Category: Market

Doha: The net profits of Estithmar Holding rose by 10.3 percent to reach QR 111,696,913 in the first quarter of 2024 compared to QR 101,213,723 during the same period in 2023.

In data published on the Qatar Stock Exchange (QSE) website, the company indicated that the earnings per share in the first quarter of 2024 reached QR 0.033 versus 0.030 for the same period in 2023.

Source: Qatar News Agency

German national railway Deutsche Bahn plans to renew 2,000 kilometers of track and 2,000 points this year as part of an effort to update the ageing rail infrastructure in Germany.

Total investments in rail infrastructure by Deutsche Bahn as well as Germany’s national and local governments will total around 16.4 billion euro ($17.5 billion) in 2024 alone, the state-owned railway announced on Monday.

The most recent annual network status report from 2022 estimates the “age-based backlog demand” at $103.4 billion, with needed work on bridges making up more than half of that, 59.9 billion euro, according to the German News Agency (dpa).

The most important rail construction project this year will be the general refurbishment of the Riedbahn rail corridor between Frankfurt and Mannheim.

The line, a major north-south transport corridor for western Germany, is scheduled to be completely closed for five months.

Source: Qatar News Agency

HE Minister of State for Energy Affairs and the President and CEO of QatarEnerg, Eng. Saad bin Sherida Al Kaabi met in Beijing on Monday with Chairperson of China Merchants Group Miao Jianmin, Chairperson of Shandong Marine Group Jiang Guodong, and Vice President of China Ocean Shipping Company (COSCO) Shipping Group Zhang Yong.

The meeting with the leaderships of the three Chinese shipowners took place on the sidelines of the signing ceremony of long-term time charter party agreements for the operation of nine QC-Max LNG vessels as part QatarEnergy’s historic LNG fleet expansion program.

Source: Qatar News Agency

Riyadh, The Saudi Central Bank (SAMA) and the Bank for International Settlement (BIS) are co-hosting here on April 29-30 a high-level regional meeting on Reserve Management.

SAMA Governor Ayman M. Al-Sayari noted that the evolving global landscape presents new challenges and opportunities for central bank reserve managers, and highlighted the need to navigate the complexities of the current macro-financial environment.

The meeting brings together reserve managers and experts from central banks from the Middle East and North Africa region (MENA), as well as from other central banks, to discuss the latest trends in managing foreign exchange reserves. Participants will have the opportunity to exchange insight, perspectives and expertise on the most critical aspects regarding reserve management through a series of panel discussions and keynote speeches.

Among the attendees were BIS General Manager Agustin Carstens.

Source: Saudi Press Agency

Doha: The National Workshop on Trade Agreement Negotiations organized by the Ministry of Commerce and Industry (MoCI) in collaboration a training institute of World Trade Organization (WTO) kicked off Monday. The event is set to continue until May 2.

The four-day workshop tackled the core trade negotiation skills, the good preparation prior to engaging in the negotiations, how to properly apply such skills to ensure the intended objectives of the negotiations through invoking a multitude of interactive and practical applications and trainings between experts and participants.

The workshop saw the participation of several government bodies, namely the MoCI, Ministry of Communications and Information Technology, Ministry of Municipality, QatarEnergy, General Authority of Customs and Qatar Central Bank (QCB).

Director General of the MoCI’s Department of International Cooperation and Trade Agreements and chairman of the national coordination committee of WTO affairs, Saleh bin Abdullah Al Mana affirmed that t
he workshop comes within the MoCI’s efforts dedicated to enhancing the negotiation skills of the government staff within a development vision for the future of national economy. He pointed out that the event seeks to enable the employees to internalize the trade negotiation skills so as to advance negotiations, culminating in agreements that achieve shared interests at the regional and global levels.

Al Mana recalled the Fourth WTO Ministerial Conference held in Doha in 2001, which laid the groundwork for constructive development in the new track of world trade system, pointing out that the declaration of the conference acknowledged that it is imperative for all countries to capitalize on the opportunities and welfare gains achieved by the multi-lateral trade system.

The Doha Declaration approved the need for aiding the developing countries technically to further upgrade the level of skills in the negotiations on trade exchange, since the workshop, in question, falls under this technical assistance, he high
lighted.

Al Mana underlined that liberating trade exchange within the WTO and regional agreements, if used properly -whether nationally or globally- would constitute an effective tool to achieve equal growth among nations and ultimately accomplish a sustainable, economic and social development at the national level.

The workshop comes within the MoCI’s efforts devoted to holding technical cooperation events that would further build capacities and deepen the understanding among the government staff.

Source: Qatar News Agency

Doha: Under the patronage of HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, HE Minister of Commerce and Industry and Chairman of the Qatar Stock Exchange (QSE) Sheikh Mohammed bin Hamad bin Qassim Al-Thani opened the annual conference of the Arab Federation of Capital Markets (AFCM) 2024 today.

Taking place over two days, the conference has drawn approximately 250 delegates representing a spectrum of entities integral to the Arab financial landscape. Among the participants are delegates from member Arab stock exchanges, accredited brokerage firms, settlement and clearing companies, asset management institutions, governmental financial bodies, central banks, investment banks, regulatory authorities, financial market data providers, regional federations, and research centers.

In his opening address, HE Sheikh Mohammed bin Hamad bin Qassim Al-Thani emphasized the imperative for collaboration among Arab financial market institutions to fortify the investme
nt environment and promote integration. Highlighting the significance of technological localization, he advocated for the leveraging of resources to enhance infrastructure and technology across institutions.

Moreover, he underscored the interconnectedness of global economies and geopolitical shifts, urging Arab capital markets to forge partnership bridges and exchange experiences and ideas amidst international conditions marked by strong blocs and regional disturbances.

His Excellency expressed optimism that the conference would shed light on pivotal topics supporting the AFCM’s aspirations and its members. He stressed the importance of cultivating an advanced investment and financial environment conducive to facilitating transactions in regional and international financial markets.

HE Secretary-General of the Arab League, Ahmed Aboul Gheit, hailed Doha’s hosting of the conference as part of several important financial and economic events, noting that the conference agenda touches on important topics for A
rab markets. He acknowledged the conference as a platform for enhancing cooperation among Arab financial markets and emphasized the importance of its agenda, particularly focusing on sustainability, investor relations, Islamic finance, financial technology, digital assets, and the latest applications of artificial intelligence in financial markets. Aboul Gheit stressed the need to launch a regional Arab discussion that includes financial institutions, experts, and partners to determine Arab priorities in order to help develop a regional vision that contributes to building capabilities, updating legislation, and implementing investments that will maximize Arab financial markets’ benefits from artificial intelligence. He tackled the developments in the area of artificial intelligence and its role in shaping the future, emphasizing the importance of regulating its uses. Aboul Gheit called on all financial institutions, Arab unions and executive bodies in the Arab countries to pay attention to artificial intellig
ence and place it on the list of financial cooperation priorities in the coming period, demanding the establishment of Arab spaces to exchange experiences and coordinate policies in this regard. He voiced hopes that the conference’s work will be crowned with success and to come up with recommendations and results that serve joint efforts to enhance the integration of Arab financial markets.

Abdulaziz Nasser Al Emadi, the newly appointed President of the Arab Federation of Capital Markets (AFCM) and Acting CEO of Qatar Stock Exchange, delivered a keynote address during the inauguration of the AFCM Annual Conference in Doha. In his address, Al Emadi expressed his gratitude to the Arab delegations in attendance. He underscored the significance of this year’s conference, emphasizing its focus on addressing the opportunities and challenges confronting Arab capital markets. He highlighted the pivotal role of collaboration in fostering a conducive environment for investment and integration within the Arab financial
landscape. Al Emadi reaffirmed Qatar Stock Exchange’s commitment to working closely with AFCM members to advance the Union’s objectives, aligning with the collective aspirations of its constituents. He emphasized the pivotal role of exchanges in elevating the capabilities of Arab capital markets, pledging concerted efforts towards their development and growth. AFCM Secretary-General Rami El Dokany confirmed that the market values of Arab stock exchanges increased by 12.2 percent during the year 2023 to record $4.6 trillion, while liquidity decreased by 13.2 percent compared to the year 2022 to record $663 billion, whereas the number of transactions increased by 15.2 percent to record 129 million. As for listings, the region witnessed 49 new listings, with the Saudi Tadawul leading the listings with 35, followed by the Abu Dhabi Securities Market with 6. He pointed out that the conference will witness the signing of the Net Zero Pledge, as four Arab stock exchanges will sign it for the first time outside of th
e regular climate conferences, bringing the number of global stock exchanges signing this pledge to 15 global stock exchanges. The conference agenda comprises nine dialogue sessions over two days, focusing on critical topics relevant to the securities industry and the role of financial markets in its enhancement. These include digital transformations, sustainability of regional economies, shortening settlement periods, investor relations, Islamic finance, international sustainability standards, digital assets, and the integration of precious metals in investment portfolios. On the sidelines of the conference, two agreements have been signed between the AFCM and both the Chicago Mercantile Exchange and the African Securities Exchanges Association.

Source: Qatar News Agency