Qatar stock exchange

1. Page 1 of 5
QSE Intra-Day Movement
Qatar Commentary
The QSE Index gained 0.2% to close at 12,540.1. Gains were led by the Real
Estate and Telecoms indices, rising 3.3% and 0.6%, respectively. Top gainers
were Ezdan Holding Group and Islamic Holding Group, rising 6.6% and 6.3%,
respectively. Among the top losers, Qatar Insurance Co. fell 4.5%, while Qatar
German Co. for Medical Devices was down 4.1%.
GCC Commentary
Saudi Arabia: The TASI Index rose 0.9% to close at 9,814.7. Gains were led
by the Energy & Utilities and Transport indices, rising 3.5% and 2.0%,
respectively. SABB Takaful and Saudi Company for Hardware were up 10.0%
each.
Dubai: The DFM Index declined 0.1% to close at 4,067.0. The Industrial index
fell 10.0%, while the Financial & Investment Services index declined 1.5%.
National Cement fell 10.0%, while Gulf General investment was down 6.7%.
Abu Dhabi: The ADX benchmark index fell 1.0% to close at 4,584.5. The
Consumer Staples and Investment & Financial Services indices declined 1.9%
each. Al Khazna Co. Insurance fell 8.7%, while Abu Dhabi Ship Building Co.
was down 8.2%.
Kuwait: The KSE Index rose 0.1% to close at 6,364.1. The Consumer
Services and Real Estate indices gained 0.6% each. Gulf Franchising Holding
Co. rose 10.0%, while Munshaat Real Estate Projects Co. was up 7.7%.
Oman: The market was closed on May 17, 2015
Bahrain: The BHB Index declined 0.4% to close at 1,386.0. The Investment
index fell 0.8%, while the Insurance index declined 0.5%. Bahrain Commercial
Facilities Co. declined 6.5%, while Gulf Finance House was down 4.4%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 21.10 6.6 19,247.1 41.4
Islamic Holding Group 135.00 6.3 346.5 8.4
Doha Insurance Co. 26.50 3.3 231.1 (8.6)
Gulf Warehousing Co. 73.30 1.5 50.9 30.0
Qatari Investors Group 52.60 1.3 154.2 27.1
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Ezdan Holding Group 21.10 6.6 19,247.1 41.4
Vodafone Qatar 17.75 0.7 3,371.4 7.9
Masraf Al Rayan 46.25 (1.3) 1,329.6 4.6
Mazaya Qatar Real Estate Dev. 18.90 (0.1) 1,201.0 3.6
Barwa Real Estate Co. 49.50 (2.9) 987.2 18.1
Market Indicators 17 May 15 14 May 15 %Chg.
Value Traded (QR mn) 932.5 950.6 (1.9)
Exch. Market Cap. (QR mn) 667,281.5 666,094.9 0.2
Volume (mn) 32.4 29.7 9.0
Number of Transactions 9,114 8,976 1.5
Companies Traded 41 43 (4.7)
Market Breadth 15:24 17:22 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 19,487.97 0.2 0.2 6.4 N/A
All Share Index 3,339.23 0.2 0.2 6.0 14.1
Banks 3,251.93 (0.1) (0.1) 1.5 14.7
Industrials 3,998.61 (0.6) (0.6) (1.0) 14.1
Transportation 2,478.73 (0.3) (0.3) 6.9 13.7
Real Estate 2,992.19 3.3 3.3 33.3 10.6
Insurance 4,682.50 (3.0) (3.0) 18.3 21.6
Telecoms 1,313.06 0.6 0.6 (11.6) 26.0
Consumer 7,448.49 (0.8) (0.8) 7.8 28.9
Al Rayan Islamic Index 4,761.68 0.2 0.2 16.1 14.5
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Ezdan Holding Group Qatar 21.10 6.6 19,247.1 41.4
Saudi Chemical Co. Saudi Arabia 82.72 4.5 829.2 44.5
Saudi Electricity Co. Saudi Arabia 20.82 4.0 5,595.8 39.7
Saudi Real Estate Co. Saudi Arabia 38.90 3.4 335.5 16.4
Fawaz Al Hokair Saudi Arabia 105.13 3.2 401.3 6.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
United Arab Bank Abu Dhabi 5.70 (5.0) 0.1 5.2
Qatar Insurance Co. Qatar 94.50 (4.5) 583.0 20.0
Gulf Cable & Ele. Ind. Kuwait 0.59 (3.3) 20.5 (14.5)
Ajman Bank Dubai 2.25 (3.0) 6,934.5 (15.6)
Barwa Real Estate Co. Qatar 49.50 (2.9) 987.2 18.1
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 Insurance Co. 94.50 (4.5) 583.0 20.0
Qatar German Co for Med. Dev. 16.40 (4.1) 414.5 61.6
Zad Holding Co. 99.40 (3.4) 5.0 18.3
Barwa Real Estate Co. 49.50 (2.9) 987.2 18.1
Aamal Co. 16.65 (2.6) 832.8 15.1
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Ezdan Holding Group 21.10 6.6 408,781.4 41.4
Masraf Al Rayan 46.25 (1.3) 61,842.3 4.6
Vodafone Qatar 17.75 0.7 60,499.6 7.9
Qatar Insurance Co. 94.50 (4.5) 56,533.9 20.0
Gulf International Services 82.00 (1.8) 56,439.7 (15.6)
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* 12,540.10 0.2 0.2 3.1 2.1 256.16 183,302.2 13.2 2.0 4.0
Dubai 4,067.02 (0.1) (0.1) (3.8) 7.8 124.47 99,352.0 9.4 1.5 5.3
Abu Dhabi 4,584.48 (1.0) (1.0) (1.3) 1.2 38.72 123,846.6 11.5 1.5 4.9
Saudi Arabia 9,814.65 0.9 0.9 (0.2) 17.8 1,924.11 579,179.9 20.5 2.3 2.7
Kuwait 6,364.09 0.1 0.1 (0.2) (2.6) 34.08 97,574.0 16.6 1.1 4.1
Oman#
6,361.86 0.7 0.7 0.6 0.3 18.76 24,259.6 9.2 1.4 4.1
Bahrain 1,386.02 (0.4) (0.4) (0.3) (2.8) 1.85 21,672.9 8.9 1.0 5.1
Source: Bloomberg, Qatar Stock Exchange, Tadawul, MSM, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any,
#
Values as of May 14, 2015)
12,500
12,550
12,600
12,650
12,700
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 5
Qatar Market Commentary
 The QSE Index gained 0.2% to close at 12,540.1. The Real
Estate and Telecoms indices led the gains. The index rose on
the back of buying support from non-Qatari and GCC
shareholders despite selling pressure from Qatari shareholders.
 Ezdan Holding Group and Islamic Holding Group were the top
gainers, rising 6.6% and 6.3%, respectively. Among the top
losers, Qatar Insurance Co. fell 4.5%, while Qatar German Co.
for Medical Devices was down 4.1%.
 Volume of shares traded on Sunday rose by 9.0% to 32.4mn
from 29.7mn on Thursday. Further, as compared to the 30-day
moving average of 10.5mn, volume for the day was 208.2%
higher. Ezdan Holding Group and Vodafone Qatar were the most
active stocks, contributing 59.5% and 10.4% to the total volume,
respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings
Earnings Releases
Company Market Currency
Revenue
(mn) 1Q2015
% Change
YoY
Operating Profit
(mn) 1Q2015
% Change
YoY
Net Profit (mn)
1Q2015
% Change
YoY
Saudia Dairy & Foodstuff
Co. (SADAFCO)*
Saudi Arabia SR – – 155.6 -15.4% 141.5 -17.5%
National Cement Co. (NCC) Dubai AED 72.2 77.1% – – 36.5 7.4%
Hits Telecom Holding Co. Dubai KD 17.9 -48.2% 1.6 -19.0% 0.4 NA
Islamic Arab Insurance Co.
(Salama)
Dubai AED 232.0 3.3% 32.1 528.1% 9.4 NA
Gulf General Investments
Co. (GGICO)
Dubai AED 274.5 -20.5% – – 22.4 227.5%
Agility Public Warehousing
Co. (Agility)
Dubai KD 318.1 1.2% – – 11.8 5.2%
Waha Capital Abu Dhabi AED – – – – 182.2 20.2%
Eshraq Properties Co. Abu Dhabi AED 6.9 -90.0% – – -7.2 NA
Ras Al Khaimah National
Insurance Co. (RAK
Insurance)
Abu Dhabi AED 52.9 30.6% 15.0 8.9% 14.7 -3.2%
Abu Dhabi National
Company for Building
Materials (BILDCO)
Abu Dhabi AED 8.5 17.0% – – -3.3 NA
Global Investment House Bahrain KD 5.5 -9.7% – – 1.8 -41.7%
Inovest Bahrain BHD 2.0 -56.1% -1.0 NA -1.0 NA
Source: Company data, DFM, ADX, MSM
News
Qatar
 QNBK plans expansion in South East Asia – QNB Group
(QNBK) CEO Ali Ahmed al-Kuwari, in the bank’s annual strategy
conference held in Oman, said that QNBK is planning to expand
in South East Asia given the growing ‘East-West’ trade between
Qatar and Asia. He added that QNBK, which recently opened a
representative office in Ho Chi Min City in Vietnam, views Asia
as “strategically important”. The theme of the two-day
conference was built around QNBK’s stated vision of being a
“Middle East & Africa Icon” by 2017. QNBK’s presence through
its subsidiaries and associates extends to more than 27
countries across three continents, providing a comprehensive
range of value-added products and services. (Gulf-Times.com)
 QCSD raises CBQK’s foreign ownership to 49% – The Qatar
Central Securities Depository (QCSD) has amended the foreign
ownership percentage in the Commercial Bank of Qatar’s
(CBQK) shares, increasing it to 49% of the total capital effective
from May 18, 2015. This amendment is pursuant to Law no. 9
that allows foreign investors to own shares in listed companies
by no more than 49% of each company’s capital listed on the
Qatar Stock Exchange. The law also provides for the treatment
of the GCC citizens as Qataris in terms of owning the shares of
listed companies. (QSE)
 QNBFS: Qatari equities’ earnings remain resilient in 1Q2015
despite weak oil prices – QNB Financial Services (QNBFS)
said in a report that Qatari equities’ (excluding Vodafone Qatar)
earnings remained resilient in 1Q2015 despite weak oil prices
and saw their net income grow 3.3% QoQ and a robust 21.9%
YoY. The overall earnings of 43-listed stocks was driven by
strong growth from real estate, banking, telecom and
transportation sectors, but were constrained by a weak
performance at industrials, insurance and consumer sectors.
The earnings growth was restricted by a correction in commodity
prices and the seasonal nature of some companies. Weak oil
prices weighed heavily on investor sentiment as the Qatar Stock
Exchange (the benchmark QSE Index) posted a decline of 4.7%
in 1Q2015. Going forward, QNBFS believes Qatar’s long-term
fundamental story remains intact. However, international oil
prices will be the key to investor sentiment and the near-term
direction of the market. (Gulf-Times.com)
 MDPS: Rayyan municipality tops building permits in April
2015 – Qatar’s Ministry of Development Planning and Statistics
(MDPS), in its 4th edition of Building Permits Statistics, reported
Overall Activity Buy %* Sell %* Net (QR)
Qatari 67.29% 71.50% (39,167,907.33)
GCC 9.05% 6.45% 24,306,454.79
Non-Qatari 23.66% 22.06% 14,861,452.54

3. Page 3 of 5
that Rayyan municipality (including Sheehaniya) topped the
building permits recording an issuance of 267 building permits in
April 2015 i.e. 36% of the total issued permits, while Doha
municipality was at second place with 146 permits, i.e. 20%. As
per the report, the new building permits constituted 60% (441
permits) of the total building permits issued during April 2015,
while the additions permits constituted 35% (256 permits). Villas’
permits top the list of new residential buildings permits,
accounting for 73% (283 permits), whereas commercial
buildings were at the forefront of non-residential buildings
permits with 46% (25 permits). (QSA)
 QPI sees rise in OPEC demand as price drop hits shale
output – Qatar Petroleum’s (QP) foreign investment arm Qatar
Petroleum International’s (QPI) CEO, Nasser Khalil Al-Jaidah
said that the demand for OPEC’s crude will rise as the drop in oil
prices below $100 a barrel continues to hinder shale production.
He said that the coming period will witness an improvement in
crude prices but they will not reach $100. Al Jaidah said that QP
will benefit from lower oil prices as it restructures the company
by “shedding added costs that have accumulated in the past”.
He added that QPI will be taken over by its parent, which will
focus more on foreign operations and investments as most
domestic production projects have been completed.
(Bloomberg)
 ‘Made in Qatar’ expo to focus on local firms – The 4th
edition of 'Made in Qatar' exhibition will begin at the Doha
Exhibition Center on Tuesday and continue till May 22. Qatar
Chamber’s (QC) Chairman Sheikh Khalifa bin Jassim Al Thani
hoped that the event will achieve its goal of helping the
development of the Qatari industry. The exhibition will provide a
platform for industry leaders to exchange knowledge. He said
that the exhibition is part of QC's initiative to support the local
industry and encourage investors. The exhibition also aims at
supporting local companies to promote their products. More than
217 companies and about 200 productive families will participate
in the exhibition. (Qatar Tribune)
 Alpen Capital: Qatar to witness highest food consumption
growth in GCC – Alpen Capital, in its GCC Food Industry
report, said that food consumption in Qatar is expected to
witness highest growth in the GCC region over the next five
years driven by rising population. Qatar’s food consumption is
expected to grow at a compound annual growth rate (CAGR) of
5.5%, whereas food consumption in the GCC region is expected
to grow at a CAGR of 3.5% over 2014-19. The report said that
the Qatari food industry is strengthened by factors such as rising
expatriate population, tourism and a developing taste for
Western foods. The country’s food retail sales are estimated at
$11bn in 2014, showing a 13.1% YoY increase and accounting
for 46.4% of the total retail sales. (Peninsula Qatar)
International
 Germany urges Greece to implement reforms to unlock
funds – German politicians have kept up the pressure on
Greece over the weekend to implement reforms, with Economy
Minister Sigmar Gabriel warning Athens that a third aid package
would not be on the cards unless Greece made some changes.
Gabriel warned that the exit of Greece from the single currency
bloc would not only be highly dangerous economically but also
politically. The country is fast running out of cash and talks with
its lenders have been deadlocked over their demands for
Greece to implement reforms, including pension cuts and labor
market liberalization. Athens has depended on money from its
€240bn bailout by the European Union and the International
Monetary Fund to pay its bills since 2010. However, it has not
received any loan tranches since August 2014. (Reuters)
 London house prices plunge as election concerns hit
market – Asking prices for London homes fell the most in nine
months in May 2015 as concerns about potential property-tax
changes before the election cooled demand. Prices dropped
2.3% MoM but were up 1.5% YoY. The prices slipped 0.1%
nationally, posting the first decline in a May since the last
general election in 2010. The property website operator,
Rightmove said that concerns in the run-up to the election
surrounding housing policy proposals – particularly those put
forward by the opposition Labour Party – unnerved buyers and
caused fewer homes to be put on the market. However, it
expects a pick-up in prices as the Conservative Party’s victory
removed threats, including a potential tax on the most expensive
homes. (Bloomberg)
 Japan core machinery orders rise in March, outlook weak –
According to data published by Cabinet Office, Japan's core
machinery orders grew 2.9% MoM in March followed by a
revised 1.4% drop recorded in February 2015. However, core
orders are seen slipping in 2Q2015, suggesting that weak
capital spending could further sap momentum from an economy
struggling to rebound from a recession. Companies surveyed by
the Cabinet Office forecasted that core orders, which exclude
those of ships and electric power utilities, will fall 7.4% in
2Q2015. Core orders gained 6.3% QoQ in 1Q2015. The weak
outlook for capital spending is a worry for policy makers since it
is seen as crucial in driving a virtuous cycle of higher income,
consumer spending and robust economic growth. (Reuters)
 China home prices in April raise hope of bottoming out –
China's average new home prices in 70 major cities dropped for
the eighth consecutive month by 6.1% YoY in April. However,
the prices were flat MoM, further narrowing from a 0.1% fall
registered in March, adding to hopes that a property downturn
which is weighing heavily on the economy is beginning to
bottom out. Home sales measured by floor area rebounded
7.7% YoY in April, the first growth since November 2013. But
the real estate investment growth continued to slow in January-
April 2015 – the lowest since May 2009 as new construction
slumped, impacting demand for everything from steel and
cement to appliances and furniture. Economists said that the
property sector remains the biggest risk to Beijing's growth
target of around 7% in 2015 and authorities will need to take
bolder stimulus measures. (Reuters)
Regional
 SPV established to develop Rafal Living by Kempinski –
Albilad Capital, Zahran Group, Muhaidib Group and Rafal have
signed an agreement to establish a special purpose vehicle
(SPV) for developing Rafal Living by Kempinski in Riyadh, Saudi
Arabia. Rafal Living by Kempinski presents first-ever lavish sky
villas concept with 300 residential villas that are fully managed
and serviced by Kempinski, and will be ready for inhabitance by
2018. (GulfBase.com)
 SADAFCO BoD recommends SR113.75mn dividend –
Saudia Dairy & Foodstuff Company’s (SADAFCO) board of
directors has recommended the distribution of 35% dividend
(SR3.5 per share), amounting to SR113.75mn for the 2014-15
period. Shareholders, who are registered in the registers of the
Securities Depository Center (Tadawul), will be eligible to
receive the dividend on the closing date of the forthcoming
general assembly meeting.(Tadawul)
 Alkhaleej Training & Education completes selling fractions
shares – Alkhaleej Training & Education Company has
completed selling of 3,282 fractions shares arising out of the
company's capital increase. The company had sold the shares
on May 3, 2015 for a value of SR181,330.50 at an average price

4. Page 4 of 5
of SR55.25. The Riyadh Bank will deposit the fractions shares
amount into the company’s shareholders account on May 24,
2015. (Tadawul)
 Mobily joins VMware service provider network – Etihad
Etisalat Company (Mobily) has joined the VMware vCloud Air
Network as an enterprise-level service provider. The vCloud Air
Network provides organizations with VMware-based enterprise-
class security and infrastructure compatibility, as well as
freedom to readily move workloads among private, public and
hybrid clouds. (GulfBase.com)
 CDSI: KSA non-oil exports drop 19.4% in March; inflation at
2% in April – According to a report released by the Central
Department of Statistics & Information (CDSI), Saudi Arabia’s
non-oil exports dropped by 19.4% YoY in March 2015. As per
the report, plastic products topped the Kingdom’s list of exports
in March and registered 32.14% of non-oil exports valued at
more than SR5bn. Petrochemical products were ranked second
in non-oil exports and were valued at more than SR4bn, or
26.21%, of the total exports’ value; followed by ordinary metals
& products by 9.15%, or SR1.4bn of the total value of exports.
Further, the Kingdom’s imports have increased by 2.8% YoY to
SR55.6bn in April 2015. The report added that equipment,
machinery & electrical utensils captured the highest value of
Saudi imports in March at SR14.9bn, or 26.86% of the total
value of imports, followed by transport materials at the value of
SR9.5bn, or 17.13%, and ordinary metals and their products at
SR5.4bn, or 9.83%. Meanwhile, the UAE topped the list of major
importers of Saudi non-oil products by 10.68% of the total value
of exports in March, followed by China at 10.05% and India at
7.32%. China remained the biggest exporter to the Kingdom and
captured 13.99% of the total Saudi imports in March, followed by
the US at 12.22% and Germany at 6.90%. Moreover, the
statistics from CDSI showed that the Kingdom’s inflation rose
2% YoY, while inflation increased by 0.3% MoM in April 2015.
Prices of housing and utilities rose 3.1% YoY in April 2015, while
food & beverage prices climbed 1.3% YoY. (GulfBase.com,
Reuters)
 D&B BOI: KSA business community sentiments weaken in
2Q2015 – Dun & Bradstreet South Asia Middle East Ltd. (D&B),
in association with the National Commercial Bank (NCB), has
released the D&B Business Optimism Index (BOI) survey for
Saudi Arabia for 2Q2015. The BOI survey highlighted lower
optimism levels for both hydrocarbon and non-hydrocarbon
sectors in the Kingdom. Further, the OPEC’s decision to
maintain its output level in 2014 contributed to the most recent
oil price slump, as the Kingdom insisted on retaining its market
share against competing sources of crude. Saudi Arabia had
produced 9.64mn barrels per day (bpd) of crude in 4Q2014 and
maintained this level at the beginning of 2015, producing
9.68mn bpd in January 2015 and 9.64mn bpd in February 2015.
Meanwhile, the Kingdom is ramping up the number of machines
drilling for oil & gas despite the sharp fall in crude prices so as to
preserve its spare capacity. Sharihan Al-Manzalawi, NCB
economist, said that the continued volatility in oil markets since
the beginning of 2015 has weighed negatively on the optimism
in both the hydrocarbon and non-hydrocarbon sectors of
2Q2015. Accordingly, the hydrocarbon’s BOI dropped to 13
points, its lowest level since 2Q2009. Meanwhile, the non-
hydrocarbon’s BOI declined modestly to 43 points as the
government counter-cyclical fiscal policy, supported by its huge
reserves, apparently offset the expected negative impacts due
to the sharp fall in oil prices. (Gulf-Base.com)
 DP: Arabella Townhouses sell out on launch day – Dubai
Properties (DP) has reported the sale of all the units at its
upscale property, Arabella Townhouses which were launched
for sale on May 16, 2015 at its Sales and Customer Care
Center, Ras Al Khor. Further, the company has announced the
release of additional units for sale to cater to the strong investor
interest. (Gulf-Base.com)
 BofAML: ENBD’s sovereign exposure growing AED3.67bn
every quarter – According to a report by Bank of America-
Merrill Lynch (BofAML), Emirates NBD’s (ENBD) sovereign
exposure has grown exponentially over the years, at AED3.67bn
every quarter, reaching AED110.1bn in 1Q2015. According to
BofAML, this is about 30% of the emirate’s GDP. Meanwhile, the
bank’s loan growth climbed 4% YoY in 1Q2015 and is expected
to grow around 5% in 2015. (GulfBase.com)
 Nakheel signs new deal with Landmark for retail venture –
Nakheel has signed a new deal with Landmark Group to bring
25 retail brands to its Al Khail Avenue mall being developed in
Dubai’s Jumeirah Village. With a total of 1.2mn square feet of
retail space, Al Khail Avenue will have 350 shops, a diverse
range of cafes and restaurants, including al fresco dining and a
multi-storey car park with 4,400 spaces. The construction of the
mall will begin in 2015 and is expected open in 2018.
(GulfBase.com)
 Waha Capital to invest up to AED4bn by 2020 – Waha
Capital is planning to invest up to AED4bn by 2020. The
company is looking to invest in sectors with high growth
potential such as energy, infrastructure, healthcare and
education. Waha Capital has invested AED255mn in 1Q2015,
out of which AED193mn was invested into capital markets and
the remaining amount into its healthcare subsidiary. (Reuters)
 NCSI: Oman witnesses 68% surge in real estate
transactions – According to the National Centre for Statistics &
Information (NCSI), real estate transactions in Oman have
surged by 68% YoY to reach OMR1,638.9mn during January-
April 2015. The fees collected for these transactions stood at
OMR16.1mn, reflecting an increase of 12.6% YoY, while the
value of sale contracts fell by 0.9% YoY to reach OMR391.7mn.
Meanwhile, the number of sales transactions witnessed a
decline of 5.2% YoY to 28,543 contracts. A total of 85,346 title
deeds were issued till the end of April 2015 as compared to
81,168 title deeds in 2014, witnessing a rise of 5.1% in 2014.
Further, the number of title deeds issued to GCC nationals till
the end of April 2015 declined by 27.2% to 996 contracts as
compared to 1,369 title deeds issued during the same period in
2014. (GulfBase.com)
 CBO: Private deposits at Oman’s commercial banks rise to
OMR11.38bn – The monthly statistical bulletin report of the
Central Bank of Oman (CBO) has indicated that private deposits
at Oman’s commercial banks have increased by 9.47% to
OMR11.38bn during the period between January and February
2015 as compared to OMR10.4bn in January-February 2014. As
per the report, the gross value for these deposits at the end of
February 2015 includes the time deposits that stood at
OMR3.22bn, savings deposits of OMR4.16bn and demand
deposits of OMR3.8bn. The total value for these deposits
includes OMR10.51mn and OMR867.1mn in foreign currencies.
The demand deposits comprise 33% of the total private
deposits, while the capital and reserves account for 18.5% of the
total deposits. The rate of allocations and the retained interests
to the total credit was 3.5%. (GulfBase.com)

5. 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
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,
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Page 5 of 5
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg (*Value as of May 14, 2015)
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
Apr-11 Apr-12 Apr-13 Apr-14 Apr-15
QSE Index S&P Pan Arab S&P GCC
0.9%
0.2% 0.1%
(0.4%)
0.7%
(1.0%)
(0.1%)
(1.5%)
(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 1,224.06 0.2 3.0 3.3 MSCI World Index 1,807.06 0.2 0.7 5.7
Silver/Ounce 17.50 0.2 6.3 11.4 DJ Industrial 18,272.56 0.1 0.4 2.5
Crude Oil (Brent)/Barrel (FM
Future)
66.81 0.3 2.2 16.5 S&P 500 2,122.73 0.1 0.3 3.1
Crude Oil (WTI)/Barrel (FM
Future)
59.69 (0.3) 0.5 12.1 NASDAQ 100 5,048.29 (0.0) 0.9 6.6
Natural Gas (Henry
Hub)/MMBtu
2.96 2.9 6.9 (1.2) STOXX 600 396.45 0.1 0.9 9.3
LPG Propane (Arab Gulf)/Ton 47.88 (0.5) (3.0) (2.3) DAX 11,447.03 (0.5) (0.4) 9.8
LPG Butane (Arab Gulf)/Ton 57.88 (6.3) (11.1) (11.6) FTSE 100 6,960.49 (0.2) 0.8 7.2
Euro 1.15 0.4 2.3 (5.3) CAC 40 4,993.82 (0.2) (0.1) 10.4
Yen 119.25 0.1 (0.4) (0.4) Nikkei 19,732.92 0.6 2.1 13.1
GBP 1.57 (0.3) 1.8 1.0 MSCI EM 1,043.40 0.7 0.8 9.1
CHF 1.09 (0.4) 1.6 8.6 SHANGHAI SE Composite 4,308.69 (1.6) 2.6 33.3
AUD 0.80 (0.6) 1.3 (1.7) HANG SENG 27,822.28 2.0 0.9 17.9
USD Index 93.14 (0.3) (1.8) 3.2 BSE SENSEX 27,324.00 0.5 1.4 (0.8)
RUB 49.53 (1.1) (2.7) (18.4) Bovespa 57,248.63 1.5 0.3 1.5
BRL 0.33 (0.1) (0.7) (11.6) RTS 1,074.73 1.9 1.4 35.9
180.2
144.4
130.1