The QSE Index in Qatar rose marginally to close at 12,144.0, led by gains in the Transportation and Insurance indices. Top gainers were Qatar General Insurance & Reinsurance Co. and Gulf Warehousing Co., while top losers were Doha Insurance Co. and Barwa Real Estate Co. Volume traded fell by 14.6% compared to the previous day. In company news, DHBK plans to launch an ETF on the QSE and QSE suspended trading of UDCD shares on March 9th for its AGM. Internationally, the Eurozone said Greece's reform outline was helpful but needs scrutiny, while the BoJ deputy governor said it must ease policy further if falling
QNBFS Daily Market Report August 15, 2021QNB Group
The QE Index rose marginally to close at 10,920.4. Gains were led by the Banks & Financial Services and Transportation indices, gaining 0.7% and 0.1%, respectively.
The QE Index rose 0.4% to close at 10,708.4. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.6% and 0.5%, respectively.
The QE Index declined 2.0% to close at 9,700.8. Losses were led by the Industrials and Banks & Financial Services indices, falling 2.7% and 2.2%, respectively.
The QE Index rose 0.8% to close at 10,584.2. Gains were led by the Insurance and Banks & Financial Services indices, gaining 2.9% and 1.1%, respectively.
QNBFS Daily Market Report August 15, 2021QNB Group
The QE Index rose marginally to close at 10,920.4. Gains were led by the Banks & Financial Services and Transportation indices, gaining 0.7% and 0.1%, respectively.
The QE Index rose 0.4% to close at 10,708.4. Gains were led by the Banks & Financial Services and Industrials indices, gaining 0.6% and 0.5%, respectively.
The QE Index declined 2.0% to close at 9,700.8. Losses were led by the Industrials and Banks & Financial Services indices, falling 2.7% and 2.2%, respectively.
The QE Index rose 0.8% to close at 10,584.2. Gains were led by the Insurance and Banks & Financial Services indices, gaining 2.9% and 1.1%, respectively.
8 - Història de la Informàtica - Naixement de la era de la computacióFerran Poveda
Transparències de la vuitena sessió del curs de crèdits de lliure elecció d'Història de la Informàtica, Retorn al Futur.
Classe dedicada al periode de la expansió d'Internet, de l'assentament dels computadors personals i la crisi de les punt-com. 1990-2000.
QNBFS Daily Market Report December 24, 2023QNB Group
The QE Index rose 0.8% to close at 10,285.3. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.4% and 1.2%, respectively.
QNBFS Daily Market Report October 04, 2023QNB Group
The QE Index rose 0.2% to close at 10,273.3. Gains were led by the Transportation and Consumer Goods & Services indices, gaining 1.7% and 0.1%, respectively.
QNBFS Daily Technical Trader Qatar - October 04, 2023 التحليل الفني اليومي لب...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 28, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 24, 2023QNB Group
The QE Index rose 0.3% to close at 10,323.0. Gains were led by the Transportation and Industrials indices, gaining 0.8% each. Top gainers were Qatar Navigation and Al Khaleej Takaful Insurance Co., rising 3.3% and 2.0%, respectively.
QNBFS Daily Technical Trader Qatar - September 24, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 19, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 17, 2023QNB Group
The QE Index declined 0.5% to close at 10,319.3. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.4% and 1.1%, respectively.
QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to
sustain its breakout above the
double-bottom formation’s
neckline and continued with
its decline into the
formation’s territory.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
USDA Loans in California: A Comprehensive Overview.pptx
8 March Daily market report
1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose marginally to close at 12,144.0. Gains were led by the
Transportation and Insurance indices, rising 1.3% and 0.8%, respectively. Top
gainers were Qatar General Insurance & Reinsurance Co. and Gulf
Warehousing Co., rising 5.0% and 2.5%, respectively. Among the top losers,
Doha Insurance Co. fell 3.3%, while Barwa Real Estate Co. was down 2.4%.
GCC Commentary
Saudi Arabia: The TASI Index rose 0.7% to close at 9,579.3. Gains were led
by the Telecom. & IT and Hotel & Tourism indices, rising 3.9% and 2.1%,
respectively. Etihad Etisalat rose 9.8%, while Petro Rabigh was up 9.7%.
Dubai: The DFM Index declined 0.2% to close at 3,740.5. The Financial &
Investment Services and Insurance indices fell 0.6% each. Ekttitab Holding
Co. fell 7.6%, while Marka Co. was down 3.2%.
Abu Dhabi: The ADX benchmark index rose 0.1% to close at 4,593.7. The
Energy index gained 2.0%, while the Investment & Financial Serv. rose 0.7%.
Arkan Building Materials Co. gained 7.0%, while Dana Gas was up 2.3%.
Kuwait: The KSE Index fell 0.4% to close at 6,513.9. The Consumer Serv. and
Telecommunication indices declined 1.0% each. Future Kid Entertainment and
Real Estate fell 9.1%, while Mashaer Holding was down 7.6%.
Oman: The MSM Index fell marginally to close at 6,525.7. The Financial index
declined 0.1%, while the other indices ended in green. Global Financial
Investment fell 3.6%, while Al Hassan Engineering was down 3.1%.
Bahrain: The BHB Index declined marginally to close at 1,466.7. The
Insurance index fell 0.2%, while the Commercial Banks index was down 0.1%.
Ithmaar Bank fell 2.9%, while Zain Bahrain was down 1.1%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Reins. Co. 70.90 5.0 6.7 20.2
Gulf Warehousing Co. 58.40 2.5 8.8 3.5
Qatar Navigation 107.30 1.8 136.6 7.8
Gulf International Services 95.50 1.6 142.7 (1.6)
Industries Qatar 148.00 1.1 89.2 (11.9)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Barwa Real Estate Co. 47.55 (2.4) 1,228.9 13.5
United Development Co. 24.46 0.6 815.9 3.7
Vodafone Qatar 17.64 (0.3) 450.4 7.2
Ezdan Holding Group 15.57 (0.5) 334.9 4.4
Commercial Bank of Qatar 69.40 (0.9) 309.3 1.3
Market Indicators 08 Mar 15 05 Mar 15 %Chg.
Value Traded (QR mn) 251.1 336.4 (25.4)
Exch. Market Cap. (QR mn) 660,738.2 660,514.4 0.0
Volume (mn) 5.3 6.3 (14.6)
Number of Transactions 3,887 3,918 (0.8)
Companies Traded 41 43 (4.7)
Market Breadth 20:19 18:21 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,571.66 0.0 0.0 1.4 N/A
All Share Index 3,207.87 0.0 0.0 1.8 15.2
Banks 3,230.73 (0.2) (0.2) 0.8 14.7
Industrials 4,040.26 0.5 0.5 0.0 13.8
Transportation 2,497.82 1.3 1.3 7.7 14.1
Real Estate 2,390.77 (0.9) (0.9) 6.5 19.4
Insurance 4,120.26 0.8 0.8 4.1 17.9
Telecoms 1,418.62 0.5 0.5 (4.5) 18.8
Consumer 7,159.78 (0.2) (0.2) 3.7 28.2
Al Rayan Islamic Index 4,361.48 (0.3) (0.3) 6.3 17.5
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Etihad Etisalat Co. Saudi Arabia 42.50 9.8 28,719.1 (3.2)
PetroRabigh Saudi Arabia 25.20 9.7 11,957.0 38.8
Arriyadh Develop. Co. Saudi Arabia 24.57 5.2 7,454.5 20.4
Med. & Gulf Ins. Saudi Arabia 70.03 5.1 1,776.5 39.8
Qatar Gen. Ins. & Re. Qatar 70.90 5.0 6.7 20.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Gulf Cable & Elect. Ind. Kuwait 0.62 (6.1) 19.0 (10.1)
Nat. Bank of Kuwait Kuwait 0.89 (4.3) 900.4 (2.2)
Nat. Real Estate Co. Kuwait 0.14 (4.2) 269.6 4.5
Qassim Cement Saudi Arabia 96.80 (3.9) 196.5 8.6
Co for Coop. Ins. Saudi Arabia 87.20 (3.0) 1,136.6 74.6
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%
Doha Insurance Co. 26.05 (3.3) 1.0 (10.2)
Barwa Real Estate Co. 47.55 (2.4) 1,228.9 13.5
National Leasing 20.70 (2.0) 82.3 3.5
Medicare Group 151.00 (1.3) 17.3 29.1
Mannai Corp. 113.70 (0.9) 85.5 4.3
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Barwa Real Estate Co. 47.55 (2.4) 58,884.5 13.5
Commercial Bank of Qatar 69.40 (0.9) 21,519.9 1.3
United Development Co. 24.46 0.6 19,978.4 3.7
Qatar Navigation 107.30 1.8 14,631.0 7.8
Gulf International Services 95.50 1.6 13,535.4 (1.6)
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* 12,144.01 0.0 0.0 (2.4) (1.2) 68.96 181,438.7 15.0 1.9 3.8
Dubai 3,740.50 (0.2) (0.2) (3.2) (0.9) 100.12 92,512.0 7.5 1.3 5.0
Abu Dhabi 4,593.71 0.1 0.1 (2.0) 1.4 43.25 128,128.3 12.4 1.6 3.8
Saudi Arabia 9,579.28 0.7 0.7 2.9 15.0 2,729.23 554,893.0 19.3 2.3 2.7
Kuwait 6,513.90 (0.4) (0.4) (1.3) (0.3) 48.90 99,798.6 17.4 1.1 3.8
Oman 6,525.73 (0.0) (0.0) (0.5) 2.9 7.74 24,806.3 10.7 1.4 4.3
Bahrain 1,466.67 (0.0) (0.0) (0.6) 2.8 2.45 22,878.8 9.8 0.9 4.5
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)
12,080
12,100
12,120
12,140
12,160
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 12,144.0. The
Transportation and Insurance indices led the gains. The index
rose on the back of buying support from non-Qatari shareholders
despite selling pressure from Qatari shareholders.
Qatar General Insurance & Reinsurance Co. and Gulf
Warehousing Co. were the top gainers, rising 5.0% and 2.5%,
respectively. Among the top losers, Doha Insurance Co. fell
3.3%, while Barwa Real Estate Co. was down 2.4%.
Volume of shares traded on Sunday fell by 14.6% to 5.3mn from
6.3mn on Thursday. Further, as compared to the 30-day moving
average of 14.5mn, volume for the day was 63.1% lower. Barwa
Real Estate Co. and United Development Co. were the most
active stocks, contributing 23.0% and 15.3% to the total volume
respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings
Earnings Releases
Company Market Currency
Revenue
(mn) 4Q2014
% Change
YoY
Operating Profit
(mn) 4Q2014
% Change
YoY
Net Profit (mn)
4Q2014
% Change
YoY
Makkah Construction &
Development Co. (MCDC)*
Saudi Arabia SR – – 91.0 21.3% 86.0 19.4%
Alliance Insurance* Dubai AED 12.5 8.3% – – 48.1 8.8%
Sharjah Insurance Co.
(SICO)*
Abu Dhabi AED 73.9 -14.2% -20.1 NA 5.7 6.4%
Source: Company data, DFM, ADX, MSM (*FY2014 results)
News
Qatar
DHBK plans to launch ETF on QSE – Doha Bank (DHBK) is
planning to launch an exchange traded fund (ETF) on the Qatar
Stock Exchange (QSE) with Amwal acting as the fund manager
and the Group Securities as the liquidity provider. An agreement
has been signed to appoint Amwal as the fund manager, as well
as to get licensing for the index benchmark from QSE. DHBK’s
CEO R. Seetharaman said that the Qatar Index ETF, which is
pending regulatory approvals, will track the QSE Index. Once
approved by the Qatar Financial Markets Authority (QFMA), the
ETF would list on QSE and provide investors with exposure to
the index benchmark with a single trade. He added that the
Group Securities will provide bid and ask prices, as well as
coordinate with the fund manager to manage the supply of ETF
units on QSE. (QSE)
QSE suspends UDCD shares on March 9 – The Qatar Stock
Exchange (QSE) has announced a suspension of trading in
United Development Company’s (UDCD) shares on March 9,
2015 due to the company’s AGM being held on that day. (QSE)
Kahramaa signs deal with QEWS to establish water plant –
The Qatar General Electricity & Water Corporation (Kahramaa)
has signed an agreement with Qatar Electricity & Water
Company (QEWS) to establish a plant for the production and
desalination of water using reverse osmosis (RO) technology.
The plant, the first of its kind in Qatar, will have a capacity to
produce 36mn gallons of desalinated water every day. It will cost
$500mn and start operations in 3Q2016. Kahramaa and QEWS
have signed an offer letter to enable the latter to start work and
an agreement for buying water for the next 25 years will be
signed in three months. Under the agreement, QEWS will
establish the plant and Mitsubishi Company will be responsible
for preparing the design, importing equipment and installing the
plant. (Peninsula Qatar)
QFCA: Qatar’s insurance market expands to $2bn – The
Qatar Financial Centre Authority’s (QFCA) Deputy CEO, Yousuf
Mohammed Al Jaida said that the size of Qatar’s insurance
market is expanding, though slowly, and has reached an
estimated $2bn. This represents 1% of the country’s GDP and
4% of the total value of the insurance market in the MENA
region. He said the Qatar Central Bank (QCB) is expected to
come out with fresh administrative regulations for insurance
companies soon. Al Jaida said confidence prevails in the MENA
insurance market since insurers expect regional premiums to
outgrow GDP and rates to finally stabilize. While the region’s
average income per capita is on par with the global level,
insurance penetration remains extraordinarily low with premiums
accounting for a mere 1.3% of GDP, a fifth of the global
average. (Peninsula Qatar)
HIA wins top award – Hamad International Airport (HIA) has
won the ‘Strategic Project of the Year’ Award at the 2015 Global
Projects of the Year Awards ceremony. The awards ceremony
took place during the eighth Global Infrastructure Leadership
Forum organized by CG/LA Infrastructure in New York.
(Peninsula Qatar)
International
Eurozone says Greek reform outline helpful – According to
the head of the Eurogroup, Jeroen Dijsselbloem, the reform
outline sent by Greece to Eurozone ministers to unblock loans is
helpful, however, it needs to be scrutinized by representatives of
the country's creditors. It also described seven reforms it wants
to launch to achieve goals agreed to by the previous
government. Once steps to reach these goals are taken, Greece
would become eligible for more credit from the Eurozone and
the International Monetary Fund, and its banks could again
finance themselves at European Central Bank open market
operations. Meanwhile, Greek Finance Minister Yanis
Varoufakis said Eurozone membership is a given and does not
form part of negotiations with the country's lenders. Varoufakis
also said that Greece could call a referendum or have early
elections should its Eurozone partners reject its debt and growth
plans. (Reuters)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 72.49% 73.96% (3,707,521.53)
Non-Qatari 27.52% 26.04% 3,707,521.53
3. Page 3 of 6
Nakaso: BoJ must act if oil falls affect inflation expectations
– The Bank of Japan (BoJ) deputy governor, Hiroshi Nakaso
said the central bank must ease monetary policy further if oil
price falls hamper its efforts to ramp up inflation expectations,
stressing the central bank's readiness to top up stimulus to hit its
ambitious inflation target. However, Hiroshi Nakaso also said oil
price falls alone will not immediately lead to further action
because the BoJ is focusing on whether inflation is accelerating
as a trend backed by a solid economic recovery. Nakaso said
the decline in oil prices since last summer has drawn in roughly
$58bn worth of income to Japan's economy by improving its
terms of trade. The BoJ has stood pat since October when it
expanded its massive stimulus program to prevent slumping oil
prices, and a subsequent slowdown in inflation, from delaying a
sustained exit from 15 years of deflation. (Reuters)
Exports jump in China, but slide in imports signals
economic weakness – Chinese exports picked up in the first
two months of 2015, propelled by February's exceptionally
strong performance that was inflated by the timing of Lunar New
Year, while a slide in imports pointed to persistent weakness in
the economy. Data released by the General Administration of
Customs showed that China posted a record trade surplus of
$60.6bn in February. Exports rose 15% YoY during the January-
February period, quickening from a 6.1% annual rise in the
whole of 2014 as demand from major markets improved.
February exports jumped 48.3% YoY, the strongest rise since
May 2010 and comfortably beat market expectations of 14.2%,
however, customs office cautioned about reading too much into
the figure given seasonal distortions. It said local exporters
usually make concentrated shipments ahead of the long Lunar
New Year holiday. January exports fell 3.3% YoY. Analysts tend
to look at the combined trade data for the two months to help
smooth out distortions caused by the holiday. (Reuters)
Brazil's Rousseff asks nation to back austerity plan –
President Dilma Rousseff appealed to Brazilians to back fiscal
austerity policies, while saying that the belt-tightening will last as
long as needed and results will only start showing at the end of
2015. With the economy stalled and ties with her coalition allies
in disarray due to a corruption probe at state-run oil company
Petrobras, Rousseff needs support for unpopular steps to
reduce a gaping deficit and save Brazil's investment grade
rating on its debt from a downgrade by ratings agencies.
Rousseff said belt-tightening started with cutbacks in
government spending and moved on to reducing tax breaks and
subsidies for credit. Rousseff's plans to cut unemployment and
pension benefits, however, have met with resistance from within
her own Workers' Party and a decree to raise payroll taxes paid
by businesses was thrown out by her main ally in the Senate.
(Reuters)
Regional
Moody’s: GCC reinsurance rates continue to decrease –
According to a study conducted by Moody’s Investors Service,
the GCC (Gulf Cooperation Council) reinsurance market is
characterized by overcapacity, with many international and local
players competing for reinsurance business. This coupled with
limited natural catastrophe risks, has resulted in increased levels
of coverage and a continued softening of reinsurance rates. The
additional pressure of softening rates on underwriting margins is
credit negative for reinsurers since it comes at a time when the
investment returns of companies are likely to remain at historic
lows. Moody’s expects these trends to continue over the short-
to-medium term, while the local reinsurance market looks set to
expand over the long-term. As per the study, the majority of
international reinsurers in the region primarily focus on
conventional reinsurance. They underwrite larger commercial
risks, often as the lead reinsurer, and in many cases provide the
reinsurance expertise and capital to enable local insurers to
effectively act as fronting agents. (GulfBase.com)
RSHS seeks shareholders’ nod to distribute SR60mn
dividend – Red Sea Housing Services Company (RSHS) has
invited its shareholders to consider and approve the board of
directors’ recommendation to distribute a cash dividend of
SR60mn for 2014, or SR1.00 per share, which represents 10%
of the share nominal value, for shareholders registered on the
company’s records as of the AGM date. The shareholders will
also consider and approve various concluded agreements.
(Tadawul)
AL Othaim seeks shareholders’ nod on cash dividend,
leasing contracts – Abdullah AL Othaim Markets Company (AL
Othaim) has invited its shareholders to approve the board of
directors’ recommendation to distribute cash dividends of
SR78.75mn for 2014, at the rate of SR1.75 per share, which
represents 17.5% of the company’s share capital. Moreover,
shareholders will also discuss and approve the leasing contracts
with different contract terms which took place during 2014
between the company and Al Othaim Holding Company with a
total amount of SR745,050 and between the company and
Abdullah Al Othaim Real Estate Investment & Development
Company and its subsidiaries with a total amount of
SR48.42mn. The shareholders will also discuss and approve the
participation with 25% share capital to establish Al Woustah
Company for Food Services with a share capital of SR100mn to
operate and manage ALBAIK restaurants in the Al Qassim
region. (Tadawul)
Al-Khodari signs contracts with Health Ministry, Taibah
University – Abdullah A. M. Al-Khodari Sons Company (Al-
Khodari) has signed a contract with the Ministry of Higher
Education (Taibah University) to carry out the second phase of
the construction of Support Deanship building within 15 months
from the date of site handing over. The project is valued at
SR34.9mn. Al-Khodari also signed a contract with the Ministry of
Health for the construction of a 200-bed maternity and pediatrics
hospital in Rass. The SR313.2mn project will completed within
36 months from the date of site handing over. (Tadawul)
NCB: Value of awarded contracts in Saudi Arabia reaches
SR220.8bn in 2014 – According to a report released by the
National Commercial Bank (NCB), the value of awarded
contracts in Saudi Arabia recaptured the loss in momentum that
was witnessed during 3Q2014 to reach SR61.9bn. The surge in
4Q2014 resulted in the total value of awarded contracts to settle
at SR220.8bn in 2014. Although the value of contract awards fell
by 25% as compared to 2013, 2014 still registered a strong
performance. As per the report, the main contributing sectors
were oil & gas (SR48bn), power (SR33bn) and transportation
(SR20bn). The sectors that were earmarked for government
expenditure as part of the 2014 budget were also well
represented such as healthcare, urban development and roads
with SR15bn each. During 4Q2014, the main contributors were
urban development (SR12bn), oil & gas (SR11bn) and
healthcare (SR10bn). Both physical and social infrastructure-
related sectors continued to grow as compared to 2013;
however, it was the reduction in the size of mega projects that
caused the decline in 2014. (GulfBase.com)
Snapchat management holds talks with Prince Al Waleed –
Snapchat’s senior management held talks with Saudi Arabia's
Prince Al Waleed Bin Talal on potential cooperation. The
agenda of discussions related to future potential business
cooperation between Kingdom Holding Company (KHC) and
Snapchat in the technology field as the company looks to raise
4. Page 4 of 6
as much as $500mn in its latest funding round. KHC is 95%
owned by Prince Alwaleed. (Reuters)
Ajman tourism revenue reaches AED300m in 2014 – Ajman
Tourism Development Department’s (ATDD) Research &
Development Executive, Dalal Al Marzouqi said that Ajman
tourism revenues reached nearly AED300mn in 2014, as
compared to AED220mn in 2013, noting that the average room
rates in Ajman were AED275 for one night. She said the number
of hotel and hotel apartments’ guests in 2014 had increased to
850,000 as compared to around 600,000 in 2013. The average
hotel occupancy rates had reached 65% in 2014.
(GulfBase.com)
Drydocks seeks second debt restructuring – According to
sources, Drydocks World, a subsidiary of Dubai World, will ask
creditors to amend the terms of its $2.3bn restructuring deal
originally signed in 2012. The move comes as Dubai World is
close to finalizing a revision of its own $14.6bn debt pile, which
stems from loans renegotiated in the wake of the Emirate's
financial crisis at the turn of the decade. (Reuters)
SCIDC BoD recommends 10% cash dividend – Sharjah
Cement & Industrial Development Company’s (SCIDC) board of
directors has recommended a cash dividend of 10% of the
company’s capital for the year ended December 31, 2014.
(ADX)
SIC recommends 10% cash dividend – Sharjah Insurance
Company’s (SIC) board of directors has recommended a cash
dividend of 10%. (ADX)
FPB plans overseas bank acquisitions – Falcon Private
Bank’s (FPB) Global Head of Private Banking, Erich Pfister said
that FPB is open to buying rivals as it expects a wave of
consolidation in the industry due to more onerous regulations.
He said that the bank would be open to deals covering its core
target markets of the Gulf, Eastern Europe, Africa and South
East Asia, and will target banks managing between $208mn to
$2.08bn in assets. (GulfBase.com)
Al Mazaya OGM approves 6% cash dividend – Al Mazaya
Holding Company announced that its ordinary general meeting
(OGM) has approved the board of directors’ recommendation to
distribute 6% cash dividend of the paid -up capital i.e. 6 Kuwaiti
fils per share. Shareholders registered as of the date of OGM on
March, 8 2015 are eligible for the dividends. (DFM)
Ooredoo Kuwait partners with Ericsson – Ooredoo Kuwait, a
member of Ooredoo Group, announced its partnership with
Ericsson to deploy the first LTE Advanced small cell solution. By
integrating small cell solution as part of the macro mobile
network, Ooredoo Kuwait can effectively provide increased
network capacity and improved coverage. (Zawya)
Galfar Engineering BoD proposes 10% stock dividend –
Galfar Engineering & Contracting’s board of directors has
proposed a distribution of 10% stock dividend i.e. 1 share for
every 10 shares held as of December 31, 2014. This proposal is
subject to the approval of the company’s shareholders at the
next annual general meeting, scheduled for March 25, 2015.
(MSM)
NBO seeks shareholders’ nod for cash, stock dividends –
National Bank of Oman (NBO) has invited its shareholders to
consider and approve the board of directors’ proposal to
distribute cash dividends at the rate of 17% of the paid-up
capital (17 baizas per share) and 10% bonus shares of the paid-
up capital (1 share per every 10 share). NBO’s share capital will
increase from 1,218,827,500 shares to 1,340,710,250 shares
following the bonus issue. (MSM)
GIC BoD recommends 22% cash dividend – Gulf International
Chemicals’ (GIC) board of directors has proposed a distribution
of 22% cash dividend (22 baizas per share) amounting to
OMR462,000 for the year 2014. This proposal is subject to the
approval of the company’s shareholders at the annual general
meeting, scheduled for March 29, 2015. (MSM)
CBO advises Taageer Finance on cash dividend – The
Central Bank of Oman (CBO) has advised Taageer Finance to
change the cash dividend from 15% to 10%, while approving the
company’s financial statements for the year ended December
31, 2014. (MSM)
Bank Sohar’s board revises proposed dividends – Bank
Sohar’s board of directors, on the advice of the Central Bank of
Oman (CBO) has revised the proposed cash dividend to 4%, i.e.
4 baizas per share and the proposed stock dividend to 6%, i.e. 6
shares per every 100 shares held, instead of the 6% cash
dividend and 4% stock dividend proposed earlier for the year
2014. The proposed dividends are subject to approval of the
bank’s shareholders. (MSM)
Omantel seeks shareholders’ nod for 75% cash dividends –
Oman Telecommunications Company (Omantel) has invited its
shareholders to consider and approve the board of directors’
proposal to distribute cash dividends of 75% of the paid-up
capital i.e. 75 baizas per share. The shareholders will also study
the proposal to authorize BoD to distribute interim dividends up
to a maximum 40% from the paid-up capital during the month of
August 2015, and to authorize the board to decide the date of
right. Omantel will also seek the shareholder’s approval for a
debut issuance of Sukuk. (MSM)
Muscat Finance seeks shareholder’s approval for cash,
stock dividend – Muscat Finance announced that the annual
general body meeting (AGM) of its shareholders will be held on
March 23, 2015. The AGM will consider and approve proposed
cash dividend of 8% from the capital (OMR0.008 per share) and
a stock dividend of 8 % of the capital (8 shares for each 100
Shares). This will result in an increase in the paid-up share
capital of the company from 232,980,066 shares to 251,618,471
shares. (MSM)
Oman’s insurance sector grows 10% – Ahmed bin Ali Al
Ma'amari, Director General supervising the Insurance sector at
the Capital Market Authority (CMA), said that Oman’s insurance
sector has achieved growth in terms of total value of premiums
in 2014 as compared to 2013. Total insurance premiums in 2014
grew by 10% or OMR36.37mn to touch OMR400.4mn, from
OMR364mn in 2013. Health insurance branch recorded the
highest growth rate with a 31% increase, followed by transport
insurance with 21%. He pointed out that the total value of net
direct premiums rose by 13% YoY in 2014, as health insurance
and other insurance achieved the highest growth rates, as
compared to the other types of insurance, which rose by 69%
and 17%, respectively in 2014 as compared to 2013.
(GulfBase.com)
OPWP floats tender to manage solar monitoring sites –
Oman Power & Water Company (OPWP) has floated a tender to
provide operations and maintenance services at two of its solar
monitoring sites. These two sites are close to Adam city and
Manah city and OPWP is currently responsible for ensuring
consistent and accurate data collection from these two sites.
The last date for submitting the tender is April 9, 2015.
(GulfBase.com)
BKIC approves 35% cash dividend – Bahrain Kuwait
Insurance Company’s (BKIC) general assembly has approved a
5. Page 5 of 6
cash dividend of 35% of the paid-up capital amounting to
BHD2.5mn. (Bahrain Bourse)
GFH wins legal case against Presccott Energy – Gulf
Finance House (GFH) said that the Bahrain Chamber for
Disputes Resolution has issued a ruling in its favor in the legal
case filed against Presccott Energy Limited and its affiliates.
Accordingly, the company will be paid $3mn plus 3% interest for
the period starting June 4, 2013. GFH had filed the case in 2013
against Prescott and its affiliates with regard to GFH’s
investment in Prescott Oil Fund. (Bahrain Bourse)
Ithmaar Bank reports $8.8mn net loss for 2014, not to
distribute dividend – Ithmaar Bank reported a net loss of
$8.85mn in 2014, lower than the net loss of $79.33mn reported
in 2013. The net loss attributable to equity holders of the bank
for 2014 amounted to $15mn, as compared to a net loss of
$80.4mn reported in 2013. Loss per share amounted to 0.52
cents in 2014 as against the loss per share of 2.76 cents in
2013. The bank’s total assets stood at $7.86bn at the end of
December 2014 as compared to $7.4bn a year ago. The
customer current accounts stood at $1.37bn at the end of
December 31, 2014. Meanwhile, the bank’s board of directors
decided not to distribute dividends to its shareholders for the
financial year ended December 31, 2014. (Bahrain Bourse)
6. Contacts
Saugata Sarkar Abdullah Amin, CFA Badar Husain
Head of Research Senior Research Analyst Head of Trading
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6547
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa badar.husain@qnbfs.com.qa
Sahbi Kasraoui Ahmed Al-Khoudary QNB Financial Services SPC
Manager – HNWI Head of Sales Trading – Institutional Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548 PO Box 24025
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ 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
0.7%
0.0%
(0.4%)
(0.0%) (0.0%)
0.1%
(0.2%)
(0.6%)
(0.4%)
(0.2%)
0.0%
0.2%
0.4%
0.6%
0.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,167.19 (2.6) (3.8) (1.5) MSCI World Index 1,741.99 (1.2) (1.7) 1.9
Silver/Ounce 15.90 (1.9) (4.2) 1.3 DJ Industrial 17,856.78 (1.5) (1.5) 0.2
Crude Oil (Brent)/Barrel (FM
Future)
59.73 (1.2) (4.6) 4.2 S&P 500 2,071.26 (1.4) (1.6) 0.6
Crude Oil (WTI)/Barrel (FM
Future)
49.61 (2.3) (0.3) (6.9) NASDAQ 100 4,927.37 (1.1) (0.7) 4.0
Natural Gas (Henry
Hub)/MMBtu
2.88 (11.9) 4.6 (3.8) STOXX 600 394.18 (1.4) (2.5) 3.2
LPG Propane (Arab Gulf)/Ton 58.13 (2.3) (6.6) 18.6 DAX 11,550.97 (1.1) (1.8) 5.2
LPG Butane (Arab Gulf)/Ton 69.75 (3.1) (6.7) 6.5 FTSE 100 6,911.80 (1.8) (3.0) 1.7
Euro 1.08 (1.7) (3.1) (10.4) CAC 40 4,964.35 (1.4) (2.8) 4.2
Yen 120.83 0.6 1.0 0.9 Nikkei 18,971.00 0.5 (0.1) 7.4
GBP 1.50 (1.3) (2.6) (3.5) MSCI EM 971.23 (0.3) (1.9) 1.6
CHF 1.01 (1.2) (3.3) 0.9 SHANGHAI SE Composite 3,241.19 (0.1) (1.9) (0.6)
AUD 0.77 (0.8) (1.2) (5.6) HANG SENG 24,164.00 (0.1) (2.7) 2.3
USD Index 97.62 1.3 2.4 8.1 BSE SENSEX 29,448.95 0.0 (0.4) 8.5
RUB 60.43 (0.8) (2.1) (0.5) Bovespa 49,981.19 (2.3) (9.3) (13.2)
BRL 0.33 (1.9) (6.7) (13.4) RTS 903.45 (1.0) 0.8 14.3
174.5
141.9
129.5