Sunday 21 June 2020 To advertise contact: Tel: 44557 857 or email: adv@pen.com.qa

04 SUNDAY 21 JUNE 2020CLASSIFIEDS

SITUATION VACANT

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Plumbers, Painter, Electrician, Mason (Plastering

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Contact: 44671224Or send CV: info@p2p-designs.com

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Please send your CV with latest Photo to: qatardilu@gmail.com

05SUNDAY 21 JUNE 2020 CLASSIFIEDS

ARTECHSage Accounting, Peachtree, QuickBooks, Dynacom, DacEasy, Tally, POS, Bar Code, Fixed Assets Software’s.Tel: +974 44375654 E-mail: artech@ar-technology.net

ACCOUNTING SOFTWARES

GEM ADVERTISING & PUBLICATIONS(Overseas Newspaper Advertisements) Tel: 44442001 - GSM: 55783303

ADVERTISING OVERSEAS NEWSPAPER

ATTESTATION

CALIBRATION SERVICES

ASIA TRANSLATION & SERVICES CENTRELeading Legal Translators & Document Legalization Since 1987. Indian Certificate Attestation. Head Office: 44364555/50233133 - Al Hilal Branch: 44621334 - Salwa Road Branch: 66038181 Mobile Contacts: Sufiyan - 66192881/Yoonus - 77813190

ARMSTRONGWindow/Split/Package/Central Units. Sales, Services, Spare Parts/Window/Split & Central A/C. Annual Contracts. Mobile: 555 54 274 (Kumar)E-mail: service@armstrongmachinery.com www.armstrongmachinery.com

A/C MAINTENANCE & SERVICES

ALWASEEM TRANSLATION & SERVICES CENTERAuthorized Translators - Company Formation and PRO Services (Opp-Karwa Bus Stat. Doha, Al-Saeed Buil.2nd Floor.) M : 50822292 / 31586616 T : 44116727 E-mail : info.alwaseemtranslation@gmail.com Web : www.alwaseemtranslation.com

BUSINESS SET-UP

HELPLINE GROUPCertificate attestation from INDIA| UK | USA | CANADA | PHILIPPINE and Gulf Countries20 Years of experience and ISO Registered CompanyHELPLINE GROUP, C Ring Road Tel:(+974)-44271100Mob: 31550149 Email: info@Qatarhelplinegroup.com

HELPLINE GROUPCompany Registration, Local Sponsorship, Trademark, Feasibility Study, Tax systems and PRO Services. Our branches QATAR| KUWAIT | UAE | INDIA | UK | CANADA. (formed more than 3000 companies)HELPLINE GROUP, C Ring Road Tel: (+974)-44271100MOB: 77711129 Email: cf@qatarhelplinegroup.com

AL HAYIKI TRANSLATION & SERVICES EST.Authorized Translation & Certificate Attestation since 1992Sofitel Complex (Mercure Hotel) Ground Floor, Office No. 25Mob: 33411150 & 33411153, Tel: 44367755 & 44181990E-mail: hayiki4u@gmail.com Web: www.alhayikitranslation.com

QUEENS LAND SERVICESBusiness Set-up and Sponsorship. Debt Collection. Real Estate Services Mob: 77776917 E-mail: info@qlsqatar.com

INVEST IN QATAR

IMMIGRATION SERVICES

HELPLINE GROUPComplete Manpower SolutionsBusiness Structure and Business PlanningTel: (+974)-44271100 Mob: 77711129 Web: helplinehrconsulting.com

HR CONSULTATION

AL SALEH GROUP(HR)Tel: 44423838Send CV to Email: alsalehmanpower444@gmail.com

ARMSTRONGRepairs/Spare Parts & Rentals. Power from 5KVA to 2000KVA Sales/Services/ Spare Parts & Rentals. Annual Contracts.Mobile: 555 54 274 (Kumar) E-mail: secretary@armstrongmachinery.com www.armstrongmachinery.com

GENERATORS SERVICING

CLEANING AND MAINTENANCE

AL MUTWASSIT CLEANING & PEST CONTROLComplete General Cleaning For Residential & Commercial. Supply of Cleaning Staff on Contract Basis. Pest Control Services. Office: 44367555 Mob: 30029977/55875920 E-mail: info@amcqatar.co

AL SALEH CLEANING & HOSPITALITYComplete General Cleaning Services for Old & New Villas.Tel: 44423838 GSM: 55508393 - 55526943 - 50190005

CAPITAL CLEANING COMPANY W.L.L.Complete General Cleaning Services for Old and New VillasTel: 44582257 Mobile: 33189899/ 55565328E-mail: capitalcleaningwll@gmail.com

WOKEER INDUSTRIAL AREAFrom 150 - 200 LaborsMobile: 660 02 704 (Steve)E-mail: portacabins@iescoqatar.com

LABOUR CAMP FOR RENT

ARMSTRONG1000-4000 Gallon Tankers - Daily/Monthly/Yearly Contracts. Mobile: 660 41 449 (Neil)E-mail: portacabins6@iescoqatar.comwww.iescoqatar.com.

SEWAGE & WASTE REMOVAL

SCAFFOLDING

APOLLO ENTERPRISES SCAFFOLDING DIVISIONContract/Hire/Sale - Salwa Road. Tel: 44693334 Fax: 44416274 GSM: 55521089/55560246/55536285 www.apollo-qatar.net - E-mail: apolloscaff@qatar.net.qa

REAL ESTATE

AL MUFTAH SERVICESTel: 44634444/44010700 Mob: 55542067/55823100 E Mail: reservations@rentacardoha.com Website: www.rentacardoha.com

TRANSLATION

HELPLINE GROUPAuthorized Translation Centre.We speak more than 100 Languages. C Ring Road, Near by Toyota Signal Tel: (974)-44271100 Mob: 70114857 Email: info@helplinetranslation.com

PARTY KINGDOMNear Jaidah Flyover, Nasrallah Centre. Tel: 44353501/ 44366431

E-mail: partykingdom10doha@yahoo.com

PARTY ITEMS & BALLOON DECORATION

ARMSTRONGPorta Cabins/Pre-Fabricated Buildings/Toilets/Security Cabins. Fire Rated/Non Fire Rated. Mobile: 557 80 396 (Steve)E-mail: portacabins2@iescoqatar.com www.iescoqatar.com.

PORTA CABINS (Sales & Rentals)

ARMSTRONGFive Peals-USA Sales/Rental Service/Cleaning, Sewage Removal. Daily/Monthly/Yearly. Mobile: 557 80 396 (Steve)E-mail: portacabins2@iescoqatar.com www.iescoqatar.com.

PORTABLE & CHEMICAL TOILETS (Sales & Rentals)

MEDIA SERVICES

RENT A CAR

AL MUFTAH RENT A CARMain Office: D’ Ring Rd, T: 44634444/44010700 Branches: Airport: 44634433 Al Khor: 44113344 E Mail: reservations@rentacardoha.com Website: www.rentacardoha.com

OASIS RENT A CARYOU RENT MORE THAN A CAR WITH OASISAllen: 6641 7354 Tel: 4413 0011 - OasisCars.com Rental@OasisCars.Com - - Great deals on long term rentals

REGENCY FLEETS (A Regency Group Co.)Special Corporate leasing and Rental rates. Price includes Comprehensive Insurance, Maintenance, Replacement Vehicle etc. Driven by Values. E-mail: info@regencyfleets.com Tel: 44433822/44554046/44554048 Fax: 44554047 Airport Branch (24hrs): Tel.: 70482655

NATIONAL - ALAMO RENT A CARCars - 4WDs - Pickups - Buses - Chauffeur Drive Call: 5547 8150, 5040 0624 Web: www.national-qatar.comE-mail: info@national-qatar.com

BUDGET RENT A CARCompetitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section,Free Road Side Assistance, Easy & Fast Booking ProcessHead Office: Barwa Village T: 44325500 M: 66971703 Toll Free: 800-4627Email: info@budgetqatar.com Website: www.budgetqatar.com

AL SALEH REAL ESTATETel: 44423838. Mob: 33721133 E-mail: abnaasalehgroup@gmail.com

HOME CARE

ARMSTRONGAblution & Event Toilets Rental, Porta Cabins, Chemical Toilets & Other Equipment Rental.Mobile : 557 80 396 (Steve) E-mail: portacabins2@iescoqatar.comwww.iescoqatar.com

EVENT RENTALS/ ABLUTIONTOILETS

MASSAGE

KOTTAKKAL AYURVEDIC MASSAGE CENTREAyurvedic Massage, Philippine & Thai Massage. Near Badriya Signal, Bin Mehmood. Tel.: 44360061 GSM: 33453697

MEDIHERB MASSAGEKerala Ayurvedic, Thai, Philippine Massage (Gents & Ladies) for back pain, body pain, arthritis etc shirodhara, steam, Moroccan Bathe, Body Scrub etc. E-Ring Road,

Near ICC Signal, Nuaija. Tel: 66167700 - 50736611

AUTHENTIC THAI MASSAGE CENTERSFB: Royal Thai Men Spa, New Slata (Men Only)www.thaimassagedoha.com, Tel: 44666145FB: Royal Thai Lady Spa, Al Waab (Ladies Only)www.royalthailadyspa.com, Tel: 44142400

WATER TANK CLEANING

AL MUTWASSIT CLEANING & PEST CONTROLKharaba st, Behind white Mosque. Fax: 443679 99 - GSM. 55875920/55860432

CAPITAL CLEANING COMPANYCleaning Water Tanks & Pest Control. GSM: 55565328/ 33189899 Tel: 44582257 E-mail: capitalcleaningwll@gmail.com

WOKEER INDUSTRIAL AREAAvailable Sizes: 358/415/510/830/1340 Sqm.Mobile: 660 02 704 (Steve)E-mail: portacabins@iescoqatar.com

WAREHOUSE FOR RENT

ARMSTRONGNew & Used Containers - Sales/Rental (Certified & Uncertified) Mobile: 557 80 396 (Steve)E-mail: portacabins2@iescoqatar.com www.iescoqatar.com.

USED CONTAINERS (Sales & Rentals)

02 SUNDAY 21 JUNE 2020BUSINESS

Energy prices pulled back sharply on renewed virus fearTHE PENINSULA - DOHA

Oil prices rose on Friday, but pulled back sharply from early highs on concerns that con-tinued spread of the novel coro-navirus could stall the United States’ economic rebound. Crude benchmarks followed other assets lower, pulling back from session highs after Boston Federal Reserve President Eric Rosengren said more fiscal and monetary support for the U.S. economy will likely be needed, according to a Weekly Energy Market Review by Al Attiyah Foundation.

Rosengren repeated his view that the US unemployment rate will likely be “at double-digit levels” at the end of 2020 and cautioned against reo-pening the economy too quickly

after the end of lockdowns aimed at containing the virus. Heightening fears, Apple announced that it would re-close certain stores as the virus spread further.

The highs early in Friday’s session came after Iraq and Kazakhstan, during a meeting of an Opec+ panel on Thursday, pledged to comply better with oil cuts. This means curbs by the Organization of the Petroleum Exporting Countries and allies, known as Opec+, could deepen in July. No deci-sions were made on August cut levels, delegates said, with the market outlook still uncertain.

In a further sign of market recovery, Brent on Thursday moved into backwardation, where oil for immediate delivery costs more than supply

later, for the first time since March. A premium for oil for immediate delivery usually indicates tightening supply and encourages storage to be drawn down. Brent crude settled up 68 cents a barrel at $42.19 on Friday, while US crude settled at $39.75, up 91 cents. US crude

rose over 8 percent last week, while Brent is up 9 percent.

Asian spot LNG prices were little changed this week, as a demand recovery from some buyers in the region was not enough to absorb global over-supply. The average LNG price for August delivery into

northeast Asia was estimated at between $2.15-$2.30 per million British thermal units (mmBtu), compared to the July delivery assessment of $2.10 per mmBtu.

Asian spot demand is expected to be driven up by hot weather in the third quarter this year, fuel switching in some of the markets and lockdown easing, consultancy Energy Aspects said in a report this week. But the glimmers of hope for Asian demand for spot cargoes are more than offset by the need for these firms to ramp-up their imports under long-term contracts and con-tinued demand weakness.

Several Chinese buyers were looking for cargoes this week, however, some market sources said they were

concerned about whether the new outbreak of the corona-virus in Beijing would reduce spot buying, but added it had no impact on prices yet. Unsea-sonably warm weather is expected in the far east in the third quarter, which should increase LNG demand for cooling.

UK gas prices rose last week amid higher oil prices even though the system is still over-supplied. Further curbed con-sumption is expected for the reminder of June due to warm weather.

In the US, natural gas fell to a three-week low on weak cooling demand and declining LNG exports. Henry Hub prices were estimated at $1.67 per mmBtu, 30 percent down from this time last year.

Samsung denies reports of move of China display output to VietnamREUTERS - HANOI

Samsung Electronics is planning to shift much of its display pro-duction from China to Ho Chi Minh City this year, Vietnamese state media reported on Friday, although the South Korean tech giant said those reports were untrue.

The newspaper Tuoi Tre reported the relocation of Sam-sung’s display production from China citing an announcement on the website of Samsung Vietnam, but the parent company in Seoul said the reports were “groundless”.

Samsung did not elaborate. Several other Vietnamese online media outlets had reported the shift from China but by Friday evening those stories could no longer be viewed.

Samsung is the single largest foreign investor in Vietnam, with investments totalling $17bn.

South Africa’s poultry tariffs give EU unfair benefit, says US

BLOOMBERG South Africa’s recent poultry-tariff increases give European exporters an unfair advantage over their American competitors even though the country benefits from duty-free access to the world’s biggest economy, according to US Trade Representative Robert Lighthizer (pictured).“That strikes me as completely crazy,” he said in a House Ways and Means Committee hearing on trade policy on Wednesday.The continent’s most-industri-alized economy has duty-free access to the US market under the so-called Generalized System of Preferences, America’s oldest and largest trade-preference

programme for the world’s poorest economies. The African nation raised duties on frozen bone-in chicken pieces to 62 percent from 37 percent for imports from all countries excluding those in the European Union, with which it has a free-trade agreement, and the Southern African Development Community. South Africa also increased tariffs on frozen boneless-chicken cuts to 42 percent from 12 percent.

End of Venezuela’s oil fortune looms over Maduro’s regimeBLOOMBERG

Oil revenue, the financial lifeline of Venezuela, is quickly drying up, adding to the growing insta-bility of Nicolas Maduro’s embattled regime.

Crude exports that once accounted for 95 percent of foreign currency inflow to the country tumbled by almost half this month, after hitting a 73-year low in May. The plunge comes as US sanctions continue to target Venezuela, home of the world’s largest oil reserves.

Maduro’s regime is already plagued by a humanitarian crisis aggravated by the global pan-demic that’s sapping domestic demand for fuels. There’s only one more oil tanker expected to load for the remaining 12 days of the month, documents show. Venezuela used to load two vessels per day two years ago

before financial sanctions were imposed.

Oil storage tanks in the country are nearly full, forcing operators to shut in production to levels not seen since the end of the Second World War. It’s next to impossible to sell crude to foreign buyers with most oil vessels booked to export crude forced to cancel due to the Trump administration’s sanctions.

“Without oil money life gets

a lot harder for Maduro,” said Diego Moya-Ocampos (pictured), a political-risk consultant at IHS Markit in London. “He will have to rely more on gold mining and illegal activities such as drug traf-ficking to pay for his security apparatus.”

Shipments of oil, used to barter for fuels and food, slumped to 167,222 barrels a day this month through Thursday, down 45 percent compared to the same period in May, data from loading programs and ship-tracking compiled by Bloomberg show.

After the US levied sanctions on Mexican firm Libre Abordo SA de CV and its affiliate Schlager Business Group, Venezuela began relying on shipments to its ally Cuba and to Italian refiner Eni SpA and Repsol SA from Spain. Both Eni and Repsol have said in the past they are collecting oil as payment to settle old debts.

QIB retains its position as ‘Best Islamic Bank’ in Mideast and QatarTHE PENINSULA - DOHA

Qatar Islamic Bank (QIB) con-tinues to demonstrate its com-mitment to service excellence and growth by retaining its leading position in the region and winning prestigious awards from The Banker Magazine – the world’s longest running international banking title and the leading monthly title of the Financial Times Group. The Banker has named QIB the Best Islamic Bank in the Middle East, for a second year in a row, and The Best Islamic Bank in Qatar, for the eighth consecutive year, based on the Bank’s outstanding performance during the fiscal year 2019.QIB’s Group CEO, Bassel Gamal, said: “We are pleased to see that our Bank’s commitment and

dedication to all its stakeholders are recognized by such an established organization. These awards display our leading position in the region and truly motivate us to keep improving and striving for more. The positive financial results of the last few years are a testament to our strong performance in local, regional, and global markets, despite the challenging economic and regional situation. Achieving such awards and success would not be possible without the hard work of all our employees and our customers’ loyalty. I would like to take this opportunity, on behalf of the Board of Directors and the exec-utive management, to thank each one of them for their con-tinuous dedication and loyalty.”Registering increasing growth

rates for the seventh consecutive year, QIB delivered a record per-formance in 2019, continued to make strong progress on its digital transformation program and grew across all its business segments. QIB also increased its customer satisfaction scores and has further invested in its people and improved internal processes and efficiency across the entire group.For the year 2019, QIB achieved a net profit of QR3,055.4m, rep-resenting a growth of 10.9 percent for the same period in 2018. Financing activities have reached QR113.8bn and have grown by 11.3 percent compared to December 2018. Customer Deposits of the Bank stood at QR111.6bn registering a strong growth by 11 percent compared to December 2018.

The Bank’s strategy is closely tied with Qatar’s National Vision 2030 and the Government’s commitment to investments in the country’s infrastructure, the diversification of the economy and the development of a strong private sector. Over the past few years, QIB’s leadership has been working on a business strategy to build a long-lasting competitive advantage by introducing new products and services, boosting service performance, devel-oping the Bank’s risk man-agement framework, and migrating to new technology platforms that allow the Bank to better serve its customers. The successful implementation of this strategy has contributed to the Bank’s leading position in Qatar and the region.

Vietnam remains an ‘Ascending Dragon’ despite COVID-19 pandemic: QNB reportVietnam is famously known as the land of the “Ascending Dragon” for its geographical shape. Its economy has seen broad-based growth and low inflation over the past few years, largely thanks to gov-ernment reform efforts, fiscal restraint, and measures to strengthen the banking sector. Rising global trade tensions and volatility in emerging economies were felt in Vietnam during 2019. Never-theless, Vietnam’s economy is resilient.

Early and efficient border closures and rigorous contact tracing have allowed Vietnam to weather the COVID-19 pan-demic better than other coun-tries in Southeast Asia. Despite that, GDP growth has decel-erated sharply in the first half of 2020 due to the impact of COVID-19 containment measures on both domestic and external demand.

QNB expect Vietnam’s economy to rebound sooner and faster than most other countries for two main reasons (See Chart).

First, Vietnam has already significantly relaxed its lockdown. Preventing wide-spread transmission of the virus allowed Vietnam to begin easing the lockdown in April. Businesses and schools have reopened and local transpor-tation has resumed, including

domestic flights. Mobility data from both

Apple and Google indicate that Vietnam is one of the few places in the world where activity has already recovered to more normal levels. However, people are expected to continue to practice social distancing for quite some time.

Second, the strengthening of supply-chains should benefit Vietnam. COVID-19 has demonstrated the vulnerability of just-in-time delivery and overly concentrated supply-chains. Vietnam’s history of market-friendly reforms and a growing number of

free-trade agreements have led outperformance at attracting FDI. Indeed, Vietnam is an obvious choice for companies considering where to locate, or relocate factories. We therefore expect Vietnam’s economy to bounce back faster than most other countries in Southeast Asia.

Many large multinationals either already have operations in Vietnam, or are planning to invest in them. The most obvious example is Samsung, which is the single largest foreign investor in Vietnam, with reported investments of $17bn.

Most recently Samsung has already started construction of a $220m research and devel-opment centre in Vietnam. Beyond that, press reports indicate that the likes of Google, Dell, Amazon, Apple and Nintendo are all currently making, or actively consid-ering, investments.

Vietnam’s other major manufacturing success is in the clothing, footwear and apparel sector. For example, Japan’s

YKK Corporation, the world’s largest zipper manufacturer, started operations at its second plant in late 2019 having invested $60m in the facility in Ha Nam province. YKK are joining major global brands, including Nike, Adidas, Uniqlo and H&M, that are already established in Vietnam.

QNB expects the slowdown in the first half of the year and a strong second half to result in GDP growth of around 2.1 percent for 2020 as a whole. While this would be Vietnam’s lowest growth in decades, it is still expected to be much higher than most other countries.

QNB ECONOMIC COMMENTARY

(% y-o-y)Quarterly GDP Growth