The QE index in Qatar declined 0.7% led by losses in the real estate and industrial indices. Mazaya Qatar Real Estate Dev. and Gulf Warehousing Co. were the top losers falling 8.2% and 7.5% respectively, while Qatar General Ins. & Reins. Co. and Salam International Investment Co. rose 5.9% and 3.7% respectively. Trading volume on the QE index rose 39.6% compared to the previous day. Regional indices were mixed with Saudi Arabia and Dubai rising while Abu Dhabi, Kuwait, Oman and Bahrain fell.

1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.7% to close at 12,144.2. Losses were led by the Real
Estate and Industrials indices, declining 1.7% and 1.2% respectively. Top losers
were Mazaya Qatar Real Estate Dev. and Gulf Warehousing Co., falling 8.2%
and 7.5% respectively. Among the top gainers, Qatar General Ins. & Reins.
Co. and Salam International Investment Co. rose 5.9% and 3.7% respectively.
GCC Commentary
Saudi Arabia: The TASI index rose 0.2% to close at 9,445.7. Gains were led
by the Ind. Inv. and Build. & Con. indices, rising 2.7% and 1.6% respectively.
Saudi Chem. Co. gained 9.1%, while Saudi Printing & Pack. Co. was up 6.9%.
Dubai: The DFM index gained 0.1% to close at 4,763.0. The Services index
rose 4.1%, while the Telecommunication Index was up 0.5%. Dubai National
Insurance & Reinsurance Co. gained 9.8%, while Agility was up 5.9%.
Abu Dhabi: The ADX benchmark index fell 0.6% to close at 5,134.2. The Inv.
& Fin. Ser. index declined 4.8%, while the Services index was down 2.6%. Nat.
Corp. For Tou. & Hotels fell 10.0%, while Nat. Takaful Co. was down 9.1%.
Kuwait: The KSE index declined 0.9% to close at 7,495.0. The Real Estate
index fell 1.4%, while the Fin. Services index was down 1.3%. Pearl of Kuwait
Real Estate Co. declined 10.6%, while Zima Holding Co. was down 7.4%.
Oman: The MSM index fell marginally to close at 6,820.2. Losses were led by
the Financial index, falling 0.1%, while other indices ended in green. Oman
Edu. Training Inv. declined 3.6%, while Al Kamil Power Co. was down 3.1%.
Bahrain: The BHB index declined 0.1% to close at 1,379.1. The Commercial
Banking and Investment indices fell 0.2% each. Inovest declined 9.5%, while
Khaleeji Commercial Bank was down 6.8%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Reins. Co. 47.50 5.9 91.5 19.0
Salam International Investment Co. 14.00 3.7 11,193.3 7.6
Dlala' Brokerage & Inv. Holding Co 29.00 2.8 383.6 31.2
Qatar Gas Transport Co. 21.59 2.3 1,837.4 6.6
Widam Food Co. 63.80 1.4 335.4 23.4
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Salam International Investment Co. 14.00 3.7 11,193.3 7.6
Mazaya Qatar Real Estate Dev. 19.88 (8.2) 5,572.9 77.8
Qatar & Oman Investment Co. 13.92 (3.4) 3,605.9 11.2
Aamal Co. 18.00 (2.4) 2,722.6 20.0
Barwa Real Estate Co. 36.25 (1.2) 2,420.5 21.6
Market Indicators 14 Apr 14 13 Apr 14 %Chg.
Value Traded (QR mn) 1,198.1 925.6 29.4
Exch. Market Cap. (QR mn) 703,900.2 709,220.8 (0.8)
Volume (mn) 41.0 29.3 39.6
Number of Transactions 14,760 11,982 23.2
Companies Traded 43 42 2.4
Market Breadth 12:30 12:26 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,109.61 (0.7) (2.0) 22.1 N/A
All Share Index 3,141.20 (0.9) (1.8) 21.4 15.2
Banks 2,968.47 (0.8) (2.4) 21.5 14.7
Industrials 4,248.62 (1.2) (1.4) 21.4 15.9
Transportation 2,192.98 (0.0) (2.0) 18.0 14.4
Real Estate 2,407.84 (1.7) (2.6) 23.3 15.4
Insurance 3,178.78 0.2 0.6 36.1 8.4
Telecoms 1,645.05 (0.5) (0.4) 13.2 23.3
Consumer 7,438.95 (1.1) (1.2) 25.1 30.3
Al Rayan Islamic Index 3,906.60 (1.4) (2.5) 28.7 17.9
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Saudi Chemical Co. Saudi Arabia 67.83 9.6 2862.0 23.3
Saudi Printing & Pack. Saudi Arabia 25.46 6.3 3750.4 6.8
Qatar Gen. Ins. & Rein. Qatar 47.50 5.9 91.5 19.0
Saudi Kayan Petro. Co. Saudi Arabia 16.52 5.9 26740.6 5.2
Investbank Abu Dhabi 3.20 4.9 43.5 30.9
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Gulf Warehousing Co. Qatar 55.50 (7.5) 342.4 33.7
Ithmaar Bank Bahrain 0.16 (5.9) 235.5 (30.4)
Aviation Lease & Fin. Kuwait 0.27 (3.6) 959.0 (7.0)
United Real Estate Co. Kuwait 0.12 (3.2) 46.2 1.7
Sharjah Islamic Bank Abu Dhabi 2.03 (2.9) 540.5 31.8
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%
Mazaya Qatar Real Estate Dev. 19.88 (8.2) 5,572.9 77.8
Gulf Warehousing Co. 55.50 (7.5) 342.4 33.7
Al Khaleej Takaful Group 34.10 (4.2) 322.7 21.4
Qatar Islamic Insurance 69.80 (3.9) 170.5 20.6
Qatar & Oman Investment Co. 13.92 (3.4) 3,605.9 11.2
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Salam International Investment Co 14.00 3.7 157,404.4 7.6
Mazaya Qatar Real Estate Dev. 19.88 (8.2) 113,342.4 77.8
QNB Group 190.00 (1.3) 108,261.5 10.5
Barwa Real Estate Co. 36.25 (1.2) 88,384.4 21.6
Industries Qatar 180.00 (1.0) 83,573.0 6.6
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* 12,144.19 (0.7) (2.0) 4.3 17.0 329.09 193,361.4 15.4 2.0 4.1
Dubai 4,763.02 0.1 (1.6) 7.0 41.3 406.03 95,068.4 20.5 1.8 2.1
Abu Dhabi 5,134.22 (0.6) (0.7) 4.9 19.7 311.54 134,424.3 15.6 1.8 3.5
Saudi Arabia 9,445.69 0.2 (0.7) (0.3) 10.7 2,798.81 512,469.9 19.3 2.4 3.1
Kuwait 7,495.00 (0.9) (1.0) (1.0) (0.7) 92.27 116,960.8 17.1 1.2 4.0
Oman 6,820.24 (0.0) 0.2 (0.5) (0.2) 24.83 24,547.6 11.3 1.6 3.9
Bahrain 1,379.12 (0.1) (0.2) 1.6 10.4 0.48 52,705.3 9.7 0.9 5.0
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
12,000
12,100
12,200
12,300
12,400
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 0.7% to close at 12,144.2. The Real
Estate 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.
 Mazaya Qatar Real Estate Dev. and Gulf Warehousing Co. were
the top losers, falling 8.2% and 7.5% respectively. Among the
top gainers, Qatar General Ins. & Reins. Co. and Salam
International Investment Co. rose 5.9% and 3.7% respectively.
 Volume of shares traded on Monday rose by 39.6% to 41.0mn
from 29.3mn on Sunday. Further, as compared to the 30-day
moving average of 20.3mn, volume for the day was 102.2%
higher. Salam International Investment Co. and Mazaya Qatar
Real Estate Dev. were the most active stocks, contributing
27.3% and 13.6% to the total volume respectively.
Source: Qatar 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
Kuwait Projects Co.
(KIPCO)
S&P Kuwait LT CCR/ ST CCR BBB-/A-3 BBB-/A-3 – Stable –
BMB Investment
Bank (BMB)
Fitch Bahrain LT IDR/ST IDR/VR/SR B-/B/b-/5 B-/B/b-/5 – Negative –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC –
Local Currency, VR – Viability Rating, CCR – Corporate Credit Rating )
Earnings Releases
Company Market Currency
Revenue
(mn)1Q2014
% Change
YoY
Operating Profit
(mn) 1Q2014
% Change
YoY
Net Profit (mn)
1Q2014
% Change
YoY
Saudi Cement Co. (SCC) Saudi SR – – 304.0 -13.4% 286.0 -15.9%
Fitaihi Holding Group Saudi SR – – 19.5 -7.0% 17.7 -8.4%
Saudi Arabian Mining Co.
(Maaden)
Saudi SR – – 192.0 -49.8% 125.2 -47.7%
Al Khaleej Training &
Education Co.
Saudi SR – – 16.8 41.0% 15.6 49.5%
Southern Province Cement
Co. (SPCC)
Saudi SR – – 225.0 -17.6% 221.0 -17.8%
Yamama Saudi Cement Co.
(YCC)
Saudi SR – – 169.0 -39.4% 175.0 -36.8%
Yanbu National
Petrochemicals Co.
(YANSAB)
Saudi SR – – 645.4 -13.3% 555.7 -16.7%
Oman Oil Marketing
Company (Omanoil)*
Oman OMR 296.2 6.3% 11.4 13.5% 10.2 12.7%
National Aluminium Products
Co. (Oman Aluminium)
Oman OMR 4.1 -17.4% – – 0.2 -18.5%
Source: Company data, DFM, ADX, MSM (* FY2013 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
04/14 US US Census Bureau Retail Sales Advance MoM March 1.10% 0.90% 0.70%
04/14 US US Census Bureau Retail Sales Ex Auto MoM March 0.70% 0.50% 0.30%
04/14 US US Census Bureau Retail Sales Ex Auto and Gas March 1.00% 0.40% 0.40%
04/14 US US Census Bureau Retail Sales Control Group March 0.80% 0.50% 0.40%
04/14 US US Census Bureau Business Inventories February 0.40% 0.50% 0.40%
04/14 EU Eurostat Industrial Production SA MoM February 0.20% 0.20% 0.00%
04/14 EU Eurostat Industrial Production WDA YoY February 1.70% 1.50% 1.60%
04/14 UK Rightmove Rightmove House Prices MoM April 2.60% – 1.60%
04/14 UK Rightmove Rightmove House Prices YoY April 7.30% – 6.80%
04/14 Italy Banca D'Italia General Government Debt February 2107.2B – 2089.7B
04/14 Italy ISTAT CPI FOI Index Ex Tobacco March 107.2 – 107.2
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 69.10% 71.60% (29,911,965.00)
Non-Qatari 30.90% 28.40% 29,911,965.00

3. Page 3 of 5
News
Qatar
 HSBC: Qatar banks gear up for Basel III on strong footing –
HSBC Qatar has said the banking industry in Qatar is quite
strong and many of the lenders are gearing up to meet the new
Basel III norms. HSBC Qatar’s CEO Abdul Hakeem al-
Mostafawi said over the next five years, funds worth $200bn are
estimated to be invested in infrastructure, oil & gas, health,
sports, education and other sectors. He said that ample
opportunities exist in Qatar for everyone to play a role. Al-
Mostafawi added that the banks in the country are growing at a
phenomenal pace with their combined assets growing by 14%
YoY, along with a lower non-performing loans ratio of 2%. He
also noted that Qatari banks have posted robust earnings and
remain well capitalized with their Tier I capital ratio in excess of
15%. (Gulf-Times.com)
 QGTS to disclose 1Q2014 results on April 24 – Nakilat
(QGTS) will disclose its first quarter 2014 (1Q2014) financial
results on 24 April 2014. (QE)
 BRES to disclose 1Q2014 results on April 29 – Barwa Real
Estate Company (BRES) will disclose its first quarter 2014
(1Q2014) financial results on 29 April 2014. (QE)
 QIBK selects NCR as partner for tech & security solutions –
Qatar Islamic Bank (QIBK) and NCR Corporation have signed a
strategic agreement for the implementation of significant
technology projects in 2014. As part of this agreement, QIBK will
implement NCR Skimming Protection Solution in an effort to
address security challenges such as ATM skimming and deliver
maximum protection to its customers. (GulfBase.com)
 QA upgrades services on Moscow route, launches non-stop
flight to Bali – Qatar Airways (QA) will upgrade its services on
the Doha-Moscow route by boosting weekly frequencies and
adding new aircraft. With effect from September 1, 2014, the
airline will add two more flights per week on the route, bringing
the total weekly frequency to 14. In addition, QA will introduce its
upgraded A320 aircraft to replace the current fleet, which
includes A321 and A320, as well as a Boeing 787 Dreamliner.
Meanwhile, QA announced that it will operate a new daily non-
stop flight from Doha to Bali in Indonesia from July 21, 2014.
(Bloomberg, Gulf-Times.com)
International
 CBO: US deficit cut by almost one-third to $492bn –
According to the Congressional Budget Office, the US
government’s deficit will fall to $492bn this fiscal year, a steeper
drop than originally expected from $680bn in FY2013. The
FY2014 deficit will be 2.8% of the country’s economy, almost
32% below the FY2013 level, when it was 4.1%. CBO said the
deficit is set to shrink again in FY2015 to $469bn, before rising
to about $1tn by FY2022 to FY2024. CBO further added that
this will be the fifth consecutive year in which the deficit has
declined as a share of GDP since peaking at 9.8% in 2009. The
2.8% as a percentage of GDP is lower than the 3.1% average
witnessed in the last 40 years. (Bloomberg)
 Eurozone's February output suggests gradual recovery –
The latest data from the EU statistics office showed that output
at the Eurozone's factories rose broadly in line with expectations
for February, driven by production of intermediate and non-
durable goods, which suggests that the bloc's recovery is
gradually strengthening. Industrial output among 18 countries
using the single currency rose by 1.7% in February 2014 as
compared to February 2013, which was slightly above the
expectations of analysts polled by Reuters, who foresaw a 1.5%
rise. Eurostat said the monthly rise was driven by 0.6% growth
in the production of intermediate goods. Output of non-durable
consumer goods was up 0.5%, while capital goods' output
remained stable. The production of durable consumer goods fell
1.2% on the month and the highly volatile energy production
was down by 1.7%. Analysts stated modest increases in
industrial production supported the belief that recovery of the
€9.5tn economy continues to firm up gradually. (Reuters)
 Europe speeds up gas storage to prepare for Russian cut –
European utilities are filling up their gas storage sites to prepare
for a potential Russian supply cut to Ukraine, an important
transit route to Europe, taking advantage of mild weather and
healthy flows from alternative sources such as Norway. Amid a
growing crisis between Kiev and Moscow, Ukraine's state-run
energy company Naftogaz has suspended gas payments to
Russia. Russia supplies around a third of Europe's gas demand,
of which around 40% currently transits Ukraine, but Moscow has
threatened to cut supplies if Ukraine fails to pay its bills, and
warned there could be a reduction in onward deliveries to
Europe as well. Although the European Commission has called
on Russia to respect its gas commitments and urged Ukraine to
respect its transit agreements, there have been several
emergency meetings in Brussels to prepare for disruptions.
(Reuters)
 China GDP gauge seen showing bigger drop than main
measure – China’s loss of economic momentum in the first
quarter was deeper than the most widely-cited data showed.
According to the median estimate in a Bloomberg News survey,
GDP grew 1.5% in the last three months, down from 1.8% in the
fourth quarter. That indicates a sharper deceleration than the
median projection for 7.3% growth from a year earlier, down
from 7.7%. Investors are concerned about the scale of a
slowdown that prompted Chinese Premier Li Keqiang to provide
what some analysts dubbed a mini-stimulus of spending and tax
relief. While the indicator suffers from flaws including the
government’s failure to give details of methodology, it provides
an extra tool to analyze an economy that bond-fund manager
Bill Gross calls the “mystery meat” of emerging markets.
(Bloomberg)
Regional
 DAAR completely repays SR750mn Islamic sukuk – Dar Al-
Arkan Real Estate Development Company (DAAR) announced
that it has repaid the remaining sukuk worth SR100mn on April
14, 2014 from available cash with the company. With this,
SR750mn Sukuk III is fully repaid. (Tadawul)
 Interactive Intelligence, Awal IT Services sign partnership
deal – Interactive Intelligence Group Inc. has signed in First
Information Technology-Dubai (Awal IT Services), a subsidiary
of Saudi Telecom Company, (STC), as an Elite partner. Awal
will sell, implement and service Interactive Intelligence's portfolio
of contact center, unified communications, and business
process automation software and other solutions across all
market segments in Saudi Arabia. (GulfBase.com)
 Damac unveils 33-storey Vantage tower – Damac Properties
has unveiled its latest luxury tower, Vantage, providing serviced
apartments in 388 units in Jumeirah Village. Work has already
started on the 33-storey tower project, which is expected to be
completed by 2Q2017. (GulfBase.com)
 Arabtec appoints new COO – Arabtec Holding has appointed
Sameh Muhtadi as the Chief Operating Officer (COO) for
international operations at Arabtec Construction. (DFM)
 Emaar to launch new phase of Mira Oasis townhouses –
Emaar Properties has unveiled a new collection of Mira Oasis

4. Page 4 of 5
townhouses in the Reem area of the city. The new phase of Mira
Oasis includes more than 480 three and four-bedroom
townhouses. (GulfBase.com)
 ADSB declares AED21.2mn dividends – Abu Dhabi Ship
Building Company’s (ADSB) AGM has approved its board of
directors’ proposal for the distribution of 10% cash dividend,
amounting to AED21.2mn for the financial year ended
December 31, 2013. (ADX)
 Etisalat signs strategic deal with Huawei Technologies –
Emirates Telecommunication Corporation (Etisalat) has signed
an agreement with Huawei Technologies to develop fixed and
mobile communications networks. Under the agreement,
Huawei Technologies will provide Etisalat with a range of
consulting services, which involve developing Etisalat’s
capabilities for offering mobile broadband, fixed broadband,
internet protocol television and LTE video services in the MENA
region. (GulfBase.com)
 CBB: Bahrain banking sector resilient – The Central Bank of
Bahrain’s (CBB) Governor Rasheed Al Maraj said that Bahraini
banks will be ready to implement the Basel III banking standards
on new capital requirements by next year. The kingdom's
banking sector remains quite resilient and requirements to
enhance the liquidity and reserves under Basel III will further
bolster it. On whether Shari’ah-compliant banks were also
aligning their regulations with Basel III norms, Al Maraj said
besides improving capital and liquidity management, Islamic
banks will need to consider if their strategic decisions take
account of the inherent uncertainties caused by the increasing
complexities of financial markets. (Bloomberg)
 Gulf Bank 1Q2014 profit climbs 10% – Kuwait-based Gulf
Bank missed analyst estimates for quarterly earnings despite
reporting a 10% increase in 1Q2014 net profit. The bank said its
net profit for the quarter ending March 31 stood at KD8.73mn as
compared to KD7.94mn in 1Q2013. Analysts at Global
Research and Arqaam Capital had forecast a net profit of
KD9mn and KD10mn respectively. Meanwhile, Gulf Bank
named Cesar Gonzalez-Bueno as its Chief Executive, replacing
Michel Accad who resigned in October 2013. (Gulf-Times.com)
 Burgan Bank hires banks for bond deal – According to
sources, Kuwait's Burgan Bank has hired HSBC, KAMCO and
NBK Capital for a potential bond deal. However, it is not clear if
the planned bond deal will be in US dollars or Kuwaiti dinars, nor
whether it will be senior or subordinated. (GulfBase.com)
 NBK Capital hires adviser for Saudi stake sale – NBK
Capital, the private-equity unit of the National Bank of Kuwait,
has hired Perella Weinberg Partners as the adviser to sell its
stake in a Saudi consumer-finance company. NBK Capital is
seeking to sell 38% stake in Nayifat Financing Company.
(Bloomberg)
 Jazeera Airways to launch flights to Istanbul from May 2 –
Jazeera Airways announced that it would begin serving Istanbul
through the city's primary airport, Istanbul Ataturk Airport, with
five flights a week instead of the Sabiha Gokcen International
Airport. Starting from May 2, 2014, the airline will increase the
number of flights to Ataturk Airport from three flights a week to
five. (Bloomberg)
 Bank Muscat, AIG sign bancassurance deal – Bank Muscat
and the American International Group (AIG) have announced a
10-year strategic bancassurance agreement, under which AIG
will become the exclusive provider of non-life insurance products
to Bank Muscat’s customers in Oman. Bancassurance is
practice among banking institutions to sell insurance products to
bank customers, after reaching an agreement with insurance
firms. (GulfBase.com)
 Omanoil declares dividends of OMR4.5mn – The Oman Oil
Marketing Company’s (Omanoil) AGM has approved the board’s
proposal for the distribution of final cash dividend of 70 baizas
per share, amounting to OMR4.5mn for FY2013.
(GulfBase.com)
 Topaz secures $11mn West African contract – Renaissance
Services’ subsidiary Topaz Energy & Marine (Topaz) has won a
new $11mn contract for its fast growing West African operation.
Under the agreement, Topaz will supply a platform supply
vessel, the Topaz Faye to a global oil major for 18 months to
support offshore production operations. With this deployment,
the total number of vessels under operation by Topaz in the
West African region increases to 10, representing approximately
10% of Topaz’s total fleet. (MSM)
 ODC buys Daewoo’s stake in DDC – The Oman Drydock
Company (ODC) has signed an agreement with Korea-based
Daewoo Shipbuilding & Marine Engineering (DSME) to acquire
the full ownership in Duqm Development Company (DDC). DDC
is equally owned by DSME and Oman Tourism Development
Company (Omran). (Bloomberg)
 Omani natural gas demand set to grow by 10-15% in 2014 –
The Undersecretary at the Omani Ministry of Oil & Gas, Salim
bin Nasser bin Said Al Aufi said that the natural gas demand
growth in Oman is seen at around 10-15% in 2014. This growth
is mainly driven by power projects, gas-based industries,
enhanced oil recovery projects and new ventures coming up in
Duqm. Al Aufi said the demand for natural gas from the Omani
power sector is growing at 8-11%, while the demand growth
from other industries is around 5-6% a year. (Bloomberg)
 Bank Muscat extends baituna home finance for Zain
projects – Bank Muscat and Zain Property Development
Company have signed a MoU to provide attractive baituna home
finance for Dar Al Zain–Phase 4 and Al Zain projects. Dar Al
Zain–Phase 4 is a unique residential project located in Sur Al
Hadid in Seeb Wilayat, which comprises 52 residential villas and
is expected to be completed in 3Q2015. Al Zain project is
located in Athaiba north and comprises 48 residential units,
which is expected to be handed over in 3Q2015. Baituna home
finance is among the lowest interest rates with the maximum
loan tenure up to 25 years offered for Omani customers.
(Bloomberg)
 GFH completes sale of LUFC stake – Gulf Finance House
(GFH) announced that the Football League in the UK has
approved Massimo Cellino as a Director of Leeds United
Football Club (LUFC). With this, the club’s sale to Eleonora
Sport Ltd. (ESL) is complete. Under the terms of the sale
agreement, ESL has become the major shareholder of LUFC by
acquiring 75% shareholding, whereas GFH and other
shareholders will continue to hold 25% shares. (Bahrain Bourse)

5. Contacts
Saugata Sarkar Keith Whitney Sahbi Kasraoui
Head of Research Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544
saugata.sarkar@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
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
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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
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
0.2%
(0.7%)
(0.9%)
(0.1%)
(0.0%)
(0.6%)
0.1%
(1.2%)
(0.8%)
(0.4%)
0.0%
0.4%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,327.99 0.7 0.7 10.1 DJ Industrial 16,173.24 0.9 0.9 (2.4)
Silver/Ounce 19.99 (0.1) (0.1) 2.7 S&P 500 1,830.61 0.8 0.8 (1.0)
Crude Oil (Brent)/Barrel (FM
Future)
109.07 1.6 1.6 (1.6) NASDAQ 100 4,022.69 0.6 0.6 (3.7)
Natural Gas (Henry
Hub)/MMBtu
4.63 (0.5) (0.5) 6.5 STOXX 600 329.79 0.3 0.3 0.5
LPG Propane (Arab Gulf)/Ton 111.25 0.5 0.5 (12.1) DAX 9,339.17 0.3 0.3 (2.2)
LPG Butane (Arab Gulf)/Ton 124.00 0.4 0.4 (8.7) FTSE 100 6,583.76 0.3 0.3 (2.4)
Euro 1.38 (0.5) (0.5) 0.6 CAC 40 4,384.56 0.4 0.4 2.1
Yen 101.85 0.2 0.2 (3.3) Nikkei 13,910.16 (0.4) (0.4) (14.6)
GBP 1.67 (0.0) (0.0) 1.0 MSCI EM 1,011.73 (0.4) (0.4) 0.9
CHF 1.14 (0.4) (0.4) 1.5 SHANGHAI SE Composite 2,131.54 0.0 0.0 0.7
AUD 0.94 0.3 0.3 5.7 HANG SENG 23,038.80 0.2 0.2 (1.1)
USD Index 79.73 0.3 0.3 (0.4) BSE SENSEX 22,628.96 0.0 0.0 6.9
RUB 35.92 0.8 0.8 9.3 Bovespa 51,596.55 (0.5) (0.5) 0.2
BRL 0.45 0.1 0.1 6.7 RTS 1,179.97 (2.0) (2.0) (18.2)
174.5
151.6
137.9