GSMA M360 MENA opens in Doha with AI and digital partnerships at the forefront
Three regional partners have joined the GSMA Open Gateway initiative, while the GSMA’s latest Mobile Economy MENA report highlights significant genAI adoption across the region 18 November 2024, Doha: Under the esteemed patronage of His Excellency Mr. Mohammed bin Ali Al Mannai, Qatar’s Minister of Communications and Information Technology, M360 MENA opened its doors in Doha today with Host Sponsor Ooredoo Qatar, in partnership with the GSMA and the Ministry of Communications and Information Technology of Qatar (MCIT), and Media City Qatar. As mobile services are projected to contribute $360 billion to the region’s GDP, the event brings together leaders from the industry, technology, telecoms, and government sectors to foster the advancement of the MENA digital economy. The Opening Ceremony was led by Qatar’s Minister of Communications and Information Technology, H.E. Mr. Mohammed bin Ali Al Mannai, alongside Ooredoo Group CEO Aziz Aluthman Fakhroo; Ooredoo Qatar’s CEO, Sheikh Ali Bin Jabor Bin Mohammad Al Thani; and GSMA’s Head of MENA, Jawad Abbassi, with attendance from high-level dignitaries, ministers, government officials, and esteemed delegates from across the region. Following the Opening Ceremony, a delegation of senior executives from Ooredoo and GSMA, embarked on an exhibition tour. The tour featured visits to key exhibits, including the Ooredoo booth, Media City Qatar, Invest Qatar, SAP, and Google, where they explored innovative solutions aimed at accelerating digital transformation. Key topics on this year’s M360 MENA agenda include the 5G monetisation, the importance of building AI-ready networks, the smart projects unlocked by digital innovations, and the digital partnerships key to advancing the region’s digital economy. During his opening remarks, The State of Qatar’s Minister of Communications and Information Technology, His Excellency Mr. Mohammed bin Ali Al Mannai, said: “Guided by the Qatar National Vision 2030, our country is committed to creating a knowledge-based economy, with technology and digital transformation positioned at the core of our sustainable development aspirations. M360 MENA in Doha stands as a testament to The State of Qatar’s enduring commitment to fostering digital innovation and collaboration across the MENA region. We truly believe that by embracing advanced technologies like AI and 5G, and by building strategic digital partnerships, we can drive sustainable growth and enhance the quality of life for all citizens. This event is a valuable platform to discuss and strategize the digital future of MENA to support its advancement.” Sheikh Ali Bin Jabor Al Thani, Chief Executive Officer at Ooredoo Qatar, commented: “Hosting M360 MENA in Doha reflects Ooredoo Qatar’s commitment to advancing digital transformation across the region. We are proud to be at the forefront, leading initiatives in AI and 5G that have a direct impact on enhancing connectivity and quality of life for the people of Qatar. By collaborating with the GSMA and our regional partners, we are dedicated to creating a robust digital ecosystem that supports our nation’s vision of becoming a leader in technology and innovation. Together, we are laying the foundations for a future where digital connectivity empowers communities and strengthens our economy.” Taking to the stage for keynote 1, the GSMA’s Director General, Mats Granryd, said: “It’s fantastic to be hosting M360 MENA in Doha for the first time, and we look forward to exploring the powerful potential of AI, digital partnerships, and mobile connectivity for MENA. With mobile services projected to contribute $360 billion to the region’s GDP by 2030, M360 MENA stands as a powerful platform for collaboration and the innovation that will advance the region’s digital transformation.” Ooredoo and Batelco are the latest partners to join the GSMA Open Gateway initiative in the Middle East region. These latest additions mean 67 mobile operator groups, representing 279 networks and three-quarters of global mobile connections, have now signed up to the initiative, alongside many of the world’s leading technology companies. Early Open Gateway implementations in MENA have focussed on fraud prevention and security, supporting the region’s drive towards digital collaboration. Launched at MWC Barcelona 2023, the GSMA Open Gateway is a framework of network APIs that provides developers with universal access to operator networks, designed to speed up the creation of new digital products and services. Mobile Economy MENA 2024 report The GSMA launched its Mobile Economy MENA 2024 report, which forecasts that 5G will account for half of all mobile connections in MENA by 2030. The report finds that genAI adoption is gaining significant momentum across MENA, with operators leveraging AI to enhance customer service, optimise network performance, and drive new business opportunities. Other findings include: This year’s M360 MENA also introduced the GSMA Foundry AI Use Case Library, featuring over 60 real-world AI use cases from across the globe, including Huawei, ZTE, Ericsson, Nokia, and IBM. The library showcases how AI is powering mobile technology in areas from customer service to network planning, with the GSMA aiming to rapidly expand the library with use cases across the mobile ecosystem. Presented by the GSMA, M360 is a series of global events that unify the regional mobile ecosystem. The events aim to discover, develop and deliver innovation that serves as the foundation for positive business environments and societal change. The calendar of GSMA events returns next year, beginning with MWC Barcelona which returns to the Fira Gran Via between 3-6 March 2025. Find out more about the GSMA here.
Qatar Travel Mart 2024 announces strategic partners and sponsors ahead of the largest tourism event in Qatar
Held under the patronage of Sheikh Mohammed Bin Abdulrahman bin Jassim Al Thani, the Prime Minister and Minister of Foreign Affairs of Qatar Doha, Qatar – November 18th, 2024: The highly anticipated Qatar Travel Mart (QTM) 2024 is set to officially launch later this month, with the event organizers announcing the strategic partners and sponsors who will play a key role in making this year’s edition the largest and most impactful to date. The event will take place from November 25-27, 2024 at the Doha Exhibition and Convention Center (DECC), and promises to be a landmark exhibition for the travel and tourism industry, both regionally and globally. The highly anticipated third edition of QTM is organized by NeXTfairs for Exhibitions and Conference, with the support of the Prime Minister, Ministry of Foreign Affairs of Qatar, and the Ministry of Commerce and Industry (MoCI). Visit Qatar has been confirmed as the ‘Strategic Partner’, ‘Katara Hospitality’ as the ‘Founding Partner’, and Visit Morocco as the ‘Title Sponsor’ of QTM 2024, reinforcing their commitment to supporting Qatar’s growing tourism sector. Their involvement highlights the importance of collaboration in driving forward Qatar’s ambitious tourism vision for 2030. “Katara Hospitality is honored to return as the founding partner of QTM for the third consecutive year, a partnership that underscores our unwavering commitment to shaping the future of luxury hospitality in Qatar and beyond. This event provides an invaluable platform to showcase our vision of excellence, innovation, and cultural heritage, while strengthening Qatar’s position as a premier global destination. We extend our heartfelt thanks to Nextfairs, Visit Qatar, and all key stakeholders for their exceptional collaboration and shared dedication to the growth and success of Qatar’s tourism industry. Together, we are building a legacy that will inspire future generations and elevate Qatar’s role on the world stage,” by Katara Hospitality. Mr. Rachid Hamzaoui, MNTO Middle East and India Director said, “Morocco is proud to be the title sponsor of QTM 2024, an opportunity to further strengthen the ties between Morocco and Qatar, particularly with the celebration of the Qatar-Morocco Years of Culture 2024, which highlights the shared cultural values and historical bonds between our two nations. The partnership with QTM, part of our “light in Action” strategy, underscores our unwavering commitment to promoting Morocco’s rich heritage and diverse tourism offerings, while fostering deeper cultural connections. We look forward to sharing our unique experiences and exploring new opportunities for collaboration with industry leaders at this prestigious event.” Furthermore, QTM 2024’s industrysupport is further recognized with global partners; the World Leisure Organization (WLO) as ‘Conference Partner’, World Tourism Association for Culture and Heritage (WTACH) as ‘Association Partner,’ as well as AMFORHT, who are the World Association for Hospitality & Tourism Education & Training, as ‘Association Partner.’ This year’s QTM will feature an expanded exhibition space of 15,000 square meters, allowing for more exhibitors and networking opportunities than ever before. With over 60 participating countries, 300 exhibitors, and an expected attendance of 12,000 visitors, QTM 2024 is set to surpass previous editions in terms of scale and impact. The exhibition will showcase seven dedicated sectors: Business, Leisure, Luxury, Medical, Cultural, Sports, and Halal Tourism. A main highlight of QTM 2024 will be the comprehensive conference component, featuring three distinct themes across three days: These themes align with Qatar’s National Vision 2030 by promoting sustainable development and positioning the country as a premier global destination for both leisure and business travel. As the fastest-growing tourism destination in the Middle East, the country’s efforts to drive forward the tourism goal to welcome more than 6 million visitors a year by 2030 have resulted in strides being made, as according to the latest World Tourism Barometer by UN Tourism, Qatar is one of the strongest performers in January – July 2024 (147% versus 2019)[1]. There will also be the Global Village, where attendees can immerse themselves incultural showcases from around the world while experiencing Qatar’s vibrant heritage firsthand. Rawad Sleem, Co-founder and General Manager of NeXTfairs said: “The announcement of our strategic partners and sponsors for QTM 2024 marks a significant milestone as we prepare for the largest edition of the event to date. Their invaluable contributions not only underscore the importance of collaboration in driving the future of Qatar’s tourism sector but also reflect our shared commitment to elevating Qatar’s position as a premier global destination. At NeXTfairs, we are excited to showcase the expanded scope of QTM 2024, which will provide unparalleled opportunities for networking, knowledge sharing, and business growth. We look forward to welcoming industry leaders from around the world to experience firsthand how Qatar is shaping the future of travel and tourism, as well as the invaluable support of the H.E. Sheikh Mohammed Bin Abdulrahman bin Jassim Al Thani, the Prime Minister and Minister of Foreign Affairs of Qatar, and the Ministry of Commerce and Industry (MoCI).” QTM 2024 will offer unparalleled opportunities for business networking through its Hosted Buyers Program, bringing together hosted buyers from around the world. In addition, B2B matchmaking sessions will enable exhibitors to engage directly with key decision-makers in the travel industry. With its focus on fostering partnerships, sharing knowledge, and exploring emerging trends such as sustainable tourism and experiential travel, QTM 2024 is poised to be a transformative event for all participants. For more information and registration details, please visit QTM’s website https://www.qtmqatar.com/. Alternatively, follow the event via X, Instagram, Facebook, LinkedIn or YouTube.
Al Mana Holding W.L.L, Signs exclusive Qatar dealership agreement with Geely Holding Riddara
Doha, Qatar — November 18th, 2024 — Al Mana Holding W.L.L., Qatar’s leading business enterprise, has signed an initial order agreement with Geely Holding’s electric pickup truck brand, Riddara, marking a significant entry into the Qatari market. The agreement represents a major milestone in the growth of electric vehicles (EVs) in the region, aligning with Al Mana Holding’s dedication to diversifying its automotive portfolio and supporting Qatar’s sustainable development goals. As part of the agreement, Al Mana Holding will serve as the exclusive dealer for Riddara’s electric pickup trucks in Qatar. Al Mana Holding’s industry-leading reputation and vast experience will play a crucial role for establishing a robust market presence for Riddara’s products in the country. Riddara’s electric pickup trucks are designed with advanced electric drive technology, intelligent vehicle systems, and a focus on efficiency and comfort, tailored to meet the demands of Qatari consumers. Mr. Steve Qingyang, the General Manager of Riddara International Business stated, “Partnering with Al Mana Holding marks a significant milestone for Riddara as we bring our intelligent and eco-friendly automotive solutions to Qatar. Our commitment to innovation and sustainability aligns perfectly with the needs of this dynamic market. We’re excited to introduce our range of electric vehicles, featuring advanced AI-driven systems and sustainable manufacturing processes. This collaboration will not only expand our global footprint but also contribute to Qatar’s transition towards cleaner transportation.” Mr. Xia Mo, the Regional Director of Riddara Middle East commented,” At Riddara, we are excited to sign this agreement to introduce our upcoming vehicle offerings. This partnership allows us to provide customized solutions that cater to the unique preferences of Qatar based consumers. Al Mana Holdings’ local insights will enable us to rapidly adapt to market demands and offer tailored mobility solutions. We are confident that our intelligent, eco-friendly vehicles will resonate with Qatar’s environmentally conscious and tech-savvy consumers.” This alliance is part of Al Mana Holding’s broader strategy to expand its electric vehicle offerings and aligns with its recent partnerships with other notable EV manufacturers, including VinFast and ZEEKR. These collaborations underscore the company’s commitment to leading the transformation towards electric mobility in Qatar and reinforcing its role as a key player in the region’s automotive industry. Mr. Hisham Saleh Al Mana, Chairman of Al Mana Holding, said,” We are thrilled to join forces with Riddara, a dedicated electric pickup truck manufacturer. This deal enables us to offer our customers in Qatar access to state-of-the-art automotive technology to our customers. Riddara’s commitment to innovation, particularly in AI-driven systems and electric powertrains, perfectly complements our vision to lead the automotive market into a greener future. We’re particularly excited about introducing Riddara’s unique customization options, allowing our customers to personalize their vehicles to an unprecedented degree.” The Riddara-Al Mana partnership also supports Qatar’s National Vision 2030, which emphasizes sustainability, environmental stewardship, and the reduction of carbon emissions. By introducing Riddara’s electric vehicles to the Qatari market, Al Mana Holding is actively contributing to the nation’s goal of promoting cleaner, more sustainable transportation solutions. Mr. Christopher Preston, Executive Director of Al Mana Holding, said,“Collaborating with Riddara allows us to expand our portfolio with innovative vehicles that meet the highest international standards for quality and sustainability. We look forward to bringing these exceptional products to our discerning clientele in Qatar. Riddara’s focus on intelligent manufacturing and their use of recycled and bio-based materials align with our commitment to reducing environmental impact. This partnership not only enhances our product lineup but also strengthens our position as a forward-thinking dealership committed to shaping the future of mobility in Qatar.” To ensure a seamless ownership experience for Qatari customers, Al Mana Holding will capitalize on its existing network of service centers, offering expert maintenance, repairs, and access to an expanding EV charging infrastructure. This commitment to customer satisfaction is key to establishing Riddara’s strong foothold in Qatar. The introduction of Riddara’s electric pickup trucks through this partnership marks a significant step in diversifying Qatar’s automotive market and offering more sustainable, future-oriented transportation choices. Furthermore, it positions Al Mana Holding at the cutting edge of the electric vehicle transition, solidifying its leadership role in Qatar’s automotive landscape.
Sidra Medicine Launches Masterclasses Ahead of Precision Medicine and Future of Genomics 2024 Summit
17 November 2024, Doha, Qatar – In anticipation of the upcoming Precision Medicine and the Future of Genomics 2024 Summit (PMFG 2024), Sidra Medicine, a Qatar Foundation entity, will host a series of specialized masterclasses from December 1-2, 2024 at its premises in Doha. These masterclasses are designed to provide healthcare professionals and researchers with practical skills and insights that align with core PMFG 2024 themes. Three masterclasses are open for registration: Participants will have the opportunity to learn directly from leading global experts, gaining hands-on knowledge in areas such as gene curation, genetic counseling, and the use of AI in Biomedical research. This prelude to the main PMFG 2024 Summit provides a unique platform for in-depth learning and networking among professionals invested in advancing precision medicine and genomics. Speakers and ParticipantsThe masterclasses will host several high-profile speakers and participants, including Dr. Marina DiStefano, (ClinGen Principal Investigator, Broad Institute/MIT, USA), Dr. Peter Owotoki, (Co-Founder and CEO of vitafluence.ai), and Dr. Ammira Al-Shabeeb Akil, (Principal Investigator and the lead of the Genetic and Metabolic Disorders Clinical Research Program at Sidra Medicine). Dr. Ammira Al-Shabeeb Akil, Principal Investigator, the organizer of the masterclasses and the lead of the Genetic and Metabolic Disorders Clinical Research Program at Sidra Medicine and Organizing Chair of PMFG 2024, said: “The masterclasses provide an immersive runup to PMFG 2024, focusing on actionable insights and hands-on sessions. Attendees will gain practical expertise that they can directly apply in their fields, as well as engage in collaborative discussions to advance precision medicine in the Middle East and beyond.” Connecting Practical Knowledge to Summit ThemesThese masterclasses deepen understanding of the themes spotlighted at PMFG 2024, running from December 3-5, 2024. Participants will explore genomics applications for personalized care, cutting-edge genetic therapies, and innovative diagnostic solutions which will create a cohesive learning experience in preparation for the Summit’s broader discussions on precision healthcare advancements. Register NowTo register for the PMFG 2024 masterclass, please visit: Precision Medicine and the Future of Genomics 2024 Summit – Master Classes – Online Single Registration. To register for the PMFG 2024 summit, please visit: Precision Medicine and the Future of Genomics 2024 Summit (PMFG 2024) – Online Single Registration.
Turkish stars Esra Bilgiç and Birkan Sokullu applaud 2024 Ajyal’s youth-centric focus
Doha, Qatar; November 17, 2024: Acclaimed Turkish actors Esra Bilgiç and Birkan Sokullu highlighted the 2024 Ajyal Film Festival’s distinctive focus on nurturing youth talent in cinema. “What makes Ajyal special is its commitment to nurturing young voices in film,” said Bilgiç. “As artists, we strive to be positive role models, and to contribute to building a world based on mutual respect and understanding. This festival’s emphasis on youth perspectives makes this particularly meaningful.” Sokullu, who is visiting the region for the first time, shared his perspective on representing Turkish culture internationally: “As actors, we serve as cultural ambassadors. By sharing our stories and traditions, we are representing our values and promoting stronger understanding . I feel a distinct connection to this at Ajyal, which brings together independent voices in cinema from around the world.” Both actors reflected on what they find most rewarding about their profession. “The ability to step into different lives, be empathetic and understand various perspectives is one the most fulfilling aspect of being an actor,” said Bilgiç. The actors said they are keen to explore the city’s cultural landscape. “We’re looking forward to visiting Doha’s museums and experiencing its rich cultural heritage,” said Sokullu. “The city’s blend of tradition and modernity is fascinating.” They said they feel very close to Arab films, and said they appreciate Arabic literature, poetry and culture. “The MENA region is one of our biggest viewing demographics. When we produce a cinematic work, we take into consideration the Arab viewers as well as international audiences, yet executing them in our unique creative way. Today, our works resonate with global audiences because human emotions are universal.” The actors also highlighted their new series, Doors of Destiny, produced by TOD Studios. The series, directed by Yunus Ozan Korkut, tells the story of a reclusive computer genius whose life transforms when he meets the enigmatic daughter of an influential Turkish figure. The series is exclusively available on TOD reaching audiences across the Middle East, North African countries, and Turkey. The 12th edition of Ajyal features 66 films from 42 countries, and includes several programs such as Voices from Palestine and the Intaj: From Ground Zero Experience exhibition. Ajyal 2024 continues through November 23 with screenings and events across various locations including Katara Cultural Village, Sikkat Wadi Msheireb, Lusail, and VOX Cinemas Doha Festival City. Tickets are available online at www.dohafilminstitute.com/filmfestival.
Msheireb Downtown Doha Welcomes More Than 1500 Attendees to Qatar’s Largest Outdoor Cybersecurity Event
Msheireb Properties’ first-ever outdoor cybersecurity conference, held in partnership with White Hat Desert (WHD), brought more than 1500 participants from across multiple sectors to Barahat Msheireb yesterday. The event featured 15 speakers, five specialized Cybersecurity Villages, and CTF “Capture the flag” competition to Barahat Msheireb, and representation from energy, banking, construction, healthcare, and broadcasting companies, setting a new benchmark for cybersecurity events in Qatar. “As a smart tech leader in Qatar, hosting this groundbreaking cybersecurity is part of our commitment to introducing technological innovation and digital safety among the community,” said Eng. Ahmed Al Korbi, Senior ICT Manager at Msheireb Properties, during his welcome remarks. “Through our sophisticated network of over 650,000 connected IoT devices and state-of-the-art Command and Control Centre, we understand firsthand the critical importance of cybersecurity in modern urban environments. This event demonstrates our dedication to sharing this knowledge with both industry professionals and general public in Qatar.” The morning industry session delivered comprehensive insights across four key themes: Emerging Threats, Artificial Intelligence, Risk Management, and Cyber Strategy. The event featured five distinct Cybersecurity Villages, each offering specialised experiences. The Digital Forensics & Incident Response village provided hands-on training with security experts, while the Application Security section offered a fundamental understanding of secure development practices. Participants engaged with offensive security methods in the Penetration Testing area and explored malware analysis in the Reverse Engineering section. The WHD Clinic served as a community hub for networking, while the Qatar Scientific Club showcased innovative demonstrations in robotics and electronics. The evening session transformed Barahat Msheireb into an interactive technology playground, featuring exciting competitions and demonstrations. Attendees witnessed Sumo Robot battles and high-speed drone racing competitions. Gaming enthusiasts participated in an intense Fortnite tournament while aspiring technologists engaged in circuit board-building workshops. Live hacking demonstrations captured the audience’s attention, providing real-world examples of cyber threats and defense mechanisms. “The diversity of activities and depth of expertise shared today reflects our commitment to making cybersecurity accessible to everyone,” added Eng. Al Korbi. “From the technical discussions about AI-driven attacks and ransomware in the morning sessions to the engaging family activities in the evening, we’ve succeeded in creating a comprehensive platform for cybersecurity awareness and education.” The event was supported by leading technology companies, with Malomatia, Microsoft, Google, TrendMicro and Zscaler among the key sponsors showcasing cutting-edge security solutions. The success of this inaugural outdoor cybersecurity event has already led to discussions about making it an annual fixture in Qatar’s technology calendar.
Invest Qatar Showcases Qatar’s dynamic investment and startup ecosystem at Web Summit Lisbon
Invest Qatar made a powerful impression at Web Summit Lisbon 2024, where it participated as a key partner. The organisation spearheaded a series of high-level business meetings and networking events, underscoring Qatar’s vibrant investment landscape and burgeoning startup ecosystem. A highlight of the summit was a panel discussion featuring Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, who delved into Qatar’s strategy for economic diversification during a session titled “MENA Money Moves: Qatar’s Growth Formula.” The insights offered a compelling look into the nation’s proactive approach to attracting global investment. Adding to its impactful presence, Invest Qatar hosted a masterclass that outlined the unparalleled opportunities for entrepreneurs to launch and scale their ventures within Qatar’s dynamic and supportive startup environment. Stay tuned for more updates as Qatar continues to position itself as a global hub for innovation and investment.
Qatar’s Economy Projected to Grow 2% in 2024, Driven by Tourism and Construction
Doha: Qatar’s economy is forecasted to grow by 2% in 2024, bolstered by stability in the hydrocarbon sector and robust growth in non-oil industries such as tourism and construction, according to Roberta Gatti, the World Bank’s Chief Economist for the Middle East and North Africa (MENA). Gatti attributed the growth to a strong start to the year in the tourism sector and the pivotal role of construction in driving non-oil economic activity. Qatar’s ongoing diversification initiatives, aligned with its third National Development Plan, are targeting sectors like tourism and IT to broaden the country’s economic base. Hydrocarbon Sector and LNG ExpansionWhile hydrocarbons remain a cornerstone of Qatar’s economy, Gatti highlighted the sector’s anticipated surge starting in 2026, when new liquefied natural gas (LNG) projects begin production. These developments are expected to significantly enhance Qatar’s long-term economic growth. Regional Growth OutlookFor the broader MENA region, the World Bank projects a moderate growth rate of 2.2% in 2024, up from 1.8% in 2023, with the Gulf Cooperation Council (GCC) countries leading the uptick. GCC economies are expected to see growth rise to 1.9% in 2024, driven by non-oil sector expansion, despite ongoing oil production cuts. Key Regional Highlights:Saudi Arabia: Non-oil private sector growth is projected at 4.4%, contributing to 51% of its economy in 2024.Developing Oil Importers: Growth is expected to slow to 2.1% in 2024, compared to 3.2% in 2023.Developing Oil Exporters: Growth is forecasted to decline from 3.2% in 2023 to 2.7% in 2024, with recovery expected in 2025.Challenges and Long-Term ProspectsGatti warned of challenges, including oil production limits, global economic uncertainties, and potential regional conflicts, which could dampen short-term growth. However, she forecasts an acceleration in MENA’s overall growth to 3.8% in 2025, driven by strengthened GCC economies, expected to grow at 4.2%. Qatar’s Diversified Growth PathQatar’s focus on developing its non-oil sectors, coupled with its strategic investments in LNG expansion, positions the country for sustained economic resilience and long-term growth. credit by SyndiGate Media Inc. (Syndigate.info).
QSE Index 14.1% Above May’s Lowest Level Despite Weekly Decline
Doha: The Qatar Stock Exchange (QSE) index ended the week with a 1.07% decline, losing 113.44 points to settle at 10,455 points, compared to last week’s close. The drop was primarily driven by the industrial sector, which saw the largest decline of 2.04%, followed by the services and consumer goods sector with a 1.09% decrease, and the real estate sector at 1.05%. Despite the weekly decline, financial markets analyst Youssef Bouhlaika highlighted that the QSE index is currently 14.1% higher than its lowest level on May 30, 2024, and 3.5% lower than its highest point in the past 52 weeks. Market Movements and Trading HighlightsBouhlaika noted that the QSE index is moving within a sideways range between 10,400 and 10,500 points, with a focus on maintaining support levels. Investors are closely watching the resistance range of 10,800 to 11,000 points as a potential breakout zone. In Thursday’s session, the general index rose 0.34%, gaining 35.04 points to close at 10,455 points, slightly recovering from Wednesday’s level. Key trading highlights from the session include: Ezdan Holding led trading volumes with 16.81 million shares traded.QNB stock topped liquidity activity with a total value of QR 49.8 million.Total trading values for the session increased to QR 389 million, up from QR 363 million on Wednesday.Trading volumes grew marginally to 134.59 million shares, compared to 133.34 million shares in the previous session.OutlookThe QSE index continues to navigate within a narrow range, seeking stability amid market pressures. Analysts suggest that breaching the resistance levels near 10,800-11,000 points could signal a bullish trend, while maintaining support at 10,400 points remains crucial for investor confidence.
Qatar Central Bank Issues Treasury Bills Worth QR 2.7 Billion
Doha: The Qatar Central Bank (QCB) has issued treasury bills valued at QR 2.7 billion, covering maturities ranging from 7 days to 350 days. The announcement was made via a post on the X platform on November 15, 2024. The distribution of the treasury bills is as follows: QR 500 million for 7 days (new issuance) at an interest rate of 4.9180%QR 500 million for 28 days (new issuance) at an interest rate of 4.8960%QR 500 million for 91 days (new issuance) at an interest rate of 4.8370%QR 500 million for 168 days (tap issuance) at an interest rate of 4.7830%QR 500 million for 273 days (new issuance) at an interest rate of 4.7340%QR 200 million for 350 days (tap issuance) at an interest rate of 4.7120% Robust Demand in AuctionThe QCB revealed that the total auction bids for the treasury bills reached QR 10.5 billion, indicating strong demand from investors for these government securities. Treasury bills are short-term financial instruments that play a key role in managing liquidity within the banking sector, supporting monetary policy objectives, and fostering a stable financial environment.
