Business

Sunday, April 28, 2024 | Daily Newspaper published by GPPC Doha, Qatar.

Business

Sheikha Mayes al-Thani, managing director of USQBC in Qatar.

USQBC underscores role in promoting investments, attracting FDI

An official of the US-Qatar Business Council (USQBC) has underscored its commitment to promoting investment opportunities and attracting foreign direct investments (FDI) in line with the Qatar National Vision 2030.“Promoting trade and business opportunities beyond traditional sectors can help companies explore new avenues and sectors aligned with the vision’s goals, such as technology, innovation, renewable energy, and tourism,” according to Sheikha Mayes al-Thani, managing director of USQBC in Qatar.USQBC aims to foster investment flows that contribute to the goals of the Qatar National Vision 2030 by providing information, market insight, and networking platforms to facilitate the exchange of information between businesses from the US and Qatar, Sheikha Mayes stated in the latest edition of ‘The Business Year: Qatar 2024’.On Qatar’s business climate and potential for growth and investment, Sheikha Mayes told TBY that the government has been active in diversifying the economy and reducing its dependence on hydrocarbon revenues.“The Qatari business environment is favourable, with several factors that contribute to its potential for growth and investment. First, its substantial oil and gas reserves have contributed significantly to Qatar’s economic stability and robustness. Several policies were also implemented by the government to foster economic stability and encourage foreign investment.“Second, Qatar made substantial investment into infrastructure projects in preparation to host the 2022 FIFA World Cup, resulting in a wide range of services now being available to both domestic and foreign businesses, including transportation networks, stadiums, hotels, and more. For businesses engaged in trade and transportation, Qatar’s advantageous location offers logistical advantages,” Sheikha Mayes said.She also lauded the Qatari government for introducing several incentives and initiatives to attract foreign investment, such as tax exemptions, simplified business registration procedures, and sector-specific incentives, among others.“Moreover, there has been an active effort by Qatar to diversify its economy beyond the energy sector. Growth and investment opportunities have been targeted in areas, such as finance, real estate, tourism, infrastructure, and technology,” she pointed out.According to Sheikha Mayes, the USQBC plays a vital role in fostering trade, investment, and collaboration between Qatar and the US by organising networking events, conferences, seminars, webinars, and business forums that bring together business representatives from both countries.“Additionally, USQBC assists in the identification of potential business partners or clients between companies in the US and Qatar, including organising B2B meetings, arranging trade missions, or facilitating introductions based on specific interests in an industry or sector.USQBC contributes to the development of trade between the US and Qatar by showcasing business opportunities, facilitating market entry, and providing market intelligence to its members,” she said.Sheikha Mayes added: “To help companies navigate the business landscape, USQBC provides information on regulations, trade policies, market trends, and investment incentives.“As a member-led organisation, USQBC advocates policies and initiatives that enhance bilateral trade and investment in Qatar and the US. The council works closely with government entities and stakeholders to address any barriers or challenges faced by companies and to promote a favourable business environment.”

Videos

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Damage in Israeli air base after Iran attack

Israeli army footage of what it says is the damage caused by the Iranian attack on the Nevatim Air Base, which was launched late Saturday in retaliation for a deadly air strike widely blamed on Israel that destroyed its consular building in Syria's capital early this month. AFP

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Six months of bloodshed: The toll on Gaza’s children

The bloodiest ever Gaza war which broke out over six months ago has taken an appalling toll on children. NGO Save the Children estimates that some 26,000 children have been killed or injured in the war, 17,000 have been orphaned, according to UNICEF, and 1 in 3 children under two years old in northern Gaza is suffering from acute malnutrition. In total, at least 33,207 people have been killed in the besieged Palestinian territory in Israel's retaliatory campaign for the October 7 attack, according to Hamas-run Gaza's health ministry. The unprecedented Hamas raid on southern Israel resulted in the deaths of 1,170 Israelis and foreigners, most of them civilians, according to an AFP tally based on official Israeli figures. AFP

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Gazans struggle to secure flour for daily bread

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About 73% of the traded constituents were in the red in the main bourse, whose capitalisation lost 0.28% to QR560.83bn on account of microcap segments.

Geopolitical tensions continue to weigh on QSE as index falls 28 points; M-cap melts QR1.63bn

A higher than average selling pressure in five of the seven sectors on Thursday led the Qatar Stock Exchange to knock off more than 28 points in key index and as much as QR1.63bn in.text-box { float:left; width:250px; padding:1px; border:1pt white; margin-top: 10px; margin-right: 15px; margin-bottom: 5px; margin-left: 20px;}@media only screen and (max-width: 767px) {.text-box {width: 30%;}}**media[165545]**capitalisation.Geopolitical tension continued to weigh on sentiments as the 20-stock Qatar Index shed 0.29% to 9,637.59 points, although it touched an intraday high of 9,696 points.The Arab individuals were seen net profit takers in the main market, whose year-to-date losses widened further to 11.02%.About 73% of the traded constituents were in the red in the main bourse, whose capitalisation lost 0.28% to QR560.83bn on account of microcap segments.The local retail investors’ substantially weakened net buying had its influence on the main market, which saw as many as 500 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.01mn trade across one deal.The foreign individuals were seen net sellers in the main bourse, which saw no trading of sovereign bonds.The foreign institutions continued to be bearish but with lesser intensity in the main market, which saw no trading of treasury bills.The Islamic index was seen declining faster than the main barometer in the main bourse, whose trade turnover and volumes were on the decline.The Total Return Index shrank 0.29%, the All Share Index by 0.29% and the All Islamic Index by 0.35% in the main market.The realty sector index tanked 1.4%, consumer goods and services (0.94%), telecom (0.84%), transport (0.49%), industrials (0.48%) and insurance (0.21%); while banks and financial services were up 0.06%.Major losers in the main market included Al Faleh Educational Holding, Qatar Electricity and Water, QLM, Milaha, Woqod, Commercial Bank, Dlala, Qatar German Medical Devices, Mekdam Holding, Meeza, Industries Qatar, United Development Company, Barwa, Mazaya Qatar, Ooredoo and Gulf Warehousing.Nevertheless, Baladna, Mesaieed Petrochemical Holding, Estithmar Holding, Qatar Islamic Bank, Lesha Bank and Nakilat were among the gainers in the main bourse.In the venture market, Al Mahhar Holding saw its shares appreciate in value.The Arab retail investors turned net sellers to the tune of QR3.52mn compared with net buyers of QR1.45mn on April 24.The foreign individuals were net profit takers to the extent of QR0.6mn against net buyers of QR0.36mn on Wednesday.The Qatari individual investors net buying weakened drastically to QR12mn compared to QR78.49mn the previous day.However, the domestic institutions’ net buying strengthened substantially to QR14.59mn against QR0.68mn on April 24.The Gulf retail investors turned net buyers to the tune of QR0.32mn compared with net sellers of QR0.31mn on Wednesday.The foreign institutions’ net profit booking declined considerably to QR0.01mn against QR41.3mn the previous day.The Gulf institutions’ net selling shrank noticeably to QR22.8mn compared to QR39.4mn on April 24.The Arab institutions had no major net exposure for the third straight session.Trade volumes in the main market eased 14% to 147.03mn shares, value by 27% to QR431.57mn and deals by 12% to 15,137.The venture market witnessed flat trade volumes at 0.04mn equities but value shrank 20% to QR0.05mn amidst flat transactions at 5.

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