Arab Funds – Wagdy Ghoneim Sun, 19 Sep 2021 04:35:27 +0000 en-US hourly 1 Arab Funds – Wagdy Ghoneim 32 32 United Arab Emirates to invest $ 12 billion in UK Sun, 19 Sep 2021 00:52:59 +0000

This amount complements the investment partnership between the two countries, which began in March, with an initial commitment of 800,800 million (8,928 million) from Mubadala and 200,200 million (4,234 million) from the United Kingdom.

“The UAE is making an investment of $ 10 billion (about $ 11.7 billion),” Mubadala said in a statement, adding that the commitment, as before, was for five years.

The technology, infrastructure, science and renewable energy sectors are “seen as the key sectors that will support the economic growth of the two countries,” the statement said.

Mubadala is one of the largest sovereign wealth funds in the world, investing in various sectors across the world. In France, it has invested in the Lac d’Argent funds to support the capital of large companies.

The announcement coincides with the arrival in London of Crown Prince Sheikh Mohammed bin Saeed Al Nahyan from Abu Dhabi, the capital of the United Arab Emirates. The future “.

“Such ambitious alliances are at the heart of the government’s strategy to be a leading global force in science and technology, to generate comprehensive investments, to support the whole of the UK and to create more valuable jobs, ”Johnson said in a statement.

The additional investments include an investment of 500,500 million (585 million euros), as part of the capital increase of City Fiber, the installation of fiber to bring fast Internet to eight million households and the creation of 10,000 jobs.

Next month, the UK will host the World Investment Summit in London, bringing together major investors to support Britain’s plan for the Green Industrial Revolution and promote the development of clean technologies.

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Why Justin Trudeau’s affordable housing strategy isn’t working Sat, 18 Sep 2021 13:38:06 +0000

The images of homelessness and Toronto’s military-style intervention to rid Trinity Bellwoods Park of vulnerable camp residents in the midst of a pandemic were enraged, especially for governments that say they are determined to make a strategy of affordable housing their top priority.

And those we see on the streets are only part of the equation, making up only about 20 percent of the total homeless population.

Raising the Roof, an organization that provides long-term solutions to homelessness, estimates that around “50,000 people are the ‘hidden’ homeless – people who stay temporarily with family or friends because they are homeless. have nowhere to go. These are the precarious.

Affordable housing is the lightning rod of an issue in this election as many Canadians have found that their money is not going as far as it used to. From housing to randomly discounted Amazon products on Prime Day, the cost of living increased almost overnight. For the first time in years, inflation has returned to political football for the first time in a generation, as it jumped to 3.7% in July this year.

It was in this context that Justin Trudeau said: “You will forgive me if I do not think about monetary policy. You will understand that I am thinking of families.

You’ll forgive me if I don’t like such a flippant remark – inflation is Monetary Policy.

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The Canada Mortgage and Housing Corporation (CMHC) is the primary vehicle through which the government administers its affordable housing initiatives. So let’s see what “affordable” means when it comes to housing.

If you spend less than 30% of your gross income on housing, it’s affordable, which means a lot of us are drowning.

The pandemic exacerbated the shortage of affordable housing, but it was a thirty-year emergency. And as usual, we, as a society, have tinkered around while funding social services that could have intervened to help people on the verge of housing insecurity.

Now we have a crisis.

In January 2020, National Capital Councilor Catherine McKenney introduced a motion, making Ottawa the first city to declare a housing emergency. It was adopted unanimously.

Like most Canadian cities, Ottawa has seen rental rates skyrocket in recent years. The Canadian Center for Policy Alternatives’ analysis of the rental market in Canada notes: “Over the past two years, average rental prices in the city have increased 13.5% while vacancy rates hover around from a relatively low level of 1.8%.

According to CMHC’s Rental Market Report 2020, the average market rent in Ottawa is $ 1,358; in Calgary it is $ 1,195 and in Toronto it is $ 1,523. Note that the Canadian Emergency Response Benefit (CEP) only paid $ 2,000 per month.

Budget 2017 introduced the National Housing Strategy, a now $ 70 billion 10-year program that promises to build 125,000 new homes within that time frame.

The program is based on several components, but the most relevant for increasing the housing stock (housing supply) are the National Housing Co-Investment Fund and the Rental Construction Finance Initiative. The first “provides capital contributions and low-cost loans focused on two key priority areas of the National Housing Strategy: the creation of new affordable housing and the repair and renewal of existing affordable and community housing.”

About $ 220 million has been distributed in Ottawa, but Councilor McKenney says the program is in trouble. Housing should favor mixed income, with 30% of housing to be offered at 80% of median market rent.

But McKenney says the program isn’t about affordability, it’s difficult to access, and there’s a lengthy approval process. CBC reported that the application process “includes over 200 questions, and once an application is received and placed in a queue, it can take up to 289 days for a funding agreement to be issued. finalized ”.

As of September 2020, the co-investment fund had approved only two projects in British Columbia. The data show that until now, “Alberta, Newfoundland and Labrador, Nova Scotia, Quebec, Saskatchewan, the Northwest Territories and the Yukon had no finalized funding for any. of their requests ”.

The other component is rental construction finance, a low-cost loan program designed to encourage rental construction by private developers.

Look at these generous terms: 50-year amortization rate at low interest rate, fixed over a long period and payments are due after 12 months of “stabilized effective gross income”, that is, if the developer does not show a steady income for years, they will never have to pay a dime for principle or interest. The criteria only require 10 percent or more of the total number of units at 30 percent of the median household income. The median household income in Ottawa is $ 115,750, according to Statistics Canada.

Who do the Liberals think can afford nearly $ 3,000 a month in rent? This is what happens when you assume that everyone is from the middle class.

The National Housing Strategy is a bitter failure. Councilor McKenney notes that the City of Ottawa has received $ 370 million since the strategy, but 62% of national housing funds have gone to developers.

University of Toronto professor David Hulchanski called the strategy a “public relations gimmick” in The Globe and Mail, and “the amount of money spent now is no more than the previous Conservative government. was spending, little bit upwards in 2016. ”(There was an additional funding for rental construction in the fall 2020 economic update of $ 12 million).

The Parliamentary Budget Officer noted, “It is not clear that the National Housing Strategy will reduce the prevalence of housing need from 2017 levels. Overall, Canada’s National Housing Strategy maintains largely current funding levels for ongoing activities.

If you trust Herongate, you cannot trust the Liberals to provide affordable housing.

In 2018, Ottawa developer Timbercreek Communities (and parent company Timbercreek Asset Management) renewed 100 Herongate families, or “low-rental townhouse demolition-evictions to” help the area become a community. premium and active rental for adults. to deliver a resort lifestyle, ”as described by The Leveller.

Vice reveals that the neighborhood has the highest density in the city and is home to “1,360 residents who categorize themselves as black and 670 as Arab. The Heron Gate Tenant Coalition’s own survey of residents who will be affected by the upcoming demolition found that 89% are people of color – 44% Somali and 24% Arab.

This is how systemic racism occurs in housing.

Herongate is the largest urban eviction campaign in Canada and it is continuing. While the Liberals claim their commitment to affordable housing is beyond reproach, the riding in which Herongate resides, Ottawa South, has been owned by David McGuinty – brother of former Ontario premier Dalton McGuinty – since 2004.

What have the Liberals done to ensure that this community keeps it housed?

Nothing. And that’s why we can’t have beautiful things.

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The interest on the purchase of foreign funds increases the QSE, the index stands at 0.73 … Fri, 17 Sep 2021 18:10:13 +0000

(MENAFN – Gulf Times) Sustained buying interest from foreign funds raised the Qatar Stock Exchange this week, which saw the stock exchange showcase its efforts to advance the environmental, social and governance agenda to better attract investors global.

Supported by strong buys in industrial meters, the 20-stock Qatar index was up 0.73% this week, helping QNB Financial Services start the market for the QATR-sponsored exchange-traded fund. Masraf Al Rayan.

Gulf funds and foreign individuals turned bullish this week, which saw Qatar’s consumer price index inflation rise 2.95% year-on-year in August.

The weakening net selling pressure from local and Arab retail investors also had its influence on the market this week.

Still, losers outnumbered winners by a very slim margin this week, which saw a total of 162,396 QATR valued at 406,572 QR change hands in 35 trades.

The Islamic index rose faster than conventional indices this week, which saw a total of 26,564 Bank of Doha sponsored QETFs valued at QR 287,679 across nine transactions.

Market cap saw an estimated QR 7 billion or 1.04% jump to QR 646.08 billion, mostly in large and mid-cap segments this week which saw industrials, consumer goods and services, and retailers. banks together constitute more than 84% of the total volume of trade.

The total return index rose 0.73%, the All Share index by 0.65% and the All Islamic index by 0.78% this week, which saw no trading in sovereign bonds.

The industrial sector index jumped 2.99%, real estate (0.23%), banking and financial services (0.22%) and consumer goods and services (0.08%); while insurance was down 1.24%, telecoms (0.89%) and transport (0.49%) this week which saw no trading of treasury bills.

Major players have included Industries Qatar, QNB, Mesaieed Petrochemical Holding, Investment Holding Group, Qamco, Gulf International Services, Baladna, Ezdan, Ahlibank Qatar, Qatari German Medical Devices, Qatari Investors Group, Barwaq and Nakilat this week which saw the figure overall business and increasing volumes.

Nonetheless, Qatari General Insurance and Reinsurance, Vodafone Qatar, Milaha, Doha Bank, Medicare Group, Masraf Al Rayan, Qatar First Bank, Qatar National Cement, Qatar Electricity and Water and Al Khaleej Takaful were among the losers this week which saw Wasata Financial Services, a brokerage firm wholly owned by the Investment Holding Group pact for the provision of liquidity to Mekdam Holding Company in the venture capital market.

The industrial sector represented 52% of the total volume of trade, consumer goods and services (17%), banks and financial services (16%), real estate (10%), transport (3%), telecommunications (2%) and insurance (1%) this week.

In value, the share of the industrial sector stands at 45%, banks and financial services (29%), consumer goods and services (12%), real estate (6%), transport (4%) , telecoms (3%) and insurance (1%) this week.

Net purchases of foreign funds increased significantly to QR 188.96 million from QR 151.22 million in the week ended September 9.

Gulf institutions turned net buyers of QR 5.92 million against net sellers of QR 6.75 million the week before.

Foreign individuals were net buyers at QR 4.12 million versus net sellers of QR 5.72 million a week ago.

Net sales of local retail investors fell significantly to QR 0.55 million from QR 24.98 million in the week ended September 9.

The reservation of net profits of Arab individuals decreased significantly to QR 5.22 million from QR 14.85 million the previous week.

Gulf retail net sales weakened significantly to 2.16 MQ from 2.31 MQ a week ago.

The Arab funds net profit reservation decreased to QR 0.01 million from QR 0.22 million in the week ended September 9.

However, net sales of domestic funds strengthened considerably to QR 191.08 million from QR 96.4 million the previous week.

Total trade volume increased 40% to 1.11 billion shares, value 60% to QR 2.75 billion, and trades 28% to 54,279.

The real estate sector’s trade volume nearly doubled to 111.56 million shares and the value more than doubled to QR 176.75 million with a 61% increase in transactions to 5,618.

The transport sector’s trade volume soared 80% to 28.18 million shares, the value 78% to QR 99.91 million, and transactions 37% to 2,622.

There was a 61% increase in trade volume in the insurance industry to 12.02 million shares, 49% in value to QR 34.2 million and 29% in transactions to 773.

The industrial sector’s trade volume increased 57% to 572.42 million shares and the value more than doubled to QR 1.24 billion on a 58% increase in transactions to 19,547.

The telecommunications sector saw a 47% expansion in trading volume to 21.71 million shares and 4% in value to QR 68.64 million but a 27% contraction in transactions to 3,014.

The trading volume of the banking and financial services sector jumped 14% to 177.44 million shares, the value by 27% to QR805.09 million and transactions by 15% to 16,207.

The market saw an 8% increase in trade volume in the consumer goods and services sector to 195.12 million shares, 23% in value to QR328.61 million and 12% in trades to 6,498.



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Charities call for more NSW funding amid COVID Fri, 17 Sep 2021 02:15:37 +0000

Leading community groups helping struggling families in western and southwestern Sydney during the COVID-19 lockdown depend on volunteers and donations in the absence of government support.

Speaking during an investigation into the NSW government’s handling of the pandemic, community leaders said they had yet to receive government funds to support their activities, nearly 12 weeks after lockdown.

The majority of the 12 local government areas with the most severe lockdown restrictions – which have at times included a curfew and limits on the movement of workers – are in the city’s west and southwest.

Residents – many of whom are from non-English speaking backgrounds – have been confused by the restrictions, how to get help with illness and where to look for financial help, according to community groups.

As such, they have turned in droves to their local leaders.

Amar Singh, president of Turbans 4 Australia, told the survey that the organization is delivering up to 1,400 food baskets per week, a feat made possible only by the goodwill of the community.

“We have no paid staff… all we do is (thanks to) community donations that come in,” Singh said.

“People who volunteer, they donate to us too.”

The organization, like the Arab Council of Australia and the Lebanese Muslim Association (LMA), has applied for grants to support their work.

“(But) the reality is that when we need funding, support and resources, it’s not really available,” said LMA director Rabih Elkassir.

Grants for the LMA and Turbans 4 Australia were approved last week, the government agency Multicultural NSW said.

Penrith Mayor Karen McKeown also told the inquest that some of her constituents rely on city council for food.

“When we hand out these baskets, people tell us they haven’t eaten in days, especially in the more locked up areas,” Ms. McKeown said.

“They are afraid to leave their homes, they don’t have their own vehicle, they don’t want to take public transport.”

Visa holders and asylum seekers in particular fall through the cracks, Singh said.

He told the inquest that the organization was forced to fundraise to provide some members of the community with proper funerals amid the lockdown.

“We should recognize everyone who is in Australia right now as Australians… because the tragedy is not going to ask them if they have a certain stamp on the passport before it affects them,” he said. .

NSW Multicultural Executive Director Joseph La Posta said $ 750,000 had been allocated to specialist charities to help asylum seekers with accommodation, clothing and food during the crisis.

Funding has also gone to 150 grassroots community organizations, he said, with an additional $ 3 million set to be distributed to small-scale organizations like LMA and Turbans 4 Australia.

“We are trying to change these things in less than a week,” he said.

NSW Resilience Commissioner Shane Fitzsimmons said the investigation “tens of millions of dollars” went to the provision of food, personal items and grants across the state.

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UAE pledges to increase investment in Britain Wed, 15 Sep 2021 21:30:56 +0000

UK Business Updates

The United Arab Emirates will announce a sharp increase in investment in the UK as the oil-rich Gulf state expands a multibillion pound partnership with the UK government.

UAE and UK officials will sign an agreement on Thursday that commits the UAE to investing in UK infrastructure, clean energy and technology. A government official briefed on the talks said the UAE’s overall five-year investment commitment would be around £ 10 billion.

This would be double the amount expected when the UK and UAE announced a five-year “sovereign investment partnership” in March, with an initial pledge that Mubadala, Abu Dhabi’s state fund, would invest £ 800million in the UK life sciences sector.

Khaldoon al-Mubarak, managing director of Mubadala, told the Financial Times that the UAE has already invested £ 1.1bn in UK companies and funds, including £ 500m in CityFibre, a group of telecommunications infrastructure, over the past six months.

He added that he expected UAE investments to ‘comfortably’ reach £ 2 billion by the end of the year.

“These are all spaces that will grow considerably over the next period and the two countries agree in terms of prospects,” Mubarak said.

The United Arab Emirates have invested £ 500million in UK telecommunications infrastructure group CityFibre over the past six months © Alamy Stock Photo

The deals come as Sheikh Mohammed bin Zayed al-Nahyan, Crown Prince of Abu Dhabi and de facto leader of the United Arab Emirates, meets British Prime Minister Boris Johnson on a visit to deepen economic ties and trade between the two nations.

Johnson and Sheikh Mohammed will sign a separate bilateral agreement aimed at boosting trade and establishing a “new collaboration” in areas such as climate change, regional stability and food security.

This year’s £ 1.1bn investment covers the acquisition of stakes in seven companies and funding for five UK funds, including some of the money earmarked for the life sciences fund.

Lord Gerry Grimstone, UK Investment Minister, said the UAE investment would be “the largest of its kind to date in this parliament”, adding that other foreign investors “would stand up and would take note “.

Thani al-Zeyoudi, the UAE’s trade minister, said the Gulf state was looking to double non-oil trade by £ 5.8 billion from last year. Global trade was £ 12 billion.

The United Arab Emirates, a former British protectorate and the second largest economy in the Middle East, could also open direct bilateral talks for a trade deal with a post-Brexit UK.

2003-2021 bar graph, greenfield investment *, billion dollars showing UAE 14th largest investor in UK

The United Arab Emirates is a member of the Gulf Cooperation Council made up of six countries, a regional trading bloc that negotiates trade deals as a consortium. But its progress is often icy. Zeyoudi said the UAE will continue to work through the GCC on trade negotiations, but added that the Gulf state will also continue its own negotiations to expand its business with the UK.

“Either the track, the GCC track or the UAE track, is going to be launched as early as 2022,” he said. “We in the United Arab Emirates. . . going to look at the whole economic engagement between us and the UK government, so we’re talking about investments, we’re talking about AI, trade in services, commodities, non-trade barriers [and] customs matters.

The investments and the new partnership agreement underline that the United Arab Emirates and the United Kingdom have overcome weak points in their relations, especially after the Gulf state jailed and convicted British academic Matthew Hedges for espionage there. is three years old. Hedges denied the charges and was pardoned.

Greenfield * bar chart, billion dollars 2003-2021 showing that UAE investment in UK is concentrated in three sectors

Relations with the government of former Prime Minister David Cameron grew strained as the United Arab Emirates pushed London to take a tougher stance against the Muslim Brotherhood, the Islamist movement.

In the wake of the coronavirus pandemic, the Gulf state, which has been one of the most assertive Arab powers for the past decade, has recalibrated its foreign policy to place more emphasis on economic diplomacy.

Abu Dhabi, the capital of the United Arab Emirates, is also increasingly investing in technology-related industries and renewable energy as it seeks to diversify its oil-dependent economy.

Grimstone said he hoped the UAE’s investments would boost regional development in the UK and help the “race to the top” agenda, including investing funds in projects to decarbonize the economy. He said work on wind farms and new car factories would particularly benefit industrial parts of the UK.

“You have to see this in the context of the UK wanting to forge these strong bilateral relations,” said Grimstone. “Maybe we haven’t always paid as much attention as we should in the past to this strong historical relationship and our two leaders absolutely felt it was the right time to reinvigorate that.”

Mubarak said: “Basically we are betting on each other: we are betting on the growth of the UK and the UK is betting on the UAE.”

Additional reporting by George Parker in London

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A new venue for filmmakers: Saudi Red Sea International Film Festival – culture – Al-Ahram Weekly Mon, 13 Sep 2021 20:12:12 +0000

The first round of the Saudi Red Sea International Film Festival (RSIFF) will finally take place in the second week of December.

Originally scheduled for March 2020, it has been postponed to November 11, 2021 due to the Coronavirus pandemic. It is now postponed to December 6. Initially in conflict with the 43rd Cairo International Film Festival (CIFF) – it was scheduled for December 1-10 but, following coordination efforts with the RSIFF, now runs from November 25 to December 5 – the date was a source of confusion.

CIFF President Mohamed Hefzy said the new dates should promote “a smooth transition of media, films and filmmakers between the two festivals due to their geographic proximity”. Hefzy believes that with its huge budget, the RSIFF could be a richer alternative to the Dubai Film Festival, which has been interrupted, and he hopes it will manage to continue, unlike the Gulf festivals which did not last. .

“It is sure to attract most Arab productions, especially with its direct participation in the production of a large number of Arab films with huge sums of money through its Film Fund.” This could be a challenge for other festivals in the region. “We cannot deny the history of CIFF, the caliber of the staff and the international label, nor that Egypt had an ancient, important and prestigious film industry and magnificent venues, but enormous efforts are needed to move forward. at this stage. “

On the other hand, the importance of an event like the RSIFF lies in the funding opportunities it will offer. Last June, the RSIFF Foundation announced a $ 10 million Red Sea Fund, to support 100 feature film projects in development, production and post-production in Africa and the Arab world, with Saudi filmmakers also eligible to apply for short film projects.

A few days later, the fund was expanded by US $ 4 million from the Saudi Film Commission, supporting 40 more films. US $ 14 million is a remarkable figure which, although the news was greeted with enthusiasm by filmmakers grappling with the aftermath of the pandemic and a more general decline in production opportunities in the region, has raised questions. Will Saudi support shape the future of industry in the region?

So far, Mohamed Hammad is the only Arab filmmaker to have received funding from RSIFF. Although he had to be postponed, the 2019-2020 cycle granted him US $ 500,000 to produce A Journey of Bales and Bread that he was able to keep. Hammad views RSIFF support very positively. He thinks such work is essential given the lack of interest producers and platforms have in arthouse films anyway.

“As a filmmaker, what really matters to me is the extent to which the support allows me to realize my vision without any intervention, pressure or direction,” he says. And it has been. Hammad believes that Egypt’s own scene should have more diversity, encompassing a variety of approaches rather than fixed models, which would improve distribution on all platforms; the Egyptian platform Watch It would benefit from this.

The pandemic has had a global impact on production anyway, he says, further reducing risk-taking capacity. Despite filling the yawning void left by the coronavirus pandemic, RSIFF funding only makes up for the many Arab film funds that have disappeared from the scene. Hammad, for his part, had never received support before, producing his work – most notably the award-winning Withered Green (2017) – at his own expense. Financial considerations are one thing, but “my vision” reigns supreme. RSIFF’s initiatives, he believes, must be seen in the context of a new generation of Saudi filmmakers who have made their mark, including Mahmoud Sabbagh, who manages the current first round.

“Sabbagh is the director of Baraka Meets Baraka (2016), which is a revolutionary film in its context and timing.” Saudi society itself is changing, with a lot of religious reform and cultural liberation. “These factors belie the fear that support will be based on controlling the film. There may be motivations behind the Saudis’ support for cinema, but they do not affect the independence or freedom of the filmmakers – at least in my experience. I am loyal to my film, ”he repeats,“ and not to a donor, a production company, a festival or even myself. My loyalty is to my film. It is very clear to me. “

Producer Hossam Elouan – the force behind films like Hawy (2010), Ali, the Goat and Ibrahim (2016), Cactus Flower (2017) and You Will Die At Twenty (2019) by Sudanese director Amjad Abu Alala – is keen to take the initiative Saudi Arabian in several different ways. RSIFF also funds cinemas and studios and develops integrated filming locations, while supporting local talent with both production support and scholarships to study abroad. “Saudi Arabia has the potential to be the biggest film market in the Middle East,” Elouan said, “which could also be a very promising market for Egyptian films”.

Supporting Arab films that could be part of the festival circle, he believes, is part of Saudi Arabia’s new image as a patron of the arts in the region. The quality and nature of the films selected will therefore be to the liking of Arab and international cinematographic institutions, and may even contribute to a better overall image of Arab cinema. The impact of Saudi support on Egyptian cinema, he says, is positive in all respects. Many Egyptian filmmakers had refrained from submitting their work to the Doha Film Institute following tensions with Qatar, leaving them only the El Gouna Film Festival (GFF) and CIFF for funding opportunities; and both operate through a competition.

Elouan says that after You Will Die At Twenty he practically lost interest in producing because the opportunities were so limited. RSIFF rekindled his enthusiasm. The problem with the Egyptian film industry is that it is purely commercial, which means that it has little international presence. “Our first and last goal is to produce films that express our reality and our country. I participated in the production of a Sudanese film, and the film acquired Egyptian nationality in addition to Sudanese, French, Norwegian and German nationality. The world is open and there is no need for prejudices and unjustified fears.

For Intishal Al Tamimi, director of GFF, any move to support the film industry is a step forward. “And the Saudi initiative is a step forward in many ways.” The first is that it will increase the Arab share (currently only 1.5 percent) of the global film distribution market; Saudi initiatives could raise this figure to 3 or 3.5%. This will bring attention to the region but will not necessarily improve the quality of the movies. But Al Tamimi is optimistic about the concepts and choices of RSIFF: “The festival emphasizes new, fresh and serious cinema, as is the case in the major festivals in the region such as Cairo, El Gouna, Carthage and Marrakech. It is very important and it is a real plus.

The selection of festival staff, programmers and jury reflects the seriousness, impartiality and integrity of a festival with an artistic focus, moreover: “There was concern that the festival would reflect other considerations, such as direct promotion of Saudi Arabia’s new image. , which could affect its independence, but that did not happen even though the decision to postpone the opening date from November 11 to December 6, for example, was not made by the festival itself.

Beyond social and cultural considerations which will not apply to supported productions, there are no guidelines or censorship limits on what can be shown in Saudi cinemas; not all supported films will have a commercial release in Saudi Arabia. Given that and the caliber of the juries, Al Tamimi is optimistic. RSIFF’s decision to restore the works of great Egyptian director Khairy Bishara confirms that it is moving in the right direction.

“This is a purely artistic decision and it is very important because no other festival has the capacity to restore films. This, in addition to such huge financial support for Arab, African and Saudi films, confirms that the festival’s approach is in line with the aspirations and efforts of major Arab festivals.

The concern, rather, is that the support will be sustained over time. The RSIFF faces specific obstacles, including the reluctance of some Arab and international filmmakers to link their projects to Saudi Arabia for political reasons. “There is a certain Saudi image that still exists and it will take effort to change it. Another obstacle is social or official censorship, which can make a significant portion of them inaccessible to the local public.

Considering its richness, RSIFF can be seen as a challenge for other Arab festivals, but at least so far that has not been the case. “For the El Gouna Film Festival, which is known for its solid program from day one, I can say that this year we have the best program compared to the previous four rounds in all competitions. We also have a large number of very good projects in development and post-production, so many that we had to increase the number of projects accepted. “

Al Tamimi says that for a festival that keeps improving, like El Gouna, the danger is not the competition but the lack of development, the absence of passion or the failure to treat every round as if it is was the first.

“The presence of a festival with great potential, like the RSIFF, or a festival with a long history and professional staff, like Cairo, Carthage or Marrakech, motivates us to do more. With a month and a half from the opening date, we have secured most of the film program and we are approaching the opening of the fifth round with great confidence. Maybe my biggest ambition since the beginning of my work in the festival is to create a fund for the film, because for me it is the main element of any festival, and I hope that the right conditions for it will happen one day.

* A version of this article is published in the September 9, 2021 edition of Al-Ahram Weekly.

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Support for the purchase of foreign funds helps QSE cross 11,100 points Sat, 11 Sep 2021 18:12:22 +0000

(MENAFN – Gulf Times) The Qatar Stock Exchange climbed above 11,100 points this week, mainly due to increased buying interest from foreign institutions.
Industry, telecommunications, insurance and banking counters saw above-average demand as the Qatar 20-stock index stood up 0.26% this week, which saw Nebras Power, a subsidiary of Qatar Electricity and Water Company, form a joint venture in Brazil as part of strengthening its regional aspirations in Latin America.
Weakening net selling pressure from local retail investors and national funds also played a role in the market this week, which saw Investing Holding Group, Gulf International Services (GIS), Salam International (SIL) and Vodafone Qatar find their place in the 20 actions. barometer, as of October 1.
More than 51% of traded components extended their gains this week, with the Qatar Financial Center Purchasing Managers Index pointing to growing optimism in Doha’s business environment, particularly in the non-energy private sector, in August.
Nonetheless, Gulf funds and individuals were seen as net sellers during the week, which saw Qatar witness a sharp monthly increase in building permits issued in August.
Arab individuals and institutions were also seen as net profit takers this week, which saw a total of 84,466 QATR exchange traded funds sponsored by Masraf Al Rayan and valued at QR 209,191 out of 18 transactions.
Foreigners were seen as net sellers this week, with a total of 79,705 Bank of Doha sponsored QETFs valued at QR 859,592 million for 11 transactions.
Market cap saw around QR 2 billion, or 0.26%, jump to QR 639.44 billion, mostly in small-cap segments this week, which saw industrials, consumer goods and services and banks together constitute about 88% of the total volume of trade.
The Total Return Index rose 0.26%, the All Share Index 0.31% and the All Islamic Index 0.28% this week, which saw no trading in sovereign bonds.
The industrial sector index rose 0.8%, telecommunications (0.74%), insurance (0.4%) and banking and financial services (0.28%). while transportation was down 0.66%, real estate (0.13%) and consumer goods and services (0.03%) this week, which saw no T-bill swaps.
Major players include Investment Holding Group, Qamco, Qatar General Insurance and Reinsurance, Qatar First Bank, Doha Insurance, QNB, Commercial Bank, SIL, Widam Food, GIS and Vodafone Qatar this week, which saw overall revenue decline in the midst of higher volumes.
Nonetheless, Al Khaleej Takaful, Qatari Investors Group, Al Khaliji, Dlala, Medicare Group, Ezdan and Nakilat were among the losers this week, which saw Al Khaleej Takaful, Investment Holding Group and Ooredoo join the Al Rayan Islamic Index.
The industrial sector accounted for 46% of the total volume of trade, consumer goods and services (23%), banking and financial services (19%), real estate (7%), telecommunications and transport (2% each ) and insurance (1% each) this week, which saw QLM join the QE All Share Index and the QE Insurance Index from October 1.
In value, the share of banks and financial services amounts to 37% of the total, manufacturers (34%), consumer goods and services (16%), real estate (5%), telecoms (4% ), transport (3%) and insurance (1%) this week.
Net purchases of foreign funds increased significantly to QR 151.22 million from QR 104.82 million in the week ended September 2.
The net sale of domestic funds weakened slightly to QR 96.4 million from QR 97.44 million a week ago.
Net profit bookings from Qatari individuals fell significantly to QR 24.98 million from QR 26.99 million the previous week.
However, Arab individuals became net sellers to the tune of QR 14.85 million against net buyers of QR 5.01 million in the week ended September 2.
Gulf institutions were net sellers of QR 6.75 million against net buyers of QR 10.27 million a week ago.
Foreign individuals became net sellers to the tune of QR 5.72 million against net buyers of QR 1.29 million the previous week.
Gulf individuals were net sellers of QR 2.31 million versus net buyers of QR 2.4 million in the week ended September 2.
Arab funds made net profit takers of QR 0.22 million against net buyers of QR 0.65 million a week ago.
Total trade volume increased 2% to 796.07 million shares, while value decreased 13% to QR1.72 billion and trades 4% to 42,356.
The banking and financial services sector saw a 14% increase in trading volume to 154.97 million shares, but a 15% decline in value to QR632.65 million and a 6% decline in trades to 14 095.
The transport sector’s trade volume increased by 8% to 15.68 million shares, the value by 9% to QR 56.08 million and transactions by 38% to 1,917.
There was a 3% increase in trade volume of the consumer goods and services sector to 181.08 million shares, but a 16% decrease in value to QR 266.54 million and 11% transactions at 5,780.
The industrial sector’s trade volume increased 2% to 363.65 million shares, while the value fell 8% to QR 592.15 million and transactions decreased 8% to 12,377.
However, the insurance industry reported a 27% drop in trading volume to 7.48 million shares, 28% in value to QR23.03 million, and 24% trading to 600.
Real estate trading volume fell 18% to 58.46 million shares, value 16% to QR82.07 million, and transactions 8% to 3,483.
The telecommunications sector saw a 4% contraction in trade volume to 14.74 million shares and 14% in value to QR 66.28 million, but a 25% jump in transactions to 4,104.


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The QSE index wins on the purchase support of foreign funds Wed, 08 Sep 2021 20:35:00 +0000

The Qatar Stock Exchange gained more than 13 points on Wednesday, mainly thanks to the increase in purchase interest from foreign funds.
Widespread buying, especially in industrials, telecommunications and insurance sectors, pushed the 20-stock Qatar index up 0.12% to 11,076.22 points, recovering from an intraday low of 11,040 points.
More than 51% of constituents traded extended gains in the market, whose year-to-date gains were 6.14%.
The weakening net selling pressure from local retail investors had its influence on the exchange, whose market capitalization saw an increase of QR 87 million or 0.14% to QR 638.02 billion, mainly due to small cap segments.
Arab and foreign individuals were found to be less inclined to sell in the market, which saw the industrial, consumer goods and banking sectors together constitute about 89% of the total volume of trade.
Overall turnover and trade volumes were increasing on the stock exchange, where national and Gulf institutions were increasingly engaged in accounting for net profits.
Gulf individuals were seen as net sellers in the market, which saw a total of 85,723 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Bank of Doha) valued at QRS 367,726 out of 13 transactions.
The total return index gained 0.12% to 21,926.04 points, the Islamic Al Rayan (price) index by 0.06% to 2,513.19 points and the All Share index by 0.14%. at 3,518.76 points in the market, which saw no trading in sovereign bonds and treasury bills.
The industrial sector index rose 0.36%, telecoms (0.18%), insurance (0.17%), banks and financial services (0.1%), real estate (0.02 %), consumer goods and services (0.01%) and transport (0.01%).
Major players include Investment Holding Group, Qatar Islamic Insurance, QLM, Qatar First Bank, Qatar National Cement, QNB, Industries Qatar, United Development Company and Vodafone Qatar.
Nevertheless, Mannai Corporation, Qatari German Medical Devices, Alijarah Holding, Qatar Electricity and Water, Doha Bank, Dlala and Gulf International Services were among the agitators.
In particular, net purchases by foreign institutions increased to reach QR 51.09 million from QR 41.08 million on September 7.
Net sales by Qatari individuals fell significantly to QR 4.04 million from QR 20.01 million the day before.
Net sales of foreign individuals fell significantly to QR 0.42 million from QR 2.26 million on Tuesday.
The net turnover of Arab individuals fell significantly to QR 0.75 million from QR 1.74 million on September 7.
However, net sales of domestic funds increased significantly to reach QR 41.3 million from QR 15.51 million the previous day.
The net profit recorded by Gulf funds rose sharply to QR 3.42 million from QR 1.73 million on Tuesday.
Gulf individuals became net sellers at QR 1.17 million against net buyers of QR 0.39 million on September 7.
Arab funds had no major net exposure against net sellers to the tune of QR 0.21 million the day before.
Total trade volume increased 6% to 137.24 million shares, value 2% to Q322.64 million and trades 4% to 8,868.
The real estate sector reported a 24% increase in deal volume to 11.5 million shares, 18% in value to QR15.69 million and 79% in trades to 813.
The trading volume of the banking and financial services sector climbed 23% to 28.35 million shares, the value by 20% to 146.86 million QR and transactions by 22% to 3,681.
There was a 16% increase in the volume of trade in the industrial sector to 63.02 million shares, 11% in value to QR102.5 million and 18% in transactions to 2,580.
However, the insurance industry saw a 79% drop in trading volume to 0.74 million shares, 79% in value to 2.2 million QR and 34% in trading to 91.
The telecommunications sector’s trade volume fell by 70% to 1.01 million shares, the value by 74% to QR 4.55 million, and transactions by 70% to 328.
The market experienced a 21% contraction in transport volume to 2.51 million shares, 22% in value to 8.62 million QR and 14% in transactions 397.
The volume of trade in the consumer goods and services sector fell by 8% to 30.1 million shares, its value by 14% to QR 42.22 million, and transactions by 18% to 978.
In the venture capital market, shares of Al Faleh rose 0.29%; while those of Mekdam Holding fell 0.22%.

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Former banker Ashish Bhandari explains social impact investing Wed, 01 Sep 2021 19:51:00 +0000

Former Swiss private banker Ashish Bhandari shares expert insight into using private equity for positive social outcomes.

DUBAI, UNITED ARAB EMIRATES, September 1, 2021 / – Social impact investing is now more popular than ever. An investment strategy that aims to achieve positive social results, the process can take many forms resulting in a variety of results. A former Swiss private banker, Ashish Bhandari, based in the United Arab Emirates, explains more about the philosophy.

“Social impact investing involves focusing on generating capital for often very specific beneficial social causes,” said Ashish Bhandari, speaking from his office in Dubai, United Arab Emirates.

The focus can also be on significant environmental effects and effects, Bhandari continues. “Whether social or environmental, the emphasis of course remains on financial gains,” he adds.

With this, and according to the expert and ex-banker, social impact investments can take various forms on a large number of asset classes. One or more asset classes, he adds, are usually selected on the basis of a specific outcome.

“Whatever the basis for such investments, the aim of the process is always to use funds and investment capital subsequently to achieve positive results,” continues Ashish Bhandari, “whether environmental, social or a combination. both”.

A recent survey by the Global Impact Investing Network found that nearly 90 percent of investors who currently adopt social impact causes believe their investments consistently meet or exceed expectations.

The Global Impact Investing Network has hundreds of members in dozens of countries around the world. Founded just over ten years ago, the non-profit organization builds infrastructure and supports education, activities and research designed to facilitate and accelerate the development of the impact investing industry. .

The environment, a growing priority, says Ashish Bhandari

According to Ashish Bhandari, a particular focus on the environment forms an increasingly popular angle among those who engage in social impact investing. “Environmental angles are more prevalent today than ever,” suggests the expert, “investing with social impact in the world is now increasingly oriented towards broader concerns about green causes”.

Overall, Bhandari reports that investors who follow one or more impact investing strategies invariably favor one or the other – social or environmental. Even when the focus is on the environment, the same investors usually also place particular emphasis on broader social responsibility, he points out.

“Whatever the nature of the investments made in this area, there is invariably an underlying sense of duty,” adds Bhandari, concluding, “to positively serve global society as a whole.”

Former Swiss private banker, Ashish Bhandari currently based in the United Arab Emirates. Bhandari left a lucrative career in finance almost five years ago to start his own business.

The former banker is also the proud holder of a private pilot’s license. In his spare time, Bhandari’s personal interests include visiting the gym, reading, adopting technology, and spending time with family and friends.

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Global Opportunity Analysis and Industry Forecast, 2021-2030 Wed, 25 Aug 2021 11:02:00 +0000

Takaful Insurance Market by Distribution Channel (Agents & Brokers, Banks, Direct Response & Others), Type (Takaful Family & General Takaful) & Application (Personal & Business): Global Opportunity Analysis & Industry Forecast, 2021-2030

New York, August 25, 2021 (GLOBE NEWSWIRE) – announces the publication of the report “Takaful Insurance Market By Distribution Channel, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030” – https: // www / p06126694 /? utm_source = GNW

Takaful is an insurance system based on Islamic principles of mutual assistance and giving and policyholders under a takaful agreement agree to guarantee each other and contribute to a pool or mutual fund instead. to pay premiums. The pool of collected contributions creates the takaful fund and each participant’s contribution is based on the type of coverage required and their personal situation. A takaful contract specifies the nature of the risk and the duration of the cover, similar to that of a conventional insurance policy. The takaful fund is managed and administered on behalf of the participants by a takaful operator charging an agreed fee to cover the costs.
The increase in awareness of takaful insurance in Muslim and non-Muslim countries has increased market penetration by offering better services compared to conventional insurance, which is a major stimulus for the growth of the market. . In addition, the distribution of excess funds among members in case no claims arise and the adoption of technology in the takaful insurance market are some of the factors that are propelling the growth of the market. However, the lack of standardization due to the contrast between countries to change the regulation of takaful insurance and the limited awareness of the coverages included in the takaful insurance policy are some of the major factors hampering the growth of the market in the market. takaful insurance. On the contrary, government initiatives aimed at developing takaful insurance by helping new companies to enter the market easily, will help new players to bring more innovative products to consumers. In addition, advancements in technologies used in insurance such as blockchain, predictive analytics, artificial intelligence and others are expected to significantly boost the takaful insurance market in the coming years.

The takaful insurance market is segmented on the basis of distribution channel, type, application, and region. By distribution channel, it is segmented into agents and brokers, banks, direct response and others. By type, it is separated into familial and general takaful. Based on the application, the market is divided into personal and commercial. By region, it is analyzed across CCG, Asia, MEA and the rest of the world.
The report analyzes the profiles of major players operating in the takaful insurance market such as Abu Dhabi National Takaful Co., Allianz, AMAN Insurance, Islamic Insurance, Prudential BSN Takaful Berhad, Qatar Islamic Insurance, SALAMA Islamic Arab Insurance Company, Syarikat Takaful Brunei Darussalam, Takaful International and Zurich Malaysia. These players have adopted various strategies to increase their market penetration and strengthen their position in the takaful insurance market.

Main benefits for stakeholders
• The study provides an in-depth analysis of the takaful insurance market along with current and future trends to illustrate impending pockets of investment.
• Information on key drivers, restraints, and opportunities and their analysis of impact on takaful insurance market size is provided in the report.
• Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the industry.
• Quantitative analysis of takaful insurance market from 2021 to 2030 is provided to determine the market potential.

Key market segments

By distribution channel
• Agents and brokers
• Banks
• Direct response
• Others

By type
• Family takaful
• General Takaful
o Takaful engine
? Liability insurance
? Full and optional coverage
o Property & Fire
o Medical & Health Takaful
o Marine, aviation and transport
o Others

By application
• Staff
• Commercial

By region
o Saudi Arabia
o United Arab Emirates
o Bahrain
o Kuwait
o Qatar
• Asia
o Malaysia
o Indonesia
o Brunei
o Rest of Asia

o Iran
o Jordan
o Sudan
o Egypt
o Nigeria
o Rest of the MEA

• Rest of the world

Key market players
• Abu Dhabi National Takaful Co.
• Allianz
• AMAN insurance
• Islamic insurance
• Prudential BSN Takaful Berhad
• Islamic insurance from Qatar
• SALAMA Islamic Arab Insurance Company
• Syarikat Takaful Brunei Darussalam
• Takaful International
• Zurich Malaysia
Read the full report:

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