Daily Archives: January 29, 2017

European contenders Dortmund draw and Hertha lose

Berlin, Jumada I 01, 1438, January 29, 2017, SPA — Borussia Dortmund had to swallow a late 1-1 equalizer
at Mainz while Hertha Berlin lost 2-1 at Freiburg as two Champions
League contenders dropped points in the Bundesliga on Sunday, according to dpa.
Mainz’ Danny Latza cancelled out Dortmund’s early lead from Germany forward Marco Reus in the 83rd minute.
In Freiburg, Janik Haberer opened the scoring in the 39th, substitute Nils Petersen got the second in the 87th but the hosts had to sweat it out at the end after Julian Schieber smashed home for Hertha in the 88th. Dortmund are fourth with 31 points, one behind Eintracht Frankfurt and far off leaders Bayern Munich (45) and RB Leipzig (42). They are in Champions League territory but face a fight for places in Europe with Hoffenheim (31), Hertha (30) and Cologne (29).
Hertha meanwhile slipped from third during hibernation to sixth after also losing last weekend in Leverkusen. Freiburg are eighth and Mainz 10th.
Dortmund had won the last four games against Mainz, and their former Mainz coach Thomas Tuchel had a perfect start when winger Andre Schuerrle, also ex-Mainz, found Reus on the left edge of the area to get the opening goal in the third minute with a low shot into the left corner.
Yoshinori Muto wrongly had an equalizer ruled offside and Schuerrle came close on the hour but Mainz had the last laugh when Latza headed in Levin Oztunali’s cross at the far left post, and Pablo de Blasis almost stole an injury-time winner for the hosts.
“It is very disappointing. We wanted to go third again with a win.
The goal was too easy. Of course Mainz are good but we wanted to deny them,” Dortmund captain Marcel Schmelzer told Sky TV. In Freiburg, Haberer opened the scoring into the bottom left corner after being set up by Vicenzo Grifo’s low cross, and Petersen doubled the lead with a solo effort for his sixth season goal.
Schieber’s goal came too late for the visitors to create a turnaround, after Per Ciljan Skjelbred and former Freiburg player Vladimir Darida had missed earlier chances for them.
Hertha’s poor start out of the break brought back memories of past seasons in which they struggled in the second part of the season, such as last year when they dropped from third to seventh and outside European berths. “We want to defend sixth place. We are sixth … I don’t have to become hectic, its part of the game to lose twice away from home,” Hertha coach Pal Dardai said.
22:17 LOCAL TIME 19:17 GMT

Federer says 18th slam 'smallest' part of Melbourne triumph

MELBOURNE, Jumada I 1, 1438, Jan 29, 2017, SPA — Roger Federer said winning an 18th grand slam and extending his lead at the top of the list of most prolific major winners was a long way from being the most satisfying thing about winning his fifth Australian Open title on Sunday, Reuters reported.
The Swiss master, who did not play for six months following Wimbledon last year after undergoing knee surgery, made a triumphant return in Australia and, seeded a lowly 17th, claimed his first grand slam title for 4 1/2 years after a five-set epic against Rafa Nadal.
The 18th slam edged him further ahead of Nadal and Pete Sampras, who share second place on the list of major winners with 14, and gave more grist to those who argue that Federer is the greatest player of all time.
“That’s the smallest part, to be honest,” the 35-year-old told a packed news conference more than two hours after his victory.
“For me it’s all about the comeback, about an epic match with Rafa again. Doing it here in Australia … that I can still do it at my age after not having won a slam for almost five years.
“That’s what I see. The last problem is the slam count. Honestly, it doesn’t matter.”
The win was his first against Nadal in Melbourne and snapped a six-game losing streak against the Spaniard at grand slams, with his last major win over his rival coming in the 2007 Wimbledon final.
“We go furthest back, you know,” he said of his rivalry with Nadal.
“Rafa definitely has been very particular in my career. I think he made me a better player. The way his game stacks up with me, it’s a tricky one. It remains for me the ultimate challenge to play against him. So it’s definitely very special.
“I haven’t beaten him in a grand slam final for a long, long time now. Now I was able to do it again.”
18:47 LOCAL TIME 15:47 GMT

Qatar Germany Year of Culture 2017 to Start Wednesday

Doha, The Qatar – Germany year of culture 2017 will kick off on Wednesday with a concert by Qatar Philharmonic Orchestra at the Katara Opera House.

The orchestra will play four movements from “Doha Secrets” symphony which will be played featuring a number of Qatari artists including Dana Al Ferdan, wael bin Ali and Haamed Hussein Al Naama. From Germany, conductor David Niemann and Gerhard Oppitz will be on the piano.

This year will see more than a dozen events held in Doha and other in Germany. One of them will be an exhibition on the life of some Qatari citizens in Germany. This year’s events aim to strengthen the culture ties between the people of Qatar and their counterparts in Germany.

It is the sixth time that Qatari Museums hold this event. It began with Japan in 2012. It then followed with the United Kingdom, Brazil, Turkey and China in 2013 all the way to 2016.

Source: Qatar News Agency

Weather Bureau Warns Expected Poor Horizontal Visibility at Places

Doha, The Department of Meteorology warned Sunday of expected poor visibility at places at first and strong wind at places by afternoon inshore, and expected strong wind and high seas offshore.

Weather forecast for Qatar valid until 6pm Sunday inshore will be misty to foggy at places at first and scattered clouds and weak chance of light rain at places, becoming slight dust to blowing dust at times, offshore it will be slight dust and partly cloudy with chance of light rain.

Wind inshore will be northwesterly to northeasterly 10 to 20 knot, reaching 25 knot at places at times, offshore will be northeasterly to northerly 12 to 22 knot.

Visibility will be 04 to 08/02 kilometer or less at places at times. The sea state inshore will be between one to three or four feet. offshore it will be two to four feet rises to five to seven feet later.

Tide Times and temperatures are as follows: Area High Tide Low Tide Mini – Max —- —————– —————— ——————- Messaid 07:30 – 18:15 15:00 – ***** 22 Wakrah 06:45 – 17:45 14:15 – 23:30 22 Doha 07: 06:15 – 17:30 13:15 – 23:15 24 Al Khor 06:00 – 16:45 13:00 – 22:45 22 Ruwais 06:00 – 18:30 00:00 – 12:45 25 Dukhan 10:45 – 23:30 04:30 – 17:15 23 Sunrise : 06:17 lt Sunset today : 17:16 lt —————————————————

Source: Qatar News Agency

US, Mexican Leaders Agree to Work Out Differences on Wall

Washington, US President Donald Trump and Mexican President Enrique Pena Nieto recognized their differences on Trump’s plan to build a wall on the southern US border but have agreed to “work these differences out”, the White House said.

“With respect to payment for the border wall, both presidents recognize their clear and very public differences of positions on this issue but have agreed to work these differences out as part of a comprehensive discussion on all aspects of the bilateral relationship,” the White House said in a statement.

The two leaders spoke by telephone Friday, a day after tensions between the two leaders flared over construction of a wall on the border between their countries.

Mexico confirmed what it characterized as a “constructive and productive” telephone conversation between the two leaders a day after Pena Nieto scrapped a visit to Washington amid tensions over the wall.

The leaders discussed the US trade deficit with Mexico, the importance of friendship between the two countries and the need to work together to stop cross-border trafficking of drugs and weapons, according to a statement issued by the Mexican government.

Trump did not elaborate on the content of the call, but repeated some of his trademark tough talk on the US-Mexico border and trade relations.

Trump insisted his relationship with Pena Nieto is “very good” and that the two leaders were “going to be working on a fair relationship and a new relationship”.

The long-distance diplomacy came a day after Pena Nieto cancelled a trip to meet Trump in Washington planned for January 31, after Trump announced the imminent start to construction of a wall along the 3,200-kilometer US-Mexico border.

The wall, a cornerstone of Trump’s presidential campaign, is seen by Mexico as an insult to its sovereignty and a bilateral relationship of equals.

The standoff escalated further Thursday when the White House floated a tax on imports to pay for the wall. White House spokesman Sean Spicer later backtracked on the plan, calling it “one idea”.

Source: Qatar News Agency

Canadian PM Welcomes Refugees after Trump’s Ban

Ottawa, Canadian Prime Minister Justin Trudeau has told refugees to come to Canada, after US President Donald Trump suspended his country’s refugee programme for four months.

“To those fleeing persecution, terror and war, Canadians will welcome you, regardless of your faith. Diversity is our strength,” Trudeau tweeted on Saturday.

He also posted a picture of himself welcoming a Syrian girl at Toronto airport in December 2015, the (dpa) reported.

On Friday, Trump signed an executive order imposing what he calls “extreme vetting” on refugees and banning all travellers from six countries ( Iraq, Syria, Sudan, Libya, Yemen and Somalia) for 90 days.

Canada has a history of welcoming refugees and as of January has settled almost 40,000 Syrians fleeing the current conflict.

Source: Qatar News Agency

QLC Government Leaders Program Participants Visit Ministry of Economy and Commerce

Doha, Qatar Leadership Centre’s (QLC) Government Leaders Program participants engaged with senior officials at the Ministry of Economy and Commerce (MEC) on Sunday to gain a deeper understanding of the Ministry’s role in bolstering sustainable economic growth as well as its policies to develop the business and trade sectors.

The high-level visit was a valuable learning opportunity for QLC’s Government Leaders Program participants, a select group of Qataris drawn from the public and semi-public sectors. In particular, the visit gave an in-depth look onto the Ministry’s policymaking, which aims to attract investment, boost trade, and support national development.

Key subjects of the discussions included how the Ministry has streamlined business licensing to create a favorable climate for small and medium-sized enterprises. Participants also surveyed the MEC’s improved suite of e-government services designed to better protect consumers and regulate local markets.

Visits to various institutions and ministries are an integral part of QLC’s curriculum. Government Leaders Program participants reconnoiter many institutions critical to Qatar’s development over the 12-month long program. The diverse cohort of Qataris enhances important skills that allow them to contribute to the country’s National Development plans in innovative ways.

In this context, HE Managing Director and Member of the Board of Directors of QLC Dr Abdulla bin Ali Al-Thani noted: “Facilitating a constructive dialogue between senior policymakers and other decision makers across ministries and public institutions is of utmost importance to Qatar Leadership Centre. Engagement leads to collaboration and drives us closer to achieving our common goals – this is what binds us together as we pursue Qatar National Vision 2030.”

Source: Qatar News Agency

QNB Doubts IMFs’ Projections on 3.4 % Economic Growth

Doha, Qatar National Bank (QNB) Group doubted the International Monetary Fund (IMF) forecasts for global growth in 2017 for reaching 3.4%.

In its weekly commentary QNB expected growth to come in below the IMF’s forecasts, closer to the 3% mark.

The International Monetary Fund (IMF) kept its forecasts for global growth in 2017 unchanged at 3.4% in the latest update of its World Economic Outlook. The overall number masked some tinkering with the composition of global growth since the IMF’s last round of forecasts made in October 2016. The projection for growth in advanced economies (AEs) was revised up by 0.1 percentage points (pps) to 1.9% while growth for emerging markets (EMs) was revised down by 0.1 pps to 4.5%. However, we view the forecasts as over-optimistic and expect them to be revised down in the future, particularly given the IMF’s track record in recent years of consistent downward revisions to global growth projections, QNB said.

The IMF revised up its growth forecasts across most AEs, mainly in response to surprisingly strong recent economic data, but also due to some other factors. In the US, growth picked up to 2.5% in the second half of 2016 compared with 1.4% in the first half. In addition, fiscal stimulus is now expected in the US following the election of President Trump. As a result, the IMF revised up its forecast for US growth in 2017 by 0.1 pps to 2.3%. In Europe, the envisioned fallout from Brexit has not yet fully materialised, with consumption holding up better than expected.

Reflecting these developments, the IMF has revised up its 2017 forecasts for the Euro Area and UK by 0.1 pps and 0.4 pps, respectively.

In EMs, the downward forecast revisions were mainly the result of tighter financial conditions as well as specific factors impacting a number of countries. Starting with tighter financial conditions, US 10-year bond yields rose around one percentage point since the IMF’s last report in October. As a result, capital flows to EMs weakened considerably (see last week’s commentary, Capital flows to EMs improved in 2016, but prospects are subdued) downgrading the outlook for a number of EMs. For example, ASEAN-5 (Indonesia, Malaysia, Philippines, Thailand and Vietnam) growth projections were revised down by 0.2 pps to 4.9%.

Turning to country-specific factors, India’s demonetisation (see our commentary, India’s growth to dip on demonetisation) is expected to have a temporary but sharp impact on economic activity and the IMF has lowered its 2017 forecast by 0.4 pps to 7.2%. Mexico is particularly exposed to the potential protectionism of the Trump administration and its forecasts are down 0.9 pps. Brazil’s recovery has not been as strong as expected and its projections are down 0.3 pps to 0.2%. It is notable that the EM outlook would have been considerably worse had China not bucked the trend. The IMF revised up China’s forecasts by 0.3 pps to 6.5% as policy stimulus has propped growth up more than expected.

The IMF’s 3.4% projection for 2017 would be a considerable acceleration from 3.1% in 2016. The pickup would come from both AEs (1.9% vs 1.6%) and EMs (4.5% vs 4.1%). In our view, this broad-based acceleration in global growth seems a little too optimistic.

In AEs, a number of factors are likely to result in disappointing growth. First, US fiscal stimulus may be harder to enact than previously expected and is likely to be offset by tighter Fed monetary policy. Second, rising commodity prices will likely drag on consumption. Third, so many political risks abound from a hard Brexit to security risks that some negative growth shocks are highly probable. Finally, rising protectionism could offset potential gains from fiscal stimulus in AEs with spillovers to the rest of the world. The recent decision by Trump to pull out of the Trans Pacific Partnership shows that this risk is material.

In EMs, a large acceleration in growth is unlikely given that financial conditions will be considerably tighter in 2017. Easy monetary policy in AEs has supported EM capital flows since the financial crisis, but this is now going into reverse. US yields have risen and monetary easing in other AEs is nearing its limits speculation about ECB tapering has already begun. Policy stimulus in China may not be sustained given high corporate debt and rising risks of disorderly capital flight. A sharper than expected slowdown in China would impact EM growth directly, but also indirectly as many EMs rely heavily on exports to China.

Source: Qatar News Agency