Investment Advisor to QNA: Qatar Stock Exchange Index is Witnessing Healthy Correction Process


Doha: The Qatar Stock Exchange (QSE) index ended this week with a decline of 1.1 percent, shedding 116.41 points to close at 10,465.

Speaking to Qatar News Agency , Investment Advisor Ramzi Qasmieh said that the index had seen five consecutive weeks of gains before this week’s decline.

He attributed the drop to a correction phase, which he described as “healthy,” along with profit-taking and the influence of regional political events.

Qasmieh pointed out that all sectors closed in the red this week. The least affected sector was industrials, down by 0.31 percent, while telecommunications and real estate were the hardest hit, dropping by 2.96 percent and 2.58 percent, respectively.

He also highlighted that the index fell by 101 points, or 0.96 percent, in its final session of the week, driven by declines in banking stocks, including International Islamic Bank (down 3.6 percent), Al Rayan (down 2.4 percent), and Ooredoo, which dropped 4 percent after notable gains in previous weeks.

He explained that the d
rop in the last two sessions was due to profit-taking in leading stocks, especially in the banking, real estate, and telecommunications sectors, following the index’s surge past 10,600 points, reaching overbought levels. He noted that the correction is technically necessary and healthy, providing the index with more momentum, as long as it doesn’t fall below the 10,350-point threshold.

Source: Qatar News Agency

Mwani Qatar, QFZ Sign MoU to Enhance Cooperation


Doha: Mwani Qatar and the Qatar Free Zones Authority (QFZ) today signed a Memorandum of Understanding to consolidate efforts and foster cooperation to enhance the country’s profile as a preferred investment destination to global companies.

The MoU was signed by HE CEO of Qatar Free Zones Authority Sheikh Mohammed bin Hamad bin Faisal Al-Thani and CEO of Mwani Qatar Capt. Abdulla Mohamed Al Khanji, in presence of HE Minister of Transport Jassim bin Saif Al Sulaiti.

Mwani Qatar and QFZ are to work on reinforcing coordination and facilitating integration of commercial operations at both the ports and free zones in Qatar to enhance opportunities to promote trade and investments and benefit from the technical expertise and capabilities of both parties.

The MoU also stipulates that Mwani Qatar will provide support to investors and companies operating within the country’s free zones in terms of integrated port and logistics services. Additionally, Mwani Qatar will provide other services like maintenance, installa
tion, and replacement of Aids to Navigation (AtoN), Vessel Traffic Services (VTS), pilotage, towing, and other related services.

On this occasion, HE Minister of Transport Jassim bin Saif Al Sulaiti said that the MoU contributes to supporting the emergence of a thriving and sustainable maritime industry by enhancing cooperation and meeting the investors’ needs within the free zones in a way that is in the interest of the economic diversification and Qatar’s overall competitiveness.

He added that MOT’s plans and strategies have contributed to Qatar’s having large capabilities in the maritime transportation and logistics sectors and we work on utilizing these capabilities alongside implementing National Strategy for Logistic Services Sector (transportation and storage) to solidify Qatar’s position as a global logistics destination and enable traders and investors with less time and cost and this will support the requirements of economic diversification clusters for logistics services and shipping, which repre
sents one of the most important outcomes of implementing the NDS3 and QNV2030.

HE Sheikh Mohammed bin Hamad bin Faisal Al-Thani said, “The signing of this memorandum of understanding with Mwani Qatar marks a significant step in our ongoing efforts to support the investors in Qatar’s free zones. This collaboration will allow our investors to benefit significantly from the excellent maritime transport services by Mwani Qatar, helping them compete better in regional and global markets. By facilitating a business-friendly environment, we aim to provide companies operating in the free zones with enhanced opportunities for growth and expansion, and ultimately to reinforce Qatar’s position as a premier investment destination in line with the pillars of the Third National Development Strategy 2024-2030 and Qatar National Vision 2030.” Capt. Al Khanji welcomed the signing of the MoU with QFZ, highlighting that this collaboration will promote economic and logistical integration between the two entities. He emphasized
that it would allow investors in the free zones to benefit from the company’s competitive services, fostering new opportunities for growth and expansion, contributing to economic diversification and enhancing the nation’s competitiveness in global markets.

In a related context, MOT’s Land Transport Licensing Department Director Hamad Ali Al Marri, who leads the team of the above-mentioned National Strategy for Logistic Services Sector (transportation and storage), said that today’s MoU will be in the interest of the pillars of the strategy; namely streamlining and facilitating the trans-border operational processes and trans-shipping, attracting trade flows, upgrading and enhancing local logistics services, and creating a structure that ensures the effectiveness of governance and coordination in that vital industry.

This strategy, he added, would be implemented in phases to reinforce Qatar’s global profile logistically by fulfilling the requirements of efficiency, connectivity, innovation, and sustainabilit
y, through continuing developing the Qatari transportation sector’s infrastructure, connecting the facilities of the logistics storage areas to an advanced road network, advancing on digital transformation to make processes and procedures easier at all transportation outlets, and using clean energy in all activities of that vital industry.

Noteworthy, this Mwani Qatar-QFZ cooperation is part of a series of initiatives and measures supported by the state to provide a top-notch business environment for companies investing in Qatar generally and the free zones.

Source: Qatar News Agency

Minister of State for Energy Meets Iranian Counterpart


Doha: HE Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi met Thursday with HE Minister of Energy of the Islamic Republic of Iran Abbas Aliabadi, who is visiting Doha.

During the meeting, they discussed bilateral relations and cooperation in the field of energy between Qatar and Iran, and ways to develop them.

Source: Qatar News Agency

Qatar, Saudi Arabia Sign MoU for Finance Sector Cooperation


Doha: The State of Qatar and the Kingdom of Saudi Arabia signed a memorandum of understanding for cooperation in the finance sector.

The agreement was signed by HE the Qatari Minister of Finance Ali bin Ahmed Al Kuwari and HE the Saudi Minister of Finance Mohammed Aljadaan.

During the event, HE Minister Ali bin Ahmed Al Kuwari noted the importance of this agreement and its potential impact, saying “The signing of the MOU comes in recognition of the importance of exchanging expertise and information in the financial sector in order for each party to benefit from the other partys expertise, and to enhance and strengthen relations between our two nations in this field.” For his part, the Saudi Minister of Finance said that the MoU is part of efforts to strengthen relations between Saudi Arabia and Qatar in the finance sector, including microeconomic policy, public sector laws, and legislation to enhance economic growth in the region.

The memorandum aims to support international standards of transparency throu
gh the exchange of documented financial information, within the framework of the two countries keenness to consolidate coordination and joint cooperation on regional and international issues in the finance sector. It also seeks to develop overall financial policies, analyze public financial data, and address climate change issues that are directly related to financial policies.

Source: Qatar News Agency

FIFA World Cup 2026 Qualifiers: Superstar Messi Back in Action as Argentina Brace for Venezuela, Bolivia


Argentine legend Lionel Messi will be back in action as world cup champions gear up for Venezuela and Bolivia in the CONMEBOL FIFA World Cup 2026 qualifiers.

The Inter Miami superstar was ruled out of the La Albiceleste’s squad for encounters against Chile and Colombia in the previous rounds over an ankle injury he sustained in the 2024 Copa America final on July 15.

Lionel Scaloni’s men will face Venezuela and Bolivia respectively on Oct. 11 and 16.

Meanwhile, goalie Emiliano Martinez was sidelined over suspension due to assaulting a photographer in their 2-1 defeat to Colombia in the eighth round in September.

Source: Qatar News Agency

3rd ACD Summit: Ministry of Sports and Youth, SC Hold Mega Sporting Events Management Workshop


Doha: Ministry of Sports and Youth in collaboration with the Supreme Committee for Delivery and Legacy (SC) held a workshop on mega sporting events management.

The workshop was organized on the margins of the 3rd Asia Cooperation Dialogue (ACD) Summit, now held in Doha under the title ‘Sports Diplomacy’.

Among the topics discussed were the State of Qatar’s successful mega sporting events hosting, the sports’ role in boosting international relations, exchanging expertise on major sporting events hosting, and developing joint sports programs to enhance cultural understanding.

The Ministry of Sports and Youth submitted a concept paper entitled Sports Diplomacy in the State of Qatar as part of the preparations for the 3rd ACD Summit. The paper included an introduction to Qatari sports and the role of the State of Qatar in employing sports diplomacy as a soft power to bolster its regional and global position.

The paper also highlighted the State of Qatar’s impact in promoting sports in Asia, and its contributi
on to enhancing the weight of Asian sports in major sporting forums and events.

The Ministry stressed the importance of boosting awareness of sports as a diplomatic tool for international cooperation, by focusing on enhancing pan-Asia cooperation, developing sports infrastructure, and promoting the role of sports in sustainable development.

Source: Qatar News Agency

Qatari Sponsorship Contributes to Enhancing Status of Qatar Prix de lArc de Triomphe Race in France


Doha: The State of Qatar’s sponsorship, represented by the Qatar Racing and Equestrian Club (QREC), which has been ongoing since 2008, has contributed to enhancing the prestige of the Qatar Prix de l’Arc de Triomphe race, held annually on the first Sunday of October.

Qatar Racing and Equestrian Club and France Galop have announced the extension of their agreement to sponsor the historic race until 2027, ensuring the continuation of this partnership, which holds great significance for horse racing in France.

This partnership between the Qatar Racing and Equestrian Club and France Galop stands as one of the most notable milestones in the world of sports, particularly given its longevity, starting in 2008 when it was first signed for a five-year period until 2012. Due to the remarkable success achieved in the initial years, the agreement was extended in 2010 for an additional 12 years, running until 2022. It was renewed once again in 2023, extending the partnership until 2027.

This renewed partnership enhance
s the status and significance of the prestigious global race, which features more than 12 Group 1 races, including four races dedicated to purebred Arabian horses. The event takes place over three days at the beginning of October, starting with a race on Friday at the Saint-Cloud racecourse, followed by two races at the ParisLongchamp racecourse on Saturday and Sunday. These three days become the primary targets for the participation of the best horses in Europe as the racing season approaches its end.

The two most important and prominent races within the event are the Qatar Prix de l’Arc de Triomphe and the Qatar World Cup for Purebred Arabian Horses, which is indeed the largest and most significant race for purebred Arabian horses in the world.

Thanks to this partnership, the status and significance of the Qatar Prix de l’Arc de Triomphe on the global stage have increased year after year, with the race being broadcast live in 60 countries annually, further solidifying the prominence of this historic event
.

In a reaffirmation of this leadership, both Longines and the International Federation of Horseracing Authorities (IFHA), as partners in organizing the Longines World Racing Awards, announced on January 25, 2022, the reappointment of the Qatar Prix de l’Arc de Triomphe as the Best Race in the World, based on official rankings. This marks the fifth time the race has received this prestigious title, having previously won it in 2015, 2017, 2018, and 2019. It is once again crowned as the Best Race in the World for the year 2021.

Chairman of Qatar Racing and Equestrian Club Issa bin Mohammed Al Mohannadi affirmed that the partnership between the club and France Galop, which began 14 years ago, has been marked by success and mutual benefits throughout these years. He pointed out that the long-standing relationship between the club and France Galop is characterized by its continuous development, enhancing the status of both the club and France Galop on the global stage. Sponsorship of the Qatar Prix de l’Arc de T
riomphe is a key element in implementing the club’s strategy and achieving its vision of making Qatar a global hub for horse racing and leading in the care of purebred Arabian horses, he added.

This year, the events of the Qatar Prix de l’Arc de Triomphe will commence on Tuesday with a horse auction organized at the Arqana Sales pavilion in Paris. The following day, horse races will take place at the Saint-Cloud racecourse, featuring a series of races, including the two most important ones: the Gr. 1 PA Qatar Arabian Trophy for three-year-old colts and the Gr. 1 PA Qatar Arabian Trophy for three-year-old fillies.

On the final day of the races, a large number of events will take place, the most important of which are the Qatar World Cup for Purebred Arabian Horses (Group 1) over a distance of 2000 meters and the Qatar Prix de l’Arc de Triomphe for Thoroughbred Horses (Group 1), with a prize value of 5 million euros for this race.

The Qatar Prix de l’Arc de Triomphe is considered the largest horse racing eve
nt in Europe, with its first edition launched in 1920. It is held annually on the first Sunday of October at the ParisLongchamp racecourse, featuring the best thoroughbred horses from around the world. Among the most famous champion horses that have won the Qatar Prix de l’Arc de Triomphe are “Sea Bird II,” “Dancing Brave,” “Enable,” “Treve,” and “Zarkava.” This prestigious global race not only showcases fierce competition and a strong test among the best horses but also serves as a major social event, attracting large crowds each year.

The Qatar World Cup for Purebred Arabian Horses (Group 1) has achieved unparalleled success since its inception, drawing significant attention, especially as it takes place alongside the Qatar Prix de l’Arc de Triomphe at the ParisLongchamp racecourse. This timing adds extra momentum to the event, as it annually features the best purebred Arabian horses from around the world, representing prominent owners from various countries, including Qatar, Saudi Arabia, the UAE, Oman, F
rance, the United States, the Netherlands, the Czech Republic, Poland, Russia, Turkey, Tunisia, England, Iraq, Switzerland, Morocco, and others. Currently, the total prize money for this event stands at 1 million euros, making it the largest race for purebred Arabian horses on turf in Europe.

Source: Qatar News Agency

Qatar Table Tennis Federation President: Ready to Host 2025 ITTF Championship


Doha: Khalil Al Mohannadi, who is the President of the Qatari and Asian Table Tennis Federations and First Vice President of the International Table Tennis Federation, confirmed Qatars readiness to host the 2025 ITTF World Table Tennis Championships in Doha and to deliver an exceptional edition of the event.

In statements to the Qatar News Agency , Al Mohannadi said that the federation was more than ready to host the competition, highlighting Qatar’s great capabilities in terms of infrastructure, facilities, and world-class sports venues.

He added that the Qatar Table Tennis Federations organization of the global event for the second time reflects Qatars commitment to contributing to the development of table tennis worldwide, noting that Qatar previously hosted the 2004 edition of the championship.

Regarding the inspection visit by the International Table Tennis Federation’s inspection committee to review the latest preparations for the State of Qatars hosting of the championship, Al Mohannadi mentioned th
at the committee conducted its first inspection in January, this is their second visit, and a third visit will take place before the championship begins. He also pointed out that the General Assembly of the International Table Tennis Federation, which will be held on the sidelines of the World Championship, will witness the attendance of representatives from more than 200 countries.

Regarding the agreement between Aspetar, the Qatar Orthopedic and Sports Medicine Hospital, and both the Qatari and International Table Tennis Federations, Al Mohannadi said that Aspetar stands out with its outstanding facilities and global expertise as one of our key partners and supporters of the various championships the association organizes.

In conclusion, the President of the Qatari and Asian Table Tennis Federations and First Vice President of the International Table Tennis Federation told QNA that the State of Qatar has become a center of sports excellence. He also expressed his appreciation of the trust the Internationa
l Table Tennis Federation has placed in the country’s ability to host the global event.

Source: Qatar News Agency