Latest news with #QNB
Qatar Tribune
15 hours ago
- Business
- Qatar Tribune
QSE bull run continues on earnings optimism in Q2
Satyendra Pathak Doha The Qatar Stock Exchange (QSE) closed the trading week on a positive note, with the benchmark index gaining 74.83 points, or 0.70 percent, to settle at 10,759.49 points. The rally was driven by investor optimism ahead of upcoming quarterly earnings announcements from key listed companies, particularly QNB Group, which is set to unveil its second-quarter results next Wednesday. Market capitalisation mirrored the index's upward movement, increasing by 0.7 percent to reach QR635.7 billion, up from QR631.0 billion at the close of the previous week. The performance indicates growing investor confidence amid expectations of steady corporate earnings and stable macroeconomic indicators in Qatar. Out of the 53 companies traded during the week, 26 recorded gains, 24 saw declines, and three closed unchanged. The week's top performer was Mannai Corporation, which surged by 16.4 percent, reflecting renewed investor interest in diversified industrial and services firms. On the other end of the spectrum, Qatar Cinema & Film Distribution Company (QNCD) registered the steepest drop, falling by 5.9 percent, likely due to profit booking and low liquidity in the entertainment sector. Blue-chip stocks played a pivotal role in lifting the index. QNB Group (QNB), Industries Qatar (IQ), and Qatar Islamic Bank (QIB) were the top contributors to the week's gain, collectively adding nearly 70 points. QNB led the charge with a contribution of 25.93 points, followed by IQ with 21.97 points and QIB with 20.83 points. Their robust performance signals solid fundamentals in the banking and industrial sectors. Despite the index's rise, overall trading activity slowed during the week. Total traded value dropped sharply by 35.6 percent to QR1.95 billion, down from QR3.02 billion in the previous trading week. The traded volume also fell by 36.1 percent to 779.4 million shares, compared with 1.22 billion shares a week earlier. The number of transactions declined to 96,706, representing a 16.8 percent decrease from the previous week's 116,232 transactions. Baladna led both the volume and value charts, with a total traded volume of 151.9 million shares and a traded value of QR194.1 million. The dairy producer's stock remained actively traded throughout the week, driven by investor appetite for consumer staples and food security-linked stocks. On the investment front, foreign institutions remained net buyers, though at a reduced pace. They posted net purchases worth QR56.1 million, compared to a significantly higher QR730.7 million in the previous week. Qatari institutions continued to provide liquidity, recording net selling of QR30.4 million, slightly lower than their QR634.5 million net selling in the prior week. Foreign retail investors ended the week with net buying of QR8.5 million, up from QR5.8 million, while Qatari retail investors offloaded QR34.2 million in stocks. Year-to-date, global foreign institutions are net buyers of Qatari equities by $3.9 million, while GCC institutions remain net sellers by $27.1 million. In a statement to Qatar News Agency (QNA), financial market analyst Youssef Bouhlaiqa expressed confidence in the positive trajectory of the market as more listed companies are set to reveal their second-quarter earnings in the coming weeks. 'The announcement of the financial results for the second quarter, beginning with QNB Group next Wednesday, is likely to have a significant positive impact on the stock exchange's performance,' Bouhlaiqa said. 'We expect companies to post profit growth rates ranging between 5 and 7 percent, and some firms could surpass these levels, which will drive investor confidence and trading volumes upward.' Bouhlaiqa also emphasised the growing influence of artificial intelligence (AI) tools in shaping modern investment strategies. He noted that AI-based models are increasingly being adopted by institutional and retail investors alike to analyse market trends and optimise portfolio decisions. Commenting on local investment dynamics, Bouhlaiqa observed that local portfolios have remained cautious in recent weeks despite the market's upward momentum. However, he highlighted the importance of recent strategic initiatives such as the launch of the $200 million Fiera Qatar Equity Fund by the Qatar Investment Authority (QIA) in collaboration with Fiera Capital. The fund, dedicated to investing in shares of Qatari listed companies, is seen as a key instrument for enhancing market liquidity, broadening the investor base, and supporting Qatar's asset management sector. On the other hand, foreign investment portfolios have shown increasing dynamism, with several institutional investors signaling interest in acquiring Qatari equities. Bouhlaiqa said this trend is expected to gain further momentum as earnings reports continue to be released, offering clarity on company performance and market valuations. Concluding his weekly market review, Bouhlaiqa noted the resilience and cohesion of the QSE's general index, which has remained stable in the face of global economic uncertainties and regional geopolitical developments. He reiterated that the upcoming earnings season, combined with strategic investments and AI-enhanced analytics, could provide a fresh catalyst for the Qatari market in the second half of the year. The upcoming weeks are expected to be crucial in shaping investor sentiment and setting the tone for the rest of 2025, as market participants await earnings results and reassess their portfolio strategies accordingly.
Zawya
a day ago
- Business
- Zawya
Qatar aims to develop pioneering open banking ecosystem, says QFC report
Doha seeks to develop a pioneering ecosystem that expands open banking capabilities, supported by advanced frameworks and API (application programming interface) platforms, according to a Qatar Financial Centre (QFC) report. 'This will enhance the regulatory environment and support digital banking, crowdfunding, and emerging technologies,' QFC said in its Islamic Finance Report. Highlighting that QNB launched its open banking platform in 2022; it said this platform, the first of its kind in Qatar and one of the first in the region, allows customers, partners, and fintechs to securely access the bank's core systems, enabling a seamless banking experience. In May 2024, QNB expanded its open banking services to corporate clients, further enhancing its offerings. QNB's partnership with Ooredoo on the Ooredoo Money service exemplifies successful open banking and fintech collaboration. Open banking is a financial services model that allows third-party service providers to access consumer data from traditional banking systems through APIs. Open banking has the potential to revolutionise the country's financial services sector as it allows new entrants into the market, open up new opportunities for startups and fintechs. The QFC report said open banking can benefit Islamic banks by enabling personalised, Shariah-compliant financial products and fintech solutions, such as real-time Zakat calculation apps. By using APIs to aggregate financial data from multiple sources, Islamic banks can offer tailored Shariah-compliant investment portfolios, including products like sukuk and equity funds. This integration can enhance customer experience and financial inclusion, and drive innovation in Islamic financial products, it said. Open banking is rapidly transforming the financial landscape in the GCC (Gulf Co-operation Council) region. This trend involves financial institutions granting third-party providers access to consumer-banking transactions, and other financial data through APIs, according to the report. Open banking securely integrates a bank's core financial services with its partners', facilitating data sharing and payments between organisations. This integration enables the creation of new financial products and services, enhancing customer experience and fostering innovation the report said. Leveraging fintech partnerships and open banking initiatives will drive digital transformation and innovation in the Islamic banking sector going forward, while expanding sustainable Islamic banking offerings will support Qatar's decarbonisation and just transition efforts, according to the report. Further advancing their digital transformation agendas, Islamic banks have begun integrating more advanced technologies such as AI or artificial intelligence, machine learning, and blockchain into their operations. Banks in Qatar have begun to embrace open banking as a crucial initiative to enhance customer satisfaction. By launching open banking platforms, these institutions are providing an enhanced banking experience to their customers, as well as partners and emerging fintech players in Qatar, a PricewaterhouseCoopers study had said. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Zawya
27-06-2025
- Business
- Zawya
Qatar National Bank suspends share buyback, to resume on July 10
Doha: Qatar National Bank (QNB) Group said that in accordance with Qatar Financial Markets Authority regulations, QNB will not conduct its share repurchase during the closed period commencing from 25 June 2025 to 9 July 2025, due to the upcoming publication of QNB Group's interim financial results for the six months period ending 30 June 2025. QNB will recommence its share repurchase from 10 July 2025, QNB said in a statement published on Qatar Stock Exchange website. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
African Manager
22-06-2025
- Business
- African Manager
China is set to be resilient to global trade shocks
The year started for China with a positive tone on the back of a turnaround in private sector sentiment, driven by a more supportive economic policy mix, optimism around the country's capabilities on artificial intelligence (AI), and a stabilization in manufacturing activity. Importantly, this came after years of subdued investor appetite and volatile growth on the back of real estate wounds, regulatory stringency, limited official stimulus, and the trauma from hard pandemic lockdowns. Such positive outlook and turnaround translated into stronger activity and constant upgrades in growth expectations since September 2024. However, global macro prospects were suddenly shaken by a radical shift in US trade policies in February, when president Trump announced a massive increase in import tariffs. China, in particular, was singled out by the US with 'embargo like' 140% tariffs and much less room for exemptions. After bilateral negotiations started, tariffs were reduced to a more manageable but still high 40% rate. Despite this major shock, China's economy appears to be resilient. In fact, across major economies, China seems to be the least affected by growth expectations downgrades since US tariffs 'Liberation Day,' even if the country is by far the largest exporter globally. 2025 growth expectations downgrades (Bloomberg consensus, % real GDP growth for the year) Sources: Bloomberg, QNB analysis In our view, three main factors sustain a more optimistic economic take on China in the face of the US policy shock. First, despite being the world's largest exporter and a key node in global manufacturing, the overall impact from US tariffs on China's growth is very limited. This is largely due to the declining importance of the US as an export destination and Beijing's strategic reorientation of trade flows. In the early 2000s, the US accounted for nearly 20% of Chinese exports, but this share has declined to around 15% in recent years, equivalent to around 2.8% of the country's GDP. Exports grew stronger in markets such as Southeast Asia, the EU, and Belt and Road countries, helping to offset US-driven losses. Moreover, exports themselves have been declining in overall importance to China's economic model, now contributing less than 20% to GDP – compared to 35% in 2006 – amid a policy-led pivot toward domestic consumption, high-tech innovation, and services. These structural shifts, coupled with adaptive trade strategies, have helped insulate China from the full brunt of Trump-era tariffs, reducing their macroeconomic impact and sustaining the country's external surplus. Chinese exports of goods in perspective (USD Bn, total for 2024) Sources: Haver, QNB analysis Second, tariffs are blunt tools in a world of fragmented supply chains, and China's central role in global production networks has significantly diluted their effectiveness. Unlike the bilateral trade flows of the past, modern goods cross multiple borders during assembly, making it hard to isolate national value added. Multinational firms adapt quickly, shifting final assembly to third countries while maintaining Chinese inputs through transhipment. These workarounds often outpace enforcement, undermining the intent of protectionist policies. Additionally, a substantial share of Chinese exports – such as critical components in electronics, machinery, and pharmaceuticals – are not easily substitutable and remain essential to US firms and supply stability. As a result, tariffs are unlikely to trigger reshoring and China is expected to retain its role as an indispensable link in global manufacturing. Third, US tariffs are expected to be offset by the devaluation of the Chinese renminbi (RMB), particularly in real effective terms, which is enhancing China's price competitiveness globally. Since the escalation of the 'trade war' in February, the RMB has weakened against the USD, but even more so against a broader basket of currencies, resulting in a meaningful depreciation of China's real effective exchange rate (REER). This has lowered the relative cost of Chinese exports in non-USD markets, helping Chinese firms gain market share globally despite higher US tariffs. The REER adjustment acts as an automatic stabilizer for China. In effect, the RMB's adjustment is helping to preserve or even increase external demand, ensuring continued export surplus, further underscoring the limitations of unilateral trade barriers. All in all, China's growth prospects this year remain moderately robust despite continued trade tensions. This is due to a structural decline in US export dependence, the ineffectiveness of tariffs in a globalized supply chain environment, and the competitive tailwind from a weaker RMB collectively cushioning the Chinese economy from material external shocks.
Business Insider
19-06-2025
- Business
- Business Insider
Africa's poorest country faces $1 billion battle in U.S. court over war-era loan default from Qatar
Qatar National Bank (QNB) has taken legal action against South Sudan in a U.S court, seeking to enforce a $1 billion arbitration award after the country defaulted on a wartime loan. Qatar National Bank (QNB) has initiated legal action in the U.S. to enforce a $1 billion arbitration award against South Sudan South Sudan defaulted on a $700 million wartime loan from QNB, which has accrued additional debt due to penalties and interest. South Sudan's civil war severely impacted the economy, reducing GDP significantly and causing widespread challenges The petition, filed in a U.S court in Washington, D.C., follows South Sudan's failure to repay a $700 million loan obtained from Qatar during the height of its civil war, a debt that, with interest and penalties, has now ballooned to over $1 billion. The original loan was intended to stabilize South Sudan's fragile economy during a period of intense internal conflict. However, nearly a year after an international tribunal under the International Centre for Settlement of Investment Disputes (ICSID) ruled in favor of QNB, South Sudan and its central bank have reportedly neither paid the award nor challenged it. QNB's move to seek enforcement in the U.S. has revealed the growing frustrations over the lack of compliance and highlights how sovereign debt disputes are increasingly playing out on global legal stages. According to the International Monetary Fund (IMF), South Sudan had the lowest GDP per capita in 2025, making it one of the poorest countries in Africa. Thus, the $1 billion court case with Qatar National Bank (QNB) over an unpaid wartime loan reflects the severity of the country's economic crisis. If the U.S. court agrees to uphold the award, South Sudan could face asset seizures or further diplomatic pressure to meet its obligations. The South Sudan war The South Sudanese civil war, which ran from December 2013 to February 2020, began as a political clash between President Salva Kiir and former Vice President Riek Machar, but quickly turned into an ethnic conflict between the Dinka and Nuer. Coming just two years after independence in 2011, the war exposed the country's weak institutions and deep divisions. Beyond the human cost of over 400,000 deaths and millions displaced, the economy lost more than $28 billion in GDP between 2013 and 2018. Oil production which is South Sudan's main revenue source, plunged, inflation soared, and public services collapsed as the war devastated infrastructure and drove away investors. The loan dispute South Sudan's loan dispute with Qatar National Bank (QNB) began after independence in 2011, when the country secured credit to fund essential imports. Shortly after becoming a nation in 2011, South Sudan and its central bank secured loans from QNB to fund critical imports such as food, medicine, and refined oil. When the civil war erupted in late 2013 and oil revenues collapsed, QNB extended additional credit, including a $250 million top-up. By 2015, South Sudan began defaulting, prompting two debt renegotiations. The final 2018 agreement consolidated the loans into a $700 million, 15-year facility, with repayments set to begin in March 2019. After drawing down about $659.8 million, South Sudan missed its first payment, triggering a formal arbitration process. QNB filed a claim in 2020 under ICSID rules. Following hearings in London, the tribunal ruled in January 2024 that both South Sudan and its central bank had breached the loan terms. A final award issued in May ordered them to pay over $1.02 billion, including principal, interest, and legal costs. Despite the ruling, QNB says South Sudan has neither paid nor contested the award. According to court filings reviewed by SudansPost, QNB argues that under U.S. law and the ICSID Convention, the arbitration award must be enforced 'like a final court judgment. ' The bank says South Sudan waived any sovereign immunity t hrough its contract and ICSID membership.
