1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.1% to close at 12,279.2. Losses were led by the
Industrials and Transportation indices, falling 0.7% and 0.3%, respectively. Top
losers were Qatar German Co. for Medical Devices and Qatar General
Insurance & Reins., falling 4.4% and 3.9%, respectively. Among the top gainers
Qatar Oman Investment rose 3.3%, while Qatar National Cement was up 2.2%.
GCC Commentary
Saudi Arabia: The TASI Index fell 1.3% to close at 9,583.2. Losses were led
by the Petrochemical Industries and Media & Publishing, indices falling 2.4%
each. WAFA Insurance fell 7.1%, while AlSorayai Group was down 4.3%.
Dubai: The DFM Index declined 1.8% to close at 4,071.6. The Financial & Inv.
Serv. index fell 3.1%, while the Services index declined 2.7%. Gulfa Mineral
Water & Processing Ind. fell 9.9%, while Union Properties was down 9.7%.
Abu Dhabi: The ADX benchmark index rose 0.3% to close at 4,587.6. The
Services index gained 3.5%, while the Consumer index rose 2.2%. Abu Dhabi
Ship Building surged 14.5%, while Abu Dhabi National Hotels was up 8.0%.
Kuwait: The KSE Index fell 0.1% to close at 6,388.8. The Real Estate index
declined 1.0%, while the Technology index fell 0.5%. Human Soft Holding Co.
declined 6.8%, while Al-Madina for Finance & Investment was down 5.6%.
Oman: The MSM Index rose marginally to close at 6,313.8. Gains were led by
the Financial and Services indices, rising 0.5% and 0.1%, respectively. Al
Madina Investment and Oman & Emirates Inv. Holding were up 2.9% each.
Bahrain: The BHB Index declined 0.1% to close at 1,390.3. The Commercial
Bank index fell 0.4%, while the Investment index declined 0.3%. Gulf Finance
House fell 4.4%, while Al-Ahli United Bank was down 0.7%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar Oman Investment Co. 16.79 3.3 1,383.1 9.0
Qatar National Cement Co. 128.00 2.2 0.6 6.7
Qatar Islamic Bank 106.70 1.7 150.5 4.4
Qatar Insurance Co. 87.00 1.2 92.6 10.4
National Leasing 21.35 1.1 775.6 6.8
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 47.95 (0.9) 1,437.6 8.5
Qatar Oman Investment Co. 16.79 3.3 1,383.1 9.0
Vodafone Qatar 17.56 0.3 983.3 6.7
Barwa Real Estate Co. 50.60 1.0 840.4 20.8
National Leasing 21.35 1.1 775.6 6.8
Market Indicators 11 May 15 10 May 15 %Chg.
Value Traded (QR mn) 500.8 255.4 96.1
Exch. Market Cap. (QR mn) 659,979.0 660,261.0 (0.0)
Volume (mn) 10.7 7.2 48.4
Number of Transactions 6,452 3,945 63.5
Companies Traded 41 41 0.0
Market Breadth 21:14 19:17 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 19,082.48 (0.1) (0.0) 4.1 N/A
All Share Index 3,282.97 (0.0) (0.0) 4.2 13.8
Banks 3,273.34 0.4 0.3 2.2 14.8
Industrials 4,056.99 (0.7) (0.7) 0.4 14.3
Transportation 2,489.40 (0.3) (0.7) 7.4 13.8
Real Estate 2,638.50 0.1 0.2 17.6 9.3
Insurance 4,408.22 0.1 0.1 11.4 20.3
Telecoms 1,328.24 (0.3) 0.2 (10.6) 26.3
Consumer 7,458.15 0.1 0.1 8.0 29.0
Al Rayan Islamic Index 4,702.09 0.0 (0.3) 14.6 14.3
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Hotels Abu Dhabi 2.70 8.0 225.9 (32.5)
Kingdom Holding Co. Saudi Arabia 21.59 6.4 3,157.1 19.3
Nat. Marine Dredging Abu Dhabi 6.30 5.0 8.0 (8.7)
Comm. Bank of Kuwait Kuwait 0.64 3.2 37.7 1.6
Qatar Nat. Cement Co. Qatar 128.00 2.2 0.6 6.7
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Arabtec Holding Co. Dubai 2.59 (4.8) 19,576.5 (7.2)
Qatar Gen. Ins. & Re Qatar 56.30 (3.9) 17.9 9.7
Dubai Financial Market Dubai 1.96 (3.9) 11,196.3 (2.5)
Solidarity Saudi Takaful Saudi Arabia 15.36 (3.6) 2,131.5 (22.8)
Nat. Real Estate Co. Kuwait 0.11 (3.6) 418.8 (19.7)
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 German Co. for Med. Dev. 17.21 (4.4) 683.0 69.6
Qatar General Ins. & Reins. Co. 56.30 (3.9) 17.9 9.7
Industries Qatar 145.10 (1.8) 217.7 (13.6)
Masraf Al Rayan 47.95 (0.9) 1,437.6 8.5
Gulf International Services 85.10 (0.8) 230.8 (12.4)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
QNB Group 200.50 0.8 80,262.8 (5.8)
Masraf Al Rayan 47.95 (0.9) 69,188.0 8.5
Barwa Real Estate Co. 50.60 1.0 42,690.3 20.8
Industries Qatar 145.10 (1.8) 31,864.9 (13.6)
Qatar Oman Investment Co. 16.79 3.3 22,991.7 9.0
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* 12,279.17 (0.1) (0.0) 0.9 (0.1) 137.58 181,296.2 12.9 2.0 4.1
Dubai 4,071.58 (1.8) (0.8) (3.7) 7.9 199.69 99,183.9 9.2 1.5 5.3
Abu Dhabi 4,587.62 0.3 0.7 (1.3) 1.3 37.90 123,595.8 11.6 1.5 4.9
Saudi Arabia 9,583.24 (1.3) (1.4) (2.6) 15.0 2,011.18 561,078.4 20.1 2.3 2.8
Kuwait 6,388.84 (0.1) (0.1) 0.2 (2.2) 42.00 97,909.0 17.3 1.1 4.0
Oman 6,313.84 0.0 (0.1) (0.1) (0.5) 5.00 24,152.9 9.0 1.4 4.2
Bahrain 1,390.26 (0.1) 0.0 (0.0) (2.5) 1.54 21,736.5 8.9 0.9 5.1
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)
12,260
12,280
12,300
12,320
12,340
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 0.1% to close at 12,279.2. The
Industrials and Transportation indices led the losses. The index
fell on the back of selling pressure from Qatari and GCC
shareholders despite buying support from non-Qatari
shareholders.
 Qatar German Co. for Medical Devices and Qatar General Ins. &
Reinsurance Co. were the top losers, falling 4.4% and 3.9%,
respectively. Among the top gainers Qatar Oman Investment Co.
rose 3.3%, while Qatar National Cement Co. was up 2.2%.
 Volume of shares traded on Monday rose by 48.4% to 10.7mn
from 7.2mn on Sunday. Further, as compared to the 30-day
moving average of 9.2mn, volume for the day was 15.4% higher.
Masraf Al Rayan and Qatar Oman Investment Co. were the most
active stocks, contributing 13.5% and 13.0% to the total volume,
respectively.
Source: Qatar Stock 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
Al Khalij
Commercial Bank
(KCBK)
Moody’s Qatar
LT LCDR/ST
LCDR/LT FCDR/ST
FCDR/BCA
–
A3/Prime-
2/A3/Prime-
2/ba1
– Stable –
Qatar
International
Islamic Bank's
(QIIK)
Moody’s Qatar
LT IR/ST
IR/BCA/CRA
A3/Prime-2/ba1
A2/Prime-
1/baa3/A1  Stable 
Source: News reports (* LT – Long Term, ST – Short Term, FSR – Financial Strength Rating, FCDR – Foreign Currency Deposit Rating, LCDR – Local Currency Deposit Rating, IDR – Issuer Default Rating, SR
– Support Rating, LC – Local Currency, BCA – Baseline Credit Assessment, CRA – Counterparty Risk Assessment )
Earnings Releases
Company Market Currency
Revenue
(mn) 1Q2015
% Change
YoY
Operating Profit
(mn) 1Q2015
% Change
YoY
Net Profit (mn)
1Q2015
% Change
YoY
Union Properties (UP) Dubai AED 258.5 -36.1% – – 28.1 -84.3%
Oman Insurance Co. (OIC) Dubai AED 359.6 5.4% 31.0 -31.9% 44.5 -25.1%
Ras Al Khaimah Ceramics
Co. (RAK Ceramics)
Abu Dhabi AED 744.0 0.5% – – 57.9 -0.2%
Green Crescent Insurance
Co. (GCIC)
Abu Dhabi AED 9.4 -46.3% – – -2.2 NA
Abu Dhabi Ship Building
(ADSB)
Abu Dhabi AED 203.1 4.8% – – 41.6 NA
Kuwait Food Co.
(Americana)
Kuwait KD – – – – 17.3 -4.4%
Oman Fisheries Co. (OFC)* Oman OMR 24.3 22.8% – – -1.7 144.8%
Banader Hotels Co. (BHC) Bahrain BHD – – – – -0.1 NA
Source: Company data, DFM, ADX, MSM (*FY2014-15 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
05/11 US Federal Reserve Labor Market Conditions Index Change April -1.9 – -1.8
05/11 UK Bank of England BOE Asset Purchase Target May 375B 375B 375B
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 48.43% 58.15% (48,691,207.26)
GCC 5.78% 8.33% (12,781,842.45)
Non-Qatari 45.79% 33.51% 61,473,049.71

3. Page 3 of 6
News
Qatar
 Ashghal: Contracts worth QR3.3bn awarded for building
new roads – The Public Works Authority (Ashghal) has
awarded contracts worth QR3.3bn for building new roads and
developing essential basic infrastructure in different parts of the
country, especially in Wukair and Wakrah, under its
Construction & Development of Infrastructure in Local Areas
program. Senior Engineer & President of Ashghal, Nasser Ali al-
Mawlawi said besides facilitating smooth traffic flow along the
areas where works are to be undertaken, the connectivity across
the country will shoot up considerably once the projects are
completed. (Gulf-Times.com)
 Moody's assigns A3/Prime-2 rating to KCBK – Moody's
Investors Service for the first time has assigned Al Khalij
Commercial Bank (KCBK) long & short term local and foreign
currency deposit ratings of A3/Prime-2 and a Baseline Credit
Assessment (BCA) of ba1. The long-term ratings carry a stable
outlook. (Moody’s)
 Moody's upgrades QIIK’s issuer ratings – Moody's Investors
Service has upgraded Qatar International Islamic Bank's (QIIK)
long term and short term issuer rating to A2/Prime-1 from
A3/Prime-2, and changed baseline credit assessment (BCA)
and adjusted BCA to baa3 from ba1. Moody's also changed the
outlook on the bank's long term ratings to stable. Meanwhile,
Moody's assigned a new Counterparty Risk Assessment of A1
to QIIK. (Moody’s)
 KCBK partners with UDCD to offer special rate on
properties – Al Khalij Commercial Bank (KCBK) has
collaborated with United Development Company (UDCD) to
showcase its personal banking business products & services,
and exclusively offer visitors of Cityscape Qatar 2015 a special
interest rate of 3.7% on reducing balances on property
financing. KCBK said it is presenting the exclusive offer on
mortgage loans to Qataris and expatriates with tailored financial
solutions & support for home buyers, property investors, and
home owners looking for new opportunities. (Gulf-Times.com)
 MERS opens new branch in Gulf Mall – Al Meera Consumer
Goods Company (MERS) has opened its newest branch at the
Gulf Mall –its 40th branch, including five other outlets opened in
Oman. This move is line with MERS’ strategy to expand and
serve all areas in Qatar. (QSE)
 ORDS unit to pay $19mn to Sukuk holders, signs $500mn
credit facility agreement – Ooredoo Tamweel Limited (OTL), a
wholly-owned subsidiary of Ooredoo (ORDS), will pay around
$18.99mn to its Sukuk holders on June 3, 2015. Meanwhile,
ORDS has signed a five-year $500mn revolving credit facility
agreement. The company intends to use the facility for general
corporate purposes. Moreover, the company has appointed
Rene Meza as the new Chief Executive Officer (CEO) of its
Myanmar unit. (QSE, ADX)
 QA launches Asia’s first A350 XWB service to Singapore;
buys hotel in Scotland – Qatar Airways (QA) became the first
airline to operate the world’s newest aircraft to Singapore and
the Asia Pacific region with the inaugural A350 XWB service
arriving at Singapore's Changi Airport. Meanwhile, QA has
acquired Novotel Edinburgh Park Hotel in Scotland. The hotel
will continue to be managed and operated under the Novotel
brand by Accor, which operates more than 3,700 quality hotels
worldwide. (Gulf-Times.com)
 QNCC appoints General Manager – Ken Jamieson has been
appointed as the General Manager of Qatar National
Convention Centre (QNCC), operated by Qatari holding group
Amlak. (Gulf-Times.com)
International
 IMF: German economy could grow more than 1.6% in 2015 –
The International Monetary Fund (IMF) said that Germany's
economy could grow more in 2015 than the IMF’s forecast of
1.6% in April, if lower energy prices and the European Central
Bank's bond-buying scheme feed through more than expected.
However, the IMF said that it would stick to its German growth
forecast for the time being. The global financial institution added
that private consumption will be the main growth driver in 2015
as workers benefit from robust wage increases while net exports
will also provide support. On the other hand, the IMF said that
risks were still there such as weaker than forecast growth in
Germany's trade partners or an escalation in the eurozone's
troubles. Germany raised its growth forecasts in April for 2015
and 2016 to 1.8% due to new jobs, cheap oil and the weak euro.
(Reuters)
 BoE holds rate at 0.5% as Carney prepares to signal
outlook – The Bank of England (BoE) maintained the
benchmark at 0.5% on Monday. The economy has grown for
nine straight quarters and, while inflation is below the BOE’s
target, oil prices are rising. Against that backdrop, the BoE
Governor, Mark Carney might stop short of endorsing the view
that the key rate will stay unchanged for more than another year
when he presents new forecasts on May 13, 2015. The recent
bout of below-target inflation means Carney will have to send an
open letter to Chancellor of the Exchequer George Osborne
explaining how he will deal with it. The BoE will publish that
alongside the Inflation Report. (Bloomberg)
 Germany floats Greek referendum on reform, others doubt
timing – The European Union paymaster Germany suggested
that Greece might need a referendum to approve painful
economic reforms on which its creditors are insisting, but Athens
said it had no such plan for now and others warned a vote could
delay vital aid. Greece calmed immediate fears of a default by
making a crucial €750mn payment to the International Monetary
Fund a day earlier. But Finance Minister Yanis Varoufakis said
the liquidity situation was "terribly urgent" and a deal to release
further funds was needed in the next couple of weeks.
Meanwhile, Eurogroup chairman Jeroen Dijsselbloem warned
that a referendum could delay the disbursement of around
€7.2bn in urgently needed frozen bailout aid. (Reuters)
 Australia expects to better budget deficit targets – Australian
Treasurer Joe Hockey said that the government budget deficit
will undershoot market forecasts and keep improving over a
period of time. He said that the market is forecasting a shortfall
of around AUD40-41bn but the actual deficit would beat that.
Prime Minister Tony Abbott's government is adopting a far more
cautious approach to their second budget after attempts to slash
spending and welfare in 2014 proved politically disastrous. This
time the talk is of a "fair" budget aimed at strengthening the
economy and ensuring the "integrity" of Australia's tax system.
Tax steps include proposals to crack down on alleged tax
avoidance by 30 multinational companies. Hockey also plans to
extend a 10% goods and services tax to cover digitally
downloaded products, such as music, books and games.
(Reuters)
Regional
 Chemanol AGM approves dividend freeze – Methanol
Chemicals Company’s (Chemanol) ordinary general assembly
meeting (AGM) has approved the recommendations not to

4. Page 4 of 6
distribute dividend for the financial year ended December 31,
2014. The decision is aimed at supporting the financial position
of the company and to enhance its strategic plans. Further, the
AGM has approved the transactions and contracts concluded
between Chemanol and the related parties during 2014.
(Tadawul)
 Value of NWC’s water projects exceed SR25bn – National
Water Company (NWC) said that it currently has 301 water
projects worth SR25.2bn in the fields of service, infrastructure
development and water treatment in Makkah, Riyadh, Taif and
Jeddah. Further, the number of projects implemented in these
cities stand at 174 involving a total cost of SR19.7bn, while
those in the contract signing stage stand at 127 with a
cumulative value of over SR5.5bn. (GulfBase.com)
 SACO will start trading on Tadawul today – Saudi Company
for Hardware (SACO) will start trading today on the Saudi Stock
Exchange (Tadawul), under the retail sector with symbol ‘4008’.
The fluctuation limit will stand at 10%. (GulfBase.com)
 Alkhabeer Capital launches Waqf program – Alkhabeer
Capital has launched its Waqf (endowment) program to provide
advisory services for structuring Waqf entities, as well as
managing their assets. Through its Waqf program, Alkhabeer is
targeting educational & charitable institutions, family offices,
high net worth individuals and other philanthropists who aspire
to establish Waqf entities. (GulfBase.com)
 Saudi, Kuwait to shut joint oilfield for maintenance –
According to a Kuwaiti industry source, Saudi Arabia and Kuwait
are planning to shut down their shared onshore oilfield at Wafra
for a period of two weeks for maintenance. The total production
from the joint field was around 190,000 barrels per day (bpd).
Meanwhile, the oilfield, which is operated by a Saudi Arabian
unit of US oil major Chevron, has also been at the center of a
long-standing dispute between Saudi Arabia and Kuwait.
(Reuters)
 Saudi Aramco plans to spend up to $80bn abroad;
discovers eight new oil & gas fields in 2014 – According to
sources, Saudi Arabian Oil Company (Saudi Aramco) is
planning to spend between $70bn and $80bn on overseas
acquisitions and investments during the next five years. The
investment is part of the state-owned company’s target of
spending $150bn at home and internationally through 2019. The
company will focus on Asia, particularly China and Korea.
Meanwhile, Saudi Aramco said that it has discovered eight new
oil & gas fields in the east of the country in 2014. There were
five new gas fields, named Abu Ali, Faras, Amjad, Badi and
Faris, with two oil fields, Sadawi and Naqa. The other was an oil
& gas field named Qadqad. This brings Saudi Aramco’s total
number of discovered fields to 129. Saudi Aramco produced
9.5mn barrels per day (bpd) on an average in 2014 and
exported a total of 2.5bn barrels to customers around the world.
(Bloomberg, Reuters)
 Al Mazaya to diversify investment portfolio – Rashid Al
Nafisi, Chairman of the Al Mazaya Holding Company, said that
the company will focus on Dubai, Muscat, Istanbul with a focus
on expanding its real estate portfolio. He said that the cities
offered an optimal blend of commercial opportunities, strong
economic conditions and thriving tourist industries, which make
them highly attractive destinations for long-term investments.
(GulfBase.com)
 DP World to issue $500mn bond – DP World is expected to
raise $500mn from a five-year bond issue. The deal is
earmarked to price in the area of 180 basis points over mid-
swaps. Meanwhile, Barclays, Citigroup, Deutsche Bank,
Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and
Societe Generale are acting as arrangers for the bond issue.
Further, the roadshows for the transaction concluded on May
10, 2015. (GulfBase.com)
 ADDED: Total number of business licenses rise in Abu
Dhabi – According to a report issued by the Abu Dhabi
Business Centre of the Abu Dhabi Department of Economic
Development (ADDED), the total number of new business
licenses in Abu Dhabi has risen by 4% during 1Q2015 to 2,536
as compared to 2,438 licenses in 1Q2014. Meanwhile, the total
number of business licenses registered in Abu Dhabi at the end
of 1Q2015 has reached 108,016, with over 66,023 licenses
distributed in Abu Dhabi, 30,715 in Al-Ain and 11,278 in the
Western Region. (GulfBase.com)
 Kuwait inflation rises to 3.3% in March 2015 – Kuwait’s
inflation in the consumer price index (CPI) has climbed to almost
a three-year high of 3.3% in March 2015. Price pressures have
arisen from housing rents and health services. Meanwhile, core
inflation has risen from 3.3% YoY in February 2015 to 3.7% YoY
in March 2015. Core inflation has been gradually trending higher
since the end of 2013, primarily due to rising inflationary
pressures from the housing component. Further, inflation in the
food price index saw a slight uptick in March 2015, rising from
1.4% YoY in February to 1.7% YoY, while the global food prices
have contracted by 17.5% YoY. The ongoing decline in
international food prices could be attributed to lower transport
costs due to lower oil prices. However, housing inflation is
forecasted to ease later in 2015, ensuring general inflation
remains in check. Moreover, declining global food prices and a
stronger dinar should help offset pressures elsewhere, with the
overall inflation likely to average close to 3.5% in 2015.
(GulfBase.com)
 NBO increases size of EMTN program – National Bank of
Oman’s (NBO) board has approved an expansion in the size of
‘Euro Medium Term Notes (EMTN)’ program to $1.5bn from an
earlier value of $600mn. Further, NBO will also issue Basle III
compliant Tier 2 instruments, whose terms will be subject to
approval of the Central Bank of Oman (CBO). Moreover, NBO’s
board has approved the issuance of a $300mn additional Tier 1
capital, with terms and conditions to be approved by Omani
regulators. (MSM)
 Renaissance raises OMR45.3mn debt for Duqm project –
Renaissance Services Company has successfully raised debt
worth OMR45.3mn, which is required to finance its
OMR75.5mn-Duqm accommodation project, which is scheduled
to be launched by mid-2016. The project will create the largest
permanent accommodation facility in Oman, with fully serviced
housing, recreation and catering facilities for over 16,000
people. (GulfBase.com)
 Oman MoOG: Oman’s oil production falls to 28.81mn
barrels in April – A monthly report released by the Ministry of
Oil and Gas (MoOG) indicated that production of crude oil and
condensate in Oman has stood at 28.81mn barrels in April 2015.
Further, the average daily crude oil production of 960,300
barrels has shown a decline of 1.67% MoM. Similarly, the total
crude oil export of 23.7mn barrels, which is equivalent to
790,132 barrels per day, is reflecting a 9.31% decline MoM.
(GulfBase.com)
 Omani-Belgian JV to develop Duqm industrial clusters –
Shareholders from Oman and Belgium at the Port of Duqm
Company (PDC) have set up a special purpose vehicle in order
to develop and promote the massive industrial clusters created
within the adjoining Duqm Special Economic Zone (SEZ). Duqm
Industrial Land Company (DILC) is a new joint venture (JV)

5. Page 5 of 6
entity established by PDC’s shareholders. The JV focused on
developing and marketing the plots that are allocated for
industrial investments within the SEZ. (GulfBase.com)
 SEZAD, SOC plan $62.7mn sebacic acid project – The
Special Economic Zone Authority at Duqm (SEZAD), and
Sebacic Oman Company (SOC) have signed an agreement to
invest $62.7mn in order to construct a sebacic acid production
plant in Duqm SEZ. The plant will be spread over 400,000
square meters of land. (GulfBase.com)
 Oman announces OMR200mn Sukuk issue – Oman
government announced the much-awaited maiden sovereign
Sukuk issue of OMR200mn. The sovereign Sukuk issue will be
announced through a private placement process. Further, the
Sukuk issue will be marketed primarily to Islamic financial
institutions as well as sophisticated investors, with a minimum
subscription amount of OMR500,000. (GulfBase.com)
 Global Saudi, Mosa & Sons to launch real estate fund –
Global Investment House - Saudia (Global Saudi) and Mosa bin
Abdulaziz Al Mosa & Sons Group (Mosa & Sons) have signed
an agreement to launch an income generating real estate fund
in Saudi Arabia. Global Saudi will act as the fund manager while
Mosa & Sons will be the strategic partner. Meanwhile, Global
Saudi has assigned a Shari'ah Advisory firm called Shariyah
Review Bureau (SRB) to supervise its Islamic Shari’ah-
compliant real-estate fund in line with the global standards.
(Bahrain Bourse, GulfBase.com)
 Standard Chartered mulls exiting SME banking in Bahrain –
According to sources, the British bank Standard Chartered is
planning to exit from its small and medium-enterprise (SME)
lending business in Bahrain. The lender aims to close the
business gradually over the next two years and may move some
of its larger SME clients to the corporate banking segment. The
bank’s Dubai-based spokesman, Ramy Lawand said that
Standard Chartered remains committed to Bahrain, although it
continues to review its businesses across various markets as
part of its new strategy. (Bloomberg)

6. Contacts
Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“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
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg (
#
Market closed on May 11, 2015) Source: Bloomberg (*$ adjusted returns,
#
Market closed on May 11, 2015)
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15
QSE Index S&P Pan Arab S&P GCC
(1.3%)
(0.1%) (0.1%) (0.1%)
0.0%
0.3%
(1.8%)
(2.4%)
(1.8%)
(1.2%)
(0.6%)
0.0%
0.6%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,183.98 (0.4) (0.4) (0.1) MSCI World Index 1,789.09 (0.3) (0.3) 4.6
Silver/Ounce 16.31 (1.0) (1.0) 3.9 DJ Industrial 18,105.17 (0.5) (0.5) 1.6
Crude Oil (Brent)/Barrel (FM
Future)
64.91 (0.7) (0.7) 13.2 S&P 500 2,105.33 (0.5) (0.5) 2.3
Crude Oil (WTI)/Barrel (FM
Future)
59.25 (0.2) (0.2) 11.2 NASDAQ 100 4,993.57 (0.2) (0.2) 5.4
Natural Gas (Henry
Hub)/MMBtu
2.85 2.9 2.9 (5.0) STOXX 600 401.34 (0.3) (0.3) 8.0
LPG Propane (Arab Gulf)/Ton#
49.38 0.0 0.0 0.8 DAX 11,673.35 (0.9) (0.9) 9.3
LPG Butane (Arab Gulf)/Ton 58.25 (0.4) (0.4) (7.2) FTSE 100 7,029.85 0.6 0.6 7.1
Euro 1.12 (0.4) (0.4) (7.8) CAC 40 5,027.87 (1.8) (1.8) 8.5
Yen 120.08 0.3 0.3 0.3 Nikkei 19,620.91 1.0 1.0 11.9
GBP 1.56 0.8 0.8 0.1 MSCI EM 1,036.02 0.1 0.1 8.3
CHF 1.07 (0.4) (0.4) 6.4 SHANGHAI SE Composite 4,333.58 3.0 3.0 33.8
AUD 0.79 (0.5) (0.5) (3.5) HANG SENG 27,718.20 0.5 0.5 17.4
USD Index 95.01 0.2 0.2 5.3 BSE SENSEX 27,507.30 1.1 1.1 (1.1)
RUB 51.25 0.7 0.7 (15.6) Bovespa 57,197.10 (1.5) (1.5) (0.3)
BRL 0.33 (2.8) (2.8) (13.4) RTS#
1,059.52 0.0 0.0 34.0
176.4
142.1
128.5