The QSE Index declined 0.4% led by losses in the Insurance and Transportation indices. Qatar General Insurance and Qatar Insurance Company were the top losers falling 6.9% and 3.6% respectively. Meanwhile, Qatari Investors Group gained 1.6%. Trading volume rose 23% to 6.8mn shares traded. News articles discuss Qatar allocating QR20bn for infrastructure projects, its economy expected to grow 2.6% in 2018, and Hassad Food establishing a new subsidiary to provide marketing support to Qatar's agricultural sector.
The Qatari stock market gained slightly, led by real estate and telecom stocks. Ezdan Holding and Islamic Holding were the top gainers, while Qatar Insurance fell the most. Other GCC markets were mixed, with Saudi Arabia and Kuwait rising slightly and Abu Dhabi and Dubai declining. Earnings news saw mixed results reported from companies in Qatar, Dubai, Abu Dhabi, Bahrain and Saudi Arabia. Qatar continued plans to expand in Southeast Asia and raised the foreign ownership limit for Commercial Bank of Qatar shares.
The QE index in Qatar declined 1.3% led by losses in the Insurance and Industrials indices. Ezdan Holding Group and Doha Insurance Co. were the top losers. Regional indices were mixed with Saudi Arabia and Bahrain rising marginally while Dubai, Abu Dhabi, Kuwait, and Oman fell. MSCI said it will cut the weightings of some major Qatar and UAE stocks as they may pose accessibility issues for international investors due to foreign ownership limits.
QNBFS Daily Market Report August 29, 2018QNB Group
The QSE Index in Qatar rose 0.6% led by gains in the real estate and insurance indices. Qatar General Insurance and Doha Insurance Group were the top gainers rising 6.5% and 3.5% respectively, while Mannai Corporation fell 1.9%. Regional indices were mixed with Saudi Arabia and Abu Dhabi rising while Dubai and Kuwait declined.
QNBFS Daily Market Report September 24, 2018QNB Group
The QSE Index rose marginally to close at 9,768.9, led by gains in the Banks & Financial Services and Insurance indices. Top gainers were Al Khaleej Takaful Insurance Company and Doha Bank, while top losers were Dlala Brokerage & Investment Holding Company and Gulf Warehousing Company. Trading activity fell compared to the previous day, with Mesaieed Petrochemical Holding Company and Vodafone Qatar being the most active stocks. Regional indices were mixed with Saudi Arabia, Bahrain, and Abu Dhabi rising while Dubai, Kuwait, Oman declined.
The QSE Index rose 0.7% to close at 9,325.2 led by gains in the Banks & Financial Services and Consumer Goods & Services indices. Top gainers were Doha Insurance Group and Mannai Corporation, rising 3.4% and 3.1% respectively. Volume of shares traded fell 58.3% compared to the previous day and 66.2% lower than the 30-day moving average. Regional indices were mixed with Saudi Arabia up 0.5% and Oman down 0.1%.
QNBFS Daily Market Report December 12, 2017QNB Group
The QSE Index rose 1.2% to close at 7,923.1. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 2.8% and 1.6%, respectively.
The QE Index in Qatar rose slightly by 0.1% led by gains in the telecom and consumer goods sectors. Qatari Investors Group and Al Khalij Commercial Bank were the top gainers while Ahli Bank and Qatar General Insurance fell. Regional markets were mixed with Dubai up and Saudi Arabia and Abu Dhabi down. Real estate indices declined in Saudi Arabia and Abu Dhabi while telecoms gained in Qatar. Ezdan reported a 91.4% rise in Qatari real estate transactions for August.
The Qatari stock market gained slightly, led by real estate and telecom stocks. Ezdan Holding and Islamic Holding were the top gainers, while Qatar Insurance fell the most. Other GCC markets were mixed, with Saudi Arabia and Kuwait rising slightly and Abu Dhabi and Dubai declining. Earnings news saw mixed results reported from companies in Qatar, Dubai, Abu Dhabi, Bahrain and Saudi Arabia. Qatar continued plans to expand in Southeast Asia and raised the foreign ownership limit for Commercial Bank of Qatar shares.
The QE index in Qatar declined 1.3% led by losses in the Insurance and Industrials indices. Ezdan Holding Group and Doha Insurance Co. were the top losers. Regional indices were mixed with Saudi Arabia and Bahrain rising marginally while Dubai, Abu Dhabi, Kuwait, and Oman fell. MSCI said it will cut the weightings of some major Qatar and UAE stocks as they may pose accessibility issues for international investors due to foreign ownership limits.
QNBFS Daily Market Report August 29, 2018QNB Group
The QSE Index in Qatar rose 0.6% led by gains in the real estate and insurance indices. Qatar General Insurance and Doha Insurance Group were the top gainers rising 6.5% and 3.5% respectively, while Mannai Corporation fell 1.9%. Regional indices were mixed with Saudi Arabia and Abu Dhabi rising while Dubai and Kuwait declined.
QNBFS Daily Market Report September 24, 2018QNB Group
The QSE Index rose marginally to close at 9,768.9, led by gains in the Banks & Financial Services and Insurance indices. Top gainers were Al Khaleej Takaful Insurance Company and Doha Bank, while top losers were Dlala Brokerage & Investment Holding Company and Gulf Warehousing Company. Trading activity fell compared to the previous day, with Mesaieed Petrochemical Holding Company and Vodafone Qatar being the most active stocks. Regional indices were mixed with Saudi Arabia, Bahrain, and Abu Dhabi rising while Dubai, Kuwait, Oman declined.
The QSE Index rose 0.7% to close at 9,325.2 led by gains in the Banks & Financial Services and Consumer Goods & Services indices. Top gainers were Doha Insurance Group and Mannai Corporation, rising 3.4% and 3.1% respectively. Volume of shares traded fell 58.3% compared to the previous day and 66.2% lower than the 30-day moving average. Regional indices were mixed with Saudi Arabia up 0.5% and Oman down 0.1%.
QNBFS Daily Market Report December 12, 2017QNB Group
The QSE Index rose 1.2% to close at 7,923.1. Gains were led by the Real Estate and Banks & Financial Services indices, gaining 2.8% and 1.6%, respectively.
The QE Index in Qatar rose slightly by 0.1% led by gains in the telecom and consumer goods sectors. Qatari Investors Group and Al Khalij Commercial Bank were the top gainers while Ahli Bank and Qatar General Insurance fell. Regional markets were mixed with Dubai up and Saudi Arabia and Abu Dhabi down. Real estate indices declined in Saudi Arabia and Abu Dhabi while telecoms gained in Qatar. Ezdan reported a 91.4% rise in Qatari real estate transactions for August.
QNBFS Daily Market Report January 3, 2019QNB Group
- The QSE Index in Qatar declined 0.2% due to losses in the transportation and real estate indices. Mesaieed Petrochemical gained 10.0% while Mannai Corporation rose 5.2%.
-Indexes fell in other GCC markets as well, with Abu Dhabi down 1.0% and Saudi Arabia down 0.1%.
- In company news, Doha Insurance Group sold a property for a profit of QR33.8 million, and Gulf Warehousing Company will report 2018 earnings on January 16th.
The QSE Index rose 0.3% to close at 9,142.3, led by gains in the Transportation and Industrials indices. Doha Insurance Group and Qatari Investors Group were the top gainers while Dlala Brokerage & Investment Holding Company and Mannai Corporation were the top losers. Trading volume rose 75.3% compared to the previous day but was lower than the 30-day average. Meanwhile, industrial producers' earnings in Qatar grew double digits in May driven by higher prices for crude oil and other commodities.
The QSE Index rose 1.3% to close at 8,934.4. Gains were led by the Banks & Financial
Services and Real Estate indices, gaining 2.3% and 2.0%, respectively.
The document provides an overview of stock market activity and company earnings across various Middle Eastern markets. Key points:
- The Qatar stock market index rose 1.0% led by gains in the industrial and real estate sectors. Top gainers were Qatari Investors Group and Dlala Brokerage.
- Other markets in the region saw mixed performance, with Dubai and Bahrain rising while Saudi Arabia, Kuwait, and Oman fell.
- Company earnings reports from insurers and other firms in UAE and Oman showed mostly higher revenues and profits compared to prior year.
- News briefs highlighted Qatar Airways becoming fully government owned and plans for a new beach development project in Qatar
The QSE Index in Qatar gained 0.4% led by gains in the Industrials and Telecoms indices. Ahli Bank and Aamal Co. were the top gainers rising 5.7% and 2.6% respectively, while Mazaya Qatar Real Estate Development fell 1.5%. Volume traded fell 41.4% compared to the previous day. Other GCC markets were also mostly up with Saudi and Dubai indices rising 0.1% and 0.8% respectively.
The QE index in Qatar declined 0.2% with losses led by the Transportation and Real Estate indices. Gulf International Services and Qatar Gas Transport Co. were the top losers. Trading volume rose 12.9% but was 11.2% lower than the 30-day average. In company news, QNB Group launched a new business banking program, QIBK contributed to financing the Qatar Rail project, and MERS and QATI replaced two other companies on the QE Index. The Qatar insurance market was reported as the second fastest growing in the Gulf region.
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 QE index in Qatar rose 0.5% led by gains in the real estate and banking indices. Top gainers were Al Khaleej Takaful Group and Barwa Real Estate Co, while top losers were Qatar Navigation and Al Ahli Bank. Regional indices were mixed with Dubai and Kuwait down while Oman was up. Trading volumes in Qatar rose significantly.
The QE index in Qatar declined 0.4% led by losses in the real estate and banking indices. Top losers were Doha Insurance and Mannai Corp. Volume traded declined compared to the previous day but was higher than the 30-day average. In other GCC markets, indices were mixed with Saudi Arabia down slightly while Kuwait gained. Earnings news included a 29.2% rise in QFLS net profit QoQ and QNB opening an office in China. Regional hotel occupancy in Qatar rose to 67% with continued growth in visitor numbers. Energy City Qatar is revising plans to become a mixed-use development.
The QSE Index in Qatar declined 0.1% led by losses in the Insurance and Banks & Financial Services indices. The top losers were Qatar Insurance Co. and QNB Group, falling 1% each. In contrast, Mazaya Qatar Real Estate Development rose 3.5% while Industries Qatar increased 1.4%. Regionally, indices in Saudi Arabia, Dubai and Abu Dhabi rose between 0.7-2.1% while Oman and Bahrain fell 0.2% and 0.9% respectively.
The QSE Index declined 0.4% to close at 8,856.9. Losses were led by the Telecoms and
Banks & Financial Services indices, falling 1.3% and 0.6%, respectively.
The QSE Index in Qatar declined 0.3% due to losses in the consumer goods and industrials indices. Top losers were Qatar Islamic Insurance Co and Qatari Investors Group. Other GCC markets also declined, with Saudi Arabia down 1% and Dubai down 2%. Regional news included Qatar issuing QR15bn in bonds, Qatar Gas Transport postponing its EGM, and Qatar Airways unveiling a new cargo management system.
The QE index rose 0.5% to close at 10,436.5 led by gains in the real estate and telecom indices. Barwa Real Estate Co. and Qatar General Ins. & Rein. Co. were the top gainers rising 3.3% and 3.1% respectively, while Qatar German Co. for Med. Dev. fell 1.8% and Qatar Navigation declined 1.5%. Trading volume on the Qatar Exchange declined 37.2% compared to the previous day. Regionally, indices in Dubai, Abu Dhabi and Saudi Arabia rose between 0.9-1.4% while Kuwait and Bahrain indices gained around 0.1-0.2%.
The QE index in Qatar rose 0.2% led by gains in the industrial and banking indices. Gulf International Services and Qatar German Co. for Med. Dev. were the top gainers rising 2% and 1.6% respectively, while Qatar Industrial Manufacturing fell 1.8%. Trading volume declined 49.8% from the previous day. In company news, Qatar Holding purchased NYSE Euronext's 12% stake in the Qatar Exchange, and the Commercial Bank of Qatar acquired a further 3.4% stake in Alternatifbank.
QNBFS Daily Market Report November 06, 2017QNB Group
The QSE Index declined 0.2% to close at 8,126.9. Losses were led by the Consumer Goods & Services and Real Estate indices, falling 1.2% and 1.1%, respectively.
QNBFS Daily Market Report February 03, 2020QNB Group
The QE Index declined 0.8% to close at 10,362.0. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 3.1% and 0.6%, respectively.
QNBFS Daily Market Report January 3, 2019QNB Group
- The QSE Index in Qatar declined 0.2% due to losses in the transportation and real estate indices. Mesaieed Petrochemical gained 10.0% while Mannai Corporation rose 5.2%.
-Indexes fell in other GCC markets as well, with Abu Dhabi down 1.0% and Saudi Arabia down 0.1%.
- In company news, Doha Insurance Group sold a property for a profit of QR33.8 million, and Gulf Warehousing Company will report 2018 earnings on January 16th.
The QSE Index rose 0.3% to close at 9,142.3, led by gains in the Transportation and Industrials indices. Doha Insurance Group and Qatari Investors Group were the top gainers while Dlala Brokerage & Investment Holding Company and Mannai Corporation were the top losers. Trading volume rose 75.3% compared to the previous day but was lower than the 30-day average. Meanwhile, industrial producers' earnings in Qatar grew double digits in May driven by higher prices for crude oil and other commodities.
The QSE Index rose 1.3% to close at 8,934.4. Gains were led by the Banks & Financial
Services and Real Estate indices, gaining 2.3% and 2.0%, respectively.
The document provides an overview of stock market activity and company earnings across various Middle Eastern markets. Key points:
- The Qatar stock market index rose 1.0% led by gains in the industrial and real estate sectors. Top gainers were Qatari Investors Group and Dlala Brokerage.
- Other markets in the region saw mixed performance, with Dubai and Bahrain rising while Saudi Arabia, Kuwait, and Oman fell.
- Company earnings reports from insurers and other firms in UAE and Oman showed mostly higher revenues and profits compared to prior year.
- News briefs highlighted Qatar Airways becoming fully government owned and plans for a new beach development project in Qatar
The QSE Index in Qatar gained 0.4% led by gains in the Industrials and Telecoms indices. Ahli Bank and Aamal Co. were the top gainers rising 5.7% and 2.6% respectively, while Mazaya Qatar Real Estate Development fell 1.5%. Volume traded fell 41.4% compared to the previous day. Other GCC markets were also mostly up with Saudi and Dubai indices rising 0.1% and 0.8% respectively.
The QE index in Qatar declined 0.2% with losses led by the Transportation and Real Estate indices. Gulf International Services and Qatar Gas Transport Co. were the top losers. Trading volume rose 12.9% but was 11.2% lower than the 30-day average. In company news, QNB Group launched a new business banking program, QIBK contributed to financing the Qatar Rail project, and MERS and QATI replaced two other companies on the QE Index. The Qatar insurance market was reported as the second fastest growing in the Gulf region.
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 QE index in Qatar rose 0.5% led by gains in the real estate and banking indices. Top gainers were Al Khaleej Takaful Group and Barwa Real Estate Co, while top losers were Qatar Navigation and Al Ahli Bank. Regional indices were mixed with Dubai and Kuwait down while Oman was up. Trading volumes in Qatar rose significantly.
The QE index in Qatar declined 0.4% led by losses in the real estate and banking indices. Top losers were Doha Insurance and Mannai Corp. Volume traded declined compared to the previous day but was higher than the 30-day average. In other GCC markets, indices were mixed with Saudi Arabia down slightly while Kuwait gained. Earnings news included a 29.2% rise in QFLS net profit QoQ and QNB opening an office in China. Regional hotel occupancy in Qatar rose to 67% with continued growth in visitor numbers. Energy City Qatar is revising plans to become a mixed-use development.
The QSE Index in Qatar declined 0.1% led by losses in the Insurance and Banks & Financial Services indices. The top losers were Qatar Insurance Co. and QNB Group, falling 1% each. In contrast, Mazaya Qatar Real Estate Development rose 3.5% while Industries Qatar increased 1.4%. Regionally, indices in Saudi Arabia, Dubai and Abu Dhabi rose between 0.7-2.1% while Oman and Bahrain fell 0.2% and 0.9% respectively.
The QSE Index declined 0.4% to close at 8,856.9. Losses were led by the Telecoms and
Banks & Financial Services indices, falling 1.3% and 0.6%, respectively.
The QSE Index in Qatar declined 0.3% due to losses in the consumer goods and industrials indices. Top losers were Qatar Islamic Insurance Co and Qatari Investors Group. Other GCC markets also declined, with Saudi Arabia down 1% and Dubai down 2%. Regional news included Qatar issuing QR15bn in bonds, Qatar Gas Transport postponing its EGM, and Qatar Airways unveiling a new cargo management system.
The QE index rose 0.5% to close at 10,436.5 led by gains in the real estate and telecom indices. Barwa Real Estate Co. and Qatar General Ins. & Rein. Co. were the top gainers rising 3.3% and 3.1% respectively, while Qatar German Co. for Med. Dev. fell 1.8% and Qatar Navigation declined 1.5%. Trading volume on the Qatar Exchange declined 37.2% compared to the previous day. Regionally, indices in Dubai, Abu Dhabi and Saudi Arabia rose between 0.9-1.4% while Kuwait and Bahrain indices gained around 0.1-0.2%.
The QE index in Qatar rose 0.2% led by gains in the industrial and banking indices. Gulf International Services and Qatar German Co. for Med. Dev. were the top gainers rising 2% and 1.6% respectively, while Qatar Industrial Manufacturing fell 1.8%. Trading volume declined 49.8% from the previous day. In company news, Qatar Holding purchased NYSE Euronext's 12% stake in the Qatar Exchange, and the Commercial Bank of Qatar acquired a further 3.4% stake in Alternatifbank.
QNBFS Daily Market Report November 06, 2017QNB Group
The QSE Index declined 0.2% to close at 8,126.9. Losses were led by the Consumer Goods & Services and Real Estate indices, falling 1.2% and 1.1%, respectively.
QNBFS Daily Market Report February 03, 2020QNB Group
The QE Index declined 0.8% to close at 10,362.0. Losses were led by the Consumer Goods & Services and Banks & Financial Services indices, falling 3.1% and 0.6%, respectively.
The QE index in Qatar rose 0.2% led by gains in the transportation and telecom sectors. Qatar Gas Transport Co. and Qatari Investors Group were the top gainers rising 3.8% and 2.6% respectively, while Qatar General Ins. & Rein. Co. fell 5.0%. Regional indices were mixed with Saudi Arabia and Kuwait rising while Dubai and Abu Dhabi fell.
QNBFS Daily Market Report January 7, 2019QNB Group
The document summarizes daily market activity in Qatar, the GCC and regional indices. Specifically:
- The Qatar stock market rose marginally, led by gains in the insurance and real estate sectors.
- Saudi, Dubai and Abu Dhabi markets also rose, while Kuwait declined.
- News briefs highlight upcoming earnings reports in Qatar and real estate transaction growth. A new Qatar tax authority was also established.
QNBFS Daily Market Report October 9, 2018QNB Group
The QSE Index declined 0.3% led by losses in the Banks & Financial Services and Insurance indices. Salam International Investment Limited and Qatari Investors Group fell 1.6% each, while Gulf International Services gained 6.1% and Qatar Islamic Insurance Company rose 2.9%. Trading volume rose 111.2% but remained 30.2% lower than the 30-day moving average. The Qatari market commentary noted the index fell on selling pressure from non-Qatari investors despite Qatari buying support.
QNBFS Daily Market Report August 17, 2020QNB Group
The QE Index in Qatar rose marginally to close at 9,603.1, led by gains in the Industrials and Telecoms indices. Aamal Company and Dlala Brokerage & Investment Holding Company were the top gainers, while Qatari German Company for Medical Devices saw the largest decline. Trading volume fell compared to the previous day and the 30-day moving average. Regional indices in other Gulf markets also rose, with Saudi Arabia, Kuwait, Dubai, Abu Dhabi and Bahrain all seeing index gains. Earnings reports from companies in Qatar and other GCC countries showed mixed financial results.
QNBFS Daily Market Report August 09, 2016QNB Group
The QSE Index rose 1.2% led by gains in the Banks & Financial Services and Telecoms indices. Vodafone Qatar and United Development Co. were the top gainers rising 6.0% and 3.6% respectively, while Doha Insurance Co. fell 4.5%. Regional markets were mixed with Saudi Arabia and Kuwait rising while Dubai and Bahrain fell. Company earnings news included MERS reporting a 7.2% rise in net profit for 2Q2016 and Doha Insurance reporting a loss versus a profit in the previous period.
The QE Index declined 0.6% to close at 9,128.1. Losses were led by the Industrials and Banks & Financial Services indices, falling 0.9% and 0.6%, respectively.
QNBFS Daily Market Report September 05, 2016QNB Group
The QSE index rose slightly by 0.1% despite selling pressure from Qatari and GCC shareholders. Gains were led by the Insurance and Industrials indices. Top gainers were Qatar Insurance Co. and Vodafone Qatar, while the biggest loser was Qatar General Insurance & Reinsurance Co. Trading volume on the QSE fell by around 68.9% compared to the previous day. Regional indices were mixed with Saudi Arabia and Oman up while Abu Dhabi and Kuwait declined.
QNBFS Daily Market Report August 08, 2016QNB Group
The QSE Index rose 1.0% led by gains in the Insurance and Industrials indices. Industries Qatar and Doha Insurance Co. were the top gainers while Dlala Brokerage & Investments Holding Co. and Al Khaleej Takaful Group declined. Volume traded increased 67.8% compared to the previous day. The Qatar market commentary noted buying from non-Qatari investors increased the index despite Qatari shareholder selling pressure.
The QSE Index gained 0.7% led by the Telecom and Banks indices. Qatar German Co. for Medical Devices and Islamic Holding Group rose 10% each, while Qatar General Insurance fell 3.8%. Volume rose 9.7% with Qatar German and Vodafone Qatar being the most active. The PM called for continued diversification of Qatar's economy to achieve Vision 2030 goals. Doha Bank plans a $250mn capital infusion in its Indian operations over 3 years to support loan growth. Qatar will showcase 13 leading listed companies in London.
The QSE Index declined 0.2% led by losses in the Insurance and Transportation indices. Qatar General Insurance and Ahli Bank were the top losers falling 7.2% and 4.7% respectively, while Dlala' Brokerage rose 2.7% and Medicare Group rose 1.8%. Trading volume fell 47.7% compared to the previous day. Regional markets were mixed with Saudi and Oman rising while Kuwait and Bahrain fell. Earnings releases from regional companies showed revenue declines but some growth in net profits. News articles discussed plans to boost Qatar's cruise tourism industry and the view that Qatar's sovereign wealth fund and debt market access cushion the impact of lower oil prices on the economy.
The QSE Index rose 0.4% led by gains in the consumer goods and industrials indices. Islamic Holding Group and Qatar Fuel were the top gainers rising 4.8% and 2.9% respectively, while Qatar Insurance Co fell 1.7%. Trading volume fell 14.5% but was 90.5% higher than the 30-day average. Regional indices were mixed with Saudi Arabia and Oman rising while Abu Dhabi fell. Construction in Qatar is forecast to grow 10.4% annually until 2022 supported by infrastructure projects for the 2022 World Cup.
The QE index in Qatar declined 1.0% due to losses in the banking and industrial sectors. Top losers were Qatar German Co. for Med. Dev. and QNB Group. Regional markets were mixed with Dubai and Abu Dhabi rising while Saudi Arabia declined marginally. News included Qatari insurers' assets totaling QR15.9bn in 2012, Cabinet approving rent dispute panels, and potential increases in rents at Barwa Village. Vodafone Qatar appointed new directors and Ahli Bank and Alijarah will disclose upcoming quarterly results. The IMF approved the next $1bn tranche for Ireland's bailout program.
The QSE Index rose 0.5% led by gains in the Insurance and Transportation indices. Qatar Navigation and Qatar Insurance Company were the top gainers rising 3.3% and 2.1% respectively, while Mannai Corporation fell 3.0%. Regional indices were mixed with Saudi Arabia and Kuwait rising while Abu Dhabi fell. Fitch upgraded Doha Bank's outlook to stable and Qatari FDI rose 27% in 2017, showing investor confidence remains intact despite diplomatic issues. Analysts expect Qatar's economy to grow around 2.8% in 2018 and 2019, supported by oil prices, reforms and infrastructure spending.
The QSE Index declined slightly by 0.1% led by losses in the real estate and insurance indices. Qatar General Insurance and Ahli Bank were the top losers falling 8.3% and 6.0% respectively. Zad Holding gained 10.0% while Qatar Islamic Insurance rose 7.5%. Trading volume rose by 37.1% but was lower than the 30-day average. The document also provides summaries of index movements and major stock movers in other GCC markets as well as global economic data and earnings releases.
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.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
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BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf
QNBFS Daily Market Report September 25, 2018
1. Page 1 of 7
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.4% to close at 9,731.7. Losses were led by the Insurance
and Transportation indices, falling 4.0% and 1.2%, respectively. Top losers were
Qatar General Insurance & Reinsurance Company and Qatar Insurance Company,
falling 6.9% and 3.6%, respectively. Among the top gainers, Qatari Investors Group
gained 1.6%, while The Group Islamic Insurance Company was up 1.0%.
GCC Commentary
Saudi Arabia: Market was closed on September 24, 2018.
Dubai: The DFM General Index declined 0.3% to close at 2,753.3. The Consumer
Staples and Discretionary index fell 3.0%, while the Services index declined 2.1%.
Al Salam Group Holding fell 6.2%, while National Central Cooling Co. was down
3.8%.
Abu Dhabi: The ADX General Index fell 0.1% to close at 4,888.8. The Consumer
Staples index declined 5.8%, while the Investment & Financial Services index fell
1.0%. Ooredoo declined 10.0%, while Union Insurance Co. was down 9.8%.
Kuwait: The Kuwait Main Market Index rose marginally to close at 4,740.0. The
Insurance index gained 1.6%, while Industrials index rose 0.1%. Kuwait And Middle
East Financial Investment Co. gained 14.0%, while KAMCO Investment Company
was up 12.9%.
Oman: The MSM 30 Index fell 0.7% to close at 4,453.3. Losses were led by the
Services and Financial indices, falling 0.9% and 0.5%, respectively. Renaissance
Services fell 3.4%, while Al Suwadi Power was down 3.3%.
Bahrain: The BHB Index gained 0.3% to close at 1,356.1. The Commercial Banks
index rose 0.7%, while the other indices ended flat or in red. Khaleeji Commercial
Bank rose 9.8%, while Bahrain Islamic Bank was up 4.2%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatari Investors Group 30.49 1.6 7.8 (16.7)
The Group Islamic Insurance Co. 51.50 1.0 11.1 (6.3)
Mannai Corporation 57.50 0.9 4.5 (3.4)
Aamal Company 9.59 0.8 2.9 10.5
Qatari German Co for Med. Devices 5.05 0.6 18.2 (21.8)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Investment Holding Group 5.36 (2.5) 2,076.9 (12.1)
Dlala Brokerage & Inv. Holding Co. 12.13 0.2 457.3 (17.5)
Mesaieed Petrochemical Holding 16.45 (0.8) 450.9 30.7
Ezdan Holding Group 10.40 0.5 418.9 (13.9)
Doha Bank 23.51 (0.6) 388.6 (17.5)
Market Indicators 24 Sep 18 23 Sep 18 %Chg.
Value Traded (QR mn) 205.7 180.2 14.2
Exch. Market Cap. (QR mn) 540,856.1 543,707.3 (0.5)
Volume (mn) 6.8 5.5 23.0
Number of Transactions 3,434 2,529 35.8
Companies Traded 42 45 (6.7)
Market Breadth 14:25 16:21 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 17,146.09 (0.4) (0.4) 20.0 14.5
All Share Index 2,863.25 (0.5) (0.6) 16.7 14.9
Banks 3,494.53 (0.4) 0.0 30.3 14.2
Industrials 3,128.23 (0.2) (0.7) 19.4 15.5
Transportation 2,055.39 (1.2) (1.6) 16.3 12.8
Real Estate 1,844.50 0.1 (0.8) (3.7) 15.6
Insurance 3,165.93 (4.0) (3.8) (9.0) 29.6
Telecoms 965.16 (0.5) (0.5) (12.2) 37.9
Consumer 6,474.12 (0.2) (0.2) 30.4 14.1
Al Rayan Islamic Index 3,779.00 (0.1) (0.5) 10.4 16.3
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Com. Bank of Kuwait Kuwait 0.51 2.0 10.5 40.3
Gulf Bank Kuwait 0.26 1.6 3,153.2 7.1
Human Soft Holding Co. Kuwait 3.35 1.5 165.5 (10.4)
Boubyan Bank Kuwait 0.56 1.3 516.1 34.1
Aldar Properties Abu Dhabi 1.80 1.1 7,360.5 (18.2)
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Qatar Insurance Co. Qatar 38.50 (3.6) 164.3 (14.9)
HSBC Bank Oman Oman 0.12 (2.5) 623.8 (8.6)
DAMAC Properties Dubai 1.98 (2.5) 318.1 (40.0)
Oman Telecom. Co. Oman 0.83 (2.3) 130.9 (31.0)
Bank Dhofar Oman 0.16 (1.9) 350.0 (22.6)
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 General Ins. & Reins. Co. 45.60 (6.9) 5.1 (6.9)
Qatar Insurance Company 38.50 (3.6) 164.3 (14.9)
Investment Holding Group 5.36 (2.5) 2,076.9 (12.1)
Qatar Navigation 66.26 (2.4) 3.1 18.4
Zad Holding Company 101.05 (2.3) 1.2 37.2
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
QNB Group 175.00 (0.7) 62,708.1 38.9
Industries Qatar 122.25 0.1 29,499.1 26.0
Barwa Real Estate Company 35.65 (0.4) 12,277.3 11.4
Investment Holding Group 5.36 (2.5) 10,912.5 (12.1)
Doha Bank 23.51 (0.6) 9,112.9 (17.5)
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* 9,731.65 (0.4) (0.4) (1.6) 14.2 56.34 148,573.2 14.5 1.5 4.5
Dubai 2,753.29 (0.3) (0.4) (3.1) (18.3) 38.05 98,561.6 7.3 1.0 6.2
Abu Dhabi 4,888.79 (0.1) 0.1 (2.0) 11.1 30.67 132,077.8 12.9 1.5 4.9
Saudi Arabia#
7,768.31 0.5 2.3 (2.3) 7.5 605.91 492,331.6 17.1 1.7 3.7
Kuwait 4,740.02 0.0 (0.4) (3.2) (1.8) 55.50 32,525.4 14.6 0.9 4.4
Oman 4,453.27 (0.7) (0.9) 0.8 (12.7) 3.75 19,164.8 11.0 0.8 6.1
Bahrain 1,356.13 0.3 1.2 1.3 1.8 10.54 20,830.5 9.2 0.9 6.0
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any;
#
Data as of September 20, 2018)
9,650
9,700
9,750
9,800
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 declined 0.4% to close at 9,731.7. The Insurance and
Transportation indices led the losses. The index fell on the back of
selling pressure from Qatari shareholders despite buying support from
GCC and non-Qatari shareholders.
Qatar General Insurance & Reinsurance Company and Qatar Insurance
Company were the top losers, falling 6.9% and 3.6%, respectively.
Among the top gainers, Qatari Investors Group gained 1.6%, while The
Group Islamic Insurance Company was up 1.0%.
Volume of shares traded on Monday rose by 23.0% to 6.8mn from 5.5mn
on Sunday. Further, as compared to the 30-day moving average of
6.2mn, volume for the day was 10.1% higher. Investment Holding Group
and Dlala Brokerage & Investment Holding Company were the most
active stocks, contributing 30.4% and 6.7% to the total volume,
respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Global Economic Data and Earnings Calendar
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
09/24 Germany IFO Institute - Institut fuer IFO Business Climate September 103.7 103.2 103.9
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 3Q2018 results No. of days remaining Status
QNBK QNB Group 10-Oct-18 15 Due
DHBK Doha Bank 17-Oct-18 22 Due
UDCD United Development Company 17-Oct-18 22 Due
ABQK Ahli Bank 21-Oct-18 26 Due
QIGD Qatari Investors Group 21-Oct-18 26 Due
CBQK The Commercial Bank 23-Oct-18 28 Due
Source: QSE
News
Qatar
Government to allocate QR20bn for infra projects in Doha, says
MME minister – The government is expected to allocate around
QR20bn worth of funds to ‘rebuild’ selected areas in and around
Doha City as part of the second phase of massive infrastructure
works in preparation for Qatar’s hosting of the FIFA World Cup
in 2022. Speaking to reporters on the sidelines of ‘The Big 5
Qatar’ opening ceremony at the Doha Exhibition and
Convention Center (DECC), HE the Minister of Municipality and
Environment (MME) Mohamed bin Abdullah Al-Rumaihi said
the funds to be allocated will be used for internal roads and
areas surrounding the football stadiums, as well as new cities.
(Gulf-Times.com)
Qatar’s economy to expand 2.6% in 2018, according to a
Bloomberg News survey – Qatar’s economy will expand 2.6% in
2018, according to the latest Bloomberg news survey of 9
economists, conducted from September 16, 2018 to September
19, 2018. The country’s GDP is forecasted to grow 2.6% YoY in
2019, lower than the previous forecast of 2.9% YoY. CPI is
forecasted to 1% YoY in 2018 and 2.5% YoY in 2019 compared
the previous forecast of 1.5% YoY in 2018 and 2.5% YoY in
2019. (Bloomberg)
Qatar, Oman Chambers sign protocol to deepen economic
relations – Qatar Chamber and Oman Chamber signed a
cooperation protocol in order to activate the Qatari-Omani
business council. The agreement was signed by Qatar
Chamber’s Director-General, Saleh bin Hamad Al-Sharqi and
Salem Al-Bahrani of Oman Chamber. The agreement signing
took place at the headquarter of Oman Chamber to announce
the intensified cooperation and collaboration in organizing the
‘Made in Qatar 2018’, which will be held in Muscat in
November. “It represents a sincere desire of the Qatari business
community to deepen the economic relations between the two
sides to higher levels of strategic partnership that contributes
to establishing projects and entities of great benefits to the
national economy in both the countries,” Al-Sharqi said. (Gulf-
Times.com)
Mahaseel to provide marketing edge for Qatar agro-industry –
Qatar’s agro-production is all set to expand with Hassad Food’s
newly-created wholly-owned subsidiary Mahaseel, undertaking
the marketing and offering the required support to the sector as
part of Doha’s strategy to achieve self-sufficiency in the
primary sector. “We conducted market analysis, and identified
a mechanism to offer the required support to the private
agricultural sector, in order to contribute to the country’s self-
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 25.44% 29.30% (7,949,016.24)
Qatari Institutions 13.90% 20.96% (14,514,417.25)
Qatari 39.34% 50.26% (22,463,433.49)
GCC Individuals 0.35% 0.16% 389,424.77
GCC Institutions 1.93% 1.12% 1,672,084.30
GCC 2.28% 1.28% 2,061,509.07
Non-Qatari Individuals 6.89% 7.03% (277,837.72)
Non-Qatari Institutions 51.48% 41.43% 20,679,762.14
Non-Qatari 58.37% 48.46% 20,401,924.42
3. Page 3 of 7
sufficiency, and accordingly, we established a company
specialized in marketing and agricultural services,” Hassad
Food’s CEO, Mohamed bin Badr Al-Sadah said. The company,
which will be operational in six months, would not only
encourage local farmers to increase quantity and enhance
quality of local produce, but also ensure full procurement from
them. (Gulf-Times.com)
Qatar takes part in GCC retirement and social insurance meet –
The State of Qatar will participate in the 17th meeting of the
heads of GCC civil retirement and social insurance authorities,
which will start in Kuwait today. Qatar will be represented by a
delegation from the General Retirement and Social Insurance
Authority (GRSIA) headed by GRSIA’s Chairman, Turki
Mohammed Al Khater. The meeting, which is being hosted by
Kuwait’s General Organization for Social Insurance, will discuss
a number of issues, the most important of which are joint
cooperation, insurance protection updates and system
development mechanisms, in addition to looking into reform of
GCC fund systems. (Peninsula Qatar)
International
World oil demand, refining growth to peak in 2035 – World oil
demand will peak at 104.4mn barrels per day (bpd) in the mid-
2030s, up from just below 100mn bpd currently, as new
technologies gradually eat into oil use, according to China
International United Petroleum & Chemicals Co., Ltd.
(UNIPEC). Improved energy efficiency and technological
changes, including the rise of renewables, implies global oil
demand growth will slow in coming years before peaking in
2035, UNIPEC’s President, Chen Bo told the annual Asia Pacific
Petroleum Conference (APPEC). This in turn will slow growth in
global oil refining capacity, which is set to hit 5.6bn tons per
year in 2035, he said. (Reuters)
CBI: UK’s factory orders weaken in September as exports fade –
British manufacturers’ order books slipped in September, as
export business weakened, with little more than six months to
go before Brexit, according to an industry survey. The
Confederation of British Industry’s (CBI) monthly factory
orders balance fell to a four-month low of -1 from +7 in August,
but remained above the series’ long-run average. The CBI’s
gauge of export orders fell to its lowest level since October
2017. Britain is to exit the European Union (EU) in March next
year, but the country’s path out of the bloc is unclear. After
weeks of positive noises about the prospects of clinching a
divorce deal and one on a future trading relationship, the mood
between Britain and the EU turned sour last week. (Reuters)
Wage growth pushing up inflation in Euro area, says ECB’s
Draghi – European Central Bank’s (ECB) head, Mario Draghi
said he expects inflation to rise in the 19 countries that use the
Euro as a stronger job market pushes up wages. Draghi’s
comments before the economic and monetary committee of the
European Parliament in Brussels indicated the bank continues
to think the recovery is strong enough for it to phase out its
bond-purchase stimulus at year end. Draghi told the committee
members that “underlying inflation is expected to increase
further over the coming months as the tightening labor market
is pushing up wage growth.” He cited annual growth in
negotiated wages of 2.2% in the second quarter, up from 1.7%
in the first quarter. He added that the bank was increasingly
confident that the pick-up in wages would continue because
wage agreements often last two years or more. The bank has
pumped €2.5tn in newly printed money into the economy
through the monthly bond purchases, trying to raise inflation
from weak levels toward its goal of just under 2% annually.
(Peninsula Qatar)
Germany on track for solid growth as business morale holds
steady – Business morale held steady in Germany in September,
propped up by consumer spending and construction, a survey
showed, to leave the country on track for further growth even if
an uncertain global economic outlook worsens. The Munich-
based Ifo economic institute’s business climate index edged
down to 103.7 from an upwardly revised 103.9 in August. That
beat a Reuters consensus forecast of 103.2. But the
manufacturing sub-index dipped and companies scaled back
their overall expectations slightly, suggesting a growing trade
row between Washington and Beijing is weighing on exporters.
The growth outlook is also clouded by an impasse in Britain’s
negotiations with its EU partners over the conditions of its
departure from the bloc next March. Economy Minister Peter
Altmaier said the economy is likely to grow around 2% this
year. That will be less than both the government’s forecast of
2.3% and the calendar-adjusted growth rate of 2.5% reached
last year. (Reuters)
France's 2019 budget to ease tax burden on households, firms –
France will reduce the tax burden on households and companies
by nearly €25bn ($29.4bn) next year, the government said in its
2019 budget bill, pushing the deficit up towards an EU cap as
the economy fails to gain pace. Households will see their tax bill
reduced by total €6bn, while business taxes will fall by €18.8bn,
resulting in the overall tax burden decreasing to 44.2% of
national income, the lowest for France since 2012. With his
approval ratings falling sharply, President Emmanuel Macron
wants to cut taxes to revive the economy and create jobs, while
also honoring an EU rule to keep the budget deficit below 3% of
GDP. Taxes rose sharply under Macron’s two predecessors. A
more sluggish-than-expected economy is complicating that
effort. The government confirmed that the public sector budget
deficit was set to rise to 2.8% of GDP next year from 2.6% this
year. (Reuters)
Trump’s tariffs on $200bn of Chinese imports kick in –
President Donald Trump’s tariffs on another $200bn of Chinese
imports took effect, with Beijing accusing Washington of
“economic intimidation” as the standoff between the world’s
top two economies clouds the global outlook. The latest volley
against Beijing brings the amount of goods hit by duties to more
than $250bn, which is roughly half of China’s US exports, with
American consumers set to increasingly feel the pain. Trump
has hit 12% of total US imports this year alone. Defiant in the
face of increasing fears about the impact to the US economy,
Trump has threatened to hit all imports from China, if it refuses
to change policies he says harm US industry, particularly the
theft of American technology. (Gulf-Times.com)
Regional
AMF projects improved growth outlook for the GCC – The Arab
Economic Outlook Report from the Arab Monetary Fund (AMF)
showed that economic activities in the Arab region have
improved in 2018 because of the increase in global demand, the
4. Page 4 of 7
rise in international oil prices, as well as the positive effects of
economic reforms being implemented in a number of these
countries. The growth rate of the Arab countries as a group has
been revised upward to 2.3% in 2018, while the growth rate for
2019 has been kept unchanged at around 3%. While AMF
expects reforms in the GCC countries to improve the business
climate, resulting in higher economic growth of an estimated
2.5% next year, the growth expectations in other Arab oil-
exporting countries have been lowered to 1.8% in 2018,
reflecting the internal conditions in some of these countries,
which led to a notable decline in oil production in 2018 against
2017 levels. (GulfBase.com)
Middle East lighting fixtures market to hit $8.7bn – Valued at
$4.4bn in 2017, the Middle East lighting fixtures market is
tipped to grow 10% annually up to 2024, when revenues will
top $8.7bn. This was stated by Messe Frankfurt Middle East’s
CEO, Ahmed Pauwels, during an exclusive interview with The
Gulf Today. Pauwels noted that Saudi Arabia currently holds
the lion’s share of the regional market, with a 30% stake in 2017
($1.32bn), while the UAE holds a 13% share ($572mn).
(GulfBase.com)
Bloomberg News survey: Saudi Arabia’s economy to expand 2%
YoY in 2018– Saudi Arabia’s economy will expand 2% YoY in
2018 versus prior forecast of 1.6%, according to the latest
results of a Bloomberg News survey of 8 economists conducted
from September 16 to September 19. In 2019, Saudi Arabia’s
GDP is expected to expand 2.7% YoY (versus prior 2.2%).
Further, 2018 CPI is forecasted at 3.4% YoY (versus prior 3.5%)
and 2019 CPI has been forecasted at 2% YoY (versus prior
2.9%). (Bloomberg)
Petronas-Saudi RAPID refinery offloads first oil cargo – A
supertanker carrying the first crude oil cargo to a refinery being
jointly built by Malaysia’s Petroliam Nasional Berhad
(Petronas) and Saudi Aramco has arrived at Pengerang, as the
two companies enter the commissioning and testing phase at
the plant. Construction of the 300,000 barrels-per-day (bpd)
refinery at the Pengerang Integrated complex is nearing
completion, Petronas stated. The cargo of 2mn barrels of crude
oil supplied by Petronas and Saudi Aramco will be used for the
commissioning and testing activities which are scheduled to
start in October, Petronas added. (Reuters)
Saudi Aramco’s CEO says Saudi Arabian government
committed to IPO after SABIC deal – Talks to buy a majority
stake in Saudi Basic Industries Corporation (SABIC) are at early
stage, according to Saudi Aramco’s CEO, Amin Nasser. He said
the Saudi Arabian government is still committed to a stock
market flotation for Saudi Aramco, but that any IPO would
have to wait until after the acquisition and integration of
SABIC. (Bloomberg)
SABIC to hire banks for return to Dollar bond market – SABIC
has hired banks to arrange a debt offering as it returns to the
Dollar-bond market after a five-year absence. The Middle East’s
biggest petrochemicals producer appointed BNP Paribas SA and
Citigroup Inc., HSBC Holdings Plc, Mitsubishi UFJ Financial
Group Inc. and Standard Chartered Plc to organize investor
roadshows, according to a term sheet obtained by Bloomberg. A
benchmark bond issue, typically at least $500mn, with a five-
and/or ten-year tenor may follow. (Bloomberg)
Moody's assigns ‘A1’ ratings to SABIC's proposed notes; ratings
affirmed – Moody's Investors Service (Moody's) assigned an
‘A1’ instrument rating to the proposed new senior unsecured
notes that will be issued by SABIC Capital II B.V. and
unconditionally and irrevocably guaranteed by SABIC.
Concurrently, Moody's affirmed SABIC's ‘A1’ long-term issuer
rating and ‘A1’ senior unsecured ratings of SABIC Capital I B.V.
and SABIC Capital II B.V. The outlook on all ratings is ‘Stable’.
“SABIC's A1 rating reflects its strong business position in the
chemical sector and its ability to weather industry volatility,
particularly given its healthy operational cash flows and
conservative liquidity profile,” Moody's Vice President and
Senior Analyst, Rehan Akbar stated. (Moody's)
Customers forced to use cash as MADA network down – The
MADA payment services were disrupted on September 23 for
the second time in less than a year, affecting sale and purchase
operations in shops and withdrawal of money from ATMs. This
disruption forced everyone to deal in cash only. Many retail
stores and restaurants declined to provide services to those
who wanted to pay through their MADA cards as the network
was down. The disruption of the MADA services was caused by
a fire in one of the power units operating the main data center,
an official source told Okaz/Saudi Gazette. The Saudi Payments
Network, or MADA, is the only and major payment system in
the Kingdom connecting all ATM and point of sale (POS)
terminals throughout the country to a central payment switch,
which in turn re-routes the financial transactions to the card
issuer. (GulfBase.com)
Bloomberg News survey: UAE’s economy to expand 2.5% YoY
in 2018 – The UAE’s economy will expand 2.5% YoY in 2018,
unchanged versus prior forecasts, according to Bloomberg
News survey. For 2019, UAE’s GDP forecast remained
unchanged as well at 3.1% YoY. Further, the 2018 CPI forecast
was unchanged at 3.5% YoY, whereas the 2019 CPI forecast
stood at 2.5% YoY (versus prior survey forecast of 3%).
(Bloomberg)
UAE banking group considers asking for ease in mortgage rules
– A UAE banking group is considering whether to ask the
central bank to relax mortgage lending rules to stimulate a
fragile real estate market, according to sources. At the moment,
first-time buyers of a home worth up to AED5mn can only
borrow up to 80% of the property value if they are the UAE
citizens, while the cap is 75% for foreigners. The UAE Banks
Federation’s retail banking committee has proposed that the
limit be raised to 85% for the UAE nationals and 80% for
foreigners, the sources said. They added that the CEO Advisory
Council, made up of bank Chief Executives, is considering the
proposal and, if approved, will suggest it to the central bank.
(Reuters)
Sharjah to regulate the real estate brokerage business – In a
major move, the Supreme Council Member and Ruler of Sharjah,
Dr Sheikh Sultan bin Mohammed Al Qasimi, announced key
steps to regulate the real estate brokerage profession in the
Emirate, according to state news agency Wam. Dr Sheikh
Sultan issued on September 23 the Decree-Law to repeal Law
No. 01 of 1981 on the intermediaries (brokers), the report
stated. Pursuant to the new Decree-Law No. 02 of 2018, the
Sharjah Executive Council (SEC) is mandated to issue a
5. Page 5 of 7
resolution to regulate the real estate brokerage profession in the
Emirate as well as the fees and the administrative penalties in
accordance with the relevant provisions. The Sharjah
Consultative Council shall be notified of this Decree-Law
immediately after its convening, the Wam report stated. The
decree shall be effective from the date of its issuance and other
competent authorities should implement its provisions each in
its respective field, and shall be published in the Official
Gazette, it added. (GulfBase.com)
Al Dahra Holding to invest further $500mn in Romania – Abu
Dhabi-based Al Dahra Holding stated it will invest a further
$500mn in various sectors in the Romanian market after
acquiring the largest farm producer there. Al Dahra Holding,
which has been expanding aggressively in Eastern Europe in
the last five years, stated it had bought Romania’s Agricost and
Braila Island recently, but did not disclose a figure for the
transactions. (Reuters)
Emirates Steel hires BNP Paribas to coordinate $400mn loan
financing – Emirates Steel, the largest steel producer in the
UAE, hired BNP Paribas to coordinate a $400mn loan financing,
according to sources. The company, owned by Abu Dhabi’s
Senaat, a state-owned investor in the Emirate’s industrial
sector, will use the loan proceeds to refinance part of its
existing debt. Emirates Steel has $1.3bn in outstanding credit
facilities it raised in 2014 which are due in 2022. The $400mn
loan, which will be completed before the end of October, will be
Shari’ah-compliant, said one source, adding other banks
expected to participate in the financing included First Abu
Dhabi Bank, Abu Dhabi Islamic Bank and Union National Bank.
(Reuters)
Nakheel plans Sukuk sale, mall financing – Nakheel, the
developer of the palm shaped islands off Dubai, is working with
a group of banks to raise a loan for a new mall and, separately, it
is planning to issue US Dollar-denominated Sukuk, according to
sources. The state-owned firm was one of the developers worst
hit by Dubai’s real estate crash at the turn of the decade, forcing
it into a massive debt restructuring. The company is now
planning to return to the debt market with a new public issue of
US Dollar-denominated Sukuk, which it could sell over the next
few months. Separately, the company is putting together a loan
needed to back construction of a new mall in Deira, Dubai’s
oldest cultural district. Emirates NBD is coordinating the
financing, which will involve a consortium of local banks and
should reach completion by the end of this year. One of the
sources said the deal is expected to be around AED4bn.
(Reuters)
Actis, TPG picked to take over some Abraaj funds – Actis has
been picked as the preferred bidder for the management rights
of Abraaj’s Africa funds, sources said, as liquidators begin
breaking up the operations of what was once the Middle East’s
largest private equity firm. Among Abraaj’s other operations,
TPG has entered into exclusive negotiations to take over the
management of Abraaj’s $1bn Growth Markets Health Fund,
according to a letter to employees of the fund seen by Reuters.
(Reuters)
Dubai Chamber to head group on SME banking challenges –
Dubai Chamber of Commerce and Industry (Dubai Chamber)
will head a new working group which will be tasked with
engaging various public and private sector stakeholders and
tackling a variety of banking challenges faced by SMEs,
startups and entrepreneurs in Dubai. The announcement of the
new working group was among the key recommendations
outlined by industry experts who participated in a panel
discussion recently held as part of Dubai Startup Hub’s
Entrepreneurship Advocacy Series. The event, hosted at Dubai
Chamber’s premises, was attended by representatives of the
UAE Ministry of Economy, leading UAE banks, heads of
licensing authorities, local incubators, startups and SMEs.
(GulfBase.com)
CBD, PwC Middle East in digital innovation pact – The
Commercial Bank of Dubai (CBD) and PwC Middle East recently
signed an agreement on an innovation program that will help
the bank in its objective to become default digital and in
providing an exceptional customer experience by collaborating
with Fintech start-ups. During the year-long initiative, CBD will
look to solve key business problems, improve efficiency and
identify new opportunity areas across all areas of business.
(GulfBase.com)
Aldar Investment Properties set to raise $500mn in Sukuk –
Aldar Investment Properties, a fully owned subsidiary of Abu
Dhabi’s largest developer Aldar Properties, is set to raise
$500mn in seven-year Sukuk, according to a bank document
reviewed by Reuters. The company is offering investors 170
basis points over mid-swaps for the notes. (Reuters)
Bloomberg News survey: Kuwait’s economy to expand 1.9%
YoY in 2018 – Kuwait’s economy will expand 1.9% in 2018
according to Bloomberg News survey; the forecast remains
unchanged versus prior survey. In 2019, Kuwait’s GDP will
expand 3% YoY (versus prior 2.8%). Further, 2018 CPI forecast
was unchanged at 2% YoY and 2019 CPI was forecasted at 2.4%
YoY (versus prior 2.5%). (Bloomberg)
Kuwait’s central bank looks to regulate ‘e-payment’ system –
The Central Bank of Kuwait (CBK) has issued instructions for
all service providers, including companies and institutions, to
register in its electronic payment (e-payment) system. All
service providers are required to regulate their e-payment
transactions in line with established regulations, CBK said in a
statement posted on its official website. All e-payment
methods are subject to the scrutiny of CBK, the statement
added, citing the central bank’s Governor, Dr Mohammad Al-
Hashel, as saying that the new instructions are part of plans to
propel the local banking sector. On these plans for growth, Al-
Hashel said that a team of experts and specialists has been
assembled to look into the most cutting-edge financial services
and products. He highlighted the widespread use of e-payment
methods in Kuwait, assuring clients of foolproof security,
despite the alarming rise in global banking fraud.
(GulfBase.com)
Bloomberg News survey: Oman’s economy to expand 3.2% YoY
in 2018 – Oman’s economy will expand 3.2% YoY in 2018 versus
prior 2.8%, according to a Bloomberg News survey. In 2019,
Oman’s GDP is expected to expand 3.1% YoY (versus prior 3%).
Further, CPI is expected to grow 1.2% YoY in 2018 (versus prior
1.7%) and 3% YoY in 2019 (versus prior 2.8%). (Bloomberg)
Liwa Plastics project worth $6.7bn on track for 2020 completion
– Orpic, Oman’s refining and petrochemicals flagship, has
6. Page 6 of 7
revealed that the country’s most anticipated transformational
project, Liwa Plastics Industries Complex (LPIC), is currently
67% complete across all four of its Engineering-Procurement-
Construction (EPC) packages. The project is set to improve
Orpic’s product mix and business model, double its profit and
support the development of a downstream plastics industry in
Oman. Construction is ongoing and is expected to be completed
by 2020, Orpic stated. LPIC achieved 31mn LTI-free man-hours
out of 47mn man-hours spent since the project was kicked off.
The overall cumulative progress achieved was 67.8% against
the revised plan of 69.8% till June 2018. With a total
investment of $6.7bn, LPIC is expected to boost Orpic’s
contribution to develop In Country Value (ICV) for the national
economy. (GulfBase.com)
CBO’s board meeting discusses key issues – The Central Bank of
Oman’s (CBO) Board of Governors held its third meeting of the
year on September 23 under the Chairmanship of Deputy
Chairman of the Board of Governors, Sultan bin Salim bin Said
Al Habsi. The board discussed, among other issues, the CBO
report on the volume of funding extended by the banking sector
in the Sultanate to the small and medium enterprises (SMEs).
The board approved the proposed executive plan for the
establishment of a National Bureau for Credit and Financial
Information by studying the procedures taken up by CBO for
the establishment of the bureau. The board also welcomed, in
principle, the procedures and endeavors aimed at the merger of
a number of banks in the Sultanate with the view of forming
large banking entities that can be more competitive and capable
of meeting the evolving challenges and changes in the banking
sector. (GulfBase.com)
Bloomberg News survey: Bahrain’s economy to expand 3.1%
YoY in 2018 – The economy of Bahrain will expand 3.1% YoY
(versus prior forecast of 2.9%) in 2018, according to Bloomberg
News survey. In 2019, Bahrain’s GDP forecast was unchanged
at 3% YoY. Further, 2018 CPI forecast was unchanged at 2.5%
YoY and 2019 CPI forecast stood at 3.5% YoY (versus prior 3%).
(Bloomberg)
Central Bank of Bahrain’s net foreign assets rebound in August
– Central Bank of Bahrain’s net foreign assets, an indication of
its ability to defend its currency against market pressure,
rebounded in August, Central Bank of Bahrain stated. The
assets rose to BHD734.2mn last month from BHD499.4mn in
July, which was a one-year low. Net foreign assets at Bahraini
retail banks increased in August but remained sharply negative,
at minus BHD1.07bn against minus BHD1.17bn in the previous
month. Foreign assets have been under pressure as Bahrain
runs fiscal and current account deficits fuelled by low oil prices.
The rebound in reserves may reassure investors that Bahrain
can smoothly redeem a $750mn Islamic bond due this
November. (Reuters)
Bahrain sells BHD70mn 91-day bills – Bahrain sold BHD70mn of
bills due December 26 on September 23. Investors offered to buy
1.1 times the amount of securities sold. The bills were sold at a
price of 98.957, have a yield of 4.17% and will settle on
September 26. (Bloomberg)
Investcorp adds UK's former Defense Secretary to advisory
board – Bahrain’s Investcorp, an alternative investment
management firm that counts Mubadala Investment Company
as its biggest shareholder, added the UK’s former Secretary of
State for Defense, Sir Michael Fallon, to its international
advisory board. Sir Michael Fallon, who served as British
Member of Parliament for more than three decades, will advise
the company on its global growth strategy. Executive Chairman
of Investcorp, Mohammed Alardhi stated, “As we continue to
grow as a global firm, seeking relevant counsel to bring fresh
new perspectives to our business is essential.” He added, “Our
international advisory board consists of some of the best minds
around the world providing us with guidance on emerging
business and policy issues globally.” (GulfBase.com)
7. Contacts
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
QNB Financial Services Co. W.L.L.
Contact Center: (+974) 4476 6666
PO Box 24025
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
financial advice. QNBFS accepts no liability whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of
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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 September 20, 2018)
Source: Bloomberg Source: Bloomberg (*$ adjusted returns; Market was closed on September 24, 2018)
50.0
75.0
100.0
125.0
Aug-14 Aug-15 Aug-16 Aug-17 Aug-18
QSEIndex S&P Pan Arab S&P GCC
0.5%
(0.4%)
0.0%
0.3%
(0.7%)
(0.1%)
(0.3%)
(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 1,199.09 0.0 0.0 (8.0) MSCI World Index 2,193.01 (0.3) (0.3) 4.3
Silver/Ounce 14.26 (0.2) (0.2) (15.9) DJ Industrial 26,562.05 (0.7) (0.7) 7.5
Crude Oil (Brent)/Barrel (FM Future) 81.20 3.0 3.0 21.4 S&P 500 2,919.37 (0.4) (0.4) 9.2
Crude Oil (WTI)/Barrel (FM Future) 72.08 1.8 1.8 19.3 NASDAQ 100 7,993.25 0.1 0.1 15.8
Natural Gas (Henry Hub)/MMBtu 3.04 0.7 0.7 (1.6) STOXX 600 382.14 (0.4) (0.4) (3.9)
LPG Propane (Arab Gulf)/Ton 105.75 1.4 1.4 6.8 DAX 12,350.82 (0.4) (0.4) (6.4)
LPG Butane (Arab Gulf)/Ton 118.75 1.3 1.3 9.4 FTSE 100 7,458.41 (0.1) (0.1) (5.9)
Euro 1.17 (0.0) (0.0) (2.1) CAC 40 5,476.17 (0.1) (0.1) 0.9
Yen 112.80 0.2 0.2 0.1 Nikkei#
23,869.93 0.0 0.0 4.8
GBP 1.31 0.4 0.4 (2.9) MSCI EM 1,042.35 (0.9) (0.9) (10.0)
CHF 1.04 (0.6) (0.6) 1.0 SHANGHAI SE Composite#
2,797.49 0.0 0.0 (19.8)
AUD 0.73 (0.5) (0.5) (7.1) HANG SENG 27,499.39 (1.6) (1.6) (8.1)
USD Index 94.19 (0.0) (0.0) 2.2 BSE SENSEX 36,305.02 (2.2) (2.2) (6.6)
RUB 65.85 (0.9) (0.9) 14.3 Bovespa 77,984.18 (2.7) (2.7) (17.2)
BRL 0.24 (1.0) (1.0) (19.0) RTS 1,162.98 1.2 1.2 0.7
79.6
77.2
75.6