Al Khaliji, Qatar's smallest bank by market value, plans to sell bonds this year for the first time, taking advantage of tumbling borrowing costs to support long- term infrastructure lending.
The Doha-based lender will raise "a little bit" less than the US$750 million authorized by shareholders, the bank's chief executive Robin McCall said. The average yield on financial services debt in the six-nation Gulf Cooperation Council fell 21 basis points, or 0.21 percentage point, this year to 2.86 per cent on February 22, after touching an all-time low of 2.75 per cent last month, according to the HSBC/Nasdaq Dubai GCC Conventional Financial Services US Dollar Bond Index.
"There's investor demand for appropriate paper in the market so I don't think it's a bad time at all at the moment," Mr McCall said. "We're at an all-time low in terms of interest rates." Al Khaliji is rated A- at Fitch Ratings, the seventh-highest investment grade.
Qatari banks raised $3.8 billion from the bond market last year, compared with none in 2011, as they stepped up lending to the government, according to data compiled by Bloomberg. The world's largest exporter of liquefied natural gas is planning to spend $138bn on investments by 2016 as it seeks to diversify the economy away from energy.
Qatar, which holds Standard & Poor's third-highest investment grade of AA, is planning to build a metro network, roads, hotels and stadiums as it prepares to host the 2022 soccer World Cup finals.
The nation's 11 domestic banks, which compete for customers in a country of 1.8 million, have relied on lending to public sector entities. Loans to that category accounted for 46 per cent of total credit facilities in December, up from 39 per cent a year earlier, central bank data show. Public sector loans jumped 47 per cent over the year, more than five times the growth rate for credit to private businesses.
"We're doing a lot of the infrastructure, supporting the infrastructure build-out in Qatar, which tends to be longer term and we need longer-term funding to support that," Mr McCall said. The bond sale will allow the bank to lengthen the "maturity profile on our funding book," he said.
Al Khaliji reported a 5 per cent increase in 2012 profit to 512m Qatari riyals.
* Bloomberg News
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
The%20specs%3A%202024%20Mercedes%20E200
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THE%20SPECS
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Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
U19 WORLD CUP, WEST INDIES
UAE group fixtures (all in St Kitts)
Saturday 15 January: v Canada
Thursday 20 January: v England
Saturday 22 January: v Bangladesh
UAE squad
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly, Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya Shetty, Kai Smith
Dr Afridi's warning signs of digital addiction
-
- Spending an excessive amount of time on the phone.
- Neglecting personal, social, or academic responsibilities.
- Losing interest in other activities or hobbies that were once enjoyed.
- Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
- Trying but failing to reduce phone use multiple times.
- Experiencing sleep disturbances or changes in sleep patterns.
- Experiencing physical problems such as eye strain, neck pain, or thumb and wrist pain.
- Encountering friction with family and friends over the amount of time spent on the screen.
What are the guidelines?
- Under 18 months: Avoid screen time altogether, except for video chatting with family.
-
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
-
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
-
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
-
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
COMPANY%20PROFILE
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Honeymoonish
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The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.