sunday 19 april 2020 to advertise contact: tel: 44557 857 ... · 4/19/2020 · the good news is...
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Sunday 19 April 2020 To advertise contact: Tel: 44557 857 or email: [email protected]
05SUNDAY 19 APRIL 2020 CLASSIFIEDS
ARTECHSage Accounting, Peachtree, QuickBooks, Dynacom, DacEasy, Tally, POS, Bar Code, Fixed Assets Software’s.Tel: +974 44375654 E-mail: [email protected]
ACCOUNTING SOFTWARES
GEM ADVERTISING & PUBLICATIONS(Overseas Newspaper Advertisements) Tel: 44442001 - GSM: 55783303
ADVERTISING OVERSEAS NEWSPAPER
ATTESTATION
CALIBRATION SERVICES
ASIA TRANSLATION & SERVICES CENTRELeading Legal Translators & Document Legalization Since 1987. Indian Certificate Attestation. Head Office: 44364555/50233133 - Al Hilal Branch: 44621334 - Salwa Road Branch: 66038181 Mobile Contacts: Sufiyan - 66192881/Yoonus - 77813190
ARMSTRONGWindow/Split/Package/Central Units. Sales, Services, Spare Parts/Window/Split & Central A/C. Annual Contracts. Mobile: 555 54 274 (Kumar)E-mail: [email protected] www.armstrongmachinery.com
A/C MAINTENANCE & SERVICES
ALWASEEM TRANSLATION & SERVICES CENTERAuthorized Translators - Company Formation and PRO Services (Opp-Karwa Bus Stat. Doha, Al-Saeed Buil.2nd Floor.) M : 50822292 / 31586616 T : 44116727 E-mail : [email protected] Web : www.alwaseemtranslation.com
BUSINESS SET-UP
HELPLINE GROUPCertificate attestation from INDIA| UK | USA | CANADA | PHILIPPINE and Gulf Countries20 Years of experience and ISO Registered CompanyHELPLINE GROUP, C Ring Road Tel:(+974)-44271100Mob: 31550149 Email: [email protected]
HELPLINE GROUPCompany Registration, Local Sponsorship, Trademark, Feasibility Study, Tax systems and PRO Services. Our branches QATAR| KUWAIT | UAE | INDIA | UK | CANADA. (formed more than 3000 companies)HELPLINE GROUP, C Ring Road Tel: (+974)-44271100MOB: 77711129 Email: [email protected]
AL HAYIKI TRANSLATION & SERVICES EST.Authorized Translation & Certificate Attestation since 1992Sofitel Complex (Mercure Hotel) Ground Floor, Office No. 25Mob: 33411150 & 33411153, Tel: 44367755 & 44181990E-mail: [email protected] Web: www.alhayikitranslation.com
QUEENS LAND SERVICESBusiness Set-up and Sponsorship. Debt Collection. Real Estate Services Mob: 77776917 E-mail: [email protected]
INVEST IN QATAR
IMMIGRATION SERVICES
HELPLINE GROUPComplete Manpower SolutionsBusiness Structure and Business PlanningTel: (+974)-44271100 Mob: 77711129 Web: helplinehrconsulting.com
HR CONSULTATION
AL SALEH GROUP(HR)Tel: 44423838Send CV to Email: [email protected]
ARMSTRONGRepairs/Spare Parts & Rentals. Power from 5KVA to 2000KVA Sales/Services/ Spare Parts & Rentals. Annual Contracts.Mobile: 555 54 274 (Kumar) E-mail: [email protected] www.armstrongmachinery.com
GENERATORS SERVICING
CLEANING AND MAINTENANCE
AL MUTWASSIT CLEANING & PEST CONTROLComplete General Cleaning For Residential & Commercial. Supply of Cleaning Staff on Contract Basis. Pest Control Services. Office: 44367555 Mob: 30029977/55875920 E-mail: [email protected]
AL SALEH CLEANING & HOSPITALITYComplete General Cleaning Services for Old & New Villas.Tel: 44423838 GSM: 55508393 - 55526943 - 50190005
CAPITAL CLEANING COMPANY W.L.L.Complete General Cleaning Services for Old and New VillasTel: 44582257 Mobile: 33189899/ 55565328E-mail: [email protected]
WOKEER INDUSTRIAL AREAFrom 150 - 200 LaborsMobile: 660 02 704 (Steve)E-mail: [email protected]
LABOUR CAMP FOR RENT
ARMSTRONG1000-4000 Gallon Tankers - Daily/Monthly/Yearly Contracts. Mobile: 660 41 449 (Neil)E-mail: [email protected].
SEWAGE & WASTE REMOVAL
SCAFFOLDING
APOLLO ENTERPRISES SCAFFOLDING DIVISIONContract/Hire/Sale - Salwa Road. Tel: 44693334 Fax: 44416274 GSM: 55521089/55560246/55536285 www.apollo-qatar.net - E-mail: [email protected]
REAL ESTATE
AL MUFTAH SERVICESTel: 44634444/44010700 Mob: 55542067/55823100 E Mail: [email protected] Website: www.rentacardoha.com
TRANSLATION
HELPLINE GROUPAuthorized Translation Centre.We speak more than 100 Languages. C Ring Road, Near by Toyota Signal Tel: (974)-44271100 Mob: 70114857 Email: [email protected]
PARTY KINGDOMNear Jaidah Flyover, Nasrallah Centre. Tel: 44353501/ 44366431
E-mail: [email protected]
PARTY ITEMS & BALLOON DECORATION
ARMSTRONGPorta Cabins/Pre-Fabricated Buildings/Toilets/Security Cabins. Fire Rated/Non Fire Rated. Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.
PORTA CABINS (Sales & Rentals)
ARMSTRONGFive Peals-USA Sales/Rental Service/Cleaning, Sewage Removal. Daily/Monthly/Yearly. Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.
PORTABLE & CHEMICAL TOILETS (Sales & Rentals)
MEDIA SERVICES
RENT A CAR
AL MUFTAH RENT A CARMain Office: D’ Ring Rd, T: 44634444/44010700 Branches: Airport: 44634433 Al Khor: 44113344 E Mail: [email protected] Website: www.rentacardoha.com
OASIS RENT A CARYOU RENT MORE THAN A CAR WITH OASISAllen: 6641 7354 Tel: 4413 0011 - OasisCars.com [email protected] - - Great deals on long term rentals
REGENCY FLEETS (A Regency Group Co.)Special Corporate leasing and Rental rates. Price includes Comprehensive Insurance, Maintenance, Replacement Vehicle etc. Driven by Values. E-mail: [email protected] Tel: 44433822/44554046/44554048 Fax: 44554047 Airport Branch (24hrs): Tel.: 70482655
NATIONAL - ALAMO RENT A CARCars - 4WDs - Pickups - Buses - Chauffeur Drive Call: 5547 8150, 5040 0624 Web: www.national-qatar.comE-mail: [email protected]
BUDGET RENT A CARCompetitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section,Free Road Side Assistance, Easy & Fast Booking ProcessHead Office: Barwa Village T: 44325500 M: 66971703 Toll Free: 800-4627Email: [email protected] Website: www.budgetqatar.com
AL SALEH REAL ESTATETel: 44423838. Mob: 33721133 E-mail: [email protected]
HOME CARE
ARMSTRONGAblution & Event Toilets Rental, Porta Cabins, Chemical Toilets & Other Equipment Rental.Mobile : 557 80 396 (Steve) E-mail: [email protected]
EVENT RENTALS/ ABLUTIONTOILETS
MASSAGE
KOTTAKKAL AYURVEDIC MASSAGE CENTREAyurvedic Massage, Philippine & Thai Massage. Near Badriya Signal, Bin Mehmood. Tel.: 44360061 GSM: 33453697
MEDIHERB MASSAGEKerala Ayurvedic, Thai, Philippine Massage (Gents & Ladies) for back pain, body pain, arthritis etc shirodhara, steam, Moroccan Bathe, Body Scrub etc. E-Ring Road,
Near ICC Signal, Nuaija. Tel: 66167700 - 50736611
AUTHENTIC THAI MASSAGE CENTERSFB: Royal Thai Men Spa, New Slata (Men Only)www.thaimassagedoha.com, Tel: 44666145FB: Royal Thai Lady Spa, Al Waab (Ladies Only)www.royalthailadyspa.com, Tel: 44142400
WATER TANK CLEANING
AL MUTWASSIT CLEANING & PEST CONTROLKharaba st, Behind white Mosque. Fax: 443679 99 - GSM. 55875920/55860432
CAPITAL CLEANING COMPANYCleaning Water Tanks & Pest Control. GSM: 55565328/ 33189899 Tel: 44582257 E-mail: [email protected]
WOKEER INDUSTRIAL AREAAvailable Sizes: 358/415/510/830/1340 Sqm.Mobile: 660 02 704 (Steve)E-mail: [email protected]
WAREHOUSE FOR RENT
ARMSTRONGNew & Used Containers - Sales/Rental (Certified & Uncertified) Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.
USED CONTAINERS (Sales & Rentals)
06 SUNDAY 19 APRIL 2020CLASSIFIEDS
Coping with COVID-19
03SUNDAY 19 APRIL 2020 BUSINESS
Texas oil at $2 a barrel raises spectre of negative pricesBLOOMBERG
Crude prices in America’s oil capital are getting dangerously close to zero.
Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas producers may soon have to pay customers to take crude off their hands.
Negative prices have already hit more obscure corners of the American oil market amid a bearish trifecta of collapsing demand, swelling supplies and limited storage capacity. The first US grade to bid under zero was a small landlocked crude stream known as Wyoming Asphalt Sour, which went for negative 19 cents a barrel last month.
In Texas, prices are heading in that direction. A subsidiary of Plains All American Pipeline bid just $2 a barrel for South Texas Sour on Friday, while Enterprise Products Partners LP offered $4.12 for Upper Texas Gulf Coast crude this week, according to pricing bulletins.
Offers could fall further if benchmark West Texas Inter-mediate crude futures – which have lost three-quarters of their value this year – continue to tumble. WTI closed below $20 a barrel this week for the first time since 2002. That
bodes ill for producers locked into contracts with suppliers, as the daily price they earn for their crude moves with the broader market.
“I’ve never seen Texas crude oil transition to negative price” but it’s possible, said Andy Lipow (pictured below), president of Lipow Oil Asso-ciates LLC in Houston. “It’s happened in the natural gas market at the Waha hub in west Texas,” Lipow added.
Fast depleting storage is still a major issue against a backdrop of unprecedented demand destruction from the coronavirus pandemic, and these could pressure prices below zero fast, Lipow added.
There is still at least 150 million barrels of available capacity. “But it’s the fill rate that is likely alarming the market, said Reid I’Anson, a global energy economist at Kpler, an industry research firm. Stocks at the key storage hub at Cushing, Oklahoma, have risen 18 million barrels in three weeks, which is 20 percent of shell capacity, he added.
The good news is that neg-ative prices -- if they do occur -- will probably be “extremely temporary,” said John Auers, executive vice president at energy consultant Turner Mason & Co. Under those cir-cumstances, ultimately, supply will be forced to shut in, he added.
German Economy Minister Peter Altmaier sits next to a screen showing the President of the Federation of German Industries (BDI), Dieter Kempf, during a news conference on the economic situation amid the coronavirus disease outbreak, in Berlin, Germany.
Canada offers C$2.5bn in aid for hard-hit energy sectorREUTERS — OTTAWA
Canada will invest C$2.5bn ($1.8bn) in measures to help the hard-hit oil and gas industry during the coronavirus outbreak, which has killed 1,250 people in the country, Prime Minister Justin Trudeau said yesterday.
The sector, which accounts for 10.6 percent of Canada’s gross domestic product, has urged Ottawa to free up credit and cash to tackle the effects of the pandemic and rock-bottom oil prices.
Trudeau said energy sector workers have faced “layers of calamity” and Ottawa would invest C$1.7bn to clean up orphan and abandoned wells in three provinces.
“Our goal is to create imme-diate jobs in these provinces while helping companies avoid bankruptcy and supporting our environmental targets,” he told reporters, saying the measures would maintain 10,000 jobs.
Ottawa is also setting up a C$75m fund to provide repayable loans to companies so they can cut emissions of gases such as methane.
The government said later that Business Development Bank of Canada will offer energy companies commercial loans, worth C$15m to C$60m each, to supply cash flow for 12 months.
Alberta Premier Jason Kenney thanked Trudeau and said Ottawa was still looking at backstops to enable access to commercial borrowing rates for “sideswiped” industries of
energy, aviation and tourism. He estimated the need for liquidity at C$15bn to C$30bn.
Finance Minister Bill Morneau (pictured) told a sep-arate briefing that companies were not interested in Ottawa taking equity stakes. He said more needed to be done to ensure large businesses had access to credit, and promised details soon.
Finance Ministry officials told unions representing airline workers on Wednesday they are mulling whether to provide low-interest repayable loans to companies, according to two sources familiar with the matter.
Funding to clean up orphan wells - those without a legal owner - is welcome news for farmers who lease land to oil companies, said Todd Pland-owski, owner of a company that negotiates the agreements.
“They’re concerned about farming around these things,” he said. Trudeau also said Ottawa would give C$962m to regional development agencies to help small businesses and invest C$500 million to support
arts, culture and sports.Ottawa has unveiled
C$115bn ($82.08bn) in direct spending to help companies and individuals deal with shut-downs. Officials said Canada’s death toll had hit 1,250, up from 1,048 on Thursday.
Many of the country’s 30,670 confirmed coronavirus cases have been recorded in seniors residences. Trudeau said 125 troops with medical experience would help staff in long-term care homes in the province of Quebec.
British Columbia released its most recent forecast model, showing that the number of hospitalisations due to the coronavirus is leveling off.
The province may begin to reopen schools and workplaces in mid-May, Health Minister Adrian Dix said.
Shutdowns will extend to the July 1 Canada Day celebra-tions on Ottawa’s Parliament Hill, officials said.
The Transport Ministry said it would require air travelers to wear a mask or face covering at screening points starting on Monday.
Moody’s downgrades Pemex bonds to junk as losses mountBLOOMBERG
Moody’s Investors Service Inc. has downgraded Petroleos Mexicanos’s bonds to junk as sinking oil prices and a fast-s p r e a d i n g p a n d e m i c pummeled the beleaguered Mexican driller.
Moody’s cut Pemex’s bonds to the second-highest junk rating Ba2, from Baa3, because of its failure to deliver a viable strategy to stem long-term production declines and its excessive debt burden, it said.
“Pemex’s cash flow gener-ation and credit metrics will remain weak in the foreseeable future as the company grapples with low oil prices, high debt maturities, and underin-vestment in exploration and production in favor of an expansion of its refining business, which has generated losses for several years,” Moody’s said in the statement.
Pemex’s 6.5 percent notes maturing March 2027 traded around 77 cents on the dollar as of 2:53 pm in New York, according to Trace bond trading data.
Ratings agencies have been skeptical that Mexico’s leftist president Andres Manuel Lopez Obrador, known as
AMLO, has a credible plan to reverse Pemex’s 15 years of oil production declines and chip away at financial debt of 1.98 trillion pesos ($83.9bn) at the end of last year, the highest of any oil major. Pemex’s losses almost doubled in 2019, its first year under the Lopez Obrador administration.
Pemex is at the heart of AMLO’s strategy to upend three decades of neoliberal policies and make Mexico self-suffi-cient in energy. It is now saddled with a mandate to build a new $8bn refinery in Lopez Obrador’s home state, even as its six existing refin-eries are operating less that 30 percent of their capacity. Today, Pemex faces a fuel glut as demand wanes in Mexico because of the coronavirus containment measures.
AMLO has also canceled oil and gas auctions and joint-venture contracts with Pemex that enabled it to share the burden of developing Mex-ico’s vast deep-water oil ter-ritory, and boost depleted reserves.
Moody’s has been the outlier among the rating agencies, as both Fitch Ratings and S&P Global Ratings have already cut Pemex’s bonds this
year.Fitch plunged Pemex
deeper into junk for the second time this month, cutting to BB-. S&P Global Ratings took the company’s credit assessment to BBB, two notches above junk, in March.
Pemex expects to receive 7.5 billion pesos from its annual oil hedge, and the gov-ernment has promised to provide additional tax breaks of 65 billion pesos for the company this year.
But it is not nearly enough to move the needle, say ana-lysts. The crude oil price crash will hit Pemex especially hard since more than half of Pemex’s oil production is unprofitable at $30 a barrel, according to energy consul-tancy Welligence. If Mexican oil trades at $30 a barrel, Pemex will have a negative cash flow this year of $20 billion, reckoned Anne Milne, a strategist at Bank of America.
“The actions took in con-sideration our expectations for an extended period of negative free cash flow and the need for external funding, despite the company’s efforts to adjust costs and investments to low oil prices,” Moody’s said.
India toughens rules on investments
REUTERS — NEW DELHI
India has stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak.
India’s trade ministry said in a notification dated April 17 the changes to federal rules on investment were meant to curb “oppor-tunistic takeovers/acquisi-tions”. It did not mention China.
Investments from an entity in a country that shares a land border with India will require gov-ernment approval, it said, meaning they can not go through a so-called auto-matic route.
“These times should not be used by other countries to take over our com-panies,” a senior gov-ernment official told Reuters.
Similar restrictions are already in place for Bang-ladesh and Pakistan. But up to now, they have not applied to China and India’s other neighbours including Bhutan, Afghanistan, Myanmar and Nepal.
“This will certainly impact sentiment among Chinese investors. However, greenfield investments will not be impacted,” said Santosh Pai, a partner at Indian law firm Link Legal that advises several Chinese companies.
Australia has also said all foreign investment pro-posals will be assessed by a review board during the coronavirus crisis to prevent a fire sale of dis-tressed corporate assets. Germany has taken similar measures.
A February report by research group Gateway House said Chinese foreign direct investment into India stood at $6.2bn.
China’s Bytedance has plans to invest $1bn in Indian, while automakers including Great Wall Motor Co Ltd and MG Motor, a unit of China’s SAIC, have said they intend to invest millions.
Negative prices have already hit more obscure corners of the American oil market amid a bearish trifecta of collapsing demand, swelling supplies and limited storage capacity.
The sector, which accounts for 10.6 percent of Canada’s gross domestic product, has urged Ottawa to free up credit and cash to tackle the effects of the pandemic and rock-bottom oil prices.