 6.0 12.7
LPG Butane (Arab Gulf)/Ton 70.00 0.4 (0.7) (27.8) FTSE 100 7,275.64 0.6 2.6 5.9
Euro 1.09 0.5 1.8 3.9 CAC 40 5,277.88 1.2 6.8 12.7
Yen 111.09 1.2 1.8 (5.0) Nikkei 19,079.33 (0.0) 0.6 4.9
GBP 1.28 0.4 0.2 4.1 MSCI EM 982.65 1.2 2.2 14.0
CHF 1.01 0.2 0.3 2.5 SHANGHAI SE Composite 3,134.57 0.1 (1.0) 1.9
AUD 0.75 (0.5) (0.1) 4.5 HANG SENG 24,455.94 1.3 1.7 10.8
USD Index 98.79 (0.3) (1.2) (3.4) BSE SENSEX 29,943.24 1.2 2.5 18.8
RUB 56.14 0.6 (0.9) (8.8) Bovespa 65,148.35 0.4 2.4 11.5
BRL 0.32 (0.6) 0.0 3.4 RTS 1,120.89 0.4 3.4 (2.7)
119.1
100.3
98.4