1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 1.5% to close at 12,375.0. Gains were led by the Real
Estate and Insurance indices, gaining 6.0% and 3.2% respectively. Top gainers
were Dlala Brokerage & Inv. Holding Co. and Mazaya Qatar Real Estate Dev.,
rising 10.0% each. Among the top losers, Islamic Holding Group fell 1.8%,
while Qatari Investors Group declined 1.2%.
GCC Commentary
Saudi Arabia: The TASI index fell 0.2% to close at 9,543.1. Losses were led
by the Building & Con. and Multi-Invest., falling 1.5% and 1.4% respectively.
Ash-Sharqiyah Dev. Co. fell 7.5%, while Anaam Int. Holding was down 6.7%.
Dubai: The DFM index gained 0.9% to close at 4,786.3. The Services index
rose 2.9%, while the Financial & Invest. Services Index was up 2.3%. The
National Industries Group gained 5.7%, while Arabtec Holding was up 3.9%.
Abu Dhabi: The ADX benchmark index rose 1.2% to close at 5,068.3. The
Investment & Fin. Serv. index gained 5.4%, while the Real Estate Index was
up 2.8%. RAK Properties rose 7.0%, while Waha Capital Co. was up 5.4%.
Kuwait: The KSE index gained 0.4% to close at 7,571.6. The Basic Material
index rose 1.2%, while the Real Estate index was up 0.7%. Aqar Real Estate
Investments gained 7.1%, while Danah Al Safat Foodstuff Co. was up 6.5%.
Oman: The MSM index declined marginally to close at 6,806.6. All Indices
ended marginally in the green. National Gas Rights Issue fell 15.9%, while
Dhofar University was down 3.7%.
Bahrain: The BHB index rose 0.3% to close at 1,388.5. The Services and the
Commercial Banking Indices gained 0.5% each. Bahrain Islamic Bank rose
4.4%, while Bahrain Telecommunication Co. was up 1.2%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Dlala' Brokerage & Inv. Holding Co 28.05 10.0 1,828.9 26.9
Mazaya Qatar Real Estate Dev. 20.83 10.0 6,933.9 86.3
Ezdan Holding Group 22.94 10.0 903.6 34.9
Gulf Warehousing Co. 57.60 9.9 47.7 38.8
Widam Food Co. 61.70 8.2 2,056.8 19.3
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Mazaya Qatar Real Estate Dev. 20.83 10.0 6,933.9 86.3
United Development Co. 22.29 3.2 6,502.4 3.5
Barwa Real Estate Co. 37.70 1.2 6,126.1 26.5
Vodafone Qatar 13.93 2.7 3,467.8 30.1
Qatar Gas Transport Co. 21.11 0.5 2,428.3 4.2
Market Indicators 9 Apr 14 8 Apr 14 %Chg.
Value Traded (QR mn) 1,531.1 915.4 67.3
Exch. Market Cap. (QR mn) 700,710.6 686,813.7 2.0
Volume (mn) 43.2 23.5 83.7
Number of Transactions 14,716 11,886 23.8
Companies Traded 42 42 0.0
Market Breadth 36:4 18:20 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,453.84 1.8 3.5 24.4 N/A
All Share Index 3,179.33 1.7 3.4 22.9 15.5
Banks 3,015.73 1.7 2.5 23.4 15.2
Industrials 4,292.15 0.6 1.7 22.6 16.0
Transportation 2,201.73 2.2 5.4 18.5 14.5
Real Estate 2,484.66 6.0 7.8 27.2 15.9
Insurance 3,107.66 3.2 7.1 33.0 8.2
Telecoms 1,673.69 2.3 6.0 15.1 23.7
Consumer 7,451.14 0.6 5.5 25.3 30.3
Al Rayan Islamic Index 3,949.44 2.5 6.6 30.1 18.2
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Ezdan Holding Group Qatar 22.94 10.0 903.6 34.9
Gulf Warehousing Co. Qatar 57.60 9.9 47.7 38.8
Tihama Saudi Arabia 244.00 9.9 426.7 122.3
Comm. Bank Of Kuwait Kuwait 0.84 6.3 0.0 13.5
Mannai Corporation Qatar 103.30 5.9 3.4 14.9
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Nat. Marine Dredging Abu Dhabi 7.80 (4.9) 113.9 (9.3)
Saudi Fisheries Saudi Arabia 40.10 (4.1) 17007.2 29.8
Saudi Kayan Saudi Arabia 16.00 (2.7) 25050.4 1.9
Ahli United Bank Kuwait 0.74 (2.6) 286.0 13.1
Saudi Ceramic Saudi Arabia 137.00 (2.5) 134.8 22.9
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%
Islamic Holding Group 65.50 (1.8) 589.5 42.4
Qatari Investors Group 59.70 (1.2) 749.7 36.6
National Leasing 30.45 (0.5) 900.7 1.0
Qatar Fuel Co. 258.10 (0.1) 106.1 18.1
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Barwa Real Estate Co. 37.70 1.2 225,729.9 26.5
United Development Co. 22.29 3.2 143,518.4 3.5
Mazaya Qatar Real Estate Dev. 20.83 10.0 139,016.8 86.3
Widam Food Co. 61.70 8.2 124,103.3 19.3
Medicare Group 79.00 1.5 82,090.5 50.5
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* 12,375.03 1.5 3.3 6.3 19.2 420.52 192,415.1 15.7 2.0 4.0
Dubai 4,786.32 0.9 3.6 7.5 42.0 531.06 94,970.9 20.6 1.8 2.1
Abu Dhabi 5,068.28 1.2 2.9 3.6 18.1 311.51 133,169.9 15.3 1.8 3.5
Saudi Arabia 9,543.11 (0.2) (0.2) 0.7 11.8 4,181.97 516,987.0 19.6 2.4 3.1
Kuwait 7,571.61 0.4 (0.0) (0.0) 0.3 112.51 117,782.6 17.3 1.2 3.9
Oman 6,806.55 (0.0) 0.5 (0.7) (0.4) 34.36 24,544.3#
11.3 1.6 3.9
Bahrain 1,388.46 0.3 1.5 2.3 11.2 1.10 52,843.5 9.8 0.9 4.9
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any;
#
Value as of April 8, 2014)
12,100
12,200
12,300
12,400
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 1.5% to close at 12,375.0. The Real Estate
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.
 Dlala Brokerage & Inv. Holding Co. and Mazaya Qatar Real
Estate Dev. were the top gainers, rising 10.0% each. Among the
top losers, Islamic Holding Group fell 1.8%, while Qatari
Investors Group declined 1.2%.
 Volume of shares traded on Wednesday rose by 83.7% to
43.2mn from 23.5mn on Tuesday. Further, as compared to the
30-day moving average of 18.2mn, volume for the day was
137.8% higher. Mazaya Qatar Real Estate Dev. and United
Development Co. were the most active stocks, contributing
16.1% and 15.1% 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)1Q2014
% Change
YoY
Operating Profit
(mn) 1Q2014
% Change
YoY
Net Profit (mn)
1Q2014
% Change
YoY
National Company for Glass
Industries (ZOUJAJ)
Saudi SR – – 7.7 48.1% 14.8 72.1%
Nakheel Dubai AED 1,370.00 NA – – 629.0 28.1%
Source: Company data, DFM, ADX, MSM
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
04/09 US MBA MBA Mortgage Applications 4-April -1.60% – -1.20%
04/09 US US Census Bureau Wholesale Inventories MoM February 0.50% 0.50% 0.80%
04/09 US US Census Bureau Wholesale Trade Sales MoM February 0.70% 1.00% -1.80%
04/09 Germany Destatis Trade Balance February 16.3B 17.5B 15.0B
04/09 Germany Deutsche Bundesbank Exports SA MoM February -1.30% -0.50% 2.20%
04/09 Germany Deutsche Bundesbank Imports SA MoM February 0.40% 0.10% 4.10%
04/09 UK BRC BRC Shop Price Index YoY March -1.70% -1.50% -1.40%
04/09 UK ONS Trade Balance February -£2058 -£2100 -£2203
04/09 Spain INE House transactions YoY February -27.60% – -23.20%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QNBK reports QR2.4bn net profit in 1Q2014 – QNB Group
(QNBK) reported a net profit of QR2.4bn in 1Q2014, up by
13.7% YoY. This was driven by operating income, including the
share of results from associates, which increased to QR3.7bn,
up by 26.2% YoY. Net interest income increased by 25.7% YoY
to reach QR3.0bn, with net fee and commission income and net
gain from foreign exchange reaching QR0.5bn and QR0.2bn.
Moreover, QNB Group maintained its cost-to-income ratio at
21.7%. Total assets increased by 20.6% YoY to reach
QR458bn, the highest ever achieved by the Group. This was
due to a strong growth rate of 22.5% (YoY) in loans and
advances which reached QR317bn. At the same time, QNB
Group increased customer funding by 23.4% to QR346bn. This
led to a loans to deposits ratio of 92%. The Group was able to
maintain the ratio of non-performing loans to gross loans at
1.6% while the coverage ratio reached 126%. The Group started
implementing updated QCB and Basel III requirements for the
calculation of the Capital Adequacy Ratio (CAR) from 1Q2014.
The ratio stood at 16.3% as at 31 March 2014, higher than the
regulatory minimum requirements of the QCB. The Group is
keen to maintain a strong capitalization in order to support future
strategic plans. (QNB Group Press Release)
 QIGD 1Q2014 net profit up by 10.4% YoY – Qatari Investors
Group (QIGD) reported a net profit of QR58.6mn in 1Q2014 vs.
QR53.1mn in 1Q2013. EPS amounted to QR0.47 as of March
31, 2014 versus QR0.43 during the same period last year. (QE)
 MPHC to disclose 1Q2014 results on April 22 – Mesaieed
Petrochemical Holding Company (MPHC) has announced that it
will disclose its 1Q2014 financial results on April 22, 2014. (QE)
 MCCS to disclose 1Q2014 financials on April 23 – Mannai
Corporation Company (MCCS) has announced its intent to
disclose its 1Q2014 financial results on April 23, 2014. (QE)
 IQCD to disclose 1Q2014 results on April 27 – Industries
Qatar (IQCD) has announced that it will disclose its 1Q2014
financial results on April 27, 2014. (QE)
 QNNS to disclose 1Q2014 results on April 28 – Milaha
(QNNS) has announced that it will disclose its 1Q2014 financial
results on April 28, 2014. (QE)
 NLCS to disclose 1Q2014 results on April 30 – Alijarah
Holding Company (NLCS) has announced that it will disclose its
1Q2014 financial results on April 30, 2014. (QE)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 71.83% 74.69% (43,656,480.37)
Non-Qatari 28.16% 25.31% 43,656,480.37

3. Page 3 of 5
 Qatar Cool buys Cool Tech, I2I to sustain market leadership
– Qatar District Cooling Company (Qatar Cool) has acquired
Cool Tech Qatar as well as Installation Integrity 2006 (I2I) as
part of its strategy to maintain leadership in providing district
cooling & related services in local and regional markets. Qatar
Cool acquired the remaining 49% stake from an Emirati
shareholder to make it a wholly-owned subsidiary. The company
currently provides district cooling services for several prominent
developments in Qatar, including The Pearl-Qatar and West Bay
residential and business district. I2I is a commissioning
specialist for plants, buildings, and installations, handling all
non-process mechanical, electrical and plumbing installations as
well as HVAC systems. (Gulf-Times.com)
 QA moves into Tokyo's Narita Airport T2 – Qatar Airways
(QA) has moved from Terminal 1 to Terminal 2 of Tokyo’s Narita
International Airport in order to join its fellow Oneworld alliance
partners. The move to Terminal 2, which is the airport’s most
modern terminal, will bring additional advantages to QA
including shared facilities with fellow Oneworld partners, such as
check-in and transfer desks, lounges and baggage services.
These factors make the travel experience for its customers
smoother and more efficient, while reducing costs. Further, QA
will add its third route to the Japanese market from June 18,
2014, when it will begin operating non-stop daily flights on a
Boeing 787 Dreamliner to Haneda International Airport, the
second major airport that serve the Greater Tokyo Area.
(Bloomberg)
 First Qatar invests in Hilton’s project on Pearl Qatar – The
First Qatar Real Estate Development Company (First Qatar) has
signed a management agreement for its property on the Pearl
Island with Hilton Worldwide. In the next few years, First Qatar
will be investing up to $390mn in the new hotel, which will be
located on the artificial island, The Pearl. (Bloomberg)
 Emir appoints CEO of Qatar Media Corp – HH the Emir
Sheikh Tamim bin Hamad al-Thani has appointed HE Sheikh
Abdurrahman bin Hamad bin Jassim bin Hamad al-Thani as the
Chief Executive Officer of Qatar Media Corporation. (Gulf-
Times.com)
International
 Fed member sees little need for rapid US rate hike – A
member of the US Federal Reserve’s Board of Governors,
Daniel Tarullo said the modest pace of the US economic growth
in recent years suggests that when the time comes to raise
interest rates, the Fed will be able to do so without fearing a
sudden surge in inflation. Many economists had expected the
US economy to roar back after the Great Recession, requiring a
rapid tightening of policy at some point. Since that scenario
never happened, Tarullo said the US is less likely to experience
a growth spurt in the next couple of years that would engender
concerns about rapid wage pressures and changes in inflation
expectations. Tarullo further said that the monetary policy could
lay the groundwork for improving the potential growth rate by
reducing labor market slack. (Reuters)
 German imports rise to highest level since reunification –
Germany’s imports climbed to their highest level since
reunification while exports fell in February, in a sign that
domestic demand in Europe's largest economy is gathering
pace. Figures from the Federal Statistics Office showed
seasonally-adjusted imports climbed by 0.4% to €77.6bn, their
highest level since Germany was reunified in January 1991. A
Reuters poll of economists had expected imports to increase by
a smaller 0.1%. However, German exports dropped by a larger-
than-expected 1.3% as compared to 0.5% forecast, with
economists attributing it to the turbulence in emerging markets
and the Crimean crisis. (Reuters)
 BoJ: Consumer spending will put upward pressure on
prices – The Bank of Japan’s (BOJ) board member Ryuzo
Miyao stated that gains in consumer spending in Japan are
being driven by an improvement in underlying demand, which
will place an upward pressure on prices. Miyao said Japanese
economy and consumer prices are moving broadly in line with
the central bank's forecasts. So the economy can continue to
grow above its potential despite the temporary shock from a
sales tax hike on April 1. Meanwhile, the BoJ voted unanimously
to maintain its pledge of increasing base money – its key policy
gauge – at an annual pace of 60tn to 70tn yen ($582-679bn).
The BoJ has stood pat since launching an intense burst of
stimulus in April 2013, when it pledged to accelerate inflation to
2% in roughly two years through aggressive asset purchases in
a country mired in deflation for 15 years. (Reuters)
Regional
 GIH: GCC corporate earnings rose by 12.4% YoY to $61.8bn
– According to a study by Global Investment House (GIH),
corporate earnings in GCC countries rose by 12.4% YoY to
$61.8bn in 2013. The UAE led overall earnings by posting a
21.3% YoY increase and contributing 4.4% to the incremental
rise in earnings in the region. Saudi Arabia came in second with
a 6.8% YoY followed by Qatar with a 9.7%. Qatar’s corporate
earnings rose by 9.7% YoY to reach $11.2bn during 2013 as
compared to $10.2bn during 2012. Consolidated earnings of
firms listed on the Bahrain Stock Exchange increased by 18.6%
YoY to reach $1.8bn in 2013 primarily driven by the banking
sector. Kuwaiti firms' consolidated earnings rose by 23.3% YoY
to reach $5.5bn in 2013, primarily led by the financial services
and real estate sectors. Corporate earnings in Oman rose
21.1% YoY to $2.1bn in 2013, mainly due to improvements in
the earnings of banks and investment firms. In Saudi Arabia,
TASI’s consolidated earnings rose 6.8% to $27.4bn in 2013
driven by a robust 31.8% growth in telecommunication and IT
companies. (GulfBase.com)
 Saudi telco regulator to re-tender piggyback mobile licence
– Saudi Arabia's telecom regulator will re-tender a licence for
piggyback services on mobile operator Zain Saudi's network,
nearly a year after naming Dubai-based retailer Axiom Telecom
as the provisional winner. The Communications and Information
Technology Commission's (CITC) decision, is a setback for Zain
Saudi, which is facing competition from other mobile virtual
network operators (MVNO) that will launch soon on rivals'
platforms but will not be in a position to collect revenue from its
own. (Reuters)
 RSH signs LoA for SR75mn housing construction – Red
Sea Housing Services Company (RSH) has signed a Letter of
Acceptance (LoA) with the Government of Papua New Guinea
to construct housing units in Port Moresby for SR75mn. The
agreement to construct houses for Bomana Police Housing
Estate is expected to be finalized during 2Q2014. (Tadawul)
 SABB’s profit reaches SR1.08bn in 1Q2014 – The Saudi
British Bank (SABB) has reported a net profit of SR1.08bn in
1Q2014 as compared to SR947.9mn in 1Q2013, reflecting an
increase of 14%. The bank’s operating income increased by
12.8% to SR1.62bn in 1Q2014 as compared to SR1.44bn in
1Q2013. Loans & advances stood at SR109.9bn, increasing by
8.6% over SR101.2bn in 1Q2013. Customer deposits grew by
12.2% to SR137bn from SR122bn. Total assets stood at
SR175bn as against SR159bn a year ago. The bank’s EPS
amounted to SR1.08 in 1Q2014 as compared to SR0.95 in
1Q2013. (Tadawul)

4. Page 4 of 5
 ANB reports SR713mn net profit in 1Q2014 – The Arab
National Bank’s (ANB) net profit increased by 5% to SR713mn
in 1Q2014 as compared to SR679mn in 1Q2013. The total
assets stood at SR151bn as against SR134bn a year ago.
Loans & advances grew to SR87bn as compared to SR86bn in
1Q2013, while customer deposits grew to SR118bn as
compared to SR109bn a year ago. EPS stood at SR0.71 at the
end of first quarter. (Tadawul)
 Alinma Bank’s profit reaches SR293mn in 1Q2014 – Alinma
Bank has reported a net profit of SR293mn in 1Q2014 as
compared to SR221mn in 1Q2013, reflecting an increase of
32.6%. The bank’s total assets at the end of the quarter ended
March 31, 2014 stood at SR65.4bn as compared to SR56.2bn a
year ago. Loans & advances grew to SR45.8bn from SR39.4bn,
while customer deposits grew to SR45.1bn from SR34.4bn. EPS
stood at SR0.2 at the end of 1Q2014. (Tadawul)
 KFH-Saudi to be financial advisor for Murabaha – Murabaha
Company has signed a deal with Saudi-Kuwaiti Finance House
(KFH-Saudi) to serve as its financial advisor in order to take
steps toward offering 30% of its shares in a public offering.
(Gulfbase.com)
 SEC succeeds in pricing, allocating of $2.5bn instruments –
The Saudi Electricity Company (SEC) has successfully
completed the pricing and allocation of instruments worth a total
value of $2.5bn. This issuance included two tranches of
certificates first instruments worth $1.5bn and a maturity of 10
years with a yield of 4% and the second valued $1bn and a
maturity of 30 years with a yield of 5.5 %. The yield for each
tranche shall be paid every six months. The instruments were
issued upon an arrangement by Deutsche Bank, HSBC and JP
Morgan. The final size of the subscription amounted to $12.5bn,
representing more than five times the required amount.
(GulfBase.com)
 Lama Group, Carfare merge to form AED365mn company –
UAE-based Lama Group and Carfare have merged to create a
travel & mobility company worth AED365mn. Both entities will
retain their brand names but will operate under BK Group
Holdings Company and offer travel & mobility solutions to
around 2.5mn customers of the group. As a result of this
merger, the group will have a fleet of 3,500 cars, 200
limousines, a large fleet of 4x4 vehicles, three campsites, two
cruises and two yachts. The company will have 650 employees
working across a network of 14 branches in the UAE and 9
branches abroad. BK Group Holdings Company will expand
both the companies’ operations into a new head office in Dubai
Investment Park spread over 40,000 square feet. (Bloomberg)
 du Telecom declares AED0.19 dividend per share for
2H2013 – Emirates Integrated Telecommunications Company’s
(du Telecom) AGM has approved the distribution of cash
dividend of AED0.19 per share for 2H2013. (DFM)
 Emirates NBD declares 25% dividend – Emirates NBD’s AGM
has approved the distribution of 25% cash dividend (25 fils per
share) for the year ended December 31, 2013. (DFM)
 NGI declares 20% dividend – The National General Insurance
Company’s (NGI) AGM has approved its board’s
recommendation for the distribution of 20% cash dividend to the
shareholders. (DFM)
 Dubai exports to Kingdom reach AED9bn in March –
According to the figures published by the Dubai Chamber,
exports from Dubai to Saudi Arabia crossed AED9bn in March
2014, representing 16% YoY growth and 33% MoM growth.
Dubai’s total exports touched AED25.5bn, higher by 7% than
AED23.9bn recorded in February with a YoY increase of 5%
compared to March 2013. The GCC was Dubai’s largest export
destination with total exports to the region reaching AED15.8bn,
with Saudi Arabia taking 57% of the total GCC exports. Kuwait
was second to Saudi Arabia, with exports to the country of
AED1.8bn representing a growth of 23% MoM and 10% YoY.
Meanwhile, exports to Qatar declined to AED1.8bn registering a
significant MoM drop of 37% from the previous month’s
AED2.9bn. YoY growth was also down at 6%, from AED1.9bn a
year ago. Exports to Oman and Bahrain posted significant MoM
growth of 33% and 32% and YoY growth of 11% and 64%
respectively. (GulfBase.com)
 GIH: Abu Dhabi’s corporate earnings up 14.5% to $9bn –
According to a study by Global Investment House, Abu Dhabi’s
corporate earnings increased by 14.5% YoY to reach $9bn in
2013. This rise was driven by 13.6% YoY growth in the banking
sector’s earnings to $5.5bn in 2013, accounting for more than
60% growth in consolidated earnings. The real estate sector
posted a growth of 53.1% YoY, accounting for 8.3% of the
consolidated 2013 earnings. The insurance sector also
contributed significantly during 2013, with its earnings growing
62.4% YoY. The consumer staples sector posted the largest
decline in earnings with 58.9% YoY. (GulfBase.com)
 Brazil's BRF raises stake in Federal Foods – Brazil-based
BRF has raised its stake in Abu Dhabi's Federal Foods with a
$27.8mn investment meant to expand its international reach. In
January 2013, BRF had purchased 49% stake in Federal Foods
for $37.1mn. BRF started building a processed food plant in Abu
Dhabi in 2012, which it hopes to launch in 1H2014. The plant is
meant to give the company an access to distant Asian markets
like Indonesia. (Reuters)
 Al-Ahleia Insurance declares KD6.2mn dividend – Al-Ahleia
Insurance Company’s AGM has approved the distribution of
KD6.2mn cash dividend (KD0.32 per share) to the shareholders.
(Bloomberg)
 Oman signs OMR77mn loan deal with Arab Fund – The
Oman Housing Bank (OHB) has signed an agreement with the
Arab Fund for Economic & Social Development (AFESD) to
avail a loan facility worth OMR55mn to partly meet the annual
loan programs provided by the housing bank. The loan with a
term of 23 years will be repaid in 37 bi-monthly installments after
a four-year grace period from the date of disbursing the first
portion of the loan. Another agreement was signed where the
Public Establishment for Industrial Estates will obtain
OMR21.9mn to finance costs of the infrastructure projects in
Sumail Industrial Zone. The loan, which has a term of 21 years,
aims at developing the industrial sector and providing small &
medium enterprises with their needs. (Bloomberg)
 ASBB boosts share capital – Al Salam Bank-Bahrain (ASBB)
has increased its authorized share capital to BHD250mn and its
issued & paid-up share capital to BHD214mn. The bank’s share
capital has been increased as part of its acquisition of BMI
Bank. (GulfBase.com)
 Batelco completes 46% acquisition in Quality Net – Batelco
Group announced that it has finalized the acquisition of Ali
Aighanim & Sons General Trading & Contracting Company’s
46% shareholding in Quality Net. This acquisition increases
Batelco Group's equity stake in Quality Net from 44% to 90%.
(Bahrain Bourse)

5. Contacts
Saugata Sarkar Keith Whitney Sahbi Kasraoui
Head of Research Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544
saugata.sarkar@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,
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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
160.0
170.0
180.0
190.0
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
(0.2%)
1.5%
0.4% 0.3%
(0.0%)
1.2%
0.9%
(0.8%)
0.0%
0.8%
1.6%
2.4%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,311.78 0.2 0.6 8.8 DJ Industrial 16,437.18 1.1 0.1 (0.8)
Silver/Ounce 19.88 (0.8) (0.4) 2.1 S&P 500 1,872.18 1.1 0.4 1.3
Crude Oil (Brent)/Barrel (FM
Future)
107.98 0.3 1.2 (2.5) NASDAQ 100 4,183.90 1.7 1.4 0.2
Natural Gas (Henry
Hub)/MMBtu
4.66 2.3 4.0 7.3 STOXX 600 335.16 0.4 (1.2) 2.1
LPG Propane (Arab Gulf)/Ton 110.75 1.4 2.5 (12.5) DAX 9,506.35 0.2 (2.0) (0.5)
LPG Butane (Arab Gulf)/Ton 122.25 (0.2) 0.4 (9.9) FTSE 100 6,635.61 0.7 (0.9) (1.7)
Euro 1.39 0.4 1.1 0.8 CAC 40 4,442.68 0.4 (0.9) 3.4
Yen 102.00 0.2 (1.2) (3.1) Nikkei 14,299.69 (2.1) (5.1) (12.2)
GBP 1.68 0.3 1.3 1.4 MSCI EM 1,014.83 0.3 1.3 1.2
CHF 1.14 0.4 1.4 1.5 SHANGHAI SE Composite 2,105.24 0.3 2.3 (0.5)
AUD 0.94 0.3 1.1 5.3 HANG SENG 22,843.17 1.1 1.5 (2.0)
USD Index 79.48 (0.3) (1.2) (0.7) BSE SENSEX 22,702.34 1.6 1.5 7.2
RUB 35.65 (0.1) 1.1 8.5 Bovespa 51,185.40 (0.9) 0.2 (0.6)
BRL 0.45 0.1 2.0 7.5 RTS 1,190.13 (0.5) (3.5) (17.5)
177.8
152.7
138.5