Qatar

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.7% to close at 12,605.5. Losses were led by the
Banks & Financial Services and Real Estate indices, falling 1.1% and 0.8%,
respectively. Top losers were Qatar Islamic Bank and Doha Insurance Co.,
falling 1.9% each. Among the top gainers, Aamal Co. and Qatar Industrial
Manufacturing Co. were up 2.9% each.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.3% to close at 9,439.4. Losses were led
by the Energy & Utilities and Petrochemical Industries indices, falling 6.5% and
1.0%, respectively. EPCCO fell 7.7%, while Saudi Electric. was down 6.7%.
Dubai: The DFM Index declined 3.2% to close at 3,834.6. The Consumer
Staples index fell 6.0%, while the Services index was down 4.8%. Mashreq
Bank declined 9.3%, while Al Salam Bank - Bahrain was down 7.4%.
Abu Dhabi: The ADX benchmark index fell 1.0% to close at 4,647.2. The
Energy index declined 5.0%, while the Real Est. index was down 3.4%.
Sharjah Cem. & Ind. Dev. fell 8.6%, while Arkan Building Mat. was down 7.3%.
Kuwait: The KSE Index declined 0.1% to close at 6,681.5. The Technology
index fell 0.9%, while the Real Estate index declined 0.8%. Union Real Estate
Co. fell 6.7%, while Kuwait Cable Vision was down 6.6%.
Oman: The MSM Index rose 0.3% to close at 6,694.0. Gains were led by the
Financial and Services indices, rising 0.4% and 0.3%, respectively. Bank
Nizwa gained 5.6%, while Onic. Holding was up 1.9%.
Bahrain: The BHB Index declined marginally to close at 1,440.5. The
Commercial Bank index fell 0.4%, while the other indices ended green and flat.
Al Salam Bank – Bahrain fell 5.0%, while Nass Corporation was down 2.2%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Aamal Co. 18.70 2.9 644.3 23.1
Qatar Industrial Manufacturing Co. 50.50 2.9 43.2 16.5
Medicare Group 148.00 2.8 173.5 26.5
Qatar Insurance Co. 93.70 2.5 53.8 3.4
Qatari Investors Group 41.40 2.0 119.1 0.0
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Qatar German Co for Medical Dev. 12.51 1.5 1,382.0 23.3
Vodafone Qatar 18.00 (1.4) 1,319.7 9.4
Barwa Real Estate Co. 48.50 (1.4) 762.7 15.8
Aamal Co. 18.70 2.9 644.3 23.1
Ezdan Holding Group 17.36 (0.5) 547.4 16.4
Market Indicators 16 Feb 15 15 Feb 15 %Chg.
Value Traded (QR mn) 437.3 625.6 (30.1)
Exch. Market Cap. (QR mn) 683,087.1 686,697.5 (0.5)
Volume (mn) 9.7 16.3 (40.7)
Number of Transactions 4,988 6,912 (27.8)
Companies Traded 40 42 (4.8)
Market Breadth 13:23 22:16 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,920.38 (0.7) (0.0) 3.3 N/A
All Share Index 3,262.39 (0.5) 0.1 3.5 15.4
Banks 3,269.27 (1.1) (0.3) 2.0 14.8
Industrials 4,034.79 0.1 0.2 (0.1) 13.8
Transportation 2,468.23 (0.4) (0.5) 6.5 14.4
Real Estate 2,561.88 (0.8) 0.6 14.1 20.8
Insurance 4,075.70 1.5 2.9 3.0 16.7
Telecoms 1,440.80 (0.5) (0.8) (3.0) 19.1
Consumer 7,514.38 0.5 1.2 8.8 29.2
Al Rayan Islamic Index 4,422.97 (0.1) 0.3 7.8 17.6
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Bank Nizwa Oman 0.09 5.6 4,142.8 17.5
Saudi British Bank Saudi Arabia 58.30 3.6 226.9 (0.1)
Makkah Const. & Dev. Saudi Arabia 90.71 3.4 599.1 15.3
Aamal Co. Qatar 18.70 2.9 644.3 23.1
Qatar Ind. Man. Co. Qatar 50.50 2.9 43.2 16.5
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Eastern Province Cem. Saudi Arabia 57.21 (7.7) 2,725.6 3.4
Saudi Electricity Co. Saudi Arabia 18.19 (6.7) 11,031.0 22.1
Dana Gas Abu Dhabi 0.46 (6.1) 28,264.2 (8.0)
Dubai Financial Market Dubai 2.03 (5.1) 16,559.8 1.0
Drake & Scull Int. Dubai 0.78 (4.4) 7,829.4 (13.2)
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%
Qatar Islamic Bank 105.00 (1.9) 82.1 2.7
Doha Insurance Co. 26.50 (1.9) 5.3 (8.6)
Islamic Holding Group 118.80 (1.8) 52.4 (4.6)
Gulf International Services 102.90 (1.8) 506.2 6.0
Qatar Oman Investment Co. 15.73 (1.6) 190.0 2.1
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Gulf International Services 102.90 (1.8) 52,357.1 6.0
Barwa Real Estate Co. 48.50 (1.4) 37,248.8 15.8
Industries Qatar 153.20 (0.2) 31,555.7 (8.8)
Qatar General Ins. and Reins. Co. 61.00 (0.5) 27,487.1 3.4
Widam Food Co. 63.00 (0.6) 25,957.6 4.3
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 12,605.46 (0.7) (0.0) 5.9 2.6 120.09 187,575.7 15.7 2.0 3.8
Dubai 3,834.56 (3.2) (1.8) 4.4 1.6 299.66 93,977.6 12.8 1.4 5.1
Abu Dhabi 4,647.21 (1.0) 0.4 4.3 2.6 73.01 129,192.1 12.3 1.6 3.7
Saudi Arabia 9,439.37 (0.3) 2.0 6.3 13.3 2,580.08 548,922.8 18.7 2.2 2.9
Kuwait 6,681.52 (0.1) (0.2) 1.7 2.2 92.20 101,458.4 16.8 1.1 3.8
Oman 6,694.02 0.3 0.5 2.1 5.5 22.81 25,313.6 9.6 1.5 4.2
Bahrain 1,440.53 (0.0) (0.5) 1.1 1.0 1.25 53,814.9 9.9 0.9 4.7
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)
12,550
12,600
12,650
12,700
12,750
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 declined 0.7% to close at 12,605.5 The Banks &
Financial Services and Real Estate indices led the losses. The
index fell on the back of selling pressure from Qatari
shareholders despite buying support from non-Qatari
shareholders.
 Qatar Islamic Bank and Doha Insurance Co. were the top losers,
falling 1.9% each. Among the top gainers, Aamal Co. and Qatar
Industrial Manufacturing Co. were up 2.9% each.
 Volume of shares traded on Monday fell by 40.7% to 9.7mn from
16.3mn on Sunday. Further, as compared to the 30-day moving
average of 15.0mn, volume for the day was 35.3% lower. Qatar
German Co for Medical Devices and Vodafone Qatar were the
most active stocks, contributing 14.3% and 13.6% to the total
volume respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings and Global Economic Data
Earnings Releases
Company Market Currency
Revenue
(mn) 4Q2014
% Change
YoY
Operating Profit
(mn) 4Q2014
% Change
YoY
Net Profit (mn)
4Q2014
% Change
YoY
National Agriculture
Development Co. (NADEC)*
Saudi Arabia SR – – 147.8 13.5% 107.2 7.0%
Eastern Province Cement
Co. (EPC)*
Saudi Arabia SR – – 294.0 -1.3% 374.0 21.0%
Dubai Financial Market
(DFM)*
Dubai AED 889.0 119.5% – – 759.3 166.8%
United Foods Co. (UFC)* Dubai AED 418.2 13.0% – – 16.1 12.0%
United Kaipara Dairies Co.
(Unikai)*
Dubai AED 310.4 0.1% -67.6 NA -66.1 NA
Al Ain Ahila Insurance Co.* Abu Dhabi AED 209.8 2.2% 69.7 16.6% 65.0 54.0%
Securities & Investment Co.
(SICO)*
Bahrain BHD 12.4 16.4% – – 5.4 11.3%
Bahrain
Telecommunications Co.
(Batelco)*
Bahrain BHD 389.7 5.2% – – 57.4 11.5%
BMMI* Bahrain BHD 106.1 8.0% – – 11.3 11.7%
Source: Company data, DFM, ADX, MSM (*FY2014 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
02/16 EU Eurostat Trade Balance SA December 23.3B 19.0B 21.6B
02/16 EU Eurostat Trade Balance NSA December 24.3B 20.0B 21.2B
02/16 UK Rightmove Rightmove House Prices MoM February 2.10% – 1.40%
02/16 UK Rightmove Rightmove House Prices YoY February 6.60% – 8.20%
02/16 China National Bureau of Stat. Foreign Direct Investment YoY January 29.40% – 10.30%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 GWCS begins tendering LVQ 5th phase expansion,
approves dividend distribution – Gulf Warehousing
Company’s (GWCS) Chairman Sheikh Abdulla bin Fahad bin
Jassem bin Jabor al-Thani said that the company has begun the
process of tendering the fifth phase of expansion of its Logistics
Village Qatar (LVQ) project. In 2014, GWCS completed LVQ
Phase 4 and expanded warehousing facilities at Ras Laffan
Industrial City site. Meanwhile, the General Assembly approved
the cash DPS of QR1.50. The assembly also confirmed the
previous board members for another period of three years from
2015 and elected Ali Abdulatif al-Misnad as an independent
board member under the supervision of the representatives from
the Ministry of Economy & Commerce. We have already
incorporated LVQ Phase 5 (25,000 square meters) in our model.
Our 12-month price target remains at QR64.00 and we
recommend a Market Perform rating on the stock. (QNBFS
Research, Gulf-Times.com)
 Al-Sada: MPHC well-positioned to withstand challenging
economic times ahead – Mesaieed Petrochemical Holding
Company’s (MPHC) Chairman and Energy Minister HE Dr.
Mohamed bin Saleh al-Sada said that MPHC is well-positioned
to withstand the challenging economic times ahead. The board
of directors is confident that the group can build on its “unique
advantages” by maximizing shareholder value by capitalizing on
QChem, QChem-II and Qatar Vinyl Company’s numerous
competitive strengths. MPHC has expressed confidence that the
group can continue its growth story, despite falling oil prices
affecting its activities indirectly. He pointed out that the entire
industrial spectrum was paying increased attention to the role of
technology in enhancing highly reliable, more economic and
safer operations. (Gulf-Times.com)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 63.53% 70.99% (32,628,310.55)
Non-Qatari 36.47% 29.00% 32,628,310.55

3. Page 3 of 6
 DOHI CEO: Insurance sector benefits from robust Qatari
economy – Doha Insurance (DOHI) Chief Executive Officer
Bassam Hussein said that Qatar’s insurance sector has not felt
any major impact due to the decline in oil prices and continues
to benefit from an economy, which is robust and presents
incredible opportunities. He said DOHI and the local market
have gained from the big-ticket projects such as Q-Rail,
preparations for 2022 FIFA World Cup and the infrastructure
upgrade by the Public Works Authority (Ashghal). Meanwhile, he
said that the company expects approval to set up a wholly-
owned reinsurance business — MENA Re Underwriters Limited
at the Dubai International Financial Centre (DIFC) within a few
months. MENA Re Underwriters basically will carry out the
reinsurance business. It will be 100% owned by DOHI. (Gulf-
Times.com)
 QSE suspends trading of QATI shares on February 17 – The
Qatar Stock Exchange (QSE) has announced the trading
suspension of Qatar Insurance Company’s (QATI) shares on
February 17, 2015 due to its AGM and EGM being held on that
day. (QSE)
 QSE suspends trading of QEWS shares on February 17 –
The Qatar Stock Exchange (QSE) has announced the trading
suspension of Qatar Electricity and Water Company’s (QEWS)
shares on February 17, 2015 due to its AGM being held on that
day. Meanwhile, QEWS has announced the agenda for its AGM
which includes discussing and approving balance sheet and
profit & loss account as well as approving board’s proposal to
distribute cash dividend. (QSE)
International
 Eurozone December trade surplus higher than expected –
The European Union's statistics office Eurostat said that the
Eurozone had a bigger than expected unadjusted trade surplus
in December as exports surged 8% YoY and imports edged just
1% higher. As per Eurostat data, the trade surplus of the
Eurozone was €24.3bn in 2014, almost double that of €13.6bn
recorded in December 2013 and well above the market
expectations of €20.5bn. For the whole of 2014, exports rose
2% YoY while imports were flat, bringing the overall trade
surplus for the whole year to €194.8bn from €152.3bn in 2013.
Eurostat said that the energy trade deficit fell to €256.7bn in the
first 11 months of 2014 from €292.5bn in the same period of
2013. Adjusted for seasonal swings, the Eurozone's trade
surplus was only minimally smaller at €23.3bn in December.
(Reuters)
 Greece defies creditors, seeking credit but no bailout –
Talks between Greece and Eurozone finance ministers over the
country's debt crisis broke down when Athens rejected a
proposal to request a six-month extension of its international
bailout package as unacceptable. The unexpectedly rapid
collapse raised doubts about Greece's future in the Eurozone
after a new leftist-led government vowed to scrap the €240bn
bailout, reverse austerity policies and end cooperation with
EU/IMF inspectors. Dutch Finance Minister Jeroen Dijsselbloem,
who chaired the meeting, said Athens had to request for an
extension, otherwise the bailout would expire at the end of the
month. The Greek state and its banks would then face a looming
cash crunch. How long Greece can keep itself afloat without
foreign support is uncertain. The European Central Bank will
decide whether to maintain emergency lending to Greek banks
that are bleeding deposits at an estimated rate of €2bn a week.
The state faces some heavy loan repayments in March 2015.
Meanwhile, the International Monetary Fund (IMF) head
Christine Lagarde said that the fund will not disburse more funds
to Greece if Athens does not make progress with its reforms.
(Reuters)
 Abe hopes BoJ keeps stimulus to meet inflation goal,
upbeat on economy – Japanese Prime Minister Shinzo Abe is
hopeful about the central bank continuing with its bold monetary
easing campaign to achieve its 2% inflation target. Abe praised
the Bank of Japan’s (BoJ) aggressive stimulus program for
helping revive the economy and wipe out the public's "sticky
deflationary mindset." Abe sidestepped a question from an
opposition lawmaker on whether the government is concerned
about the demerits of excessive monetary easing, saying only
that specific monetary policy measures were up to the BoJ to
decide. The BoJ has kept the monetary policy steady since
expanding its quantitative easing program in October 2014 to
prevent slumping oil prices and a subsequent slowdown in
inflation, from delaying achievement of its 2% price goal.
(Reuters)
 S.Korea, Japan agree to let $10bn forex swap deal expire –
South Korea's central bank said it has agreed with Japan to let
the existing currency swap line between the two countries worth
$10bn expire on February 23 as both economies are seen as
financially stable. A Bank of Korea official said the agreement
had been made as the situation in financial markets in both
countries was "good" and that political tensions between South
Korea and Japan were not included in the discussions to end
the currency swap agreement. The official also said that the two
countries could decide to make a new swap agreement if the
situation arises. (Reuters)
 Modernizing China's agriculture key to tackling slower
economy; $40bn Silk Road fund starts work along PE lines
– Chinese Premier Li Keqiang said modernizing Chinese
agriculture will help in countering slower economic growth by
driving investment in rural infrastructure and boosting
consumption. The Chinese economy grew at its slowest pace in
24 years in 2014 as property prices cooled, hitting demand for a
wide range of commodities. Li said infrastructure investment in
rural areas could help digest some of the excess capacity in
China's steel and cement industries, as well as create new jobs.
Li further added that overhauling farming models and improving
efficiency in distribution systems could also boost rural incomes.
Meanwhile, Governor of the People's Bank of China (PBoC),
Zhou Xiaochuan said the country’s $40bn Silk Road
infrastructure fund has started work along the lines of a long-
term private equity (PE) venture to boost businesses in
countries and regions along the road. The fund is partially
financed by China's foreign exchange reserves, with investors
including China Investment Corp, the country's sovereign fund.
The PBoC said other investors were China's Development Bank
and The Export-Import Bank of China, two leading Chinese
policy banks, which lend in line with government instructions.
(Reuters)
Regional
 Zawya Projects: Sustainability to drive $2.87tn construction
projects in GCC – GCC countries are increasingly seeking
sustainable and environmentally responsible developments, as
the region’s construction sector booms on the back of social
infrastructure spending. According to Zawya Projects data, as
much as $2.87tn worth of projects are in the design, bid or
construction stages in the GCC region up to 2025, with $1.53tn
worth of real estate projects under construction. Further,
according to a report by Ventures Middle East, GCC
governments have acted swiftly over the past three years to
embrace sustainable construction through awareness and
legislation, which has created demand for green development.

4. Page 4 of 6
Increased spending on social infrastructure to improve living
standards and using outdoor space more effectively are also
driving the construction market and boosting outdoor projects.
(GulfBase.com)
 Fitch Ratings appoints Global Head of Islamic Finance –
Fitch Ratings announced the appointment of Bashar Al Natoor
as the Global Head of Islamic Finance to be based in Dubai.
(Reuters)
 D&B BOI: KSA non-hydrocarbon sector maintains optimism
in 1Q2015 – According to Dun & Bradstreet’s (D&B) Business
Optimism Index (BOI) survey for Saudi Arabia, the Kingdom’s
non-hydrocarbon sector maintains its optimism level with its
composite BOI standing at 48 in 1Q2015 vis-à-vis 47 in 4Q2014
and 1Q2014. Firms have cited new projects from existing and
new clients, rising demand and increasing investment as
reasons for their strong outlook. However, the hydrocarbon
sector’s composite BOI is weighed down sharply by weaker
expectations for prices and profitability. The composite BOI has
declined from 50 in 1Q2014 and 34 in 4Q2014 to 16 in 1Q2015.
(GulfBase.com)
 Al Alamiya’s accumulated losses decreases to 31.51% of its
capital – Al Alamiya for Cooperative Insurance Company
announced that its accumulated losses have decreased to
SR126mn, representing 31.51% of its capital. The reason for
steady decline in the loss as a percentage of capital is due to
the increase in the company’s capital to SR400mn through a
rights issue. (Tadawul)
 NADEC BoD recommends SR35mn dividend for 2014;
SR70mn capital increase – National Agriculture Development
Company’s (NADEC) board of directors has recommended the
distribution of 5% dividend (SR0.5 per share), amounting to
SR35mn for 2014. Meanwhile, the BoD has recommended
increasing the company's capital from SR700mn to SR770mn
through bonus shares, offering one bonus shares for every ten
shares owned. The raise will be done through capitalization of
SR70mn from NADEC’s retained earnings, and is aimed at
supporting the company’s investment plan. Those shareholders
who are registered with Tadawul at the close of trading on the
extraordinary general assembly day (to be determined later) will
be eligible for the dividend and bonus shares. (Tadawul)
 DAAR repays SR1.7bn Sukuk IV – Dar Al-Arkan Real-Estate
Development Company (DAAR) announced that it has
completed the repayment of its SR1.7bn Sukuk IV, due on
February 18, 2015. DAAR transferred the total principal sum to
Deutsche Bank (the principal paying agent), and its Sukuk
holders will receive the funds on February 18, 2015. This fourth
Sukuk issue was part of the company’s Islamic structured debt
program initiated in 2007. The program aims to provide long-
term external financing to complement the company’s robust
internal cash flow and to match the development lifecycle of its
real estate projects. During the last seven years, DAAR has
successfully repaid four Sukuk issues, totaling SR8.4bn. The
developer has supplied the Saudi real estate market with more
than 15,000 residential units and 10mn square meters of
developed land. (Tadawul)
 Al-Woustah to start operations in 2Q2015 – Abdullah Al
Othaim Markets Company (Al Othaim), with reference to its
previous announcement about signing a non-binding MoU with
AGAD United Company for Investment, announced that the
establishment of the new company has been attested by the
Ministry of Commerce & Industry. The new Jeddah-based entity,
named ‘Al-Woustah Company for Food Services’ will operate
with a share capital of SR100mn. Al Othaim owns 25% of the
share capital, while AGAD owns 75%, which is a sister company
of ALBAIK Food Systems. Al-Woustah is expected to start its
operations in 2Q2015. (Tadawul)
 POSCO to sell stake in Posco E&C to PIF for $1.36bn –
POSCO, a South Korea-based steelmaker has signed a deal to
sell a 38% stake plus new shares of its construction unit, Posco
Engineering & Construction (Posco E&C) to Saudi Arabia's
Public Investment Fund (PIF) for about $1.36bn. Posco owns
almost 90% stake in Posco E&C. Posco plans to use some of
the proceeds to build a joint construction firm with PIF for
tapping into the gas & oil plant market in Saudi Arabia. Merrill
Lynch and JP Morgan managed this deal. (GulfBase.com)
 Alkhabeer Capital acquires majority stake in Eed Group –
Alkhabeer Capital announced that its fund ‘Alkhabeer
Healthcare Private Equity Fund I’ has acquired a majority stake
in Eed Group, an integrated healthcare provider in Saudi Arabia.
(GulfBase.com)
 S&P: UAE banks' profit growth to dip on weaker economy,
asset quality – According to a report by Standard & Poor's
(S&P), profit growth at banks in the UAE is expected to slip to 5-
6% in 2015 as macroeconomic challenges and minimal
improvements in asset quality reduce lenders' earnings. In
4Q2014, the top eight UAE banks by assets reported a YoY net
profit growth of between 13% and 82%, building on the
successive quarters of strong growth earlier in the year. S&P
expects lower oil prices to feed through into reduced economic
growth in the Gulf Arab state in 2015, which will reduce the
demand for new lending from companies and in some cases,
will increase default levels on existing debts. (Reuters)
 Deyaar to showcase projects at Dubai Property Show in
London – Deyaar Development announced that it will
participate in the inaugural edition of the Dubai Property Show in
London, between February 27 and March 1, 2015. The expo will
allow Deyaar to showcase several of its prominent projects in
Dubai, including Montrose in Al Barsha South at the extension of
Umm Suqeim road. The company will also put a spotlight its
premium project ‘The Atria’, a 1.25mn square feet luxury twin
towers complex of residential and hotel serviced apartments
located in the Business Bay district. (DFM)
 Etisalat’s Egypt unit signs $120mn loan – Emirates
Telecommunications Corporation’s (Etisalat) Egyptian
subsidiary, Etisalat Misr has signed a $120mn three-year loan
with HSBC and the National Bank of Abu Dhabi. The two banks
will provide $60mn each. The company will use these funds to
increase its competitiveness. (Reuters)
 NMC Health secures $825mn loan – NMC Health, the London-
listed UAE healthcare provider, has secured a five-year $825mn
loan from a group of six banks that will be used to pay existing
debt and fund acquisitions. The facility is divided into two
tranches, with both priced in a mix of US dollars and the UAE
dirhams, and will save up to $3.75mn a year in interest
payments. The first tranche for $350mn is an amortizing loan
and will be used to refinance existing debts of NMC and its
subsidiaries and for general corporate purposes. The second
tranche of $475mn is for acquisitions. Abu Dhabi Commercial
Bank, Commercial Bank of Dubai, Goldman Sachs, HSBC,
Standard Chartered and Union National Bank have underwritten
the facility. (Reuters)
 Bank Sohar’s BoD approves rights issue price – Bank
Sohar’s board of directors has approved a rights issue price of
175 baizas per share, divided into rights issue price of 173
baizas per share plus issue costs of 2 baizas per share. The
shareholders will be entitled to one share by way of rights for
every five shares held by them as on a record date to be

5. Page 5 of 6
announced later, in consultation with the Capital Market
Authority and Muscat Securities Market. (MSM)
 OIFC receives license from CBO for Wasel Exchange’s
Head Office – Oman Investment & Finance Company (OIFC)
has received the final approval and license for the Head Office
of the Wasel Exchange from the Central Bank of Oman (CBO).
The operations of Wasel Exchange, a wholly-owned subsidiary
of OIFC, are expected to commence soon. (MSM)
 Batelco’s BoD recommends BHD41.58mn dividend –
Bahrain Telecommunications Company’s (Batelco) board of
directors has recommended cash dividends of BHD41.58mn for
2014, equivalent to 25 fils per share. Out of this, 10 fils per
share has already been paid during 3Q2014 and the remaining
15 fils per share will be paid in cash following the AGM in March
2015. (Bahrain Bourse)
 BMMI’s BoD recommends cash dividends, bonus shares –
BMMI has recommended the distribution of cash dividend at
50% of the issued share capital (50 fils per share), excluding
treasury shares and bonus shares at the rate of one bonus
share for ten existing shares. Out of this, 20 fils per share has
already been distributed as interim dividend during 2014. Those
shareholders who are registered in the company’s records on
the day of the general assembly will be eligible for the dividend
and bonus shares. (Bahrain Bourse)
 Al Baraka Bank plans Sukuk for Jordanian unit – Bahrain-
based Al Baraka Banking Group’s CEO, Adnan Ahmed Yousif
said the bank is planning to issue a 10-year local currency
Sukuk for its Jordanian unit, Jordan Islamic Bank, later in 2015.
He said that Al Baraka is also planning a Sukuk for its South
African unit in 2015. (Reuters)

6. Contacts
Saugata Sarkar Abdullah Amin, CFA Shahan Keushgerian
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6509
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
Sahbi Kasraoui Ahmed Al-Khoudary QNB Financial Services SPC
Manager – HNWI Head of Sales Trading – Institutional Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548 PO Box 24025
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg (
#
Market closed on 16 February 2015) Source: Bloomberg (*$ adjusted returns;
#
Market closed on 16 February 2015)
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
Jan-11 Jan-12 Jan-13 Jan-14 Jan-15
QSE Index S&P Pan Arab S&P GCC
(0.3%)
(0.7%)
(0.1%) (0.0%)
0.3%
(1.0%)
(3.2%)
(4.0%)
(3.2%)
(2.4%)
(1.6%)
(0.8%)
0.0%
0.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,231.50 0.2 0.2 3.9 MSCI World Index 1,752.91 0.0 0.0 2.5
Silver/Ounce 17.28 (0.5) (0.5) 10.0 DJ Industrial#
18,019.35 0.0 0.0 1.1
Crude Oil (Brent)/Barrel (FM
Future)
61.40 (0.2) (0.2) 7.1 S&P 500#
2,096.99 0.0 0.0 1.9
Crude Oil (WTI)/Barrel (FM
Future)# 52.78 0.0 0.0 (0.9) NASDAQ 100#
4,893.84 0.0 0.0 3.3
Natural Gas (Henry
Hub)/MMBtu# 2.73 0.0 0.0 (8.9) STOXX 600 376.55 (0.6) (0.6) 3.2
LPG Propane (Arab Gulf)/Ton#
59.50 0.0 0.0 21.4 DAX 10,923.23 (0.8) (0.8) 4.1
LPG Butane (Arab Gulf)/Ton#
71.75 0.0 0.0 9.5 FTSE 100 6,857.05 (0.5) (0.5) 2.9
Euro 1.14 (0.3) (0.3) (6.1) CAC 40 4,751.95 (0.6) (0.6) 4.4
Yen 118.48 (0.2) (0.2) (1.1) Nikkei 18,004.77 0.8 0.8 4.1
GBP 1.54 (0.2) (0.2) (1.4) MSCI EM 984.09 (0.3) (0.3) 2.9
CHF 1.07 0.0 0.0 6.7 SHANGHAI SE Composite 3,222.36 0.4 0.4 (1.1)
AUD 0.78 0.1 0.1 (4.9) HANG SENG 24,726.53 0.1 0.1 4.7
USD Index 94.20 0.0 0.0 4.4 BSE SENSEX 29,135.88 0.1 0.1 7.9
RUB 63.20 (0.4) (0.4) 4.1 Bovespa#
50,635.92 0.0 0.0 (5.4)
BRL#
0.35 0.0 0.0 (6.5) RTS 897.35 (1.8) (1.8) 13.5
181.1
142.3
129.8