Doha Group

Qatar-FIFA ties reviewed:

HH the Emir Sheikh Tamim bin Hamad al-Thani yesterday visited FIFA President Sepp Blatter at the home of FIFA in Zurich.

During the meeting, HH the Emir and Blatter discussed bilateral relations between Qatar and FIFA, ways and means to enhance co-operation, as well as Qatar’s continued progress in improving the welfare of migrant workers. They also reviewed preparations and efforts by Qatar in various fields to host the 2022 FIFA World Cup.

“It was an honor to host HH the Emir. Qatar is working hard to take advantage of the 2022 FIFA World Cup as a vehicle for social development that will contribute to the promotion of football in the region,” said Blatter.

The meeting was also attended by HH Sheikh Jassim bin Hamad al-Thani, the Personal Representative of HH the Emir, and FIFA Secretary General Jerome Valcke.

Gulf Times

Milestone as A380 joins QA fleet:

Qatar Airways’ (QA) first A380 aircraft arrived yesterday at Hamad International Airport. It will begin its inaugural flight QR001 next month between Doha and London’s Heathrow airport.

A receiving ceremony for the world’s largest twin-deck passenger aircraft, also dubbed as superjumbo, was held in the evening in the presence and patronage of the Prime Minister and Interior Minister H E Shiekh Abdullah bin Nasser bin Khalifa Al Thani.

Also present were the Minister of Finance and Chairman of QA H E Ali Shareef Al Emadi, Group CEO, QA, Akbar Al Baker, sheikhs, dignitaries, guests and scores of journalists from local and international media organisations.

“The arrival of the new super-jumbo marks a moment of great pride for Qatar and the national airline,” Al Baker told a press conference yesterday.

“QA has grown from strength to strength and is recognised all around the world for its excellence and high standards. This is thanks to the vision of the Emir H H Sheikh Tamim bin Hamad Al Thani and the Father Emir H H Sheikh Hamad bin Khalifa Al Thani,” Al Baker added.

“Qatar Airways began operations in 1997 with just four aircraft operating to 14 international routes. In 2003, we placed our order for the Airbus A380 super-jumbo, and at that time we were operating to only 50 destinations with 28 aircraft. Today, as the A380 joins our rapidly growing fleet, we are operating 137 aircraft to 144 destinations in six continents.”

He said that the A380 will form the backbone of the airline’s fleet and support its strategy of facilitating predominantly long-haul traffic with high-density, wide-body aircraft.

Departing Hamburg, Germany, direct from the Airbus factory last morning, the plane touched down at 5pm to a spectacular ceremony at HIA, the airline’s new home, with more than 500 guests in attendance.

The aircraft’s seat pitch of 90 inches is the longest in the industry and it features bespoke interiors and a premium lounge on the upper deck.

Asked about the price of the super-jumbo, Al Baker, said: “We cannot disclose the actual price, but the list price is $380m. When we increase our orders for additional A380s we will demand further discounts.”

He added that QA had exacting specifications for interiors of the plane to match its luxury standards.

The Peninsula

Largest app development contest in MENA region comes to Qatar:

Qatar Business Incubation Center (QBIC) has been appointed Qatar country host for the second Arab Mobile App Challenge, enabling it to reach out to talented young entrepreneurs and developers whose great ideas can become viable apps. This year AMAC is opening its doors to the Pan Arab region and encouraging its young people to form teams, put their technical innovation skills to the test, and win big prizes.

Launched in 2013, the Arab Mobile App Challenge invites teams of up to six members under the age of 35 to develop mobile apps designed to make an impact in the education, health, entertainment and employability/entrepreneurship sectors.

The programme aims to educate young Arabs about entrepreneurship and the path to launching a start-up, as well as enhancing business skills and design abilities. Such was the success of the first event that more than 15 percent of participants who reached the semi-final stages now have their own start-up businesses, fuelling economic growth and creating employment.

Aysha Al Mudahka, CEO of QBIC said: "QBIC is positioning itself as the largest MENA mixed business incubator and an entrepreneurial hub. As we are not a specialized or vertical incubator, we rely on building partnerships with specialty programs and partners to create a funnel to attract applicants that match the local and global trends. Mobile applications are the new mainstream for entrepreneurs worldwide because they are scalable, easy to build, and have a rich business model.
For that QBIC was eager to partner with AMAC (Arab Mobile Applications Contest) as the Qatar Country Host and the regional partner along with other players like Ooredoo. We are looking forward to this partnership to give our entrepreneurs the local, regional and international exposure that can be leveraged by participating in AMAC.”

"For 2014, the programme has been expanded to offer a mix of direct and web-based activities for the young teams in the Middle East and North Africa, who will join participants in North America and South East Asia in the challenge. With the combined competitor base of three regions, it will be the largest mobile app challenge in the world this year" Al Mudahka added.

Top prizes include USD 25,000, USD 15,000 and USD 10,000 rewards for first, second and third places, as well as the chance to compete in the Global App Challenge in Barcelona, hosted by the Mobile World Congress.

In addition, participants benefit from on-going support programmes, including mentorship, partner matching and development training, to enable them to realize their start-up goals. In Qatar, the programme will be supported by QBIC and Ooredoo.

Partners on the programme include Pearson, IE Business School, Mada, Oasis500, Wamda, MIT Enterprise Forum Pan Arab Region, Potential, In5, Supcom, Ooredoo, Bader Lebanon, Coworking+961, the Queen Rania Centre for Entrepreneurship, and Int@j Jordan.

Young people wishing to take part in the Challenge can register until 15th October 2014. Once registered, they will receive regular updates via email and social media, with training beginning in September, both online and in major cities across the Arab world.

For more information about the Arab Mobile App Challenge, see www.arabmobilechallenge.com.

Appointment of new Group Chief Executive Officer at al khaliji:

Al Khalij Commercial Bank (al khaliji) Q.S.C. announced the official appointment of Mr. Fahad Abdulla Al Khalifa as Group Chief Executive Officer.

In making the announcement on behalf of the Board, H.E. Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director, acknowledged Mr. Al Khalifa for his achievements and experience.

"Mr. Al Khalifa's skills and career history match the aspirations of al khaliji bank. Having wide banking experience, he has demonstrated commitment to the banking sector in Qatar, gaining the trust and appreciation of the board. We are confident Mr. Al Khalifa's appointment, as al khaliji Group's CEO, will contribute to the bank’s capabilities and leadership while strengthening its position in Qatar and the region. On behalf of the al khaliji Board of Directors and al khaliji employees we would like to warmly welcome Fahad to his new position”.

Al Khalifa is a senior banker with over 20 years of experience; he has held prominent positions in Qatari banks, including Qatar Central Bank and Qatar National Bank (QNB), which translates into knowledge and perspective with regards to the local and regional market. Al Khalifa is a graduate from the Seattle University in the United States with a Bachelor of Science Degree in Finance.

Barwa Bank extends operating hours at Al Sadd branch:

Barwa Bank, Qatar's fastest growing Shari’ah-compliant bank, announced the extension of the operating hours of its Al Sadd branch. Effective today, 1 September, the branch will be open from 3:30pm to 9:00pm, six days a week from Saturday to Thursday.

Hussain Al Abdullah, General Manager, Personal Banking & Wealth Management, at Barwa Bank said:

“We remain committed to staying in tune with our customers’ needs and creating a more convenient banking experience, in line with our customer-centric approach. Keeping the doors open for extended hours’ service reflects Barwa Bank’s aim to continually provide accessibility and quality service”.

Barwa Bank offers a wide range of retail products and investments and has seven strategically located branches as well as a wide network of more than 50 ATMs located all across Qatar. Customers can access their accounts from the convenience of their office or home through the state-of–the-art online banking as well as 24/7 Contact Centre.

Qatar tops UNDP index for GCC again:

Qatar has again ranked first among the GCC countries in the Human Development Index (HDI) 2014 released by the United Nations Development Programme (UNDP). Maintaining last year’s position, Qatar ranked 31st among 187 countries.

Saudi Arabia ranked 34, the UAE 40, Bahrain 44, Kuwait 46 and Oman 56. Except Kuwait, which fell two ranks, other GCC countries maintained the rank achieved in the previous year’s index. The peninsula Norway topped the index while Australia and Switzerland stood second and third, respectively. Niger stood last at 187th in the index. Countries ranked between 1 and 49 in the index are categorized as those with “very high human development.”

The HDI is a statistical tool used to measure a country’s social and economic development. According to the United Nations Development Programme, HDI is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living.

The HDI was created to emphasize that people and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone.

According to income-based measures of poverty, 1.2 billion people live on $1.25 or less a day, UNDP said in the press release. However, the latest estimates of the UNDP Multidimensional Poverty Index reveal that almost 1.5 billion people in 91 developing countries are living in poverty with overlapping deprivations in health, education and living standards. And although poverty is declining overall, almost 800 million people are at risk of falling back into poverty if setbacks occur.

The Peninsula

Al khaliji awarded “Best Operational Bank Qatar 2014”:

Al Khalij Commercial Bank (al khaliji) QSC has been awarded the “Best Operational Bank Qatar 2014” by the Global Financial Market Review (GFMR), one of the worlds’ leading global banking and finance online publications providing up to date information within the finance sector.

al khaliji ICT team has worked in collaboration with various development companies and stakeholders across the bank to replace al khaliji core banking system with T24 in just 15 months. Accordingly, through a unified system platform, the bank was able to efficiently improve its personal and commercial banking and treasury operations, trade finance, customer relationship management and business intelligence functions.

Hesham EzzEldin, Acting Group CEO at al khaliji, commented, “We are very proud to have won this prestigious award from Global Financial Market Review, and we are especially pleased to be nominated as the Best Operational Bank in Qatar. al khaliji has recently endorsed a new operational system that unifies our core banking platform and eliminate complexity. Our new T24 core banking system was implemented by ‘Temenos’. Recognition from a leading publication such as GFMR further solidifies al khaliji's position as one of Qatar’s leading and fastest-growing banks”.

In addition to the successful implementation of T24, al khaliji has also deployed ‘Insight’ for business intelligence products and ‘Treasury Trader’, which enables a seamless and transparent flow of information synchronizing front, middle and back office investment banking operations.

GFMR is a dedicated online news portal that focuses on financial markets’ industries and news. Its yearly Awards honors organizations and companies that stand out in particular areas of expertise in banking and finance and that have achieved notable success in their respective fields. The awards selection is based on general criteria, including Transparency, Corporate Governance, Sustainability, Volume of transactions, Innovation, Customer Service. Some of the specific criteria used included Market Capitalization, Earnings per Share, Price/Earnings Ratio, Total Revenues, Net income, Operating Profits, and other elements.

al khaliji is the only Bank in Qatar among the international banking and financial institutions that received the GFMR awards in recognition of the exceptional manner in which these institutions have performed over the last year.

HIA gets ready for back-to-school rush:

Hamad International Airport (HIA) is preparing for the increase of arrival passengers during this busy back-to-school period, according to a statement issued yesterday.

The staff at HIA have taken several measures, including extending the queue layout at the taxi pick-up points to ensure that passengers receive rapid on-going travel service, deploying extra staff within the terminal to offer guidance and advice, and placing additional baggage trolleys within the baggage reclaim hall.

Members of the public receiving arriving passengers can avail of the free parking at HIA for the first 30 minutes in the short-term car park. Thereafter, the short-term car park is charged at QR5 per hour.

Prior to exiting the passenger terminal, payments for the short-term car park must be processed at the parking payment machines located in the bridge connecting the Passenger Terminal Complex to the car park.

Free parking can also be found in the long-term car park, which includes a bus ride to the bus terminal at HIA. All unattended vehicles parked on the kerbside throughout the HIA facility will be towed away by the authorities.

Abdulaziz al-Mass, vice-president (Commercial) at HIA, said: “We are much better equipped to handle the increase in passenger traffic this summer, and with the modern technology available to us at Hamad International Airport, we can ensure that all our passengers enjoy a seamless, hassle-free experience.”

Gulf Times

Qatar Exchange index jumps 112.38 points:

Spurred by industries and top banks’ stocks, Qatar Exchange index jumped 112.38 points, or 8.2 percent, yesterday when the bourse closed trading at 13,865.89 points.

The trading value reached QR965.48m with a volume of 16,759,297 shares changing hands from 8,488 transactions yesterday.

From the 43 listed companies, a majority from the 26 gainers advanced significantly.

Shares of six banks made gains from 3.72 percent to 0.25 percent while eight companies from industrial sector advanced. Qatar Industrial Manufacturing Company was the only one to lose slightly, 0.21 percent.

Islamic Holding share jumped 4.01 percent, up QR3.60 to close at QR93.40 while Qatar International Islamic Bank share gained 3.72 percent, up QR3.30 to close at QR92.

From the real estate sector, Mazaya Qatar was up 4.07 percent when it closed at QR24.82 with a fair trading volume of 2,418,771 shares.

Thirteen companies declined yesterday. Qatar Islamic Insurance was down 2.16 percent to QR90.60. Four companies remained unchanged.

The Peninsula

Report: 2022 World Cup should be moved to winter for spectators’ sake

As the debate over the feasibility of holding the 2022 World Cup during Qatar’s searing summer months continues, new research has come out in favor of rescheduling the tournament to the winter.

In a new report published in the International Journal of Biometeorology, researchers asserted that many football fans who turn out for the games could suffer “strong heat stress.”

The report’s authors compared official temperatures recorded at the Doha International Airport between March 1999 and January 2014 with thermal indices such as the Physiological Equivalent Temperature (PET), which takes various factors such as humidity and windspeed into account.

Based on its findings, the report recommended that the World Cup be moved from July to sometime between November and February, “when thermally comfortable conditions are much more frequent.”

“Thermal comfort” was defined as the air temperature at which, in a typical enclosed setting (without wind and solar radiation), the energy balance of the human body reaches an equilibrium state of satisfaction.

For the average central European, this occurs when temperatures range from 18C (64F) to 29C (84F), the report states.

However, in Qatar, the daytime mean maximum air temperatures in June and July – the months that the World Cup are usually held – often exceeded 50C (122F).

Additionally, the average daily minimum air temperature did not drop below 30C (86F) during this same time period.

Unsurprisingly, the researchers concluded that, based on thermal comfort levels of the average central European visitor:
“The results show that this kind of event may be not appropriate for visitors, if it is placed during months with extreme conditions.

For Doha, this is the period from May to September, when conditions during a large majority of hours of the day cause strong heat stress for the visitors.”

The report added that the optimum time of year to hold a World Cup in Qatar, in terms of spectator comfort, would be in the winter months, when average temperatures are regularly in the high teens or low 20Cs.

It concluded:

“It is not the aim of this study to show that Doha City is inappropriate for the FIFA 2022 but to find a time period with the most suitable thermal conditions for visitors and tourists. According to the results, this is the time from November to February.”

Doha News

CBQ, Alfardan Exchange, and Rev partner to launch first prepaid multi-currency travel card:

Commercial Bank, one of the leading full service banks in Qatar, Alfardan Exchange, a leading Exchange House in Qatar, and Rêv Worldwide, a payment products innovations company and global prepaid processor, have partnered to develop the first prepaid multi-currency travel card in Qatar and Visa’s first in the Middle East. Customers can now buy their foreign currency on a re-loadable Visa Prepaid Travel Card that offers several advantages compared to carrying cash abroad.

The Alfardan Exchange Visa Travel Money Card can be pre-loaded with up to five different currencies (Qatari Riyals, US Dollars, Euros, British Pounds and Emirati Dirhams) and can be accessed via the card at a merchant point of sale, or an ATM, in the exact same way a credit card or debit card is used, overseas or in Qatar, wherever Visa is accepted. The new card is now available at any of Alfardan Exchange branches in Qatar, including the Alfardan Centre and Najma Area in Doha, Al Wakrah, New Rayyan, Industrial Area and Al Khor.

The Alfardan Exchange Visa Travel Money Card provides a more convenient and secure way of carrying foreign currency, rather than taking cash when travelling, and has the added advantage of being accepted online. Initial foreign exchange charges are the same as cash and foreign exchange rates are locked in at the time of sale. Lost or stolen cards can be blocked and replaced for customers’ peace of mind and used cards can be easily reloaded for subsequent trips, making them ideal for frequent and business travelers. There is also a secure account website and mobile app, that can be set up by the customer, giving the customer real time access to all the required information about their spending, and also enables them to switch their funds between different currencies, dependent on their travel plans.

Qatar is booming

Qatar Exchange index remains flat:

Qatar Exchange index remained unchanged yesterday closing fractionally higher at 13,682.57 points compared to the previous day’s 13,682.04.

The trading value reached QR867.70m with a volume of 21,709,187 shares changing hands from 7,606 transactions. From the 43 listed companies 20 advanced yesterday, 17 went down and six remained unchanged.

Among the gainers yesterday, Mazaya Qatar share saw a significant change, up 7.14 percent to close at QR24.90 from Tuesday’s QR23.24. The real estate company’s share saw a volume of 8,747,209 share move from 1,618 transactions.

In terms of percentage change Qatar Cinema too gained a lot, up 9.74 percent to close at QR50.70 from QR46.20.

Among losers, telecom operator Vodafone Qatar dropped 2.08 percent to QR21.20 from QR21.65. Widam Food Company dropped QR1.10 when it closed at QR61.80 while Al Meera dropped QR2.80, closing at QR 188.90.

The Peninsula