Qatar Economic and Business Insights (03. August 2021): Microsoft, Ooredoo Qatar Launch Smart City Solution on Azure Cloud, Exports at 3-month Low as Condensates Dip

MRDS to disclose its semi-annual financial results on August 11 – Mazaya Qatar Real Estate Development (MRDS) will disclose its financial statement for the period ending June 30, 2021 on August 11, 2021. (QSE)

QGMD to disclose its semi-annual financial results on August 12 – Qatari German Company for Medical Devices (QGMD) will disclose its financial statement for the period ending June 30, 2021 on August 12, 2021. (QSE)

QFBQ to disclose its semi-annual financial results on August 11 – Qatar First Bank (QFBQ) will disclose its financial statement for the period ending 30th June 2021 on 11/08/2021. (QSE)

BLDN to hold its investors relation conference call on August 18 – Baladna (BLDN) will hold the conference call with the Investors to discuss the financial results for the Semi-Annual 2021 on August 18, 2021 at 12:00pm, Doha Time. (QSE)

MCCS to hold its investors relation conference call on August 12 – Mannai Corporation (MCCS) wiil hold the conference call with the Investors to discuss the financial results for the Semi-Annual 2021 on August 12, 2021 at 02:00pm, Doha Time. (QSE)

Mekdam shares rise 46% on debut – Mekdam Holding Group Monday shot up as much as 50% upon debut but finally closed 45.64% higher when its 5.6mn shares came up for trading, thus becoming the second entity in the venture market (QEVM) of the Qatar Stock Exchange (QSE). Using the direct listing option, the shares of Mekdam got listed with the symbol “MKDM”. Its entry was marked by the customary bell ringing by Mekdam Chairman Sheikh Mohamed bin Nawaf bin Nasser Al-Thani in the presence of senior officials of the both the company and the bourse. (Gulf-Times.com)

Microsoft, Ooredoo Qatar Launch Smart City Solution on Azure Cloud – Microsoft Qatar alongside a global consortium of partners led by Ooredoo to bring to life the TASMU Platform, a one-of-a-kind smart city solution. Built on Microsoft’s highly available, scalable, and secure Azure cloud infrastructure, TASMU Platform’s advanced and intelligent services will evolve the country’s digital ecosystem for all enterprises, start-ups, entrepreneurs, and citizens. The platform functions as a digital marketplace that streamlines the coordination of public services across all five sectors, thus driving the adoption of smart solutions for service providers and service consumers across Qatar. (Bloomberg)

Qatar sovereign fund discloses 4.69% stake in Quantumscape Corp – Sovereign wealth fund Qatar Investment Authority (QIA) holds a 4.69% stake in Quantumscape Corp, which is developing batteries for electric cars, a Securities and Exchange Commission filing by the company showed. QIA was an early investor in the company before its IPO and had a stake of 6.5% as of November last year, based on a previous filing. However the new filing does not show any change in the number of shares it owns, but a dilution in its stake due to an increase in the number of shares outstanding. QIA's stake in Quantumscape is worth around $446mn at the company's current market value of $9.5bn, according to Refinitiv Eikon data. Quantumscape was listed last year after a merger with a special purpose acquisition company (SPAC). (Bloomberg)

CRA approves wholesale charges for telecom networks services and products for 2021, 2022, 2023 – The Communications Regulatory Authority (CRA) issued an order to direct Ooredoo Qatar and Vodafone Qatar to implement specific wholesale charges for 2021, 2022, and 2023. Wholesale charges are the price that telecom service providers pay to each other to interconnect and access their networks, for example, termination services, interconnection link services, transmission link services, and duct products. The CRA issued the order with the aim of maintaining a competitive, fair, and developing telecom sector in Qatar. Under this order, the telecom service providers started implementing the set wholesale charges from June 1, 2021. The CRA’s order will remain in effect until the CRA issues another order amending the wholesale charges. The new charges supersede the previous ones and are applicable for telecom service providers’ Reference Offers approved by the CRA. (Gulf-Times.com)

Qatar Tanker Tracker: Exports at 3-month low as condensates dip – Qatar’s oil exports slipped to a 3-month low in July due to a sharp decline in condensate shipments, coupled with a plunge in flows to India. Total observed crude and condensate exports dropped to 892k barrels per day last month, the lowest since April. That compared with a revised 999k b/d in June, when flows hit an eight-month high, according to tanker- tracking data compiled by Bloomberg. Condensates exports, which emerge from Ras Laffan, dropped by 26% to 247k b/d, the lowest since February; crude exports slipped by 3% to 645k b/d. Exports to India more than halved to 32k b/d, while flows to South Korea shrank by 35% to 129k b/d; destinations of about 118k b/d are still unknown. (Bloomberg)

QMC launches new platform for Shura Council candidates – The Media Support Committee for the Shura Council Elections of Qatar Media Corporation (QMC) has launched a new website https://shuraelections.gov.qa that allows candidates to appear in the media through multiple media platforms with fair and equal opportunities; aiming at assisting candidates wishing to nominate themselves for the membership in the upcoming Shura Council to present themselves and their programs to the electorate in the electoral districts through Qatar Media Corporation. The new website will provide a number of services including personal photography, filming an introductory video for the candidate and his electoral program, audio recording, graphic design, a television interview and a radio interview. (Gulf-Times.com)

PTSC secures Gallaf Batch 3 deal in Qatar – PTSC Mechanical & Construction (PTSC M&C) has signed a contract for Gallaf Batch 3 Project – EPCI05 (Package 5) with North Oil Company, a joint-venture between Qatar Petroleum and Total Energies. The contract signing ceremony was held online due to Covid-19 restrictions with the participation of senior representatives from all sides. Gallaf Batch 3 is the next developmental phase of the Al Shaheen oil field, Qatar’s largest offshore oil field and one of the largest offshore oil fields in the world. The oil field is operated by North Oil Company. The EPCI05 package is part of the Gallaf Batch 3 Project including two wellhead platforms with a total weight up to 19,000 tons. PTSC M&C has been awarded the main EPCIC contract for Package 5, which involves detailed design, procurement, construction, pre-commissioning, commissioning, load-out, sea- fastening, transportation and installation, hook-up and offshore commissioning. All onshore works will be carried out at PTSC M&C's fabrication yard in Vung Tau City, southern of Vietnam. This contract will take three years to complete. (Bloomberg)

Doha Metro to operate on August 6 – Qatar Railways Company (Qatar Rail) has announced the operation of Doha Metro services on August 6 (Friday) from 2pm to 11.59pm to support the movement of people during the temporary road closure along the Corniche between August 6 and 10. Metro services will be suspended again on two Fridays (August 13 and 20) to allow for system upgrades to take place, a tweet explained. (Gulf-Times.com)

FIFA Arab Cup Qatar 2021 tickets to go on sale today – FIFA Arab Cup Qatar 2021 tickets will go on sale on Tuesday, the Supreme Committee for Delivery and Legacy (SC) has announced. The first FIFA pan-Arab football tournament, featuring 16 teams from across the Arab world, is scheduled from November 30 to December 18, 2021. Starting at 12noon today, Visa cardholders will have an exclusive opportunity to apply for tickets via FIFA.com during the Visa Presale for the FIFA Arab Cup Qatar 2021, it was explained in a SC statement yesterday. (Gulf-Times.com)