The QSE Index rose 0.3% to close at 9,775.0.

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose 0.3% to close at 9,775.0. Gains were led by the Transportation and
Industrials indices, gaining 0.9% and 0.8%, respectively. Top gainers were Commercial
Bank and Industries Qatar, rising 4.4% and 2.5%, respectively. Among the top losers, Al
Khalij Commercial Bank fell 2.8%, while Doha Bank was down 2.2%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.3% to close at 6,628.9. Losses were led by the Real
Estate Development and Retail indices, falling 1.7% and 0.8%, respectively. Red Sea
Housing Services fell 4.1%, while Saudi Print. & Pack. Co. was down 3.5%.
Dubai: The DFM Index gained 1.4% to close at 3,309.8. The Financial & Investment
Services rose 4.1%, while the Banks index gained 2.1%. GFH Financial Group rose
13.6%, while SHUAA Capital was up 12.2%.
Abu Dhabi: The ADX benchmark index rose marginally to close at 4,292.1. The Real
Estate index gained 1.6%, while the Industrial index rose 0.4%. Ras Al Khaimah
Ceramics Co. gained 2.9%, while Methaq Takaful Insurance Co. was up 2.4%.
Kuwait: The KSE Index rose 0.3% to close at 5,511.7. The Health Care and
Telecommunication indices rose 1.6% each. Yiaco Medical Co. gained 9.4%, while AWJ
Holding Co. was up 8.0%.
Oman: The MSM Index rose marginally to close at 5,496.1. The Financial index rose
0.1%, while other indices ended in red. Taageer Finance rose 1.7%, while Oman United
Insurance was up 1.4%.
Bahrain: The BHB Index gained 1.0% to close at 1,180.3. The Investment index rose
1.9%, while the Commercial Banks index gained 1.1%. GFH Financial Group rose 9.5%,
while Bahrain Islamic Bank was up 8.9%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Commercial Bank 33.00 4.4 653.6 (28.1)
Industries Qatar 104.00 2.5 463.7 (6.4)
Qatar Gas Transport Co. Ltd. 22.95 1.9 231.4 (1.7)
Widam Food Co. 62.00 1.6 2.0 17.4
Vodafone Qatar 9.65 1.6 1,412.7 (24.0)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Vodafone Qatar 9.65 1.6 1,412.7 (24.0)
Commercial Bank 33.00 4.4 653.6 (28.1)
Ezdan Holding Group 14.95 (0.1) 640.8 (6.0)
Qatar First Bank 9.93 (1.9) 523.3 (33.8)
Industries Qatar 104.00 2.5 463.7 (6.4)
Market Indicators 17 Nov 16 16 Nov 16 %Chg.
Value Traded (QR mn) 249.5 258.2 (3.4)
Exch. Market Cap. (QR mn) 528,328.6 526,522.0 0.3
Volume (mn) 6.0 10.5 (42.7)
Number of Transactions 3,090 4,453 (30.6)
Companies Traded 37 40 (7.5)
Market Breadth 19:13 24:12 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 15,815.27 0.3 (1.9) (2.4) 14.2
All Share Index 2,699.55 0.3 (1.7) (2.8) 13.3
Banks 2,738.95 0.1 (1.0) (2.4) 11.8
Industrials 3,027.76 0.8 (0.8) (5.0) 16.8
Transportation 2,425.41 0.9 0.7 (0.2) 12.4
Real Estate 2,152.22 0.0 (4.4) (7.7) 17.6
Insurance 4,287.36 (1.4) (2.8) 6.3 11.1
Telecoms 1,114.38 0.8 (3.8) 13.0 20.2
Consumer 5,642.83 0.6 (1.1) (6.0) 11.2
Al Rayan Islamic Index 3,615.25 0.7 (1.9) (6.2) 15.7
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Nat. Mobile Telecom. Kuwait 1.16 7.4 32.8 5.5
Nat. Petrochemical Co. Saudi Arabia 19.01 5.8 197.9 13.8
Saudi Chemical Co. Saudi Arabia 34.22 4.6 856.0 (40.3)
Commercial Bank Qatar 33.00 4.4 653.6 (28.1)
Ithmaar Bank Bahrain 0.13 4.2 302.0 (16.7)
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Energy Abu Dhabi 0.50 (9.1) 15,505.6 6.4
Abu Dhabi Nat. Ins. Abu Dhabi 2.10 (6.7) 139.8 (27.1)
Saudi Print. & Pack. Co. Saudi Arabia 17.46 (3.5) 5,145.4 (33.6)
Saudi Real Estate Co. Saudi Arabia 20.28 (3.2) 569.5 (11.7)
Al Khalij Com. Bank Qatar 17.21 (2.8) 24.8 (4.2)
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%
Al Khalij Commercial Bank 17.21 (2.8) 24.8 (4.2)
Doha Bank 33.25 (2.2) 203.1 (25.3)
Qatar First Bank 9.93 (1.9) 523.3 (33.8)
Qatar Insurance Co. 82.10 (1.8) 56.0 18.1
Dlala Brokerage & Inv. Holding 20.72 (1.3) 3.8 12.1
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Al Meera Consumer Goods Co. 162.00 0.6 68,376.4 (26.4)
Industries Qatar 104.00 2.5 48,186.6 (6.4)
Commercial Bank 33.00 4.4 21,171.9 (28.1)
QNB Group 152.10 0.1 16,982.4 4.3
Vodafone Qatar 9.65 1.6 13,626.8 (24.0)
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* 9,774.98 0.3 (1.9) (3.9) (6.3) 68.51 145,131.9 14.2 1.5 4.1
Dubai 3,309.79 1.4 1.1 (0.7) 5.0 348.46 86,576.7 10.9 1.2 4.2
Abu Dhabi 4,292.08 0.0 0.2 (0.2) (0.4) 54.17 113,640.4 11.1 1.4 5.7
Saudi Arabia 6,628.88 (0.3) 1.5 10.3 (4.1) 1,140.40 411,423.3 15.7 1.5 3.5
Kuwait 5,511.74 0.3 0.6 2.0 (1.8) 46.17 83,664.6 18.8 1.0 4.3
Oman 5,496.05 0.0 1.4 0.3 1.7 4.53 22,381.3 10.4 1.1 5.2
Bahrain 1,180.26 1.0 1.7 2.7 (2.9) 2.59 18,376.7 9.7 0.4 4.8
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)
9,700
9,750
9,800
9,850
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 0.3% to close at 9,775.0. The Transportation and
Industrials indices led the gains. The index rose on the back of buying
support from Qatari shareholders despite selling pressure from GCC and
non-Qatari shareholders.
 Commercial Bank and Industries Qatar were the top gainers, rising 4.4%
and 2.5%, respectively. Among the top losers, Al Khalij Commercial Bank
fell 2.8%, while Doha Bank was down 2.2%.
 Volume of shares traded on Thursday fell by 42.7% to 6.0mn from 10.5mn
on Wednesday. Further, as compared to the 30-day moving average of
6.8mn, volume for the day was 11.6% lower. Vodafone Qatar and
Commercial Bank were the most active stocks, contributing 23.5% and
10.9% to the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases and Global Economic Data
Earnings Releases
Company Market Currency
Revenue (mn)
3Q2016
% Change
YoY
Operating Profit
(mn) 3Q2016
% Change
YoY
Net Profit
(mn) 3Q2016
% Change
YoY
Afkar S&P UAE UCITS ETF Dubai AED – – – – 0.1 –
Renaissance Services* Oman OMR 156.9 -12.4% 28.5 -20.2% -5.2 –
Dhofar Insurance Oman OMR 10.6 -21.5% 0.9 -2.8% 0.3 -41.8%
Source: Company data, DFM, ADX, MSM (*9M2016 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
11/17 US Bureau of Labor Statistics CPI MoM October 0.4% 0.4% 0.3%
11/17 US Bureau of Labor Statistics CPI YoY October 1.6% 1.6% 1.5%
11/17 US Department of Labor Initial Jobless Claims November-12 235k 257k 254k
11/17 US Department of Labor Continuing Claims November-05 2,043k 2,030k 2,041k
11/17 EU Eurostat CPI MoM October 0.2% 0.3% 0.4%
11/17 EU Eurostat CPI YoY October 0.5% 0.5% 0.4%
11/17 Germany Federal Statistical Office PPI MoM October 0.7% 0.2% -0.2%
11/17 Germany Federal Statistical Office PPI YoY October -0.4% -0.9% -1.4%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 33.93% 46.37% (31,029,911.66)
Qatari Institutions 28.83% 9.09% 49,232,768.43
Qatari 62.76% 55.46% 18,202,856.77
GCC Individuals 2.66% 0.91% 4,357,067.70
GCC Institutions 9.51% 11.88% (5,918,096.44)
GCC 12.17% 12.79% (1,561,028.74)
Non-Qatari Individuals 6.92% 7.31% (975,931.53)
Non-Qatari Institutions 18.16% 24.44% (15,665,896.50)
Non-Qatari 25.08% 31.75% (16,641,828.03)

3. Page 3 of 6
News
Qatar
 QATI considers capital-boosting bond – According to sources Qatar
Insurance Co. (QATI) plans a bond issue to boost its capital
reserves. It would be the first perpetual bond to be issued by the
insurance sector in the Gulf region. Qatar's largest insurer by
market value has chosen HSBC and BNP Paribas to arrange a series
of meetings with fixed income investors. The offering is expected
to be of benchmark size, which is traditionally understood to mean
upwards of $500mn, said one of the sources. (Reuters)
 UDCD to hold its AGM on March 13 – United Development Company
(UDCD) announced as per the approval of Ministry of Economy
and Commerce, UDCD Annual General Assembly Meeting (AGM)
determined to be convened on March13, 2017. If the quorum is not
achieved a second meeting will be convened on March 20, 2017 at
the same time and venue. (QSE)
 Moody’s: Qatar real GDP growth to average 3.1% in 2016-2020 –
According to Moody’s, a global credit rating agency, Qatar’s overall
real (inflation-adjusted) economic growth will average 3.1% from
2016 to 2020, half the average expansion during 2011-15. The
overall economic slowdown comes in the wake of fiscal
consolidation, in response to oil price shocks, which will weigh on
the non-hydrocarbon sectors, Moody’s said in semi-annual credit
opinion update on Qatar. Although the government’s focus on
infrastructure projects and public investment in the run-up to the
FIFA World Cup 2022 would support real GDP growth over the
next four years, the dominant share of hydrocarbons, which
accounted for more than 50% of nominal GDP up until 2015,
renders the economy “vulnerable” to oil price swings, it said. Real
GDP rose 1.7% YoY during 1H2016, markedly lower than 3.3% in
the year-ago period. (Gulf-Times.com)
 Doha Bank CEO: Qatar, Japan can synergize ties in non-hydrocarbon
sector – Doha Bank CEO Dr R Seetharaman said Qatar and Japan
can synergize relationships in the non-hydrocarbon sector, he also
noted that bilateral trade between the two countries exceeded
$17bn in 2015. Speaking at the forum “Bilateral Opportunities
between Japan and GCC” hosted by Doha Bank in Tokyo,
Seetharaman said Japanese companies are broadly engaged in the
construction of infrastructure projects in preparation for Qatar’s
hosting of the 2022 FIFA World Cup. He said Japanese construction
companies have been awarded contracts in Qatar worth more than
$2.1bn in the last 10 years. Seetharaman said in February 2015,
Japanese Prime Minister Shinzo Abe and HH the Emir Sheikh
Tamim bin Hamad al-Thani attended the signing of a tax treaty and
memoranda of cooperation “signifying close friendship of the two
countries.” Seetharaman said, “The $100mn fund was launched as
per a generous initiative by the HH the Father Emir Sheikh Hamad
bin Khalifa al-Thani. The fund is supporting several sectors such as
fisheries, healthcare, education, technology, scientific research,
and entrepreneurship.” (Gulf-Times.com)
 Envoy sees significant role for private sector to strengthen Qatar,
China trade relations – Chinese Ambassador Li Chen said the
private sector will play a significant role in increasing Qatar and
China’s trade volume, which dropped in 2014 due to low oil prices.
Though the impact of low oil prices, the Ambassador said Qatar
and China are “looking towards enhancing cooperation ties” by
staging exhibitions like ‘Made in China’, organized by private
sector leader Qatar Chamber and the China International Center
for Economic and Technical Exchanges. The official said, “Due to
low oil & gas prices, both parties have faced difficulties but the
governments of Qatar and China have agreed to seek ways to
expand areas of cooperation. Qatar-China trade has experienced
rapid development and has made great strides, but there is more
that needs to be done. Through efforts like the ‘Made in China’
exhibition, both governments aim to strengthen trade ties, and
both sides have expressed the desire to promote economic and
trade cooperation by giving the private sector a bigger role.” (Gulf-
Times.com)
 Ministry: Visitors generated QR54.6bn income in 2015 – Official
figures showed the income derived from services to ‘non-
residents’ (visitors) in Qatar amounted to QR54.6bn in 2015, up
from QR11bn in 2010, with an average annual growth of 44.9%.
The findings of an analytical report prepared by the Ministry of
Economy and Commerce (MEC) on the “Competitive perspectives
of Qatari economy and its promising sectors and activities” were
released. The report showed a “considerable growth” in the role of
service activities in supporting national exports, which enhances
Qatar’s economic growth and the country’s balance of payment
with the rest of the world. The income from non-residents
(visitors to the country) mainly in transportation and tourism, has
“rapidly grown” within the last four years, amounting to QR54.6bn
last year. In particular, the income from the transportation sector
in this category has grown more than fourfold within the last five
years, amounting to QR27bn in 2015, up from around QR6.4bn in
2010. (Gulf-Times.com)
 Al-Sada: Natural gas ‘clean premium’ key to fighting climate change
– HE the Minister of Energy and Industry, Dr Mohamed bin Saleh
al-Sada said in Doha Natural gas with its “clean premium” has
greater relevance at a time when the world’s attention was
focused on fighting climate change. The demand for natural gas
would have grown 1.6% by the year-end, although at a slower pace
than in 2015, when it grew 1.9%, al-Sada said at the opening
session of the 18th Ministerial Meeting of the Gas Exporting
Countries Forum (GECF). Natural gas demand in 2014 grew at
0.8%, he pointed out. Al-Sada said the supply side developments,
however, is shaping new dynamics and trends in the markets and,
as a result, is set to create a new environment of competitiveness.
(Gulf-Times.com)
 Ooredoo unveils security services portfolio – Ooredoo announced
the launch of its unified Managed Security Services portfolio,
which offers the most comprehensive suite of security services
available in Qatar, supported by world-class global security
partners. The Managed Security Services portfolio is being made
available via the Qatar Data Center, Ooredoo's state-of-the-art
facility that protects companies and organizations in Qatar with
around-the-clock protection against breaches and cyber-attacks.
(Qatar Tribune)
International
 US inflation, labor market data bolster Fed December rate hike – US
consumer prices recorded their biggest increase in six months in
October on rising gasoline costs and rents, suggesting a pickup in
inflation that potentially clears the way for the Federal Reserve to
raise interest rates in December. Prospects for a rate hike next
month also got a boost from other data showing first-time
applications for unemployment benefits tumbling to a 43-year low
last week and housing starts surging to a nine-year high in
October. The reports painted an upbeat picture of the economy
early in the fourth quarter and came as Fed Chair Janet Yellen told
lawmakers that the US central bank could lift borrowing costs
relatively soon. (Reuters)
 Hammond to boost UK infrastructure with plan to unsnarl roads –
Philip Hammond in his first budget statement as UK Chancellor of
the Exchequer will set out an investment plan to boost
productivity, including a $1.6bn program to improve British roads.
As the government prepares to publish its industrial strategy in
coming weeks, the chancellor will announce in his first Autumn
Statement planned spending for infrastructure and innovation, as

4. Page 4 of 6
well as measures to help working families struggling to make ends
meet. Hammond also will unveil a new fiscal framework that will
let the government respond to potential economic shocks as
Britain negotiates its exit from the European Union. (Bloomberg)
 Broadbent: Inflation pressure limits BoE response to jobless rise –
Deputy Governor Ben Broadbent said that the Bank of England
would be able to do more to counter a projected rise in
unemployment were it not for a sharp increase in inflation
pressure caused by sterling's fall since June's Brexit vote.
Broadbent highlighted the trade-off the BoE faces between
keeping significant inflation pressures under control without
hurting employment. Broadbent said, “It would be able to do more
prevent any rise in unemployment if it weren't for the inflationary
pressure brought about by the fall in the currency." (Reuters)
 German exports to UK, US fall sharply in 3Q2016 – According to
data from the Federal Statistics Office, German exports to Britain
and the United States dropped sharply in 3Q2016. Exports to
Britain, Germany's third-largest export market, were down 4.7%
in 3Q2016 as compared to 2015, when they rose by some 11% in
3Q2016. Exports to the United States, Germany's biggest trading
partner, fell by 10.5% YoY in 3Q2016. They also fell by 6.3% in
9M2016. Germany has been relying on private consumption and
increased state spending for growth, which have replaced exports
as the main economic engines. According to Germany's DIHK
Chambers of Industry and Commerce, for the whole of 2016
exports to the US are expected to have fallen by 7%. (Reuters)
 Japan October exports, core CPI seen falling again on strong yen –
Japan's exports likely fell for a 13 straight month in October, while
core consumer prices probably slipped for a eight month in a row
due to a strong yen, a Reuters poll showed, casting doubt on hopes
for a sustainable economic recovery. Exports were expected to
have declined 8.6% in the year to October while imports may have
fallen 16.3%, according to the poll of 21 economists. That would
result in a trade surplus of 615.4bn yen ($5.56bn) in October, the
poll showed, up from a revised 497.6bn yen surplus the previous
month. (Reuters)
 China’s home-price growth slows as home curbs start to bite –
China’s runaway property market cooled slightly in October, as
authorities rolled out further home-buying curbs to deflate a
housing bubble. According to the National Bureau of Statistics,
new-home prices, excluding government-subsidized housing,
gained in September in 62 of the 70 cities tracked by the
government, compared with 63 in September. Prices dropped in
seven cities, compared with six in September. (Bloomberg)
Regional
 Spanish firms reach deal with KSA over Mecca-Medina rail link – A
Spanish consortium which is building a high-speed rail link
between Mecca and Medina has reached a preliminary deal with
Saudi Arabia to finalize the works after a series of delays and
setbacks. The consortium's contract to construct and maintain the
Haramain railway is valued at $7.11bn. Saudi Arabia’s government
still has to ratify the agreement and under the agreement the
state-owned Saudi Railways Organization has to pay the
consortium €150mn in compensation for additional costs on the
project. (Bloomberg)
 KSA Fawaz Alhokair closes in on loan for $1.1bn Arab Bank stake
buy – Saudi Arabia's Fawaz Alhokair family aims to secure funding
by next week to buy Saudi Oger's 20.93% stake in Arab Bank in a
deal likely to be worth around $1.1bn. The final group of lenders
has yet to be finalized for the deal, which has been agreed between
the two companies subject to financing being secured by next
week's deadline. (Bloomberg)
 KSA boosts September oil exports to 7.81mn bpd – According to
sources, Saudi Arabia's crude oil exports rose to 7.812mn barrels
per day (bpd) in September as the world's top oil exporter
increased shipments by 507,000 bpd versus August. OPEC is in
talks with major non-OPEC producers in a bid to gain support for a
global deal agreed on September to limit supply and help to
balance the market. Saudi Arabia produced 10.650mn bpd in
September, little changed from August's 10.63mn bpd.
(Bloomberg)
 Swiss International announces 2 hotels in Riyadh and strengthens
its footprint in Saudi Arabia – Gearing up to boost its presence in
Saudi Arabia, Swiss International proudly announces the arrival of
its first 2 hotels in Riyadh. The chain will be entering the capital
city with Swiss International Royal Hotel and Swiss Spirit Hotel &
Suites Metropolitan contributing to 4 hotels of the brand in Saudi
Arabia. The 60 room upscale hotel Swiss International Royal Hotel
is strategically located on the King Fahed Road along Al Sahafa
district which is home to several major commercial centers and
consulates along with a number of local traditional markets. The
proximity of the hotel to these business drivers makes it an ideal
venue for the high-end domestic and business travelers,
government officials and diplomats. (Bloomberg)
 Etihad, Airbus to develop A380 MRO services – Etihad Airways
Engineering and Airbus have signed a Memorandum of
Understanding (MOU) to work jointly on the development of a
new A380 MRO (maintenance, repair and operations) services
offering in Abu Dhabi, UAE. With this partnership Airbus and
Etihad Airways Engineering will combine their respective skills to
offer the market a value-adding MRO service solution for
worldwide A380 operators, starting in 2017. The partnership aims
to establish A380 Maintenance, Engineering and Upgrades
capabilities in Abu Dhabi to provide third-party support for
airlines’ A380 fleets by providing them with efficient turnkey
solutions. (Bloomberg)
 GFH Appoints Hammad Younas as Head of Investment Management
– GFH Financial Group (GFH) has appointed Mr. Hammad Younas
as its Head of Investment Management. In this capacity, Mr.Younas
will manage the overall investment business of the bank including
Asset Management, Private Equity and Corporate Investments.
(DFM)
 Abu Dhabi Fund for Development loans AED147mn to Morocco for
high-speed rail link – Abu Dhabi Fund for Development has agreed
to give loan worth AED147mn to the Moroccan national rail
operator to build a high-speed railway between Tangier and
Kenitra. The fund has signed a concessionary loan agreement
worth the amount with the Office Nationale des Chemins de Fer du
Maroc (ONCFM) to finance the construction. The loan follows
ADFD’s first installment of AED368mn released in 2010 and the
latest installment will be used to finance the launch of a 200km
long, 320kph high-speed railway that will connect both cities by
2018. (Bloomberg)
 Water, electricity to cost more in Abu Dhabi – The Abu Dhabi Water
and Electricity Authority (ADWEA), through its two subsidiaries
the Abu Dhabi Distribution Company (ADDC) and Al Ain
Distribution Company (AADC), has announced revised water and
electricity tariffs effective from January 1, 2017. The authority said
that the amended tariff reflects the actual cost of supplying water
and electricity to all categories of customers in the Emirate, in line
with the policy of natural resources conservation in place. ADDC
and AADC earlier launched the Demand Side Management (DSM)
program, 'Tarsheed' (Conservation and Efficient Use of Water and
Electricity), to help their customers use water and electricity
resources efficiently. (Bloomberg)
 IMF urges further Kuwait subsidy reforms – International
Monetary Fund said that Kuwait must enact further subsidy
reforms to trim its budget deficit resulting from low oil prices

5. Page 5 of 6
despite political sensitivity. Posting its first budget shortfall of
$15bn last fiscal year following 16 years of surpluses, OPEC
member Kuwait has adopted a series of austerity measures raising
the prices of fuel, power and water. The Gulf state liberalized
diesel and kerosene prices in 2015 and recently hiked the cost of
petrol, causing a political crisis that led to parliament being
dissolved and calls for a snap election. IMF added that Kuwait will
need a massive $116bn to finance its deficit over the next six years.
(GulfBase.com)
 Kuwait to renew contract to supply crude oil to Egypt – According
to sources, Kuwait renewed a contract to supply Egypt with crude
oil for the next three years. Egypt will get 2mn barrels of Kuwaiti
crude a month starting January 1. The contract is for three years
and the supplies will be based on international prices. Saudi
Arabian Oil Co., (Saudi Aramco), has halted shipments of oil
products to Egypt since October, forcing the Arab world’s most
populous nation to buy fuels on world markets at higher cost.
(Bloomberg)

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 Co. WLL One Person Company
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. WLL One Person Company (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange QNB SAQ 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. QNBFS accepts no liability
whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically engaged
investment 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. 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. For reports dealing with Technical Analysis, expressed opinions and/or
recommendations may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume).
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
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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
Oct-12 Oct-13 Oct-14 Oct-15 Oct-16
QSEI ndex S& PPanA r ab S& PGCC
(0.3%)
0.3% 0.3%
1.0%
0.0% 0.0%
1.4%
(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 1,207.93 (0.7) (1.6) 13.8 MSCI World Index 1,697.35 (0.6) 0.0 2.1
Silver/Ounce 16.56 (0.7) (4.7) 19.5 DJ Industrial 18,867.93 (0.2) 0.1 8.3
Crude Oil (Brent)/Barrel (FM Future) 46.86 0.8 4.7 25.7 S&P 500 2,181.90 (0.2) 0.8 6.7
Crude Oil (WTI)/Barrel (FM Future) 45.69 0.6 5.3 23.4 NASDAQ 100 5,321.51 (0.2) 1.6 6.3
Natural Gas (Henry Hub)/MMBtu 2.58 10.5 27.2 11.6 STOXX 600 339.39 (0.8) (2.0) (9.6)
LPG Propane (Arab Gulf)/Ton 52.38 2.9 0.7 36.5 DAX 10,664.56 (0.7) (2.6) (3.7)
LPG Butane (Arab Gulf)/Ton 69.63 1.8 1.5 26.3 FTSE 100 6,775.77 (1.0) (1.4) (9.1)
Euro 1.06 (0.4) (2.5) (2.5) CAC 40 4,504.35 (1.0) (2.2) (5.4)
Yen 110.91 0.7 4.0 (7.7) Nikkei 17,967.41 (0.2) (0.5) 2.8
GBP 1.23 (0.6) (2.0) (16.2) MSCI EM 844.53 (0.3) (0.5) 6.3
CHF 0.99 (0.3) (2.2) (0.8) SHANGHAI SE Composite 3,192.86 (0.6) (1.3) (15.0)
AUD 0.73 (0.9) (2.8) 0.7 HANG SENG 22,344.21 0.4 (0.8) 1.9
USD Index 101.21 0.3 2.2 2.6 BSE SENSEX 26,150.24 (0.6) (3.2) (2.7)
RUB 64.98 0.2 (1.3) (10.4) Bovespa 59,961.76 1.5 1.6 61.5
BRL 0.30 1.1 0.2 17.1 RTS 990.77 (0.5) 2.1 30.9
114.7
99.7
95.9