Qatar is to list treasury bills on the country's exchange this week, leapfrogging ahead of Gulf rivals in the country's efforts to develop its debt markets.
The Qatar Central Bank approved the listing of treasury bills on the Qatar Exchange and plans to allow the listing of government bonds at a later stage.
The aim is to eventually provide a secondary market for treasury bills for banks and other investors, the Qatar Central Bank said in a statement released yesterday.
The move would help to increase "the diversity of investment tools for investors", the statement said.
The first treasury bills are to be listed on Thursday.
Qatar joins a number of regional exchanges seeking to develop their bond markets.
Qatar was picking off the "low-hanging fruit" in moves towards a more sophisticated debt market, said Mohammed Dawood, the managing director of global capital financing at HSBC Middle East. "It could be that this is more of a positioning play by the Qatar Exchange to attract regional listings," he said. "The starting point here is using existing securities and treasury bill listings by the government as a base to promote more issuances within Qatar."
T-bills are one of the pieces needed for the development of a yield curve for government debt, composed of short-term to long-term securities.
Development of this would allow other Qatari companies to come to market with debt sales more easily, said Mark Watts, the head of fixed income at the National Bank of Abu Dhabi.
"Qatar is at the forefront of developing a liquid, full curve for its paper," he said. "The fact that they're doing this issuance means another gap is being filled in."
No government in the Gulf has developed a yield curve, with only Egypt and Turkey having developed the necessary market infrastructure. Qatar raised US$5bn (Dh18.36bn) from a bond sale at the end of last month, the biggest issuance from a government in the Gulf this year.
Currently, bond sales by governments of Gulf countries typically take place on the London or Luxembourg stock exchanges.
The UAE Government has made no decision on pending plans for sales of federal bonds next year, Zawya Dow Jones reported this month.
ghunter@thenational.ae
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Community Shield info
Where, when and at what time Wembley Stadium in London on Sunday at 5pm (UAE time)
Arsenal line up (3-4-2-1) Petr Cech; Rob Holding, Per Mertesacker, Nacho Monreal; Hector Bellerin, Mohamed Elneny, Granit Xhaka, Alex Oxlade-Chamberlain; Alex Iwobi, Danny Welbeck; Alexandre Lacazette
Arsenal manager Arsene Wenger
Chelsea line up (3-4-2-1) Thibaut Courtois; Cesar Azpilicueta, David Luiz, Gary Cahill; Victor Moses, Cesc Fabregas, N'Golo Kante, Marcos Alonso; Willian, Pedro; Michy Batshuayi
Chelsea manager Antonio Conte
Referee Bobby Madley
Killing of Qassem Suleimani
Race 3
Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars
The specs
Engine: 2.9-litre twin-turbo V6
Power: 540hp at 6,500rpm
Torque: 600Nm at 2,500rpm
Transmission: Eight-speed auto
Kerb weight: 1580kg
Price: From Dh750k
On sale: via special order
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A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
RESULTS
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The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
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.
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
What is hepatitis?
Hepatitis is an inflammation of the liver, which can lead to fibrosis (scarring), cirrhosis or liver cancer.
There are 5 main hepatitis viruses, referred to as types A, B, C, D and E.
Hepatitis C is mostly transmitted through exposure to infective blood. This can occur through blood transfusions, contaminated injections during medical procedures, and through injecting drugs. Sexual transmission is also possible, but is much less common.
People infected with hepatitis C experience few or no symptoms, meaning they can live with the virus for years without being diagnosed. This delay in treatment can increase the risk of significant liver damage.
There are an estimated 170 million carriers of Hepatitis C around the world.
The virus causes approximately 399,000 fatalities each year worldwide, according to WHO.
Veere di Wedding
Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania
Verdict: 4 Stars
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