1. QE Intra-Day Movement
Market Indicators
11,880
11,860
11,840
11,820
25 Feb 14
%Chg.
1,086.3
690,438.7
18.7
15,120
37
20:16
722.6
623,820.6
13.2
5,065
39
12:25
50.3
10.7
41.2
198.5
(5.1)
–
Market Indices
11,800
11,780
9:30
26 Feb 14
Value Traded (QR mn)
Exch. Market Cap. (QR mn)
Volume (mn)
Number of Transactions
Companies Traded
Market Breadth
10:00
10:30
11:00
11:30
12:00
12:30
13:00
Qatar Commentary
The QE index declined 0.1% to close at 11,839.5. Losses were led by the Real
Estate and Telecoms indices, declining 1.7% and 0.8% respectively. Top losers
were United Development Co. and Al Khaleej Takaful Group, falling 4.2% and
3.6% respectively. Among the top gainers, Mesaieed Petrochemical Holding
Co. rose 450.0%, while Qatar General Ins. & Rein. Co. rose 4.7%.
Close
Total Return
All Share Index
Banks
Industrials
Transportation
Real Estate
Insurance
Telecoms
Consumer
Al Rayan Islamic Index
1D%
WTD%
YTD%
TTM P/E
17,083.81
2,958.63
2,859.39
3,968.32
2,049.73
2,041.26
2,891.20
1,603.64
6,726.23
3,373.92
(0.1)
(0.2)
(0.1)
(0.5)
0.1
(1.7)
3.7
(0.8)
(0.5)
(0.1)
0.0
(0.1)
(0.1)
1.3
(2.6)
(1.7)
0.6
(1.5)
(0.9)
(0.4)
15.2
14.3
17.0
13.4
10.3
4.5
23.8
10.3
13.1
11.1
N/A
14.3
14.6
14.8
14.1
14.0
7.0
21.6
25.8
17.4
GCC Commentary
GCC Top Gainers##
Exchange
Close#
1D%
Saudi Arabia: The TASI index fell marginally to close at 9,058.5. Losses were
led by the Real Estate Development and Hotel & Tourism indices, declining
1.4% and 1.0% respectively. Alkhaleej Training and Education Co. fell 4.2%,
while Dar Alarkan Real Estate Development Co. was down 2.9%.
Abu Dhabi Nat. Ins. Co.
Abu Dhabi
7.00
7.7
5.9
18.6
Comm. Bank of Dubai
Dubai
6.30
5.0
500.0
32.9
Bank Al-Jazira
Saudi Arabia
39.00
4.8
6,937.0
3.7
Qatar Gen. Ins. & Rein.
Qatar
49.30
4.7
0.5
2.9
Qatar Insurance Co.
Qatar
67.50
4.3
26.8
26.9
Dubai: The DFM index gained marginally to close at 4,198.1. The Real Estate
& Construction index rose 0.7%, while other indices remained unchanged or
negative. Al Salam Sudan gained 5.8%, while CBD was up 5.0%.
Abu Dhabi: The ADX benchmark index rose 0.5% to close at 4,985.5. The
Investment & Financial Services gained 2.9%, while the Insurance index was
up 2.4%. National Takaful Co. rose 9.6%, while Abu Dhabi National Insurance
Co. was up 7.7%.
##
GCC Top Losers
Exchange
Arab Banking Corp.
Bahrain
Kuwait: The KSE index was closed on February 26, 2014.
United Development
Qatar
Oman: The MSM index rose marginally to close at 7,102.8. Industrial Index
gained 0.1%, while all other sub indices ended in red. National Gas rose 9.7%,
while Al Sharqia Investment Holding was up 5.6%.
Emirates NBD
Gulf Warehousing Co.
Dar Al Arkan
#
Bahrain: The BHB index declined 0.6% to close at 1,377.5. The Investment
index fell 2.2%, while the Industrial was down 1.7%. Arab Banking Corporation
declined 7.1%, while Aluminum Bahrain was down 1.8%.
Qatar Exchange Top Gainers
Mesaieed Petrochemical Holding
Qatar General Ins. & Rein. Co.
YTD%
0.52
(7.1)
654.0
38.7
21.90
(4.2)
2,325.9
(3.1)
Dubai
8.05
(4.2)
162.4
26.8
Qatar
41.55
(3.1)
0.2
0.1
Saudi Arabia
11.85
(2.9)
71,661.4
20.3
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)
Close*
1D%
Vol. ‘000
YTD%
Close*
1D%
Vol. ‘000
YTD%
55.00
450.0
11,005.6
450.0
United Development Co.
21.90
(4.2)
2,325.9
(3.1)
Al Khaleej Takaful Group
37.25
(3.6)
5.9
2.1
49.30
4.7
0.5
2.9
Qatar Exchange Top Losers
67.50
Al Khaliji
4.3
26.8
26.9
Gulf Warehousing Co.
41.55
(3.1)
0.2
0.1
2.7
4.0
18.4
Salam International Investment
12.31
(3.0)
121.7
(5.4)
21.33
Mannai Corp.
2.6
46.4
6.7
QNB Group
193.30
(1.5)
262.0
12.4
Qatar Exchange Top Val. Trades
Close*
1D%
Val. ‘000
YTD%
55.00
450.0
674,414.7
450.0
197.00
(0.6)
94,369.0
16.6
21.90
(4.2)
51,225.9
(3.1)
193.30
(1.5)
50,923.5
12.4
32.45
(0.5)
27,475.3
8.9
Close*
1D%
Vol. ‘000
YTD%
Mesaieed Petrochemical Holding
55.00
450.0
11,005.6
450.0
United Development Co.
21.90
(4.2)
2,325.9
(3.1)
Barwa Real Estate Co.
32.45
(0.5)
844.2
8.9
Vodafone Qatar
12.20
0.1
590.7
13.9
Qatar Gas Transport Co.
21.72
(0.6)
569.6
7.3
Qatar Exchange Top Vol. Trades
Mesaieed Petrochemical Holding
Industries Qatar
United Development Co.
Qatar National Bank
Barwa Real Estate Co.
Source: Bloomberg (* in QR)
Source: Bloomberg (* in QR)
Qatar*
Dubai
Abu Dhabi
Saudi Arabia
Kuwait#
Oman
Bahrain
1D% Vol. ‘000
YTD%
106.40
Qatar Insurance Co.
Regional Indices
Close
Vol. ‘000
Close
1D%
WTD%
MTD%
YTD%
11,839.46
4,198.07
4,985.49
9,058.54
7,692.75
7,102.77
1,377.53
(0.1)
0.0
0.5
(0.0)
(0.5)
0.0
(0.6)
(0.3)
0.4
1.4
0.8
(0.6)
(0.9)
0.9
6.1
11.3
6.7
3.4
(0.8)
0.2
6.4
14.1
24.6
16.2
6.1
1.9
3.9
10.3
Exch. Val. Traded
($ mn)
298.29
416.88
138.86
2,234.02
93.35
25.38
2.26
Exchange Mkt.
Cap. ($ mn)
189,594.5
84,070.5
138,240.0
493,995.3
111,758.5
25,475.3
51,823.8
P/E**
P/B**
15.1
18.0
13.5
18.2
15.7
11.0
9.6
2.0
1.6
1.7
2.2
1.2
1.6
0.9
Dividend
Yield
4.0
1.9
3.6
3.3
3.7
3.6
3.5
Source: Bloomberg, Qatar Exchange, Tadawul, MSM, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) (# Data as of February 24, 2014)
Page 1 of 6

2. Qatar Market Commentary
 The QE index declined 0.1% to close at 11,839.5. The Real
Estate and Telecoms indices led the losses. The index rose on
the back of buying support from non-Qatari shareholders despite
selling pressure from Qatari shareholders.
Overall Activity
Sell %*
Net (QR)
Qatari
75.79%
79.62%
(41,611,053.22)
Non-Qatari
 United Development Co. and Al Khaleej Takaful Group were the
top losers, falling 4.2% and 3.6% respectively. Among the top
gainers, Mesaieed Petrochemical Holding Co. rose 450.0%,
while Qatar General Ins. & Rein. Co. rose 4.7%.
Buy %*
24.21%
20.37%
41,611,053.22
Source: Qatar Exchange (* as a % of traded value)
 Volume of shares traded on Wednesday rose by 41.2% to
18.7mn from 13.2mn on Tuesday. Further, as compared to the
30-day moving average of 13.0mn, volume for the day was
44.1% higher. Mesaieed Petrochemical Holding and United
Development Co. were the most active stocks, contributing
58.9% and 12.5% to the total volume respectively.
Earnings and Global Economic Data
Earnings Releases
Company
Revenue
(mn) 4Q2013
% Change
YoY
Operating Profit
(mn) 4Q2013
% Change
YoY
Net Profit (mn)
4Q2013
% Change
YoY
AED
716.6
28.7%
–
–
123.3
23.9%
Bahrain
BHD
17.3
35.9%
–
–
6.3
41.9%
Bahrain
BHD
4.5
-16.1%
–
–
1.0
-29.3%
Market
National Corporation for
Tourism and Hotels *
Bahrain Cinema Co. *
The Bahrain Ship Repairing
and Engineering Co. *
Currency
Abu Dhabi
Source: Company data, DFM, ADX, MSM (*FY2013 Results)
Global Economic Data
Date
Market
Source
Indicator
Period
Actual
Consensus
Previous
02/26
US
MBA
MBA Mortgage Applications
21-February
02/26
US
US Census Bureau
New Home Sales
January
-8.50%
–
-4.10%
468K
400K
02/26
US
US Census Bureau
New Home Sales MoM
January
427K
9.60%
-3.40%
-3.80%
02/26
Germany
GfK AG
GfK Consumer Confidence
March
8.5
8.2
8.3
02/26
UK
ONS
GDP QoQ
4Q2013
0.70%
0.70%
0.70%
02/26
UK
ONS
GDP YoY
4Q2013
2.70%
2.80%
2.80%
02/26
UK
ONS
Government Spending QoQ
4Q2013
0.30%
0.50%
0.60%
02/26
UK
ONS
Exports QoQ
4Q2013
0.40%
0.20%
-2.80%
02/26
UK
ONS
Imports QoQ
4Q2013
-0.90%
-1.00%
0.70%
02/26
UK
ONS
Index of Services MoM
December
0.20%
0.40%
0.50%
02/26
UK
ONS
Index of Services 3M/3M
December
0.80%
0.80%
0.90%
02/26
UK
ONS
Total Business Investment QoQ
4Q2013
2.40%
1.30%
2.00%
02/26
UK
ONS
Total Business Investment YoY
4Q2013
8.50%
–
-2.40%
02/26
Spain
INE
Total Mortgage Lending YoY
December
-26.30%
–
-26.90%
02/26
Spain
INE
House Mortgage Approvals YoY
December
-30.10%
–
-27.40%
02/26
Italy
ISTAT
Hourly Wages MoM
January
0.60%
–
0.00%
02/26
Italy
ISTAT
Hourly Wages YoY
January
1.40%
–
1.30%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatar bourse to see QR5bn inflows after MSCI upgrade –
The Qatar Exchange (QE) expects as much as QR5bn worth of
foreign funds to flow in after its upgrade by MSCI to emerging
market status in June 2014. QE’s Acting Chairman Dr Hussain
Ali al-Abdullah said the bourse, which is slated to see more
listings in future, could soon witness the advent of exchange
traded funds. Dr Hussain added that around QR3bn to QR5bn is
expected to come from foreign investors to Qatar, after the
market upgrade. Last year, global index compiler MSCI had
upgraded Qatar and the UAE to emerging market from frontier
status. (Gulf-Times.com)
 MPHC shares jump to QR55 on debut – Mesaieed
Petrochemical Holding Company (MPHC) shares witnessed
impressive buying interest, apparently from local retail investors.
MPHC constituted more than 60% of the bourse’s total value
traded yesterday. (Gulf-Times.com)
 QNNS’ net income down 16% and 13% QoQ and YoY,
respectively – QNNS posted a net profit of QR172mn in
4Q2013, declining by 16% QoQ. One of the main reasons for
the drop in profitability was due to a slowdown in Milaha
Maritime & Logistics divisions. On the positive side, the
company declared a cash dividend of QR5.00/share (DY: 5.2%)
vs. QR3.50/share in 2012. (QNNS Press Release, QNBFS
Research)
Page 2 of 6

3.  UDCD posts a net loss of QR183mn in 4Q2013 – The United
Development Company's (UDCD) posted a net loss of
QR183mn in 4Q2013. The loss is primarily due to loss from
share of associates. According to the 2013 annual report
footnote, “Middle East Dredging Company Q.S.C. (the
associate) is involved in project related dredging and
reclamation activities in the Gulf states and other neighboring
countries. The associate sustained losses relating to the Satah
Al Razboot (SARB) Project. The project has been characterized
by various delays and difficulties resulting in a cost overrun on
the part of the associate. The management of the associate has
submitted a claim to the counterparty in an effort to recover a
portion of the cost overruns and the settlement amount is under
negotiation. As a result the 45.9% equity holding in the
associate is impaired in full as at 31 December 2013”. We note
that the SARB project is based in Abu Dhabi and the carrying
value of the firm was QR263.8mn in 2012. For FY2013 UDCD’s
revenue reached QR2,081.3mn, down by 23.8% YoY as
compared to QR2,730.9mn in 2012. The company’s FY2013 net
profit decreased by 55.8% YoY to QR322.8mn. EPS amounted
to QR0.96 for 2013 as compared to QR2.17 in 2012. Meanwhile,
UDCD's board of directors has recommended a cash dividend of
10%, which translates into QR1.00 per share (same as last
year), in addition to 5% bonus shares. (QE, Gulf-Times.com)
 AKHI posts net profit of QR66mn in 2013 – Al Khaleej Takaful
Group (AKHI) posted a net profit of QR66mn in 2013 vs.
QR78.2mn in 2012. EPS was QR3.87 in 2013 compared to
QR5.50 in 2012. The Board of Directors recommended 30%
bonus shares 30% with the results (QR1.00 and 20% stock
dividend in 2012). (QE)
 QOIS posts net profit of QR19.8mn in 2013 – Qatar Oman
Investment Company (QOIS) posted a net profit of QR19.8mn
2013 vs. QR18.8mn in 2012. EPS was QR0.629 in 2013
compared to QR0.596 in 2012. The Board of Directors
recommended cash dividends of QR0.60 per share (QR0.50 in
2012). (QE)
 QCB to issue T-bills worth QR4bn – The Qatar Central Bank
(QCB) will issue treasury bills for periods of three, six and nine
months on March 4, 2014. The total amount of issuance is worth
QR4bn. (QCB)
 QEWS’ AGM approves 75% dividend – Qatar Electricity &
Water Company’s (QEWS) AGM approved the distribution of
profits of 75% dividend from the original share value. One bonus
share will be issued for every ten shares held. (QE)
 CBQK’s AGM, EGM to be held on March 16 – The
Commercial Bank of Qatar’s (CBQK) announced that its AGM
and EGM will be held on March 16, 2014 at Commercial Bank
Plaza located on Al Markhiyah Street. The agenda includes
board’s approval for increasing the bank’s capital from
QR2,474.5mn to QR2,969.4mn by issuing one bonus share to
its shareholders for every five shares held, and authorize the
board to dispose of fractional shares. (QE)
 ABQK approves agenda, 30% bonus shares – Ahli Bank’s
(ABQK) AGM has approved its board’s proposal to distribute
free shares among its shareholders by an amount of 30% of the
bank’s capital. Hence, ABQK approved increasing the bank’s
capital by adding 38,122,501 free shares, so that the capital
rises to 165,197,503 shares. (QE)
 BRES closes candidacy for board membership for 20142016 – Barwa Real Estate Company’s (BRES) announced the
closure of nominations for its board of directors for the new term
of three years (2014-2016). (QE)
 QGRI’s AGM, EGM to be held on March 16 – Qatar General
Insurance & Reinsurance Company (QGRI) announced that its
AGM and EGM are scheduled to be held on March 16, 2014.
The agenda includes the board’s proposal to increase the
company’s capital by 20% by giving bonus shares equivalent to
one new share for every five existing shares. With this, QGRI’s
capital will be raised to QR691.8mn from QR576.5mn. (QE)
 Official holiday for Qatar Exchange on March 2 – The Qatar
Exchange (QE) will be closed on March 2, 2014 due to an
official holiday declared by the Qatar Central Bank. Trading on
the exchange will resume on March 3, 2014. (QE)
 Lusail Expressway to be ready by 2016 – Ashghal’s Senior
Civil Engineer Mohamed Eissa Shamya said that the authority
has completed 18% of its overall work on the Lusail Expressway
project and expects it to be ready by 4Q2016. Shamya stated
that the project includes the reconstruction of the current Lusail
Expressway south of the former Arch roundabout to the northern
canal corridor. It consists of a 5.3-kilometer long four-lane
highway in addition to extra lanes to facilitate traffic between
intersections. The project includes three major interchanges: the
Wahda Interchange; the Onaiza Interchange, which will be a
complete free-flow interchange built on three levels; and the
Pearl Interchange that will become a three-level interchange to
provide a visually appealing access to Pearl Qatar. (GulfTimes.com)
International
 UK recovery broadens due to long-awaited investment –
Britain's economic recovery broadened in the last three months
of 2013, driven by a pick-up in business investment and trade,
which will hearten the Bank of England and the government.
Consumer spending and a turnaround in the housing market
have been the main drivers behind Britain's surprisingly rapid
upturn, which started last year. However, recent data suggested
a more balanced recovery may be building, little more than a
year before a general election. The Office for National Statistics
said the UK’s GDP rose by 0.7% in the fourth quarter, which is
in line with forecasts and its earlier estimate. That rise capped
off the fastest rate of full-year growth since the financial crisis.
(Reuters)
 French jobless figure rises to record in January – The
number of people out of work in France rose by 8,900 in
January to reach a record level, with President Francois
Hollande's goal of taming unemployment eluded him yet again.
The Labor Ministry’s data showed that the number of people
registered as jobless reached 3,316,200 in mainland France, up
0.3% MoM and 4.4% YoY. With this, Hollande's popularity has
plummeted to record lows, since he failed to live up to his
pledge to reduce unemployment by the end of 2013, in the face
of a weak recovery in the Eurozone's second-biggest economy.
(Reuters)
 China lifts FC deposit rates cap in Shanghai FTZ – In a
move to further liberalize foreign currency (FC) deposits, China's
central bank said it will remove interest rate ceilings on smaller
foreign currency deposits in Shanghai Free Trade Zone (FTZ)
from March 1 as part of its long-anticipated financial reforms.
The People's Bank of China said deposits worth less than $3mn
owned by businesses and individuals registered in the FTZ will
receive the same rate of interest. Currently, regulatory caps
apply to one-year or other shorter-term deposits in US dollars,
Japanese yen, Euros and Hong Kong dollars. Deposits worth
more than $3mn are not subject to ceilings. Last year, China
launched the Shanghai FTZ as a part of its new set of fiscal
reforms to halt the slowdown and revitalize its economy. (ET)
Page 3 of 6

4. Regional
 Saudi CMA approves ASLAK’s capital rise – The Saudi
CMA’s board has approved the United Wire Factories
Company’s (ASLAK) request to increase its capital from
SR390mn to SR438.8mn by issuing one bonus share for every
eight existing shares. This increase will be paid by transferring
an amount of SR48.8mn from the retained earnings account.
Consequently, the company's outstanding shares will increase
from 39mn to 43.9mn shares. Eligibility for the bonus shares is
limited to those shareholders who are registered at the close of
trading on the day of the extraordinary general assembly, which
will be determined later. (Tadawul)
 AIG proposes SR129.7mn cash dividend for 2013 – Astra
Industrial Group’s (AIG) board of directors has proposed the
distribution of cash dividend worth SR129.7mn to its
shareholders for 2013. The dividend per share will be SR1.75,
representing 17.5% of the par value. Those shareholders who
are registered with the Securities Depository Center on the day
of the general assembly will be eligible for this dividend (to be
announced). (Tadawul)
 Bahri receives dry bulk vessel Bahri Wafi – The National
Shipping Company of Saudi Arabia (Bahri) announced that its
subsidiary Bahri Dry Bulk has received a dry bulk vessel named
Bahri Wafi from a Japanese shipyard. This is the fourth vessel
delivered among the five vessels that were contracted in 2012.
These vessels have a capacity of 82,000dwt and a length of 229
meters, consuming less fuel and ecofriendly. The last vessel
under construction is expected to be delivered in 1H2014. The
financial impact of the delivered vessel will materialize during
1Q2014. (Tadawul)
 APC declares SR204.99mn cash dividends for 2H2013 –
Advanced Petrochemical Company’s (APC) board of directors
approved to distribute cash dividends of SR204.99mn for
2H2013 by SR1.25 per share, which represents 12.5% of the
share capital. Shareholders who are registered with the
company at the end of trading on the day of the fifth
extraordinary general assembly shall be eligible for this
dividend. This brings the total earnings to SR368.89mn for the
year ended December 31, 2013, indicating SR2.25 per share.
(Tadawul)
 SCCI: 96% of Sharjah firms optimistic – The Sharjah
Chamber of Commerce & Industry (SCCI), in collaboration with
Dun & Bradstreet, released the first Sharjah Chamber Business
Confidence Survey, which found that 96% of businesses in the
Emirate expect the overall business situation to either improve
or maintain its current level over the coming months. The
Sharjah Chamber Business Confidence Index stands at 137.6
points in 1Q2014, indicating positive and rising sentiments
among the business community. The Sharjah Chamber
Business Confidence Survey and its accompanying business
confidence indices are expected to become important tools for
businesses and policymakers to forecast the short-term
economic growth in the Emirate. (GulfBase.com)
 UAE’s loan growth exceeds 7% in 2013 – According to the
UAE Central Bank, bank lending in the UAE grew 7.1% YoY in
2013. Bank loans grew at their fastest pace since 4Q2009,
reaching 7.1% YoY in December 2013. However, loans &
advances rose just 0.3% on a MoM basis after a big jump in
November. The acceleration in credit growth averaged 5.5%
through 2013 (compared with average 2.7% in 2012), providing
further evidence of the broader economic expansion in the UAE
last year, although private sector credit growth remains lower
than in Saudi Arabia and Qatar. (Bloomberg)
 MAG Group invests AED15bn in UAE – Dubai-based MAG
Group said that it is investing up to AED15bn in Dubai and the
rest of the UAE. The group’s projects include a residential
development worth AED2bn, located in the Meydan district,
which features 106 townhouses and 29 five-storey apartment
buildings. MAG Group also expects to launch a AED750mn
residential project in Sharjah, a AED700mn Art Centre in Barsha
and a AED865mn City of Arabia residential project. (Bloomberg)
 Cars Taxi enters Qatari market – Dubai-based Cars Taxi is set
to expand its operations by driving into Qatar in the next quarter.
Cars Taxi’s Group Executive Director Abdulla Sultan Al
Sabbagh said the company will start its operations in the Gulf
country in May 2014 with 300 taxis and will expand its fleet by
another 200 by the end of June. The company has operations in
Singapore, Malaysia, India and Bahrain. (Bloomberg)
 Dubai launches 2 more Halal Zones – Economic Zones World
(EZW), in collaboration with Dubai Islamic Economy
Development Centre (DIEDC), announced a plan to develop two
Halal Zones, specifically designed to cater to the Halal product
markets. Earlier this week, Dubai Industrial City, a member of
Tecom Investments, also announced the launch of Halal Cluster
at Gulfood exhibition. (Bloomberg)
 Arabtec denies plans to acquire Kuwait's Kharafi National –
Dubai-based builder Arabtec denied that it planned to acquire
Kuwaiti construction firm Kharafi National. According to sources,
Arabtec had been in talks with Kharafi National – a part of the
Kharafi Group – to fully acquire the company. (Reuters)
 ADPC signs deal with Etihad Rail – Abu Dhabi Ports
Company (ADPC) has signed a deal with Etihad Rail to provide
the framework for an integrated bulk and container railway
terminal facility to be built at the Khalifa Port. The 1,200
kilometers long Etihad Rail network will complement ADPC’s
transportation and industrial infrastructure interlinking its
facilities, Khalifa Industrial Zone Abu Dhabi (Kizad) and the
adjacent Khalifa Port. After it is integrated with ADPC’s
infrastructure, the railway network will offer an enhanced
transportation system to logistics companies, combining sea,
road and rail transport. The network will also form a vital part of
a wider GCC railway network, connecting the UAE with Bahrain,
Kuwait, Oman, Qatar and Saudi Arabia. (Bloomberg)
 HSBC Bank Oman approves CEO transition plans – HSBC
Bank Oman’s board of directors has approved the transition
plans for the bank’s Chief Executive Officer as part of the
succession plans for senior executives. Mr. Ewan Stirling will
take on a new role as Head of UK Transformation with the
HSBC Group based in London. A senior and well-experienced
successor has been identified from within the HSBC Group.
These appointments will be effective only on regulatory approval
and following HSBC Bank Oman’s Annual General Meeting.
(MSM)
 BEDB: Bahrain attracts 35 foreign investments in 2013 –
Bahrain Economic Development Board (BEDB) revealed that 35
new international businesses established operations in the
Kingdom in 2013 as a result of direct outreach activities carried
out by the BEDB. This is in line with BEDB’s efforts to promote
Bahrain’s business environment and to attract more FDI to the
Kingdom. In 2013, the BEDB attracted $114mn worth of foreign
investment into the country from North America, Europe and
Asia – a 12% rise over 2012. This boost will help create around
800 jobs in the Kingdom over the next three years across a
range of sectors, including financial and professional services,
logistics, manufacturing and healthcare. (GulfBase.com)
Page 4 of 6

5.  CINEMA declares 50% cash dividend – Bahrain Cinema
Company’s (CINEMA) board of directors has recommended a
cash dividend of 50% (20% bonus share) to its shareholders
who are registered on the date of the AGM & EGM. (Bahrain
Bourse)
Page 5 of 6

6. Rebased Performance
Daily Index Performance
180.0
170.0
160.0
150.0
140.0
130.0
120.0
110.0
100.0
90.0
80.0
1.0%
0.5%
0.5%
144.4
(0.0%)
(0.5%)
S&P Pan Arab
Dec-13
S&P GCC
Source: Bloomberg
Asset/Currency Performance
Gold/Ounce
Silver/Ounce
Crude Oil (Brent)/Barrel (FM
Future)
Natural Gas (Henry
Hub)/MMBtu
North American Spot LPG
Propane Price
North American Spot LPG
Normal Butane Price*
Euro
Source: Bloomberg (*Market Closed on February 26, 2014)
Close ($)
1D%
WTD%
YTD%
1,330.57
(0.8)
0.5
10.4
21.24
(2.8)
(2.8)
9.1
109.52
0.0
(0.3)
4.84
(7.3)
116.75
Global Indices Performance
Close
1D%
WTD%
YTD%
16,198.41
0.1
0.6
(2.3)
S&P 500
1,845.16
0.0
0.5
(0.2)
(1.2)
NASDAQ 100
4,292.06
0.1
0.7
2.8
(22.1)
11.4
STOXX 600
337.70
(0.2)
0.5
2.9
(3.7)
(13.7)
(7.7)
DAX
9,661.73
(0.4)
0.0
1.1
123.00
0.0
(4.3)
(9.4)
FTSE 100
6,799.15
(0.5)
(0.6)
0.7
DJ Industrial
1.37
(0.4)
(0.4)
(0.4)
CAC 40
102.38
0.1
(0.1)
(2.8)
Nikkei
GBP
1.67
(0.1)
0.3
0.7
MSCI EM
CHF
1.12
(0.4)
(0.3)
0.3
SHANGHAI SE Composite
AUD
0.90
(0.6)
(0.1)
0.6
USD Index
80.43
0.4
0.2
RUB
36.02
1.0
1.4
BRL
0.43
(0.4)
(0.2)
0.6
Yen
Dubai
May-13
Oman
Oct-12
Abu Dhabi
QE Index
Mar-12
(0.6%)
Bahrain
Aug-11
(0.1%)
Kuwait *
(1.0%)
Jan-11
0.0%
0.0%
0.0%
0.0%
Qatar
131.5
Saudi Arabia
Jun-10
170.1
4,396.91
(0.4)
0.4
2.4
14,970.97
(0.5)
0.7
(8.1)
956.26
0.1
(0.3)
(4.6)
2,041.25
0.3
(3.4)
(3.5)
HANG SENG
22,437.44
0.5
(0.6)
(3.7)
0.5
BSE SENSEX
20,986.99
0.6
1.4
(0.9)
9.6
Bovespa
46,599.21
(0.2)
(1.6)
(9.5)
1,286.07
(1.6)
(2.2)
(10.9)
Source: Bloomberg (*Market closed on February 26, 2014)
RTS
Source: Bloomberg
Contacts
Saugata Sarkar
Ahmed M. Shehada
Keith Whitney
Sahbi Kasraoui
Head of Research
Head of Trading
Head of Sales
Manager - HNWI
Tel: (+974) 4476 6534
Tel: (+974) 4476 6535
Tel: (+974) 4476 6533
Tel: (+974) 4476 6544
saugata.sarkar@qnbfs.com.qa
ahmed.shehada@qnbfs.com.qa
keith.whitney@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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