The QE index in Qatar declined 1.0% led by losses in the telecom and transportation indices. Top losers were Qatar Navigation and Al Khaleej Takaful Group. Trading volume increased but remained below the 30-day average. Regional indices were mixed with Saudi Arabia up marginally while Dubai and Abu Dhabi declined.

1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index declined 1.0% to close at 9,246.2. Losses were led by the
Telecoms and Transportation indices, declining 2.8% and 2.1% respectively.
Top losers were Qatar Navigation and Al Khaleej Takaful Group, falling 3.0%
and 2.9% respectively. Among the top gainers, Qatar National Cement Co.
rose 1.0%, while Al Ahli Bank gained 0.9%.
GCC Commentary
Saudi Arabia: The TASI index gained marginally to close at 7,527.4. Gains
were led by the Real Estate Development and Building & Construction indices,
rising 1.8% and 0.7% respectively. Gulf Union Cooperative Insurance Co. rose
9.8%, while Allianz Saudi Fransi Cooperative Insurance Co. was up 8.8%.
Dubai: The DFM index fell 1.4% to close at 2,360.6. The Real Estate &
Construction and Banking indices declined 1.6% each. Emirates NBD fell
2.3%, while Emaar Properties was down 2.1%.
Abu Dhabi: The ADX benchmark index declined 0.9% to close at 3,632.4. The
Insurance index fell 3.6%, while the Energy index was down 1.6%. Abu Dhabi
National Insurance Co. and Abu Dhabi National Takaful Co. declined 10.0%
each.
Kuwait: The KSE index fell 0.2% to close at 8,059.9. Losses were led by the
Health Care and Telecommunication indices, declining 1.9% and 1.6%
respectively. First Takaful Insurance Co. fell 8.3%, while Sokouk Holding Co.
was down 7.6%.
Oman: The MSM index declined 1.2% to close at 6,390.3. The Banking &
Investment index fell 1.7%, while the Industrial index was down 0.9%. Gulf
Investment Services declined 7.1%, while Al Anwar Holding was down 5.1%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar National Cement Co. 101.00 1.0 15.6 (5.6)
Al Ahli Bank 56.00 0.9 8.9 14.3
Qatar Insurance Co. 62.10 0.8 11.9 15.1
Industries Qatar 162.90 0.4 419.2 15.5
Masraf Al Rayan 27.30 0.4 1,615.4 10.1
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
United Development Co. 23.35 (2.5) 2,330.1 31.2
Masraf Al Rayan 27.30 0.4 1,615.4 10.1
Barwa Real Estate Co. 26.50 (1.9) 800.0 (3.5)
Qatar Gas Transport Co. 17.81 (1.6) 782.6 16.7
Mazaya Qatar Real Estate Dev. 11.21 (1.8) 741.7 1.9
Market Indicators 20 June 13 19 June 13 %Chg.
Value Traded (QR mn) 372.7 268.6 38.8
Exch. Market Cap. (QR mn) 509,085.3 513,152.0 (0.8)
Volume (mn) 10.3 6.1 69.0
Number of Transactions 4,589 3,540 29.6
Companies Traded 37 35 5.7
Market Breadth 7:30 11:22 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,210.68 (1.0) (2.5) 16.8 N/A
All Share Index 2,342.04 (0.9) (2.3) 16.3 12.7
Banks 2,196.05 (0.6) (2.0) 12.7 11.8
Industrials 3,148.96 (0.3) (1.9) 19.9 11.7
Transportation 1,644.05 (2.1) (4.1) 22.7 11.6
Real Estate 1,853.88 (2.1) (3.9) 15.0 11.8
Insurance 2,270.27 0.1 (2.6) 15.6 14.9
Telecoms 1,278.97 (2.8) (2.8) 20.1 14.6
Consumer 5,480.57 (1.1) (1.8) 17.3 22.4
Al Rayan Islamic Index 2,811.07 (0.9) (2.6) 13.0 14.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Comm. Facilities Co. Kuwait 0.31 5.1 2.4 (10.1)
Kuwait Cement Co. Kuwait 0.35 2.9 285.9 (20.1)
United Real Estate Co. Kuwait 0.11 1.9 850.5 (8.3)
Salhia Real Estate Co. Kuwait 0.34 1.5 11.8 (8.1)
Nat. Real Estate Co. Kuwait 0.19 1.1 1,650.2 49.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Ins. Co. Abu Dhabi 5.40 (10.0) 11.3 0.0
Sharjah Islamic Bank Abu Dhabi 1.41 (6.0) 949.0 53.3
Bank of Sharjah Abu Dhabi 1.60 (5.3) 800.0 25.0
Nat. Mobile Telecomm. Kuwait 2.24 (4.3) 13.5 (4.3)
Nat. Bank of Abu Dhabi Abu Dhabi 11.90 (3.6) 422.6 27.1
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%
Qatar Navigation 71.80 (3.0) 71.4 13.8
Al Khaleej Takaful Group 43.20 (2.9) 19.7 17.8
Vodafone Qatar 9.01 (2.8) 618.6 7.9
Qatar Telecom 121.60 (2.8) 80.1 16.9
United Development Co. 23.35 (2.5) 2,330.1 31.2
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 162.90 0.4 67,809.6 15.5
United Development Co. 23.35 (2.5) 54,472.2 31.2
Masraf Al Rayan 27.30 0.4 43,954.0 10.1
Barwa Real Estate Co. 26.50 (1.9) 21,245.6 (3.5)
Commercial Bank of Qatar 69.60 (1.6) 20,867.7 (1.8)
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* 9,246.19 (1.0) (2.5) 0.1 10.6 102.34 139,794.8 11.7 1.7 5.0
Dubai 2,360.59 (1.4) (1.6) (0.3) 45.5 114.39 60,635.6 15.2 1.0 3.6
Abu Dhabi 3,632.36 (0.9) (0.8) 2.0 38.1 97.20 105,234.9 11.1 1.3 4.8
Saudi Arabia 7,527.36 0.0 0.0 1.7 10.7 1,642.37 401,383.1 16.0 2.0 3.7
Kuwait 8,059.86 (0.2) 1.6 (2.9) 35.8 135.33 108,820.7 25.3 1.4 3.3
Oman 6,390.25 (1.2) (2.6) (0.4) 10.9 19.69 22,369.5 10.9 1.7 4.4
Bahrain 1,201.69 (0.1) 0.3 0.4 12.8 14.91 21,345.4 8.8 0.8 4.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,200
9,250
9,300
9,350
9,400
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 1.0% to close at 9,246.2. The Telecoms
and Transportation indices led the losses. The index declined on
the back of selling pressure from non-Qatari shareholders
despite buying support from Qatari shareholders.
 Qatar Navigation and Al Khaleej Takaful Group were the top
losers, falling 3.0% and 2.9% respectively. Among the top
gainers, Qatar National Cement Co. rose 1.0%, while Al Ahli
Bank gained 0.9%.
 Volume of shares traded on Thursday rose by 69.0% to 10.3mn
from 6.1mn on Wednesday. However, as compared to the 30-
day moving average of 12.1mn, volume for the day was 15.0%
lower. United Development Co. and Masraf Al Rayan were the
most active stocks, contributing 22.6% and 15.7% to the total
volume respectively.
Source: Qatar 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
Saudi British Bank
(SABB)
CI
Saudi
Arabia
FSR/ Support Level/ LT
FCR/ ST FCR
A/2/A+/A1 A+/2/A+/A1 * Stable –
Islamic
Development Bank
(IDB)
Fitch
Saudi
Arabia
LT IDR/ ST IDR AAA/F1+ AAA/F1+ – Stable –
AlBaraka Islamic
Bank (AIB)
CI Bahrain
FSR/ LT FCR/ ST FCR/
Support Level
BB/BB+/A3/2 BB/BB+/A3/2 – Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, ICR – Issuer Credit Rating) (*Rating upgrade for FSR)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
06/20 US Department of Labor Initial Jobless Claims 15-June 354K 340K 336K
06/20 US Department of Labor Continuing Claims 8-June 2951K 2958K 2991K
06/20 US Bloomberg Indices Markit US PMI Preliminary June 52.2 52.7 52.3
06/20 US Bloomberg Bloomberg Economic Expectations June -1 – -1
06/20 US Bloomberg Bloomberg Consumer Comfort 16-June -29.4 – -31.3
06/20 US Nat. Assoc. of Realtors Existing Home Sales May 5.18M 5.00M 4.97M
06/20 US Nat. Assoc. of Realtors Existing Home Sales MoM May 4.20% 0.60% 0.60%
06/20 EU Markit PMI Manufacturing June 48.7 48.6 48.3
06/20 EU Markit PMI Services June 48.6 47.5 47.2
06/20 EU Markit PMI Composite June 48.9 48.1 47.7
06/20 EU Eurostat Euro-Zone Consumer Confidence June -18.8 -21.5 -21.9
06/20 France Markit PMI Manufacturing June 48.3 47.0 46.4
06/20 France Markit PMI Services June 46.5 44.8 44.3
06/20 Germany Destasis Producer Prices (MoM) May -0.30% -0.10% -0.20%
06/20 Germany Destasis Producer Prices (YoY) May 0.20% 0.30% 0.10%
06/20 Germany Markit PMI Manufacturing June 48.7 49.9 49.4
06/20 Germany Markit PMI Services June 51.3 50.0 49.7
06/20 Italy ISTAT Industrial Orders s.a. (MoM) April 0.60% – 1.80%
06/20 Italy ISTAT Industrial Orders n.s.a. (YoY) April -1.60% – -10.00%
06/20 Italy ISTAT Industrial Sales s.a. (MoM) April 0.60% – -0.90%
06/20 Italy ISTAT Industrial Sales n.s.a. (YoY) April -7.20% – -7.60%
06/20 China HSBC HSBC Flash Manufacturing PMI June 48.3 49.1 49.2
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 66.99% 56.41% 39,446,438.62
Non-Qatari 33.00% 43.59% (39,446,438.62)

3. Page 3 of 6
News
Qatar
 QPI plans NGL plant maintenance next April, to sell
refinery’s nitrogen plant – Qatar Petroleum International (QPI)
has plans to shutdown its natural gas liquids NGL-3 plant from
April 1-28, 2014 for maintenance. Meanwhile, QPI is also
planning to sell and remove its refinery’s nitrogen plant in the
Mesaieed industrial city. (Bloomberg)
 QPI signs MoU with Electricity of Djibouti – Qatar Petroleum
International (QPI) has signed a MoU with Electricity of Djibouti
to jointly develop a 60 MW wind power plant in the Republic of
Djibouti. (AME Info)
 Balfour wins £56mn Qatar highway deal – Balfour Beatty has
garnered a £56mn highways contract in Qatar. The Qatar
government has asked Balfour Beatty’s professional services
division, Parsons Brinckerhoff, to design 16 miles of
expressways, including bridges and interchanges. (Bloomberg)
 Samsung C&T gets $693mn Doha Metro order – South
Korean builder Samsung C&T Corp said it has obtained an
order worth $693mn to build part of the underground rail line of
the Qatar Doha Metro Project from the Qatar Railways
Company. Samsung C&T said that the contract is slated to be
completed in June 2018. (GulfBase.com)
 Qatar to mull new $23bn UK investments – The outgoing
British Ambassador to Qatar, Michael O’Neill said Qatar is
planning to invest another $15-23bn in the UK in the next few
years, bringing its total investment to around $57bn. Qatari
investments in the UK have reached $34bn, including stakes in
grocery chain Sainsbury’s, British Airports Authority, the London
Stock Exchange and Barclays (Bloomberg)
 Qatari Diar to pay €200mn for W Hotel in Barcelona – Qatari
Diar is set to buy the luxury W Hotel in Barcelona, Spain, for an
estimated price of €200mn, which is around the 2009
development investment. (Bloomberg)
 Qatar real estate transactions drop by 15% – The value of
real estate transactions in Qatar dropped by 15% YoY during
the first five months of 2013. The value of total transactions
during January-May 2013 stood at QR17.5bn compared to
QR20.6bn during the same period in 2012. The total transaction
value in January 2013 dropped by a huge 46.5% compared to
January 2012. February also saw a drop in the transaction value
compared to February 2012. However, the transactions picked
up in all the remaining months – though marginally, but failed to
cross the total value posted during the corresponding period in
2012. (Peninsula Qatar)
International
 Bank of Italy: Italy economy expects to shrink at slower
pace in 2Q2013 – The Bank of Italy said the Italian economy is
expected to contract at a slower pace in 2Q2013 and could
stabilize by the second half. Italy is experiencing its longest
recession in the post-war era and its economy has shrunk by
0.6% in 1Q2013 compared to 4Q2012. The Bank of Italy’s
Deputy Director General Fabio Panetta said there is no room for
Italy to stimulate growth by increasing its budget deficit, because
of the prevailing tension on financial markets and the need to
reduce its massive debt. He also warned of a risk where
institutional investors could shift away from Italian companies to
foreign markets. (Economic Times)
 Eurozone: Still time to solve Greek funding gap; IMF sees
Greek financing deal in July – Senior Eurozone officials and
the IMF played down concerns that Greece could face a shortfall
in its finances, saying there was still time to remedy the
situation. Earlier, officials told that some of Greece's creditors –
which include the European Central Bank and the IMF – were
reluctant to extend more finance to the country because of
worries that part of Greece's financing broke ECB rules.
Meanwhile, IMF’s First Deputy Managing Director David Lipton
said the IMF hopes to reach a deal to extend fresh credit with
Greece in July, after a time-out in talks for the government to
review its economic strategy. (Economic Times, Reuters)
 BoJ Governor: Markets will stabilize over time – The Bank of
Japan Governor Haruhiko Kuroda stressed that financial
markets are likely to stabilize over time, reflecting improvements
in Japan's economy. However, Kuroda warned that uncertainty
surrounding the economy remains high, and the central bank will
carefully watch market developments. He said Japan's economy
is likely to resume a moderate recovery as overseas growth
picks up moderately and domestic demand remains resilient due
to monetary easing and various other stimulus measures.
(Reuters)
 China warns banks not to expect help with liquidity squeeze
– The People's Bank of China told domestic banks that they
would not get any assistance in dealing with their tightening
liquidity conditions. The central bank told officials of 18 banks
they should scale back their leverage ratios to cope with the
cash squeeze. Money market rates in China have hit record
highs in the recent days. (Reuters)
Regional
 QNB Group: GCC region continue to have ample liquidity to
finance its large investment projects – According to a report
by the QNB Group, the GCC region countries continue to have
ample liquidity to finance their large investment projects planned
over the next few years. The report showed that the GCC
region’s liquidity, as measured by the money supply (M2),
increased by 11.9% YoY during 1Q2013 to reach $860bn. This
represents a further increase in the growth of M2, compared
with 2012 (10.4%). The report also showed that the higher
energy prices and increased hydrocarbons production are
feeding the non-oil sector through higher liquidity. The report
said the narrower definition of the money supply (M1) in the
GCC region increased rapidly (16.8%) during 1Q2013, while
medium-term deposits went up moderately (7.7%). The QNB
Group said Qatar recorded the highest money supply growth
rate in the region during 1Q2013 (37.4%). The money supply
growth during 1Q2013 was mainly driven by higher private
sector deposits, while it was largely due to foreign currency
deposits from the public sector in 2012. (Qatar Tribune)
 Saudi exports surge 6.5% to SR1.5tn – According to a report
released by the Central Department of Statistics & Information
(CDSI), commodity exports from Saudi Arabia rose by 6.5% in
2012 to touch SR1.5tn compared to SR1.4tn in 2011. The report
showed that the value of Saudi imports increased by 18.2% to
reach SR583.5bn in 2012 compared to SR493.4bn in 2011,
while the trade balance achieved a surplus of SR873bn
compared to SR874bn. The report also showed that the value of
non-oil exports stood at SR191bn. (GulfBase.com)
 S&P: Kingdom strong fundamentals aid positive economic
outlook – Standard & Poor’s (S&P) said sound fiscal
management and healthy reserves have set Saudi Arabia on
track for an upgrade of its key ratings, improving the Kingdom’s
growth prospects. S&P also said that a proven track record of
high and steady non-oil growth – averaging at 8% during 2005-
2012 – has contributed to the overall average real GDP growth

4. Page 4 of 6
of 6.5%. Moreover, S&P said it would consider taking Saudi
Arabia’s rating to the next level within the next two years, if the
Kingdom maintains its pace of economic growth.
(GulfBase.com)
 Saudi construction projects pipeline worth SR375bn – Saudi
Arabia has a long construction project pipeline worth SR375bn,
which makes it the major driving force behind the long-term
growth of the MENA region’s construction sector. The Kingdom
is projected to invest a total of SR16.1tn on various construction
projects by 2020. Moreover, under its development plan, the
Saudi government is poised to invest more than SR1.4tn on
social and economic infrastructure by 2014, with housing
projects, schools and colleges accounting for a large percentage
of the total expenditure. (GulfBase.com)
 Saudi ministry approves new SR275mn cement firm – The
Minister of Commerce & Industry Tawfiq al-Rabiah said the
ministry has approved the creation of a new Riyadh-based
“Umm Al-Qura Cement Company” valued SR275mn.
(Bloomberg)
 Roots Group increases its capital to SR600mn – Saudi
Arabia-based Roots Group's AGM has approved increasing the
company’s capital from SR500mn to SR600mn. This will be
done by issuing 1 bonus share for every 5 existing shares
owned by those shareholders who are registered in the group's
registry at the closing of trading on the day of the EGM. (AME
Info)
 Riyad Bank to distribute SR975mn dividend for 1H2013 –
Riyad Bank said it will distribute dividends worth SR975mn,
equivalent to SR0.65 a share for 1H2013. (Reuters)
 SDF to provide $70mn export credit to Turkish banks – The
Saudi Development Fund (SDF) is set to provide a $70mn credit
line to finance the Kingdom’s non-oil goods & service exports to
Turkey. (Bloomberg)
 MEDGULF announces deposit of the fractions shares’ sale
proceeds – The Mediterranean & Gulf Insurance & Reinsurance
Company (MEDGULF) has completed the sales of fractions
shares arising out of the company’s capital increase. MEDGULF
had fractioned 15,288 shares and were sold at a value of
SR324,174.7 with an average price of SR21.2. This amount will
be deposited into MEDGULF’s shareholders’ account on June
30, 2013. (Tadawul)
 UAE Central Bank’s foreign assets surge to AED241bn in
April – The UAE Central Bank's foreign currency assets rose to
AED241bn in April 2013, the highest level since 2007. These
assets included Dubai government bonds worth AED36.7bn.
The rise in assets was reported even as an increase in deposits
offset a drop in foreign securities holdings. (GulfBase.com)
 Abu Dhabi Commercial Bank insurance unit plans IPO –
Abu Dhabi Commercial Company for Islamic Insurance is
planning to sell 55mn shares representing 55% of capital for one
dirham a piece. The company is a unit of Abu Dhabi Commercial
Bank. (Bloomberg)
 SCA reviewing rules on money transfer, securities – The
UAE corporate watchdog, Securities & Commodities Authority
(SCA) is reviewing the rules on transfer of money, including
shares & securities, and opening an investment account.
(GulfBase.com)
 Mubadala, RDIF to tap Russian investment opportunities –
Mubadala Development Company and the Russian Direct
Investment Fund (RDIF) have launched a $2bn co-investment
fund to pursue opportunities in Russia. Mubadala and RDIF are
committing $1bn each to this fund. (GulfBase.com)
 Al Jaber eyes final debt deal by September 30 – UAE-based
Al Jaber Group is aiming to finalize a multi-billion dollar debt
deal with its creditors by the end of September 2013, which
would cap nearly three years of negotiations. (Gulf-Times.com)
 Dubai Holdings’ unit to sell Tunisie Telecom stake – Dubai
Holdings’ unit, Emirates International Telecommunications is
selling its 35% stake in state-owned Tunisie Telecom, which it
had bought in 2006 for $2.3bn. (GulfBase.com)
 Thuraya secures multi-million dollar financing from DIB –
Thuraya Telecommunications Company has secured a term
financing facility through the Dubai Islamic Bank (DIB). Thuraya
said it will use the financing proceeds to upgrade its network
infrastructure and support further development of its product
portfolio, including the Thuraya SatSleeve satellite adaptor for
smartphones. (GulfBase.com)
 DEWA launches AED30mn water pipeline project in Hatta –
The Dubai Electricity & Water Authority (DEWA) has launched a
new water pipeline project in Hatta worth AED30mn, in line with
its focus on enhancing its infrastructure and meeting the growing
demand for its services across Dubai. This new project includes
the planning and laying of a new water pipe distribution network
ranging in size from 100-450mm in diameter over a total length
of 30 kilometers. (GulfBase.com)
 Etihad, SITA sign 10-year partnership – Etihad Airways has
signed a 10-year partnership with global aerospace IT and
communication provider, SITA. A joint announcement said the
multi-million dollar agreement will provide the airline with the
latest global infrastructure solutions, while reducing the cost and
complexity of IT. Under the agreement, SITA will deliver
infrastructure and end-user computing solutions powered by the
Air Transport Industry Cloud, which will ensure that up-to-date
services are continually available to Etihad as it expands its
global presence. (GulfBase.com)
 Dubai to open AED27mn Quran Park in 2014 – Dubai
Municipality is building a Quran theme park worth AED27mn,
which is scheduled to open in September 2014. To be called the
“Holy Quran Park”, this 60-hectare theme park will be located in
Al Khawaneej and has been designed from an Islamic
perspective. (Bloomberg)
 Chesterton to unveil AED1.4bn properties in Dubai – The
international property agency, Chesterton is all set to unveil two
properties worth AED1.4bn in Dubai for investors in the UAE.
They are Barratt London’s new AED800mn Queensland Terrace
project and Altitude’s 27-storey residential tower worth
AED600mn. (GulfBase.com)
 Alstom provides trams to RTA for Dubai project – France-
based Alstom Transport has presented the first of its 11 Citadis
tramways to the Dubai Roads & Transport Authority (RTA) for
the new Al Sufouh tramway project. These tramways are being
designed & assembled at Alstom’s French plant and are
scheduled to be commissioned in 2014. (GulfBase.com)
 Emirates in talks for partnership with Africa-based Fastjet –
Emirates Airline is in talks with the African low-cost carrier
Fastjet for a potential partnership, as the Tanzania-based carrier
was granted permission to launch international flights.
(Bloomberg)
 DP World, JNPT sign construction contract for new
container terminal – DP World and India-based Jawaharlal
Nehru Port Trust have signed a contract, wherein DP World will
construct and operate a new container terminal “the Nhava
Sheva (India) Gateway Terminal” in Navi Mumbai. (AME Info)

5. Page 5 of 6
 Dubai Properties completes Phase 1 of Bay Square in
Business Bay – Dubai Properties Group has announced that
two buildings of the Phase 1 in its Bay Square development
located in Business Bay are complete and a further four are at
the final stages of completion. (AME Info)
 Select Property sells 90% of £71mn residential tower on
Dubai Marina – UK-based property investment company, Select
Property has sold over 90% of a £71mn residential tower on
Dubai Marina in just five months. (AME Info)
 Al Noor Hospitals raises £221mn in London IPO – Al Noor
Hospitals Group has raised £221mn in the UAE’s first IPO in
2013 as the healthcare services provider sought funds to
expand. Al Noor sold its 38.5mn shares (32.9% of its equity), at
575 pence each. Al Noor said the sale was managed by
Deutsche Bank, Goldman Sachs Group and HSBC Holdings,
which raised £97mn pounds in new money. (Bloomberg)
 Adma-Opco inks AED2.8bn EPC deal with NPCC – The Abu
Dhabi Marine Operating Company (Adma-Opco) has signed a
AED2.8bn EPC contract for Umm Lulu full-field development
project package-1 with the National Petroleum Construction
Company (NPCC). (GulfBase.com)
 Emal installs final structure for its pot-line expansion – Abu
Dhabi-based Emirates Aluminum Company (Emal) has installed
the final steel structure for the pot-line of its Phase II expansion.
(GulfBase.com)
 Three more bridges for Abu Dhabi’s financial free zone –
Abu Dhabi’s investment fund, Mubadala has asked for
expression of interest from contractors to build three bridges
connecting its new financial district in Abu Dhabi, Al Maryah
Island, with the rest of Abu Dhabi. Mubadala said that while one
of the bridges would be used for Abu Dhabi’s new light railway,
the others would be regular road bridges. (GulfBase.com)
 Gulftainer acquires 51% stake in Saudi-based GSCCO –
UAE-based logistics company, Gulftainer has acquired a 51%
stake in Saudi Arabia’s Gulf Stevedoring Contracting Company
(GSCCO). This acquisition allows Gulftainer to assume the full
management of three Saudi terminals, located in Jeddah and
Jubail. (Bloomberg)
 Kuwait finds oil prices fair, producing 3mn bpd – Kuwait's
acting oil minister Mustapha Al-Shamali said the current oil
prices are “fair” and the country is producing around 3mn barrels
of crude per day (bpd). (GulfBase.com)
 US-Kuwaiti trade exchange reaches $15.7bn in 2012 – The
Senior Commercial Officer in the US Embassy in Kuwait Dao M.
Le said the US-Kuwait trade exchange has swelled from
$10.5bn in 2011 to $15.7bn in 2012, rising 50%. Le also said
that the US exports to Kuwait in 2012 amounted to $2.7bn as
compared with $13bn of imports from Kuwait. (Bloomberg)
 KFH: Capital increase oversubscribed by its shareholders –
The Kuwait Finance House (KFH) said its 20% capital increase
had been oversubscribed by its shareholders. (Reuters)
 KIPCO hires Rothschild to advice on TV division IPO – The
Kuwait Projects Company (KIPCO) has hired financial services
firm Rothschild to advice on an IPO of its pay-TV company,
OSN. (Reuters)
 CBO: BoP situation comfortable in Oman– The Central Bank
of Oman (CBO) said the balance of payments (BoP) situation in
the country continues to remain comfortable, due to a robust
growth in oil production and global prices remaining at high
levels. CBO said that though the growth in merchandise exports
slowed down to 10.7% in 2012 from 28.7% in 2011, trade
surplus stood higher at OMR10.2bn compared to OMR9.8bn in
2011. CBO also said that the current account witnessed a
surplus of OMR3.1mn in 2012, lower than OMR3.4bn in 2011
and in terms of percent to GDP, the surplus stood at 10.4% in
2012 as compared to 12.8% in 2011. Moreover, CBO said the
Omani economy was again a net lender in 2012 with the capital
& financial account posting a net outflow of OMR2.4bn,
meanwhile, the overall balance registered a modest surplus in
2012 leading to an increase in the foreign exchange reserves by
OMR397mn. (GulfBase.com)
 GPCA: Oman petrochemical output reached 9.5mt in 2012 –
According to a report of the Gulf Petrochemicals & Chemicals
Association (GPCA), Oman’s petrochemicals production
capacity reached 9.5mn tons in 2012, up from 8.9mn tons in
2011. The report also said that Oman’s petrochemicals capacity
is equivalent to 7.4% of the GCC region’s total capacity and the
country is the third largest in the region, behind Saudi Arabia
and Qatar, which account for 86.4mn and 16.8mn tons of
capacity respectively. (GulfBase.com)
 Medallion, Takamul sign MoU to evaluate rare-earth
production in Oman – Canadian specialist mining firm,
Medallion Resources Ltd has signed a MoU with Takamul
Investment Company to conduct studies investigating the
viability of operating a monazite-based, rare-earth extraction
facility in Duqm. (GulfBase.com)
 ABOB set to open 6th Islamic branch in Salalah – Ahlibank
of Oman (ABOB) is set to open the sixth branch of its Al Hilal
Islamic Banking Division in Salalah at the Salalah Gardens
Commercial Complex on June 30, 2013. (GulfBase.com)
 Muscat Grand Mall set for OMR50mn expansion – The
Muscat Grand Mall is planning an extension worth OMR50mn,
which will see 100 new retail outlets being added to its current
capacity. (Bloomberg)
 Bahrain’s inflation soars to 3.6% YoY in May – According to a
report released by the Bahrain’s statistics office, the country’s
inflation climbed to a four-month high of 3.6% YoY in May 2013
as compared to 2.9% May 2012, mainly due to a sharp rise in
housing and utility prices. The report showed that the housing &
utility costs rose 9.6% YoY in May. The report also showed that
the food prices increased 2.8% YoY and 0.4% MoM. Meanwhile,
analysts polled by Reuters in April expected an average inflation
of 2.8% in 2013, unchanged from 2012. (GulfBase.com)

6. Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@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
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Page 6 of 6
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
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
QE Index S&P Pan Arab S&P GCC
0.0%
(1.0%)
(0.2%)
(0.1%)
(1.2%)
(0.9%)
(1.4%)(1.6%)
(1.2%)
(0.8%)
(0.4%)
0.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,296.40 0.9 (6.8) (22.6) DJ Industrial 14,799.40 0.3 (1.8) 12.9
Silver 20.13 2.1 (8.9) (33.7) S&P 500 1,592.43 0.3 (2.1) 11.7
Crude Oil (Brent) 101.44 (0.6) (4.3) (10.1) NASDAQ 100 3,357.25 (0.2) (1.9) 11.2
Euro 1.31 (0.7) (1.7) (0.5) DAX 7,789.24 (1.8) (4.2) 2.3
Yen 97.90 0.6 3.8 12.9 FTSE 100 6,116.17 (0.7) (3.0) 3.7
GBP 1.54 (0.6) (1.8) (5.1) CAC 40 3,658.04 (1.1) (3.9) 0.5
CHF 1.07 (0.7) (1.4) (2.0) Nikkei 13,230.13 1.7 4.3 27.3
AUD 0.92 0.2 (3.7) (11.3) Shanghai 2,073.10 (0.5) (4.1) (8.6)
USD Index 82.32 0.5 2.0 3.2 BSE Sensex 18,774.24 0.3 (2.1) (3.4)
RUB 32.83 (0.1) 3.5 7.5 Bovespa 47,056.04 (2.4) (4.6) (22.8)
BRL 0.45 0.6 (4.3) (8.7) RTS 1,245.72 0.2 (3.7) (18.4)
132.9
119.0
108.2