Business@Qatar_2015_05_28_000000

ISSUE 14 | APRIL 2015

HR POLICIES: HIRING MR OR MS PERFECT DESTINATION: FUNKY HAWAIIAN TOWN

ISSUE 15 | MAY 2015

ARCHITECTURE: BUILDINGS NOT GREEN BUT GOLD DESTINATION: SVALBARD ARCHIPELAGO

ALL EYES ON THE TARGET

OIL NARROWSTRADE SURPLUS

SIGNIFICANT MILESTONE

Qatar achieved a major milestone in reducing carbon emissions with Jetty Boil-off Gas Recovery Project.

PRIVATE BANKCBQ TURNED 40

Qatars first private bank Commercial Bank Qatar organised a series of events to mark its 40th anniversary.

The precipitous fall in trade surplus is rather reflective of the considerable drop in the energy prices.

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Editor-in-chief: Darwish S. AhmedEditor: M.V.A. Kumar AGM Marketing: James JohnFeature Writer: Sami Said Ali Copy Editors: John Varghese, Shemna Bijith, Dr. Sudip N, Pradeep Kumar

With 2022 FIFA World Cup just seven years away, massive infrastructure projects, in preparation for that mega event and also as part of modernisation of the countrys facilities, are going on at a fervent pace. No visitor to Qatar can leave without catching the glimpse of at least one project site or road expansion works. This makes everyone hopeful that in the coming few years, the country is going to be transformed into something phenomenally different from what it was a few years ago.

It would be no exaggeration to say that with multi-billion dollar projects under way, Qatar has become the cynosure of all eyes in the world. Many technologically advanced countries are keen on sharing knowhow and expertise in construction, railways, port development, renewable energy etc through business deals that involve multinational corporations and governments.

Qatars construction sector reportedly boasts a diverse portfolio of projects estimated at $200bn and this has made it extremely appealing for industry professionals and policy-makers worldwide. The recent four-day Project Qatar expo provided ample evidence of how big-ticket companies view Qatar. The exhibition attracted 1,300 exhibitors from 40 countries, offering them the opportunity to showcase their products and services across 21 pavilions.

HE the Minister of Economy and Commerce, Sheikh Ahmed bin Jassim bin Mohamed al-Thani, who inaugurated the event, admitted that Project Qatar remained a very important exhibition in the country, and continued to play a pivotal role in the enhancement of trade and commerce. The diversity of participants was an example that Project Qatar is significant not only to Qatar but also for the Middle East, he added.

While on the one hand, the expo showcased the best that the global construction and building materials industry had to offer, on the other it allowed international exhibitors to witness first-hand massive development projects such as the New Hamad Port. Seizing the opportunity, at least 40 exhibitors visited the New Hamad Port, one of the worlds largest greenfield port developments, spreading across 26.5 square kilometres. This issue brings you details of this crucially important exhibition along with interviews with a banker and educationist. We also have our regular columns along with some new ones, articles on the energy sector, Q1 corporate results and a piece on travel to the polar region.

DARWISH S. AHMED EDITOR-IN-CHIEF

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Project Qatar showcased technology and opportunities

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6 MAY

CONTENTSBusiness @ Qatar

ENGAGING QATARS BUSINESS COMMUNITY

A look at strategicincompetenceManaging incompetent employees is every companys worst nightmare, but it is important to find out if the employee is only de-motivated or truly incompetent, writes R. Ramesh.

All eyes on the targetProject Qatar 2015 exhibition showed beyond doubt that all infrastructure development projects were on track and also the tremendous investment potential generated by them, writes Peter Alagos..

Where white is the new blackTravel writer Anne Z. Cooke took a cruise in a ship to Svalbard Archipelago, close to the globes northernmost point, where she saw the ice pack and a land of polar bears.

2016 models and popular marquesA more powerful, lighter and third-generation, all-new Audi TT 2016 and 2016 Honda City in addition to Rolls-Royce and MINI vehicles sales growth made news.

8 MAY

10 MAY

CONTENTS

Roundup BankingA possible interest rate hike and a report on lending to private sector were under spotlight.

Events Real EstateCityscape Qatar 2015 reaffirmed that all real estate sectors are set for significant expansion.

Roundup Corporate resultsBarwa and QInvest were among companies that reported impressive first-quarter profit growth.

Brand EquityBrand Finances study placed Qatar Airways as the fourth most valuable brand in the Mena.

Roundup TradeThe fall in the countrys trade surplus is reflective of the drop in the energy prices.

Stock ReviewDespite some initial weakness the stock market vaulted, spurred by stronger buying interests.

Product launchesA look at the newly-launched products and services from mobile applications to dining.

News ScanA quick rewind to find out which individuals and companies were in the news last month.

Buildings notgreen but gold!Gold Futuristic Architect and Beyond Sustainable Brand Ambassador Roshancherri explains Gold Architecture which would help society and community to thrive by creating positive energy.

Taking marketingto a new levelThe Department of Management and Marketing, College of Business & Economics, Qatar University, is offering a Master of Science in Marketing with focus in sports marketing.

Significant milestone With the recently inaugurated $1bn Jetty Boil-off Gas Recovery (JBOG) Project in Ras Laffan, the biggest of its kind, Qatar is recovering what used to be wasted fuel.

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Tapping thepotentialInfrastructure development has created a waterfall from large developers and construction firms down to small businesses, says Niranjan Mendonca of Mashreq Qatar.

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EVENTS REAL ESTATE

CITYSCAPE QATAR REAFFIRMS REAL ESTATE EXPANSIONThe Pearl-Qatar of UDC was this years most high-profile project The three-day Cityscape Qatar 2015 concluded recently, reaffirming that all real estate sectors were set for significant expansion in the coming years, particularly residential and retail, as the country continues to invest in large-scale infrastructure and construction projects in the lead-up to the 2022 FIFA World Cup and Qatar National Vision 2030, according to the organisers.

The event, held under the patronage of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani, offered a number of networking opportunities for the industrys key local, regional and international players, which included United Development Company (UDC), United Developers, Al Bandary Real Estate, Dubai Properties and Astad Project Management.

One of the most high-profile projects at this years event was UDCs The Pearl-Qatar. Cityscape Qatar 2015

attracted some 85 exhibitors from over 20 countries, along with 8,000 visitors over three days, the organisers pointed out

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12 MAY

NEWSDomasco delivers Volvo trucks to United ReadymixQGBC launches Qatar

Green Directory

Tarsheed Award for Enviro Global Enterprises man

Domasco, the authorised distributor in Qatar for Volvo and other leading international brands, recently delivered its first Volvos FMX400 8x4R-I Transit Mixers to United Readymix. The all-new Volvo FMX was launched in the GCC region in 2014 and is the latest of the Volvo FMX construction trucks that are packed with innovative solutions, according to a statement.

The Volvo FMX engine delivers the required power for challenging work environments such as construction sites. Volvo FMX trucks have the highest ground clearance within the category and a robust suspension system that combine to guarantee maximum productivity in the most extreme surface conditions, the statement pointed out.

The Qatar Green Building Council (QGBC) has launched a Qatar Green Directory, an online interactive platform, aimed at increasing awareness of sustainable products and services in the state and the region. This was announced at the inaugural Qatar Green Building Conference that opened at the Qatar National Convention Centre. More than 500 delegates from Qatar and around the world are taking part in the two-day conference and exhibition.

The first of its-kind in the country, the directory features a comprehensive search engine and database, providing information and analysis about green building products and services available in Qatar and the region.

Issa al-Mohannadi, Chairperson of QGBC and Qatar Tourism Authority, said the directory would give a big push to sustainability. The directory forms a major part of QGBCs support of Qatar Foundations commitment to deliver the sustainability goals set out in the Qatar National Vision 2030 by raising awareness and promoting best practices in Qatars green building sector.

Dr Alex Amato, Head of Sustainability at QGBC, said: The Qatar Green Directory is a direct outcome of QGBCs innovative research of the green building industry in Qatar. QGBC is working closely with other stakeholders in Qatar and the region to identify the mainstream needs and suggest innovative solutions.

Mohammed bin Hamad al-Badi, of Enviro Global Enterprises, recently won a Tarsheed Award for Best Renewable Energy and Energy Efficiency Initiative 2015, instituted by Kahramaa. The Minister of Energy and Industry HE Dr Mohamed bin Saleh al-Sada presented the award to al-Badi for his efforts in launching Geowash Qatar a 100 per cent eco-friendly premium mobile hand car wash service.

Geowash Qatar uses just two to three litres of water to wash a car. The service is offered from a self-contained mobile cart operating on a 12V car battery using a 100 per cent biodegradable product range. This service targets to achieve water savings within the auto car wash industry in Qatar which on rough estimates could be consuming 3 to 5bn litres per annum. Satish Mehra, General Manager of Enviro Global, was also present at the event.

Issa al-Mohannadi, QGBC Chairperson

Ooredoo recently won the TMT Innovation Award during the TMT Mena Awards 2015 held in Dubai for its innovative partnership with Rocket Internet, a Germany-based incubator for online companies. Ooredoo and Rocket Internet joined forces in August 2014 to create the Asia Pacific Internet Group (APACIG), a partnership that aims to build and fund online start-ups, with ventures ranging from online retail and marketplaces to classified services.

Since its launch, APACIG has become a leading online platform in Asia, building top Internet companies that have continued to grow and expand through 2015. In addition to managing the operations of 14 companies across 15 markets within the Asia Pacific, APACIG has launched four new ventures in the past year: ShopWings, Printvenue, Helpling, and SpaceWays.

It also expanded its online jobs classifieds venture, Work.com.mm, in Myanmar into Sri Lanka, Cambodia, and Nepal under the Everjobs brand. The company has also facilitated the merger of two of Asia Pacifics leading online comparison shopping businesses, PricePanda and Getprice, under the Next Commerce banner with the aim of creating a market-leading network across the region. Ooredoo Group CEO Dr Nasser Marafih said, This award is a testament to the successful partnership we have established with Rocket Internet in 2014.

GCC patent applications portal inaugurated Ooredoo wins TMT Innovation Award 2015

GOIC and Manateq sign MoU to attract added value companies

HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and the Secretary-General of the Gulf Co-operation Council (GCC) recently launched the Hemaya system, an electronic portal for submitting patent applications in the GCC states.

The launching ceremony was part of the activities of the Intellectual Property and Innovation workshop. The minister said there was a great deal of harmony between scientific research and the use of intellectual property and development outputs that limit unemployment and contribute to job creation, not to mention the significant contribution to gross domestic product.

The Gulf Organisation for Industrial Consulting (GOIC) and special economic zone developer and operator, Manateq, recently signed a memorandum of understanding (MoU) to attract added-value companies to the country. Manateq CEO Fahad Rashid al-Kaabi said the MoU will provide Manateq access to GOICs data base, which could help identify industrial investment opportunities in key promising industries in Qatar and the Gulf Co-operation Council (GCC) region.

Gulf Organisation for Industrial Consulting has a huge data base, and they have maintained good communication with a variety of industries in Qatar and the rest of the GCC. We are targeting certain clusters or the so-called added-value companies and encourage them to invest in our economic zones, al-Kaabi told Gulf Times on the sidelines of the opening of the Invest in Qatar 2015 forum held in Doha.

13MAY

14 MAY

NEWS

Qatar Insurance Company (QIC) has won the bid to offer insurance coverage to both the Hamad International Airport (HIA) and the Doha International Airport (DIA). The request for proposal was awarded to QIC by the Civil Aviation Authority in Qatar for one year with effect from May 1, 2015 in respect of property, operational/aviation liability and motor at the HIA and the DIA, for premium amounting to QR9.33mn.

This is the second year in a row that we have won this particular bid, which clearly indicates the level of confidence placed in our services by operators of large projects, QIC Senior Deputy Group President and Chief Executive Ali al-Fadala said.

Although the premium earned by QIC for this coverage will not have a tangible impact on the companys financial outcome, he said it was a source of great pride and honour to provide insurance coverage for the nations assets the two most valuable transportation hubs of Qatar.

Last year, a QIC-led consortium of domestic insurers, had won single project tunnelling and rail construction insurance from Qatar Rail for its Doha Metro project. The national insurance consortium provides construction all risks and third-party liability insurance to Phase 1 of Doha Metro Project. In the first three months of this year QIC Group posted an impressive double-digit expansion in gross written premium.

QIC to offer insurance coverage for Hamad and Doha InternationaI Airports

GWC authorised service contractor for UPS in Qatar

Landmark Group opens 21 new stores at Gulf Mall

Qatars leading logistics provider Gulf Warehousing Company has signed an agreement to become the authorised service contractor for UPS for express parcel service in Qatar from June. The agreement allows GWC to provide UPS products and services, including express parcel delivery, as well as access to the UPS global network in more than 220 countries and territories.

Earlier, GWC Fine Art has unveiled two new trucks specifically designed for fine art movement as part of its commitment to providing institutional and private collectors, museums and galleries with the highest international standards of fine art logistics in Qatar.

Landmark Group recently announced the opening of 21 new stores at Dohas Gulf Mall. This takes the groups consolidated store count in the country to nearly 70 and the total retail area to almost 806,680sqft. Iconic, the groups own brand, is launching its first store in the country at Gulf Mall. The brand is a one-stop fashion destination, offering trendy fashion apparel, footwear, beauty products and a host of accessories for men, women and children. The brand houses internationally renowned brands like Pauls Boutique, UCLA and UMM, among others, according to a statement.

Gulf Mall will also host the groups newest brand, SportsOne, a multi-brand sporting gear retail destination. The concepts wide collection includes sports apparel, footwear, gym equipment, road bikes, racquet sports gear, football gear, golf and indoor/outdoor sport equipment, and caters to the entire familys sporting needs under one roof, the statement added.

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QU in deal with Qatar Rail for project co-ordination

Qatar University (QU) and Qatar Railways Company (QR) signed an agreement to enhance co-ordination and communication for the construction and operation of the Red Line North Rail Station at QU in line with Qatar Rail Development Project (QRDP). The agreement was signed by QU President Prof Sheikha Abdulla al-Misnad and QR CEO Saad Ahmed al-Muhannadi in the presence of several senior officials from QU and QR.

The agreement aims to provide mechanisms for co-operation, co-ordination, communication and exchange of information between both Qatar University and Qatar Railways Company, and any third party.

Both institutions will establish and agree on work content, programme and sequencing, as well as the identification and resolution of issues necessary for the execution and completion of QR activities and other works.

Prof al-Misnad said: We are pleased to co-operate with Qatar Rail in the spirit of co-operation between academic and industrial sectors, and the commitment of both to serve the wider community through various services. This agreement will enhance our efforts to support national development activities as well as the aspirations of society, as the country prepares itself for hosting FIFA World Cup 2022 and other top international events.

Jeweller opens its sixth outlet in Qatar

Msheireb Downtowns Diwan Annex awarded LEED platinum status

Bollywood actress Kareena Kapoor Khan recently inaugurated the 132nd outlet of Malabar Gold & Diamonds at LuLu Hypermarket on D-Ring Road. The new outlet takes the total number of Malabar Gold & Diamonds showrooms in Qatar to six. Present on the occasion were Indian Ambassador Sanjiv Arora, Malabar Group Chairman M P Ahammed, Managing Director - International Operations, Shamlal Ahamed MP, Group Executive Director Abdul Salam K P, other directors of the group and guests.

The new showroom showcases a breathtaking collection of jewellery with the perfect combination of precious metals and stones, a statement issued by the company said.

Msheireb Properties, a subsidiary of Qatar Foundation and Qatars leading sustainable developer, has achieved LEED Platinum status for its Diwan Annex building situated within its flagship development, Msheireb Downtown Doha.

LEED, or Leadership in Energy & Environmental Design, is a green building certification programme that recognises best-in-class building strategies and practices. To receive LEED certification, building projects satisfy prerequisites and earn points to achieve different levels of certification. Certified by the US Green Building Council under the LEED Core & Shell Version 2.0, the Diwan Annex has met and, in some areas, surpassed all requirements in achieving LEED Platinum certification. Msheireb Properties also won recenty two awards as part of Kahramaas National Programme for Conservation and Energy Efficiency Tarsheed.

MAY

16 MAY

NEWSVolvo construction machines and high-tech simulator unveiledQIIB goes l ive on Oracle

Exadata platform

Zanzibar business team visits QC to explore opportunities

Arabian Agencies Company (Araco) has unveiled three new machines from Volvo Construction Equipment, including a state-of-the-art simulator that would provide high-tech training to excavator operators. Araco Sales & Business Development Manager Walid Dowidar described the launching of Volvos EW205D wheeled excavator, MC60C skid steer loader, and the DD25 asphalt compactor as a timely event in the wake of Qatars construction boom.

He added that the highlight of the exclusive viewing of the machines, which was held recently at the Al Gassar Resort, was the unveiling of the Volvo Simulated Operator Training.

Qatar International Islamic Bank (QIIB) recently went live with Oracle Exadata, a comprehensive engineered platform that delivers extreme performance for both data warehousing and online transaction processing application databases, Mannai Trading Company had announced.

The project is aimed at consolidating QIIBs Oracle database into a private database cloud. This, in turn, will streamline administrative and deployment processes, maximise visibility and enable better control of information and data, leading to improved competence, agility and efficiency of QIIBs data infrastructure, the statement added.

The database upgrade and consolidation solution was designed and implemented by Mannai Trading Company to achieve high availability across all layers within QIIBs IT environment. The upgrade and implementation of Oracles comprehensive engineered system was undertaken by Mannai Tradings Software Division, an Oracle platinum partner. Mannai has completed the upgrade and implementation successfully and will also provide post-implementation maintenance and the support required to run the product.

QIIB has honoured Mannai Trading Company and commended its professional services offered during the project.

A business delegation from Zanzibar, headed by its Finance Minister Omar Yussuf Mzee, recently visited Qatar Chamber (QC) to explore the mutual investment opportunities in Qatar and Zanzibar. The delegation was received by QC Vice-chairman Mohamed Ahmed bin Tuwar and QC board member Ahmed al-Ubaidly. The delegation included Peoples Bank of Zanzibar Chairman Abdulrahman M Jumbe and Zanzibar Chamber of Commerce and Industry Chairman Abdulla Abbas Omar and other senior officials and businessmen.

Mzee pointed out that Zanzibar has some promising investment opportunities in tourism, which represent around 27 per cent of its economy, especially fishing and the oil and gas industry. He said the delegation wanted to explore good opportunities in the Islamic banking sector in Qatar and already met the representatives of such banks during the visit.

17MAY

COVER STORY

ALL EYES ON THE TARGETProject Qatar showed beyond doubt that all infrastructure development projects were on track and also the tremendous investment potential generated by them, writes Peter Alagos

The increase in the number of big-ticket companies that participated in the just-concluded Project Qatar expo provided additional assurance for all concerned that the ongoing infrastructure projects would meet their respective target dates. Apart from strengthening bilateral relations between Qatar and other countries, the increase in the number of companies participating in the event, assures the Qatari government that it is heading towards the right direction. Qatar Chamber

Director-General Remy Rowhani told Busineess@Qatar on the sidelines of the opening of the 12th edition of the event. We are assured that these projects are being done by both local and international experts. On the local front, we cant do everything on our own and we certainly need the presence of international experts to get these projects done, Rowhani said at the Qatar National Convention Centre, where Project Qatar was held this year.

This view was echoed by Indian Ambassador Sanjiv Arora, who noted that the number of Indian companies that participated this year had increased to 65 compared to 45 in the previous edition of Project Qatar.

The ambassador said the investment generated by Indian companies that participated in the previous edition of Project Qatar was estimated at around QR100mn.

When asked whether Indian exhibitors would be able to replicate last years

17MAY

18 MAY

investment feat, Arora said: I would say that it would certainly increase substantially, but this is, certainly, another positive development in our bilateral and economic co-operation with Qatar. Economic partnerships are on the top of the agenda of both Qatar and India in terms of our interaction and co-operation.

Rowhani also said that the increase in the number of joint ventures forged between Qatar and foreign firms during Project Qatar sets the pace for future trends.

As we move forward and closer to the 2022 FIFA World Cup, the infrastructure and construction environment becomes more vibrant. And whats important is that this particular event sets a new landmark and milestone for Qatar every year, Rowhani stressed.

IFP Qatar General Manager George Ayache said: With all these infrastructure developments happening, the world has its eye on Qatar. Every year, we see an increase in the participation of many countries, and we hope to attract more of them in the future Project Qatar events as we get closer to the 2022 FIFA World Cup.

He added that next year, IFP Qatar was planning to include more exhibitors from the field of renewable energy. This year, there were a few exhibitors from that field, however, he said they were contemplating about collaborating with a Europe-based organiser to bring Urban Tech and hold it alongside Project Qatar. Urban Tech specialises in renewable energy, smart cities, and sustainable living, in general, Ayache informed. HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani, who inaugurated the event, said: Project Qatar remains a very important exhibition in the country, and continues to play a pivotal role in the enhancement of trade and commerce. The diversity of participants is an example that Project Qatar is significant not only to Qatar but also for the Middle East.

Project site visitsProject Qatar not only showcased what the global construction and building materials industry had to offer, but also allowed international exhibitors to witness firsthand Qatars massive development projects such as the New Hamad Port.

At least 40 exhibitors visited the New Hamad Port, one of the worlds largest greenfield port developments, spreading across 26.5 square kilometres. What makes Project Qatar unique is its location in one of the most vibrant economies and construction markets worldwide. By visiting the New Hamad Port project, I witnessed the rapid development of one of Qatars key infrastructure projects first hand. The site tour gave me a chance to see technology and theory in practice and to strategically think about future business, one of the exhibitors said.

Exhibitor interestExhibitors, representing a wide range of leading companies and brands from across the world, along with a diverse group of industry professionals and experts, expressed keen interest in Qatars ongoing infrastructure projects.

Another group of international exhibitors also visited the Mall of Qatar construction site. With a projected footfall of 20mn each year, the mall will be among the leading destinations for retail, leisure, and entertainment in Qatar.

19MAY

Such site visits enable international exhibitors to explore major construction developments in Qatar firsthand, serving as an opportunity to contextualise the knowledge and technology that were featured at the exhibition. Aside from site tours, visitors commended the variety of technologies showcased across Project Qatars exhibition halls, and emphasised the value of the B2B matchmaking activities, which strengthened their professional networks, and provided insight into industry trends by engaging with experts and policy makers. During the entire duration of the event, almost 300 pre-arranged B2B matchmaking meetings were held, all of which enabled visitors and exhibitors to expand their operations or achieve new business opportunities. During my first visit, I have seen state-of-the-art technology, and connected with peers, from across the world. The knowledge and contacts gained at Project Qatar known as one of the worlds leading construction exhibitions in the ever-growing Gulf region will benefit my company, and help with securing business deals in Qatar and elsewhere, said one B2B participant.

The Project Qatar Business Intelligence Series also featured six specialised conferences, which included HVACTech Qatar 2015 and Future BIM (Building Information Modelling) Implementation. The first day of the workshops kicked off with three sessions: The ISO 9001 revision in more detail and ISO 14001: 2015 Revision and Transition by the British Standards Institution Group Middle East, Main Issues facing construction companies a banking perspective by Qatar Development Bank, and An overview of the GCC Building Materials

Industry and Manufacturing Investments Opportunities in Qatar by the Gulf Organisation for Industrial Consulting (GOIC).

ConferencesMeanwhile, the HVACTech conference brought together private and government project stakeholders, along with the latest case studies demonstrating how heating, ventilation and air-conditioning (HVAC) advancements can best be applied to answer challenges in Qatars construction environment. Currently air-conditioning accounts for 70 per cent of the total electricity consumption in Qatar, making sustainable cooling solutions a top priority for the country, impacting both end-users and project owners seeking greater efficiency and cost savings. Hot topics also included energy optimisation and conservation, issues relating to HVAC and civil defence approval, building automation and energy management systems and new approaches to improve indoor air quality. On Future BIM Implementation, the agenda included the current state of BIM implementation in the region, information about upcoming projects that are implementing BIM, new business opportunities, and exploring emerging technologies. The nature and size of many domestic projects is encouraging developers to incorporate BIM to facilitate ambitious building schedules. From transportation systems to sporting stadiums and other infrastructure elements, BIM enables architects, engineers, owners, and construction firms to use 3D digital models to collaborate and support building projects throughout their lifecycle, ensuring that projects are delivered to the required specifications on schedule and within budget. Another conference was LightingTech, which celebrated its second edition at Project Qatar 2015.

Project Qatar not only showcased what the global construction and building materials industry had to offer, but the event also allowed international exhibitors to witness firsthand Qatars massive development projects such as the New Hamad Port.

HE the Minister of Economy and Commerce, Sheikh Ahmed bin Jassim bin Mohamed al-Thani seen at the Project Qatar 2015 expo

20 MAY

Driven by the enormous amount of construction and development that Qatar is currently undertaking, innovation in lighting technology is playing an increasingly important role. Led by green objectives, design needs and energy efficiency goals, advances in lighting technology are providing greater incentive to developers and project principals to utilise lighting effectively in urban, corporate and residential developments, roads, highways and in the public realm. The topics discussed during the conference included storing and using individual localised solar generation for highway lighting, as well as the introduction of more efficient LED lighting systems. It also covered topics on the latest government regulations, industry standards and certifications, as well as the impending needs of the lighting industry.

Another workshop was dedicated to heat management, and drew from the expertise of Dr Rahma Salim of Hamad Medical Corporation

Ashghal Building Affairs focused on a rigorous approach to programme delivery, sustainability and health safety and security for its portfolio of projects, which would seem to tie in with the objectives of Project Qatar, Bartle-Tubbs said. Given the success of previous years, Project Qatar 2015 had coincided again with two concurrently held events. Visitors had the chance to delve into construction technology as well as building materials after attending Qatar Stone Tech 2015, the 4th International Stone and Stone Technology Show, and Heavy Max 2015, the 12th International Exhibition for Heavy Machinery.

Concurrent eventsCovering issues at the core of the industry, the two concurrently held events had equipped participating professionals with insights for their operations over the long term, regardless. With major projects in Qatar, such as the $5.5bn deep water seaport, roadways worth $20bn as well as eco-friendly stadia costing an estimated $32bn, Qatar Stone Tech 2015 and Heavy Max 2015 addressed the technologies,

Variety of workshops

This year, IFP Qatar has collaborated with Qatar Chamber for workshops on a wide range of trending industry themes through the Project Qatar Workshop Series. One of the workshops featured Thani al-Zarraa, Senior Engineer at the Supreme Council for Delivery and Legacy (SCDL), who spoke on some of the most critical developments and opportunities in Qatars construction sector.

(HMC). Both workshops served to deepen participants knowledge about trending industry topics, with an emphasis on commercial and educational aspects of construction. The workshop featuring Colin Bartle-Tubbs, senior advisor at the Public Works Authority (Ashghal), and Mark Saville, Health & Safety co-ordinator at Ashghal, addressed programme management as well as Ashghals approach to Health & Safety and sustainability.

21MAY

equipment and machinery critical to the growth of Qatars construction sector and future business.

Insight into event In order to further enhance the exhibition experience, Project Qatar 2015 featured an improved mobile app, which provided a detailed insight into the event, including the exhibitors list, sponsors, floor plan, and visitors registration form.

Considering that Qatars construction sector boasts a diverse portfolio of infrastructure projects worth an estimated $200bn, it will retain its appeal to industry professionals and policy-makers worldwide. Through its focus on the latest technology, and as a gateway to the Gulf, Project Qatar will remain integral to the countrys vibrant economy, advancing its development, said Albert Aoun, owner of IFP Group. Overall, Ayache described this years event as a successful gathering of

experts and major stakeholders in the construction industry. Over the course of four days, Project Qatar 2015 transformed the QNCC into an international construction and trade hub, allowing more than 2,000 companies and brands to spread over 41,500sqm of exhibition space. Under the patronage of HE the Prime Minister and Minister of Interior, Sheikh Abdullah bin Nasser bin Khalifa al-Thani, Project Qatar 2015 attracted 1,300 exhibitors from 40 countries, and showcased their products and services across 21 pavilions, thus showing the persistent growth of the exhibition. Ayache stressed. He added, Project Qatar 2015 has welcomed thousands of professionals from around the world. Once again, we provided insight into the latest technology, informed about important industry trends through our educational and trade-related features, especially the new workshop series. The event also enabled visitors

and exhibitors to strengthen their professional networks. The number of deals discussed during our many B2B meetings is evidence of the value Project Qatar generates. One of the exhibitors, Sabine Geiter, Head of Marketing & Communications at MAN Truck & Bus Middle East and Africa FZE, said, At Project Qatar 2015, we exhibited our latest construction truck as part of our innovative commercial vehicle portfolio. The exhibition gave us a good opportunity to network and share our knowhow with our customers and suppliers and to strengthen our position in the Qatari market.

Importance of constructionAyache was also confident that in the coming years, the construction sector would remain central to Qatars economy, as less than half of the countrys GDP is now derived from hydrocarbons. Industry professionals worldwide have recognised the range of opportunities available across the Gulf, and Project Qatar remains committed to provide the knowledge and technology enabling innovation and development. The conclusion of this 12th edition is the onset of further projects and major opportunities, he added

Over the course of four days, Project Qatar 2015 transformed the QNCC into an international construction and trade hub, allowing more than 2,000 companies and brands to spread over 41,500sqm of exhibition space.

22 MAY

ROUNDUP CORPORATE RESULTS

FIRMS GET OFF TO GOOD STARTBarwa Real Estate Company, QInvest, Barwa Bank, GWC and Aamal were among companies that reported impressive first-quarter profit growth

Most of the listed companies including banks reported double-digit growth in year-on-year first-quarter net profit with only two or three companies reporting a drop in profit. Barwa Real Estate Company reported more than 12-fold jump in net profit to QR3.25bn in the first three months of this year helped by one-off capital gains on sale of properties. Profit on sale of properties stood at QR2.7bn, which constituted more than 83 per cent of the net profit for the period.

Faster growth in rents and dividend income led Ezdan Holding Group to report a 13 per cent jump in net profit to QR522.49mn in the first three months of this year. Rental income grew 20 per cent to QR362.94mn,

dividend income from available-for-sale financial assets by 14 per cent to QR183.62mn and other net gain on sale of available-for-sale financial assets by 1 per cent to QR52.15mn.

United Development Company (UDC) reported an eight per cent jump in net profit to QR261.8mn in the first quarter (Q1) of this year, supported by robust operating earnings.

I am pleased with our performance as we continue to invest in our capabilities and grow our ranks with the aim of enhancing our market position while we pursue our long-term strategic initiatives, UDC Chairman and Managing Director Turki al-Khater said.

Margin expansion and robust performance of its realty development led Aamal Company to report a 30 per cent jump year-on-year in net profit to QR115mn in the first three months of this year. Net underlying profit margins (excluding share of profits of equity accounted for investments in associates and joint ventures) improved to 16.5 per cent versus 13.3 per cent in the previous year period.

TelecomMeanwhile, a double-digit increase in earnings from Qatar and Oman helped Ooredoo Group report a consolidated net profit of QR501mn in the first quarter (Q1) of 2015.

23MAY

Ooredoo Qatars net profit rose 88 per cent to QR616mn on 18 per cent rise in Ebitda (earnings before interest taxes depreciation and amortisation) to QR980mn and sale of investments. Revenues grew 16 per cent to QR1.99bn and customers by 12 per cent to 3.3mn. However, consolidated net profit fell 43 per cent on stable revenue of QR8.04bn; even as customer base grew 14 per cent.

BankingQNB Group has reported a 10 per cent jump in its net profit to QR2.7bn in the first three months of this year on higher interest and non-interest earnings as well as robust gains from foreign exchange. Corporate

banking contributed QR1.8bn or 67 per cent to net profit, asset and wealth management QR115.87mn or 4 per cent and international banking QR763.21mn or 28 per cent during the first quarter.

Commercial Bank made a good start to the year at the operating level, by posting a first-quarter net profit of QR462.5mn. The Q1 net profit increased by 19.5 per cent compared to QR387mn achieved in the fourth quarter of 2014.

However, due to higher provisioning, the first-quarter financial results represented a 15.7 per cent drop in profitability compared to the same period in 2014, the bank said. The

premier banks total assets stood at QR116.1bn in the first quarter, up 1.8 per cent on the same period last year.

Driven by a strategy to innovate, diversify and capitalise on market synergies, Doha Bank maintained its strong performance and posted a first-quarter net profit of QR420mn, up 5.2 per cent on the same period last year.

QIB posted a first-quarter net profit of QR400mn, up 19 per cent on the same period in 2014. The banks total assets stood at QR99bn in March, up 19 per cent compared with last year, which QIB said was driven by a continued growth in the core investing and financing activities.

The banks financing activities reached QR65bn in March, which shows an increase of QR15bn (31 per cent) compared to the first quarter in 2014. Customer deposits registered a growth of 21 per cent compared to end-March 2014 and now stand at QR71bn, allowing the bank to achieve a financing to deposit ratio of 91 per cent.

Masraf Al Rayan posted a first-quarter net profit of QR511mn, up 18.1 per cent on the same period in 2014. The banks total assets stood at QR83bn in March compared with QR69.3bn in the same period last year, indicating a growth of 19.9 per cent.

Turki al-Khater UDC Chairman and Managing Director

Sheikh Abdulla Ooredoo Chairman

Khalifa Abdulla Turki al-SubaeyQIC Group President and CEO

24 MAY

With each of its business unit in Qatar and abroad registering revenue growth, Al Khalij Commercial Bank (Al Khaliji) posted a first-quarter net profit of QR144.4mn, up 32 per cent on the same period last year. The banks total assets reached QR53bn in the first quarter, up 21 per cent on Q1, 2014 and 3 per cent on Q4, 2014.

Ahlibank posted a first quarter net profit of QR169.7mn, up 12.5 per cent on the same period last year. Total loans and advances stood at QR21.4bn in the first quarter, up 1 per cent on December, 2014. The return on average assets stood at 2.31 per cent compared with the ROAA of 2.15 per cent for the year that ended in 2014, Ahlibank said.

Registering remarkable growth across various portfolios, QIIB posted a first-quarter net profit of QR212.3mn compared with QR204.1mn in the same period last year. The leading Islamic banks total assets stood at QR37bn in the first quarter of this year compared with QR34bn in Q1, 2014. Customer deposits grew by 1.7 per cent and reached QR25.1bn in the first quarter compared with QR24.7bn in the same period in 2014.

Qatar First Bank (QFB), which is seeking listing on the domestic bourse, has reported 13 per cent jump in net profit to QR158.3mn in 2014. The bank approved 8 per cent cash dividend to shareholders at the annual general assembly meeting in Doha.

QFB, in its sixth full year of operation, has invested a total of QR473mn

The banks financing activities increased to QR62.8bn in the first quarter of this year compared to QR45.6bn in Q1, 2014. Investments totalled QR14.1bn in March, which indicates a growth rate of 1.7 per cent. Customer deposits reached QR60.8bn in March compared with QR52.3bn in the first quarter of last year. Shareholders equity reached QR10.5bn in March compared with QR9.8bn in the same period last year.

Registering growth across all segments, Barwa Banks 2014 net

Tamim Hamad al-Kawari QInvest Chief Executive

profit reached QR713mn, up 41.5 per cent on 2013. Total assets grew 14 per cent and reached QR38bn, driven mainly by strong growth in the banks financing portfolio, which grew from QR19.3bn to QR23bn, an increase of 19 per cent over 2013.

Barwa Banks customer deposits stood at QR21.9bn at end-2014 compared with QR21.2bn in 2013, representing a 3 per cent increase. Earnings per share (EPS) were at QR2.40 in 2014, up 43 per cent on the previous year, the bank said.

25MAY

in 2014 and QR2.4bn since its inception in 21 transactions across various sectors including energy, financial services, industrials, real estate and healthcare across the Gulf Cooperation Council, Middle East and North Africa, Turkey and the UK.

QInvest, Qatars leading investment bank, reported a 57 per cent jump in net profit to QR27.21mn in the first quarter (Q1) of this year, supported by its investment banking, principal investments and asset management. The lenders revenue for Q1 2015 was up 27 per cent to QR75.36mn.

All three of our key business lines investment banking, principal investments and asset management have continued to grow and prosper. We anticipate an active pipeline of activity for the remainder of 2015 and I am confident that we will reach our capital deployment targets for this year, QInvest Chief Executive Tamim Hamad al-Kawari said.

QInvests structured finance business closed about QR364mn new deals in both developed and emerging markets. Additionally, its mergers and acquisitions team is active on a number of buy-side and sell-side mandates across multiple industries and geographies for both family offices and institutional investors.

In Q1 2015, the real estate team secured yielding equity opportunities in the German retail market, additional mezzanine debt transactions in the US and new equity transactions in the Gulf Cooperation Council, the UK and the US are continually being assessed.

InsuranceQatar Insurance Company (QIC) Group posted an impressive double-digit expansion in gross written premium to QR1.92bn in the first three months of this year despite a highly challenging environment and softening of insurance rates globally.

The net underwriting result for the quarter was QR248mn, an increase

of 11 per cent on the previous year, a spokesman of the insurer said. Despite a challenging regional investment environment, the groups net profit for the first quarter of 2015 amounted to QR306mn, down 12 per cent year-on-year. Investment income and other revenues stood at QR216mn compared to QR273mn in the previous year period.

Total assets were valued at QR17.82bn, comprising investments to the tune of QR6.2bn, cash and cash equivalents of QR3.9bn, insurance and other receivables of QR3.47bn and reinsurance contract assets worth QR3.34bn.

RetailHigher sales income and shops rents as well as better cost management helped Al Meera Consumer Goods Company register 10 per cent jump in January-March net profit to QR43.09mn. Sales rose 11 per cent to QR564.15mn but cost of sale

grew 10 per cent to QR472.49mn; nevertheless there was a 17 per cent jump in gross profit to QR91.66mn, according to its financial statement.Shops rental income surged 13 per cent to QR11.51mn, which masked the 41 per cent plunge in other income; thereby helping Al Meera report 6 per cent rise in operating income to QR115.12mn.

In the first quarter of 2015, Al Meera opened branches in Muaither and Azizia, and did the soft opening for the Muraikh and Gulf Mall. It is also opening six other branches this year in Jeryan Nejaima, Thakhira, Al Wakrah, Al Thumama, Al Wajba and Rawdat Ekdeem.

In addition, Al Meera is currently constructing 14 new shopping centres in Sailiya North, Bu Sidra, Al Wakrah 2, Umm Salal, Leabaib 1, Leabaib 2, Rawdat Aba El-Herran, Azghawa, Al Khor, Um Qarn, Rawdat Al Hamama, Jeryan Junaihat, Al Sailiya, and Ain Khaled.

26 MAY

Despite its expansion, the companys general and administrative expenses were up mere 0.45 per cent to QR64.27mn. However, finance costs more than quadrupled to QR0.73mn. Total assets were valued at QR1.99bn comprising current assets of QR0.81bn and non-current assets of QR1.18bn.

IndustriesIndustries Qatar posted a first-quarter net profit of QR951mn, down 40 per cent on the same period last year. The drop in the first-quarter net profit was a result of a weak product prices following the significant fall in global oil prices, Industries Qatar said.

Industries Qatar is the holding company of Qafco, Qapco, Qatar Steel and Qafac with a wide range of petrochemical, fertiliser and steel products. Despite the drop in the first-quarter net profit, IQs sales volumes went up by more than 20 per cent. It said the group recorded commendable results across all segments during the quarter despite facing significant challenges due to an unprecedented 50 per cent drop in global oil prices over the preceding 12 months.

The underlying business nevertheless grew, with like-for-

like production levels improving by almost 80,000 tonnes, over the last nine months, IQ said. The company earned revenue of QR1.3bn in the first quarter, down only 0.8 per cent compared to the first quarter of the previous year.

However, on a like-for-like basis, management reporting revenue was QR3.8bn, a decrease of 9.4 per cent, compared with the same period in 2014. This year-on-year reduction in revenue, IQ said, was primarily driven by a significant reduction in selling prices across all segments following the oil price decline that began in Q4, 2014.

Qatar Industrial Manufacturing Company (QIMC) has reported a 15 per cent fall year-on-year in net profit to QR39.04mn in the first three months of this year on lower sales and investment income.

Sales fell 3 per cent to QR82.25mn but cost of sales rose 3 per cent to QR68.72mn, resulting in a 23 per cent decline in gross profit to QR13.53mn. Other income was down 2 per cent to QR1.79mn; while general and administrative expenses expanded 1 per cent to QR13.34mn; translating into a 68 per cent plunge in operating profit to QR1.98mn.

Qatar National Cement Company has reported 3 per cent fall in net profit to QR125.76mn in the first three months of this year despite higher sales. Sales rose 4 per cent to QR292.08mn but cost of sales grew faster at 10 per cent to QR164.59mn, leading to a 2 per cent decline in gross profit to QR127.48mn.

The Qatar Electricity and Water Co (QEWC) also reported a15.7 per cent rise in first-quarter net profit. The state-run firm made a profit of QR346mn ($95.06mn) in the three months to March 31, up from QR299mn in the prior-year period, according to a statement to the Qatar Stock Exchange.

Others Aided by robust core earnings, Milaha reported 4 per cent rise in net profit to QR365mn in the first quarter (Q1) of this year. Operating revenues grew 12 per cent to QR786mn and operating profit by 2 per cent to QR279mn, the company said.

Strong year-on-year growth in the core businesses more than offset a decline in the returns from Milahas investment portfolio, a company spokesman said. Each of Milahas core segments maritime and

An aerial view of Qapcos facilities in Mesaieed

27MAY

logistics; gas and petrochem as well as offshore improved their combined bottom line by 71 per cent relative to the first quarter of 2014.

Qatar Gas Transport Co (Nakilat), one of the worlds largest shippers of liquefied natural gas, posted a 7.7 per cent rise in first-quarter net profit. The company made a net profit of QR222.4mn ($61.1mn), it said in a statement. This is up from QR206.5mn a year earlier. QNB Financial Services forecast Nakilat would make a quarterly net profit of QR233.5mn. Nakilats quarterly revenue was QR873.2mn, up from QR860.2mn in the corresponding period in 2014.

Gulf International Services (GIS) has posted a first quarter net profit of QR355.7mn, compared with QR188.6mn in the same period last year, the company said. The companys total assets stood at QR10.9bn in Q1, compared with QR10.8bn in December last year. The earnings per share (EPS) were QR1.91 in the first quarter of this year compared with QR1.01 in the same period last year.

Qatars leading logistics provider Gulf Warehousing Company (GWC) has made a strong start this year, with its first-quarter net results reaching QR40mn, up 40 per cent on the same period in 2014. This strong push forward was reflected in the companys revenue streams, with total revenues peaking at QR196mn in Q1, up 28 per cent on the same period last year.

Mannai Corporation has posted a first quarter net profit of QR165.2mn, up 10 per cent on the same period last year. Revenue increased 14.33 per cent compared with the same period as last year. Earnings per share rose to QR3.62 in the first quarter from QR3.29 in the same period last year. Return on Equity increased to 32.2 per cent compared to 24.3 per cent for the year that ended in December, 2014.

Capital gains from investment properties and better cost management helped Islamic Holding Group report a 16 per cent jump in net profit to QR3.42mn in the first three months of this year. Net brokerage and commission earnings

rose 2 per cent to QR5.22mn, according to its financial statement filed with the Qatar Stock Exchange.

Lower incomes and higher expenses led Dlala Brokerage and Investments Holding Company to report a 62 per cent plunge in year-on-year in net profit to QR6.43mn in January-March this year. Net brokerage and commission income plunged 21 per cent to QR11.03mn, investment income by 66 per cent to QR2.85mn and interest income by 11 per cent to QR0.33mn. Thus, net operating income fell 42 per cent decline to QR14.21mn.

Higher operating earnings and rental income helped Qatar Cinema and Film Distribution Company register 2 per cent gain year-on-year in net profit to QR4.28mn in the first three months of this year. Operating income rose 6 per cent to QR3.27mn; while direct costs fell 3 per cent to QR3.14mn, according to its financial statement. Thus, the company reported QR0.13mn gross operating profit compared to a loss of QR0.16mn in the previous year period

28 MAY

INTERVIEW BANKING

TAPPING THE POTENTIALInfrastructure development activity in Qatar has created a waterfall from large developers and construction companies all the way down to small businesses, Niranjan Mendonca of Mashreq Qatar tells M.V.A. Kumar

Mashreq has been providing banking and financial services to millions of customers and businesses since 1967. One of UAEs leading financial institutions, it has a growing retail presence in the region including Qatar, Kuwait, Bahrain and Egypt.

Business@Qatar met Niranjan Mendonca, Head of Retail Banking at Mashreq Qatar, to find out more about what it plans to do in Qatar as the country hits the fast lane of growth in almost every sphere. The excerpts:

With the FIFA World Cup just seven years away and so many ongoing and newly announced projects what opportunities does Mashreq Qatar see as a lender?

From a retail banking perspective, the World Cup presents a wide range

of opportunities. World Cup-related infrastructure projects are

generating thousands of new employment opportunities. All the new employees coming to Qatar need financial services, starting from basic facilities

like a bank account and ATM/debit card, all the way to auto

loans, personal loans, overdrafts, online/mobile banking, insurance and wealth

management solutions.

On the business side, the boost in infrastructure development activity creates a waterfall from large developers/construction companies all the way down to small businesses. Mashreq business banking provides SMEs with branch banking solutions, state-of-the-art online banking as well as a wide variety of financing solutions. Whether an SME needs a letter of credit for QR 20 million, a fast cash loan of QR2 million or a quick overdraft of QR500,000 with minimum documentation requirements, Mashreq is ready to help.

Niranjan MendoncaMashreq Qatar

29MAY

Your bank is an active partner in QDBs Al Dhameen programme. How is lending to SMEs different from lending to large established companies?

As compared to large companies, lending to SMEs is different, since SMEs often dont have a track record spanning several decades. In certain cases, SMEs that are extremely profitable may not have professionally managed accounts or financial statements. Its also not unusual to come across SMEs that have grown their business by 15 times in just two years, while thats something that rarely happens with large established companies. SMEs also rarely exhibit separation of ownership and management, which is usually the case in large companies.

The role for the bank is to be able to gauge the businesss ambitions, identify owner/manager skills, adjust for any shortcomings in financial reporting, assess repayment ability and partner with the SME in their growth journey.

Which sections of the banks clientele have benefited the most from online banking?

Since our online banking platform offers the convenience of banking any time/anywhere, we have seen our online banking usage cutting across all customer segments. An individual who has a salary account and credit card/loan with us can go online anytime to check their balance, review account activity, activate the credit card, change limits on their spouses supplementary card and much more all without leaving the comfort of their home/office.

Priority banking customers with large wealth management relationships with us can, in addition to everything already indicated above, open fixed deposits online, check the coupon payments made on investments and also get in touch with their dedicated relationship manager.

Businesses on the other hand can conduct a detailed review of statements, reconcile cheques/cash deposited, request for issuance of letter of credit or a letter of guarantee, check due dates/amounts and much more.

How successful has Mashreq Qatar been in implementing Qatarisation?

Mashreq has always approached Qatarisation not only as a government requirement, but as Mashreqs way of contributing to the development of banking skills and expertise in the country, in which we have seen great success.

Mashreq has an exclusive forum of Qatari employees which is used as a platform for all Qatari employees to raise suggestions, ideas and even issues to management. Our Mashreq Learning Systems Centre of Excellence routinely provides Qataris (and other employees) with development, training and seminars/courses on banking technologies, customer services, interpersonal relationships, risk management, finance, strategic management and much more.

We also offer a scholarship programme where the bank pays for the education of Qataris at university, with a guaranteed job offer upon completion of university and, subject to performance, fast-track career growth at Mashreq. This programme has helped attract exceptional talent, the latest example being a female staff member who interned with us, went to university as part of our programme and based on exceptional performance has already been promoted to branch manager.

We value our Qatari employees and look forward to attracting and developing more Qatari talent in the future.

Mashreq employs Qataris at various levels across the bank, including branches, Business Banking, Corporate Banking, Operations, Risk Management, Human Resources, Marketing and many other departments in the bank.

Please tell us more about the objectives in setting up Mashreq Learning Systems Centre for Excellence?

Mashreq has always been a firm believer of practical learning and knowledge sharing. So for example, we ensure staff attend training that are linked to their roles from time to time, this way information is constantly refreshed and we adapt to the growing and ever-changing customer needs and market changes. Mashreq Learning Systems Centre for Excellence (MLS) is our state-of-the-art individual development facility located at TV Roundabout, Doha.

Mashreq believes in constant upskilling, training and development of our staff. The MLS Centre for Excellence creates and hosts regular programmes to enhance and develop not only the technical banking skills of the staff but also their personal development as well. We are proud to have an in-house training facility that reflects the banks commitment to the constant development of its staff.

The MLS Centre of Excellence is Mashreqs way of contributing to the growth and development of the workforce in Qatar and advancing banking and management skills

30 MAY

ROUNDUP ENERGY

SIGNIFICANT MILESTONE IN CUTTING CARBON EMISSIONSJetty Boil-off Gas Recovery Project, the worlds biggest plant of its kind, was inaugurated recently

Qatar is gathering even more gas with a $1bn Jetty Boil-off Gas Recovery (JBOG) Project in Ras Laffan that is recovering what used to be wasted fuel. Starting in October, the plant has recovered gas from over 500 ships.

We dont have an expectation of an economic return from the project, but we will benefit from the recovered gas, Saad Sherida al-Kaabi, Qatar Petroleums Chief Executive Officer, said at the inauguration ceremony for the project.

The JBOG has capacity to produce about 100mn cubic feet of natural gas a day, or the equivalent of 600,000 tonnes a year of LNG, making it the worlds biggest plant of its kind. Gas that used to be burned off or lost through evaporation when fuel was loaded on ships is instead being sent to Qatars 14 LNG production plants, which had a combined output of about 77mn tonnes last year.

The JBOG Project represents a significant milestone in Qatars efforts to reduce carbon emissions from its

liquefied natural gas (LNG) industry, Qatargas CEO Sheikh Khalid bin Khalifa al-Thani said. The project will result in a 90 per cent reduction in current flaring at Ras Laffan LNG loading berths, equivalent to annual greenhouse gas (GHG) savings of 1.6mn tonnes of carbon dioxide (CO2), which is the same amount of annual GHG emissions of 175,000 vehicles, he informed.

He also said the JBOG project will provide savings of 29bn standard cubic feet (bscf) per year flaring reduction, which is enough gas to produce 750MW to power 300,000 homes. Environmental protection and sustainable development of our natural resources is a key requirement of Qatargas direction statement, and is in line with the wider goals of the Qatar National Vision 2030.

The Qatar National Development Strategy 2011-2016 calls for halving gas flaring to 0.0115bn cubic metres per million tonnes of energy produced from the 2008 level of 0.0230bn cubic metres per million tonnes, and our

JBOG facility is the main reason that Qatargas has achieved this target well before 2016, he explained.

According to Sheikh Khalid, the project was designed to recover the boil-off gas from simultaneous multiple ship loadings at Ras Laffan, the worlds largest LNG export terminal and the only facility where six LNG ships can be loaded simultaneously.

As the -160C LNG is loaded onto the ships, around 1 per cent of the LNG evaporates (boil-off gas) due to temperature difference between the cold LNG and the warm ship tank. This boiled-off gas is flared at the berth because there is no outlet for the low-pressure gas, he further explained.

He added that the boil-off gas from the ships will then be transported to a central compressors area where the gas is compressed and then sent back to the LNG plants to be used as fuel gas or converted into LNG.

The entire boil-off gas train is the largest in the world. Today, there has never been an LP boil-off gas compressor ever built requiring such large volumes at such a low suction pressure, Sheikh Khalid said.

31MAY

Simulator tech l icence

ExxonMobil Research Qatar (EMRQ) said ExxonMobil has awarded a global commercial licence for Immersive 3D Operator Training Simulator technology to co-developer EON Reality.

The innovative technology incorporates ultra-realistic, multi-angle immersive virtual reality for training process operators and engineers in oil and gas production, processing and transportation facilities. EMRQ in a release said the technology enables effective training to take place in a safe and controlled environment.

The new technology also supports the development of simulators that combine dynamic process training and fully functional 3D models. These complex models include interactive 3D objects such as rotating valves, push-buttons and active gauges; natural gestures and voice commands; and enhanced 4D sensory conditions including tactile feedback, odours, vibration and wind simulation.

The dynamic process simulator uses actual plant operating conditions to

create realistic training scenarios for critical procedure execution, upset condition training, and emergency response training. Scenarios also can be created for workforce development, competency assurance, project commissioning support, new hire orientation, and more efficient turnaround/shutdown planning.

A full-scale simulator of an actual gas processing facility in Qatar has been operational since 2013, providing realistic training on more than 300 interactive control devices in six gas processing units.

The Immersive 3D Operator Training Simulator provides a realistic 3D virtual environment that is a very close replica of an operating plant, said Sara Ortwein, President of ExxonMobil Upstream Research Company.

These simulators are highly effective in training workers on how to prevent incidents, while teaching them to respond quickly and appropriately should any occur. This technology, developed in co-operation with EON Reality, is another example of how ExxonMobil continues to support research and safety, health and environmental protection across its global operations.

The Immersive 3D Operator Training Simulator will change how operators and plant crews train on existing facilities and even before a facility is operational, said Mats W Johansson, CEO, EON Reality. Working with ExxonMobil, we have created an immersive training tool to ensure that entire plant operation teams have practised actual procedures together on a virtual facsimile of their plant. This truly is a flight simulator for plant operations.

The Immersive 3D Operator Training Simulator technology is the latest demonstration of how scientists and researchers at EMRQ are committed to helping Qatar and other global ExxonMobil partners supply the world with much-needed energy, while improving environmental and operational performance of production facilities.

EMRQ opened its facility at the Qatar Science & Technology Park in 2009 to conduct research in areas of common interest to Qatar and ExxonMobil.

Scientists and researchers at EMRQ continue to advance projects in the areas of environmental management, water reuse, LNG safety and coastal geology

32 MAY

ROUNDUP BANKING

QATAR MAY FOLLOW FED ON INTEREST RATE HIKEA possible interest rate hike and a report on lending to private sector were under spotlight along with Commercial Bank, Qatars first private bank, which marked its 40th anniversary

According to a Samba Financial Group report Qatar Central Bank (QCB) may raise deposit rate in line with Fed policy, with a lag of a month or two. It expects the US to raise rates this year, despite a weak global inflationary picture.

Any QCB decision on deposit rate hike will have obvious implications for the cost of funding, Samba said in its report.

However, given past divergence a matching rate hiking cycle is not automatic, Samba said.

Given the riyals peg to the dollar, the QCB will monitor the Feds rate decisions closely, the report said.

According to Samba, the global outlook for 2015 is one of significant divergence amongst both developed and emerging markets (EM).

The US will raise rates later this year on the back of solid growth, despite a global environment of low growth and weak inflation.

This will contrast with monetary loosening in Europe, Japan, and many EMs (emerging markets), Samba said.

Private sector lendingAccording to the report, Qatar banks lending to the private sector has remained buoyant and is expected to support double-digit credit growth over the next couple of years as activity accelerates in the run-up to FIFA 2022.

But, according to Samba Financial Group, overall lending in Qatar has been soft of late, running at around six per cent mainly due to a pull-back in credit to the public sector.

The composition of credit growth shows loans to contractors and for consumption expanding at a healthy rate in Qatar, Samba said in its latest report.

Loans, deposits show growthQatar banking sectors loan book grew 3.2 per cent month-on-month in March after growing by 1.7 per cent MoM in February, QNB Financial Services (QNBFS) has said in an update.

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Deposits followed suit and gained 3.1 per cent MoM (+3.3 YTD) in March, QNBFS said. Public sector drove total credit growth with a gain of 4.6 per cent MoM (down 1.3 per cent YTD).

Moreover, public sector deposits ticked up by 1.3 per cent MoM, but were flattish, year-to-date (YTD). Thus, the loans to deposit ratio (LDR) remained at 109 per cent in March.

The public sector deposits climbed up 1.3 per cent MoM for March 2015 compared with a robust growth of 5.2 per cent MoM in February. Delving into segment details, the government institutions segment (representing 59 per cent of public sector deposits) declined by 6.6 per cent MoM (+4.2 per cent YTD) in March.

The overall loan book continued its growth trajectory and posted healthy performance. Total domestic public sector loans increased by 4.6 per cent MoM (down 1.3 per cent YTD) compared a marginal growth of 1.5 per cent MoM in February 2015.

The government segments loan book expanded by 23.7 per cent MoM (+5.7 per cent YTD). Moreover the government institutions segment, which represents 60% of public sector loans, exhibited flattish performance after declining by 2.5 per cent MoM in February (down 2.4 per cent YTD).

However, semi-government institutions segment declined by 11.9 per cent MoM (down 12.3 per cent YTD). Hence, the government sub-segment pushed the overall loan book up for the month of March 2015.

Private sector loans grew by 3.1 per cent MoM (+4.7 per cent YTD) in March as opposed to a flattish performance in February. The services segment followed by consumption and others positively contributed toward the loan growth.

QCB and World Bank join handsThe Qatar Central Bank and the World Bank recently launched a programme for technical co-operation in Washington to strengthen financial supervision in Qatar.

The programme will allow the QCB to identify risks in the financial system and mitigate them, which will support the increased flexibility in the financial system of Qatar in the face of the global economic and financial shocks.

Regarding the programme, QCB Deputy Governor Sheikh Fahad bin Faisal al-Thani said the bank continues to update its regulations and abilities to manage risk and maintain financial stability in Qatars banking system.

Under the programme, the World Bank will help the QCB improve its performance in monitoring and evaluating the risks that threaten the stability of the financial system based on international best practices

Commercial Bank CEO Abdulla Saleh al-Raisi (centre) with Commercial Banks top management team during the media roundtable

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in compliance with one of the main goals set by Qatars National Development Strategy 2011-2016, a QCB statement said.

Commercial Bank 40th anniversaryCommercial Bank held a series of events recently to mark the 40th anniversary of Qatars first private bank and unveiled a unique anniversary logo and corporate anthem as part of the landmark occasion.

The highlight of the celebrations was a public concert at the Museum of Islamic Art Park by the Qatar Philharmonic Orchestra.At a media roundtable at the Commercial Bank Plaza, Commercial Bank CEO Abdulla Saleh al-Raisi said, 2015 is a special year for Commercial Bank as we mark our 40th year as the oldest and largest private sector bank in Qatar. From entrepreneurial beginnings, Commercial Bank has gone from strength to strength driven by the spirit of ambition, entrepreneurship and innovation that our founders believed in and are still at the core of our business.

We are proud to be a home-grown Qatari bank with strong roots in Qatar for four decades and we remain wholly committed to Qatar as our source of inspiration. We are optimistic about the future, and look forward to continuing to serve our loyal customers over the next 40 years and beyond under the visionary leadership of HH the Emir Sheikh Tamim bin Hamad al-Thani.

Doha Bank launches India operationsDoha Bank formally launched its operations in India, Asias third largest economy recently, thus becoming the first Qatari bank to establish full-scale banking operations in India.

The Doha Bank branch at Sakhar Bhavan was inaugurated by HE the Minister of Finance Ali Sherif al-Emadi in the presence of Indias Railway Minister, Suresh Prabhu, HE the QCB Governor, Sheikh Abdullah bin Saoud al-Thani, Indian ambassador Sanjiv Arora, Qatar ambassador to India,

Abdulla al-Abdulla, Maharashtra ministers, Subhash Desai and Deepak Vasanthrao Kesarkar and prominent Qatari businessman, Yousef Qassem Darwish.

Doha Bank chairman, Sheikh Fahad bin Mohamed bin Jabor al-Thani, managing director Sheikh Abdulrahman bin Mohamed bin Jabor al-Thani and Group CEO, Dr R Seetharaman were among the dignitaries present.

The well-attended ceremony at the Trident Hotel here also saw the e-inauguration of Doha Bank, Kochi branch and the launch of Doha Bank (India) website.

With special focus on small and medium enterprises, Doha Banks India operations will provide comprehensive range of financial services by deploying consumer-centric technology and innovative delivery channels.

Besides Mumbai and Kochi, Qatars premier bank is also looking to open a branch in Chennai.

Promoting Islamic finance in ChinaQIIB and QNB Capital have joined hands with Southwest Securities (SWSC) to promote Islamic financing and investments in China.Chinese brokerage Southwest Securities is based in Chongqing, one of the five listed central cities in China. Southwest Securities is also Chongqings first listed

financial institution. An agreement was signed in Doha recently on the sidelines of an event held to formally open the Middle Easts first centre for clearing transactions in the Chinese yuan. QIIB Chief Executive Officer Abdulbasit A al-Shaibei told Gulf Times yesterday the partnership would help create a framework for Islamic financing in China.

Besides helping Southwest Securities to access investor markets in Qatar and the Middle East, the agreement also aims to open the Chinese market for both QIIB and QNB Capital.

We are looking to access the Chinese market for financing and investments, either directly or indirectly, al-Shaibei said.

QIB wins awardQatar Islamic Bank (QIB) has been adjudged the Best Islamic Bank in Qatar by Islamic Finance News, based on its financial results, achievements, and major financing deals in 2014.

The Islamic Finance News award honours leading institutions in the Islamic finance industry, and is recognised as one of the top awards by global Islamic capital markets. A panel of experts from non-competing organisations examines all submissions during an elimination process until one candidate in each category remains

Doha Bank launches its full-scale India operations

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Qatar has six brands out of the top 50 brands in the Middle East and North Africa (Mena) region in 2015, with a combined brand value of $8.2bn, according to a recent study published by brand valuation and strategy consultancy firm Brand Finance.

The study, The Brand Finance Mena 50, reported that Qatar Airways was the fourth most valuable brand in the Mena, with a brand value of $27bn, followed by QNB in the fifth position, with brand value of $2.6bn, and Ooredoo at the 11th spot, with brand value of $1.7bn.

Also included in the list were Commercial Bank (41st) with a brand value of $413mn, Doha Bank (47th) valued at $358mn, and Qatar Islamic Bank (48th) with a $317mn brand value.

QA awardsMeanwhile, Qatar Airways was on an award-winning spree. It was named Airline with the Best Business Class at the Business Traveller Middle East Awards 2015, based on votes by readers of the Middle East edition of industry magazine *Business Traveller.

Recently the national carrier also emerged victorious at the award

BRAND EQUITY

SIX QATARI BRANDS AMONG MENA TOP 50Brand Finances study placed Qatar Airways as the fourth most valuable brand in the Mena followed by QNB in the fifth position

Seneviratne receiving the award from Faisal Salem bin Haider,

Executive Director for Printing and Distribution Sector at Dubai

Media Incorporated

time percentage, low cost to check bags and average age of airline fleet.

At the eighth Annual TTG China Travel Awards held in Shanghai recently, Qatar Airways was voted best Middle Eastern airline servicing China. The win marks the fourth time the airline has received this accolade from TTG China

night in Hamburg for offering excellence in delivering a premium five-star on-board product to its passengers.

The Onboard Hospitality Awards recognised the airlines Missoni sleeper suits as the best in Textiles category, chosen through an online vote and judged by an independent panel of industry experts against set criteria.

The airline also received two Gold Awards for its new first and business class amenity kits at the 2014 TravelPlus Awards. It won gold for its exclusive Giorgio Armani Fragrances & Beauty first class male amenity kit and the business class Middle East amenity kit.

Qatar Airways, one of the select few carriers with a Skytrax five-star ranking for service excellence, was the only airline to receive two Gold Awards at the event, according to a statement.

Earlier, Qatar Airways was also named the Worlds Most Dependable Airline in a comprehensive study of all major carriers, published by CBS MoneyWatch and conducted by recognised travel site, WanderBat.

It was chosen to lead a select list of 22 international airlines based on on-

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ARCHITECTURE

Hi! I am, Roshan Cherri, an Australian architect, who is now based in Doha and believes in a new way of thinking architecture and sub-systems of the Earth. This is an architecture which would help society and community to thrive by creating positive energy.

It would mean abundance and not just sustainability through the direct application of the principles of Gold Architecture (Beyond Sustainability). I had the privilege of sharing this with people in talk presentations and on a personal note with ministers of various countries and other dignitaries from around the world. I have also demonstrated this principle in some of our projects, designs and am happy to share it more to create

a new paradigm in architecture and make a change by renewing, redeeming and purifying our Earth.

THE MESSAGE: Its time to move beyond the paradigms of green and sustainability by moving one step forwardMan has always been an imitator of nature and a partaker of it. He has, however, always done this at a superficial level without actually intertwining with the kingdoms of nature. The Beyond Sustainability

theory is now a worldwide movement which strives to salvage the situation and redeem the mistakes committed by man, like global warming, deforestation and so on

Sustainability has been discussed much and very frequently these days all over the world, in fact, it has been overused and even used as a tag to sell and promote developments and projects around the world. It feels like its the in thing and trend. Every trend needs to make a change. But does it really change the environment? Is it an active action of changing?

In reality, the way in which we define sustainability would mean Sustain the Destroyed Earth and this will

BUILDINGS NOT GREEN BUT GOLD!

Gold Futuristic Architect and Beyond Sustainable Brand Ambassador Roshan Cherri shares his message for the future and Gold Architecture

Lusail Futuristic Hotel and Office Tower

37MAY

not help us to make a change or deliberately renew or redeem.

Beyond sustainable in architecture would mean the art of creating sub-systems of environment for a deliberate renewal of the Earth. It needs to be seen as the art of creation (designing sub-systems) in a different manner where fabric and space, which are the two derivatives seen producing gold and energy and renewing byproducts. Such systems not only renew the Earth, but also renew the people living on it, thus bringing the gold out of people by using space and place. Both space and places are created by architects and this needs to be not just beyond sustainable, but also fruitful and thriving. Its not just

the Earth that is getting destroyed , we too are getting destroyed. The vast expanse of air column and water can manage the damage.

A very good example would be Googles offices and environment which are broadly based on this principle. We need to design

buildings, cities and use materials which purify the air, water and supply oxygen. Create a space for caring, sharing and collaboration instead of smoke-breathers, factories. We have been very much working towards this goal of deliberate action towards redemption, getting back what we lost, correcting our mistakes.

Roshan Cherri is the CEO / Principal Architect for Studio Cherri of Doha Design Center (DDC) located in Doha, Qatar. He is also Brand Ambassador for Beyond Sustainable Architecture TM around the world. All the views mentioned here are his own.

Crown Hotel Gold Complex, Melbourne

Beyond sustainable architecture is a new way of thinking and designing the latest ideas in architecture using robots and futuristic

ideas to build futuristic structures

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What is beyond sustainabil ity?

Its the design of the world for tomorrow. Beyond Sustainable Architecture (BSA) is a new way of thinking and designing the latest in architecture using robots and futuristic ideas to build futuristic structures. Its all about seeing the external Fabric architecture and internal Space architecture in a totally different manner, beyond just sustainability and interesting forms of shapes and icons for a place.

BSA creates a new paradigm by elevating it to the new level of building relics for future. These will be not just icons but responsible structures that respect nature and mankind. The two ways in which we see it are the rethinking in External BSA and Internal BSA. Its the manner in which an architect can create Gold externally from the fabric of the building and create Gold within a person by using the space to serve the purpose of the people using the space in a manner that enhances the potential of the individuals using it. Thus a thriving, caring and c