Category: Market

Posted on

Qatar Sets New Records in Air Transport Sector

The air transport industry in the State of Qatar witnessed an unprecedented increase in the number of passengers during the current year 2023, reaching its highest levels during May, June, July and August.

Mohammed Faleh Al Hajri, in charge of managing Civil Aviation Authority (QCAA) revealed that large numbers of passengers were registered through Hamad International Airport, especially during the months of May, June, July and August of this year, compared to the numbers of passengers recorded in these same months during previous years.

Al Hajri explained that the number of passengers during the months of July and August 2023 is the highest ever since the start of the airports operations, as the numbers exceeded 4 million passengers each month.

He added that this significant increase in the number of arriving and departing passengers alike is due to many factors that contributed to reaching these record numbers, the most notable is the increased connectivity between the State of Qatar and the rest of the world, and the increasing importance of the State of Qatar as a tourist and commercial destination and an important center that attracts many visitors annually, in addition to the global expansion of the Qatar Airways network that connects Qatar to all parts of the world.

It also showed expectations for the number of passengers for the year 2023 issued by the Air Transport Department at the General Authority of Civil Aviation – which was approved after updating flight schedules and based on the air transport forecast model – the possibility of registering record numbers in the coming months of the current year 2023, reaching rates and numbers higher than those recorded in 2019, which indicates further recovery in the air travel market.

Expectations also indicate that the number of passengers in 2023 could reach about 43 million passengers, which is consistent with the Air Transport Administrations expectations of completing the recovery from the effects of COVID-19 by 2023, and exceeding the operating rates recorded in the pre-pandemic period. (QNA)

Source: Qatar News Agency

Posted on

Saudi Stock Exchange Main Index Ends Trading Lower at 11061 Points

The Saudi Stock Exchange main index ended trading higher today, losing 9.27 points to close at 11061.50 points.

The total value of trading reported was SAR5.2 billion, while the total number of shares traded was 182 million.

The Saudi Parallel Market Index (NOMU) ended the day by losing 16.31 points to close at 22393.08 points, with a valuation of SAR99 million.

Source: Saudi Press Agency

Posted on

Bahrain All Share Index marks 1,922.12 points

Bahrain All Share Index closed at 1,922.12 points, marking a decrease of 2.70 points below the previous closing.

This decrease was due to the drop in the material sector.

Bahrain Islamic Index closed at 717.46 points, marking a decrease of 2.54 points below the previous closing.

Results indicated that 36 equity transactions took place with a volume of 1,292,665 worth BD 463,110.

Investors traded mainly in the material sector representing 50.41% of the total value of securities traded.

Source: Bahrain News Agency

Posted on

Bahrain All Share Index marks 1,924.82 points

Bahrain All Share Index closed at 1,924.82 points marking a decrease of 6.67 points below the previous closing.

Bahrain Islamic Index has drop at 720.01 points marking a decrease of 5.40 points below the previous closing.

Results indicated that 59 equity transactions took place with a volume of 1,717,253 worth BD 251,504.

Investors traded mainly in the financial sector representing 73.48% of the total value of securities traded.

Source: Bahrain News Agency

Posted on

Bahrain participates in G77 + China Summit

Deputised by His Majesty King Hamad bin Isa Al Khalifa, Foreign Affairs Minister, Dr. Abdullatif bin Rashid Al-Zayani, has participated in Group 77 plus China (G77 + China) Summit on “Science, Technology and Innovation”.

Cuban President, Miguel Diaz-Canel, in addition to presidents and heads of governments of the Group Member states, attended the summit, held in Havana, Cuba.

Addressing a session held today, the Foreign Affairs Minister conveyed the greetings of His Majesty King Hamad bin Isa Al Khalifa, and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to the Cuban President, as well as their wishes for success to the summit.

Dr. Al-Zayani said that the kingdom stresses the importance of the role played by G77 + China in promoting effective international cooperation, reiterating Bahrain’s commitment to enhancing international cooperation in science, technology and innovation, in addition to all necessary development fields, out of its belief that the challenges facing developing countries can be turned into real work opportunities, through unifying efforts, energies and capabilities.

“The Kingdom of Bahrain, as a pacifist country, constantly seeks to promote peace in the region, and harmonious coexistence among all the its diverse peoples,” he said, noting that the kingdom’s goal is to create a safe, sustainable environment in which differences in religion, sect, race, creed, or ideology do not hinder progress, or prevent the pursuit of peaceful relations.

“The Kingdom of Bahrain believes in the importance of protecting and promoting human rights and fundamental freedoms for all individuals, regardless of their backgrounds or beliefs,” he added.

“In today’s complex world, which is characterised by many challenges and conflicts, it is necessary to reaffirm our commitment to peaceful means of resolving conflicts and promoting understanding among nations,” he said, adding that “the Kingdom of Bahrain firmly believes that dialogue, mutual respect and cooperation are the basic pillars of achieving sustainable peace and stability.”

The Foreign Affairs Minister called on G77 + China to step up its collective efforts to address the pressing issues facing developing countries, noting that the kingdom recognises the importance of comprehensive and equitable development in guaranteeing the well-being of all individuals and leaving no one behind.

He also indicated that Bahrain believes that empowering people, especially the most vulnerable, and promoting sustainable economic growth, will achieve stability and prosperity for all.

“Bahrain believes in the importance of investing in knowledge-based industries to build a sustainable competitive economy. Through its national strategy for the communications and information technology sector and the digital economy, the kingdom affirms its commitment to devoting a culture of innovation and research, and benefiting from science and technology as tools to enhance productivity, promote entrepreneurship, confront societal challenges, and focus on vital areas such as renewable energy, artificial intelligence and digital transformation,” he added.

He indicated that, based on its belief in the principles of international cooperation, Bahrain renews its call to involve governments and regional organisations in formulating sustainable solutions to crises, exchanging best practices, and supporting initiatives that bridge the gaps between developing countries and developed ones to ensure that the benefits of scientific progress are accessible to all, which will pave the way for achieving the common vision of creating a peaceful and prosperous world capable of facing challenges.

Source: Bahrain News Agency

Posted on

National Competitiveness Center, WEF Sign Agreement to Facilitate Trade in Services

The National Competitiveness Center (NCC) and the World Economic Forum (WEF) today, at the WEF headquarters in Geneva, signed a cooperation agreement to facilitate and develop the trade in services in the Kingdom of Saudi Arabia and increase its competitiveness in global markets.

Minister of Commerce and Chairman of the Board of Directors of NCC Dr. Majid bin Abdullah Al-Qasabi said that the agreement is part of the trade system in the Kingdom of Saudi Arabia to contribute to realizing initiatives of the Saudi Vision 2030 that aim to enhance sustainable economic development and increase the connectivity of the national economy regionally and internationally, where the trade in services in the Kingdom of Saudi Arabia is considered a promising opportunity in various vital sectors.

Dr. Al-Qasabi added that the agreement is a quality addition to international efforts that resulted from the reference paper of the World Trade Organization regarding the local organization of services and the protocol of the African Continental Free Trade Area (AfCFTA), where the agreement seeks to frame and facilitate the trade in services in partnership with WEF.

During the signing ceremony, Vice Minister of Commerce and CEO of the NCC Dr. Iman Al-Mutairi said that this agreement is part of the keenness to benefit from various international expertise to ensure following the best methods and practices that lead to enhancing the competitiveness of the Kingdom of Saudi Arabia through facilitating laws and regulations of the trade in services and exporting them, which would eventually support the Kingdom’s international trade.

Source: Saudi Press Agency