QATAR GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]
Qatar Charity Completes Construction of Kosovo’s Second Largest Mosque [May 23]
“Qatar Charity has completed the construction of Kosovo’s second largest mosque at a cost of QR 1.4 million ($385,000). “The mosque consists of three floors and includes special classes for teaching the Holy Quran and Arabic language,” Mahmoud Abbas, Qatar Charity’s representative in Kosovo said. “The mosque, built on an area of 800 square meters, can accommodate 9,000 worshippers,” he said. Charity work also focused on orphan sponsorship, income-generating projects and seasonal projects in partnership with the Kosovo’s Social Association Maqboula (Acceptable), Mahmoud said. A comprehensive sponsorship of 900 orphans includes covering their health, education, sports and recreational activities. Under a plan to empower economically the orphans, the charity, in cooperation with Maqboula, assisted 50 families with income-generating projects such as milky cows, groceries and car workshops..” [Complete Report]
Qatar Stocks Tumble to 2-Month Low on $70 Oil [May 23]
“Qatari shares tumbled to the lowest level in two months, leading a decline in Gulf Arab markets, as oil prices closed near a low for the year and European stocks fell last week on concern economic growth may slow. Industries Qatar, the second-biggest petrochemicals maker in the Middle East, dropped to the lowest since August and National Bank of Kuwait also declined. Gulf Finance House EC, a Bahrain-based investment bank, retreated to the lowest in at least six years. Qatar’s gauge lost 1.5 percent to 6,974.96, the lowest since March 15. The Bloomberg GCC 200 Index, which tracks 200 equities in the region, fell 1 percent at 14:48 in Dubai. Kuwait’s Combined Group Contracting Co. advanced. Crude oil has tumbled 19 percent this month and closed at $70.04 a barrel on May 21..” [Complete Report]
Qatar’s New Aluminium Smelter Eyes Peak Output on Back of Stable Prices [May 23]
” With global aluminium prices expected to hold at the $2,000 (Dh7,346) a tonne-plus level through the year, Qatar’s newly commissioned giant smelter is aiming to make a perfect pitch. It was last month that the $5.7 billion Qatalum plant was formally commissioned with an annual installed capacity of 585,000 metric tonnes of premium quality aluminium ingots. Since then, shipments have already been made to clients in Europe, Southern Asia and the Far East, as well as to Saudi Arabia. In fact, Qatalum which expects to touch peak production before the year is out sees a significant buildup in its prospects among a regional clientele over the medium term. “Certainly, the growth of regional markets especially in the construction industry is fuelling and increasing the appetite for aluminium,” said Jan-Arve Haughan, Qatalum chief executive officer..” [Complete Report]
