6
Turkish-Germany ministers meet Turkish Technology and Industry Minister Mustafa Varank (right) and German Economy and Energy Minister Peter Altmaier during their meeting in Ankara, Turkey. BUSINESS Monday 29 October 2018 PAGE | 25 PAGE | 22 QIIB to finance subscriptions to IPO of Qamco shares No-deal Brexit may prolong UK austerity QP to allocate free Qamco shares for Qataris covered by social security law THE PENINSULA DOHA: Qatar Petroleum has announced that it will allocate 750 free shares in Qatar Aluminium Manu- facturing Company (Qamco), under incorporation, to all registered Qatari beneficiaries covered by the social security law. The beneficiaries stipulated by the law include the elderly, those unable to work, orphans, needy families, the disabled, divorced women, widows, prisoners’ families and other categories. In addition to the free Qamco shares, members of the entitled groups can subscribe to an additional number of shares, if they wish, and pay the due share price in accordance with the Offering Memorandum. The details of the free share allocation will be finalised in consultation with the various concerned entities. Qamco shares will be offered at QR10.1, which includes the nominal value per share of QR10, plus offering and listing costs of QR0.1 per share. QP has announced on Monday October 22, that it was planning an Initial Public Offering of shares representing 49 percent of the issued share capital of Qatar Aluminium Manufacturing Company, Qamco is set to own 50 percent of the total issued capital of Qatar Aluminium Limited (Qatalum), which is a joint venture founded between QP and the Norwegian company, Hydro. GIS posts QR39m net profit, revenue grows to QR1.96bn THE PENINSULA DOHA: Gulf International Services (GIS), the largest services group in Qatar, with interests in a broad cross-section of indus- tries, has recorded QR1.96bn in revenue for the period ended in September 2018, up by 5 percent from a year ago. The group’s net profit was surged by 78 percent year-on-year to QR39m. Revenues in the insurance segment improved significantly versus last year primarily due to capturing of new business in the energy / general insurance segment, while the drilling segment reported a slight growth in revenue due to operations of some of the assets which were not contracted in the previous year. Revenue in the aviation segment was slightly up on last year despite reduction in rev- enues from Qatar’s aviation oper- ations, which was offset by the increase in the other revenue streams. Revenues in the catering segment was moderately down on last year. Project demobili- zation, reduced camps occupancy were the main reason for this reduction. The reduction was however somewhat offset by other revenue streams. The group’s Earnings per share is QR 0.21, compared to QR0.12 last year. The improvement on last year was primarily driven by the con- tinuous efforts of cost reduction across all segments following the implementation of some aggressive cost optimisation and growth initiatives by the group in some selected business segments. The improvement realised in the drilling segment was somewhat offset by lower profit in the avi- ation segment. GIS is continuing the exe- cution of some of the opportu- nities identified by the growth strategy initiatives that was con- cluded earlier this year. These opportunities include the recently announced agreement between GDI and Seadrill to utilise synergies in Qatar’s offshore drilling market, continued assessment of the group’s operation to capture potential revenue enhancement and cost improvement opportunities. Qatari Diar completes Citi Tower infrastructure project in Malaysia THE PENINSULA DOHA: Qatari Diar Real Estate Company announced the completion of the infrastructure and parking phase of the Citi Tower project in the heart of Malaysia’s capital Kuala Lumpur. The announcement was made within the framework of the visit paid by a delegation from Qatari Diar, headed by CEO Eng. Abdullah bin Hamad Al Attiyah, to Malaysia to review the latest developments in the project, which cost a total of QR5.6bn. During the visit, the dele- gation met with Ahmad Nizam Salleh, the Chairman of the Malaysian oil company Petronas (Petroliam Nasional Berhad), which is the strategic partner of the project, in the presence of Qatar’s Ambas- sador to Malaysia Fahad Mohammed Kafood. The visit aimed at following up the progress of Citi Tower project, one of Qatari Diar’s important projects that is implemented in partnership with Petronas. The project is a mixed-use commercial hub adjacent to the iconic Petronas Towers comprising of high rise office tower with retail and 5 star hotel. The project com- prises of two Towers including office, hotel, retail podium and an underground car park. → CONTINUED ON PAGE 22 Abdullah bin Hamad Al Aiyah (second leſt), CEO of Qatari Diar, along with other officials at the project site in Malaysia. Barwa records QR1.08bn net profit THE PENINSULA DOHA: Barwa Real Estate Group’s net profit attributable to the shareholders of the parent company stood at QR 1.08bn for the financial period ended September 2018, down from QR1.22bn posted for the same period in 2017. Barwa’s earnings per share is at QR 2.78 compared to QR3.14 for the same period of last year. The Group successfully enhanced its operating revenues through increasing its rental income by QR70m, representing an increase of 8 percent com- pared to the same period in 2017. Barwa’s rental income increased by 8 percent year-on-year. The Group aims to increase its operating revenues by improving the efficiency of existing operational projects, in addition to supporting the Group’s operational real estate portfolio through new projects. Barwa completed the con- struction work of Phase two of Madinat Al Mawater project and the Barwa Village extension project, in addition to finalising the development work of the Affordable Housing project for laborers at Salwa Road and Dara A project. It also finalised the ongoing development work of the other projects such as the Warehouses Project of Barwa Al Baraha and Al Khor’s Recreation Extension project. The Group said it will con- tinue to study its available land bank in order to identify the optimal utilisation, thus helping to support the development of sustainable revenues, where it is expected to award the con- struction contracts of Phase Three of Barwa Al Baraha project and the Phase Three of Madinat Al Mawater project before the end of the year. Barwa is also keen on enhancing the partnership with the Government of the State of Qatar to create real estate devel- opment projects that contribute to meet the needs of citizens and residents. This will help the Group fulfill its role as the largest real estate developer in the country. This has resulted in many projects such as the Affordable Housing project for laborers at Salwa Road, Madinat Al Mawater project and Mus- tawdaat project. “During the nine-month period, Barwa accomplished a number of key achievements, including increasing the rental income, completion of the devel- opment of Mustawdaat project, the phase two of Madinat Al Mawater project and Barwa Village extension project. It also include finalising development work of the Affordable Housing project for laborers at Salwa Road and Dara project, and con- tinuing the development of Al Baraha Warehouses project. Barwa also awarded a contract worth QR105m for Al Khor’s Recreation Extension project”, Barwa said. Barwa is also keen on enhancing the partnership with the Government of the State of Qatar to create real estate development projects that contribute to meet the needs of citizens and residents. QNB starts financing of subscriptions for IPO shares THE PENINSULA DOHA: QNB, the largest financial institution in the Middle East and Africa, has announced the financing of subscriptions to the initial public offering (IPO). The Bank will finance 65 percent of the total value of shares that Qatari QNB customers wish to purchase, with the capability of providing them at ‘0’ percent interest until the surplus shares are allocated. The Bank offers a simple subscription process by visiting its website qnb.com/ipo, downloading the form, filling it out, signing it, and sending it to the Bank along with the required documents. After regis- tering online, customers can easily subscribe to the IPO online or through SMS anytime. QNB is working to provide innovative ways to enable customers to register on all IPOs either for themselves or on behalf of their rela- tives and children. More information will be available from QNB’s Customer Care Center at 44407777.

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Page 1: BUSINESS - mail.thepeninsulaqatar.commail.thepeninsulaqatar.com/uploads/2018/10/29/eb530625e6d685ba… · to all registered Qatari beneficiaries covered by the social security law

Turkish-Germany ministers meetTurkish Technology and Industry Minister Mustafa Varank (right) and German Economy and Energy Minister Peter Altmaier during their meeting in Ankara, Turkey.

BUSINESSMonday 29 October 2018

PAGE | 25PAGE | 22QIIB to finance

subscriptions to IPO of Qamco shares

No-deal Brexit may prolong UK austerity

QP to allocate free Qamco shares for Qataris covered by social security lawTHE PENINSULA

DOHA: Qatar Petroleum has announced that it will allocate 750 free shares in Qatar Aluminium Manu-facturing Company (Qamco), under incorporation, to all registered Qatari beneficiaries covered by the social security law.

The beneficiaries stipulated by the law include the elderly, those unable to work, orphans, needy families, the disabled, divorced women, widows, prisoners’ families and other categories.

In addition to the free Qamco shares, members of the entitled groups can subscribe to an additional number of shares, if they wish, and pay the due share

price in accordance with the Offering Memorandum.The details of the free share allocation will be finalised in consultation with the various concerned entities. Qamco shares will be offered at QR10.1, which includes the nominal value per share of QR10, plus offering and listing costs of QR0.1 per share.

QP has announced on Monday October 22, that it was planning an Initial Public Offering of shares representing 49 percent of the issued share capital of Qatar Aluminium Manufacturing Company, Qamco is set to own 50 percent of the total issued capital of Qatar Aluminium Limited (Qatalum), which is a joint venture founded between QP and the Norwegian company, Hydro.

GIS posts QR39m net profit, revenue grows to QR1.96bnTHE PENINSULA

DOHA: Gulf International Services (GIS), the largest services group in Qatar, with interests in a broad cross-section of indus-tries, has recorded QR1.96bn in revenue for the period ended in September 2018, up by 5 percent from a year ago. The group’s net profit was surged by 78 percent year-on-year to QR39m.

Revenues in the insurance segment improved significantly versus last year primarily due to capturing of new business in the energy / general insurance segment, while the drilling segment reported a slight growth in revenue due to operations of some of the assets which were not contracted in the previous year.

Revenue in the aviation segment was slightly up on last year despite reduction in rev-enues from Qatar’s aviation oper-ations, which was offset by the increase in the other revenue streams. Revenues in the catering segment was moderately down on last year. Project demobili-zation, reduced camps occupancy were the main reason for this reduction. The reduction was however somewhat offset by other revenue streams.

The group’s Earnings per share is QR 0.21, compared to QR0.12 last year. The improvement on last year was primarily driven by the con-tinuous efforts of cost reduction across all segments following the implementation of some

aggressive cost optimisation and growth initiatives by the group in some selected business segments. The improvement realised in the drilling segment was somewhat offset by lower profit in the avi-ation segment.

GIS is continuing the exe-cution of some of the opportu-nities identified by the growth strategy initiatives that was con-cluded earlier this year.

These opportunities include the recently announced agreement between GDI and Seadrill to utilise synergies in Qatar’s offshore drilling market, continued assessment of the group’s operation to capture potential revenue enhancement and cost improvement opportunities.

Qatari Diar completes Citi Tower infrastructure project in MalaysiaTHE PENINSULA

DOHA: Qatari Diar Real Estate Company announced the completion of the infrastructure and parking phase of the Citi Tower project in the heart of Malaysia’s capital Kuala Lumpur.

The announcement was made within the framework of the visit paid by a delegation from Qatari Diar, headed by CEO Eng. Abdullah bin Hamad Al Attiyah, to Malaysia to review the latest developments in the project, which cost a total of QR5.6bn.

During the visit, the dele-gation met with Ahmad Nizam Salleh, the Chairman of the Malaysian oil company

Petronas (Petroliam Nasional Berhad), which is the strategic partner of the project, in the presence of Qatar’s Ambas-sador to Malaysia Fahad Mohammed Kafood.

The visit aimed at following up the progress of Citi Tower project, one of Qatari Diar’s important projects that is implemented in partnership with Petronas. The project is a mixed-use commercial hub adjacent to the iconic Petronas Towers comprising of high rise office tower with retail and 5 star hotel. The project com-prises of two Towers including office, hotel, retail podium and an underground car park.

→ CONTINUED ON PAGE 22

Abdullah bin Hamad Al Attiyah (second left), CEO of Qatari Diar, along with other officials at the project site in Malaysia.

Barwa records QR1.08bn net profitTHE PENINSULA

DOHA: Barwa Real Estate Group’s net profit attributable to the shareholders of the parent company stood at QR 1.08bn for the financial period ended September 2018, down from QR1.22bn posted for the same period in 2017. Barwa’s earnings per share is at QR 2.78 compared to QR3.14 for the same period of last year.

The Group successfully enhanced its operating revenues through increasing its rental income by QR70m, representing an increase of 8 percent com-pared to the same period in 2017. Barwa’s rental income increased by 8 percent year-on-year.

The Group aims to increase its operating revenues by improving the efficiency of existing operational projects, in addition to supporting the Group’s operational real estate portfolio through new projects.

Barwa completed the con-struction work of Phase two of Madinat Al Mawater project and the Barwa Village extension project, in addition to finalising the development work of the Affordable Housing project for laborers at Salwa Road and Dara A project. It also finalised the ongoing development work of

the other projects such as the Warehouses Project of Barwa Al Baraha and Al Khor’s Recreation Extension project.

The Group said it will con-tinue to study its available land bank in order to identify the optimal utilisation, thus helping to support the development of sustainable revenues, where it is expected to award the con-struction contracts of Phase Three of Barwa Al Baraha project and the Phase Three of Madinat Al Mawater project before the end of the year.

Barwa is also keen on enhancing the partnership with the Government of the State of Qatar to create real estate devel-opment projects that contribute to meet the needs of citizens and residents. This will help the Group fulfill its role as the largest real estate developer in the country. This has resulted in many projects such as the Affordable Housing project for

laborers at Salwa Road, Madinat Al Mawater project and Mus-tawdaat project.

“During the nine-month period, Barwa accomplished a number of key achievements, including increasing the rental income, completion of the devel-opment of Mustawdaat project, the phase two of Madinat Al Mawater project and Barwa Village extension project. It also include finalising development work of the Affordable Housing project for laborers at Salwa Road and Dara project, and con-tinuing the development of Al Baraha Warehouses project. Barwa also awarded a contract worth QR105m for Al Khor’s Recreation Extension project”, Barwa said.

Barwa is also keen

on enhancing the

partnership with

the Government of

the State of Qatar

to create real estate

development projects

that contribute to

meet the needs of

citizens and residents.

QNB starts financing ofsubscriptions for IPO sharesTHE PENINSULA

DOHA: QNB, the largest financial institution in the Middle East and Africa, has announced the financing of subscriptions to the initial public offering (IPO). The Bank will finance 65 percent of the total value of shares that Qatari QNB customers wish to purchase, with the capability of providing them at ‘0’ percent interest until the surplus shares are allocated.

The Bank offers a simple subscription process by visiting its website qnb.com/ipo, downloading the form, filling it out, signing it, and sending it to the Bank along with the required documents. After regis-tering online, customers can easily subscribe to the IPO online or through SMS anytime.

QNB is working to provide innovative ways to enable customers to register on all IPOs either for themselves or on behalf of their rela-tives and children. More information will be available from QNB’s Customer Care Center at 44407777.

Page 2: BUSINESS - mail.thepeninsulaqatar.commail.thepeninsulaqatar.com/uploads/2018/10/29/eb530625e6d685ba… · to all registered Qatari beneficiaries covered by the social security law

22 MONDAY 29 OCTOBER 2018BUSINESS

QIIB to finance subscriptions to IPO of Qamco sharesTHE PENINSULA

DOHA: QIIB announced yesterday that it will be financing the subscriptions to the initial public offering (IPO) of the Qatar Aluminum Manu-facturing Company (Qamco) shares, which officially starts tomorrow, tuesday and continues until November 12.

QIIB has made all the required logistic arrangements to welcome the subscribers in the branches that are partici-pating in the Qamco IPO subscription.

On the occasion of QIIB’s participation in the Qamco IPO subscription, Jamal Al Jamal (pictured), QIIB Deputy CEO, said, “We are delighted to par-ticipate in all activities which add value to the national economy.

No doubt that the sub-scription in Qamco shares clearly reflects the dynamic state of the Qatari economy, which is able to provide devel-opment opportunities and engage the largest possible number of citizens in the

success and evolution of the Qatari economy”.

He said QIIB is participating in the IPO subscription to Qamco shares by financing pro-spective subscribers and wel-coming them at 15 dedicated branches covering all the regions in the country with flexible subscription hours, in the morning and evening as well as at the weekend.

Al Jamal noted, “QIIB pro-vides the subscribers with financing 65 percent of the sub-scribed shares’.

As for IPO applicants whose salaries are not transferred to QIIB, the limit of subscription

finance has been set from 7,000 shares to an upper limit of 50,000 shares.

However, there is no limit for QIIB customers who salaries have been transferred to the bank.

He called on the “sub-scribers to benefit from the opportunity of QIIB’s sub-scription finance along with the facilitated conditions, which have always met clients’ expec-tations and needs for fair, flexible and expedite finance.”

The Deputy CEO expressed the hope that “the subscription to Qamco IPO shares will be smoothly conducted in all

relevant QIIB’s branches; knowing that the Bank has suc-cessfully executed similar oper-ations in the past.

A professional and experi-enced team supervises the various aspects related to the IPO subscription while dealing with the standards and require-ments that are necessary for the success of the subscription process.

Clients are able to subscribe to the initial public offering (IPO) of the Qatar Aluminum Manufacturing Company (Qamco) shares in the desig-nated QIIB branches and obtain the finance, starting Tuesday.

All information on sub-scribing to the Qamco IPO can be had from the QIIB call center, on 44840000, round the clock.

Nakilat announces improved profits in third quarterTHE PENINSULA

DOHA: Nakilat posted an improved net profit of QR659m for the nine-month period ended September 2018, up 8.5 percent, compared to QR607m posted during the same period last year in 2017.

Nakilat’s stronger per-formance is a result of the com-pany’s successful expansion, which is attributed to its strategic long-term plan to diversify and seek business opportunities with minimal risk, as well as through effective cost optimisation initia-tives across its integrated opera-tions. This has been achieved through the acquisition of two additional jointly-owned liquefied natural gas (LNG) carriers and a major stake in the first floating storage regasification unit (FSRU).

The expansion of Nakilat’s fleet opens a new horizon and business avenue for the company to sustain its long-term growth and development strategies, which in turn will further max-imize value and returns for its shareholders. Nakilat joint venture companies have also performed well, supported by the encouraging demand for ship repair and retrofits and offshore fabrication at the world-class Erhama bin Jaber Al Jalahma shipyard in the last quarter.

The Board of Directors com-mended Nakilat’s prudent oper-ational management, which has enabled the company to be resilient in the global energy transportation market. This is aligned with Qatar’s vision and

efforts towards developing the LNG market, as it is the energy of the future. Nakilat’s solid per-formance is a result of the com-pany’s effective operations and determination to ensure long-term sustainability, which has enabled Nakilat to maintain a steady cashflow and generate greater returns for its shareholders.

Nakilat Chief Executive Officer (CEO) Abdullah Fadhalah Al Sulaiti said, “Nakilat’s improved financial performance bears testament to the company’s ongoing emphasis on enhancing efficiency, increasing produc-tivity and pursuing growth strat-egies, without compromising safety and quality across all our integrated operations”.

Al Sulaiti added that the company is always on the lookout for opportunities to diversify its business and expand its portfolio, with the aim to widen international outreach and secure industry-leading position in the dynamic and competitive LNG market, which will strengthen Qatar’s leading position in the global LNG trans-portation market.

“Nakilat will continue to play our significant role in steering our efforts toward enhancing capability and resiliency to strengthen the country’s shipping and maritime industry, elevating the company to greater heights in alignment with our vision to be a global leader and provider of choice for energy transpor-tation and maritime services,” the CEO said.

Doha Bank hosts staff quiz competitionTHE PENINSULA

DOHA: Doha Bank Qatar, recently hosted a staff quiz competition, alongside enter-taining activities for its staff and their families.

The fun-filled event, titled ‘Brainy Squad’, saw tremendous response and wholehearted involvement from bank-wide staff. With around 30+ teams par-ticipating in the competition, the top 5 teams walked away with attractive prizes, in a tightly-fought, yet fun-filled event.

The format of the competition included preliminaries, rapid fire, Qatar, GK, IT and Social Medial rounds, and also a mixed bag round where the teams had to bid for their scores, which increased the intensity of the event. Audience also had opportunities to challenge their skills through an interactive treasure hunt and several skill based games.

Team ‘Risk Mongers,’ com-prising of Erantha Madawala,

Nishantha Fernando, and Tharindu Prasad, emerged as the winners of the competition. ‘Team FIT’, with Manjula Sandanayake, Dharnendra Khothari, and Krishnan Cooray bagged the second prize, while ‘Remittance Super Eagles’ team, consisting of Michael Orosco, Devidasanunny, and Ryan Fabian won the third prize.

Conrado Caberte, Dinesh Sachdev, and Mohamed Isaad with their team ‘Virtus Pro’ and, Mahmoud Rabie, Jayakrishnan Kavukattu, and Ashwin Hatwalne representing ’The Fluffy Warriors’ team secured the fourth and fifth positions respectively.

Commenting on the suc-cessful conclusion of the event, Dr Seetharaman, Group CEO, Doha Bank, said: “Doha Bank is an employee-centric organisation that strives to sustain a positive work environment where employees feel valued and enjoy coming to work.

The Brainy Squad quiz com-petition was part of our endeavors focused on nurturing a company-wide culture of learning and teamwork.

I would like to congratulate the winners of the competition and extend my deepest gratitude to all staff members who made this event a great success with their spirited participation, coor-dination and hard work.”

Doha Bank headquarters in West Bay.

QIIB is participating in

the IPO subscription

to Qamco shares by

financing prospective

subscribers and

welcoming them at 15

dedicated branches

covering all the regions

in the country.

Jamal Al Jamal, QIIB

Deputy CEO

→ CONTINUED FROM PAGE 21

The expertly planned Citi Tower is a purpose-built, fully integrated inner city devel-opment featuring quality and intelligent buildings, state-of-the-art amenities and the finest communication facilities.

The Citi Tower Precinct is designed to be another iconic landmark enhancing Kuala Lumpurs skyline. The hub comprises of a 56-storey Hotel, a 77-storey Office Tower, a 6-storey retail podium and multi-level basement parking.

Qatari Diar Real Estate Company was established in 2005 by the Qatar Investment Authority. It was entrusted to support Qatars growing economy and to coordinate the country’s real estate devel-opment priorities.

The company’s flagship project, Lusail City, was launched in December 2005 and quickly went on to gain tremendous praise for its inno-vative approach to real estate.

Qatari Diar has a shared capital of $8 billion, with 60 investment projects under development or held in 24 countries around the world, combining a value of over $35bn.

Qatari Diar completes Citi Tower infra project

Browder’s laundering complaint shows $97m Nokia paymentBLOOMBERG

HELSINKI: Nokia Oyj has been identified as the biggest indi-vidual recipient of potentially illicit funds relating to money laundering allegations against Nordea Bank Abp, according to investor Bill Browder (pictured).

As much as $97.2m that may have been laundered ended up in Nokia’s accounts at Nordea, according to a document sent by the UK financier to Bloomberg. Browder sent the complaint earlier this month to Finland’s National Bureau of Investigation and the prosecutor general.

“Nokia takes such allegations very seriously, but as we have not yet seen the claims by Mr Browder, we cannot comment on the contents,” spokesman Brett Young said in a statement on Sunday. He said the allegations appear to be related to Nokia’s mobile-phone business, which it divested in 2014, and are thus “unrelated to our current operations.”

Browder says he has evi-dence that as much as $405m was laundered through Nordea in a case he alleges is linked to the scandal engulfing Danske Bank A/S. He says the money received by Nokia came from fic-titious companies with accounts

at Ukio Bank, in Lithuania, that were set up to launder money and evade taxes. While the com-plaint didn’t specify a time frame

for the transactions, they pre-date 2013, when Ukio Bank was declared bankrupt.

In general, Finnish law requires that companies abide by know-your-customer rules in trades in which amounts exceeding ¤10,000 ($11,500) change hands, said Santeri Suominen, legal adviser at the Confederation of Finnish Industries.

And if companies receive payments for their goods from entities other than the buyer with which the transaction was agreed, then “companies oper-ating carefully would check out the entity who wired the money and whether it’s a genuine third party,” he said.

Suominen also noted that anti-money laundering laws today are much stricter than they were back in 2012. Nokia wasn’t the only company named in Browder’s complaint, but its money flows were considerably bigger than those of the other firms listed.

Once known for its near-unbreakable mobile phones, Nokia sold its handset business to Microsoft Corp. in 2014 and now designs and manufactures mobile network components. At its peak in 2008, Nokia sold more than 468m handsets.

If companies receive

payments for their

goods from entities

other than the

buyer with which

the transaction

was agreed, then

companies operating

carefully would check

out the entity who

wired the money

and whether it’s a

genuine third party.

10,144.37

-8.99 PTS

0.09%

QSE FTSE100 DOW BRENT6,939.56

−64.54 PTS

0.92%

24,688.31

−296.24PTS

1.19% Dow & Brent before going to press

$67.59

+0.80

MarketWatch

Page 3: BUSINESS - mail.thepeninsulaqatar.commail.thepeninsulaqatar.com/uploads/2018/10/29/eb530625e6d685ba… · to all registered Qatari beneficiaries covered by the social security law

23MONDAY 29 OCTOBER 2018 BUSINESS

Page 4: BUSINESS - mail.thepeninsulaqatar.commail.thepeninsulaqatar.com/uploads/2018/10/29/eb530625e6d685ba… · to all registered Qatari beneficiaries covered by the social security law

24 MONDAY 29 OCTOBER 2018BUSINESS

Mixed US inflation signals leave investors adriftREUTERS

WASHINGTON: US quarterly earnings reports this month were supposed to give investors clarity about the health of Wall Street’s rally this year.

Instead, profit reports and forecasts following the most recent three months are giving investors indigestion as com-panies send unclear messages about the rising cost of goods and labor.

“I don’t understand why people are so hesitant to admit that we’re in an upturn in inflation,” said Richard Bern-stein (pictured), chief executive of Richard Bernstein Advisors LLC. Companies, he said, are “scared that they’re not going to get rewarded for pricing growth.”

The unexplained absence of inflation during the last dec-ade’s US equity price boom is

now being replaced in investor psychology by fears that inflation is finally pushing up costs and squeezing margins and may be one of the culprits in this month’s selloff of US stocks.

US consumer price inflation was 2.3 percent in the year to September, according to the Labor Department, and even “core” inflation, which strips out volatile food and energy prices,

is running at 2.2 percent for the year, above the Federal Reserve’s target.

With unemployment at 3.7 percent, the lowest in nearly 40 years, annual wage growth was 2.9 percent in September, a nine-year high. The question is whether the cost increases com-panies say they are now absorbing are fleeting or here to stay.

At stake is a market rally built on the premise that stock valuations are justified by earnings that go on growing.

While earnings growth is still high at 22 percent so far this quarter, the amount by which S&P 500 index companies are beating analyst estimates is nearly half of what it was during the first quarter, according to Refinitiv data.

Unless companies can raise prices fast enough to keep up with the rising costs of hiring

and materials, stocks may struggle to maintain current valuations.

Borrowing costs are also rising as the Federal Reserve is expected to keep raising interest rates into 2019 to ward off the inflationary threat, with US economy growing at 4.2 percent in the second quarter this year, helped by last year’s $1.5 trillion worth of tax cuts.

And now US businesses are also warning of input costs rising as a result of President Trump’s imposition of import tariffs. Steel and aluminum tariffs have cost Ford Motor Co about $1 billion in profits, its chief executive officer said last month. “Market participants are really concerned that maybe finally we have seen peak earnings and that people are talking much more about costs rising and, looking ahead, cor-porate profit margins could

certainly come under pressure,” said Fritz Folts, chief investment strategist at 3EDGE Asset Man-agement LP.

Corporate leaders sit on the frontline of inflation, but they are not offering consistent guidance about where they expect the trend to go from here. The divergence in guidance and outlooks is costing investors money.

On October 8, paint-maker PPG Industries Inc told investors to expect lower profits, saying that it expected the prices for the raw materials it uses to keep rising, and its stock fell 10 percent during the following trading session. Economist Ed Yardeni said the forecast help set the stage for the broader market selloff later that week.

Yet PPG’s rival, Akzo Nobel NV, said nine days later that it thinks inflation on those sorts of items has peaked for the year.

Eurozone not prepared enough to face new crisisREUTERS

PARIS: There is no risk of contagion from Italy’s budget crisis in the European Union but the euro zone is not prepared enough to face a new economic crisis, French Finance Minister Bruno Le Maire told daily Le Parisien.

The European Com-mission rejected Italy’s draft 2019 budget earlier this week for breaking EU rules on public spending, and asked Rome to submit a new one within three weeks or face disciplinary action.

“We do not see any con-tagion in Europe. The European Commission has reached out to Italy, I hope Italy will seize this hand,” he said in an interview.

“But is the eurozone suf-ficiently armed to face a new economic or financial crisis? My answer is no. It is urgent to do what we have pro-posed to our partners in order to have a solid banking union and a euro zone investment budget.”

Euro zone officials have said that Rome’s unprece-dented standoff with Brussels seems certain to delay the reform process and probably dilute it for good.

Le Maire also said French banks with branches in Italy had issued corporate and household loans totalling ¤280bn ($319bn).

“This sum is manageable but substantial,” he said.

China’s Byton eyes IPO to fund expansionREUTERS

FRANKFURT: Chinese electric car maker Byton may launch an initial public offering to fund growth, Carsten Breitfeld, its chief executive and co-founder, told Germany’s Automobil-woche.

“With the capital-intensive nature of business and our expansion, the topic of listing on the stock market will become relevant,” Breitfeld told the publication.

Before this, Byton will seek another round of fundraising from private investors prior to starting production of its vehicle, Breitfeld said.

Byton already has financial backing from Chinese

state-owned carmaker FAW Group which in May agreed to invest around $260m, as well as

from Chinese battery supplier Contemporary Amperex Tech-nology Co (CATL).

The logo is pictured on the back of a Byton Concept T car during a media preview at the Auto China 2018 motor show in Beijing.

Tesla’s Musk says tweet that cost him $20m was ‘worth it’BLOOMBERG

BENGALURU: Tesla Inc.’s Chief Executive Officer Elon Musk said he was signing off Twitter for a few days, shortly after tweeting that the $20m penalty he was given for announcing on Twitter that he had funding to take the electric vehicle maker private was “worth it.”

His sign-off culminated a series of tweets that included an announcement about the release of autopilot drive on navigation.

Earlier this month, a US judge approved Tesla and Musk’s $40m settlement with the Securities and Exchange Commission over a probe of Musk’s August tweet citing funding being secured to take the company private. Musk would pay a penalty of $20m as part of the deal. The SEC settlement required that Tesla implement mandatory procedures and controls to oversee all of Elon Musk’s communica-tions regarding the company in any format, including Twitter. It said any such written communications that contain information material to the company or its shareholders would need to be pre-approved.

Musk took to the social media service Friday, saying “on Twitter, likes are rare & criticism is brutal. So hardcore. It’s great.”

Breaking invisible barriers

SHE is a free spirit who loves chasing her dream. An HR strategist, entre-preneur, motivational

speaker, Maryam Al Mansoori is in the pursuit of inventing her future on her own terms. She is direct, unremorsefully blunt and to the point as shares her personal story and how she tries to break the glass ceiling.

Maryam Al Mansoori, cur-rently the Chief Support Officer at BARZAN Holdings and a man-agement consultant, enjoys breaking the stereotypes in the journey to realize her dream. “As a woman, you need to break your own glass ceiling’, she says, and she doesn’t want in limiting herself.

The young Qatari profes-sional who quit less than half a dozen lucrative jobs within a span of ten years in pursuit of her ‘dreams’ echoes the Apple co-founder late Steve Job’s vision of an ideal job. “The only way to do great work is to love what you do. If you have not found it yet, keep looking. Do not settle…to stop looking beyond would be to halt your dreams midway. And that would be pity. Dreams are there for a reason. They are what keep me going,”she says.

Maryam, who joined RasGas as a Network Analyst in 2001, saw a meteoric rise in her career

graph before she quit the organ-isation in 2008 as Head of Workforce Planning & HR Systems.

She joined Msheireb Prop-erties in the same year as HR Manager and rose to the position of Chief Officer-Corporate Planning & Support within a span of six years. She also worked with Sidra Medical & Research Centre for a brief stint as Chief HR Officer. For Maryam, the adage “a rolling stone gathers no moss” is a mis-nomer. She keeps rolling to make her life more meaningful. “Its not easy. Some people think why would a Qatari lady keep struggling, when she has a com-fortable job and can lead a laid back life”, she tells.

“Yes, I too love shopping and a laid back life. I do appreciate the value of the time I relax and enjoy my easy life. But every-thing has its own time. I do believe that every person has a story to tell. I want to make my story exciting, that’s why I am doing exciting things. I want to tell my story to someone one day. I know someone will be fol-lowing me and someone will be influenced by me and inspired by me. I am just curious and want to explore this world further and further, Maryam who earned her Master’s Degree from SBS Swiss Business School and pursuing a PhD, said.

“ I am curious. I follow my passion. I am willing to take risk. I always have that gut feeling

“why not I can do it?”. I myself set a benchmark and compete with myself to raise the bar. Yes, it’s not always good. But I am enjoying the moment. I believe I still have energy to do it.”

“Take the risk” is Maryam’s message to young Qatari girls. “Let them chase their dreams. If you really like something, just take the plunge. It’s always about taking the risk.”

According to Maryam , one of the biggest risks she took in her life was changing her job at a time when she was standing tall in one of the top energy companies. “After seven years of hard work I was like at the top of my success then. But I decided to quit that lucrative job to join an organization which was yet to establish. My bosses told me I was doing a big mistake and killing my career. But I took it as a challenge; and now I am here.”

Maryam recalls some of her previous bosses telling her that she can never become a

successful corporate head just because she is very nice to people. “Nice lady doesn’t mean I am not professional, not smart, I won’t be able to manage people. There are plenty of lead-ership styles. Nice leaders do exist and are successful , I need to prove this. I was proving this for myself.”

The pressure is generally high because women feel they have to continuously prove themselves, and when that happens, the passion for their career dries up easily. Maryam says in the male dominated ecosystem, she had faced lot of stereotyping. She had worked in a professional environment where some male colleagues even refused to report to her as their team leader, just because she is a female. It’s not only gender; it’s also about age and being young. “I was in situations in business meetings, when I was often asked “how old are you?”. You need to break it.”

As she said Maryam nar-rated in her recently published book “The 4ourth Floor”, a brand is everything for a company. It is what instills con-fidence in the market; it is what makes a consumer choose one product over the other. It is the quintessence of the existence of a company. Similarly, eve-ryone should think themselves as a brand. Consider what sort of a brand do you wish to create yourself? And what do you want to be known for?.

Maryam Al MansooriChief Support Officer, BARZAN Holdings

'Take the risk' is

Maryam’s message

to young Qatari

girls. 'Let them

chase their dreams.

If you really like

something, just

take the plunge. It’s

always about taking

the risk.'

SATISH KANADY THE PENINSULA

QNA

DOHA: The 13th Enriching the Middle East’s Economic Future Conference 2018 will kick off in Doha tomorrow with a wide local and foreign participation.

The two-day event is organised by the Permanent Committee for Organizing Con-ferences at the Ministry of Foreign Affairs, in cooperation with the Center for Middle East Development (CMED) of the Uni-versity of California-Los Angeles.

As every year, the Enriching Middle East Economic Future Conference will offer a wide ranging overview of the key issues in the region and around the world, bringing together a distinguished elite of eminent economists, experts, researchers, academics, business men and decision makers from all over the world to express their views and exchange ideas and insights on the future prospects of the Middle East and the Mediter-ranean region in the economic field.

Since its first edition in 2006, the Conference has been con-cerned with the economic aspect of the Middle East region and the development of visions, solu-tions and initiatives for the econ-omies of the region and the developments related to them in the future.

The conference will be held in light of the economic, political, security and other challenges facing the world, which carry many dangers that threaten the world’s order and security. It will be held amidst successive developments in the Middle East that require dealing with them in a manner that respects the principles of inter-national legitimacy in its true sense, and explores ways to comply with the true meaning of international legality with

respect for human rights and to ensure mutual respect in inter-national relations away from political passions and the logic of force.

In statements to Qatar News Agency (QNA), Director of the Center for Middle East Devel-opment at UCLA Steven Spiegel said that this year’s edition of the Enriching the Middle East’s Eco-nomic Future Conference aims at discussing the mechanisms of improving the economies of the Middle East and building a better economy in the region, along with identifying the successful economic experiences in the Middle East and the countries participating in the conference for the benefit of all and bene-fiting from the exchange of expe-rience and economic knowledge.

Spiegel said that the con-ference will be attended by 250 figures from over 76 countries around the world, which affirms the importance of the event and its ability to attract many expert to exchange information and experiences needed to boost the economies of the Middle east region and building a better future.

He stressed that economy and politics are interdependent, therefore, in order to build a suc-cessful economy in any country, a healthy environment, a good education and a clear policy should be provided, which are all available in the State of Qatar.

The conference will witness more than 20 session over two days. The meet will discuss a range of important issues, including the impact of tariffs and global economic trends on the regions economies, upcoming US elections, regional policy responses to the trans-formation of world trade and economic challenges, the great powers of the Mideast, cyber-security and global order.

Economic conference set to open tomorrow

PROFILE

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25MONDAY 29 OCTOBER 2018 BUSINESS

BREAK TIMEVILLAGGIO & CITY CENTER

Note: Programme is subject to change without prior notice.

Mandharam (2D/Malayalam) 2:00 & 11:30pm; The Princess And The Dragon (2D/Animation) 2:15 & 4:30pm; Jarugandi (Tamil) 2:30pm First Love (2D/Tagalog) 7:15pm; Ana And Bruno (2D/Animation) 3:45 & 5:30pm; Chalakkudikkaran Changathi (2D/Malayalam) 6:00pm; Baazaar (2D/Hindi) 5:00 & 9:00pm; Halloween (2D/Horror) 9:30pm; Hunter Killer (2D/Action) 7:30pm; Hell Fest (2D/Horror)

11:30pm; Badaai Ho (2D/Hindi) 11:30pm; The King Of Thieves (2D/Crime) 9:30pm

Baazaar (2D/Hindi) 2:15 & 9:00pm; Ana And Bruno (2D/Ani-

mation) 2:15 & 4:00pm; Jarugandi (Tamil) 5:00pm Mandharam (2D/Malayalam) 2:30pm; Badaai Ho (2D/Hindi)

4:45 & 11:00pm; Sandakozhi (2D/Tamil) 5:00pm; The Princess

And The Dragon (2D/Animation) 5:45pm; Hunter Killer (2D/Action) 7:00pm; Chalakkudikkaran

Changathi (2D/Malayalam) 8:00 & 11:00pm; Halloween (2D/Horror) 7:15 & 11:30pm; Hell Fest (2D/Horror) 9:15pm.

The Princess And The Dragon (2D/Animation) 2:30pm; Badaai Ho

(2D/Hindi) 2:30pm; Chalakkudikkaran Changathi (2D/Malayalam)

4:30pm; Ana And Bruno (2D/Animation) 5:00pm; Hunter Killer

(2D/Action) 7:30pm; The King Of Thieves (2D/Crime) 7:00pm; First Love (2D/Tagalog) 9:00pm; Hot Dog (2D/Action) 9:30pm; Halloween (2D/Horror) 11:30pm; Baazaar (2D/Hindi) 11:15pm

Jarugandi (Tamil) 5:45 & 11:30pmBaazaar (2D/Hindi) 5:45 & 11:15pm96 (Tamil) 8:15pmMandharam (2D/Malayalam) 8;30pm Kayamkulam Kochunni (Malayalam) 7:00, 10:00pm Sandakozhi (2D/Tamil) 5:30pmChalakkudikkaran Changathi (2D/Malayalam) 8:30pm Vada Chennai (2D/Tamil) 11:00pm

Hunter Killer (2D/Action) 10:45am, 1:15, 3:45, 6:15, 8:45 & 11:15pmJarugandi (Tamil) 10:30 & 3:45pm; Mandharam (2D/Malayalam) 12:15, 5:45 & 11:15pmBadaai Ho (2D/Hindi) 1:15 & 9:15pmChalakkudikkaran Changathi (2D/Malayalam) 3:00 & 8:30pmBaazaar (2D/Hindi) 6:30 & 11:45pm

5 Weddings 12:30, 5:00 & 9:30pm Ana And Bruno (2D/Ani-

mation) 12:30, 2:20 & 4:50 & 7:00pm; Baazaar (2D/Hindi) 9:10 & 11:55pm; Halloween (2D/Horror) 4:15, 6:40, 7:30, 8:20, 10;15pm & 0:10am; Badaai Ho (2D/Hindi) 2:30 & 7:00pm; Hal-

loween (2D/Horror) 4:15, 6:40, 7:30, 8:20, 10;15pm & 0:10am; Kayamkulam Kochunni (Malayalam) 3:50pm; Hunter Killer (2D/

Action) 3:50 & 10:30pm; Vada Chennai (2D/Tamil) 12:30 & 7:10pm

A pair of Tactical units police officers from different walks of life come together to rescue an ambassador’s daughter.

ROYAL PLAZA MALLCROSSWORD

LANDMARK

FLIK Lagoona Mall

AL KHOR

ROXY

ASIAN TOWN

A Star Is Born 1:40pm; Ana And Bruno (2D/Animation) 2:30 & 6:00pm; Goosebumps2: Haunted Halloween (2D/Comedy)

12:30, 2:20 & 6:20pm; Halloween (2D/Horror) 4:15, 6:40, 7:30, 8:20, 10;15pm & 0:10am; Hunter Killer (2D/Action)

12:20, 2:45, 4:20, 5:10, 7:55, 8:45, 9:45, 10:25, 11:05, 11:20pm & 0:20am; The Princess And The Dragon (2D/Animation)

11:20am, 12:55 & 4:25pm

HOT DOG

No-deal Brexit may prolong UK austerityBLOOMBERG

LONDON: The UK government would need new tax and spending plans and may have to extend austerity policies if it fails to secure a deal with the European Union, Chancellor of the Exchequer Philip Hammond said.

With analysis last week showing a no-deal Brexit would drag the economy to a near standstill next year, Hammond said “frankly, we’d need to have a new budget that set out a dif-ferent strategy for the future,” in that scenario.

“We would take appropriate fiscal measures to protect the economy, to prepare us for the future and to strike out in a new direction that would ensure that Britain was able to succeed whatever the circumstances we found ourselves in,” he told Sky News’s “Ridge on Sunday” on the eve of his annual budget speech.

The Bank of England may also need to take action, poten-tially through a change in interest rates, he said.

Hammond is facing pressure to end almost a decade of spending cuts that have limited public services and spurred support for the opposition Labour Party and its socialist leader, Jeremy Corbyn. The party, which is neck and neck in the polls with the Conserva-tives, said Britain must spend more than ¤100bn ($128bn) on public services to reverse the impact of a decade of austerity.

The party’s finance spokesman, John McDonnell, said Hammond appeared to want a no-deal Brexit and accused him of “complacency” over talks with the EU.

“He’s gone back on what he said. He seems to have accepted a no deal-Brexit and he does want us to be like Singapore, a

sort of tax haven which would undermine our manufacturing base,” he said on Sky after Ham-mond’s recorded interview was broadcast.

Prime Minister Theresa May has directed Hammond to find an extra 20 billion pounds a year for the National Health Service and she declared an “end to aus-terity” in her party conference speech earlier this month.

Hammond will pledge addi-tional money for adult social care and the armed forces, according to the Mail on Sunday. He’ll also announce at least 250 million pounds in funding to anchor and extend fiber net-works from schools, libraries and other state-owned property, according to the Sunday Tele-graph newspaper.

“He’s surely been given ‘mission impossible’ by the

prime minister unless we get a Brexit deal that puts jobs first,” Frances O’Grady, general sec-retary of the Trades Union Con-gress, said on the Sky broadcast.

Hardline Brexiteers like Tory lawmaker Jacob Rees-Mogg called on Hammond to announce more radical measures in his budget instead of waiting for an outcome from the EU talks.

“We should be making announcements now about how we would deal with leaving on World Trade Organization arrangements,” he said.

He urged the chancellor to cut customs duties on all goods produced outside the UK and reduce the Value Added Tax for goods that are currently higher because of EU rules, such as solar panels and female sanitary products.

Britain’s Chancellor of the Exchequer Philip Hammond (left) and Shadow Chancellor of the Exchequer John McDonnell appear on the Marr Show on BBC Television in central London.

Prime Minister

Theresa May has

directed Hammond

to find an extra 20

billion pounds a

year for the National

Health Service and

she declared an “end

to austerity” in her

party conference

speech earlier this

month.

Pakistan’s pharma sector attracts FDI worth $26m INTERNEWS

K A R A C H I : F o r e i g n investment in Pakistan’s phar-maceutical sector remains lackluster mainly due to government regulations and counterfeit drug production despite expectations of phar-maceutical-related expend-iture to double in next 10 years.

The sector attracted a paltry sum of $26.4m in foreign direct investment (FDI) during the first quarter of 2018-19. The sector sales as a percentage of GDP have consistently ranged at a meagre 1-2 per cent despite growth in volumes.

According to the Fitch Solutions’ projections, at the ongoing pace, pharmaceutical industry’s contribution to GDP will remain dormant at one per cent till 2027.

On the other hand, med-icine and drug exports have gone up during the last three years but at slower pace and remain appallingly low at $293m during FY18. Indian pharmaceutical sector, which is valued at $33bn, exports reached $17.27bn during 2017-18.

According to Fitch report, Pakistan’s pharmaceutical sector remains riddled with numerous problems including “poor governance, lack of access and unequal resources, corruption in the health system, lack of monitoring and planning, and a lack of trained staff.”

The report highlights that

“despite increasing political will to develop the health sector, given the government’s poor record of implementing planned healthcare sector reforms, there is a possibility that the implementation of such improvements will be delayed.”

Pakistan’s pharmaceutical market was valued at Rs301 billion last year.

According to forecasts, expenditure in the sector is expected to increase to Rs973bn by 2027, however, opportunities for multina-tional organisations will con-tinue to be marred by under-lying issues in the healthcare system.

In addition to that, “insuf-ficient government funding and limited access to healthcare services will prevent any significant improvements to healthcare-related outcomes.”

The report also adds that “multinational activity is to remain limited.”

The previous government, after consulting provincial departments, in April last developed the human resource for Health Vision to tackle the problem of staff shortage in the sector.

The vision, under the National Health Services Reg-ulation Ministry, seeks to create one million jobs by 2030. It also set a target to increase the number of female health workers from the current 93,000 to more than 180,000 within the next five years.

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26 MONDAY 29 OCTOBER 2018CLASSIFIEDS

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VILLA DESTE 2 (AL WAAB):�(����.���������>�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0=8=>� �:::=�08>2� ::<7�<070� �??;;�=>07����"%�'4)�����������@�����������������

BEVERLY HILLS GARDEN 10 (Al WAAB): Semi .��������� 2� �������� ����)� >� ��������� ������ �������� �����+������� ������� �� ������� ���� �������� � � �*���� ��-��� ��!�"�#$��%"&'#'"()� (�������� *����� B�������� ��������-�� *�+� ����K+�������� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0� =8=>� � ??;;� =>07� � ::<:� ;2=>� � :::2� =?;<� ��� "%�'4)�����������@�����������������

AIN KHALID GATE:� 3���+� .��������� 2� �������� ���������� 0� %����-�� �������� ����� ������� ��������� ��������������� ������ �������� ���-�� ������ �����+� ������ 0� ������������������������ ��������� � �������������-������+�������� *������ ��������� *����� ��!�"�#$� �%"&'#'"()� (��������������� �������� L������� ������� K+��� ������� L������� ���������������������������������������������������I�������������I������*��������������+����*��������+����������������������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� ::?=�870?� �::<:�:08=� � � ::<7�:7:?� � � ::<7�;2?0� ���� "%�'4)� ��������������@�����������������

BEVERLY HILLS GARDEN 2 (AL WAAB): Semi .���������2��������������)�0�%����-��B����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� ���������� ������� ������ ��������� ������ ��� *��� ��� ���+������!�"�#$� �%"&'#'"()� (�������� *����� �+��� �������� ����������������������������������������������-��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �??;;2?>?����"%�'4)�����������@�����������������

BEVERLY HILLS GARDEN 1 (AL WAAB): Semi .���������2��������������)�0�%����-��B�����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� ���������� ������� ������ ��������� ������ ��� *��� ��� ���+������!�"�#$� �%"&'#'"()� (�������� *����� �+��� �������� ����������������������������������������������-��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �??;;2?>?����"%�'4)�����������@�����������������

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AZGHAWA COMPOUND (AZGHAWA): Semi .���������2� ������������)� >� ���������� ������ �������� ������� �������������������������!�"�#$��%"&'#'"()�(�����������������������*���������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>07� 2>0= � ::<7� ;2?0� � � ??;;� 2?>?� � :::=� 08>2� ��� "%�'4)���++��������@�����������������

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REGENCY RESIDENCE AL SADD 1 (AL SADD): Fully .��������� =� �������� �)� %����-�� �������� ����� ���������������� ������ �������� ������� �� ������� ��� �� �������� � ������������� �����!�"�#$��%"&'#'"()�(��������������K+���(��� ������ L��������(���� ��������!�"�#$�("�/'�"()�02������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� � � ??;;� =>07� � >>77� 20??� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 1 (AL SADD): Fully .��������� 0� �������� �)� %����-�� �������� ����� ���������������� � ��������� ������ �������� ������� �� ������� ��� ���������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� (�������������� K+��� (��� ������ L������ �� (���� ������ ��!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� �::<:�;2=>� �:::2�=?;<� �??;;�0>72� �??;;2?>?����"%�'4)������������@������������������

REGENCY RESIDENCE ALSADD 3 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ��������������������������������������������� ������������������������������ � ������������ ��� ��!�"�#$�("�/'�"()� 02�G������������+��������������������������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)� �����������@������������������������������@������������������

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REGENCY RESIDENCE AL SADD 12 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �I��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>=;�0?2?� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@������������������

REGENCY RESIDENCE AL SADD 13 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � � ����������� � ��� ��!�"�#$� ("�/'�"()� 02� �������������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>=;�0?2?� �??;;�0>72� �::<7;0;8� �:::0�?=2; �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE MUSHEIREB 1 (MUSHEIREB): 3���+�.���������=������������������������������������������ �������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� '������(��������������K+���(�����������������L�������B����������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::8;�=802� �::7>�?8:<� �>>77�20??� �::<7�:7:?����"%�'4)�����������������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): 3���+�.���������=������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������K+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �??;;�2?>?� �:::=�08>2����"%�'4)�����������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): (����.���������0������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������K+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<7�<070� �??;;�=>07����"%�'4)�����������@������������������

REGENCY RESIDENCE AIRPORT 2 (DOHA AREA): (���� .��������� 0� �������� ��� ��������� ������� �� �������

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

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