1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.4% to close at 9,705.0. Gains were led by the Telecoms
and Insurance indices, gaining 1.5% and 1.4% respectively. Top gainers were
Qatar General Ins. & Rein. Co. and Mannai Corp., rising 5.5% and 2.7%
respectively. Among the top losers, United Development Co. fell 6.3%, while
Dlala Brok. & Inv. Holding Co. declined 5.3%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.7% to close at 7,915.1. Gains were led
by the Agri. & Food Ind. and Hotel & Tour. Indices, rising 2.2% and 2.1%
respectively. Aljazira Takaful rose 9.9%, while Emaar Eco. City was up 9.4%.
Dubai: The DFM index gained 0.9% to close at 2,588.5. The Real Estate &
Construction index rose 1.4%, while the Inv. & Fin. Services index was up
1.2%. Air Arabia gained 3.7%, while Al Salam Bank - Bahrain was up 3.2%.
Abu Dhabi: The ADX benchmark index fell 0.9% to close at 3,847.4. The
Telecomm. index declined 2.1%, while the Energy index was down 1.3%.
Arkan Building Materials fell 5.0%, while Emirates Ins. Co. was down 3.2%.
Kuwait: The KSE index gained 0.1% to close at 8,070.2. The Consumer
Services index rose 0.5%, while the Real Estate index was up 0.3%. Manazel
Holding Co. gained 7.1%, while Osoul Investment Co. was up 5.8%.
Oman: The MSM index fell 0.4% to close at 6,643.3. Losses were led by the
Industrial and Banking & Investment indices, declining 0.5% each. Sohar
Power declined 2.7%, while Al Sharqia Investment Holding was down 2.1%.
Bahrain: The BHB index gained 0.2% to close at 1,194.9. The Commercial
Banking index rose 0.6%, while all other sub-indices remain unchanged except
Services index. Al Salam Bank gained 2.0%, while Ithmaar Bank was up 1.9%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Rein. Co. 55.80 5.5 14.5 21.3
Mannai Corp. 86.80 2.7 0.1 7.2
QNB Group 177.00 2.4 359.1 35.2
Ooredoo 139.80 1.7 169.8 34.4
Qatar Fuel Co. 268.00 1.6 53.0 21.8
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
United Development Co. 22.48 (6.3) 6,286.9 26.3
Barwa Real Estate Co. 26.25 (0.6) 969.1 (4.4)
Doha Bank 50.70 1.5 746.5 9.4
Gulf International Services 47.85 0.9 615.4 59.5
Masraf Al Rayan 28.10 (0.2) 538.4 13.4
Market Indicators 31 July 13 30 July 13 %Chg.
Value Traded (QR mn) 518.4 373.5 38.8
Exch. Market Cap. (QR mn) 533,702.7 530,472.6 0.6
Volume (mn) 13.1 7.5 73.8
Number of Transactions 5,551 3,371 64.7
Companies Traded 39 39 0.0
Market Breadth 17:17 13:22 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,866.20 0.4 0.1 22.6 N/A
All Share Index 2,451.97 0.6 0.2 21.7 12.8
Banks 2,371.34 1.2 2.1 21.7 12.5
Industrials 3,154.39 0.3 (2.0) 20.1 11.7
Transportation 1,699.81 0.0 (0.4) 26.8 11.7
Real Estate 1,818.69 (3.0) (4.0) 12.8 11.6
Insurance 2,310.93 1.4 3.7 17.7 9.6
Telecoms 1,444.56 1.5 1.1 35.6 14.6
Consumer 5,700.69 0.7 (0.4) 22.1 23.1
Al Rayan Islamic Index 2,805.72 (0.9) (2.1) 12.8 13.8
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Emaar Economic City Saudi Arabia 11.65 9.4 53,037.2 40.4
Abu Dhabi Nat. Ins. Co. Abu Dhabi 5.80 6.0 25.0 7.4
Qatar Gen. Ins. & Rein. Qatar 55.80 5.5 14.5 21.3
DAAR Saudi Arabia 10.85 5.3 49,652.7 31.5
SADAFCO Saudi Arabia 97.25 4.6 203.3 50.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
United Dev. Co. Qatar 22.48 (6.3) 6,286.9 26.3
United Electronics Co. Saudi Arabia 110.25 (3.7) 58.2 32.8
Mabanee Co. Kuwait 1.08 (3.6) 322.9 0.7
Comm. Facilities Co. Kuwait 0.30 (3.3) 0.1 (14.5)
Taiba Holding Co. Saudi Arabia 40.50 (3.1) 1,213.3 63.0
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%
United Development Co. 22.48 (6.3) 6,286.9 26.3
Dlala Brok. & Inv. Holding Co. 21.21 (5.3) 353.9 (31.8)
Qatar Meat & Livestock Co. 59.90 (4.0) 112.2 1.9
Al Ahli Bank 53.10 (2.4) 12.2 8.4
Al Khaleej Takaful Group 40.15 (2.1) 34.6 9.5
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
United Development Co. 22.48 (6.3) 141,147.7 26.3
QNB Group 177.00 2.4 62,468.8 35.2
Industries Qatar 158.90 0.4 62,073.3 12.7
Doha Bank 50.70 1.5 37,541.3 9.4
Gulf International Services 47.85 0.9 29,252.0 59.5
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* 9,704.98 0.4 0.1 4.6 16.1 169.81 146,554.8 12.0 1.7 4.8
Dubai 2,588.53 0.9 2.8 16.5 59.5 204.77 64,568.5 16.1 1.0 3.1
Abu Dhabi 3,847.43 (0.9) (1.6) 8.3 46.2 90.62 111,032.8 11.4 1.4 4.5
Saudi Arabia 7,915.11 0.7 1.9 5.6 16.4 1,632.42 416,967.3 16.5 2.1 3.7
Kuwait 8,070.17 0.1 (0.3) 3.8 36.0 83.86 110,790.8 21.7 1.3 3.5
Oman 6,643.34 (0.4) (0.9) 4.8 15.3 28.84 23,077.2 11.3 1.7 4.1
Bahrain 1,194.90 0.2 0.5 0.6 12.1 0.73 21,342.8 8.6 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)
9,550
9,600
9,650
9,700
9,750
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 5
Qatar Market Commentary
 The QE index rose 0.4% to close at 9,705.0. The Telecoms and
Insurance indices led the gains. The index rose on the back of
buying support from non-Qatari shareholders despite selling
pressure from Qatari shareholders.
 Qatar General Ins. & Rein. Co. and Mannai Corp. were the top
gainers, rising 5.5% and 2.7% respectively. Among the top
losers, United Development Co. fell 6.3%, while Dlala Brok. &
Inv. Holding Co. declined 5.3%.
 Volume of shares traded on Wednesday rose by 73.8% to
13.1mn from 7.5mn on Tuesday. Further, as compared to the 30-
day moving average of 5.5mn, volume for the day was 136.3%
higher. United Development Co. and Barwa Real Estate Co.
were the most active stocks, contributing 48.0% and 7.4% to the
total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Earnings and Global Economic Data
Earnings Releases
Company Market Currency
Revenue
(mn) 2Q2013
% Change
YoY
Operating Profit
(mn) 2Q2013
% Change
YoY
Net Profit (mn)
2Q2013
% Change
YoY
Emirates Refreshments Co.
(ERC)
Dubai AED 17.4 14.9% 0.5 -20.0% 0.3 -35.3%
Sharjah Cement & Industrial
Development Co. (SCIDC)
Abu Dhabi AED 154.7 -3.9% – – 9.0 -0.4%
Abu Dhabi National Energy
Co. (TAQA)
Abu Dhabi AED 5,863.0 -3.0% – – (172.0) N/A
National Corporation for
Tourism & Hotels (NCTH)
Abu Dhabi AED 173.8 32.7% – – 26.5 34.2%
Fujairah Building Industries
(FBI)
Abu Dhabi AED 67.2 6.4% – – 1.1 -22.8%
National Gas Co. (NGC)* Oman OMR 8.9 10.8% – – 0.5 -0.1%
Oman Investment & Finance
Co. (OIFC)
Oman OMR – – – – 1.7 208.2%
National Finance Co. (NFC)* Oman OMR – – – – 2.3 17.8%
Securities & Investment Co.
(SICO)
Bahrain BHD 0.3 24.1% – – 0.9 N/A
BMMI Group Bahrain BHD 25.6 10.1% 2.7 13.3% 2.7 9.9%
Bahrain Cinema Co.
(CINEMA)
Bahrain BHD – – 1.7 88.2% 2.3 179.3%
Source: Company data, DFM, ADX, MSM, Bahrain Bourse (*1H2013 Results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
07/31 US MBA MBA Mortgage Applications 26-July -3.70% – -1.20%
07/31 US ADP ADP Employment Change July 200K 180K 198K
07/31 US Bureau of Labor Stat. Employment Cost Index 2Q2013 0.50% 0.40% 0.50%
07/31 US Bureau of Eco. Analysis GDP Annualized QoQ 2Q2013 1.70% 1.00% 1.10%
07/31 US Bureau of Eco. Analysis Personal Consumption 2Q2013 1.80% 1.60% 2.30%
07/31 US Bureau of Eco. Analysis GDP Price Index 2Q2013 0.70% 1.00% 1.30%
07/31 EU Eurostat Unemployment Rate June 12.10% 12.20% 12.10%
07/31 EU Eurostat CPI Estimate YoY July 1.60% 1.60% 1.60%
07/31 EU Eurostat CPI Core YoY July 1.10% 1.20% 1.20%
07/31 France INSEE PPI MoM June -0.30% -0.20% -1.20%
07/31 France INSEE PPI YoY June 0.10% 0.10% -0.10%
07/31 France INSEE Consumer Spending MoM June -0.80% 0.00% 0.70%
07/31 France INSEE Consumer Spending YoY June -0.50% 0.10% 0.70%
07/31 Germany Destasis Retail Sales MoM June -1.50% 0.20% 0.70%
07/31 Germany Destasis Retail Sales YoY June -2.80% 0.50% 0.80%
07/31 Germany Bundesbank Unemployment Change (000's) July -7K 0K -13K
07/31 Germany Bundesbank Unemployment Rate July 6.80% 6.80% 6.80%
07/31 UK BRC BRC Shop Price Index YoY July -0.50% – -0.20%
07/31 Spain INE Retail Sales WDA YoY June -5.00% -4.70% -4.40%
07/31 Spain INE Retail Sales YoY June -7.00% – -4.50%
07/31 Italy ISTAT PPI MoM June 0.40% 0.00% -0.10%
Overall Activity Buy %* Sell %* Net (QR)
Qatari 59.13% 67.57% (43,778,732.93)
Non-Qatari 40.87% 32.42% 43,778,732.93

3. Page 3 of 5
07/31 Italy ISTAT PPI YoY June -0.70% -1.10% -1.10%
07/31 Japan Markit/Nomura Markit/JMMA Manufacturing PMI July 50.7 – 52.3
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QEWS 2Q2013 net profit expands by 117% QoQ – QEWS
reported a 2Q2013 bottom-line of QR436mn (+117% QoQ, 26%
YoY), 25% ahead of our estimate of QR347mn and 33% ahead
of a thin Bloomberg consensus of QR328mn (only one other
estimate at QR309mn). The company generated revenue of
QR784mn (+26% QoQ, +4% YoY), which was made of: (1)
QR441mn in electricity revenue (+45% QoQ, +4% YoY) vs. our
estimate of QR340mn; (2) QR293mn in water desalination sales
(+6% QoQ, +4% YoY) that came in line with our estimate; and
(3) QR50mn in lease income (+25% QoQ, -3% YoY) that was
slightly ahead of our modeled expectation. The uptick in power
sales caused quarterly EBITDA to improve to QR444mn (+58%
QoQ, +7% YoY). Share of profits from JVs (Q Power, Mesaieed
Power & RGPC) climbed to QR101mn (+64% QoQ, +10% YoY)
but was below our estimate of QR124mn. Finally, the company
reported a substantial uptick in realized gains in sales of AFS of
QR44mn, up 103% sequentially. The company suffered from
QR108mn in one-time charges in 1Q2013, mostly related to
plant maintenance/outages. While we were expecting some
lingering impact of major maintenance work at RLPC, this was
not the case. As a result, we are likely to increase our full-year
estimates upward in the near-term once we meet management.
Our price target of QR174.72 also remains subject to an upward
reversion but we maintain our Accumulate rating. We continue
to remain bullish longer term on QEWS. The company is Qatar’s
leading listed electricity/desalinated water producer and
possesses a low-risk business model (minimal demand/cost
risk), with secure and visible earnings and cash flows. (QNBFS
Research, QEWS)
 QOIS’ net profit declines 70.1% QoQ in 2Q2013 – Qatar
Oman Investment Company (QOIS) has reported a net profit of
QR3.0mn in 2Q2013, indicating a QoQ decline of 70.1% (-
14.4% YoY). However, net profit was up 2.9% YoY to
QR13.1mn in 1H2013. EPS stood at QR0.416 in 1H2013 as
compared to QR0.404 in 1H2012. Investment & interest income
fell by 65.8% QoQ (-11.2% YoY) to QR4.1mn in 2Q2013, while it
was up 5.1% YoY to QR16.0mn in 1H2013. (QE)
 MRDS net profit jumps in 2Q2013 – Mazaya Qatar Real
Estate Development (MRDS) has reported a net profit of
QR8.4mn in 2Q2013, indicating a QoQ increase of 324.4%. Net
profit jumped 53.5% YoY to QR10.3mn in 1H2013. EPS stood at
QR0.103 in 1H2013 as compared to QR0.067 in 1H2012.
MRDS’ rental income in 2Q2013 increased by 1.3% QoQ
(+195.2% YoY) to QR9.6mn, while it surged 193.2% YoY to
QR19.1mn in 1H2013. (QE)
 QMLS’ net profit falls 43.3% QoQ in 2Q2013 – Widam Food
Company (QMLS) has reported a net profit of QR11.7mn in
2Q2013, reflecting a QoQ decline of 43.3% (-45.0% YoY). Net
profit fell by 22.2% YoY to QR32.4mn in 1H2013. EPS stood at
QR1.80 in 1H2013 as compared to QR2.32 in 1H2012. Sales
declined 4.8% QoQ (+1.1% YoY) to QR74.6mn in 2Q2013. On
the other hand, sales including government subsidy dropped by
10.9% QoQ (-15.2% YoY). (QE)
 QNCD reports QR235.6mn net profit in 1H2013 – Qatar
National Cement Company (QNCD) has reported a net profit of
QR235.6mn in 1H2013 as compared to QR225.3mn in 1H2012.
EPS stood at QR4.80 as of June 30, 2013 versus QR4.59 as of
June 30, 2012. (QE)
 QGMD reports net profit of QR0.8mn in 2Q2013 – Qatari
German Company for Medical Devices (QGMD) has reported a
net profit of QR0.8mn in 2Q2013 as compared to a net loss of
QR2.9mn in 1Q2013. Net loss narrowed by 37.4% YoY to
QR2.1mn in 1H2013 from QR3.4mn in 1H2012. Loss per share
stood at QR0.19 in 1H2013 as compared to QR0.30 in 1H2012.
The company’s revenue increased by 81.6% QoQ (-19.2% YoY)
to QR3.3mn in 2Q2013, while it was down 10.9% YoY to
QR5.1mn in 1H2013. (QE)
 ORDS launches Business Fibre Broadband Service in Qatar
– Ooredoo (ORDS) has launched its new Business Fibre
Broadband Service to provide SMEs with the country’s fastest
and most reliable internet connection. ORDS said its existing
business customers would be able to enjoy ultrafast broadband
speeds that are up to 5 to 10 times faster than the existing
copper wire connection, at no extra charge. (Gulf-Times.com)
 Qatar Airways, Gulf Air plan Saudi domestic debut in 3
months – Saudi Arabia’s General Authority of Civil Aviation’s
President Prince Fahd Bin Abdullah said Qatar Airways and Gulf
Air are planning to launch their 20-plane Saudi fleet in the next
three months. In 2012, Qatar Airways and Gulf Air were
awarded licenses to operate domestic, international flights in
Saudi Arabia. (Bloomberg)
 First solar system installed in Msheireb Downtown Doha –
Msheireb Properties has announced the installation of the first
photovoltaic solar panels in the first phase of the QR20bn
Msheireb Downtown Doha project by Innovations Unlimited ME.
The roof-mounted photovoltaic modules will supply a portion of
the electricity needs for the buildings in the Phase 1 of the
project development. (AME Info)
International
 Fed stays on track with bond buying – The US Federal
Reserve said the US economy continues to recover but is still in
need of support, offering no indication about its plan to reduce
its bond-buying stimulus program at its next meeting in
September. The central bank said it would continue buying
$85bn in mortgage and Treasury securities every month in an
effort to strengthen an economy that it said was still challenged
by federal budget-tightening. (Reuters)
 IMF: Cyprus on track to meet bailout terms – International
lenders gave an upbeat assessment about the progress made
by Cyprus in meeting the conditions of a financial aid program,
but said it was tempered by an uncertain economic outlook. The
troika of lenders from the EU, the ECB and the IMF wrapped up
their first assessment visit to Cyprus since it agreed for a €10bn
bailout package in March 2013. (Reuters)
 China HSBC PMI falls to 11-month low in July – China's
factory activity shrank for a third straight month in July to its
lowest level in nearly a year as new orders fell, signaling the
persistent pressure on the economy has extended into the third
quarter. The HSBC Purchasing Managers' Index (PMI) fell to
47.7 in July from June's 48.2. It was the weakest reading since
August 2012, which matched a preliminary figure published last
week. (Reuters)
 OPEC’s July output falls as Libya production tumbles –
According to a Bloomberg survey, the crude oil output of the
Organization of Petroleum Exporting Countries (OPEC) dropped
for a second month in July, led by the biggest plunge in Libyan

4. Page 4 of 5
production since the 2011 civil war. The survey showed that
output in the OPEC slipped 245,000 barrels, or 0.8%, to an
average 30.662mn barrels a day in July from a revised
30.907mn bpd in June. June’s total was revised higher by
210,000 bpd because of changes in Nigerian and Kuwaiti
production estimates. The survey also showed that Libyan
output had tumbled 330,000 barrels to 800,000 bpd in July,
which was the fourth straight decline, reducing production to the
lowest level since December 2011. However, the Saudi Arabian
output had climbed 180,000 barrels to 9.65mn bpd in July, the
highest level since November. (Bloomberg)
 IATA: Air freight volumes show signs of improvement in
June – According to the data released by the International Air
Transport Association (IATA), there was a 1.2% YoY expansion
in global air freight demand in June 2013. From May to June,
global freight volumes increased by 0.8%. A quarter of that
improvement was from European airlines, which saw a 0.9%
improvement in demand as compared to May and 2.6% YoY. In
contrast, Asia-Pacific carriers and North American airlines
recorded YoY declines of 1.8% and 1.2% respectively.
Meanwhile, Middle Eastern airlines saw a continued robust
demand with freight volumes growing by 12.7% YoY, consistent
with the high growth seen in recent years. As the Middle East
region’s carriers take advantage of their geographical position,
there has been a substantial increase in their share of world air
freight. (AME Info)
Regional
 Saudi banks inject SR1.14bn to Kafala-supported SME
projects – Kafala Program Chairman Osama bin Abdulrahman
Al-Mubarak said the volume of financing provided by the
participating banks in the Kafala Program stood at SR1.14bn
during 1H2013, representing an increase of 29% YoY. He also
said the Kafala Program issued 1,198 guarantees worth
SR635.3mn for SMEs in 1H2013, indicating an increase of 43%
YoY. Kafala Program is a joint effort of the Ministry of Finance,
represented by the Saudi Industrial Development Fund and
various Saudi banks. The program aims to promote financing for
the SME sector in the Kingdom. (GulfBase.com)
 Sahara and Sipchem agree to discuss potential merger –
Sahara Petrochemical has entered into a non-binding
agreement with Sipchem for potential merger. This follows the
announcement made by Sahara on June 4, 2013, regarding the
initial understanding reached with Sipchem to jointly consider
the economic & technical feasibility of a merger between the two
companies. The time schedule for the merger feasibility study is
five months. (Bloomberg)
 Bahri scraps its Saudi Hofuf general cargo vessel – The
National Shipping Company of Saudi Arabia (Bahri) has sold its
general cargo vessel, “Saudi Hofuf” for a sum of SR28.3mn for
scrapping after completing its useful life. The sale generated a
net gain of SR17.6mn after deducting the vessel’s book value
and all expenses associated with the sale. The financial impact
of this transaction will be reflected in the 3Q2013 results.
(Tadawul)
 Robust growth in Dubai real estate investments in 1H2013 –
The Government of Dubai’s Land Department said foreign and
Arab investments in the Dubai real estate market recorded a
significant upswing in 1H2013. The value of transactions
reached AED53bn in 1H2013 on the back of mounting investor
confidence spurred by attractive market environment, sustained
economic stability and diversification. The department also said
that foreign investors accounted for more than 60% of the new
investments at AED32bn, registering a rise of 73% YoY in
1H2013. The department stated that it is studying 158 projects
that could be revived through its real estate initiatives.
(GulfBase.com, Bloomberg)
 Dubai records 5.5mn visitors in 1H2013 – According to the
data released by the Dubai’s Department of Tourism &
Commerce Marketing (DTCM), around 5.5mn tourists visited
Dubai in 1H2013, representing an 11.1% YoY increase. The
data showed that guest numbers across all hotel establishments
reached 5.6mn, indicating YoY increase of 11.1%. The data also
showed that Dubai’s top 10 tourism source markets remained
the same as those for 1H2012, with slight changes in their
positioning, and reflected the diversity of its visitors. Saudi
Arabia, India, UK, US, Russia, Germany, Kuwait, Oman, China
and Iran made up the top ten markets for January to June 2013.
(AME Info)
 DP World’s throughput declines in 1H2013 on Europe, Asia
– DP World Ltd said its throughput declined amid slower
container traffic in Europe and the Asia Pacific region in
1H2013. DP World said volumes fell 5.8% to 26.6mn twenty-foot
equivalent units (TEU) across its group of container terminals
because of challenging market conditions. Similarly, like-for-like
container volumes fell 2.1%, when adjusted for changes across
the company portfolio. DP World’s Group Chief Executive
Mohammed Sharaf said the company maintains its expectations
of like-for-like container throughput in line with 2012, with its
portfolio positioned toward the faster growing emerging markets.
(Bloomberg)
 Abraaj Group sells stake in Ghana-based HFC Bank –
Dubai-based private equity firm Abraaj Group has sold its stake
in HFC Bank in Ghana to an independent Caribbean bank,
Republic Bank Ltd. Abraaj had acquired an initial stake in 2010
and had further increased its stake in 2012. (Reuters)
 DMC signs long-term deal with Mubarak Marine – Dubai
Maritime City (DMC) has signed a long-term partnership
agreement with Mubarak Marine to develop an industrial
complex project worth AED130mn for providing shipbuilding,
repair and other maritime services. This complex will enable
Mubarak Marine to establish its headquarters as well as a major
marine workshop and maintenance facilities. (AME Info)
 OGC announces record delivery of natural gas – Oman Gas
Company (OGC) has announced achieving a new record in
natural gas delivery on June 17, 2013, with 50.3mn standard
cubic meters delivered in a single day compared with an
average of 49.9mn standard cubic meters daily rate delivered in
2012, an increase of 0.8%. (AME Info)
 Al Hassan wins $13mn Abu Dhabi order – Oman-based Al
Hassan Engineering Company’s Abu Dhabi joint venture has
been awarded a contract worth $13mn by Petrofac Emirates.
The contract covers onshore civil, structural, piping, M&E and
cathodic protection of pipelines at three islands of the Satah Al
Razboot Field Development Project being undertaken by
Petrofac in Abu Dhabi. The work is expected to be completed by
August 2014 and the company expects reasonable income from
this project. (MSM)
 GHG finalizes land purchase deal for 5-star hotel – Gulf
Hotels Group (GHG) has successfully closed a deal for the
purchase of a plot of land in the Business Bay area in Dubai.
The group intends to develop a deluxe 5-star hotel on the
purchased land. (Bahrain Bourse)

5. 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
right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the
views and opinions included in this report.
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Page 5 of 5
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
150.0
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QEIndex S&PPan Arab S&PGCC
0.7%
0.4%
0.1%
0.2%
(0.4%)
(0.9%)
0.9%
(1.2%)
(0.6%)
0.0%
0.6%
1.2%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,325.25 (0.1) (0.6) (20.9) DJ Industrial 15,499.54 (0.1) (0.4) 18.3
Silver/Ounce 19.85 0.6 (0.8) (34.6) S&P 500 1,685.73 (0.0) (0.3) 18.2
Crude Oil (Brent)/Barrel 109.36 0.0 0.0 (3.1) NASDAQ 100 3,626.37 0.3 0.4 20.1
Natural Gas (Henry
Hub)/MMBtu
3.45 (1.1) (4.2) 0.3 STOXX 600 299.58 0.1 0.2 7.1
LPG Propane (Arab Gulf)/Ton 810.00 0.0 0.0 (16.4) DAX 8,275.97 0.1 0.4 8.7
LPG Butane (Arab Gulf)/Ton 807.00 0.0 0.0 (16.7) FTSE 100 6,621.06 0.8 1.0 12.3
Euro 1.33 0.3 0.2 0.8 CAC 40 3,992.69 0.2 0.6 9.7
Yen 97.88 (0.2) (0.3) 12.8 Nikkei 13,668.32 (1.5) (3.3) 31.5
GBP 1.52 (0.2) (1.1) (6.4) MSCI EM 947.55 (0.6) (1.5) (10.2)
CHF 1.08 0.4 0.2 (1.2) SHANGHAI SE Composite 1,993.80 0.2 (0.8) (12.1)
AUD 0.90 (0.9) (3.0) (13.6) HANG SENG 21,883.66 (0.3) (0.4) (3.4)
USD Index 81.45 (0.5) (0.3) 2.1 BSE SENSEX 19,345.70 (0.0) (2.0) (0.4)
RUB 33.00 0.1 0.6 8.1 Bovespa 48,234.49 (0.7) (2.4) (20.9)
BRL 0.44 0.2 (0.9) (9.9) RTS 1,313.38 (1.0) (2.6) (14.0)
139.5
124.1
112.7