BUSINESS - Home - The Peninsula Qatar€¦ · 17/11/2018  · 22 BUSINESS SUNDAY 18 NOVEMBER 2018...

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Al Kuwari also noted that the favourable conditions are available to the Qatari private sector to enhance trade exchange with the Czech side in all fields. BUSINESS Sunday 18 November 2018 PAGE | 22 PAGE | 23 QIB announces Misk Account Millionaire Business Continuity and Resilience Conference to open on Tuesday QC & Czech delegation explore investment opportunities THE PENINSULA DOHA: Qatar and the Czech Republic have developed strong economic relations over the last several years, and both sides are working closely to further deepen and strengthen bilateral economic cooperation in new areas for mutual benefits. The combined value of trade exchange between the two coun- tries reached at $187m (over QR680m) in 2017, Mohammed bin Ahmed bin Towar Al Kuwari, First Vice-Chairman of Qatar Chamber (QC) noted yesterday. “The business climate in Qatar and the Czech Republic is attractive to foreign investments, which opens the way for business sectors to build mutual economic partnerships and alliances,” said Al Kuwari during a joint meeting with a Czech Republic trade del- egation specialised in the manu- facture of jewellery and other products. He pointed out that there are many areas for the development of economic cooperation between the two countries, especially in the fields of infrastructure and food- stuffs, adding that the launch of 10 flights a week between Doha and Prague will further enhance coop- eration in the field of tourism and investment, stressing that the Qatar Chamber encourages the establishment of economic partnerships. Al Kuwari also noted that the favourable conditions are available to the Qatari private sector to enhance trade exchange with the Czech side in all fields. He pointed out that holding such meetings will contribute to opening new horizons between the companies on both sides and boosting and attracting foreign investments to the Qatari market. The Czech side also invited Qatari business leaders to explore investment opportunities in a number of important sectors in the Czech Republic. This came during a joint meeting of Qatari businessmen with the visiting trade delegation from the Czech Republic, special- izing in different products, including jewellery, crystal and glass, which was held last Thursday at the Grand Hyatt Hotel in Doha. The meeting discussed means of enhancing trade exchange between Qatar and the Czech Republic. The Czech delegation was led CzechTourism’s Managing Director Monika Palatkova, Czech Republic Ambassador to Qatar and Kuwait Martin Dvorak, and Union of Glass and Fashion Jewellery Producers president Pavel Kopacek, and a number of Qatari and Czech business leaders. The Ambassador Dvorak stressed that the good relations between Qatar and the Czech Republic will contribute to enhancing trade between the private sector in both countries at all levels, noting the interest of the Czech businessmen in identifying the investment climate in the Qatari market. For her part, Platkova said that she came with a delegation of six Czech companies in the field of glass crystal manufacturing to showcase their luxury products to Qatari business owners and to learn about business in Qatar. She invited Qatari businessmen and others to visit her country, where she stressed that her country is characterised by abundance of tourist areas and shrines, especially in Prague and some other cities. Mohammed bin Ahmed bin Towar Al Kuwari (leſt), First Vice-Chairman of Qatar Chamber; Czech Republic Ambassador to Qatar and Kuwait, Martin Dvorak (second leſt); and others held meeting with the visiting members of a trade delegation from the Czech Republic at the Grand Hya Hotel in Doha.

Transcript of BUSINESS - Home - The Peninsula Qatar€¦ · 17/11/2018  · 22 BUSINESS SUNDAY 18 NOVEMBER 2018...

Page 1: BUSINESS - Home - The Peninsula Qatar€¦ · 17/11/2018  · 22 BUSINESS SUNDAY 18 NOVEMBER 2018 QIB announces Misk Account Millionaire THE PENINSULA DOHA: One year after the launch

Al Kuwari also noted

that the favourable

conditions are

available to the

Qatari private sector

to enhance trade

exchange with the

Czech side in all

fields.

BUSINESSSunday 18 November 2018

PAGE | 22 PAGE | 23

QIB announces Misk Account

Millionaire

Business Continuity and Resilience Conference to open on Tuesday

QC & Czech delegation explore investment opportunitiesTHE PENINSULA

DOHA: Qatar and the Czech Republic have developed strong economic relations over the last several years, and both sides are working closely to further deepen and strengthen bilateral economic cooperation in new areas for mutual benefits.

The combined value of trade exchange between the two coun-tries reached at $187m (over QR680m) in 2017, Mohammed bin Ahmed bin Towar Al Kuwari, First Vice-Chairman of Qatar Chamber (QC) noted yesterday.

“The business climate in Qatar and the Czech Republic is attractive to foreign investments, which opens the way for business sectors to build mutual economic partnerships and alliances,” said Al Kuwari during a joint meeting with a Czech Republic trade del-egation specialised in the manu-facture of jewellery and other products.

He pointed out that there are many areas for the development

of economic cooperation between the two countries, especially in the fields of infrastructure and food-stuffs, adding that the launch of 10 flights a week between Doha and Prague will further enhance coop-eration in the field of tourism and investment, stressing that the Qatar Chamber encourages the establishment of economic partnerships.

Al Kuwari also noted that the favourable conditions are available to the Qatari private

sector to enhance trade exchange with the Czech side in all fields. He pointed out that holding such meetings will contribute to opening new horizons between the companies on both sides and boosting and attracting foreign investments to the Qatari market.

The Czech side also invited

Qatari business leaders to explore investment opportunities in a number of important sectors in the Czech Republic.

This came during a joint meeting of Qatari businessmen with the visiting trade delegation from the Czech Republic, special-izing in different products,

including jewellery, crystal and glass, which was held last Thursday at the Grand Hyatt Hotel in Doha. The meeting discussed means of enhancing trade exchange between Qatar and the Czech Republic.

The Czech delegation was led CzechTourism’s Managing

Director Monika Palatkova, Czech Republic Ambassador to Qatar and Kuwait Martin Dvorak, and Union of Glass and Fashion Jewellery Producers president Pavel Kopacek, and a number of Qatari and Czech business leaders.

The Ambassador Dvorak stressed that the good relations between Qatar and the Czech Republic will contribute to enhancing trade between the private sector in both countries at all levels, noting the interest of the Czech businessmen in identifying the investment climate in the Qatari market.

For her part, Platkova said that she came with a delegation of six Czech companies in the field of glass crystal manufacturing to showcase their luxury products to Qatari business owners and to learn about business in Qatar. She invited Qatari businessmen and others to visit her country, where she stressed that her country is characterised by abundance of tourist areas and shrines, especially in Prague and some other cities.

Mohammed bin Ahmed bin Towar Al Kuwari (left), First Vice-Chairman of Qatar Chamber; Czech Republic Ambassador to Qatar and Kuwait, Martin Dvorak (second left); and others held meeting with the visiting members of a trade delegation from the Czech Republic at the Grand Hyatt Hotel in Doha.

Page 2: BUSINESS - Home - The Peninsula Qatar€¦ · 17/11/2018  · 22 BUSINESS SUNDAY 18 NOVEMBER 2018 QIB announces Misk Account Millionaire THE PENINSULA DOHA: One year after the launch

22 SUNDAY 18 NOVEMBER 2018BUSINESS

QIB announces Misk Account MillionaireTHE PENINSULA

DOHA: One year after the launch of the Misk Savings Account, Qatar Islamic Bank (QIB) has announced the Misk Account winner of the annual Grand Prize of QR1,000,000 . The lucky winner, Ali Hassan Al Mslmani, was randomly selected in a draw that took place in the presence of official representa-tives from the Ministry of Commerce & Industry and QIB.

The Misk Account is an inno-vative saving account that aims to encourage savings by building and rewarding positive financial habits. Since its launch in October last year, each week 5 winners have been selected and awarded a prize of QR10,000, summing the total number of winners to 230 QIB customers. Ali Al Mslmani, is the first grand prize winner of one Million Qatari Riyals.

Ali Hassan Al Mslmani received his grand prize last Thursday, at the QIB Head Office on Grand Hamad Street, in the presence of D. Anand, General Manager – Personal banking group and other QIB senior management team members.

Commenting on his win, Al Mslmani stated, “When I signed up for the Misk account a while ago, I did it because I wanted to start saving in a more consistent way, but I didn’t ever expect to be the winner of such a prize! I was surprised when I received a call from my bank telling me that I had won One Million Riyals. I would like to thank QIB

for this prize and also for the unique Misk Account, which not only helped me save more, but also granted me this amazing prize that I hope I will put to good use in my life.”

Remarking on the success of the Misk Account, D. Anand, QIB’s Personal Banking Group General Manager, said, “We would like to extend our con-gratulations to Ali Al Mslmani for winning the One Million Riyals prize. The Misk Account is a con-tinuation of our efforts and com-mitment to provide customers with convenient financial solu-tions, and we look forward to rewarding many more of our customers with valuable prizes.”

“I’m also pleased to announce the launch of the second round of the Misk

Account in order to continuously encourage our customers to save more. This year, we are offering

more prizes to more customers, giving them the chance to be rewarded for their savings on a weekly and monthly basis, while one lucky winner will again win a grand prize of one Million Riyals next year,” added D Anand.

In the new version of the Misk Account, every week, five lucky winners will be rewarded with cash prizes worth QR10,000 each for a span of 52 weeks and a total of 260 winners. In addition, two lucky winners will win the monthly prize of QR50,000 for a span of 12 months and total of 24 winners.

All citizens and residents of Qatar are eligible to open a Misk Account for themselves and their children who are not of legal age.

D Anand (right), QIB’s Personal Banking Group General Manager, with the grand prize winner, Ali Al Mslmani.

QFC’S Chief Legal Officer wins ‘General Counsel of the Year’ award

THE PENINSULA

DOHA: The Qatar Financial Centre (QFC), one of the world’s leading and fastest growing onshore business and financial centres, participated in the third Qatar Business Law Forum & Awards, organised by LexisNexis, during which the QFC’s Chief Legal Officer and Board Secretary Nasser Al Taweel was named ‘General Counsel of the Year’.

The 2018 ‘General Counsel of the Year’ award is a prestigious award that recognises the achievements of the Head of a Legal Department based on a set criteria that includes evidence of legal expertise; client satisfaction; innovation; strategic vision, and leadership, and is determined by a judging panel. The event is hosted by LexisNexis in part-nership with the Ministry of Commerce and Industry (Department of Legal Affairs), Qatar University (College of Law), and the Association of Corporate Counsel (ACC) Middle East.

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority said: “The award is an important acknowl-edgement of the tremendous efforts and world-class expertise exerted by our legal team, and the important role they play in helping the Qatar Financial Centre (QFC) con-tinue to provide an attractive platform for businesses to grow and contribute to Qatar’s l o n g - t e r m e c o n o m i c prosperity.”

Nasser Al Taweel, Chief Legal Officer and Board Secretary, QFC Authority said: “I am truly hon-oured to receive this prestigious award. The QFC’s Legal department as a whole has made significant strides over the past few years and this award serves as a testament to the depth of the QFC’s legal expertise, innovation, business success and strategic vision. This award also highlights the efforts committed by the QFC’s Legal department who boasts a wealth of experience across countless legal fields.”

QFC’S Nasser Al Taweel (left), Chief Legal Officer and Board Secretary receiving the ‘General Counsel of the Year’ Award at the Qatar Business Law Forum & Awards.

Doha Bank clients among top SMEs in QatarTHE PENINSULA

DOHA: Doha Bank SME portfolio was well recognised when six of its SME clients received awards as Top SME companies in Doha and has been presented SME Excellence Award by H E Sheikh Abdullah bin Saoud Al Thani, Qatar Central Bank Governor and QDB Chairman. Qatar Devel-opment Bank has recognized best 50 SME Customers in Qatar for the year 2018.

Doha Bank was a pioneer in appreciating the importance of the very critical role being played by SMEs in the development of Qatar economy. Doha Bank was the first bank to launch ‘Tatweer’, a dedicated SME unit in 2008.Through this initiative, Doha Bank would continue to partic-ipate in Qatar’s diversification story by encouraging the SME Sector.

Doha Bank congratulated its customers for their excellent per-formance in Qatar market by forming viable business models and making an impact on the Qatar economy. Award winning customers are: New Era Controls, Olive International School, Q-Star Trading Co.,Shahjan Trading & Contracting, Q Tickets& Events, Quantum Qatar.

Doha bank also honoured its six customers who got an award. Speaking on this occasion, Dr R Seetharaman, CEO of Doha Bank appreciated efforts of SMEs who got an award and said

“Recognizing the top performing SMEs in Qatar creates a motiva-tional environment within the business community in Qatar. SMEs are the emerging large cap companies of tomorrow and we already have number of success stories to boast off.” C K Krishnan, Chief Whole Sale Banking Officer of the bank said “SME Excellence award winner will be a key con-tributor to the overall devel-opment of the SME eco-system in Qatar”.

At its core, the SME Excel-lence List is aimed at: Providing a platform for SMEs to showcase their excellence “. Atul Kinra Head of SME said “Doha Bank is not only providing funding to SMEs but is also offering com-plete solutions to SMEs and has

also assisted SMEs to grow both professionally and business wise. We, at Doha bank are proud that our relationships with SME cus-tomers have matured along with the customer’s business and pro-fessional growth”.

Doha Bank firmly believes that today’s our success stories have encouraged other SME cus-tomers to approach Doha Bank for their financing requirements. Doha bank offers various products in order to service long term capital requirements of the customers in addition to short term working capital financing. The range of products includes Business loans, Short term pro-curement financing, Invoice/ Cheque discounting, Overdrafts, Letter of Credit and Guarantees

(bonds). Doha Bank also offers ancillary services and products like Electronic banking, Cash Management Services, Insurance products, etc.

Doha Bank is able to meet the requirements of SMEs engaged in contracting/ sub-contracting, trading, educational sector, hos-pitality sector, service sector, etc. Doha Bank is having a full-fledged SME team with expertise in relationship management, solution providing and credit skills.

Doha Bank is also one of the key partners in QDB’s ‘Al- Dhameen’, Credit Guarantee program which cover startups also, particularly in the field of manufacturing and service segment.

Doha Bank CEO Dr R Seetharaman and other officials with the winners.

Manateq to showcase investment opportunitiesTHE PENINSULA

DOHA: The Economic Zones Company-Qatar (Manateq), in collaboration with Qatar Chamber, is set to organise a one-day seminar tomorrow to showcase and introduce the various economic activ-ities and investment oppor-tunities available to private investors in the various industrial parks and logistics facilities being developed across the country.

The event will be attended by a large number of Qatari businessmen and industrialists, including Manateq which will

present business solutions and services available in the indus-trial and logistics areas. It will also talk about the benefits and incentives provided by the company to industrial investors.

The seminar is part of the joint cooperation between Qatar Chamber and Manateq to provide the opportunity for businessmen and investors and get acquainted about the advantages offered by the company in both logistics and industrial areas.

Manateq is committed to achieving the objectives of Qatar National Vision 2030 by

contributing to the diversifi-cation of Qatar’s economy by providing integrated infra-structure in areas with stra-tegic locations.

It is also committed to establishing a wide range of economic business sectors by developing local institutions while continuing to attract foreign investments and busi-nesses in the country.

The company works in close cooperation with existing or potential investors, creating a gateway to establish busi-nesses and provide favourable environment for growth and development in Qatar.

Bedaya highlights performance of entrepreneurs in different sectorsTHE PENINSULA

DOHA: Bedaya Center for Entrepreneurship and Career Development (Bedaya Center), a joint initiative by Qatar Development Bank (QDB) and Silatech, took part at the fourth edition of Qatar Entrepre-neurship Conference “ROWAD Qatar 2018” under the theme “Turning Challenges into Opportunities”, during the Global Entrepreneurship Week (GEW), from Nov 11 – 13, 2018, at Doha Exhibition and Convention Center.

The three-day conference, held under the patronage of the Prime Minister and Interior Minister, H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, was held with the objective of helping and supporting cre-ative and ambitious young people to establish their projects and explore their potentials, capabilities and skills. During the conference, Bedaya hosted a panel dis-cussion under the theme, “We changed mentalities” which highlighted the impact key entrepreneurs had made on the community in diverse sectors such as culture, society and economy.

Moreover, Bedaya during the conference, held its weekly advising session to facilitate the delivery of advice to

entrepreneurs and project owners. Moreover, Bedaya organized a networking session encouraging entrepre-neurs to learn from each other’s expertise and knowledge as well as get the service they need to improve their business.

Reem Al Sowaidi, General Manager of Bedaya Center, said: “The entrepreneurship sector in Qatar has witnessed positive and tangible results at all levels and a testament of this is that the country is ranked first in the Arab world and 22nd on a global level based on the report by the Global Observatory for Entre-preneurship, which demon-strates the interest and efforts of the state in this sector.

The large number of par-ticipants during the event is a clear indication of keen interest by concerned parties in the development of small and medium enterprises.”

She added: “During the panel discussion, we high-lighted the impact the entre-preneurs have made on the local society from different perspectives and diverse sectors, in addition to exploring opportunities to support the startup projects through con-sultations conducted by Bedaya’s team during the conference.”

The Misk Account

is a continuation

of our efforts and

commitment to

provide customers

with convenient

financial solutions,

and we look forward

to rewarding

many more of our

customers with

valuable prizes.

Dollar falls as Fed officials ring cautionREUTERS

NEW YORK: The dollar fell broadly in the wake of cautious comments from two US Federal Reserve officials about global economic growth, while sterling rose following losses tied to fears about a Brexit deal.

The greenback fell to one-week lows versus the euro and a two-week trough against the yen following comments from Fed Vice Chair Richard Clarida, who told CNBC television he saw some evidence that global growth was cooling.

10,214.19

+15.11PTS

0.15%

QSE FTSE100 DOW BRENT7,013.88

−24.13 PTS

0.34%

25,416.32

+127.05 PTS

0.50% Dow & Brent before going to press

$56.45

-0.01

MarketWatch

Page 3: BUSINESS - Home - The Peninsula Qatar€¦ · 17/11/2018  · 22 BUSINESS SUNDAY 18 NOVEMBER 2018 QIB announces Misk Account Millionaire THE PENINSULA DOHA: One year after the launch

The state-of-the-art

office spans twelve

floors and over 15,000

square metres of

space. Among its

modern facilities are

open plan co-working

spaces, spacious

meeting rooms and

private pods.

23SUNDAY 18 NOVEMBER 2018 BUSINESS

Commercial Bank opens new Alternatif Bank head office in Istanbul

THE PENINSULA

DOHA: Commercial Bank has opened the brand-new head office of Alternatif Bank at the Vadistanbul Bulvar complex in Istanbul, Turkey, which will bring together all of Alternatif Bank’s 650 employees under one roof.

The state-of-the-art office spans twelve floors and over 15,000 square metres of space. Among its modern facilities are open plan co-working spaces, spacious meeting rooms and private pods. It enjoys plenty of light and a contemporary décor.

Attending the opening cer-emony was Omar Hussain Alfardan, Commercial Bank Managing Director and Alter-natif Bank Chairman; Mohd Ismail Mandani Al Emadi, Commercial Bank Board Member; Joseph Abraham, Commercial Bank Group CEO and Alternatif Bank Vice-Chairman; and Kaan Gür, Alternatif Bank CEO. Other members of Commercial Bank and Alternatif Bank’s executive

management team were also present.

The opening ceremony took place on the side lines of Com-mercial Bank’s annual Analyst Day in Istanbul, where its exec-utive management team pre-sented details of the Bank’s strategy, key successes over the past year and plans for future growth.

Omar Hussain Alfardan said of the opening: “As the first Qatari investor in the Turkish banking industry, we continue to expand our investments in the name of Alternatif Bank.

It is a great pleasure to launch our Vadistanbul Head

Office building today, which is as a reflection of our confidence in the future of Turkey and Alternatif Bank. It is our highest priority in the coming period to increase our support and create new opportunities for the robust strategic collaboration between the allied and friendly nations of Qatar and Turkey.

We are certain that our investments in Turkey will con-tinue to grow and add value to the economies of both countries.”

Joseph Abraham com-mented: “We are very proud to open this new head office for Alternatif Bank after months of

hard work and preparation by our team. Turkey is a very important market for Com-mercial Bank. The two-way trade between Qatar and Turkey is growing very rapidly.

Mutual investments are going up and more Turkish companies are now opening businesses in Qatar.

Qatari companies are also entering Turkey in a big way, so it is an exciting time to cement our presence here with the opening of this new head office.”

Kaan Gür added: “Our new head office in Vadistanbul is a prestigious complex with

extensive recreational and social areas that is larger than our previous head office building and operations tech-nology centre combined.

At the heart of all efforts carried out by our bank lies an appreciation for people and our people-oriented approach based on the happiness of our employees.

We have designed our new building to be more com-fortable and modern, based on an innovative architectural approach and open-office concept in accordance with the needs and expectations of our employees.”

Commercial Bank owns 100 percent of Alternatif Bank’s shares. It became the majority shareholder in 2013 holding an initial 74.24 percent stake and purchased the remaining shares from Anadolu group in December 2016.

Top executives of Commercial Bank and Alternatif Bank cutting the ceremonial ribbon to mark the opening of Alternatif Bank head office in Istanbul.

The newly-opened head office of Alternatif Bank in Istanbul.

Business Continuity and Resilience Conference to open on TuesdayTHE PENINSULA

DOHA: Under the patronage of the Ministry of Commerce and Industry, the 2nd Business Conti-nuity and Resilience Conference will be held on Tuesday, November 20, 2018, at the Sheraton Grand Doha Resort & Convention Hotel, with the partic-ipation of industry experts, stake-holders, private sector companies, and respected officials from Arab and foreign countries.

The Ministry of Commerce and Industry has stated that Qatar has successfully established itself as one of the most powerful, diversified and competitive econ-omies in the region, in line with the directives of the Amir H H Sheikh Tamim bin Hamad Al Thani to realise the Qatar National Vision 2030.

The Ministry noted that the wise policies adopted by the State have contributed to supporting the private sector into becoming an active partner in the national economy, stemming from the country’s belief in the sector’s pivotal role in supporting the economy and achieving sus-tainable development.

In this context, the Ministry of Commerce and Industry pointed out that it is keen on developing advanced legislative and admin-istrative mechanisms to support the performance of private sector companies operating in the country.

The Ministry reaffirmed its keenness on enhancing institu-tional practices that are set to support business continuity for companies and enable them to manage various risks in light of the constant changes witnessed by the global economy.

This dovetails with the Min-istry’s recognition of business continuity and risk management programs as vital tools that support the competitiveness of companies and enhance their presence in local markets, in addition to helping them boost

their contribution to the nation’s GDP, in order to support Qatar’s march towards achieving sus-tainable development.

The Ministry stated that its patronage of the 2nd Business Continuity and Resilience Con-ference, held under the slogan “Towards a reliable economy”, comes as part of its efforts to support business continuity and risk management practices and promote their utilisation for the establishment of a strong private sector capable of actively partic-ipating in the prosperity and progress of Qatar.

On its part, the Qatari Busi-nessmen Association expressed its pride to be the strategic partner for the Conference. On this occasion, Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatari Businessmen Association, said “The Qatar Businessmen Association is pleased to be the strategic partner for the second edition of the Business Continuity Conference in Qatar, which is being held this year under the theme” Towards a Reliable Economy “.

Through its working sessions, QBA aspires to fruitful discussions and exchanges of views, ideas and insights among participants from officials, experts, specialists and professionals in the field of business continuity, crisis man-agement and managing potential

risks facing companies.“QBA affirms its confidence

that the conference will produce recommendations and results that benefit the business sector and contribute to enhancing its capacity and preparedness to address any potential risks or crises.”

Chairman of the Business Continuity Institute (BCI) Qatar Forum and Chairman of the Con-ference Abdullatif Ali Al Yafei said that the 2nd Business Continuity and Resilience Conference is taking place at a critical time, given the great success achieved by Qatar both at the State level as a whole, and individually on the level of the public and private sectors, in tackling the conse-quences of the unjust blockade and neutralising any potential negative repercussions that could have affected the Qatari economy.

“Qatar has managed to make the blockade a thing of the past, as its effects have been com-pletely overcome and all official indicators confirm that the Qatari economy has never been stronger, with data released by various stakeholders, both in Qatar and international institu-tions, clearly indicating that the performance and development of various economic sectors is growing more rapidly than ever before.”

Sheikh Faisal bin Qassim Al Thani (left), Chairman of the Qatari Businessmen Association and Abdullatif Ali Al Yafei, Chairman of the Business Continuity Institute (BCI) Qatar Forum and Chairman of the Conference. Fed Chairman’s job to get a lot more

complicated after December hikeBLOOMBERG

WASHINGTON: For Federal Reserve Chairman Jerome Powell (pictured), the days of straightforward policy meetings are numbered.

An interest-rate increase at the December 18-19 gathering of the US central bank is priced at around 70 percent odds and the case for a move, backed up by comments from Powell and his colleagues this week, is sup-ported by strong economic growth and ultra-low unemployment.

But a hike next month would also lift the top Fed’s benchmark target rate to 2.5 percent -- the bottom of offi-cials’ range of estimates for a neutral policy setting that neither spurs nor slows growth. Going forward, officials will have to decide how much higher to go. Investors are reading their recent remarks as backing off from a policy on autopilot to a strategy that could see them pause in 2019 and wait for feedback from the economy.

“There is this narrative that the Fed is going to keep hiking until something breaks,’’ said Neil Dutta, an economist at

Renaissance Macro Research. “I don’t buy that. Global growth weakness has caught their attention.’’

Fed officials in September estimated a range of 2.5 percent to 3.5 percent for a neutral policy rate.

The Fed’s benchmark policy rate is currently 2 percent to 2.25 percent.

Subsequent moves, as Pow-ell’s remarks about maneu-vering in the dark made clear, are highly dependent on what they bump into and what the shape of things they encounter tell them about the outlook.

Officials including Fed Vice Chairman Richard Clarida and Chicago Fed President Charles Evans are not comfortable maintaining a stimulative rate

at a time when the labor market is beyond their estimate of full employment and inflation is at their 2 percent target.

The Fed’s dot-plot of quar-terly interest rate forecasts, which will be updated next month, showed a fourth 2018 rate hike penciled in for December and three more moves next year.

“Being at neutral would make sense,” Clarida told CNBC on Friday. Evans, speaking later in the day, used almost identical language at an event in Chicago. “It makes a lot of sense to at least get back to neutral,” he said.

Despite their desire to keep moving, there are plenty of signs that their rate increases are starting to have an impact. Housing markets have slowed, financial market volatility has increased, and credit spreads have widened as investors reassess the outlook for growth and profits. What’s more, esti-mates for global growth are slowing.

“The global economy is something” the Fed has to pay attention to, Clarida said, adding that there “is some evidence that it’s slowing.”

ECB to keep a brave face on shaky euro economyBLOOMBERG

PARIS: The euro-zone economy is testing the mettle of European Central Bank policy makers, who need to judge whether a multitude of uncertainties are crystallising into serious risks to growth. Officials are putting faith in domestic resilience and say temporary factors that dragged on the third quarter should fade. The broad message: after a period of youthful exuberance, it’s more a case of the expansion hitting middle age than moving into terminal decline.

But there’s concern too, with President Mario Draghi warning Friday of a rise in trade uncertainty. He also highlighted the potential for external risks to seep into the euro economy, damage sentiment and put the brakes on investment.

“We need to monitor these trade risks very care-fully over the coming months,” Draghi said. “However, we still see the overall risks to the growth outlook as broadly balanced, in large part because the underlying drivers of domestic demand remain

in place.” Recent numbers paint a grim picture, with growth slowing and Germany, the euro area’s biggest economy, shrinking for the first time since 2015. Business confidence has weakened and there’s reasons to fear for the outlook given the protectionist threats and ongoing budget battle in Italy. The euro fell to a 17-month low earlier this week.

The validity of the resilience hypothesis will determine whether the ECB can stick to its path out of stimulus. The next crunch call comes in December, when the bank will have new forecasts and a clearer view of how material the risks are, and whether “bal-anced” needs to be replaced by “downside.”

Previous cycles suggest the expansion may have the legs to power through the headwinds. According to ING, it’s still relatively young by historic standards.

For now, policy makers are sticking to the glass-half-full view. This week, Bundesbank President Jens Weidmann said the recovery remains “intact’’ and ECB Executive Board member Peter Praet that demand is still “robust.’’

Page 4: BUSINESS - Home - The Peninsula Qatar€¦ · 17/11/2018  · 22 BUSINESS SUNDAY 18 NOVEMBER 2018 QIB announces Misk Account Millionaire THE PENINSULA DOHA: One year after the launch

Mahindra expands electric technologyMahindra Electric CEO Mahesh Babu (left) and Mahindra Electric Chairman Pawan Goenka pose for a photograph during the launch of the Treo, the company’s first lithium ion battery-powered three-wheeler, during the inauguration of Mahindra’s Electric Technology Manufacturing Hub in Bangaluru, in Karnataka state.

24 SUNDAY 18 NOVEMBER 2018BUSINESS

China’s investment boom in Africa set to reshape economic order: QNB

China is once more

proving to have the

appetite to take

risks and search for

yield while fulfilling

the national aim of

improved energy and

mineral security.

From 2011 to

2016, outstanding

Chinese FDI in Africa

increased by 130

percent to stand at

$53bn, against flat

levels from the

US & UK.

THE PENINSULA

DOHA: A new economic order is emerging in Africa as the composition of foreign investment and trade changes. China’s economic footprint in Africa is rapidly outstripping the regional position of the US. Africa has been trading more with China than with the US since 2008, QNB noted in its weekly ‘economic commentary’.

Last year, Africa — China trade was over three times higher than US — Africa trade. Chinese direct investment (FDI) flows to Africa have surpassed those from the US for the first time in 2014.

From 2011 to 2016, out-standing Chinese FDI in Africa increased by 130 percent to stand at $53bn, against flat levels from the US and UK. The largest recipients of Chinese FDI were, respectively, South Africa ($6.5bn), Congo ($3.5bn), Algeria ($2.5bn), Nigeria ($2.5bn), Zambia ($2.5bn) and Zimbabwe ($1.8bn).

Three factors contribute to the spree of Chinese FDI in Africa. First, China’s resource-intensive growth is coupled with Africa’s relatively untapped natural wealth. China’s growth is still dominated by fixed

investments and therefore demands large volumes of imported energy and metals. Around 31 percent of China’s total imports are commodities, including 13 percent of hydro-carbons and mineral fuels.

While the demand is there, Africa’s resource-abundant countries often lack the capital or skills to extract natural resources. This complemen-tarity prompts resource-seeking Chinese FDI in Africa.

Second, China’s ‘financial diplomacy’ or bilateral loans are a major source of support for Chinese activities in Africa, con-tributing to push additional investments into the continent. According to the China-Africa Research Initiative, Chinese government, banks and

contractors extended $143bn in loans to African governments and their state-owned enter-prises (SOEs) from 2000 to 2017.

Most of these loans are asso-ciated with Chinese policy banks such as the Export-Import Bank of China, China Development Bank and Agricultural Devel-opment Bank of China.

With a book of $35.5bn in loans to 500 projects in 40+ countries in Africa, the China Development Bank became the largest provider of conces-sionary loans to the continent, surpassing even the World Bank.

A large amount of these loans to Africa are in the form of export or supplier’s credit, often arranged within the tra-ditional ‘Angolan model’ i.e., financial cooperation packages

modelled as bilateral resources for infrastructure deals. In fact, 81 percent of the total Chinese loans are directed to either infrastructure or commodity related sectors in Africa.

Chinese loans to Africa usually come with ‘strings attached’ and require Chinese exports or participation in the project being financed, but their actual and potential benefit for the region should not be understated.

According to recent esti-mates of the African Devel-opment Bank, Africa needs to invest $130-170bn annually in

infrastructure, and the financing gap is currently in the range of $70-110bn.

Third, Africa is becoming ever more cost effective for large Chinese manufacturers. As China catches up with advanced economies and local salaries naturally rise, industrial pro-duction is gradually migrating to regions with lower costs, including Africa.

As of 2016, around 13 percent of outstanding Chinese FDI in Africa were in the man-ufacturing sector, against 28 percent in construction and 26 percent in mining. Moving

forward, however, the manu-facturing share is set to increase.

With lower labor costs, African countries such as Ethiopia and Rwanda are expected to continue to attract Chinese FDIs in labour intensive sectors, including the textile and footwear industry.

In short, China’s direct investments in Africa are booming and conditions are given for further growth. Impor-tantly, Chinese president Xi Jinping has renewed China’s commitment to Africa during the Forum on China-Africa Coop-eration held in Beijing last Sep-tember. China has promised to mobilize another $60bn to Africa over the coming years.

This is extremely important in a context in which US mon-etary policy tightening will heighten Africa’s refinancing and rollover risks.

While there are legitimate concerns about the level of foreign currency indebtedness in Africa, Chinese authorities seem to be interested in miti-gating risks by increasing trans-parency and compliance. China is once more proving to have the appetite to take risks and search for yield while fulfilling the national aim of improved energy and mineral security.

Tesla starts taking Model 3 sedan orders from ChinaREUTERS

BENGALURU: Tesla Inc has started taking orders for its Model 3 sedan in China for a deposit of 8,000 yuan ($1,153.60), according to the electric carmaker’s China website www.tesla.cn/model3/reserve.

Chief Executive Officer Elon Musk (pictured) said, “Probably some deliveries in March, but April is more certain”, after a Twitter user asked when the deliveries in China would begin.

Tes la decl ined to comment.

The company has been banking on its Model 3 sedan, the performance of which is seen crucial to the carmaker’s future. Shares of Tesla rose 1.6 pct at $353.93 in morning trading.

China is the largest market for electric vehicles and most forecasters predict that its sales in the country will speed up rapidly as government reg-ulation drives toward a goal of 100-percent electric vehicles by 2030.

Tesla had signed a deal with Shanghai authorities in July to build its first factory outside the United States, which would cost around $2bn to construct and would double the size of its global manufacturing.

The Shanghai Gigafactory, based in eastern China, aims to manufacture Model 3 and Model Y cars, with annual capacity of 250,000 vehicles, according to a filing.

Tesla is also developing plans to start producing about 3,000 Model 3s per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.

197 state-owned Pakistani enterprises run into lossesINTERNEWS

ISLAMABAD: Amid PTI government’s plan to overhaul public sector companies, Ministry of Finance has silently admitted that total 197 state-owned enterprises (SOEs) have turned from profit earning to net loss making entities with whopping deficit of Rs44.77bn in one year first time in the country’s history.

In a fresh released official SOEs Annual Report for 2015-16 comprising 306 pages, the Ministry of Finance has conceded this alarming fact that total net profit of SOEs stood at Rs193.5bn in fiscal year 2014 that has nosedived to Rs52.934bn in FY 2015. However, this net profit has now turned into net loss for whole 197 SOEs and the national exchequer faced a loss of Rs44.772bn in FY 2016.

The report explained that the actual loss is largely a result of the losses booked on the balance sheet of power distribution companies (DISCOs).

The profitability for DISCOs declined due to a pending court order between Ministry of Energy (Water and Power Division) and Nepra that pre-vented the revised actual tariff for implementation on account of prior year adjustments.

With new tariff notified in March 2018, it is expected that DISCOs will recoup these losses in subsequent years, Ministry of Finance further stated.

Top ten cash bleeding SOEs have caused accu-mulated losses of Rs225.9bn just in one year. The national flag carrier PIA tops among ten deficit bearing entities as it faced losses of Rs45.276bn.

The PIA faced deficit of Rs45.276bn, Quetta Electric Supply Company (QESCO) Rs34.608bn, Hyderabad Electric Supply Company (HESCO) Rs27.246bn, Pakistan Railways Rs26.994bn, Sukkur Electric Power Company (SEPCO) Rs21.739bn,

Pakistan Steel Mills Rs18.757bn, Peshawar Electric Supply Company (Pesco) Rs14.508bn, Faisalabad Electric Power Company (Fesco) Rs13.311bn, Lahore Electric Supply Company (Lesco) Rs11.184bn and Multan Electric Power Company (Mepco) Rs10.294bn.

Among top ten profit making companies, OGDCL clinched first position by making profit of Rs59.971bn and National Bank of Pakistan (NBP) earned profit of Rs22.752bn and stood at second position. The remaining profit making entities included Wapda, Parco, Government Holding Private Limited (GHPL), PPL, PSO, Gepco, NTDCL and Pak-Kuwait Investment Company.

For FY2015/16, the total number of SOEs increased from 183 in FY2014/15 to 197 in FY2015/16.

The GOP established new Re-gasified Liquified Natural Gas (RLNG) terminal companies and RLNG power generation companies to facilitate instal-lation of power plants for trading and procurement of RLNG at competitive terms. In terms of sectoral classification, promotional and advocacy sector has most number of SOEs (46) with most of them operating as funds and foundations and research and development entities for industries and production.

Energy sector comes next with 39 entities and has the biggest asset size in the entire SOEs port-folio with companies ranging from hydrocarbons to power distribution, transmission, generation and trading.

On human resources, the number of individuals employed has seen an increase by approximately 5.3 percent from 402,543 individuals in FY2014/15 to 424,014 in FY2015/16, largely due to new investment thrusts in the energy, transport and infrastructure sector.

Thomas Kurian to replace Diane Greene as Google Cloud CEOREUTERS

SAN FRANCISCO: Former Oracle Corp product chief Thomas Kurian (pictured) will replace Diane Greene as head of the cloud division at Alphabet Inc’s Google in the coming weeks, Greene announced in a blog post on Friday, after a tumultuous year for the business.

Greene said she had joined Google three years ago with plans to leave after two years and will move into investing and philanthropy in January. She will remain on Alphabet’s board.

Kurian, who spent 22 years at Oracle and had been a close confidante of its founder Larry Ellison, resigned in September after struggling to expand its cloud business.

Greene has served as chief executive of Google Cloud; Kurian will be senior vice pres-ident for Google Cloud, a company spokesman said.

Google announced in Feb-ruary that the cloud division, which sells computing services, online data storage and

productivity software such as email and spreadsheet tools, was generating more than $1bn in quarterly revenue.

It faced a setback months later when thousands of Google employees revolted against Greene’s unit supplying the US military with artificial intelli-gence tools to aid in analysing drone imagery. Greene responded by announcing the deal would not be renewed.

The backlash over military work prompted an internal committee of top employees to issue company wide principles to govern the use of Google’s artificial intelligence systems, including a ban on using them

to develop weaponry. The move essentially limited

the cloud unit’s potential cus-tomer base.

Google also bowed out from bidding for a $10bn military cloud computing contract, citing its lack of certifications to handle sensitive data.

Closing and extending such deals would have given Google Cloud a major boost as it tries to catch up to rivals Amazon.com Inc and Microsoft Corp. Oracle’s cloud business trails Google’s.

Steve Koenig, a financial analyst following Oracle for Wedbush Securities, said Kurian is better positioned at Google to drive business sales growth than at his former employer.

“Like Diane Greene, Kurian has serious enterprise chops,” Koenig said. “Google clearly remains serious about scaling up its enterprise business.”

Greene said Kurian inter-viewed with her, Google CEO Sundar Pichai and long-time infrastructure chief Urs Hölzle and will join Google on November 26.

Oil edges up in volatile session but falls for sixth straight weekREUTERS

NEW YORK: Oil ended slightly firmer after volatile trading, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns.

Brent settled up 14 cents, or 0.2 percent, at $66.76 a barrel. The global benchmark fell 4.6 percent in the week, the sixth consecutive decline.

US crude settled unchanged at $56.46 a barrel after trading between $55.89 and $57.96. The contract, which had its steepest one-day loss in more than three years on Tuesday, fell 5.6 percent in the week, also its sixth straight weekly decline.

After Tuesday’s sharp fall, the market was due for a slight correction, and was now sta-bilizing, said Tariq Zahir, man-aging member at Tyche Capital Advisors in New York.

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25SUNDAY 18 NOVEMBER 2018 BUSINESS

BREAK TIME

Bombardier CEO meets investors as stock dives 20%REUTERS

MONTREAL: Bombardier Inc’s top executives met with investors in Montreal after a disappointing free cash flow forecast and regulatory action, which sent the plane and train maker’s shares down 20 percent, sources familiar with the matter said.

The Montreal meeting with Bombardier Chief Executive Alain Bellemare and Chief Financial Officer John Di Bert was previously scheduled but “the (high) participation and level of interest was driven by recent events,” said one of the two sources.

Bellemare had already met with investors following the free cash flow forecast on November 8, which sent its shares down more than 23 percent on that day. The Canadian company said it would only be able to meet its 2018 free cash flow estimate by using $635m in proceeds from the sale of a Toronto plant earlier this year. Analysts had expected Montreal-based Bombardier to achieve its target of roughly

breaking even on cash without relying on those proceeds.

Bellemare, credited with improving Bombardier’s finances after a crippling 2015 cash crunch, sought to reassure investors that the company would still achieve the com-pany’s five-year turnaround plan designed to boost revenues and margins by 2020, said the source who could not provide

further details on the meeting.The sources declined to be

identified as the information is not public. A Bombardier spokesman declined to comment when asked about the meeting.

On Thursday, the province of Quebec’s securities watchdog asked Bombardier to halt stock trades under a plan set up to facilitate share sales by certain senior company executives.

The Autorité des marchés financiers (AMF) said it was “reviewing” transactions and “various announcements” related to Bombardier’s creation of an Automatic Securities Dis-position Plan on August 15.

Bombardier stock closed down 20 percent at C$1.67, adding to last week’s 31 percent slide.

The sell-off in the stock also spread to bonds. Bombardier has about C$12.3bn ($9.35bn) of bonds outstanding, much of which has been issued in US dollars, according to Refinitiv Eikon data.

The yield on Bombardier’s 7.5 percent US dollar bond maturing in March 2025 has jumped by nearly 300 basis points over the last two weeks to 9.87 percent, its highest since July 2016.

Jamie Koutaoukis, Moody’s lead Bombardier analyst, said by email that she downgraded the company’s senior unsecured debt in 2017 “highlighting at that time that we expected continued negative free cash flow in 2018, in contrast to guidance.”

Alain Bellemare, President and CEO of Bombardier Inc, speaks during a news conference in Pointe-Claire, Quebec, Canada.

Pound’s fate could worsen as investors see multitude of risksBLOOMBERG

LONDON: Pound traders are faced with several scenarios as political turmoil surrounds UK Prime Minister Theresa May, and few look positive.

With this week’s events sug-gesting May’s Brexit plan doesn’t have strong support, investors now wonder what the premier’s next move will be if her deal is rejected in Parliament. May’s options include negotiating another deal with the European Union, holding a second Brexit referendum or even a general election, all as she faces the pos-sibility of a no-confidence vote in her leadership.

Any of these events would make reaching a divorce agreement between Britain and the EU by year-end extremely difficult and the pound could plunge to $1.20, according to Credit Agricole SA. BlueBay Asset Management and Aberdeen Standard Investments are among those who are similarly pessi-mistic on the currency’s outlook.

“The chance of the existing deal going through looks low,” said Mark Dowding (pictured), a money manager at BlueBay, which oversees the equivalent of $60 billion. “In the short term, a no-deal probability will rise.”

Sterling steadied Friday after dropping more than 2 percent at the peak of the UK political drama a day earlier. The pound could slide when trading resumes in Asia Monday should 48 Tory MPs submit letters of no-confi-dence in May. Her determination to stay as PM seemed to reassure

the market in the short term, but longer term, the Parliamentary vote on the Brexit deal remains the key hurdle.

BlueBay’s Dowding is short pound versus both the euro and dollar, and is also short gilts on the view a significant collapse in the British currency would hit all UK assets.

Sterling could reach $1.20 in a very short time if the deal doesn’t pass the lawmaker hurdle, said Credit Agricole’s Val-entin Marinov.

“Given that the currency markets are the most liquid asset at investors’ disposal, shorting the pound could become the path of least resistance or, if you wish, the Brexit pressure valve, for many clients,” said Marinov, head of Group-of-10 currency strategy at the French bank. “This could mean that the drop toward $1.20 may take less than a week.”

The market has turned more bearish on the burgeoning UK political crisis, with demand for options to sell the pound climbing to the highest since 2016. James Athey, a money manager at Aberdeen Standard, which oversees $736bn, said he exited his long position in pound-dollar Thursday morning as the political turmoil clouded the short-term outlook for the currency.

Hard Brexit would be disastrous says German industryREUTERS

BERLIN: Britain crashing out of the European Union without a divorce deal would have disas-trous consequences for companies and workers in Britain and across Europe, the head of the BDI German Feder-ation of Industry said yesterday.

Britain’s Prime Minister Theresa May is fighting to defend a draft deal agreed with the EU but opposition from both within and outside her party has raised

the possibility of a no-deal hard Brexit or even another referendum.

Dieter Kempf told Funke Mediengruppe newspaper chain that a no-deal Brexit would hit the automotive, aerospace, chemical, pharmaceutical, engi-neering and electrical industries particularly hard. But service industries including banking and tourism would also be affected.

“A hard Brexit would be dis-astrous,” Kempf said, adding that German firms should prepare for

a no-deal exit of Britain from the European Union. “It would cause great difficulty for tens of thou-sands of companies and hun-dreds of thousands of workers on both sides of the English Channel,” he said.

More than two years after the United Kingdom voted to leave the EU, it is still unclear how, on what terms or even if it will leave as planned on March 29, 2019.

Opponents of the agreement with the European Union, which still has to be approved by the

British parliament, say it is the worst of both worlds, leaving the bloc with too much power over Britain while taking away its say in making the rules.

Kempf said German industry and government should brace for further uncertainty in coming months.

“I appeal to the lawmakers in the British parliament to be conscious of their responsibility,” he said. “The ball is in London’s court ... New negotiations are not the answer.”

VILLAGGIO & CITY CENTER

Note: Programme is subject to change without prior notice.

Kaatrin Mozhi (2D/Tamil) 2:00pm; Amar Akbar Antony

(2D/Telugu) 2:30pm; Pihu (2D/Hindi) 5:15 & 7:15pm; Fantastic Beasts: The Crimes Of Grindelwald (2D/Fantasy)

4:45, 7:00, & 9:00pm; Mangalayam Thanthunnanena (2D/

Malayalam) 11:30pm; The Grinch (2D/Animation) 2:30pm; Bonnie Bear III: Big Top Secret (2D/Animation) 4:15pm Cinderella And The Secret Prince (2D/Animation) 6:15pm; Thugs Of Hindostan (2D/Hindi) 8:00pm; Bohemian Rhapsody (2D/Drama) 9:30pm; Sarkar (2D/Tamil)

11:00pm; Galveston (2D/Arabic) 11:45pm

Mangalayam Thanthunnanena (2D/Malayalam) 2:15pm; The Grinch (2D/Animation) 2:15pm; Bonnie Bear III: Big Top Secret (2D/Animation) 2:30pm; Kaatrin Mozhi (2D/Tamil) 4:45pm; Cinderella And The Secret Prince (2D/Animation) 4:15pm; Dog Days (2D/Comedy) 4:45pm; Thugs Of Hindostan (2D/Hindi) 8:30pm; Fantastic Beasts: The Crimes Of Grindelwald (2D/Fantasy)

4:00, 6:00 & 8:30pm; Galveston (2D/Arabic) 9:15pm; I Still See You (2D/Fantasy) 7:30pm; Sarkar (2D/Tamil) 11:00pm; Mara (2D/Crime) 11:30pm; Amar Akbar Antony (2D/Telugu) 11:00pm

Amar Akbar Antony (2D/Telugu) 2:30pm; The Grinch (2D/Ani-

mation) 2:30pm; Cinderella And The Secret Prince (2D/Ani-

mation) 4:30pm; Kaatrin Mozhi (2D/Tamil) 4:45pm Fantastic Beasts: The Crimes Of Grindelwald (2D/Fantasy) 6:15 & 8:45pm; Dog Days (2D/Comedy) 5:15pm; Bohemian Rhapsody (2D/Drama) 9:00pm; Blue Night (2D/

Drama) 7:15pm; Kaatrin Mozhi (2D/Tamil) 11:15am Mangalayam Thanthunnanena (2D/Malayalam) 11:15pm;

Sarkar (2D/Tamil) 8:00pmMangalayam Thanthunnanena (2D/Malayalam) 5:30, 8:15, 11:00pm; Pihu (2D/Hindi) 6:00pm; Kaatrin Mozhi (2D/Tamil) 9:00pm & 12:00 midnight; Thugs Of Hindostan (2D/Hindi) 9:00pm & 12:00 midnight; Amar Akbar Antony (2D/Telugu) 6:00pm

Thugs Of Hindostan (2D/Hindi) 10:45am, 5:00 & 11:15pm; Kaatrin Mozhi (2D/Tamil) 11:30am, 5:30 & 11:30pm; Sarkar (2D/Tamil) 2:30 & 8:30pm; Amar Akbar Antony

(2D/Telugu) 11:30am, 5:30pm; Mangalayam (2D/Malayalam)

2:30, 8:30 & 11:30pm The Fantastic Beast 2:00 & 8:15pm

Amar Akbar Antony (2D/Telugu) 12:30, 4:00, 7:00 & 10:00pmCinderella And The Secret Prince (2D/Animation)

12:30, 2:30, 4:30 & 6:30pm; The Fantastic Beast 3:30, 6:00,7:15, 10:00 8:45 & 11:30pm; Mangalayam ( 2D/Malayalam) 8:30 & 11:00; Sarkar (2D/Tamil) 1:00 & 4:30pm; Thugs Of Hindostan

(2D/Hindi) 12:30 & 1:00pm

A look at the lives of Imperial deceivers, thugs who stole from travelers, in India during the 1830s. Based on the novel ‘Confessions of a Thug’ by Philip Meadows Taylor.

ROYAL PLAZA MALLCROSSWORD

LANDMARK

FLIK Mirqab Mall

ROXY

ASIAN TOWN

AL KHOR

Bohemian Rhapsody (2D/Drama) 12:30, 4:20, 6:15pmEl Kowayseen (2D/Arabic) 8:10pmFantastic Beasts: The Crimes Of Grindelwald (2D/

Fantasy) 10:45am, 1:30, 4;15, 12:40, 3:20, 6:00, 8:40 & 11:20pmThe Grinch (2D/Animation) 10:35pmGalveston (2D/Arabic) 10:40pmSarkar (2D/Tamil) 2:10, 9:00pmThugs Of Hindostan (2D/Hindi) 5:30pm & 0:20am

THUGS OF HUNDOSTAN

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26 SUNDAY 18 NOVEMBER 2018CLASSIFIEDS

TOWERS

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REGENCY PEARL 2 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������G��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�8;02�??20� �::<7<070� �??;;�=>07� �::<:�;2=>����"%�'4)����*����������@�����������������

REGENCY PEARL 1 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������G��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)� 567829�::<8�<=7>� � �::<7�<070� �??;;�=>07����"%�'4)����*����������@�����������������

REGENCY PEARL 2 (THE PEARL):�3���+�.���������(�������+*��� ��������� ������� �� ������� ���� �������� � � �������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������G��*������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�8;02�??20 �::<7<070� �??;;�=>07� �::<:�;2=>����"%�'4)����*����������@�����������������

REGENCY PEARL 2 (THE PEARL): Fully furnished 1 C���������������������������������������������� ��������������-��� ��!�"�#$� �%"&'#'"()� (�������� *����� �+��� ��..����������������D��*�+�������!�"�#$�("�/'�"()�02�������G��*�

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REGENCY PEARL 1 (THE PEARL): Fully furnished 1 �������� ��� ��������� ������ �������� ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()�02� ������ G��*� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20 � ::<8� <=7> �::<7� <070� � :::2� =?;<� � ::<:� ;2=>� ��� "%�'4)� � ���*���=�������@�����������������

REGENCY PEARL 1 (THE PEARL): Fully furnished 1 �������� ��� ��������� ������ �������� ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()�02� ������ G��*� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20 � ::<8� <=7> �::<7� <070� � :::2� =?;<� � :::0� ?=2;� ��� "%�'4)� � ���*���=�������@�����������������

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REGENCY PEARL 1 (THE PEARL): Fully furnished =� �������� 6� �.H���� ��������� ������ �������� � ������� �� ����������� �������� � � ����������� ��-��� ��!�"�#$� �%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+�� ���������� �� ���������� �� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::<8�<=7>� �::<7�<070� � ??;;� 0>72� � ??;;� 0>:?� ��� "%�'4)� ���*���=�������@������������������ REGENCY PEARL 2 (THE PEARL):� 3���+� .��������� 0���������� �� ��������� ������ �������� � ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������D��*�+�������!�"�#$�("�/'�"()�02� ������ �������+�� ���������� �� ���������� �� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20� � ::<7�<070� � ??;;� 0>72� � ??;;� 0>:?� ��� "%�'4)� ���*����������@�����������������

UMM BAB TOWER (WESTBAY):� 3���+� .��������� 0����������0�%����-��������������������������������������������� ��������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�'���������������*�����.���+��I��**����+��������+����������D��*�+������� �� �������� *������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>072>0=� �:::0�?=2;� �::<7�:7:?� �::<7�;2?0����"%�'4)������+�������@�������������������

UMM BAB TOWER (WESTBAY):� 3���+� .��������� >��������� 6� ���-� ����� � � J�����)� >� %����-�� �������� �������������������������������������������� ����������������������!�"�#$��%"&'#'"()� '���������������*����� .���+��I��**����+��� �����+����������D��*�+�����������������*�������3!��%!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� >>072>0= � ??;;�2?>?� � :::=� 08>2� ::<7� <070� ��� "%�'4)� �����+�������@�����������������

VILLA DESTE 1 (AL WAAB):�(����.���������>�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0�=8=>� �::<7�:7:?� �::<7�;2?0�� ??;;�2?>?�����"%�'4)�����������@�����������������

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

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

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

BEVERLY HILLS GARDEN 2 (AL WAAB): Semi .���������2��������������)�0�%����-��C����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� �������

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

VILLA DESTE 1 (AL WAAB):�(����.���������:�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0�=8=>� �??;;�0>72� �??;;�0>:?� :::0�?=2;����"%�'4)�����������@������������������ AZGHAWA COMPOUND (AZGHAWA): Semi .���������2� ������������)� >� ���������� ������ �������� ������� �������������������������!�"�#$��%"&'#'"()�(�����������������������*���������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>07� 2>0= � ::<7� ;2?0� � � ??;;� 2?>?� � :::=� 08>2� ��� "%�'4)���++��������@�����������������

AIN KHALID COMPOUND (AIN KHALID): Fully .��������� =� �������� �)� �������� ������� �� ������� ��� �������������!�"�#$��%"&'#'"()�(��������*������+���������������*�������� �� ���-�� *�+� ���� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>2>�>=?<� �::<:�;2=>� �:::2�=?;<� �??;;�0>72����"%�'4)����������@�����������������

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

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REGENCY RESIDENCE ALSADD 3 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ��������������������������������������������� ��������������������� �������� � � ������������ ��� ��!�"�#$�("�/'�"()� 02�G������������+��������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� ??;;�0>:?� �:::0�?=2;� �::<7�:7:?� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 10 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ���������������� ������ ��������� ������ �������� ������� ��� ���������� �������� ����� ������������ ��� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� ??;;� 0>:?� � :::0� ?=2;� �::<7� :7:?� ��� "%�'4)� �����������@������������������������������@������������������

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

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SALWA ROAD OFFICES:� %�������� 6� =��� 3����)� =0�!.H����� 4������ ���� =?2� ��� =72� �I�� �� 0� ������� (����� ����!.H���� 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� ::<7�;0;8�����"%�'4)���������@�����������������

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

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