DOHA: Qatar Islamic Insurance’s net profit attributable to the shareholders stood at QR61,884 for the third quarter ended September 2014, up 22 percent in comparison with QR50,627 for the same period a year ago. Announcing the financial results yesterday, Qatar Islamic Insurance Chairman Sheikh Abdullah bin Thani said despite the strong competition in the local insurance market, the company has delivered impressive results. Commenting on the results, Ali Ibrahim Al Abdullghni, CEO, said net insurance premium during the period increased by 9 percent to QR180,891 compared to QR166,529 for the same period in 2013.
The Peninsula
DOHA: The size of Qatar Investment Authority’s (QIA) assets has touched $450bn. The QIA has invested its fund in a wide range of sectors including banks, real estate, tourism, agriculture; both inside and outside Qatar, Al Sharq reported. The major focus of QIA’s foreign investments is on West European countries like the UK, France and Germany. The combined asset in these countries stands at an estimated $80bn. UK alone attracts $35bn. QIA has invested an estimated amount of $25bn in France, while in Germany’s industrial sector attracted $20bn. Total investments in the US stands at $11bn, the daily reported.
The Peninsula
DOHA: Qatar bourse extended its rally yesterday climbing 1.93 percent, or 252 points, to close at 13,328. Real estate stocks jumped on Qatar Central Bank (QCB)’s real estate price index. The sector gained the most by advancing 2.35 percent.
The value of real estate stocks surged a staggering 205 percent to QR159m from the previous session. The volume jumped to seven million from two million shares. UDC soared by 3.52 percent, while Barwa and Ezdan rose by 2 percent and 2.09 percent, respectively. Mazaya rallied 5.3 percent.
Banking major QNB edged 1.98 percent up, while QIB jumped 3.20 percent. International Islamic was up by 3.39 percent and Al Rayan added 2.93 percent. Vodafone rose by 2.76 percent as Ooredoo fell by 0.16 percent. Market cap surged to QR719bn from QR707bn.
The Peninsula
