6
BUSINESS Tuesday 18 December 2018 PAGE | 02 PAGE | 03 QC holds discussions with Syrian trade delegation Commercial Bank celebrates Qatar National Day QFIN goes public Qatar major contributor to tackling climate change MOHAMMAD SHOEB THE PENINSULA H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, President & CEO of Qatar Petroleum (QP) said that Qatar’s contributions to mitigating climate change and other envi- ronmental issues should be seen more broadly, given the fact the country alone meets nearly one- third of the world’s clean energy demand, rather than seeing things only in domestic and per capita perspective. Speaking in a plenary session at the Doha Forum, which con- cluded on Sunday, Al Kaabi stressed that Qatar is supplying clean energy to a large number of countries where more than half of the humanity live. These countries are replacing coal and other heavier fuels with natural gas to curb carbon emissions. So these factors should also be taken into account while debating Qatar’s CO2 emissions. He noted that Qatar, as part of efforts in combating environ- mental challenges, is taking a lot of initiatives at domestic level which include building a big solar power plant in Qatar, which is one of the largest in the region; replacing all the diesel buses by introducing a new fleet run on CNG; and developing facilities and latest technologies to capture carbon and improve efficiency. “One of our strategies is to achieve energy efficiency as part of our commitment in mitigating environmental challenges. We are also taking a lot of other initiatives to ensure that we have less carbon particles in the air and investing heavily and deploying the best available technology,” Minister said in response to a question related to Qatar’s carbon footprint. Al Kaabi added: “In addition, we are also working to address the issue of methane emissions in our industry. We have signed up with large industry partners to look at this critically, measure the methane emissions and study how we can do away with it as much as possible.” With regard to the North Field LNG expansion project, which will boost Qatar’s LNG production capacity from the current 77 million tonnes per annum (mtpa) to 110mtpa by 2024, he added that the project is being implemented in a very responsible way taking into con- siderations all the possible impact to the environment and marine life. “We are responsible people with families and kids who want to live in a good environment. That’s why when we are exe- cuting a project we make sure that we use the cutting-edge technology, which is proven and that money can buy to ensure the least possible impact to the environment.” The Minister also noted that articles in the media that high- light Qatar’s per capita CO2 emissions are “unfair” given the fact the country’s population is very small and any number divided by that gives unrealistic picture. And Qatar’s contribution as the largest supplier of LNG should be taken into consider- ation while debating on Qatar’s per capita carbon emissions. “Qatar supplies natural gas, the cleanest forms of fossil fuel known to the mankind so far, to a large number of countries across the world, including Japan, China, India, Pakistan, Taiwan, South Korea, Thailand, Kuwait, Dubai (UAE), Jordan, Egypt, Turkey, Italy, Spain, France, Poland, Belgium, the UK, Germany, Holland and many others. Their respective con- sumption of Qatari gas ranges between 5 and 30 percent of the total. They burn clean gas to replace coal, biomass and other heavier fuels, aiming to reduce carbon emissions,” said Al Kaabi. H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum. One of our strategies is to achieve energy efficiency as part of our commitment in mitigating environmental challenges. Mena sees rise in Chinese contracts in oil & gas SATISH KANADY THE PENINSULA The Mena region saw an esti- mated $287bn-worth of major contract awards in the oil, gas and petrochemicals sectors from January 2012 to September 2017, according to MEED Projects. In 2016, project activity in the Mena region witnessed the lowest spending since 2008, with the value of contract awards declining to $36.2bn from $59.9bn in 2015. Project awards significantly fared better in 2017, region’s leading market intelligence platform noted yesterday. According MEED, the ranking of top contractors has changed considerably over the past decade. Previous top firms such as France’s Technip, Japan’s Chiyoda Corporation and KBR, Bechtel and Fluor Corporation, have either slipped down the list or fallen off it entirely. And the presence of China’s contractors has been growing in the region, but none have yet made it to the ranks of top 10 contractors during November 2016-October 2017, except China Petroleum Engineering & Construction Cor- poration, which won contracts worth a total of about $1.3bn in Algeria, Iraq and Kuwait. About $57.4bn-worth of EPC (engineering, procurement and construction) contracts were signed by 22 December 2017, a 58 per cent rise over contract awards in full-year 2016. Coun- tries such as Iran, Oman and Jordan witnessed significant traction in project awards during 2017. The Mena hydrocarbons projects market fared well in 2014 and 2015, but since then appears to have been affected by the collapse of crude prices. The market in 2014 and 2015 was buoyed by the award of Kuwait’s two refinery meg- aprojects, which largely account for the jump in spending over the two years and subsequent fall. Over the period in review, Iran was the second-largest market, with a total spend of $64.8bn. Since the lifting of sanctions in 2016, the oil and gas projects market in Iran has picked up well, and in 2017, con- tracts worth about $11.8bn were awarded as against $4.6bn in 2016. In recent times, such tre- mendous growth was only wit- nessed in 2011, when contracts worth $15.8bn were awarded in Iran. P02 Regulator cautions banks to prepare for Brexit REUTERS FRANKFURT European banks should prepare themselves and their customers for the risk of an abrupt departure by Britain from the European Union, one of the bloc’s top regulators warned yesterday. Flagging its concerns for financial stability as well as the readiness of “smaller institu- tions”, the European Banking Authority urged lenders to have “effective contingency planning” and tell customers how Brexit would affect them. The announcement comes as parliamentary deadlock in Britain has thrust the future of Brexit into doubt, with possible outcomes ranging from a disor- derly departure with no deal to another referendum on European Union membership. “The EBA is calling on all financial institutions affected to engage with their customers and provide adequate information on the risks and mitigating measures being taken,” the reg- ulator said. Both London and Brussels have stepped up planning for a no-deal exit. A senior British minister, speaking on condition of ano- nymity, told Reuters last week that the risk of a “managed” no-deal Brexit was rising, as Prime Minister Theresa May is unlikely to win enough conces- sions from the EU to satisfy eurosceptic rebels in her Con- servative Party. The minister added that there was no consensus for any alternative to May’s deal, which seeks to keep close trading ties with the bloc after leaving. In its statement, the EBA said customers worried about the impact of Brexit could contact banks themselves if they had heard nothing from them by the end of the year. May has repeatedly warned that if her agreement is rejected then the world’s fifth largest economy might have to leave without a deal - a nightmare option for many big businesses - or that Brexit might be thwarted altogether. No deal means there would be no transition period so the exit would be abrupt, but the EU and Britain could try to make agreements in certain areas, for example on aviation, to reduce the chaos. Wei Liu, Director of Chinese company 360 Finance Inc. (QFIN) stands outside the Nasdaq Market Site before the company’s IPO on the Nasdaq in Times Square in New York City, New York. Canada proposes hefty redress for airline delays AFP OTTAWA Airline passengers in Canada could soon be eligible for significant compensation for delayed flights or lost baggage, under proposed regulations unveiled by the government yesterday. The draft rules follow a rising number of complaints, including from one flight stuck on the tarmac in Ottawa for nearly six hours, with no air conditioning and the stench of a sick child’s vomit in the air. The long wait in swel- tering heat on that July 2017 flight led one passenger to dial emergency services for help after being told they could not disembark. “We all know someone who has had a negative flight experience or we have seen stories in the news,” Transport Minister Marc Garneau told a news conference in the baggage area of Ottawa’s international airport.

BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

  • Upload
    others

  • View
    2

  • Download
    0

Embed Size (px)

Citation preview

Page 1: BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

BUSINESSTuesday 18 December 2018

PAGE | 02 PAGE | 03QC holds

discussions with Syrian trade

delegation

Commercial Bank celebrates Qatar National Day

QFIN goes public

Qatar major contributor to tackling climate changeMOHAMMAD SHOEB THE PENINSULA

H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, President & CEO of Qatar Petroleum (QP) said that Qatar’s contributions to mitigating climate change and other envi-ronmental issues should be seen more broadly, given the fact the country alone meets nearly one-third of the world’s clean energy demand, rather than seeing things only in domestic and per capita perspective.

Speaking in a plenary session at the Doha Forum, which con-cluded on Sunday, Al Kaabi stressed that Qatar is supplying clean energy to a large number of countries where more than half of the humanity live. These countries are replacing coal and other heavier fuels with natural gas to curb carbon emissions. So these factors should also be taken into account while debating Qatar’s CO2 emissions.

He noted that Qatar, as part

of efforts in combating environ-mental challenges, is taking a lot of initiatives at domestic level which include building a big solar power plant in Qatar, which is one of the largest in the region; replacing all the diesel buses by introducing a new fleet run on CNG; and developing facilities and latest technologies to capture carbon and improve efficiency.

“One of our strategies is to achieve energy efficiency as part of our commitment in mitigating environmental challenges. We are also taking a lot of other

initiatives to ensure that we have less carbon particles in the air and investing heavily and

deploying the best available technology,” Minister said in response to a question related to

Qatar’s carbon footprint.Al Kaabi added: “In addition,

we are also working to address the issue of methane emissions in our industry. We have signed up with large industry partners to look at this critically, measure the methane emissions and study how we can do away with it as much as possible.”

With regard to the North Field LNG expansion project, which will boost Qatar’s LNG production capacity from the current 77 million tonnes per annum (mtpa) to 110mtpa by 2024, he added that the project is being implemented in a very responsible way taking into con-siderations all the possible impact to the environment and marine life.

“We are responsible people with families and kids who want to live in a good environment. That’s why when we are exe-cuting a project we make sure that we use the cutting-edge technology, which is proven and that money can buy to ensure the least possible impact to the

environment.”The Minister also noted that

articles in the media that high-light Qatar’s per capita CO2 emissions are “unfair” given the fact the country’s population is very small and any number divided by that gives unrealistic picture. And Qatar’s contribution as the largest supplier of LNG should be taken into consider-ation while debating on Qatar’s per capita carbon emissions.

“Qatar supplies natural gas, the cleanest forms of fossil fuel known to the mankind so far, to a large number of countries across the world, including Japan, China, India, Pakistan, Taiwan, South Korea, Thailand, Kuwait, Dubai (UAE), Jordan, Egypt, Turkey, Italy, Spain, France, Poland, Belgium, the UK, Germany, Holland and many others. Their respective con-sumption of Qatari gas ranges between 5 and 30 percent of the total. They burn clean gas to replace coal, biomass and other heavier fuels, aiming to reduce carbon emissions,” said Al Kaabi.

H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum.

One of our strategies

is to achieve energy

efficiency as part

of our commitment

in mitigating

environmental

challenges.

Mena sees rise in Chinese contracts in oil & gasSATISH KANADY THE PENINSULA

The Mena region saw an esti-mated $287bn-worth of major contract awards in the oil, gas and petrochemicals sectors from January 2012 to September 2017, according to MEED Projects.

In 2016, project activity in the Mena region witnessed the lowest spending since 2008, with the value of contract awards declining to $36.2bn from $59.9bn in 2015. Project awards significantly fared better in 2017, region’s leading market intelligence platform noted yesterday.

According MEED, the ranking of top contractors has changed considerably over the past decade. Previous top firms such as France’s Technip, Japan’s Chiyoda Corporation and KBR, Bechtel and Fluor Corporation, have either slipped down the list or fallen off it entirely. And the presence of China’s contractors

has been growing in the region, but none have yet made it to the ranks of top 10 contractors during November 2016-October 2017, except China Petroleum Engineering & Construction Cor-poration, which won contracts

worth a total of about $1.3bn in Algeria, Iraq and Kuwait.

About $57.4bn-worth of EPC (engineering, procurement and construction) contracts were signed by 22 December 2017, a 58 per cent rise over contract

awards in full-year 2016. Coun-tries such as Iran, Oman and Jordan witnessed significant traction in project awards during 2017. The Mena hydrocarbons projects market fared well in 2014 and 2015, but since then appears to have been affected by the collapse of crude prices. The market in 2014 and 2015 was buoyed by the award of Kuwait’s two refinery meg-aprojects, which largely account for the jump in spending over the two years and subsequent fall.

Over the period in review, Iran was the second-largest market, with a total spend of $64.8bn. Since the lifting of sanctions in 2016, the oil and gas projects market in Iran has picked up well, and in 2017, con-tracts worth about $11.8bn were awarded as against $4.6bn in 2016. In recent times, such tre-mendous growth was only wit-nessed in 2011, when contracts worth $15.8bn were awarded in Iran. �P02

Regulator cautions banks to prepare for BrexitREUTERS FRANKFURT

European banks should prepare themselves and their customers for the risk of an abrupt departure by Britain from the European Union, one of the bloc’s top regulators warned yesterday.

Flagging its concerns for financial stability as well as the readiness of “smaller institu-tions”, the European Banking Authority urged lenders to have “effective contingency planning” and tell customers how Brexit would affect them.

The announcement comes

as parliamentary deadlock in Britain has thrust the future of Brexit into doubt, with possible outcomes ranging from a disor-derly departure with no deal to another referendum on European Union membership.

“The EBA is calling on all financial institutions affected to engage with their customers and provide adequate information on the risks and mitigating measures being taken,” the reg-ulator said.

Both London and Brussels have stepped up planning for a no-deal exit.

A senior British minister,

speaking on condition of ano-nymity, told Reuters last week that the risk of a “managed” no-deal Brexit was rising, as Prime Minister Theresa May is unlikely to win enough conces-sions from the EU to satisfy eurosceptic rebels in her Con-servative Party.

The minister added that there was no consensus for any alternative to May’s deal, which seeks to keep close trading ties with the bloc after leaving.

In its statement, the EBA said customers worried about the impact of Brexit c o u l d c o n t a c t b a n k s

themselves if they had heard nothing from them by the end of the year.

May has repeatedly warned that if her agreement is rejected then the world’s fifth largest economy might have to leave without a deal - a nightmare option for many big businesses - or that Brexit might be thwarted altogether.

No deal means there would be no transition period so the exit would be abrupt, but the EU and Britain could try to make agreements in certain areas, for example on aviation, to reduce the chaos.

Wei Liu, Director of Chinese company 360 Finance Inc. (QFIN) stands outside the Nasdaq Market Site before the company’s IPO on the Nasdaq in Times Square in New York City, New York.

Canada proposes hefty redress for airline delaysAFP OTTAWA

Airline passengers in Canada could soon be eligible for significant compensation for delayed flights or lost baggage, under proposed regulations unveiled by the government yesterday.

The draft rules follow a rising number of complaints, including from one flight stuck on the tarmac in Ottawa for nearly six hours, with no air conditioning and

the stench of a sick child’s vomit in the air.

The long wait in swel-tering heat on that July 2017 flight led one passenger to dial emergency services for help after being told they could not disembark.

“We all know someone who has had a negative flight experience or we have seen stories in the news,” Transport Minister Marc Garneau told a news conference in the baggage area of Ottawa’s international airport.

Page 2: BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

02 TUESDAY 18 DECEMBER 2018BUSINESS

10,489.04

-7.46 PTS

0.07%

QSE FTSE100 DOW BRENT6,773.24

−71.93 PTS

1.05%

23,554.44

−546.07PTS

1.27% Dow & Brent before going to press

$49.29

-1.91

MarketWatch

QC holds discussions with Syrian trade delegationTHE PENINSULA DOHA

Qatar Chamber (QC) held a meeting with Syrian busi-nessmen delegation, where the two sides discussed the fields of energy, real estate devel-opment, textile industry, agri-culture, communications, auto-mobile, meat, poultry and feed trade.

During the meeting, they reviewed the areas in which Qatari businessmen can coop-erate with their Syrian coun-terparts who own dozens of companies operating outside Syria.

QC First Vice-Chairman Mohamed bin Towar Al Kuwari hoped that the joint meeting between Qatari and Syrian busi-nessmen will further promote and strengthen trade and investment cooperation between the two parties.

He pointed out that there are about 2000 Qatari-Syrian joint companies operating in the Qatari market, noting that there are great opportunities for establishing more partnerships between Qatari and Syrian busi-nessmen inside and outside

Qatar in various sectors such as agriculture, manufacturing,

food, educational services, tourism and others.

He explained that the State of Qatar has managed to con-tinue to enhance and diversify the resources of its economy, adding the Qatari economy has become a strong and growing economy that depends on diversity and openness. Qatar witnessed a boom and major infrastructure development projects are being imple-mented, he said, pointing to

other projects in light of the preparations for the 2022 World Cup.

During the meeting, the Syrian delegation made a pres-entation in which it outlined that the volume of investments of Syrian businessmen in the diaspora is amounted to $53bn, of which $33bn are in pro-ductive and industrial invest-ments and $20bn are in financial investments in 42 countries.

Masraf Al Rayan launches cashback offer to celebrate Qatar National DayTHE PENINSULA DOHA

Masraf Al Rayan has launched cashback offer to celebrate Qatar National Day. Masraf Al Rayan Customer holding Visa Credit and Eqtisadi cards will be eligible to earn 2 percent cashback on all their Purchases including E-commerce transactions carried out on today.

The main objective of the campaign is to reward Masraf Al Rayan Credit and Eqtisadi Cardholders on the special occasion of celebrating the 2018 Qatar National Day. There is no minimum spending limit pre-scribed to be eligible for this cashback offer. In addition the unique feature of this pro-motion is that, unlimited cashback it offers to card-holders without a maximum cap.

The cashback amount will be automatically credited to the card account in the next statement cycle. No registration

and reward points conversion is required to participate in this special offer.

“We are excited to cele-brate Qatar National Day with our customers by presenting a very attractive Cashback offer. We are confident that our cus-tomers will whole heartedly welcome this offer and make best use of it”, said Hamad Aljamali, General Manager Retail & Private Banking.

QC’s First Vice-Chairman Mohamed bin Ahmed bin Towar Al Kuwari with Syrian business delegation.

Doha Bank marks National Day with festivitiesTHE PENINSULA DOHA

Doha Bank, one of the largest private commercial banks in Qatar, marked Qatar National Day 2018 with several tradi-tional activities and cultural festivities at its corporate head-quarters yesterday. The day-long celebration featured the presence of VIPs, the Bank’s leadership, senior management, as well as employees and their families.

Doha Bank’s Chairman Sheikh Fahad bin Mohammad bin Jabor Al Thani, Managing Director Sheikh Abdul Rehman bin Mohammad bin Jabor Al Thani, Group CEO Dr. R. Seetharaman, and Head of Administration and Property Department, Ahmed Ali Al Henzab, head of administration and property department, Sh.

Abdulla Bin Mohammad Bin Jabor Al Thani, member of board of directors, Ali Ibrahim Abdullah Al-Malki, independent member and Nasser Khalid Nasser Abdullah Al Mesnad, independent member, were among chief guests at the event commemorating the country’s unification in 1878.

The festivities promoting the rich history and traditions of Qatar as well as the values of brotherhood and unity

included Ardha dance and national songs. Decorated with the national flag’s colors of white and maroon, Doha Bank’s headquarters received guests all-day with an array of tradi-tional Qatari food and confectionary.

Sheikh Fahad b in Mohammad bin Jabor Al Thani, Chairman of the Board of Directors of Doha Bank, said: “I would like to extend my warmest congratulations and greetings to the Amir His Highness Sheikh Tamim bin Hamad Al Thani, our customers, stakeholders, partners, col-leagues and the people of Qatar on the occasion of the National Day.

The most festive day in our country is the perfect oppor-tunity to emphasize the Qatari identity and ideals, and pay homage to those who

contributed towards building this great nation.”

Sheikh Abdul Rehman bin Mohammad bin Jabor Al-Thani, Managing Director of Doha Bank, said: “The National Day is the perfect occasion for us to reminisce about Qatar’s mile-stones and accomplishments over the years. On that note, it gives me great pleasure to con-gratulate our respected leaders on this occasion, and the people of Qatar and all those who reside on this beloved landed.

At Doha Bank, we take pride in the pivotal role we play in the development of our nation’s economy to what it is today. We continue to be fully committed to supporting our leaderships vision, and striving towards achieving further pros-perity and success in the near future.”

Doha Bank’s Chairman Sheikh Fahad bin Mohammad bin Jabor Al Thani, Managing Director Sheikh Abdul Rehman bin Mohammad bin Jabor Al Thani, Group CEO Dr. R Seetharaman and other senior executives and bank staff during the Qatar National Day celebrations.

The festivities

promoting the rich

history and traditions

of Qatar as well as the

values of brotherhood

and unity included

Ardha dance and

national songs.

FROM BUSINESS PAGE 1

The 2011-16 period wit-nessed the resurgence of large European contractors, including the UK’s Petrofac, Italy’s Saipem and Spain’s Tecnicas Reunidas, who were among the top three contractors. Between November 2016 and October 2017, these three contractors featured again in the list of top 10 contractors, together accounting for about $10bn-worth of projects. Italy’s Saipem won contracts across the region. In terms of value, the Zohr gas field export pipeline project in Egypt, worth $900m, was the largest project won by Saipem, followed by Kuwait Oil Company’s new refinery feed pipeline project in the Al-Zour area of Kuwait, worth $850m.

Spain’s Tecnicas Reunidas won one contract in Oman in a joint venture with South Korea’s Daewoo. In Oman, Tecnicas Reunidas is part of the $2.7bn Duqm refinery process unit (Phase 1) project. UK’s Petrofac is also part of the Duqm refinery project in Oman, where it is

working in a joint venture with Samsung Engineering on the $2bn offsite and utilities (Phase 2) project. Another major project that came under Petro-fac’s portfolio during November 2016-October 2017 was that for constructing Gathering Centre 32 at the Burgan field in the southeast of Kuwait. Jordan’s Mass Group Holding (MGH) won one of the largest projects during the past year. It was awarded a $3bn contract for constructing Iraq’s strategic Najaf-Aqaba crude oil export pipeline.

Including Iran, the total value of planned and una-warded projects in the region is estimated to be $388.5bn, making Iran the largest and leading contributor for planned projects in the region as of December 2017.

About 67 per cent of planned projects in the Mena region are in the study phase, which is a sign of the uncer-tainty over how many of the planned schemes will come into fruition in the coming years.

Mena sees rise in Chinese contracts in oil & gas

Boeing, Embraer forge on with tie-up after Brazil suspension reversedAFP SAO PAULO

US planemaker Boeing and Brazil’s Embraer said yesterday they have approved the terms of a partnership to create a joint venture now worth $5.26bn - more than when they first announced it in July.

“The transaction remains subject to approval by the Gov-ernment of Brazil, after which Embraer and Boeing intend to execute definitive transaction documents,” the two companies said in a statement.

The news comes a week after a Brazil appeals court

overturned a “hasty” suspension ordered by a lower court days earlier that would have pre-vented the outgoing Brazilian government of taking any con-crete decision of the proposed tie-up.

Embraer, the third-largest aircraft manufacturer in the world, was founded as a state group in 1969 before being pri-vatized in 1994, although the Brazilian government retains a “golden share” giving it the right to veto strategic decisions for the company.

Under the planned deal, Boeing is to take an 80 percent stake in Embraer’s commercial

business, thus allowing it to offer planes with capacity of up to 150 seats -- a market in which Boeing currently does not compete.

Embraer’s military aircraft business was excluded to overcome Brazilian government opposition to giving up a national champion to a foreign entity.

The deal initially valued the joint venture at $4.75 million. But Monday’s statement said Boe-ing’s 80-percent stake would be worth $4.2 billion, making the whole of the merged operation worth nearly $5.3 billion.

“Once the transaction has closed, the commercial aviation

joint venture will be led by Brazil-based management, including a president and chief executive officer,” the statement said.

“Boeing will have opera-tional and management control of the new company, which will report directly to Dennis Muilenburg, Boeing chairman, president and chief executive officer.”

It said the partnership “would position both companies to accelerate growth in global aerospace markets.”

Synergies would reduce costs by $150m annually by the third year, it said.

Embraer shares shot up five percent in beginning of trade fol-lowing the joint statement.

In their original July announcement of the joint venture, the planemakers said they expected to wrap up the transaction by the end of 2019.

The tie-up is seen as a response to a similar strategic partnership announced in October 2017 between Boeing’s European arch-rival Airbus and Canada’s Bombardier.

The Brazilian and US com-panies are creating another joint venture to promote their defense products and services, especially Embraer’s KC 390, a military

transport aircraft vehicle. Monday’s statement said

that operation -- which will see Boeing hold a controlling 51-percent stake -- was also subject to approval by Brazil’s government and Embraer’s board. The Boeing-Embraer rap-prochement was struck under Brazil’s outgoing President Michel Temer, who leaves office in two weeks’ time.

He is to be succeeded by Jair Bolsonaro, a far-right politician with close ties to the military who previously had a long record as a nationalist and protectionist when it came to Brazil’s economy.

During the meeting,

they reviewed the

areas in which Qatari

businessmen can

cooperate with their

Syrian counterparts

who own dozens of

companies operating

outside Syria.

Page 3: BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

03TUESDAY 18 DECEMBER 2018 BUSINESS

No-deal Brexit almost certain to trigger UK rating cut: FitchREUTERS LONDON

A no-deal Brexit would almost certainly mean Britain’s credit rating would be cut again early next year, rating agency Fitch warned on Monday.

Fitch’s top sovereign analyst, James McCormack, told Reuters that crashing out of the European Union next March without a transition deal was likely to send Britain into a recession.

While it could be mild one if the turmoil gets resolved quickly, a more pessimistic outcome was expected to see the British economy contract 0.6 percentage point for 2019 as a whole.

“Clearly the deficit would be going up more substantially in the deeper recession scenario and that that would almost cer-tainly reverse the course of the debt-to-GDP reduction and would almost certainly have a rating impact,” McCormack said.

Fitch has kept a ‘negative

outlook’ - effectively a down-grade warning - on Britain’s rating since it cut it to AA from AA+ in the wake of the 2016 Brexit vote.

It had already stripped of its prized triple-A grade back in 2016 but is now on alert again as the fierce political opposition to British Prime Minister Theresa May’s Brexit transition plans raises the “no-deal” threat.

“I expect we would be in a position to make a call upon hard Brexit itself, since we would know the parameters of exit and then could take a view on the economic implications,” McCormack said.

Oil rallies but oversupply, economic growth weighREUTERS LONDON

Oil prices rose yesterday after a key Middle East oil minister suggested the market was rebalancing, but investor sen-timent remained under pressure from oversupply and concern over the prospects for global economic growth and fuel demand.

Brent crude oil was up 30 cents a barrel at $60.58 by 1430 GMT. US light crude was 10 cents higher at $51.30.

“Oil prices are regaining some ground on the back of bullish rhetoric from Opec offi-cials,” said Stephen Brennock, analyst at London brokerage PVM Oil.

Both benchmarks fell more than 25 percent through October and November as a supply glut inflated global inventories but have stabilised over the last three weeks, trading within fairly narrow ranges as oil producers have promised to cut production.

Some investors doubt planned supply cuts by the Organization of the Petroleum Exporting Countries and other producers such as Russia will be enough to rebalance markets.

Opec and its allies have agreed to reduce output by 1.2 million barrels per day (bpd) from January, in a move to be reviewed at a meeting in April.

A Minister from and Opec member country told reporters in Dubai yesterday that the global oil market was “cor-recting” and he expected “eve-ryone” to cut oil supply under the agreement reached earlier

this month in Vienna.US shale output is growing

steadily, taking market share from the big Middle East oil producers in Opec and making it harder for them to balance their budgets.

Russian oil output has been at a record high of 11.42 million barrels per day (bpd) in December so far, an industry source familiar with the data told Reuters.

Increasing concerns about weakening growth in major markets such as China and Europe have also dampened the mood in oil and other asset classes. Chinese oil refinery throughput in November fell from October, suggesting an easing in oil demand, while the country’s industrial output rose the least in nearly three years as the economy continued to lose momentum.

Oil prices found some support after energy services firm Baker Hughes said U.S. drillers reduced oil rigs in the week to Dec. 14, pulling the total count to the lowest since mid-October at 873.

However, the current US rig count, which serves as an early indicator of future US output, is higher than a year ago.

US takes fire at World Trade Organaisation’s trade policy forumAFP GENEVA

Major economic powers took aim at the United States yesterday at a World Trade Organisation forum, where Washington was accused of abandoning its lead-ership role for the sake of self-interest.

Every WTO member faces a trade policy review, but the latest US audit turned especially hostile, with nations blasting a raft of tariffs and other measures implemented by President D o n a l d T r u m p ’ s administration.

Speaking first after a US

presentation, Chinese Ambas-sador Zhang Xiangchen said the US was not honouring its obli-gations as the world’s largest economy.

The 164-member WTO has been one of many fronts where the US-China trade war has played out.

Trump’s WTO envoys have consistently condemned the WTO for failing to respond to threats posed by China and letting it defy market-based global trading rules with impunity.

US Ambassador Dennis Shea insisted Washington would con-tinue to push for reform but

insisted that without action to challenge China the WTO’s importance would diminish.

“We must recognise that the WTO (the US) helped create, and

the WTO we seek, is in key respects not the WTO we have today,” Shea said.

The WTO must recognise that China’s conduct is “contrary

to the fundamental principles of this organisation,” he added.

The European Union has voiced support for some US efforts to challenge China within the WTO.

But EU Ambassador Marc Vanheukelen said Monday that Washington was at the “epi-centre” of the crisis affecting the multilateral trading system.

“The US has (in the past) consistently sought to uphold WTO rules, and ambivalence about their value casts a long shadow to the future,” he told the forum.

Canada and Japan also joined the fray, restating crit-

icism over Trump’s steel and alu-minium tariffs.

Beyond China, Washington has also targeted the WTO’s dispute settlement system -- sometimes dubbed the supreme court of world trade.

Shea on Monday again accused WTO judges of having an “activist approach” and over-stepping their mandate by making pronouncements on issues that must be decided through negotiations.

The US has blocked the appointment of new judges to the dispute panel’s appellate branch, which could force it to shut down by the end of next year.

Some investors doubt

planned supply cuts

by the Organization

of the Petroleum

Exporting Countries

and other producers

such as Russia will be

enough to rebalance

markets.

Google to spend $1bn on new campus in New YorkREUTERS NEW YORK

Alphabet Inc’s Google is investing more than $1bn on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs.

The 1.7m square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog. Google hopes to start moving into the building by 2022.

The plan to invest outside its home base mirror those of other US tech giants such as Apple Inc, which said last week it would spend $1bn to build a new campus in Austin, Texas.

Last month, Amazon.com Inc said it would open offices in New York and the Washington, D.C. area, creating more than 25,000 jobs.

Mountain View, California-based Google’s move to invest in prime real estate on the Lower West Side of Manhattan also underscores the growing

importance of New York as a hub for innovation and an incu-bator for technology companies.

With a plethora of white-collar workers and good infra-structure, the city provides a better option to other places that would require more investment.

“Our investment in New

York is a huge part of our com-mitment to grow and invest in US facilities, offices and jobs. In fact, we’re growing faster outside the Bay Area than within it,” said Ruth Porat, chief financial officer of Alphabet and Google.

US corporations are also under pressure from the Trump administration to create more

jobs domestically. Companies that have moved jobs overseas or closed factories have drawn sharp rebukes from President Donald Trump.

The Wall Street Journal reported last month that Google was nearing a deal to buy or lease an office building in New York City that could add space for more than 12,000 new workers.

Google’s first New York office at 111 Eighth Avenue is one of the city’s largest buildings that it bought in 2010 for $1.77bn.

Earlier this year, the company announced a $2.4bn purchase of the Manhattan Chelsea Market. It also has leased space on Pier 57 jutting into the Hudson, which will create a four-block campus.

With investments in Google Chelsea and Google Hudson Square, the company said it would more than double the number of employees in New York over the next 10 years. The company has more than 7,000 employees in New York.

The company’s shares were marginally higher at $1,053 in premarket trading.

Commercial Bank celebrates Qatar National DayTHE PENINSULA DOHA

In celebration of Qatar National Day 2018, Commercial Bank held a special celebration yesterday in recognition of the achievements of the State of Qatar under the leadership of the Amir H H Sheikh Tamim bin Hamad Al Thani.

The Bank’s Chairman, Board of Directors, Executive Man-agement, employees and clients attended the atmospheric cer-emony at its headquarters in West Bay. As part of the event programme, a traditional musical operette, “Hadza Al Dasha”, was presented to guests. The operette told the story of sailors preparing to depart for a voyage in search of their live-lihood at sea by saying goodbye to their family and loved ones,

reflecting the values, traditions and culture of Qatari society with its emphasis on overcoming struggles, patience and giving.

In addition, Commercial Bank showcased a new song (sheila) called ‘Yeslam Tamim’ and organised a wide range of activities for its employees that celebrate the rich heritage, culture and history of Qatar and reflect the love and loyalty of the Bank’s employees towards His Highness the Amir Sheikh Tamim bin Hamad Al Thani.

Commercial Bank Chairman Sheikh Abdulla bin Ali bin Jabor Al Thani said: “The slogan of this year’s Qatar National Day is ‘as long as it was proven by our deeds’, which is a verse in a poem by Qatar’s Founder Sheikh Jassim bin Mohammed bin Thani points to the importance of good deeds that build and strengthen

the nation. At Commercial Bank, this principle acts as our guiding light not only when organizing our Qatar National Day celebra-tions, but throughout the year in all the Bank’s activities.” In line with its corporate social respon-sibility commitments, Com-mercial Bank has created and distributed a limited edition set of national day souvenirs for children. The Bank distributed the souvenirs to schools, hos-pitals and the Qatar Society for Rehabilitation of People with Special Needs. The bank also produced a film in Souq Waqif that features traders talking about their memories and what Qatar National Day means to them.

Omar Hussain Alfardan, Managing Director of Com-mercial Bank, said: “Commercial Bank has been part of Qatar’s

banking industry for the last 44 years and the Qatar National Day activities that we have organized for our employees are in line with our commitment to Qatar and the community. Joseph Abraham, Group CEO, Com-mercial Bank, said: “Qatar National Day is a time for us at Commercial Bank to celebrate Qatar’s achievements and its leadership. As a bank, we are especially thankful for the gov-ernment’s fine stewardship of the economy and maintaining international confidence in Qatar’s banking system. Despite the blockade, Qatar’s economy has proven its resilience in 2018 and has become even stronger and more diversified.” Every year Commercial Bank holds several celebratory events at its branches to mark Qatar National Day.

Commercial Bank Chairman Sheikh Abdulla bin Ali bin Jabor Al Thani; Vice-Chairman Hussain Ibrahim Al Fardan; Managing Director Omar Al Fardan; and Group CEO Joseph Abraham with other members of Board of Directors and the staff and their children at the Qatar National Day celebrations held at the Commercial Plaza, the CBQ headquarters, in Doha yesterday. PIC: SALIM MATRAMKOT / THE PENINSULA

Dennis Shea (left) and Zhang Xiangchen

Fitch has kept a

‘negative outlook’

- effectively a

downgrade warning

- on Britain’s rating

since it cut it to AA

from AA+ in the wake

of the 2016 Brexit

vote.

Page 4: BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

04 TUESDAY 18 DECEMBER 2018BUSINESS

Nissan has a 15

percent non-voting

stake in Renault,

whose biggest

shareholder is the

French state with 15

percent.

Hiroto listens to allegations against Ghosn REUTERS YOKOHAMA

Nissan Motor’s CEO called on directors at alliance partner Renault to heed its reasons for sacking former Chairman Carlos Ghosn over alleged financial misconduct amid tensions over how to handle the fallout from his arrest.

Renault’s interim chairman Philippe Lagayette said on Friday that its board had not considered replacing Ghosn, who was ousted by Nissan days after his arrest in Japan in November, as head of the French carmaker.

Ghosn has denied wrong-doing, media reports say, although he has not made any public statements since his arrest.

“We hope the board will listen to our explanation,” Nissan Chief Executive Hiroto Saikawa (pictured) told reporters after a board meeting of the Japanese carmaker at which it confirmed plans to strengthen corporate gov-ernance following the Ghosn crisis.

Although sources familiar with the matter say Nissan has briefed Renault lawyers on its findings relating to Ghosn’s alleged misconduct, Renault directors have yet to be given

access to the full information.“We understand that the

raw details of the misconduct have yet to reach each of Renault’s board members,” Saikawa said of the allegations against Nissan’s once-revered boss.

Nissan said it has already shared its findings with the board of Mitsubishi Motors, which is the third, junior member of the carmaking alliance.

While Nissan is almost 60 percent bigger by sales, it remains the junior partner in their shareholding hierarchy to Renault, which owns a 43.4 percent in its Japanese partner.

Nissan has a 15 percent non-voting stake in Renault, whose biggest shareholder is the French state with 15

percent. Ghosn, who was arrested on Nov. 19 by Japanese authorities, was officially charged in a Tokyo court last week and remains in detention. The Japanese automaker was also indicted for its role in the scandal.

Nissan’s board met on Monday after Thierry Bollore, Renault’s deputy CEO, asked Nissan in a Dec. 14 letter to call an extraordinary shareholders meeting, a source said on Sunday.

Saikawa declined to comment on the report.

Nissan said it was estab-lishing a special committee for improving governance, as well as an advisory committee to propose a chairman.

Saikawa said he expected the governance committee would “take a scalpel” to Nis-san’s governance team, and that he did not have a deadline for naming a successor to Ghosn.

“We shouldn’t hurry, we

should take our time ... I will make every effort (to ensure that a new chairman is selected soon), but I will refrain from setting a deadline for this,” he said.

He also brushed off calling a shareholder meeting in the immediate future, saying that he planned to summon share-holders after the board comes up with changes based on rec-ommendations from the special committee, expected in late March.

The board, until last week, had been expected to name an interim chairman on Monday. But a panel of external directors put off their selection, deciding to prioritise measures to improve governance, a source familiar with the matter said.

Critics have said Nissan lacked adequate governance, with few truly independent voices capable of questioning its leadership and looking out for regular shareholders’ interests.

Its three external board members include retired Renault executive Jean-Bap-tiste Duzan, considered to rep-resent the views of the French automaker. The other two are former bureaucrat Masakazu Toyoda and racing car driver Keiko Ihara.

Investors lose on bonds, stocks for first time since crisisBLOOMBERG LONDON

Corporate bonds and stocks are to set hand out annual losses on both sides of the Atlantic for the first time since the global financial crisis a decade ago.

Fast-shifting narratives on interest rates and US China trade tensions have hit shares this year, while global credit is headed for the worst year in 10 as the withdrawal of central-bank stimulus increases focus on company-specific risks. It will be the first time since 2008 that buyers of stocks and credit both get negative returns, and only the second time since at least 1998, data compiled by Bloomberg show.

It seems fixed-income investors can’t catch a break, as government bonds also sink in the red this year. It’s been “a very unusual 2018 where likely we’re going to close out the year with negative returns in both fixed income and equities globally,” said Richard Turnill, global chief investment strat-egist at BlackRock Inc., said at a Dec. 11 briefing.

The assets’ simultaneous struggles underline the diffi-culties facing investors as central banks seek to exit years

of ultra-loose monetary policy following the 2008 crisis. Euro-denominated corporate high-grade bonds have lost 1.3 percent year-to-date, the worst performance since 2008, Bloomberg Barclays’ Euro Aggregate Corporate Total Return Index data show. Stocks have fared even worse, with losses of 11 percent this year for the Stoxx 600 Europe Index.

It’s a similar story for the US Excluding the 2008 global financial crisis, the last time investors were handed bond and stock losses was 1974 -- the year of President Richard Nixon’s resignation, runaway inflation, and the Rumble in the Jungle between George Foreman and Muhammad Ali.

In 2018, “there’s been a bit more concern in markets about mature cycles, earnings still good but being revised down and so on,” said Gabriel Sterne, head of global macro research at Oxford Economics in London. “That’s been the story of the year as a whole. There isn’t any single episode you can fit the narrative into.”

There could yet be more pain to come, as Europe’s eco-nomic recovery stalls and cor-porate earnings look chal-lenged for next year.

QATAR STOCK EXCHANGE

QE Index 10,489.04 0.07 %

QE Total Return Index 18,480.52 0.07 %

QE Al Rayan Islamic Index - Price 2,428.46 0.29 %

QE Al Rayan Islamic Index 3,940.23 0.29 %

QE All Share Index 3,112.99 0.04 %

QE All Share Banks &

Financial Services 3,879.90 0.58 %

QE All Share Industrials 3,301.49 0.44 %

QE All Share Transportation 2,110.05 0.23 %

QE All Share Real Estate 2,118.00 0.41 %

QE All Share Insurance 3,114.45 0.11 %

QE All Share Telecoms 1,028.82 0.52 %

QE All Share Consumer

Goods & Services 6,738.25 2.09 %

QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES

GOLD AND SILVER

17-12-2018Index 10,489.04 Change 7.46 % 0.07 YTD% 23.06 Volume 18,817,753 Value (QAR) 364,768,124.34 Trades 15,270 Up 15 | Down 25 | Unchanged 0616-12-2018Index 10,496.50Change 40.36% 0.39YTD% 23.15Volume 29,758,732Value (QAR) 486,462,944.17Trades 24,558

EXCHANGE RATE

GOLD QR145.5810 grammeSILVER QR1.7149 per gramme

Index Day’s Close Pt Chg % Chg Year High Year Low

All Ordinaries 5732.9 54.1 0.95 6481.3 5624.8

Cac 40 Index/D 4823.9 -29.8 -0.61 5657.44 4732.02

Dj Indu Average 24100.51 -496.87 -2.02 26951.81 23344.52

Hang Seng Inde/D 26087.98 -6.81 -0.03 33484.08 24540.63

Iseq Overall/D 5502.9 -16.36 -0.3 7257.41 5403.23

Kse 100 Inx/D 38309.17 -276.49 -0.72 47144.12 36274.25

S&P 500 Index/D 2599.95 -50.59 -1.908668 2940.91 2532.69

Currency Buying SellingUS$ QR 3.6305 QR 3.6500

UK QR 4.5768 QR 4.6411

Euro QR 4.1091 QR 4.1673

CA$ QR 2.6985 QR 2.7518

Swiss Fr QR 3.6433 QR 3.6944

Yen QR 0.03187 QR 0.03249

Aus$ QR 2.5920 QR 2.6426

Ind Re QR 0.0504 QR 0.0514

Pak Re QR 0.0256 QR 0.0266

Peso QR 0.0681 QR 0.0695

SL Re QR 0.0200 QR 0.0205

Taka QR 0.0430 QR 0.0439

Nep Re QR 0.0315 QR 0.0321

SA Rand QR 0.2516 QR 0.2566

Page 5: BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

05TUESDAY 18 DECEMBER 2018 BUSINESS

BREAK TIMEVILLAGGIO & CITY CENTER

Note: Programme is subject to change without prior notice.

Johnny ( 2D/Tamil) 2:15pm Joseph (2D/Malayalam) 2:15pm Spider-Man: Into The Spider-Verse (2D/Arabic) 2:00, 4:45 & 7:00pm; Christmas Break-In (2D/Comedy) 4:15pm; Aquaman (2D/Action) 4:45, 6:00, 8:45 & 11:15pmSecond Act (2D/Comedy) 7:15pm; The Bombing (2D/Action) 9;15pm; Three Words To Forever (2D/ Tagalog) 9:15pm; Oru Kupra Sidha Payyan (2D/Malayalam) 11:00pm; Pinky Memsaab: A Dubai Story (2D) 11:15pm;

Oru Kupra Sidha Payyan (2D/Malayalam) 2:15pm; Elliot The Littlest Reindeer (2D/Animation) 2:15pm; Johnny (2D/ Tamil) 2:30 & 11:30pm Aquaman (2D/Action) 4:00, 7:00, 8:45 & 11:15pmSpider-Man: Into The Spider-Verse (2D/Arabic) 5:00 & 7:15pmMalevolent (2D/Horror) 9:30pmChristmas Break-In (2D/Comedy) 5:00pm; Pinky Memsaab: A Dubai Story (2D) 6:30pmThree Words To Forever (2D/ Tagalog) 9:30pmJoseph (2D/Malayalam) 11:15pm

Elliot The Littlest Reindeer (2D/Animation) 2:30pm; Spider-Man: Into The Spider-Verse (2D/Arabic) 4:15 & 7:00pm; Aquaman (2D/Action) 4:30, 6:30, 9:30 & 11:30pmThe Man Who Invented Christmas (2D/Malayalam) 2:30pmAquaman (2D/Action) 4:30, 6:30, 9:30 & 11:30pmFahrenheit 11/9 (2D/Documentary) 9:15pmJoseph (2D/Malayalam) 11:30pm

Joseph (2D/Malayalam) 5:45, 6:30, 8:30 & 11:15pmOru Kupra Sidha Payyan (2D/Malayalam) 6:00, 6:30, 8:45, 11:00pm, 12:00amJohnny (2D/ Tamil) 3:45 & 9:15pm2.0 (2D/Tamil) 9:15pm

Aquaman (2D/Action) 10:30am, 11:00am, 1:30, 2:00, 4:30, 5:00,

5:30, 8:00, 11:00, 10:30, 11:30pm

Joseph (2D/Malayalam) 1:30, 7:30, 10:30pm

Oru Kupra Sidha Payyan (2D/Malayalam) 4:30 & 8:30pm

Spider-Man: Into The Spider-Verse (2D/Arabic) 1:30, 3:30, 6:00

& 8:30pm

In 1985, Russian boxer Ivan Drago killed former US champion Apollo Creed in a tragic match that stunned the world. Against the wishes of trainer Rocky Balboa, Apollo’s son Adonis Johnson accepts a challenge from Drago’s son

-- another dangerous fighter.

ROYAL PLAZA MALLCROSSWORD

LANDMARK

FLIK Mirqab Mall

ROXY

ASIAN TOWN

2.0 (3D) 8:15, 11:25pmAquaman (2D/Action) 12:30, 3:20, 8:35, 11:30pmCreed II (2D/Drama) 10:10Elliot The Littlest Reindeer (2D/Animation) 10:35am & 4:15pm; Mortal Engines 1:35, 10:40, 7:05, 11:05, 5:25pmOru Kupra Sidha Payyan (2D/Malayalam) 6:00pm,Ralph Breaks The Internet: Wreck It Ralph 2 (2D/Ani-

mation) 4:20, 1:45 & 3:05pmSecond Act 12:25, 8:00pm & 0:20amSpider-Man: Into The Spider-Verse (2D/Arabic) 11:30am, 2:00, 6:10, 2:15, 9:00, 8:30pmThree Words To Forever (2D/ Tagalog) 5:30 & 8:30pmWindows 11:00am, 12:30 & 9:45pm

CREED II

Swiss stock exchanges set for EU market access through JuneBLOOMBERG ZURICH

The European Union proposed granting Switzerland’s stock exchanges access to the single market until the end of June, and tied any further extension to the S w i s s g o v e r n m e n t ’ s endorsement of a new agreement on economic ties with the bloc.

The European Commission, the EU’s executive arm, pro-posed a six-month extension of the so-called equivalence decision that allows Swiss trading venues to serve EU clients. Without it, bourses led by SIX Swiss Exchange AG would be shut out of the EU at the end of this year.

Julian Chan, a spokesman for SIX, said winning a per-manent equivalence determi-nation is the company’s “highest priority.” Roland Meier, a spokesman for the Swiss

Finance Ministry, said the gov-ernment also seeks a market-access deal without a time limit, because the country meets all the requirements.

The temporary access deal would ensure continuity for cross-border equities traders and give the Swiss government time to build support for the agreement on economic ties with the EU, Valdis Dom-brovskis, the EU’s financial-services policy chief, said in a statement on Monday. The

proposal has been put to EU member states, which have until Dec. 19 to respond, according to people familiar with the process.

“We’re aware that some time will pass between the Federal Council’s decision and the final Swiss decision,” the commission’s Johannes Hahn told reporters in Brussels. Still, the basis of a further extension of the stock-trading equivalence finding would be that the Swiss government “judges the result of our negotiations as positive, and recommends that the rel-evant institutions, and the Swiss voters, adopt it,” he said.

The issue of Swiss stock exchanges handling trades from EU clients has long been caught up in the fraught negotiations on the new agreement on Swiss-EU relations. Last year, the com-mission granted the exchanges just one year of market access as it pushed Switzerland for progress on the wider deal.

Euro rebounds as dollar dips ahead of Fed meetingREUTERS LONDON

The euro recovered nearly half a percent from recent lows on Monday as the dollar slipped, with traders reluctant to push the US currency much higher before the Federal Reserve’s policy meeting this week.

In quiet London trading, most currencies were little changed before key policy events in the United States and China.

Last week, the dollar enjoyed its best weekly per-formance since September, reaching an 18-month high. The euro weakened after the European Central Bank cut inflation and growth forecasts and struck a cautious tone about the outlook for the world economy.

The mood on Monday, however, was less positive for the dollar.

Speculators cut net long bets on the dollar last week from a near two-year high, according to Commodity Futures Trading Commission data.

The Fed begins its two-day policy meeting on Tuesday and is expected to raise rates for a fourth time in 2018. All eyes will be on signals about the pace of further tightening and the Fed’s sense of how the economy is holding up amid a US-China trade conflict and global

financial market volatility.“This week is all about the

Fed. There is a good chance we will have a further dip in euro/dollar given that they are going to hike and the market is only expecting two more in 2019,” said Christin Tuxen (pictrued), FX analyst at Danske Bank. Risk was tilted to the Fed sounding more hawkish than expected, she said.

The euro rose 0.4 percent on Monday, rising as high as $1.1354 even though EU statistics office Eurostat earlier lowered November’s inflation reading. The euro fell as low as $1.1270 last week.

The dollar index, which measures it against a basket of currencies, slipped 0.3 percent to 97.154, below last week’s 18-month high of 97.711.

Weaker-than-expected eco-nomic data from China and Europe last week sent investors towards the perceived safety of the dollar.

The European

Commission, the

EU’s executive arm,

proposed a six-month

extension of the

so-called equivalence

decision that allows

Swiss trading venues

to serve EU clients.

Former Goldman electronic trading head sees parallels in cryptoBLOOMBERG NEW YORK

It’s been a horrific year for crypto-currencies.

But that hasn’t stopped Greg Tusar, the former global head of electronic trading at Goldman Sachs Group Inc., from being excited about the space even as the digital-asset universe con-tinues to melt down.

“It feels like being at the early days of trading equities electron-ically,” said Tusar, who serves as chief technology officer and is a

co-founder of Tagomi Holdings. “It’s early stage, there’s a lot of opportunity to build great busi-nesses and have impact.”

Tagomi, which bills itself as the first live electronic brokerage offering prime services, has begun executing client trades. Tusar is working alongside co-founders Jennifer Campbell, who is serving as chief executive officer, and Marc Bhargava, the company’s president. The platform combines liquidity across different exchanges and offers more trade reporting and transparency to customers such

as hedge funds and high net-worth individuals, the trio said in an interview.

Crypto investors are currently saddled with many difficulties, including concerns over custody, struggles engaging with large exchanges and executing large orders, among other things, said Tusar, adding that there isn’t anyone who can help clients implement these strategies from beginning to end. Investors who want to place orders of $10 million for Bitcoin, for example, might be limited if no exchange is able to

handle the order.“The current environment is

challenging, for sure, but we think there’s a lot of longer-term demand for digital assets and helping clients understand the transformative impact of crypto and blockchain,’ he said.

Tusar spent 13 years at Goldman, leaving in 2013 after serving as global head of electronic trading. He spent years repre-senting Goldman at industry con-ferences and commenting pub-licly about regulatory proposals involving equity market structure

and was named partner in 2008.More recently, he’s worked as

head of client market making and execution at New York-based KCG Holdings Inc. and spent time as chief executive officer of Greywolf Consulting, according to his LinkedIn profile. The launch of trading by Tagomi Holdings comes amid a meltdown in the crypto-currency universe that has seen the largest tokens shed billions in market value after surging in 2017. Bitcoin, which traded near $20,000 just a year ago, has dropped more than 75 percent to

around $3,200 Monday. And some analysts are predicting it is likely to continue its downward trend and could fall as low as $1,500.

Cryptocurrencies have come under pressure from U.S. regu-lators who have increasingly cracked down on the space, with the Securities and Exchange Com-mission refusing to back a Bitcoin exchange-traded fund amid lin-gering price manipulation and sur-veillance concerns. The agency also fined two companies that hadn’t registered their initial coin offerings as securities.

Page 6: BUSINESS - The Peninsula · 18/12/2018  · 02 BUSINESS TUESDAY 18 DECEMBER 2018 10,489.04 -7.46 PTS 0.07% QSE FTSE100 DOW BRENT 6,773.24 −71.93 PTS 1.05% 23,554.44 −546.07PTS

06 TUESDAY 18 DECEMBER 2018CLASSIFIEDS

BEVERLY HILLS TOWER (WEST BAY): Fully furnished 1 ����������� ������������� ����������������������������������� ������� ����� �� ��������� ��!�"�#$� �%"&'#'"()� (��������*������+������������*����,���� ������������������������������� ��������-�� *�+� ���� ��������-�� ��������� *����� �����������������������..������*������+������.������������������!�"�#$�("�/'�"()�02����������*��������������+���������������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�:::2�;887 ��::<:�;2=>� �:::2�=?;<� �??;;�0>72� �::<7�;0;8����"%�'4)������+�������@����������������� REGENCY RESIDENCE (WEST BAY): Fully furnished 0����������)�0�%����-�������������������������������������� �������� ������� �� ������� ��� �� � �������� � � ������������ ��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��������-��*�+�������������-�����������*��������������������������A������ �� �����+�� ��!�"�#$� ("�/'�"()� 02� ������ (������+�������������������������3!��%!�"� '&3!�%�#'!&��4"�("���44)�567829�:::2�;887� �:::0�?=2;� �::<7�:7:?� �::<7�;2?0� �::<7�;0;8����"%�'4)������+�������@����������������� REGENCY RESIDENCE (WEST BAY): Fully furnished 1 �������� ��� ��������� ������ �������� ������� �� ������� ��� ���������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� (��������*������+�����������-��*�+�������������-�����������*��������������������������A�������� �����+����!�"�#$�("�/'�"()�02�(������+�������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�:::2�;887� ::<7�<070� �??;;�=>07� �::<:�;2=>����"%�'4)������+�������@�������������������REGENCY RESIDENCE (WEST BAY): Fully furnished 0����������)�0�%����-�������������������������������������� �������� ������� �� ������� ��� �� � �������� � � ������������ ��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��������-��*�+�������������-�����������*��������������������������A������ �� �����+�� ��!�"�#$� ("�/'�"()� 02� ������ (������+�������������������������3!��%!�"� '&3!�%�#'!&��4"�("���44)�567829�:::2�;887� �:::0�?=2;� �::<7�:7:?� �::<7�;2?0����"%�'4)������+�������@����������������� BEVERLY HILLS TOWER (WEST BAY): Fully furnished >������������ ������������� ���>����������������� �����������-�� ����� � � ������� ��������� ������� �� ������� ����� �������� �� ��!�"�#$� �%"&'#'"()� (�������� *����� �+����������� �*� ��� ,��� ����� ��������� ������� ������ ����������������-�� *�+� ���� ��������-�� ��������� *����� ���� ����������� ������ ��..��� ���*�� ����+� ������ .��� ���� �� ���������!�"�#$� ("�/'�"()� 02� (������+�� ����������� 4������������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�:::2;887 �::<7�;2?0� �??;;�2?>?� :::=�08>2����"%�'4)������+�������@����������������� REGENCY PEARL 3 (THE PEARL):� (���� .��������� ������������� ��*��B� ����� ������� ��� ����� ���� ������ ��� /����C���+�(��������*������+���������������������D��*�+����3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20 �::<8� <=7>� � � ::<7� <070� � ??;;� =>07� � >>07� 2>0=� ��� "%�'4)������@�����������������REGENCY PEARL 3 (THE PEARL):� (���� .��������� ������������� ��*��B� ����� ������� ��� ����� ���� ������ ��� /����C���+�(��������*������+���������������������D��*�+����3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20 �::<8� <=7>� � � ::<7� <070� � ??;;� =>07� � >>07� 2>0=� ��� "%�'4)������@�����������������REGENCY PEARL 3 (THE PEARL):� (���� .��������������������� *������� ��� ����� ���� ������ ��� /���� C���+� ( *����� �+��� ����� ��� ����� �� ���D�� *�+� ��� 3!�� %!�"�'&3!�%�#'!&����44)�567829�8;02�??20 �::<8�<=7> �::<7�<070 �??;;�=>07� �>>07�2>0=����"%�'4)������@����������������������+�������@�����������������REGENCY PEARL 3 (THE PEARL):� (���� .��������������������� *������� ��� ����� ���� ������ ��� /���� C���+� ( *����� �+��� ����� ��� ����� �� ���D�� *�+� ��� 3!�� %!�"�'&3!�%�#'!&� ��44)� 8;02??20 ::<8� <=7> � ::<7� <070 ??;;�=>07 >>07� 2>0=� ��� "%�'4)� �����@����������������������+�������@�����������������REGENCY PEARL 1 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������E��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�5678298;02�??20 �::<8�<=7>�� �::<7�<070� �??;;�=>07����"%�'4)����*���=�������@�����������������REGENCY PEARL 2 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������E��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�8;02�??20� �::<7<070� �??;;�=>07� �::<:�;2=>����"%�'4)����*����������@�����������������REGENCY PEARL 1 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������E��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)� 567829�::<8�<=7>� � �::<7�<070� �??;;�=>07����"%�'4)����*����������@�����������������REGENCY PEARL 2 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������E��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�8;02�??20 �::<7<070� �??;;�=>07� �::<:�;2=>����"%�'4)����*����������@�����������������

REGENCY PEARL 2 (THE PEARL): Fully furnished 1 C���������������������������������������������� ��������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������E��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�8;02�??20� �::<7�<070� �??;;�=>07� �::<:�;2=>����"%�'4)����*���=�������@�����������������REGENCY PEARL 1 (THE PEARL): Fully furnished 1 �������� ��� ��������� ������ �������� ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()�02� ������ E��*� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20 � ::<8� <=7> �::<7� <070� � :::2� =?;<� � ::<:� ;2=>� ��� "%�'4)� � ���*���=�������@�����������������REGENCY PEARL 1 (THE PEARL): Fully furnished 1 �������� ��� ��������� ������ �������� ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()�02� ������ E��*� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20 � ::<8� <=7>� � ::<7� <070� � :::2� =?;<� � :::0� ?=2;� ��� "%�'4)� � ���*���=�������@�����������������REGENCY PEARL 2 (THE PEARL): Fully furnished 1 C���������������������������������������������� ��������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������E��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�8;02�??20� �::<7�<070� �??;;�=>07� �::<:�;2=>����"%�'4)����*���=�������@�����������������REGENCY PEARL 1 (THE PEARL): Fully furnished =� �������� 6� �.G���� ��������� ������ �������� � ������� �� ����������� �������� � � ����������� ��-��� ��!�"�#$� �%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+�� ���������� �� ���������� �� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::<8�<=7>� �::<7�<070� � ??;;� 0>72� � ??;;� 0>:?� ��� "%�'4)� ���*���=�������@����������������� REGENCY PEARL 2 (THE PEARL): Fully furnished 0� ���������� ��������� ������ �������� � ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()�02� ������ �������+�� ���������� �� ���������� �� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20� � ::<7�<070� � ??;;� 0>72� � ??;;� 0>:?� ��� "%�'4)� ���*����������@����������������� UMM BAB TOWER (WESTBAY):� 3���+� .��������� 0� ���������0� %����-�� �������� ����� ������� ��������� ������ ����������������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()� '��������������� *����� .���+� �H��**��� �+��� �����+�� ��������D��*�+������� �� �������� *������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>072>0=� �:::0�?=2;� �::<7�:7:?� �::<7�;2?0����"%�'4)������+�������@����������������� VIVA BAHRIYA TOWER 4 (THE PEARL-QATAR):� (����3��������� !���� #��� ��� #����� C������� �*�������� �����!��� %����� 3���� �� 3���� ,��� ������ (*����� ����� �������������� ��������� ��!�"�#$� �%"&'#'"()� (��������������I+���J��-����+�������K������C������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�6782�::<=�<80<����"%�'4)���@����������������� UMM BAB TOWER (WESTBAY):� 3���+� .��������� >��������� 6� ���-� ����� � � L�����)� >� %����-�� �������� �������������������������������������������� ����������������������!�"�#$��%"&'#'"()� '���������������*����� .���+��H��**����+��� �����+����������D��*�+�����������������*�������3!��%!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� >>072>0= � ??;;�2?>?� � :::=� 08>2� ::<7� <070� ��� "%�'4)� �����+�������@�����������������

VILLA DESTE 2 (AL WAAB):�(����.���������>�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0=8=>� �:::=�08>2� ::<7�<070� �??;;�=>07����"%�'4)�����������@����������������� VILLA DESTE 2 (AL WAAB):�(����.���������>�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0=8=>� �:::=�08>2� ::<7�<070� �??;;�=>07� �::<7�;0;8����"%�'4)�����������@������������������ BEVERLY HILLS GARDEN 10 (Al WAAB):� (����.��������� 2� �������� ����)� >� ��������� ������ �������� �����+������� ������� �� ������� ���� �������� � � �*���� ��-��� ��!�"�#$��%"&'#'"()� (�������� *����� C�������� ��������-�� *�+� ����I+�������� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �::<7�;0;8���"%�'4)�����������@����������������� AIN KHALID GATE:� 3���+� .��������� 2� �������� ����� ����� 0�%����-���������������������������������������������������������������-�������������+�������0������������������������� �������� � � ����������� ��-��� ���+��� ��� �� *��������������� *����� ��!�"�#$� �%"&'#'"()� (�������� ��������������� A������� ������� I+��� ������� A������� ���� ����������� ������ �������� ������� ������� ������� �H���� ���������H������*��������������+����*��������+����������������������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� ::?=�870?� �::<:�:08=� � � ::<7�:7:?� � � ::<7�;2?0� ���� "%�'4)� ��������������@�������������������

BEVERLY HILLS GARDEN 2 (AL WAAB):� (����.���������2��������������)�0�%����-��C����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� ���������� ������� ������ ��������� ������ ��� *��� ��� ���+������!�"�#$� �%"&'#'"()� (�������� *����� �+��� �������� ����������������������������������������������-��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �??;;2?>?����"%�'4)�����������@����������������� BEVERLY HILLS GARDEN 1 (AL WAAB):� (����.���������2��������������)�0�%����-��C����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� ���������� ������� ������ ��������� ������ ��� *��� ��� ���+������!�"�#$� �%"&'#'"()� (�������� *����� �+��� �������� ����������������������������������������������-��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �??;;2?>?����"%�'4)�����������@����������������� BEVERLY HILLS GARDEN 13 (AL WAAB):� (����.���������2��������������)�0�%����-��C����������������������������.���+���������������������������� �����������-������� ����� ��������� ������� ��� ������� ������ .���+� �H��**����������������!�"�#$��%"&'#'"()�(��������*�����.���+��H��**����+����������.���������������������.���������������������!�"�#$�("�/'�"()�02��������������+��������������3!�� %!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>>2>�>=?<� �::<:�;2=>� �:::2�=?;<� �??;;2?>?� �::<7�;0;8����"%�'4)�����������@����������������� Q BEL AIR COMPOUND (LAQTAH):�(����.���������:�C������� ����)� 0� %����-�� �������� ����� ������� ��������������� ��������� ������� �������� �� ������ �������� ��!�"�#$��%"&'#'"()� (�������� *����� �+��� ������� ������� �������� �������*��*���� ����� � 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)�567829�>>07�2>0=� �??;;�0>:?� �:::0�?=2;� �::<7�:7:?� �::<7�;0;8����"%�'4)�����������@�����������������

Q BEL AIR COMPOUND (LAQTAH):�(����.���������:�C������� ����)� 0� %����-�� �������� ����� ������� ��������������� ��������� ������� �������� �� ������ �������� ��!�"�#$��%"&'#'"()� (�������� *����� �+��� ������� ������� �������� �������*��*���� ����� � 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)�567829� >>07� 2>0=� � ??;;� 0>:?� � :::0� ?=2;� � ::<7� :7:?� � ���"%�'4)�����������@�����������������

AIN KHALID COMPOUND (AIN KHALID): Fully .��������� =� �������� �)� �������� ������� �� ������� ��� �������������!�"�#$��%"&'#'"()�(��������*������+���������������*�������� �� ���-�� *�+� ���� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>2>�>=?<� �::<:�;2=>� �:::2�=?;<� �??;;�0>72����"%�'4)����������@�����������������

AIN KHALID COMPOUND (AIN KHALID): Fully .��������� 0� �������� �)� 0� �������� ������� �� ������� ����� ��������� ��!�"�#$� �%"&'#'"()� (�������� *����� �+������������� ��*�������� �� ���-�� *�+� ���� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�??;;�0>:?� �:::0�?=2;� �::<7�:7:?����"%�'4)����������@�����������������

REGENCY RESIDENCE AL SADD 1 (AL SADD): Fully .��������� =� �������� �)� %����-�� �������� ����� ���������������� ������ �������� ������� �� ������� ��� �� �������� � ������������� �����!�"�#$��%"&'#'"()�(��������������I+���(��� ������ A��������(���� ��������!�"�#$�("�/'�"()�02������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� � � ??;;� =>07� � >>77� 20??� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 3 (AL SADD): 3���+�.���������>M���������)�%����-��������������������������� �������� ������� �� ������� ��� �� �������� � � ������������ ��� ��!�"�#$� �%"&'#'"()� 3���+� "H��**��� I+���� ��!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� �::<:�;2=>� �:::2�=?;<� �??;;�0>72� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE ALSADD 3 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ��������������������������������������������� ��������������������� �������� � � ������������ ��� ��!�"�#$�("�/'�"()� 02�E������������+��������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� ??;;�0>:?� �:::0�?=2;� �::<7�:7:?� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 10 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ���������������� ������ ��������� ������ �������� ������� ��� ���������� �������� ����� ������������ ��� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� ??;;� 0>:?� � :::0� ?=2;� �::<7� :7:?� ��� "%�'4)� �����������@������������������������������@����������������� REGENCY RESIDENCE AL SADD 12 (AL SADD): Fully .��������� =� �������� �)�� ��������� ������� �� ������� ��� ���������� � � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �H��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?�� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@�����������������

REGENCY RESIDENCE AL SADD 12 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �H��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>=;�0?2?� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 13 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � � ����������� � ��� ��!�"�#$� ("�/'�"()� 02� �������������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>=;�0?2?� �??;;�0>72� �::<7;0;8� �:::0�?=2; �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE MUSHEIREB 1 (MUSHEIREB): 3���+�.���������=������������������������������������������ �������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� '������(��������������I+���(�����������������A�������C����������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::8;�=802� �::7>�?8:<� �>>77�20??� �::<7�:7:?����"%�'4)�����������������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): 3���+�.���������=������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������I+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �??;;�2?>?� �:::=�08>2����"%�'4)�����������@������������������REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): (����.���������0������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������I+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<7�<070� �??;;�=>07����"%�'4)�����������@����������������� REGENCY RESIDENCE AIRPORT 2 (DOHA AREA): (���� .��������� 0� �������� ��� ��������� ������� �� ��������������������� ��*����� �����!�"�#$��%"&'#'"()�(��������*����� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<:�;2=>� �>>2>�>=?<����"%�'4)�����������@����������������� 63 OLD SALATA (OLD SALATA):�3���+�.�����������������+*�� ��� �������� �� �������� � � ����������� � ��� ��!�"�#$��%"&'#'"()� I+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� ��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:?�8=:?� �>;>7�:0<8� �:::0�?=2;� �>>2>�>=?<����"%�'4)�����������@����������������� BIN DIRHAM 1 (MANSOURA):� N�.��������� 0����������)������������������������������������������������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� � >;>7� :0<8� �>>:?�8=:?� �??;;�0>72� �??;;�0>:?����"%�'4)�������������@����������������� BIN DIRHAM 5 (MANSOURA):� N�.��������� 0����������)������������������������������������������������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�>;>7�:0<8� �>>:?�8=:?� � :::0� ?=2;� � ::<7� :7:?� ��� "%�'4)� ������������@����������������� 18 FLATS (AL WAKRA):� =<� N�.��������� ���� �*������������ ��.��� ������� ��� �������� *������� 0� .���� ������������ 02� ������ ���������� 5�L��� ���������� ��� ��9� 3!��%!�"� '&3!�%�#'!&���44)� 567829�>;>7�:0<8� �>>:?�8=:?� �>>2>�>=?<����"%�'4)�������������@����������������� DOHA GARDENS (AL WAAB):�3���+�.���������>����������)�%�����C�������������������������������������������������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>=;�0?2?� �??;;�=>07� �::<:�;2=>� �:::2�=?;<����"%�'4)������������@������������������

BRAND NEW RESIDENTIAL BUILDING (WAKRA): N�.��������� =:� N����� �.� 0� �������� ��)� ��������� �������������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>;>7�:0<8�����"%�'4)�������������@������������������

AL ASMAKH TOWER (WESTBAY):� C���� &��� !.G���#����� � � ����������� � �)� ���� �� .����� ������� *��� ������ *���+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829�>>;>88><����"%�'4)����+����@������������������

REGENCY BUSINESS CENTER 3 (GRAND HAMAD STREET): ���������� !.G��� (*��� � � ����������� � ������������*���+�� ������������������� �������+��������#/���(*��������G����.��+��+������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829� >;>7� :0<8� � >>:?� 8=:?� � :::2� =?;<� ��� "%�'4)�����������@������������������

SALWA ROAD OFFICES:� %�������� 6� =��� 3����)� =0�!.G����� 4������ ���� =?2� ��� =72� �H�� �� 0� ������� (����� ����!.G���� 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� ::<7�;0;8�����"%�'4)���������@����������������� OFFICE COMMERCIAL BUILDING:� ���������� !.G���(*���� �C��������I������6�0�3�������==2��������(������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::<7�;0;8� �222<�:===� �2;2=�;80:����"%�'4)� ��������@�����������������

AL ASMAKH LISTINGSCALL CENTER: 4448 5111 / 4041 0757

We also offer our RICS regulated International valuation serviceVALUATIONS & RESEARCH [email protected]

Email : info@alasmakhrealestate/com Website: www.alasmakhrealestate.com

TOWERS

COMPOUND APARTMENT

ONE COMPANY DEAL

COMPOUND

OFFICE & SHOWROOM

BUILDING APARTMENT