Category: Market

Berlin, HE Chairman of the Qatar Chamber (QC) Sheikh Khalifa bin Jassim Al-Thani has been named First Vice President of the Arab-German Chamber of Commerce and Industry (Ghorfa). This came during a meeting of the General Assembly meeting held in Berlin. The GAM followed a joint meeting of the Executive Office and Board of Directors.

HE Sheikh Khalifa bin Jassim led the Qatar Chamber’s delegation, which included board members Dr. Khaled bin Klefeekh Al Hajri and Mohamed bin Ahmed Al Obaidli, along with Acting General Manager Ali Bu Sherbak Al Mansori.

The delegation also attended the activities of the “27th Arab-German Economic Forum”, which is underway until June 5, with the participation of representatives from the Ministry of Municipality, Qatar Free Zones, and Qatar Tourism.

Under the theme ‘Doing Business with Impact: The Art of Building Lasting Connections’, the forum was organized by the Arab-German Chamber of Commerce and Industry in cooperation with the Federation of Arab Chambers of Commerce and I
ndustry.

In statements, HE Sheikh Khalifa bin Jassim commended the strong commercial relations between Arab countries and Germany, emphasizing the role of the Arab-German Chamber of Commerce and Industry in this regard. He highlighted that the Arab-German trade amounted to 62 billion euros in 2023 compared to 51 billion euros in 2022, registering an increase of 20%.

His Excellency also underscored the close relationship between Qatar and Germany across various sectors, especially in the economic and commercial sectors. He said that the two countries trade exchange reached QR 7.1 billion in 2023, compared to QR 6.8 billion in 2022, underscoring Germanys importance as one of Qatar’s most significant trade partners.

QC Chairman further highlighted the forum’s role in boosting Arab-German trade and investment.

“The forum serves as a key platform for connecting businesses, exploring new opportunities, and forming new partnerships, whether in Germany or in the Arab countries,” he noted.

The forum included a ho
st of panel discussions, and roundtable that delved into numerous topics such as the future of smart cities, visionary logistics and transport projects, evolving AI dynamics, sustainable tourism growth, and resilient supply chains.

Source: Qatar News Agency

Ramallah – Ma’an – The Central Bureau of Statistics said that the index of industrial production quantities recorded a sharp decline of 22.50% during the month of April 2024 compared to the month of April 2023, as the index of industrial production quantities decreased to 75.07 during the month of April 2024 compared to 96.86 during the month of April. 2023 (base year 2019 = 100).

Compared to the previous month, the index of industrial production quantities recorded a decrease of 6.30% during the month of April 2024 compared to the month of March 2024, as the index of industrial production quantities decreased to 75.07 during the month of April 2024 compared to 80.12 during the month of March 2024 (base year 2019 = 100 ).

Water supply, sanitation, waste management and treatment activities recorded a decrease of 17.41%, whose relative importance constitutes 1.84% of the total industry activities.

Electricity, gas, steam, and air conditioning supply activities also recorded a decrease of 7.55%, whose relativ
e importance constitutes 7.38% of the total industry activities.

Manufacturing industries activities recorded a decrease of 5.91% during the month of April 2024 compared to the previous month, whose relative importance constitutes 87.89% of the total industry activities.

As for the sub-activities that have a large relative impact on the overall index, some manufacturing activities recorded a decline during the month of April 2024 compared to the previous month, the most important of which are; Manufacture of formed metal products other than machinery and equipment, manufacture of other non-metallic metal products, manufacture of food products, manufacture of clothing, manufacture of paper and paper products, manufacture of wood and wood products, manufacture of leather and related products, and manufacture of rubber and plastics products.

On the other hand, the index recorded an increase in some activities, the most important of which are: Tobacco products industry, textile industry, chemicals and chemical
products industry, printing and reproduction of recorded media activity, and furniture industry.

Mining and quarrying activities recorded an increase of 0.97%, whose relative importance constitutes 2.89% of the total industry activities.

It is noteworthy that due to the Israeli aggression on the Gaza Strip on October 7, 2023, for the seventh month in a row, all facilities operating in industrial production in the Gaza Strip have stopped working until April 2024.

Source: Maan News Agency

Doha: The Qatar Stock Exchange (QSE) general index closed at 9,463.93 points on Tuesday, 55.41 points (0.59 percent) up from its previous closing.

A trading volume of 156,497,954 shares was registered in 18,338 transactions in all sectors, with a total trading value of QR 488,970,711.999.

The prices of 34 companies rose and those of 13 declined, while four companies maintained their previous closing price.

The market capitalization closed at QR 548,603,944,063.340 compared to QR 546,222,849,735.730 in the previous session.

Source: Qatar News Agency

Faster growth of output and new orders was reflected in another increase in employment. Hiring activity was linked to company development goals, including efforts to speed up the delivery of high-quality services and to gain staff experienced in new technologies.

Demand for inputs rose in May, as purchasing activity increased at the second-fastest rate in ten months. Lead times continued to improve, however, as firms reported building supplier relationships. Input stocks fell for the fifth time in six months as output growth accelerated.

Cost pressures were broadly stable as average purchase prices declined, offsetting higher wages. Prices charged for goods and services increased for the second time in the past seven months, but at a slower rate than the previous hike in March.

Qatari financial services companies recorded much faster growth in volumes of total business activity and new contracts in May. The seasonally adjusted Financial Services Business Activity and New Business Indexes rose to 12- and ei
ght-month highs of 60.9 and 59.1, respectively, well above the equivalent indices for the non-energy private sector as a whole.

Companies were also increasingly optimistic regarding the 12-month outlook, with confidence the highest since last July 2023. Meanwhile, employment growth was maintained for the fourteenth successive month.

In terms of prices, average charges set by financial services companies were broadly unchanged since April, following a four-month sequence of discounting. Meanwhile, average input prices rose slightly and for the first time in three months.

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority, said, “The May results clearly indicate that the non-energy private sector has moved up a gear as we approach the halfway point of 2024. Growth rates for output and new orders accelerated notably, and companies became more optimistic regarding the next 12 months.

“Both the wholesale and retail and the services sectors continued to drive expansion in May, and financial service
s remained a bright spot.

“Although there was a rise in output prices in May, inflationary pressures broadly remained in check and suppliers delivery times continued to improve.”

Source: Qatar News Agency

Doha: Nakilat announced today that it intends to increase its stake at Qatar Shipyard Technology Solutions by 20 percent.

In a statement released on Qatar Stock Exchange’s website today, the company said that its Joint Venture partner KSI Investments Limited has expressed its interest to exit the Joint Venture Qatar Shipyard Technology Solutions. Nakilat, which currently owns the majority of the voting rights 79 percent in the Joint Venture, has agreed in principle its intention to purchase KSI Investments Limiteds minority stake, representing 20 percent in the Joint Venture.

Source: Qatar News Agency

Riyadh, The Saudi Stock Exchange main index ended trading lower today, losing 196.22 points to close at 11612.03 points.

The total value of trading reported was SAR7 billion.

The Saudi Parallel Market Index (NOMU) ended the day by losing 530.84 points to close at 26033.02, with a valuation of SAR63 million.

Source: Saudi Press Agency

Doha: The total number of inbound visitors reached about 382 thousand in April 2024, recording an annual increase of 17.9% (compared to April 2023), and a monthly increase of 16.3% (compared to March 2024).

The highest number of visitors was from the Gulf Cooperation Council (GCC) at 42%. As for visitors by type of port, the visitors via Air make up the highest percentage with 55% of the total number of visitors, according to the new issue of “Qatar; Monthly Statistics” bulletin released by the National Planning Council.

The bulletin shows a decrease in the total number and values of properties sold at a monthly rate of 25.0% and 15.9%, respectively (compared to March 2024). The total number of buildings permits reached 466 permits during April 2024, recording a monthly decrease of 37.6% and an annual increase of 21.7%.

The total number of registered new vehicles during April 2024 has reached 7011 new vehicles. The figure showed a monthly decrease of 10.5% and it showed an annual increase of 2.9%.

With re
gard to traffic accidents cases without counting the accidents without injuries, a total of 762 traffic cases were recorded during April 2024, showing a monthly decrease of 5.2% and an annual decrease by 2.2%. Light injuries are accounted for most traffic accidents cases during the same month, with 93%, followed by severe injuries by 6%. However, 10 deaths were recorded, equivalent to only 1% of total traffic accidents cases.

As for vital statistics, 2496 live births have been registered during April 2024. Also, an increase in the total Qatari live births by 17.7% comparing to last month. On the other hand, 221 deaths were recorded during the same period, a decrease of 3.1% compared to March 2024.

April 2024 witnessed a monthly increase of 1.9% of total marriage contracts and 13.7% monthly decrease of total divorce certificates. The total number of marriage contracts reached 328 marriage contracts, while the total number of divorce certificates reached 120 cases.

The bulletin shows a monthly decrease in to
tal net tonnage of vessels by 29.9% in April 2024 compared to previous month.

The Social Security statements reached QR 78 million in April 2024, for 14407 beneficiaries, recording a monthly increase of 0.6% for the value of social security, and a monthly increase of 0.2% for the number of beneficiaries of Social Security.

As for the Banking Sector; Total Broad Money Supply (M2) recorded about QR 736 billion during April 2024, an annual increase of 5.7% compared with April 2023. On the other hand, cash equivalents; including Commercial Bank Deposits, attained for QR 1025 billion during April 2024. The figure has recorded an annual increase of 6.3% compared to April 2023, when deposits recorded approximately QR 964 billion.

Source: Qatar News Agency

Riyadh: The Saudi Standards, Metrology and Quality Organization (SASO) signed a memorandum of understanding with the Project Management Institute (PMI) — Saudi Arabia Chapter that aims at aims to strengthen cooperation between the two agencies to achieve a fruitful strategic partnership

The memorandum was signed on the sidelines of the Global Project Management Forum by SASO Deputy Governor for Business Support Eng. Fahd Alkuaik and Kingdom of Saudi Arabia Chapter PMI President Badr Burshaid.

The MoU aims to raise the efficiency and qualification of workers in the project management and to transfer knowledge in the field through mutual visits among project managers in the Kingdom.

Source: Saudi Press Agency

Jeddah: Jeddah Chamber board of directors’ chairman Mohammed Yousef Naghi met today with Turkish Industry and Business Association (TUSIAD) board of directors’ chairman Orhan Turan and his accompanying delegation. The purpose of the meeting was to discuss potential opportunities in support of the business sector.

The TUSIAD’s delegation held meetings and discussions to explore trade and industrial opportunities between the two countries. They focused on the fields of computer systems and programs, technology, digital printing, as well as investment in food, dairy, meat, construction, building materials, furniture, logistics, urban development, and inter-tourism.

Source: Saudi Press Agency

Riyadh: The Saudi Ports Authority “Mawani” announced in a press release that it has signed a memorandum of understanding (MoU) with the Port of “Marseille Fos” with the aim of enhancing cooperation in various areas, including digital transformation towards smart ports. This initiative is expected to contribute to enhancing international trade, supporting the marine environment, and promoting Green Port Initiatives.

This collaboration was announced in conjunction with the Vision Golfe 2024 event, organized by Business France, the national agency supporting the international development of the French economy. The event took place from June 4-5, 2024, in Paris, under the patronage of President Emmanuel Macron.

According to the press release, the MoU was signed by the President of the Saudi Ports Authority “Mawani,” Omar Hariri, and the CEO of the Port of Marseille Fos, Hervé Martel. The signing ceremony was attended by the Saudi Ambassador to France, Fahad Alruwaili, the CEO of Business France, Laurent Saint-M
artin, and several other officials.

The memorandum aims to enhance Mawani’s efforts in adding economic value to both countries, fostering innovation, exchanging expertise, and developing leading capabilities in the Kingdom’s ports. This aligns with the objectives of the National Transport and Logistics Strategy (NTLS) to strengthen the Kingdom’s position as a global logistics hub connecting three continents.

During the forum, a panel discussion titled “The Future of Infrastructure” took place. The Vice President of Commercial Business, Abdullah AlMunif, highlighted Mawani’s initiatives in developing port infrastructure, along with ongoing major projects and promising investment opportunities within the ports.

The Vision Golfe 2024 event serves as a significant annual economic and commercial gathering aimed at boosting trade cooperation between France and the Gulf Cooperation Council (GCC) countries. The forum brings together key decision-makers from the public and private sectors in the GCC countries, as w
ell as various international leaders. The Port of Marseille Fos, one of the largest ports in France, plays a crucial role in facilitating international trade.

Source: Saudi Press Agency