PAGE | 24PAGE | 22

Ooredoo’s datacentre turns 10 this year

BUSINESSBUSINESSBoE Governor ready to serve full term

Tuesday 1 November 2016

10,172.95+30.78 PTS

0.30%QE

$47.12$47.12-1.58-1.58

6,954.22 -42.04 PTS

0.60%

FTSE100 BRENT

Dow & Brent last closing price

The Peninsula

Qatar Petroleum (QP) announced yesterday the establishment of Ocean LNG Limited, for the purpose of marketing its future interna-

tional LNG supply portfolio sourced outside of the State of Qatar.

The decision to establish a market-ing entity to manage its future LNG supply portfolio sourced outside of Qatar was driven by its aspirations to continue to be a global LNG leader, and to invest in LNG projects outside Qatar, QP said.

A branch office of Ocean LNG Lim-ited will be established in the Qatar

Financial Centre (QFC) in Doha to man-age and undertake the activities of Ocean LNG, reinforcing Doha’s position as the world’s LNG capital.

Saad Sherida Al Kaabi (pictured), President & CEO of Qatar Petroleum said “QP aspires to be one of the leading energy companies in the world, and LNG forms one of the cornerstones of these aspirations. As such, it is crucial for us to establish a global LNG marketing arm that will be instrumental in monetising opportunities that Qatar Petroleum will be pursuing and capturing outside Qatar.”

Commenting on the occasion, Al Kaabi added: “Qatar Petroleum’s

position as a global LNG leader has and will continue to face challenges, but our perseverance and proven track record of success are a true testament to our ability to adapt to an ever changing industry landscape while maintaining our leadership position and our core val-ues and commitment towards our customers. We will pursue market development opportunities in emerg-ing and new markets and will establish LNG’s full potential, leveraging on our strengths and expertise and our under-standing of the LNG market.” Ocean LNG Limited is a joint venture company owned by a QP affiliate (70 percent) and an ExxonMobil affiliate (30 percent).

QP establishes Ocean LNG Limited Aiming high

The decision was driven by its aspirations to continue to be a global LNG leader & to invest in projects. The venture is owned by affiliates of QP & ExxonMobil.

A branch office will be established at QFC to manage activities, reinforcing Doha’s position as the world’s LNG capital.

Sachin Kumar The Peninsula

Construction and real estate sectors have sent the max-imum number of cases to

Qatar International Centre for Conciliation and Arbitration (QICCA). The Centre has wit-nessed an annual rise of around 20 percent in the number of cases of commercial disputes.

“In the centre (QICCA), we witnessed a considerable increase in the number of cases in the last few years. The rise was significant in terms of amount of money involved,” Dr. Minas Khatchadourian, Coun-sellor, Qatar Chamber. “Every year,we have witnessed increase of 20 percent compared to pre-vious year. Last year we received 275 cases involving over QR1bn, where the highest amount was QR200m while the lowest amount was QR30,000,” he added.

Arbitration is a form of alter-native dispute resolution mechanism where parties to a dispute seek the resolution out-side the courts and is preferred by many as a way to resolve commercial disputes.

It has significant advantages over litigation in court, such as lower cost and shorter time to resolution, flexibility and pri-vacy. Usually companies stuck in a commercial dispute do not like to get unneccessary public-ity and seek privacy in settlement.

Construction and Real Estate sectors are in the top for send-ing the most number cases to the Arbitration Centre because a project involves a long chain of parties to finish the project.

“In the last five years, one the most important sectors that witnessed lot of disagreements were Costruction, Real Estate and Finance. It is because they are all related to how you can finance a project for develop-ment of a real estate,” said Khatchadourian.

“Once the party has funds it starts by bringing a main con-tractor. This main contractor cannot finish work by himself and he has to work with sub contractors. The sub contrac-tor needs to by goods from suppliers. So your find there is a chain of contractors. In every contract there are two parties or more and these parties are always working with arbitra-tion clause in their contracts. If they fail to settle dispute within themselves, the case come to the Arbitration Centre,” he added.

“Arbitration in Qatar is reg-ulated by a law which dates back to 1990 the law has become obsolete and there is need to modernise the provi-sions of the law. We have already asked the Ministry of Justice to help us modernise this law,” said Khatchadourian.

QICCA sees rise in dispute casesDispute data

20%

275

Every year, QICCA witnessed an increase of 20% in number of cases compared to previous year.

Last year, QICCA received 275 cases involving over QR1bn, where the highest amount was QR200m.

Dubai

Reuters

The creation of a single currency in the Gulf Arab region has become inev-

itable and is only a matter of time, the Executive President of Oman’s Central Bank was quoted as saying.

Oman is not one of the countries pushing for a com-mon currency, but “serious

measures” are being studied to achieve it, the Saudi Ara-bian-owned Al Sharq Al Awsat newspaper quoted Hamood Sangour Al Zadjali as saying in a statement. Omani officials were not immediately availa-ble yesterday to comment on the report, and it was not clear whether Zadjali’s remarks sig-nalled any new momentum for the region’s single currency project. The creation

of monetary union became a primary objective of the six members of the Gulf Cooper-ation Council in the early 1980s. Four of them - Qatar, Saudi Arabia, Kuwait and Bah-rain - formed a joint monetary council and a forerunner to a Gulf central bank in March 2010. Oman withdrew from the plan in 2006 and the United Arab Emirates pulled out in 2009.

Gulf single currency inevitable: Oman

18,163.21+2.02 PTS

0.01%DOW

24

ernor serve

22 TUESDAY 1 NOVEMBER 2016 BUSINESS

The Peninsula

Ooredoo’s Qatar Data Centre (QDC) will mark ten years of service at the end of 2016, and the com-

pany is set to launch a major campaign highlighting its contri-bution to the development of Qatar’s knowledge-based econ-omy and key role in nurturing future solutions.

Officially launched in 2006, the Qatar Data Centre was the first facility in Qatar to offer busi-nesses a full suite of enterprise services. It has evolved into one of the most important technol-ogy assets in Qatar’s drive to become a truly “smart” nation, supporting a wave of break-through technologies and delivering total control and secu-rity for customers’ digital and data assets.

Data Centre’s ten year anni-versary campaign will highlight the facility’s role in enabling Qatar’s growth. In addition, it will promote the company’s plans to evolve Qatar Data Centre’s role in the onward growth and devel-opment of ICT in Qatar for the future.

Growing from a single site in

2006, the Data Centre is now hosted in five locations across Qatar with a total space of around 60,000 square feet, connected by Cloud technology and pow-ered by the award-winning Ooredoo Supernet.

It has developed into a glo-bal facility, using strategic partnerships to provide custom-ers with access to more than 30 data centres in nine countries, reflecting the international tra-jectory of Qatar’s most important businesses.

“The Ooredoo Data Centre has proved to be an incredibly versatile facility, enabling com-panies to design, deploy, and manage systems, networks and applications,” said Yousuf Abdulla Al Kubaisi (pictured), Chief Oper-ating Officer, Ooredoo Qatar. “It has ensured business continuity and delivered stable growth for many of Qatar’s strategic enter-prises. As we head towards our

tenth anniversary and celebrate one of the most successful years in the facility’s history, we are launching a special campaign to celebrate its and our customers’ shared achievements,” he added.

Qatar Data Centre facilities have been designed in compli-ance with Tier-3 standards and provides local and regional organisations with a full range of services including Hosting & Co-location, Cloud Services, Data Backup & Restoration, Managed

Storage, Email and Web Security and more. In-line with its strat-egy to become an ICT engine for Qatar and the region, Ooredoo continues to support the launch of new breakthrough technolo-gies for customers. A new range of ‘Managed Services’ is now available, which can manage, maintain and monitor all hosted customer infrastructure, business services, and applications.

In addition, Ooredoo has announced major enhancements to its data centre portfolio, including the ‘Ooredoo Coloca-tion Service’ which helps customers to safeguard servers, applications and data with the highest levels of security, the ‘Ooredoo Managed Storage Serv-ices’ which provides data storage with data protection for server systems, and Managed Backup and Storage Services, which allow customers to copy, protect, and secure mission-critical data.

Ooredoo data centre turns 10 this year Smart drive

From a single site in 2006, QDC is now hosted in 5 locations across Qatar with a total space of around 60,000 square feet.

Its anniversary campaign will highlight the facility’s role in enabling Qatar’s growth.

The Peninsula

QATAR Stock Exchange (QSE) will host the Annual Confer-ence and meetings of the Arab Federation of Exchanges (AFE), which will be held in Doha April 25-28 next year.

The AFE Conference in Doha will host 20 Arab exchanges and financial markets.

Delegates attending the AFE Annual Conference 2017 will include financial services firms as well as world-class speakers and panelists, on an international and regional level, providing highly relevant and interactive content and addressing all the important issues within the Exchanges industry for all stakeholders involved, under one roof.

The first day of the meetings will include the Executive Committee meeting and the AFE Board meeting as well as the meetings of the financial services institutions and the AFE General Assembly meeting.

The Annual Conference and awards ceremony will take place in the second day of the event.

Rashid bin Ali Al Mansoori, CEO of Qatar Stock Exchange, has expressed his pleasure to host the AFE Annual Conference and meetings in Doha and stressed the keenness of Qatar Stock Exchange to contribute to achieving success and reflecting the leading role of Qatar in h o s t i n g A r a b a n d international conferences and events.

QSE to host AFE meet next year

The Peninsula

Consolidated Gulf Company (CGC), a leading integrated technology solution provider

in the Middle East, has announced the appointment of Haitham Ahmad (pictured) as its Group General Manager. He will lead CGC’s Qatar and global operations to accelerate the company’s achievements, growth and expansion.

Speaking on the occasion, Munther Khalid, CEO, CGC, said, “Haitham joins us to strength our efforts in maximising the compa-ny’s operational efficiency within the framework of the market and customer needs and to build a sus-tainable foundation of growth and expansion in all operation territo-ries. Haitham Ahmad expressed his

pleasure on becoming a part of Qatar’s prime technology solution and service provider. “I am looking forward positively to accomplish CGC’s goals by maintaining our commitments and values towards our esteemed clients and employ-ees. Together as Team we will make the difference in meeting the needs of our customers. Customer focus and satisfaction are in the top of my targets and agenda.”

Haitham carries a wealth of over 26 years of international and regional experience with major industry players.

Group GM of CGCThe Peninsula

Gulf Air, the national carrier of the Kingdom of Bahrain, recently

commenced a five-month training course for the air-line’s global network of representatives – bringing Gulf Air Country Managers to Bahrain to take part in a com-prehensive programme that will equip them with the req-uisite tools and skills to better achieve their tasks, positively enhance their knowledge base and support their work abroad.

Gulf Air Chief Executive Officer Maher Salman Al Musallam said: “We are con-tinually exploring how best

to deliver training and devel-opment opportunities to all members of the Gulf Air fam-ily in order to support our organization and ensure that all our markets, across the globe, have the best possible representation and that our colleagues in each destina-tion are given the capabilities to succeed. Training and development is a constant process, helping us build upon the experience and knowledge of our workforce – an integral tool to ensure Gulf Air flourishes and remains on the cusp of latest developments globally.”

Gulf Air collaborated with the Arab Air Carriers Organ-ization (AACO) to provide

course contents and materi-als which included a variety of topics such as compe-tency-based development, airport route development and commercial manage-ment, IATA airlines sales strategies and strategic mar-keting planning. With both in class study and self-learning, the training course is set to enrich Gulf Air Country Man-agers with soft skills and technical knowledge enhanc-ing their competencies amongst various competitors in their home markets.

With over 50 percent of the airline’s total workforce being Bahraini, Gulf Air leads the way amongst its regional competitors.

Gulf Air conducts training course

23TUESDAY 1 NOVEMBER 2016 BUSINESS

The Peninsula

The Qatar Financial Centre (QFC) Author-ity has issued a licence to The Insti-tute of Internal

Auditors Qatar to provide pro-fessional services. Raed Al Emadi, Chief Commercial Officer at the authority, issued the licence to IIA President, IIA said in a statement yesterday.

“As per the agreement, the IIA chapter is expected to per-form relevant activities to serve members and foster the devel-opment of internal audit in Qatar. The licence will facilitate accelerating training and learn-ing activities” stated Sundaresan Rajeswar, IIA spokesperson. The new entity with QFC is named “The Institute of Internal Audi-tors Doha Chapter LLC (G).”

The chapter is set to launch

various trainings in the coming months starting with a full day training on Enterprise Risk Management (ERM) and an evening session on “Innovation” in November, a full day event with President & CEO of the IIA Global Richard Chambers in December. There will also be session on soft skills and coaching for Certified Internal Audit Examinations planned during this period.The IIA, an international professional association established in 1941 is based in Florida, US. With its global network of 180,000 individual members in nearly 170 countries from all industries and sectors.

The IIA is recognised throughout the world as the internal audit profession’s glo-bal voice, chief advocate, recognized authority, acknowl-edged leader, and principal

educator, the internal audit pro-fession's leader in certification, education, research, and tech-nical guidance.

IIA Qatar has been the offi-cial and exclusive representative of The Institute of Internal Audi-tors in Qatar since June 2003, said official.

IIA Qatar gets QFC licence Key benefits

The licence will accelerate training & learning activities. It is named The Institute of Internal Auditors Doha Chapter.

Session on soft skills and coaching for Certified Internal Audit Examinations will also be there.

An IIA official receiving the licence from QFC Authority officials.

DOHA

Reuters

Qatar’s Nebras Power plans to acquire a 35.5% stake held by French utility Engie in Indonesia’s largest

independent power producer PT Paiton Energy by the end of 2016, the CEO of Nebras said.

The Qatari infrastructure investment firm, 60 percent owned owned by Qatar Elec-tricity and Water, with the remainder split between Qatar Petroleum and Qatar Holding, said in February it planned to acquire the stake in PT Paiton. Engie currently has a 40.5 per-cent stake, with the remainder held by Japan’s Mitsui, Tokyo Electric Power, and Indonesia’s PT Batu Hitam, according to Engie’s website.

“The Paiton project we are in the process of closing now. We are targeting the end of this year,” Khalid Jolo told Reuters. Jolo declined to comment on the value of the stake but Nebras Power’s chairman, Fahad al-Mohannadi, told state news agency QNA in October that it planned to invest $1.35 billion in Indonesia’s Paiton project for producing electricity.

Qatar, the world’s biggest liquefied natural gas producer, founded Nebras in 2014 as a $1 billion investment arm to add foreign power and water assets

to stakes it already had in busi-nesses from Volkswagen to Harrods department store in London. It has invested in solar power projects in Jordan and acquired a stake in the Oman-based Phoenix Power Company.

Nebras is studying the fea-sibility of building a power plant in Senegal, Jolo said. “We are trying to develop a project there. Once it [the feasability studies] are approved we’ll go ahead with that project,” he said. Jolo said Nebras would decide by 2017 whether to invest in a 500 megawatts natural gas-fired power plant that it said last year it was considering building with Indonesian utility PT PLN (Persero).

Nebras to buy Engie’s stake in Indonesia

Strategic deal

35.5%

40.5%

Nebras to acquire a 35.5% stake held by French utility Engie in Indonesia’s power producer PT Paiton.

Engie currently has 40.5% stake. Nebras to invest $1.35bn in the project for producing electricity.

The Peninsula

RASHID bin Ali Al Mansoori, CEO of Qatar Stock Exchange (QSE) will participate in the 56th General Assembly and Annual Meetings of the World Federation of Exchanges (WFE). The meetings will take place from tomorrow in Cartagena, Colombia.

In a statement issued by the WFE , the event, hosted by Bolsa de Valores de Colombia (BVC), will see more than 300 delegates, repre-senting more than 200 global exchange and CCP institu-tions, with a public programme of 16 key note speeches and panel sessions, in addition to member-only sessions for the Working Committee and Board.

There are four key note speeches on day one of the conference: Mauricio C�rde-nas, Minister of Finance and Public Credit, Colombia; Arunma Oteh, OON, Treas-urer and Vice President of the World Bank; Kay Swinburne, MEP; and Robert Cox, Vice President of Financial Mar-kets at the Federal Reserve Bank of Chicago. Panel ses-sions that day include discussions around Brexit, Distributed Ledger Technol-ogy (DLT) and exchange consolidation. Day two includes key note speeches from Daniel Coleman, CEO, KCG, and Tajinder Singh, Deputy Secretary General, International Organization of Securities Commissions (IOSCO).

Qatar Stock Exchange CEO to attend 56th WFE meetings

24 TUESDAY 1 NOVEMBER 2016 BUSINESS

BoE Governor ready to serve full termLondon

Reuters

Bank of England Gov-ernor Mark Carney (pictured)is leaning towards deciding to serve a full eight-

year term, despite critics calling for him not to extend his time in charge of the British central bank, according to news reports.

Carney, who has come under fire from supporters of Brexit for his stance in the EU referendum campaign, has said he will announce by the end of the year whether he will take up an option to stay at the Bank until 2021 rather than stick to his cur-rent departure date in mid-2018.

Carney is due to hold a quar-terly BoE news conference on Thursday and could make an announcement on his decision then.

The Financial Times reported the Canadian, who joined the BoE in 2013, was

ready to serve a full eight-year term instead of five. The BBC also said people close to Carney believed he was leaning towards staying for eight years. Those reports contrasted with others in newspapers over the week-end that said Carney was more likely to announce that he would leave in 2018.

The Sunday Times said Car-ney was unhappy with British Prime Minister Theresa May's office and had a closer

relationship with former finance minister George Osborne, who had recruited him, than with the current minister Philip Hammond.

Earlier this month, May took the unusual step of criticising the Bank of England's low interest rates, prompting push-back from Carney who said he would not be told how to do his job by politicians.

The governor is expected to confer with May and Hammond before making a decision, the FT reported. Last week, Carney said his decision whether to stay

would be based on personal rather than political considera-tions, and he would need to find some time to make up his mind.

Carney continues to be crit-icised by supporters of Brexit for warning before the June 23 Brexit vote of the likely hit to be Britain's economy from a vote to leave the European Union.

Daniel Hannan, a pro-Brexit Conservative member of the European Parliament and a per-sistent Carney critic, told BBC radio that the governor needed to avoid getting involved in political issues.

"It's up to him (whether he extends his stay) but if he does stay it's got to be on the basis that he's not the rock star banker who presumes to tell Scotland whether to stay in Britain, which way to vote, and rather sticks narrowly to his brief," Hannan told BBC radio. But others have rallied behind Carney. Martin Sorrell, chief executive of the world's biggest advertising group WPP.

Regional stock markets rise as Saudi and Qatar gainDubai

Reuters

Major stock markets in the Middle East rose slightly yesterday, outperform-

ing sluggish bourses in Asia and Europe, as Saudi banks contin-ued rebounding on the back of October's huge international bond issue by their government.

Qatar gained 0.3 percent. Telecommunications operator Ooredoo closed 3.1 percent higher after initially falling when it reported a 51 percent drop in third-quarter net profit to QR370

m($101.6m); the average forecast of analysts polled by Reuters was QR499.3m.

The bond issue has allowed the government to suspend, at least temporarily, domestic bond sales and, in conjunction with other steps, this has started to ease a liquidity crunch in the banking system due to low oil prices. Short-term Saudi money rates have fallen in the last two days. That has sustained a rally in the stock market, where the main index climbed for a ninth straight trading day yesterday, gaining 0.6 percent in active trade. It has surged 10.1 percent

during the nine-day period, although it is still 10.3 percent below its July peak.

The banking sector index added 0.5 percent as the biggest lender, National Commercial Bank, rose 0.7 percent. On Sun-day it had rocketed 7.7 percent in its heaviest trade since July 2015. Among other gainers, telecom-munications firm Zain Saudi and miner Ma'aden both rose 3.5 per-cent. As money flowed into such stocks, the petrochemical sector underperformed, edging up only 0.2 percent.

A monthly Reuters poll of fund managers, published

yesterday, found 36 percent expect to increase their

allocations to Saudi equities over the next three months, and 14 percent to reduce them. That is the most bullish balance for Saudi Arabia since July, and com-pares to ratios of 14 percent and 29 percent in September's sur-vey. Elsewhere, Dubai's index rose 0.4 percent as Emaar Prop-erties climbed 0.9 percent. But courier Aramex dropped 3.8 per-cent after its third-quarter earnings came in at the low end of expectations.

Aramex reported a 3 percent fall in profit to 72.2m dirhams ($19.7 million). EFG Hermes and SICO Bahrain had forecast 75.8

million dirhams and 77.1 million dirhams. Abu Dhabi's index added 0.3 percent on the back of the two biggest banks, which plan to merge early next year. National Bank of Abu Dhabi climbed 2.3 percent and First Gulf Bank 1.8 percent.

In Egypt, the index climbed 0.3 percent, although exchange data showed foreign investors were net sellers by a large mar-gin as the Egyptian pound continued to slide against the US dollar on the black market. Three currency traders were buying dollars yesterday for 17.5 to 17.85 pounds.

Bond sales

The bond issue has allowed the government to suspend, at least temporarily, domestic bond sales.

Aramex reported a 3 percent fall in profit to 72.2m dirhams.

London

Reuters

Gold dipped yesterday as the dollar rebounded after recent losses,

though concerns over the out-look for the US election and Federal Reserve policy kept the metal pinned near the previous session's three-week high.

The metal hit its highest since October 4 on Friday after the Federal Bureau of Investi-gation announced another investigation into Democratic presidential candidate Hillary Clinton's use of a personal email server while she was secretary of state.

That shook up markets that had priced in a Clinton victory over Republican Donald Trump, prompting losses in stocks and the dollar.

Spot gold was down 0.3 percent at $1,272.33 an ounce at 1230 GMT. US gold futures for December delivery fell by $3.20 to $1,273.60. Spot prices remain within $15 of Friday's high, however.

"People had been presum-ing the election was a done deal for Clinton," said Natixis ana-lyst Bernard Dahdah.

"If this means her lead is reduced, the gold market could b e n e f i t f r o m t h a t uncertainty."

October U.S. payrolls data on Friday will be of great inter-est this week, he said, while markets are looking for point-ers on policy when the Fed meets on Tuesday and Wednesday.

"We're not expecting a rate

hike in November, but we'll belooking at the language,"

Dahdah said. "That could be a mover." While hardly anyone expects Fed Chair Janet Yellen and other Fed policymakers to move only a week before the Nov. 8 election, they appear to have left themselves the December meeting to deliver a rate rise in 2016. Gold is highly sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.

Speculators raised their net long positions in COMEX gold for the first time in four weeks in the week to Oct. 25 and cut it slightly in silver, US Commod-ity Futures Trading Commission data showed on Friday.

Among other precious met-als, silver was up 0.4 percent at $17.81 an ounce but poised to post a monthly decline.

Platinum was down 0.2 percent at $976.49 and set to record its third consecutive monthly drop while palladium , down 0.4 percent at $617.30, was heading for its biggest-monthly drop since November, down 14 percent.

The current price weakness in platinum group metals is driven by speculaion wih no justification from fundamen-tals, Commerzbank said in a note.

"The downward pressure on palladium from ETF (exchange-traded funds) sales appears to be easing. We there-fore continue to see palladium at $625 per troy ounce at year's end."

Commercial Bank hosts Career Fair Day

The Peninsula

Commercial Bank hosted Career Day with the Min-istry of Labour and Social

Affairs to promote the Qatari employment opportunities. in the bank Commercial Bank through its National Develop-ment Programme supports Qatar’s National Vision 2030 by developing human capital and works closely with the Ministry

to provide advanced careers opportunities for Qataris.

The recruitment and train-ing of Qatari nationals is a business priority for Commer-cial Bank and offers several career development pro-grammes to launch young Qataris’ careers. Participation at the Ministry of Labour Career Day confirms Commercial Bank’s commitment to employ, guide and train young Qataris

to become the next generation of highly skilled banking lead-ers in Qatar. Commercial Bank regards CSR as integral to its business in support of Qatar’s development in line with the the country's National Vision 2030.

Commercial Bank strives to be an outstanding corporate cit-izen by supporting local and international socio-economic initiatives that benefit Qatari society as a whole.

Young Qataris who attended Commercial Bank's Career Fair

Gold dips as dollar bounces; focus on US polls and Fed

US consumer spending strong in Q3Washington

Reuters

US consumer spending rose more than expected in September as house-

holds boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an inter-est rate hike from the Federal Reserve in December.

The Commerce Department said yesterday that consumer spending, which accounts for about 70 percent of US economic activity, increased 0.5 percent after dipping 0.1 percent in August.

Last month's rise in con-sumer spending offered a fairly strong handoff from the third

quarter to the current quarter.The report was published

ahead of the start of the Fed's two-day policy meeting on Tuesday. The U.S. central bank is not expected to raise rates at this meeting, which comes about a week before the Nov. 8 presi-dential election, but is expected to do so in December. "The lat-est data should be of comfort to the Fed. Spending continues to underpin growth and, combined with positive developments on the labor market and inflation, should enable the Fed to tighten policy in December," said Greg Daco, head of U.S. macroeco-nomics at Oxford Economics in New York.

Economists had forecast consumer spending rising 0.4

percent last month. When adjusted for inflation, consumer spending rose 0.3 percent after falling 0.2 percent in August. The spending figures were incorpo-rated into last Friday's report on third-quarter gross domestic product.

Consumer spending increased at a 2.1 percent annual pace after advancing at a robust 4.3 percent rate in the prior period.

A separate report on Mon-day showed factory activity in the U.S. Midwest hit a five-month low in October amid declining production and weak growth in new orders.

The report from the Institute for Supply Management-Chicago suggests prolonged weakness in

manufacturing as the sector con-tinues to deal with the aftermath of a dollar rally.

US stocks were trading mar-ginally higher as investors showed caution ahead of next Tuesday's elections. The dollar .DXY rose against a basket of currencies, while US Treasury yields fell.

Consumer spending com-bined with a spurt in soybean exports and a turnaround in inventory investment to boost economic growth to a 2.9 per-cent pace in the third quarter. The economy grew at a 1.4 per-cent rate in the April-June quarter.

Rising wages due to a tight-ening labour market should help support consumer spending.

Traders see remote chance of Fed rate hikeNew York Reuters

Traders on Monday placed a low probability the Fed-eral Reserve would raise

interest rates at its policy meet-ing later this week amid mixed economic data and ahead of the US presidential election, according to interest rates futures. They put about a 3-in-4 chance the U.S. central bank would increase the target range on their policy rates by a quar-ter point to 0.50-0.75 percent at its December 13-14 meeting.

While the world's biggest economy is hardly firing on all cylinders, U.S. gross domestic product produced a stronger-than-expected 2.9 percent annualized growth rate in the third quarter, analysts said.

"Investment is still some-what sluggish, consumption

continues to grow solidly, and this adds up to GDP growth trending near 2 percent," Credit Suisse chief economist James Sweeney wrote in a research note yesterday.

He added recent remarks from some Fed policymakers hinted a rate increase is likely in the near future.

Meanwhile, news that the FBI is planning to review more emails related to Democratic presidential candidate Hillary Clinton's private server, just a week before the Nov. 8 elec-tion, have reduced earlier expectations of a Clinton victory.

Federal funds futures implied traders saw a 6 per-cent chance the Fed would raise rates at its two-day meeting that kicks off on Tuesday, , compared with a 8 percent chance late on Friday.

Under fire

Carney is due to hold a quarterly BoE news conference on Thursday and could make an announcement on his decision then.

Carney continues to be criticised by supporters of Brexit.

QSE listed companies profit at QR 31.2bnDoha

QNA

WITH the end of disclosure period for the third quarter of 2016, forty three companies out of the forty four listed companies at Qatar Stock Exchange (QSE) have disclosed their financial statements results for the nine month period ended September 30, 2016, The combined net profit of all companies as of September 30, 2016 amounted to QR31.2bn versus QR 34.9bn for the corresponding period in 2015, a decreases of 10.7%.

Vodafone Qatar was not i n c l u d e d i n t h e announcement of the third quarter financial results as its financial year starts on April 1st and ends on March 31st of each year.

25TUESDAY 1 NOVEMBER 2016 BUSINESS

A customer views a display featuring Apple Watch Nike+ at an Apple Store in the SoHo neighbourhood of Manhattan, in New York City. Friday marked the release of the Apple Watch Nike+, a sports-focused smartwatch with a retail price starting at $369.

Apple Watch Nike+ goes on sale

Shell & Vitol boost UAE crude storage

Royal Dutch Shell and trading house Vitol are stepping up their operations in the port of Fujairah to store Iraqi crude as production

from the Opec member rises, industry sources said.Iraq is Opec's second largest producer after

Saudi Arabia and its output has almost doubled since the start of the decade at 4.7m barrels per day (bpd).

With a target of 5.5-6m bpd by 2020, Iraq wants to be exempt from the cartel's bid to boost oil prices with production cuts to reduce a global surplus.

Located on the east coast of the United Arab Emirates at the entrance to the Strait of Hormuz, Fujairah is one of two major ports in the region along with Oman's Sohar and is a busy refuelling point for tankers taking crude on long voyages out ofthe Gulf.

The emirate is keen to boost its status as a global trading hub by increasing its port storage capacity from 10m cubic metres to 14m cubic meters by 2020. Traditionally, it focussed on fuel to power tankers and refined oil products.

Shell leased five large crude storage tanks at the port last year to take advantage of low oil prices for the play, industry and trading sources said. Shell is an equity partner in Iraq's Majnoon oilfield.

"The storage tanks were built specifically according to Shell's requirements," a trading source in Fujairah said.

"Shell wanted to avoid any fluctuations in production out of Iraq. So far they are the only ones who have a contract with (storage company) Vopak to bring crude using the new jetty," another trading source said.

Iceland's capital curbs could be lifted Reykjavik

Reuters

Iceland's remaining capi-tal controls are likely to be completely removed dur-ing the course of next year, its central bank governor

said on Friday.Capital controls were

imposed after the 2008 finan-cial crisis to save the crown from collapse. But, though these have given the economy some time to recover, the restrictions have left the country and its busi-nesses isolated.

The Nordic island, which holds a general election on Sat-urday, this month took an early step to dismantling curbs when parliament passed a law lifting restrictions on local residents and companies from the begin-ning of next year.

Now, central bank governor Mar Gudmundsson (pictured) said in an interview on Friday, the remaining restrictions could be gone by the end of 2017.

"As things stands now, it is quite possible that by this time next year we can say Iceland doesn't have any capital controls anymore," Gudmundsson said.

"(We need) to have an ade-quate level of foreign exchange

reserves, to have a resilient financial sector that can with-stand potential volatility ... It is going in the right direction, but these are early days," Gud-mundsson said. One of the original reasons for keeping restrictions on funds and high earners was to ensure there was no sudden rush of money out of the country that could then destabilise the economy.

Now, with the highest inter-est rates in western Europe - a 5.25 percent interest rate com-pared with negative rates in the euro zone, parts of Scandinavia and Switzerland - cash is flow-ing into Iceland, not out.

"We don't want this money, we don't need this money at this point in time ... The high inter-est rate is not in order to attract capital, which imposes a finan-

cial stability risk to us," he said.The bank, he said, had

implemented regulations and tools like restrictions on deposit-taking in foreign branches and was working to introduce limits on forex exchange imbalances and lending to 'unhedged' borrowers.

"Most of the prudential tools that we want to have in place before lifting the capital controls are in place," Gudmundsson said.

Iceland has been run by a centre-right coalition though Saturday's election could bring the anti-establishment Pirate Party to power. Parties on all sides have pledged, however, not to block the lifting of capital controls.

However, Iceland remains deadlocked with U S funds

Autonomy Capital, Eaton Vance, Loomis Sayles and Discovery Capital Management, whose fro-zen bonds are worth roughly 10 percent of Iceland's annual eco-nomic output, after they spurned what they saw as low govern-ment offer to unlock them back in June.

"We are not in this game in order to impose any kind of hair-cut or anything like that," Gudmundsson said. "And we have to remember that the off-shore and onshore markets are separate markets and that they have different exchange rates."

"It is obvious that if we are going to buy the positions from them, either in a tender or through other means that it takes two to tango meaning that there will be some kind of interaction further down the road."

In a bid to avoid a disorderly exit of the some $1.4bn crown-denominated bonds, nicknamed 'Glacier bonds', bought during the crisis and trapped in Iceland ever since, the central bank has held currency auctions to reduce the amount. In June, the four key foreign funds chose not to accept the final 190 crowns per euro offer by the central bank, com-plaining that it would have meant them taking heavy losses on the bonds.

Mideast funds bullish on Saudi Arabia after mammoth bond issueDubai

Reuters

Middle Eastern funds have become more positive towards Saudi Arabian

equities after the kingdom's mammoth international bond sale earlier in October, while they are losing confidence in Egypt, a monthly Reuters poll found.

The poll of 14 leading fund managers, conducted over the past week, found 36 percent expect to increase their allocations to Saudi equities over the next three months, and 14 percent to reduce them.

That is the most bullish

balance for Saudi Arabia since July, and compares to ratios of 14 percent and 29 percent in September's survey.

The $17.5bn bond issue, a record for an emerging market economy, drew huge demand and was priced more tightly than expected. By itself, the proceeds will not make much difference to the economy, but fund managers said Riyadh's success in opening another overseas funding channel was a positive signal.

"My take on it is that it lifted a great worry that external factors would hamper Saudi's efforts to close their budget gap," said Talal Samhouri, head

of asset management at Amwal Qatar.

"With the great reception, I believe this issue will pave the way for future issuance not only by the government but by other Saudi corporates, especially banks where there are still need for liquidity."

Several managers noted that the Saudi economy continued to face tough times because of austerity due to low oil prices, but added the bond issue was to some extent a vote of confidence in Riyadh's ability to handle the slump, as well as a sign that geopolitical risks in the region were not seen as prohibitive. Sachin Mohindra,

portfolio manager at Abu Dhabi's Invest AD, said the issue could have a broadly constructive impact on Saudi equities in the long term. "Although challenges still remain, the enthusiasm with which the bond issue was received suggests bond investors are confident that Saudi will be able to navigate through short-term challenges, and that a reasonably strong growth story would emerge into the long term."

Many managers, however, said international risks - partic-ularly in the United States, where investors believe a Donald Trump presidency could be

destabilising - would limit any fund flows into Saudi or Gulf markets for now.

"We see caution among many investors from possible effects of international events, specifically the US elections inNovember and the expected decision by the US Fed to raise

interest rates by 25 basis points in December," said Mohammad

Ali Yasin, head of asset man-agement at Abu Dhabi's NBAD Securities.

Investors are "keeping lots of liquidity waiting on the side-lines awaiting the passing of those events and their out-comes", he said.

Fund flow

Now, with the highest interest rates in western Europe cash is flowing into Iceland, not out.

Iceland remains deadlocked with US funds Autonomy Capital, Eaton Vance and Loomis Sayles.

Bond issuance

$17.5bn

36%

The $17.5bn bond issue drew huge demand and was priced more tightly than expected.

Fund managers expect to increase their allocatons to Saudi Arabia

GE to merge oil division with Baker HughesNew York Bloomberg

General Electric Co. agreed to combine its oil and gas business with Baker

Hughes Inc. as the companies seek to bolster their operations amid the global slump in crude prices.

GE will own a 62.5 percent stake in the combined entity, which will be publicly traded, the companies said yesterday in a statement. GE will contribute

$7.4 billion to fund a special div-idend of $17.50 a share to Baker Hughes stockholders.

Oilfield contractors are increasingly forming partner-ships to help cut costs and broaden their service offerings and distribution channels amid the downturn.

The moves have come into favor as customers seek ways to improve efficiency and get greater value out of the services and gear needed to suck crude out of the ground.

The deal comes after GE held talks earlier this year about buying pieces of Baker Hughes set to be divested under a sale of the Houston-based company to Halliburton Co., a transaction that collapsed.

By joining forces, Baker Hughes and GE are betting they can compete more effectively with the world’s top oilfield-services provider, Schlumberger Ltd., which recently bought equipment-maker Cameron International

Hedge funds ditch bullish US gas betsLondon

Reuters

Hedge funds jettisoned bullish bets on US natural gas after

prices plunged 15 percent in a week, the steepest drop in a year.

Money managers cut their net-long position in gas contracts by 6 percent, the most since August. Long wagers slipped 5 percent in the week ended Oct. 25 while bearish bets fell 1 percent, according to US Commodity Futures Trading Commission data.

Gas prices collapsed after surging to a 22-month high in October, signaling concern that another balmy winter will pare demand for the heating fuel and leave behind a stockpile glut that would weigh on the market next year. A drop in gas production from shale reservoirs may prove temporary as explorers put rigs back to work.

“We’ve seen an exodus of long positions from the gas market,” said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut. “The forecasts are showing above-normal temperatures for the remainder of the month.

Honda profits up on cost-cuttingTokyo

AFP

Japanese automaker Honda said yesterday its cost-cutting efforts boosted profits even

as overall revenue slumped, allowing it to upgrade annual profit forecasts in the face of a higher yen.

Sales dropped on-year for the six months to September owing to the stronger Japanese currency, the company said.

But an increase in global vehicle sales and savings from cost-cutting, including accounting changes to its pension programme, helped stem the impact.

Tokyo-based Honda said it now expects a net profit of 415 billion yen ($3.96 billion) for the full year to March 2017, up from an earlier estimate of 390 billion yen. The fresh estimate marks a 20.5 percent jump from the firm's net profit in the year to March 2016.

The upgrade, however, fell short of the 491.8 billion yen average forecast by 20 analysts compiled by Bloomberg News. Honda also upgraded its operating profit forecast.

"The yen's strength remains a major factor to squeeze earnings in the Japanese auto sector," Shigeru Matsumura, analyst at SMBC Friend

Research Center, said before the announcement.

A higher yen eats into exporters' bottom lines by making their products relatively more expensive overseas, while reducing the value of their overseas earnings when repatriated.

It said the scandal at supplier Takata, whose defective airbags are linked with at least 16 deaths in the industry's biggest-ever safety recall, impacted its earnings but that it could still not yet provide a full accounting. Honda is Takata's biggest airbag customer.

Honda's net profit for the first six months rose 12.1 percent from the same period in 2015 to 351.8 billion yen. Operating profit jumped 22.5 percent.

Revenue, however, fell 8.1 percent to 6.7 trillion yen and its latest forecast sees it hitting 13.40 trillion yen for the year, down from a previous projection of 13.75 trillion yen.

Sales volume for vehicles in the key North American market, Europe and Asia all rose, but Japanese sales continued to fall, Honda said.

The increased profit and higher forecasts came as Honda recovers from damage to factories in the southern Kyushu region of Japan.

QATAR STOCK EXCHANGE

26 TUESDAY 1 NOVEMBER 2016 BUSINESS

INTERNATIONAL MARKETS - A LIST OF SHARES FROM THE WORLD

A C C-A/d 1518.9 -0.3 6298

AARTI DRUGS-B/d 678 9.1 2777

ABAN OFFS-A/d 267.85 0.1 68561

ADOR WELDING-B/d 313.5 2.25 2400

AEGIS LOGIS-B/d 158.7 0.35 16268

ALEMBIC-B/d 42 0.7 26135

ALKYL AMINES-B/d 340 0.3 6907

ALOK INDUS-A/d 3.44 0.02 412619

APOLLO TYRE-A/d 201.5 -0.45 37654

ASHOK LEYLAND-/d 91.35 1.1 675591

BAJAJ HOLD-A/d 2222 49.25 1310

BALLARPUR IN-B/d 16.82 0.35 113822

BATA INDIA-A/d 483.85 2.7 7903

BEML LTD-A/d 936.5 -4.35 3616

BH ELECTRONIC-/d 1328.3 26.7 16007

BHANSALI ENG-T/d 29.1 0.85 1273672

BHARAT BIJLE-B/d 838.85 16.35 3058

BHARATGEARS-B/d 136.8 -7.15 9763

BHARTIYA INT-B/d 565.05 -1.6 2662

BHEL-A/d 138.8 -0.05 119371

BOM.BURMAH-B/d 600 -4.9 7736

BOMBAY DYEING-/d 57.75 0 83233

CAMPH.& ALL-B/d 740 21.95 1504

CANFIN HOMES-B/d 1862 38.6 2389

CAPRIHANS-XC/d 105.75 3.65 20178

CASTROL INDIA-/d 457.45 -0.85 19779

CENTURY ENKA-B/d 328.65 -0.3 27240

CENTURY TEXT-A/d 943.5 34.5 80828

CHAMBAL FERT-B/d 64.1 1.1 56604

CIMMCO-B/d 75.55 2.35 3826

CIPLA-A/d 577.35 2.9 16383

CITY UNION BK-/d 150.4 1.15 18020

COLGATE-A/d 970 -2.95 8261

DAI-TICHI KAR-/d 552.05 4.95 1941

DCM FINANCIA-B/d 2.18 0.1 3412

DCM SHRAM IND-/d 227.1 2.45 1902

DHAMPUR SUGAR-/d 123.15 0.75 10075

DR. REDDY-A/d 3324.95 -35.25 3966

E I H-B/d 110.15 -1.05 7876

E.I.D PARRY-A/d 269.7 0.75 31338

ELECTROSTEEL-B/d 27.65 0.15 66277

EMCO-B/d 32.65 0.5 16568

ESCORTS FIN-B/d 15.86 0.02 7045

ESCORTS-A/d 376.1 0.95 50216

EVEREADY INDU-/d 260 6 18448

F D C-B/d 227.5 2.45 2172

FEDERAL BANK-A/d 82.4 0.3 187145

FERRO ALLOYS-B/d 9.09 0.82 334288

FINOLEX-A/d 463.9 13.2 3769

FORBES-B/d 2239 52.55 1533

GAIL-A/d 432.05 -1.05 17416

GALADA POWER-B/d 11.35 0.98 3094

GAMMON INDIA-T/d 15.8 0.35 19036

GARDEN P -B/d 33.85 0.35 6385

GODFREY PHIL-B/d 1437.45 -21.1 1988

GOODRICKE-B/d 227.8 8.55 35417

GOODYEAR I -B/d 760 2.3 5242

HCL INFOSYS-B/d 53.6 -0.65 490832

HIM.FUT.COMM-T/d 15.36 0.18 246331

HIMAT SEIDE-B/d 281.2 -3.3 5473

HIND MOTORS-T/d 9.9 0.23 237905

HIND ORG CHEM-/d 24.5 -0.1 26529

HIND UNILEVER-/d 840.25 2.05 14571

HIND.PETROL-A/d 468.5 2.3 28486

HINDALCO-A/d 149.8 0.2 92926

HOUS DEV FIN-A/d 1375.25 -12.85 13436

I F C I-A/d 26.05 0 103783

IDBI-A/d 73.7 0.15 124109

IFB AGRO-B/d 466.9 7.95 2325

IFB IND.LTD.-B/d 541.5 2.65 1238

INDIA CEMENT-A/d 158.4 1.35 171795

INDIA GLYCOL-B/d 142 4.15 9471

INDIAN HOTEL-A/d 118.15 2.75 80251

INDO-TCOUNT-T/d 832.35 9.65 4653

INDUSIND-A/d 1196 -5.1 5428

J.B.CHEMICAL-B/d 389.1 2.6 1754

JAGSON PHAR-B/d 42 0.7 5574

JAMNAAUTO-B/d 228.5 2.8 26561

JBF INDU-B/d 243 7.15 6142

JCT LTD-B/d 7.25 0.14 220455

JENSON&NICH.-B/d 9.4 -0.22 8887

JINDAL DRILL-B/d 197.95 -2.85 1862

JKTYRE&IND-A/d 141.95 1.2 28074

KABRA EXTR-B/d 139.2 0.5 5297

KAJARIA CER-A/d 626.95 6.5 4943

KAKATIYA CEM-B/d 376 0.95 5955

KALPAT POWER-B/d 255.5 5.35 4400

KALYANI STEL-T/d 321.8 2.75 9702

KANORIA CHEM-B/d 91 0.65 46191

KG DENIM-B/d 100 1.45 36707

KILBURNENGG-XD/d 56.9 3 11982

KINETIC ENG-XC/d 95.65 3.85 2469

KOPRAN-B/d 60.5 -0.05 23812

LAKSHMI ELEC-B/d 491.8 14.35 9432

LAKSHMI MACH-A/d 4298 17.05 2741

LLOYD METAL-XC/d 13.1 1.4 102460

LUMAX IND-B/d 972.45 31.35 2016

LUPIN-A/d 1517.9 27.6 21407

LYKA LABS-T/d 67.05 -0.45 8494

MAFATLAL IND-B/d 360 7 2561

MAH.SEAMLESS-B/d 264.5 1.05 6207

MAHA SCOOTER-B/d 1981.7 35.9 1282

MANGALAM CEM-B/d 353 3 1479

MARAL OVERS-B/d 33.35 -0.1 5912

MASTEK-B/d 150.75 3 21339

MAX FINANCIAL-/d 561.25 0.15 9412

MRPL-A/d 92.15 1.55 48951

NAGREEKA EX-B/d 37.45 -0.1 4550

NAGREEKA EX-B/d 37.45 -0.1 4550

NAHAR SPG.-B/d 132.65 -0.2 4963

NATION ALUM -A/d 54.5 1.15 309309

NAVNEET EDU-B/d 112.7 3.25 25561

NRB BEARINGS-B/d 129 1.85 2333

O N G C-A/d 289.95 2.05 173096

OCL INDIA-B/d 943.55 4.65 3096

OIL COUNTRY-B/d 34.4 0.65 7157

ORCHID PHARM-B/d 36.85 -0.1 54847

ORIENT HOTEL-T/d 27.75 0.55 3863

OUDH SUGAR-B/d 108.45 0.55 2848

PUNJAB CHEM.-B/d 217.5 6.45 8575

RADICO KHAIT-B/d 141.6 0.3 36214

RADICO KHAIT-B/d 141.6 0.3 36214

RALLIS INDIA-A/d 225.1 4.8 16035

RALLIS INDIA-A/d 225.1 4.8 16035

RELIANCE INDUS/d 415.8 -2.1 13690

RUCHI SOYA-B/d 23.15 0.3 17061

SAMTEL-XT/d 6.68 0.02 7500

SAUR.CEM-B/d 73.5 0.45 25149

TANFAC INDUST-/d 47.65 1 4383

TANFAC INDUST-/d 47.65 1 4383

THIRUMALAI-B/d 920.7 50.3 137635

TIL LTD.-T/d 294.3 12.6 13535

TIMEXGROUP-T/d 62.9 4.6 448290

TINPLATE-B/d 84.4 0.4 5902

UCAL FUEL-B/d 224.15 8.2 44659

UCAL FUEL-B/d 224.15 8.2 44659

ULTRAMARINE-B/d 203 5.05 34460

UNITECH P -A/d 6.09 0.11 993898

UNIVCABLE-B/d 86 0.3 4903

UPPERGSUGAR-T/d 361.2 0.15 4657

3I GROUP/d 670.6 6 757511

ASSOC.BR.FOODS/d 2465 -42 224368

BARCLAYS/d 191 -0.3 11727984

BP/d 484.7 -7.45 5346413

BRIT AM TOBACC/d 4716.5 9 1061333

BT GROUP/d 375.5 -3.25 2865976

CENTRICA/d 213.764 -0.5 2945487

GKN/d 316.3 1.1 1035579

HSBC HOLDINGS/d 619.6 -4.9 11626158

KINGFISHER/d 360.6 -2.7 1654619

LAND SECS GROU/d 983 -9 451294

LEGAL & GENERA/d 210.17 -1.7 4258754

LLOYDS BNK GRP/d 57.3 -0.44 60666125

MARKS & SP./d 339.5 -7.2 2287899

NEXT/d 4803 -171 398454

PEARSON/d 757.5 -4.5 482730

PRUDENTIAL/d 1353.5 -15 3279552

RANK GROUP/d 192.4 -2.8 19674

RENTOKIL INITI/d 228.05 -1.2 690896

ROLLS ROYCE PL/d 726 -8.5 1010668

RSA INSRANCE G/d 548.5 -2.5 299794

SAINSBURY(J)/d 249.9 -4.1 3390823

SCHRODERS/d 2821 -25 52090

SEVERN TRENT/d 2312 2 152419

SMITH&NEPHEW/d 1193 -16 528291

SMITHS GROUP/d 1423 -4 383749

STANDRD CHART /d 715.5 13 2205496

TATE & LYLE/d 780.75 4.5 522391

TESCO/d 214.15 -1.6 4297878

UNILEVER/d 3418.89 -24 503625

UNITED UTIL GR/d 935.5 -2.5 372087

VODAFONE GROUP/d 225.65 -1.8 13455304

WHITBREAD/d 3610.5 -28 150411

COMPANY CLOSE NET VOLUME NAME CHG TRADED

COMPANY CLOSE NET VOLUME NAME CHG TRADED

COMPANY CLOSE NET VOLUME NAME CHG TRADED

COMPANY CLOSE NET VOLUME NAME CHG TRADED

COMPANY CLOSE NET VOLUME NAME CHG TRADED

LONDON

QE Index 10,172.95 0.30 %

QE Total Return Index 16,459.15 0.30 %

QE Al Rayan Islamic Index 3,740.03 0.04 %

QE All Share Index 2,808.56 0.30 %

QE All Share Banks &

Financial Services 2,863 0.15 %

QE All Share Industrials 3,063.57 0.26 %

QE All Share Transportation 2,490.11 3.97 %

QE All Share Real Estate 2,266.11 0.93 %

QE All Share Insurance 4,591.73 1.85 %

QE All Share Telecoms 1,183.2 2.36 %

QE All Share Consumer

Goods & Services 5,835.45 0.50 %

QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES

GOLD AND SILVER

31-10-2016 Index 10,172.95

Change 30.78

% 0.30

YTD% 2.46

Volume 10,197,327

Value (QAR) 421,876,211.61

Trades 4,672

Up 17 | Down 19 | Unchanged 0430-10-2016 Index 10,142.17

Change 229.00

% 2.21

YTD% 2.75

Volume 7,824,803

Value (QAR) 310,873,045.14

Trades 3,209

GOLD QR149.5009 per grammeSILVER QR2.0938 per gramme

Index Day’s Close Pt Chg % Chg Year High Year LowAll Ordinaries 5402.442 31.544 0.59 5691.8 4762.1

Cac 40 Index/D 4519.71 -28.87 -0.63 4607.69 3892.46

Dj Indu Average 18161.19 -8.49 -0.05 18668.4 15450.6

Hang Seng Inde/D 22934.54 -20.27 -0.09 24364 18278.8

Iseq Overall/D 5913.58 -18.6 -0.31 6791.68 5286.65

Karachi 100 In/D 39893.84 20.96 0.05 41688.57 29785

Nikkei 225 Ind/D 17425.02 -21.39 -0.12 18951.12 14864.01

S&P 500 Index/D 0 0 0 2193.81 1810.1

EXCHANGE RATECurrency Buying SellingUS$ QR 3.6305 QR 3.6500

UK QR 4.4059 QR 4.4686

Euro QR 3.9625 QR 4.0179

CA$ QR 2.6970 QR 2.7502

Swiss Fr QR 3.6606 QR 3.7123

Yen QR 0.0344 QR 0.0351

Aus$ QR 2.7450 QR 2.8001

Ind Re QR 0.0541 QR 0.0551

Pak Re QR 0.0344 QR 0.0351

Peso QR 0.0745 QR 0.0760

SL Re QR 0.0244 QR 0.0251

Taka QR 0.0460 QR 0.0469

Nep Re QR 03390 QR 0.0346

SA Rand QR 0.2666 QR 0.2720