1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.4% to close at 9,372.9. Gains were led by the Telecoms
and Industrials indices, gaining 1.0% and 0.5% respectively. Top gainers were
Qatar & Oman Investment Co. and Qatar Electricity & Water Co., rising 3.8%
and 1.7% respectively. Among the top losers, Qatari Investors Group fell 1.8%,
while Mazaya Qatar Real Estate Dev. declined 1.6%.
GCC Commentary
Saudi Arabia: The TASI index declined 0.1% to close at 7,635.8. Losses were
led by the Agriculture & Food Industries and Insurance indices, declining 1.7%
and 1.4% respectively. Saudi Indian Co. for Cooperative Insurance fell 7.9%,
while Arabian Shield Cooperative Insurance Co. was down 7.0%.
Dubai: The DFM index fell 2.3% to close at 2,344.8. The Transportation index
declined 5.2%, while the Investment & Financial Services index was down
4.3%. Aramex fell 6.8%, while Hits Telecom was down 5.2%.
Abu Dhabi: The ADX benchmark index declined 1.0% to close at 3,556.4. The
Real Estate index fell 2.9%, while the Industrial index was down 1.5%.
Commercial Bank International and Qatar Telecom declined 7.9% each.
Kuwait: The KSE index rose 0.3% to close at 7,927.9. Gains were led by the
Consumer Goods and Insurance indices, rising 2.5% and 2.0% respectively.
First Takaful Insurance Co. surged 15.8%, while Danah Alsafat Foodstuff Co.
was up 9.3%.
Oman: The MSM index gained 1.3% to close at 6,633.4. The Banking &
Investment index rose 1.1%, while the Services & Insurance index was up
0.9%. Bank Sohar gained 6.7%, while Al Batinah Dev. Inv. Holding was up
6.0%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar & Oman Investment Co. 13.60 3.8 4,249.9 9.8
Qatar Electricity & Water Co. 149.00 1.7 60.5 12.5
Qatar Navigation 76.50 1.2 169.5 21.2
Mannai Corp 88.00 1.1 12.0 8.6
Qatar Telecom 125.70 1.1 20.5 20.9
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatar & Oman Investment Co. 13.60 3.8 4,249.9 9.8
Barwa Real Estate Co. 28.00 (0.7) 3,777.3 2.0
Vodafone Qatar 9.31 0.1 1,379.1 11.5
National Leasing 39.30 (0.1) 1,341.2 (13.1)
United Development Co. 23.60 0.1 1,100.4 32.6
Market Indicators 10 June 13 09 June 13 %Chg.
Value Traded (QR mn) 488.6 825.0 (40.8)
Exch. Market Cap. (QR mn) 514,972.2 512,686.5 0.4
Volume (mn) 17.2 24.5 (30.0)
Number of Transactions 5,786 7,266 (20.4)
Companies Traded 39 40 (2.5)
Market Breadth 21:13 18:17 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,391.69 0.4 0.9 18.4 N/A
All Share Index 2,370.95 0.4 0.7 17.7 12.9
Banks 2,194.60 0.4 0.7 12.6 11.8
Industrials 3,174.32 0.5 0.7 20.8 11.8
Transportation 1,731.69 0.3 0.1 29.2 12.2
Real Estate 1,922.86 (0.4) 2.7 19.3 12.3
Insurance 2,324.37 (0.0) (0.0) 18.4 15.3
Telecoms 1,322.02 1.0 1.1 24.1 15.1
Consumer 5,581.76 (0.2) (0.4) 19.5 22.8
Al Rayan Islamic Index 2,865.08 (0.1) 1.0 15.1 14.3
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Makkah Con. & Dev. Saudi Arabia 69.75 9.8 2,248.2 71.8
Taiba Holding Co. Saudi Arabia 35.90 7.2 5,356.7 44.5
Bank Sohar Muscat 0.21 6.7 5,906.7 18.2
NBQ Abu Dhabi 3.45 6.2 1.0 86.5
Bank of Sharjah Abu Dhabi 1.75 6.1 945.0 36.7
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Hotels Abu Dhabi 2.57 (7.2) 239.4 45.2
Aramex Dubai 2.20 (6.8) 3,493.5 10.0
Union National Bank Abu Dhabi 4.55 (5.8) 780.9 57.4
Dubai Investments Dubai 1.49 (5.1) 65,381.2 74.9
Comm. Bank of Dubai Dubai 3.80 (5.0) 30.0 26.7
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)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Qatari Investors Group 27.10 (1.8) 446.3 17.8
Mazaya Qatar Real Estate Dev. 11.71 (1.6) 768.2 6.5
Qatar Islamic Insurance 60.40 (1.3) 41.8 (2.6)
Qatar Meat & Livestock Co. 63.50 (1.1) 150.7 8.0
Dlala Brok. & Inv. Holding Co. 26.70 (0.7) 117.0 (14.1)
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Barwa Real Estate Co. 28.00 (0.7) 106,231.9 2.0
Qatar & Oman Investment Co. 13.60 3.8 57,115.3 9.8
National Leasing 39.30 (0.1) 52,362.0 (13.1)
Industries Qatar 163.80 0.4 32,015.2 16.2
United Development Co. 23.60 0.1 25,923.8 32.6
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 9,372.87 0.4 0.9 1.5 12.1 134.18 141,411.4 11.9 1.7 4.9
Dubai 2,344.76 (2.3) (3.2) (0.9) 44.5 162.22 60,842.2 15.1 1.0 3.6
Abu Dhabi 3,556.40 (1.0) (1.2) (0.2) 35.2 72.64 103,669.2 10.9 1.3 4.9
Saudi Arabia 7,635.75 (0.1) 0.3 3.1 12.3 1,700.74 408,445.8 16.3 2.0 3.6
Kuwait 7,927.92 0.3 (1.2) (4.5) 33.6 203.15 109,134.0 24.3 1.4 3.4
Oman 6,633.41 1.3 2.1 3.4 15.1 30.33 23,135.9 11.3 1.8 4.2
Bahrain 1,196.01 0.1 (0.5) (0.0) 12.2 0.48 21,255.9 8.7 0.8 4.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,300
9,320
9,340
9,360
9,380
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 6
Qatar Market Commentary
 The QE index rose 0.4% to close at 9,372.9. The Telecoms 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.
 Qatar & Oman Investment Co. and Qatar Electricity & Water Co.
were the top gainers, rising 3.8% and 1.7% respectively. Among
the top losers, Qatari Investors Group fell 1.8%, while Mazaya
Qatar Real Estate Dev. declined 1.6%.
 Volume of shares traded on Monday declined by 30.0% to
17.2mn from 24.5mn on Sunday. However, as compared to the
30-day moving average of 11.2mn, volume for the day was
53.3% higher. Qatar & Oman Investment Co. and Barwa Real
Estate Co. were the most active stocks, contributing 24.8% and
22.0% to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Ratings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Gulf International
Bank (GIB)
CI
Saudi
Arabia
LT FCR/ST
FCR/Support level/FSR
A/A1/1/BBB+ A/A1/1/BBB+ – Stable –
Al Rajhi Bank Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor
A+/ F1/ a/ 1/
A+
A+/ F1/ a/ 1/
A+
– Stable –
National
Commercial Bank
Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor/ EMTN
Program
A+/ F1/ a/ 1/
A+/ (A+/F1)
A+/ F1/ a/ 1/
A+/ (A+/F1)
– Stable –
Riyad Bank Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor/ EMTN
Program
A+/ F1/ a/ 1/
A+/ (A+/F1)
A+/ F1/ a/ 1/
A+/ (A+/F1)
– Stable –
SAMBA Financial
Group
Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor/ EMTN
Program
A+/ F1/ a/ 1/
A+/ (A+/F1)
A+/ F1/ a/ 1/
A+/ (A+/F1)
– Stable –
Arab National Bank Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor
A/ F1/ a/ 1/ A- A/ F1/ a/ 1/ A- – Negative 
Banque Saudi
Fransi (BSF)
Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor/ EMTN
Program/ Senior
unsecured notes/ BSF
Sukuk Limited Trust
Certificate Issuance
Program/ Senior
unsecured trust
certificates
A/ F1/ a/ 1/ A-/
A/ (A / F1)/ A/
A
A/ F1/ a/ 1/ A-
/ A/ (A / F1)/
A/ A
– Negative 
Saudi British Bank
(SABB)
Fitch
Saudi
Arabia
LT IDR/ ST IDR/ LT
local currency IDR/ VR/
SR/ SR Floor/ EMTN
Program/ Senior
unsecured notes
A/ F1/ A/ a/ 1/
A-/ (A / F1)/ A
A/ F1/ a/ 1/ A-
/ A/ (A / F1)
– Negative 
Saudi Hollandi
Bank
Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor
A-/ F2/ bbb/ 1/
A-
A-/ F2/ bbb/
1/ A-
– Stable –
Saudi Investment
Bank
Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor
A-/ F2/ bbb-/ 1/
A-
A-/ F2/ bbb-/
1/ A-
– Stable –
Alinma Bank Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor
A-/ F2/ bbb-/ 1/
A-
A-/ F2/ bbb-/
1/ A-
– Stable –
Bank Aljazira Fitch
Saudi
Arabia
LT IDR/ ST IDR/ VR/
SR/ SR Floor/ Aljazira
Capital LT IDR/ Aljazira
Capital ST IDR/ Aljazira
Capital SR
A-/ F2/ bbb-/ 1/
A-/ A-/ F2/ 1
A-/ F2/ bbb-/
1/ A-/ A-/ F2/
1
– Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, ICR – Issuer Credit Rating)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
06/10 EU Sentix Sentix Investor Confidence June -11.60 -11.30 -15.60
06/10 France INSEE Industrial Production (MoM) April 2.20% 0.30% -0.60%
06/10 France INSEE Industrial Production (YoY) April -0.50% -4.00% -2.10%
06/10 France INSEE Manufacturing Production (MoM) April 2.60% 0.50% -0.70%
06/10 France INSEE Manufacturing Production (YoY) April -0.20% -3.50% -4.40%
06/10 Italy ISTAT Industrial Production sa (MoM) April -0.30% 0.00% -0.90%
06/10 Italy ISTAT Industrial Production wda(YoY) April -4.60% -3.60% -5.30%
Overall Activity Buy %* Sell %* Net (QR)
Qatari 71.07% 71.81% (3,602,432.52)
Non-Qatari 28.93% 28.19% 3,602,432.52

3. Page 3 of 6
06/10 Italy ISTAT GDP sa and wda (QoQ) 1Q2013 -0.60% -0.50% -0.90%
06/10 Italy ISTAT GDP sa and wda (YoY) 1Q2013 -2.40% -2.30% -2.80%
06/10 Japan
Economic & Social
Research Institute
GDP Annualized 1Q2013 4.10% 3.50% 1.20%
06/10 Japan
Economic & Social
Research Institute
Gross Domestic Product (QoQ) 1Q2013 1.00% 0.90% 0.30%
06/10 Japan
Economic & Social
Research Institute
Consumer Confidence May 45.70 44.70 44.50
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 MSCI to review Qatar Exchange status today – The index
compiler Morgan Stanley Capital International (MSCI) is set to
announce the results of its market classification review of the
Qatar Exchange today. (Peninsula Qatar)
 QNB Group: Qatar’s crude output dips 3.1% YoY in April –
According to a report by QNB Group, Qatar’s crude oil
production declined 3.1% YoY to 720,000bpd in April 2013. The
report stated that the country’s crude production was expected
to recover by the end of 2014 as redevelopment plans are
implemented. The QNB Group’s latest monthly monitor said the
average price fetched by Qatari crude was $103.1 in April, down
13.5% YoY. (Gulf-Times.com)
 SCH: New NHIC to manage scheme of NHIS which begins in
July – The Supreme Council of Health (SCH) has announced
the establishment of the National Health Insurance Company
(NHIC), which will manage the first stage implementation of the
National Health Insurance Scheme (NHIS). Implemented from
July 2013, the NHIS will provide coverage for all Qatari women
aged above 12 years for their maternity, obstetrics, and
gynecology-related healthcare issues. The SCH added that
around 90,000 Qatari women are expected to be covered during
the first stage of the mandatory scheme, which is being
launched in five stages until 2015 to cover the entire population
in the country, including single male laborers and domestic
workers. (Gulf-Times.com)
 QGMD wins QR8.5mn medical devices contract from SGH –
The Qatar German Company for Medical Devices (QGMD) has
obtained a QR8.5mn contract to supply medical devices for the
Saudi German Hospital (SGH) in Riyadh. (QE)
 TFI’s US realty project to get $390mn Shari’ah financing –
The First Investor (TFI), the investment banking arm of Barwa
Bank, and Hines have closed a loan syndicate to provide
construction financing for the landmark CityCenterDC (CCDC)
project under construction in downtown Washington DC. The JP
Morgan-led syndicate will provide $390mn in Shari’ah-compliant
real estate construction financing for the project. TFI was
instrumental in structuring the transaction together with the TFI
US Real Estate Fund’s CityCenterDC development partner,
Hines. (Gulf-Times.com)
 Siemens to supply wet air oxidation system to QAPCO –
Siemens has secured a contract to supply a wastewater
treatment system to Qatar Petrochemical Company (QAPCO).
(AME Info)
 QIBK awarded Islamic Bank of the Year-Qatar 2013 – The
Qatar Islamic Bank (QIBK) has been awarded the title of
“Islamic Bank of the Year–Qatar 2013” by The Banker
magazine. (QE)
International
 S&P revises US credit outlook to Stable from Negative –
Ratings agency S&P has removed the near-term threat of
another credit rating downgrade for the US by revising its
outlook to Stable from Negative, citing an improved economic
and fiscal outlook. The change effectively means there is less
chance of a downgrade in the next two years. S&P said a key
factor to its revision in the US rating outlook was the agreement
reached by the US Congress to avoid the fiscal cliff, which had
threatened to introduce automatic tax increases and spending
cuts worth $600bn. (Reuters)
 OECD: US, Japan leading recovery in major economies –
The Organization for Economic Cooperation & Development
(OECD) said major developed economies are gradually gaining
momentum led by faster growth in Japan and the US. The
OECD’s latest monthly leading indicator rose to 100.6 in April
2013 from 100.5 in March. The indicator for the US remained
unchanged at 101.0, while Japan’s reading improved to 101.1
from 100.9. The Eurozone’s reading rose to 100.1 from 100.0.
(Reuters)
 Draghi: ECB will not buy bonds to save collapsing states –
The European Central Bank (ECB) President Mario Draghi said
the bank would not use its yet-to-be-activated bond-buying
program to save profligate countries from insolvency, but only to
preserve the euro. The central bank's program has helped calm
the markets over the past few months, but it has raised a
concern in Germany, which is the most exposed as the ECB's
largest shareholder. The ECB said if there is a confidence crisis
in the euro, which is threatening the solvency of the countries
not beyond what their fundamentals are, then it is ready to
intervene. (Reuters)
 BoJ holds monetary policy steady – The Bank of Japan (BoJ)
has kept its monetary policy steady and revised up its
assessment of the Japanese economy. As expected, the central
bank voted unanimously to maintain its pledge of increasing
base money or deposits at the BoJ, at an annual pace of 60-
70tn yen. (Bloomberg)
 Fitch warns on risks from shadow banking in China –
According to rating agency Fitch, China's unregulated shadow
banking sector poses an increasing risk to the country's financial
stability that could spread contagion to other countries. Fitch
said China has many non-bank lenders outside the mainstream
regulated banking sector, who are providing increasing amounts
of credit to businesses and government, a situation that is
stoking systemic risk. Fitch said it is hard to get a handle on a
problem that hurts the effectiveness of the monetary policy, will
complicate the winding down of any institutions that fail and
could eventually put downward pressure on China's sovereign
rating as well. (Reuters)
Regional
 Saudi to sell more crude to India in July – Saudi Arabia is
selling more crude to India in July as two Indian refiners have

4. Page 4 of 6
asked for additional cargoes to make up for a loss of supplies
from Iran. (Gulf-Times.com)
 CSC pleads for establishing industrial authority – The
Council of Saudi Chambers (CSC) has urged for the
establishment of an industrial authority to ensure the smooth
implementation of the private sector’s industrial plans throughout
the Kingdom. (GulfBase.com)
 Three consortiums bid for Riyadh Metro – The High
Commission for Riyadh Development (HCRD) has announced
that three major global consortiums have submitted their
technical and financial offers for the Riyadh Metro. The metro
system for Riyadh city will have 96 air-conditioned stations in
total, which includes the main stations, four transfer stations,
and five park-and-ride stations. (GulfBase.com)
 Saudi Binladin completes new SR1.3bn sukuk – Saudi
Binladin Group has successfully completed its sukuk issue worth
SR1.3bn. (AME Info)
 Tabuk Cement to establish second clinker line and power
plant – Tabuk Cement Company is planning to establish a
second clinker line along with a new power plant. Tabuk has
awarded the $141mn contract to CDI, a Chinese company for
designing and installing the new 5,000 tons per day clinker line.
Meanwhile, leading engineering company Caterpillar is providing
the 30 MW power plant, while Veolia won the $9.5mn contract to
provide a new water treatment plant capable of processing
1500mn cubic feet per day. Tabuk said the project will be
financed through a combination of bank loans and the
company’s own resources. Tabuk expects the trial production to
begin by 3Q2015, while the full commercial production is
expected to start in 4Q2015. (Bloomberg)
 Al-Khodari Sons gets several contracts for city cleaning –
Abdullah A. M. Al-Khodari Sons Company has obtained a
SR156mn contract from the Ministry of Municipal & Rural Affairs
(Riyadh Municipality) for cleaning of Shumaisi for a period of five
years from the date of site hand over. Moreover, the Ministry
has also awarded another SR300mn contract to Al-Khodari
Sons for cleaning of Nassim and Suali for a period of five years
from the date of site hand over. (Tadawul)
 Saudi Methanol to take its plant off-stream for maintenance
– According to sources, the Saudi Methanol Company is likely to
take its Ar-Razi No.5 methanol plant off-stream for maintenance
works. The plant is likely to undergo maintenance in 4Q2013.
(Bloomberg)
 UAE banks ask central bank to permit loan transfers for
nationals – The UAE Banks Federation said commercial
bankers in the UAE have requested the Emirate’s central bank
to remove a ban on transfers of consumer personal loans
between banks. The federation also said that it has initiated
talks with the central bank in an effort to get the ban lifted.
(Reuters)
 Citigroup to exit UAE interbank rate setting panel – US-
based Citigroup Inc is set to leave the interbank interest rate
setting panel in the UAE from June 25, 2013. Citigroup will not
be replaced by another bank, so its exit will bring down the
panel – which sets the Emirates Interbank Offered Rate
(EIBOR) – to 11 members from the current 12. (Reuters)
 ICD signs upsized $2.6bn loan with local banks – Investment
Corp of Dubai (ICD) has signed an upsized $2.6bn, five-year
loan facility deal, in which 17 lenders participated. The new deal
was arranged by a group of eight local and international banks
who will refinance an existing $2bn facility that is due to mature
in August 2013. (Reuters)
 Dubai Group’s battered asset values are fifth of its debt –
The assets of Dubai Group – a investment unit of Dubai Holding
– are worth just a fifth of its $10bn worth debt. Creditors, who
sign up for a debt deal with Dubai Group, may face big losses
without a major improvement in values. (Gulf-Times.com)
 Emirates NBD concludes the acquisition of BNP Paribas’
shares – Emirates NBD has completed the acquisition of shares
of BNP Paribas in a $500mn deal, after fulfilling the required
approvals from the Central Bank of Egypt and the General
Authority for Investment. These majority shares represent 95.2%
of the total shares, while necessary approvals are currently in
process for the minorities shares representing 4.8% owned by
Bank Misr and Banque du Caire Employee Insurance Fund. By
this acquisition, Emirates NBD will take over BNP Paribas’ Egypt
operation and will serve a client base of over 200,000
customers, 3,000 corporate and 700 financial institutions
through a network of 68 branches. (Bloomberg)
 Tamweel’s BoD recommends conversion, delisting of
company – Tamweel’s board of directors has recommended its
shareholders to approve the conversion of the company into a
private joint stock company and delisting its shares from the
Dubai Financial Market. This move is subject to the relevant
regulatory approval. (DFM)
 Deyaar to launch two property projects, opens new branch
at Business Bay – Deyaar Development’s CEO Saeed Al
Qatami said the company is planning to launch two new projects
in 2013. One of Deyaar's new projects is a residential
development in the Business Bay area of Dubai worth about
AED500mn, while the second project is in the finalization stage.
Meanwhile, the company has opened a new full-fledged branch
at Business Bay. (DFM)
 Construction firms plan to bid for Abu Dhabi's AED7bn
metro – According to sources, construction companies are
gearing up to bid on the AED7bn Abu Dhabi metro and light-rail
scheme, as the Emirate’s Department of Transport initiates the
tendering process this week. (GulfBase.com)
 ABEA records 21% increase in traffic in Jan-Apr 2013 – Abu
Dhabi Airports Company announced that its business aviation
airport, the Al Bateen Executive Airport (ABEA) witnessed a
21% increase in visiting aircraft traffic during January-April 2013
period versus the same period in 2012. (AME Info)
 Al Noor Hospitals seeks $390mn in London IPO – Abu
Dhabi-based Al Noor Hospitals is planning to raise between
$320mn and $390mn by offloading up to 34% of the company's
stock through a flotation in London. Al Noor has set a price
range of £5.25-7.25 for the IPO. Al Noor’s free float will be
between 31% and 34% of the total offering, while $150mn will
be sourced from the issue of new shares. The remaining shares
will be sold by existing shareholders. (Reuters)
 KPI MD: Construction of Vietnam KPI refinery project to
start in July – Kuwait Petroleum International Company’s (KPI)
Managing Director Bakheet Al-Rashidi said the construction
work for a major joint refinery & petrochemical complex worth
$9bn in Vietnam will start in July 2013. He added that the
company expects the work to be completed by late 2016 with its
commercial production to commence in 2Q2017. (Bloomberg)
 Kuwait SWF led consortium’s bid for Severn Trent to be
dropped – Borealis Infrastructure Management Inc and its
partners in the LongRiver Group including Kuwait sovereign
wealth fund (SWF) will abandon a £5.3bn offer for Severn Trent
because the UK water utility declined to negotiate with the
group. (Bloomberg)

5. Page 5 of 6
 Oman crude exports rose 3.9% in May from April – Oman’s
Oil Ministry said the country’s exports increased in May by 3.9%
MoM to 26.8mn barrels, which averaged at 864,782 bpd. The
Ministry added that Oman’s output of crude and condensate
rose 0.97% MoM to 28.1mn barrels in May. China was the
biggest buyer of Omani crude for May, with 61% share and
Taiwan stood second with 15%. (Bloomberg)
 ONICH invests in Takaful Oman as a founding shareholder
– ONIC Holding (ONICH) is investing in the first takaful
insurance company in the country, Takaful Oman, as one of its
founding shareholders. Takaful Oman’s initial capital will be
OMR10mn and ONICH will hold a 7.5% stake. (MSM)
 CBB T-bills oversubscribed by 123% – The Central Bank of
Bahrain’s (CBB) this week’s issue of BHD35mn government
treasury bills has been oversubscribed by 123%. These bills
carry a maturity of 91 days and maturity date is September 11,
2013. The weighted average rate of interest is 0.7%, equivalent
to 0.7% for the previous issue. (AME Info)
 VCBank reported 15-month net profit of $20.2mn – Bahrain-
based Venture Capital Bank (VCBank) has reported a net profit
of $20.2mn from its total revenue of $39.6mn for the 15 months
ended March 31, 2013. This compares well with a loss of
$58.7mn and revenues of $6.7mn in 2011. As on March 31,
2013, total assets increased to $216.1mn compared to
$198.5mn at the end of 2011. (GulfBase.com)
 Bahrain chooses banks for potential dollar bond issue –
Bahrain has picked BNP Paribas, Citigroup, JP Morgan and GIB
Capital to arrange investor meetings in Los Angeles, Boston,
New York, London, Riyadh and Abu Dhabi commencing on June
12 2013. These meetings are arranged ahead of a the country’s
potential sovereign bond and Eurobond issue, whose proceeds
are likely to be used to plug an expected budget deficit for 2013.
(GulfBase.com)

6. Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@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
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
QEIndex S&P Pan Arab S&P GCC
(0.1%)
0.4% 0.3%
0.1%
1.3%
(1.0%)
(2.3%)
(3.2%)
(2.4%)
(1.6%)
(0.8%)
0.0%
0.8%
1.6%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,386.50 0.2 0.2 (17.2) DJ Industrial 15,238.59 (0.1) (0.1) 16.3
Silver 21.93 1.3 1.3 (27.7) S&P 500 1,642.81 (0.0) (0.0) 15.2
Crude Oil (Brent) 103.64 (0.8) (0.8) (8.2) NASDAQ 100 3,473.77 0.1 0.1 15.0
Euro 1.33 0.3 0.3 0.5 DAX 8,307.69 0.6 0.6 9.1
Yen 98.76 1.2 1.2 13.8 FTSE 100 6,400.45 (0.2) (0.2) 8.5
GBP 1.56 0.1 0.1 (4.2) CAC 40 3,864.36 (0.2) (0.2) 6.1
CHF 1.07 0.2 0.2 (2.0) Nikkei 13,514.20 4.9 4.9 30.0
AUD 0.95 (0.3) (0.3) (8.9) Shanghai 2,210.90 0.0 0.0 (2.6)
USD Index 81.65 (0.0) (0.0) 2.4 BSE Sensex 19,441.07 0.1 0.1 0.1
RUB 32.29 0.4 0.4 5.8 Bovespa 51,316.65 (0.6) (0.6) (15.8)
BRL 0.47 (0.6) (0.6) (4.5) RTS 1,300.54 (1.1) (1.1) (14.8)
134.7
120.4
109.5