1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index gained marginally to close at 9,399.3. Gains were led by the Real
Estate and Insurance indices, gaining 1.6% and 0.3% respectively. Top gainers
were United Development Co. and Gulf International Services, rising 3.7% and
3.1% respectively. Among the top losers, Mannai Corp fell 4.6%, while Qatar
Gas Transport Co. declined 1.5%.
GCC Commentary
Saudi Arabia: The TASI index declined 0.6% to close at 7,699.0. Losses were
led by the Banking & Financial Services and Real Estate Development indices,
declining 0.9% each. Halwani Bros fell 4.7%, while Najran Cement Co. was
down 2.8%.
Dubai: The DFM index rose 0.7% to close at 2,457.3. The Telecommunication
index gained 4.2%, while the Transportation index was up 2.8%. Al Salam
Bank – Bahrain rose 5.7%, while Air Arabia was up 5.1%.
Abu Dhabi: The ADX benchmark index gained 0.8% to close at 3,767.4. The
Energy index rose 1.3%, while the Real Estate index was up 0.9%. Ras Al
Khaimah Poultry & Feeding Co. surged 15.0%, while National Bank of Ras Al-
Khaimah was up 5.6%.
Kuwait: The KSE index fell 0.8% to close at 7,819.9. Losses were led by the
Real Estate and Telecommunication indices, declining 2.0% and 1.4%
respectively. Aqar Real Estate Investments Co. fell 8.3%, while The Energy
House Co. was down 7.9%.
Oman: The MSM index gained 0.7% to close at 6,564.3. The Banking &
Investment index rose 1.0%, while the Industrial index was up 0.5%. Global
Financial Investment gained 5.2%, while Al Hassan Engineering was up 4.9%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
United Development Co. 22.84 3.7 845.6 28.3
Gulf International Services 43.45 3.1 198.8 44.8
Qatar Electricity & Water Co. 158.50 1.6 22.6 19.7
Qatar Fuel Co. 257.10 0.7 34.5 16.9
Qatar Insurance Co. 61.40 0.5 45.6 13.8
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. 18.23 (1.5) 969.4 19.5
United Development Co. 22.84 3.7 845.6 28.3
Gulf International Services 43.45 3.1 198.8 44.8
Industries Qatar 161.00 (1.0) 193.9 14.2
Barwa Real Estate Co. 27.30 0.4 160.0 (0.5)
Market Indicators 15 July 13 14 July 13 %Chg.
Value Traded (QR mn) 141.8 126.4 12.2
Exch. Market Cap. (QR mn) 515,719.3 516,394.8 (0.1)
Volume (mn) 3.6 3.2 13.3
Number of Transactions 2,074 1,859 11.6
Companies Traded 37 38 (2.6)
Market Breadth 10:18 15:16 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,429.45 0.0 (0.2) 18.7 N/A
All Share Index 2,375.43 (0.1) (0.2) 17.9 12.8
Banks 2,259.79 (0.2) (0.7) 15.9 11.9
Industrials 3,137.12 (0.4) 0.2 19.4 11.7
Transportation 1,665.94 (0.7) (0.6) 24.3 11.9
Real Estate 1,869.69 1.6 1.4 16.0 11.9
Insurance 2,238.54 0.3 0.6 14.0 15.7
Telecoms 1,312.52 (0.1) (1.1) 23.2 15.0
Consumer 5,539.01 0.2 0.4 18.6 22.6
Al Rayan Islamic Index 2,818.87 0.1 0.0 13.3 14.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
RAKBANK Abu Dhabi 6.60 5.6 331.0 76.9
DP World Ltd Dubai 16.60 5.4 129.0 41.9
Air Arabia Dubai 1.23 5.1 121,506.5 47.3
Emirates Int. Telecom. Dubai 6.50 4.2 3,967.8 86.2
Union National Bank Abu Dhabi 5.05 3.7 2,714.7 74.7
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Mannai Corp Qatar 84.80 (4.6) 0.0 4.7
Najran Cement Co. Saudi Arabia 27.70 (2.8) 1,757.8 46.6
Aseer Saudi Arabia 18.85 (2.3) 817.8 13.9
Al Rajhi Bank Saudi Arabia 74.00 (2.3) 1,385.9 13.8
Saudi Int. Petrochem. Saudi Arabia 23.50 (2.1) 382.7 23.0
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Mannai Corp 84.80 (4.6) 0.0 4.7
Qatar Gas Transport Co. 18.23 (1.5) 969.4 19.5
Qatar German Co. for Med. Dev. 15.79 (1.3) 12.8 6.8
Salam International Inv. Co. 12.90 (1.1) 53.7 1.9
Al Meera Consumer Goods Co. 133.50 (1.1) 15.1 9.1
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 161.00 (1.0) 31,372.4 14.2
United Development Co. 22.84 3.7 18,816.1 28.3
Qatar Gas Transport Co. 18.23 (1.5) 17,704.7 19.5
Qatar Fuel Co. 257.10 0.7 8,899.2 16.9
Gulf International Services 43.45 3.1 8,537.8 44.8
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* 9,399.30 0.0 (0.2) 1.3 12.4 38.93 141,565.0 11.8 1.7 4.9
Dubai 2,457.30 0.7 2.7 10.6 51.4 194.57 62,148.3 15.8 1.0 3.3
Abu Dhabi 3,767.39 0.8 1.7 6.1 43.2 76.14 108,558.5 11.3 1.4 4.6
Saudi Arabia 7,699.02 (0.6) 0.1 2.7 13.2 1,042.39 409,851.1 16.2 2.0 3.7
Kuwait 7,819.85 (0.8) (0.8) 0.6 31.8 58.17 108,614.3 21.8 1.2 3.6
Oman 6,564.25 0.7 1.1 3.6 13.9 28.96 22,819.4 10.8 1.7 4.2
Bahrain 1,187.08 0.1 (0.2) (0.1) 11.4 2.19 21,213.1 8.7 0.8 4.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,380
9,390
9,400
9,410
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 QE index gained marginally to close at 9,399.3. 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.
 United Development Co. and Gulf International Services were
the top gainers, rising 3.7% and 3.1% respectively. Among the
top losers, Mannai Corp fell 4.6%, while Qatar Gas Transport
Co. declined 1.5%.
 Volume of shares traded on Monday rose by 13.3% to 3.6mn
from 3.2mn on Sunday. However, as compared to the 30-day
moving average of 9.1mn, volume for the day was 60.7% lower.
Qatar Gas Transport Co. and United Development Co. were the
most active stocks, contributing 27.0% and 23.6% to the total
volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Ratings, Earnings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
National Bank of
Abu Dhabi (NBAD)
CI
Abu
Dhabi
FSR/ LT FCR/ ST FCR/
SR
A+/AA-/A1+/1 A+/AA-/A1+/1 – Stable –
Gulf Investment
Corporation (GIC)
Fitch Kuwait
LT IDR/ ST IDR/ VR/
SR
BBB/F3/bb-/2 BBB/F3/bb/2 * Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, ICR – Issuer Credit Rating, SR – Support Rating, VR -
Viability Rating) (*Rating upgrade for VR)
Earnings Releases
Company Market Currency
Revenue
(mn) 2Q2013
% Change
YoY
Operating Profit
(mn) 2Q2013
% Change
YoY
Net Profit (mn)
2Q2013
% Change
YoY
The National Shipping Co.
(Bahri)
Saudi Arabia SR – – 121.6 (16.3%) 132.5 (36.0%)
Saudi Hotels & Resort Areas
Co. (SHARACO)
Saudi Arabia SR – – 33.8 (6.9%) 36.5 2.1%
Saudi Kayan Petrochemical
Co. (Saudi Kayan)
Saudi Arabia SR – – (106.6) (34.3%) (238.2) (27.4%
Saudi Paper Manufacturing
Co. (Saudi Paper)
Saudi Arabia SR – – 27.1 (11.4%) 9.3 (64.6%)
Saudi Arabia Refineries Co.
(SARCO)
Saudi Arabia SR – – 14.9 (8.0%) 14.2 (8.0%)
Food Products Co. (wafrah) Saudi Arabia SR – – 3.2 (22.7%) 2.6 (25.2%)
Saudi Cement Co. Saudi Arabia SR – – 316.0 7.5% 307.0 5.9%
Halwani Bros (HB) Saudi Arabia SR – – 31.3 2.0% 21.9 (3.9%)
Al Sharqia Investment
Holding (ASIH)
Oman OMR 1.1 11.9% – – 0.6 (1.8%)
Source: Company data, Tadawul
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
07/15 US US Census Bureau Advance Retail Sales June 0.40% 0.80% 0.50%
07/15 US US Census Bureau Business Inventories May 0.10% 0.00% 0.20%
07/15 UK Rightmove Rightmove House Prices (MoM) July 0.30% – 1.20%
07/15 UK Rightmove Rightmove House Prices (YoY) July 4.80% – 2.70%
07/15 China National Bureau of Stat. Real GDP YTD (YoY) 2Q2013 7.60% 7.70% 7.70%
07/15 China National Bureau of Stat. GDP YoY 2Q2013 7.50% 7.50% 7.70%
07/15 China National Bureau of Stat. Real GDP (QoQ) 2Q2013 1.70% 1.80% 1.60%
07/15 China National Bureau of Stat. Industrial Production YTD YoY June 9.30% 9.30% 9.40%
07/15 China National Bureau of Stat. Industrial Production (YoY) June 8.90% 9.10% 9.20%
07/15 China National Bureau of Stat. Retail Sales YTD YoY June 12.70% 12.70% 12.60%
07/15 China National Bureau of Stat. Retail Sales (YoY) June 13.30% 12.90% 12.90%
07/15 China National Bureau of Stat. Business Climate Index 2Q2013 120.6 – 125.6
07/15 China National Bureau of Stat. Entrepreneur Confidence Index 2Q2013 117.0 – 122.4
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 63.10% 64.55% (2,062,380.32)
Non-Qatari 36.91% 35.45% 2,062,380.32

3. Page 3 of 6
News
Qatar
 Nakilat’s 2Q2013 results come in below our estimate;
maintain Market Perform rating with QR18.10 price target.
Nakilat reported lower-than-expected 2Q2013 results with: (1)
Revenue from wholly-owned vessels falling 4% short of our
estimate at QR742mn (almost -1% QoQ, flattish YoY) with the
sequential decline driven by lower recoupment of operating
costs (sequentially, overall operating costs declined by
~QR12mn vs. ~QR4mn decline in revenue). (2) EBITDA of
QR581mn also fell below our estimate of QR600mn. (3)
Adjusted EBITDA of QR668mn (flat QoQ, -4% YoY) was 5%
below our estimate of QR704mn driven primarily by lower-than-
expected EBITDA and interest, vessel sub-chartering and other
income. (4) Net income of QR182mn (+3% QoQ, -11% YoY)
was also impacted by QR3mn in losses from derivative
instruments in JVs, which we do not model. Excluding this, net
income was 13% softer than our estimate of QR212mn. Given
the company’s 1H2013 financial performance, we are likely to
revise our 2013 full year estimates downward. (QE, QNBFS
Research)
 QIBK’s 2Q2013 net profit broadly in line with our
expectations. Qatar Islamic Bank (QIBK) posted a net profit (to
equity) of QR338.9mn in 2Q2013 vs. our estimate of
QR335.2mn (Bloomberg consensus: QR328mn). Net income
increased 16.4% QoQ but slipped by 2.9% YoY. Profitability was
driven by net financing income (+3.3% QoQ). Moreover, income
from investing activities (QR202.7mn) expanded by 6.1% and
15.7% QoQ and YoY, respectively. Fees & commissions
expanded by 46.5% QoQ. Furthermore, a 28.4% QoQ drop in
provisions for financial investments significantly aided the bank
in achieving growth in 2Q2013. The loan book and deposit book
expanded QoQ. QIBK’s loan book expanded by 9.3% QoQ (-
4.1% YTD). Equity of unrestricted investment account holders
followed suit and gained by 7.5% QoQ (-3.2% YTD). We
maintain our estimates for 2013 and our target price remains at
QR74.96. We expect the bank to post EPS of QR6.32 and
QR6.71 for 2013 and 2014, respectively. On the DPS front, we
expect the bank to pay a cash DPS of QR4.50 and 4.75 for 2013
and 2014, respectively. (QE, QNBFS Research)
 QIIK reports QR366mn net profit in 1H2013 – Qatar
International Islamic Bank (QIIK) has reported a net profit of
QR181mn in 2Q2013 bang in line with our estimates, indicating
a QoQ decrease of 2.2%. EPS amounted to QR2.42 in 1H2013
compared with QR2.25 in 1H2012. QIIK’s net operating income
rose by 16% YoY to QR675mn in 1H2013. The bank’s total
assets stood at QR31.4bn in June 2013 as compared to
QR23.7bn in June 2012, indicating a growth of 33%. The bank’s
financing portfolio grew to QR16.7bn in 1H2013 compared with
QR11.2bn in 1H2012. Deposits totaled at QR22.6bn in 1H2013,
representing 29% YoY growth. (Gulf-Times.com, QNBFS
Research)
 IHGS posts QR4.4mn net profit in 1H2013 – The Islamic
Holding Group (IHGS) posted a net profit of QR4.4mn in
1H2013 as compared with QR4.18mn in 1H2012. (Gulf-
Times.com)
 Egypt to sell $1bn bonds to Qatar in August – Egypt’s
outgoing Finance Minister Fayad Abdel Moneim said the
government is planning to issue the third tranche of $1bn bonds
to Qatar. (Bloomberg)
 S&P: Qatar banks have adequate asset quality – According
to a report by the S&P, the asset quality of Qatari banks is
adequate, with their non-performing loans (NPLs) remaining at
1.7% of total loans in 2012. The report said the ample loan loss
coverage (97% in 2012), along with an abundant general risk
reserve of 2.5% of the total loans give the banks an effective
cushion to face any rise in the cost of risk. S&P said it does not
expect NPLs to rise significantly though. S&P expects factors
such as the central bank’s more-stringent restrictions on
personal loans as well as the establishment of a credit bureau in
2012 will reduce the level of impaired loans in the retail
segment. Although Qatar’s banking regulations are in line with
the international standards, S&P feels that supervision has
some room for improvement. (Gulf-Times.com)
 QP, Occidental Petroleum to invest $3bn to upgrade
offshore field – Qatar Petroleum (QP) and Occidental
Petroleum Corp plan to spend more than $3bn to upgrade the
Idd El Shargi North Dome oil field located offshore Qatar.
Occidental said the Phase 5 development plan for the field
includes drilling over 200 water injection wells to improve water-
flooding practices in all the oil producing reservoirs. Occidental
said work has already begun and will continue to sustain oil
production levels at about 100,000 bpd, through the next six
years. (Reuters)
 QTA signs pact with UNWTO to boost tourism – The Qatar
Tourism Authority (QTA) has signed a 17-month agreement with
the United Nations World Tourism Organization (UNWTO) to
develop policies and strategies needed to sustain Qatar's
booming tourism into the future. The agreement will see
UNWTO update and create benchmarked processes within
QTA. Based on international benchmarks, both the UNWTO and
QTA will develop a consistent and locally relevant quality control
system across a wide range of tourism activities. (AME Info)
 Al Jazeera Sport acquires EPL's media rights for MENA
region – Arabian media network Al Jazeera Sport has
concluded an agreement with international sports rights agency,
MP & Silva to acquire the exclusive media rights to the Barclays
English Premier League (EPL) in the MENA region. The network
has signed a three-year deal, which begins next month with the
2013-14 season. (Qatar Tribune)
 Qatar Ministry prescribes 19 designs for new mosques in
Qatar – The Ministry of Awqaf & Islamic Affairs has approved 19
new designs for all the new mosques to be built in the country.
The construction of these new mosques will begin soon.
(Peninsula Qatar)
 QA to start flights to Ethiopia – Qatar Airways (QA) is set to
begin three flights a week to Ethiopia's capital city Addis Ababa
from September 18, 2013. (AME Info)
 IQCD to declare its semi-annual results on July 29 –
Industries Qatar Company (IQCD) is scheduled to disclose its
reviewed financial results for the period ending June 30, 2013
on July 29, 2013. (QE)
 KCBK to disclose its 1H2013 financials on July 30 – Al Khalij
Commercial Bank (KCBK) will disclose its reviewed financial
results for the period ending June 30, 2013 on July 30, 2013.
(QE)
International
 IMF: Deepening Spanish credit crunch could hit banks,
economy – The IMF said Spain's economic problems could
tempt its banks to cut lending further, but they need to resist this
and boost their capital ratios by cutting cash dividends or issuing
new shares instead. The fund said the lenders' solvency had
improved. The IMF has urged Spain to clarify its plans for some
state-controlled banks in order to avoid increasing the cost to

4. Page 4 of 6
taxpayers' if their business is hurt by any uncertainty. Further,
the fund added that Spain should consider helping its banks
boost their capital by changing the status of some deferred tax
assets, which will no longer be counted towards capital under
the new international Basel III norms. (Reuters)
 Hungary wants to repay IMF loan early – Hungary plans to
pay back its IMF loan early and has called on the fund to shut its
Budapest office in a symbolic move by the government to
display its economic sovereignty. In a letter to the IMF Managing
Director Christine Lagarde, Central Bank Chief Gyorgy Matolcsy
said Hungary is considering an early repayment of the
outstanding sums owed on the 2008 loan. Hungary is due to
repay the equivalent of €913mn to the IMF in the third and fourth
quarters of 2013 and another €299mn in 1Q2014. (Reuters)
Regional
 M&A transactions among Middle Eastern targets reach
$14.7bn in 1H2013 – According to a report released by
Thomson Reuters, the value of M&A transactions among Middle
Eastern targets reached $14.7bn during 1H2013, 30% higher
than the $11.3bn witnessed during 1H2012. The report found
that materials was the most targeted industry during 1H2013,
accounting for 64% of M&A activity, which was bolstered by the
$7.5bn merger of two UAE state-owned aluminum producers.
(AME Info)
 Barclays appoints wealth management head in MENA
region – Barclays has appointed Cedric Lizin as head of its
wealth & investment management division in the MENA region.
(Bloomberg)
 Saudi core inflation rises 3.5% YoY in June – According to
the data released by the Central Department of Statistics &
Information (CDSI), the Saudi consumer price index (CPI)
showed that prices have risen by 3.5% YoY in June as
compared with 3.8% in May. On MoM basis, prices increased
slightly by 0.2% as compared with 0.1% in May. Core inflation,
which excludes food, rental and housing-related services, has
maintained its downward trend for the fourth consecutive month,
falling 2.2% YoY in June as compared with 2.6% in May. Saudi
Arabia's cost of living index rose in June 2013 by 1.2% to reach
157.2 points compared to June 2012. The index for wholesale
prices fell by 0.3% from 157.6 to 157.2 points. (GulfBase.com)
 SASCO’s BoD decides not to sell its shares in TAQA –
Saudi Automotive Services Company’s (SASCO) board of
directors has decided to continue owning its shares in the
Industrialization & Energy Services Company (TAQA) due to
inadequate offers received for its sales. (Tadawul)
 Yanbu Cement’s BoD recommends SR315mn dividend for
1H2013 – Yanbu Cement Company’s board of directors has
recommended the distribution of dividends amounting to
SR315mn (SR2 per share), representing 20% of the face value,
to its shareholders for 1H2013. Shareholders registered in the
registers of the Securities Depository Center on July 16, 2013
will be eligible for the dividend. The dividend will be distributed
on July 29, 2013. (Tadawul)
 DSC: Dubai’s consumer prices rise 1.58% YoY in June –
According to the data released by the Dubai Statistics Center
(DSC), consumer prices in Dubai rose 1.58% YoY (+0.41%
MoM) in June. The data showed that inflation rate in Dubai rose
to record 0.66% YoY in 1H2013 due to an increase in prices of
goods & services. DSC noted that the increase was led by price
hikes in tobacco, education, furnishings, household equipment,
routine household maintenance, food & non-alcoholic
beverages, recreation & culture, transport, health and catering.
However, this rise was slightly offset by a decrease in costs of
clothing & footwear, miscellaneous goods & services,
communication, housing, water, electricity, gas, and other fuels.
(Bloomberg)
 UAE’s banks seek 5 years to comply with exposure rule –
Banks in the UAE are seeking a period of five years to comply
with a central bank regulation limiting their exposure to
government entities in the country. The UAE Banks Federation
said banks are seeking to exclude marketable bonds, sukuk
from the proposal, and to apply means & purpose test to
determine whether the large exposure regulation applies to an
entity. They also are considering a five-year term to fully comply
with these regulations. (Bloomberg)
 JLL: Real estate in Dubai gaining momentum – According to
a report released by Jones Lang LaSalle (JLL), Dubai’s real
estate market continued to improve with all sectors steady in a
recovery phase. The report said while for the office segment,
strong performance remains concentrated in the best quality
projects in prime locations, the residential and retail markets are
witnessing a more broad-based recovery. The hotel segment
has maintained its strong growth while industrial segment
continues to expand. Meanwhile, the Department of Economic
Development's Business Confidence Index (BCI) showed that
the business outlook for Dubai continues to be strong, standing
at 113 points during 1Q2013. Confidence is steadily rising and
companies continue to be upbeat with the latest survey
indicating that 91% of firms reported either an improvement or
stability in their business conditions. (Bloomberg)
 Emirates NBD, FGB provide AED900mn loan for Burj Al
Salam Towers in Dubai – Emirates NBD and Abu Dhabi-based
First Gulf Bank (FGB) have signed a deal for a loan facility worth
AED900mn to fund the construction of a three-tower real estate
project “Burj Al Salam Towers” by Abdulsalam Al Rafi Group.
(Reuters)
 Arabtec Construction awards AED233mn MEP contract to
DSI – Arabtec Construction has awarded Drake & Scull
International (DSI), a contract valued AED233mn to execute the
mechanical, electrical & plumbing (MEP) works for the Fairmont
Abu Dhabi Hotel & Serviced Apartments. DSI will mobilize work
on site immediately and is scheduled to complete all MEP works
by June 2015. (DFM)
 DDF re-prices $1.75bn financing facilities – Dubai Duty Free
(DDF) said it has cut margins on dirham and dollar commitments
of its $1.75bn facility arranged in 2012. DDF Executive Vice
Chairman Colm McLoughlin said its sales are on target to reach
$1.8bn in 2013 and expects them to grow to $3bn within the
next five years. (Bloomberg)
 Emirates to commence daily A380 service to Barcelona –
Emirates Airlines has announced it will commence a daily A380
service to Barcelona from February 1, 2014. (AME Info)
 Damac Properties launches golf condominiums in Dubai –
Damac Properties has launched its new golf condominiums
property, “AKOYA by Damac” in Dubai. (AME Info)
 Dubai Airports invites F&B, retail service bids for
Concourse D – Dubai Airports has invited bids from food &
beverage (F&B) operators and selective retail-service providers
to award concessions in Concourse D at Dubai International
Airport. Dubai Airports said the construction of Concourse D is
underway with the facility slated to open in 2015. (AME Info)
 NBF expects commercial banking to grow by 20-25% YoY –
The National Bank of Fujairah’s (NBF) Head of Commercial
Banking Rehan Ali said the bank expects its commercial
banking business will grow by 20-25% YoY over the next three

5. Page 5 of 6
years. The lender plans to target small and medium-sized
enterprises, to secure more business and is ready to support
companies and individuals through its tailor-made facilities.
(GulfBase.com)
 Omani Islamic lenders build counterparty network market
with wakala – Oman-based Islamic banks are building a
counterparty network for wakala, a Shari’ah-compliant agency
agreement, to use as a major tool for their interbank funding
needs. (Reuters)
 Renaissance to make $7.5mn from Topaz divestment –
Oman-based Renaissance Services’ CEO Stephen R. Thomas
said the company is set to make a capital gain of $7.5mn from
the divestment of Topaz Oil & Gas Ltd. (MSM)
 CBB’s weekly T-bills oversubscribed by 221% – The Central
Bank of Bahrain’s (CBB) this week’s issue of BHD35mn treasury
bills has been oversubscribed by 221%. These bills carry a
maturity of 91 days with a weighted average rate of interest at
0.69% as compared to 0.70% for the previous issue. (AME Info)

6. Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@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
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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
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QE Index S&PPan Arab S&P GCC
(0.6%)
0.0%
(0.8%)
0.1%
0.7% 0.8% 0.7%
(1.0%)
(0.5%)
0.0%
0.5%
1.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,284.57 (0.1) (0.1) (23.3) DJ Industrial 15,484.26 0.1 0.1 18.2
Silver/Ounce 19.98 0.2 0.2 (34.2) S&P 500 1,682.50 0.1 0.1 18.0
Crude Oil (Brent)/Barrel 109.36 (0.1) (0.1) (3.1) NASDAQ 100 3,607.49 0.2 0.2 19.5
Natural Gas (Henry
Hub)/MMBtu
3.66 1.4 1.4 6.4 STOXX 600 297.38 0.4 0.4 6.3
LPG Propane (Arab Gulf)/Ton 810.00 0.0 0.0 (16.4) DAX 8,234.81 0.3 0.3 8.2
LPG Butane (Arab Gulf)/Ton 807.00 0.0 0.0 (16.7) FTSE 100 6,586.11 0.6 0.6 11.7
Euro 1.31 (0.0) (0.0) (1.0) CAC 40 3,878.58 0.6 0.6 6.5
Yen 99.86 0.6 0.6 15.1 Nikkei 14,506.25 0.0 0.0 39.5
GBP 1.51 (0.0) (0.0) (7.1) MSCI EM 952.23 0.7 0.7 (9.8)
CHF 1.05 (0.2) (0.2) (3.5) SHANGHAI SE Composite 2,059.39 1.0 1.0 (9.2)
AUD 0.91 0.5 0.5 (12.5) HANG SENG 21,303.31 0.1 0.1 (6.0)
USD Index 83.04 0.1 0.1 4.1 BSE SENSEX 20,034.48 0.4 0.4 3.1
RUB 32.60 (0.1) (0.1) 6.8 Bovespa 46,738.90 2.6 2.6 (23.3)
BRL 0.45 2.1 2.1 (7.6) RTS 1,354.54 0.4 0.4 (11.3)
135.1
121.3
110.3