Qatar Today June 2019 by Oryx Group of Magazines

Ideas that shape your world start here. Carnegie Mellon University attracts a certain type of student: motivated, inventive and driven to make a difference. Students come to Carnegie Mellon to learn, create and innovate with the very best. They leave with the passion, connections, credentials and lifelong friends who will help them change the world. www.qatar.cmu.edu

Biological Sciences • Business Administration • Computational Biology • Computer Science • Information Systems

inside this issue June 2019 / Vol. 45

16 KEY TAKEAWAYS FROM QATAR’S FIRST EVER BANK MERGER

28 FILLIP TO LNG SHIPPING INDUSTRY

22 PRIVATE SECTOR CAN PLAY A LARGER ROLE

42 BEWARE OF UNKNOWN SECURITY THREATS

Mirroring a trend seen across the Gulf, two lenders in Qatar announced the country’s first bank merger in a move officials say will support economic growth and the development of the financial and private sectors.

Government has been playing an active role in promoting and strengthening the education sector across all three major sub-sectors i.e. primary, secondary and higher education.

There has been excitement in the air about the global LNG shipbuilding industry after state-owned Qatar Petroleum (QP) invited tenders from qualified companies to supplying around 100 LNG carriers over the next decade, Qatar Today found out.

Just because you haven’t detected a breach, doesn’t mean one hasn’t occurred. Proactive threat hunting identifies hidden attackers, points out blind spots in your defences, and prepares your environment for handling future incidents. 1 > QATAR TODAY > JUNE 2019

inside this issue June 2019 / Vol. 45

07 AMIR VISITS KUWAIT

08 DOHA METRO DRAWS HUGE CROWDS

07 AL WAKRA STADIUM INAUGURATED

09 CROWNED WINNERS TAKE HOME THE AMIRI CUP

and regulars

2 > QATAR TODAY > JUNE 2019

NEWS BITES

OIL & GAS REVIEW

BANK NOTES

REAL ESTATE

MARKET WATCH

AUTO NEWS

DOHA DIARY

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from the desk June 5 marked the completion of two years of the trade and travel embargo imposed on Qatar by a handful of neighouring Arab states but the country has managed to overcome the crisis, moved away from dependence on them and opened new trade routes. The boycott has proved to be a blessing in disguise for the country which is on the path to achieving self-sufficiency. On the other hand, the blockading nations, despite their global campaign, did not dent Qatar’s image. However, efforts by some countries to bring an end to the deadlock are ongoing — let us hope they will soon bear fruit. With the US-Iran tensions mounting in the aftermath of attacks on vessels passing through the Gulf in the last few weeks, Qatar has donned the role of “peacemaker” and has been in touch with the leaders of both sides urging them to engage in negotiations and ensure peace in the region. Expressing concern over the developments, Qatar’s Foreign Minister HE Sheikh Mohammed bin Abdulrahman Al Thani said in London that the tensions cannot last long and he believed that at some point there should be an engagement that open the doors for talks. Even other countries such as Oman, Iraq and Japan have been trying to avoid any military conflict as such a situation will not benefit anyone in the region. With the demand for LNG expected to surge in the coming years, it’s time for Qatar to expand its LNG business and one of the major decisions in this direction has been to invite tenders for the supply of 100+ vessels for transportation of the clean fuel in the coming decade. Qatar Today talks to experts on various issues pertaining to the spurt in LNG demand and also how Qatar plans to regain its position as the world’s largest LNG exporter in the face of stiff competition from other countries like Australia, which overtook Qatar as the largest LNG exporter in May this year, the US and Russia among others. Other stories in this issue include has been how the private sector plays an important role in the development of education sector and regulars like Doha Diary featuring Qatar’s renowned artist Yasser Al Mulla’s first solo exhibition of his works. Happy Reading

Newsbites > local

AMIR VISITS KUWAIT

is Highness, the Amir, Sheikh Tamim bin Hamad bin Khalifa Al Thani, and his accompanying delegation were received by His Highness, Kuwaitâ&#x20AC;&#x2122;s Amir, Sheikh Sabah Al Ahmad Al Jaber Al Sabah, in the presence of His Highness the Crown Prince, Sheikh Nawaf Al Ahmad Al Jaber Al Sabah, at Dasman Palace in Kuwait on

May 19. During the reception, the Qatari Amir and his delegation congratulated the Kuwaiti Amir on the holy month of Ramadan. In their conversation, the two leaders discussed the deeply rooted relations between the two countries and peoples and the means to bolster them in various

AL WAKRA STADIUM INAUGURATED

ala and gaiety marked the muchawaited inauguration on May 16 of Al Wakra Stadium, one of the many that will host the 2022 FIFA World Cup in Qatar. The Al Wakrah Stadium is the second World Cup stadium to be completed after Khalifa International Stadium in May 2017. The installation of its pitch was completed in a world record time of just 9 hours and 15 minutes.

The stadium, which is inspired by the design of a dhow boat inverted for maintenance, will be a qualitative addition to Al Wakrah as it will offer many facilities around the stadium which will be operational before and after the World Cup. These facilities include cycling and running tracks, a multipurpose indoor arena, mosque, wedding hall and market. Visitors and fans during the World Cup will be able

domains to serve common interests. They also tackled the latest international and regional developments and issues of mutual interest. The meeting was also attended by National Assembly Speaker Marzouq Al Ghanim, His Highness the Prime Minister, Sheikh Jaber Al Mubarak Al Hamad Al Sabah, and senior state officials.

to spend their time in the stadium facilities before and after matches. The total area of the project is said to be about 600,000 sq m, of which 150,000 sq m is dedicated to the stadium, and 90,000 sq m of green landscapes and nearly 700 trees. The rest is divided between the various facilities such as cycling and horse racing tracks, Kahramaa power station and other services. 7 > QATAR TODAY > JUNE 2019

Newsbites > local

DOHA METRO DRAWS HUGE CROWDS

atar Rail witnessed a huge rush during the first two days as the company announced on its social media account that 86,487 people used the Doha Metro. In a tweet, the company said: “We are pleased with the high ridership Doha Metro witnessed

during the first two days of its launch, which affirms the instrumental role Doha Metro will play in transforming the public transport sector.” According to the graph, 37,451 riders used the metro rail on the first day, while 49,036 used the service on the second day. The preview service for the first part of the

Doha Metro’s Red Line began from Al Qassar in the north to Al Wakrah in the south. With a train every six minutes, the train operates from 8 a.m. to 11 p.m. on weekdays. The service will be stopped on weekends to continue with the work required to open more stations and lines.

AMIR ATTENDS QF’S ANNUAL CONVOCATION

is Highness, the Amir, Sheikh Tamim bin Hamad Al Thani, and HE Sheikha Moza bint Nasser, Chairperson of Qatar Foundation (QF), attended QF’s annual Convocation ceremony, honouring the academic achievements of 786 new QF graduates. Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani, HE Sheikha Hind bint Hamad Al Thani, Vice Chairperson and CEO, Qatar Foundation, and HE Sheikh Joaan bin

8 > QATAR TODAY > JUNE 2019

Hamad Al Thani, President of Qatar Olympic Committee, also attended the event. The Class of 2019 now joins QF’s growing global alumni network – which already has more than 5,000 members – having graduated in fields including medicine, engineering, art and design, computer science, law, communication, and Islamic studies. HE Sheikha Hind said: “For our Class of 2019 graduates, Convocation is many things: a personal and shared celebration, a source of pride, and a time to reflect on their achievements and experiences at Education

City. It is a culmination – but it is also a beginning. “At Convocation, the talented, dedicated, and ambitious young people that Qatar Foundation is proud to have called our students step out of one phase of their lives and into the next. A future that holds challenges and possibilities awaits them, but wherever their path leads, they will travel it empowered by the knowledge that they are as well equipped to create, innovate, contribute and thrive as any set of graduates in the world,” she said.

CROWNED WINNERS TAKE HOME THE AMIRI CUP

is Highness the Amir Sheikh Tamim bin Hamad Al Thani crowned the Al Duhail Sports Club with the Amiri Cup for winning the final match of the game held

at Al Janoub Stadium. His Highness the Amir brought honour to the players of Al Duhail Sports Club, who came out as champions in the game, by awarding them with the cup and presenting the

players with gold medals. Although the Al Sadd players took second place, they were still immensely grateful for taking home silver medals awarded by the Amir himself.

QATAR SENDS $480 MILLION TO PALESTINIANS

atar has sent $480 million to Palestinians in the occupied West Bank and the besieged Gaza Strip after a ceasefire deal ended the deadliest fighting between Israel and Palestinian factions since a 2014 Israeli assault on the enclave. Of this amount, $50 million is a grant and $250 million is a loan to be paid out in monthly installments of $21 million. The remaining $180 million will be transferred to Gaza and be overseen by the Qatari Fund for Development. A statement from Qatar’s Foreign Ministry said that $300

million would support health and education programmes of the Ramallah-based Palestinian Authority (PA), which controls parts of the West Bank. Meanwhile, $180 million would go towards “urgent humanitarian relief” in United Nations programmes and towards electricity. In a statement, Hamas’s political chief Ismail Haniya welcomed the move and thanked His Highness the Amir Sheikh Tamim bin Hamad Al Thani. “I express my thanks and gratitude to Qatar’s Amir and to the government and people of Qatar for this move reflecting the generosity of Qatar,” Haniya said. 9 > QATAR TODAY > JUNE 2019

affairs > local

QATAR’S FIRST PROSTHETIC HOSPITAL OPENS IN GAZA STRIP

atar opened the first prosthetic hospital and a disability rehab centre in the Gaza Strip, overcoming obstacles that delayed the muchneeded project in the besieged Palestinian enclave. Rafat Lubad, the local director of the

hospital, said the facilities are more essential now than ever as more than 130 Palestinians have had amputations over the past year after being shot by Israeli soldiers during protests along the Gaza-Israel perimeter fence. Hamad Hospital, named after Father Amir

QC HOLDS OVER 170 EVENTS IN 2018

atar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al Thani said that QC had organised more than 170 events, including conferences, symposiums and meetings in 2018. QC also hosted some 100 international business delegations, conducted seven visits for Qatari businessmen to various countries , and issued 1,453 certificates of origin online and more than 35,000 certificates of origin the traditional way. He said 2018 was an exceptional year in which QC and the private sector achieved successes at all levels and Qatar was able to overcome the blockade and continue to grow economically. Qatar became the world’s largest liquefied natural gas (LNG) producer last year along

10 > QATAR TODAY > JUNE 2019

with many other achievements at various levels and fields. According to him, QC’s achievements were part of its pioneering role in serving, representing and protecting the private sector. QC is currently working on adding new electronic services to its website to facilitate the clearance of transactions for members and save time and effort spent on those procedures. QC strengthened its efforts in training and developing human resources, established its cooperation with a number of local training centres and held 12 training programmes in addition to a number of arbitration courses organised by the Qatar International Centre for Conciliation and Arbitration, Sheikh Al Thani added.

of Qatar, has 100 beds and offers services to people who lost their limbs because of conflict or accidents. Children with hearing impairment or motor disabilities can find treatment in the state-of-the-art, 12,000 sq m facility.

VODAFONE MAKES 5G SMARTPHONES AVAILABLE

odafone Qatar continues to mark 5G milestones, as the company will be the first in the region to make highly anticipated 5G smartphones available to its customers. Vodafone Qatar has opened pre-orders for a limited number of the Xiaomi Mi MIX 3 5G. The news was unveiled at Galeries Lafayette Doha, Vodafone Qatar’s exclusive partner for the smartphone’s pre-order and collection phases. Vodafone Qatar’s CEO Sheikh Hamad Abdulla Al Thani handed the first locally available Xiaomi Mi MIX 3 5G to Adel Ali bin Ali, Chairman & President of Ali Bin Ali Holding, that operates Galeries Lafayette Doha, in the presence of Nabeel Ali bin

Ali, Vice-Chairman & EVP of the Group. Intertec Group, the sole distributor of Xiaomi in Qatar, was represented by its Managing Director, Abdulla Khalifa Al Subaey, and Divisional Manager, Asraf NK.

QATAR FIRST IN GCC MOBILE INTERNET SPEED Speedtest Global Index April 2019 Data

Ranking mobile and f ixed broadband speeds from around the world on a monthly basis.

Mobile Global Average

Fixed Global Average

26.96

58.66

Download Mbps

28.99 Upload Mbps

1. Norway

65.41

1. Singapore

197.50

2. Canada

64.42

2. Hong Kong (SAR)

172.67

3. South Korea

63.81

3. South Korea

144.76

4. Netherlands

61.75

4. Romania

130.44

5. Qatar

59.90

5. Andorra

128.25

6. Australia

58.87

6. Monaco

128.14

7. United Arab Emirates

56.33

7. Hungary

121.52

8. Switzerland

53.63

8. Switzerland

118.60

9. Singapore

53.12

9. United States

118.46

10. Malta

atar has been ranked first in the Gulf region and fifth globally on the mobile Internet speed index at 59.90 Mbps, followed by UAE in seventh place globally at 56.33 Mbps, Saudi Arabia in 35th place globally at 35.06 Mbps, Oman in 36th place at 35.06 Mbps and Bahrain in 59th place at 26.37 Mbps,

10.40 Upload Mbps

51.62

according to Speedtest Global Index, which ranks mobile and fixed broadband speeds from around the world on a monthly basis. The Index also ranked Qatar first among all Gulf countries and 39th globally in terms of fixed broadband Internet speed for the month of April with a speed of

10. Sweden

117.02

62.65 Mbps. The Index indicated that the upload speed in Qatar reached an average of 16.6 Mbps from the mobile Internet and 32.20 Mbps from the fixed broadband Internet. Norway ranked first globally in terms of mobile Internet speed at 65.41 Mbps, followed by Canada at 64.42 Mbps and S. Korea at 63.81 Mbps. 11 > QATAR TODAY > JUNE 2019

business > oil&gas AL SAFIYA SETS T NEW WORLD RECORD

he largest LNG vessel by cargo capacity being operated by Qatargas became the first Q-Flex type LNG vessel to transit the Panama Canal on May 12. The Q-Flex vessel with a cargo carrying capacity of 210,000 cu m of LNG, a length of 315 m and width of 50 m, successfully completed the 82 km transit according to the plan and established a new world record. HE Saad Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, said: “This achievement adds yet another benchmark to its capabilities of Qatargas as a safe and reliable LNG company. Qatar is committed to enhancing the depth and flexibility of our global LNG supply portfolio even further and this milestone achievement will undoubtedly lead to future business opportunities.” The successful transit of Al Safliya through the Panama Canal creates future triangulation opportunities for the 31 Qatari Q-Flex vessels, allowing them to discharge cargoes in the Pacific Basin and then proceed to the Atlantic Basin to load their next cargo.

QP AWARDS EIGHT QATAR SHIPS LNG DRILLING RIG CONTRACTS TO UAE AFTER DOLPHIN PIPELINE OUTAGE

olphin, a major gas pipeline from Qatar to the United Arab Emirates, experienced an outage for several days last month and Qatar filled the gap with additional liquefied gas supplies, according to a report from Reuters.

atar Petroleum has awarded contracts for eight offshore Jackup Drilling Rigs required for the North Field Expansion Project. The drilling rigs are planned to be mobilised and ready for drilling activities starting from January 2020. Contracts for six of the eight rigs were awarded to Gulf Drilling International (GDI), while those for the remaining two rigs were awarded to Northern Offshore Drilling Operations Limited, operating out of the US. The drilling programme planned for the eight rigs is a major component of the expansion project to increase Qatar’s LNG production capacity from 77 MTPA to 110 MTPA. The scope includes the drilling and completion of 80 new wells from eight wellhead platform locations. Contract awards for jacket fabrication were already made earlier in April 2019.

Dolphin supplies 2 billion cubic feet of natural gas per day from Qatar’s North Field to customers in the UAE. The project is owned by Dolphin Energy Limited, which in turn is owned by the UAE’s Mubadala with 51%, Total with 24.5% and Occidental with 24.5%. The pipeline encountered a major failure in Qatar’s territory in mid-April resulting in a shutdown of all of its facilities for several days which resulted in significant curtailment of gas supplies to the UAE. Qatar Petroleum helped Dolphin by shipping repair materials. It also backed up gas supplies by shipping LNG to the UAE. A shutdown of the 364 km Dolphin pipeline, which links Qatar’s giant North Field with the UAE and Oman, would cause major disruptions to the UAE’s energy needs.

WORK ON GOLDEN PASS LNG EXPORT TERMINAL BEGINS

xxon Mobil Corp and Qatar Petroleum told the US Federal Energy Regulatory Commission (FERC) that they would start construction of the QR36,.4 billion ($10 billion-plus) Golden Pass liquefied natural gas (LNG) export terminal in

12 > QATAR TODAY > JUNE 2019

Texas on May 13, according to Reuters. Exxon and Qatar Petroleum made a final investment decision to build the project in February and expect the project to enter service in 2024. Golden Pass is designed to produce around 16 million tonnes per annum

(MTPA) of LNG, equivalent to about 2.1 billion cubic feet per day (BCFD) of natural gas. After exporting no LNG at the start of 2016, the United States is expected to become the third biggest LNG exporter in the world in 2019 behind Australia and Qatar.

AD FLIK CINEMAS In celebration of the Holy month of Ramadan, Flik Cinemas, in collaboration with Funderome, organized an Iftar gathering for the children of Hope Qatar Centre. The gathering included an Iftar presented by Casper and Gambini’s. After the Iftar, the children enjoyed an hour full of games and activities at Funderdome Mirqab Mall followed by screening of Dumbo at Flik Cinemas Lagoona Mall – Level 1 +974 4443 2757

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business > bank notes QCB TO IMPLEMENT QFMA’S STOCK SPLIT DIRECTIVE

“Q1 HAS BEEN A GOOD QUARTER FOR QATARI BANKS. BALANCE SHEETS GREW 5-6%, MARGINS WERE STEADY AND ASSET QUALITY REMAINED BENIGN. ALL OF THIS LED TO ENCOURAGING YEAR-ON-YEAR PROFIT GROWTH.” AKBER KHAN Senior Director of Asset Management Al Rayan Investment

ISLAMIC BANKS’ ASSETS RISE BY 1.77%

he total assets of Qatar’s four Islamic banks rose by 1.77%, while their financing assets climbed by 3.81% in the first nine months of 2018, Oxford Business Group said in a report. The sector also remained profitable during this period, with y-o-y (year-on-year) net profit showing an 8.36% gain. Importantly, the margins secured during this “challenging” period were made without any significant deterioration in financial stability indicators, OBG said in its “The Report: Qatar 2019.” According to Malaysia-based Islamic Financial Services Board, Qatar’s four Islamic banks - QIB, Masraf Al Rayan, QIIB and Barwa - Bank showed a capital adequacy ratio of 17.3% in the second quarter of 2018, against 17.5% at the end of 2016. Non-performing financing, meanwhile, showed only a modest gain over the same period, rising from 0.6% to 1.2%. “Qatar’s four Islamic banks have also to some degree been protected from the diplomatic rift by their focus on the domestic market,” the OBG report said.

QNB COMPLETES FORMOSA BOND ISSUANCE

NB Group, rated A by S&P, A+ by Fitch and Aa3 by Moody’s, announced another successful completion of a Formosa bond issuance under its Euro Medium Term Note (EMTN) programme, dual listed on the Taipei and London Stock Exchanges.

Under this programme, a QR3.09 billion ($850 million) tranche was issued with a maturity of three years. The issuance was part of QNB Group’s strategy to diversify funding from new markets. The Reg S issue attracted strong interest from investors globally, especially Asia, and was arranged by Standard Chartered Bank (Taiwan) Limited. This success confirms the trust of international investors in QNB Group’s strategy and the strength of its financial position. 14 > QATAR TODAY > JUNE 2019

atar Commercial Bank, Qatar’s first private bank, has announced it will implement Qatar Financial Markets Authority’s (QFMA’s) stock split directive on June 9, being the first company in Qatar to implement the directive. QFMA’s directive issued in December 2018 seeks to regulate the stock split of companies listed on Qatar Stock Exchange (QSE). The directive stipulates that the nominal value of a share shall be reduced from QAR 10 to QAR 1, an initiative that aims to appeal more to investors, especially small and retail investors; increase liquidity in the market; and ultimately improve a stock’s price and valuation. Commercial Bank shareholders do not need to take any action due to the share split. Shareholders’ holdings will be automatically adjusted as of June 9, resulting in a multiplication of the number of shares owned by each and every shareholder by 10. The proportionate ownership of existing shareholders and Commercial Bank’s market capitalisation will not change as a result of the share split. Commercial Bank’s total number of shares will increase from 404,725,375 to 4,047,253,750, at a nominal value of QR1. Commercial Bank’s paid-up capital will remain unchanged at QR4,047,253,750, divided into 4,047,253,750 ordinary shares with the nominal value of each share being QR1.

QIB WINS 3 AWARDS FROM GLOBAL FINANCE

atar Islamic Bank (QIB) has been recognised as the “Best Islamic Financial Institution in Qatar” and the “Best Islamic Financial Institution in Sudan,” by the New York-based Global Finance magazine. “Over the past few years, we have been consistently outperforming the market, strengthening our relationship with our customers and providing our shareholders with positive results. This has placed us at the forefront of Islamic finance in the world,” said QIB’s group chief executive Bassel Gamal. Highlighting that a key factor that contributes to its growth is the resilience of Qatar’s banking sector and the overall national economy; he said the bank’s strategy was closely tied with the Qatar National Vision 2030, the government’s commitment to investing in the country’s infrastructure, the diversification of the economy, and the development of a strong private sector.

New Timings:

Saturday to Wednesday Thursday to Friday

01:30 to 11:00 pm 01:00 to 11:00 pm

business > bank notes KEY TAKEAWAYS FROM QATAR’S FIRST-EVER BANK MERGER

n April 21, Barwa Bank and the International Bank of Qatar (IBQ) signalled the finalisation of negotiations and clearance of regulatory requirements necessary to consolidate operations. The merged entity, which will operate as Barwa Bank, will have total assets of more than QR80 billion ($22 billion) and a shareholder equity base of over QR12 billion ($3.3 billion). Notably, the merger resulted in the consolidation of an Islamic bank – Barwa Bank – with conventional IBQ, with the new institution offering shariacompliant services.

16 > QATAR TODAY > JUNE 2019

The tie-up is a significant step forward for Qatar’s banking industry, according to Sheikh Mohammad bin Hamad bin Jassim Al Thani, chairman and managing director of Barwa Bank. “This merger is a momentous milestone for the local banking sector, regional mergers and acquisitions (M&A) landscape, and sharia-compliant banking industry,” he said while announcing the finalisation of the deal. The merger will create the thirdlargest Islamic and sixth-largest overall bank in Qatar, with the consolidated lender having a 5% share of the market,

according to ratings agency Moody’s. The new bank, which will also be the ninthlargest sharia-compliant lender in the GCC, is expected to benefit from lower funding costs and improved profitability. CHANGING MARKET DYNAMICS Qatar’s banking sector is undergoing broader changes, as well, including a shift towards digital banking, which will likely see a reduction in branches and physical presence in the coming years. This will impact all aspects of the industry, from retail and private banking to investment and international banking,

according to Dr Raghavan Seetharaman, CEO of Doha Bank, and could prompt further consolidation in the sector. “Consolidation is a game-changer in the market,” Dr Seetharaman told OBG. “Globalisation and new cost structures, as well as digitalisation and consumerism, are pushing banks to redefine the business model in order to address pressures and sustain growth.” While M&A and the subsequent integration of infrastructure will create new opportunities and entities with increased capital, it is important to ensure shareholders remain satisfied and margins stay healthy, he added. These changes will be imperative in creating a well-capitalised and resilient sector, especially in the aftermath of the blockade imposed by Qatar’s regional neighbours. Ratings agency Standard and Poor’s (S&P) forecast deterioration in asset quality and an increase in credit losses due to fallout of the blockade but anticipates the impact on the sector will be manageable. “The Qatari banks’ strong capital generation and funding profiles, backed by public sector deposits, should further support the banking system,” S&P said in its May 11 assessment of the Qatari economy, projecting that weaker asset metrics would recover in 2020.

The rating agency further noted that investments related to infrastructure development would help cushion the economy. It would seem to follow that this applies in particular to larger banks, such as the one created through the merger, which could have greater capacity for project finance. REGIONAL TRENDS, SHIFTING FOCUS Mergers are being utilised throughout the Gulf to shrink operational and funding costs, improve profitability and reinforce asset bases and risk-management capacity amid tighter market conditions and slower economic growth. Across the region, banking sector consolidation is also strengthening efforts to reduce vulnerability to unpredictable oil prices and shift from economies dependent on hydrocarbons to knowledgebased markets driven by private sector development. The Barwa Bank-IBQ merger is in line with Qatar’s blueprint for social and economic development, Vision 2030, released in 2008 after a sharp fall in oil prices. Vision 2030 aims to enhance financial and economic stability with low inflation rates, sound financial policy, and a secure and efficient financial system.

“MERGERS ARE BEING UTILISED THROUGHOUT THE GULF TO SHRINK OPERATIONAL AND FUNDING COSTS, IMPROVE PROFITABILITY AND REINFORCE ASSET BASES AND RISK-MANAGEMENT CAPACITY AMID TIGHTER MARKET CONDITIONS AND SLOWER ECONOMIC GROWTH.”

This Qatar economic update was produced by OBG Qatar.

17 > QATAR TODAY > JUNE 2019

business > Real Estate QIA BUYS CHUNK OF MANHATTAN PORTFOLIO

atar Investment Authority (QIA) and private realty firm Crown Acquisitions said they were the unnamed investors in a deal with Vornado Realty Trust valued at $5.56 billion that involves a portfolio of prime New York retail properties, according to a Reuters report.

Vornado sold a non-controlling stake in its portfolio of properties along Fifth Avenue and Broadway in Times Square in a transaction that provided the firm cash proceeds of about $1.2 billion, the firm said. QIA and Crown Acquisitions, which acted as an advisor to the deal, said they acquired a 24% stake each in a portfolio of five groundlevel stores along a swath of Fifth Avenue just north of St. Patrick’s Cathedral and two sites in Times Square. The deal comprised $950 million of mortgage debt, $1.83 billion of preferred equity entirely held by Vornado and $2.78 billion of common equity in which Vornado holds 51%. The portfolio includes stores at 666 Fifth Avenue, a building that has been in the news because it was owned by the family of Jared Kushner, the son-in-law of US President Donald Trump, until Brookfield Asset Management bought a 99-year lease on the office portion last August. “This investment underlines QIA’s ambition to substantially increase our US investments over the coming years, and our belief in the exciting long-term possibilities offered by New York City,” Mansoor bin Ebrahim Al Mahmoud, QIA’s CEO, said in the statement.

Q JRE LAUNCHES UK PROPERTY SERVICE REAL ESTATE TO FLOURISH THROUGH DOHA METRO Qatar’s real estate sector is forecast to flourish through the Doha Metro project, especially in places near the metro stations. ValuStrat General Manager (Qatar) Pawel 18 > QATAR TODAY > JUNE 2019

atar-based leading property service provider Just Real Estate (JRE) has launched UK Property Management Service, which is exclusively designed for tenants looking for a fussfree stay at JRE properties and to cherish precious moments with their friends and family. Some of the value-added features of the service include coordination with the agent to find a suitable tenant, checking the referencing and negotiating the terms of the assured shorthold tenancy with the agent and the client. The team can also assist the client, if required, to obtain additional insurance to protect against the non-payment of rent and to cover legal costs. Commenting on the launch of the service, Nasser Al Ansari, JRE chairman, said, “With the aim to offer an unmatched service experience to customers, we continuously strive to enhance our portfolio. In line with the constantly changing consumer demands, our property management services aim to manage our customers’ property as if it is our own.”

Banach said: “One of the significant impacts of rail transit projects is the impact on the real estate market. Numerous accounts of recent experiences with the impact of rail transit on property values have surfaced within the past two decades regionally and internationally. Proximity to the metro system in Qatar may potentially become a trigger for real estate activity and development.” He also said that existing and upcoming supply in 2019 will entail further softening of prices,

ensuring Qatar remains a buyer-friendly market over the next quarters of 2019. In a bid to entice tenants and buyers, a range of attractive incentives were offered by landlords. “Furthermore, the recent law amendment of expanding freehold ownership in residential and commercial sectors has provided further incentives to foreign owners to have outright property ownership in Qatar,” he added.

THE CITY OF THE FUTURE QATAR DIAR’S LUSAIL PROJECT AMONG THE LARGEST DEVELOPMENT PROJECTS AROUND THE WORLD, IS A FULLY INTEGRATED, INTERCONNECTED, GREEN RESIDENTIAL CITY STRETCHING ACROSS MORE THAN 38 SQ KM IN ONE OF QATAR’S MOST VITAL AND STRATEGIC LOCATIONS.

nce complete, the city will boast a population of over 200,000 residents, more than 170,000 job opportunities, and around 80,000 visitors. Lusail sits in the centre of Qatar’s National Vision 2030 to create a contemporary, modern city that seamlessly weaves local heritage with cutting-edge technology; a unique city in Qatar, the region, and the world for the residential and commercial experiences it offers. Beyond the luxury facilities, so intricately designed around the needs of visitors and residents, the city is a model of sustainability, hosting schools and hospitals, leisure and entertainment centres, health and medical centres and large shopping centres and malls. Qetaifan Islands, which are considered the gem of Lusail City, offer a unique panoramic sea view and the city’s most exclusive, premium residential areas and projects. By design, the four offshore islands offer residents and visitors, serene elegant and unmatched living experiences. A short distance from the hustle and bustle of Lusail’s city centre and attractions, Qetaifan Islands form an exclusive district and private haven for residents, with only two access points – the first of which

crosses through Qetaifan Island North, owned by Katara Hospitality, and the second through Qetaifan Island South 1. Strategically located off Lusail’s coast, the island cluster promises a mix of cultural experiences, architecture and design. On offer as a freehold project, non-Qataris

will be able to own a range of exclusive residential properties connected to a wide array of commercial projects via the pedestrian bridge, as well as facilities and attractions which uniquely position Lusail as a leading destination for both local and international tourists.

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affairs > arab snippets

ISLAMIC SUMMIT 2019 A handout photo made available by the Saudi Royal Court shows a general view during the Islamic Summit of the Organization of Islamic Cooperation (OIC) in Mecca, Saudi Arabia, 30 May 2019 (issued on 01 June 2019). Muslim leaders from 57 nations gathered in Mecca to discuss the developments regarding Iran, Palestinian statehood and other topics. Saudi Arabia’s King Salman slammed Iran over recent attacks on Saudi and Emirates oil ships, describing the incidents in a speech as “terrorist acts” and a “grave danger” to international energy supplies. Photo source: EPA-EFE/Bandar al-Galoud / Saudi Royal Palace.

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affairs > viewpoint

PRIVATE SECTOR CAN PLAY A LARGER ROLE Government has been playing an active role in promoting and strengthening the education sector across all three major sub-sectors i.e. primary, secondary and higher education.

atar is paying substantial attention to the education sector since it is one of the key economic and social development goals of Qatar National Vision (QNV) 2030. Today, all developmental activities are conducted under the ethos of the “Human Development” pillar of QNV 2030, wherein the “Educated Population and Capable & Motivated Workforce” is the key focus area. The Supreme Education Council (SEC), established in November 2002 by a decree, played a pivotal role in the development and implementation of education reforms in order to fulfill Qatar’s needs of excellent human resources and competencies in diversified sectors. Taking this a step ahead towards realizing the vision, in a decree issued in April 2009, SEC was elevated to the Ministry of Education and Higher Education (ME&HE). COMMENDABLE GROWTH Within the sector, Qatar’s higher education has witnessed commendable expansion in the past few years. Qatar University, which admitted 150 students in its first year in 1973, has now expanded to more than 25,000 students with 60 specialised courses across nine faculties comprising colleges of Arts and Sciences, Business and Economics, Education, Engineering, Health Sciences, Law, Medicine, Pharmacy, Sharia and Islamic Studies among others. Following the establishment of Qatar Foundation in 1995, a new era of competitive options for institutions of higher education commenced in the country. Qatar Foundation, Qatar’s flagship education initiative, is a campus that spans

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more than 12 sq km and houses campuses of eight internationally renowned universities including Texas A&M (2003), Carnegie Mellon University (2004), Georgetown University (2008), Northwestern University (2008), to name a few. It is also home to Qatar’s homegrown research and graduate studies university i.e. Hamad Bin Khalifa University (HBKU), which was established in 2010. Apart from Qatar Foundation, lately a few private universities such as Stenden Qatar (2000), University of Calgary (2007), Sussex University (2016), AFG College with the University of Aberdeen (2017), City College in partnership with University of Portsmouth (2018), etc., have set up campuses in Qatar. Over the last eight years, i.e. from 2012-13 to 2016-17, higher education student population has witnessed a CAGR of 10.5 % from 21,128 to 31,482 students (Refer to Chart 1.0). In comparison, during the same period, the secondary student the population grew by 5.6 %. One of the striking achievements was the reduction of the gap between secondary and higher education over the past four years, that is 1.73 secondary students per higher education students has come down to 1.44 secondary students per higher education students. Even though Qatar witnessed commendable growth in the establishment of higher education infrastructure, it still lags behind its regional counterparts in terms of the “tertiary education gross enrolment rate (see Chart 2.0). The United Nations Educational, Scientific and Cultural Organisation (UNESCO) defines “Gross Enrolment Ratio” as the total enrolment

within a country “in a specific level of education, regardless of age,” expressed as a percentage of the population in the official age group corresponding to this level of education. For the tertiary level, the population used is the 5-year age group starting from the official secondary school graduation age. As significant improvement is required, much-needed support is required from the private sector to improve Qatar’s performance. It is also an excellent commercial opportunity for private universities to expand their global footprint into one of the world’s most promising economies. LIMITED PARTICIPATION Even though there is an inherent demand for higher education in Qatar, the pace of development, especially in the private sector, is lacking. The public higher education institutions, with their mission of stimulating economic growth through research and workforce development, have expanded many-fold in the past few years. However, high-quality tertiary education being offered at subsidised costs, has resulted in continuing pressure on the existing (public) facilities. Private higher education institutions have the opportunity to bridge this gap. It was observed that in the last few years, ME&HE has been highly active in expanding its higher education scope and is quite open to invite private universities to set up their Qatar campuses. With these new Universities, ME&HE is hoping to bridge the gap of courses that are either not offered or are offered with limited enrolment

capacity. As of now the key areas needing support are: • Support for improving alignment with the job market: Qatar’s economy is dominated primarily by the hydrocarbons sector along with other growing sectors such as construction, education, and healthcare. Consequently, these sectors are witnessing higher demand in Qatar’s job market and require industry-specific academic qualifications. For instance, under and post graduate in the construction sector requires academic degrees in fields of civil engineering and other specialised courses such as quantity surveying, construction management, etc. However, on a closer look, under and postgraduate courses in civil engineering are currently offered only at Qatar University with about 400 student’s intake annually. The key qualifications and knowledge required by this sector needs alignment both in course offerings and their price points (course fee). • Support for availability of wide variety of institutions: Specialisations offered by institutions benefit students to select and enroll for academic courses based on institution rankings and the individual eligibility scores. The availability of such choices current in private higher education institutions is limited and thus driving postsecondary students to look for external opportunities for higher education. Further, the establishment of more institutions creates a healthy competition and hence price-check for course fees that may benefit students. • Support for establishment cost: One of the primary concerns of higher education institutions is the set-up and operating cost which includes affiliation to a university or awarding body, infrastructure establishment cost, availability of qualified faculty members and high administrative expenses. Due to the lack of state funding/ assistance, private universities have no option but to recover the entire cost (tuition fees being the major and others such as books and supplies, admission and registration fee, orientation fee and hostel fees) from the students. This rising cost of education for students when measured against the benefit of the academic degree, that is the ability to pay-off higher education becomes difficult for many students resulting in the reduced attractiveness of Qatar as a melting pot for higher education.

• Support for improving functional ease: With a view to create Qatar as a preferred destination for higher education, a more conducive environment/structure must be created to minimise friction for the student movement (to and from Qatar). Regional examples do exist such as establishment of free tertiary education zones to attract globally reputed universities and also from countries of expatriate students. Such strategies may reduce entry barriers for the operators and increase the attractiveness of institutions in Qatar. Existing student visa restrictions could also be relaxed or amended. For example, offering students a post-study extension to allow them to seek employment opportunities; awarding academically outstanding students a visa that allows a longer stay to encourage them to pursue higher education in Qatar; allowing students to pursue part time jobs during the holiday season, etc." Education ministries worldwide take charge to create an ecosystem that allows students to pursue higher education at a reasonable cost with excellent academic qualification, training, etc., and provide opportunities to develop their full potential, preparing for success in the rapidly changing and challenging world. PIVOTAL ROLE Efforts are beingmade to encourage analytical and critical thinking as well as creativity and innovation so as to promote social cohesion and respect for society’s values and heritage that will advocate constructive interactions with other nations. The private sector plays a pivotal role in pursuing such initiatives and it is important for Qatar to leverage the same to address the gaps, challenges and its aspirations of excellence in the higher education sector. Having said that, several growth opportunities for the private sector lie ahead and it is hoped that both the government and private sector can continue to work together and positively contribute to Qatar’s national vision. Private sector can assist in the development of Qatar’s higher education sector by offering courses which are either not offered or are offered with limited capacity. As private sector possess the capability to offer variety of courses for students in all budget segment it can transform Qatar into a melting pot for highlytalented students, thereby improving the quality and competitiveness of Qatar’s education sector.

“THE PUBLIC HIGHER EDUCATION INSTITUTIONS, WITH THEIR MISSION OF STIMULATING ECONOMIC GROWTH THROUGH RESEARCH AND WORKFORCE DEVELOPMENT, HAVE EXPANDED MANY-FOLD IN THE PAST FEW YEARS. HOWEVER, HIGH-QUALITY TERTIARY EDUCATION BEING OFFERED AT SUBSIDISED COSTS, HAS RESULTED IN CONTINUING PRESSURE ON THE EXISTING (PUBLIC) FACILITIES.” ANURAG GUPTA Director Head of Real Estate & Valuations Advisory KPMG Qatar

This Qatar economic update was produced by KPMG Qatar. 23 > QATAR TODAY > JUNE 2019

affairs > viewpoint

PRICE FORMATION AND VOLATILITY: THE ROLE OF DEALERS AND MARKET MAKERS

BY TRISTAN TOMALA AND STEFANO LOVO

In our recent research published in the Journal of Financial Economics, we analyse price formation in a context in which dealers repeatedly compete for the opportunity to trade with retail traders.

e characterise equilibria in which dealers’ pricing strategies are optimal irrespective of the private information that each dealer may possess. We propose a robust model that predicts how the dealers share information and equilibrate the trade. EFFICIENT MARKET THEORY One of the most important concepts in financial economics is the Efficient Market Hypothesis (see the video: What is The Efficient Market Hypothesis - EMH?). It states that when investors endowed with different information about a firm meet in the stock market to trade the firm’s shares, all these different pieces of information will be incorporated into the share market price thanks to the force of supply and demand. Hence, even those who trade in the stock

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market without any particular knowledge about the firm know that the transaction price will be fair as it aggregates the opinion of more informed or more skilled investors. Financial market microstructure is a branch of financial economics that analyses the stock price formation process using the lenses of game theory. Existing studies in this field have demonstrated that the information efficiency hypothesis is theoretically plausible. PRICE FORMATION AND MORE However, to come to this conclusion, most of these studies had to base their analysis on the simplifying assumption that precisely those who set the price in the stock market, i.e., market makers and dealers, share the exact same information about the asset’s fundamentals. Yet, in reality, each dealer

has access to different information, so can we say that market efficiency is plausible in general, i.e., no matter whether dealers have the same information or not? Existing theories have not answered this question. WHAT EXISTING THEORIES DON’T SAY In our research paper, we analyse the price formation process without referring to any adhoc simplifying assumption about the information of dealers. To this purpose first, we distinguish between the relatively few agents that are consistently present in a given market, such as dealers or market makers, and the many agents who intervene occasionally in that market, such as traders or fund managers. Second, we identify equilibria, which do not depend on what each single dealer believes about the firm’s fundamentals, i.e., belief-free

equilibria. In these equilibria, dealers make money over time, no matter what they think the fundamentals are, and no matter what the fundamentals actually are. How is that possible? The equilibrium consists of alternation between exploring phases and exploiting phases. In exploring phases, dealers propose prices to probe the demand and supply coming from traders. These phases allow dealers to learn the level of prices: guaranteeing them, during exploiting phases, to buy cheap from potential sellers and sell expensive to potential buyers. Exploring phases are costly to dealers as they might face traders that are better informed than they are. However, these costs are more than compensated for by the profits accumulated during exploiting phases. What does this imply for the Efficient Market Hypothesis? During the exploiting phase, demand and supply are balanced, implying that the price reflects market participants’ consensus about a firm’s fair value, and the efficient market assumption is satisfied. However, during the exploring phase, prices are volatile and will drift away from the firm’s fair value. The alternation of exploring and exploiting phase is inevitable; hence, there will be recurring periods in which the efficient market hypothesis is violated. MORE TAKE-HOME POINTS • Dealers do not make money by buying when they think that a stock is underpriced or by selling when they think it is overpriced. They keep their net position at a minimum and make money through intermediating the demand and the supply of traders. • No matter what a dealer thinks the fundamentals of an asset are, they will make more money, and take less risk, by going along with the market rather than betting against it.

(This article is based on the research paper “Belief-free Price Formation” by Tristan Tomala (HEC Paris), Stefano Lovo (HEC Paris), and Johannes Hörner (Toulouse School of Economics), published in the Journal of Financial Economics in February 2018 (Volume 127, Issue 2, Pages 342-365). Professor of Economics and Decision Science Tristan Tomala received the latest Best Researcher Award 2018 from the HEC Foundation).

Stefano Lovo

ABOUT HEC PARIS Founded in 1881 by the Paris Chamber of Commerce and Industry, HEC Paris is one of the world’s leading providers of Executive Education. HEC Paris joined Qatar Foundation in 2010 and brought world-class Executive Education programmes and research activity to Qatar and the GCC region. HEC Paris offers in Qatar a complete and unique range of educational programmes designed for the leaders of tomorrow. In Doha, HEC Paris runs an Executive MBA, a Specialised Master’s Degree in Strategic Business Unit Management, Executive Short Programmes for managers and executives, and Customdesigned programmes for companies. http:// www.qatar.exed.hec.edu/

Tristan Tomola

• The theory explains dealers’ tendency to maintain balanced inventory. • The theory helps to explain the excess volatility puzzle, that is, the fact that the volatility of the company’s stock price exceeds the volatility of its fundamentals. • The theory explains the volatility clustering phenomenon that consists in the volatility of stock prices experiencing recurrent picks. • The exploring-exploiting phase’s alternation is reminiscent of some algorithmic trading protocols. 25 > QATAR TODAY > JUNE 2019

affairs > world view

BIRTH OF A ROYAL BABY BOY In celebration of the birth of a royal baby boy, a military band marches past Windsor Castle in Windsor, west of London, Britain. The royal couple are yet to announce a name for the young royal. Photo source: EPA-EFE/Andy Rain Photographer: Andy Rain

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COVER STORY

FILLIP TO LNG SHIPPING INDUSTRY

THERE HAS BEEN EXCITEMENT IN THE AIR IN THE GLOBAL LNG SHIPBUILDING INDUSTRY AFTER STATE-OWNED QATAR PETROLEUM (QP) INVITED TENDERS FROM QUALIFIED COMPANIES TO SUPPLYING AROUND 100 LNG CARRIERS OVER THE NEXT DECADE, QATAR TODAY FOUND OUT. BY VL SRINIVASAN

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COVER STORY

FILLIP TO LNG SHIPPING INDUSTRY

he tenders have been called as Qatar plans to expand its liquefaction project and also the Golden Pass LNG project in the US, which was to commence work on May 13, and some of the new ships will replace the old steam turbine ships in the company’s shipping fleet. After exiting OPEC early in 2019, Qatar has announced plans to increase its LNG production capacity from the present 77 million tonnes per annum (MTPA) to 110 MTPA by 2024. This was expected as there has been a surge in the demand for LNG around the world.The Golden Pass LNG liquefaction project will have a capacity of 16 MTPA of LNG and is expected to come online by 2024 and both these projects are expected to generate demand for 60 LNG ships. Qatargas, a state-run LNG company which

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has managed the construction of 45 Q-Flex and Q-Max ships, the world’s largest LNG vessels by carrying capacity, has been entrusted with the job of executing the LNG shipbuilding programme on behalf of Qatar Petroleum. Three South Korean shipbuilders – Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering – built the Q-Flex and Q-Max ships, which are under charter to Qatargas to transport LNG to global markets, in the past.Qatar’s Minister of Energy Affairs and Qatar Petroleum president and chief executive HE Saad Sherida Al Kaabi said: “With this significant step, Qatar Petroleum embarks on another major LNG shipbuilding campaign expected to initially deliver 60 LNG carriers in support of the planned production expansion, with a potential to exceed 100 new LNG carriers over

the next decade.”He further added: “This tender, along with the recently released engineering, procurement and construction tender for four new megaLNG trains planned as part of the North Field Expansion project, constitute two monumental and historical milestones as we make major strides in our commitment towards the further development of the world’s largest non-associated gas field.”The decision of Qatar, which is maintaining its strong level of market share in a growing and thriving trade, to invite tenders on such a large scale is timely and wise as the LNG supply is expected to grow as natural gas becomes a more crucial part of the energy mix. The important factor over the next several years will be the re-gasification and distribution hubs in the number of new demand centres. Traditional trades will remain important,

but the new supplies coming onto the market over the next five to 10 years will feed into new trades and destinations. The cost of each new LNG vessel would be around $200 million and the shipyards will be vying with each other to get the orders from Qatar, which are estimated to be around $12 billion. Qatar’s national shipping company Nakilat currently has a fleet of 69 LNG ships - 24 conventional LNG ships (145,000 cu m-170,000 cu m), 31 Q-Flex (210,000 cu m -217,000 cu m) and 14 Q-Max (263,000 cu m -266,000 cu m). Nakilat owns these ships wholly or in a joint venture with other organisations such as K Line, NYK Line, Shipping Corporation of India, Teekay Shipping Corporation, Mitsui OSK line and Maran Gas. The average age of these ships is 10 years, but by 2030 the average age of this fleet will be approximately 21 years, so some replacement is likely. LNG DEMAND ON THE RISE The demand for LNG has been on the rise in the last few years and countries such as Australia, the US, Russia and Mozambique have concentrated on increasing the

on current projects in the pipeline and ignoring any technological developments that will make discoveries far more efficient or other major new finds. On the other hand, the demand for LNG is expected to grow by double-digit numbers in several geographic regions worldwide, as many buying countries are looking to switch to LNG as an energy fuel. Qatar’s estimates are in the same magnitude for production expansion. There are more than 500 LNG tankers in existence today and more than 100 on order (implying an LNG fleet expansion by 20 % in the next few years, a high order, even before Qatar’s massive order). Basil Karatzas, CEO of the New Yorkbased Karatzas Marine Advisors & Co, said that industrialised countries such as Germany, Japan and those in the European Union have been looking to increase their LNG imports but, surprisingly, even countries of the Pacific Rim seem to be the most aggressive for LNG. “Obviously, the Middle East and Qatar historically have been the main natural gas producers, but Australia, and mostly shale oil in the US, emerged as the stars of the last decade. Given the rapidly advancing field of energy

“WITH THIS SIGNIFICANT STEP, QATAR PETROLEUM EMBARKS ON ANOTHER MAJOR LNG SHIPBUILDING CAMPAIGN EXPECTED TO INITIALLY DELIVER 60 LNG CARRIERS IN SUPPORT OF THE PLANNED PRODUCTION EXPANSION, WITH A POTENTIAL TO EXCEED 100 NEW LNG CARRIERS OVER THE NEXT DECADE.” H E SAAD SHERIDA AL KAABI Minister of Energy Affairs State of Qatar

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production of this clean fuel to meet the growing demand. Based on current estimates, natural gas production is expected to grow by almost 45-50 % within the next two decades, based

recovery, it will not be a surprise to see more countries coming to the game as natural gas producers,” he said. The LNG trade set a record for the fifth consecutive year in 2018, reaching 316.5 31 > QATAR TODAY > JUNE 2019

COVER STORY

FILLIP TO LNG SHIPPING INDUSTRY

“OBVIOUSLY, THE MIDDLE EAST AND QATAR HISTORICALLY HAVE BEEN THE MAIN NATURAL GAS PRODUCERS, BUT AUSTRALIA, AND MOSTLY SHALE OIL IN THE US, EMERGED AS THE STARS OF THE LAST DECADE. GIVEN THE RAPIDLY ADVANCING FIELD OF ENERGY RECOVERY, IT WILL NOT BE A SURPRISE TO SEE MORE COUNTRIES COMING TO THE GAME AS NATURAL GAS PRODUCERS.” BASIL KARATZAS Chief Executive Officer Karatzas Marine Advisors & Co.

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MTs marking an increase of 28.2 MT – a 9.8 % increase on 2017, International Gas Union (IGU) president Joe M. Kang said in a report by IGU, which was released in April this year. He said that Asia Pacific markets accounted for about 70 % of global LNG trade in 2018 with China and South Korea continued to lead demand growth while global liquefaction build-out was driven largely by capacity additions in Australia, the US and Russia. Between January 2018 and February 2019, 36.2 MTPA of liquefaction capacity was added. China, which is keen on environmental protection, has announced early in 2019 that it has drawn up plans to set up 34 coastal terminals to import 247 Million Tonnes (MT) of LNG by 2035. One should not forget that the entire global LNG trade was only 289 MTs in 2017, he added. Even the overall global LNG fleet grew by 11.5 % in 2018 and spot charter rates soared. As 51.8 MTPA of new liquefaction capacity is expected to start up in 2019, the shipping market may become tighter with only 43 new-build deliveries targeted in the year. However, due to these growing imports, China overtook South Korea as the world’s second-biggest LNG importer in 2017 and Japan as the largest LNG importer in 2018. Even South Korea imported 44 MT of LNG in 2018, an increase in 17.3 percent compared with previous year. Of this, Qatar supplied 14.25 MTs, again recording an increase of 23.3 % compared with the previous year. The US-based Poten and Partners, which has been providing its clients with valuable insight into the international oil, gas and shipping markets for the last 75 years, forecast that the global LNG demand will grow by around 100 MTs between 2019 and 2029. “As all of this new volume will have to be transported by LNG carriers, this equals the increased demand for freight as well and Asia will continue to be the main consuming region,” Jason Feer, Global Head of Business Intelligence, Poten & Partners, said. According to him, Japan is expected to be the biggest importer of LNG by 2029 followed by China, Korea, India, Thailand, Taiwan, Spain, the UK and others. VesselsValue, a leading online valuation,

AIS and market intelligence service for the maritime and offshore sectors covering theglobal fleet of bulkers, tankers, containers, LPG, LNG and others, said that the major growth in demand centres should continue to be Asian countries that are rapidly developing their economies and seeking cleaner burning fuels to mitigate air quality issues that have been growing over the past decade. However, the past winter showed that other demand hubs, particularly Europe, are also capable of buying in additional cubic metres. A spokesperson from VesselsValue told Qatar Today that infrastructure continues to expand, and pricing incentives will continue to shift as the market matures. The LNG markets look like they may resemble the clean product tanker market in several years, which is highly arbitrage-driven. ‘We look to see an increased number of portfolio players working the spot market, which will drive the commoditisation of the space, and enable further demand,” the spokesperson said. Even new financing structures available to shipowners driven by loan concentration limits are encouraging interest in LNG shipping markets and may lead to more orders over the next several years, which in turn will benefit import and export terminal expansion. “The total ton mile demand for LNG carriers has increased over the past several years. Over 60 countries have imported LNG cargoes in the past quarter; 14 of them imported no LNG in 2013, highlighting the growing ecosystem available for sellers. Of the 63 countries that imported LNG, 38 have seen growth in the ton mile demand they drive when compared with Q1 2013,” the spokesperson said. SOUTH KOREAN FIRMS HAVE EDGE The shipbuilding companies in Far East countries like South Korea, Japan and China are ecstatic as Qatar Petroleum’s decision has certainly come at a time when the industry has been passing through a difficult phase due to various reasons. Accompanying His Highness, The Emir, Sheikh Tamim bin Hamad Al Thani, to South Korea in the last week of January this year, HE Saad Sherida Al Kaabi hinted that Qatar was tilting towards Korean builders in placing the orders for new LNG carriers.

After a high-level luncheon summit between His Highness, The Amir, Sheikh Tamim bin Hamad Al Thani and South Korean President Moon Jae-in in Seoul early this year, presidential spokesman Kim Eui-kyeom, while quoting Daewoo Shipbuilding & Marine Engineering (DSME) CEO, said: “Given South Korea’s proven track record in winning orders for value-added vessels and delivering them on time, chances are very high that South Korean shipbuilders would be considered the most-preferred candidates to win the upcoming new ship orders.” A few days before the summit, a team of officials from Qatar Petroleum toured the shipyards of Hyundai Heavy Industries, DSME and Samsung Heavy Industries, as well as China and Japan to assess their capabilities to build ultra-large LNG vessels. LEADERS IN THE MARKET The Korean shipbuilders have for several decades been the market leaders for LNG tankers and building this type of sophisticated vessels and in different designs to accommodate the needs of specific clients and trains, most notably the “Q-Max” and “Q-Flex” and also LNG tankers with re-gas units on board. Japanese shipbuilders are also very highly regarded, but typically they are not cost-competitive. Chinese shipbuilders have aggressively pursued this highvalue market, but in general, they are not regarded as highly in terms of quality, Basil Karatzas said. “Probably these shipbuilding contracts will be awarded based on several criteria, cost and price being just two of them. Definitely geo-political considerations will come into play; this is a monumental order, and probably it would be prudent to 'spread it around' in order to satisfy many players and build bridges to new markets as well,” he felt. He further said that only a handful of shipbuilders worldwide can build expensive and sophisticated LNG tankers effectively and Korean firms definitely are among the most competitive. Another aspect is the announcement of two shipbuilding firms –Hyundai and DSME merging into a single entity a couple of months ago. “The recent merger of Hyundai Heavy

Industries and DSME has consolidated the LNG shipbuilding market whereby these two players have now more than 50 % of the world’s market with an $18 billion outstanding order book, just for LNG tankers,” he pointed out. With Qatar being a premier, strategic client and LNG vessels a high-value market, he believes that even if only South Korean shipbuilders are awarded the Qatar business, the companies would expand capacity to accommodate such an order. The spokesperson for VesselsValue said that the South Korean yards have placed themselves in a clear leadership position. Some Chinese yards have ventured into the space, but the additional supervision costs required at these yards reduces the cost benefit. There is no doubt that the South Korean yards have enough orders on hand at present but shipyard capacity is highly adaptable to meet increased production demand. “New infrastructure can be added, or mothballed slipways put back into use. The high specification required for LNG vessels means that supplier bottlenecks become more important in the production optimisation schedule, and the deep network of specialised industrial infrastructure outside the immediate yard environment remains a critical advantage of the South Korean builders,” the spokesperson said. “We have yet to see the implication of the merger of two major ship yards, assuming it occurs as per the contract announced in early 2019. However, South Korean yards must remain aware that other ship construction hubs will compete if the new-build price climbs too high,” the spokesperson added. In one of its recent reports, shipping consultancy firm Drewry opined that most of Qatar’s LNG ship orders will go to Korean shipyards as the country has previously used all three major Korean shipyards — Daewoo, Samsung and Hyundai — for building similar ships. However, Drewry expects these orders to be staggered, as Qatar Petroleum has indicated that the company expects to order the 100 new LNG ships over the next decade. The new orders will also replace tonnage for old steam turbine ships in the shipping portfolio of Qatargas.

“THE LNG TRADE SET A RECORD FOR THE FIFTH CONSECUTIVE YEAR IN 2018, REACHING 316.5 MTS MARKING AN INCREASE OF 28.2 MT – A 9.8 % INCREASE ON 2017.” JOE M. KANG President International Gas Union (IGU)

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COVER STORY

FILLIP TO LNG SHIPPING INDUSTRY

Qatargas has timed the tender to perfection to take advantage of lower new building prices and adequate shipyard capacity. While new-build prices have inched up a little over the last six months, they are still low when compared with newbuild prices in 2015. With sparse orders in the last three years, shipyards have ample capacity to take big LNG orders, the report said. The prospective order for 100 LNG ships is equivalent to about 23 % of the existing LNG shipping capacity (assuming 100 LNG ships with 180,000 cbm capacities). Although this prospective order is massive in size, it will have minimal impact on short-term charter rates. “Continuing with the historical trends, the Qatargas orders are expected to be

the capacity to build that many ships, he pointed out. LNG’S VITAL ROLE Some 20 years ago, LNG was a new type of fuel and governments were skeptical about itsissues of its commercial value and safety. LNG production was also concentrated in a few countries in the early days of drilling. LNG was considered a complete nuisance that often was let go free in the air. And, most of the business then was happening on “trains” whereby the end-user would commit to buy cargo for a very long time, a decade or longer, and LNG vessels were built specifically for such trains and contracts. At present, new technologies have led to discoveries and competitive development of natural gas deposits in Australia, Russia

backed by long-term charter contracts from LNG liquefaction projects where QP has invested. However, if new orders are confirmed, LNG shipbuilding slots will become limited, in turn pushing up newbuild prices,” the Drewry report added. Jason Feer said that while it would be hard to know whether the South Korean companies would be awarded the work, though as the leading builders of LNGCs their yards are well positioned to win at least some of that work. In fact 80-100 vessels are a large order and the South Korean yards are among the few with

and most prominently in the US. There is plenty of commodity to go around, and now the environmental benefits of the natural gas are clearly appreciated (both lower emissions and higher calorific value as compared to any other form of fossil-derived energy). And the public got convinced that natural gas and LNG is a safe commodity to be shipped around. “Hence there is a much more active market with more producers deriving from several regions geographically, and higher demand by many countries that are looking to replace coal and crude oil

“WE FORECAST GLOBAL LNG DEMAND TO GROW BY AROUND 100 MILLION TONNES BETWEEN 2019 AND 2029. AS ALL OF THIS NEW VOLUME WILL HAVE TO BE TRANSPORTED BY LNG CARRIERS, THIS EQUALS THE INCREASED DEMAND FOR FREIGHT AS WELL AND ASIA WILL CONTINUE TO BE THE MAIN CONSUMING REGION.” JASON FEER Global Head of Business Intelligence Poten & Partners



34 > QATAR TODAY > JUNE 2019

as sources of energy,” Basil Karatzas said. The shipment of LNG has been moving away from the “train” model servicing one client and contract, and, especially with the development of shale in the US, there is the creation of a “spot market” for trading and shipping LNG, just like with crude oil. A power plant can enter the market to buy LNG in the international market on the spot and then charter a tanker to arrange for shipment. He said that Qatar, with well-proven and expansive natural gas deposits, has been contemplating building a fleet of LNG tankers, since they “have to go long tonnage” as they say in financial parlance. Ideally, they could offer shipping to their LNG buyers, or at least offer them the option of buying FOB (Free On Board) so they can buy at the dock or CIF (Cost, Insurance, Freight) whereby the cargo is shipped to their facilities. Likewise, Qatar owns Q-Ship and Nakilat to provide shipping services for their captive business, comparably to vessel ownership by other national oil companies such as Saudi Aramco for Saudi Arabia, Vale and PDV Marine, etc., for Venezuela, among others. “Even if Qatar’s natural gas buyers opt to do their own shipping, ensuring that that there are many LNG tankers available in the market, logically this would keep shipping costs competitive. The US with shale oil seems to have a competitive advantage in terms of cost for the commodity, which means that any other natural gas sellers in the world market would have to be cognizant of the shipping cost,” he said. On the other hand, shipping projects for cargo owners can easily go wrong; for example, Vale, the Brazilian mining company, decided to become a major shipowner of very large iron ore carriers a decade ago, pointedly code-named “Valemax,” in order to compete on shipping cost with Australian mining companies. Although there can be several interpretations of what exactly happened, Vale ended up selling all 40 vessels and losing billions of dollars in the process. For the curious kind, these vessels go today are code-named “Chinamax” vessels, he added. 35 > QATAR TODAY > JUNE 2019

affairs affairs>>bottom local line

“WHY DO YOU WANT TO WORK FOR US?” YOU HAVE PROBABLY HEARD THIS QUESTION COUNTLESS TIMES IF YOU ARE IN THE MARKET FOR A NEW JOB. THIS IS NOT AN OUT-OF-THIS-WORLD QUESTION NOR IS IT IMPOSSIBLE TO ANSWER, BUT THE FACT THAT IT IS ASKED IN ALMOST EVERY JOB APPLICATION PROCESS, IN ONE FORM OR ANOTHER, MAKES IT A VERY FUNDAMENTAL QUESTION THAT IS WORTH ANALYSING.

hy do employers ask this question? What information are they trying to obtain by asking it? Wouldn’t they know on their own whether they should hire you or not? Well, just like every other question you might be asked on an application or during a job interview, this one is meant to provide the employer with more information about you and why you are the best fit for the job. It is quite a big question and it does mean that you have to "sell yourself," but it is a very critical question and you should absolutely plan to master it. When you are asked “why should we hire you?” (Or any of its sister questions such as why are you the ideal candidate for this job? What makes you suitable for the position? Why did you apply? Why do you want to work for us? And so on) there really are multiple items that the employer is trying to understand. And experts at Bayt.com have listed them here:

36 > QATAR TODAY > JUNE 2019

Your interest

In most cases, the company that has contacted you for a job interview or allowed you to fill out an application is interested in you. But by asking “why should we hire you?” they also want to know whether or not YOU are genuinely interested in them. Interest means you have curiosity and care about the work the company does, the products or services they have, the job responsibilities you would assume, the career you would build, the impact you would make, and such. So when asked this question, remember that a chunk of your answer must highlight the fact that you are truly interested and excited about joining this company for the specific reasons you are going to provide. Without having done your research and having obtained sufficient information about the company and the vacancy, showing interest will be difficult or noticeably fabricated.

Your suitability

While being interested, excited, thankful is all nice and dandy, it is not enough to answer the question or to get you hired. Your interest aside, your answer should always demonstrate your relevance and suitability for the job. This is your time to shine. This is when you talk about your qualifications, your skills, your background and your experience that align so nicely with the job requirements. Basically, you and the job should seem like a match made in heaven. Another item to keep in mind is the company’s vision, mission and values. Discuss how these relate perfectly to your personal goals and ambitions.

Your confidence

“So tell me, why should we hire you?” Something about this question seems intimidating to many job seekers. It throws them off guard, or worse, de-motivates them a bit. It is almost like the company is

questioning them or claiming to be skeptical about their potential. But there is no reason to feel that way. Don’t think about it as an interrogation or an invalidation. This is a common question and the fact that you are asked to answer it doesn’t necessarily mean that the company has doubts about you or your competencies. Look at this question as an opportunity to show your confidence, to demonstrate how much you believe in your abilities and in your potential if you join the company. Employers receive hundreds and sometimes thousands, of applications for each position they have. As a result, they are under a lot of pressure to make a well-informed hiring decision. Showing confidence is, therefore, an important strategy to truly stand out from this large pool of applicants and to let the employer know you do actually deserve this opportunity.

Your determination

Another reason why answering this question is so important is that it showcases your commitment to the employer. It proves that you are in for the long haul and that this isn’t just a stepping stone or a temporary gig for you. Almost always, companies want employees who truly belong, who truly care about the company and who plan to be there for as long as they foresee. So emphasise your passion and investment in this company. Prove to them that you are planning to stay, grow, lead and make an impact over a long period of time.

Your added value

Another area that employers consider when they ask why they should hire you and not anyone else who applied for the job is whether or not you will add value to the company.

Adding value means more than having relevant qualifications. It means that you perform at the highest standards, that you look for new ways to enhance your job and how it impacts the company, that you continuously seek to learn and grow but also help others do the same, that you always explore new opportunities to grow the business, and that you constantly have the company’s goals and mission in mind when you perform your job. Think of your previous jobs and experiences where you have created value and use them as examples if they can help you answer this question. If not, make clear statements about how you plan to add value and be a vital resource to your team and company should you take on this role. Remember that this is the most basic question that truly guides your job application towards the hire or reject pile. Therefore, you should have it answered for each position you apply for.

“THIS IS YOUR TIME TO SHINE. THIS IS WHEN YOU TALK ABOUT YOUR QUALIFICATIONS, YOUR SKILLS, YOUR BACKGROUND AND YOUR EXPERIENCE THAT ALIGN SO NICELY WITH THE JOB REQUIREMENTS. BASICALLY, YOU AND THE JOB SHOULD SEEM LIKE A MATCH MADE IN HEAVEN.”

ABOUT BAYT.COM Bayt.com is the #1 job site in the Middle East with more than 40,000 employers and over 35,700,000 registered job seekers from across the Middle East, North Africa and the globe, representing all industries, nationalities and career levels. Post a job or find jobs on www.bayt.com today and access the leading resource for job seekers and employers in the region.

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economy > tag this

ASD CELEBRATES 30-YEAR JOURNEY WITH ANOTHER YEAR PASSING, OUR CLASS OF 2019, SENIOR DRAGONS GRADUATED AS THE AMERICAN SCHOOL OF DOHA (ASD), COINCIDING WITH THE SCHOOLâ&#x20AC;&#x2122;S 30TH ANNIVERSARY.

BY RABAB MARDINI

ASD Alumna Class of 2014

ith another year passing, our classof 2019 Senior Dragons graduated as the American School of Doha's 30th Anniversary graduating class. American School of Doha had 16 graduates

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representing five nationalities in 1996. This year, ASD graduated 168 students representing over 30 countries and speaking more than 30 languages. Our class of 2019 has been accepted into over 500 colleges and universities around

the world, breaking a record number of acceptances. They will leave us now to study courses in different countries ranging from the US, the UK, Canada, Spain, Singapore, South Africa, Holland, Australia, Lebanon and, our host country, Qatar.

ASD’s AP scores were the highest in the history of the school, reaching 3.60 in comparison to the global score of 2.87, with a pass rate of 85 % compared to the global pass rate of 61 %. Further, the number of IB students in the programme is the highest it has ever been, with an average score of 34 points over the past five years compared to the world average of 30 points. Our students' SAT scores for 2018 also

averaged 1,245 in comparison to the global average of 1,060. This year alone, our High School students have traveled to Athens, Moscow, Taipei, Tanzania, Thailand, Oman, India and the Maldives to participate in service activities, music, theatre and sports competitions. According to High School Principal Michael Roberts, “The class of 2019 is culturally dexterous, socially adept and aware and hugely inclusive. They act

only solidified its place as one of the top schools in Doha and in the region, but also in the international community as a whole. Beyond its beautiful and modern campus, ASD is known for its guarantee in providing quality education. Its wide range of academic programme has been a frontrunner in professional learning and curriculum development, enjoying a regional and worldwide reputation for academic excellence.

School students continued ASD’s longstanding partnership with the Maldives Whale Shark Research Programme. On this service trip, students work and learn from marine biologists in the field where they track and identify whale sharks in South Ari Atoll and monitor human interactions between whale sharks and commercial tourism. These service projects not only allow our students to appreciate the opportunities they have to give back, but also allow them to become more active global citizens, a lesson they can take with them throughout their whole life.

Extra- curricular activities

ASD’s High School provides a great example of both the academic, and social, and service activities that ASD has to offer. Take for example the work ASD, in conjunction with THIMUN Qatar, has done with the organisation “Hope for Education and Leadership in Afghanistan (HELA)". HELA is a youth non-profit organisation stationed in Kabul, Afghanistan, and specialised in student development in Model United Nations (MUN). The programme’s goal is to create active global leaders within Afghanistan, providing opportunities for students they never thought possible. In the Maldives, High

and behave as a team.”

A long journey

The school, along with its students, has come a long way in 30 years, from its expansion projects to its local and international presence, from earning the Green Flag and becoming an Eco-School, to its humanitarian efforts around the world. With the level of excellence the school has achieved over the past decade, it has not

“THE CLASS OF 2019 IS CULTURALLY DEXTEROUS, SOCIALLY ADEPT AND AWARE AND HUGELY INCLUSIVE. THEY ACT AND BEHAVE AS A TEAM.” MICHAEL ROBERTS High School Principal American School of Doha

Modest beginning

The American School of Doha began its journey of academic excellence in a small villa in 1988 to serve a small number of expatriate families. Today, ASD has grown into a premier school that pushes its students beyond academic excellence, inspiring and empowering them towards becoming positive, active global citizens. This year, as we conclude our 30th anniversary, we as a community, celebrate the accomplishments of the class of 2019. 39 > QATAR TODAY > JUNE 2019

affairs > technology

SUBSCRIPTION IT BENEFITS BUSINESSES

SUBSCRIPTION-BASED IT SERVICES ARE NOT ONLY JUST ABOUT SAVING MONEY; THEY CAN EVEN HELP SECURE YOUR DATA. JESPER ANDERSEN

PRESIDENT AND CHIEF EXECUTIVE OFFICER AT INFOBLOX

he way customers acquire goods has changed. They are no longer investing in ownership, but in customisation of ondemand delivery and fresh experiences. It is clear that the subscription economy is here to stay with the explosive adoption of services like Amazon Prime and Netflix. But the way this shift toward subscriptions is driving change is not just in the consumer world - it is impacting enterprise IT in a major way. In fact, Gartner predicts that by 2020 more than 80 % of software vendors will change their business model from traditional licences and maintenance to subscriptionbased. This new model will affect virtually

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all aspects of how business leaders and IT teams plan for, finance, acquire and consume technology. Advancements in virtualisation technologies are enabling everything from consumer- and office-oriented software tools to core data centre services and hardware appliances to be deployed as utility services. But while most organisations are aware of the financial, dollar-saving benefits of subscription IT, few are aware of how its positive impacts extend beyond the bottom line. More than cutting costs, subscription IT holds some powerful benefits for businesses in terms of bolstering cybersecurity, productivity and efficiency. Below are three benefits your business stands to gain from

embracing subscription-based IT:

Improved cybersecurity

The technology landscape is volatile and uncertain: long-term technology investments today are often quickly made obsolete by new advances around the corner. Advancements and upgrades occur so rapidly that budget-driven refresh cycles struggle to keep pace. And because refresh cycles are lagging, IT and security teams struggle with the negative cybersecurity, productivity and efficiency implications of running on outdated equipment and software. This is particularly alarming since end-of-life assets are favoured gateways (or backdoors) for cyber attacks.

The great thing about technology under a subscription model is that it is always current—no more worrying about end-ofsupport or end-of-life assets on networks that are magnets for cyber attacks. Gone are the days of disruptive and expensive technology refresh cycles. Upgrades and updates (such as adapting the technology to new infrastructures or operating systems) are done as part of the subscription cost.

Because subscription IT is generally provided as a service, strapped IT teams are freed up from having to maintain infrastructure to focus on higher-priority demands. This is particularly helpful as new IT skills constantly come into demand (security governance, big data, threat intelligence, to name a few) and existing staff can devote time to mastering these crucial new skillsets.

It’s a win-win situation as not only is IT spending trimmed down, but your business’ mission-critical assets are kept safe and secure, and the flexibility ensures you are always able to take advantage of the most current and innovative technological advances.

In addition, expenses and costs are more transparent, predictable and stable. When organisations have a clearer picture of their IT consumption and resulting costs, they can tweak policies to create more transparent charge-back mechanisms, and drive internal efficiencies and productivity.

Realigned IT spending

As subscription IT becomes the new normal, business leaders should embrace it not just for trimming budgets but also for boosting cybersecurity, productivity, and efficiency. Its core features of approaching IT as a consumption-based utility, as opposed to a large capital investment; reducing risks associated with technology adoption; scaling capacity up or down as needed; bolstering security and bringing greater clarity to IT consumption will enable organisations to better contend with the technology uncertainties and risks they face today. In a digital landscape that is constantly evolving, business leaders cannot underestimate the importance of having the flexibility to adapt with the times.

It is no secret that many IT departments are squeezed for budget and as a result they face intense pressure to reduce costs, find efficiencies and deliver greater value per dollar. This translates into fewer and smaller new investments and hinders new technology adoption. Perhaps one of the greatest benefits of a subscription model is that it realigns IT spending to actual usage. Organisations can deploy a capability with payment that scales with their fluctuating needs rather than wasting dollars on underutilised features year-round. For example, to accommodate seasonal or periodic peak workloads, an online retailer might invest in increased network traffic solutions only during the high-volume holiday shopping season.

“AS SUBSCRIPTION IT BECOMES THE NEW NORMAL, BUSINESS LEADERS SHOULD EMBRACE IT NOT JUST FOR TRIMMING BUDGETS BUT FOR BOOSTING CYBERSECURITY, PRODUCTIVITY AND EFFICIENCY.”

Likewise, customers have the flexibility to add or remove various capability features of their service so they are more tailored to their actual needs. As turning on and off a capability is relatively inexpensive and easy and there are no perpetual licences locking you in, the risks of deploying new technology are lessened. If one solution is not a good fit, IT can relatively easily switch to another.

Increased staff productivity

Acquisition and maintenance of IT infrastructure not only overwhelms thinly spread budgets, but staff resources as well. Those with valuable IT skills are increasingly in short supply at many organisations - often preoccupied with tending to infrastructure upkeep and timeconsuming manual updates.

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affairs > technology

BEWARE OF UNKNOWN SECURITY THREATS JUST BECAUSE YOU HAVEN’T DETECTED A BREACH, DOESN’T MEAN ONE HASN’T OCCURRED. PROACTIVE THREAT HUNTING IDENTIFIES HIDDEN ATTACKERS, POINTS OUT BLIND SPOTS IN YOUR DEFENCES, AND PREPARES YOUR ENVIRONMENT FOR HANDLING FUTURE INCIDENTS.

ssessment is effectively a combination of in-house developed-analytics and external intelligence sources. The output of this process is a prioritised list

42 > QATAR TODAY > JUNE 2019

of findings that should be remediated, or give the assurance that the system is certified free of malware running at the time of the survey.

Wi-Fi threat – a growing menace

Wireless authentication attacks steal the

identity of Wi-Fi clients, their personal information, login credentials, etc., to gain unauthorised access to network resources. Confidentiality attacks intercept confidential information sent over the wireless associations, whether sent in clear

text or encrypted by Wi-Fi protocols. In Integrity attacks, the attackers send forged control, data and management frames over the wireless network to disturb integrity. To weed out such offensive attacks, Remah’s solution prevents legitimate users from accessing resources. Remah’s device solution monitors Wi-Fi environment and detects fingerprints active Wi-Fi catchers. The company’s state-of-the-art testing process helps in wireless discovery with heat maps and rouge AP tracking.

security builtin. Our analysts scrutinise every aspect of your application security. When done, Remah’s team provides a report that contains detailed explanations on how to bypass security controls, and provides a remediation path that includes the changes required to eliminate those vulnerabilities.

Additionally, Remah’s VoIP security testing focuses on enumerating and verifying potential attack vectors and threats to VoIP infrastructure. To make it simple, wireless network security primarily protects a wireless network from unauthorised and malicious access attempts. Typically, wireless network security is delivered through wireless devices (usually a wireless router/switch) that encrypts and secures all wireless communication by default. Even if the wireless network security is compromised, the hacker is not able to view the content of the traffic/packet in transit. Moreover, wireless intrusion detection and prevention systems also enable protection of a wireless network by alerting the wireless network administrator in case of a security breach.

Android/iOS Application Testing

By analysing both the online services and the mobile application itself, Remah verifies that the mobile channel has the most

ABOUT REMAH Remah, a trusted advisor with more than a decade of technology expertise, offers complete solutions to keep the public and private sectors safe and secure online.

“TYPICALLY, WIRELESS NETWORK SECURITY IS DELIVERED THROUGH WIRELESS DEVICES (USUALLY A WIRELESS ROUTER/ SWITCH) THAT ENCRYPTS AND SECURES ALL WIRELESS COMMUNICATION BY DEFAULT. EVEN IF THE WIRELESS NETWORK SECURITY IS COMPROMISED, THE HACKER IS NOT ABLE TO VIEW THE CONTENT OF THE TRAFFIC/ PACKET IN TRANSIT.” CEZARY MURAWSKI General Manager Remah IT and Advanced Electronics 43 > QATAR TODAY > JUNE 2019

business > marketwatch

DARWISH INTERSERVE: A PIONEER IN FACILITY AND SERVICES MANAGEMENT THE STATE OF QATAR IS WITNESSING THE LARGEST ECONOMIC AND URBAN GROWTH IN ITS MODERN HISTORY.

any major projects including the construction of new cities and the development of infrastructure components are being implemented. To ensure sustainable development, it is extremely important to have companies like Darwish Interserve specializing in facility and services management and capable of dealing with such huge assets and giant projects. Darwish Interserve, a facility and services management company, which started as a subsidiary of Hao United in 2010 based on an alliance between Al Darwish United and Interserve, a UK-based facility and services management company, has transferred its expertise through this alliance to the Qatari market. “Our company has more than nine years of experience, in which it has taken serious steps to develop in line with market requirements,” said Mr Mohammed Sa'adeh, the General Manager of the company, who has a special passion for development and a strong commitment to quality rather than quantity. He added that ,“Our company derives its capabilities and

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strength from its 1.200 strong workforce comprising engineers, administrators, and specialized technical labour.” Darwish Interserve works to apply the best and universally acknowledged and accepted practices and latest technologies. Such practices and technologies include: -SFG20, the optimum maintenance standard of buildings adopted by the British Building Engineering Services Association. -Compliance with the global hygiene standards, which won the company the accreditation and membership of the British Institute of Cleaning Science (BICSc). -Managing the services through advanced information systems (CAFM system), which schedules and monitors the work according to specific timetables and allows customers to follow the progress of work in their buildings. -A help desk, which handles urgent and routine customer requests efficiently and quickly, 24/7. -Membership in the Middle East Facility Management Association (MEFMA). -Winning the ISO 9001, ISO 14001 and OHSAS 18001 certifications.

“STAYING IN THE LEAD CAN BE MAINTAINED ONLY BY KEEPING UP WITH THE LATEST DEVELOPMENTS, HAVING NEW AND INNOVATIVE IDEAS, AND ALWAYS EXCEEDING THE EXPECTATIONS OF CLIENTS, WHOSE SATISFACTION IS CRITICAL TO SUCCESS.” MOHAMED SA'ADEH

General Manager Darwish Interserve

Darwish Interserve is one of the most specialized companies in providing various types of services to the public and private sector in Qatar through a team of highly qualified, experienced and professional cadres specializing in the field of facility and services management and operation and maintenance works. The company uses the most advanced technologies to provide comprehensive, sustainable and costefficient facility and services management solutions in line with the best international practices observed in the field of health, safety and environment (HSE). Its services include: All mechanical, electrical and sanitary maintenance works Maintenance of cooling, ventilation and heating devices Maintenance of fire alarm systems Cleaning, hospitality and reception services Supply of specialized and trained manpower Management of guard and security services Control of pests and insects Waste management Design and maintenance of gardens Management of all specialized and technical services “The company's management of utility services is based on scientific principles and practices that ensure the best results in maintenance and all other respects with regard to the buildings of our current and future clients, and guarantee the efficiency of their operation and usage throughout their lifetimes at the lowest cost,” Mr Sa'adeh said. This is the practice that the company is adopting in such a conscientious way that won it the confidence of its wideranging clientele, the most prominent of which include: The Department of Integrated Services at the Ministry of Education, with 25% of the school sector in the State of Qatar Doha Festival City Alshaya Group, with 244 shops and restaurants spread throughout all commercial complexes Hamad International Airport Ooredoo company, with all of its branches The British Embassy Darwish Tower on Pearl Island Doha College, Al Wa'ab and the West Bay campuses

The three branches of Compass International School The two branches of GEMS International School Qatar National Convention Centre Qatar Museums Authority – Qatar National Theatre

Caring for sustainability issues

In line with the orientations of the Qatari government, Darwish Interserve places the preservation of the environment high on its strategic priorities. “We aim to be an active part of Qatar Vision 2030 by providing a sustainability plan and managing energy conservation so that we can add a positive touch to the lives of our customers and employees and to the communities in which we are operating. This plan, which is deep-rooted throughout our work, shall help us achieve our vision of rationalizing the consumption of our valuable energy resources, guiding our actions and structuring our operations. Darwish Interserve for facility management is keen to serve the best interests of its customers and make their aspirations and interests as one of its foremost concerns. From this perspective it carries out its work according to the latest technological systems to provide a complete package in the management of facilities and services, including: Facilities and administrative buildings such as ministries and government agencies Banks and financial institutions Hospitals and medical centres Educational facilities such as universities, institutes and schools Entertainment and commercial centres and major markets Conferences and exhibitions centres Towers and residential compounds in new cities Airport facilities and services Museums, cultural centres, hotels and resorts Sports facilities such as clubs, stadiums and gymnasiums Over the course of ten years of work in this sector, the company has established its expertise and helped Qatar to reach its full potential for modernity. Darwish Interserve continues to seek improvements and focus on its future goals. Sa'adeh shared with us an overview about the company's practices which are vital to its success. 45 > QATAR TODAY > JUNE 2019

business > marketwatch

HUAWEI’S UNYIELDING POSITION THE RECENT DISPUTE BETWEEN THE UNITED STATES AND HUAWEI GRAVELY DISTURBED THE WORLD AND GOT THE PUBLIC WONDERING ABOUT HUAWEI’S NEXT ACTIONS. RECENTLY, HUAWEI’S FOUNDER, REN ZHENGFEI TOOK THE INITIATIVE BY REITERATING THE COMPANY’S STRONG POSITION AND PLANS TO MOVE ON DESPITE THE DISPUTE.

hen asked about the impact of the White House’s recent executive order, Ren stated: “What the US will do is out of our control. To us, the most important thing is to do our job well. I would like to take this opportunity to express my gratitude to the US companies that we work with.” Problems relating to about the company’s supplies of products from its international partners are

also one of its biggest concern, yet Zhengfei once again assured that the company will not end up with an extreme supply shortage for the firm is very well prepared. Not denying the possibility of insufficient supplies, he stated that Huawei has a way to counter this concern by simply using its ability to manufacture all of its high-end chips in-house. With regards to obtaining approval from

Washington, Ren Zhengfei commented that Huawei will continue to buy in bulk from the other US companies. “It may be the case that they cannot obtain approval quickly. We have ways to get through this transition period. Once approval is granted, we will maintain our normal trade with these US companies and work together to build an information society for humanity. We don’t want to work alone.”

ANOTHER DESTINATION IN SIGHT Al Najada Hotel presents itself as a point between heritage and Arabian Hospitality.

he all-new destination for Arabian hospitality experience joins the collection of hotels at Souq Waqif. Located on a heritage site between Grand Hamad street and the busy alleys of Souq Waqif, Al Najada Hotel opens its Qatari home-inspired doors to residents and travellers alike. Showcasing a mix of Arabic flair and European elegance, the hotel’s design exhibits a perfect blend of traditional architecture and modern local designs, which is complemented by crafted tiles that come in vibrant hues. Aside from its aesthetics, Al Najada Hotel consists of 151 guest rooms and suites as well as a variety of entertainment and food establishments under one roof. It will not run out of places to eat with its Al Baraha restaurant, which serves sumptuous local and international meals, and Missan which is a go-to place for some dessert cravings. When it comes to entertainment, the hotel also houses Canela Café which is a perfect place to unwind and relax alone or with family or friends. The Pool bar’s tropical menus is also a must-try for guests who are seeking to refresh and chill from the heat of the summer.

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CARTIER EXPANDS ITS BRANCHES IN QATAR Cartier and Katara share common ground in the preservation of local culture.

460-square-metre Cartier boutique was opened at 21 High st. in Katara Cultural Village to focus on tradition, privacy and exclusivity. The new boutique showcases a temple-like architecture which provides a private atmosphere and two massive main entrances and three VIP salons boasting luxurious boudoir furnishings.

Adjacent to Katara Cultural Village, the location of Cartier’s new boutique highlights its long-lasting tis with arts and culture. The boutique’s design retains Cartier codes with a touch of local aesthetics which conveniently underlines the Maison’s and the city’s commitment to preserving heritage, traditions and relationships. Present at the inauguration, Christophe Massoni, CEO Cartier Middle East, India and Africa, said: “We are thrilled to become part of this avant-garde development, with a brand-new space that celebrates Cartier’s history, style and craftsmanship while also paying tribute to local heritage and traditions.”

HAMAD BIN KHALIFA UNIVERSITY UNVEILS EIGHT NEW DEGREES HBKU accepts applications for pioneering degrees and programmes with cross-disciplinary studies.

he unveiling of the new degrees was initially announced at this year’s graduation ceremony by the president of HBKU, Dr Ahmad M. Hasnah, which was witnessed by 173 graduates from 43 countries. The eight new graduate degrees will be available across all six of its colleges. Effective from September 2019, the College of Islamic Studies will offer a Master of Arts in Applied Islamic Ethics degree. The College of Humanities and Social Sciences will also offer PhD in Humanities and Social Sciences, which marks the first doctoral degree to be offered by the university. Furthermore, HBKU’s College of Law now offers two pioneering degrees for an LLM in International Law and Foreign Affairs as well as an LLM in International Economic and Business Law. Meanwhile, the College of Health and Life Sciences will open a joint degree with the University of South Carolina for a degree in Master of Science in Exercise Science. Lastly, the all-new College of Public Policy is also receiving applications for its Master of Public Policy programme.

ANNUAL GHABGA EVENT HOSTED BY BALADNA Baladna invited media representatives for Ghagba, a Ramadan meal between iftar and suhoor.

aladna Food Industries Co. W.L.L, Qatar’s largest producer of fresh dairy and beverages, recently held its annual Ghabga event for media representatives. The event took place at the Debs w Remman Ramadan Tent at The Pearl and was attended by Baladna’s senior management. Established in 2014, Baladna Food Industries has grown to be Qatar’s largest locally owned food and dairy supplier. Commenting on the occasion, Ms Saba Nasser Al Fadala, Public Relations and Communications Director at Baladna, said, “Baladna takes pride in hosting the annual Ghabga event for our media partners. Occasions like these give us the platform to interact more closely with the media. Baladna is currently going through an exciting phase with new product launches, technologies and talent acquisition, and we hope to continue serving our communities as we grow in this journey. We consider the media to be an integral part of our success. I would like to thank them for their support and efforts in communicating our story locally and globally”. 47 > QATAR TODAY > JUNE 2019

business > marketwatch

DOHA MALL ALL SET TO MAKE A SPELLBINDING ENTRY INTO QATAR

The one and only super-regional mall in the Southern part of Doha is set to open in February 2020.

ith the consumers’ growing appetite for fashion, Al Mana Malls unveiled plans for the wonderful opening of Doha Mall in February 2020. It is built on a plot of 125,000m2 with a total of 270,000m2 built-up area to produce around 100,000m2 of gross leasable area (GLA). Doha Mall comprises a combination of targeted retailers over three levels, serviced with over 3,500 parking spaces. Located in Abu Hamour, Doha Mall is one of the most highly accessible shopping and entertainment destinations. It expects a footfall of over 1,000,000 visitors each month, owing to its location. Doha Mall will also be catering to the needs of 25% of Qatar’s population residing within a 5km radius. The Doha Mall will be home to more than 250 retail stores, with over 14 anchor stores, a new FLiK Cinemas concept, 10 cinema screens, world-class bowling centre, high-tech family entertainment centre, trampoline and adventure park for children, a wide range of dining options with more than 60 food and beverage units as well as well-lit ambience with natural sky light; making it a one-stop-shop destination.

A CLOUD NINE MOMENT FOR WCM-Q RESEARCHER AMIDST DOUBLE ACHIEVEMENT Dr Malik gets listed among the UK’s most influential diabetes researchers, also bags the prestigious Camillo Golgi Prize.

r Rayaz Malik was named the UK’s second most influential clinical researcher in a list of "Leaders in Diabetes Complications" compiled by Expertscape, the world’s leading index of academic achievement and expertise in healthcare. He left the UK to join WCM-Q in 2014, but still holds an honorary professorship at the University of Manchester, hence his inclusion in the UK index. Dr Malik had also been awarded the prestigious Camillo Golgi Prize which is awarded by the European Association for the Study of Diabetes (EASD) and recognizes investigators who have published research papers in internationally recognized scientific journals over the last five years. Dr Malik is the first recipient in the history of the Camillo Golgi Prize to be based outside Europe. As a medical registrar and subsequent Professor of Medicine, he pioneered the technique of "Corneal Confocal Microscopy" (CCM). CCM enables real-time imaging of the corneal nerve fibres and identifies nerve damage in a growing list of peripheral and central neurodegenerative conditions. It has become a powerful imaging end-point for early diagnosis. It is also now being evaluated in Qatar for central neurodegenerative conditions.

BENEFIT OPEN ITS BRANCHES IN QATAR Benefit Cosmetics, the San Francisco-based make-up brand, opened its very first boutique in the Middle East in Doha, Qatar on May 10, 2019.

ell known for its creative packaging, irreverent names and innovative beauty solutions, Benefit has swept the world with one-of-a-kind cult favourite products like Benetint, They’re Real Mascara, the POREfessional Face Primer, Hoola Bronzer and Gimme Brow+. With more than 40 years of experience in brows and award-winning brow products, Benefit is the No. 1 brow brand worldwide and has become the brow destination for both product and brow styling! Founded in 1976 by twin sisters, Jean and Jane Ford, Benefit is currently one of the fastest-growing prestige beauty brands in the business with more than 50 locations in countries across five continents and is part of the world’s leading luxury products group, Louis Vuitton Moet Hennessy (LVMH).

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affairs > auto news HYUNDAI TO UNVEIL THE ALL-NEW PALISADE AND SONATA

Hyundai will confirm details of two new products available to Middle East and Africa markets, with the region included in plans for a new-generation Sonata sedan and an all-new SUV model, the Palisade.

he Palisade is an all-new flagship SUV. It will be a mid-size SUV, but at the more spacious and powerful end of its segment – longer, wider and taller than the newest Santa Fe which went on sale last year. The Palisade will be available on the 17th of June at Skyline Automotive Showroom – the official distribution partner of the Hyundai Motor Company in the State of Qatar. The Sonata on the other hand is the eighth generation of Hyundai’s long-running and extremely popular mid-size sedan. The new models feature bold design and benefit from the latest technical innovations. Available

features include convenience technology, such as wireless smartphone charging and advanced levels of connectivity, large touch-screen displays, and headup display to show essential information on the windscreen – immediately in the driver’s view without glancing away from the road. They also offer a wide range of cutting-edge safety technology, with a selection of advanced driver assistance systems packaged as Hyundai SmartSense. “The Sonata has a long and successful history in our region, and consistently ranks among the most popular models in its segment, so we have high expectations

for this latest model,” said Mike Song, Hyundai’s Head of Operations for the Middle East and Africa. “It offers premium design with sporty, coupe-like styling, combined with exceptional quality and outstanding value in the market”. Hyundai previewed the Palisade for the first time at the Los Angeles Auto Show last November, while the Sonata was presented publicly in March. An official hands-on launch of the Middle East and Africa versions will take place in South Korea, ahead of deliveries to the region during the summer. 49 > QATAR TODAY > JUNE 2019

affairs > auto news

ROLLS-ROYCE BAGS “BEST LUXURY SUV”

AUDI A4’S SILVER JUBILEE

Rolls-Royce Cullinan yet again re-establishes its status after winning a noteworthy award at the prestigious "Qatar Car of the Year" Awards.

The prime and pride of the Four Rings continues to make waves in its fifth generation.

eld at Mondrian Doha, "Qatar Car of the Year Awards" was hosted by Maqina Magazine, Qatar’s leading motoring title. The awards ceremony sought out the presence of guests as well as the panel of motoring experts and judges in selecting the winners in several categories. At the peak of the evening, Cullinan took home the well-deserved award – carefully judged and debated in the context of design and quality, handling and drivability, off-road capability, comfort and practicality as well as safety and durability. In winning the “Best Luxury SUV” award, Cullinan has undoubtedly proven its excellence in each category with its undeniably splendid combination of interior grandeur and performance that makes refined off-road travel effortless.

he Four Rings celebrates the debut of its most popular model, the Audi A4. Looking back 25 years ago since its launch, the model was produced in 7.5 million units and brought unabated demand and quantitative results of 344,586 units sold in 2018. The Audi A4 surely has set new standards with its elegance, sportiness and comfort which have symbolized the Four Rings like no other model before.

“Now in its fifth generation, this successful model continues to feature superior cutting-edge technologies.”

THE NEXT GENERATION RANGE ROVER EVOQUE The newly advanced Range Rover Evoque is finally revealed at Alfardan Premier Motors Showroom.

he official retailer of Jaguar Land Rover, Alfardan Premier Motors Co. introduced the new model that combines Range Rover’s unrivalled heritage and cutting-edge technology. Designed, engineered and manufactured in Britain, Range Rover Evoque presents a distinctive coupé-like silhouette which is identical keeping with its lineage. The new model’s volume and proportions are amplified by pronounced shoulders and

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wheel arches which create a strong dynamic attitude. Furthermore, additional elements include super-slim Matrix LED headlamps as well as flush door handles to add to its aesthetic signature. Inside the new flagship features a finely crafted minimalist, luxurious and digital cabin design. Instead of the usual leather, technical textiles utilising recycled plastics are offered such as a Kvadrat wool blend and Dinamica® suede cloth, as well as

Eucalyptus and Ultrafabrics™ options. The new Range Rover Evoque also offers the first mild hybrid powertrain which works by harvesting energy that is normally lost during deceleration. Another substantial innovation is the segment’s first “Clear Sight rear-view mirror” which effectively and conveniently transforms into an HD video screen that allows full visibility for the driver in case of compromised rear sight due to passengers or bulky items.

THE NEW FORMULA E SAFETY CAR BMW i8 Roadster Safety Car is beyond racetrack ready.

he new safety car for the ABB FIA Formula E Championship has been revealed to the eyes of the public on the eve of the Monaco E-Prix (MON). Modified for the racetrack and its design based on its sister model, the BMW i8 Coupé Safety Car, the new car is ready to hit the road. This recent addition to the fleet of BMW i Safety Cars is the first model in the world that can be used with an open cockpit. As striking as it already is, the cars mounted light bar above the rear wing and the shortened front windscreen just make it more exceptional. Another spectacular aspect of the new Safety Car is its livery design. It evolves the high-contrast BMW logo-inspired alternating blue and white schematic from the BMW iFE.18 and BMW i8

Coupe Safety Car into a decidedly expressive form suitable open-air mobility and street racing context. No major technical modifications were necessary aside from the inclusion of M Carbon Ceramic Brakes, an FIA-approved roll bar, a front splitter and a rear wing for additional downforce.

WELLNESS, CONTROL AND OUTSTANDING PERFORMANCE It’s “the best or nothing” for Nasser Bin Khaled Automobiles and, without a doubt, the all-new Mercedes-Benz S-Class flagship is the former.

reshly modernised, the Mercedes-Benz S-Class confirms its role as a technological trailblazer with its new engines and enhanced driving assistance systems. Being the undisputed leader of the premium segment, the company takes another step forward towards autonomous driving and elevating Intelligent

Drive. Its precise attention to detail is seen throughout the car, from the wood-leather steering wheel to the crystal-look tail lamps as well as its thoughtful innovation to pioneer wellness while driving. The latest ENERGIZING comfort control brings cloud nine to car enthusiasts as it gives the driver ultimate control of the climate, lighting and musical atmosphere. A new V-8 engine is also in the front line of its added features as well as the incorporation and enhancement of innovative driving assistance systems. Mercedes'Benz's S Class’ exterior design cannot go unnoticed as it glosses a new radiator grille and the use of high-quality materials which provide the perfect look for modern automobile luxury.

GENESIS G90 SPEEDS INTO TOWN Skyline Automotive unveiled its latest flagship 2020 Genesis G90 at Msheireb Downtown.

kyline Automotive, the official distributor of Genesis in the State of Qatar, launched its flagship 2020 Genesis G90 in an exclusive unveiling ceremony at Msheireb Downtown, the world’s smartest and most sustainable fully built city district. Skyline Automotive and Jaidah Group also announced the launch of “The Path”, a new programme established in partnership with prominent media personality and entrepreneur, Mohammed Saadoun Al Kuwari. The programme aims to celebrate some of the most successful Qatari members in various fields including sports, arts, health and sciences, among others, as well as to inspire the country’s youth to follow suit.” The programme kicked off with an official first

episode featuring Qatar’s national football team captain, Hassan Al Haydous, who also attended the G90 launch. The emerging Qatari artist, Bouthayna Al Muftah with her artwork also graced the ceremony of the new Genesis G90. The 2020 G90 a “Quad Lamp” styling theme features prominent horizontal architecture seen throughout the sedan. 51 > QATAR TODAY > JUNE 2019

culture > doha diary THE WAKE-UP CALL

YASSER AL MULLA’S LINES INSPIRE BLACK AND WHITE TRANSPARENCY, TRUTH AND LIBERTY IN ART.

don’t have rules, I only have lines,” says Yasser Al Mulla, the man behind Qatar’s record breaking grass and football pitches in stadiums and parks who now shows his duality as an artist with his first solo exhibition at Art 29 Gallery. Agricultural engineer by day and artist by night, the 38-year-old Muslim was drifting before he discovered art. His regular day is spent in perfecting the greenery in Doha and preparing for the 2020 FIFA World Cup by jumping from one turf research to another. Before all of this, Yasser Al Mulla never had any connection with art aside from his mindless scribbling in papers and scraps during his early years. Not until a terror-stricken dream about a tsunami that got him frantically 52 > QATAR TODAY > JUNE 2019

reaching out for pen and paper which serendipitously led him into a newfound talent. Unbelievably timely, Yasser was on a journey into finding his life purpose before it happened and,like a blessing in disguise, he said: “I just found it.” It is quite amusing to witness the renowned engineer from an artistic angle where he now magnificently sprouts art aside from grass. However, the creative process between his day job and his night hobby is completely distinct from each other. His full-time job as an agricultural engineer requires conducting extensive research and tests before leading to calculated results, in which is the exact opposite process to his art works. Yasser Al Mulla’s art style is evidently idiosyncratic, mainly abstract

and rooted in a preliminary thought. In a conversation with Qatar Today, he revealed the secrets behind his intricate details and unrestricted lines. He said, “I just do it and once I do, it just all grows from there.” In drawing, Yasser usually just starts with a single thought in mind that is vital to a piece, and from there scribbles of thick and thin lines complementing the artwork just follow. In his work, the artist firmly believes that an academic background in art is not necessary to create one. Rather, Yasser emphasises the true purpose of art and how it should be used as a form of selfexpression which goes beyond any levels of intelligence quotient. He says, “Art is about

beauty of the soul and beauty of life. And while we do art, we inevitably find stories in each one.” Truthfully, his way of thinking harmoniously conforms to his pieces. In the latest highlight of his artistic career, Yasser Al Mulla finally hosted his first solo exhibition called “Lines telling a story”. The

exhibition consists of 35 black and white pieces made purely from pen and canvas. Each illustration – completely different from one another – aims to take the guests into the odyssey of his life. Having to live with a colour-mixed optic condition, Yasser believes that the use of discursive and

monochromatic lines is also a way to attract his audience in communicating his diverse thoughts. Recognizing that his uncommon and magnificent use of line technique is limitless and knows no time bounds. He says: “Lines are unlimited. The lines can go on for a hundred years or for 200 years

more. Using the lines to express yourself is infinite.” Yasser Al Mulla’s exhibition filters nothing. In “Lines telling a story” each of his pieces is partnered with short narratives elaborating the meaning behind his drawings. Not only do his drawings captivate the audience, but most of the people were completely taken aback by his ability to write. As an artist, reaching his audience with his resonating message is one of his top purposes in doing art which is

why he decided to keep it written in Arabic and English. Not only are his words poetic, relative and deeply compelling but is also purely authentic.

accurate meanings all set down on a piece of paper and canvas, ready to be interpreted by the creative minds of his audience.

Yasser Al Mulla might be new to the field of art but his works prove themselves otherwise. Yasser Al Mulla is the kind of artist who sticks with authenticity and to the purest form of art. No filter. No edits. Just raw entries of meandering lines with

When asked about his interest and plans in exploring other mediums of art, the artist was incredibly open to try something different other than drawing. He graced Qatar Today with an open ended and noteworthy quote by saying, “It’s art; you can start anytime with anything.” 53 > QATAR TODAY > JUNE 2019

culture > doha diary

QATAR ACHIEVES GLORY YET AGAIN AS HIA RECOGNIZED AS “BEST AIRPORT FOR PASSENGER EXPERIENCE”

DOHA FESTIVAL CITY DISTRIBUTES IFTAR BOXES TO WORKERS A simple yet thoughtful act of kindness during Ramadan.

n this Holy Month of Ramadan, Doha Festival City collaborated with Qatar Charity and the Traffic Department to distribute two thousand iftar boxes from IKEA’s restaurant to the community. The simple sweet gesture also stands to raise awareness on the importance of community efforts during Ramadan. The sumptuous iftar boxes were distributed to drivers, security guards, retailers’ staff, crews and construction workers. The DFC team delivered the boxes at the mall’s taxi pick up and drop-off area in the vicinity of Al Shamal Road, Alkhiritiyat area and at Qatar Charity Organization Ramadan tents. Robert Hall, General Manager, Doha Festival City, said, “We believe that we have a role to play in the community that has chosen us as their preferred destination. So to recognize the Holy Month of Ramadan and gift iftar boxes to those who are still working during the iftar hour to break their fast and sustain themselves until they have their iftar with their families and friends.”

Hamad International Airport, which recently reached its 5-year anniversary in May 2019, keeps growing beyond boundaries.

n a study by AirHelp, the world’s leading air passenger rights specialist, Hamad International Airport (HIA) has been named the “Best Airport for Passenger Experience” for the second consecutive year. Qatar Airways, the national carrier of Qatar, was also ranked as the number one airline. The study ranked 132 airports on punctuality, quality of service, dining and shopping experiences. According to the study, customers had the best experience at HIA. Airports were rated based on on-time performance (60% of the score), service quality (20%), and food and shopping options (20%). HIA is home to Qatar Duty Free (QDF), an award-winning shopping emporium and its passenger terminal complex boasts 12 lounges and an airport hotel, featuring a Vitality Well-being & Fitness Centre, to provide a hassle-free experience.

QF RDI AND QDB PARTNERS TO HOLD WORKSHOP ON PROTECTING DIGITAL PLATFORM Conducting workshop for start-ups and SMEs encourages them for long-term success of their business.

atar Foundation Research, Development, and Innovation (QF RDI) and Qatar Development Bank (QDB) recently co-hosted a training workshop designed to empower technology-based start-ups and small and medium sized enterprises (SMEs) with tools to protect their digital platforms. The workshop took place at St. Regis Doha, explored the link between intellectual property (IP) and technology development, and their contributions to promoting local innovation. The workshop brought together officials from QF RDI and QDB, along with Qatar’s leading technology entrepreneurs, who shared their knowledge and expertise on why digital assets is key to building a successful business, and how start-ups can protect their technologies. It also builds on QF RDI's and QDB’s ongoing efforts to

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support local technology start-ups, and nurture entrepreneurship in Qatar. John McEntire, Director of Industry Development and Knowledge Transfer, QF RDI and Abeer Al Hammdi, Director of Innovation and Economic Development, QF RDI, spoke about the importance of protecting digital assets, the best practices, and how IP plays an instrumental role in technology development.

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city life > doha diary

QATAR ACADEMY SIDRA HONOURS STUDENTS OF CLASS OF 2019

Eighteen students graduate with glory from Sidra.

atar Academy Sidra (QAS), part of Qatar Foundation’s (QF) Pre-University Education, has celebrated the graduation of its Class of 2019 in a ceremony at Multaqa (Education City Student Center). The event saw 18 students honoured in the presence of Mrs Buthaina Ali Al Nuaimi, President of PUE, QF, as well as QAS board members, faculty, family members, and friends. Dr Asmaa Al Fadala, Director of Research and Content Development at the World Innovation Summit for Education, delivered the keynote address. She congratulated the graduates on their achievements, and shared some words of advice as they prepare to take the next step on their journey. This year, the graduates are headed to colleges and universities all around the world, including the USA, Canada, Hong Kong, Qatar, UK, Netherlands, and Oman. QAS was launched in 2012, and this year’s Class of 2019 marks the second graduating class of QAS, bringing the total number of alumni to 21.

THE "VISION FOR ALL" INITIATIVE

GRADUATE STUDENTS OF TEXAS A&M AT QATAR ACCREDITED Students were honoured for their incredible academic performances.

exas A&M University at Qatar recognized and honoured its outstanding graduates at a Suhoor held recently. At the event, graduating seniors as well as master’s students were given honorary validations. Each graduate was named Student of the Year by Texas A&M University. It involved recognitions from its six academic programme and graduate studies. Since 2003, Texas A&M University has offered undergraduate degrees in chemical engineering, electrical engineering, mechanical engineering and petroleum engineering at Qatar Foundation’s Education City, and graduate degrees in chemical engineering since fall 2011. Texas A&M at Qatar has awarded more than 1,050 degrees. The various graduates who were honoured were: Alaa Abdalla, graduate student in liberal arts; Ahmad Jamal A A Al Kuwari, graduate in mechanical engineering; Abouelkassim Becetti, graduate in electrical engineering; Menatollah ElGendy, graduate in science; Arshad Ali, graduate in chemical engineering; Najla Badar, graduate in petroleum engineering; and Maria Christina Bismonte Orillano, chemical engineering graduate student.

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MAGRABi Optical, the leader in vision care and eyewear throughout the Middle East, donates 10,000 pairs of optical frames.

AGRABi Optical launched an initiative in support of “The Arabian Eye” campaign during the Holy Month of Ramadan as a platform to cherish the cultural identity and heritage of Arabs. The latest initiative aims to donate 10,000 pairs of optical frames to children and the elderly in need for every pairsunglasses or eyeglasses sold during the last ten days of Ramadan across MAGRABi Optical stores. For this purpose, MAGRABi Optical collaborated with a number of charity organizations in the countries in which it operates. The campaign also calls to inspire and empower the vision of a contemporary Arabia that cherishes its common values, cultural heritage of the past, and embraces its diversity in the new world of today. Amin Magrabi, CEO of MAGRABi Retail said, “80% of what a human can learn is perceived through the eyes. We understand the reallife impact of poor vision and we always strive to give everyone the opportunity to have healthy eyesight and improve the quality of their lives. To build on the spirit of giving during Ramadan, we are delighted to announce the ‘Vision for All’ Magrabi initiative, with the aim of giving back to the communities in which we operate in.”