QSE General Index Closes 0.21 Percent Higher

Doha: The Qatar Stock Exchange (QSE) index closed Wednesday’s trading gaining 19.86 points, or 0.21 percent, reaching a level of 9,686 points.

During the session, 92,867,939 shares were traded, with a total value of QR 312,559,514.176, resulting from…


Doha: The Qatar Stock Exchange (QSE) index closed Wednesday’s trading gaining 19.86 points, or 0.21 percent, reaching a level of 9,686 points.

During the session, 92,867,939 shares were traded, with a total value of QR 312,559,514.176, resulting from the execution of 13,526 transactions across all sectors.

In today’s session, the shares of 22 companies increased, and the shares of 23 other companies decreased, while four companies maintained their previous closing prices.

The market capitalization at the end of the trading session stood at QR 562,714,032,617.480, compared to QR 561,472,582,115.630 in the previous session.

Source: Qatar News Agency

European Stocks Decline, Affected by Losses in Real Estate, Technology Companies

European stocks closed lower at the end of Wednesday’s trading, affected by losses in real estate and technology companies.

The European stoxx600 index ended trading down by about 0.2 percent, with the real estate sector index falling by 1.2 percent …


European stocks closed lower at the end of Wednesday’s trading, affected by losses in real estate and technology companies.

The European stoxx600 index ended trading down by about 0.2 percent, with the real estate sector index falling by 1.2 percent and the technology stock index falling by 1.1 percent.

The French CAC 40 index also closed down by about 0.8 percent at the close of trading.

On the other hand, the raw materials stock index achieved the best performance among European stock sectors after rising by 0.6 percent thanks to the recovery in metal prices.

The British Financial Times 100 index also recovered from its losses earlier in the trading session, closing with an increase of about 0.2 percent.

European stocks witnessed sharp losses last week after French President Emmanuel Macron called for early legislative elections.

Source: Qatar News Agency

China Opposes UK Sanctions Against Chinese Firms

China on Wednesday voiced firm opposition to the United Kingdom’s decision to sanction five Chinese firms alleged Russian involvement.

Despite China’s representations and the sound development momentum of China-UK economic and trade relations, the UK…


China on Wednesday voiced firm opposition to the United Kingdom’s decision to sanction five Chinese firms alleged Russian involvement.

Despite China’s representations and the sound development momentum of China-UK economic and trade relations, the UK insisted on listing Chinese companies in the latest round of sanctions against Russia. Such move will have a negative impact on the bilateral economic and trade relations, said a spokesperson of China’s Ministry of Commerce in response to a media query.

UK’s unilateral sanctions have no basis in international law and no mandate from the United Nations, which is a typical act of “long-arm jurisdiction,” said the spokesperson.

China urges the British side to bear in mind the overall interests of bilateral economic and trade cooperation, immediately correct its erroneous practices, and unconditionally cease the inclusion of Chinese enterprises on its sanctions list, said the spokesperson.

China will safeguard the legitimate rights and interests of Chinese enterp
rises resolutely, the spokesperson added.

Source: Qatar News Agency

European Commission Proposes 200 billion Euros Budget for EU in 2025

The European Commission (EC) on Wednesday proposed a European Union (EU) budget for 2025 estimated at approximately 200 billion euros ($215 billion), in addition to 72 billion euros from a Debt Financing Fund established in 2020 for economic recovery …


The European Commission (EC) on Wednesday proposed a European Union (EU) budget for 2025 estimated at approximately 200 billion euros ($215 billion), in addition to 72 billion euros from a Debt Financing Fund established in 2020 for economic recovery from the consequences of the Corona (COVID-19 pandemic) .

The largest share of the budget will be allocated to agricultural support, amounting to about 54 billion euros, while a share of 49 billion euros will be allocated to regional development in the poorest regions of Europe.

The 2025 budget represents the annual tranche of the European Union’s seven-year budget from 2021 to 2027, which was drawn up in 2020 but increased earlier this year.

The European Union budget (EU) sets maximum limits on what the EU can spend in various areas, and most of the revenues needed to cover spending consist of contributions from member states, based on the gross national income of each country, and part of the funding also comes from customs and other fees.

Normally, the Eur
opean Union (EU) is not allowed to borrow to finance the budget, but the countries of the bloc agreed, during the Covid-19 pandemic, exceptionally in 2020 to develop a separate recovery budget to finance debts called the Next Generation European Union (EU) programme.

According to estimates by the European Commission (EC), about 72 billion euros from the Next Generation European Union (EU program are scheduled to be spent in 2025.

Most of this amount will be spent on reform plans drawn up by member states, although part of it will cover items in the main European Union (EU) budget.

It is noteworthy that the member states of the European Union (EU) and the European Parliament (EP) must approve the draft 2025 budget.

Source: Qatar News Agency

Industrial Production Index Down by 3.1 Percent in April

Doha: The National Planning Council has issued a press release in industrial production index for April 2024, calculated using 2018 as a base year, showing a decrease by 3.1 percent compared to the previous month (March 2024).

This indicator reflects…


Doha: The National Planning Council has issued a press release in industrial production index for April 2024, calculated using 2018 as a base year, showing a decrease by 3.1 percent compared to the previous month (March 2024).

This indicator reflects the growth of details of the growth of the various industrial economic sectors that make up it, with a different relative weight they have, such “Mining and quarrying” 82.46 percent, “Manufacturing” 15.85 percent, “Electricity, gas, steam, and air conditioning supply” 1.16 percent, and “Water supply” 0.53 percent.

It is also a short-term quantitative index that measures the changes in the volume of productions of a selected basket of industrial products over a given period with respect to that in a chosen period called the base period, it studies and analysis the economic level of the state, and the growth of various industrial sectors in economy index details.

The Industrial Production index (IPI), April 2024 reached 100.1 point, decreased by 3.1 percent comp
ared to the previous month (April 2024), and decreased by 5.9 percent, when compared to the corresponding month in 2023.

The index of the “Mining” sector showed a decrease by 3.3 percent compared to the previous month (March 2024), due to the decrease in the quantities of “crude oil petroleum and natural gas” with the same percentage, and “Other mining and quarrying” decreased by 5.7 percent.

When compared to the corresponding month of the previous year (April 2023), the IPI of Mining decreased by 6.1 percent, due to the decrease in the quantities of “crude oil petroleum and natural gas” with the same percentage, and “Other mining and quarrying” decreased by 5.5 percent. Graphs (2) shows the trends of monthly IPI in the mining sector during April 2023 until April 2024.

The index of “Manufacturing” sector showed a decrease by 2.5 percent compared to the previous month (March 2024), The groups showed a decrease include: “Manufacture of Cement and other non-metallic mineral products” by 7.4 percent, followed
by “Manufacture of basic metals” by 6.4 percent, “Printing and reproduction of recorded media” by 5.6 percent, “Manufacture of food products” by 3.0 percent, and “Manufacture of chemicals and chemical products “by 1.8 percent. however, an increase was recorded in “Manufacture of beverages” by 4.2 percent, “Manufacture of refined petroleum products” by 1.2 percent, and “Manufacture of rubber and plastics products” by 0.3 percent.

On the other hand, in terms of annual change, comparing to April 2023, a decrease of 5.0 percent was recorded, due to the decrease in “Manufacture of basic metals” by 22.5 percent, followed by ”Printing and reproduction of recorded media.” By 9.1 percent, “Manufacture of Cement and other non-metallic mineral products” by 4.2 percent, “Manufacture of refined petroleum products” by 2.0 percent, “Manufacture of chemicals and chemical products” by 1.6 percent, “Manufacture of food products” by 1.3 percent, and “Manufacture of rubber and plastics products” by 0.3 percent, However, an
increase was recorded in “Manufacture of beverages” by 1.2 percent.

The index of the “Electricity, gas, supply” sector showed a decrease of 2.8 percent was noticed in the production of “Electricity” between April 2024 and the previous month (March 2024). Compared with the corresponding month (April 2023), a decrease of 11.2 percent was recorded.

Meanwhile the “Water Supply” index showed a decrease of 2.3 percent was noticed in the production of ”Water’ between April 2024 and the previous month (March 2024). Compared with the corresponding month (April 2023), a decrease of 1.1 percent was recorded.

Source: Qatar News Agency

China Reducing Energy Consumption Intensity Exponentially

The People’s Republic of China’s National Development and Reform Commission (NDRC) announced that China has become at the forefront of countries with the fastest energy intensity reduction.

In its statement cited by Xinhua News Agency, the NDRC added…


The People’s Republic of China’s National Development and Reform Commission (NDRC) announced that China has become at the forefront of countries with the fastest energy intensity reduction.

In its statement cited by Xinhua News Agency, the NDRC added that China’s ability to safeguard its energy supply has increased significantly, and its international energy cooperation has been strengthened on all fronts, thanks to its new energy security strategy.

The statement continued by saying that China has achieved remarkable results in reforming its energy consumption patterns in recent years, with total energy consumption effectively controlled and energy consumption structure significantly improved.

According to the NDRC, China’s energy intensity, the amount of energy consumed per unit of GDP, decreased 26.4 percent from 2013 to 2023.

Source: Qatar News Agency