Exchange Rates in Qatar


Doha: Exchange rates for foreign currencies as issued on Wednesday by Qatar National Bank (QNB) are as following: Currency Buying Selling A.E. Dirham 0.97800 1.00100 Australian Dollar 2.38880 2.50750 Bahraini Dinar 9.44500 9.80600 Canadian Dollar 2.64530 2.77360 Swiss Franc 3.95140 4.13010 Chinese Yuan 0.47710 0.51840 Danish Kroner 0.49560 0.57580 Egyptian Pound 0.06820 0.08270 Euro 3.85520 4.06810 Sterling Pound 4.48170 4.73640 Hong Kong Dollar 0.44380 0.49580 Indian Rupee 0.04270 0.04530 Jordanian Dinar 5.08700 5.22000 Japanese Yen 0.02270 0.02400 Korean Won N/A 0.00320 Kuwaiti Dinar 11.70700 12.09500

Source: Qatar News Agency

Launching a project to develop the system of income-generating projects in TVET institutions


The head of the National Commission for Vocational and Technical Education and Training, Dr., announced. Ziad Goelis, today, Tuesday, announced the launch of a project to design and develop the business model for technical and vocational education and training institutions (income-generating projects) to open the way for them to develop their products in terms of selling what these institutions produce, whether schools or training centers, to achieve their financial sustainability, and develop their facilities while maintaining… Supervision and subordination to the government according to the rules.



The announcement came from Dr. Joelis during the Commission’s meeting with the representative of German Cooperation (GIZ) and the consulting team from Development Consulting Solutions (Solutions), at the Commission’s headquarters in Ramallah.



The meeting was attended by the Authority’s staff, Mr. Hamdallah Jaber, Dr. Imad Salem, Dr. Nasr Attiani, Raouf Janjat, and from Mr. Muhannad Amin Solutions Company, and Eng. Munjid Hussein.



Dr. confirmed. Joelis emphasized the importance of this project for technical and vocational education and training institutions to invest in the projects they produce from their students within the education and training process to sell them. Or providing services, such as cooking, etc., in specialized centers for the benefit of the local community, within a government control mechanism for disbursement, expenditure, and purchasing, to ensure the financial stability of these institutions, and to relieve the government of financial spending.



He stressed that the Authority considers this project to be one of the important projects that it is working on with its partners, especially since the project is allocated to schools, institutes, and government centers. It can also be distributed to private and private institutions in the country, so that the benefit will spread to everyone, and that schools, centers, and institutes will have the opportunity to market their products for continuity. .



Dr. explained. Joelis said that this first project must succeed and achieve the goals that were set for it, to serve young people of both sexes, and because its success in its first phase will make its dissemination to all professional and technical institutions easier and more effective, as well as strengthening the relationship between the institutions and the surrounding local community.



Dr. stressed. Joelis stressed the need to raise awareness of the importance of the vocational and technical education and training sector for its role in serving youth and future generations, by providing high-quality vocational and technical education and training that meets the needs of the Palestinian market, and provides job opportunities for young people, and the possibility of establishing special projects, after they graduate from vocational and technical education institutions, especially in light of The urgent need in the market for these specializations, due to the low unemployment rates in them, and the availability of great opportunities to open private projects for graduates capable of accommodating large numbers of young people.



In turn, the German Cooperation Advisor, Mr. Rami Al-Battat, said that the German Cooperation and the Authority had agreed on the importance of the project and the necessity of starting its implementation in stages, and then the German Cooperation signed a consulting contract with Solutions Company to design the business model in preparation for the Authority to present it to the government.



Al-Battat pointed out that the business model is based on motivating vocational and technical education and training institutions to increase and develop their productivity, sell their products of goods and services in the markets, and achieve financial returns that achieve financial independence and sustainability, while maintaining sound financial control in accordance with government requirements.



He added: Currently, schools and vocational centers are not allowed to sell their products of various goods and services in the fields of carpentry, blacksmithing, vehicle maintenance, food production services, and other fields, which would have provided revenues allocated to the institution for development and spending instead of relying on government budget allocations.



For his part, Mr. Rani Al-Nahhas, partner in the Consulting Development Solutions Company, confirmed that the company will design an easy-to-implement business model that will allow institutions to work freely and provide the necessary income for them, and at the same time allow the government to follow up on its work through an effective regulatory system



Source: Maan News Agency

Deposit Rates in Qatar


Doha: Deposit rates at opening as issued on Wednesday by Qatar National Bank (QNB) are as following: USD JPY CHF GBP 1M 5.43412 -0.25000 1.32000 5.18000 2M 5.51122 -0.25000 1.22000 5.13000 3M 5.58831 -0.25000 1.18000 5.11000 6M 5.72181 -0.20000 1.25000 5.14000 12M -0.15000 1.22000 5.15000 QAR SAR AED BHD 1M 5.90000 5.85000 2.05000 5.75000 2M 5.95000 5.55000 2.15000 5.75000 3M 6.00000 6.06000 2.40000 5.75000 6M 6.10000 6.17000 2.85000 5.75000 12M 6.25000 6.35000 3.15000 5.25000

Source: Qatar News Agency

Oil Prices Stabilized In Monday Trading


Oil prices recorded stability in trading, on Monday, above the level of $90 per barrel, which it reached last week for the first time in ten months after Saudi Arabia and Russia announced new cuts in their production.



Brent crude rose 19 cents, or 0.21 %, to $90.84 a barrel, while US West Texas Intermediate crude fell two cents, or 0.02 %, to $87.49.



Last month, the International Energy Agency reduced its forecast for oil demand growth in 2024 to one million barrels per day, and attributed its decision to the poor state of the economy./End



Source: National Iraqi News Agency

Exchange Rates in Qatar -1-


Moroccan Dirham N/A 0.39070 Malaysian Ringgit 0.73200 0.79080 Norwegian Krona 0.31270 0.36900 New Zealand Dollar 2.16700 2.29430 Omani Riyal 9.40100 9.64900 Philippine Peso 0.05900 0.06530 Pakistani Rupee N/A 0.01360 Saudi Riyal 0.96400 0.98600 Swedish Krona 0.31580 0.37140 Singapore Dollar 2.66230 2.78160 Tunisian Dinar N/A 1.25940 Turkish Lira 0.10330 0.12310 U.S. Dollar 3.63000 3.65000 Silver / USD 28.59620 28.61620 Gold / USD 2360.28000 2360.79000 Platinum / USD 1055.29000 1062.15000 South African Rand N/A 0.21360

Source: Qatar News Agency

Oil Prices Stabilize As Markets Await Inventories And Economic Data


Brent crude futures settled slightly above $90 per barrel, today, Tuesday, as investors await a series of macroeconomic data scheduled for release later this week.



The price of global benchmark Brent crude fell six cents to $90.58 per barrel, while US West Texas Intermediate crude futures fell two cents to $87.27.



Brent reached $90 a barrel last week for the first time in ten months, after Saudi Arabia and Russia announced that they would extend voluntary supply cuts amounting to a combined 1.3 million barrels per day until the end of the year.



Investors are awaiting data from the sector regarding US crude inventories, scheduled to be issued this evening.”/End



Source: National Iraqi News Agency

US Stocks End Higher


Major US stock indexes closed higher at the end of the trading session on Monday.



The S&P 500 gained 30.24 points, or 0.68%, to end at 4,487.73 points, while the Nasdaq Composite gained 158.83 points, or 1.15%, to 13,920.35.



The Dow Jones Industrial Average rose 89.89 points, or 0.26%, to 34,666.48.



Source: Qatar News Agency

OPEC Oil production rises, led by 3 countries, including Iraq


OPEC oil production rose last August by 113 thousand barrels per day, led by Iraq, Iran and Nigeria, despite the continuation of voluntary cuts and the policy of the OPEC+ alliance to reduce supplies.



The monthly report issued by the Organization of Petroleum Exporting Countries, today, showed that total oil production in the 13 OPEC member states rose to 27.449 million barrels per day during the past month, compared to 27.336 million barrels per day in July 2023.



The increase in OPEC oil production last August comes despite the OPEC+ alliance’s agreement to reduce supplies by two million barrels per day starting from November 2022, until the end of 2024, in addition to the voluntary reductions implemented by 9 countries from the alliance, led by Saudi Arabia, according to what was monitored by the Energy Research Unit.



OPEC oil production in August 2023 OPEC oil production increased during August by 8 countries, led by Iran, Iraq and Nigeria, according to the monthly report.



Oil production in Iran – which is exempt from the OPEC+ agreement to reduce supplies – jumped by about 143,000 barrels per day during the past month, reaching 3 million barrels per day.



Oil production in Nigeria increased by about 98 thousand barrels per day, reaching 1.269 million barrels per day, and oil supplies in Iraq increased by 38 thousand barrels per day, reaching 4.277 million.



Libya’s supplies of crude oil also increased by about 28 thousand barrels per day, bringing the total to 1.154 million barrels per day, which boosted OPEC’s oil production last August.



In the UAE, crude oil production increased to a total of 2.913 million barrels per day, with an increase of 17 thousand barrels per day over the past month.



Crude oil supplies in Gabon, Equatorial Guinea and Kuwait increased by about 11, 7 and 2 thousand barrels per day, respectively.



A decrease in production from 5 countries. OPEC oil production declined last August from 5 member states of the organization, led by Saudi Arabia and Angola, according to the report seen by the Energy Research Unit.



Saudi Arabia’s oil production fell by 88 thousand barrels per day, bringing the total to 8.967 million barrels per day during last August, with the voluntary reduction continuing to be implemented.



Saudi Arabia continues to voluntarily reduce production by one million barrels per day since last July and will continue until the end of this year.



Crude oil production in Angola also declined by about 60,000 barrels per day, bringing the total to 1.115 million barrels per day.



Venezuela’s supplies of crude oil fell by about 42,000 barrels per day, reaching 730,000 barrels per day, according to the report, which was monitored by the Energy Research Unit./End



Source: National Iraqi News Agency

Oil Prices Stable as Market Awaits Data on Inventories, Economy


Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week.



The international benchmark Brent contract dipped 6 cents to $90.58 a barrel, while US West Texas Intermediate crude futures edged 2 cents lower to $87.27.



Brent reached $90 a barrel last week for the first time in 10 months after Saudi Arabia and Russia announced they would extend voluntary supply cuts of a combined 1.3 million barrels per day, or bpd, until the end of the year.



Investors awaited industry data on US crude stockpiles due on Tuesday evening.



Source: Qatar News Agency

Iraq and the Sultanate of Oman discuss strengthening relations in the commercial, industrial and investment fields


The Ambassador of the Republic of Iraq in Muscat, Qais Saad Al-Amiri, met with the Undersecretary of the Omani Ministry of Trade, Industry and Investment Promotion, Ibtisam bint Ahmed Al-Furujiyah.



The Ministry of Foreign Affairs stated in a statement, “During the meeting, the two sides discussed topics of interest to both countries in the commercial, industrial, and investment fields.”



The Ambassador stressed, “Iraq’s keenness to develop its economic relations with the Sultanate of Oman.”/End



Source: National Iraqi News Agency

Gold Steady as Investors Await US Inflation Data


Gold prices settled into a holding pattern on Tuesday as investors awaited US inflation figures that could provide an updated view on interest rates after the Federal Reserve kept the door open for further policy tightening.



Spot gold was flat at $1,922.30 per ounce, while US gold futures eased 0.1% to $1,946.10.



As for other precious metals, silver rose 0.4% to $23.16, platinum gained 0.3% to $901.02 and palladium added 0.3% to $1,221.83.



Source: Qatar News Agency

Iraq and Saudi Arabia discuss aspects of cooperation in the trade field and joint agreement on oil prices


The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Ambassador Muhammad Hussein Muhammad Bahr Al-Ulum, received the Ambassador of the Kingdom of Saudi Arabia to Iraq, Abdulaziz bin Khalid Al-Shammari, in the Ministry’s building in Baghdad.



The Ministry of Foreign Affairs stated in a statement: “The Undersecretary thanked the Ambassador for his efforts to enhance cooperation and raise the level of relations that have united the two brotherly countries since he assumed his duties in Baghdad.



The two sides discussed ways to strengthen bilateral relations between the two countries, as well as discussing a number of topics of common interest and ways to develop aspects of cooperation in the trade field, especially the Iraqi-Saudi agreement regarding oil prices to ensure the stability of crude oil markets.



For his part, the Ambassador expressed thanks and appreciation for the continued and fruitful cooperation with Iraq at all levels and in various economic and commercial fields./End



Source: National Iraqi News Agency