The QE Index rose 0.1% to close at 10,118.1. Gains were led by the Insurance and Transportation indices, gaining 1.4% and 0.5%, respectively.

1. Page 1 of 7
QSE Intra-Day Movement
Qatar Commentary
The QE Index rose 0.1% to close at 10,118.1. Gains were led by the Insurance and
Transportation indices, gaining 1.4% and 0.5%, respectively. Top gainers were
Mesaieed Petrochemical Holding Company and Qatar Islamic Insurance Company,
rising 2.8% each. Among the top losers, Islamic Holding Group fell 3.8%, while
Ooredoo was down 2.9%.
GCC Commentary
Saudi Arabia: The TASI Index rose 0.4% to close at 8,565.4. Gains were led by the
Food & Beverages and Pharma, Biotech & Life Science indices, rising 2.3% and
2.2%, respectively. Al-Baha Investment and Dev. and Savola Group rose 4.0% each.
Dubai: The DFM Index gained marginally to close at 2,643.5. The Transportation
index and the Banks index gained 0.3% each. Mashreqbank rose 5.3%, while
National Central Cooling Co. was up 2.4%.
Abu Dhabi: The ADX benchmark index fell 0.4% to close at 5,101.5. The Consumer
Staples index declined 1.6%, while the Energy index fell 1.4%. Ras Al Khaimah
Poultry & Feeding Co. declined 7.9%, while Sharjah Islamic Bank was down 5.8%.
Kuwait: The KSE Index declined 0.3% to close at 4,759.8. The Basic Materials fell
1.1%, while the Industrials index declined 1.0%. Tamdeen Investment Co. fell
13.5%, while Kuwait Syrian Holding Co. was down 8.9%.
Oman: The MSM Index rose 0.4% to close at 4,153.3. Gains were led by the Financial
and Services indices, rising 0.4% and 0.2% respectively. Al Madina Takaful rose
3.5%, while Al Anwar Ceramic Tiles was up 2.4%.
Bahrain: The BHB Index fell 0.3% to close at 1,412.6. The Commercial Bank index
declined 0.7%, while the Investment index fell marginally. Ahli United Bank
declined 1.2%, while BBK was down 1.0%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Mesaieed Petrochemical Holding 17.99 2.8 2,232.6 19.7
Qatar Islamic Insurance Company 57.00 2.8 12.3 6.1
Qatar Gas Transport Company Ltd. 20.46 2.3 460.0 14.1
Qatar Insurance Company 34.11 1.8 217.3 (5.0)
The Commercial Bank 40.81 1.8 218.6 3.6
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Mesaieed Petrochemical Holding 17.99 2.8 2,232.6 19.7
United Development Company 13.89 0.4 1,426.3 (5.8)
Qatar Aluminium Manufacturing 11.55 (1.5) 983.1 (13.5)
Aamal Company 9.80 0.0 923.9 10.9
Vodafone Qatar 8.15 (0.7) 547.8 4.4
Market Indicators 04 Mar 19 28 Feb 19 %Chg.
Value Traded (QR mn) 266.8 337.4 (20.9)
Exch. Market Cap. (QR mn) 577,741.7 578,663.5 (0.2)
Volume (mn) 9.9 9.5 5.2
Number of Transactions 6,531 5,124 27.5
Companies Traded 43 42 2.4
Market Breadth 21:18 19:20 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,123.38 0.1 0.1 (0.1) 14.1
All Share Index 3,076.70 (0.0) (0.0) (0.1) 15.0
Banks 3,786.51 0.1 0.1 (1.2) 14.0
Industrials 3,222.28 (0.1) (0.1) 0.2 15.4
Transportation 2,245.60 0.5 0.5 9.0 13.0
Real Estate 2,183.87 0.1 0.1 (0.1) 17.4
Insurance 2,949.61 1.4 1.4 (2.0) 16.2
Telecoms 919.84 (2.0) (2.0) (6.9) 19.4
Consumer 7,248.41 (0.7) (0.7) 7.3 15.1
Al Rayan Islamic Index 3,948.88 0.1 0.1 1.6 14.1
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Savola Group Saudi Arabia 32.80 4.0 683.7 22.4
Saudi Int. Petrochemical Saudi Arabia 20.72 3.3 1,539.2 3.8
Mobile Telecom. Co. Saudi Arabia 9.85 3.2 8,807.7 19.1
Fawaz Abdulaziz Al Hok. Saudi Arabia 22.30 3.2 2,326.3 1.4
Riyad Bank Saudi Arabia 22.96 2.3 634.0 15.8
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Ooredoo Qatar 65.05 (2.9) 145.4 (13.3)
Emaar Malls Dubai 1.75 (1.7) 3,229.8 (2.2)
Qurain Petrochemical Ind. Kuwait 0.37 (1.6) 271.3 2.5
Kuwait Projects Co Hold. Kuwait 0.19 (1.6) 27.2 (9.1)
Ahli United Bank Bahrain 0.82 (1.2) 2,142.7 19.0
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%
Islamic Holding Group 20.20 (3.8) 4.0 (7.6)
Ooredoo 65.05 (2.9) 145.4 (13.3)
Al Khaleej Takaful Insurance Co. 8.81 (2.5) 22.1 2.6
Qatar Navigation 66.20 (1.9) 3.7 0.3
Medicare Group 65.49 (1.6) 4.1 3.8
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
QNB Group 187.00 (0.6) 54,282.0 (4.1)
Mesaieed Petrochemical Holding 17.99 2.8 40,017.6 19.7
United Development Company 13.89 0.4 19,788.5 (5.8)
Industries Qatar 131.99 (0.8) 15,812.9 (1.2)
Masraf Al Rayan 36.99 0.2 15,009.6 (11.3)
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* 10,118.10 0.1 0.1 0.1 (1.8) 72.99 158,705.7 14.1 1.5 4.3
Dubai 2,643.51 0.0 0.3 0.3 4.5 44.17 95,251.2 8.4 1.0 5.3
Abu Dhabi 5,101.52 (0.4) (0.7) (0.7) 3.8 42.89 139,224.1 14.3 1.5 4.7
Saudi Arabia 8,565.42 0.4 0.9 0.9 9.4 708.07 540,302.0 18.9 1.9 3.3
Kuwait 4,759.75 (0.3) (0.3) (0.3) 0.4 73.88 32,757.6 16.0 0.9 4.4
Oman 4,153.25 0.4 0.2 0.2 (3.9) 3.62 17,961.0 8.6 0.8 6.2
Bahrain 1,412.58 (0.3) (0.0) (0.0) 5.6 7.62 21,622.9 9.1 0.9 5.8
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
10,100
10,120
10,140
10,160
10,180
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 7
Qatar Market Commentary
 The QE Index rose 0.1% to close at 10,118.1. The Insurance and
Transportation indices led the gains. The index rose on the back of
buying support from Qatari shareholders despite selling pressure from
GCC and non-Qatari shareholders.
 Mesaieed Petrochemical Holding Company and Qatar Islamic Insurance
Company were the top gainers, rising 2.8% each. Among the top losers,
Islamic Holding Group fell 3.8%, while Ooredoo was down 2.9%.
 Volume of shares traded on Monday rose by 5.2% to 9.9mn from 9.5mn
on Sunday. Further, as compared to the 30-day moving average of
8.7mn, volume for the day was 14.4% higher. Mesaieed Petrochemical
Holding Company and United Development Company were the most
active stocks, contributing 22.4% and 14.3% to the total volume,
respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases, Global Economic Data and Earnings Calendar
Earnings Releases
Company Market Currency
Revenue (mn)
4Q2018
% Change
YoY
Operating Profit
(mn) 4Q2018
% Change
YoY
Net Profit
(mn) 4Q2018
% Change
YoY
National Shipping Company of
Saudi Arabia*
Saudi Arabia SR 6,129.9 1.4% 1,088.2 -4.0% 481.2 -39.9%
United Electronics Company
(Extra) *
Saudi Arabia SR 4,394.1 4.4% 180.0 15.2% 161.2 15.1%
United Gulf Holding Company* Bahrain USD 104.0 302.1% – – 18.6 317.8%
Source: Company data, DFM, ADX, MSM, TASI, BHB. (*Financials for FY2018)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
03/04 EU Sentix Behavioral Indices Sentix Investor Confidence March -2.2 -3.1 -3.7
03/04 EU Eurostat PPI MoM January 0.4% 0.3% -0.8%
03/04 EU Eurostat PPI YoY January 3.0% 2.9% 3.0%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Earnings Calendar
Tickers Company Name Date of reporting 4Q2018 results No. of days remaining Status
SIIS Salam International Investment Limited 6-Mar-19 1 Due
ERES Ezdan Holding Group 10-Mar-19 5 Due
AKHI Al Khaleej Takaful Insurance Company 12-Mar-19 7 Due
IGRD Investment Holding Group 12-Mar-19 7 Due
DBIS Dlala Brokerage & Investment Holding Company 13-Mar-19 8 Due
Source: QSE
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 28.22% 33.97% (15,356,269.71)
Qatari Institutions 28.81% 18.81% 26,696,698.45
Qatari 57.03% 52.78% 11,340,428.74
GCC Individuals 0.51% 1.28% (2,074,585.47)
GCC Institutions 2.54% 3.44% (2,416,170.97)
GCC 3.05% 4.72% (4,490,756.44)
Non-Qatari Individuals 7.53% 10.70% (8,467,060.27)
Non-Qatari Institutions 32.39% 31.79% 1,617,387.97
Non-Qatari 39.92% 42.49% (6,849,672.30)

3. Page 3 of 7
News
Qatar
 QGRI posts 35.7% YoY decrease but a sharp QoQ increase in net
profit in 4Q2018 – Qatar General Insurance & Reinsurance
Company's (QGRI) net profit declined 35.7% YoY (but rose
946.2% on QoQ basis) to QR175mn in 4Q2018. EPS amounted to
QR2.81 in FY2018 as compared to QR3.51 in FY2017. In FY2018,
QGRI recorded net profit of QR245.81mn as compared to net
profit of QR307.38mn in FY2017. QGRI’s board of directors
proposed cash dividend of 10% of the nominal share value i.e.,
QR1 per share for the year ended December 31, 2018, provided
that the dividends distribution proposal be adopted by the
company’s General Assembly. (QSE)
 CBQK marks syndicated loan closure with banks – The
Commercial Bank (CBQK) organized an event to thank
‘relationship banks’ for lending their support in closing a
$750mn syndicated senior unsecured term loan facility, a press
statement stated. The banks’ group was led by Bank of America
Merrill Lynch and Mizuho Bank as joint coordinators and
mandated lead arrangers. The syndicated loan closure in
December 2018 attracted a high level of interest and was
oversubscribed 25%, displaying tremendous support that CBQK
enjoys with its relationship banks group. CBQK decided to
retain the original amount due to the strong liquidity position.
Initially launched with a value of $750mn, the transaction
received strong interest from the market and closed
significantly oversubscribed at a value of $975mn. The event
was attended by coordinating banks and mandated lead
arranger banks for the syndicate which included Australia and
New Zealand Banking Group Limited, Barclays Bank, Citibank,
Commerzbank Aktiengesellschaft, and Standard Chartered
Bank. (Qatar Tribune)
 GWCS announces establishment of new subsidiaries – Gulf
Warehousing Company (GWCS) announced the establishment
of new subsidiaries, GWC Shipping Services and ION Shipping
Services, in Qatar. GWC Shipping Services is a limited liability
company, 100% owned by GWCS and its capital is QR3,000,000.
ION Shipping Services company is also a limited liability
company, fully owned by GWCS and its capital is QR3,000,000.
Both subsidiaries are headquartered in Doha, Qatar. (QSE)
 ERES to hold its EGM on March 18 – Ezdan Holding Group’s
(ERES) Extraordinary General Meeting (EGM) will convene on
March 18, 2019. In the event of lack of quorum, the assembly
will be held on March 31, 2019. In the event of lack of quorum,
the second meeting has been scheduled on May 1, 2019. (QSE)
 QGMD announces list of candidates for board membership –
Qatari German Company for Medical Devices (QGMD)
announced opening the candidature for membership of the
board of directors of the company for the remaining term till
2021. The following candidates have submitted their
applications: (i) Saleh Jowhar Saeed Mohammed Al
Mohammad, and (ii) Khamis Mubarak Khamis Zamil Al-Kuwari
as independent member. (QSE)
 Milaha to hold its AGM and EGM on March 18 – Qatar
Navigation’s (Milaha) board of directors invited its
shareholders to attend the Ordinary General Meeting (AGM)
and Extraordinary General Assembly Meeting (EGM) which will
be held on March 18, 2019. If there is no quorum, the alternate
date will be March 24, 2019. (QSE)
 AKHI postpones its board meeting to March 12 – Al Khaleej
Takaful Insurance Company (AKHI) announced that the
company will postpone its board meeting to March 12, 2019
instead of March 5, 2019 to discuss and approve the audited
financial statements for the financial year ended December 31,
2018 and the recommendation on shareholders’ profits
distribution, which will be submitted to the General Assembly
of the company. (QSE)
 QCFS to hold its AGM and EGM on April 3 – Qatar Cinema &
Film Distribution Company’s (QCFS) board of directors invited
its shareholders to attend the AGM and EGM to be held on April
3, 2019. In case of lack of quorum, the second meeting will be
held on April 10, 2019. (QSE)
 Vodafone Qatar approves cash dividend of QR0.25 per share
and announces election of three independent board members –
Vodafone Qatar (VFQS) held its AGM and EGM on March 4,
2019. The meetings approved all resolutions on the agenda
including the board of directors’ proposal to distribute cash
dividend of 5% of the nominal share value equivalent to QR0.25
per share, totaling QR211.4mn, for the financial year ended
December 31, 2018. Under the supervision of Ministry of
Commerce and Industry representatives, the election of three
independent members to the board of directors took place for a
term of three years starting in 2019 and ending in 2022.
Following nominees were elected by majority votes – Abdulla
Nasser Al Misnad, Akbar Al Baker, and Sheikh Hamad bin
Faisal Thani Jassim Al Thani. The remaining four board
members – Rashid Fahad Al Naimi, Sheikh Saoud Abdul
Rahman Hassan Al Thani, Nasser Jaralla al Marri, and Nasser
Hassan Al Naimi were appointed previously by Vodafone and
Qatar Foundation LLC pursuant to Article 29.1 of Vodafone
Qatar’s Articles of Association. The meeting also covered the
board’s report detailing the company’s activities and its
financial position for the financial year ended December 31,
2018. (Qatar Tribune)
 Food storage project to boost downstream industries, says
Qatar Chamber’s official – The food storage and processing
facility being built at Hamad Port will not only help transform
Qatar into a regional export hub but it will also open many
opportunities to downstream industries, according to Qatar
Chamber’s First Vice Chairman, Mohamed bin Towar Al-
Kuwari. Al-Kuwari pointed out that the QR1.6bn Strategic Food
Security Facilities Project follows the public-private
partnership (PPP) model. “The project is a partnership between
Qatar’s government and private sectors, and this is a good
opportunity for the private sector to show its performance and
strength. It also shows how the private sector could cooperate
with the government further in more projects. The private
sector will run the project, which will offer a lot of opportunities
for downstream industries,” Al-Kuwari emphasized, noting that
construction of the food storage facility is on track and will be
delivered in time. (Gulf-Times.com)
 QFBQ appoints Ali Al Obaidly as its new CEO – Qatar First Bank
(QFBQ) appointed eminent Qatari business and banking figure,
Ali al Obaidly as its CEO. QFBQ’s board of directors has

4. Page 4 of 7
welcomed the appointment of Obaidly as CEO with a view to
realizing the bank’s vision to maximize shareholder rights,
according to a press release. Al Obaidly said, “I will be
developing an investment and operational strategy covering
the bank’s business and investment portfolios, internal
processes and organizational structure. This strategy will be
presented to the board of directors soon for discussion, approval
and implementation. The previous situation was a challenge for
the board and shareholders, but we will work together to rectify
the process. I’m asking shareholders for support over this
transitional and sensitive phase.” (Qatar Tribune)
 Qatar, European Union sign landmark air transport agreement –
Qatar and the European Union initialed a comprehensive air
transport agreement at the European Commission’s
headquarters in Brussels. The first of its kind agreement
between the European Union and a GCC member state, the
agreement allows for open airspace between Qatar and all the
European Union’s member states with unlimited access to their
respective territories, in addition to daily shipment flights
between the two sides. (Gulf-Times.com)
 Qatar Airways to unveil enhanced economy class product at
ITB Berlin – Qatar Airways will unveil its enhanced economy
class product at ITB Berlin 2019. ITB Berlin is the world’s
largest travel and tourism trade show. Conference delegates
and visitors to ITB 2019 are invited to the airline’s stand to see
for themselves the innovative technology and design that
Qatar Airways has brought to its enhanced economy class
product. There will be an opportunity for visitors to interact
with the airline’s latest products and to experience Qatar
Airways’ world-renowned five-star hospitality. The airline will
add a number of exciting new destinations to its extensive
route network in 2019, including Malta. (Gulf-Times.com)
International
 US construction spending falls, fourth quarter GDP seen revised
lower – US construction spending unexpectedly fell in
December as investment in both private and public projects
dropped, leading economists to expect that the government will
trim its economic growth estimate for the fourth quarter. The
report from the Commerce Department was further evidence
the economy lost momentum at the tail end of 2018. Growth is
slowing as the stimulus from a $1.5tn tax cut and increased
government spending ebbs. Trade tensions between the US and
China as well as slowing global economies are also hurting
domestic activity. The construction spending report extended
the run of weak December economic data, that has included
retail sales, housing starts, trade and home sales. Construction
spending declined 0.6% after an unrevised 0.8% increase in
November. Economists polled by Reuters had forecast
construction spending rising 0.2% in December. Construction
spending increased 1.6% on a YoY basis. It rose 4.1% in 2018,
the weakest reading since 2011. The release of the December
report was delayed by a five-week partial shutdown of the
government that ended on January 25. (Reuters)
 US intends to end preferential trade treatment for Turkey –
The US intends to end Turkey’s preferential trade treatment
under a program that allowed some exports to enter the US
duty free, the US Trade Representative’s Office stated. Turkey
is no longer eligible to participate in the Generalized System of
Preferences program because it is sufficiently economically
developed. Office of the United States Trade Representative
(USTR) stated in August it was reviewing Turkey’s eligibility in
the program after the NATO ally imposed retaliatory tariffs on
US goods in response to American steel and aluminum tariffs.
Removing Turkey from the program would not take effect for at
least 60 days after notifications to Congress and the Turkish
government, and it will be enacted by a presidential
proclamation. (Reuters)
 UK shoppers slow their spending ahead of Brexit, some
stockpile – British consumers reined in their spending in
February ahead of Brexit and shoppers focused on buying food,
including for stock-piling, rather than non-essential items, data
released showed. British Retail Consortium (BRC) stated total
sales edged up by an annual 0.5%, a sharp slowdown from
growth of 2.2% in January. Separately, Barclaycard stated its
broader measure of consumer spending rose by 1.2%, the
weakest increase since the company began recording spending
on its cards in 2015. Sustained spending by Britain’s consumers
took the edge off a slowdown in the world’s fifth-biggest
economy for much of the period since the 2016 Brexit
referendum although consumer confidence levels are close to
five-year lows as the scheduled Brexit date of March 29
approaches. (Reuters)
 Eurozone’s producer prices rise slightly faster than expected in
January – Eurozone’s producer prices rose slightly faster than
expected in January, pushed up by a jump in energy,
intermediate and capital goods, data showed. The European
Union’s statistics office Eurostat stated prices at factory gates
in the 19 countries sharing the Euro rose 0.4% MoM for a 3.0%
YoY increase. Economists polled by Reuters had expected a
0.3% monthly rise and a 2.9% annual gain. Eurostat stated
energy prices rebounded in January, rising 0.4% on the month,
after a 2.7% fall in December. Intermediate goods prices rose
0.3% after a 0.4% decline in December and capital goods prices
rose 0.6% after no change in December. Producer prices are an
early indication of trends in consumer prices, because unless
their changes are absorbed by intermediaries and retailers, they
are passed on to consumers. The European Central Bank wants
to keep consumer inflation below but close to 2% over the
medium term. Consumer prices rose 1.5% YoY in February
accelerating from 1.4% in January because of the still high
contribution of energy. (Reuters)
 Eurozone’s investor morale improves on hopes of Asian
tailwind – Investor morale in the Eurozone improved in March,
largely due to hopes that an upturn in Asia might help the
single currency bloc, a survey showed. Sentix research group
said its investor sentiment index for the Eurozone rose to -2.2
from -3.7 in February. Analysts had expected a reading of -3.1.
A sub-index on the current situation also weakened for the
seventh month running, slumping to its weakest level since
September 2016. Expectations improved for the second month
in a row, mainly on hopes that a revival of economic activity in
Asia, except Japan, would provide impetus for the Eurozone.
(Reuters)
 Japan’s February services PMI shows new business grows at
fastest pace in almost six years – Japanese services sector
activity expanded in February as new business grew at the

5. Page 5 of 7
fastest pace in almost six years, a business survey showed, a
sign that domestic demand remains in good health in early
2019. The Markit/Nikkei Japan Services Purchasing Managers’
Index (PMI) rose to a seasonally adjusted 52.3 in February from
51.6 in January. The index stayed above the 50 threshold that
separates contraction from expansion for the 29th month. The
index measuring new business increased to 54.5 from 52.1 in
January, reaching its highest since May 2013 due to stronger
sales, new product launches and an increase in demand from
overseas, the survey showed. The composite PMI, which
includes both manufacturing and services, eased slightly to
50.7 in February from 50.9 in January, because factory activity
last month contracted at the fastest pace in two-and-a-half
years due to the US-China trade war. (Reuters)
 China to slash taxes, boost lending to shore up slowing
economy – China will cut billions of Dollars in taxes and fees,
increase infrastructure investment, and step up lending to small
firms, Premier Li Keqiang said, as the government boosts
stimulus to shore up an economy growing at its slowest pace in
almost 30 years. The government is targeting economic growth
of 6.0% to 6.5% in 2019, Li said at opening of the annual
meeting of China’s parliament, less than the 6.6% gross
domestic product growth reported last year. Sources told
Reuters earlier this year that China would cut its 2019 growth
target to 6.0% to 6.5% from the 2018 target of around 6.5% as
demand at home and abroad ebbed, and a trade war with the
United States heightened economic risks. Adopting a target
range rather than a single growth figure gives policymakers’
room to maneuver as the world’s second-largest economy slows
further. (Reuters)
Regional
 OPEC likely to defer output policy decision until June – OPEC
and its partners are unlikely to decide on their output policy in
April as it would be too early to get a clear picture of the impact
of their supply cuts on the market by then, sources said. The
sources said that the production policy by the so-called OPEC+
alliance is expected to be agreed on in June with an extension of
the pact the likely scenario so far, but much depends on the
extent of US sanctions on both OPEC members Iran and
Venezuela. “So far the likely decision is to extend the
agreement in June. Nothing much is planned for April, just to
discuss the OPEC and non-OPEC (cooperation pact),” sources
said. OPEC and its allies meet next in Vienna on April 17-18 and
delegates say another gathering is scheduled for June 25-26.
Another OPEC source said the most likely outcome of the June
meeting was “a rollover” of the current oil supply cuts.
(Reuters)
 EFG Hermes advising on $500mn M&A deal in Saudi Arabia,
more in pipeline – Egypt’s EFG Hermes is working on a $500mn
merger and acquisition (M&A) in Saudi Arabia and expects
more deals to come out of the Kingdom this year, especially
from the private sector, its Head of Investment Banking,
Mohammed Fahmi said. Saudi Arabia has made attracting
greater foreign investment a key part of its economic Vision
2030 plan as it tries to diversify the economy away from its
reliance on oil. The Kingdom’s impending inclusion in the FTSE
Russell emerging markets index this month is expected to draw
billions of Dollars of foreign fund flows. “Saudi I think will be
very busy, “I’m seeing a lot of RFPs (request for proposals)
coming from Saudi for IPOs... Private sector companies looking
to go public, which I think is a valuable thing,” he said.
(Reuters)
 Saudi Arabia's ACWA Power signs financing for $700mn
desalination project – Saudi Arabia’s power and water plants
developer ACWA Power stated that it has signed financing and
hedging agreements for a $700mn desalination project in the
Kingdom. The project, Rabigh-3 IWP, will generate 600,000
cubic meters a day, making it one of the largest desalination
projects of its type in the world, the company stated. The initial
mandated lead arrangers for the project financing are Natixis,
MUFG, SAMBA and Riyad Bank. Riyad Bank has already
provided an equity bridge loan for the transaction earlier this
month, it stated. (Reuters)
 Jabal Omar starts private placement of up to $533mn Sukuk –
Jabal Omar Development Company has started privately
placing $533mn of Sukuk with local investors. The offering,
with five-year tenure, will take place from March 4 to April 3,
2019, the company stated. HSBC Holdings Plc’s Saudi Arabia’s
unit, JPMorgan Chase & Co. and GIB Capital are managing the
process. (Bloomberg)
 Al Yamamah Steel Industries Company announces project sign
off with Europea de Construcciones Metalicas SA – Al
Yamamah Steel Industries Company has announced signing the
contract worth $106.7mn to supply Solar Steel Structure to
Dubai Solar Park Project - Phase IV with Europea de
Construcciones Metalicas SA on March 3, 2019. The contract
duration is four years and delivery will start in September 2019
for 26 months, which can be extended. The financial impact of
this contract will appear in the quarter ended September 2019
till the end of the 26 months’ supply period that can be
extended. (Tadawul)
 UAE’s January consumer prices fall 2.4% YoY; falls 0.1% MoM –
The Federal Competitiveness and Statistics Authority in Dubai
published the UAE’s consumer price indices which showed that
in January, the consumer prices fell 2.4% YoY and it fell 0.1%
MoM in January as compared to a fall of 0.3% in the previous
month. Transportation price index fell 4.4% in January as
compared to a fall of 1.7% in the previous month. (Bloomberg)
 Dubai posts strong real estate sales in February – Dubai Land
Department in Dubai published data on real estate transactions
which showed that sales increased to AED8,533mn in February
from AED5,796mn in January and 118.8% YoY. Land sales
increased to AED4,106mn in February from AED2,734mn in
January and 53.8% YoY. Unit sales increased to AED3,720mn in
February from AED2,427mn in January and 252.5% YoY.
Mortgage deals increased to AED16,176mn in February from
AED7,653mn in January and 68.8% YoY. Land mortgage deals
increased to AED14,303mn in February from AED7,036mn in
January and 69.7% YoY. Unit mortgage deals increased to
AED1,156mn in February from AED463mn in January and
59.3% YoY. Building mortgage deals increased to AED717mn in
February from AED154mn in January and 67.4% YoY.
(Bloomberg)
 Kuwait Petroleum Corp signs MoU with Britain – State-owned
Kuwait Petroleum Corp (KPC) has signed a memorandum of
understanding (MoU) with the British government for up to

6. Page 6 of 7
$3bn in loans and credit facilities, the company stated. The
UK’s credit agency, UK Export Finance, will provide loans and
credit facilities for exports of British goods and services in
projects carried out by KPC and its subsidiaries, KPC stated.
(Peninsula Qatar)
 Bahrain sells BHD70mn 91-day bills; bid-cover at 2.44x –
Bahrain sold BHD70mn of bills due on June 5, 2019. Investors
offered to buy 2.44 times the amount of securities sold. The bills
were sold at a price of 98.987, having a yield of 4.05% and will
settle on March 6, 2019. (Bloomberg)

7. 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
Mehmet Aksoy, PhD QNB Financial Services Co. W.L.L.
Senior Research Analyst Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6589 PO Box 24025
mehmet.aksoy@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNB FS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNB FS 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
opinions of QNB FS 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
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Page 7 of 7
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg (
#
Market was closed on March 4, 2019) Source: Bloomberg (*$ adjusted returns,
#
Market was closed on March 4, 2019)
45.0
70.0
95.0
120.0
Feb-15 Feb-16 Feb-17 Feb-18 Feb-19
QSEIndex S&P Pan Arab S&P GCC
0.4%
0.1%
(0.3%) (0.3%)
0.4%
(0.4%)
0.0%
(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 1,286.72 (0.5) (0.5) 0.3 MSCI World Index 2,090.40 (0.3) (0.3) 11.0
Silver/Ounce 15.09 (0.8) (0.8) (2.6) DJ Industrial 25,819.65 (0.8) (0.8) 10.7
Crude Oil (Brent)/Barrel (FM Future) 65.67 0.9 0.9 22.1 S&P 500 2,792.81 (0.4) (0.4) 11.4
Crude Oil (WTI)/Barrel (FM Future) 56.59 1.4 1.4 24.6 NASDAQ 100 7,577.57 (0.2) (0.2) 14.2
Natural Gas (Henry Hub)/MMBtu 4.25 33.2 33.2 30.8 STOXX 600 375.09 (0.1) (0.1) 9.9
LPG Propane (Arab Gulf)/Ton 67.88 1.7 1.7 6.1 DAX 11,592.66 (0.4) (0.4) 8.7
LPG Butane (Arab Gulf)/Ton 71.50 0.7 0.7 2.9 FTSE 100 7,134.39 0.2 0.2 9.7
Euro 1.13 (0.2) (0.2) (1.1) CAC 40 5,286.57 0.1 0.1 10.6
Yen 111.75 (0.1) (0.1) 1.9 Nikkei 21,822.04 1.2 1.2 7.8
GBP 1.32 (0.2) (0.2) 3.3 MSCI EM 1,053.62 0.2 0.2 9.1
CHF 1.00 0.0 0.0 (1.7) SHANGHAI SE Composite 3,027.58 1.1 1.1 24.5
AUD 0.71 0.2 0.2 0.6 HANG SENG 28,959.59 0.5 0.5 11.8
USD Index 96.68 0.2 0.2 0.5 BSE SENSEX#
36,063.81 0.0 0.0 (1.8)
RUB 65.75 (0.3) (0.3) (5.7) Bovespa#
94,603.75 0.0 0.0 10.2
BRL#
0.26 0.0 0.0 2.8 RTS 1,185.83 (0.1) (0.1) 11.0
98.6
92.7
83.9