1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.6% to close at 13,149.6. Losses were led by the
Telecoms and Industrials indices, declining 2.1% and 0.8% respectively. Top
losers were Masraf Al Rayan and Vodafone Qatar, falling 2.7% and 2.2%
respectively. Among the top gainers, Salam International Investment Co. rose
7.0%, while Qatar German Co for Medical Devices gained 6.9%.
GCC Commentary
Saudi Arabia: The TASI index fell 0.1% to close at 9,853.5. The Media & Pub.
index declined 7.2%, while the Insurance index was down 3.5%. Tihama Advt.
& Pub. Relations fell 9.9%, while Sanad Ins. & Reins. Coop. was down 7.8%.
Dubai: The DFM index declined 2.5% to close at 4,972.8. The Services index
fell 7.0%, while the Real Estate & Construction index was down 3.4%. National
Central Cooling Co. declined 7.0%, while Arabtec Holding was down 6.7%.
Abu Dhabi: The ADX benchmark index fell 1.1% to close at 4,997.9. The
Energy index declined 3.6%, while the Real Estate index was down 2.6%. Nat.
Marine Dredging fell 9.6%, while Umm Al Qaiwain Cement was down 9.4%.
Kuwait: The KSE index fell 1.4% to close at 7,233.0. The Financial Services
index declined 2.2%, while the Technology index was down 2.1%. International
Resorts Co. fell 7.8%, while Gulf Glass Manufacturing Co. was down 7.6%.
Oman: The MSM index declined 0.1% to close at 6,945.5. Losses were led by
the Financial index declining 0.2%, while the other indices ended in green.
Dhofar Cattle Feed fell 6.1%, while Oman & Emi. Inv. Holding was down 2.0%.
Bahrain: The BHB index fell 0.5% to close at 1,453.6. The Services index
declined 1.9%, while the Commercial Banking index was down 0.6%. Bahrain
Telecommunications Co. fell 3.2%, while Nass Corporation was down 2.8%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Salam International Investment Co. 17.80 7.0 6,934.4 36.8
Qatar German Co for Medical Dev. 15.50 6.9 1,613.8 11.9
Qatar Insurance Co. 79.60 2.2 220.7 49.6
Qatar & Oman Investment Co. 15.90 2.0 5,053.3 27.0
Al Khaleej Takaful Group 43.00 1.9 338.7 53.1
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Salam International Investment Co. 17.80 7.0 6,934.4 36.8
Qatar & Oman Investment Co. 15.90 2.0 5,053.3 27.0
Ezdan Holding Group 23.50 (0.8) 2,852.6 38.2
Masraf Al Rayan 57.90 (2.7) 2,137.7 85.0
National Leasing 33.55 1.7 1,939.2 11.3
Market Indicators 08 Jun 14 05 Jun 14 %Chg.
Value Traded (QR mn) 932.6 1,227.4 (24.0)
Exch. Market Cap. (QR mn) 714,313.1 718,366.0 (0.6)
Volume (mn) 29.9 33.2 (10.0)
Number of Transactions 11,623 12,461 (6.7)
Companies Traded 41 43 (4.7)
Market Breadth 16:21 27:12 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 19,608.81 (0.6) (0.6) 32.2 N/A
All Share Index 3,316.35 (0.5) (0.5) 28.2 15.9
Banks 3,216.30 (0.4) (0.4) 31.6 16.0
Industrials 4,283.06 (0.8) (0.8) 22.4 16.7
Transportation 2,274.45 (0.5) (0.5) 22.4 14.6
Real Estate 2,808.67 0.3 0.3 43.8 14.1
Insurance 3,391.20 1.6 1.6 45.2 8.9
Telecoms 1,806.28 (2.1) (2.1) 24.2 24.9
Consumer 6,936.32 (0.2) (0.2) 16.6 27.3
Al Rayan Islamic Index 4,430.46 (0.5) (0.5) 45.9 19.2
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Etihad Atheeb Saudi Arabia 14.50 9.7 9,039.5 0.7
National Shipping Co. Saudi Arabia 35.98 4.8 8,796.0 27.6
Saudi Airlines Catering Saudi Arabia 185.03 4.4 152.6 30.8
Al Jouf Cement Saudi Arabia 20.30 3.4 13,761.3 15.3
Zamil Ind. Investment Saudi Arabia 62.38 2.8 1,463.6 43.4
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Tihama Saudi Arabia 234.75 (9.9) 187.2 113.9
Nat. Mar. Dred. Co. Abu Dhabi 7.26 (9.6) 3.2 (15.6)
Solidarity Saudi Saudi Arabia 21.22 (6.9) 5,525.7 (18.1)
Arabtec Holding Co. Dubai 6.00 (6.7) 121,097.9 192.7
Drake & Scull Int. Dubai 1.71 (5.0) 70,010.3 18.8
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 57.90 (2.7) 2,137.7 85.0
Vodafone Qatar 20.30 (2.2) 1,608.0 89.5
Islamic Holding Group 74.50 (2.1) 70.0 62.0
Ooredoo 150.40 (2.0) 24.9 9.6
Industries Qatar 180.00 (1.4) 213.1 6.6
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Masraf Al Rayan 57.90 (2.7) 126,890.5 85.0
Salam International Investment Co 17.80 7.0 122,469.2 36.8
Qatar & Oman Investment Co. 15.90 2.0 81,016.7 27.0
Barwa Real Estate Co. 42.75 1.1 71,316.0 43.5
Ezdan Holding Group 23.50 (0.8) 68,283.3 38.2
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* 13,149.55 (0.6) (0.6) (4.0) 26.7 256.14 196,221.8 16.4 2.2 3.8
Dubai 4,972.78 (2.5) (2.5) (2.3) 47.6 430.25 98,186.1 20.0 2.0 2.1
Abu Dhabi 4,997.86 (1.1) (1.1) (4.9) 16.5 112.35 139,012.7 14.7 1.9 3.3
Saudi Arabia 9,853.51 (0.1) (0.1) 0.3 15.4 3,135.23 532,987.8 19.6 2.4 2.9
Kuwait 7,233.00 (1.4) (1.4) (0.8) (4.2) 82.02 113,612.7 15.1 1.1 3.8
Oman 6,945.53 (0.1) (0.1) 1.3 1.6 10.47 25,177.9 12.7 1.7 3.8
Bahrain 1,453.61 (0.5) (0.5) (0.4) 16.4 0.31 53,825.1 10.5 1.0 4.7
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
13,100
13,150
13,200
13,250
13,300
13,350
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 QE index declined 0.6% to close at 13,149.6. The Telecoms
and Industrials indices led the losses. The index fell on the back
of selling pressure from Qatari shareholders despite buying
support from non-Qatari shareholders.
 Masraf Al Rayan and Vodafone Qatar were the top losers, falling
2.7% and 2.2% respectively. Among the top gainers, Salam
International Investment Co. rose 7.0%, while Qatar German Co.
for Medical Devices gained 6.9%.
 Volume of shares traded on Sunday fell by 10.0% to 29.9mn
from 33.2mn on Thursday. However, as compared to the 30-day
moving average of 27.9mn, volume for the day was 7.1% higher.
Salam International Investment Co. and Qatar & Oman
Investment Co. were the most active stocks, contributing 23.2%
and 16.9% to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Ratings
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
The Saudi
Investment Bank
(SAIB)
CI
Saudi
Arabia
FSR/LT FCR/ST FCR A-/A/A2 A-/A/A2 – Positive –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Currency Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC
– Local Currency)
News
Qatar
 Barwa Bank client base exceeds 14,000 in 2013 – According
to Barwa Bank’s Chairman Sheikh Mohamed bin Hamad bin
Jassim al-Thani, the bank’s client base exceeded 14,000 in
2013. He said that the banking group generated revenue
through more balanced streams and quality based earnings.
Business income of the banking group was driven by the quality
of the financing portfolio, additionally enhanced by the
outstanding performance of the Treasury and Investment
Division. The bank reinforced its presence and services in the
retail sector through its unique structure and network of
branches in Doha. (Gulf-Times.com)
 Ooredoo awarded Best Islamic Borrower – Ooredoo was
awarded "Best Islamic Borrower" at the annual EMEA Finance
Achievements Awards in London recently. Ooredoo won the
award for a variety of new activities undertaken in the Islamic
financing markets. It started with Ooredoo's first Commodity
Murabaha transaction in November 2012 and this was followed
by Ooredoo's inaugural $1.25bn sukuk in December 2013.
(Gulf-Times)
 QA to launch non-stop flights to Zagreb – Qatar Airways
(QA) has announced to offer non-stop flights from Doha to
Zagreb three times weekly from October 1, 2014. The new route
will increase seats to 240 business class and 2,640 Economy
class seats per week, an increase of 72 and 384 seats
respectively. QA will continue to fly the A320 aircraft direct to
and from the Croatian capital. (Bloomberg)
 Qatar reveals largest solar-power generating facility – Qatar
Solar Energy (QSE) has unveiled a first-of-its-kind solar panel
factory in the region with a capability to generate 300 megawatts
of energy a year. QSE also announced a three-phase plan to
eventually produce 2.5 gigawatts of solar energy annually.
(Bloomberg)
 QInvest wins Qatar’s Best Investment Bank award –
Investment bank, QInvest has been awarded as the “Best
Investment Bank” in Qatar at the Euromoney Awards for
Excellence 2014. This marked the third year in a row that
QInvest received the award. (GulfBase.com)
International
 Obama to issue order to ease student loan pressures – A
White House official said that US President Barack Obama will
issue an executive action on Monday aimed at making it easier
for young people to repay student loans. The president will sign
an order directing the Secretary of Education to ensure that
more students who borrowed federal direct loans be allowed to
cap their loan payments at 10% of their monthly incomes. The
official said the Federal law currently allows most students to do
this already. The president's order will extend this ability to
students who borrowed before October 2007 or those who have
not borrowed since October 2011. The administration says this
action will help up to 5mn more borrowers, although it will not be
available until December 2015. Faced with a Republican
majority in the House of Representatives that makes legislation
out of reach for most of his policy proposals, Obama has turned
to issuing executive orders to accomplish his agenda. (Reuters)
 IMF admits underestimating the rally in UK economy – The
International Monetary Fund (IMF) Managing Director Christine
Lagarde stated that it underestimated the strength of the UK
economy when warning against the government’s austerity
program. Lagarde said the UK economic outlook was now more
sustainable as investment joins consumption as an engine. She
reiterated that the strength of the UK housing market remains a
threat, although its rise was multi-faceted rather than an outright
boom. Distancing herself from a European Commission call for
higher taxes in the UK, Lagarde said that IMF does not
recommend a massive increase in tax. (Bloomberg)
 Japanese economy grows 6.7% in 1Q2014 on business
spending – The Cabinet Office said that Japan’s GDP grew at
an annualized 6.7% in 1Q2014, faster than a preliminary reading
of 5.9%. The economy grew at a quicker pace than estimated,
as business spending rose more than previously reported.
Increasing strength in business investment would help the
economy rebound from a forecasted contraction in 2Q2014 after
Overall Activity Buy %* Sell %* Net (QR)
Qatari 66.44% 69.27% (26,461,712.22)
Non-Qatari 33.56% 30.73% 26,461,712.22

3. Page 3 of 5
a sales-tax increase in April. Business investment rose 7.6%
from the previous quarter, revised up from a preliminary 4.9%
increase. Consumer spending climbed 2.2%, more than an initial
estimate of a 2.1% gains. While Japanese companies appear
more confident about the economy’s prospects, household
budgets are being squeezed by stagnant wages and rising
prices. (Bloomberg)
 China's exports gain steam in May but imports fall
unexpectedly – According to the data released by the General
Administration of Customs, China's exports rose 7% in May
2014 from a year earlier, quickening from April's 0.9% rise, while
imports fell 1.6%, versus a rise of 0.8% in April. Exports gained
steam in May thanks to a firmer global demand, but an
unexpected fall in imports signaled weaker domestic demand
that could continue to weigh on the world's second-largest
economy. The customs office said that China's trade surplus
widened sharply to $35.9bn in May from April's $18.5bn. China's
combined exports and imports edged up 0.2% in the first five
months on a YoY basis, trailing far behind the annual growth
target of 7.5%. (Reuters)
Regional
 GCC-Stat: GCC inflation ranges 1.5-2.8% in 12 months – A
report issued by the Statistical Centre for the Cooperation
Council of the Arab Countries of the Gulf (GCC-Stat) revealed
that inflation rates across the GCC region increased between
1.53% and 2.8% over a 12-month period through April 2014.
Qatar topped the list with an inflation rate of 2.8% for the same
period, followed by Kuwait with 2.72%, Saudi Arabia with 2.7%,
the UAE with 2.12%, Bahrain with 1.9%, and Oman with 1.53%.
(Bloomberg)
 $5.8bn merger between Sipchem, Sahara Petchem on hold
– Saudi International Petrochemical Company (Sipchem) and
Sahara Petrochemicals Company have put their planned merger
on hold, which would have created a company with about
$5.8bn in market value. The companies reached a conclusion
that it is difficult to implement this merger under the current
regulatory framework using a structure acceptable to both
companies where both companies will continue to exist while
achieving operational integration. Earlier in December 2013,
Sipchem and Sahara had proposed a share-swap merger and
expected to sign a deal in 1H2014. (Tadawul, Reuters)
 BUPA Arabia declares SR20mn cash dividend – BUPA
Arabia for Cooperative Insurance Company’s AGM has
approved the board’s recommendation for the distribution of 5%
cash dividends (SR0.5 per share), amounting to SR20mn for the
year ended December 31, 2013. (Tadawul)
 Tadawul deposits Umm Al-Qura Cement IPO shares – The
Saudi Stock Exchange (Tadawul) has announced the addition of
Umm Al-Qura Cement Company’s IPO shares into respective
investors’ portfolios on June 8, 2014. Earlier, the Saudi Capital
Market Authority had allowed the company to float 27.5mn
shares at SR10 each, representing 50% of its capital in IPO.
(Tadawul)
 Kingdom to launch first SWF – Saudi Arabia is all set to
launch its first sovereign wealth fund (SWF) to manage budget
surpluses from a rise in crude oil prices estimated at billions of
dollars. Until now the country’s central bank has managed the
Kingdom’s foreign currency reserves. The Shura Council is
expected to meet this week to discuss a draft law for creating
the National Reserve Fund, which will start with capital
representing 30% of budgetary surpluses accumulated over the
years in the Kingdom. (GulfBase.com)
 Saudi Hollandi to boost hiring as it opens more branches –
Saudi Hollandi Bank, which is 40% owned by ABN Amro
Holding, said it expects to boost hiring in Saudi Arabia as it
opens more branches. The bank’s Managing Director Bernd van
Linder said that they were able to open eight branches around
the Kingdom over the last year and expects to open five to six
branches more before the end of this year. (Gulf-Times.com)
 UAE CB finds Dubai, Abu Dhabi property markets
overheating – According to the UAE Central Bank, the real
estate market in the UAE may be overheating and rental yields
in its two richest Emirates indicate growing imbalances. The
central bank said in its 2013 Financial Stability Report that the
average sale prices in Abu Dhabi and Dubai have risen faster
than rents, and such deviations can identify imbalances in the
housing market. The average rental yield in Dubai is about 70
basis points below the historical average and those in Abu
Dhabi are 130 basis points lower. While the recovery of rental
prices started at least a few months before the sale prices had
bottomed, rent growth was significantly lower than the increase
in prices. The bank said that these discrepancies could indicate
an overheating real estate market. (Gulf-Times.com)
 UAE, Russia sign MoU for economic ties – The UAE and
Russia have signed a MoU to extend bilateral relations to wider
horizons through exploring new economic and investment
opportunities in different development sectors. The volume of
trade exchange between the UAE and Russia has tripled over
the past 10 years. It surged more than $3bn during 2013
growing at 90% as compared to 2012. (GulfBase.com)
 UAE deal to fund Egypt development projects – The UAE
and Egypt had contracted a state-run company headed by a
retired Egyptian army officer to build wheat silos that are a key
part of the UAE's $4.9bn aid package to Cairo. In order to
support Egypt, the UAE is funding a range of development
projects including the wheat silo-building effort, which could help
the world's biggest wheat importer to lower its huge food import
bill. Earlier in October 2013, the UAE pledged to build a total of
25 wheat silos with a storage capacity of 1.5mn tons to help
prevent the loss of billions of dollars worth of wheat per year.
(GulfBase.com)
 NBS: UAE growth accelerates to 5.2% in 2013 – According to
National Bureau of Statistics (NBS), the UAE's economic growth
accelerated to 5.2% in 2013 from 4.4% in 2012. The
development of oil output and a stable level of oil prices in 2013,
when the average oil price reached nearly $108 per barrel were
the most important factors contributing to the improvement in
GDP growth. (Reuters)
 UAE Central Bank to introduce stricter capital, liquidity
rules – According to the 2013 Financial Stability Report, the
Central Bank of the UAE will introduce stricter capital
requirements and liquidity regulations on par with international
best practices. These changes will require banks to hold more
higher-quality capital as a buttress against systemic stress. The
changes fall in line with Basel III rules, a set of voluntary capital
adequacy standards introduced in response to the global
financial crisis. The central bank said that new liquidity
regulations are also planned in 2H2014, which will require banks
to hold adequate high-quality liquid assets to cope with a crisis.
(Bloomberg)
 UAE, Maldives sign customs agreement – The UAE and
Maldives have signed a customs agreement to cooperate on
removing trade barriers between them through the exchange of
data and expertise on consignments, customs policies and
training on inspection & procedures. Between 2009 and 2013,
trade between the UAE and the Maldives reached AED943mn,

4. Page 4 of 5
of which UAE’s exports to the Maldives stood at AED926.6mn,
while its imports from the island nation stood at AED16.5mn.
(Bloomberg)
 Alitalia could face 2,200 job cuts due to Etihad tie-up –
Italian airline Alitalia's CEO Gabriele Del Torchio expects around
2,200 jobs to be lost under a planned tie-up with Gulf carrier
Etihad Airways. Gabriele Del Torchio said Etihad is inflexible on
job cuts. Alitalia and Etihad have been in talks since December
2013, but a deal has so far proved elusive due to Italy's
reluctance to bow to Etihad's demands for job cuts and a
restructuring of the Italian airline's debt. (Reuters)
 Burj 2020 District work to start in 2015 – Four global design
firms are taking part in the master plan design tender for the
new Burj 2020 District, which will have the world’s tallest
commercial tower, the Burj 2020 as its centerpiece. The ground
breaking for the Burj 2020 District is planned for 2015. The
master plan aims to enhance the very essence of the Burj 2020
District by creating an efficient and vibrant world-class urban
business destination to showcase a blend of contemporary and
traditional master planning. The master plan will also include
transport and traffic flow solutions to create a swift journey to
and from the area. (GulfBase.com)
 Damac launches first project on Akoya Drive – Damac
Properties has launched the first units on Akoya Drive, including
the first hotel from NAIA by Damac. NAIA Luxury Hotel rooms
are being made available for investment at a starting price of
AED680,000, which are expected to be completed in 1Q2018. In
addition to the NAIA Hotel, the second building will feature NAIA
Hotel Apartments’ managed by NAIA by Damac, offering
spacious living, with tastefully furnished interiors and fully fitted
kitchens. (GulfBase.com)
 Emirates AquaTech receives US FDA nod to export fish –
Emirates AquaTech has received the US Food & Drug
Administration’s (US FDA) clearance to export the UAE’s first-
class Siberian YASA Caviar and sturgeon products to the US.
(AME Info)
 Etisalat’s EFM to promote awareness on sustainability –
Etisalat Facilities Management (EFM), a part of Emirates
Telecommunications Corporation (Etisalat) has announced a
strategic initiative that will see the company utilize eco-friendly
cleaning products in all its operations as part of its commitment
to promote public health, safety, and environmental awareness
of sustainable living. The programmed will see EFM phase out
conventional cleaning products in favor of those that are
environmentally friendly and free of health risks. This process
will take one year, and the company already started
implementing its strategic plan in the 2Q2014. (GulfBase.com)
 Dana Gas’ convertible Sukuk increase approved – Dana Gas
announced that competent authorities have approved the
increase of the company's share capital by AED19.62mn arising
out of conversion of voluntary conversion notices received
between April 16, 2014 and April 30, 2014, amounting to $4mn
of convertible Sukuk. (ADX)
 KNPC, KISR sign research agreement – Kuwait National
Petroleum Company (KNPC) and Kuwait Institute for Scientific
Research (KISR) have signed a research agreement for the
country’s new oil refinery project. The agreement would focus on
the effects of refining heavy crude oil on the machinery and units
to be installed in the project, which aims at providing
environment-friendly fuel resource to power stations in Kuwait.
(GulfBase.com)
 NBK: Kuwait’s current account surplus eases to $70bn –
According to National Bank of Kuwait (NBK), Kuwait’s current
account surplus has eased slightly to KD20.3bn in 2013,
following an all-time high of KD22.1bn in 2012. Financial
outflows also eased back from their record high in 2012 on the
back of a KD4.2bn reduction in government investments in
foreign currencies and deposits. The decline in the current
account surplus was primarily attributed to a KD1.3bn drop in
the balance of goods to KD25.4bn. The goods exports were
down 2% YoY to KD32.8bn, as oil exports fell as a result of
lower oil prices which were down 3% YoY in 2013. (Bloomberg)
 MNHC to invest OMR2mn in IPOs – Muscat National Holding
Company’s (MNHC) BoD has approved to subscribe in IPOs
with an investment of OMR2mn. The investment will be
distributed in the IPOs of Al Batinah Power Company, 7.8mn
shares at a value of OMR1mn, and Al Sawadi Power Company,
7.7mn shares at a value of OMR1.mn. (MSM)
 Bank Muscat mulls Oman brokerage business sale;
launches GCC property fund – Bank Muscat has requested
proposals from other brokerages in the Gulf state for sale of its
brokerage operations in Oman. Bank Muscat's share of Oman's
brokerage business fell to 10.6% in 2013 from 13.2% in 2012,
even as trading volumes on the country's exchange more than
doubled. The sale doesn't include the bank's brokerage
operations in Saudi. Meanwhile, the bank’s asset management
division has launched the Bank Muscat GCC Property Income
Fund to harness opportunities in the GCC property market. The
fund will invest in income yielding properties that generate a
stable annual yield of 7-8%. (Bloomberg)
 NCSI: Oman exports hit due to decline in oil revenue –
According to a report by National Centre for Statistics and
Information (NCSI), Oman's exports witnessed 8.1% decline in
value terms in January 2014 as compared to the same period in
2013. The total value of commodity exports amounted to
OMR1,764.7mn at the end of January 2014, against
OMR1,919.7mn for the same period in 2013. The fall was
attributed to 8.2% decline in oil and gas exports, which
amounted to OMR1,169mn at the end of January 2014,
compared to OMR1,274.1mn for the same period in 2013. The
value of the re-exported commodities also declined by 21.9% at
OMR249.1mn at the end of January 2014 as compared to
OMR319.1mn during the corresponding period in 2013.
However, the country's non-oil exports increased by 6.1% at the
end of January 2014 to OMR346.6mn compared to
OMR326.5mn during the corresponding period in 2013.
(GulfBase.com)

5. 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 sahbi.alkasraoui@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
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa 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
Financial Markets Authority and the Qatar Exchange; QNB 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. 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. While this publication has been prepared with the utmost degree of care by our analysts,
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. QNBFS reserves the
right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the
views and opinions included in this report.
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS.
Page 5 of 5
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
160.0
170.0
180.0
190.0
200.0
210.0
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
(0.1%)
(0.6%)
(1.4%)
(0.5%)
(0.1%)
(1.1%)
(2.5%)
(3.2%)
(2.4%)
(1.6%)
(0.8%)
0.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,253.25 0.0 0.0 3.9 DJ Industrial 16,924.28 0.0 0.0 2.1
Silver/Ounce 19.03 0.0 0.0 (2.2) S&P 500 1,949.44 0.0 0.0 5.5
Crude Oil (Brent)/Barrel (FM
Future)
108.61 0.0 0.0 (2.0) NASDAQ 100 4,321.40 0.0 0.0 3.5
Natural Gas (Henry
Hub)/MMBtu
4.65 0.0 0.0 7.0 STOXX 600 347.30 0.0 0.0 5.8
LPG Propane (Arab Gulf)/Ton 101.00 0.0 0.0 (20.0) DAX 9,987.19 0.0 0.0 4.6
LPG Butane (Arab Gulf)/Ton 117.00 0.0 0.0 (14.3) FTSE 100 6,858.21 0.0 0.0 1.6
Euro 1.36 0.0 0.0 (0.7) CAC 40 4,581.12 0.0 0.0 6.6
Yen 102.48 0.0 0.0 (2.7) Nikkei 15,077.24 0.0 0.0 (7.5)
GBP 1.68 0.0 0.0 1.5 MSCI EM 1,044.93 0.0 0.0 4.2
CHF 1.12 0.0 0.0 (0.1) SHANGHAI SE Composite 2,029.96 0.0 0.0 (4.1)
AUD 0.93 0.0 0.0 4.7 HANG SENG 22,951.00 0.0 0.0 (1.5)
USD Index 80.41 0.0 0.0 0.5 BSE SENSEX 25,396.46 0.0 0.0 20.0
RUB 34.41 0.0 0.0 4.7 Bovespa 53,128.66 0.0 0.0 3.1
BRL 0.44 0.0 0.0 5.1 RTS 1,359.10 0.0 0.0 (5.8)
189.0
155.1
141.0