The QE index rose 0.4% to close at 9,952.9, led by gains in the Transportation and Industrials indices. United Development Co. and Qatar Cinema & Film Dist. Co. were the top gainers, rising 2.0% and 1.5% respectively, while Qatar General Ins. & Rein. Co. fell 2.7% to be a top loser. Trading volume rose 15.2% compared to the previous day and was 72.1% higher than the 30-day moving average, with United Development Co. and Qatari Investors Group being the most active stocks. Regional indices were mixed with Qatar, Kuwait and Oman indices rising while Dubai, Abu

1. QE Intra-Day Movement
Market Indicators
9,980
9,960
9,940
05 Nov 13
%Chg.
486.8
537,177.1
10.6
7,750
42
23:12
530.0
535,874.7
9.2
6,324
39
29:7
(8.2)
0.2
15.2
22.5
7.7
–
Market Indices
9,920
9,900
9:30
06 Nov 13
Value Traded (QR mn)
Exch. Market Cap. (QR mn)
Volume (mn)
Number of Transactions
Companies Traded
Market Breadth
10:00
10:30
11:00
11:30
12:00
12:30
13:00
Qatar Commentary
The QE index rose 0.4% to close at 9,952.9. Gains were led by the
Transportation and Industrials indices, gaining 0.8% and 0.7% respectively. Top
gainers were United Development Co. and Qatar Cinema & Film Dist. Co.,
rising 2.0% and 1.5% respectively. Among the top losers, Qatar General Ins. &
Rein. Co. fell 2.7%, while Mannai Corp. declined 2.1%.
Close
Total Return
All Share Index
Banks
Industrials
Transportation
Real Estate
Insurance
Telecoms
Consumer
Al Rayan Islamic Index
1D%
WTD%
YTD%
TTM P/E
14,220.37
2,490.81
2,360.99
3,276.55
1,863.60
1,842.38
2,322.95
1,421.10
5,902.84
2,842.58
0.4
0.3
0.2
0.7
0.8
0.5
(0.4)
(0.2)
(0.2)
0.4
1.2
1.0
1.0
1.8
1.8
1.1
(0.4)
(1.2)
0.2
1.0
25.7
23.6
21.1
24.7
39.0
14.3
18.3
33.4
26.4
14.2
N/A
12.6
12.7
11.9
12.6
12.6
9.5
19.6
22.4
14.8
GCC Commentary
GCC Top Gainers##
Exchange
Close#
1D%
Vol. ‘000
Saudi Arabia: The TASI index rose 0.2% to close at 8,188.5. Gains were led
by the Petrochemical Industries and Media & Publishing indices, rising 1.0%
and 0.6% respectively. Bupa Arabia gained 6.4%, while Advanced rose 3.8%.
NBQ
Abu Dhabi
3.30
10.0
3.1
78.4
Advanced Petrochem.
Saudi Arabia
41.50
3.8
1,501.6
58.4
Dubai: The DFM index declined marginally to close at 2,902.5. The
Telecommunication index fell 0.9%, while Transportation index was down
0.6%. Agility declined 9.8%, while Al Salam Group was down 6.2%.
ALAFCO
Kuwait
Hail Cement Co.
Saudi Arabia
Abu Dhabi: The ADX benchmark index fell 0.2% to close at 3,845.4. The Inv.
& Fin. Services index declined 1.2%, while the Industrial index was down
0.9%. Fujairah Building Industries and Gulf Cement Co. fell 10.0% each.
Agility
GCC Top Losers
Exchange
Kuwait: The KSE index gained 0.3% to close at 7,918.7. The Consumer
Goods index rose 1.2%, while the Real Estate index was up 0.8%. Pearl Of
Kuwait Real Estate Co. gained 8.9%, while Future Comm. Co. was up 7.8%.
Mabanee Co.
Kuwait
City Cement Co.
Saudi Arabia
Oman: The MSM index rose 0.2% to close at 6,733.5. Gains were led by the
Services & Insurance and Industrial indices, rising 0.6% and 0.1%
respectively. National Gas Co. gained 9.9%, while Dhofar Univ. was up 7.0%.
Bank of Sharjah
Abu Dhabi
Qatar Gen. Ins. & Rein.
Qatar
Ithmaar Bank
Bahrain
Bahrain: The BHB index declined 0.2% to close at 1,195.9. The Services
index fell 0.7%, while the Commercial Banking index was down 0.1%. Ithmaar
Bank declined 2.1%, while Bahrain Telecommunications Co. was down 1.2%.
United Development Co.
Qatar Cinema & Film Dist. Co.
Close*
1D%
Vol. ‘000
YTD%
22.59
Qatar Exchange Top Gainers
2.0
2,797.0
26.9
39.50
1.5
5.4
(30.6)
302.2
(19.7)
3.1
3,740.6
25.1
0.72
2.9
1,316.6
48.2
#
Close
1D% Vol. ‘000
YTD%
1.18
(4.8)
2,672.7
10.0
24.40
(3.2)
1,213.2
41.4
1.70
(2.9)
35.0
32.8
51.10
(2.7)
282.4
11.1
0.24
(2.1)
110.8
38.2
Close*
1D%
Vol. ‘000
YTD%
Qatar General Ins. & Rein. Co.
51.10
(2.7)
282.4
11.1
Mannai Corp.
85.20
(2.1)
0.1
5.2
Qatar Exchange Top Losers
19.50
1.2
684.8
27.8
Al Khaleej Takaful Group
1.2
508.4
16.0
Al Meera Consumer Goods Co.
Qatar Industrial Manufacturing Co.
50.50
1.0
18.1
(4.9)
Ezdan Holding Group
Qatar Exchange Top Vol. Trades
Industries Qatar
3.6
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
163.50
Qatar Gas Transport Co.
0.28
23.20
Kuwait
##
YTD%
39.20
(1.8)
117.5
6.9
135.30
(1.2)
154.6
10.5
17.00
(0.6)
29.5
(6.6)
Close*
1D%
Vol. ‘000
YTD%
Qatar Exchange Top Val. Trades
Close*
1D%
Val. ‘000
YTD%
United Development Co.
22.59
2.0
2,797.0
26.9
Industries Qatar
163.50
1.2
82,925.0
16.0
Qatari Investors Group
31.80
0.0
1,274.5
38.3
QNB Group
166.60
0.1
76,713.1
27.3
Masraf Al Rayan
29.90
0.3
885.9
20.6
United Development Co.
22.59
2.0
62,725.6
26.9
Qatar Gas Transport Co.
19.50
1.2
684.8
27.8
Qatari Investors Group
31.80
0.0
40,621.9
38.3
Barwa Real Estate Co.
26.85
(0.6)
512.9
(2.2)
Masraf Al Rayan
29.90
0.3
26,557.6
20.6
Source: Bloomberg (* in QR)
Source: Bloomberg (* in QR)
Regional Indices
Qatar*
Dubai
Abu Dhabi
Saudi Arabia
Kuwait
Oman
Bahrain
Close
1D%
WTD%
MTD%
YTD%
9,952.87
2,902.51
3,845.36
8,188.46
7,918.74
6,733.53
1,195.93
0.4
(0.0)
(0.2)
0.2
0.3
0.2
(0.2)
1.2
(0.7)
(0.0)
1.8
(0.3)
0.9
(0.5)
1.2
(0.7)
(0.0)
1.8
(0.3)
0.9
(0.5)
19.1
78.9
46.2
20.4
33.4
16.9
12.2
Exch. Val. Traded
($ mn)
140.63
142.98
105.51
1,106.32
132.90
38.42
0.69
Exchange Mkt.
Cap. ($ mn)
147,562.5
69,803.0
110,757.5
441,697.1
110,375.1
23,954.2
16,840.1
P/E**
P/B**
12.7
15.8
10.8
16.7
18.6
10.9
8.2
1.7
1.1
1.3
2.1
1.3
1.6
0.8
Dividend
Yield
4.6
3.1
4.7
3.6
3.5
3.8
4.0
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
Page 1 of 6

2. Qatar Market Commentary
 The QE index rose 0.4% to close at 9,952.9. The Transportation
and Industrials indices led the gains. The index rose on the back
of buying support from non-Qatari shareholders despite selling
pressure from Qatari shareholders.
Overall Activity
Sell %*
Net (QR)
Qatari
60.52%
77.23%
(81,373,879.47)
Non-Qatari
 United Development Co. and Qatar Cinema & Film Dist. Co.
were the top gainers, rising 2.0% and 1.5% respectively. Among
the top losers, Qatar General Ins. & Rein. Co. fell 2.7%, while
Mannai Corp. declined 2.1%.
Buy %*
39.49%
22.76%
81,373,879.47
Source: Qatar Exchange (* as a % of traded value)
 Volume of shares traded on Wednesday rose by 15.2% to
10.6mn from 9.2mn on Tuesday. Further, as compared to the 30day moving average of 6.2mn, volume for the day was 72.1%
higher. United Development Co. and Qatari Investors Group
were the most active stocks, contributing 26.4% and 12.0% to
the total volume respectively.
Ratings, Earnings and Global Economic Data
Ratings Updates
Company
Agency
Market
Dubai Holding
Commercial
Operations Group
(DHCOG)
Moody's
Dubai
Dubai
Dubai Holding
Commercial
Operations MTN
Limited
Moody's
Type*
Old Rating
New Rating
Rating Change
Outlook
Outlook Change
CFR/ PDR
B2/B2-PD
B1/B1-PD

Positive
–
Provisional rating/
multi-currency debt
instruments issued
under medium-term
note (MTN) program
(P)B2/B2
(P)B1/B1

Positive
–
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC –
Local Currency, CFR- Corporate Family Rating, PDR- Probability Of Default Rating)
Earnings Releases
Company
Revenue
(mn) 3Q2013
% Change
YoY
AED
12.6
29.1%
–
AED
826.8
9.1%
74.5
Market
Arabian Scandinavian
Insurance Co. (ASCANA)
Aramex
Drake & Scull International
(DSI)
Union Cement Co. (UCC)
Ras Al Khaimah National
Insurance Co. (RAKNIC)
National Takaful Co.
(Watania Takaful)
Abu Dhabi National Energy
Co. (ADNEC)
Al Wathba National
Insurance Co. (AWNIC)
Al Ahlia Insurance Co. (AAI)*
Currency
Dubai
Dubai
Operating Profit
(mn) 3Q2013
% Change
YoY
Net Profit (mn)
3Q2013
% Change
YoY
–
7.8
131.8%
14.3%
59.9
12.7%
Dubai
AED
995.0
59.8%
42.7
NA
23.8
505.7%
Abu Dhabi
AED
74.2
-41.9%
–
–
-1.9
NA
Abu Dhabi
AED
33.6
27.0%
–
–
6.0
111.5%
Abu Dhabi
AED
10.3
274.2%
–
–
0.0
0.0%
Abu Dhabi
AED
7,396
-11.2%
–
–
146.0
NA
Abu Dhabi
AED
61.6
10.1%
–
–
74.4
187.9%
Bahrain
BHD
3.6
5.6%
–
–
2.6
769.8%
Source: Company data, DFM, ADX, MSM (* Nine months ended on September 30, 2013)
Global Economic Data
Date
Market
Source
Indicator
Period
Actual
Consensus
Previous
11/06
US
MBA
MBA Mortgage Applications
1-November
11/06
US
Conference Board
Leading Index
September
-7.00%
–
6.40%
0.70%
0.60%
11/06
EU
Markit
PMI Services
0.70%
October
51.6
50.9
11/06
EU
Markit
52.2
PMI Composite
October
51.9
51.5
11/06
EU
52.2
Eurostat
Retail Sales MoM
September
-0.60%
-0.40%
0.50%
11/06
11/06
EU
Eurostat
Retail Sales YoY
September
0.30%
0.60%
-0.20%
France
Markit
PMI Services
October
50.9
50.2
51.0
11/06
Germany
Markit
PMI Services
October
52.9
52.3
53.7
11/06
Germany
Bundesbank
Factory Orders MoM
September
3.30%
0.50%
-0.30%
11/06
UK
Lloyds TSB
Halifax House Prices MoM
October
0.70%
0.90%
0.40%
11/06
UK
Lloyds TSB
Halifax House Price 3Mths/Year
October
6.90%
7.00%
6.20%
11/06
UK
ONS
Industrial Production MoM
September
0.90%
0.60%
-1.10%
11/06
UK
ONS
Industrial Production YoY
September
2.20%
1.80%
-1.50%
Page 2 of 6

3. 11/06
UK
ONS
Manufacturing Production MoM
September
1.20%
1.10%
-1.20%
11/06
UK
ONS
Manufacturing Production YoY
September
0.80%
0.80%
-0.20%
11/06
Italy
Markit
PMI Services
October
50.5
51.2
52.7
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QCB issues QR4bn T-bills – The Qatar Central Bank (QCB)
has issued three treasury bills worth QR4bn on November 5,
2013. Total bids stood at QR7.73bn for all three maturities. Yield
on 91-day T-bills stood at 1.28% rising from 0.97% for 93-days,
while yield for 182-day T-bills fell to 1.30% from 1.36% and for
273-day notes yield declined to 1.40% from 1.57%. (QCB)
 Centrica signs $7bn LNG deal with Qatar – UK-based
Centrica entered into a deal worth $7bn with Qatar to import
LNG over four & half years, as the UK’s domestic production
dwindles. Under this contract, Centrica will purchase 3mn tons
of LNG per year from Qatar, which is equivalent to
approximately 13% of Britain's annual residential gas demand.
This deal is an extension of a three-year LNG supply agreement
that was signed in 2011, which expires in June 2014. (Reuters)
 GDI, Oxy Qatar sign QR865mn rig deal for 5 years – Gulf
Drilling International (GDI) has signed a QR865mn five-year
contract with Occidental Petroleum of Qatar (Oxy Qatar) to bring
a newly acquired rig into service. This will mark the third rig that
GDI has under contract for Oxy Qatar, having already
successfully deployed the Al Rayyan and Al Wajba jack-up rigs
to support Oxy Qatar’s extensive development program. The
cumulative value of the three GDI rigs stands at QR1.3bn. (GulfTimes.com)
 7 new malls to be built for Al Meera – Al Meera Consumer
Goods Company has signed a blanket agreement with Al-Aliaa
Trading & Contracting Company (Al-Aliaa) and Al-Muftah
Trading & Contracting Company (Al-Muftah) to build seven new
malls. According to the agreement, Al-Muftah will build three
new stores for Al Meera at Rawdat Ekdeem, Al Azizia, and
Zakhira, while Al-Aliaa will handle the construction of the other
four malls at Al Wajba, Muaither, Al Wakrah, and Al Thumama.
(Gulf-Times.com)
 Ashghal to open Lejbailat intersection – The Public Works
Authority (Ashghal) announced that the conversion of the
Lejbailat roundabout into a signal-controlled intersection will be
completed and the intersection will be opened to traffic on
November 10. With this, Lejbailat has been added to the list of
roundabouts that have been converted into signalized
intersections. The conversion is part of Ashghal’s
comprehensive development plan for the Corniche Street and its
surrounding areas. (Gulf-Times.com)
 QP, Dubai Carbon Centre sign MoU – Qatar Petroleum (QP)
and the Dubai Carbon Centre of Excellence (DCCE) have
signed a MoU to enter into a strategic partnership for developing
mutually
beneficial
sustainable
development
projects.
(Peninsula Qatar)
 QNB Group receives two awards from Global Investor –
QNB Group has secured two prestigious recognitions at the
Global Investor/ISF Middle East Summit & Awards 2013
ceremony. QNB won the “Best Asset Manager Award”, while
QNB Financial Services, a group subsidiary specializing in
brokerage services, won the “Best Broker Award”. (QNB Group
Press Release)
International
 Global economic growth hits 32-month high in October –
According to a JPMorgan-Markit survey, the global economic
growth accelerated in October to a 32-month high, bolstered by
a steady improvement in new business. JPMorgan's Global AllIndustry Output Index, produced along with Markit, rose to 55.5
in October from 53.6 in September, which is the highest reading
since February 2011. David Hensley, a director at JPMorgan
said the global economy has begun the year’s final quarter on a
positive footing. He said the all-industry output accelerated
October, indicating that global GDP is on track to post a decent
outcome in 4Q2013. (Reuters)
 US Treasury to sell $10-15bn in floating notes – The US
Treasury Department will sell its first floating-rate notes worth
around $10-15bn on January 29, 2014, and said a period of
political wrangling over the budget has delayed its plans to
reduce coupon auctions. The floating-rate notes will have a twoyear maturity and will be the Treasury’s first new security in 17
years. The Treasury said note and bond sales will total $70bn
next week, less than the $72bn auctioned last quarter and the
lowest since February 2009. (Reuters)
 UK economy grew 0.7% in three months until October –
According to the National Institute of Economic & Social
Research (NIESR), Britain's economy grew at an estimated
0.7% during the three months until the end of October 2013,
driven largely by private sector services companies. This GDP
growth represents a slight slowdown from the 0.8% growth
recorded in the three months until September, and is markedly
lower than the 1.3% growth implied by recent purchasing
managers' surveys. NIESR's forecast has put 2013 GDP growth
at 1.4% and 2014 growth at 2.0%, which are slightly less than
those expected by economists polled by Reuters last month.
(Reuters)
Regional
 IATA: Mid-east airlines set to earn $2.1bn profit in 2014 –
The International Air Transport Association’s (IATA) Director
General Tony Tyler said Middle East airlines are expected to
earn a profit of $2.1bn in 2014. He said the global airline
industry is expected to deliver a total profit of around $16.4bn
next year. He said the passenger traffic share of Middle East
airlines has grown from 7% of the global total to 8.4% over the
past 28 months, and cargo services have grown from 9.7% to
12%. (Gulf-Times.com)
 QFC: Asian reinsurance market confident despite waning
outlook – According to the Qatar Financial Center (QFC), Asia’s
reinsurance markets are still bustling with confidence, although
the outlook on pricing and profitability for the next 12 months is
slightly waning. QFC said Asia’s strong economic growth is
regarded as the market’s key attraction with reinsurance
exposure and premium growth expected to outpace the regional
GDP growth. (Gulf-Times.com)
 RSH signs SR91mn oilfield drilling camp deal with Nabors –
The Red Sea Housing Services Company (RSH) has received
purchase orders worth SR91mn from Nabors Drilling
International for the manufacture, delivery and installation of
nine new oilfield drilling camps in the Eastern province of Saudi
Arabia. This agreement also consists of refurbishment and
Page 3 of 6

4. associated works for two additional camps, which brings the
total number of camps to 11 camps. These camps will be
delivered over seven months and the financial impact of this
project will be reflected from 4Q2013 onward. These projects
will be financed through RSH’s existing cash flows. (Tadawul)
 HMC, AGH appoint banks to assist with IPO – Saudi-based
Dr. Sulaiman Al Habib Medical Center (HMC) has appointed
Banque Saudi Fransi to assist with its upcoming IPO.
Meanwhile, Almana General Hospitals (AGH) has appointed
GIB Capital to help with the IPO process. (Reuters)
 SABIC appoints banks for euro-denominated bond issue –
Saudi Basic Industries Corporation (SABIC) has appointed
Credit Agricole, ING, JP Morgan Chase, Mitsubishi and
Standard Chartered to arrange roadshows of a possible eurodenominated bond issue. The bond to be sold through its
subsidiary SABIC Capital could follow a series of investor
meetings in London, Frankfurt, Amsterdam and Paris during
November 8 to 12, 2013. (Reuters)
 ADC reconciles with Emar Arabian Shield – Al Ahsa
Development Company (ADC) has signed a reconciliation
agreement with Emaar Arabian Shield. ADC had earlier filed a
lawsuit against Emaar Arabian Shield for the delay in
transferring the ownership of land plots located on Sheikh Jaber
Road, Riyadh. According to the latest agreement, Emaar
Arabian Shield has pledged to transfer the ownership within 30
days. (Tadawul)
 Ajman Bank reports AED13.7mn net profit in
Ajman Bank has reported a net profit of AED13.7mn
The bank’s assets stood at AED6.7bn at the end of
30, 2013. Customer deposits rose 14% YTD to
(Bloomberg)
3Q2013 –
in 3Q2013.
September
AED4.9bn.
 Dubai's GDP accelerates to 4.9% in 1H2013 – According to
the latest government data, Dubai's GDP has accelerated to
4.9% YoY in 1H2013, due to strong expansion in trade and
tourism. The Emirate’s real estate market rose 79% YTD helped
by an influx of foreign money. The data showed that the hotel &
restaurants sector grew 13.7% in 1H2013. The number of hotel
guests rose 11.1% to 5.6mn, while the number of available
rooms stood at 58,950 in 1H2013. The wholesale & retail trade
sector, which accounts for nearly one-third of Dubai’s GDP, has
expanded 4.1% YoY, while the manufacturing sector increased
13.3% due to strong exports. The real estate & business
services sector (13% of GDP) grew 3.3% YoY, while the
financial sector rose 2.7%. (GulfBase.com)
 GEMS signs school lease deal with PineBridge Investments
– Dubai-based Global Education Management Systems (GEMS)
has entered into a sale-leaseback agreement with US-based
PineBridge Investments to lease a school campus for a term of
20 years. (Reuters)
 Air Arabia to fly to Hofuf from November 18 – Air Arabia will
begin flights to Hofuf from Sharjah starting from November 18,
2013. This is the airline’s 10th destination in Saudi Arabia and
87th global destination. (GulfBase.com)
 Flydubai obtains $228mn loan to finance 6 jets – Flydubai
has obtained $228mn loan from regional and international banks
to finance the purchase of six new Boeing jets. The loan is
structured as a finance lease with quarterly loan repayments
over 10-12 years. Five banks including NordLB, Crédit Agricole
and Gulf International Bank arranged the financing. (Reuters)
 Kauai to open first store in Dubai – South Africa-based Kauai
is set to open its first store in Dubai in December 2013. The
company is planning to open several more stores over the next
three years. (Bloomberg)
 ADIA reports 10.1% rise in passenger traffic in September –
According to a report released by Abu Dhabi Airports Company
(ADAC), over 1.3mn passengers have travelled through Abu
Dhabi International Airport (ADIA) in September 2013, indicating
10.1% rise YoY. The airport has also registered a 12.1% YoY
growth in passenger traffic during January-September 2013.
The report showed that the aircraft movement had reached
11,379 flights in September 2013, reflecting an increase of
13.1% YoY, while cargo traffic rose 27.6% to 61,913 tons. In
September, ADIA’s top five destinations for outbound
passengers were Bangkok, London, Doha, Manila, and Sydney.
(GulfBase.com)
 EMAL ahead of schedule to expand capacity to 1.3mn tpy –
Emirates Aluminium Company’s (EMAL) CEO Saeed al
Mazrooei said the company is three months ahead of schedule
to expand its production capacity to 1.3mn tons per year (tpy).
EMAL expects this expansion to be completed in mid-2014.
Emal's $4bn project to boost its capacity from about 800,000 tpy
was expected to be completed by 2014-end. (Reuters)
 Arabtec bags AED1.8bn contract to build tower in Dubai –
Arabtec Holding’s subsidiary, Arabtec Construction has won
AED1.8bn contract for the construction of a mixed-use 369.1
meters high tower in Dubai. The tall tower’s construction is
scheduled to begin in mid-November 2013 and will take 42
months to complete. (DFM)
 FGB completely acquires Dubai First – First Gulf Bank (FGB)
has successfully completed the acquisition of Dubai First.
(GulfBase.com)
 ALAFCO awaits approval from Kuwait’s CMA to list shares
in London – The Aviation Lease & Finance Company
(ALAFCO) is awaiting approval from Kuwait’s Capital Market
Authority (CMA) to list 30% of its shares as global depository
notes in London. The company has appointed Deutsche Bank to
manage this sale on the London Stock Exchange’s secondary
market and plans to be ready by 2Q2014. ALAFCO plans to use
this capital to grow its operations, increase aircraft fleet and
seek more deals. (Bloomberg)
 KKR, Kuwait Petroleum team up for RWE unit bid – US
private equity firm KKR has teamed up with the international arm
of Kuwait Petroleum Corp. to jointly bid for German utility RWE's
oil & gas unit, DEA. Kuwait Foreign Petroleum Exploration
Company (KUFPEC) is joining hands with KKR to bid for DEA,
which is potentially worth €5bn. (Reuters)
 Oman’s largest power project could cost $2.4bn – Oman
Power & Water Procurement Company’s (OPWP) Client and
Contracts & Interface Manager Hilal al Abdali said that the
country’s biggest independent power project could cost as much
as $2.4bn. With a power generation capacity of 3,000MW, this
plant will be able to serve much of northern Oman and is
proposed to be implemented by 2017-2018. (Bloomberg)
 UPC’s BoD resolves to reduce company’s initial capital by
5% – The United Power Company’s (UPC) Board of Directors
has resolved to reduce the company’s initial capital of
OMR34.9mn by 5%. After this reduction and the previous capital
reductions, the company’s current capital of OMR8.72mn will be
reduced to OMR7mn. This capital reduction will be applicable to
shareholders who are registered in the company’s shareholders
register at the end of trading day of December 1, 2013.
Meanwhile, the board has also appointed Guillaume Baudet as
the new Company Secretary. (MSM)
Page 4 of 6

5.  NGC’s BoD recommends rights issue; appoints OAB to
manage the issue – The National Gas Company’s (NGC) BoD
has recommended increasing the company’s issued and paid-up
share capital through a rights issue of 3:2, which will be 20mn
new shares for 377 baisas per share that aggregates to
OMR7.54mn. This will increase NGC’s issued and paid-up share
capital by OMR2mn. The BoD has also appointed Oman Arab
Bank (OAB) as the financial advisor and issue manager for this
rights issue. (MSM)
 ABC Islamic Bank reports $3.2mn net profit in 3Q2013 –
ABC Islamic Bank has reported a net profit of $3.2mn in
3Q2013, reflecting an increase of 15% QoQ (+13% YoY). The
bank’s total assets stood at $1.08bn at the end of September
30, 2013 as compared to $1.067bn at 2012-end.
(GulfBase.com)
 CBRE: Bahrain’s rental rates remain static in 3Q2013 –
According to a report by global property advisor CBRE, the
office and residential rental rates in Bahrain have remained
static in 3Q2013. The residential sales rates have continued to
climb in master-planned communities where units have been
completed. The report also showed that five new luxury hotels
are scheduled to open in Bahrain by 1Q2014, which will add to
the existing 14 hotels operating in the Kingdom. (Bloomberg)
Page 5 of 6

6. Rebased Performance
Daily Index Performance
150.0
0.8%
140.0
143.0
130.0
128.5
120.0
0.4%
0.4%
0.2%
0.3%
0.2%
117.2
110.0
0.0%
100.0
(0.0%)
S&P Pan Arab
S&P GCC
Source: Bloomberg
Asset/Currency Performance
1D%
WTD%
YTD%
Global Indices Performance
1,317.93
0.5
0.1
(21.3)
DJ Industrial
21.82
0.5
(0.3)
(28.1)
105.24
(0.1)
(0.6)
(5.3)
3.45
2.8
(0.1)
0.8
119.00
1.9
2.4
33.0
142.00
1.4
0.4
(17.9)
Euro
1.35
0.3
0.2
2.4
Yen
98.66
0.2
(0.0)
13.7
Nikkei
GBP
1.61
0.2
1.0
(1.1)
CHF
1.10
0.1
0.0
0.3
AUD
0.95
0.2
0.9
(8.3)
USD Index
80.48
(0.3)
(0.3)
RUB
32.41
(0.4)
0.0
BRL
0.44
(0.1)
(1.2)
(10.3)
Silver/Ounce
Crude Oil (Brent)/Barrel (FM
Future)
Natural Gas (Henry
Hub)/MMBtu
North American Spot LPG
Propane Price
North American Spot LPG
Normal Butane Price
Dubai
Source: Bloomberg
Close ($)
Gold/Ounce
Oman
Jul-13
Kuwait
May-12 Dec-12
(0.2%)
Abu Dhabi
QE Index
Oct-11
Qatar
Jan-10 Aug-10 Mar-11
Saudi Arabia
(0.4%)
80.0
Bahrain
(0.2%)
90.0
Close
1D%
WTD%
YTD%
15,746.88
0.8
0.8
20.2
S&P 500
1,770.49
0.4
0.5
24.1
NASDAQ 100
3,931.95
(0.2)
0.3
30.2
323.26
0.4
0.5
15.6
DAX
9,040.87
0.4
0.4
18.8
FTSE 100
6,741.69
(0.1)
0.1
14.3
STOXX 600
4,286.93
0.8
0.3
17.7
14,337.31
0.8
1.0
37.9
MSCI EM
1,016.19
(0.0)
(1.1)
(3.7)
SHANGHAI SE Composite
2,139.61
(0.8)
(0.5)
(5.7)
HANG SENG
23,036.94
(0.0)
(0.9)
1.7
0.9
BSE SENSEX
20,894.94
(0.4)
(1.4)
7.6
6.2
Bovespa
53,384.60
(0.8)
(1.2)
(12.4)
1,458.93
(0.1)
(1.1)
(4.5)
Source: Bloomberg
CAC 40
RTS
Source: Bloomberg
Contacts
Saugata Sarkar
Ahmed M. Shehada
Keith Whitney
Sahbi Kasraoui
Head of Research
Head of Trading
Head of Sales
Manager - HNWI
Tel: (+974) 4476 6534
Tel: (+974) 4476 6535
Tel: (+974) 4476 6533
Tel: (+974) 4476 6544
saugata.sarkar@qnbfs.com.qa
ahmed.shehada@qnbfs.com.qa
keith.whitney@qnbfs.com.qa
sahbi.alkasraoui@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
DISCLAIMER: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Exchange; QNB is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an
offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise potential
investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from sources that QNBFS believes to be
reliable, we have not independently verified such information and it may not be accurate or complete. While this publication has been prepared with the utmost degree of care by our analysts,
QNBFS does not make any representations or warranties as to the accuracy and completeness of the information it may contain, and declines any liability in that respect. QNBFS reserves the
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