Category: Market

Doha: Qatar Free Zones Authority (QFZ) announced the opening of the newest outlet of Qatar Postal Services Company (Qatar Post) at the Investor Relations Center in the Business Innovation Park at Ras Bufontas Free Zone, in a move to enhance the services provided to investors and support the growth of their businesses.

The opening of this postal outlet follows the recently signed Memorandum of Understanding (MoU) between QFZ and Qatar Post, emphasizing the importance of establishing strategic partnerships between QFZ and leading national organizations such as Qatar Post, to contribute together to attracting more foreign direct investments. The outlet aims to provide a range of services to companies operating in the free zones and give them easy access to a wide variety of comprehensive postal solutions tailored to meet their needs and thus support operational efficiency and growth of these businesses.

On the occasion, Director of Investor Relations and Technical Support at QFZ Abdulla Hamad Al Binali said:
“The opening of the Qatar Post outlet at the Investor Relations Center in the Business Innovation Park at Ras Bufontas Free Zone is in line with our strategic objective of creating an attractive and motivating environment for investors and companies to seamlessly meet all their operational needs. It will also significantly enhance our ability to provide postal services of the highest international standards, which are essential to the day-to-day operations of companies operating in the free zones and demonstrates our commitment to providing everything that will facilitate business, open up better prospects for growth and expansion, and contribute to the overall economic development of Qatar as a unique investment destination in the region and the world.” Acting Director General of Qatar Post Abdullah Shlash AlHajri said: “We are very pleased to open our new outlet in the Business Innovation Park in Ras Bufontas Free Zone as part of our ongoing efforts to support the business ecosystem in Qatar by providing po
stal services that meet their specific needs and are highly reliable. Our presence in the free zones will allow us to provide efficient and high-quality postal solutions that facilitate operations and business growth. We look forward to consolidating our partnership with QFZ and unifying our efforts to enhance economic development in line with the third national development strategy 2024-2030, and towards achieving the Qatar National Vision 2030.” The new Qatar Post outlet will provide many postal services to companies operating in the free zones, including postal correspondence collection, mailbox services, international shipping, Connected (shop and ship services) and other unique postal services and solutions that contribute to increasing the operational efficiency of companies and their connection to the world.

It is worth mentioning that this joint cooperation between QFZ and Qatar Post is part of the continuous efforts made by the free zones in Qatar to provide an advanced business environment for its
investors supported by the latest services, as it provides an integrated platform for companies to facilitate obtaining the necessary permits and certificates to conduct business.

Source: Qatar News Agency

Brussels: European stocks opened lower for the third consecutive session on Wednesday, driven by a decline in the technology sector.

The Stoxx 600 index dropped 0.3 percent, with the tech sub-index falling 1.9 percent.

Dutch semiconductor company ASML saw a significant decrease, with shares falling 5.3 percent after its supply of chip-making equipment missed third-quarter sales forecasts. Additionally, investors are weighing the potential impact of stricter US trade regulations.

Other semiconductor stocks also experienced losses, including ASM International and BE Semiconductor, both of which saw their shares decline by more than 2 percent.

Conversely, Adidas shares jumped 4.5 percent after the German sportswear manufacturer raised its full-year profit forecast following better-than-expected second-quarter results. Similarly, Puma, a competitor of Adidas, saw its shares rise by 2.5 percent.

Source: Qatar News Agency

Doha: Masraf Al Rayan (a Qatari public shareholding company) net profits increased by 3.2 percent in the first half of 2024 to reach QR 789.058 million , compared to QR 764.641 million in the same period last year.

Data issued by the bank and posted on the Qatar Stock Exchange website on Wednsday showed an increase in earnings per share to reach QR 0.085 Qatari in the period ending on June 30, 2024, compared to earnings per share of QR 0.082 Qatari r for the same period of the previous year.

Meanwhile, the Board of Directors of Masraf Al Rayan announced the latters intention to distribute interim dividends, recommending to the General Assembly of shareholders to approve amending the banks bylaws to authorize the Board of Directors to do so, taking into account obtaining the necessary regulatory approvals.

In this context, HE Chairman of the Board of Directors of Masraf Al Rayan Sheikh Mohammed bin Hamad bin Qassim Al-Thani, said that the announcement of the implementation of the principle of distributing i
nterim dividends comes in accordance with the controls and conditions stipulated in the applicable laws and regulations and taking into account the approval of shareholders and the relevant regulatory authorities. He added that “this step comes to support the national economy in accordance with the principles of Qatar Vision 2030.” For his part, Fahd bin Abdullah Al Khalifa, Group CEO, said that applying the principle of interim profits will begin after completing the amendment to the banks bylaws and obtaining the necessary regulatory approvals, noting that this step would enhance investor confidence in the market and in the banks financial performance and its ability to generate attractive revenues for investors.

Source: Qatar News Agency

Doha: The Qatar Stock Exchange (QSE) closed Wednesday’s session with a decline of 42.17 points, or 0.41 percent, settling at 10,151.72 points.

During the session, 186,321,557 shares were traded, with a total value of QR 478,482,200.554, executed through 17,279 transactions across all sectors.

Out of the companies traded, shares of nine companies increased, while 41 companies saw a decrease in their share prices. Two companies maintained their previous closing prices.

The market capitalization at the end of the trading session stood at QR 588,396,474,471.550, down from QR 590,073,965,963.290 in the previous session.

Source: Qatar News Agency

New York: Oil prices rose at settlement at the end of Wednsdays trading, after three consecutive days of losses.

Brent crude futures contracts recorded an increase of $1.35, or 1.61 percent, to reach $85.08 per barrel upon settlement.

US West Texas Intermediate crude futures rose by $2.09, or 2.59 percent, to reach $82.85 per barrel upon settlement.

Crude oil prices fell last week after four weeks of gains, as hopes for a recovery in summer demand in the United States were met with other concerns about demand in China, and Chinese economic data reinforced those concerns.

Source: Qatar News Agency

Nablus – Ma’an – An-Najah University announced accepting applications for admission to the PhD program in Nursing, which is a unique and distinguished program that provides the opportunity to assume senior positions as nursing and health managers in health care institutions and ensure the provision of superior care to patients.

The program seeks to employ advanced technology in nursing education, research and clinical practice.

For more: https://l.najah.edu/VvxZuv

Source: Maan News Agency

Doha: Ahli Bank (a Qatari public shareholding company) net profits increased by 6.47 percent in the first half of 2024 to reach QR 383.009 million , compared to QR 359.738 million in the same period of the previous year.

A statement issued by the bank, posted on the Qatar Stock Exchange website on Wednesday, showed an increase in earnings per share to reach QR 0.142 in the period ending on Jun. 30, 2024, compared to earnings per share of QR 0.132 for the same period of the previous year.

Ahli Bank was established in 1983, and its capital amounts to QR 2.551 billion.

Source: Qatar News Agency

Doha: HE Governor of the Qatar Central Bank (QCB) Sheikh Bandar bin Mohammed bin Saud Al-Thani met today with HE UK Ambassador to Qatar Neerav Patel.

The meeting dealt with discussing bilateral cooperation between the two countries and the ways to enhance them in the financial and banking fields.

Source: Qatar News Agency

Doha: Qatar Airways has unveiled that it will participate in the Farnborough International Air show 2024 (FIA) from Jul.22-26 2024.

The Qsuite Next Gen will form the centerpiece of the airlines presence at the prestigious international air show, which gathers aviation leaders from across the globe to showcase innovations and foster industry collaboration.

At Chalet C114-115 pavilion, Qatar Airways highlighted that it would showcase a new upgraded version of the award-winning Qsuite promises luxury redefined and brings a wealth of innovative features, offering the visitors the opportunity to experience the future of travel aboard the world’s best airline and in the best business class seats.

Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al Meer said that Qatar Airways highly anticipates this years Farnborough International Airshow as the best Airline in the World, adding that Qatar Airways is confident that the reveal of its latest business class offering will be a huge draw for the globa
l aviation community. It also looks forward to welcoming visitors to its installations and onboard its aircraft which will be on display, to experience what Qatar Airways offers.

Visitors are also welcome to rendezvous with the airlines Boeing 787-9 Dreamliner and discover Qatar Airways world-class product and service, as well as experience ultimate luxury and aircraft performance with Qatar Executives Gulfstream G700, of which Qatar Executive is the first commercial carrier in the world to operate this aircraft.

A multiple award-winning airline, Qatar Airways won the Worlds Best Airline for the unprecedented eighth time at the 2024 World Airline Awards, managed by the international air transport rating organization, Skytrax. Qatar Airways has been the Worlds Best Airline in 2011, 2012, 2015, 2017, 2019, 2021, 2022, and 2024. The airline continues to be synonymous with excellence, also taking home, World’s Best Business Class, World’s Best Business Class Airline Lounge, and Best Airline in the Middle East.
As leaders in industry innovation and digital adoption, Qatar Airways was also recently voted the ‘Worlds Best Airline Website’ by World Travel Tech Awards.

Qatar Airways was the first Airline in the Middle East to be certified to the highest level of IATAs Environmental Assessment (IEnvA) programme, based on recognized environmental management system principles (such as ISO 14001). As an inaugural signatory to the Buckingham Palace Declaration in March 2016, Qatar Airways became the first airline globally to be certified to the industry standard for the prevention of illegal wildlife trafficking in aviation.

Qatar Airways currently flies to over 170 destinations worldwide, connecting through its Doha hub, Hamad International Airport, the Worlds Best Airport, as voted by Skytrax in 2021, 2022, and 2024. In 2024, Hamad International Airport also received the Best Airport in the Middle East accolade for 10 consecutive years, as well as Worlds Best Airport Shopping for the second year in a row.

Source: Qatar
News Agency

Singapore: Gold prices rose to an all-time peak on Wednesday, driven by mounting hopes of a US interest rate cut in September after recent comments from US Federal Reserve officials.

Spot gold was steady at $2,468.55 per ounce, after hitting a record peak of $2,482.29. US gold futures gained 0.3% to $2,474.50.

Markets are expecting a rate cut of at least 25 basis points by the Fed at its September meeting.

Among other precious metals, Spot silver fell 1.1% to $31.04 per ounce, platinum was flat at $999.91 and palladium added 0.8% to $967.06.

Source: Qatar News Agency