Qatar’s retailer Al Meera dips, cancels MoU
The Qatar Exchange 20 Index gained 0.77 per cent, reaching 11,134.70 points on Wednesday, February 5 amid tailwind from East Asia, where market indices recovered slightly. Qatar National Bank, the biggest lender in the GCC by assets, ended up by 0.50 per cent to QAR180. Al Meera Consumer Goods declined by 0.54 per cent to QAR148. Earlier in the day, the retail chain said that it pulled out of a memorandum of understanding (MoU) with both Regency Group Holding and the Qatari branch of Dubai-based logistics giant Aramex that was signed in December 2012, for the purpose of entering (directly or through one of its subsidiaries) into a joint venture to build, operate, promote and partner in a logistics facility and services business in the state of Qatar; with a view of expanding to its full potential in accordance with the terms of the MoU.