Qatar market index knocks at 13,000 points
The Qatar market index (QE 20) gained one per cent to reach 12,854.26 points on Monday, May 5. Market bellwether Industries Qatar closed 1.73 per cent higher at QAR188.30. Al Ahli Bank dipped by 0.56 per cent to QAR53.50. On May 4, the lender obtained an upgrade in ratings from Fitch; the long-term currency rating moved to A from A- and the short-term foreign currency rating moved to F1 from F2. Fitch also enhanced the bank’s support rating floor to A, while affirming viability rating at bbb- and support rating at 1, which reflects the strong financial position of Al Ahli Bank.