Business
SUNDAY 13 NOVEMBER 2022
QSE 12,557.26 –106.63 (0.84%)
QNB concludes ‘Be on the winning team’ GCC economies set to get
campaign to celebrate World Cup kick off extra boost from FIFA
THE PENINSULA — DOHA
QNB Group, the largest financial
institution in the Middle East
and Africa, and the Official
Middle East and Africa
Supporter of the FIFA World
Cup 2022, announced the
winners of the final draw of its
‘Be on the winning team’
campaign.
QNB is the only bank in the
world offering its customers
1,000 match tickets, to expe-
rience a once in a lifetime
opportunity of attending the
most anticipated FIFA World
Cup Qatar 2022 held for the first
time in the Middle East.
The campaign brings a
global celebration of football
passion together with its 450
winning customers from more
than 35 nationalities, cheering
for their favourite team and
making the tournament a
success that will be remem-
bered for generations.
Running under the theme
of ‘Be on the winning team’,
QNB is the only bank in the
world to have launched
exclusive campaign for existing
and new customers, to benefit
The Pearl Island gets ready to welcome World Cup fans
THE PENINSULA — DOHA
United Development Company
(UDC), the master developer of
The Pearl and Gewan Islands, has
announced its World Cup activ-
ities program that includes events,
new landmarks and festivities that
are aimed at attracting the largest
number of visitors and tourists
during the World Cup.
The Pearl Island, with its
stunning and serene scenery and
lively and vibrant shopping and
dining areas, houses more than
360 operational retailers of world
class quality that include: shops,
restaurants,
cafes, enter-
tainment outlets
The Pearl Island has once
again transformed itself to
accommodate all different
tastes and whims through
these projects and countless
entertainment programs that
are scheduled for a full
month (covering the World
Cup) all over the Island.
Tadmur Trading announces partnership
with Henkel Polybit Industries
T
admur Trading a sub-
sidiary of conglomerate
Tadmur Holding,
renowned construction and
infrastructure solutions pro-
vider, has recently announced
its partnership with world
leading manufacturer of water-
proofing and construction
chemical products, Henkel
Polybit. Both partners will work
jointly to provide the local
market with Henkel Polybit
high quality product range of
construction chemicals,
including providing local man-
ufactured products in the state
of Qatar. Tadmur Trading
DCEO, (Mr. Raed Halawa), com-
mented on the partnership with
FTSE 100 7,318.04 −57.30 (0.78%)
Participants at the 'Be on the winning team' campaign.
from a wide range of banking
products such as personal and
vehicle loans, opening accounts
and fast international digital
money transfers or increasing
their deposits balances.
Adel Ali Al Malki, General
Manager Group Retail Banking,
said, “QNB is privileged to
exclusively take 1,000 of its
loyal customers to the World
Cup stadiums to live the
and various other services.
All construction works are pro-
gressing at full swing and according
to schedule as planned, many
projects have already been
completed while others are
on the verge of official inau-
guration, keeping in line with
all visions and promises made
to World Cup visitors, fans
and residents in becoming an
ultimate fan destination for
the World Cup and other
aspirations.
Very soon, the iconic
Corinthia Yacht Club in Porto
the construction solutions
global leader and stated: “we
are extremely honoured and
elated to welcome the interna-
tionally renowned Henkel
Polybit as our new partner and
we look forward to building our
future together, we look
forward to mutual success and
GORD and Baladna join global climate
action at COP27
As Qatar continues to make major strides towards
self-reliance in food security, adopting sustainable
farming and ecofriendly agriculture solutions is
imperative for the nation’s sustainable development.
Dr. Yousef Alhorr
GORD’s Founding Chairman
excitement and passion of
football. This campaign was
launched to celebrate the
biggest event of the year and to
exceed the customers’ aspira-
tions for this authentic
experience’’.
QNB Group, currently ranked
as the most valuable bank brand
in the Middle East and Africa, is
proud to be the Official Middle
East and Africa Supporter of the
Beach Centrale
Arabia will join the list of officially
inaugurated landmarks with the
announcement of its opening to
yachting enthusiasts, yacht
owners and, of course, Asian
cuisine foodies with the opening
of the famous Kai’s Songbird Res-
taurant from London.
Also, the official opening of
Gewan Golf Club on Gewan
Island, will provide state-of-the-
art spacious golfing facilities in an
innovative entertaining expe-
rience for golfing enthusiasts.
The Pearl Island has once again
transformed itself to accommodate
further growth in the state of
Qatar.”
The partnership will also
focus on combining joint
expertise and technological
capabilities to supply the
market with both locally and
internationally manufactured
products.
BUSINESS | 18
DOW 33,443.52 −271.85 (0.81%)
FIFA World Cup 2022.
Through its subsidiaries and
associate companies, the Group
extends to more than 30 coun-
tries across three continents
providing a comprehensive
range of advanced products and
services. The number of
employees is 27,000 operating
through 1,000 locations, with
an ATM network of more than
4,700 machines.
The Pearl Fountain
all different tastes and whims
through these projects and countless
entertainment programs that are
scheduled for a full month (covering
the World Cup) all over the Island.
Qanat Quartier will be
adorned with the ‘Qarnevale
Quartier’ event, an international
masquerade-style festival, under
the supervision of “Festi Group”,
the organizer of the famous
Venice Carnival, which will create
an enchanting atmosphere that
will increase the precinct’s
splendor and captivating beauty.
As for Medina Centrale, ‘Med-
inafest’s’ epic parades will fill the
lively and vibrant streets complete
with world class entertainment in
all forms including mobile car
shows that will be presented by a
selection of artists, musicians, and
acrobats from around the world.
Catering to different tastes
and bringing them together at the
same time, Porto Arabia will have
two festive events on opposite
sides of the beautiful marina
boardwalk, the first with an
Arabian flavor and character
‘Arabia Experience’, where a
group of handicrafts and tradi-
tional goods from Qatar’s rich her-
itage will be displayed, as well as
enjoyable cultural activities. As for
the second event ‘Porto Beat’, a
modern, vibrant, and musical aes-
thetic during which lights, glowing
structures and live DJ perform-
ances create a captivating
atmosphere.
A new completed landmark
that has already attracted many
BRENT $95.79 (+1.26)
World Cup Qatar 2022
DEEPAK JOHN
THE PENINSULA
Gulf Cooperation Council (GCC)
economies are set to get an extra
boost from the upcoming FIFA
World Cup Qatar 2022. This
paves the way for Qatar to enjoy
potential near-term economic
gains but also highlights the
logistical challenges of managing
the event, which will likely lead
to positive spillover effects for
the rest of the region according
to Standard and Poor’s (S&P)
Global Ratings report.
More than 1.2 million fans are
expected to attend the event,
increasing Qatar’s population by
about 1.5 times. GCC economies
already benefiting from high
hydrocarbon prices and are set
to get an extra boost from this
month’s FIFA World Cup “We
also foresee a post-World Cup
slowdown in economic activity
in Qatar. Oversupply in the hos-
pitality and real estate sectors
could somewhat moderate their
performance, although we don’t
expect this to materially affect
banking sector asset quality,”
S&P said in a credit FAQ titled,
visitors in Porto Arabia is the
newly inaugurated Pearl
Fountain. Other amazing projects
are getting their finishing touches
such as; Duck Lake, Beach Cen-
trale and The Pearl Photo Walk.
The family-friendly “Beach Cen-
trale”, which is located in the middle
of The Pearl Island, has a main pool
for adults connected to an artificial
sandy beach, and another swimming
pool and waterpark for kids, in
addition to kiosks selling food and
drinks, as well as showers and
changing rooms.
Adjacent to this beach, the
new Duck Lake features a large
duck pond where the whole
family can enjoy feeding the ducks
and riding pedal
boats, in addition to
delighting in vast
green areas, and
two cycling and
walking trails, as
well as a beautiful
15-meter water
fountain.
As more and
more recreational
spots and attractions
are being made
ready for visitors to
enjoy during their
visit to The Pearl
Island, The Duck
Lake and Beach
Centrale facilities
are expected to be
the new family
favorite hotspots,
where children can
engage in fun
‘World Cup Will Give An Addi-
tional Near-Term Boost To GCC’.
“We estimate real GDP
growth of 4.8 percent in 2022, a
sharp increase on 2021 (1.5
percent), partly due to the addi-
tional economic activity asso-
ciated with the World Cup, but
also reflecting the ongoing
recovery following the removal
of COVID-19-related restrictions.
We estimate non-oil GDP growth
in 2022 at 8 percent, compared
with close to 3 percent in 2021,”
the report said.
It further said, “We expect
hydrocarbon sector growth to
be broadly flat, but because this
sector (mostly gas production)
accounts for about 65 percent
of real GDP this lowers our
overall GDP estimate. We
foresee a significant increase in
Qatari gas production only from
2025 onward as a result of some
phases of the NFE beginning
that year. This would increase
QatarEnergy’s LNG production
capacity from 77 million tons
per year (mtpa) currently, to 109
mtpa in 2025 and to 126 mtpa
by 2027.” ÄP17
The Pearl Island,
with its stunning and
serene scenery and
lively and vibrant
shopping and dining
areas, houses more
than 360 operational
retailers of world
class quality.
activities that not only contribute
to their physical development but
also aim to strengthen family bonds
and quality time on the Island.
And, in order to facilitate
movement between all the different
landmarks, projects and events,
United Development Company has
made available to residents and vis-
itors alike a new and essential “Pearl
Bus” service which is completely free
of charge, a hop on hop off system
that improves convenience for eve-
ryone on the Island. In addition to
this a new smart application has
been developed that includes all the
services, information, and details
that a resident or tourist may need
at their fingertips.
Corinthia Golf Club
18 BUSINESS
ES
SS SUNDAY 13 NOVEMBER 2022
S

Corinthia Yacht Club set to open its doors on The Pearl Island
THE PENINSULA — DOHA
Corinthia Yacht Club is pleased to
announce its official opening in November
2022, at The Pearl Island. The new club
offering will bring a refined membership
experience and will set new standards
for yachting in Doha, and further
enhancing The Pearl Island’s position as
a prestigious, international maritime
destination.
Corinthia Yacht Club was brought to
Qatar in partnership with international
hotel group, Corinthia Hotels, and local
partners United Development Company
(UDC), master developer of The Pearl and
Gewan Islands. Corinthia’s reputation for
combining intelligent, modern design
with intuitive and warm service aligns
with UDC’s strategy of forging meaningful
relationships with partners who share a
mutual vision to deliver a new standard
of excellence in services and facilities at
The Pearl Island.
Commenting on the partnership,
Turki bin Mohammed Al Khater, UDC
Chairman said: “Qatar has witnessed sig-
nificant growth in tourism, and hospitality
over the past few years. Driven by UDC’s
vision to create a world leading maritime
eco-system in Qatar, this partnership with
Corinthia Hotels lays a solid foundation
for our expansion plans through invest-
ments in vital sectors including maritime,
tourism and hospitality”.
For his part, Ibrahim Jassim Al
Othman, UDC’s President, Chief Executive
Officer, and Member of The Board,
expressed: “We are confident that inau-
guration of Corinthia Yacht Club, under
the management of Corinthia Hotels, will
deliver an exceptional high-end leisure
experience and state-of-the-art facilities
that will set a new benchmark in Doha.
Corinthia Yacht Club will be a unique
landmark as well as a prized addition to
the distinctive facilities of The Pearl
Island.”
Simon Naudi, CEO of Corinthia Hotels
said: “Corinthia’s history and interna-
tionally renowned reputation of dis-
tinction within the hospitality sector res-
onates with Qatar’s modern luxury and
dedication to delivering excellence. UDC’s
partnership with Corinthia Hotels is the
ideal match to embed a world-class yacht
club that will further enhance The Pearl
Island as an internationally recognized
maritime destination”.
Located in Porto Arabia, the new
24,000 square feet (2,232 square meters)
club provides a full-service marina that
offers world-class facilities for yacht
owners. Facilities include a climate con-
trolled outdoor terrace, a members’ lounge
serving High Tea, private meeting rooms
that offer comfort and discretion, a cigar
lounge, a members-only Mediterranean
restaurant, and a signature dining expe-
rience from London, KAI of Mayfair. Whilst
club membership is by invitation only, the
local community and visitors will enjoy
access to Kai’s Songbird restaurant.
Commenting on the launch of Corin-
thia’s inaugural yacht club, Managing
Yacht Club
UDC Chairman, Turki bin Mohammed Al Khater (left) and UDC President, Chief
Executive Officer, and Member of The Board, Ibrahim Jassim Al Othman
Director of Corinthia Doha, Matthew
Dixon stated: “We are thrilled to launch
the first-of-its-kind luxury yacht club in
Doha further enhancing the exclusive
offering of The Pearl Island. With its
breathtaking design and exceptional
setting, Corinthia Yacht Club will become
the ultimate destination for discreet
meetings, prestigious events and unpar-
alleled dining experiences.”
The state-of-the-art design of
Corinthia Yacht Club is wrapped in glass,
providing members and guests with a
360-degree view of the marina, comple-
menting Qatar’s reputation for innovative
architecture, elegant design, and con-
summate luxury. Corinthia Yacht Club’s
striking exterior is inspired by the sails of
Qatar’s traditional dhows, while the
interior boasts modern design and
comfort.
The partnership between UDC and
Entry lounge
Corinthia Yacht Club involves the ‘Yacht
Club de Monaco’, and Monaco Marina
Management (M3). Yacht Club de Monaco
is synonymous with the ultimate mar-
itime luxury lifestyle and is arguably the
world’s capital of yachting. Its
involvement with Corinthia Yacht Club,
and its Mediterranean relationship with
Qatar’s maritime traditions, demonstrates
the level of service and quality of this
development within the Middle East,
offering luxury yacht owners all the prac-
tical facilities required delivered to the
highest standard.
The partnership with Yacht Club de
Monaco will also potentially establish Cor-
inthia Yacht Club as a ‘La Belle Classe Des-
tination’, a designation awarded to world-
class marinas that achieve Yacht Club de
Monaco’s exceptional standards in quality
of facilities, services, and safety.
Corinthia Yacht Club will be the first
of three Corinthia branded luxury devel-
opments opening over the next three
years. Corinthia Gewan Island Hotel will
open in 2024, in partnership with UDC,
adjacent to The Pearl Island in Qatar, fol-
lowed by Corinthia Residences which will
open in 2025.

GORD and Baladna join global climate action at COP27 Ras Laffan petrochemical plant
THE PENINSULA — DOHA
Baladna Food Industries, a leading and largest
dairy producer in Qatar, has joined forces with
the Gulf Organisation for Research and Devel-
opment (GORD) to explore synergies aimed at
enhancing Qatar’s food securing through
sustainable innovations. To this end, a memo-
randum of understanding (MoU) was signed on
November 9, 2022 at the UNFCCC (COP 27) taking
place until 18 November 2022 in Sharm El Sheikh,
Egypt. Areas of collaboration covered in the recent
MoU include works on RDI activities to support
sustainable solutions aimed at ensuring food
security; capacity building through trainings and
educational programs, and decarbonization initi-
atives aimed at achieving carbon mitigation.
Signing the agreement was GORD’s
Founding Chairman, Dr. Yousef Alhorr and
Wafaa Al Saffar, Sustainability Director at
Baladna. Speaking at the MoU signing cer-
emony, Dr. Yousef Alhorr said, “As Qatar con-
tinues to make major strides towards self-
reliance in food security, adopting sustainable
farming and ecofriendly agriculture solutions
is imperative for the nation’s sustainable devel-
opment. Baldana has remained a key player
in strengthening Qatar’s food security, all the
while initiating a range of climate conscious
projects. Our MoU with Baladna aims at pur-
suing more research to reduce carbon foot-
print by developing sustainable cooling tech-
nologies in agriculture in places like Qatar that
have harsh climatic conditions. Our collabo-
ration today provides an example for organ-
izations across diverse sectors to explore syn-
ergies aimed at catalyzing climate action.”
GORD’s Founding Chairman, Dr. Yousef Alhorr and Sustainability
Director at Baladna, Wafaa Al Saffar during the agreement signing.
Speaking on behalf of Baladna, Wafaa Al
Saffar, Environmental, Social and Governance
Director, said, “Today we are celebrating our
partnership with GORD. We are privileged to
be invited at COP27 to formalize this collabo-
ration which we believe will be very crucial in
strengthening Qatar’s food security and
ensuring its sustainable development. We are
very pleased to work with GORD through the
years, pushing our mutual agenda towards a
sustainable future.” Giving details about spe-
cific projects of collaboration, she added, “Qatar
has a very harsh climate which makes dairy
farming very challenging. Through our MoU,
Baladna and GORD will be collaborating on
the development and application of GORD’s
novel cooling technology for climatizing barns.”
At COP27, Baldna is also joining GORD
Pavilion as the Eco-Champion of Destination
Green Program – a multistakeholder initiative
gathering organizations to share their success
stories in the field of sustainability by show-
casing them at international platforms such as
COP 27. The idea behind GORD’s Destination
Green is to widen the impact of the ongoing
sustainability efforts by exploring cross-sector
synergies and promoting stakeholder
engagement beyond their field of
business. Sharing details about Baladna’s
engagements at COP27, Francis Higgins, Cor-
porate Communications Director, said,
“Baladna is here at COP27 to share its unique
story about how despite all odds it overcame a
dire situation that Qatar faced with no dairy in
the country due to blockade. Here in COP27’s
Blue Zone and Green Zone, we are listening to
the talks to learn how we can do even more to
address climate change and achieve sustainable
development. We are also here to support
GORD as our strategic partner. We have a multi-
stakeholder partnership whereby Baladna has
been able to reduce its climate impact.”
to be region’s largest in 2025
LALIN FERNANDOPULLE
THE PENINSULA
The petrochemical facility in Ras
Laffan, a collaboration between
QatarEnergy and Chevron will
comprise an ethane cracker that
will produce 1.9m tonne of
ethylene per year, an 82 percent
output increase making it the
biggest of its kind in the region
and one of the largest in the world
when operational in 2025,
according to the US-Qatar
Business Council (USQBC) report
to mark 50 years of collaboration
between Qatar and the United
States this year.
QatarEnergy and Chevron
inked an agreement to build a
petrochemical facility in Ras
Laffan which is a result of the
North Field Expansion with
Chevron having a 30 percent
stake in the venture.
The North Field, the world’s
largest single non-associated
natural gas field, lies offshore
northeast of the Qatar peninsula.
Natural gas on the north-east
coast of Qatar was discovered in
1971 and 15 appraisal wells have
been drilled at North-Field over
14 years. The field is owned by
QatarEnergy and is operated by
its subsidiary Qatargas.
QatarEnergy and
Chevron inked an
agreement to build a
petrochemical facility
in Ras Laffan which is
a result of the North
Field Expansion with
Chevron having a 30
percent stake in the
venture.
in June 2022.
QatarEnergy holds 75 percent
interest in each joint venture,
while ExxonMobil, Cono-
coPhillips, 25 percent interest in
the respective JVs.
QatarEnergy has also con-
tracted major US companies such
as McDermott International Ltd.,
Baker Hughes Co., and Northern
Offshore Drilling Operations Ltd
for construction & engineering-
related works in the $28.7bn
North Field Expansion Project.
The US-Qatar Business
Council promotes, enhances and
advances the bilateral business
relationship between the United
States and the State of Qatar.
Today, the US-Qatar Business

Global trade to contract over coming months QatarEnergy announced the

THE PENINSULA — DOHA
Global trade is often referred to as
a key barometer of economic
activities across countries. Few
indicators reflect the overall health
of the global economy as well as
trade data does. Underpinned by
real cross-border transactions,
trade data captures the demand
for key products as well as
production factors, including
physical consumer goods, capital
goods, basic inputs and commod-
ities. As a result, global trade data
tends to be highly sensitive to
macro conditions, moving along
with the cycles of economic
expansion and contraction.
Recently, after the sharp but
short-lived collapse in activity fol-
lowing the onset of the pandemic,
global trade rebounded strongly.
According to the Central Planning
Bureau of Netherlands for Eco-
nomic Policy Analysis (CPB NEPA),
global trade volumes surged by
more than 30% since the depths
of the Great Pandemic Downturn
in early 2020, far surpassing pre-
pandemic levels and comfortably
reaching all-time highs. Surpris-
ingly, this has been taking place
even as bottlenecks and supply-
chain constraints persisted.
However, global trade volume
data tends to give us a picture of the
recent past rather than the present
or incoming future. CPB NEPA data,
for example, are released with a
Key indicators for global trade (y/y, %)
delay of three months, which means
that their recent print reflect trade
volumes from August 2022. It is
preferable to look to alternative
data points that tend to provide
forward looking insights, rather
than backward looking ones.
In our view, leading indicators
are suggesting that global trade
will not continue to grow but slow
down and even contract for a few
months. Three main points
support our analysis.
First, high frequency data from
key major economies (US, Euro
area and Japan) are pointing to a
“global trade recession.” The flash
Purchasing Managers’ Index (PMI)
surveys from advanced economies
printed consecutive months of
slowdown in new export orders
which slipped further into contrac-
tionary territory in October. High
inflation is negatively affecting dis-
posable income across major
economies, dampening overall
demand. This is in line with a con-
tinued deceleration of trade
growth in early reporting Asian
exporters (Japan, South Korea, Sin-
gapore and Taiwan). These coun-
tries tend to lead global trade pat-
terns, as they play a key role in the
supply chain of manufacturing
activities across continents.
Second, forward-looking
investors are also anticipating a
significant contraction. Indeed,
investor expectations about future
earnings of the transportation
sector, a key leading indicator for
future growth in global trade, is
indicating a sharp contracting in
demand for physical goods. The
Dow Jones Transportation
Average, an equity index com-
prised of airlines, trucking, marine
transportation, railroad and
delivery companies, whose per-
formance leads global exports by
at least 3 months, peaked in
March 2021, declining rapidly ever
since to deep contraction rates.
Third, foreign exchange (FX)
movements are also likely to further
play their part in depressing global
trade. USD strength, predicated in
more aggressive policy rate hikes
and a better performing US
economy, is a major drag to global
trade growth. Around 40% of global
trade flows are invoiced in USD and
a stronger USD makes non-US
imports more expensive. This further
squeezes disposable incomes or
even supports the substitution of
imports for domestic products, neg-
atively affecting trade volumes.
All in all, global trade volumes
are set to decline substantially
over the next months. Trade
reflects the overall macro-eco-
nomic environment and is just
another indicator of the difficult
environment that has been pre-
vailing in recent months.
expansion of the gas field in April
2017 after revoking its 12-year
Council is a critical entity in the
expansion of trade and
investment between the United
self-imposed ban on field States in Qatar. In addition to pro-
development. viding advisory, consulting, and
The expansion will increase market research services to its
Qatar’s liquefied natural gas member companies, USQBC
(LNG) production capacity from delivers many events to bring
77m tons per annum (Mtpa) to 110 together business leaders and
Mtpa, which accounts for an LNG government officials.
production capacity increase of Throughout recent years,
approximately 43 percent. USQBC has supported the multi-
QatarEnergy formed joint city Qatar-US Economic Forum,
ventures with American webinar engagements, meet and
oil and gas giants ExxonMobil, greet receptions for government
ConocoPhillips, among other officials, investment & trade
international companies for engagements, and many other
developing the expansion project events.
European stocks up despite
recession warnings
AFP — NEW YORK
Global stocks mostly ended higher yesterday as slower US inflation
and an easing of Covid restrictions in China boosted investor sentiment,
despite prospects of a downturn.
Frankfurt and Paris managed to advance by more than half a percent
by the end of trading, although gains were capped as the European
Union warned that the eurozone was set to fall into recession this winter.
US stocks also ended higher, extending Thursday’s rally after closely-
watched government data showed annual inflation in the world’s biggest
economy had eased slightly -- dimming expectations of more aggressive
interest rate hikes from the Federal Reserve. Oil prices picked up as
well following China’s announcement that it would relax some of its
hardline Covid-19 restrictions, including shortening its quarantine
requirements for international travelers by two days. “This has been
sufficient to prevent more than modest losses on some indices, with
the week ending in a far more optimistic tone,” noted Chris Beauchamp,
chief market analyst at online trading platform IG.
 SUNDAY 13 NOVEMBER 2022
2 BUS
BUSINESS 17

GORD, Doha Bank commence climate partnership at COP27

THE PENINSULA — DOHA
The Gulf Organisation for
Research and Development
(GORD) and Doha Bank have
signed a memorandum of
understating (MoU) to cooperate
in driving change towards the
creation of the circular
economy through sustainability
initiatives in financial sector.
The MoU was signed by Dr.
Yousef Alhorr, Founding
Chairman of GORD and Yousef
Abdulla A M Al Meer, Head of
Strategy, Marketing and ESG of
Doha Bank on November 10 in
the Arab Republic of Egypt – the
host country of the 27th session
of the Conference of the Parties
(COP27) to the UNFCCC, where
governments, NGOs, trade
unions, businesses and stake-
holders with interest in climate
change met to review and nego-
tiate global action.
In line with Qatar National
Vision and the National Climate
Change Action Plan, the recent
MoU will facilitate Doha Bank
to boost the bank’s green initi-
atives and develop framework
for a robust sustainability
strategy and ESG compliance
with support from GORD’s
experience and expertise in the
In line with Qatar
National Vision and
the National Climate
Change Action Plan,
the recent MoU will
facilitate Doha Bank
to boost the bank’s
green initiatives
and develop
framework for a
robust sustainability
strategy.
sustainability landscape.
Addressing the audience of
climate experts representing
leading international organiza-
tions, institutions and think-
tanks attending the MoU signing
ceremony at GORD Pavilion
during COP, Dr. Yousef Alhorr,
Founding Chairman of GORD,
said, “The last few years have
seen a dramatic rise in green-
washing practices, which are
hampering the progress of envi-
ronmental initiatives led by
genuine parties.
To address the issue, all
public listed corporates in Qatar
GORD and Doha Bank officials exchange the MoU.
are now required to review
their climate impact through
transparent sustainability
reporting that reflects the
organization’s efforts in envi-
ronmental, social and gov-
ernance aspects.
Today, we are collaborating
with Doha Bank to establish a
foundational framework for the
environmental footprint of
organizations operating in the
financial and business sector.”
Yousef Abdulla A M Al-Meer
of Doha Bank extended his
thanks to GORD’s Founding
Chairman for the continuity of
the strategic relationship
between the two parties.
“Through our ongoing strategic
partnership with the Gulf Organ-
isation for Research and Devel-
opment, Doha Bank is con-
tinuing its commitment to the
environment to reduce our
carbon footprint and support
Qatar’s vision of a sustainable
and carbon neutral economy. At
Doha Bank, as a financial insti-
tution, we maintain sustaina-
bility in our approach to business
and to all stakeholders as a cor-
nerstone of future growth.
This would enable us to
enhance our position locally,
regionally and internationally
in developing, supporting and
contributing to green and eco-
friendly solutions.”
The MoU builds on a range
of sustainable projects initiated
by Doha Bank over the years.
Doha Bank is the first bank in
the State of Qatar to sign an
agreement with the United
Nations (UN) for environmental,
social and institutional sustain-
ability standards.
It is also the first bank in
the State of Qatar to launch
green banking products such
as the green account, green car
loans, green real estate facil-
ities and other services and
products.
GORD’s partnership with
the bank is among a number of
alliances the organissation for-
malized during the first week
of its participation at COP27.

INTEREL to offer smart
technology solutions to
commercial buildings
THE PENINSULA — DOHA
INTEREL, award-winning IoT
and energy management
provider serving hospitality
and MDU properties worldwide
and Video Home and Electronic
Centre W.L.L announced a non-
exclusive reseller partnership
to offer innovative smart tech-
nology solutions to commercial
buildings in the Qatar market.
INTEREL’s EOS is a cloud-
connected single component
Energy Management Solution
designed to address existing
and new construction projects
interested in operating more
efficiently and sustainably.
Significant energy savings
are achieved through the
inclusion of an array of
onboard sensors allowing the
device to detect occupancy and
activity. EOS presents a unique
value proposition by incorpo-
rating an IoT hub and a variety
of additional built-in technol-
ogies designed to serve
buildings over the long-term;
with new features, function-
ality, and integrations able to
be released on an ongoing basis
via over-the air updates.
C.V. Rappai, Director and
CEO of Video Home and Elec-
tronics Centre said, “a new
products and services that
makes it easier for old Hotels
where digital transformations
are very limited or impossible,
now with this new EOS product
from INTEREL that is manufac-
tured in ITALY shall bring to
collect, transform, and transfer
data to the cloud in near real
time”.
Hotel Operators, Chief
engineers, industry can use IoT,
user friendly software to collect
and organize occupancies data
more easily, and to store the
data in a standardized way for
data analysis in the cloud.
These capabilities allow
Hotel Operators to reduce the
manual check in and automate
room operations more effec-
tively to boost energy
efficient.
Sumant Bhalla, Director of
Sales, INTEREL said,” With
INTEREL’s and Video Home’s
strong presence in the region,
paired with a perfect combi-
nation of product from
INTEREL and skill set of Video
Home and Electronics Center,
INTEREL is optimistic and con-
fident to grow stronger in the
region with its Retrofit and new
build solution, EOS. We shall
continue putting in efforts to
offer sustainable solutions and
to help businesses benefit from
our energy saving solutions by
reducing their carbon
footprint.”
Qatar attends 15th annual meeting
of Global Forum on Transparency
QNA — SEVILLE
The State of Qatar participated in the 15th
annual meeting of the Global Forum on Trans-
parency and Exchange of Information for Tax
Purposes and Group of Twenty, which took
place in Seville, Spain from November 9-11,
with the participation of 165 other
countries.
KidzMondo, Yalla Toys geared to entertain guests
KidzMondo and Yalla Toys officals during the tie-up ceremony.
THE PENINSULA — DOHA
KidzMondo Doha, Qatar’s
largest edutainment city and
Yalla Toys, thee online toy store
in Qatar, have joined together
to provide a truly enhanced
experience for all guests at Kidz-
Mondo. Yalla Toys being an
online platform and application
its their first and only showroom
in Qatar.
The initiative was
announced during an event that
took place on November 10 in
KidzMondo at Mall of Qatar in
the presence of management of
both entities.
With the partnership, Kidz-
Mondo will be able to expand its
range of toys and gift offerings
to include not only KidzMondo
branded souvenirs, but also the
newest and trending children’s
toys in town supplied by Yalla
Toys. The collaboration will also
President of the General Tax Authority
Ahmed bin Issa Al Mohannadi chaired the State
of Qatar’s delegation to the meeting.
In a tweet on its official Twitter account,
the Authority said that the State of Qatar has
been classified as a positive member and con-
forms to the best international standards, as
well as the transparency of its systems in the
exchange of information for tax purposes.
offer KidzMondo customers the children’s edutainment city in
best toy retail experience as they Qatar. This venture will enable
will have access to a wide us to extend our range of
variety of children’s favorite toys products to all the kids in Qatar.
in one spot where the kids enjoy We believe that bringing Yalla
edutainment activities. Toys closer to KidzMondo’s
Commenting on the venture, guests will give them options to
Andy Keeling General Manager choose from a wide array of toys
of Aura Entertainment, said: “We to further enhance their overall
are extremely excited to join experience at the Mall of Qatar.”
forces with Yalla Toys to offer The kid-sized city is regarded as
more options for toys and gifting the ‘city combining education
to our valued guests at Kidz- and entertainment’, featuring an
Mondo. With this collaboration, interactive amusement park
KidzMondo has become a one- developed for and managed
stop shop for toys, gifts, and sou- solely by children between the
venirs. With the season of gifting ages of two and 14. The self-suf-
around the corner, our Venture ficient city, with its own
with Yalla Toys couldn’t have economy and currency, includes
come at a better time.Thomas over 80 establishments across
Jacob Director of Sales and Mar- diverse business environments
keting from Yalla Toys said: “We and allows children to dress up
are delighted to announce our and role-play realistic tasks in
long-term strategic partnership a safe, interactive, and educa-
with KidzMondo, the largest tional environment.
GCC economies
set to get extra
boost from
FIFA World Cup
Qatar 2022
FROM PAGE 19
The authorities have been
implementing a 10-year
roadmap of projects for 2015-
2024 to diversify the economy,
as part of Qatar National Vision
2030, and prepare for the World
Cup. We estimate the govern-
ment’s capital expenditure to
average 13 percent of GDP over
2015-2022. The projects have
focused on roads, a new metro
and sewage system, hospitals,
and schools. These investments
would have taken place with or
without the World Cup. Direct
spending on sporting facilities
to house World Cup events has
been small in comparison,
budgeted at about 3 percent of
GDP.
Regarding the benefit wider
GCC will get from the World
Cup, S&P report noted said, “We
expect so. Qatar’s Supreme
Committee for Delivery and
Legacy is confident there will
be no shortfalls in accommo-
dation, with up to 130,000
rooms for the one-million-plus
fans expected during the 28-day
event. Accommodation options
in Qatar include two cruise ships
with more than 4,000 cabins,
and fan villages at four different
locations. People can also stay
in apartments, villas, holiday
homes, Bedouin tents, and
caravan villages. We expect that
neighboring GCC countries will
also host large numbers, bene-
fiting their aviation and tourism
sectors.” Although we see
spillover effects across the
region, we expect Dubai (not
rated) to be the main beneficiary
outside of Qatar, given its geo-
graphical proximity and its
already well-established
tourism offering, major attrac-
tions, airline connections with
the region and the world, and
multiple-entry tourist visas for
World Cup ticket holders.

QetaiFAN Beach Fest to welcome over Malaysian economy records

30,000 fans from Nov 19 to Dec 18
THE PENINSULA — DOHA
QetaiFAN Beach Fest Powered by
Unit-Y will welcome Playing for
Change Foundation and their
artist ambassadors in a part-
nership to help build and support
more schools of music and arts
education across the globe
creating social change in cele-
bration of the World Cup in Qatar,.
Taking place from the
November 19 to December 18,
QetaiFAN Beach Fest will
welcome close to 30,000 fans
daily to Qetaifan Island North,
located in the city of Lusail, to
enjoy a full variety of enter-
tainment options and live music
from major international artists.
In the interests of the needs of the
world and those less fortunate,
QetaiFAN Beach Fest is proud to
join Playing for Change Foun-
dation as its official philanthropic
partner.
Playing for Change Foun-
dation leverages individual cul-
tures to help the next generation
rise beyond the circumstances
they are facing to build a future
for themselves, creating social and
economic impact on their com-
munities. As we see so many cul-
tures gather together in Qatar
from every corner of the globe,
this partnership will allow each
individual attending the festival
to positively impact many of the
countries they are coming from
and others unable to participate,
all through the universal language
and power of music.
The artists performing during
the festival will be partners in not
only providing incredible enter-
tainment and music to those
attending, but also will be helping
children worldwide rise through
their own culture, with greater access
to education and a positive future.
With programs already oper-
ating in 15 countries and influ-
encing thousands of students
every day, Playing for Change
Foundation looks to utilize the
proceeds from QetaiFAN Beach
Fest to significantly expand the
arts education reach and offerings
in the MENA region, and beyond.
“We could not be more
grateful to the partners of
QetaiFAN Beach Fest and the
hundreds of artists participating
from across the globe. It is truly
an honor for Playing for Change
Foundation to be joining
QetaiFAN Beach Fest as their
charitable partner. The funds
raised will go toward helping
children in the areas of greatest
need to rise up through their own
culture and create social impact
in their communities,” said Jake
Groshong – CEO of Playing for
Change Foundation.
14.2% growth in Q3 of 2022
QNA — KUALA LUMPUR
Malaysian economy recorded
a growth of 14.2 percent in the
third quarter of 2022,
supported by the increasing
domestic demand, the
recovery of labor markets and
exports of electrical and elec-
tronic products.
Governor of the Central
Bank of Malaysia Nor
Shamsiah binti Mohd Yunus
said that the boost to growth
was partly due to the lower
base impact, as a result of
strict containment measures
in the third quarter of last
year.
She stated that based on
the good growth recorded in
the first nine months of 2022,
the overall growth in 2022 is
expected to exceed 7.0
percent.
The Governor added that
economic crises are usually
associated with a GDP con-
traction, high unemployment,
business closures, and the
failure of financial interme-
diation, meanwhile Malaysia's
economy have not seen these
indicators and that GDP has
grown in four consecutive
months since the last quarter
of 2021.
She noted that the service
sector grew by 16.7 percent,
the manufacturing industry by
13.2 percent, agriculture by 1.2
percent, mining by 9.2 percent
and construction by 15.3
percent.