The QSE Index declined 0.9% to close at 9,242.3

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.9% to close at 9,242.3. Losses were led by the
Transportation and Real Estate indices, falling 3.0% and 2.1%, respectively. Top
losers were Qatar Gas Transport Co. Limited and United Development Company,
falling 4.4% and 2.4%, respectively. Among the top gainers, Dlala Brokerage &
Investment Holding Co. gained 6.6%, while Qatar Fuel Company was up 2.1%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.5% to close at 8,344.4. Losses were led by the
Food & Bev. and Telecom. Services indices, falling 1.8% and 1.6%, respectively.
Allianz Saudi Fransi Coop. declined 4.6%, while Saudi British Bank was down 3.6%.
Dubai: The DFM General Index declined 0.5% to close at 3,041.7. The Consumer
Staples and Discretionary index fell 4.4%, while the Banks index declined 1.2%. Al
Salam Sudan fell 7.0%, while DXB Entertainments was down 4.8%.
Abu Dhabi: The ADX General Index rose 0.2% to close at 4,662.6. The Real Estate
index gained 1.3%, while the Telecommunication index rose 0.6%. Ras Al Khaima
Poultry gained 10.9%, while RAK for White Cement was up 9.8%.
Kuwait: The Kuwait Main Market Index rose 0.1% to close at 4,837.4. The
Telecommunication and Basic Material indices gained 1.2% each. Ras Al Khaimah
White Cement gained 9.8%, while Shuaiba Industrial Co. was up 8.3%.
Oman: The MSM 30 Index rose 0.4% to close at 4,596.5. Gains were led by the
Financial and Industrial indices, rising 0.5% and 0.3%, respectively. HSBC Bank
Oman rose 3.6%, while National Detergent was up 3.1%.
Bahrain: The BHB Index fell 0.3% to close at 1,263.8. The Hotel & Tourism index
declined 4.2%, while the Services index fell 1.0%. Gulf Hotel Group declined 5.8%,
while Bahrain & Kuwait Insurance Company was down 2.9%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Dlala Brokerage & Inv. Holding Co. 13.59 6.6 553.6 (7.6)
Qatar Fuel Company 143.95 2.1 210.2 41.0
Al Meera Consumer Goods Co. 152.00 1.5 50.0 4.9
Qatari German Co for Med. Devices 5.35 0.9 20.8 (17.2)
Qatar Insurance Company 39.31 0.8 470.9 (13.1)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. Ltd. 15.67 (4.4) 1,513.3 (2.7)
Mesaieed Petrochemical Holding 15.65 (1.4) 1,121.3 24.3
The Commercial Bank 38.01 (0.9) 994.8 31.5
QNB Group 164.00 (0.3) 904.9 30.1
Masraf Al Rayan 35.01 (0.6) 681.4 (7.3)
Market Indicators 07 June 18 06 June 18 %Chg.
Value Traded (QR mn) 431.3 447.9 (3.7)
Exch. Market Cap. (QR mn) 511,542.2 515,321.8 (0.7)
Volume (mn) 9.9 14.2 (30.2)
Number of Transactions 5,227 6,014 (13.1)
Companies Traded 42 42 0.0
Market Breadth 11:31 22:16 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,283.90 (0.9) 4.1 13.9 13.8
All Share Index 2,707.31 (0.8) 4.1 10.4 14.2
Banks 3,296.57 (0.2) 3.8 22.9 13.5
Industrials 2,935.50 (1.1) 3.0 12.0 15.4
Transportation 1,871.52 (3.0) 0.7 5.9 11.8
Real Estate 1,673.02 (2.1) 2.9 (12.7) 14.6
Insurance 3,279.11 0.6 12.5 (5.8) 27.8
Telecoms 1,021.92 (2.1) 8.8 (7.0) 30.6
Consumer 6,045.38 1.1 4.8 21.8 13.1
Al Rayan Islamic Index 3,628.40 (0.8) 3.3 6.0 14.7
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
HSBC Bank Oman Oman 0.12 3.6 2,547.3 (10.2)
Middle East Healthcare Saudi Arabia 57.50 3.4 491.1 6.8
Human Soft Holding Co. Kuwait 3.68 3.4 69.8 (1.6)
Mobile Telecom. Co. Kuwait 0.39 2.6 8,893.4 (9.2)
DP World Dubai 23.80 1.7 138.2 (4.8)
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. Qatar 15.67 (4.4) 1,513.3 (2.7)
Saudi British Bank Saudi Arabia 32.50 (3.6) 858.6 20.4
Savola Group Saudi Arabia 39.90 (2.7) 562.5 1.0
Saudi Telecom Co. Saudi Arabia 89.50 (2.5) 476.6 30.5
Ooredoo Qatar 74.75 (2.2) 143.6 (17.6)
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC
Composite Large Mid Cap Index)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. Ltd. 15.67 (4.4) 1,513.3 (2.7)
United Development Company 14.75 (2.4) 70.5 2.6
Ezdan Holding Group 8.83 (2.2) 263.6 (26.9)
Ooredoo 74.75 (2.2) 143.6 (17.6)
Islamic Holding Group 27.90 (2.1) 14.0 (25.6)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
QNB Group 164.00 (0.3) 148,617.1 30.1
The Commercial Bank 38.01 (0.9) 37,826.8 31.5
Qatar Fuel Company 143.95 2.1 29,940.4 41.0
Qatar Islamic Bank 122.80 0.7 24,863.4 26.6
Qatar Gas Transport Co. Ltd. 15.67 (4.4) 24,217.2 (2.7)
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* 9,242.30 (0.9) 4.1 4.1 8.4 119.14 140,520.6 13.8 1.4 4.8
Dubai 3,041.72 (0.5) 2.6 2.6 (9.7) 50.75 105,154.4 9.8 1.2 5.6
Abu Dhabi 4,662.58 0.2 1.2 1.2 6.0 29.92 128,215.1 12.5 1.4 5.2
Saudi Arabia 8,344.39 (0.5) 2.2 2.2 15.5 866.75 531,278.7 18.8 1.9 3.1
Kuwait 4,837.41 0.1 0.4 0.4 (3.3) 35.83 33,815.2 14.6 0.9 4.1
Oman 4,596.51 0.4 (0.2) (0.2) (9.9) 11.55 19,293.7 11.4 1.0 5.3
Bahrain 1,263.79 (0.3) (0.2) (0.2) (5.1) 7.39 19,781.5 8.2 0.8 6.5
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,200
9,250
9,300
9,350
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 6
Qatar Market Commentary
 The QSE Index declined 0.9% to close at 9,242.3. The Transportation and
Real Estate indices led the losses. The index fell on the back of selling
pressure from Qatari shareholders despite buying support from GCC and
non-Qatari shareholders.
 Qatar Gas Transport Company Limited and United Development
Company were the top losers, falling 4.4% and 2.4%, respectively.
Among the top gainers, Dlala Brokerage & Investment Holding
Company gained 6.6%, while Qatar Fuel Company was up 2.1%.
 Volume of shares traded on Thursday fell by 30.2% to 9.9mn from
14.2mn on Wednesday. Further, as compared to the 30-day moving
average of 11.8mn, volume for the day was 15.8% lower. Qatar Gas
Transport Company Limited and Mesaieed Petrochemical Holding
Company were the most active stocks, contributing 15.3% and 11.3% to
the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Ratings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Mashreqbank S&P Dubai LT-LIC/LT-FIC BBB+/BBB+ A-/A-  Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FIC – Foreign Issuer Credit, LIC – Local Issuer Credit, IDR – Issuer Default Rating, SR – Support Rating)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
06/07 US Department of Labor Initial Jobless Claims 2-June 222k 220k 223k
06/07 US Department of Labor Continuing Claims 26-May 1,741k 1,735k 1,720k
06/08 Germany German Federal Statistical Office Trade Balance April 20.4bn 20.2bn 24.7bn
06/08 Germany German Federal Statistical Office Current Account Balance April 22.7bn 20.0bn 29.6bn
06/07 France Ministry of the Economy, France Trade Balance April -4,954mn -5,100mn -5,014mn
06/07 France Banque De France Current Account Balance April -1.1bn – -0.6bn
06/08 France INSEE National Statistics Office Industrial Production MoM April -0.5% 0.3% -0.4%
06/08 France INSEE National Statistics Office Industrial Production YoY April 2.1% 2.9% 1.9%
06/08 France INSEE National Statistics Office Manufacturing Production MoM April 0.4% 1.3% 0.3%
06/08 France INSEE National Statistics Office Manufacturing Production YoY April 3.0% 3.7% 0.5%
06/07 China National Bureau of Statistics Foreign Reserves May $3,110.62bn $3,106.50bn $3,124.85bn
06/08 China National Bureau of Statistics Trade Balance May $24.92bn $33.25bn $28.30bn
06/08 China National Bureau of Statistics Exports YoY May 12.6% 11.1% 12.6%
06/08 China National Bureau of Statistics Imports YoY May 26.0% 18.0% 21.5%
06/09 China National Bureau of Statistics PPI YoY May 4.1% 3.9% 3.4%
06/09 China National Bureau of Statistics CPI YoY May 1.8% 1.8% 1.8%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QFMA to split nominal value of QSE listed firms’ shares – Qatar
Financial Markets Authority (QFMA) announced that regarding
the split of the shares’ nominal value of QSE listed companies to
become QR1 per share (from the present face value of QR10),
the QFMA is working in developing the procedures and the
appropriate mechanisms to regulate the process. This step
comes as a part of performing the QFMA’s regulatory and
supervisory role over the capital market in the State. Through
this step, the QFMA seeks to increase the prospects for
investment in the financial market, expand the shareholders
base, attract more small investors, give more choice
opportunities for all participants dealing in the QSE, and
increase the liquidity and turnover ratio of shares listed on the
market. The QFMA is exerting more efforts to achieve its
mission that aims to regulate and develop the capital market in
line with the QFMA’s strategic plan, which is in harmony with
the financial sector plan in Qatar. (QSE, Gulf-Times.com)
 BRES’ EGM declares the increase of non-Qatari shareholding
percentage to 49% and approves the amendment to the Articles
of Association – Barwa Real Estate Company (BRES) held the
company’s Extraordinary General Assembly meeting (EGM) on
June 6, 2018. The EGM endorsed all proposals and
recommendations made by the board members regarding the
following: 1) The approval to increase the shareholding
percentage of non-Qataris in the shares of the company from
25% to 49% of the total shares of the company. 2) The approval
to amend the company’s Articles of Association to be in
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 20.09% 34.56% (62,406,666.30)
Qatari Institutions 10.52% 19.80% (39,996,382.34)
Qatari 30.61% 54.36% (102,403,048.64)
GCC Individuals 0.25% 0.24% 52,683.68
GCC Institutions 9.80% 5.20% 19,860,446.64
GCC 10.05% 5.44% 19,913,130.32
Non-Qatari Individuals 4.58% 6.37% (7,719,268.53)
Non-Qatari Institutions 54.76% 33.84% 90,209,186.85
Non-Qatari 59.34% 40.21% 82,489,918.32

3. Page 3 of 6
accordance with the amendments of non-Qatari ownership
percentages. All necessary measures are to be taken in
accordance with the relevant laws and procedures to
implement the said decision, after obtaining the approval from
the Ministry of Economy. (QSE)
 Mannai Corporation announces the result of its board meeting –
Mannai Corporation announced the result of its board of
directors’ meeting, which was held on June 6, 2018 and
discussed administrative and operational matters of the
company. (QSE)
 MRDS’ EGM endorses items on its agenda – Mazaya Qatar Real
Estate Development (MRDS) announced the results of the
Extraordinary General Assembly Meeting (EGM), which was
held on June 6, 2018 and its agenda has been discussed and
approved. One of the item of agenda is to amend the relevant
Article of Association of the company to reflect the trade name
after approval by the authorities on the new name, and
authorize the Chairman to complete the necessary procedures.
(QSE)
 Investment Holding Group to hold its board meeting on June 13
– Investment Holding Group announced that its board of
directors will be holding a meeting on June 13, 2018 to discuss
the following agenda: 1) Review Audit and Risk Committee
report. 2) Discuss and approve the Organizational Structure. 3)
Discuss and approve the Authority Matrix. 4) Discuss and
approve the Salary Scale. 5) Discuss the acquisition of 39.6 % of
the shares of Consolidated Engineering Systems. (QSE)
 QEWS signs deal with Marubeni – Qatar Electricity & Water
Company (QEWS) signed an agreement with Japanese
company Marubeni to facilitate visits by Qatari engineers,
employees and joint venture companies to Marubeni plants and
projects in various locations in Japan, the Philippines and
Oman. Qatari engineers will be briefed on Marubeni’s practices
in management, operation, maintenance, risk management,
quality management and planning. (Peninsula Qatar)
 QCB sells QR1.2bn of Treasury bills at a monthly auction –
Qatar Central Bank (QCB) sold QR1.2bn of Treasury bills at a
monthly auction, with yields falling and the curve steepening
compared to last month. It sold QR700mn of three-month bills
at 2.38%, QR300mn of six-month at 2.63% and QR200mn of
nine-month at 2.83%. Last month, it sold QR900mn riyals of
three-month at 2.49%, QR400mn of six-month at 2.69% and
QR200mn of nine-month at 2.84%. (Zawya)
 More opportunities for Qatar, Sri Lanka in investments, says
Doha Bank’s CEO – Positive prospects abound for Qatar and Sri
Lanka to strengthen bilateral relationships and to explore
investment opportunities in sectors such as tourism, according
to Doha Bank’s CEO, R Seetharaman. Speaking at a forum after
the recent opening of Doha Bank’s representative office in Sri
Lanka, the bank has further strengthened its presence in the
Indian subcontinent, Seetharaman said that bilateral
relationships can be explored in the fruits and vegetables,
spices, cereals, rice, boat building, fabrics, construction
services, garments, and IT segments. Sri Lanka could support
Qatar in the food sector, citing LuLu Group, which has already
started resourcing a number of food products from the Asian
country for its hypermarkets in Qatar. He noted that Qatari
corporates can also explore opportunities in Sri Lanka’s
infrastructure and energy sector. (Gulf-Times.com, Qatar
Tribune)
 Total 1,958 new companies registered in Qatar in May – Qatar
witnessed the registration of 1,958 new companies in May this
year with limited liability companies constituting the majority
of them, according to the Ministry of Economy and Commerce.
Limited liability companies accounted for 62% of new
commercial records, followed by limited liability companies in
the category of single-person companies at 27%, while 10% of
new companies were registered in the category of individual
corporations. A total of 8,283 commercial licenses were issued,
amended or renewed in May. Some 1,620 new commercial
licenses were issued, 946 were modified and 5,717 commercial
licenses were renewed, the report stated, adding a total of 271
companies closed in May, representing 13.8% of newly
registered companies. (Gulf-Times.com)
 Qatar’s rise boosts investors’ trust – Qatari economy’s
steadfastness and rise in the face of the blockade has boosted
investor confidence, opening up wider horizons for openness
and attracting more foreign investments to the different
sectors, a recent study by Qatar University showed. Prepared
by Qatar University’s Dean of the College of Business and
Economics, Khalid Al Abdulqader, ‘Foreign Investment
Openness in the State of Qatar and Its Interaction in
Development of Qatari Economy’ argues that the steadfastness
of the Qatari economy against the siege thwarted the plans and
expectations of the siege countries who had expected the Qatari
economy to collapse once they imposed it, QNA reported. The
study pointed out that the presence of major foreign companies
that continued to operate in Qatar despite the siege indicates
the strength of the Qatari economy, which is an indicator of
investor confidence in the ability of Qatar to face the siege.
Another proof of the strength of Qatar’s economy is that its
credit rating is in the highest range for global rating agencies
such as Standard and Poor’s, Fitch, Moody’s and Capital
Intelligence, the study says. In the same context, the
International Monetary Fund puts Qatar’s projected economic
growth in 2018 at the higher level in the Gulf region despite the
siege. (Peninsula Qatar)
 AmCham Qatar working to boost economic ties with the US –
American Chamber of Commerce in Qatar (AmCham Qatar) is
working aggressively to facilitate and boost business and
economic relationships between Qatar and the US. The Qatar
chapter of American Chamber of Commerce recently
participated at an event in Washington to promote Qatar as one
of the most attractive destinations for investments in the
region. AmCham Qatar announced to host a senior official of
the US Chamber of Commerce by the end of this month, which
will be providing insight on Qatar-US economic relations,
challenges, opportunities and other issues related to business
and trade. (Peninsula Qatar)
International
 US weekly jobless claims drop as labor market picks up steam –
The number of Americans filing for unemployment benefits
unexpectedly fell last week, pointing to a further tightening in
labor market conditions. The robust labor market and firming
inflation have cemented expectations the Federal Reserve will
raise benchmark US interest rates next week. Many economists

4. Page 4 of 6
believe the US central bank will hike rates two more times after
its June 12-13 policy meeting to prevent the economy from
overheating. The labor market is considered to be close to or at
full employment. Nonfarm payrolls increased by 223,000 jobs in
May and the unemployment rate dropped to an 18-year low of
3.8%. The jobless rate, which has declined by three-tenths of a
percentage point this year, is now at a level where the Fed
projected it would be by the end of this year. (Reuters)
 US household net worth $100tn in 1Q2018 – US households
added $1tn to their wealth in the first three months of this year,
boosted by rising stock prices and home values, the Federal
Reserve stated. US household wealth reached $100.8tn in the
January-March period. The rising value of their investments
has now boosted their net worth by over $6tn compared to
1Q2017, a period that largely overlaps with the first year of the
Trump administration. Household borrowing rose at 3.3%
annual rate in the January-March period, the Fed report also
showed, down from 4.6% growth rate in the fourth quarter. The
value of financial assets held by households rose by $511bn
during the first quarter, while real estate value rose by $490bn.
(Reuters)
 German industry output, exports fall in April – German
industrial output and exports fell in April adding to signs that
Europe’s largest economy started the second quarter on a weak
footing. Data from the Economy Ministry showed output fell by
1.0%, well below a Reuters forecast for a rise of 0.3%. Separate
data from the Federal Statistics Office showed exports fell by
0.3% in April while imports rose 2.2%. Data showed industrial
orders fell unexpectedly by 2.5%. (Reuters)
 Greece’s consumer price inflation picks up to 0.8% in May –
Greece’s annual EU-harmonized inflation rate accelerated in
May, statistics service ELSTAT data showed. The reading in
May was 0.8% from 0.5% in April. The data showed the
headline consumer price index rose to 0.6% YoY from zero
percent in the previous month. Greece had been in a protracted
deflation mode since March 2013 based on its headline index, as
wage and pension cuts and a multi-year recession took a heavy
toll on Greek household incomes. Deflation in the country hit its
highest level in Nov. 2013 when consumer prices registered
2.9% YoY decline. (Reuters)
 Greece’s industrial output rises 1.9% YoY in April – Greece’s
industrial output increased by 1.9% in April compared to the
same month last year, after an upwardly revised 1.2% rise in
March, statistics service ELSTAT showed. Looking at index
components, manufacturing production rose 2.4% from the
same month last year, while mining output dropped 6.4%.
Electricity production increased 2.2%. (Reuters)
 Japan’s economy contracted at an annualized rate of 0.6% in
January-March – Japan’s economy contracted at an annualized
rate of 0.6% in January-March, unchanged from a preliminary
estimate issued last month, revised gross domestic product data
from the Cabinet Office showed. The result compared with the
median estimate of 0.4% annualized contraction in a Reuters
poll of economists. On a QoQ basis, GDP fell 0.2% in real, price-
adjusted terms, also unchanged from the initial reading. The
median estimate among economists was for 0.1% decline.
(Reuters)
 China’s May producer inflation picks up for second time in a
row – China’s producer inflation picked up for the second month
in a row to a four-month high in May, buoyed by stronger
commodity prices, suggesting the world’s second number
economy has retained growth momentum despite rocky trade
relation with the US. Annual consumer inflation held steady in
May from the previous month, as food prices remained largely
stable, official data also showed. The producer price index (PPI)
rose 4.1% in May from a year earlier, bolstered by a recent jump
in commodity prices and up from a lower base last year,
according to the National Bureau of Statistics (NBS). That
compared with acceleration to 3.4% in April. On a MoM basis,
the PPI rose 0.4% in May, compared with 0.2% decline in April.
Analysts polled by Reuters had expected May producer
inflation would pick up to 3.9%, and predicted that producer
inflation will accelerate again in June as global crude oil prices
continue to rise. (Reuters)
 China maintained solid export growth of 12.6% in May – China
maintained solid export growth of 12.6% in May, slightly
slower than in April, but still providing good news for China’s
policymakers as they deal with tough trade negotiations with
Washington. Imports also rose more than anticipated in May
and at the fastest pace since January, with the data coming at a
time when China has pledged to its trade partners, including the
US, that steps would be taken to increase imports. Imports grew
26% in May, the General Administration of Customs stated,
beating analysts’ forecast of 18.7% growth, and compared with
21.5% rebound in April. (Reuters)
Regional
 MENA’s M&A activity down by 21.8% in 1Q2018 – The merger
and acquisition activity (M&A) in MENA recorded 93
announced deals in 1Q2018, a decline of 21.8% when compared
to 119 deals in 1Q2017, stated EY in a report. The total
disclosed deal value in MENA also dropped by 26.7% in 1Q2018
to $15.4bn, compared to $21bn in 1Q2017, added the report. Of
the transactions across the MENA region, the UAE saw the
highest deal value with $5.1bn from 23 deals announced in
1Q2018. (GulfBase.com)
 Foreign direct investment in Saudi Arabia at 14-year low in
blow to reforms – New foreign direct investment in Saudi
Arabia dropped to 14-year low, figures showed, giving blow to
ambitious economic reforms which aim to increase inflows of
foreign capital sharply. FDI inflows shrank to $1.4bn in 2017
from $7.5bn in 2016, according to figures from the United
Nations Conference on Trade and Development. The drop
contrasts with the trend in other Gulf Arab oil exporting
economies. FDI increased in Qatar, on which Saudi Arabia and
some other countries imposed an unjust embargo last year. FDI
in the UAE rose to $10.4bn last year from $9.6bn. Oman also
attracted $1.9bn, up from $1.7bn. (Gulf-Times.com)
 Japan’s Canon to launch operations in Saudi Arabia – Saudi
Arabia’s drive to attract foreign investment racked up another
success when Japanese multinational Canon revealed plans to
set up operations in Riyadh, Jeddah and Alkhobar, employing
300 by 2020. Canon has been operating in the UAE where it
employs 260, but is now targeting Saudi Arabia as it expands in
the Middle East and North Africa. The company is hoping that
demand for Canon products will come from small and medium

5. Page 5 of 6
enterprises (SMEs), which make up 90% of all enterprises in
Saudi Arabia, and which require efficient digital systems to
prosper. (GulfBase.com)
 Fawaz Abdulaziz Alhokair raises $300mn Islamic loan – Saudi
Arabia’s Fawaz Abdulaziz Alhokair raised a $300mn Islamic
loan with a group of regional banks, a month after concluding a
much larger facility for one of its businesses. Fawaz Abdulaziz
Alhokair signed a new Mudarabah loan agreement with
National Commercial Bank, Samba Financial Group and Abu
Dhabi Islamic Bank. The loan will be used to repay the
outstanding balance on a SR1bn syndicated loan obtained in
2014 and SR500mn in Sukuk issued in the same year and due in
2019. (Reuters)
 UAE’s banking sector maintains strong liquidity despite drop in
deposits – The UAE’s banking sector liquidity continued to
remain strong in the month of April despite sluggish growth in
both deposits and credits, according to monetary data from
Central Bank of the UAE. Data showed a monthly drop in both
system-wide credit and deposits. Gross credit contracted by
0.1% MoM in April (AED1.5bn) after seeing three consecutive
months of positive growth. The yearly rate remained steady at
2.1% YoY, as in March. The monthly contraction in April was
led by domestic loans. Overall liquidity levels remained high
with the loan-to-deposit ratio rising marginally to 96.8% in
April from 96.7% in March. (GulfBase.com)
 Dubai council to slash government fees – The Executive Council
of Dubai approved suggestions to slash government fees among
a series of economic stimulus aiming to reduce the cost of doing
business in Dubai and further cement position as destination of
choice for investments. The board members also reviewed the
objectives of the strategic programs along with the time frame
of execution. The new policy aims to slash market fees imposed
by Dubai Municipality from 5% to 2.5%, in addition to
scrapping 19 fees related to aviation industry, as Dubai aims to
attract foreign investments worth more than AED1bn in the
aviation sector. The Council also directed Land Department to
waive late payment fees on property registration imposed by
Dubai Land Department for 60 days which used to be 4%.
(GulfBase.com)
 ADIA takes top place in global real estate investment league
table – Abu Dhabi Investment Authority (ADIA) is the biggest
real estate investor in the world with about $62bn worth of
assets under management, according to a report. IPE Real
Estate and Indosuez Wealth Management compiled a list of the
100 largest institutional real estate investors. The list is
dominated by various European and North American pension
fund managers which make up 45% of the top ten. But Middle
East players, ADIA and the Qatar Investment Authority
account for a combined 26% in top ten. (GulfBase.com)
 Free zone dual licenses to benefit the Abu Dhabi’s economy –
The issuance of dual licenses for companies in Abu Dhabi free
zones to allow them to work outside the free zones and
participate in government tenders will help the economy to
grow, according to sources. “It’s a very good move that will
benefit the economy. Companies operating in free zones can bid
for businesses in the mainland. This will encourage more
companies to set up businesses in the UAE,” said Mohammad
Ali Yasin, CEO at First Abu Dhabi Bank Securities. He also said
that a lot of new measures which were announced in the last
one month or so are very positive for the UAE’s economy, be it
100% foreign ownership or granting of 10-year visa or
increasing the loan for locals. (GulfBase.com)
 Higher government spending to boost Abu Dhabi’s non-oil
sectors – The Abu Dhabi Government announced AED50bn
stimulus package to support the economic growth, following a
strong recovery in public finances of the Emirate supported by
higher oil prices and improved fiscal position. The Emirate’s
decision to inject more money into the economy through higher
spending, waiver of certain fees and terms of licensing has
come at a time when the non-oil private sector growth is poised
to play big role in the economic growth from this year.
(GulfBase.com)

6. Contacts
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
Mohamed Abo Daff QNB Financial Services Co. W.L.L.
Senior Research Analyst Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6589 PO Box 24025
mohd.abodaff@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange. Qatar National Bank (Q.P.S.C.) is regulated by the Qatar Central Bank. This publication expresses the views and
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
40.0
60.0
80.0
100.0
120.0
May-14 May-15 May-16 May-17 May-18
QSE Index S&P Pan Arab S&P GCC
(0.5%)
(0.9%)
0.1%
(0.3%)
0.4%
0.2%
(0.5%)
(1.0%)
(0.5%)
0.0%
0.5%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,299.35 0.2 0.4 (0.3) MSCI World Index 2,137.74 0.0 1.4 1.6
Silver/Ounce 16.80 0.5 2.4 (0.8) DJ Industrial 25,316.53 0.3 2.8 2.4
Crude Oil (Brent)/Barrel (FM Future) 76.46 (1.1) (0.4) 14.3 S&P 500 2,779.03 0.3 1.6 3.9
Crude Oil (WTI)/Barrel (FM Future) 65.74 (0.3) (0.1) 8.8 NASDAQ 100 7,645.51 0.1 1.2 10.8
Natural Gas (Henry Hub)/MMBtu 2.92 (0.4) (0.3) (17.5) STOXX 600 385.12 (0.5) 0.5 (3.1)
LPG Propane (Arab Gulf)/Ton 89.88 1.1 (2.2) (8.1) DAX 12,766.55 (0.6) 1.3 (3.2)
LPG Butane (Arab Gulf)/Ton 97.00 0.8 4.4 (8.2) FTSE 100 7,681.07 (0.3) 0.2 (0.9)
Euro 1.18 (0.3) 0.9 (2.0) CAC 40 5,450.22 (0.3) 0.6 0.5
Yen 109.55 (0.1) 0.0 (2.8) Nikkei 22,694.50 (0.3) 2.4 2.5
GBP 1.34 (0.1) 0.4 (0.8) MSCI EM 1,135.39 (1.2) 0.5 (2.0)
CHF 1.01 (0.5) 0.3 (1.1) SHANGHAI SE Composite 3,067.15 (1.6) (0.0) (5.8)
AUD 0.76 (0.3) 0.4 (2.7) HANG SENG 30,958.21 (1.7) 1.5 3.0
USD Index 93.54 0.1 (0.7) 1.5 BSE SENSEX 35,443.67 (0.2) (0.3) (1.6)
RUB 62.33 (0.1) 0.2 8.2 Bovespa 72,942.07 3.8 (5.3) (15.8)
BRL 0.27 5.4 1.5 (10.7) RTS 1,142.90 (2.4) (1.8) (1.0)
82.5
85.0
72.6