6
BUSINESS Monday 12 November 2018 PAGE | 23 PAGE | 22 Over 240 Qatari firms to participate in ‘Made in Qatar’ expo in Muscat Angola and Total launch new $16bn offshore oil platform QNB and IAAF sign worldwide sponsorship agreement in Qatar THE PENINSULA DOHA: QNB, the largest financial institution in the Middle East and Africa, became the latest worldwide level Official IAAF Partner signing a four-year deal that will see the Bank support all World Athletic Series Events from January 1, 2019 to the end of 2022. The partnership, was recently signed in Qatar by IAAF President, Sebastian Coe, Acting Chief Exec- utive Officer at QNB Group, Abdulla Mubarak Al Khalifa, in presence of the Vice-President and Director General of the Local Organizing Committee and Vice- President of the IAAF, Dahlan Al Hamad. The sponsorship will include the next two IAAF World Cham- pionships — Doha 2019 and Eugene, Oregon in 2021 — as well as the IAAF World Relays in Yokohama, Japan and the IAAF World Cross Country Champi- onship in Aarhus next year and, in 2020: the IAAF World Indoor Championships in Nanjing, China; The IAAF Half Marathon in Gdynia, Poland; the IAAF World Race Walking Team Champion- ships in Minsk, Belarus and the World Athletics U20 Champion- ships in Nairobi, Kenya in 2020. Commenting on the signing, IAAF President, Coe said: “It is always exciting to be signing new partnerships and taking the sport of athletics to new organizations, their customers and stakeholders. This partnership, in particular, is rewarding as QNB is the largest financial institution in the Middle East and Africa with a global presence and a strong vision for growth across the region as well as a stated desire to promote and encourage the health and well- being of communities in which it operates.” He added:“New partners also bring new ideas and new thinking and we look forward to the con- tribution and involvement of QNB in our sport. We are already talking to them about their financial security expertise, their strong culture of customer service and their commitment to youth, edu- cation and sustainability. There are many aspects to their business that will help to enhance and promote athletics across the region and the world.” For his part, Al Khalifa, said: “As the Official IAAF Partner, QNB is pleased to establish such part- nership, which emphasizes the importance we dedicate to sports in general and the Athletic events in particular. We are keen to support the IAAF, being the home of world athletics, as we believe they share the same vision with QNB in the significant role it plays in improving the world of sports”. As part of their partnership, QNB will have exclusive branding on all female athlete bibs com- peting at the WCH Doha 2019. Tickets for the IAAF World Athletic Championship Doha 2019 go on sale later today at https:// iaafworldathleticschamps.com/ doha2019/tickets Abdulla Mubarak Al Khalifa (centre), Acting Chief Executive Officer at QNB Group; IAAF President, Sebastian Coe (leſt), and Vice-President and Director General of the Local Organizing Commiee and Vice-President of the IAAF, Dahlan Al Hamad, at the signing ceremony in Doha, yesterday. Argentine recession seen booming out in first quarter: IMF REUTERS BUENOS AIRES: Argentina’s shrinking economy will bottom out in the first three months of next year and start to recover in the second quarter, an Inter- national Monetary Fund official said. The fund last month upped the size of its standby financing deal with Argentina to $56.3bn after negotiating tougher fiscal measures that have already dented the popularity of Pres- ident Mauricio Macri ahead of his 2019 re-election bid. “The bottom of the recession, the floor, will be hit the first quarter of 2019, and in the second quarter we are going to see a recuperation,” IMF mission chief for Argentina Roberto Cardarelli told reporters at a press briefing in Buenos Aires. The revamped IMF agreement calls on the Macri government to deepen spending cuts and raise taxes to bring the primary fiscal deficit, projected at 2.7 percent of gross domestic product in 2018, to zero next year. Cutting the deficit during a presidential election year is almost unheard of in Argentina, where wide swaths of the pop- ulation have come to rely on welfare programs and subsidies that helped the country recover from a 2002 economic crisis . Commerce Minister opens Qatar Entrepreneurship Conference MOHAMMAD SHOEB THE PENINSULA DOHA: The Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, inaugu- rated yesterday the fourth edition of the Qatar Development Bank’s (QDB) ‘Qatar Entrepreneurship Conference’— ‘ROWOD Qatar 2018’— at Doha Exhibition and Convention Center. The official inauguration cer- emony of the coveted event was also graced by H E Sheikh Abdullah bin Saoud Al Thani, Governor of Qatar Central Bank (QCB), who is also the chairman of QDB. QDB, the state-backed agency, in keeping up with its strides to offer growth paradigms to new age entrepreneurs, is hosting the event under the theme “Turning Challenges into Oppor- tunities”, during the Global Entre- preneurship Week (GEW), from November 11 – 13, 2018. The three-day event, held under the patronage of the Prime Minister and Inerior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, witnessed activ- ities, workshops, success stories and keynote speeches. Held every November, the entrepreneurship conference inspires people everywhere through local, national and global activities designed to help them explore their potential as self- starters and innovators. “ROWAD Qatar 2018” is the world’s largest gathering of potential startups, collaborators, mentors and investors. It is now recognised as the ideal gateway or starting point of any start-up journey. This is also a platform for aspiring entre- preneurs to understand how to begin their startup journey from idea to business reality. During the GEW, all countries around the world celebrate entre- preneurship through different types of events and activities. It’s considered as a celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth and expand human welfare. Commenting on this occasion, Minister Al Kuwari, said: “Over the past years, Qatar has been able to demonstrate its ability to achieve economic diversification without relying entirely on the hydrocarbon capabilities by placing innovation, entrepre- neurship, and SMEs at the fore- front of its strategic priorities. The country has made con- tinuous efforts to introduce series of rules and regulations to facil- itate collaboration between the different institutions of the State on one hand, and the constructive partnership with the private sector on the other hand to enhance the contribution of entrepreneurs and youth to the economic development and encourage their own initiatives within an innovative and creative environment.” → CONTINUED ON PAGE 23 H E Ali bin Ahmed Al Kuwari (centre), Minister of Commerce and Industry; H E Sheikh Abdulla bin Saoud Al Thani (second right), Governor of Qatar Central Bank; Abdulaziz bin Nasser Al Khalifa (second leſt), CEO of QDB; and other senior officials during the opening of Qatar Entrepreneurship Conference 2018 at DECC yesterday. PIC: BAHER AMIN / THE PENINSULA Alibaba sets singles’ day record with $31bn in sales BLOOMBERG SYDNEY: Alibaba Group Holding Ltd. logged 213.5bn yuan ($30.7bn) in sales for its annual Singles’ Day extrava- ganza, setting a record as shoppers swarmed the e-commerce giant’s online bazaars. China’s largest company, which used a concurrent tele- vised entertainment spectacle featuring Cirque du Soleil and Mariah Carey to further drum up business, reported that Xiaomi Corp., Apple Inc. and Dyson Ltd. products were the top three brands in early sales. The annual retail cele- bration, originally dedicated to the nation’s unattached, has become an important bell- wether not just for the company, but also the country. This year’s November 11 gala offers a glimpse of consumer sentiment in China as US tensions and a tit-for-tat tariff war depress stock markets and threaten to dampen the world’s No. 2 economy. Alibaba surpassed the 100bn yuan mark less than two hours into Singles’ Day, according to Alibaba’s news website. “We can feel that merchants are fully embracing the internet and helping with consumption upgrade,” Daniel Zhang (pictured), Alibaba’s chief executive officer, told reporters in Shanghai. The challenge for billionaire Jack Ma and Zhang, his lieu- tenant, was to notch another record after a scorching decade- long run. With a cooling economy, saturated markets and competition from smaller platforms such as JD.com Inc. and Pinduoduo Inc., Alibaba is seeking new growth engines. “Alibaba is making use of all of its platforms to make Singles’ Day a holiday that also includes dining and entertainment,” Jet Jing, president of Tmall, one of the company’s main sites, said at the Singles’ Day event. “We’re connecting online shopping with offline physical outlets.” The chief executive, who takes over from a retiring Ma as chairman next year, must prove he can carry on that legacy. His Hangzhou-based company also uses the occasion to test the limits of its cloud computing, delivery and payments units.

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Page 1: BUSINESS - The Peninsula · 2018. 11. 12. · importance we dedicate to sports ... gathering of potential startups, collaborators, mentors and ... within an innovative and creative

BUSINESSMonday 12 November 2018

PAGE | 23PAGE | 22Over 240 Qatari firms to participate in ‘Made

in Qatar’ expo in Muscat

Angola and Total launch new $16bn offshore oil platform

QNB and IAAF sign worldwide sponsorship agreement in QatarTHE PENINSULA

DOHA: QNB, the largest financial institution in the Middle East and Africa, became the latest worldwide level Official IAAF Partner signing a four-year deal that will see the Bank support all World Athletic Series Events from January 1, 2019 to the end of 2022.

The partnership, was recently signed in Qatar by IAAF President, Sebastian Coe, Acting Chief Exec-utive Officer at QNB Group, Abdulla Mubarak Al Khalifa, in presence of the Vice-President and Director General of the Local Organizing Committee and Vice-President of the IAAF, Dahlan Al Hamad.

The sponsorship will include the next two IAAF World Cham-pionships — Doha 2019 and Eugene, Oregon in 2021 — as well as the IAAF World Relays in Yokohama, Japan and the IAAF World Cross Country Champi-onship in Aarhus next year and, in 2020: the IAAF World Indoor Championships in Nanjing, China; The IAAF Half Marathon in Gdynia, Poland; the IAAF World Race Walking Team Champion-ships in Minsk, Belarus and the World Athletics U20 Champion-ships in Nairobi, Kenya in 2020.

Commenting on the signing, IAAF President, Coe said: “It is always exciting to be signing new partnerships and taking the sport of athletics to new organizations, their customers and stakeholders.

This partnership, in particular, is rewarding as QNB is the largest financial institution in the Middle East and Africa with a global presence and a strong vision for growth across the region as well as a stated desire to promote and encourage the health and well-being of communities in which it operates.”

He added:“New partners also bring new ideas and new thinking and we look forward to the con-tribution and involvement of QNB in our sport.

We are already talking to them about their financial security expertise, their strong culture of customer service and their commitment to youth, edu-cation and sustainability. There are many aspects to their business that will help to enhance and

promote athletics across the region and the world.”

For his part, Al Khalifa, said: “As the Official IAAF Partner, QNB is pleased to establish such part-nership, which emphasizes the importance we dedicate to sports in general and the Athletic events in particular. We are keen to support the IAAF, being the home of world athletics, as we believe they share the same vision with QNB in the significant role it plays in improving the world of sports”.

As part of their partnership, QNB will have exclusive branding on all female athlete bibs com-peting at the WCH Doha 2019.

Tickets for the IAAF World Athletic Championship Doha 2019 go on sale later today at https://iaafworldathleticschamps.com/doha2019/tickets

Abdulla Mubarak Al Khalifa (centre), Acting Chief Executive Officer at QNB Group; IAAF President, Sebastian Coe (left), and Vice-President and Director General of the Local Organizing Committee and Vice-President of the IAAF, Dahlan Al Hamad, at the signing ceremony in Doha, yesterday.

Argentine recession seen bottoming out in first quarter: IMFREUTERS

BUENOS AIRES: Argentina’s shrinking economy will bottom out in the first three months of next year and start to recover in the second quarter, an Inter-national Monetary Fund official said.

The fund last month upped the size of its standby financing deal with Argentina to $56.3bn after negotiating tougher fiscal measures that have already dented the popularity of Pres-ident Mauricio Macri ahead of his 2019 re-election bid. “The bottom of the recession, the floor, will be hit the first quarter of 2019, and in the second quarter we are going to see a recuperation,” IMF mission chief for Argentina Roberto Cardarelli told reporters at a press briefing in Buenos Aires.

The revamped IMF agreement calls on the Macri government to deepen spending cuts and raise taxes to bring the primary fiscal deficit, projected at 2.7 percent of gross domestic product in 2018, to zero next year.

Cutting the deficit during a presidential election year is almost unheard of in Argentina, where wide swaths of the pop-ulation have come to rely on welfare programs and subsidies that helped the country recover from a 2002 economic crisis .

Commerce Minister opens Qatar Entrepreneurship ConferenceMOHAMMAD SHOEB THE PENINSULA

DOHA: The Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, inaugu-rated yesterday the fourth edition of the Qatar Development Bank’s (QDB) ‘Qatar Entrepreneurship Conference’— ‘ROWOD Qatar 2018’— at Doha Exhibition and Convention Center.

The official inauguration cer-emony of the coveted event was also graced by H E Sheikh Abdullah bin Saoud Al Thani, Governor of Qatar Central Bank (QCB), who is also the chairman of QDB.

QDB, the state-backed agency, in keeping up with its strides to offer growth paradigms to new age entrepreneurs, is hosting the event under the theme “Turning Challenges into Oppor-tunities”, during the Global Entre-preneurship Week (GEW), from November 11 – 13, 2018.

The three-day event, held

under the patronage of the Prime Minister and Inerior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, witnessed activ-ities, workshops, success stories and keynote speeches.

Held every November, the entrepreneurship conference inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators. “ROWAD Qatar 2018” is the world’s largest gathering of potential startups, collaborators, mentors and investors. It is now recognised as the ideal gateway or starting point of any start-up journey. This is also a platform for aspiring entre-preneurs to understand how to begin their startup journey from idea to business reality.

During the GEW, all countries around the world celebrate entre-preneurship through different types of events and activities. It’s considered as a celebration of the innovators and job creators who

launch startups that bring ideas to life, drive economic growth and expand human welfare.

Commenting on this occasion, Minister Al Kuwari, said: “Over the past years, Qatar has been able to demonstrate its ability to achieve economic diversification without relying entirely on the hydrocarbon capabilities by placing innovation, entrepre-neurship, and SMEs at the fore-front of its strategic priorities.

The country has made con-tinuous efforts to introduce series of rules and regulations to facil-itate collaboration between the different institutions of the State on one hand, and the constructive partnership with the private sector on the other hand to enhance the contribution of entrepreneurs and youth to the economic development and encourage their own initiatives within an innovative and creative environment.”

→ CONTINUED ON PAGE 23

H E Ali bin Ahmed Al Kuwari (centre), Minister of Commerce and Industry; H E Sheikh Abdulla bin Saoud Al Thani (second right), Governor of Qatar Central Bank; Abdulaziz bin Nasser Al Khalifa (second left), CEO of QDB; and other senior officials during the opening of Qatar Entrepreneurship Conference 2018 at DECC yesterday. PIC: BAHER AMIN / THE PENINSULA

Alibaba sets singles’ day record with $31bn in salesBLOOMBERG

SYDNEY: Alibaba Group Holding Ltd. logged 213.5bn yuan ($30.7bn) in sales for its annual Singles’ Day extrava-ganza, setting a record as shoppers swarmed the e-commerce giant’s online bazaars.

China’s largest company, which used a concurrent tele-vised entertainment spectacle featuring Cirque du Soleil and Mariah Carey to further drum up business, reported that Xiaomi Corp., Apple Inc. and Dyson Ltd. products were the top three brands in early sales.

The annual retail cele-bration, originally dedicated to the nation’s unattached, has become an important bell-wether not just for the company, but also the country. This year’s November 11 gala offers a glimpse of consumer sentiment in China as US tensions and a tit-for-tat tariff war depress stock markets and threaten to dampen the world’s No. 2 economy.

Alibaba surpassed the 100bn yuan mark less than two hours into Singles’ Day, according to Alibaba’s news website.

“We can feel that merchants are fully embracing the internet and helping with consumption upgrade,” Daniel Zhang (pictured), Alibaba’s chief

executive officer, told reporters in Shanghai.

The challenge for billionaire Jack Ma and Zhang, his lieu-tenant, was to notch another record after a scorching decade-long run. With a cooling economy, saturated markets and competition from smaller platforms such as JD.com Inc. and Pinduoduo Inc., Alibaba is seeking new growth engines.

“Alibaba is making use of all of its platforms to make Singles’ Day a holiday that also includes dining and entertainment,” Jet Jing, president of Tmall, one of the company’s main sites, said at the Singles’ Day event. “We’re connecting online shopping with offline physical outlets.”

The chief executive, who takes over from a retiring Ma as chairman next year, must prove he can carry on that legacy. His Hangzhou-based company also uses the occasion to test the limits of its cloud computing, delivery and payments units.

Page 2: BUSINESS - The Peninsula · 2018. 11. 12. · importance we dedicate to sports ... gathering of potential startups, collaborators, mentors and ... within an innovative and creative

22 MONDAY 12 NOVEMBER 2018BUSINESS

Businesses alter course as political headwinds threaten trade: HSBCTHE PENINSULA

DOHA: Businesses are upbeat about their prospects, encouraged by customer demand and favourable economic conditions, but are revising their strategies as protectionism dents the outlook for international trade, according to a new HSBC survey of over 8,500 companies: ‘Navigator: Now, next and how for business’.

More than three quarters (78 percent) of companies are pos-itive about the trading envi-ronment, rising to 86 percent in ASEAN countries and 82 percent in the EU, according to the 34-market report.

Over a third (35 percent) expect increasing consumption to be the top driver of their growth in the next year, with almost as many (33 percent) focusing on the economic envi-ronment and 32 percent on tech-nology to increase efficiencies or develop new products and services.

Yet at the same time, political headwinds are gaining strength as 63 percent of firms think gov-ernments are becoming more protective of their home econ-omies, up 2 percentage points since the first quarter of 2018. For those companies with a negative outlook on their company’s pros-pects, tariffs and the US-China trade dispute are the main reasons for pessimism (31 percent each).

The cost of tariffs is the top concern for US firms with a neg-ative outlook (60 percent), while in mainland China and Hong Kong the political dispute with the US is the greatest concern (65 percent and 53 percent respec-tively). In Russia (46 percent), Germany (39 percent) and Turkey (36 percent), it is the wider context of geo-political tensions that alarms them most.

Reflecting these uncer-tainties, many companies are turning their attention to intra-regional rather than inter-regional trading opportunities. When asked about their top targets for future trade growth, the number of European com-panies citing Asian markets dropped from 30 percent in the first quarter to 18 percent now, North American firms citing Asia fell from 43 percent to 30 percent, and Asian companies citing North America slipped from 44 percent to 34 percent. At the same time, more North American companies plan to

trade within their home region in the next three to five years (+5pp to 38 percent), and more Asia-Pacific companies are looking at China specifically as a future growth market (+4pp to 16 percent).

Noel Quinn, Chief Executive of Global Commercial Banking at HSBC, said: “Businesses are staying positive, but they’re sig-nalling to policymakers that pro-tectionism is a significant concern that’s reducing their appetite to grow through inter-national trade. Some are looking closer to home for opportunities, and many are adapting their approach to stay fit for the future.

We expect technology, digi-tisation and data to play an increasingly important strategic role by enabling businesses to develop their products and services, reach new customers and cut costs by improving oper-ational efficiency.”

The Navigator survey also shows that more than half of companies (51 percent) expect that free trade agreements, where they apply to their country and industry, will benefit them over the next three years. FTAs are particularly popular in emerging markets, with 60 percent of firms saying they will have a positive impact, compared to 45 percent of firms in developed markets.

Elie Maroun Al Asmar, Head of Commercial Banking in Qatar

HEC Paris International Executive MBA ranked #6 by the Financial TimesTHE PENINSULA

DOHA: HEC Paris, one of the world’s leading providers of Executive Education, announced yesterday that the Financial Times has just ranked its Inter-national Executive MBA (EMBA) as number six (#6) worldwide. It is the first time that the Inter-national EMBA programme is submitted for ranking.

The HEC Paris International EMBA is composed of the English modular and Doha tracks. It is run in English, in a part-time format and offers the possibility of complete mobility between tracks.

The Financial Times Exec-utive MBA ranking is based on two sources. First, each school

provides factual data about the programme, the faculty and the

school in general (this accounts for 45 percent of the overall ranking).

Feedback is then gathered from EMBA alumni who grad-uated three years earlier (this accounts for 55 percent of the overall ranking).

Moreover, alumni who answered the survey have received, on average, a 68 percent salary increase three years after graduation and HEC Paris programme is #3 in the career progress ranking.

HEC Paris has been ranked one of the world’s leading pro-viders of Executive Education programmes for the past eight years by the Financial Times, and The TRIUM Global Exec-utive MBA joint programme with

NYU Stern and LSE, is ranked #2. TRIUM has consistently been ranked within the world’s top five Executive MBA programmes in the FT rankings.

On this occasion, Dr Nils Plambeck, Dean and CEO, HEC Paris in Qatar, said: “This ranking is a recognition of the

strength of our Interna-tional Executive MBA programme.

The programme is supported by world-class faculty, offering an inno-vative curriculum and is backed by an outstanding alumni community.

We are very grateful to our faculties, Course leaders, Majors Directors, C a p s t o n e P r o j e c t

Director, Academic Partners and also our staff for their strong dedication and contribution to the success of our programmes.

This ranking also reflects our commitment to deliver the best in-class management prac-tices to current and future

leaders and equip them with the skills to face the changing global market dynamics. As a member of Qatar Foundation, HEC Paris can bring world-class education to Qatar and thereby support the Qatar National Vision 2030”.

The EMBA part-time pro-gramme also has a strong global element, with its modules avai lable in dif ferent locations.

It offers a special focus on strategy, leadership and the global business environment to ensure that participants gain comprehensive, innovative, and applicable knowledge and skills that they can adapt to their spe-cific roles and which will benefit their organizations. The next intake is in February 2019.

HEC Paris has been

ranked one of the

world’s leading

providers of Executive

Education programmes

for the past eight

years by the Financial

Times, and The TRIUM

Global Executive MBA

joint programme with

NYU Stern and LSE, is

ranked #2.

Over 240 Qatari firms to participate in ‘Made in Qatar’ expo in MuscatTHE PENINSULA

DOHA: Over 240 Qatari manu-facturing companies are to participate in the upcoming ‘Made in Qatar 2018’ exhibition to be held under the patronage of the Prime Minister and Minister of Interior H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, from December 3 to 6 in Omani Capital, Muscat.

The event is organised by Qatar Chamber in cooperation with the Ministry of Energy and Industry, QDB as strategic partner and in collaboration with Oman Chamber of Commerce and Industry.

Qatar Chamber (QC) board member and head of industry committee at the Chamber Rashid bin Nasser Al Kaabi said that the expo was scheduled to be held on November 5 but it is postponed to be held in the first week of December in the Oman Convention and Exhibitions Center.

The event which is held for the second time outside the country aims to open new channels of communication

between Qatari and Omani companies and exchange expertise between both coun-tries as well as informing the Omani community on the Qatari products and open new external markets for Qatari companies, he noted.

Al Kaabi said that on the side-lines of the expo, a Qatari-Omani business forum will be held in the participation of 100 leading businessmen from both sides to review investment and business opportunities available in both countries.

He praised the strong rela-tions between both countries

especially in economic and trade cooperation, noting that their trade volume achieved consec-utive leaps in short period and Oman topped destinations that recived Qatar Non-oil exports in many months of the current year.

Qatari businessmen are keenly interested to identify the industrial investment opportu-nities available in Oman, he pointed out.

Rashid bin Nasser Al Kaabi, Qatar Chamber board member and head of industry committee at the Chamber.

THE PENINSULA

DOHA: Saleh Al Hamad Al Mana Co, the sole agent for Nissan, Infiniti, and Renault in Qatar has achieved yet another milestone in after-sales services as the winner of the of the Global Nissan Aftersales Award Grand Prize (GNAA) from Nissan Motors Corporation.

During a ceremony held in Yokohama, Japan early last month, Martin Aherne, General Manager – Automotive at Saleh Al Hamad Al Mana Co, received this prestigious award that was presented by Norihide Tomita, General Manager - Global After-sales Network Department at Nissan Motors Corporation.

Commenting on the award, Aherne said: “We are honored to receive this award from Nissan Motors Corporation, which acknowledges our constant efforts to improve our aftersales services and deliver the best quality that is expected by our customers”.

Tomita added, “Saleh Al Hamad Al Mana Co continues to be a vital partner for Nissan in the Middle East, and this award is an interpretation of their continuous efforts to improve all aspects of their aftersales operations including network development.” GNAA is based on several criteria such as service frequency, loyal customers’ ratio, parts sales, and customer satisfaction index that entitle global distributors to be

nominated for this prestigious award.

As part of its strategy, Saleh Al Hamad Al Mana Co. continues to expand its aftersales network and improve its service quality in a way

that reflects its presence as an auto-motive market leader. The recent opening of the new Al Khor branch is a natural progression of this strategy which targets the commu-nities located in northern Qatar.

Martin Aherne, General Manager, Automotive at Saleh Al Hamad Al Mana Co, receiving the award presented by Norihide Tomita, General Manager, Global Aftersales Network Department at Nissan Motors Corporation, in Japan.

Doha Bank launches mobile app ‘Taeleem’ for its employeesTHE PENINSULA

DOHA: Doha Bank announced yesterday to have launched a new mobile application (app) for its employees called ‘Taeleem’. The appli-cation aligns the human capital development and learning strategy that the bank follows with its employees.

In addition to its internal Learning & Devel-opment portal for its employees, Doha Bank continue with the Taeleem mobile learning app, which is the first mobile learning appli-cation for bank’s employees in Qatar. The App aligns with digital learning advantages and is an education instrument for Doha Bank’s team globally. Employees can experience a unique opportunity for anytime learning programs,

which is part of the banks’ digital transfor-mation strategy. Taeleem is a learning man-agement tool that will not only provide employees with up to date information on their learning opportunities, it will also allow eve-ryone to actively engage with the Learning & Development Team and participate in the interactive yearly learning calendar.

All employees can download their learning content in form of videos, courses (In English and Arabic) and reference materials onto Android or iOS smart devices. This mobile app will provide unparalleled access to infor-mation, to support continuing professional development and enhancing employee Knowledge, Skills and Abilities at the Bank. The app will assist team members by providing

access to micro learning; supplementing on the job development and bank instructor lead programs. It will reinforce knowledge with 24x7, 365-day access.

Dr R Seetharaman, Group CEO, said: “Taeleem is the official Doha Bank Mobile learning feature, which enables bank employees to access learning content, anytime, anyplace and anywhere. We are an organi-zation which truly believes in providing their employees with opportunity and tools to develop themselves and be part of a continuous learning environment.

Doha Bank is committed to supporting the State of Qatar’s drive to develop a compre-hensive knowledge-based society that will drive future sustainability.

Saleh Al Hamad Al Mana Co wins Global Nissan Aftersales Award

Qatari-Omani business

forum will be held in

the participation of 100

leading businessmen

from both sides to review

investment and business

opportunities available in

both countries.

We expect technology,

digitisation and data

to play an increasingly

important strategic role

by enabling businesses

to develop their

products and services,

reach new customers

and cut costs by

improving operational

efficiency.

China’s import expo logs $57.8bn of dealsREUTERS

SHANGHAI: Around $57.83bn worth of deals were agreed for the year ahead at the China International Import Expo (CIIE), the official China Daily said.

CIIE, which brings thou-sands of foreign companies together with Chinese buyers in a bid to demonstrate the importing potential of the world’s second-biggest economy, closed on Saturday.

Deals for intelligence and high-end equipment were set to total $16.46bn, while those for consumer electronics and home appliances were around $4.33bn, the paper said on its official Twitter-like Weibo site.

Sales agreed for the auto-mobile sector goods hit $11.99bn, while clothing and consumer goods inked $3.37bn, and food and agricul-tural products made $12.68bn, the paper said.

In addition, $5.76bn worth of medical devices and medical care goods were sold, the paper added.

10,390.01

+21.84 PTS

0.21%

QSE FTSE100 DOW BRENT7,105.34

−35.34 PTS

0.49%

25,958.67

−232.55PTS

0.89% Dow & Brent before going to press

$60.02

-0.65

MarketWatch

Page 3: BUSINESS - The Peninsula · 2018. 11. 12. · importance we dedicate to sports ... gathering of potential startups, collaborators, mentors and ... within an innovative and creative

23MONDAY 12 NOVEMBER 2018 BUSINESS

Agribusiness giant ADM made buyout approach to Argentina’s MolinosREUTERS

BUENOS AIRES/LONDON: Top US grain merchant Archer Daniels Midland Co (ADM.N) has approached Argentine soy crusher Molinos Agro (MOLA.BA) about buying the company’s live-stock feed and soyoil manufac-turing plant, and talks may continue, three sources said.

Molinos and other Argentine soy crushers have been pum-meled by fallout from the US-China trade policy war which has given US crushers a competitive advantage.

The discussions began last year and then stalled over the price that ADM would pay for Molinos, a Buenos Aires-based industry source with knowledge of the situation told Reuters.

ADM declined to comment. A spokesman for the Perez Companc business group, which controls Molinos Agro, said the company had been approached “several times” by potential buyers. Without mentioning ADM in particular, the spokesman said “the offers were rejected.”

It was unclear how much Molinos, controlled by the Perez Companc business group, was valued at during the negotiations.

“ADM backed off because of the asking price,” the Buenos Aires-based industry source said. “There were differences in the valuation of the company. But it is logical that ADM could be back knocking on the door of Molinos.”

The Argentine company reported 665.9m pesos ($18.5m) in net earnings for the April through September period.

Company results could be pressured by tensions over global trade policy in the months ahead, the source said. “Next year will be a great year for buying soy crushing companies in Argentina,

and a bad year for selling them,” the source added.

Argentine crushers are working at about half capacity while US crushers are reaping the benefits of low soy prices after China slapped a 25-percent import tariff on US beans. The Perez Companc group has taken a “conservative” stance toward ADM’s overtures and has shown no eagerness to sell, the source said.

Two separate international industry sources with knowledge of the situation said exploratory talks between ADM and Molinos had taken place this year.

“Argentina is a key focus for ADM and they need assets there,” one said. “ADM will seek to take advantage of its strong position by taking over a major Argentine crushing operation that is being squeezed by the trade war,” another added.

An ADM-Molinos combi-nation would be in line with recent consolidation of the sector which has wrestled with a global oversupply of grains and oilseeds.

The escalating trade war between the US and China has reordered trade flows across the global grains sector, affecting companies like ADM, Bunge (BG.N), Cargill Inc and Louis Dreyfus Co, which together are known as the “ABCDs” and dom-inate the industry.

The trade policy dispute between the world’s two largest economies has driven down US soybean prices, which in turn has helped fuel profits for US soybean processors. ADM reported a higher-than-expected quarterly profit this week, cashing in on strong oilseed crushing margins.

ADM is the only one of the “ABCDs” that has no crushing capacity in Argentina. The com-pany’s chief financial offer Ray

Young said this week the group may look at mergers and acqui-sitions in general if a deal made sense.

ADM earlier this year made a takeover approach for Bunge.

Crushing plants that dot the banks of the Parana River, Argentina’s main grains thor-oughfare, are seeking to revive their business with a deal that would permit them for the first time to export soymeal livestock feed to China.

China generally imports beans to be crushed on the mainland, but with trade tension rising with Washington, Beijing may want to lock in alternative supplies. The US-China conflict, which has shifted

global commodity trade routes and distorted prices, is not the only factor ailing Argentine crushers.

Earlier this year the sector was hit by a drought on the Pampas farm belt that shriveled soybean supplies.

But over the long-term, with demand growing for soymeal feed needed for China’s massive pork sector, soy crushing along the Parana may thrive again. Argentina is the world’s top exporter of soymeal and soyoil, used for cooking and making biodiesel.

The nation’s massive soy crushers and grains elevators are sandwiched between the Pampas and the deeply dredged Parana. The set-up offers logistical advantages over main compet-itors Brazil and the United States, where moving grains involves more costly ground transpor-tation and loading products on and off barges.

Molinos was formed in 1902 as a unit of Bunge. It was sold to the Perez Companc group in 1999. The company’s main crushing facility is in San Lorenzo, on the Parana. It has a nominal crushing capacity of 20,000 tonnes of soy per day.

Soybeans are loaded onto a truck at a field in the city of Chacabuco.

Argentine crushers

are working at about

half capacity while US

crushers are reaping

the benefits of low

soy prices after China

slapped a 25-percent

import tariff on US

beans.

Bond buyers back Italy on hope political risks are just noiseBLOOMBERG

LONDON: The euro area’s highest investment-grade bond yields are simply too good to pass for some investors even as another round of dust-up between Italy and European Union looms large this week.

M&G Investments is dipping back into Italian short-dated debt, while BlueBay Asset Management LLP has a long position in the securities known as BTPs.

The near doubling of yields since the start of the year has also tempted retail investors back into the market, who tend to hold the bonds until maturity, according to the nation’s debt agency head Davide Iacovoni (pictured).

That’s despite an ongoing standoff with the EU, which saw the bloc dismiss Rome’s budget targets as overly optimistic. While Italy has until Nov. 13 to submit a revised version of its spending plans, the government has sig-naled it won’t bow to pressure from Brussels.

A pullback in Italy’s yield premium over Germany suggests the market is soft-pedaling the risk of populist politics in Rome

destabilizing the EU, not least because similar fears have already played out from France to Greece in recent years with little long-term consequence.

Past episodes of euro-breakup anxiety were typically resolved by last-minute compro-mises, and that may be fueling market expectations for a similar outcome to the ongoing Italian imbroglio.

While there’s no sign yet of an end to tensions with the bloc, that still doesn’t justify yields as high as they are, according to BlueBay.

“It’s been quite a rough and at times painful ride, but we still do think that we have the mis-pricing of Italian EU-exit risk,”

David Riley, chief investment office at BlueBay, told Bloomberg TV last week.

Investors are also looking to take advantage of a rare period of stability in Italian bonds, which have been rocked this year after euroskeptic political parties rose to power. S&P Global Ratings and Moody’s Investors Service both stopped short of downgrading the nation to junk last month, sup-porting investor confidence for the time being.

Wolfgang Bauer, who co-manages the M&G Absolute Return Bond Fund for the UK investment house that oversees £286bn ($372bn), sold most of his Italian bond holdings in February and March this year and has only just started to re-enter the market. His colleague Richard Woolnough has recently invested 1 percent of his M&G Optimal Income Fund portfolio in short-term BTPs after exiting peripheral euro-area debt in May.

“The risk-reward profile is now more attractive,” Bauer said at a presentation in Milan, Italy. “Even in the worst case scenario — a euro exit — it’s very unlikely that will be done in two years.”

Angola and Total launch new $16bn offshore oil platformAFP

LUANDA: Angola and French oil giant Total formally launched a major new offshore oil project to aid the country’s economy that plunged into crisis following oil price dips in 2014.

Project Kaombo, located in the Atlantic ocean 250 km from the capital Luanda, is Angola’s most significant offshore venture and cost $16bn.

Two boats, each more than 300 metres (985 feet) long, will pump crude from six subsea fields spread over an area of 800 square km — the same surface area as Paris.

A record-breaking 300 kil-ometre-long network of pipes has been built 2,000 metres down to bring up the hydrocarbons.

The first of the two new vessels, Kaombo Norte, pro-duced oil for the first time in July and will be joined by its sister ship Kaombo Sul in mid-2019.

The infrastructure will produce 230,00 barrels a day

once fully operational, equiv-alent to 15 percent of the coun-try’s current production.

Total has led the project in partnership with Angolan state oil company Sonangol, SSI (a joint venture between Sonangol and China’s Sinopec), US oil major Esso and Portugal’s Galp.

Total produces 40 percent of crude pumped in Angola which is sub-saharan Africa’s second largest producer behind Nigeria. “We will maintain our production levels in the coming years,” Total chief executive Patrick Pouyanne told journalists.

“There is a positive dynamic with the heightened petrol price and the desire of the Angolan

government to back the industry which is welcome.”

In the early 2000s Angola

enjoyed double-digit growth underpinned by its oil industry.

But in 2014 a global slump

in the price of black gold, which accounts for 90 percent of Angola’s exports and 70 percent of government revenues, plunged the country into deep recession and weighed down the local currency.

Last month oil prices reached their highest point for four years but have since softened.

Angolan President Joao Lourenco, elected in 2017 after his predecessor Jose Eduardo dos Santos’ 38-year rule, had promised an “economic miracle” that would end the country’s dependence on oil.

In recent year’s the southern African nation’s output has dipped to 1.5 million barrels per day on average.

“It is our goal to maintain production, the government is committed to the level not dipping during its term in office,” said oil minister Dia-mantino Azevedo.

Angola is one of Africa’s poorest countries and nearly half of the population lives below the poverty line.

FROM LEFT: CEO of France’s Group Total Patrick Pouyanne, Angolan Minister of State Resources Diamantino Azevedo, Angolan Minister of State Economy Manuel Nunes Junior and Chairman of Sonangol Carlos Saturnino attend the inauguration of the Total Kaombo oil project in Luanda.

The infrastructure

will produce 230,00

barrels a day once

fully operational,

equivalent to 15

percent of the

country’s current

production.

→ CONTINUED FROM PAGE 21

Al Kuwari added: “In this context, we are meeting today at the launch of Qatar Entre-preneurship Conference “ROWAD Qatar 2018”, organised by QDB for the fourth year in a row, with the partici-pation of several local and international government and Semi-government agencies, business leaders, investors, to emphasize on the important role the entrepreneurial sector plays in boosting the economy and to ensure a sustainable future for the next generation in line with the State’s efforts to promote the private sector, and in particular the SMEs, which are the cornerstone of the national economy.”

Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said: “We want to foster the spirit of entrepreneurship within the people of Qatar and encourage all the people who want to start their businesses.

We want them to come and celebrate entrepreneurship, see other SMEs, connect with the ecosystem players and be inspired. This platform also brings potential startups, col-laborators, mentors and investors onto one platform to

share ideas and bring them to reality. Like every year, this year too was highly successful in terms of greater turnout and the repository of ideas.”

The event also witnessed a signing ceremony about the launch the IBM Innovation Hub, between QDB represented by the CEO, Abdulaziz bin Nasser Al Khalifa and IBM represented by Steve Robinson, General Manager, IBM Cloud Labs, IBM Hybrid Cloud, in the presence of the Minister, and QDB chairman. The IBM Innovation Hub intends to provide tools and access to IBM’s subject matter experts to take ideas to the next level and introduce startups to the right networks. It will be based on IBM Design Thinking framework and IBM Cloud Garage methodology.

IBM Design Thinking framework is IBM’s approach to applying creative business solutions at the speed and scale modern enterprises require. It also helps organizations to place end users at the center of their innovation when addressing issues and devel-oping solutions. It is IBM’s 9th innovation hub, which will focus on promoting innovation in the areas of FinTech and

SportsTech. The hub will offer cutting-edge capabilities such as Artificial Intelligence (AI); Distributed Ledger Technology; and Watson Internet of Things (IoT).

As part of its leading role in supporting startups, entrepre-neurs and innovators in various sectors, QDB signed another agreement with Startup Bootcamp, the global player in accelerating Tech Startups, to launch the first SportsTech accelerator in MEA region in partnership with the goal to become the leading and central point in the region for sports innovation. The agreement was signed by the QDB’s CEO, and Carsten Kolbek, CEO of Startup Bootcamp.

The SportsTech accelerator aims to attract the local and the worlds’ most promising Sports technology startups, to further boost the sports industry and contribute towards the accel-erated growth shaping up in the Qatar sports business.

The accelerator is now open to startups globally, and the first programme will commence in February 2019. Startups can start applying on www.qatar-sportstech.com till December 2018.

Commerce Minister opens Qatar Entrepreneurship Conference

Page 4: BUSINESS - The Peninsula · 2018. 11. 12. · importance we dedicate to sports ... gathering of potential startups, collaborators, mentors and ... within an innovative and creative

The slowdown

coincided with

updated emissions-

test procedures,

which hurt sales of

new models across

Europe, hitting

Germany’s auto

sector. Industrial

production shrank

in the three months

through September,

but the Economy

Ministry sees an

improvement ahead.

24 MONDAY 12 NOVEMBER 2018BUSINESS

Germany’s auto rebound stung by trade tensionsBLOOMBERG

FRANKFURT: The car industry is steering the German economy again.

Automotive production should pick up again this quarter after new tests choked output and brought economic growth to a standstill over the summer. But the strength of the rebound — and the year-end economic revival that hinges on it — is in doubt as carmakers feel the pain of trade tensions and China’s slowdown.

W i t h G e r m a n y accounting for almost one-third of the euro-zone economy, its performance also has wider implications. Growth in the 19-nation cur-rency bloc slowed to just 0.2 percent in the third quarter, the weakest in four years. German data for the period will be published on November 14.

The slowdown coincided with updated emissions-test procedures, which hurt sales of new models across Europe, hitting Germany’s auto sector. Industrial production shrank in the three months through September, but the Economy Ministry sees an improvement ahead.

In fact, about 440,000 new cars were produced in October compared with 310,000 in

August, according to the VDA G e r m a n c a r m a k e r s ’ association.

As a consequence, German growth could bounce back to 0.8 percent, according to UniCredit’s Daniel Vernazza. JPMorgan’s Greg Fuzesi and David Mackie told clients to brace for a “big” bounce in industrial production from October onward.

Others are more prudent. HSBC economists Stefan Schilbe and Rainer Sartoris expect only a “modest

recovery” after outright con-traction in the third quarter. Their caution chimes with some of the noise from carmakers.

It’s not just that the bot-tleneck from the new tests will take time to clear up. Slower growth in China may sap demand in a vital export market for Germany. For Volkswagen AG, China accounts for about 40 percent of global deliveries. It’s also the biggest market for the Mercedes-Benz, BMW and Porsche luxury-car brands.

Car-parts producers like Continental AG and Schaeffler AG cited Chinese demand when they reined in their profit

outlook recently. Export orders plunged 13 percent in October from a year earlier, according to VDA, and production expec-tation fell.

For now, executives are still pro ject in g co n f iden ce . Volkswagen Chief Financial Officer Frank Witter said October sales will still feel the pinch but should rebound after that. Daimler AG’s CFO Bodo Uebber made s imilar comments.

But that hangs on the assumption China will stabilize demand after five months of dwindling sales — and possibly even introduce tax cuts for car buyers.

Volkswagen’s sales director Christian Dahlheim (pictured) said the impact of trade ten-sions on sentiment in China “will pose challenges for the remainder of the year.” Conti-nental warned Thursday that a deeper downturn would t h rea t en i t s reven ue projections.

“Looking at the external factors, the automotive industry is under pressure from various perspectives,” said Stefan Wolf, CEO of auto-part manufacturer ElringKlinger AG. That includes “the risk of a market decline in China which, as you know, is the major and biggest automotive market in the world.”

Amazon strikes deal with Apple to sell iPhones, iPadsREUTERS

NEW YORK: Amazon.com Inc said it would carry more Apple Inc products globally in time for the holiday shopping season, as the technology rivals put aside past differences to boost sales.

In coming weeks, the world’s biggest online retailer will sell the latest editions of Apple’s iPhone, iPad and other devices in the United States, Europe, Japan and India. Amazon sold a limited assortment from Apple previ-ously that included Mac com-puters and Beats headphones.

The deal underscores how top brands such as Apple and Nike Inc, which long resisted dis-tributing products via Amazon, are increasingly turning to the e-commerce site because it has become a critical channel for reaching customers. Amazon has taken a harder line on counterfeit goods as well.

As of January 4, Amazon will rid its site of Apple products from third-party merchants not authorised by the Cupertino, California-based technology

company. Still, shoppers will be able to find non-branded acces-sories - like headphones - that are compatible with Apple devices. Third-party merchants will be allowed to sell as they have been through the holiday season, while Amazon will add Apple products to its official Apple at Amazon page.

The lineup will include the Apple Watch but not the Apple HomePod, a high-end alternative to Amazon’s voice-controlled Echo device. Such competition in Silicon Valley has often come at the expense of customers.

Alphabet Inc’s Google pulled its video streaming app YouTube from two Amazon devices last year because of several com-plaints against the online retailer, including its decision not to sell some of Google’s products.

The logo of Amazon is pictured inside the company’s office in Bengaluru, India.

QATAR STOCK EXCHANGE

QE Index 10,390.01 0.21 %

QE Total Return Index 18,306.04 0.21 %

QE Al Rayan Islamic Index - Price 2,429.20 0.31 %

QE Al Rayan Islamic Index 3,941.43 0.31 %

QE All Share Index 3,061.23 0.04 %

QE All Share Banks &

Financial Services 3,771.68 0.08 %

QE All Share Industrials 3,350.01 0.04 %

QE All Share Transportation 2,100.77 0.47 %

QE All Share Real Estate 1,993.13 0.29 %

QE All Share Insurance 3,045.39 0.53 %

QE All Share Telecoms 983.39 0.05 %

QE All Share Consumer

Goods & Services 7,320.03 1.32 %

QE INDICES SUMMARY QE MARKET SUMMARY COMPARISON WORLD STOCK INDICES

GOLD AND SILVER

11-11-2018Index 10,390.01 Change 21.84 % 0.21 YTD% 21.90 Volume 2,895,517 Value (QAR) 108,182,531.35 Trades 2,143 Up 15 | Down 24 | Unchanged 0408-11-2018Index 10,368.17Change 115.67% 1.13YTD% 21.64Volume 5,909,884Value (QAR) 259,231,646.96Trades 4,507

EXCHANGE RATE

GOLD QR143.6093 per grammeSILVER QR1.7006 per gramme

Index Day’s Close Pt Chg % Chg Year High Year Low

All Ordinaries 6015.9 33.9 0.57 6481.3 5721.6

Cac 40 Index/D 5127.63 -10.31 -0.2 5657.44 4896.8

Dj Indu Average 26180.3 545.29 2.13 26951.81 23242.75

Hang Seng Inde/D 26227.72 80.03 0.31 33484.08 24540.63

Iseq Overall/D 6252.49 -2.28 -0.04 7257.41 5857.39

Kse 100 Inx/D 41309.55 -234.43 -0.56 47144.12 36274.25

S&P 500 Index/D 2813.89 58.44 2.120888 2940.91 2532.69

Currency Buying SellingUS$ QR 3.6305 QR 3.6500

UK QR 4.7433 QR 4.8103

Euro QR 4.1333 QR 4.1919

CA$ QR 2.7597 QR 2.8141

Swiss Fr QR 3.6103 QR 3.6612

Yen QR 0.03174 QR 0.0324

Aus$ QR 2.6295 QR 2.6812

Ind Re QR 0.0499 QR 0.0508

Pak Re QR 0.0267 QR 0.0278

Peso QR 0.0683 QR 0.0697

SL Re QR 0.0206 QR 0.0211

Taka QR 0.0431 QR 0.0439

Nep Re QR 0.0309 QR 0.0315

SA Rand QR 0.2580 QR 0.2633

Page 5: BUSINESS - The Peninsula · 2018. 11. 12. · importance we dedicate to sports ... gathering of potential startups, collaborators, mentors and ... within an innovative and creative

25MONDAY 12 NOVEMBER 2018 BUSINESS

BREAK TIMEVILLAGGIO & CITY CENTER

Note: Programme is subject to change without prior notice.

Sarkar (2D/Tamil) 2:00, 8:30 & 11:15pmThugs Of Hindostan (2D/Hindi) 2:00, 4:15, 8:00 & 11:00pmThugs Of Hindostan (2D/Tamil) 5:00pmThe Grinch (2D/Animation) 2:30 & 4:45pmTo Love Some Buddy (2D/Tagalog ) 6:30pmBohemian Rhapsody (2D/Drama) 7:15pmOverlord (2D/Action) 9:30pmAl Fundok (2D/Arabic) 11:30pm

Thugs Of Hindostan (2D/Hindi) 2:00, 5:00, 7:45 & 10:45pmThugs Of Hindostan (2D/Tamil) 4:15pm Sarkar (2D/Tamil) 5:00, 8:00 & 10:45pmThe Grinch (2D/Animation) 2:30pmAl Fundok (2D/Arabic) 7:15pmTo Love Some Buddy (2D/Tagalog ) 9:15pmOverlord (2D/Action) 11:15pm

Sarkar (2D/Tamil) 2:30 & 5:15pmThe Grinch (2D/Animation) 2:30pmThugs Of Hindostan (2D/Hindi) 4:15 & 8:00pmA Private War (2D/Drama) 7:15pmBohemian Rhapsody (2D/Drama) 9:15pmOverlord (2D/Action) 11:30pm

Sarkar (2D/Tamil) 5:00, 7:00, 8:00, 10:00, 11:00pmThugs Of Hindostan (2D/Tamil) 6:00pm Thugs Of Hindostan (2D/Hindi) 6:00, 9:00pm

Thugs Of Hindostan (2D/Hindi) 12:45, 4:00, 7:15 & 10:30pmSarkar (2D/Tamil) 11:15am, 2:15, 5:15, 8:15 & 11:15pmThe Grinch (2D/Animation) 10:45am, 12:45, 2:45 & 4:45pm Overlord (2D/Action) 6:45, 9:15 & 11:45pm

Sarkar (2D/Tamil) 10:20am, 1:30, 4:50, 8:10, 11:30, 6:30, 10:00pm & 1:00amThe Grinch (2D/Animation) 10:30am, 12:30, 2:30 & 4:30pmThe Nutcracker and The Four Realms (2D/Adventure) 11:00 & 1:00pmThugs Of Hindostan (2D/Tamil) 10:30am, 1:00, 2:00, 3:00, 5:30,7:30, 11:30, 6:20, 9:00, 9:40pm & 0:30am

A little squad of American soldiers find horror behind enemy lines on the eve of D-Day.

ROYAL PLAZA MALLCROSSWORD

LANDMARK

FLIK Mirqab Mall

ROXY

ASIAN TOWN

AL KHOR

A Private War (2D/Drama) 5:45 & 10:40pmAl Fundok - (2D/Arabic) 7:10pmBohemian Rhapsody (2D/Drama) 10;50am, 12:35, 1:25, 3:10, 4:00, 8:20 & 10: 55pmEl Kowayseen (2D/Arabic) 8:10pmOverlord (2D/Action) 9:55, 11:30pm & 0:10amSarkar (2D/Tamil) 2:00, 4:30, 6:35, 8:00 & 11:25pmThe Grinch (2D/Animation) 10:35, 11:30, 12:30, 1:25, 2:25, 3:20, 4:20, 5;15 & 6:15pmThe Nutcracker and The Four Realms (2D/Adventure)

11:45, 12:10 & 2:20pmThugs Of Hindostan (2D/Hindi) 12:00, 3;30, 5:00, 7:00, 9:00, 10:30pm & 0:25am

OVERLORD

Italy can block EU budgets in dispute on migration: SalviniBLOOMBERG

ROME: Italian Deputy Premier Matteo Salvini (pictured) said yesterday that his government could halt European Union budget decisions and other policies if the bloc’s partners continue to show disrespect to his countrymen, in the nation’s latest spat with neighbors over migration from North Africa.

“We have shown that we know how to defend the

borders and we will show that we could also block European budgets and actions as long as Europe and some countries keep mocking Italians,” Ansa newswire cited Salvini as telling reporters on a visit to Milan.

Salvini, who is also Italy’s interior minister and leader of the anti-migration League, accused Maltese authorities on Saturday of sending migrants from across the Mediterranean

on to Italy. He has refused access to

Italian ports for ships which had rescued migrants, and clashed repeatedly with French Pres-ident Emmanuel Macron over who should welcome new arrivals.

Salvini said Saturday that officials in Malta were sup-plying fuel, compasses and life-jackets to a ship carrying migrants that was then “escorted and sent towards Italy as if it was a garbage dump.” He added: “We have liars in

government in France and in Malta, and we have people who are distracted at the European Commission.”

Michael Farrugia, Malta’s home affairs minister, tweeted Saturday that his country “has done much more than was expected, and disembarked migrants in Malta on humani-tarian grounds due to Italy’s systematic failure to provide any form of assistance to persons in distress.”

Inflation data, crude price to drive equitiesIANS

MUMBAI: Macro-economic indicators such as inflation, factory output as well as global crude oil prices will dictate the stock market trend next week, analysts said.

A string of assembly elec-tions, starting November 12, will also drive investor senti-ments after range-bound movement the previous week.

The government will release Consumer Price Index (CPI) and Wholesale Price Index (WPI) data for October next week. Retail inflation for September was at 3.77 percent, up from 3.69 in August. The wholesale inflation rose to 5.13 per cent in September, from 4.53 percent in August.

Assembly elections kick-start with the first phase of elections in Chhattisgarh on Monday, November 12. Madhya Pradesh, Rajasthan, Chhat-tisgarh, Telangana and Mizoram go to polls this month and the next to reconstitute their respective assemblies.

The Bharatiya Janata Party (BJP) rules Madhya Pradesh, Rajasthan and Chhattisgarh, and a return to power in these states will bolster Prime Min-ister Narendra Modi’s chances of winning next year’s general election. Also, crude oil prices, which have eased recently, would guide the equity market next week, analysts said.

In the week ended November 9, crude prices fell significantly from their recent highs. Brent crude oil is cur-rently hovering around $70 per barrel, compared to $86 in early October.

Venture capitalists search for opportunities in PakistanINTERNEWS

ISLAMABAD: A large consumer base, along with a nascent digital entrepreneurship land-scape and not many interna-tional players, makes Pakistan a great place for investments, said Riyad Abou Jaoudeh of Middle East Venture Partners (MEVP) yesterday.

He was addressing the ‘Investor Panel Where is the money?‘ at the 021Disrupt event. The two-day event, organised by Nest I/O a tech-nology incubator, featured Pakistan‘s diverse startup eco-system along with local and foreign venture capitalists, innovators and entrepreneurs. During the discussion, panelists talked about how the local eco-system is faring in terms of innovation.

They were all of the view that Pakistan is currently in the stage where tech-enabled startups are imitating ideas from successful American or European business models that have investors‘ interest. Deep tech, on the other hand, requires much more funding

and patience for which the country is not yet ready, they said.

The panelists also cau-tioned investors against becoming too involved.

‘We are the venture capi-talists. We don‘t tell entrepre-neurs what to do. We advise but we don‘t tell, ‘ underlined Jaoudeh.

However, Khaled Talhouni of Wamda Capital differed: ‘We have specialist teams in oper-ations, marketing and all which

our portfolio companies can seek consultation from.

Responding to a question regarding the best way to connect with a venture capital, Bernhard Klemen of Sar-mayacar stressed on avoiding cold calling and rather focusing on recommendations.

To would-be entrepre-neurs, Shahida Saleeem of PEP anot money bags! She, however, stressed that it wasn‘t the investors‘ job to figure out where the startup is going. ‘The job of an investor is to offer support.

On the sidelines of the con-ference, Jaoudeh, managing director of MEVP a fund investing in Arab states shared the company‘s intentions to enter the emerging Pakistani market.

‘We haven‘t invested any-thing here as yet but now we are exploring opportunities here, particularly in companies wanting to raise B round,‘ he said, referring to the second round of funding that startups require after the initial seed money.

The company has a

portfolio of around 40 startups, ranging from fintech to bookings.

Sarmayacar the Nether-lands based early stage venture capital that just raised $30m to invest in Pakistan also shared its plans.

Klemen and CEO Rabeel Warriach (pictured) said that they were looking to invest between the range of $100,000 to $2m in local tech or tech-enabled startups. Sarmayacar already has stakes in three Pakistani companies Patari, ProCheck and Simpaisa -and would now be expanding that portfolio.

The event also officially

marked the entry of a South East Asian venture capital Gobi VC in Pakistan, with an investment of $1.5m in local booking app, Sastaticket.pk. Raof Zainuddin of Gobi said that their VC will be actively looking for more opportu-nities here in early stage startups.

On the occasion, Badr Ward, CEO of Lamsa, an edutainment app from the Middle-East, announced that the company would be launching the application in Urdu in early 2019. The app provides education and enter-tainment for children with over 10m downloads.

In his talk ‘The serious business of edutainment‘, Mr Ward stressed on the need for localised content in mother tongue and making learning fun.

Repeatedly underscoring the need for teaching kids in mother tongue, he said, ‘I spoke Arabic and I grew up fine.‘ ‘I highly encourage young parents here to speak to your kids in Urdu. Empower future generations in Urdu!‘ he urged.

The company has a

portfolio of around

40 startups, ranging

from fintech to

bookings. Sarmayacar

the Netherlands

based early stage

venture capital that

just raised $30m to

invest in Pakistan also

shared its plans.

Page 6: BUSINESS - The Peninsula · 2018. 11. 12. · importance we dedicate to sports ... gathering of potential startups, collaborators, mentors and ... within an innovative and creative

26 MONDAY 12 NOVEMBER 2018CLASSIFIEDS

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REGENCY RESIDENCE AL SADD 1 (AL SADD): Fully .��������� =� �������� �)� %����-�� �������� ����� ���������������� ������ �������� ������� �� ������� ��� �� �������� � ������������� �����!�"�#$��%"&'#'"()�(��������������I+���(��� ������ J��������(���� ��������!�"�#$�("�/'�"()�02������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� � � ??;;� =>07� � >>77� 20??� �??;;2?>?����"%�'4)������������@������������������REGENCY RESIDENCE AL SADD 3 (AL SADD): 3���+�.���������>K���������)�%����-��������������������������� �������� ������� �� ������� ��� �� �������� � � ������������ ��� ��!�"�#$� �%"&'#'"()� 3���+� "G��**��� I+���� ��!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� �::<:�;2=>� �:::2�=?;<� �??;;�0>72� �??;;2?>?����"%�'4)������������@������������������REGENCY RESIDENCE ALSADD 3 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ��������������������������������������������� ��������������������� �������� � � ������������ ��� ��!�"�#$�("�/'�"()� 02�D������������+��������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� ??;;�0>:?� �:::0�?=2;� �::<7�:7:?� �??;;2?>?����"%�'4)������������@�����������������REGENCY RESIDENCE AL SADD 10 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ���������������� ������ ��������� ������ �������� ������� ��� ���������� �������� ����� ������������ ��� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� ??;;� 0>:?� � :::0� ?=2;� �::<7� :7:?� ��� "%�'4)� �����������@������������������������������@������������������REGENCY RESIDENCE AL SADD 12 (AL SADD): Fully .��������� =� �������� �)�� ��������� ������� �� ������� ��� ���������� � � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �G��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?�� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 12 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �G��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!�� %!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>=;�0?2?� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@������������������REGENCY RESIDENCE AL SADD 13 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � � ����������� � ��� ��!�"�#$� ("�/'�"()� 02� �������������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>=;�0?2?� �??;;�0>72� �::<7;0;8� �:::0�?=2; �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE MUSHEIREB 1 (MUSHEIREB): 3���+�.���������=������������������������������������������ �������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� '������(��������������I+���(�����������������J�������B����������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::8;�=802� �::7>�?8:<� �>>77�20??� �::<7�:7:?����"%�'4)�����������������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): 3���+�.���������=������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������I+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!�� %!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �??;;�2?>?� �:::=�08>2����"%�'4)�����������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): (����.���������0������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������I+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!�� %!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<7�<070� �??;;�=>07����"%�'4)�����������@����������������� REGENCY RESIDENCE AIRPORT 2 (DOHA AREA): (���� .��������� 0� �������� ��� ��������� ������� �� ��������������������� ��*����� �����!�"�#$��%"&'#'"()�(��������*����� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������

3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<:�;2=>� �>>2>�>=?<����"%�'4)�����������@����������������� 63 OLD SALATA (OLD SALATA):�3���+�.�����������������+*�� ��� �������� �� �������� � � ����������� � ��� ��!�"�#$��%"&'#'"()� I+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� ��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:?�8=:?� �>;>7�:0<8� �:::0�?=2;� �>>2>�>=?<����"%�'4)�����������@����������������� GULF RESIDENCE 13 (MUNTAZAH): Fully furnished >� �������� �)� %����-�� �������� ����� ������� ����������������������������������������������������� ������������� ��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>>2>�>=?<� �::<7�;2?0� �??;;�2?>?����"%�'4)�����������@����������������� GULF RESIDENCE 14 (MUNTAZAH):�3���+�.���������>����������)�%����-�����������������������������������������������������������������������������!�"�#$�("�/'�"()�02� ������ �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>:?�8=:?� �>;>7�:0<8� �:::=�08>2� �::<7�<070����"%�'4)������������@����������������� GULF RESIDENCE 14 (AL NASSER):� 3���+� .���������0����������)������������������������������������������������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�>>=;�0?2?� �??;;�=>07� � ::<:� ;2=>� � :::2� =?;<� ��� "%�'4)� �����������@������������������

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REGENCY BUSINESS CENTER 3 (GRAND HAMAD STREET):� ���������� !.E��� (*��� � � ����������� � ������������*���+�� ������������������� �������+��������#/���(*��������E����.��+��+������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829� >;>7� :0<8� � >>:?� 8=:?� � :::2� =?;<� ��� "%�'4)�����������@����������������� REGENCY BUSINESS CENTER 2 (CORNICHE): ���������� !.E��� (*��� � � ����������� � ��� ������� �� *���+��������� ��� ��������� �� (*�������� E��� �.��+� �+������ 3!��%!�"� '&3!�%�#'!&���44)� 567829�>;>7�:0<8� �>>:?�8=:?� �??;;�0>72����"%�'4)�����������@����������������� SALWA ROAD OFFICES:� %�������� 6� =��� 3����)� =0�!.E����� 4������ ���� =?2� ��� =72� �G�� �� 0� ������� (����� ����!.E���� 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� ::<7�;0;8�����"%�'4)���������@�������������������REGENCY BUSINESS CENTER 2 (CORNICHE STREET): ���������� !.E��� (*��� � � ����������� � ������������*���+�� ������������������� �������+��������#/���(*��������E����.��+��+������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829� >;>7� :0<8� � >>:?� 8=:?� � :::2� =?;<� ��� "%�'4)�����������@����������������� OFFICE COMMERCIAL BUILDING:� ���������� !.E���(*���� �B��������I������6�0�3�������==2��������(������3!��%!�"� '&3!�%�#'!&���44)� 567829�::<7�;0;8� �222<�:===� �2;2=�;80:����"%�'4)���������@������������������

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

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