The document provides an overview of stock market activity and economic indicators for Qatar and other GCC countries on September 16th. It notes that the QE index in Qatar declined 0.2% led by losses in the real estate and banking sectors. Top gainers included Medicare Group rising 3.5% while top losers were Dlala Brok. & Inv. Holding Co. falling 2.5%. Other GCC markets had mixed performance for the day. The document also provides commentary on recent economic data and forecasts for Qatar, including expectations for GDP growth of 6.5% in 2013 and 6.8% in 2014 driven by infrastructure investment ahead of the 2022 World Cup.

1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.2% to close at 9,762.7. Losses were led by the Real
Estate and Banking & Financial Services indices, declining 0.4% and 0.3%
respectively. Top losers were Dlala Brok. & Inv. Holding Co. and Al Khaleej
Takaful Group, falling 2.5% and 2.0% respectively. Among the top gainers,
Medicare Group rose 3.5%, while Gulf Warehousing Co. gained 3.4%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.5% to close at 8,070.6. Gains were led
by the Ins. and Hot. & Tou. indices, rising 1.4% and 1.2% respectively. Nat.
Co. for Glass Ind. rose 8.3%, while Al Babtain Power & Tele. was up 5.0%.
Dubai: The DFM index fell 0.5% to close at 2,646.1. The Consumer Staples
index declined 9.9%, while the Services index was down 2.0%. Emirates
Refreshments Co. fell 9.9%, while Takaful Emarat was down 3.9%.
Abu Dhabi: The ADX benchmark index declined 0.1% to close at 3,783.9. The
Industrial index fell 1.5%, while the Energy index was down 1.3%. Fujairah
Building Industries declined 9.4%, while Union Cement Co. was down 9.2%.
Kuwait: The KSE index rose 0.8% to close at 7,788.7. The Technology index
gained 3.7%, while the Telecommunication index was up 2.1%. Al Mal
Investment rose 9.4%, while Coast Investment & Development was up 8.8%.
Oman: The MSM index declined 0.2% to close at 6,606.7. Losses were led by
the Banking & Inv. and Ind. indices, declining 0.5% and 0.1% respectively.
Oman & Emirates Inv. fell 2.8%, while Al Batinah Dev. & Inv. was down 2.1%.
Bahrain: The BHB index rose 0.5% to close at 1,191.0. The Commercial
Banking index gained 0.8%, while the Services index was up 0.6%. Seef
Properties rose 3.2%, while Ahli United Bank was up 1.5%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Medicare Group 50.40 3.5 985.6 41.2
Gulf Warehousing Co. 42.00 3.4 139.9 25.4
Gulf International Services 49.90 1.8 181.2 66.3
Zad Holding Co. 66.00 1.7 8.7 12.2
Al Meera Consumer Goods Co. 137.00 1.5 113.8 11.9
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
United Development Co. 21.72 0.4 1,451.3 22.0
Medicare Group 50.40 3.5 985.6 41.2
Qatar Gas Transport Co. 19.70 (0.4) 599.2 29.1
Masraf Al Rayan 29.45 (0.3) 532.5 18.8
Mazaya Qatar Real Estate Dev. 11.74 0.3 450.9 6.7
Source: Bloomberg (* in QR)
Market Indicators 16 Sep 13 15 Sep 13 %Chg.
Value Traded (QR mn) 345.6 477.8 (27.7)
Exch. Market Cap. (QR mn) 532,495.9 533,240.1 (0.1)
Volume (mn) 8.2 13.5 (38.9)
Number of Transactions 4,017 5,135 (21.8)
Companies Traded 39 40 (2.5)
Market Breadth 17:18 38:1 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,948.66 (0.2) 1.5 23.3 N/A
All Share Index 2,457.41 (0.1) 1.5 22.0 13.0
Banks 2,382.73 (0.3) 0.9 22.2 12.6
Industrials 3,106.71 (0.1) 2.0 18.3 11.4
Transportation 1,828.38 0.5 3.3 36.4 12.5
Real Estate 1,770.70 (0.4) 2.0 9.9 13.4
Insurance 2,247.65 0.1 1.1 14.5 9.3
Telecoms 1,443.74 (0.2) 0.8 35.6 15.2
Consumer 5,900.63 0.4 1.8 26.3 24.3
Al Rayan Islamic Index 2,810.66 0.2 1.9 13.0 14.4
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Nat. Bank of Fujairah Abu Dhabi 3.73 14.8 10.0 (18.0)
Abu Dhabi Nat. Hotels Abu Dhabi 2.51 13.6 800.0 41.8
Nat. Investments Co. Kuwait 0.16 5.3 13,763.0 21.2
Advanced Petrochem. Saudi Arabia 34.00 4.9 1,340.5 29.8
Gulf Warehousing Co. Qatar 42.00 3.4 139.9 25.4
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
NBQ Abu Dhabi 2.80 (9.1) 6.2 51.4
Kuwait Finance House Kuwait 0.80 (2.4) 4,952.2 15.6
Knowledge Eco. City Saudi Arabia 14.95 (2.0) 9,503.1 18.7
Nat. Industries Group Kuwait 0.27 (1.9) 6,589.0 23.8
Dana Gas Abu Dhabi 0.59 (1.7) 16,372.0 31.1
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%
Dlala Brok. & Inv. Holding Co. 21.55 (2.5) 58.9 (30.7)
Al Khaleej Takaful Group 40.00 (2.0) 5.2 9.1
Barwa Real Estate Co. 25.55 (1.2) 419.4 (6.9)
Salam International Investment 12.20 (0.9) 287.3 (3.6)
Aamal Co. 14.45 (0.6) 11.5 6.2
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 154.40 (0.4) 51,743.1 9.5
Medicare Group 50.40 3.5 48,936.5 41.2
United Development Co. 21.72 0.4 31,580.8 22.0
QNB Group 171.50 (0.3) 23,472.4 31.0
Qatar Navigation 82.30 1.0 19,499.8 30.4
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* 9,762.70 (0.2) 1.5 1.5 16.8 94.93 146,276.6 12.3 1.7 4.7
Dubai 2,646.10 (0.5) 4.2 4.9 63.1 389.21 64,745.3 15.4 1.1 3.4
Abu Dhabi 3,783.87 (0.1) 1.7 1.3 43.8 107.72 108,879.4 10.8 1.3 4.8
Saudi Arabia 8,070.59 0.5 2.2 3.9 18.7 1,761.60 426,958.4 16.9 2.1 3.6
Kuwait 7,788.69 0.8 2.7 2.0 31.2 231.60 110,819.0 18.2 1.2 3.7
Oman 6,606.66 (0.2) 0.5 (1.3) 14.7 12.30 23,172.6 10.9 1.6 3.9
Bahrain 1,191.01 0.5 0.8 0.2 11.8 0.40 21,809.4 8.4 0.9 4.0
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,720
9,740
9,760
9,780
9,800
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 QE index declined 0.2% to close at 9,762.7. The Real
Estate and Banking & Financial Services indices led the losses.
The index declined on the back of selling pressure from non-
Qatari shareholders despite buying support from Qatari
shareholders.
 Dlala Brok. & Inv. Holding Co. and Al Khaleej Takaful Group
were the top losers, falling 2.5% and 2.0% respectively. Among
the top gainers, Medicare Group rose 3.5%, while Gulf
Warehousing Co. gained 3.4%.
 Volume of shares traded on Monday declined by 38.9% to 8.2mn
from 13.5mn on Sunday. Further, as compared to the 30-day
moving average of 8.8mn, volume for the day was 6.4% lower.
United Development Co. and Medicare Group were the most
active stocks, contributing 17.7% and 12.0% to the total volume
respectively.
Source: Qatar Exchange (* as a % of traded value)
Global Economic Data
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
09/16 US Federal Reserve System Industrial Production MoM August 0.40% 0.50% 0.00%
09/16 US Federal Reserve System Capacity Utilization August 77.80% 77.90% 77.60%
09/16 US Federal Reserve System Manufacturing (SIC) Production August 0.70% 0.50% -0.40%
09/16 EU Eurostat CPI MoM August 0.10% 0.10% -0.50%
09/16 EU Eurostat CPI YoY August 1.30% 1.30% 1.60%
09/16 EU Eurostat CPI Core YoY August 1.10% 1.10% 1.10%
09/16 UK Rightmove Rightmove House Prices MoM September -1.50% – -1.80%
09/16 UK Rightmove Rightmove House Prices YoY September 4.50% – 5.50%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatar’s GDP to grow 6.5% in 2013 – According to a report by
the QNB Group, Qatar’s GDP will grow 6.5% in 2013 and at a
higher pace of 6.8% in 2014, with large-scale public
infrastructure projects becoming the key growth driver. The
report said Qatar’s investment in infrastructure projects offset
the relatively low growth in the hydrocarbon sector due to the
moratorium on additional natural-gas development projects in
the North Field. These infrastructure projects, which are part of
the build-up to the 2022 World Cup, will stimulate buoyant
economic activity in construction, financial services, and
housing. Overall, these infrastructure projects are expected to
be worth 14.8% of GDP during 2013 and 2014. The government
announced a record budget for 2013-14, with overall
expenditures increasing by 18%. As a result, hydrocarbon
revenues are likely to be significantly higher than budgeted. At
the same time, the Qatari government is estimated to overrun its
capital budget by 11% to meet the requirements of the
infrastructure projects currently underway. Meanwhile, the report
mentioned that Qatar’s crude oil production will rise to 800,000
bpd by 2017 on the back of higher investments and
development plans. The report added that Qatar produced an
average of 726,000 bpd in the first seven months of 2013, down
from a peak annual average of 845,000 bpd in 2007. (Gulf-
Times.com)
 Qatar’s current account surplus to remain high – According
to a report by the QNB Group, rising exports from Qatar and
higher crude prices will keep the country’s current account
surplus high, averaging at 34.1% of the GDP in 2013 and in
2014. The report said the relatively high oil prices would
continue to produce large current account surpluses for the
country. QNB Group expects Brent crude oil prices to average
around $105 per barrel in 2013-14, which will sustain
hydrocarbon export receipts. This, coupled with rising exports of
GTL, petrochemicals and fertilizers, is likely to offset the strong
demand for imports driven by public investment and the growing
population. Accordingly, the current account surplus is likely to
remain around 33-36% of GDP over the medium term. Overall,
QNB Group expects a fiscal surplus of 4.7% of GDP in 2013 and
2.6% of GDP in 2014. Over the medium-term, it projects a
moderation in hydrocarbon revenues on softer oil prices and a
further increase in current and capital expenditures, leading to
smaller surpluses. (Gulf-Times.com)
 Qatari banks to maintain robust profitability – According to a
report by the QNB Group, Qatari banks are set to maintain
robust profitability during 2013-14 by deriving benefits from the
country’s rising infrastructure spending and their global
expansion activities. The report found that profits reached
$8.9bn in 1H2013, equivalent to a return on average equity
(ROAE) of 15.2% for reporting banks. Higher lending, low
provisioning and a low cost base have supported the banks’
overall profitability, even though stiffer competition has
marginally reduced ROAE in recent years. QNB Group expects
increased profitability in 2013-14 as rising public infrastructure
spending and a growing population provide ample opportunities
for credit growth. Further, Qatari banks will continue to expand
internationally as global banking asset prices remain relatively
attractive. (Gulf-Times.com)
 Qatar’s CPI unchanged on MoM basis in August – According
to data released by the Ministry of Development Planning &
Statistics, Qatar’s Consumer Price Index (CPI) for August 2013,
stayed at the previous month’s level of 114.5, showing no
Overall Activity Buy %* Sell %* Net (QR)
Qatari 71.13% 64.16% 24,073,974.60
Non-Qatari 28.87% 35.84% (24,073,974.60)

3. Page 3 of 6
change when compared to the CPI of July 2013. However it
shows a rise of 3.1% when compared to the CPI of August,
2012. A comparison of the CPI of August, 2013 with that of CPI
of July, 2013 at major group level, however, shows increases in
the prices of the “miscellaneous goods & services” (0.7%),
“furniture, textiles and home appliance” (0.5%), and “rent, fuel
and energy” (0.3%), which were offset by the decreases in the
prices of “transport and communications” (0.5%) and “food,
beverages and tobacco” (0.3%). In YoY comparison, increases
were recorded in all groups with the exception of “miscellaneous
goods & services” where prices declined by 2.5%. The major
increases were recorded in the group “entertainment, recreation
and culture” where prices increased by 9.2% mainly attributable
to education related goods and services, and in “rent, fuel and
energy” group by 6.9% caused by the rising trend in the rental of
residential buildings. A CPI exclusive of “rent, fuel and energy”
group has also been calculated, after eliminating the effect of
rent, the overall index reached 126.2, showing a decrease of
0.1% compared to the CPI of July 2013, and an increase of
1.8% when compared to CPI of August 2012. (QSA)
 S&P: Qatar’s Islamic banking is world’s fastest growing
system – According to a report released by the S&P, a surge in
demand for local credit to finance government infrastructure and
investment projects has made Qatar's Islamic banking system
the fastest growing in the world. The total balance sheet of
Qatar's Islamic banks in 2012 stood at $54bn. S&P expects this
asset base to exceed $100bn by 2017, assuming that the
Islamic banks will grow by an average of 15% over the next five
years. Credit growth is expected to accelerate in 2014, when
major infrastructure projects start in preparation for the 2022
World Cup. The ratings agency believes this will bolster the
domestic demand for credit in the country and support the
lending activities of its Islamic banks. (Bloomberg)
 Qatar’s energy sector diversification strategy going well –
The Minister of Energy & Industry HE Dr. Mohammed bin Saleh
Al Sada said the diversification strategy of Qatar’s energy sector
is successfully going ahead in the changing global market. He
added that until early 2010, Qatargas delivered LNG to only
seven countries. This number had grown to 21 as of early 2013.
He also noted that Asia will remain the centre of interest for
Qatar because of the region’s robust economic growth,
geographical proximity in terms of global LNG trade and its
demand for cleaner energy. Qatar also sees new Asian markets
emerging, such as Indonesia and Malaysia. (Peninsula Qatar)
 Qatar's oil & gas sector buoys investor confidence –
According to a survey conducted by Qatar 2013 Investor Index,
an overwhelming majority of 93% respondents rated current
business conditions in Qatar's oil & gas sector as positive, and
86% believe that conditions will remain positive in the next 12
months. With a reading of 82.3 on the Qatar 2013 Investor
Index, Qatar shows a high degree of investor confidence. The
Qatar 2013 Investor Index is based on the response of 43 oil &
gas executives and it also includes responses from diplomats,
academics and policy makers. (Qatar Tribune)
 Ezdan opens first phase of City project with 1,300 housing
units – Ezdan Holding Group has completed the first phase of
Ezdan City in Wakair area, which houses over 1,300 residential
units for the corporate sector. The second phase opening is
expected to be announced during 1Q2014 and is likely to be
allocated to families only. (Qatar Tribune)
 Tasweeq sells Al-Shaheen at record premium – Tasweeq
has sold Qatari Al-Shaheen crude at a record high price despite
poor refining margins. Premiums for Tasweeq’s medium-heavy
Al-Shaheen crude oil for November loading averaged at around
$3.5 a barrel to Dubai quotes, up from around $1.5 for the
previous month. Tasweeq had offered 8 cargoes of 600,000
barrels of Al-Shaheen crude for November loading. (Gulf-
Times.com)
International
 IMF disburses $113mn for bailed-out Cyprus – The IMF has
completed the first review of its bailout program for Cyprus,
enabling the disbursement of $113mn. The fund said the total
disbursement under its $1.3bn loan program for Cyprus has
reached $226mn. The IMF facility for Cyprus is part of a broader
$13bn three-year bailout program along with the European
Stability Mechanism for the island nation. (Reuters)
 Japanese FM: Hard to cut corporate tax while raising sales
tax – The Japanese Finance Minister Taro Aso reiterated his
cautious view on a possible corporate tax cut to cushion the
blow from a planned sales tax hike, as the government prepares
to draw up an economic package by the end of this month. Taro
Aso did not reveal the size of the package, but reiterated that
the government must not resort to extra borrowing if it were to
prepare an extra budget for the current fiscal, given the need for
fiscal reforms. (Reuters)
 Spain’s deficit-cut in line with year-end target – Spain’s
Economy Minister Luis de Guindos said the country’s budget
deficit is heading toward a year-end target of 6.5% of GDP and
the government is not considering any major new fiscal steps.
The government has implemented wide-ranging budget cuts to
slim down the deficit from 7% of GDP in 2012. (Reuters)
Regional
 Fitch: Saudi Arabia has potential for ratings upgrade –
Saudi Arabia has the potential for a ratings upgrade during the
next 18 months. The Kingdom has currently rated AA-, but
further labor-market reforms and diversification of the economy
could prompt an upgrade. (Bloomberg)
 Kingdom to have fifth international airport – Saudi Arabia will
soon have its fifth international airport with the nearly completed
Al Ahsa Airport all set to compete for Bahraini and Qatari traffic.
The Al Ahsa Airport currently operates only two to four flights
per week, but was given international status by the Saudi
Arabian Civil Aviation Authority (GACA) in 2011. A study
conducted by GACA prior to the approval found that the number
of passengers would grow by 300,000 each year between 2015
and 2020. (Bloomberg)
 Saudi Transport Ministry signs road contracts worth
SR5.6bn – The Saudi Transport Minister Jabara Al Seraisry has
signed contracts worth SR5.6bn to implement 68 new road
projects in various parts of the Kingdom. These new projects
have been approved by the current fiscal budget. He also said
new contracts would be awarded shortly to carry out remaining
projects approved by this year’s budget. (GulfBase.com)
 UAE insurance sector to grow 10% in 2013 – The UAE
Insurance Authority’s Director General Ibrahim Obaid al Zaabi
said that the insurance sector in the country is likely to expand
by about 10% in 2013. The total premiums underwritten in 2012
stood at AED26.8bn, reflecting an increase of 9.5% YoY. The
UAE's insurance market has expanded at an annual average of
9.6% between 2008 and 2012. al Zaabi also said that the
insurance sector currently contributes around 1% of the
country’s GDP and aims to expand that to 3% by 2020.
(Reuters)
 BLME seeks listing on Nasdaq Dubai in October – The Bank
of London & the Middle East (BLME) is seeks to listing on the
Nasdaq Dubai exchange in October 2013. BLME said it would

4. Page 4 of 6
list in Dubai through a holding company, offering 195.7mn
shares at an expected listing price of $2.57 each, implying a
share sale worth $503mn. No new shares will be issued; rather
the shares would be sold by existing shareholders, who would
receive 25 shares in the holding company for each BLME share.
(GulfBase.com)
 DIB signs deal with Deutsche Bank for euro clearing – The
Dubai Islamic Bank (DIB) has signed an agreement with
Deutsche Bank (DB), which will allow DIB to utilize DB’s euro
cross-border payment clearing solutions and its European trade
expertise to facilitate letter of credit in Europe. (GulfBase.com)
 DAMAC awards SR353mn contract to Saudi Binladin’s
subsidiary – DAMAC Properties Company has awarded the
main construction contract worth SR353mn for its Riyadh
project, “DAMAC Esclusiva Luxury Serviced Apartments” to
Saudi Binladin Group’s subsidiary, the Haramain Gate for
Construction. (AME Info)
 GEMS Education to raise $500mn through 20% stake sale –
Dubai-based school operator, Global Education Management
Systems (GEMS Education) is planning to sell its 20% stake in
order to raise $500mn for its expansion plan. GEMS Education
operates around 100 private schools across the Gulf region and
had raised a $545mn loan from local banks in April 2013 for new
investments in schools in the region and for refinancing.
(Reuters)
 StanChart signs AED225mn financing deal with ENSHAA –
The Standard Chartered Bank (StanChart) has entered into an
AED225mn agreement with real estate developer ENSHAA to
provide financing facility for the D1 Tower project in Dubai. The
project, which is located near the Palazzo Versace
development, is scheduled to be completed in 2H2014.
(Bloomberg)
 DWMS obtains 3-year contract to handle waste from DAC –
Dubai-based Dulsco Waste Management Services (DWMS) has
obtained a three-year contract from the Dubai Airports Company
(DAC) to handle waste at Dubai International Airport and Dubai
World Central. Beginning with immediate effect, this contract
covers the collection and transfer of waste from terminals and
aircrafts, cleaning of all airport facilities, as well as the
separation of all recyclable waste. (AME Info)
 Intercoil International inks deal with Bobmil Group – Intercoil
International Company has signed its first foreign licensing
agreement with Kenya-based Bobmil Group of Companies. This
agreement will allow Bobmil Group to exclusively manufacture
and sell Intercoil's bedding products in Kenya. (AME Info)
 Abu Dhabi’s inflation rose 1% in January-August 2013 –
According to the data released by the Statistics Center–Abu
Dhabi (SCAD), consumer inflation stood at 1.0% during the first
eight months of 2013 compared with the same period in 2012.
The consumer price index (CPI) rose to 123.8 points during the
first eight months of 2013, up from 122.6 points for the same
period of 2012, reflecting the combined outcome of the upward
and downward changes in the prices of all the consumer basket
items. (Bloomberg)
 Al Hilal Bank to meet investors on sukuk issue – Abu Dhabi-
based Al Hilal Bank CEO Mohamed Berro said the bank is
meeting with potential investors in Asia, Europe and the Middle
East next week as it gears up to sell its inaugural $500mn
sukuk. He said the bank is aiming to issue the sukuk to finance
growth and broaden its funding sources as part of a $2.5bn
debt-raising program. The bond will be issued soon after next
week’s roadshow, depending on market conditions. The last
step before full readiness is the roadshow, and then it will launch
as soon as the market permits. (Gulf-Times.com)
 FGB may buy Barclays’ retail banking in UAE – The First
Gulf Bank’s (FGB) CEO Andre Sayegh said the bank may seek
to buy Barclays’ retail banking operations in the UAE, which is
on sale following a review by Barclays of its operations in the
Gulf Arab state. (Reuters)
 EAG aims to become global aluminum conglomerate – The
Emirates Aluminum Company’s (EMAL) President & CEO
Saeed Fadhel Al Mazrooei said Emirates Aluminum Global
(EAG), which is under formation, is aiming to become an
international aluminum conglomerate with interests from bauxite
mining to aluminum refining and carbon production. EAG will be
an umbrella organization comprising several companies
operating in different segments in the aluminum industry at a
global scale. Al Mazrooei said EAG will also run mega projects
such as the Shaheen aluminum refinery, bauxite explorations in
New Guinea and investment in carbon production in China.
(GulfBase.com)
 Gulf Capital appoints advisors and arranging banks for Gulf
Marine’s IPO – Abu Dhabi-based Gulf Capital has appointed
UK-based investment bank Rothschild to advice on its renewed
attempt to issue shares of its oil & gas services firm, Gulf
Marine, on an overseas stock exchange. For this IPO, Gulf
Capital is also set to appoint Bank of America Merrill Lynch,
Barclays and JP Morgan Chase as the arranging banks.
(Reuters)
 Kizad inks AED533mn musataha agreement Brasil Foods –
The Khalifa Industrial Zone Abu Dhabi (Kizad) has entered into
a AED533mn musataha agreement with Brazil-based food
processing company, Brasil Foods (BRF). Under this
agreement, BRF will be provided with 1,743,00 square foot land
plot in the food manufacturing cluster of Kizad Area A, which will
be used to produce diverse products such as meat products,
marinated processed foods and other bread-based foods. This
unit is expected to be fully operational by 2014 and will have a
production capacity of 80,000 tons annually. (GulfBase.com)
 Al Anwar Holding’s BoD accepts proposal to sell land at
OMR2.5mn – Al Anwar Holdings’ (AAH) board of directors has
accepted the proposal to sell a 5,000 square meter plot at
Airport Heights area at a consolidated price of OMR2.5mn, net
of all brokerage, commissions, taxes and charges. This
transaction is subject to second party (buyer) acceptance and
formal transfer of the land at the Ministry of Housing. The
present carrying value of the land is OMR3mn and hence, the
company would be booking a loss of OMR0.5mn on this
transaction. (MSM)
 CBB’s weekly T-bills oversubscribed by 100% – The Central
Bank of Bahrain’s (CBB) this week’s issue of BHD45mn treasury
bills has been oversubscribed by 100%. These bills carry a
maturity of 91 days and will mature on December 18, 2013. The
weighted average rate of interest is 0.79%, which remains
unchanged over the previous issue. (GulfBase.com)
 Bahrain signs MoU with China to improve health services –
Bahrain has entered into a MoU with China to cooperate in
various aspects of healthcare in order to achieve common
interests and improve health services. Under this agreement,
Bahrain and China seek to achieve partnership and cooperation
of private sector institutions working in the area of medicines
and medical devices. (Bloomberg)
 Investcorp plans to repurchase its 100,000 preference
shares – Investcorp Bank is planning to offer a repurchase of up

5. Page 5 of 6
to 100,000 preference shares that represent 19.4% of the
company's total preference shares outstanding. (Reuters).
 Batelco enters in agreement with Epsilon – The Bahrain
Telecommunications Company (Batelco) has entered into an
agreement with Epsilon's Global Network Exchange in London
and Paris as a part of global services expansion across Europe.
Under this agreement, Epsilon will offer network connectivity
across the Middle East through Batelco’s network and carry
Middle Eastern telecom traffic globally. This agreement will allow
Batelco to extend its current portfolio of global services such as
Global Ethernet (EPL, EVPL, VPLS) and Global MPLS (Layer 2
and 3) from anywhere in the Middle East to Europe and the US.
(Bahrain Bourse)

6. Contacts
Saugata Sarkar Ahmed M. Shehada Keith Whitney Sahbi Kasraoui
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*Closed on September 16)
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QE Index S&PPan Arab S&P GCC
0.5%
(0.2%)
0.8%
0.5%
(0.2%)
(0.1%)
(0.5%)
(1.0%)
(0.5%)
0.0%
0.5%
1.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,312.98 (1.0) (1.0) (21.6) DJ Industrial 15,494.78 0.8 0.8 18.2
Silver/Ounce 21.82 (1.8) (1.8) (28.1) S&P 500 1,697.60 0.6 0.6 19.0
Crude Oil (Brent)/Barrel (FM
Future)
110.07 (2.4) (2.4) (0.9) NASDAQ 100 3,717.85 (0.1) (0.1) 23.1
Natural Gas (Henry
Hub)/MMBtu
3.64 1.1 1.1 6.2 STOXX 600 313.42 0.6 0.6 12.1
North American Spot LPG
Propane Price
113.25 (0.7) (0.7) 26.5 DAX 8,613.00 1.2 1.2 13.1
North American Spot LPG
Normal Butane Price
133.88 (1.7) (1.7) (22.6) FTSE 100 6,622.86 0.6 0.6 12.3
Euro 1.33 0.3 0.3 1.1 CAC 40 4,152.22 0.9 0.9 14.0
Yen 99.08 (0.3) (0.3) 14.2 Nikkei* 14,404.67 0.0 0.0 38.6
GBP 1.59 0.1 0.1 (2.2) MSCI EM 1,001.76 1.5 1.5 (5.1)
CHF 1.08 0.3 0.3 (1.3) SHANGHAI SE Composite 2,231.40 (0.2) (0.2) (1.7)
AUD 0.93 0.8 0.8 (10.4) HANG SENG 23,252.41 1.5 1.5 2.6
USD Index 81.30 (0.2) (0.2) 1.9 BSE SENSEX 19,742.47 0.0 0.0 1.6
RUB 32.27 (0.6) (0.6) 5.7 Bovespa 53,821.63 0.0 0.0 (11.7)
BRL 0.44 0.1 0.1 (10.0) RTS 1,436.14 2.8 2.8 (5.9)
140.3
126.5
114.5