Category: Market

Doha: The Qatar Stock Exchange (QSE) general index closed at 9,408.52 points on Monday, 23.07 points (0.25 percent) up from its previous closing.

A trading volume of 136,363,009 shares was registered in 15,394 transactions in all sectors, with a total trading value of QR 429,283,435.976.

The prices of 17 companies rose and those of 31 declined, while three company maintained its previous closing price.

The market capitalization closed at QR 546,222,849,735.730 compared to QR 545,334,179,155 in the previous session.

Source: Qatar News Agency

Jordan’s unemployment rate decreased by 0.5 percent in the first quarter of 2024 compared to the same period in 2023, settling at 21.4 percent.

The Jordanian Department of Statistics reported by Jordan News Agency (Petra) on Sunday as saying that male unemployment fell to 17.4 percent, a decrease of 2.2 percentage points. Conversely, female unemployment rose to 34.7 percent, an increase of 4 percentage points.

Comparing the first quarter of 2024 to the fourth quarter of 2023, male unemployment dropped by 1.5 percentage points, while female unemployment increased by 4.9 percentage points.

The report also noted that 26.8 percent of those aged 15 and over were employed, with the figure rising to 34.2 percent for those aged 23 and over.

Source: Qatar News Agency

Doha: Qatar Finance and Business Academy (QFBA) celebrated the graduation of the ninth cohort of the National Program “Kawader Malia,” in the presence of HE Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani along with several officials and CEOs of various banks and financial institutions operating in Qatar.

This year, 75 students graduated from the program, raising the total number of participants since its inception in 2013 to 324.

In his speech, Chairman of the Board of Directors of QFBA, Abdulaziz bin Nasser Al Khalifa, highlighted that the National Program “Kawader Malia” is one of the academys pioneering initiatives, aligning with the Third National Development Strategy and the Third Financial Sector Strategy.

He stated that the graduates have successfully completed all the program requirements, making them qualified and ready to continue their successful career paths.

Al Khalifa said that after nine years of the program’s launch, QFBA has provided unique educational opport
unities to the national cadres, significantly enhancing their knowledge, capabilities, and skills, enabling them to compete in the labor market and assume prestigious positions in the financial and economic sectors of the country, and they contribute to the development process in line with Qatar National Vision 2030.

He noted that celebrating the ninth cohort of “Kawader Malia” coincides with the 15th anniversary of the academy’s founding, pointing out that the achievements of QFBA since its establishment translate its mission to elevate the financial and banking services sector in Qatar and develop the skills and abilities of its workforce by equipping them with supportive knowledge and skills for their careers.

CEO of QFBA, Khalifa Al Yafei, stated that for the first time since the program’s inception, the ninth edition expanded the scope of educational units to include six units: Introduction to Financial Services and FinTech, Personal Skills and Professional Readiness, ILM Leadership and Management Unit
in two parts, Specialization Tracks, and Practical Training lasting six weeks.

Al Yafei added that the program included four certification tracks: three tracks for employed participants, including the Chartered Financial Analyst (CFA) Level 1 from the CFA Institute, Certified Internal Auditor from the Institute of Internal Auditors, and Risk in Financial Services from the Chartered Institute for Securities and Investment (CISI). One track was for unemployed participants, the Foundation Program in Financial Services, designed to help job market entrants gain a broader and deeper understanding of all financial services and related topics.

The practical training institutions collaborating during the program included six prestigious local and international institutions providing training services to enrolled students. Throughout the program, 43 workshops and lectures were organized, and eight senior officials from banking, insurance, and investment sectors were hosted to share their knowledge, expertise, and b
est practices with the students.

“Kawader Malia” is a national program targeting Qataris and children of Qatari women, whether recent university graduates or newly employed. It aims to provide participants with opportunities to enhance their knowledge related to the financial services sector and develop their leadership and managerial skills.

Source: Qatar News Agency

Riyadh: The Government Expenditure and Projects Efficiency Authority (EXPRO) has launched the third edition of its awareness campaign “Evolution of Tradition” to raise awareness about the importance of the National Manual for Assets and Facilities Management, which has become a unified reference for government entities to manage public assets and facilities with quality and efficiently, to preserve resources and support sustainability.

The manual, prepared by EXPRO in partnership with experienced national cadres from several government entities, informs about the best local and international practices. Its goal is to unify the procedures for managing public assets and facilities, ensure compliance with local legislation, and build asset management systems by registering and evaluating them to support optimal decision making. It also is to extend the life cycle of assets, manage public facilities efficiently, taking into consideration cost and quality, and relying on continuous improvement, and preserve resou
rces through financial planning of asset and facility management, and effective management of supply chains and contracts, and thus contribute to achieving government excellence and enhancing financial sustainability, in line with Vision 2030.

EXPRO teams at government entities also organize activities to raise awareness about the manual, which targets several government sectors, including education and health, buildings and infrastructure, and security and military. It covers several specializations, including emergency management, energy and sustainability management, maintenance management, environmental health and safety, risk management, as well as contract and financial planning management, quality, and asset management and condition assessment.

The campaign showcases success stories of government entities that used the National Manual for Assets and Facilities Management.

EXPRO has made the manual available on its website, organized and classified according to the needs of different entities. Govern
ment entities’ partners and interested specialists, including consulting offices and contractors, can view the contents of the manual through the following link https://knowledge.expro.gov.sa/book-detail/173.

The awareness campaign includes a series of visual materials that explain the importance of following the manual’s guidelines to organize and facilitate the work of government entities, and achieve significant benefits at national level, in terms of efficiency and quality, which directly impacts the performance of these entities and of citizens.

EXPRO endeavors to contribute to government entities spending efficiently, enhancing the efficiency of government procurement operations, as well as raising the quality of projects, assets, and facilities, planning infrastructure, programs, initiatives and operational processes. It also endeavors to develop policies, systems, and methodologies, and create and qualify national cadres.

Source: Saudi Press Agency

Doha: The Ministry of Commerce and Industry, in collaboration with the Qatar International Court and Dispute Resolution Centre (QICDRC) and the World Intellectual Property Organization (WIPO), organized the International Mediation and Arbitration Conference under the theme “Examining the correlation between strong Intellectual Property rights protection and increased FDI inflows.” In his speech at the opening session of the conference, HE Undersecretary of the Ministry of Commerce and Industry, Mohammed bin Hassan Al Malki, highlighted the significance of the conference as it is being held for the first time in the region, reflecting the success of the cooperative efforts between Qatar and WIPO.

He emphasized that the conference represents a strategic step in Qatar’s efforts to embed the culture, awareness, and system of intellectual property rights protection, which is a cornerstone of economic activity and one of the most important intangible assets for national and foreign companies and business projects
in the state. Furthermore, the conference marks an important step in enhancing cooperation with international economic organizations, particularly WIPO, which is actively participating in the conference to achieve shared goals.

Al Malki explained that due to the importance of protecting intellectual property rights for economic initiatives and the necessity of fostering an environment that supports foreign investment through the development of capable enforcement personnel, Qatar has established regulations related to the use of alternative dispute resolution mechanisms, including the arbitration system under Law No. 2 of 2017, which aims to provide a secure environment for resolving commercial disputes, especially for foreign investors.

He pointed out that with the growing interest in intellectual property rights, Qatar has intensified its efforts to provide effective alternative dispute resolution mechanisms specifically for intellectual property rights. This led the Ministry of Commerce and Industry to c
ollaborate with WIPO and sign a Memorandum of Understanding (MoU) in 2022 regarding the settlement of intellectual property disputes through alternative dispute resolution methods. He pointed out that the MoU encompasses arrangements for training arbitrators and mediators within Qatar, hoping to expand this partnership with WIPO and explore additional avenues for cooperation.

The conference attracts participants, including a select group of experts and specialists in intellectual property rights, arbitration, and mediation, alongside government officials from the Middle East, policymakers, legal experts, academics, industry leaders, and representatives from international organizations and investor communities.

On the sidelines of the conference, HE Undersecretary of the Ministry of Commerce and Industry met with Assistant Director-General of WIPO Marco Aleman. The meeting reviewed the aspects of cooperation between Qatar and WIPO and discuss strengthening their partnership.

HE Undersecretary of the Ministr
y of Commerce and Industry expressed Qatar’s appreciation for the support provided by WIPO in helping develop Qatar’s intellectual property policies and systems, particularly in the ongoing development of the national intellectual property strategy and the implementation of the signed MoUs between the two sides. He reiterated Qatar’s continuous commitment and support to WIPO in developing a balanced and effective international intellectual property system that encourages innovation and creativity for the benefit of all.

The International Mediation and Arbitration Conference aims to provide a platform for exchanging expertise, knowledge, and cooperation among specialists in intellectual property rights, mediation, arbitration, and foreign direct investment in the Middle East. The conference seeks to enhance participants’ understanding of how to strengthen their intellectual property frameworks and attract foreign direct investment through sharing experiences and showcasing best practices and international sta
ndards.

Conference sessions will discuss the available means for governments to enhance investment attractiveness, stimulate growth, and foster technology transfer through a robust intellectual property framework and effective dispute resolution mechanisms, with a focus on the Middle East.

Source: Qatar News Agency

Riyadh: King Abdul Aziz Port in Dammam achieved a new milestone by handling 292,612 TEUs in May 2024, demonstrating its operational excellence, according to a press release from the Saudi Ports Authority (Mawani).

This achievement highlights Mawani’s commitment to improving its infrastructure, in line with the objectives of the National Transport and Logistics Strategy, to solidify the Kingdom’s standing as a global logistics hub that bridges three continents.

According to the release, the port’s performance is testimony to its exceptional operational and logistical capabilities. With 43 fully serviced and equipped berths and a capacity to handle up to 105 million tons of cargo and containers, with its specialized terminals, advanced facilities, and modern equipment, King Abdul Aziz Port in Dammam is well equipped to efficiently handle various types of cargo.

This latest achievement is the result Mawani’s endeavor to transform King Abdul Aziz Port in Dammam into a smart port operating with 5G technology, a
s part of the Smart Ports Initiative, which aims to automate port operations to enhance efficiency and increase container-handling capacity.

“King Abdul Aziz Port in Dammam broke the record it set in March 2024 by handling 289,787 TEUs, highlighting its pivotal role in supporting commercial movement and contributing to the supply chains for imports and exports to and from the Kingdom,” the release read.

Source: Saudi Press Agency

Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, discussed with Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, and Minister of Economy and Finance, Nadia Fattah Al Alawi, means to enhance areas of cooperation between the two countries in the mining sector, develop areas of economic cooperation, and empower financial institutions.

During the meeting, opportunities for cooperation and partnership in the mining sector were also discussed, including developing the phosphate industry, benefiting from the accumulated experiences of the two countries to enhance the competitive advantage of phosphate fertilizers, and accessing new markets.

Discussions also dealt with developing cooperation in regional trade, including overcoming obstacles to importing and exporting vital minerals in the region, in addition to cooperation in export development and promoting Saudi exports to Morocco.

Source: Qatar News Agency

Riyadh: June 03, 2024 — The third annual Global Project Management Forum (GPMF), held under the theme “Achieving the Dream: Leadership, Empowerment, Sustainability,” concluded in Riyadh.

The event, held under the auspices of Minister of Transport and Logistic Services Eng. Saleh bin Nasser Al-Jasser, witnessed the participation of distinguished speakers, experts, and specialists from countries around the world.

Spanning two days, the forum featured numerous dialogue sessions and workshops that showcased prominent ideas and insights on project management and operation in accordance with the best international practices and standards.

Furthermore, several agreements and memoranda were signed between participating entities.

This year’s forum focused on ten main topics, namely emotional intelligence, collaboration in multi-generational and multicultural teams, resource and competency management, artificial intelligence (AI) in project management, data-driven decision-making, strategies and project management
, economic initiatives and entrepreneurship, mega-project management, sustainability and green project management, and value and impact achievement.

The dialogue sessions held on the sidelines of the forum addressed topics including notable experiences, practices, and updates in project management across different sectors.

The forum served as a platform for exchanging opinions, perspectives, and creative ideas regarding the successful implementation of mega projects.

During the forum, Eng. Badr Al-Dulami, the vice minister of transport for road affairs and the acting CEO of the Roads General Authority, launched the fourth annual global project management excellence awards.

The awards represent a leading initiative aimed at honoring pioneers and innovators in the field of project management at the global level.

Source: Saudi Press Agency

China’s benchmark prices for spot interbank gold transactions were higher Monday, according to the China Foreign Exchange Trade System.

The benchmark price for gold that is 99.95% pure or above stood at 550.9 yuan (about $77.5) per gram, 2.08 yuan higher than the previous trading day, while the price for gold that is 99.99% pure or above went up 1.88 yuan from the previous trading day to 553.6 yuan.

Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15% from the benchmark prices each trading day, according to China’s News Agency (Xinhua).

The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.

Source: Qatar News Agency

Rabat, The Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, held discussions with the Moroccan ministers of energy and finance to explore avenues for enhancing economic cooperation between Saudi Arabia and Morocco.

Al-Khorayef met with the Minister of Energy Transition and Sustainable Development, Leila Benali, and the Minister of Economy and Finance, Nadia Fettah Alaoui, during his visit to Morocco. The meeting focused on strengthening Saudi-Moroccan cooperation in the mining sector, developing economic collaboration fields, and empowering financial institutions.

Vice Minister for Mining Affairs at the Ministry of Industry and Mineral Resources Eng. Khalid bin Saleh Al-Mudaifer and Saudi Arabia’s Ambassador to Morocco Sami Al-Saleh attended the meeting.

In discussions regarding mining cooperation and partnership opportunities, the two sides explored the development of the phosphate industry and the utilization of the extensive experience of both countries to enhance the competit
ive advantage of phosphate fertilizers and access new markets. They also addressed cooperation in regional trade, including the removal of obstacles to the import and export of vital minerals in the region. Additionally, they discussed collaborative efforts in export development and support for promoting Saudi exports in Morocco.

Al-Khorayef’s visit to Morocco is aimed at leading the Kingdom’s delegation to the 28th General Assembly of the Arab Industrial Development, Standardization, and Mining Organization (AIDSMO) in Rabat, as well as discussing partnerships with Morocco in the industry and mining sectors.

Source: Saudi Press Agency