Stock Market

Doha, Qatar: Qatar Stock Exchange (QSE) index extended its gains in early trading Monday, rising 0.46%, or 42.23 points, from the previous session’s close to reach 9,227 points. QSE data showed gains showed gains across six sectors, led by Real Estate, which rose 0.83%, followed by Transportation at 0.69%, Industrials at 0.67%, Consumer Goods and Services at 0.56%, Telecoms at 0.54%, and Banks and Financial Services by 0.33%. The Insurance sector, meanwhile, fell 0.92%. By 10am, trading volume reached 31.551 million shares, with turnover totaling QR 59.963 million across 3,503 transactions.

World Business

Singapore: Oil prices slipped on Monday as a rise in Middle Eastern crude exports and the planned release of emergency reserves by Group of Seven countries eased supply concerns and weighed on the market. Brent crude futures fell 66 cents, or 0.65%, to $101.59 a barrel, while US West Texas Intermediate (WTI) crude dropped 95 cents, or 1.03%, to $90.12 a barrel. Brent gave up most of its gains from last week, while WTI fell 1.6% after G7 countries agreed on Friday to release 100 million barrels of crude and diesel from emergency reserves

Qatar Business

Doha, Qatar: The Qatari Businessmen Association (QBA) hosted a luncheon in honour of the visit of The Honorable Harry Coker Jr. Maryland’s Secretary of Commerce, and his accompanying delegation, as part of efforts to strengthen economic and investment cooperation between Qatar’s business community and the state of Maryland and to explore partnership opportunities for the private sectors on both side. The meeting was attended by Sheikh Nawaf bin Nasser Al Thani, QBA’s Board Member and QBA members, Sheikh Mansour bin Jassim Al Thani, Khalid Ahmed Al Mannai, Maqbool Habeeb Khalfan, Yousuf Ebrahim Al-Mahmoud and Mohammed Altaf and Sarah Abdallah, QBA’s General Manager. The meeting was also attended by Maryland Deputy Secretary of Commerce Ricardo Benn and Troy LeMaile-Stovall, CEO of Maryland Technology Development Corporation (TEDCO), one of the state’s leading backers of technology, innovation and entrepreneurship. Sheikh Nawaf welcomed the delegation and said that QBA is keen to expand its relationships with US economic institutions and business communities, and to open direct channels between Qatari investors and American companies. The goal, he said, is to translate the strong economic relationship between Qatar and the United States into greater investment and long-term commercial partnerships. Sheikh Nawaf also stressed the importance of expanding cooperation between the private sectors in Qatar and Maryland, particularly in high value added industries, and of exploring investment and partnership opportunities in technology, healthcare, energy, logistics and other sectors of mutual interest. Coker highlighted Maryland’s strategic location in the Mid-Atlantic region of the US East Coast, near Washington, D.C., along with transport and logistics infrastructure that includes the Port of Baltimore and a network of airports and highways. That access, he said, gives businesses and investors a gateway to major East Coast markets. The state also boasts a heavy concentration of research institutions, universities and specialized science and technology talent, which has helped create an ecosystem linking scientific research, innovation and commercial investment. Biotechnology and healthcare stand out as one of the most promising areas for cooperation. Maryland is home to a significant cluster of companies and research institutions working in biotech, pharmaceuticals, medical devices, digital health and biomanufacturing, and sits close to major federal research and regulatory agencies. Other sectors offering opportunities for cooperation and investment include energy and sustainability, robotics, agricultural technology, financial services, and education, research and development. QBA stressed on the importance of building on these visits and turning ongoing dialogue into concrete investment projects and business partnerships between private sector companies in Qatar and Maryland. The association pointed that both sides have several sectors that align with Qatar’s move toward economic diversification and investment in a knowledge and innovation based economy. At the end of the meeting, both sides said they look forward to continued communication and coordination in the coming period, and to setting up practical mechanisms to follow up on the opportunities discussed, with the aim of strengthening economic and investment ties between Qatar and Maryland and creating new prospects for the private sector on both sides.