Category: Market

Doha: Qatar Development Bank and its affiliate Qatar Export Development andFinance and Promotion Agency (TASDEER) concluded its trade activities in the Republic of South Korea, as a continuation of its efforts to support the Qatari producers and entrepreneurs to access new markets and further develop and diversify the national economy.

Executive Director of TASDEER, Khalid Abdullah Al Mana, stressed the importance of such initiatives to support Qatari products and facilitate the entry of the national product into new markets, expressing TASDDER’s commitment to supporting Qatari entrepreneurs in their journey towards regional and global markets.

He added that this mission comes as a continuation of a series of successful commercial trips that were undertaken in the hope of opening the door for Qatari products to enter the Korean market.

HE Ambassador of the State of Qatar to the Republic of Korea, Khalid bin Ibrahim Al Hamar, along with a group of government representatives from the Republic of Korea, atten
ded the trade mission activities. In attendance were 21 Qatari exporting companies from various sectors including construction, plastics, and packaging, healthcare, sports technology, and tourism.

There were 120 bilateral meetings between Qatari companies and around 150 Korean companies and government institutions, which led to concluding over QAR 165 million deals.

TASDEER offers specialized initiatives and programs to enable Qatari exports in accordance with the National Development Strategy’s objectives to provide the appropriate conditions for the development and prosperity of the national economy.

Source: Qatar News Agency

Doha: Qatar Financial Markets Authority (QFMA) emphasized that is continuously working whenever necessary to review its legal legislation for the purpose of ongoing development and update in order to keep pace with local variables and the best international laws, standards and practices in force in this field, noting the important role played by capital markets regulators in regulating the work in such markets by providing the appropriate legislative environment for their optimal activities and performance.

Acting Director of Complaints Department at QFMA Noora Abdulaziz Al Emadi said since its establishment under Law No. (33) of 2005, QFMA has paid great attention to issue legal legislation that contributes to perform its functions and competencies and complete its work with the least effort and the fastest possible time, aiming to maintain confidence in the dealing system in the local market and enhance the integrity and transparency to ensure the continuity of its stability and reduce the risks may face,
so that such markets will be attractive for investments, and for investors’ funds and savings to be utilized in investment opportunities that achieve meaningful profits.

Al Emadi affirmed that QFMA is working to speed up the process of handling complaints, and on the need to inform all parties dealing in the Qatari capital market of the legal legislation in force, regulating the work of the market issued by QFMA, in particular the legal provisions stating the tasks of the QFMA’s licensed entities and the rights and duties of each party dealing in the market, including the investors.

She added that this would help identify the mechanisms, the proper methods and the correct way used to carry out the various operations in the market, and to review and be aware of the Rules and Procedures of Complaints issued by QFMA and published in the Official Gazette, which clarifies who has the right to lodge a complaint as well the mechanism and subject matter, which is often related to the failure of one of the concerned
parties to carry out its prescribed duties, or its failure to carry out an action directed to be done in accordance with the legal procedures established in this regard, or with regard to any abuses or breaches of the legal legislation in force that may have caused damage to another party or parties, and to indicate the methods of handling such complaints and taking appropriate action in this regard, with the aim of maintain the rights of market participants, recover the stolen rights and return them to their owners and hold violators accountable.

Al Emadi talked about ways to lodge a complaint via the QFMA’s website, or an e-mail to the Complaints Department’s e-mail, or by the recorded phone calls, or attend in person at the QFMA’s headquarters.

Al Emadi continued by saying that the Complaints Department receives positively complaints from investors and all concerned parties, and upon received, it immediately deals with, researches, and considers such complaints as per the prescribed procedures, then the
necessary recommendations are submitted in this regard. Thereafter, the required legal measures are taken within QFMA according to the approved judicial cycle, which may start with the complaint through the necessary investigations by an investigation committee formed for this purpose, following that take the necessary disciplinary actions against violators by the Disciplinary Committee. It may be appealed against the Disciplinary Committee’s decisions before the QFMA’s Appeals Committee, which is formed in its membership of three judges from the Court of Appeals, one of whom is a president of a court who heads this Committee, in addition to two experts, explaining that the Committee’s decisions may be challenged before the Court of Appeal, where its decisions are considered as a ruling of first degree, until the procedures are completed by a ruling issued by the Court of Cassation, if necessary.

Source: Qatar News Agency

Doha: Qatar Stock Exchange index started Sunday’s trading session up by 0.40%, adding 38.52 points to reach the level of 9741 points, compared to last closing.

The index was supported by a rise in five sectors: Transportation by 0.93%; Real Estate by 0.58%, Banks and Financial Services by 0.39%; Telecoms by 0.37%; and Industrials by 0.14%. On the other hand, the index saw a decline in Insurance by 0.47%; and Consumer Goods and Services by 0.26%.

At 10:00 am, 31.154 million shares were traded in 2,535 transactions valued QR 69.323 million.

Source: Qatar News Agency

Doha: Msheireb Properties and Schneider Electric signed a Memorandum of Understanding (MoU) to explore enhancing the smart city capabilities of Msheireb Downtown Doha (MDD).

The collaboration will leverage Schneider Electric’s expertise in digital automation and energy management. As part of the agreement, Schneider Electric will conduct a three-month Proof of Concept (POC) project to showcase the capabilities of its Smart City Integration platforms. The POC will explore applications for traffic management, proactive and predictive maintenance of facilities for corporate tenants, predictive analysis for MEP facilities, and corrective decision-making to serve individual residents before complaints arise.

“We are excited to partner with Schneider Electric to further enhance the smart city capabilities of Msheireb Downtown Doha. Urban environments are some of the biggest drivers of energy consumption and carbon emissions globally, a trend that is only expected to grow in the coming decades,” said CEO of Mshei
reb Properties Eng. Ali Al Kuwari. “This collaboration aligns with our vision to stay on the cutting edge of tech innovation and adoption of sustainable, energy-saving solutions that use data analytics and artificial intelligence to provide a hassle-free and interconnected experience for our visitors and tenants.” Country Manager, Qatar and Kuwait at Schneider Electric Louie Jarouche added, “Schneider Electric is committed to making cities and communities to be more innovative and energy-efficient. This enables both living and working spaces to be sustainable, connected and responsive to the needs of its dwellers. We are eager to work with Msheireb Properties to realize the potential of smart city technologies in enhancing wellbeing and creating resilient, and innovative urban environments of the future.” Msheireb Properties is a subsidiary of Qatar Foundation for Education, Sciences and Community Development and Qatars leading sustainable property developer, while Schneider Electric is a global leader in di
gital transformation of energy management and automation.

Source: Qatar News Agency

The price of Kuwait oil went up 84 cents to reach USD 85.74 per barrel on Friday as opposed to USD 84.90 pb the day before, said the Kuwait Petroleum Corporation (KPC).

In international markets, price of the Brent Crude went up 71 cents to reach USD 83.98 pb, while the West Texas Intermediate went up 83 cents to USD 80.06 a barrel.

Source: Qatar News Agency

Doha: HE Deputy Minister of Enterprises and Made in Italy Valentino Valentini has praised the significant development witnessed by Qatar and its emerging status as an important center for business and investment. He affirmed Italy’s commitment to strengthening cooperative relations with Qatar across various fields.

In his speech at the “Qatar-Italy Roundtable Business Meeting” organized by the Ministry of Commerce and Industry at the Qatar Chamber, Valentini invited Qatari businessmen to invest in Italy, highlighting his country’s ambitions to become a business hub.

Speaking at the meeting, Valentini emphasized that the meeting represented an important step in strengthening the fruitful relations between both countries. He noted that the Italian delegation comprised numerous leading firms and businessmen from various sectors including energy, healthcare, ICT, infrastructure, banking, real estate, and others.

Valentini praised the significant development Qatar is witnessing, indicating that it has become a
hub for business and investment.

He also noted Italy’s ambition to similarly become a hub for business and investment, citing numerous legislative reforms aimed at streamlining the business environment, particularly in sectors abundant with investment opportunities.

“Qatar and Italy share common interests in trade and investment, aspiring to serve as models in the realm of business and investment. Italy, for its part, is keen to strengthen cooperation relations with Qatar across all fields,” he added.

In his remarks, HE the QC Chairman highlighted the robust and rapidly growing relations between Qatar and Italy. He noted that their bilateral trade witnessed a remarkable growth of 80 percent in 2023, reaching QR 20 billion, compared to QR 11.1 billion in 2018, citing Italy as an important and promising trade and economic partner to Qatar.

As for mutual investments, His Excellency noted that there are many Italian companies operating in Qatar in various sectors, including building materials, construction ma
chinery and equipment, information technology, trade, services, and other vital sectors.

He also pointed to many Qatari successful investments in Italy in different sectors such as real estate, and hospitality.

QC Chairman emphasized that the Qatari private sector is eager to strengthen cooperation links with its Italian counterpart by establishing trade alliances and long-term partnerships. He also reiterated the Chamber’s support for fostering convergence and cooperation between the business sectors of both nations.

Furthermore, he invited Italian companies to invest in Qatar, highlighting its world-class infrastructure, supportive business environment, and advanced economic legislation, which allows for 100% ownership by foreign investors across almost all sectors.

For his part, Assistant Undersecretary for Industrial Affairs and Business Development at the Ministry of Commerce and Industry, Saleh bin Majid Al Khulaifi, said that Italy is an important partner for Qatar and one of the most important des
tinations for Qatari investments. He highlighted the existence of numerous agreements and memoranda of understanding signed between the two countries.

Al Khulaifi commended the valuable efforts of Italian companies operating in Qatar, noting that they contributed to supporting the state’s economic diversification plans, in line with the key sectors identified within Qatar National Vision 2030.

He invited Italian investors and companies to benefit from Qatar’s distinguished economic and investment environment, which provides various incentives, and legislations aimed at encouraging foreign investors, businessmen, and company owners.

During the meeting, Maryam Hamad Al Malki, a Senior Executive of Investor Relations at the Investment Promotion Agency Qatar, delivered a presentation on Qatar’s investment climate, opportunities, and incentives. She also outlined the procedures for doing business and highlighted the opportunities offered by the free zones for foreign investors.

In turn, Roberto Rizzardo, head
of FDI Invitalia, reviewed the investment opportunities available in Italy, which is one of the important economies in the G20 Group and a gateway to the European market. He also highlighted the most promising sectors for investment such as chemical industries, green technology, food, electronics, ICT, cyber security, and others.

Source: Qatar News Agency