Qatari stocks gain across the board
The Qatar Exchange 20 Index edged up by 0.65 per cent to 11,243.35 points on Wednesday, January 29. Qatar National Bank advanced by 1.86 per cent to QAR186.40. Mannai Corporation dived by 2.87 per cent to QAR98.10, finishing as the top loser. Gulf Drilling International (GDI) fell by 0.77 per cent to QAR77.40. Earlier in the day, the GDI confirmed that under the patronage of HE Dr Mohammed bin Saleh Al Sada, Minister of Energy and Industry, in a joint venture of Gulf International Services, signed a new five-year contract with Occidental Petroleum of Qatar Ltd, for the jack-up drilling rig, Al-Wajba. It will take effect on January 1, 2015, when the current contract expires; the new contract is valued at QAR830 million (U$215.8m).