The QSE Index fell 0.1% to close at 10,414.7

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index fell 0.1% to close at 10,414.7. Losses were led by the Insurance and Real
Estate indices, falling 1.4% and 1.2%, respectively. Top losers were Qatar General
Insurance & Reinsurance Co. and Al Khaleej Takaful Group, falling 7.6% and 3.5%,
respectively. Among the top gainers, Medicare Group rose 5.4%, while Islamic Holding
Group was up 3.9%.
GCC Commentary
Saudi Arabia: The TASI Index rose 1.4% to close at 6,482.4. Gains were led by the Real
Estate Development and Telecommunication & IT indices, rising 4.3% and 2.6%,
respectively. United Electronics Co. rose 9.6%, while Zain KSA was up 9.4%.
Dubai: The DFM Index gained 0.1% to close at 3,386.6. The Transportation index rose
1.7%, while the Telecommunication index gained 1.0%. Arabtec Holding rose 6.8%,
while Dar Al Takaful was up 5.8%.
Abu Dhabi: The ADX benchmark index fell 2.3% to close at 4,373.5. The Banks index
declined 3.6%, while the Consumer Staples index fell 3.2%. Abu Dhabi Ship Building
declined 9.8%, while First Gulf Bank was down 6.6%.
Kuwait: The KSE Index fell 0.1% to close at 5,259.1. The Telecommunication index
declined 1.9%, while the Oil & Gas index fell 1.4%. Real Estate Trade Centers Co.
declined 7.0%, while Injazzat Real Estate Development Co. fell 6.3%.
Oman: The MSM Index rose 0.4% to close at 5,349.1. Gains were led by the Financial
and Industrial indices, rising 0.8% and 0.3%, respectively. Al Madina Investment rose
5.1%, while Global Financial Investment was up 3.9%.
Bahrain: The BHB Index gained 0.6% to close at 1,169.2. The Commercial Bank and
Investment indices rose 0.7% each. GFH Financial Group gained 9.1%, while Nass
Corporation was up 3.2%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Medicare Group 118.00 5.4 373.9 (1.1)
Islamic Holding Group 84.70 3.9 824.5 10.6
Gulf Warehousing Co. 48.00 2.8 8.5 (13.0)
Qatar Industrial Manufact. Co. 39.00 2.2 3.0 5.2
Doha Bank 38.70 2.0 179.0 (6.3)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 36.40 1.3 2,597.1 1.6
Gulf International Services 38.20 (0.4) 1,174.5 (23.8)
Ezdan Holding Group 18.00 (1.6) 847.7 13.2
Islamic Holding Group 84.70 3.9 824.5 10.6
Vodafone Qatar 12.77 (1.0) 547.4 0.6
Market Indicators 20 Mar 16 17 Mar 16 %Chg.
Value Traded (QR mn) 414.9 678.0 (38.8)
Exch. Market Cap. (QR mn) 548,115.5 548,086.6 0.0
Volume (mn) 10.5 21.3 (50.7)
Number of Transactions 4,827 8,110 (40.5)
Companies Traded 41 41 0.0
Market Breadth 20:16 26:11 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,680.86 (0.1) (0.1) 2.9 12.9
All Share Index 2,839.87 (0.0) (0.0) 2.3 12.3
Banks 2,814.18 0.5 0.5 0.3 11.5
Industrials 3,089.46 0.1 0.1 (3.1) 13.4
Transportation 2,436.71 0.5 0.5 0.2 11.3
Real Estate 2,496.32 (1.2) (1.2) 7.0 12.1
Insurance 4,581.55 (1.4) (1.4) 13.6 11.5
Telecoms 1,122.41 (0.2) (0.2) 13.8 20.5
Consumer 6,350.49 1.0 1.0 5.8 13.0
Al Rayan Islamic Index 3,935.23 0.0 0.0 2.1 14.2
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
United Electronics Co. Saudi Arabia 29.99 9.6 2,206.8 (25.1)
Zain KSA Saudi Arabia 8.70 9.4 19,051.4 3.9
Abu Dhabi Nat. Energy Abu Dhabi 0.47 6.8 9,728.0 0.0
Arabtec Holding Co. Dubai 1.73 6.8 114,647.1 38.4
Jabal Omar Dev. Co. Saudi Arabia 63.19 6.6 1,152.6 13.9
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Qatar Gen. Ins. & Reins. Qatar 46.05 (7.6) 0.1 (0.9)
First Gulf Bank Abu Dhabi 11.95 (6.6) 614.4 (5.5)
Nat. Mobile Telecomm. Kuwait 1.20 (6.3) 52.2 9.1
IFA Hotels & Resorts Co. Kuwait 0.18 (5.2) 10.0 (10.8)
Southern Province Cem. Saudi Arabia 76.32 (4.5) 287.4 9.0
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)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Reins. Co. 46.05 (7.6) 0.1 (0.9)
Al Khaleej Takaful Group 26.05 (3.5) 49.5 (14.6)
Qatar German Co for Medical Dev. 13.49 (3.0) 370.6 (1.7)
Doha Insurance Co. 19.00 (2.6) 18.4 (4.6)
Ezdan Holding Group 18.00 (1.6) 847.7 13.2
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Masraf Al Rayan 36.40 1.3 94,138.5 1.6
Islamic Holding Group 84.70 3.9 69,203.3 10.6
Gulf International Services 38.20 (0.4) 45,460.4 (23.8)
Medicare Group 118.00 5.4 43,183.2 (1.1)
QNB Group 141.00 0.1 22,890.9 (1.2)
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* 10,414.65 (0.1) (0.1) 5.3 (0.1) 198.05 150,567.3 12.9 1.6 4.1
Dubai 3,386.62 0.1 0.1 4.5 7.5 120.51 89,167.0 11.9 1.2 3.6
Abu Dhabi 4,373.54 (2.3) (2.3) 0.5 1.5 83.94 122,600.2 11.5 1.4 5.6
Saudi Arabia 6,482.35 1.4 1.4 6.4 (6.2) 1,199.25 397,491.6 14.9 1.5 3.9
Kuwait 5,259.12 (0.1) (0.1) 1.0 (6.3) 48.25 83,042.9 15.2 1.0 4.8
Oman 5,349.12 0.4 0.4 (0.9) (1.1) 9.67 21,718.0 11.8 1.1 4.6
Bahrain 1,169.24 0.6 0.6 (0.8) (3.8) 1.70 18,397.7 8.9 0.6 5.7
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
10,400
10,410
10,420
10,430
10,440
10,450
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 QSE Index fell 0.1% to close at 10,414.7. The Insurance and Real Estate
indices led the losses. The index fell on the back of selling pressure from
Qatari and GCC shareholders despite buying support from non-Qatari
shareholders.
 Qatar General Insurance & Reinsurance Co. and Al Khaleej Takaful Group
were the top losers, falling 7.6% and 3.5%, respectively. Among the top
gainers, Medicare Group rose 5.4%, while Islamic Holding Group was up
3.9%.
 Volume of shares traded on Sunday fell by 50.7% to 10.5mn from 21.3mn
on Thursday. Further, as compared to the 30-day moving average of
11.6mn, volume for the day was 9.8% lower. Masraf Al Rayan and Gulf
International Services were the most active stocks, contributing 24.7% and
11.2% to the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Calendar
Earnings Calendar
Tickers Company Name Date of reporting 4Q2015 results No. of days remaining Status
QGMD Qatar German Company for Medical Devices 30-Mar-16 9 Due
ZHCD Zad Holding Company 30-Mar-16 9 Due
Source: QSE
News
Qatar
 GISS: Drilling unit to maintain operating activities – Gulf
International Services Company (GISS) has announced that a new
set of effective measures are being taken by its subsidiary Gulf
Drilling International (GDI) to maintain and boost its asset
utilization rates with the plunge in oil prices and falling global
demand for drilling services. In response to the reduced operating
rates, GDI developed a mechanism, wherein the operating rates
are indexed to crude oil prices enabling positive variation in the
rates when crude oil prices increase. In addition to implementing
several cost optimization initiatives to minimize the impact of the
market downturn, GDI is exploring potential new business
opportunities throughout the GCC region. Driven by low crude oil
prices and reduced demand for drilling rigs worldwide, five
offshore drilling rigs, one onshore rig, and one accommodation
jack-up have been released from their existing contract with
various clients. Meanwhile, GISS has announced a fire incident on
one of its subsidiary GDI Rigs. The incident took place while the rig
was being prepared for a move to another work location. The fire
was extinguished by GDI’s firefighting team and QP Emergency
Services. Injured personnel consisting of six GDI employees were
immediately transported to nearby hospitals and most of them
discharged after having received treatment. All other personnel
on location were evacuated safely to a secure location. The rig
named GDI-3 was moved to another location where it was
repaired and put into service again. (QSE, Peninsula Qatar,
Company Press Release)
 KCBK denies merger talks with ABQK and IBQ – Al Khalij
Commercial Bank (KCBK) denied speculations of merger with Ahli
Bank (ABQK) and International Bank of Qatar (IBQ). (QSE)
 Al-Subaie: Doha Metro trial and testing expected to start by 2017-
end – Qatar Rail Managing Director Abdulla Abdulaziz Al-Subaie
has said that the trial and testing operations of the Doha Metro are
expected to start towards the end of 2017. He said, “The coaches,
each nearly 20m long, are expected to arrive towards the end of
this year.” It has been announced earlier that the first phase of the
ambitious project, consisting of over 108 kilometers (km) of tracks
and 40 stations, would be operational towards 2019-end. Al-
Subaie was speaking at a ceremony to announce the completion of
the tunneling of the northern section of the 42km long Red Line, at
Doha Golf Club, in the presence of Qatar Rail CEO Saad Al-
Mohannadi. Briefing journalists about the ongoing works, the
officials said that electrical, mechanical and signaling works of the
tunnels were expected to start towards the end of 2016. This
would be followed by more developmental works, including the
test runs towards the last quarter of 2017. While expressing
confidence that tunneling of over 85km of the first phase of the
Doha Metro would be over latest by 2016-end, the Qatar Rail
officials said that over 95% of the tunneling of the 22km Green
Line between Mansoura and Al Riffa (via Mushereib and Mall of
Qatar in Rayyan) was now complete. Meanwhile, over 34,000
workers have been deployed across Doha and its immediate
suburbs as part of the ongoing first phase of the Doha Metro
project. As many as 44 nationalities are working on the project.
Works are progressing to build 37 stations for the Red, Green and
Gold lines. From the beginning of this month, approximately
112,580,321 man hours were spent on the project. As part of the
project, 963 tons of waste has been recycled. Over 63,000 tons of
steel has been used so far and 1.6mn cubic meters of excavation
carried out. It was also informed that 2.3mn km of truck runs were
completed until the beginning of March 2016. (Gulf-Times.com)
 Court judgment issued in favor of BRES subsidiary – Barwa Real
Estate Company (BRES) has announced the judgment of the Dubai
Court of Cassation regarding the commercial appeal case number
54/2014, filed by Dream Land Urban Construction and Investment
Limited, against Barwa International Company and Green City Real
Estate development company limited (a company incorporated in
Republic of Sudan, and fully owned by Barwa Real Estate Group).
The Court of appeal upheld a judgment issued by the Dubai Court
of First Instance to overturn the Arbitration Center ruling number
20 of 2009 which ordered Barwa International and Green City
Company Limited to pay jointly an amount of $ 31,003,668 in favor
of Dream Land Company. Dream Land Company has filed an
objection on the appeal judgment number 933/2012 commercial.
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 47.44% 45.16% 9,459,723.55
Qatari Institutions 17.43% 31.98% (60,376,157.81)
Qatari 64.87% 77.14% (50,916,434.26)
GCC Individuals 1.36% 1.12% 994,410.87
GCC Institutions 2.75% 3.81% (4,423,778.54)
GCC 4.11% 4.93% (3,429,367.67)
Non-Qatari Individuals 16.13% 15.77% 1,493,783.64
Non-Qatari Institutions 14.90% 2.16% 52,852,018.29
Non-Qatari 31.03% 17.93% 54,345,801.93

3. Page 3 of 6
This objection was registered under number 54/2014 commercial.
The Court of Cassation has ruled to reject this objection. (QSE)
 KCBK extends contract financing to joint venture for Al Wakrah
Stadium project – Al Khalij Commercial Bank (KCBK) successfully
closed a facility to finance a joint venture among Midmac
Contracting, Porr Qatar Construction, and Six Construct Qatar for
the Al Wakrah stadium, precinct main works, and the master plan
project. The bank confirmed that this was in line with its
continuous support to Qatar’s mega projects development. In
addition to KCBK’s financing package, the bank will also play the
role of “Project account bank” for the transaction. KCBK Group
CEO Fahad al-Khalifa said: “Our financing of a project of such
national importance, which will essentially place Qatar at the
global heart of sport, is a testament to our commitment and
support to major plans that aim to bring the economic and social
development of Qatar to the next level.” “Whether large-scale
projects that impact the nation as a whole, or smaller
developments that move the country towards a knowledge-based
economy in accordance with QNV2030, KCBK is ready, willing, and
has the capacity to provide the necessary financial support. We
will continue to broaden our future projects focusing on
infrastructure and logistic financing, leading up to the 2022 World
Cup.” (Gulf-Times.com)
 Doha Bank is optimistic on Qatar macro fundamentals – Doha Bank
(DHBK) Group Chief Executive R Seetharaman said that the bank,
which is slated to see a modest 5% credit expansion in 2016,
below the industry average of 8%, is optimistic on Qatar’s macro
fundamentals, as oil prices may touch $50 a barrel in six months
and then stabilize at $60 within a year. The bank’s credit
expansion will rather be driven by wholesale lending than the
retail, which is set to see rationalization due to low influx of
bankable population. He said, “If the economy is going to grow
between 3-4%, our growth could be maximum 6-7%, but I am
moderating it further to 5% as more credit rationing will take
place in the current phase.” He said the wholesale side will drive
the credit growth, indicating the possibility of more lending to
contract, trading and real estate segments, in line with the
expected fast growth in Qatar’s non-hydrocarbons sector.
Asserting that the country’s banking industry is expected to see
credit growth of 5-8%, Seetharaman however added that DHBK is
focused on asset optimization rather than maximization of balance
sheet. (Gulf-Times.com)
 ABQK launches Qatar’s first contactless credit card – Ahli bank
(ABQK) and MasterCard launched the “first contactless” credit
card in Qatar. As the first-of-its-kind contactless-enabled payment
product in Qatar, ABQK’s contactless Titanium MasterCard credit
card can be used for low value purchases of QR100 or less with
just a tap, eliminating the need to sign or enter a PIN code. As the
latest enhancement to the range of benefits that come with the
Ahlibank Titanium MasterCard credit card, the new feature will
provide customers with a faster and secure way to pay at point of
sale (POS) terminals at retailers displaying the contactless logo.
(Gulf-Times.com)
 ERES extends support to Civil Defense campaigns – Ezdan Holding
Group (ERES) donated QR1mn to the General Directorate of the
Civil Defense (GDCD) to support its awareness campaigns among
all the segments of society. ERES Chairman Sheikh Dr Khalid bin
Thani bin Abdulla al-Thani presented the check to GDCD Director
General Staff Brigadier General Abdulla Mohamed al-Suwaidi.
GDCD Assistant Director General Brigadier Aman Saad al-Sulaiti
and Prevention Department Director Major Hussein Aman al-Ali
were present at the ceremony held at the ERES headquarters at
Dafna area. (Gulf-Times.com)
International
 Euro lenders, Greece make progress on tax, pension reforms –
According to a European Commission spokesperson, the European
lenders have made important progress in talks with Greece on tax
and pension reforms that are part of a package of measures Athens
must adopt to win new loans and debt relief. Inspectors from the
European Commission, the European Central Bank, and the
International Monetary Fund (IMF) assessing Greece’s progress on
reforms left Athens on Sunday. Greek Prime Minister Alexis
Tsipras wants to wrap up the reform review quickly to clear the
way for talks on debt relief, help restore confidence in the
country’s economy, and persuade the Greek people that their
sacrifices over six years of austerity are paying off. However, the
talks have dragged on for months due to disagreements over fiscal
targets, pension cuts, and tax reforms between Athens and its
European Union, and IMF lenders and among the EU and the IMF
institutions themselves. The focus is on ways to cover an estimated
fiscal gap of 3% of GDP by 2018. (Reuters)
 CBI : Brexit could cost Britain £100bn and a million jobs –
According to research commissioned by employers’ group the
Confederation of British Industry (CBI), a British vote to leave the
European Union (EU) could cost the economy £100bn and 950,000
jobs by 2020. The CBI said, ‘Brexit’ would deliver a serious shock
to the British economy, regardless of any trade deals the country
could negotiate with its former European partners. The CBI, which
has said it will promote the economic case for Britain to remain in
the EU, has been criticized by anti-EU campaigners, who say the
business community is split on the issue. (Reuters)
 China’s central bank chief sounds warning over rising debt –
People’s Bank of China Governor Zhou Xiaochuan sounded a
warning over rising debt levels, saying corporate lending as a ratio
to gross domestic product (GDP) has gone too high and the
country must develop more robust capital markets. He said China
still has a problem with illegal fundraising and financial services
are insufficient. Zhou said the country still needs regulation to
guard against excessive leverage in foreign currencies.
(Bloomberg)
 Chinese officials: Economy improving, capital outflows cooling –
According to top Chinese officials, China’s economy is showing
signs of improvement, while capital outflows from the country are
moderating, seeking to shore up investor confidence after recent
market volatility. Chinese leaders have repeatedly tried to
reassure jittery financial markets and China’s major trading
partners that Beijing is able to manage the slowing economy,
following a slide in the country’s stock market and depreciation of
the yuan. (Reuters)
Regional
 Markaz Head of Research: GCC countries required to mobilize
$151.3bn in 2016 to meet financial obligations – Markaz Head of
Research M.R. Raghu said that GCC countries are required to
mobilize an estimated $151.3bn in 2016 to meet their financial
obligations. Around 52% of the GCC funding requirements for
2016 ($78.1bn) is expected to come from reserves, while $57.7bn
is expected from domestic and international bond issuances
(38%) and the rest through loans (10%). He said overall GCC
governments are expected to raise between $285-390bn
cumulatively through 2020 via local and international bonds.
(GulfBase.com)
 Saudi CMA approves public offering of Elite Flexi Saudi Equities
Fund – The Saudi Capital Market Authority’s (CMA) board of
commissioners has approved the public offer of Elite Flexi Saudi
Equities Fund by Saudi Economic and Development Securities
Company. (Tadawul)
 Maaal: KSA to issue bonds worth SR20bn – Maaal has reported that
the Saudi Arabian government has told local banks that it will sell

4. Page 4 of 6
them SR20bn of three, five and seven-year bonds, with floating as
well as fixed rates. The government has been selling SR20bn of
bonds every month since August 2015 to cover a budget deficit
created by low oil prices. Among the new fixed-rate bonds, the
three-year tranche will be priced at 55-60 basis points (bps) over
US Treasuries, the five-year tranche at 61-66 bps over and the
seven-year tranche at 72-77 bps over. The floating rate bonds
would be priced at the three-month Saudi interbank offered rate
minus 25-30 bps for the three-year tranche, minus 10-15 bps for
the five-year tranche, and flat to 5 bps over for the seven-year
tranche. (GulfBase.com)
 NMC expects acquisitions to drive 2016 earnings jump – NMC
Health expects earnings to increase by 45% in 2016 on the back of
recent and future acquisitions as well as organic growth. NMC
Deputy CEO Prasanth Manghat said that the company could also
tap loan and convertible bond markets to supplement around
$300mn it has for acquisitions. (Reuters)
 Arabtec Construction wins AED1.7bn contract – Arabtec
Construction, a subsidiary of Arabtec Holding, has been awarded
an AED1.7bn project to build 1,100 villas for UAE nationals in
Mohamed Bin Zayed City, Fujairah. This project comprises a total
built up area of 430,000 square meters on a plot area of 215
hectares. The construction work will commence shortly. (DFM)
 Dubai Refreshment AGM approves 70% cash dividend – Dubai
Refreshment’s annual general assembly meeting (AGM) has
approved the board of directors’ (BoD) proposal to distribute 70%
cash dividend from the capital, amounting to AED63mn. (DFM)
 RAK Properties shareholders approve 5% cash dividend – RAK
Properties’ annual general meeting (AGM) has approved the board
of directors’ (BoD) proposal to distribute 5% cash dividend from
the capital. (ADX)
 Gulf Medical Projects AGM approves 7.5% cash dividend – Gulf
Medical Projects Company’s annual general assembly meeting
(AGM) has approved the board of directors’ (BoD) proposal to
distribute 7.5% cash from the company’s capital for the year
ending December 31, 2015. (ADX)
 OMV, ADNOC, Occidental to explore offshore oil & gas fields in Abu
Dhabi – OMV has signed a four-year program with the Abu Dhabi
National Oil Company (ADNOC) and Occidental Petroleum to
evaluate offshore oil & gas fields northwest of Abu Dhabi. The
fields the companies will analyze through seismic, drilling and
engineering studies include the Ghasha and Hail areas with a view
to appraising and developing them. OMV is already working with
ADNOC on the appraisal of the Shuwaihat field. OMV is
increasingly looking toward Russia and the UAE for future output.
(Reuters)
 Waha Capital plans to invest $100mn in core business – Waha
Capital is planning to invest at least $100mn in its core business,
eyeing acquisition deals potentially in 2016 to capitalize on
attractive market valuations. Waha Capital CEO Salem Al Noaimi
said that the company is in talks with various potential partners
about acquisitions, but there were no concrete deals yet. The
company will carry out future acquisitions in sectors such as
energy, infrastructure, financial services, health care and
education. (GulfBase.com)
 ADIB fully committed to becoming largest retail bank by 2020 – Abu
Dhabi Islamic Bank (ADIB) Head of Retail Banking Philip King said
that the bank is fully committed to its strategy of becoming the
largest retail bank in assets by 2020, and investing in both physical
and digital infrastructure to enhance new customer acquisition.
(GulfBase.com)
 SCAD: Abu Dhabi inflation rate rises – The Statistics Centre in Abu
Dhabi (SCAD) has released the latest issue of its monthly report on
the consumer price index (CPI) and the inflation rate in Abu Dhabi
for February 2016, replacing with 2014 as the base year. This CPI
is used in measuring inflation and represents an important input
in economic and monetary planning. As the report, the inflation
rate in consumer prices for the first two months of 2016 was 3.3%
as compared with the same period of 2015, as shown by the
increase in the CPI to 105.6 points during January-February 2016,
up from 102.2 points for the same period of 2015. Housing, water,
electricity, gas and other fuels’ group accounted for the largest rise
in the index during the first two months of 2016 as compared with
the same period of 2015, contributing 79.5 percentage points as a
result of an increase of 8.2% in the prices of this group. The food &
beverages group contributed 5 percentage points to the overall
increase in the CPI during January-February 2016 as compared
with the same period of 2015. (GulfBase.com)
 Burgan Bank reports 31% YoY increase in 4Q2015 net profit –
Kuwait’s Burgan Bank has reported a net profit of KD17.1mn in
4Q2015 as compared to KD13.1mn in 4Q2014, representing an
increase of 31% YoY. Earlier, on December 31, 2015, the bank
announced that it is selling a controlling stake in Jordan Kuwait
Bank to another subsidiary of parent firm KIPCO, in a transaction
it later disclosed was worth KD191.1mn. The impact of the sale
was due to be included in its 4Q2015 numbers. The bank’s 2015
profit was KD76.1mn, up from KD61.8mn in 2014. The lender has
proposed paying a 2015 dividend of KD0.018 per share. This
compares with KD0.015 cash dividend and 5% stock dividend for
2014. (Reuters)
 Zain: No fresh developments in tower sale plan – Zain Group has
said that there are no fresh developments in its plans to sell mobile
transmitter towers in Saudi Arabia and its domestic market
Kuwait. The company is always looking for opportunities to add
value and seek investment opportunities to support or benefit
shareholders. (Reuters)
 Al Hassan Engineering MD steps down – Al Hassan Engineering has
informed that Maqbool bin Ali Salman has resigned from the post
of Managing Director, with effect from March 20, 2016. The board
of directors (BoD) has accepted his resignation. However, he will
continue his position as a non-executive member & vice chairman
of the board. This decision has been taken in compliance with the
new code of corporate governance issued by the Capital Market
Authority. (MSM)
 Leasing firms raise capital to OMR25mn ahead of regulatory
deadline – A majority of leasing and hire purchase companies in
Oman have reached the minimum capital requirement stipulated
by the Central Bank of Oman (CBO) at OMR25mn, well ahead of its
deadline by the year-end. A few other companies have structured
their bond conversion plans in such a way so as to touch the paid-
up capital at OMR25mn before 2016-end. (GulfBase.com)
 NAP AGM approves cash dividend – National Aluminium Products’
(NAP) annual general meeting (AGM) has approved a total cash
dividend of 13 baizas per share (representing 13% of the value of
each share). (MSM)
 Oman not yet invited to Doha oil producers meeting – Oman’s Oil
Minister Mohammad bin Hamad al-Rumhy said that Oman has not
yet been invited to the April 17 meeting in Qatar, where oil
producers plan to discuss a global pact to freeze production to
support prices. OPEC and non-OPEC producers will meet in Doha
in April 2016, following an initial deal in February 2016 between
Saudi Arabia, Qatar, Venezuela and non-OPEC member Russia. It
remains unclear whether all 13 OPEC members will attend the
Doha meeting, and which non-OPEC producers will do so. Oman is
a small non-OPEC producer. (Reuters)
 Investcorp acquires five residential properties – Investcorp has
announced that its US-based real estate arm, through two separate
transactions, has acquired five residential properties in the

5. Page 5 of 6
metropolitan areas of Boca Raton, Florida and Minneapolis,
Minnesota for around $220mn. The acquisitions are consistent
with lnvestcorp's strategy to invest in desirable, high quality
properties located in high demand markets providing attractive
cash yields. (Bahrain Bourse)
 BKIC general assembly approves 30% cash dividend – Bahrain
Kuwait Insurance Company’s (BKIC) general assembly has
approved 30% cash dividend from the paid-up capital. (Bahrain
Bourse)

6. Contacts
Saugata Sarkar Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
`
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
80.0
100.0
120.0
140.0
160.0
180.0
Feb-12 Feb-13 Feb-14 Feb-15 Feb-16
QSE Index S&P Pan Arab S&P GCC
1.4%
(0.1%) (0.1%)
0.6% 0.4%
(2.3%)
0.1%
(3.0%)
(1.5%)
0.0%
1.5%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,255.32 (0.2) 0.4 18.3 MSCI World Index 1,645.57 0.2 1.2 (1.0)
Silver/Ounce 15.80 (0.7) 2.9 14.0 DJ Industrial 17,602.30 0.7 2.3 1.0
Crude Oil (Brent)/Barrel (FM Future) 41.20 (0.8) 2.0 10.5 S&P 500 2,049.58 0.4 1.4 0.3
Crude Oil (WTI)/Barrel (FM Future) 39.44 (1.9) 2.4 6.5 NASDAQ 100 4,795.65 0.4 1.0 (4.2)
Natural Gas (Henry Hub)/MMBtu 1.84 1.1 6.7 (20.5) STOXX 600 341.71 (0.1) 0.9 (3.1)
LPG Propane (Arab Gulf)/Ton 46.00 (2.4) (2.6) 17.6 DAX 9,950.80 0.2 2.3 (4.3)
LPG Butane (Arab Gulf)/Ton 52.75 (1.4) 1.0 (8.3) FTSE 100 6,189.64 (0.1) 1.4 (2.5)
Euro 1.13 (0.4) 1.0 3.8 CAC 40 4,462.51 0.1 0.4 (0.1)
Yen 111.55 0.1 (2.0) (7.2) Nikkei 16,724.81 (1.4) 0.6 (5.0)
GBP 1.45 (0.0) 0.7 (1.8) MSCI EM 826.75 1.2 3.2 4.1
CHF 1.03 (0.2) 1.4 3.4 SHANGHAI SE Composite 2,955.15 1.8 5.3 (16.3)
AUD 0.76 (0.5) 0.6 4.4 HANG SENG 20,671.63 0.8 2.4 (5.7)
USD Index 95.09 0.3 (1.1) (3.6) BSE SENSEX 24,952.74 1.2 1.8 (4.7)
RUB 68.24 0.2 (2.1) (5.9) Bovespa 50,814.66 1.2 2.8 28.8
BRL 0.28 0.0 (1.2) 9.2 RTS 885.13 1.3 4.7 16.9
121.5
98.5
96.9