page 21 nov 03 - the peninsula...nov 02, 2016 · indian hospitality to create an ... frauds, money...
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Qatari retailers urged to stay competitive
BUSINESSBUSINESSTata empire split
in two; Mistry stays chairman of units
Thursday 3 November 2016
Qatar Airways wins three Magellan Awards
Qatar Airways has received three prestigious hon-ours at the 2016 Travel Weekly Magellan Awards held in New York recently. Gold, the highest hon-
our, was awarded to Qatar Airways for its International Business Class experience on the A350 aircraft, and Silver was awarded for its International Economy Class as well as its A350 and Going Places Together brand campaign.
Qatar Airways was the global launch customer of the A350, Airbus’ latest, most technologically advanced aircraft in the world, and currently operates 12 in its fleet of more than 190 aircraft. Qatar Airways was the first to fly the A350 to three continents, and currently operates the aircraft from Doha to Boston, New York, and Philadelphia in the United States.
“We are thrilled to be honoured by the panel of experts gathered by Travel Weekly, and we are deeply appreciative of this recognition by our industry’s experts," said Salam Al Shawa, Senior Vice President of Marketing and Corporate Communications, Qatar Airways. "Qatar Airways brand campaign, Going Places Together, reflects the attitude we bring to the travel experience – we want to be part of our passengers’ journey, to experience the transformative power of travel with them. It is truly an honour to be recognised by your peers, and I extend my congratulations to the other award winners this year," added Al Shawa.
Qatar Airways introduced its new brand campaign, Going Places Together, in New York in December 2015, to rave reviews; culminating with this most recent Travel Weekly Magellan Silver Award.
Dow & Brent before going to press
Jet Airways increases Doha-Mumbai route capacitySachin Kumar The Peninsula
Jet Airways, India’s premier international airline, has introduced a wide body air-
craft on Doha-Mumbai route that will offer around 40 percent more seating capacity compared to the narrow body aircraft.
“The wide-body jetliner with a two-cabin configuration of 18 seats in Premiere and 236 in Economy has begun flying between Doha and Mumbai from October 30. Aside from increas-ing capacity on the popular route, the spacious cabin will allow guests to travel in greater comfort,” Colin Neubronner, Senior Vice President- Sales and Marketing, Jet Airways told The Peninsula in an interview yesterday.
The narrow body aircraft has 12 seats in Premiere and 156 seats in Economy Class. Going forward the company is likely to introduce wide body aircraft on other routes. Jet Airways cur-rently operates daily flights from Doha to Delhi, Mumbai, Kochi, Kozhikode and Thiruvanan-thapuram. “It is our constant endeavour to create a
consistent, unmatched travel experience for our guests. Deploying the A330 gives us an opportunity to combine on-board luxury with our signature Indian hospitality to create an exceptional value proposition for our guests,” said Shakir Kanta-wala, VP Gulf, Middle East & Africa, Jet Airways.
“Jet Airways is a preferred brand in the highly competitive Indo-Gulf market and offers unparalleled service and qual-ity to guests. We are confident
that introducing the A330 will help us establish ourselves as the airline of choice on the route,” he added.
Onboard the A330, guests will get a taste of Jet Airways’ award winning in-flight experi-ence, enhanced cabin comfort, and, for our Premiere guests, a chance to stretch out in comfort in our famed ‘Bed in the Clouds’.
Set in a unique herringbone layout, each of the 18 seats in the Premiere cabin electronically open out to a 180-degree flat bed
with lumbar support and mas-sage systems. Every Premiere seat is an aisle seat which offers guests privacy and comfort to work and rest.
“Deploying a wide bodied A330 will facilitate a higher number of guests from Doha to connect seamlessly onto Jet Air-ways’ extensive domestic network and beyond to interna-tional destinations from the airline’s hubs in Delhi and Mum-bai,” said Anshad Ebrahim, Country Manager-Qatar.
Shakir Kantawal (left), Colin Neubronner (centre) and Anshad Ebrahim (right) briefing about Jet Airways' future plans in its office at D Ring Road. Pic: Qassim Rahmatullah / The Peninsula
Qatar's Q2 GDP
at QR135.37bnThe Peninsula
Qatar’s Gross Domes-tic Product (GDP), at current prices, for the Second quarter of 2016 (Q2 2016) was
estimated at QR135.378bn. The country’s GDP, when compared on quarterly basis, has wit-nessed an increase of 2.7 percent, in the second quarter against the previous quarter (Q1 2016), data released by the Min-istry of Development Planning and Statistics show.
Real GDP, calculated at 2013 constant prices in order to eliminate the effects of price changes, showed that, in vol-ume terms, GDP grew by 2 percent over Q2 2015 and increased by 2.5 percent over the previous quarter (Q1 of 2016), according to the seven-teenth edition of the ‘Window on Economic Statics of Qatar (Q2-2016)’ released by the Min-istry. The Gross Value Added (GVA) contribution of the Min-ing and Quarrying sector, which include Oil and Gas industries, for Q2, 2016, was estimated at QR40.29bn, which witnessed a
decline of 34 percent when compared with Q2, 2015. How-ever, when compared against the previous quarter (Q1 of 2016), it registered an increase of 6.5 percent in Q2, 2016.
This drop, in nominal val-ues, was attributed to the fall in the international price levels of crude oil, and to a reduction in volume. In real terms, Mining and Quarrying sector posted a decline of 1.2 percent over Q2, 2015, and an increase of 3.4 per-cent over previous quarter.
Mohammad Shoeb The Peninsula
With the ever growing level of cyber attacks, sharing information
about the types of threats, col-laborative approach can be the only effective way to fight against these humongous nature of new crimes, said a prominent security expert from the UK.
Experts suggest that while conventional levels of crimes are fought, new forms of criminal activities are rising at an alarm-ing rate. Cyber crimes, online frauds, money laundering, and terrorism have grown rapidly, which are posing an increasing level of danger to all.
Lord Stevens (pictured), former Head of Metropolitan Police (UK), in his address at the
opening session of the 3rd Infor-mation Security Conference, highlighted that the world con-tinues to change with regard to cyber criminality at the back-drop of social transformation, including global economic downturn, increasing migration, widening inequality and impact of social media.
“In the previous edition of this conference, we agreed that we are facing storm of increas-ing threat in relation to cyber crimes. However, I think we have been conservative in our estimation given the enormous scale of cyber crimes we have witnessed over the last one year,” said Lord Stevens, who is considered to be the most respected Metropolitan Police Commissioner in modern times.
“Information sharing is
crucial with regard to fight against the nature of cyber attacks that we are facing today. The defence has to be collabo-rative and clever the way it is designed. The only way to do this is through sharing information about the types of threats faced and the technical defences
developed”, he added. He said that financial institutions and government agencies are no longer the only target of cyber criminals. In whichever sector big money is involved they are the target of such crimes.
He noted there have been attacks on big companies which are household names and hav-ing vital information about millions of people. “Within the last year, we have had 35,000 customers’ credit card data sto-len… The largest data attack in history came when Yahoo con-firmed this year that information associated with 500 million user accounts had been stolen.”
The former top cop, said that the breaches on this scale, with the sensitivity of the informa-tion taken, are “extremely worrying”.
London Reuters
Gold rallied to a one-month high yesterday as uncer-tainty over the outcome
of the US election knocked stocks and the dollar lower and burnished the appeal of precious metals as a haven from risk.
Investor anxiety over the elec-tion after the renewal of an FBI probe into Democratic candi-date Hillary Clinton’s emails knocked European stocks to near four-month lows and sent the dollar to its weakest since October 11 yesterday. Spot gold hit a peak of $1,304.72, its high-est since October 4, and was up
1.1 percent at $1,302.20 an ounce at 1435 GMT. US gold futures for December delivery were up $15.40 an ounce at $1,303.40, off an earlier high of $1,306.10. A Reuters/Ipsos opinion poll on Monday showed Clinton held a five percentage point lead over Trump, but other polls showed-her lead slipping more sharply.
Broadcom, whose chips are used in Apple Inc.’s iPhone and TV set-top boxes, agreed to buy Bro-cade Communications Systems for $5.9bn includ-ing debt to capitalise on booming demand for cloud computing and the data centers that deliver it.
Collaboration must to fight cyber crime: Expert
Gold rallies to one month high Broadcom to buy Brocade for $5.9bn
Growth momentum
2.7%
2%
Rise in Qatar's GDP at current prices in Q2 compared to Q1 of 2016.
Rise in real GDP at constant prices in Q2 compared to Q2 in 2015.
17,987.21 -49.89 PTS
0.28%
10,073.03-128.87 PTS
1.26%
DOWQE
$45.16$45.16-1.51-1.51
6,845.42 -71.72 PTS
1.04%
FTSE100 BRENT
The Peninsula
For the second year in a row, Halul Offshore Services Company, the marine off-
shore services arm of Milaha (Qatar Navigation), has won the prestigious Offshore Marine Award for Owners and Opera-tors at The Seatrade Maritime Awards for the Middle East, Indian Subcontinent, and Africa. The award comes in recognition of Halul Offshore’s performance and accomplishments in a year of turbulence for the maritime and marine offshore industries.
Abdulrahman Essa Al-Man-nai, President and CEO of Milaha, the parent company of Halul, said: “We are very pleased to see our hard work recognized by the judging panel of
the Seatrade Maritime Awards during a challenging year for the shipping industry. This award is a strong motivation for us and our team at Halul Offshore and the rest of the Milaha group to
give the best we can on a daily basis.”
For his part, Vivek Seth, CEO of Halul Offshore, added: “I would like to dedicate this award to our fantastic team at Halul
Offshore who worked day and night to provide safe and relia-ble operations throughout the year.
We saw many milestones happening this year with the delivery of the Milaha Explorer liftboat, the opening of our Sin-gapore office, and the achievement of 5 million work-ing hours without a major incident. We are very glad that to see this diligence recognized.”
Now in its 14th chapter, the Seatrade Maritime Awards for the Middle East, Indian Subcon-tinent, and Africa event was held under the patronage of His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman of Dubai Maritime City Author-ity (DMCA)
The Peninsula
Qatar Islamic Bank (QIB) has announced the win-ners of the final round of
the “Win Back Your Spend” summer promotion. The eligi-ble customers used their QIB credit and debit cards domes-tically and internationally between June 20 and Septem-ber 30, 2016.
The winners were selected in a draw conducted in the presence of an official repre-sentative from the Ministry of Economy and Commerce and QIB representatives.
The final draw winners included five QIB Visa credit and debit cardholders who made international purchases, and five customers who used their QIB Visa credit cards in Qatar. All customers who spent a minimum of QR 5,000 using their QIB Visa debit or credit cards during the aforemen-tioned period were eligible to enter the draw. One lucky grand prize winner received QR50,000. The customers received their spend back – up to QR 15,000.
QIB also announced two winners from the final draw who used their QIB MasterCard debit cards internationally. Tamayuz and Private Banking customers who spent a mini-mum of QR5,000 using their Platinum and World Master-Card debit cards during the promotion period were auto-matically eligible to enter the draw. The 2 selected winners received their total interna-tional spends back up to QR 25,000.
One lucky grand prize win-ner received QR 75,000 as spends back.
With this second and final announcement of the “Win Back Your Spend” Summer Campaign draw winners, a total of 26 customers holding QIB’s cards have benefited from the 2016 summer campaign prizes.
QIB offers a wide range of Debit and Credit cards, all with a variety of valuable features tailored to meet the needs of different customers. With cash-less convenience and the ability to withdraw cash or instantly pay for purchases, all of QIB’s cards are accepted locally and internationally – and can be used at millions of merchant outlets and more than 1.8 mil-lion ATMs globally.
QIB Platinum and World Debit Cards have been designed with the needs of the Bank’s Tamayuz and Private custom-ers in mind, and offer exclusive privileges to complement their lifestyle. These include Takaful and warranty extensions, dis-counts and offers when dining and shopping, 24/7 Interna-tional Concierge Service.
The QIB cards also offer exclusive discounts and promo-tions at various premium brands in Qatar.
22 THURSDAY 3 NOVEMBER 2016 BUSINESS
Final round
The final winners included five QIB Visa credit and debit cardholders who made international purchases.
One lucky grand prize winner received QR50,000. The customers received spend back.
Halul Offshore officials receiving the award.
Developed debt market key to Qatar's financing needsThe Peninsula
The continued investment in Qatar’s infrastructure and other developmental
projects has increased the need for new sources of funding with long-term maturities. This can be partially addressed through the issuance of long-term debt instruments, Dr R Seetharaman (pictured), Group CEO of Doha Bank said yesterday.
Delivering the key note address on “Developing Corpo-rate Debt Market” at a
conference jointly hosted by Qatar Financial Markets Author-ity (QFMA) and International
Capital Market Association (ICMA) here yesterday Dr Seetharaman noted the low oil prices may affect diversification and infrastructure development funding and hence debt is the ideal solution for Qatar’s infra-structure development needs.
Highlighting various key reforms that Qatar implemented in its financial markets, he said:” Based on various reforms brought in recent years, in May 2014, the MSCI upgraded the Qatar indices to an emerging market from frontier markets, a move that made the equity
markets part of other emerging markets. In 2014 a law intro-duced which stipulates that non-Qatari investors are allowed to own no more than 49 percent of the shares of Qatari share-holding companies listed on Qatar Stock Exchange.”
A law governing the Qatar Financial Centre (QFC), aimed at simplifying procedures for for-eign investors, will hopefully be introduced in the near future. In 2015 the QFC Authority and Qatar University signed an MoU on initiatives in finance research and education for Qatar's future.
Dr. R. Seetharaman said Qatar has one of the widest range of maturities as compared to other GCC international issu-ances. Given this edge, the Qatari companies can benchmark the yield curve through debt issu-ances and benefit from lower interest rates. The wider range of maturities not only allows to benchmark but also benefits the companies to align with any mis-match in Asset-Liability.
Qatar remains an attractive destination for debt investors on account of its strong credit rat-ing at “AA”. A higher credit rating
of “AA” implies zero risk weight and 100 percent in liquidity cov-erage ratio. Given the climate change, resource scarcity and water distress; Green bonds can be considered as an option. The GCC banks can tap long term funds to finance the Green projects. There should also be appropriate reforms to existing bankruptcy laws in Qatar to ensure adequate investor pro-tection. Further, Qatar may improve the efficiency of settling disputes by aligning arbitration regulation to international standards.”
QNB hosts Corporate ForumThe Peninsula
QNB, the leading finan-cial institution in the Middle East and Africa, in cooperation with SWIFT, the
world’s leading provider of secure financial messaging serv-ices, held a Corporate Forum in Doha on 26 October 2016. The event brought together QNB and SWIFT’s top corporate clients and showcased QNB’s cash man-agement solutions and SWIFT’s corporate offering.
High-level QNB representa-tives attended the Corporate Forum to exchange ideas and share best practices. Delegates heard from top corporate offi-cials in Qatar about their cash management and transaction banking requirements and needs.
At the event, QNB showcased its corporate banking solutions, such as e-Business online bank-ing, corporate credit cards and Electronic Cheques Clearing (ECC) system services, which allow clients to perform their business banking remotely, while maintaining maximum security.
SWIFT experts provided an overview of the SWIFT for Cor-porates offering.
SWIFT provides a single communication channel for cor-porates to exchange financial information with all their domestic and global banks. This allows corporations to gain value from additional global visibility and maximum efficiency from their financial and treasury operations. Through the connec-tion with SWIFT, they are able
to collect and achieve greater a u t o m a t i o n t h r o u g h standardisation.
The event is part of QNB’s continuous effort to inform cli-ents about cash management and transaction banking
products and services offered by the Bank and SWIFT. It also pro-vides the opportunity for open and candid dialogue allowing both sides to improve and ensure that their products and services meet all their clients’ needs.
An expert addressing the Corporate Forum in Doha
Milaha unit wins 'Offshore Marine Award'
QIB announces winners of 'Win Back Your Spend'
Qatari retailers urged to stay competitiveThe Peninsula
Booz Allen Hamilton, the global consulting and technology firm, has found
that investing in customer ana-lyt ics offers excit ing opportunities for the growth and development of the regional retail sector.
The report – titled ‘Next Generation Retailers: Power Up Your Analytics’ discusses how the global retail sector is chang-ing in the face of an unprecedented shift in customer behavior, fueled by advanced technology and wider accept-ance of online shopping and ecommerce.
According to Euromonitor, the Mena region is emerging as a global hub for retail and the sector is expected to grow from $996 billion in 2015, to $1.05 tril-lion in 2016.
Qatar is one of the fastest growing retail markets in the
region, with retail sales expected to grow by 7.3% annually by 2018 reaching a total revenue of $284.5bn.
Increased real estate and labor costs are also driving busi-nesses to seek a profitable mix of traditional and digital sales chan-nels. The onus is therefore increasingly on the retailers to embark on digital programs to ensure that outlets remain both relevant and profitable. Against this backdrop of economic growth and infrastructure devel-opment, the report tracks the
changes sweeping the Mena retail industry and the factors that will fuel growth in the sector.
Danny Karam (pictured), Vice President at Booz Allen Hamilton Mena said: “We have found that there is immense pressure on retailers brought on by changing shopper dynamics. Retailers must understand changing customer behavior and shopping preferences, manage the cost of brick and mortar establishments, mine data and amplify their outreach through an omnichannel platform to pro-vide a seamless shopping experience that will, in turn, cre-ate new revenue streams beyond the shop floor.”
The report highlights how data analytics can be incorpo-rated into a company’s business processes with the aim of trans-forming the organisation’s business model into comprehen-sive data-driven decision making. By leveraging the value
of data – both internal (customer profiles, footfall, transactions) and external (social media, traf-fic, weather, macroeconomic) – retailers can tailor their offer-ing to drive sales, while at the same time optimising their return on investment.
The report also highlights that data analytics can be used to create value for customers themselves; improving their journey and helping retailers exceed expectations besides influencing strategy about cus-tomer stickiness, loyalty and relationship.
It has identified six impera-tives that are central to building a sustainable customer analyt-ics capability – these include building a case for customer analytics, defining customer analytics service offering, build-ing the right customer analytics capabilities, investing in agile and scalable systems, establish-ing an optimal operating model..
Gulf Air to increase direct Sialkot service from Dec 1The Peninsula
Gulf Air, the national car-rier of the Kingdom of Bahrain, is set to increase
its direct Sialkot service from two to four weekly flights start-ing from 1st December 2016 to meet high passenger demand.
Commenting on the upcom-ing increase, Gulf Air Chief Commercial Officer, Ahmed Janahi said: “We are always looking to satisfy the high demand to and from Pakistan and cater to passenger needs across the Gulf Air network. Gulf Air’s increased Sialkot frequency will enhance the existing Gulf Air service to one of our national carrier’s seven destinations in Pakistan".
"With additional flights between Bahrain and Sialkot we are offering enhanced schedule
flexibility for our valued travel-ers while also creating improved connections for those passen-gers travelling to and from Gulf Air’s network of onwards desti-nations across the globe.”
Catering to over 3.5million Pakistani nationals residing in the Gulf region, Gulf Air has provided direct air services between Pakistan and Bahrain since 1960. Last year Bahrain’s national carrier introduced direct services to the cities of Multan and Faisalabad in Paki-stan taking the airline’s total Pakistan destinations up to seven cities: Karachi, Lahore, Islamabad, Peshawar, Sialkot, Multan and Faisalabad.
With one of the largest Mid-dle East networks, Bahrain’s national carrier is well posi-tioned to link regional travelers to Sialkot.
23THURSDAY 3 NOVEMBER 2016 BUSINESS
ibq turns 60; launches new brand campaign The Peninsula
International Bank of Qatar (ibq) celebrated its 60th anniversary on Tuesday, during a Gala Dinner at the Four Seasons Hotel Doha,
in presence of its customers, investors, employees and friends.
The celebration was attended by ibq customers and friends and started by a welcome speech by Omar Bouhadiba, Managing Director at ibq, followed by a documentary showcasing the bank’s history and legacy.
On this special occasion, ibq recognised five of their oldest customers for their long-standing loyalty and trust towards the bank over the years. Sheikh Sultan Bin Jassim Bin Mohammed Al Thani, Vice Chairman of ibq and Omar Bouhadiba, Managing Director at ibq handed the tokens of appreciation as a souvenir.
Omar Bouhadiba com-mented: “Today as we draw on 60 years of expertise and knowl-edge of personal relationship
banking, we celebrate a major milestone in the Bank’s history with our loyal customers, dedi-cated employees, faithful partners and dear friends. We aim to continue to play our role in the development of Qatar for the generations to come”.
Founded in 1956 as the Otto-man Bank, ibq is one of the oldest banks in Qatar, offering personal banking services to Qatari
Families and investors. Over the last decades, the Bank went through a journey of changes in shareholdings and re-branding. The bank was renamed Interna-tional Bank of Qatar in 2004 and is now 100% Qatari with a very solid outlook.
During celebrations, ibq launched a new brand campaign aimed at strengthening the emphasis on the significance of human relations in the banking sector, through its new brand promise: ‘Making Banking More Personal’.
“We are extremely proud of being a pioneer in the banking industry for 60 years now, mak-ing history at a time of rapid growth and increasing sophisti-cation in the region’s capital markets.
In-line with Qatar National Vision 2030, at ibq, we fully embrace the opportunities offered by the Qatari market as we continue to offer a solid plat-form for the country’s market players to grow”, Bouhadiba. said.
Swiss & British need separate deals on EU UAE's RAK Hospitality sounding out lenders for debt financing: bankers
RAK Hospitality Holding, a United Arab Emirates company controlled by
the government of the emirate of Ras Al Khaimah, is in talks with banks about a debt-rais-ing exercise, bankers said. The entertainment and hospitality group is considering both a loan and a bond issue which, accord-ing to the bankers, could be smaller than the $240m debt
transaction which the company concluded in May last year.
"We constantly assess how our expansion plans can be appropriately funded and as you would expect from an enterprise of our scale, hold dis-cussions with our banking partners about potential ways to do this. We are unable to comment further," the compa-ny's CEO said.
Berlin/Zurich Reuters
German Chancellor Angela Merkel said on Wednes-day that European Union
talks with Switzerland on the free movement of people should not be linked in any way to the negotiations with Britain over its exit from the EU.
Her comments after talks with visiting Swiss President Johann Schneider-Ammann put
the neighbours on the same page in seeking a tailor-made solution for Switzerland as it seeks to curb immigration from the EU, a hot button topic in Britain too.
Any concessions the EU grants non-member Switzerland will be closely watched for clues of what Britain might expect as it prepares to renegotiate its ties with the bloc following its June 23 referendum vote to leave.
"If I tried to put myself in the
shoes of a Swiss citizen, I wouldn't be pleased if it was suddenly cast in a new light because of another decision in another country," Merkel told a joint news conference in Berlin.
"That's why we should con-duct these talks with Switzerland as if the Great Brit-ain issue never existed. I can only say that the German posi-tion hasn't changed with Great Britain's decision. These are two
completely different issues."Schneider-Ammann said he
hoped a deal on free movement could emerge this year.
The president had staked out a hard line before the meeting, insisting in a radio interview that the free movement dossier could not be linked to a broader treaty that Brussels wants to conclude with Bern.
He said Switzerland would not be pressured into sacrificing its sovereignty.
Omar Bouhadiba, Managing Director , ibq addressing the bank's anniversary celebrations.
Pioneer in banking
Founded in 1956 as the Ottoman Bank, ibq is one of the oldest banks in Qatar, offering personal banking.
ibq recognised five of their oldest customers for their long-standing loyalty and trust towards the bank over the past several years.
Alibaba sales growth soars into the cloudBeijing AFP
Chinese e-commerce giant Alibaba’s sales soared 55 percent in the last quarter, thanks in part to a more than doubling of revenue from cloud com-
puting, the company said yesterday. The year-on-year growth in group sales, to 34.29bn yuan ($5.14bn), was not matched by net profit, which slid 66 percent to 7.62bn yuan ($1.14bn). The drop was mostly due to an unfavourable comparison, as last year the firm booked an exceptional gain linked to the re-evaluation of its participation in one unit. “Alibaba Group had a great quarter,” chief executive Daniel Zhang said in a state-ment on the firm’s second quarter, which ended in September.
24 THURSDAY 3 NOVEMBER 2016 BUSINESS
Chalking up profit
BG Group was acquired by Shell for $54bn in February.
Shell CEO Ben Van Beurden has vowed to boost savings from the deal & and use higher cash flows to safeguard the dividend.
London Reuters
US natural gas production may be stabilising or even starting to rise as the
boost to oil and gas prices in recent months stimulates an increase in new drilling.
Marketed dry gas production amounted to 2,239 billion cubic feet in August, down from 2,302 bcf in August 2015, according to the US Energy Information Administration. Gas production has been down year on year by an increasingly large percentage since March as the effect of low prices and a reduction in drilling filters through.
Output in July was down by more than 4 percent compared with the same month a year ear-lier, according to EIA survey data.
But production bucked the trend in August and was down by just 2.7 percent from a year earlier. Extrapolating a trend from a single month’s data is
risky especially when the series has a high level of inter-month volatility.
However, the reported increase in gas production is consistent with separate data showing a large increase in drill-ing over the last five months.
The number of rigs drilling for oil and gas has risen by 153 or 38 percent since the end of May, according to oilfield serv-ices company Baker Hughes. Most of the extra rigs are nomi-nally targeting primarily oil-bearing formations (125) with a much smaller increase in the number reported to be drilling mainly for gas (27).
The increase in oil drilling also began earlier, from the start of June, while the upturn in gas drilling began in earnest only at the end of August. But most oil wells will also produce substan-tial quantities of associated gas so the increase in oil drilling will push up gas output. And the big increase in gas-focused drilling
during September and October should result in further produc-tion gains during the remaining months of the year.
Output needs to rise to meet a structural increase in demand from the growing number of combined cycle natural gas-fired power plants built across the
country. Gas consumption rose by more than 0.5 percent in the first eight months of 2016 com-pared with the same period a year earlier despite a record warm winter.
Post-winter consumption rose by more than 6.5 percent between April and August
compared with the same period in 2015. Futures prices rose by more than 40 percent between late February and early October to accelerate supply and slow down the rate of demand growth.
Prices have since pulled back as the market reacts to an unu-sually slow start to the heating
season and signs of resumed drilling. Traders are hunting for a combination of spot price and forward structure that will keep power burn high in the short term while curbing demand fur-ther forward and encouraging new drilling to bring on more supply.
BerlinAFP
German airline Lufthansa said yesterday that its net profits had almost dou-
bled in the third quarter, boosted by a pensions deal with cabin staff. Net profits soared to ¤1.42bn ($1.5bn) between July and September. Last month, Lufthansa raised its profit fore-cast for the year, after recording better than expected demand from business travellers in September.
More than ¤700m of provi-sions the group had set aside flowed into its results this quar-ter after it reached a deal to move from defined-benefit to defined-contribution pensions
for cabin crew. Excluding such items, the group recorded an operating profit of ¤1.15bn, down 6.3 percent compared with the third quarter in 2015. “The Lufthansa group is devel-oping with stability in a difficult market environment,” Chief Executive Carsten Spohr said.
“We are responding to the price pressures in the air trans-port sector with consistent capacity and cost discipline.” Confident in its performance in the final months of the year, Lufthansa had already increased its annual forecast in late October. Based on its adjusted operating profit for the first nine months of ¤1.68bn, the group said it aimed to achieve a ful l-year performance
“approximately on the previous year’s level” — when the same measure stood at ¤1.8bn for the full 12 months.
Lufthansa Group, which includes Austrian Airlines, Swiss, and low-cost Eurowings, car-ried 32.7 million passengers between July and September. That was an increase of almost 600,000 compared with the same period in 2015.
But revenue shrank to ¤8.83bn, a slight decrease of 1.2 percent compared with the third quarter last year. Lufthansa laid plans to expand its capacity in the third quarter, aiming to complete its acquisition of Brus-sels Airlines and lease 40 aircraft from struggling German competitor Air Berlin.
LondonBloomberg
Royal Dutch Shell Plc’s biggest takeover, the subject of intense investor scrutiny during crude’s col-
lapse, is starting to pay off as Europe’s largest oil company chalks up its highest profit in five quarters.
The cash now generated by BG Group Plc — acquired by Shell for $54bn in February — outstrips its spending, while production has risen by about a third in two years, Shell Chief Financial Officer Simon Henry said. The integration of its assets has been completed “well ahead of time”, he said.
Shell Chief Executive Officer Ben Van Beurden (pictured), who’s faced criticism that he overpaid for the oil and gas pro-ducer, has vowed to boost savings from the deal and use higher cash flows to safeguard the dividend. While Shell built up record debts of almost $78bn following the acquisition, its third-quarter results show that higher production, deeper cost cuts and tighter spending are boosting the bottom line.
“Investors can finally see what the new Shell can do,” said Oswald Clint, a London-based analyst at Sanford C. Bernstein & Co. “The BG acquisition is finally delivering.”
The Anglo-Dutch energy giant said profit adjusted for one-time items and inventory changes rose 17 percent from a year earlier to $2.79bn, exceed-ing the $1.79bn average analyst
Shell’s record BG deal starts to pay off
estimate. Cash flow from oper-ations, a key measure of financial strength, surged to $8.5bn, more than triple the sec-ond-quarter figure.
BP Plc, Total SA, ExxonMo-bil Corp and Chevron Corp also beat earnings estimates, show-ing that Big Oil is managing to adapt to low energy prices after two years of painful cost-cut-ting. Crude’s collapse began in mid-2014, and by early April 2015 — when Shell announced its acquisition of BG — it was
down more than 40 percent. As prices sank below $30 in early 2016, many were questioning the rationale behind the deal.
Shareholder Standard Life Investments said the plan was “value destructive” and it would vote against it. When the acqui-sition was announced, Carmignac Gestion SA fund manager Michael Hulme said that making a success of it would “require a more-than-healthy degree of optimism”.
In response, Van Beurden cut spending further, promised higher returns and said Shell would generate cash at lower oil prices. On Tuesday, the company said capital invest-ment in 2017 would be at the bottom of its $25bn to $30bn guidance, down from $29bn this year.
Shell can manage “reason-ably well” with oil at $50 in the next 12 months, CFO Henry said on a conference call. The com-pany hasn’t said what price it needs to balance spending and dividends with cash from oper-ations and asset sales, though Henry said it could break even next year even without proceeds from divestments. BP said Tues-day it can balance the books at $50 to $55 next year.
Shell’s oil and gas produc-tion totaled 3.6 million barrels of oil equivalent a day in the third quarter, up 25 percent from a year earlier. BG pumped about 600,000 barrels a day in 2014, the level of output at which it was valued, and has ramped up to an average of about 800,000 barrels a day this year, Henry said.
Planes of Lufthansa AG seen on the tarmac at Fraport airport in Frankfurt yesterday.
Lufthansa net profit doubles despite tough airline market
US gas production shows tentative signs of upturn: Kemp
Hong Kong AFP
Standard Chartered could face “finan-cial consequences” after an investigation in Hong Kong over its role
in an initial public offering, the firm said as it reported more disappointing earnings results which sent its share price tumbling.
The London-based, Asia-focused lender said authorities were looking into its con-duct while co-sponsoring the listing in the city in 2009, dealing another legal blow to the bank which is already facing a US probe.
“The Group has been informed by the Hong Kong Securities and Futures Commis-sion that it intends to take action against Standard Chartered Securities (Hong Kong) ... in relation to its role as a joint sponsor of an initial public offering listed on the Hong
K o n g S t o c k Exchange in 2009,” it said in its interim earnings report. “If it does take action there may be financial consequences” for the bank, it said in the report Tues-day. Standard Chartered said pre-tax profit
improved in the third quarter to September but was still well short of expectations, while revenue was also below forecast. Shares in the firm plunged 6.67 percent in Hong Kong yesterday. Its London-listed shares ended down 5.42 percent on Tuesday.
Last week Swiss giant UBS said it could
faced a fine and suspension from sponsor-ing IPOs in Hong Kong over a listing in the city. Neither bank said which IPO the actions referred to, but the Financial Times cited a source as saying the investigations centred on the listing of China Forestry Holdings.
Standard Chartered is still being probed by US authorities over claims of bribery by an Indonesian power company, MAXpower Group, which is controlled by the bank.
The probe is the latest in a string of legal problems for the bank, which paid $667 mil-lion in 2012 to settle charges it violated US sanctions by handling thousands of transac-tions involving Iran, Myanmar, Libya and Sudan. In August 2014 the bank was hit by US regulators with a $300 million fine and restric-tions on its dollar-clearing business for failing to detect possible money-laundering.
StanChart faces probe over Hong Kong IPO
25THURSDAY 3 NOVEMBER 2016 BUSINESS
Construction cranes are seen on a residential building project behind homes in west London in Britain. UK house prices failed to rise in October, according to Nationwide Building Society. Annual price growth slowed to 4.6 percent from 5.3 percent. Nationwide said the recent slowdown partly reflects the after-effects of the introduction of stamp duty on second homes introduced in April.
UK house prices stagnate
Zhuhai AFP
Aerospace giants Boeing and Airbus took potshots at one another at the Zhu-
hai air show, as the US and European rivals seek to capture more of China’s booming aircraft market. China is one of the West-ern manufacturers’ key battlegrounds, with its travellers taking to the skies in ever-grow-ing numbers.
The country’s airlines will need nearly 6,000 new planes worth $945bn over the next two decades, Airbus said in its 2016-2035 Global Market Forecast.
Boeing’s expectations are even more optimistic, for 6,800 aircraft costing $1 trillion. To win favour locally both have built partnerships with Chinese firms. Airbus has a completion and delivery centre in Tianjin, where
workers install furnishings and apply paint to aircraft for the domestic market. It also buys parts such as exit doors, brake blades and wing sections from Chinese suppliers.
Boeing is planning to open a facility with the state-owned Commercial Aircraft Corp of China (COMAC) to paint and install cabins for 737-model planes, the Chinese firm said.
Eric Chen, president of Air-bus China, dismissed the Seattle firm’s plan as “close to one gen-eration” behind his own firm, saying it was following Airbus’s strategy “with a lot of reluctance”.
“I got two impressions,” he said at a briefing at the China Airshow in Zhuhai, the industry’s biggest event in the country. “First one, the decision we made 10 years ago was right. The sec-ond impression is that we are
Washington AFP
USA TODAY publisher Gannett announced late on Tuesday that it was ending its bid for Los Angeles Times owner Tronc, a deal which would have created a powerhouse in the newspa-per sector.
Months after its offer for the newspaper rival was announced in April, Gannett said in a brief statement it “has determined not to pur-sue an acquisition of Tronc,” without elaborating.
Tronc said in a separate statement that the two firms had agreed on a purchase price but that the deal col-lapsed when Gannett’s financing fell through. “It is unfortunate that Gannett’s lenders made their decision to terminate their role in the transaction without the ben-efit of Tronc’s third-quarter financials or any future pro-jections,” Tronc said.
“Tronc remained a con-structive partner to Gannett as it sought to complete its financ-ing for the agreed-upon purchase price, however, Gan-nett was unable to do so and terminated discussions.”
Gannett had initially offered $815m for the group formerly known as Tribune Publishing, which also pub-lishes the Chicago Tribune, Baltimore Sun and other dai-lies. It later boosted the offer to $864m and some reports said the two companies were close to a deal for about $1bn.
Gannett is already the largest US newspaper group with more than 100 dailies, and some analysts said the deal could provide additional scale to help it better adapt to the digital age.
Tronc executives had on several occasions rejected the Gannett offer, saying the company would pursue its own digital transformation, although some shareholders had reportedly been pressuring the group to accept a deal.
Tribune Publishing, rebranded as Tronc this year, was spun off the larger Tribune Co in 2014, and has been examining options such as the sale of the coveted Los Angeles daily.
SingaporeBloomberg
As crude prices continue to get dragged down by a global glut that shows no
signs of abating, oil traders may find some profit by going to sea.
The market structure for Brent crude, the benchmark for more than half the world’s oil, now makes it viable to store supplies in a vessel to potentially lock in profits on a sale six months later, according to a Bloomberg survey of 4 traders as well as a shipbroker and a charterer. About five to 10 tank-ers have been chartered to most likely hold oil near Singapore, according to Jonathan Lee, Chief Executive of Tankers Interna-tional LLC.
Crude is extending declines as Opec’s members squabble over output limits, threatening the group’s effort to trim an oversupply. But traders can make a profit by storing cargoes at sea even amid tumbling prices, provided there’s a viable contango—a market structure where oil for delivery today is lower than those in future months. The difference has to be big enough to cover the costs of hiring a storage ship to hold the supply until profits can be
locked in with a sale later.Brent crude for delivery in
the future has averaged $3.52 a barrel higher than the latest shipments since the beginning of last week, potentially mak-ing up for the cost to hire a tanker for half a year.
A six-month time charter on a Very Large Crude Carrier that can carry about 2 million barrels of oil would cost $32,000 to $35,000 a day, according to the shipbroker and charterer in the Bloomberg survey. That’s equiv-alent to $2.85 to $3.15 a barrel. January Brent futures traded at $47.85 a barrel on Wednesday, lower than the July contact at $51.18 on the London-based ICE Futures Europe exchange.
“The widening of Brent’s market contango has led to the opening of a window of oppor-tunity for floating storage to be viable,” said Den Syahril, a Sin-gapore-based analyst at industry consultant FGE. “The current contango in crude futures is just wide enough to make floating storage workable.”
Most varieties of crude from Africa, North Sea and the Asia Pacific region are priced off the Dated Brent benchmark, mean-ing traders can potentially benefit from holding on to such
grades at sea. Apart from freight, storing crude on tankers would also involve costs including that for ship fuel, insurance and finance.
While demand for storage ships is lower compared with early 2015, a series of older ves-sels have been booked by a handful of traders for four to six months near Singapore from mid-December, said Lee of Tankers International, which transports oil worldwide in a fleet of very large oil tankers owned by independent shipowners.
Industry consultant JBC Energy GmbH had said in July that the drop in freight rates and shrinking availability of tradi-tional storage options prompted “creative approaches to holding on to oil.”
Trading houses including Vitol Group, Koch Supply & Trading LP and Glencore Plc, plus the in-house trading arms of BP and Royal Dutch Shell Plc, collectively made billions of dol-lars from 2008 to 2009 stockpiling crude at sea. At the peak of the floating storage spree, sheltered anchorages in the North Sea, the Persian Gulf, the Singapore Strait and off South Africa each hosted doz-ens of supertankers.
MumbaiBloomberg
Ratan Tata replaced Cyrus Mistry atop the holding company of India’s biggest con-glomerate in a single
board meeting. Evicting Mistry from the boards of about a dozen companies in the group won’t be so easy.
A week after the coup at Tata Sons Ltd, Mistry is still chairman and non-executive director of Tata Motors Ltd, owner of Jag-uar Land Rover; Tata Power Ltd. and Indian Hotels Co, which runs the Pierre in New York, the com-panies said in stock exchange filings on Tuesday. Tata Sons doesn’t hold a majority of the stock in those and other group units, making the task of evict-ing Mistry more difficult.
The directors of key listed companies are likely to meet in the next fortnight to discuss earnings for the July-September quarter, giving investors an early indica-tor of how the dual power structure will affect the businesses. The anomaly could also put off potential candidates for the top job
at Bombay House — the south Mumbai headquarters of the Tata Group for nearly a century. There are 29 publicly traded companies under Tata Sons, with a combined market value of about $120bn.
“The long drawn-out battle will slowly and gradually erode the ‘Tata premium’ that group companies traditionally enjoyed,” said A K Prabhakar, head of research at IDBI Capital Market Services Ltd. In Mumbai. “No major decisions will be taken until Mistry’s successor is in place.” Since Mistry’s removal as group chairman, Tata’s listed companies have lost a combined
$6bn in market value.Debasis Ray, a spokesman
for Tata Sons, did not immedi-ately respond to an e-mail seeking comment. Mistry’s office declined to comment on the mat-ter. So far, there’s little sign that Ratan Tata, 78, and Mistry, 48, will find an amicable solution. Mistry was “shocked beyond words” at the decision to remove him, calling it “unique in the annals of corporate history,” according to an e-mail he sent to the board that was seen by Bloomberg News. Since then
both sides have issued a volley of acrimonious public state-ments, slamming the other side.
Tata Sons said on October 27 that Mistry’s leaked e-mail “makes unsubstantiated claims and malicious allegations” and that records to disprove them will be disclosed to “appropriate forums, if and when necessary”. A release from Mistry’s office on Tuesday accused Tata’s side of making insinuations that were “false” and “mischievous”. “It is not likely to be very easy to find a solution,” said Hyderabad-based
Kavil Ramachandran, executive director of the Thomas Schmid-heiny Centre for Family Enterprise at the Indian School of Business. The company would do better to temper emotions with the help of an outsider, possibly a respected member of the Parsi community to which both Ratan Tata and Mis-try belong, he said.
With Mistry giving no indi-cation as yet whether he intends to resign from the individual boards, investors are bracing for confusion due to the new struc-ture, said Mahendra Patil, a managing partner at Mumbai-based financial services company XMPUS Financial Services LLP.
For Mistry to be removed from the boards of individual companies, the directors and shareholders would have to vote, he said. “Decision-making of critical issues pertaining to the operations of the companies might be deferred till there is a clarity on who’s really in charge,” Patil said. “There is a possibility of a long-drawn boardroom as well as courtroom battle.”
While Tata Sons typically owns around 25 percent to 30 percent of the stock in the group’s major units, it probably
has enough persuasive power to get other minority shareholders to side with them, said Shriram Subramanian, founder of proxy-advisory firm InGovern Research Services. Mistry is also chairman of software services firm Tata Consultancy Services Ltd, the most valuable asset in the group, but Tata Sons holds 73 percent of that unit.
Under Section 169 of India’s Companies Act, Tata Sons, as a shareholder, can propose a res-olution to remove Mistry as a director, he said. The board then puts the resolution up for vote to all shareholders after giving the director an opportunity to be heard. In the event, he refuses to do so, the board can vote for his removal. But Tata doesn’t need to strip Mistry of his directorship to stop him running the individ-ual units. Instead, it can persuade the board to vote for his removal as chairman in the same way the holding company did. Tata Sons itself hasn’t removed Mistry as a director, only as chairman, Sub-ramanian said. “If the idea is to only remove Mistry as a chair-man, then the board can express no confidence in him and ask him to step down,” he said.
Tata empire split in two; Mistry stays chairman of unitsPower struggle
There are 29 publically traded companies under Tata Sons, with a combined market value of $120bn.
Since Mistry's removal as group chairman, Tata's listed firms have lost $6bn in market value.
Oil traders seen hunting profit at sea again as glut sinks price
Gannett drops its bid for LA Times owner Tronc
Boeing & Airbus trade barbs; vie for China pieAirbus forecast
6,000China's airlines will need nearly 6,000 new planes worth $945bn over the next two decades.
well in advance of our compet-itor.” Darren Hulst, managing director for Northeast Asia mar-keting at Boeing, earlier told reporters that the Airbus A350 fell short of the 787 widebody plane in range, capacity, carbon emissions, window size and aerodynamics.
“The 787 is capable and has technology and features built into it that are not available on the A350, which was obviously introduced later into the
market,” he said. He added the company had 14 China deliver-ies of 787-9s in 2016 and had secured orders and commit-ments for 46 more.
While the two megafirms see a sunny future in China, home-grown competitors backed by Beijing aim to beat them at home — and ultimately abroad.
Chinese authorities have urged companies to acquire technology and skills in a range of high-value sectors including aerospace in the “Made in China 2025” plan.
At the same time as it is working with both Boeing and Airbus, COMAC is developing single-aisle jets to compete with them. Its C919 narrow-body is going up against the Boeing 737 and Airbus A320 in the 160-seat segment, which the Chinese company predicts will have more than 17,000 deliveries over the
next 20 years. In Zhuhai COMAC announced that state-owned China Eastern Airlines had com-mitted to buy 20 C919s. In the summer COMAC’s regional jet, the 90-seat ARJ21, flew its first commercial flight after years of delays. Boeing, Airbus and Cana-dian regional builder Bombardier all played down the threat of Chinese competition.
But the business climate has darkened for US and European firms in the country, with the American Chamber of Com-merce in China reporting this year that more than three-quar-ters of survey respondents felt “less welcome” there.
Pessimism among European companies hit an all-time high in the summer, according to a European Chamber of Com-merce in China report on the “increasingly hostile” business climate.
QATAR STOCK EXCHANGE
26 THURSDAY 3 NOVEMBER 2016 BUSINESS
INTERNATIONAL MARKETS - A LIST OF SHARES FROM THE WORLD
A C C-A/D 1490.8 -15.95 11702
Aarti Drugs-B/D 652 -20.05 1639
Aban Offs-A/D 258 -8.7 457637
Ador Welding-B/D 305.45 -7.05 4538
Aegis Logis-B/D 154 -3.95 42351
Alembic-B/D 40.55 -1.4 57809
Alkyl Amines-B/D 334.05 -10.45 5532
Alok Indus-A/D 3.39 -0.07 966299
Apollo Tyre-A/D 199.3 -6.55 279856
Asahi I Glass-/D 191.4 -1.2 25928
Ashok Leyland-/D 89.8 -0.3 1314766
Bajaj Hold-A/D 2209.7 32.35 1431
Ballarpur In-B/D 17.67 -0.61 1157321
Banaras Bead-B/D 48.3 0.05 3045
Bata India-A/D 472.55 -10.6 24105
Beml Ltd-A/D 915.5 -10.8 65808
Bh Electronic-/D 1302.8 -26.05 8813
Bhansali Eng-T/D 26.7 -1.65 782859
Bharat Bijle-B/D 878 27.35 25528
Bharatgears-B/D 134.25 -4.9 18544
Bhartiya Int-B/D 617.9 25.25 28379
Bhel-A/D 137.3 -4.25 484059
Bom.Burmah-B/D 592.35 -19.55 14793
Bombay Dyeing-/D 57.2 -1.8 269755
Camph.& All-B/D 726.05 -10.55 1462
Canfin Homes-B/D 1837.6 -21.65 3530
Caprihans-Xc/D 102 -3.2 6191
Castrol India-/D 435.05 -16.45 233336
Century Enka-B/D 355.05 14.15 174476
Century Text-A/D 996.35 -27.55 176265
Chambal Fert-B/D 64 -1.95 117395
Chola Invest-A/D 1157.9 -12.15 2397
Chowgule St-T/D 13.96 -0.68 5100
Cimmco-B/D 74.5 -1.6 6679
Cipla-A/D 558.8 -12.25 413322
City Union Bk-/D 150.1 0.9 12125
Colgate-A/D 959.8 -12.55 11209
Container Cor-/D 1365 -2.3 102470
Dai-Tichi Kar-/D 562 -11.65 1158
Dcm Financia-B/D 2.39 0.11 5490
Dcm Shram Ind-/D 225.8 -5.5 9096
Dhampur Sugar-/D 121.1 0.45 64960
Dr. Reddy-A/D 3258.4 -67.2 11198
E I H-B/D 108.75 -2.1 10914
E.I.D Parry-A/D 260 -4.85 24266
Eicher Motor-A/D 24799.9 -509.4 3853
Electrosteel-B/D 26.4 -1.3 133622
Emco-B/D 33.3 -1.15 90195
Escorts Fin-B/D 16.39 -0.26 296051
Escorts-A/D 372.25 -7.05 629347
Eveready Indu-/D 248.6 -11.65 5102
F D C-B/D 224.5 -1.15 11258
Federal Bank-A/D 79.4 -2.4 600755
Ferro Alloys-B/D 10.5 0.53 634179
Fgp Ltd-Xd/D 2.44 0.11 1871
Finolex-A/D 451.7 -5.8 1938
Forbes-B/D 2183 3.4 2219
Gail-A/D 428.8 -3.6 81987
Gammon India-T/D 14.9 -0.45 67330
Garden P -B/D 33.6 0.2 61793
Godfrey Phil-B/D 1425.5 10.6 9717
Goodricke-B/D 231.4 -3.2 48065
Goodyear I -B/D 787.85 -24.5 35866
Hcl Infosys-B/D 50.75 -2.5 621434
Him.Fut.Comm-T/D 14.9 -0.47 506048
Himat Seide-B/D 295.5 2.95 77605
Hind Motors-T/D 8.92 -0.73 945264
Hind Org Chem-/D 23.1 -1.1 56058
Hind Unilever-/D 841.45 6.2 73990
Hind.Petrol-A/D 454.65 -10.1 109485
Hindalco-A/D 156.35 -0.2 822459
Hous Dev Fin-A/D 1403.9 -12.75 108016
I F C I-A/D 25.25 -0.6 639753
Idbi-A/D 70.2 -2.7 603175
Ifb Agro-B/D 440.8 -16.9 4667
Ifb Ind.Ltd.-B/D 510.25 -13.4 1999
India Cement-A/D 155.1 -5.5 157985
India Glycol-B/D 134.55 -5.5 25218
Indian Hotel-A/D 114.3 -4.1 61891
Indo-Tcount-T/D 799.05 -19.85 14561
Indusind-A/D 1226.2 16.05 42645
J.B.Chemical-B/D 376.65 -11.45 8557
Jagatjit Ind-X/D 81.95 2.95 1974
Jagson Phar-B/D 40.4 -0.95 16655
Jamnaauto-B/D 224.65 -8.3 41022
Jbf Indu-B/D 242 -0.85 34093
Jct Ltd-B/D 7.21 -0.26 528650
Jenson&Nich.-B/D 9.05 -0.28 15416
Jik Indust-B/D 0.82 0.01 8483
Jindal Drill-B/D 194.5 -3 7392
Jktyre&Ind-A/D 143.1 -4.6 192377
Jmc Projects-T/D 240.3 -8.35 5024
Kabra Extr-B/D 130 -5.4 6336
Kajaria Cer-A/D 622.75 -14 15613
Kakatiya Cem-B/D 368.7 -5.15 13478
Kalpat Power-B/D 248.05 -6.6 6837
Kalyani Stel-T/D 322.8 -1.1 91584
Kanoria Chem-B/D 83.25 -5.9 103513
Kg Denim-B/D 102.4 -4.05 140067
Kilburnengg-Xd/D 54.8 -1.3 7120
Kinetic Eng-Xc/D 97 1.65 21202
Kopran-B/D 58.5 -1.8 154572
Lakshmi Elec-B/D 523.05 -15.1 13669
Lakshmi Mach-A/D 4270 -29.9 2051
Lgb Broth-B/D 692.4 15.9 7371
Lloyd Metal-Xc/D 13.7 -0.33 77168
Lok.Hous&Con-Z/D 4.74 0.22 117168
Lumax Ind-B/D 925.1 -34.2 1601
Lupin-A/D 1495.5 -17.5 83706
Lyka Labs-T/D 66.4 -0.35 13315
Mafatlal Ind-B/D 339.75 -6.8 5675
Mah.Seamless-B/D 252.15 -10.2 7927
Maha Scooter-B/D 1914 -36.25 1217
Mangalam Cem-B/D 343.45 -11.25 10095
Maral Overs-B/D 31.8 -1.2 7746
Mastek-B/D 151.75 3.35 92333
Max Financial-/D 546.05 -12.7 11975
Mrpl-A/D 90 -1.45 79024
Nagreeka Ex-B/D 41.2 0.55 44666
Nahar Spg.-B/D 129.6 -4.3 20163
Nation Alum -A/D 54.6 -0.45 622699
Navneet Edu-B/D 109.5 -3.05 19020
Nepc India-T/D 1.8 0.04 17718
O N G C-A/D 277.35 -11.85 1635314
Ocl India-B/D 925.05 -33.75 1659
Oil Country-B/D 34.2 0.9 88349
Onward Tech-B/D 66.55 -1.95 27192
Orchid Pharm-B/D 35.2 -1.45 370415
Orient Hotel-T/D 27.3 -0.7 2500
Orient.Carb.-T/D 760 -12.8 1594
Oudh Sugar-B/D 109.65 1.55 284661
Patspin India-/D 11.75 0.35 5501
Punjab Chem.-B/D 259.85 28.8 404431
Radico Khait-B/D 139.75 -6.05 221484
Rallis India-A/D 216.4 -4.45 29253
Reliance Indus/D 407.2 -10.2 34936
Ruchi Soya-B/D 22.75 -0.55 32356
S Bk Bikaner-B/D 684 -18.05 6164
Samtel-Xt/D 7 0 3900
Saur.Cem-B/D 69.75 -3.25 231576
Sterling Tool-/D 960 -39.55 1775
Tanfac Indust-/D 49 1.75 38290
Tanfac Indust-/D 49 1.75 38290
Thirumalai-B/D 936.6 -18.15 234458
Til Ltd.-T/D 316 -0.55 18439
Timexgroup-T/D 59.6 -3.15 141490
Tinplate-B/D 82 -1.45 38450
Ucal Fuel-B/D 222.8 -6.35 42781
Ultramarine-B/D 193.8 -12.3 34192
Unitech P -A/D 5.81 -0.2 3842215
Univcable-B/D 83.5 -0.55 9714
Uppergsugar-T/D 362.35 16.3 250857
3I Group/D 652.5 -14 473464
Assoc.Br.Foods/D 2550 75 763564
Barclays/D 184.05 -2.65 11418766
Bp/D 464.35 2.3 12079779
Brit Am Tobacc/D 4613 -8 522036
Bt Group/D 372.6 1.45 3968130
Centrica/D 212.3 -1.6 2726406
Gkn/D 313.1 -2.1 802998
Hsbc Holdings/D 606.5 -6 12541592
Kingfisher/D 363.8 -0.2 1790386
Land Secs Grou/D 985.5 2 575035
Legal & Genera/D 208.8 -0.7 3781158
Lloyds Bnk Grp/D 55.727 -0.51 38883082
Marks & Sp./D 346.6 4.4 4014134
Next/D 5005 195 778030
Pearson/D 754 5 722777
Prudential/D 1339 -4 2508657
Rank Group/D 194.9 1.4 18980
Rentokil Initi/D 225.7 -2 571891
Rolls Royce Pl/D 720.5 -5.5 815372
Rsa Insrance G/D 548 -3 370327
Sainsbury(J)/D 250 -3.7 3135935
Schroders/D 2782 -27 48556
Severn Trent/D 2288 0 125606
Smith&Nephew/D 1163 7 1066201
Smiths Group/D 1407 6 625605
Standrd Chart /D 642.5 -30.8 4049123
Tate & Lyle/D 780.5 1 378844
Tesco/D 209.65 -3.55 4813844
Unilever/D 3457 13.5 776443
United Util Gr/D 925.4893 2 475451
Vodafone Group/D 222.1 0.4 16947467
Whitbread/D 3611.984 -14 103900
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 10,073.03 1.26 %
QE Total Return Index 16,297.5 1.26 %
QE Al Rayan Islamic Index 3,657.53 1.97 %
QE All Share Index 2,777.32 1.27 %
QE All Share Banks &
Financial Services 2,858.48 0.34 %
QE All Share Industrials 3,022.65 1.78 %
QE All Share Transportation 2,421.73 1.76 %
QE All Share Real Estate 2,243.55 2.44 %
QE All Share Insurance 4,482.57 1.89 %
QE All Share Telecoms 1,161.1 0.74 %
QE All Share Consumer
Goods & Services 5,651.94 1.70 %
QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES
GOLD AND SILVER
02-11-2016 Index 10,073.03
Change 128.87
% 1.26
YTD% 3.42
Volume 5,586,154
Value (QAR) 219,180,077.53
Trades 3,255
Up 05 | Down 33 | Unchanged 0201-11-2016 Index 10,201.90
Change 28.95
% 0.28
YTD% 2.18
Volume 7,905,100
Value (QAR) 319,130,188.82
Trades 3,408
GOLD QR152.1182 per grammeSILVER QR2.1736 per gramme
Index Day’s Close Pt Chg % Chg Year High Year LowAll Ordinaries 5311 -64.222 -1.19 5691.8 4762.1
Cac 40 Index/D 4442.31 -27.97 -0.63 4607.69 3892.46
Dj Indu Average 18037.1 -105.32 -0.58 18668.4 15450.6
Hang Seng Inde/D 22810.5 -336.57 -1.45 24364 18278.8
Iseq Overall/D 5914.45 48.11 0.82 6791.68 5286.65
Karachi 100 In/D 41742.75 442.88 1.07 41688.57 29785
Nikkei 225 Ind/D 17134.68 -307.72 -1.76 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 4.4548 QR 4.5178
Euro QR 4.0146 QR 4.0704
CA$ QR 2.6958 QR 2.7489
Swiss Fr QR 3.7262 QR 3.7816
Yen QR 0.0349 QR 0.0356
Aus$ QR 2.7656 QR 2.8255
Ind Re QR 0.0541 QR 0.0551
Pak Re QR 0.0344 QR 0.0351
Peso QR 0.0746 QR 0.0761
SL Re QR 0.0243 QR 0.0249
Taka QR 0.0460 QR 0.0469
Nep Re QR 0338 QR 0.0345
SA Rand QR 0.2698 QR 0.2751