The QSE Index rose marginally to close at 11,521.3, led by gains in the Insurance and Industrials indices. Top gainers were Gulf International Services and Qatar National Cement Co, while Mannai Corp and Ahli Bank were the top losers. Trading activity rose compared to the previous day but was lower than the 30-day average. In other news, DBIS announced agenda for shareholder meetings to approve bonus shares distribution, while QOIS's AGM approved an 8% cash dividend.

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose marginally to close at 11,521.3. Gains were led by the
Insurance and Industrials indices, rising 1.2% and 0.3%, respectively. Top
gainers were Gulf International Services and Qatar National Cement Co., rising
3.7% and 3.2%, respectively. Among the top losers, Mannai Corp. fell 8.8%,
while Ahli Bank was down 2.0%.
GCC Commentary
Saudi Arabia: The TASI Index rose 0.1% to close at 9,319.7. Gains were led
by the Agriculture & Food Ind. and Insurance indices, rising 4.5% and 2.0%,
respectively. Saudi Public Transport rose 8.1%, while Tawuniya was up 7.4%.
Dubai: The DFM Index gained 2.2% to close at 3,501.3. The Financial & Inv.
Services index rose 3.7%, while the Consumer Staples index gained 3.0%.
National Central Cooling rose 5.7%, while Dubai Fin. Market was up 4.5%.
Abu Dhabi: The ADX benchmark index rose 1.3% to close at 4,381.2. The
Real Estate index gained 3.2%, while the Industrial index was up 2.0%.
Finance House surged 14.8%, while Gulf Cement Co. was up 8.4%.
Kuwait: The KSE Index gained marginally to close at 6,426.3. The Technology
index rose 2.2%, while the Insurance index gained 0.8%. Human Soft Holding
Co. and Future Communications Co. Global were up 7.9% each.
Oman: The MSM Index fell 0.4% to close at 6,207.6. Losses were led by the
Services and Industrial indices, falling 0.4% and 0.3%, respectively. Al Batinah
Dev. Inv. fell 5.6%, while Al Hassan Engineering was down 4.9%.
Bahrain: The BHB Index gained 0.2% to close at 1,454.7. The Commercial
Bank index rose 0.3%, while the other indices ended flat. BBK rose 5.6%,
while Al Salam Bank – Bahrain was up 1.7%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Gulf International Services 89.50 3.7 329.8 (7.8)
Qatar National Cement Co. 119.80 3.2 0.9 (0.2)
National Leasing 20.69 2.9 579.6 3.5
Zad Holding Co. 92.00 2.2 11.0 9.5
Qatar Insurance Co. 78.00 2.0 51.1 (1.0)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Commercial Bank of Qatar 57.60 (0.7) 1,022.8 (7.5)
Ezdan Holding Group 15.66 0.4 710.8 5.0
Barwa Real Estate Co. 47.05 (0.1) 665.1 12.3
United Development Co. 21.99 (1.4) 608.7 (6.8)
National Leasing 20.69 2.9 579.6 3.5
Market Indicators 23 Mar 15 22 Mar 15 %Chg.
Value Traded (QR mn) 360.7 214.5 68.2
Exch. Market Cap. (QR mn) 623,514.6 623,946.1 (0.1)
Volume (mn) 7.6 4.9 56.8
Number of Transactions 5,039 3,633 38.7
Companies Traded 39 38 2.6
Market Breadth 20:16 15:16 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 17,776.28 0.0 0.2 (3.0) N/A
All Share Index 3,074.96 0.0 0.2 (2.4) 14.1
Banks 3,116.57 (0.0) 0.4 (2.7) 14.3
Industrials 3,736.37 0.3 (0.6) (7.5) 12.9
Transportation 2,415.02 (1.0) (1.5) 4.2 13.6
Real Estate 2,371.38 0.0 0.9 5.7 13.4
Insurance 4,149.95 1.2 3.2 4.8 19.3
Telecoms 1,312.75 (0.5) (1.1) (11.6) 21.4
Consumer 6,836.09 (0.3) (0.1) (1.0) 24.5
Al Rayan Islamic Index 4,194.68 0.2 (0.3) 2.3 14.5
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Saudi Public Transport Saudi Arabia 32.00 8.1 9,755.6 33.3
Co. for Coop. Ins. Saudi Arabia 84.86 7.4 835.1 69.9
Comm. Bank of Kuwait Kuwait 0.64 6.7 0.0 1.6
BBK Bahrain 0.45 5.6 50.0 0.5
Savola Saudi Arabia 72.92 5.5 1,762.8 (7.3)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Abu Dhabi Nat. Hotels Abu Dhabi 2.57 (9.8) 0.2 (35.8)
Ithmaar Bank Bahrain 0.14 (9.7) 100.0 (12.5)
Invest Bank Abu Dhabi 2.21 (9.1) 136.1 (14.1)
Mannai Corporation Qatar 104.00 (8.8) 23.8 (4.6)
Oman Telecom. Co. Oman 1.66 (3.8) 55.8 (2.1)
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)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Mannai Corporation 104.00 (8.8) 23.8 (4.6)
Ahli Bank 48.00 (2.0) 0.1 (3.3)
Qatar Islamic Bank 97.10 (1.9) 217.3 (5.0)
Qatar Fuel Co. 180.10 (1.6) 44.3 (11.8)
United Development Co. 21.99 (1.4) 608.7 (6.8)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 131.50 (0.9) 60,331.2 (21.7)
Commercial Bank of Qatar 57.60 (0.7) 58,926.0 (7.5)
Barwa Real Estate Co. 47.05 (0.1) 31,245.5 12.3
Gulf International Services 89.50 3.7 29,093.2 (7.8)
QNB Group 188.50 0.3 21,402.9 (11.5)
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* 11,521.29 0.0 (0.0) (7.4) (6.2) 99.06 171,217.1 13.6 1.8 4.1
Dubai 3,501.33 2.2 0.8 (9.4) (7.2) 86.64 86,365.6 7.6 1.4 5.9
Abu Dhabi 4,381.17 1.3 1.0 (6.5) (3.3) 41.69 122,025.6 11.9 1.5 4.2
Saudi Arabia 9,319.69 0.1 1.6 0.1 11.8 2,419.66 536,765.9 18.9 2.3 2.8
Kuwait 6,426.33 0.0 (0.1) (2.7) (1.7) 41.01 97,441.0 17.2 1.1 3.9
Oman 6,207.56 (0.4) (0.2) (5.4) (2.1) 10.40 23,779.4 10.3 1.4 4.5
Bahrain 1,454.74 0.2 (0.3) (1.4) 2.0 1.46 22,737.7 9.5 1.0 4.7
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
11,460
11,480
11,500
11,520
11,540
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 rose marginally to close at 11,521.3. The
Insurance and Industrials indices led the gains. The index rose
on the back of buying support from Qatari shareholders despite
selling pressure from non-Qatari shareholders.
 Gulf International Services and Qatar National Cement Co. were
the top gainers, rising 3.7% and 3.2%, respectively. Among the
top losers, Mannai Corp. fell 8.8%, while Ahli Bank was down
2.0%.
 Volume of shares traded on Monday rose by 56.8% to 7.6mn
from 4.9mn on Sunday. However, as compared to the 30-day
moving average of 12.9mn, volume for the day was 40.8% lower.
Commercial Bank of Qatar and Ezdan Holding Group were the
most active stocks, contributing 13.4% and 9.3% to the total
volume respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Global Economic Data
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
03/23 US Chicago Fed. Chicago Fed Nat Activity Index February -0.1 0.1 -0.1
03/23 US National Assoc. of Realt. Existing Home Sales February 4.88M 4.90M 4.82M
03/23 US National Assoc. of Realt. Existing Home Sales MoM February 1.20% 1.70% -4.90%
03/23 EU European Commission Consumer Confidence March -3.7 -6.0 -6.7
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 DBIS announces agenda for OGM, EGM on April 7 – Dlala
Brokerage & Investment Holding Company (DBIS) announced
that its ordinary & extraordinary general assembly meeting
(OGM & EGM) will be held on April 7, 2015. Shareholders at the
OGM will approve the board of directors’ proposal to distribute
28% bonus shares of the company’s capital. Meanwhile,
shareholders at the EGM will approve the OGM’s resolution to
increase DBIS’ capital by 28% (6,216,000 shares) resulting from
the distribution of bonus shares. Following the distribution, the
company’s total shares shall become 28,416,000 shares. In
case the required quorum is not met, a second meeting will be
held on April 13, 2015. (QSE)
 VFQS’ shares soar after becoming Shari’ah compliant –
Vodafone Qatar’s (VFQS) shares jumped 18.99% MoM in
February 2015, after the company announced it had switched its
financial activity to Islamic transactions. In February 2015,
VFQS announced it had successfully refinanced its conventional
interest-bearing borrowings with a Shari’ah-compliant Wakala
investment agreement in December 2014. The transition was
completed in accordance with the current laws that do not
contradict Shari’ah rules. (Peninsula Qatar)
 QOIS AGM approves 8% cash dividend – Qatar Oman
Investment Company’s (QOIS) general assembly meeting
(AGM) has approved the board’s recommendation to distribute
of 8% cash dividends, representing 80 dirhams per share. AGM
also approved election of new board for a three year period from
2015-2017. (QSE)
 LREDC awards construction contracts worth QR6.2bn –
Lusail City Real Estate Development Company (LREDC) has
announced QR6.2bn worth development works in Lusail City.
The projects will be located within the Central Zone of the Lusail
City spread over 38 square kilometers and will include
development packages for Lusail Plaza, Commercial Street and
a unique crescent-shaped street. The Qatari Diar-Bin Laden
Construction joint venture is the contractor of Lusail Plaza. The
QR4.12bn estimated project will be linked with internal roads
connected to trams and underground rails. A joint venture of
WCT and Al Ahli has bagged the QR1.21bn worth contract for
the Commercial Street project, while the third package for the
Crescent Street includes the development of 3 km-long stretch
at QR918m. (Peninsula Qatar)
 NPPSC awards QR239mn Hamad Port contract to Belgian
firm – The New Port Project Steering Committee (NPPSC) has
awarded a QR239mn contract for the Hamad Port project to Gulf
Earth Moving Company, a Qatar-based subsidiary of the Belgian
group Aertssen. Under the contract terms, Gulf Earth will install
a causeway and coastal protection by placing armor rocks over
a length of 1,350 meters and undertake the necessary soil
improvements before filling the lagoon area with 9mn cubic
meters of processed materials. (Gulf-Times.com)
 QPMC signs deal with Rent-A-Port to develop quarry, jetty
in Oman – Qatar Primary Materials Company (QPMC) and
Belgian port & logistical operator, Rent-A-Port have signed an
agreement to initiate work on a limestone and gabbro quarry
besides a 1-kilometer long jetty in Oman. The jetty will be used
to transport more than 3mn tons of gabbro and primary
materials by barges to Qatar. The agreement commissions
Rent-A-Port to provide consultancy and manage the project and
related operations at Khatmat Malaha, Oman. QPMC has
recently acquired two licenses to set up mining operations in
Khatmat Malaha. (Gulf-Times.com)
 QSE conducts BCP test – The Qatar Stock Exchange (QSE)
has successfully conducted an exercise to test the efficacy of its
Business Continuity Plan (BCP) in adverse conditions. The
exchange, brokers and business partners participated in the
BCP test, which was held at QSE premises as part of QSE's
regular BCP procedures. The test ensured that the QSE trading
session continues uninterrupted even if a major disaster strikes
its primary data center. (QSE)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 63.12% 53.25% 35,598,998.71
Non-Qatari 36.88% 46.75% (35,598,998.71)

3. Page 3 of 6
 QAFCO signs MoU with Belgium University – Qatar Fertilizer
Company (QAFCO) has signed a memorandum of
understanding (MoU) with the University of Liege, Belgium. The
MoU is meant to further the research initiatives on the use of
urea in poultry feed, enhancing the fish biodiversity of Qatar and
crossbreeding of lamb varieties. (Gulf-Times.com)
 QCB: Qatar a hub for Islamic finance – The Qatar Central
Bank Governor, HE Sheikh Abdullah bin Saud Al-Thani said that
Islamic financial institutions enjoy a prominent place in the State
of Qatar, making the country one of the world’s leading hubs for
Islamic finance. He noted that Qatari Islamic banks have 25% of
all the equity held by Qatari banks and play a major role in
financing different developmental projects. However, he said
that Islamic banks face many challenges starting with
maintaining their current growth levels and managing risks. To
combat these challenges, the QCB has dedicated an entire
section to Islamic financial institutions in its new law issued in
2012. (Gulf-Times.com)
 SEC issues new guidelines; approves 91 new private
schools – Qatar Supreme Education Council (SEC) has issued
new set of guidelines for private schools. According to the new
rules, schools will have to announce the number of vacancies
for each academic year in advance and admit the students
within the period of time specified by the SEC. No student shall
be registered over and above a school’s capacity unless an
approval is obtained from the SEC. The school’s capacity is
calculated according to the report produced by the SEC. Also,
expatriate students in the country can now be enrolled directly in
private schools without the need of equivalency certificate.
Similarly, parents can hereafter transfer their children between
private schools without the SEC’s permission, if there are
vacancies at the appropriate level in the receiving school.
Meanwhile, senior SEC official Aisha Al Hashmi revealed that
SEC has given initial approval to 91 new private schools to open
in the next academic year, including six Indian schools.
(Gulftimes.com, Bloomberg)
International
 US changes tack after diplomatic setback on China-led AIIB
– The Obama administration, stung by allies who have thrown
their weight behind a new China-led Asian Infrastructure
Investment Bank (AIIB), has turned its focus to a new front:
exerting its remaining leverage to influence the bank's lending
standards. For months, the US had urged countries to think
twice about joining the AIIB until it could show sufficient
standards of governance as well as environmental and social
safeguards. The AIIB has been seen as a challenge to the
World Bank and Asian Development Bank, institutions
Washington helped found and over which it exerts considerable
influence. However, the AIIB's interim head was able to
announce that at least 35 countries will join the Beijing-based
bank by the March 31 deadline. Despite Washington's
misgivings, US allies Britain, France, Germany and Italy have
said they would join the bank, while Australia, Japan and South
Korea are considering doing so. That reality has led the Obama
administration to reassess its stance on the bank, which will be
capitalized at an initial $50bn to provide project loans to
developing states. (Reuters)
 US homes sales up marginally; supply a constraint – US
home resales rebounded modestly in February as a persistent
shortage of properties on the market spurred the biggest price
jump in a year, a trend that could undermine the spring selling
season. The National Association of Realtors said that existing
home sales rose 1.2% to an annual rate of 4.88mn units. That
left the bulk of January's 4.9% plunge intact. Economists had
forecast home resales rising to a 4.90mn-unit pace in February.
Sluggish home sales are yet another sign that the economic
activity slowed sharply in 1Q2015, which could further diminish
expectations that the Federal Reserve will increase interest
rates in June. The dollar fell against a basket of currencies,
while prices for US Treasury debt were little changed. (Reuters)
 Eurozone consumer confidence jumps in March – According
to the first estimate from the European Commission, Eurozone
consumer confidence jumped much more than expected in
March to -3.7 points from -6.7 points in February. Economists
polled by Reuters had expected an improvement only to -5.95 in
March. (Reuters)
 PwC: Europe's banks set to sell €100bn of unwanted loans
– According to consultants PricewaterhouseCoopers (PwC),
Europe's banks are likely to sell a record €100bn of loans in
2015 that are no longer part of their main businesses, chipping
away at a pile of €1.9tn of unwanted assets. PwC said European
banks sold €91bn in 2014 of so-called 'non-core' loans, and that
number is likely to rise by another 10% in 2015. The consultancy
predicted it would take at least another five years for Europe's
banks to get rid of their problem assets, meaning the clean-up
will have taken more than a decade since the 2007-09 financial
crisis. The €1.9tn of unwanted loans equates to about 4% of the
industry's assets. Around half are non-performing loans and the
other half are performing loans that banks do not consider part
of their core businesses after changing strategy. Banks are
shrinking balance sheets that were bloated before the financial
crisis. Most of the deleveraging comes from loans running off,
but banks are also selling loan portfolios to speed up the
process. (Reuters)
 Japan March flash manufacturing PMI falls to 50.4,
domestic orders weak – Japanese manufacturing activity
expanded in March at a much slower pace than February as
domestic orders contracted in a worrying sign that the
recovering economy may be losing some momentum. The
Markit/JMMA flash Japan Manufacturing Purchasing Managers
Index (PMI) fell to a seasonally adjusted 50.4 in March from a
final 51.6 in February. The index remained above the 50
threshold for the 10th consecutive month but fell to the lowest
since manufacturing activity began expanding in June 2014.
New orders fell to a preliminary 49.5 from 51.0 in February,
contracting for the first time in 10 months. The index for new
export orders also fell to a preliminary 52.2 from a final 53.7 in
February, but continued to expand as the weak yen helped
improve Japanese exporters' price competitiveness. The output
index fell to 52.0 in March to reach the lowest level since
October 2014. (Reuters)
 China flash HSBC PMI contracts to 11-month low in March ;
PBoC lowers benchmark money rate – According to a private
survey, activity in the Chinese factory sector dipped to a 11-
month low in March as new orders shrank, signaling persistent
weakness in the world's second-largest economy that will likely
fuel calls for more policy easing to support growth. The flash
HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2
in March, below the 50-point level on a monthly basis.
Economists polled by Reuters had forecast a reading of 50.6,
slightly weaker than February's final PMI of 50.7. Meanwhile, the
People's Bank of China (PBoC) lowered its guidance rate for the
benchmark seven-day bond repurchase agreement, lowering
the rate to 3.55% down from 3.65% the previous week. This is
the third time that the central bank has lowered the guidance
interest rate for the instrument, considered the best indicator of
short-term liquidity conditions in China, since it announced a cut
in interest rates at the end of February. The PBoC has been
moving to ease tight lending conditions in China, which have

4. Page 4 of 6
remained stubbornly high after the spring festival holiday in late
February, showing that easing measures to reserve requirement
ratios and lending rates are failing to work their way into real
lending rates. (Reuters)
Regional
 Al-Khodari renews financing agreement with SHB, NCB –
Abdullah A. M. Al-Khodari Sons Company (Al-Khodari) has
renewed its Islamic credit facilities agreement with the National
Commercial Bank (NCB) and Saudi Hollandi Bank (SHB) at a
total value of SR1.135bn. The facilities are to provide bonding
commitments, finance capital requirements and working capital
needs. The credit facilities are secured by promissory notes and
assignment of the contract proceeds of the financed projects.
(Tadawul)
 CPC signs MoU to build five industrial cities in Egypt –
Saudi Construction Products Holding Company (CPC) has
signed a MoU with the newly-launched Ayadi Company for
Development & Investment to build five industrial cities for small
and medium enterprises (SMEs) in Egypt at a cost of $500mn.
The agreement is part of the Egyptian government’s support
toward SMEs in the country's private sector. (GulfBase.com)
 APICORP secures $950mn new financing through Shari’ah-
compliant syndication – Arab Petroleum Investments
Corporation (APICORP) has secured new financing through a
Shari’ah-compliant syndication totaling $950mn. The deal
featured two tranches: the first, worth $800mn, matures in five
years and was arranged by SABB, National Commercial Bank,
Samba Financial Group, Riyad Bank and Banque Saudi Fransi.
The second tranche was for $150mn, matures in three years
and was arranged by First Gulf Bank, HSBC Middle East and
National Bank of Abu Dhabi. The transactions were officially
completed in early 2015. APICORP will use the facility to grow
its portfolio of equity investments in regional energy projects.
(GulfBase.com)
 APC completes periodic scheduled maintenance at P&P
plants – Advanced Petrochemical Company (APC) announced
that its Propylene & Polypropylene (P&P) plants had
commenced operations on March 23, 2015, after the successful
completion of all required routine and preventive maintenance
as per schedule. The company said that both plants are
expected to reach their full operational capacity in the next 8 to
10 days. (Tadawul)
 DI forms JV with RED House to develop KSA projects –
Dubai Investments (DI) has announced an equal stake joint
venture (JV) partnership with RED House SAL, a Saudi-
Lebanese joint stock company to manage and operate mega,
mixed-use real estate development projects across Saudi
Arabia. The launch of the new company comes amid burgeoning
growth trends in the Saudi Arabia real estate sector, which is
valued at more than SR1.3tn, and is expected to reach SR1.5tn
over the next few years. The new JV will begin operations with a
project in Riyadh, while other significant projects are in the
pipeline. The project ‘Riyadh Investment Park’, which will be
unveiled soon, will spread across approximately 11mn square
meters and is strategically located at the periphery of the Saudi
capital. A new entity will be entrusted with the development and
management of the Riyadh Investment Park project, as well as
other future projects in the pipeline across Saudi Arabia. Dubai
Investments will own 25% stake in this new entity. (DFM)
 Damac AGM approves 10% bonus shares – Damac
Properties annual general meeting (AGM) has approved the
board of directors’ recommendation to distribute bonus shares
representing 10% of the capital amounting AED5bn. (DFM)
 Arabtec seeks to sell Saudi units, eyes Kingdom expansion
– Arabtec Holding is planning to sell four of its five Saudi
Arabian units. The company after reporting a surprise 4Q2014
loss has approved disposing of Arabtec Saudi Arabia, Arabtec
Construction Machinery, Saudi Austrian Arabian Ready Mix
Company and EFECO Saudi. Arabtec owns stakes of between
45-62% of these firms and has control over all of them. Selling
the quartet would leave the company with a solitary Saudi
subsidiary, Saudi Target Engineering Construction Company,
although it also owns 24% of a Riyadh residential project.
Arabtec’s main aim in 2015 is to expand its activities in the
Kingdom. (Reuters)
 ESBD secured creditors to get 82.7% payout – According to
advisory firm Deloitte, liquidators for ES Bankers (Dubai) Ltd
(ESBD), a part of Espírito Santo Financial Group (ESFG), have
estimated that they will pay out 82.7% of the $93.5mn owed to
depositors. However, unsecured creditors will get none of the
$14mn they are owed. In October 2014, a Dubai judge approved
an application to liquidate ESBD following an earlier freezing of
deposits to protect customers. It was part of global legal action
taken after a $5.35bn bailout for Banco Espirito Santo, formerly
Portugal's largest listed bank, in the wake of the accounting
issues. (Reuters)
 ADNTC OGM approves 16% cash dividend – Abu Dhabi
National Takaful Company’s (ADNTC) ordinary general
assembly meeting (OGM) has approved the distribution of 16%
cash dividend of the paid-up capital, amounting to AED16mn for
2014. (ADX)
 ADA announces 12% dividend – Abu Dhabi Aviation
Company’s (ADA) annual general meeting (AGM) has
announced a 12% dividend for 2014. (GulfBase.com)
 UFC forms committee to consider M&As – United Finance
Company’s (UFC) board of directors has appointed a committee
to consider offers of mergers & acquisitions (M&As) received
from parties. (MSM)
 Al Maha OGM approves 110% cash dividend – Al Maha
Petroleum Products Marketing Company’s annual ordinary
general meeting (OGM) has approved the distribution of 110%
cash dividend of the share capital (i.e. 110 baizas per share) for
2014. (MSM)
 SOMC OGM approves 92 baizas per share cash dividend –
Shell Oman Marketing Company’s (SOMC) annual ordinary
general meeting (OGM) has approved a final cash dividend of
92 baizas per share (92% of the nominal value) for 2014. (MSM)
 ORC AGM approves 100% cash dividend – Oman
Refreshment Company’s (ORC) annual general meeting (AGM)
has approved the cash dividend at the rate of 100% (equivalent
to 100 baizas per share) of the paid-up capital for 2014. (MSM)
 Al Jazeera set to open new rebar facility – Al Jazeera Steel
Products Company (Al Jazeera) has completed building a new
rebar production line, which is already in trial production, and is
expected to start commercial production in 2Q2015. This move
will enhance Al Jazeera’s revenues and diversify its product
offerings, as well as increase the capacity utilization of the
merchant bar mill from its current 35% utilization, offering
significant growth potential. (GulfBase.com)
 Bank Sohar signs MoU with Zain Property Development –
Bank Sohar has signed a memorandum of understanding (MoU)
with Zain Property Development to provide preferential housing
loans to Omani Citizens interested in investing in properties
located in phases five and six of the Dar Al Zain project. The
bank is offering both conventional housing finance as well as

5. Page 5 of 6
Islamic housing finance through its Islamic window, Sohar
Islamic. (AMEInfo.com)
 Saudi's ACWA, Mitsui win $630mn Oman power plant deal –
Saudi Arabia's ACWA Power and Japan's Mitsui & Co had won
a contract from Oman's government to build and operate a
$630mn, 445 megawatt (MW) natural gas-fired power plant at
the city of Raysut. The contract was won along with Dhofar
International Development & Investment Holding Co, which will
take 10% of the project, while the Saudi and Japanese
companies will each take 45%. The partners will sell electricity
to Oman under a 15-year agreement with the new plant to be
operational in January 2018. As part of the deal, the consortium
will also acquire Dhofar Generating Co, which owns and
operates an existing 273 MW gas-fired power plant. (Reuters)

6. Contacts
Saugata Sarkar Ahmed Al-Khoudary Sahbi Kasraoui
Head of Research Head of Sales Trading – Institutional Manager – HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6548 Tel: (+974) 4476 6544
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Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
Feb-11 Feb-12 Feb-13 Feb-14 Feb-15
QSE Index S&P Pan Arab S&P GCC
0.1% 0.0% 0.0% 0.2%
(0.4%)
1.3%
2.2%
(0.8%)
0.0%
0.8%
1.6%
2.4%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,189.51 0.6 0.6 0.4 MSCI World Index 1,778.00 0.2 0.2 4.0
Silver/Ounce 16.99 1.4 1.4 8.2 DJ Industrial 18,116.04 (0.1) (0.1) 1.6
Crude Oil (Brent)/Barrel (FM
Future)
55.92 1.1 1.1 (2.5) S&P 500 2,104.42 (0.2) (0.2) 2.2
Crude Oil (WTI)/Barrel (FM
Future)
47.45 3.8 3.8 (10.9) NASDAQ 100 5,010.97 (0.3) (0.3) 5.8
Natural Gas (Henry
Hub)/MMBtu
2.69 (4.8) (4.8) (10.3) STOXX 600 401.24 0.1 0.1 5.8
LPG Propane (Arab Gulf)/Ton 51.00 1.7 1.7 4.1 DAX 11,895.84 (0.4) (0.4) 9.1
LPG Butane (Arab Gulf)/Ton 57.38 1.1 1.1 (8.6) FTSE 100 7,037.67 0.0 0.0 2.8
Euro 1.09 1.2 1.2 (9.5) CAC 40 5,054.52 0.1 0.1 6.9
Yen 119.73 (0.3) (0.3) (0.0) Nikkei 19,754.36 1.1 1.1 12.9
GBP 1.50 0.0 0.0 (4.0) MSCI EM 975.38 0.6 0.6 2.0
CHF 1.04 0.9 0.9 2.9 SHANGHAI SE Composite 3,687.73 1.7 1.7 13.8
AUD 0.79 1.4 1.4 (3.6) HANG SENG 24,494.51 0.5 0.5 3.7
USD Index 97.03 (0.9) (0.9) 7.5 BSE SENSEX 28,192.02 (0.1) (0.1) 4.2
RUB 58.75 (0.9) (0.9) (3.3) Bovespa 51,908.46 1.8 1.8 (13.0)
BRL 0.32 3.1 3.1 (15.4) RTS 859.14 (0.3) (0.3) 8.7
165.6
135.8
124.6