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BUSINESS Sunday 2 December 2018 PAGE | 02 PAGE | 04 India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s latest reports, the QFC Authority CEO said Qatar’s GDP is projected to grow by 2.4 percent in 2018. That comes alongside the 2018 United Nations report that noted a 27 percent increase in FDI inflows to Qatar between 2016 and 2017. These figures are undeniable proof of Qatar’s economic strength and why it is certainly one of the world’s most dynamic economies. Qatar reaffirms its economic resilience in 2018: Al Jaida SATISH KANADY THE PENINSULA Developing a strong business hub for QFC firms is crucial for QFC Authority. It not only creates an invaluable sense of community but a solid network which is fundamental to taking business to newer heights, Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority, said. Addressing QFC’s 17th business and networking event and the inaugural Qatar Business Awards, Yousuf Al Jaida said the year 2018 has seen Qatar reaffirming its eco- nomic resilience repeatedly. Across all industries, local and international indicators point to Qatar’s remarkable sta- bility, and to its impressive pro- jected development. Citing IMF’s latest reports, the QFC Authority CEO said Qatar’s GDP is projected to grow by 2.4 percent in 2018. That comes alongside the 2018 United Nations report that noted a 27 percent increase in FDI inflows to Qatar between 2016 and 2017. These figures are undeniable proof of Qatar’s economic strength and why it is certainly one of the world’s most dynamic economies. “The QFC mirrors this and continues to grow strongly year on year…we are very proud to say that we now have over 570 firms regis- tered at the QFC… Supporting you has always been and will continue to be our priority. It is for this reason that we have launched the first edition of our annual awards this evening,” Yousuf Al Jaida said. “At the QFC, we pride our- selves on the versatility and growth of our clients which have all left a considerable mark on the industry.. Progress manifests itself in multiple ways and this is why our awards reflect what the QFC values the most — innovation, growth, and our customers,” he added. The inaugural Qatar Business Awards celebrated and recog- nised QFC licensed firms for their achievement across five distinct categories. P22 Joseph Abraham (centre), Group Chief Executive Officer, Commercial Bank; with Yousuf Mohamed Al Jaida (right), Chief Executive Officer, QFC Authority; and Hamed Al Saadi, Chief Financial and Tax Officer, QFC Authority, during the award ceremony at Four Seasons Hotel, Doha.

BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

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Page 1: BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

BUSINESSSunday 2 December 2018

PAGE | 02 PAGE | 04India’s Research

Foundation confers doctorate degree on

Dr. R Seetharaman

‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar

Citing IMF’s latest reports, the QFC Authority

CEO said Qatar’s GDP is projected to grow by

2.4 percent in 2018. That comes alongside

the 2018 United Nations report that noted a

27 percent increase in FDI inflows to Qatar

between 2016 and 2017. These figures are

undeniable proof of Qatar’s economic strength

and why it is certainly one of the world’s most

dynamic economies.

Qatar reaffirms its economic resilience in 2018: Al JaidaSATISH KANADY THE PENINSULA

Developing a strong business hub for QFC firms is crucial for QFC Authority. It not only creates an invaluable sense of community but a solid network which is fundamental to taking business to newer heights, Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority, said.

Addressing QFC’s 17th business and networking event and the inaugural Qatar Business Awards, Yousuf Al Jaida said the year 2018 has seen Qatar reaffirming its eco-nomic resilience repeatedly.

Across all industries, local and international indicators point to Qatar’s remarkable sta-bility, and to its impressive pro-jected development.

Citing IMF’s latest reports, the QFC Authority CEO said Qatar’s GDP is projected to grow by 2.4 percent in 2018. That comes alongside the 2018 United

Nations report that noted a 27 percent increase in FDI inflows to Qatar between 2016 and 2017. These figures are undeniable proof of Qatar’s economic strength and why it is certainly one of the world’s most dynamic economies.

“The QFC mirrors this and continues to grow strongly year on year…we are very proud to say that we now have over 570 firms regis-tered at the QFC… Supporting you has always been and will continue to be our priority. It is for this reason that we have launched the first edition of

our annual awards this evening,” Yousuf Al Jaida said.

“At the QFC, we pride our-selves on the versatility and growth of our clients which have all left a considerable mark on the industry.. Progress manifests itself in multiple ways and this is why our awards reflect what the QFC values the most — innovation, growth, and our customers,” he added.

The inaugural Qatar Business Awards celebrated and recog-nised QFC licensed firms for their achievement across five distinct categories. �P22

Joseph Abraham (centre), Group Chief Executive Officer, Commercial Bank; with Yousuf Mohamed Al Jaida (right), Chief Executive Officer, QFC Authority; and Hamed Al Saadi, Chief Financial and Tax Officer, QFC Authority, during the award ceremony at Four Seasons Hotel, Doha.

Page 2: BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

02 SUNDAY 2 DECEMBER 2018BUSINESS

The Made at Home

exhibition represented

an ideal platform to

help home-based

businesses achieve

greater growth

and showcase their

capabilities.

QFC Authority Chief Executive Officer Yousuf Mohamed Al Jaida (third right) with winners of inaugural Qatar Business Awards.

QDB’s ‘Made at Home’ expo attracts over 11,900 visitors, QR2.15m salesTHE PENINSULA DOHA

Qatar Development Bank’s (QDB) second edition of its ‘Made at Home’ exhibition, which took place at the Doha Exhibition and Convention Center (DECC) from October 14 to 20,witnessed participation of different social groups within the society and attracted a total of 11,916 visitors.

The seven-day expo was held under the patronage of H E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani, Chair-person of Qatar Museums, in col-laboration with Qatar Chamber, NAMA Center and the Ministry of Administrative Development Labour & Social Affairs, and sponsored by Ooredoo.

The Made at Home exhi-bition represented an ideal platform to help home-based businesses achieve greater growth and showcase their capabilities. The exhibition also featured 185 exhibitors from 5 different sectors: Crafts, fashion, food and perfumes. Service pro-viders were also included in this year’s edition, such as printing, design and logistics.

The exhibition also gen-erated sales of QR2.15m, with booth rents ranging from QR3,000 to QR5,000 compared to an average of QR15,000 at other exhibitions in Qatar.

Noor Ali, one of the

participants in the exhibition and the owner of (Noor Stationary) project, said: “It is very con-venient to gather all the home-based businesses in one exhi-bition to showcase their products. We have been able to establish close relationships and fruitful cooperation with other entrepreneurs, as well as exchange experiences.

“I would like to thank all those who participated in the success of this edition of the exhibition, which exceeded my expectations in terms of organ-ization, and making available the service providers of printing, marketing and delivery, in addition to providing a huge resting area for visitors, which enabled them to stay longer and have enough time to inquire about other products.

“This resulted in an increase in our sales. I would also like to extend my gratitude to all the media representatives from dif-ferent esteemed publications who have contributed in raising awareness about our products.”

Aysha Al Kubaisi, another participant in the exhibition and the owner of (Sister’s Cake) project, said: “This is our first participation in Made at Home exhibition, I would like to thank QDB for giving us this oppor-tunity, and to all the organizers for their attention to detail and providing us the services we needed the most such as the printing, marketing and delivery by specialized people.

“The sales rate was also very high, and there was close coop-eration with other projects to meet the needs of the visitors. I would also like to mention the remarkable presence of both print and social media professionals

who have significantly con-tributed to the success of the exhibition.”

Sita Rashed, yet another par-ticipant and the owner of (Dar Oudi Perfumes) project, said: “Thanks to QDB, the first and second edition of Made at Home exhibition were well organized and was a huge success with good visitor turnout. Besides, the remarkable media presence during the exhibition contributed greatly in creating awareness among the public about our products, and resulted in an increase in our sales. I wish QDB team success in all their future endeavours in supporting home-based businesses.”

Top honour for MilahaTHE PENINSULA DOHA

Milaha, a Qatar-based maritime transport and logistics con-glomerate, has won the pres-tigious “Sword of Honour” from the British Safety Council which is awarded to companies that have demonstrated excellence in the management of health and safety risks at work. Milaha was one of 61 organisations worldwide that achieved a Sword of Honour.

Prior to competing for the Sword of Honour, Milaha had achieved the maximum five stars in the British Safety Council’s health and safety management audit in the period between August 2017 and July 2018.

During the audit, Milaha exhibited to an independent panel of experts its practices in the health and safety management throughout its operations.

Milaha President and CEO Abdulrahman Essa Al Mannai said: “We are truly proud to have been awarded the coveted Sword of Honour, which is a testament to our unrelenting

commitment to the continuous improvement of our health and safety management systems. At Milaha, we believe that each and every employee’s safety and health is of paramount importance to us. We are glad our efforts are being recog-nized, and we look forward to future collaborations with our partners at the British Safety Council.”

Lawrence Waterman, Chairman of the British Safety Council, said: “On behalf of the board of trustees and staff of the British Safety Council I would like to congratulate Milaha on achieving the very highest standards of health and safety management. Excellence at this level is very hard won, and we are proud to have supported them in their achievements.”

The 2018 awards mark the 39th consecutive year that the British Safety Council has awarded the Sword of Honour for health and safety management excel-lence and the seventh year of awarding the Globe of Honour for excellence in environmental management.

Qatar reaffirms its economic resilience in 2018: Al JaidaFROM BUSINESS PAGE 1

This year’s award winners included Mitsubishi Hitachi, for New Business of the Year; CB Innovation Services, for Customer Excellence; Thomson Reuters, for the Most Innovative award; Bank of China Qatar, for the Best Performing Company and the Spanish Business Council, for the Best Non-for-Profit award.

In addition, Amwal received a Special Recognition award and the Commercial Bank was named Best Partner of the Year.

Speakers at the event included Vikas Jain, Head of Financial Institutions, MENA, Thomson Reuters, Clark Wil-liams, Director of Marketing, Msheireb Properties, and Aisha Al-Sinani, Director, Direct Services, Mada.

Joseph Abraham, Group Chief Executive Officer, Commercial Bank, said: “We are pleased to sponsor the Qatar Financial Centre’s Qatar Business Awards 2018, as it is a val-uable initiative that recognises and rewards businesses for their achieve-ments in Qatar. Commercial Bank has a long history of support for the Qatar Financial Centre, which plays an important role in Qatar’s

economic development. This support continues today through our spon-sorship of these awards.”

Lin Shengqiang, President, Bank of China Qatar, said: “Bank of China QFC Branch joined Qatar Financial Centre one year ago, but its achievements are great. As a QFC firm, it is a huge honour to be a sponsor of such a spectacular event. In the future,

“Bank of China QFC Branch will support the development of local enter-prises and promote the local usage of RMB actively, also seek to become the preferred bank of Chinese companies and local business community, leading RMB business bank and bridge linking China and Qatar market.”

Bassam Hajhamad, PwC Qatar Country Senior Partner said: “PwC is delighted to collaborate with QFC and proud to have been shortlisted for the QFC Business Awards. Our reputation lies in building lasting relationships with our clients and focus on delivering value in what we do.”

Ahmed Hafez, Head of Thomson Reuters, Qatar, said: “We are very pleased of the cooperation and support we receive from QFC whom we con-sider as one of our major strategic partners and the right platform to do

business in Qatar. We look forward to more collaboration and business in the future as both of us grow.”

The Qatar Business Awards will be held annually to recognise the achieve-ments of firms registered on the QFC

platform as well as inspire businesses to continue to set new standards of excellence.

India’s Research Foundation confers doctorate degree on Dr. R SeetharamanTHE PENINSULA DOHA

The 5th Convocation “Dikshant Samaroh” was hosted by Sri Sharda Institute of Indian Man-agement-Research Foundation (Sri SIIM Foundation) on Friday at India’s capital city New Delhi. Dr. R Seetharaman, CEO of Doha Bank was the Guest of Honor at this function.

At this function he was con-ferred “Honor of the Doctoral Fellowship” for his outstanding contribution to global economics, international banking vis-à-vis in recognition of his thesis paper “Economic Implications of Global Citizenship”.

On accepting the doctoral fellowship he thanked the Board of SRI SIIM Foundation. He said “I am proud to be a part of this esteemed academic family, and in becoming a permanent part of this University and this global network of friends. India is one of the oldest civilizations and has a rich and varied heritage. India

is the land of spiritual bliss, splashed by the waters of holy rivers.

“India is the largest democracy and is committed to tolerance, harmony, equality, justice, and the rule of law. India

is land of unity in diversity. It has different languages, customs, art and culture. On account of this Indian culture has also tran-scended borders in the form of dance, literature, food, music, festival or cinema Indian

festivals are celebrated globally,” he said.

The Indian Culture has brought Global Indian Com-munity closer. Indian youth empowers by participating in various cultural programs. India

today is poised for a giant leap from the ranks of developing countries to developed countries. Our eco-nomic growth is robust and we boast of a very high percentage of youth population among the nations of the world , Dr Seetharaman added.

It is clear that with Internet access and participation in social networking sites, the social being in the age of globalization, is no longer limited by locality; it has become a global existence. Social media enables students to find them-

selves in an interconnected world, it is important “to rec-ognize the fundamental inter-connections among disparate people, places, and process, and the ways in which these influence and constrain even

apparently local and individual choices. It is estimated at 1 percent of the world’s popu-lation carries two or more pass-ports and hence Global Citizens can also be dual citizens”.

“The main advantage of traveling with two passports is to travel in a wider range of countries. Countries such as Singapore and South Korea encourage dual citizenship up to some age.”

Dr. R Seetharaman is a recipient of six doctorates from leading universities in the world, including Ph.D. in Global Governance by European Uni-versity, Ph.D. in Green Banking and Sustainability from Sri Sri University and Sri Sharda Institute of Indian Management (SRISIIM) is the third Ph.D.

Dr. R Seetharaman, CEO of Doha Bank, with “Honor of the Doctoral Fellowship”.

Dr. R Seetharaman

is a recipient of six

doctorates from

leading universities

in the world.

10,364.54

+34.93 PTS

0.34%

QSE FTSE100 DOW BRENT6,994.45

−44.50 PTS

0.63%

25,338.84

+0.00 PTS

0.00% Dow & Brent before going to press

$51.22

-0.22

MarketWatch

Page 3: BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

03SUNDAY 2 DECEMBER 2018 BUSINESS

QNB’s weekly ‘economic commentary’, which

delved into each of these cases, noted that

BI’s actions are designed to support the

currency while reducing the country’s external

vulnerabilities. On the contrary, the BSP’s

actions are designed primarily to prevent

overheating and anchor inflation expectations.

Monetary tightening in Indonesia and Philippines: QNBTHE PENINSULA DOHA

Monetary authorities in Indo-nesia and the Philippines have recently led some of the most aggressive policy tightenings in emerging Asia. In fact, Bank Indonesia (BI) and Bangko Sentral ng Pilipinas (BSP) have lifted their policy rates by 175 basis points (bps) since May 2018. While the pace and magnitude of rate hikes make the tightening cycles in both Indonesia and the Philippines look similar, the drivers for policy actions have been different.

QNB’s weekly ‘economic commentary’, which delved into each of these cases, noted that BI’s actions are designed to support the currency while reducing the country’s external vulnerabilities.

Importantly, there is no sign of domestic capacity constraints as GDP growth is below potential and inflation is running within the central bank 2.5 – 4.5 percent target. Macroeconomic imbal-ances in Indonesia are rather manifested on the external sector. Higher spendings than incomes in the non-financial corporate and government sectors have been producing persistent current account def-icits since 2011. The deficit has

widened recently from 0.9 percent of GDP in Q4 2016 to 3.4 percent in Q3 2018.

Moreover, the external stock balance is negative. The net international investment position (NIIP) of the country, which reflects the stocks of foreign assets and liabilities of residents, reads a negative $306bn or 30.0 percent of GDP. This means that Indonesians are in aggregate net debtors to the rest of the world. Net foreign liabilities are concen-trated in non-financial corpora-tions and the government. Cru-cially for FX, there is a substantial amount of long-term portfolio debt liabilities to non-residents denominated in local currency.

Given all of the above, Indo-nesia is particularly sensitive to non-resident portfolio capital flows. As the US Federal Reserve stays on course for monetary policy normalization and US bond yields rise, the BI has to follow through or even anticipate hikes to maintain or increase the interest

rate differential, i.e., the difference between domestic rates or yields and other benchmarks such as US Treasuries. This is what is behind BI governor Perry Warjiyo’s ‘preemptive, front-loaded and ahead of the curve’ approach. Higher yields should favour domestic assets and thus prevent or limit capital outflows.

Policy actions have so far boosted BI’s credibility and the Indonesian Rupiah (IDR) has rebounded in recent weeks. While the IDR is still down 6.8 percent against the USD year-to-date (YTD), it has appreciated 4.9 percent since late October. Additional hikes are expected and will follow the evolution of the US monetary policy and risk sentiment. The current account gap is not expected to narrow substantially before H2 2019, as imports are currently sticky and exports are negatively affected by lower commodity prices and softer Asian growth.

In the Philippines, on the

contrary, the BSP’s actions are designed primarily to prevent overheating and anchor inflation expectations. Macroeconomic imbalances in the Philippines are indeed mostly manifested inter-nally. Over the last years the GDP has been growing above potential, which creates capacity constraints and inflationary pressures. Both unemployment and manufacturing spare capacity are close to all time record lows at respectively 5.4 percent and 15.8 percent.

Headline CPI inflation has reached a nine-year high of 6.7 percent y/y in recent months, considerably above the central

bank 2 – 4 percent target. Core CPI inflation, which excludes food and energy prices, is also high at 4.6% y/y. Rice, the staple food in the country and the second-largest item in the CPI basket with a weight of nearly 10 percent of total, has been the key culprit for high headline inflation.

Rice prices soared to 10.1 percent y/y in October from 1.4 percent early in the year as Super Typhoon Mangkhut devastated crops and created supply shortages.

The government is trying to ease the pain with emergency imports of rice, but prices are

likely to respond gradually to supply normalization over the coming months. A plethora of other exogenous and temporary factors, including oil prices and the impact of recent indirect tax hikes on high-sugar drinks, fuel, tobacco and beverage, also had their con-tribution. Minimum wage growth and transport rate hikes were an additional factor more recently.

BSP’s credibility has also been boosted after the recent hikes. Inflation is expected to come down towards the target next year, with the BSP fore-casting a 3.5 percent rate in 2019. The external environment is set to be supportive as oil prices have already started to go down substantially. The Philippine Peso has also rebounded by 3.4 percent in recent weeks, even if it is still 5.2 percent down YTD.

In short, strong monetary policy actions in Indonesia and the Philippines were important to increase central bank cred-ibility during a period of shocks. However, the root causes for action differed in both coun-tries. In Indonesia, the main objective is to tackle external imbalances and cover for current account deficits and foreign liabilities, while in the Philippines actions are tar-geting internal imbalances to curb inflationary pressures.

S’hail shipping expands its fleet and share capitalTHE PENINSULA DOHA

S’hail Shipping added its 5th Ship to its fleet of Dry Bulk Carriers. The Ship, “S’hail Al Wajbah” is a 2005 Japanese-built gearless bulk carrier of about 77,000 dwt. The Ship is registered with Min-istry of Transport and Commu-nications of the State of Qatar and will fly Qatari Flag, the company said in a statement.

After its establishment in December2016, the Company has been resilient and consist-ently growing despite the sudden economic blockade imposed on Qatar in June 2017. This young and dynamic Company is already now the largest Dry Bulk Carrier owning company in the State of Qatar. True to its mission, the Company now eyes to become the largest in the region.

On this occasion, Mohamed Khalifa Al-Sada, Chairman and Managing Director of the Company, said, “In our voyage to expansion, we are extremely

happy to get the support of Qatar Development Bank to finance our 5th acquisition. The support of QDB to the Company acknowl-edges the capabilities and strategic importance of the Company in the growing role of Qatar’s trade and commerce in global economy”.

Al-Sada thanked QDB team to jointly work with the Company and within a period of 1 year to ultimately conclude in developing the first ever workable Islamic financing model at QDB tailor-made for ship financing. “We believe this is a commendable achievement dedicated to both our Company and QDB for growth of shipping and maritime business,” Al Sada said.

He stated that the Company in its EGM of 30th October 2018 has decided to increase its share capital for purpose of acquiring at least two more ships in order to add to the successes the Company has been achieving since its inception iQNB’s weekly ‘economic commentary’, which delved into each of these cases,

noted that BI’s actions are designed to support the currency while reducing the country’s external vulnerabilities. On the contrary, the BSP’s actions are

designed primarily to prevent overheating and anchor inflation expectations. n Dec-2016. The new acquisition plan will com-mence from 2019 and will focus

on more modern, fuel-efficient ships. Pursuant to the EGM the Company is issuing new shares for subscription by its existing shareholders.

Hassan bin Mohammed Rafi Al-Emadi, Ambassador of Qatar to Japan; Abdullah bin Jassim Zeiara, the Embassy Second Secretary; Mohamed Khalifa Al Sada, Chairman and Managing Director of S’hail Shipping and Maritime Service; and Rajiv Pal, CEO S’hail Shipping, during the signing ceremony held in Tokyo for acquisition of S’hail Al Wajbah.

Skyline Automotive unveils all-new Hyundai Santa Fe at Mall of QatarTHE PENINSULA DOHA

Skyline Automotive, a Jaidah Group company and official distribution partner of the Hyundai Motor Company for Qatar, has launched the All-New Hyundai Santa Fe. The car was unveiled at the Mall of Qatar on November 30, 2018 to celebrate the reveal of the bold and ver-satile 2019 SUV.

The launch of the All-New Santa Fe marked another key milestone for Skyline Auto-motive, which allowed visitors to the Mall of Qatar an in-depth view into what the new family-friendly vehicle can offer cus-tomers. Other cars that were on display included the Hyundai Tuscon facelift and 2019 Creta Facelift, giving visitors a glimpse into the new modern Hyundai line-up. The growing line-up of smart and stylish vehicles is tes-tament to the brand’s emergence as a true leader in innovation and customer-centric vision.

Commenting on the arrival of the All-New Santa Fe, Johan Madarasz, Marketing and Public Relations Manager at Skyline

Automotive, said: “Everyone at Skyline Automotive is really proud to share this milestone directly with our customers in Qatar. The All-New Santa Fe is the perfect family car, providing a striking design, convenient space and innovative safety fea-tures to deliver convenience and peace of mind. It is also the perfect embodiment of the smart and stylish design vision Hyundai brand and products are ven-turing into in the coming years. The journey will continue and we will reveal the all-New SUV crossover KONA at the Annual Burger Festival 2018 to bring this excited moment directly to our customers in Qatar.”

The All-New Santa Fe was designed around the needs of the modern family and intuitively fits its every need. Its roomy interior

with increased legroom and space in the trunk is meant to offer comfort and stability on the road. The new vehicle also includes a One-Touch Folding feature, allowing passengers to fold the second-row seats quickly and easily. Furthermore, passengers can make use of a Walk-in Handle by gripping the rear seat handle on the inside of the car, making it easy to climb into the car.

Visually stunning, the All-New Santa Fe includes a wide cascading

chrome grille, Alloy or Dark Hyper silver wheels in the front and rear, as well as composite lights which give the car a high-tech appeal. The vehicle also features LED Daytime Running Lights (DRL), LED Headlamps and LED Fog Lamps. The convenient SUV even features a Roof Rack and LED Rear Combination and Fog Lamps, making it the perfect choice for a family car.

The Santa Fe is the first SUV with HTRAC technology, offering the driver an option of choosing

between different driving modes. The HTRAC all-wheel drive system automatically detects the speed and road conditions, allowing for smoother braking in the All-New SUV.

With safety being a core focus for all Hyundai vehicles, the Santa Fe includes a rear Occupant Alert and Safe Exit Assist, a first in its class. In addition, an Advanced High Strength Steel (AHSS) and a six-airbag System is embedded within. Customers can choose from two different engine options

available at Skyline Automotive, including the 2.4 MPi and the 3.5 V6 MPi petrol engines for a boost in performance.

Following the reveal in the Mall of Qatar, Skyline Auto-motive will take to the streets of Doha and meet customers as a sponsor of the upcoming Annual Burger Festival 2018 from 4-8 December. Visitors to Katara will have a chance to learn more about the All-New Hyundai Kona and meet members of the Skyline Automotive team.

Officials pose for a group picture at the ceremony.

QFMA announces unified listing rules for fundsQNA DOHA

The Qatar Financial Markets Authority has announced pre-senting unified listing rules for funds and a new gov-ernance code for funds listed on Qatar Stock Exchange for consultation to all concerned parties via its official website.

Nasser Ahmad Al Shaibi, the CEO of QFMA, said: “We continue to strengthen our reg-ulations to meet investors needs along with adopting the best international practices and their local needs in respect of investment funds and their governance. “The review of listing rules and governance code will provide a clear framework for local and inter-national fund management companies to be listed on QSE and encourage the devel-opment of asset management in Qatar,” he said.

Page 4: BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

04 SUNDAY 2 DECEMBER 2018BUSINESS

Qatar Chamber’s

first Vice Chairman

Mohamed bin

Ahmed bin Towar

called on Qatar and

Oman businessmen

to review ways of

establishing more

joint investments in

this sector as well

as SMEs in food,

agriculture and

medicine industries.

Euromoney Conference to focus on Qatar’s post blockade strategyTHE PENINSULA DOHA

Euromoney Conferences, the world’s leading organiser of events for capital markets and investment professionals, is set to return to Doha on December 9-10, 2018 offering a chance for companies and governments to connect with financial insti-tutions. The two-day conference will provide a vast and detailed overview on strategy and finances in a series of workshops, talks, inter-views and panel discussions.

This year’s Euromoney Qatar Con-ference in Doha will focus on Qatar’s post blockade strategy and its development as a sustainable economy. A line-up of senior government officials and financiers will discuss topics such as What will the next five year’s look like? What investment is required to get to 2022? What develop-ments and innovations have been achieved and what next? Co-hosted by the Qatar Central Bank, the event is the best place to get real time updates on Qatar’s economic and financial future.

Speakers at this year’s conference include, H E Ali Shareef Al Emadi, Min-ister of Finance, who will deliver a keynote interview, Abdulla Mubarak Al Khalifa, Acting Chief Executive Officer, QNB, Philippe Legrain, a critically acclaimed thinker and communicator with high-level policy experience, and

Joseph Abraham, the Group Chief Exec-utive Officer of Commercial Bank.

Says Victoria Behn, Director, Middle East and Africa, Euromoney Conferences: “Our events aim to identify and explain the latest trends in global financial markets on the one hand, but also act as impartial forums for the rigorous exchange of ideas, on the other. The con-ference agenda addresses the future of Qatar’s economy, the post-blockade strategy, the path to the World Cup 2022, and Qatar’s Vision 2030.

“Qatar’s economic future is of central importance to attendees and the indus-tries they work in. The future of oil/gas in conjunction with a diversifying modern economy through initiatives such as fintech, sustainability, and Vision 2030 have a direct impact on the business pros-pects and performance of the companies represented at the conference. This event is of the utmost importance for any Qatari business looking to grow and expand in an uncertain and rapidly changing eco-nomic environment, both globally and regionally. It is an opportunity to learn about Qatar’s place in the global financial system and new initiatives to enhance it.”

Leading sponsors of this year’s Euromoney Conference include Qatar National Bank, Commercial Bank, Qatar Development Bank, CFA Society, QFBA and QIIB.

Qatar’s non-oil export grows by 16.2%

THE PENINSULA DOHA

Qatar’s non-oil exports regis-tered strong growth during October 2018 with the combined value reaching at QR1.981bn, recording an increase of 16.2 percent year-on-year compared to QR1.705bn recorded for the corresponding month last year.

The monthly report of the Qatar Chamber on foreign trade for the private sector, prepared by the Department of Research, Studies and Management of Member Affairs said that 3213 certificates of origin were issued during last October, including 2,859 general model certificates, 153 unified certificates for the GCC countries (industrial), 178 unified Arab certificates of origin, 21 certificates of origin for pref-erences and 2 unified certificates of Singapore.

The report pointed to the trend of non-oil exports to 61 countries during October 2018

compared to (60) countries during September, with (12) Arab countries, including the Gulf Cooperation Council coun-tries and (14) European coun-tries including Turkey and (16) Asian countries except for the Arab countries and (14) African countries except for the Arab countries and four North and South American countries, as well as Australia.

According to the report, Oman topped the list of non-oil exporting countries in October 2018 with a total exports of QR819.418 m, rep-resenting (41.37 percent) of the total value of non-oil exports during the month, followed by Turkey with total exports of QR148.484 m (7.5 percent). In third place was UK with QR115.488m (5.83 percent) and Hong Kong QR109.716m (5.45 percent).

Netherlands ranked fifth with exports amounting to QR106.574m (5.38 percent) of the total value of non-oil exports in October 2018. Singapore, India,

China, Lebanon and Bangladesh came in different values and per-centages respectively, where the first ten countries accounted for 83.83 percent of total non-oil exports in the said month.

On the other hand, the GCC countries Oman and Kuwait topped the blocs and the economic groups receiving the Qatari non-oil exports during October 2018 with total exports amounting to about QR845.859m, then the group of Asian countries excluding Arab countries with exports worth about QR 488.966m.

The Group of European coun-tries including Turkey came in the third place with total exports amounting to QR426.367m , fol-lowed by the group of Arab coun-tries, excluding the GCC countries with total value of exports amounting to about QR 151.929m , followed by the African countries excluding Arab countries, North America, South American coun-tries and Australia with varying values.

‘Qatar Silk Road Exhibition 2019’ to participate in ‘Made in Qatar’ in Oman

THE PENINSULA DOHA

As part of the Marketing Cam-paign for the ‘Silk Road Exhibition’, which will take p l a c e f r o m November 3 to 5, 2019 at the Doha Exhibition Center, the Organizing Committee will be participating at ‘Made in Qatar’ Exhibition to be held in Oman from December 3 to 6, 2018.

Eizeldin Abdulrahman (pictured), Executive Manager of the exhibition and Al Sharq Media Management, said that the exhibition’s participation is part of the promotional cam-paign which aims as such to present the latest technologies in all types of shipping services & transport, port management of the participating countries, to provide a B2B platform opportunities between exhib-itors and direct interaction with several decision-makers of local authorities along with the visiting delegations of both public and private institutions.

Likewise, it goals to deliver an ideal structure for estab-lishing trade ties between the

participants and attract modern technology investments spe-cialized to the State of Qatar, while it will provide opportu-nities in building agreements and mutual-cooperation within Qatar and the participating countries in several areas.

The Organizing Committee initiated the invitation of the government and private sectors of several countries through its accredited embassies within Qatar to attract and exchange invest-ments, showcase its latest capabilities and modern tech-nology. In general, this event is a suitable meeting ground for all investors, manufacturers and decision makers under one roof, in concluding business transactions that is beneficial for both parties.

The Exhibition will showcase trends and services in

11 dedicated sectors, including Customs Authorities, Shipping and Transportation companies by Sea, Air and Land; Logistics Services companies, Port Con-struction and Development companies, Dry Dock (Ship-yards) Developers, Insurance Companies, Shipbuilders, Con-tainer Builders, Oil & Gas Tankers builders, Land Freight Trains, Port Management com-panies, Industrial and Com-mercial Products of countries within sea and air silk road, The number of participants are expected to reach up to 100 companies specialised in these areas. The marketing campaign will also highlight Qatar’s ability and potential in related services such as Hamad port, Air Cargo, Logistics, and Transport, pro-viding secure investment ground in all logistics services for investors.

‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin TowarTHE PENINSULA DOHA

The ‘Made in Qatar 2018’ exhi-bition scheduled to kick off tomorrow In Oman is expected to offer mega investment oppor-tunities in the industrial and production sectors, the Qatar Chamber’s first Vice Chairman Mohamed bin Ahmed bin Towar (pictured) said in a statement issued yesterday.

Towar noted that holding the expo in Oman comes as a result of the fruitful cooperation between Qatar and Oman. The expo will be held from December 3-6, on an area of 10000 sqm at the Oman Con-ference & Exhibition Center with the participation of 240 manu-facturing local companies.

Towar pointed out to the wise leadership’s interest in support for the industrial sector, affirming that tireless efforts are being made to eradicate all obstacles facing this sector in order to play its anticipated role in the national economy.

He said: “Qatari busi-nessmen recognise that industry becomes a strategic choice, especially the manufacturing industries which have witnessed great development recently. Industry is the backbone of any

developed and strong economy. It is a key pillar of the economic development because the indus-trial sector ensures an added value for the economy and ensure providing the local market of its needs as well as it creates jobs.”

He stressed the importance of increasing investments in pet-rochemical industries, noting that Qatar is a leading country in this sector as it owns the primary materials of oil and gas needed for this industry.

Towar called on Qatar and Oman businessmen to review ways of establishing more joint investments in this sector as well as SMEs in food, agriculture and medicine industries.

He referred to the incentives offered by Oman to encourage the investment in industry,

especially with the provision of new ports and the developed infrastructure, noting that the “Made in Qatar” in Muscat will offer a good opportunity for Qatari and Omani manufac-turers to set up alliances and partnerships in this sector.

He noted that the Qatar-Oman Business Forum which will be held on the sidelines of the expo would offer a range of investment opportunities for both sides, affirming that the forum would focus on means of increasing joint investments and trade between both coun-tries as well as encouraging businessmen to establish projects that serve both economies.

Ahlibank launches Visa CheckoutTHE PENINSULA DOHA

Ahlibank has announced the launch of Visa Checkout for its Credit and Debit Cardholders to simplify online shopping. Visa Checkout is a quick and easy payment service that enables Ahlibank customers to pay for goods online, on any device, in just a few clicks.

The card visual will also be displayed, making it easier for the customer to identify his card being used for the payment. Ahl-ibank Cardholders can register all their Credit and Debit Cards as well as the shipping address, and the data is stored in secure servers. When shopping on Visa Checkout enabled online shopping websites, at the time of checkout, with just a few clicks they can complete the transaction without the need to enter all the card and shipping address details again.

Ahlibank’s Deputy CEO – Retail and Private Banking, Hassan Ahmed Al Efrangi said: “I am pleased to announce the launch of Visa Checkout, an online payment service for Ahlibank’s Credit and Debit Card-holders. With online shopping growing at a rapid rate, our

Cardholders deserve a simple, fast and secure way to shop online. With each passing day, we find that more customers are shopping online, and more often.

“As even more customers start using their Credit and Debit Cards spending more time online using mobile devices, Visa Checkout is the solution as it reduces the number of steps required for them to complete their online purchases on any device, thus enhancing the entire shopping experience. This is in line with our

overall digital strategy to enrich customer experience and build in reliability while ensuring safety and security at every step.”

Visa Checkout is a s t reaml ined checkout experience that is intuitive to use and saves shopper’s time. Users simply enter a username and password to pay, rather than a 16-digit payment card number and expiry date for every trans-action. Online pur-chases can easily be completed using a

smartphone, tablet, laptop or PC. Cus-tomers can add multiple Debit or Credit Cards and choose the card they wish to use. While making the online payment, the card visual is displayed, making it easier for the customer to identify his card being used for the payment.

Visa Checkout is now accepted at over 300,000 online stores including major online retailers in Qatar and abroad. To benefit from this con-venient service one can register for Visa Checkout at: ahlibank.com.qa

Hassan Ahmed Al Efrangi, Ahlibank's Deputy CEO-Retail and Private Banking and Shashank Singh, General Manager Kuwait, Qatar Oman & Bahrain, Visa Middle East

Page 5: BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

05SUNDAY 2 DECEMBER 2018 BUSINESS

QIB wins ‘Best Islamic Bank in Qatar Award’ for second consecutive year

THE PENINSULA DOHA

Qatar Islamic Bank (QIB) has been named the “Best Islamic Bank in Qatar” in the eleventh edition of the Middle East Banking Awards presented by EMEA Finance – the leading finance magazine in Europe, Middle East, and Africa. The prestigious award marks QIB’s strong financial performance and the successful implemen-tation of its business strategy.

“We are the proud recipients of this award, which reflects the results of our hard work and dedication to ensure that the banking experience is the most efficient and comfortable for our customers,” said Bassel Gamal, QIB’s Group CEO.

“QIB received many awards over the past years. We view these awards as a motivation to keep on exercising our best efforts on a daily basis to provide unique shari’a com-pliant products and superior service to all our customers.”

EMEA Finance is a leading bi-monthly global industry pub-lication which reports on the major financial events initiated and influenced by the

international financial industry active in Europe, the Middle East, and Africa. The prestigious awards are granted based on thorough evaluation of the per-formances of regional econ-omies and banking systems, as well as analyses of landmark capital-markets deals from sov-ereigns and companies.

Awards are presented to the top performing Islamic, com-mercial, and investment banks as well as asset managers and brokers in countries across the Middle East. In turn, highlights the successes of banks and indi-viduals that have exceeded expectations by excelling in their work performance.

The Middle East Banking Awards celebrates achieve-ments of banking institutions

that have reported record profits, demonstrated the highest standards of services, developed innovative products, and achieved overall excellence in the banking industry. This year’s winners are a reflection of the economies and countries they serve and proved that they are ready for the challenges and opportunities that lie ahead.

In June 2018, Fitch Ratings affirmed Qatar Islamic Bank at ‘A’ with a stable outlook, and Moody’s Investors Service (“Moody’s”) affirmed long-term deposit ratings to QIB at “A1”. In April 2018, Standard & Poor’s (S&P) affirmed the Bank’s credit rating at ‘A-’, and Capital Intel-ligence Ratings (CI) has affirmed the Bank’s Financial Strength Rating (FSR) of ‘A’.

QIIB announces National Day offersTHE PENINSULA DOHA

QIIB has announced its cele-bration of Qatar National Day by launching special offers com-prising personal finance and car finance and on credit cards from December 1 to December 31.

The new offers aim at ful-filling the aspirations of QIIB clients, seeking personal finance or car financing at the best profit rates, easiest terms, and smooth earnings of ‘QIIB Points’ through the use of bank credit cards.

The new offer allows QIIB customers as well as other banks’ customers who wish to transfer their salaries and obli-gations to the QIIB, to get per-sonal and car finance at an annual competitive rate starting 2.83 percent (5.25 percent APR) with a grace period of up to 12 months for Qataris and three months for expatriates.

As part of the offer, each customer will receive a gift of up to 18,000 QIIB Points against car financing of QR100,000 or personal financing of QR QR 200,000 As for the credit card

offer, QIIB cardholders can earn unlimited points, enabling them to fetch air tickets to their pre-ferred destinations.

The offer is open to QIIB’s ‘Wajaha’, ‘Hospitality’ and ‘Platinum’ card customers.

Commenting on the finance and credit cards offers, QIIB Deputy CEO, Jamal Abdulla Al-Jamal (pictured) said, “The National Day is a valued and cherished occasion. We are happy to celebrate and value it. We express this in several ways, namely sharing pride with all our customers by providing

them with special offers that meet their expectations”.

“It has become a tradition for us to inform our customers the best offers, on the occasion of the National Day, on which we have noticed a strong demand. These offers also reflect the interaction of the bank with its growing and expanding customer base”, he said The Deputy CEO noted, “In addition to the importance of National Day celebrations, one of the advantages of these offers is the inclusion of all categories of customers – both nationals and expatriates, resident in Qatar. They are also provided with the easiest terms, allowing our customers to enjoy the quality and speed service through our network of branches in various regions”.

All current and new cus-tomers may contact QIIB’s Call Centre on 44840000 (which is available round-the-clock) to inquire about the details of these offers. Customers may also take advantage of these new offers by visiting any of the QIIB branches located all over Qatar.

China allows UBS to control local securities businessAFP BEIJING

UBS has been authorised by China’s securities regulator to take a controlling stake in a local business, making the Swiss giant the first foreign bank allowed to do so under new rules.

Beijing in April relaxed the rules in the financial industry in a move to open up the economy.

“The China Securities Reg-ulatory Commission (CSRC) recently approved UBS AG to

increase the shareholding ratio of UBS Securities Co Ltd to 51 percent,” the regulator said in a statement late on Friday.

“This is the first foreign-con-trolled securities company approved by the China Secu-rities Regulatory Commission after the implementation of the Measures for the Administration of Foreign-invested Securities Companies.”

USB AG, which currently owns about 25 percent of shares in the USB Securities Co Ltd joint

venture, said in a statement that it would acquire stakes from China Guodian Capital Holdings and COFCO.

Other financial firms like Wall Street titan JP Morgan Chase and Japan’s Nomura Holdings are still awaiting approval.

Laws limiting foreign own-ership of local financial firms have long stopped global banks from independently operating in China and limited their growth.

BREAK TIMEVILLAGGIO & CITY CENTER

Note: Programme is subject to change without prior notice.

2.0 (2D/Telugu) 2:00, 5:45, 8:30, 11:15, 8:45 & 11:30pmRalph Breaks The Internet: Wreck It Ralph 2 (2D/Animation)

2:00pmGuardians (2D/Action) 4:00pmCreed II (2D/Drama) 4:45, 7:15 & 11:45pmThe Girl In The Spider’s Web (2D/Crime) & 9:45pmInstant Family (2D/Comedy) 2:00pmTourab El Mass (2D/Arabic) 6:00pmWelcome Home (2D/Thriller) 4:15pm

2.0 (2D/Telugu) 2:30pm2.0 (2D/Hindi) 5:45pm2.0 (2D/Tamil) 2:30, 8;30 & 11:15pmCreed II (2D/Drama) 5:30, 8:00 & 10:45pmRalph Breaks The Internet: Wreck It Ralph 2 (2D/Animation)

2:15pmDetective Conan: Zero The Enforcer (2D/Action) 4:15pmInstant Family (2D/Comedy) 6:15pmTourab El Mass (2D/Arabic) 8:30pmGhostland (2D/Horror) 11:30pm

Creed II (2D/Drama) 3:00 & 6:45pm2.0 (2D/Tamil) 8:30 & 11:15pm2.0 (2D/Hindi) 5:30, 8:30 & 11:15pmInstant Family (2D/Comedy) 6:15pmEiary Nary (2D/Arabic) 5:00pm; Beautiful Boy (2D/Biography)

9:15pm; 10 x 10 (2D/Thriller) 8:30pm

2.0 (2D/Hindi) 4:45 & 11;30pm; 2.0 (2D/Tamil) 11:15pm 2:00pm 4:45pm 7:30pm 10:30pm 1:30am 12:30pm 3:15pm 6:00pm 8:45pm 2:15am 12:30pm 3:15pm 6:00pm 8:45pm 11:30pm 2:15am 1:00pm 3:45pm 6:30pm 9:15pm 12:00am 2:45am

Fantastic Beasts: The Crimes Of Grindelwald (2D/

Fantasy) 12:00, 5:45 & 11:30pmRobin Hood: Origins (2D/Action) 2:15, 7:00 & 11:45pmTaxiwala (2D/Telugu) 3:15 & 9:00pmSarkar (2D/Tamil) 2:45 & 8:30pmRalph Breaks The Internet: Wreck It Ralph 2 (2D/Animation)

12:00, 4:45 & 9:30pm

Creed II (2D/Drama) 1:10, 4:00, 5:00, 6:50, 9:30, 10;30, & 11:00pmRalph Breaks The Internet: Wreck It Ralph 2 (2D/Animation)

10:30am, 12:50, 3:20 & 5:40pm2.0 (2D/Hindi) 1:30, 2:00, 7:30 7:50, & 10:30pm2.0 (2D/Tamil) 10:30am, 11:00am, 1:30, 4:30, 7:30, 10:30, 8:00 & 11:00pm & 0:15am2.0 (2D/Telugu) 10:30am, 4:30pm

Instant Family is a American comedy-drama film starring Mark Wahlberg and Rose Byrne as two parents who adopt three young children; Isabela Moner, Gustavo Quiroz.

ROYAL PLAZA MALLCROSSWORD

LANDMARK

FLIK Mirqab Mall

ROXY

ASIAN TOWN

AL KHOR

2.0 (2D) 3:15, 4:00, 5:00, 6:20, 7:10, 8:10, 9:25, 10:20 11:20pm & 0:30amCreed II (2D/Drama) 11:30am, 12:35, 1:40, 4:10, 4:20, 5:30, 7:00, 9;40, 8;10 & 10:50, 14:15, 11:35 & 0:20amDetective Conan: Zero The Enforcer (2D/Action) 2:00, 4:20pmInstant Family (2D/Comedy) 1:20, 3:45, 8:50 & 11:15pmThe Girl In The Spider’s Web (2D/Crime) 3:00, 6:40, 9:05pm & 0:20amRalph Breaks The Internet: Wreck It Ralph 2 (2D/Ani-

mation) 1:35, 3:10, 5:20pmRobin Hood: Origins (2D/Action) 5:20, 7:40 & 10:00pm

INSTANT FAMILY

Page 6: BUSINESS · India’s Research Foundation confers doctorate degree on Dr. R Seetharaman ‘Made in Qatar’ in Oman to offer mega investment opportunities: Bin Towar Citing IMF’s

06 SUNDAY 2 DECEMBER 2018CLASSIFIEDS

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63 OLD SALATA (OLD SALATA):�3���+�.�����������������+*�� ��� �������� �� �������� � � ����������� � ��� ��!�"�#$��%"&'#'"()� J+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� ��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:?�8=:?� �>;>7�:0<8� �:::0�?=2;� �>>2>�>=?<����"%�'4)�����������@������������������

BIN DIRHAM 1 (MANSOURA):� L�.��������� 0����������)������������������������������������������������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� � >;>7� :0<8� �>>:?�8=:?� �??;;�0>72� �??;;�0>:?����"%�'4)�������������@������������������

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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��������J������6�0�3�������==2��������(������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::<7�;0;8� �222<�:===� �2;2=�;80:����"%�'4)� ��������@��������������������

J-COMPLEX: Brand New Commercial Building (Umm Salal Mohammed). ��!�"�#$� M"#�'4()� "������*���� ���������*���+��� 3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� :::=08>2� � :::0?=2;� ��� "%�'4)� ���������@������������������

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