Saudi authority receives 5,837 patent applications in 2022

RIYADH: Qatar’s inflation surged by 4.01 p.c year-on-year in March, because of an increase of costs throughout eight classes, in response to knowledge launched by the Planning and Statistics Authority.  

The Shopper Worth Index of March 2023, which is a broad measure of inflation, reached 105.55 factors, up by 0.20 p.c in comparison with February’s CPI.  

Based on the information launched by PSA, recreation and tradition recorded the best surge in worth with 13.63 p.c enhance.  

Housing, water, electrical energy, and different gasoline elevated by 8.65 p.c, clothes and footwear by 4.9 p.c, schooling by 2.61 p.c, transport by 2.5 p.c, and eating places and accommodations by 2.25 p.c.  

The 2 different teams – well being and meals and drinks – each witnessed a CPI enhance of 1.62 p.c and 1.06 p.c year-on-year in March 2023.  

Based on Kamco Make investments, a regional non-banking monetary firm, Qatari banks recorded the best mortgage enhance amongst Gulf lenders in the course of the fourth quarter of 2022 regardless of a stiff rate of interest surroundings.  

Qatari banks recorded the best mortgage development at 3.5 p.c in the course of the fourth quarter of 2022, in comparison with a drop in lending in the course of the quarter earlier than, Kamco’s report mentioned citing GCC central banks. 

The Kamco Make investments GCC banking sector report additionally added that on the finish of the fourth quarter of 2022, combination credit score amenities in Qatar reached 1.3 trillion Qatari riyals ($357 billion), principally because of a 9 p.c enhance in lending to actual property, adopted by 5.5 p.c and 5.4 p.c development in loans to providers and public sector, respectively.   

Lending to consumption fell by 2.5 p.c whereas lending to business fell by 4.4 p.c total within the home mortgage market.  

Deposits at Qatari-listed banks elevated considerably by 3.1 p.c to $405 billion.
Saudi Arabia, then again, stored main the GCC in buyer deposits with $691 billion after seeing a quarter-on-quarter acquire of 0.2 p.c within the fourth quarter of 2022.  

Moreover, the whole return on fairness for the GCC banking business elevated in the course of the fourth quarter of 2022, reaching one of many highest ranges in recent times at 12.3 p.c, up from 11.8 p.c on the finish of the third quarter.  

The very best return on fairness within the area on the finish of the fourth quarter was recorded by UAE-listed banks, at 13.9 p.c, intently adopted by Saudi Arabian and Qatari banks, with RoEs of 12.5 p.c and 12.4 p.c.