The QE Index rose 1.5% to close at 13,875.9. Gains were led by the Banks & Financial Services and Consumer Goods & Services indices, gaining 2.4% and 1.0%, 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.
The QE Index declined 0.1% to close at 13,711.9. Losses were led by the Industrials and Telecoms indices, falling 0.7% each. Top losers were Qatar Insurance Company and Investment Holding Group, falling 4.0% and 2.5%, 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.
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.
The QE Index declined 0.1% to close at 13,711.9. Losses were led by the Industrials and Telecoms indices, falling 0.7% each. Top losers were Qatar Insurance Company and Investment Holding Group, falling 4.0% and 2.5%, 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.
QNBFS Daily Market Report February 01, 2022QNB Group
The QE Index rose marginally to close at 12,498.2. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 1.3% and 0.8%, respectively.
QNBFS Daily Market Report October 28, 2021QNB Group
The QE Index declined 0.3% to close at 11,665.7. Losses were led by the Telecoms and Consumer Goods & Services indices, falling 1.7% and 0.6%, respectively.
The QE Index rose 0.4% to close at 10,708.4. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.6% and 0.5%, respectively.
The QE Index rose 0.8% to close at 10,777.7. Gains were led by the Banks & Financial Services and Industrials indices, gaining 1.1% and 0.7%, respectively.
QNBFS Daily Market Report November 03, 2019QNB Group
The QE Index declined 0.9% to close at 10,189.0. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 1.0%, respectively.
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 September 08, 2021QNB Group
The QE Index declined marginally to close at 11,062.9. Losses were led by the Industrials and Transportation indices, falling 0.5% and 0.3%, respectively.
The QE Index rose 0.8% to close at 13,632.0. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 1.6% and 1.3%, respectively.
QNBFS Daily Market Report February 09, 2022QNB Group
The QE Index declined marginally to close at 12,673.0. Losses were led by the Transportation and Insurance indices, falling 0.8% and 0.5%, respectively.
QNBFS Daily Market Report February 01, 2022QNB Group
The QE Index rose marginally to close at 12,498.2. Gains were led by the Insurance and Consumer Goods & Services indices, gaining 1.3% and 0.8%, respectively.
QNBFS Daily Market Report October 28, 2021QNB Group
The QE Index declined 0.3% to close at 11,665.7. Losses were led by the Telecoms and Consumer Goods & Services indices, falling 1.7% and 0.6%, respectively.
The QE Index rose 0.4% to close at 10,708.4. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.6% and 0.5%, respectively.
The QE Index rose 0.8% to close at 10,777.7. Gains were led by the Banks & Financial Services and Industrials indices, gaining 1.1% and 0.7%, respectively.
QNBFS Daily Market Report November 03, 2019QNB Group
The QE Index declined 0.9% to close at 10,189.0. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 1.0%, respectively.
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 September 08, 2021QNB Group
The QE Index declined marginally to close at 11,062.9. Losses were led by the Industrials and Transportation indices, falling 0.5% and 0.3%, respectively.
The QE Index rose 0.8% to close at 13,632.0. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 1.6% and 1.3%, respectively.
QNBFS Daily Market Report February 09, 2022QNB Group
The QE Index declined marginally to close at 12,673.0. Losses were led by the Transportation and Insurance indices, falling 0.8% and 0.5%, respectively.
The QE Index rose 0.4% to close at 13,383.4. Gains were led by the Banks & Financial Services and Transportation indices, gaining 0.5% and 0.3%, respectively.
The QE Index rose marginally to close at 13,770.1. Gains were led by the Banks & Financial Services and Telecoms indices, gaining 0.6% and 0.5%, respectively.
The QE Index declined 1.4% to close at 10,063.1. Losses were led by the Industrials and Banks & Financial Services indices, falling 1.2% and 0.8%, respectively.
The QE Index rose 0.4% to close at 10,401.4. Gains were led by the Banks & Financial Services and Insurance indices, gaining 1.1% and 0.5%, respectively.
The QE Index declined 0.4% to close at 13,628.9. Losses were led by the Industrials and Consumer Goods & Services indices, falling 0.5% and 0.3%, respectively.
The QE Index rose 1.5% to close at 10,920.7. Gains were led by the Industrials and Consumer Goods & Services indices, gaining 2.7% and 1.8%, respectively.
The QE Index declined 0.2% to close at 9,957.0. Losses were led by the Real Estate and Banks & Financial Services indices, falling 4.1% and 0.9%, respectively.
QNBFS Daily Market Report January 25, 2022QNB Group
The QE Index rose 0.3% to close at 12,523.3. Gains were led by the Consumer Goods & Services and Transportation indices, gaining 1.2% and 0.7%, respectively
QNBFS Daily Market Report December 24, 2023QNB Group
The QE Index rose 0.8% to close at 10,285.3. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.4% and 1.2%, respectively.
QNBFS Daily Market Report October 04, 2023QNB Group
The QE Index rose 0.2% to close at 10,273.3. Gains were led by the Transportation and Consumer Goods & Services indices, gaining 1.7% and 0.1%, respectively.
QNBFS Daily Technical Trader Qatar - October 04, 2023 التحليل الفني اليومي لب...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 28, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 24, 2023QNB Group
The QE Index rose 0.3% to close at 10,323.0. Gains were led by the Transportation and Industrials indices, gaining 0.8% each. Top gainers were Qatar Navigation and Al Khaleej Takaful Insurance Co., rising 3.3% and 2.0%, respectively.
QNBFS Daily Technical Trader Qatar - September 24, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 19, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 17, 2023QNB Group
The QE Index declined 0.5% to close at 10,319.3. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.4% and 1.1%, respectively.
QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to
sustain its breakout above the
double-bottom formation’s
neckline and continued with
its decline into the
formation’s territory.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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.
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.
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.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
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
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
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
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
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
1. Daily MarketReport
Thursday,07April2022
qnbfs.com
QSE Intra-Day Movement
Qatar Commentary
GCC Commentary
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Investment Holding Group 2.49 7.7 54,830.8 102.4
Qatar Oman Investment Company 0.90 3.8 9,779.8 10.3
Qatar Islamic Bank 25.30 3.5 6,780.8 38.0
Masraf Al Rayan 5.44 3.0 36,424.1 17.2
Baladna 1.68 2.8 100,361.2 16.4
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Baladna 1.68 2.8 100,361.2 16.4
Salam International Inv. Ltd. 1.11 (2.3) 65,469.1 35.9
Investment Holding Group 2.49 7.7 54,830.8 102.4
Masraf Al Rayan 5.44 3.0 36,424.1 17.2
Qatar Aluminium Manufacturing
Co.
2.58 1.2 31,743.0 43.3
Market Indicators 06 Apr 22 05 Apr 22 %Chg.
Value Traded (QR mn) 1,582.9 772.0 105.0
Exch. Market Cap. (QR mn) 776,613.7 767,781.0 1.2
Volume (mn) 493.1 327.3 50.6
Number of Transactions 34,195 14,832 130.5
Companies Traded 45 45 0.0
Market Breadth 22:18 31:9 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 28,311.38 1.5 2.5 23.0 18.2
All Share Index 4,429.55 1.4 2.3 19.8 182.0
Banks 6,026.69 2.4 3.2 21.4 18.9
Industrials 5,217.17 0.1 0.7 29.7 16.9
Transportation 4,006.30 0.2 (0.2) 12.6 14.8
Real Estate 1,945.96 0.3 3.9 11.8 22.2
Insurance 2,645.35 (1.0) 0.2 (3.0) 17.8
Telecoms 1,092.61 (0.1) (0.2) 3.3 69.3
Consumer 8,841.47 1.0 3.2 7.6 24.1
Al Rayan Islamic Index 5,639.75 1.0 2.1 19.6 15.3
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000
YTD
%
Saudi Telecom Co. Saudi Arabia 113.20 4.6 6,144.7 0.7
Ahli United Bank Bahrain 1.17 4.0 1,410.3 25.3
Arab National Bank Saudi Arabia 28.95 3.9 1,542.1 26.6
Bank Al Bilad Saudi Arabia 64.90 3.8 1,804.1 40.0
Alinma Bank Saudi Arabia 41.80 3.7 18,386.6 74.5
GCC Top Losers##
Exchange Close#
1D% Vol.‘000
YTD
%
Acwa Power Co. Saudi Arabia 156.80 (10.0) 6,438.7 86.7
Saudi Arabian Mining Co. Saudi Arabia 143.20 (2.7) 2,479.1 82.4
Sahara Int. Petrochemical Saudi Arabia 52.50 (2.6) 3,198.0 25.0
Arabian Centers Co. Ltd Saudi Arabia 22.26 (2.2) 862.9 (1.4)
Adnoc Drilling Abu Dhabi 3.56 (1.9) 10,309.7 4.7
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%
Qatar Islamic Insurance Company 8.69 (5.5) 512.4 8.6
Dlala Brokerage & Inv. Holding Co. 1.56 (2.5) 5,806.1 26.3
Salam International Inv. Ltd. 1.11 (2.3) 65,469.1 35.9
Ahli Bank 3.92 (2.0) 176.5 7.5
Al Khaleej Takaful Insurance Co. 3.91 (1.5) 532.9 8.5
QSE Top Value Trades Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 5.44 3.0 196,968.4 17.2
Qatar Islamic Bank 25.30 3.5 170,816.2 38.0
Baladna 1.68 2.8 165,643.0 16.4
Investment Holding Group 2.49 7.7 134,934.3 102.4
The Commercial Bank 7.58 1.0 92,606.9 12.3
Regional Indices Close 1D% WTD% MTD% YTD% Exch. Val. Traded ($ mn) Exchange Mkt. Cap. ($ mn) P/E** P/B** Dividend Yield
Qatar* 13,875.92 1.5 2.5 2.5 19.4 435.19 212,714.5 18.2 2.0 3.1
Dubai 3,499.79 (0.1) (0.8) (0.8) 9.5 135.80 118,326.5 16.7 1.2 2.7
Abu Dhabi 10,080.23 (0.2) 1.2 1.2 18.6 454.39 491,160.9 25.3 2.6 1.9
Saudi Arabia 13,255.96 0.4 1.3 1.3 17.5 4,236.38 3,189,446.7 21.4 2.4 2.5
Kuwait 8,253.53 1.2 1.3 1.3 17.2 260.62 156,253.7 21.6 1.9 2.1
Oman 4,143.02 0.1 (1.5) (1.5) 0.3 8.73 19,364.6 11.9 0.8 4.9
Bahrain 2,119.33 1.2 2.2 2.2 17.9 15.88 33,569.8 8.9 1.0 4.6
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
13,600
13,800
14,000
14,200
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
Saudi Arabia: The TASI Index gained 0.4% to close at 13,256.0. Gains were led by
the Telecommunication Services and Food & Beverages indices, rising 3.7% and
2.1%, respectively. National Agricultural Development Co. rose 10.0%, while Saudi
Arabian Cooperative Insurance Co. was up 8.2%.
Dubai: The DFM Index fell 0.1% to close at 3,499.8. The Telecommunication index
declined 1.2%, while the Banks index fell 0.8%. Gulf Navigation Holding declined
2.2%, while Union Properties was down 2.0%.
Abu Dhabi: The ADX General Index declined 0.2% to close at 10,080.2. The Utility
index fell 1.6%, while The Healthcare index was down 1.3%. Waha Capital declined
4.9%, while AL Seer Marine Supplies & Equipment Co. was down 2.7%.
Kuwait: The Kuwait All Share Index gained 1.2% to close at 8,253.5. The
Technology index rose 6.5%, while the Telecommunications index gained 2.8%.
Fujairah Cement Industries Co. rose 25.8%, while Arabi Group Holding Co. was up
11.5%.
Oman: The MSM 30 Index gained 0.1% to close at 4,143.0. Gains were led by the
Financial and Services indices, rising marginally. Dhofar Generating Company rose
9.1%, while Gulf International Chemicals was up 8.8%.
Bahrain: The BHB Index gained 1.2% to close at 2,119.3. The Financial index rose
1.9%. Ahli United Bank rose 4.0%, while Bank of Bahrain & Kuwait was up 0.2%.
The QE Index rose 1.5% to close at 13,875.9. Gains were led by the Banks &
Financial Services and Consumer Goods & Services indices, gaining 2.4% and 1.0%,
respectively. Top gainers were Investment Holding Group and Qatar Oman
Investment Company, rising 7.7% and 3.8%, respectively. Among the top losers,
Qatar Islamic Insurance Company fell 5.5%, while Dlala Brokerage & Inv. Holding
Co. was down 2.5%.
2. Daily MarketReport
Thursday,07April2022
qnbfs.com
Qatar Market Commentary
• The QE Index rose 1.5% to close at 13,875.9. The Banks & Financial Services
and Consumer Goods & Services indices led the gains. The index rose on the
back of buying support from GCC and Foreign shareholders despite selling
pressure from Qatari and Arab shareholders.
• Investment Holding Group and Qatar Oman Investment Company were the
top gainers, rising 7.7% and 3.8%, respectively. Among the top losers, Qatar
Islamic Insurance Company fell 5.5%, while Dlala Brokerage & Inv. Holding
Co. was down 2.5%.
• Volume of shares traded on Wednesday rose by 50.6% to 493.1mn from
327.3mn on Tuesday. Further, as compared to the 30-day moving average of
302.2mn, volume for the day was 63.2% higher. Baladna and Salam
International Inv. Ltd. were the most active stocks, contributing 20.4% and
13.3% to the total volume, respectively.
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 38.17% 46.74% (135,703,211.3)
Qatari Institutions 15.72% 26.66% (173,051,141.0)
Qatari 53.89% 73.40% (308,754,352.3)
GCC Individuals 0.84% 0.91% (1,192,113.4)
GCC Institutions 4.31% 0.74% 56,524,181.6
GCC 5.15% 1.65% 55,332,068.3
Arab Individuals 10.82% 11.54% (11,320,609.2)
Arab Institutions 0.00% 0.00% -
Arab 10.82% 11.54% (11,320,609.2)
Foreigners Individuals 2.75% 3.17% (6,597,941.8)
Foreigners Institutions 27.39% 10.25% 271,340,835.0
Foreigners 30.15% 13.42% 264,742,893.2
Source: Qatar Stock Exchange (*as a % of traded value)
Earnings Releases, Global Economic Data and Earnings Calendar
Earnings Releases
Company Market Currency
Revenue
(mn)
4Q2021
% Change
YoY
Operating Profit
(mn) 4Q2021
% Change
YoY
Net Profit
(mn) 4Q2021
% Change YoY
Methaq Takaful Insurance Company Abu Dhabi AED 301.6 6.9% 202.9 22.5% 7.6 -8.2%
Abu Dhabi Ports Company Abu Dhabi AED 3,909.7 14.2% 1,899.0 6.6% 846.0 114.5%
Abu Dhabi National Co. for Building Materials Abu Dhabi AED 31.1 -37.7% 0.8 -77.0% 42.1 -57.3%
Source: Company data: DFM, ADX, MSM, TASI, BHB. (#Values in Thousands, *Financial for FY2021)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
06/04 US Mortgage Bankers Association MBA Mortgage Applications 01-Apr -6.30% N/A -6.80%
06/04 Germany Deutsche Bundesbank Factory Orders MoM Feb -2.20% -0.30% 1.80%
06/04 Germany Markit S&P Global Germany Construction PMI Mar 50.9 N/A 54.9
06/04 China Markit Caixin China PMI Composite Mar 43.9 N/A 50.1
06/04 China Markit Caixin China PMI Services Mar 42 49.7 50.2
06/04 India Markit S&P Global India PMI Composite Mar 54.3 N/A 53.5
06/04 India Markit S&P Global India PMI Services Mar 53.6 N/A 51.8
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 1Q2022 results No. of days remaining Status
QNBK QNB Group 11-Apr-22 4 Due
QIBK Qatar Islamic Bank 12-Apr-22 5 Due
QNCD Qatar National Cement Company 13-Apr-22 6 Due
QFLS Qatar Fuel Company 13-Apr-22 6 Due
QEWS Qatar Electricity & Water Company 17-Apr-22 10 Due
ABQK Ahli Bank 19-Apr-22 12 Due
MKDM Mekdam Holding Group 20-Apr-22 13 Due
NLCS Alijarah Holding 21-Apr-22 14 Due
IGRD Investment Holding Group 25-Apr-22 18 Due
QLMI QLM Life & Medical Insurance Company 25-Apr-22 18 Due
MCCS Mannai Corporation 26-Apr-22 19 Due
VFQS Vodafone Qatar 26-Apr-22 19 Due
QIMD Qatar Industrial Manufacturing Company 26-Apr-22 19 Due
QCFS Qatar Cinema & Film Distribution Company 27-Apr-22 20 Due
AKHI Al Khaleej Takaful Insurance Company 27-Apr-22 20 Due
Source: QSE
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Qatar
Masraf Al-Rayan to holds its AGM and EGM on April 26 for the year 2021
– Masraf Al-Rayan announces that the General Assembly Meeting AGM
and EGM will be held on 26/04/2022, Electronically via Zoom at 09:00
PM. In case of not completing the legal quorum, the second meeting will
be held on 27/04/2022, physically at the Ritz Carlton Hotel Doha and
Electronically via Zoom as well at 09:00 PM. (QSE)
Vodafone Qatar to disclose its Q1 financial results on April 26 –
Vodafone Qatar to disclose its financial statement for the period ending
31st March 2022 on 26/04/2022. (QSE)
Vodafone Qatar holds its investors relation conference call on April 27 to
discuss the financial results – Vodafone Qatar announced that the
conference call with the Investors to discuss the financial results for Q1
2022 will be held on 27/04/2022 at 12:00 PM, Doha Time. (QSE)
Ezdan Holding Group opens nominations for its board membership 2022–
Ezdan Holding Group announced the opening of nominees for the board
memberships, for the period of 2022 to 2024. Applications will be
accepted starting from 10/04/2022 till 02:00 PM of 14/04/2022. (QSE)
Al Rayan Qatar ETF to disclose its financial statements for the period
ending 31 March 2022 on 21 April – Al Rayan Qatar ETF announced that
it will disclose its financial statements for the period ending 31 March
2022 on 21 April 2022. (QSE)
Salam International Board of directors meeting on April 26 – Salam
International has announced that its Board of Directors will be holding a
meeting on 26/04/2022 to discuss the and approve the financial
statements for the period ending on 31/03/2022, and to follow up on the
implementation of previous resolutions. (QSE)
Mekdam Holding Group to disclose its Q1 financial result on April 20 –
Mekdam Holding Group to disclose its financial statement for the period
ending 31st March 2022 on 20/04/2022. (QSE)
Mannai Corporation to disclose its Q1 financial results on April 26 –
Mannai Corporation to disclose its financial statement for the period
ending 31st March 2022 on 26/04/2022. (QSE)
Mannai Corporation Board of directors meeting to be held on April 26 –
The Mannai Corporation has announced that its Board of Directors will
be holding a meeting on 26/04/2022 to discuss electing the Chairman
and Vice-Chairman of the Board and form Board Committees following
the election of the new Board by the General Assembly held on the same
date, and to review the financial performance and approve the financial
statements of the 1st Quarter ending on 31st March 2022. (QSE)
Widam Food Company the EGM endorses items on its agenda – Widam
Food Co. announced the results of the EGM. The meeting was held on
06/04/2022 and the following resolutions were approved: 1-The EGM
approved the amendment of some articles of the company’s Articles of
Association in accordance with Law No. (8) of 2021 amending Law No.
(11) of 2015 regarding the Commercial Companies Law 2-The EGM
Authorized the Chairman and Vice-Chairman of the Board of Directors to
sign (one of them solo) the amended Articles of Association of the
company before the competent authorities, take all necessary actions in
order to implement the decisions of the EGM. (QSE)
Qatar Islamic Bank signs an agreement – Qatar Islamic Bank (QIBK)
signed a new Al Dhameen Program Agreement sponsored by Qatar
Development Bank. The agreement was signed by Mr. Tarek Fawzi,
QIBK’s Wholesale Banking Group General Manager and Mr. Khalid
Abdulla Al-Mana, Executive Director of Business Finance at Qatar
Development Bank. Qatar Development Bank (QDB) announced new
updates to Al Dhameen program, for small and medium-sized companies,
to encourage partner banks to finance projects, with the aim of
attracting promising start-ups and small and medium-sized companies
seeking financing to develop their businesses. QDB has announced the
launch of a new version of the ‘Al Dhameen’ program for micro-
enterprises, for the first time in the country, which will contribute to the
development of the national business system in terms of access to
financing and will also provide new financial channels for guarantees for
micro-enterprises in co-operation with partner financial institutions.
According to the new agreement, SME customers at QIBK can benefit
from Al Dhameen Portfolio to obtain financing equivalent to 70% of the
value of the project, with a maximum of QR15mn for each project. Small
and medium enterprises can also obtain the required financing at
competitive financing rates. The agreement also encourages partner
banks to expand the process of financing SMEs by providing them with
sufficient guarantees through the "Al Dhameen" Program. (QSE)
Dlala Brokerage and Investment Holding Co. discloses the judgment in
the lawsuit for one of the subsidiaries – Dlala Brokerage and Investment
Holding Co. disclosed the judgment in lawsuit no 5638 A preliminary
ruling was issued in favor of Dlala Brokerage Company, a subsidiary of
Dlala Brokerage and Investment Holding Company, which states the
following: 1. Obligatorily the defendant to pay the plaintiff company an
amount of (2,961,611) two million nine hundred and sixty-one thousand
six hundred and eleven Qatari Riyals which is the remaining
indebtedness owed to the plaintiff company. 2. Obligatorily the
defendant to pay the plaintiff company an amount of (300,000) three
hundred thousand Riyals as compensation for the damage and obligated
him to pay the expenses. (QSE)
Minister: Qatar confidently advancing to achieve QNV 2030 – Under the
patronage and in the presence of Minister of Commerce and Industry HE
Sheikh Mohammed bin Hamad bin Qassim Al Thani, the Ministry of
Commerce and Industry organized today its annual ceremony, under the
theme ‘2021’s Harvest’. The event was organized to celebrate the
Ministry’s achievements in 2021, to shed light on priorities and
upcoming projects for 2022, as well as to recognize the Ministry’s
employees across all administrative units. The ceremony was attended
by the Ministry’s senior officials and heads of departments, as well as a
large number of employees. The annual event aims to foster cooperation
between the senior leadership and employees, enhancing loyalty and
teamwork in the workplace, as well as highlighting the achievements of
the Ministry’s various administrative units. During his speech, the
Minister of Commerce and Industry stressed the importance of this
annual meeting, as it highlights key achievements and future projects,
and honors the Ministry’s dedicated team. He added that Qatar
continues to confidently advance towards the realization of Qatar
National Vision (QNV) 2030, in line with the aims set out by Amir HH
Sheikh Tamim bin Hamad Al Thani. This includes a commitment to
excellence in all fields, and to establishing a development trajectory that
consolidates Qatar as a regional leader in the economic, trade, and
investment fields. (Peninsula Qatar)
QCB issues T-Bills worth QR600mn for April – Qatar Central Bank (QCB)
on Wednesday issued treasury bills (T-Bills) for April, for three, six and
nine months, with a value of QR600mn. In a statement on its website,
QCB said that the treasury bills were distributed as follows: QR300mn for
three months at an interest rate of 0.75%, QR200mn for six months at an
interest rate of 1.00%, and QR100mn for nine months at an interest rate
of 1.15%. This issuance is part of a series of issues executed by Qatar
Central Bank on behalf of the Government of Qatar and in accordance
with the schedule prepared by both Qatar Central Bank and the Ministry
of Finance. Treasury bills are issued through an auction for banks
operating in Qatar. (Qatar Tribune)
Uber Qatar explores launch of bus-booking, carpooling services during
FIFA World Cup – Uber Qatar is currently exploring the launch of its
Uber Bus and UberPool services to accommodate the influx of riders
across the country during the upcoming FIFA World Cup 2022, Country
Manager of Uber Qatar Nasser Al Sharshani has said. Speaking at the
Smart City Expo Doha 2022 recently, Al Sharshani said the ride-hailing
company - dubbed as the largest mobility platform in the world – has
been exploring the launch of new products as part of its short-term and
long-term plans in the Qatari market. “We’re currently discussing and
exploring launching a couple of products during the World Cup, such as
the Uber Bus and UberPool, where we are encouraging transport
efficiency through mass transportation and shared transportation. This
is in the short-term. When it comes to the long-term, launching Uber-
Green or transition to electric vehicles (EVs) is definitely one of the key
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objectives that we are exploring with key stakeholders here,” Al
Sharshani said. (Peninsula Qatar)
High energy prices set to boost Qatar’s energy sector says report –
Qatar’s energy sector is likely to receive a boost in the short, medium and
long term from the Ukraine war, thanks to higher energy prices and with
several European countries in talks with Qatar over new gas supply
deals, FocusEconomics has said in a report released recently. The
economy recorded a mild expansion in the fourth quarter of 2021, the
report said citing recent data. The non-energy sector drove the reading,
buoyed by the easing of restrictions, with the transport and hospitality
subsectors growing by double digits. Meanwhile, the energy sector
recorded softer growth. Turning to the first quarter of 2022, the report
said, January saw a slight lull in non-energy activity due to surging
COVID-19 cases, although momentum seemed to recover in February
according to PMI data as caseloads fell. Moreover, a further rollback of
COVID-19 restrictions from mid-March should have aided non-energy
activity at the end of the quarter. (Qatar Tribune)
Ooredoo Money bags MoneyGram award – Ooredoo, Qatar’s leading
provider of ICT services, has announced its digital financial service
Ooredoo Money has been honored by its partner MoneyGram. Ooredoo
Money has once again-for the third consecutive year been named
“Partner of The Year” by MoneyGram. The award recipient is selected
from among its top performing partners globally at the end of the year.
The accolade recognizes Ooredoo Money’s delivery of strong growth
over the past three years, and its status as the leading financial lifestyle
app in Qatar. The MoneyGram regional team presented senior
representatives of Ooredoo Money with the prestigious award at a
ceremony held at Ooredoo Tower, West Bay, on 29 March 2022.
(Peninsula Qatar)
Qatari official: Visit to Seattle highlights deep economic ties – The US-
Qatar Business Council (USQBC), in partnership with Greater Seattle
Partners, District Export Council, and World Trade Center Seattle, has
organized a business visit to Seattle, Washington to engage with key
policy makers and the local business community to expand and enhance
economic partnerships between the State of Qatar and the State of
Washington. The business visit featured the following representatives:
Mansoor al-Sulaitin, Consul General of Qatar; Fahad al-Dosari, Qatar
Commercial Attaché to the US, and Mohamed Barakat, USQBC
managing director and treasurer of the board of directors; Josh Davis,
vice president Global Trade and Investment, Greater Seattle Partners,
and David Woodward, chair, Washington District Export Council. During
the ‘Business Seminar & Breakfast’ hosted by USQBC at the World Trade
Center Seattle, participants were able to network, learn, and explore
business opportunities between Washington and Qatar. This was
followed by a business lunch hosted by Greater Seattle Partners, which
was attended by key representatives of Washington State’s business
and policy communities. (Gulf Times)
MOCI aims development trajectory to consolidate Qatar as a regional
leader in the economic, trade, investment fields – The Ministry of
Commerce and Industry has organized its annual ceremony, under the
theme ‘2021’s Harvest’, shedding light on priorities and upcoming
projects for 2022, as well as to recognize the ministry's employees across
all administrative units. During the meeting, HE Sheikh Mohamed bin
Hamad bin Qassim al-Thani, the Minister of Commerce and Industry,
said the country continues to confidently advance towards the
realization of the Qatar National Vision 2030. "This includes a
commitment to excellence in all fields, and to establishing a
development trajectory that consolidates Qatar as a regional leader in
the economic, trade and investment fields," he said. In this regard, he
said the ministry contributed to the implementation of a comprehensive
economic program that successfully consolidated the national economy,
in alignment with the Qatar National Development Strategy 2018-2022
priorities. (Gulf Times)
Ahlibank, QDB sign enhanced ‘Al-Dhameen’ program to support SMEs,
MSMEs – Ahlibank and Qatar Development Bank (QDB) have signed the
enhanced Al-Dhameen Program agreement to support small and medium
enterprises (SMEs) and micro-enterprises in Qatar. Ahlibank’s SME
customers will benefit from the program, which will enable them to
access financing solutions while benefiting with up to 100% guarantee
from QDB. The enhanced Al Dhameen Program aims at attracting
promising start-ups and SMEs seeking financing to develop their
businesses which will contribute to the development of the national
business system. (Gulf Times)
International
Fed officials to take cleaver to balance sheet; 'many' back big rate hikes –
Federal Reserve officials in March "generally agreed" to cut up to $95bn a
month from the central bank's asset holdings as another tool in the fight
against surging inflation, even as the war in Ukraine tempered the first
US interest rate increase. Minutes of the Fed's March 15-16 meeting
showed deepening concern among policymakers that inflation had
broadened through the economy, which convinced them to not only
raise the target policy rate by a quarter of a percentage point from its
near-zero level but also to "expeditiously" push it to a "neutral posture,"
estimated to be around 2.4%. "Many" Fed officials said they were
prepared to raise rates in half-percentage-point increments in coming
policy meetings to try to bring prices under control, even though the
rising risks tied to the Ukraine war held them to the standard hike in
March, according to the minutes, which were released on Wednesday.
However, they also moved forward with plans to pull out of key financial
markets that have been benefiting from massive Fed support since
March of 2020, when the coronavirus pandemic prompted the central
bank to buy trillions of dollars in Treasury bonds and mortgage-backed
securities (MBS). After months of debate, policymakers rallied around a
plan to reduce the Fed’s holdings of Treasury bonds as soon as next
month by up to $60bn per month and its MBS holdings by up to $35bn
per month, with the amounts phased in over three months or slightly
longer, the minutes said. The pace of the planned balance-sheet
rundown, which should have the effect of increasing long-term interest
rates, is nearly double that of the Fed's "quantitative tightening" from
2017 to 2019 and could also include outright sales of MBS down the road,
said the minutes. "All participants agreed that elevated inflation and
tight labor market conditions warranted commencement of balance
sheet runoff." The details of the balance sheet program included in the
minutes are in line with analysts' expectations and pave the way for it to
be set in motion after the Fed's May 3-4 policy meeting. The Fed unveiled
its bond-buying program in the spring of 2020, swelling its holdings of
Treasuries and MBS from $3.8tn to $8.5tn. Yields on US Treasury
securities ticked higher after the release of the minutes, with the 10-year
note yield climbing to 2.6%, while the dollar rose to its highest level
since late May against a basket of currencies. Major US stock indexes
closed the session sharply lower. "I don't think there's anything material
that would garner a change in sentiment, as opposed to yesterday where
there was a real change and I think it really spooked investors," said Alan
Lancz, president of Alan B. Lancz and Associates in Toledo, Ohio,
referring to comments made by Fed Governor Lael Brainard on Tuesday.
Brainard told a Minneapolis Fed conference that she expected a
combination of interest rate increases and a rapid balance sheet runoff to
bring US monetary policy to a "more neutral position" later this year,
with further tightening to follow as needed. (Reuters)
Survey: UK households' financial situation worst since Q2 2020 – British
households’ financial situation is now the most precarious since the
depths of the COVID-19 pandemic in the second quarter of 2020, due to a
surging cost of living, a survey showed on Wednesday. Pensions
company Scottish Widows, part of Lloyds Banking Group, said 60% of
households had been unable to save more during the pandemic, and that
those households which had savings were now running them down at
the fastest rate in nine years. “Over 70% of households will need to eat
into their savings in the next 12 months in order to meet their growing
expenses,” Emma Watkins, a managing director at Scottish Widows,
said. British consumer price inflation hit a 30-year high of 6.2% in
February and the government’s budget watchdog forecasts it will peak
at a 40-year high of 8.7% towards the end of this year, due to surging
energy costs and broader price rises. The budget watchdog also said the
fall in real incomes would be the greatest since records began in 1956 as
wages failed to keep pace with prices. Polling company Ipsos MORI
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surveyed 4,500 people aged 18-64 between Jan. 27 and March 8 for
Scottish Widows. (Reuters)
China issues draft financial stability law to prevent systemic risks –
China on Wednesday issued a draft law on financial stability in a bid to
further strengthen safety nets to prevent systemic financial risks in the
world's second biggest economy. China will establish a financial stability
protection fund to beef up its ability to cope with major financial risks
and set up a comprehensive cross-agency mechanism for risk detection
and disposal, the central bank said. "In the face of complex economic and
financial situations at both home and abroad, it is necessary to
proactively set up an authoritative and efficient system to prevent,
resolve financial risks, and prepare for rainy days," the People's Bank of
China (PBOC) said in a statement on its website. China's economy is
slowing amid resurgence in COVID-19 cases, a sluggish property market,
and the fallout from the Ukraine crisis, straining the finances of already
heavily indebted local governments. China's financial stability fund, to
be used to tackle major systemic risks, would be financed by the
country's financial institutions and financial infrastructure operators.
The PBOC can also provide liquidity support to the fund when needed,
according to the draft law. However, financial institutions and their
major shareholders must rescue themselves first, before seeking external
help, to minimize reliance on public money, the PBOC said. Meanwhile,
the risk-disposal mechanism, to be headed by the finance committee of
China's State Council, or cabinet, puts more onus on financial
institutions, local governments, and financial regulators to head off
financial risks. Mismanagement at financial institutions, and misuse of
capital by their shareholders contributed largely to financial risks in the
past, the PBOC said. The draft law, which seeks public opinions, was
jointly published by seven government agencies, including the PBOC,
the finance ministry, and China's banking, securities, and foreign
exchange regulators. (Reuters)
IMF cuts Japan's growth forecast on hit from Ukraine war fallout – The
International Monetary Fund (IMF) cut Japan’s economic growth
forecast on Thursday and urged policymakers to consider preparing a
contingency plan in case the Ukraine crisis derails a fragile recovery.
While rising commodity costs could push up inflation, the Bank of Japan
(BOJ) must maintain ultra-easy policy for a prolonged period to
sustainably hit its 2% inflation target, the IMF said in a staff report after
its article 4 policy consultations with Japan. “Escalation of the Ukraine
conflict poses significant downside risks to the Japanese economy,” the
IMF said, pointing to the potential hit to trade and noting that rising
commodity prices could stifle domestic demand. “In view of elevated
uncertainty including from the pandemic and the conflict in Ukraine, the
authorities could consider preparing a contingency plan that is readily
implementable” in case its economy faces a severe shock, it said. The
IMF said it now expects Japan’s economy to grow 2.4% this year, lower
than a projection for 3.3% expansion made in January, due to an
expected contraction in the first quarter and the spillover effects of the
Ukraine war. Domestic demand will likely slow from surging commodity
prices, while geo-political tensions and a sharper-than-expected
slowdown in China’s growth were risks to exports, it said. On prices, the
IMF said Japan will likely see inflation momentum pick up on higher
commodity prices, and an expected rebound in consumption as
coronavirus infection cases fall. “A prolonged period of monetary policy
accommodation will be required,” however, as headline consumer
inflation is expected to stay at 1.0% this year, it said. The IMF repeated
its recommendation for the BOJ to make its policy more sustainable, such
as by steepening the yield curve by targeting a shorter maturity than the
current 10-year yield. The BOJ said it saw no need to adjust its current
framework and “expressed concern” over the IMF’s recommendation to
shorten the yield curve target, according to the staff report. Under a
policy dubbed yield curve control (YCC), the BOJ guides short-term
interest rates at -0.1% and the 10-year government bond yield around
0%. The 10-year yield cap has been criticized by some analysts for
flattening the yield curve and crushing the margin of financial
institutions. The IMF released the final version of its article 4 staff
report, signed off by its executive board, after issuing a preliminary
finding in January. (Reuters)
Regional
GCC ‘green finance’ sector has potential to unlock $2tn GDP, over 1mn
jobs – GCC governments have the potential to unlock $2tn in cumulative
GDP (gross domestic product) contribution and more than one million
jobs in addition to foreign direct investment in sustainable industries
through green finance, experts said. While no commonly agreed
definition exists, basically “green finance” is used to label the two-way
interaction between finance and the environment. The aim is to use the
investment to mitigate and manage environmental risks, while aiding
the transition to a sustainable, low carbon global economy, according to
green finance pundits. (Bloomberg)
Coca-Cola bottlers in 4 GCC countries certified as great place to work –
Gulf Coca-Cola Beverages said that Coca-Cola’s bottlers in UAE, Bahrain,
Qatar and Oman have been certified as a Great Place to Work in all four
countries, with the UAE placed in the top 15% of large companies for the
2021-22 rankings. Ranking 17th on the list the UAE entity, Coca-Cola Al
Ahlia Beverages Company (CCABC) was one of 125 organizations in
UAE, seven in Bahrain, 23 in Qatar and four in Oman to be certified. The
certification was received after a thorough and independent analysis
conducted by Great Place to Work® Middle East, and results were based
on direct feedback from employees, provided as part of an extensive and
anonymous survey about the workplace experience. (Zawya)
Abu Dhabi’s non-oil GDP grows by 4.1% – Abu Dhabi's non-oil real gross
domestic product (GDP) grew by 4.1% in 2021 as the economy rebounded
on the back of strong domestic demand. Overall, the emirate’s GDP at
constant prices expanded by 1.9 % during the year, the Statistics Centre
– Abu Dhabi (SCAD) said. As of 2021, the emirate’s real GDP value was
worth 1tn Dirhams ($272bn). The growth in the non-oil economy was
led by the agriculture, forestry and fishing sector, where activity
accelerated by 23.1%, followed by manufacturing, which grew by 21.7%.
(Zawya)
UAE consumer prices accelerate; economic growth to hit 4.2% in 2022 –
The prices of consumer goods and services in the UAE accelerated in the
past few months and continue to face upward risks this year due to the
Russia-Ukraine crisis, but the economy is poised to improve further,
according to a new report. The headline consumer price index (CPI)
inflation stood at 3.3% in the first quarter of 2022 after reaching 2.3% in
the last quarter of 2021, and could average around 2.7% for the whole
year, the UAE Central Bank said in its latest quarterly review. The real
gross domestic product (GDP), a measure of goods and services produced
by a nation, grew 2.3% during 2021 and is on track to hit 4.2% this year.
Conditions are also looking positive on the labor front, with the
employment rate rising by 3.1% YoY in December 2021 and average
salary rising by 7.8%. According to the central bank, the main drivers for
inflation this year would be the increase in energy prices, imported
inflation and rising wages, although housing rents are expected to
continue their decline. (Zawya)
Dubai utility DEWA to raise $6.1bn in biggest Gulf IPO since 2019 –
Dubai Electricity and Water Authority (DEWA) is set to raise 22.32bn
Dirhams ($6.1bn) after pricing its initial public offering at the top of the
range on Wednesday, in the Gulf's biggest IPO since Saudi Aramco's
record deal in 2019. DEWA will add to growing volume from issuers in
the Gulf, where $3.5bn has been raised from IPOs this year, data from
Refinitiv shows, exceeding European listings even as global markets
remain volatile after Russia's invasion of Ukraine. Dubai's deputy ruler
and finance minister Sheikh Maktoum Bin Mohammed said in a tweet
that DEWA had attracted 315bn Dirhams of demand for the IPO, with
buyers including sovereign wealth funds, private fund and 65,000
individual investors. State utility DEWA had set an indicative price
range of 2.25 Dirhams to 2.48 Dirhams, with the top level expected to
raise 22.32bn dirhams for the Dubai government.(Reuters)
Oman's revenues surge by 75% – Oman’s total revenues surged ahead by
75.6% to around OMR1.918bn at the end of February 2022 over the
revenue collected in the corresponding period in 2021.This was unveiled
by the Financial Economic Bulletin (FEB) issued by the Ministry of
Finance, which attributed the high surplus to a surge in oil price
averaging $81 a barrel, and also increased oil production even as the gas
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revenues touched OMR509mn. Higher collections from Value-Added Tax
(VAT) and other fees contributed to raise the revenues by 29.6% at the
end of February 2022 over the corresponding period in 2021, according to
the FEB. Public spending at the end of February 2022 was around
OMR1.707bn and this was driven by a rise in the repayment of loan
interests, total investment expenditures (development and capital) of
civil ministries and expenses on gas transport and procurement. The
state’s budget continued to achieve financial surplus at the end of
February 2022, amounting to around OMR210mn, a whopping rise from
the OMR457mn financial deficit in the corresponding period in 2021.
(Zawya)
Preparations for rail project begin in Oman – As part of its efforts to
revitalize the economic movement and achieve Oman Vision 2040, the
Ministry of Housing and Urban Planning (MoHUP) announced its plan to
begin compensating the citizens affected by the railway project
construction in Buraimi governorate. The ministry issued a notice for
property owners affected by the railway project in the wilayats of
Buraimi governorate on Tuesday. ‘The citizens, whose properties are
affected, should review it and bring the original passport and original
title deed of the property to the ministry during the official working
days.’ (Zawya)
Over 17,000 Omani job seekers register in 'Sahem' initiative – Within 48
hours, more than 17,000 Omani job seekers have registered in the
'Sahem' initiative. According to the data showed by the Ministry of
Labor, the number of applicants for the 'Sahem' initiative within 48
hours since the start of the announcement has reached 17,604 including
3,326 from North Al Batinah Governorate, 2,695 from Muscat
Governorate, 1,675 from Dhofar Governorate, and 1,200 from Al
Dhahirah Governorate. According to the Ministry, the number of
applicants from Al Dakhiliyah Governorate reached 2,438, 1,999 from
South Al Batinah Governorate, 391 from Al Wusta Governorate, 748
from Al Buraimi Governorate, 1,431 from South Al Sharqiyah
Governorate, 1,552 from North Al Sharqiyah Governorate, and 149 from
Musandam Governorate. The Labor Ministry has launched on Sunday,
April 3, 2022, Sahem initiative which is the first of its kind in 2022 to
provide 2,216 job vacancies under the temporary contract work system
in government agencies in various governorates in Oman. The initiative
was launched to encourage job seekers to use their skills, abilities and
scientific expertise to develop the governorates, develop the economy
and open investment areas. (Zawya)
Oman’s revenues, budget surplus surge on high oil prices – Oman saw its
revenues and budget surplus surge last month, as oil prices almost
doubled, according to data from the Ministry of Finance. Total public
revenue amounted to 1.918bn Riyals ($4.981bn) at the end of February,
up by 75.6% compared to the same period last year. The country’s net oil
revenue jumped 81.4% to 1.094bn Riyals, while gas revenue expanded
116.6 % to 509mn riyals, the ministry said in its monthly bulletin.
Budget surplus also reached 210mn Riyals at the end of last month,
compared to a deficit of 457mn Riyals over the same period in 2021. Oil
prices averaged $81 per barrel during the period, nearly double the $42
average recorded a year ago. The country has ramped up its oil
production, rising to more than 1mn barrels per day from 953,000 barrels
per day in the previous year. At the end of February, public spending also
went up by 10.2% to 1.707bn Riyals. S&P Global has recently upgraded
Oman’s foreign and local currency sovereign credit ratings from “B+” to
“BB-“with a stable outlook for the first time since 2015. The rating
upgrade is a result of improved fiscal and debt trajectory of the country.
(Zawya)
Kuwaitis and non-GCC Arabs top the employees in govt sector – The
percentage of Kuwaitis working in the government sector has reached
80% of the total employees in this sector, reports Al-Qabas daily.
According to statistics issued by the Central Statistical Bureau on the
labor market, employees from Arab countries (excluding the Gulf
countries) ranked second after Kuwaitis in the government sector, with a
total of 45,809, or 10.4 % of the total government sector employees.
Their percentage is the highest compared to employees from other
countries. The number of employees from non-Arab Asian countries
reached a total of 34,181, i.e. 7.8 % of the total employees. (Bloomberg)
8. qnbfs.com
Daily MarketReport
Thursday,07April2022
Contacts
QNB Financial Services Co. W.L.L.
Contact Center: (+974) 4476 6666
info@qnbfs.com.qa
Doha, Qatar
Saugata Sarkar, CFA, CAIA
Head of Research
saugata.sarkar@qnbfs.com.qa
Shahan Keushgerian
Senior Research Analyst
shahan.keushgerian@qnbfs.com.qa
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