The QSE Index rose 1.5% to close at 9,976.5.

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose 1.5% to close at 9,976.5. Gains were led by the Real Estate and
Insurance indices, gaining 6.1% and 2.3%, respectively. Top gainers were Ezdan
Holding Group and The Commercial Bank, rising 9.8% and 4.1%, respectively. Among
the top losers, Zad Holding Company fell 2.9%, while Dlala Brokerage & Investment
Holding Company was down 0.8%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.1% to close at 8,289.0. Losses were led by the
Food & Staples Retailing and Utilities indices, falling 2.2% and 1.8%, respectively.
United Electronics Co. declined 4.2%, while Al Jouf Cement Co. was down 4.0%.
Dubai: The DFM General Index gained 0.8% to close at 2,978.5. The Services index
rose 1.7%, while the Real Estate & Const. index gained 1.3%. Emaar Malls rose
2.5%, while GFH Financial Group was up 2.2%.
Abu Dhabi: The ADX General Index fell 0.3% to close at 4,845.4. The
Telecommunication index declined 1.2%, while the Banks index fell 0.2%. Invest
Bank declined 10.0%, while National Bank of Ras Al-Khaimah was down 4.3%.
Kuwait: The Kuwait Main Market Index rose 0.2% to close at 4,942.8. The
Technology index gained 3.0%, while the Oil & Gas index rose 2.3%. Kuwait Remal
Real Estate gained 17.8%, while Kuwait & Middle East Financial Inv. was up 12.5%.
Oman: The MSM 30 Index rose 0.1% to close at 4,340.6. The Services index gained
0.1%, while the other indices ended in red. Oman Telecommunication rose 1.8%,
while Alizz Islamic Bank was up 1.3%.
Bahrain: The BHB Index fell 0.4% to close at 1,353.5. The Commercial Banks index
declined 0.6%, while the Services index fell 0.4%. Al Baraka Banking Group
declined 1.7%, while Ahli United Bank was down 1.4%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 9.94 9.8 1,285.5 (17.7)
The Commercial Bank 42.49 4.1 278.4 47.0
Qatar Insurance Company 37.50 3.3 490.1 (17.1)
Doha Bank 26.35 3.3 169.4 (7.5)
The Group Islamic Insurance Co. 55.50 2.8 6.6 1.0
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 9.94 9.8 1,285.5 (17.7)
Masraf Al Rayan 39.20 1.2 598.9 3.8
Qatar Insurance Company 37.50 3.3 490.1 (17.1)
Vodafone Qatar 9.19 0.4 451.8 14.6
Qatar First Bank 5.12 0.0 432.1 (21.6)
Market Indicators 01 Aug 18 31 July 18 %Chg.
Value Traded (QR mn) 238.3 362.3 (34.2)
Exch. Market Cap. (QR mn) 549,804.1 539,850.5 1.8
Volume (mn) 6.6 10.2 (34.7)
Number of Transactions 3,827 4,986 (23.2)
Companies Traded 41 41 0.0
Market Breadth 26:13 27:10 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 17,577.50 1.5 3.8 23.0 15.1
All Share Index 2,906.21 2.1 5.0 18.5 15.3
Banks 3,595.90 2.2 6.6 34.1 14.6
Industrials 3,193.92 0.9 2.5 21.9 17.0
Transportation 2,006.69 (0.1) 2.2 13.5 12.5
Real Estate 1,816.18 6.1 11.2 (5.2) 15.5
Insurance 3,184.37 2.3 4.4 (8.5) 28.5
Telecoms 1,009.08 (0.1) (3.4) (8.2) 39.6
Consumer 6,299.25 0.0 (0.6) 26.9 13.6
Al Rayan Islamic Index 3,902.66 1.1 1.9 14.1 17.1
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
The Commercial Bank Qatar 42.49 4.1 278.4 47.0
Qatar Insurance Co. Qatar 37.50 3.3 490.1 (17.1)
Doha Bank Qatar 26.35 3.3 169.4 (7.5)
Qatar Electricity & Water Qatar 194.98 2.6 46.2 9.5
Barwa Real Estate Co. Qatar 37.20 2.5 208.3 16.3
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
DP World Dubai 22.50 (2.2) 62.2 (10.0)
Saudi Electricity Co. Saudi Arabia 18.82 (1.9) 2,403.1 (10.6)
HSBC Bank Oman Oman 0.12 (1.7) 90.3 (10.2)
Co. for Cooperative Ins. Saudi Arabia 60.20 (1.6) 141.5 (36.2)
Ahli United Bank Bahrain 0.68 (1.4) 2,802.0 2.0
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC
Composite Large Mid Cap Index)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Zad Holding Company 90.15 (2.9) 1.7 22.4
Dlala Brokerage & Inv. Holding 14.49 (0.8) 33.5 (1.4)
Alijarah Holding 9.20 (0.8) 94.2 (14.1)
Qatar Oman Investment Co. 6.12 (0.6) 12.0 (22.5)
Qatar Navigation 65.10 (0.6) 8.8 16.4
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
QNB Group 179.00 2.3 60,512.0 42.1
Industries Qatar 125.00 0.4 25,276.8 28.9
Masraf Al Rayan 39.20 1.2 23,362.6 3.8
Qatar Insurance Company 37.50 3.3 18,263.9 (17.1)
Qatar Islamic Bank 135.99 2.2 12,981.3 40.2
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* 9,976.51 1.5 3.8 1.5 17.0 65.33 151,031.2 15.1 1.5 4.4
Dubai 2,978.54 0.8 1.0 0.8 (11.6) 27.04 104,837.6 9.5 1.1 5.7
Abu Dhabi 4,845.35 (0.3) 0.0 (0.3) 10.2 35.17 132,249.7 12.6 1.4 5.0
Saudi Arabia 8,288.98 (0.1) (0.9) (0.1) 14.7 961.11 525,096.3 17.8 1.9 3.2
Kuwait 4,942.81 0.2 (0.1) 0.2 2.4 58.15 34,144.0 15.4 0.9 4.0
Oman 4,340.57 0.1 0.1 0.1 (14.9) 2.91 18,538.3 10.5 0.9 6.3
Bahrain 1,353.45 (0.4) (1.1) (0.4) 1.6 6.31 20,769.2 8.5 0.9 6.1
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,800
9,850
9,900
9,950
10,000
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 rose 1.5% to close at 9,976.5. 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 and GCC shareholders.
 Ezdan Holding Group and The Commercial Bank were the top gainers,
rising 9.8% and 4.1%, respectively. Among the top losers, Zad Holding
Company fell 2.9%, while Dlala Brokerage & Investment Holding
Company was down 0.8%.
 Volume of shares traded on Wednesday fell by 34.7% to 6.6mn from
10.2mn on Tuesday. Further, as compared to the 30-day moving average
of 7.0mn, volume for the day was 5.7% lower. Ezdan Holding Group and
Masraf Al Rayan were the most active stocks, contributing 19.4% and
9.0% to the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases, Global Economic Data and Earnings Calendar
Earnings Releases
Company Market Currency
Revenue (mn)
2Q2018
% Change
YoY
Operating Profit
(mn) 2Q2018
% Change
YoY
Net Profit
(mn) 2Q2018
% Change
YoY
Al-Rajhi Company for Cooperative
Insurance
Saudi Arabia SR 638.2 -6.2% – – 4.3 32.4%
Bawan Co. Saudi Arabia SR – – 5.5 -68.1% 1.6 -82.0%
Trade Union Cooperative
Insurance Co.
Saudi Arabia SR 220.8 -23.5% – – 2.0 -50.1%
Arabian Shield Cooperative
Insurance Co.
Saudi Arabia SR 93.4 -43.5% – – 4.5 434.7%
Al Sorayai Trading and Industrial
Group
Saudi Arabia SR – – 6.2 N/A 0.9 N/A
Saudi Pharmaceutical Industries
and Medical Appliances Corp.
Saudi Arabia SR – – 36.5 -29.0% 35.5 -33.6%
Advanced Petrochemical Company Saudi Arabia SR – – 246.6 28.4% 253.3 30.2%
Arabian Cement Co. Saudi Arabia SR – – -52.2 N/A -50.9 N/A
Saudi Advanced Industries Co. Saudi Arabia SR – – 14.3 100.4% 13.7 81.1%
Abdullah Al Othaim Markets Co. Saudi Arabia SR – – 67.2 6.6% 74.1 4.1%
Aramex Dubai AED 1,232.0 7.4% – – 122.0 25.8%
Insurance House Abu Dhabi AED 46.2 -3.2% – – 2.8 1,185.6%
Abu Dhabi National Insurance
Company
Abu Dhabi AED 593.6 18.9% – – 55.4 1.7%
Finance House Abu Dhabi AED 66.8 8.7% – – -2.1 N/A
Bahrain Commercial Facilities
Company
Bahrain BHD 9.1 7.8% – – 5.4 13.3%
Bahrain Family Leisure Bahrain BHD – – – – -0.6 N/A
Source: Company data, DFM, ADX, MSM, TASI, BHB.
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
08/01 US Mortgage Bankers Association MBA Mortgage Applications 27-July -2.6% – -0.2%
08/01 EU Markit Markit Eurozone Manufacturing PMI July 55.1 55.1 55.1
08/01 Germany Markit Markit Germany Manufacturing PMI July 56.9 57.3 57.3
08/01 France Markit Markit France Manufacturing PMI July 53.3 53.1 53.1
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Earnings Calendar
Tickers Company Name Date of reporting 2Q2018 results No. of days remaining Status
MCCS Mannai Corporation 2-Aug-18 0 Due
GISS Gulf International Services 5-Aug-18 3 Due
QCFS Qatar Cinema & Film Distribution Company 5-Aug-18 3 Due
MPHC Mesaieed Petrochemical Holding Company 6-Aug-18 4 Due
MCGS Medicare Group 6-Aug-18 4 Due
IGRD Investment Holding Group 6-Aug-18 4 Due
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 28.41% 37.46% (21,569,457.16)
Qatari Institutions 8.38% 21.45% (31,134,604.49)
Qatari 36.79% 58.91% (52,704,061.65)
GCC Individuals 0.36% 1.31% (2,262,992.59)
GCC Institutions 1.95% 3.51% (3,714,257.40)
GCC 2.31% 4.82% (5,977,249.99)
Non-Qatari Individuals 7.83% 11.76% (9,369,810.69)
Non-Qatari Institutions 53.06% 24.51% 68,051,122.33
Non-Qatari 60.89% 36.27% 58,681,311.64

3. Page 3 of 6
MERS Al Meera Consumer Goods Company 7-Aug-18 5 Due
QGMD Qatari German Company for Medical Devices 8-Aug-18 6 Due
IQCD Industries Qatar 8-Aug-18 6 Due
ZHCD Zad Holding Company 9-Aug-18 7 Due
MRDS Mazaya Qatar Real Estate Development 13-Aug-18 11 Due
Source: QSE
News
Qatar
 Qatar’s index delivers highest return among emerging and
developed world markets in 2018 – QSE Index broke pre-
blockade levels and the market recorded significant increases in
market capitalization and trading volumes. The QSE index has
delivered 17.05% return since the beginning of the year until
the close on August 1, 2018 trading session, making it the best
performing market across emerging and developed markets
globally. In 2018, the market has seen $1.45bn in foreign net
inflows demonstrating confidence in the outlook for Qatar,
particularly among foreign investors. The index closed at
9,976.51 on August 1, 2018 and broke the levels achieved on
June 4, 2017 of 9,923.6 (pre-blockade levels) and the market
capitalization has increased by 3.2% reaching QR549.8bn,
compared to QR532.5bn on June 4, 2017. The average daily
traded value on QSE has recorded significant increase since the
beginning of the year and reached QR350mn during the first
seven months of 2018, compared to QR328mn during the same
period last year. (QSE)
 Qatar Islamic Insurance Company changes its name to ‘The
Group Islamic Insurance Company’ – Qatar Islamic Insurance
Company, one of the leading Takaful insurance companies in
Qatar and the world has changed its name to ‘The Group Islamic
Insurance Company’. According to a regulatory filing with the
Qatar Stock Exchange, the Shari’ah-compliant insurance
services provider announced that its Board of Directors have
management received approval from Qatar Central Bank (QCB),
the insurance market regulator, to change company name from
Qatar Islamic Insurance Company to The Group Islamic
Insurance Company and establish real estate company owned
100% for the group. In its meeting held recently, the Board of
Directors approved to change the name of the company and the
continuation of the necessary procedures and raise
recommendation to the EGM to amend the Articles of
Association of the company in accordance with the regulations
and instructions regulating it. (Peninsula Qatar)
 QCB: Qatar’s foreign reserves rise 13% in June – Qatar’s foreign
reserves rose 12.5% YoY in June, according to the data released
by the Qatar Central Bank’s (QCB). Qatar’s overseas reserves
grew to QR164.6bn last June, compared to QR146.3bn in the
same month a year earlier, the QCB’s monthly monetary
bulletin revealed. On a monthly basis, international reserves
leveled up 0.91% to QR163.12bn during June, from QR146.3bn
in May. The central bank attributed the rise in international
reserves to the increase in bond and treasury bills to QR33.3bn
in June, versus QR23.15bn for the same period of the previous
year. Moreover, the gas-rich country’s international reserves
included foreign-currency liquid assets of QR72.7bn, in addition
to Qatar’s special drawing rights (SDRs) held with the
International Monetary Fund (IMF), which amounted to
QR1.4bn. (Zawya)
 QCB sells QR1.1bn of Treasury bills – Qatar Central Bank (QCB)
sold QR1.1bn of Treasury bills at a monthly auction, with yields
falling from the last month, Reuters reported. The bank sold
QR600mn of three-month bills at a yield of 2.21%, QR300mn of
six month bills at 2.53% and QR200mn of nine-month paper at
2.75%. Last month, QCB sold QR700mn of three-month bills at
2.38%, QR300mn of six month bills at 2.63% and QR200mn of
nine-month debt at a yield of 2.83%. (Peninsula Business)
 QIA to invest $500mn in Indonesia tourism – Indonesia’s
Coordinating Minister for Maritime Affairs, Luhut Binsar
Pandjaitan, and Qatar Investment Authority’s (QIA) CEO,
Sheikh HE Abdulla Bin Mohamed Bin Saud Al Thani signed a
Memorandum of Understanding (MoU) that will see QIA
investing up to $500mn to boost tourism in the south-east
Asian country. Under the MoU, QIA will invest the money in a
series of projects to develop tourism within Indonesia’s ‘Top 10
Tourism Priority Destinations’, a press statement issued by QIA
stated. These ten destinations have been identified to make
tourism as the largest contributor to Indonesian GDP by 2030.
The Indonesian Coordinating Ministry for Maritime Affairs
(CMMA) will work closely with QIA to explore and evaluate
potential investment development opportunities in the ten
destinations. The MoU also allows QIA to invite other co-
investors to join the project alongside QIA. (Gulf-Times.com)
 Qatar’s population lowest in 11 months – Qatar’s population
has fallen to its lowest levels since August last year, according
to figures released by the Ministry of Development Planning &
Statistics (MDPS). The population at the end of July was
2,450,285, around 5.3% lower than the June figure of 2,580,734,
according to the MDPS data. The previous lowest population in
the past one year was at the end of August 2017, when the
country had some 2,446,328 people. The fall could be attributed
to the fact that a large number of residents have travelled out of
the country, as is the practice, owing to the annual summer
vacation. (Gulf-Times.com)
International
 Global factory growth slowing; China-US trade war biting –
Factory growth stuttered across the world in July, heightening
concerns about the global economic outlook as an intensifying
trade conflict between the US and China sent shudders through
trading partners. Global economic activity remains healthy, but
it has already passed its peak, according to economists polled
by Reuters last month. They expect protectionist policies on
trade, which show no signs of abating, to tap the brakes.
However, slowing growth, wilting confidence, and trade war
fears are not likely to deter major central banks from moving
away from their ultra-loose monetary policies put in place in
the wake of the 2008 financial crisis. (Reuters)

4. Page 4 of 6
 Fed leaves rates unchanged, stays on course for September hike
– The US Federal Reserve kept interest rates unchanged but
characterized the economy as strong, keeping the central bank
on track to increase borrowing costs in September. The Fed
stated economic growth has been rising strongly and the job
market has continued to strengthen, while inflation has
remained near the central bank’s 2% target since its last policy
meeting in June, when it raised rates. The Fed’s decision left its
benchmark overnight lending rate in a range of 1.75% to 2.00%.
(Reuters)
 Trade tensions, labor shortages loom over US factories – US
manufacturing activity slowed in July amid signs that a robust
economy and import tariffs were putting pressure on the supply
chain, which could hurt production in the long term. Other data
showed private employers stepped up hiring in July, suggesting
strength in the labor market and the overall economy at the
start of the third quarter. The economy’s vibrancy was
acknowledged by the Federal Reserve, which described activity
as rising at a strong rate. The Institute for Supply Management
(ISM) stated its index of national factory activity fell to a
reading of 58.1 last month from 60.2 in June. A reading above 50
indicates expansion in manufacturing, which accounts for
about 12% of the US economy. (Reuters)
 US construction spending posts biggest drop in more than a
year – US construction spending recorded its biggest drop in
more than a year in June as investment in both private and
public projects fell, but spending for the prior months was
revised sharply higher. The Commerce Department stated that
construction spending fell 1.1%, the largest decline since April
2017. Data for May was revised up to show construction
outlays rising 1.3% instead of the previously reported 0.4%
gain. April’s outlays were also revised up to show them
increasing 1.7% instead of 0.9%. Economists polled by Reuters
had forecast that construction spending would advance 0.3% in
June. Construction spending accelerated 6.1% on YoY basis.
(Reuters)
 UK factories lose steam on eve of Bank of England rate decision
– British factories lost momentum in July and manufacturers
were their most downbeats in nearly two years, a survey
showed, but the data was unlikely to deter the Bank of England
from raising interest rates. The weak domestic demand
highlighted in the IHS Markit/CIPS UK Manufacturing
Purchasing Managers’ Index (PMI) added to other signs of a
largely sluggish British economy facing an uncertain exit from
the European Union in less than eight months’ time. The PMI
slipped to its second-lowest level since late 2016 at 54.0, down
from 54.3 in June and weaker than a median forecast of 54.2 in a
Reuters poll of economists. (Reuters)
 UK house prices pick up a little speed in July – British house
prices gained a bit of momentum in July after rising at their
slowest annual rate in five years in June, according to mortgage
lender Nationwide. House prices rose by an average 2.5% from
July last year, faster than growth of 2.0% in June and above a
forecast for 1.9% rise in a Reuters poll of economists. In
monthly terms, prices rose by 0.6% in July from June, faster
than the Reuters poll forecast of 0.2%. Nationwide stated the
annual increase remained in the narrow 2-3% range of the past
12 months and the lender still expected prices to rise by only
1% in 2018. (Reuters)
 Eurozone’s factory growth subdued on trade fears, rising prices
– Eurozone’s manufacturing growth remained subdued in July
as worries about trade tensions, tariffs and rising prices kept
optimism in check, a survey showed. IHS Markit’s July final
manufacturing Purchasing Managers’ Index only nudged up to
55.1 from June’s 18-month low of 54.9, unchanged from an
initial reading and still comfortably above the 50 level that
separates growth from contraction. The output index made a
similar small move, rising to 54.4 from June’s 54.2, which was
its lowest reading since November 2016. (Reuters)
 German factory growth accelerates in July – Higher output and
stronger new orders led to faster growth in Germany’s
manufacturing sector in July, a survey showed. Markit’s
Purchasing Managers’ Index (PMI) for manufacturing, which
accounts for about a fifth of the economy, rose to 56.9 from 55.9
in June. July matched May’s reading and was well above the 50
line that separates growth from contraction. The figure was
lower than a flash reading of 57.3, however. (Reuters)
 India central bank hikes key rate for second straight meet;
neutral stance kept – Reserve Bank of India raised interest rates
for the second straight meeting, but retained its neutral stance
as it aimed to contain inflation while not choking growth. The
RBI’s Monetary Policy Committee (MPC) raised the repo rate by
25 basis points to 6.50%. It is the first time since October 2013
that the rate has been increased at consecutive policy meetings.
In June, the MPC also increased the key rate by 25 bps. The rate
action was in line with a Reuters poll last week, which showed
37 of 63 economists expecting a rate increase. The bank’s
decision to raise rates comes as global central banks, such as
the US Federal Reserve, the Bank of England and the
Indonesian central bank also adopt a tightening path. (Reuters)
 India’s factory growth eases in July on weaker demand –
Growth in India’s manufacturing industry slowed last month,
largely pressured by a modest weakening in demand and
output, though overall conditions remained solid, a private
survey showed. The Nikkei Manufacturing Purchasing
Managers’ Index, compiled by IHS Markit, decreased to 52.3 in
July from June’s 53.1, below a Reuters poll median of 53.0. Yet
the index has now held above the 50-mark that separates
growth from contraction for 12 straight months, indicating the
economy was on a reasonably solid footing and could retain the
title of fastest growing major economy in the coming quarters.
(Reuters)
Regional
 OPEC’s oil production climbs as Saudi Arabia pumps near record
– The Organization of Petroleum Exporting Countries’ crude
output increased in July as Saudi Arabia pumped near-record
volumes to make good on a pledge to consumers that demand
would be met. The kingdom’s oil production grew by 230,000
barrels per day (bpd) in July to 10.65mn bpd. This is just below
of an all-time peak reached in 2016, according to Bloomberg.
Higher crude output from the Saudi Arabia, along with Nigeria
and Iraq, pushed up total production from OPEC by 300,000 bpd,
offsetting losses from spiraling economic collapse in Venezuela,
political clashes in Libya and the onset of US sanctions against
Iran. (Bloomberg)

5. Page 5 of 6
 Saudi Arabia’s IT & telecom sector logs 29% increase in online
hiring – E-recruitment in the Kingdom of Saudi Arabia’s IT and
Telecom sector recorded a substantial increase of 29% from
June 2017, while overall hiring in the Kingdom has risen 10% in
the same period, according to Monster Employment Index (MEI)
report. The increase in demand for talent in the IT and Telecom
sector follows Crown Prince Muhammad Bin Salman’s
announcement of ‘Project Neom’ at The Future Investment
Initiative in 2017. The $500bn ultra-high-tech future megacity
is part of Saudi Arabia’s national strategy to drive a digital
evolution in the country, a key enabler in achieving the
milestones and objectives of Vision 2030. (GulfBase.com)
 CMA announces the approval of the capital increase of Taleem
REIT Fund – Saudi Arabia’s Capital Market Authority (CMA)
issued its resolution approving the Saudi Fransi Capital’s
request to increase Taleem REIT Fund’s capital from SR285mn
to SR510mn for the purpose of acquiring real estate assets. Such
approval was granted upon the Saudi Fransi Capital’s request
complied with the relevant disclosure requirements as per the
Real Estate Investment Funds Regulations and Real Estate
Investment Traded Funds Instructions. (Tadawul)
 Capital, reserves of UAE banks hit $90bn in 2Q2018 – The
aggregate capital and reserves of banks operating in the UAE
increased by 4.4%, reaching $90bn by the end of 2Q2018
compared to 1.5% increase at the end of 2Q2017. The total
capital adequacy ratio showed an increase of 3.4% during
2Q2018, compared to a decrease of 0.5% during 2Q2017,
according to Central Bank of the UAE (CBUAE). Banks
continued to remain well above the 12.375% Capital Adequacy
Ratio, which includes the 1.875% Capital Conservation Buffer
requirement and 8.5% Tier 1 Ratio as prescribed by the CBUAE
regulations in compliance to Basel III guidelines.
(GulfBase.com)
 Dubai’s tourism growth slows in 1H2018 – The number of
foreigners visiting Dubai grew by 0.5% in 1H2018, a
substantially slower rate than the 10.6% growth recorded a
year earlier, official date showed. Dubai, which has spent
billions on building attractions including the world’s tallest
tower, hosted 8.1mn international overnight tourists in
1H2018, the tourism department stated. It had previously
reported 8.06mn tourists for 1H2017. (Reuters)
 Dubai housing rents stable for first time in two years –
Residential rents across Dubai registered no change during
1Q2018, helping improve the annual rate of change to -3.1%,
from -7.7% at the end of last year, according to Cluttons. This
marks the first stable quarter for rents in the Emirate in over
two years. While the rental market had shown signs of
stabilizing, the growing volume of off-plan investment stock,
destined to be made available for rent after handover, may pose
challenges in the future, it stated. The ability of the rental
market to absorb a high volume of new stock would likely be
tested over the next three years, it added. (GulfBase.com)
 Abu Dhabi’s hotels report 6% rise in guest numbers – Number of
hotel guests staying in Abu Dhabi in June rose by 6% compared
to the same month last year, driven largely by growing number
of visitors from Saudi Arabia and the US, according to
Department of Culture and Tourism - Abu Dhabi. Completing a
record-breaking first half of the year, June’s results reveal the
department’s plans to exceed 2017’s numbers of guest arrivals,
when close to 5mn people stayed in the Emirate, are on track. In
total 339,592 visitors stayed in Abu Dhabi’s 162 hotels and
hotel apartments during June, an increase of more than 19,000
over the previous year. For 1H2018, the figures showed Abu
Dhabi upping the total number of hotel guests to the Emirate by
5% on the year, with 2,413,230 guests in total arriving.
(GulfBase.com)
 Kuwait will not waver in executing economic reform – Kuwait
will not waver in executing the economic and financial reform
initiated three years ago through activation of economic reform
document submitted by the Ministry of Finance, which has
become the national program for economic and financial
sustainability, according to a report. Sources said the relatively
improved global oil prices in recent times has helped reduce the
deficit in public budget to some extent but the positive
headway does not mean that Kuwait will quit the economic
reform program and demographic reform process or reinstate
subsidies. (GulfBase.com)
 Kuwait says oil market approaching stability – Kuwait’s Oil
Minister, Bakhit Al Rashidi said that the global oil market was
approaching stability based on current production levels after
the recent OPEC and non-OPEC agreement to boost output. “It
is clear today based on the current level of production that we
are approaching a very stable stage, whether for the consumers
or the producers,” Al Rashidi said. Kuwait has raised its oil
output under June’s agreement and is pumping 2.8mn bpd, he
said, adding that the country’s production capacity is 3.1mn
bpd. An upcoming joint OPEC and non-OPEC committee
meeting in Algeria, set for September 22-23, will review
producers’ oil supply levels after OPEC and others led by Russia
agreed in June to raise output to cool the market, the minister
said. (Gulf-Times.com)
 CBO issues Treasury bills worth OMR58mn – The Central Bank
of Oman (CBO) raised OMR58mn by way of allotting treasury
bills. The treasury bills are for a maturity period of 91 days,
from August 1, 2018 until October 31, 2018. The average
accepted price reached 99.481 for every OMR100, and the
minimum accepted price arrived at 99.420 per OMR100.
Whereas the average discount rate and the average yield
reached 2.08364% and 2.09458%, respectively. The interest
rate on the Repo operations with CBO is 2.582% for the period
from July 31, 2018 to August 6, 2018, while the discount rate on
the Treasury Bills Discounting Facility with CBO is 3.332%, for
the same period. (GulfBase.com)

6. Contacts
Saugata Sarkar, CFA, CAIA 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 Co. W.L.L.
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange. Qatar National Bank (Q.P.S.C.) 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
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg (
#
Market closed on August 01, 2018) Source: Bloomberg (*$ adjusted returns)
40.0
60.0
80.0
100.0
120.0
Jul-14 Jul-15 Jul-16 Jul-17 Jul-18
QSE Index S&P Pan Arab S&P GCC
(0.1%)
1.5%
0.2%
(0.4%)
0.1%
(0.3%)
0.8%
(0.6%)
0.0%
0.6%
1.2%
1.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,215.95 (0.7) (0.6) (6.7) MSCI World Index 2,149.36 (0.2) (0.3) 2.2
Silver/Ounce 15.38 (0.9) (0.7) (9.2) DJ Industrial 25,333.82 (0.3) (0.5) 2.5
Crude Oil (Brent)/Barrel (FM Future) 72.39 (2.5) (2.6) 8.3 S&P 500 2,813.36 (0.1) (0.2) 5.2
Crude Oil (WTI)/Barrel (FM Future) 67.66 (1.6) (1.5) 12.0 NASDAQ 100 7,707.29 0.5 (0.4) 11.6
Natural Gas (Henry Hub)/MMBtu#
2.82 0.0 1.3 (20.4) STOXX 600 389.84 (0.8) (0.5) (2.8)
LPG Propane (Arab Gulf)/Ton 93.63 (2.0) (3.2) (5.4) DAX 12,737.05 (0.8) (0.9) (4.3)
LPG Butane (Arab Gulf)/Ton 102.50 (3.3) (3.1) (5.5) FTSE 100 7,748.76 (1.3) (0.6) (3.4)
Euro 1.17 (0.3) 0.0 (2.9) CAC 40 5,498.37 (0.5) (0.2) 0.4
Yen 111.73 (0.1) 0.6 (0.9) Nikkei 22,746.70 1.0 (0.6) 0.7
GBP 1.31 0.0 0.2 (2.9) MSCI EM 1,086.87 (0.1) (0.5) (6.2)
CHF 1.01 (0.2) 0.2 (1.8) SHANGHAI SE Composite 2,824.53 (1.9) (1.9) (18.6)
AUD 0.74 (0.3) 0.1 (5.2) HANG SENG 28,340.74 (0.9) (1.6) (5.7)
USD Index 94.66 0.1 (0.0) 2.8 BSE SENSEX 37,521.62 (0.0) 0.9 3.0
RUB 63.04 0.8 0.4 9.4 Bovespa 79,301.65 0.1 (1.4) (8.5)
BRL 0.27 0.2 (1.0) (11.7) RTS 1,160.09 (1.1) 0.7 0.5
89.4
86.3
82.2