Real estate related economic and financial news covering the MENA region.
Qatar market closed flat amid lack of catalysts
Jun 17, 2012
As most GCC markets remained closed Sunday, observing the ascension of the Prophet (pbuh), the Qatar Exchange (QE) ended even at 8,251.23 points. Like the UAE, Qatar expects index provider MSCI's verdict on June 20, whether it will be upgraded to emerging market from frontier market. Shares of Qatar Gas Transport, known as Nakilat, closed half a percent lower at QR15.50. Earlier in the day Nakilat said it has assumed on June 14 assumed full responsibility for the management and operations of its four VLGCs (Very Large Gas Carriers), expanding Nakilatís critical role in Qatarís maritime sector by adding in-house ship management and operations to the spectrum of marine services offered by the company. The statement to the QE added that "Completed on June 15, full responsibility for the management and operations of Nakilatís four liquefied petroleum gas (LPG) carriers ó Al Wukir, Bu Sidra, Lubara and Umm Laqhab, all jointly owned by Nakilat and Milaha ó has been transferred from Shell Trading and Shipping Company Ltd (STASCO) to Nakilat Qatar Shipping Ltd (NSQL), a wholly owned subsidiary of Nakilat. Nakilatís long-term goal is to transfer management and operations of all its wholly-owned vessels to its NSQL subsidiary."