The QSE Index declined 0.5% to close at 10,604.0.

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index declined 0.5% to close at 10,604.0. Losses were led by Insurance and
Banks & Financial Services indices, falling 2.0% and 0.6%, respectively. Top losers were
Ahli Bank and Qatar Islamic Bank, falling 5.0% and 2.8%, respectively. Among the top
gainers, Vodafone Qatar rose 4.6%, while Dlala Brokerage & Investments Holding Co. was
up 3.7%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.5% to close at 6,302.2. Losses were led by the Media
& Publishing and Hotel & Tourism indices, falling 3.8% and 3.1%, respectively. Malath
Coop. Ins. fell 9.9%, while Med. & Gulf Ins. was down 8.9%.
Dubai: The DFM Index declined 1.0% to close at 3,484.3. The Telecommunication index
fell 3.6%, while the Financial & Investment Services index declined 1.3%. Al Salam
Group Holding fell 5.2%, while Gulf Navigation Holding was down 3.7%.
Abu Dhabi: The ADX benchmark index fell 0.4% to close at 4,575.3. The Energy index
declined 3.0%, while the Real Estate index fell 1.2%. Abu Dhabi National Takaful Co.
declined 10.0%, while Abu Dhabi Nat. Energy Co. was down 7.7%.
Kuwait: The KSE Index declined 0.2% to close at 5,451.0. The Consumer Services index
fell 0.9%, while the Real Estate index declined 0.6%. Kuwait Cable Vision fell 11.4%,
while The Securities House was down 9.1%.
Oman: The MSM Index fell 0.2% to close at 5,843.8. Losses were led by the Industrial
and Financial indices, falling 0.2% each. Al Jazeera Services fell 3.8%, while
Construction Materials Ind. was down 3.1%.
Bahrain: The BHB Index fell 0.4% to close at 1,155.6. The Commercial Bank index
declined 0.7%, while the Services index fell 0.1%. Nass Corporation declined 3.9%,
while Al-Ahli United Bank was down 1.6%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Vodafone Qatar 11.61 4.6 1,575.1 (8.6)
Dlala Brokerage & Inv. Holding Co. 25.80 3.7 554.1 39.5
Qatar Islamic Insurance Co. 62.20 2.3 3.0 (13.6)
Al Khaleej Takaful Group 24.99 2.1 55.8 (18.1)
Commercial Bank 38.45 1.5 113.4 (16.2)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Vodafone Qatar 11.61 4.6 1,575.1 (8.6)
Masraf Al Rayan 36.50 1.4 842.8 (2.9)
Dlala Brokerage & Inv. Holding Co. 25.80 3.7 554.1 39.5
Mazaya Qatar Real Estate Dev. 14.21 0.2 515.5 5.1
Ezdan Holding Group 19.66 (0.5) 488.4 23.6
Market Indicators 31 July 16 28 July 16 %Chg.
Value Traded (QR mn) 195.8 223.4 (12.4)
Exch. Market Cap. (QR mn) 568,702.7 571,388.0 (0.5)
Volume (mn) 6.7 4.8 39.2
Number of Transactions 3,540 3,854 (8.1)
Companies Traded 42 41 2.4
Market Breadth 18:24 23:10 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 17,156.50 (0.5) (0.5) 5.8 14.5
All Share Index 2,932.95 (0.5) (0.5) 5.6 13.9
Banks 2,855.57 (0.6) (0.6) 1.8 12.1
Industrials 3,207.39 (0.5) (0.5) 0.6 14.6
Transportation 2,568.60 (0.2) (0.2) 5.7 11.9
Real Estate 2,700.67 (0.1) (0.1) 15.8 23.7
Insurance 4,292.75 (2.0) (2.0) 6.4 11.3
Telecoms 1,187.13 0.8 0.8 20.3 18.1
Consumer 6,601.28 0.4 0.4 10.0 13.6
Al Rayan Islamic Index 4,083.84 0.0 0.0 5.9 17.6
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Nat. Mobile Telecomm. Kuwait 1.18 7.3 7.0 7.3
Vodafone Qatar Qatar 11.61 4.6 1,575.1 (8.6)
National Medical Care Co. Saudi Arabia 66.34 4.4 215.5 19.5
BBK Bahrain 0.34 3.6 1,745.5 (21.6)
Arriyadh Develop. Co. Saudi Arabia 22.56 3.2 3,296.5 23.1
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Medi. & Gulf Insurance Saudi Arabia 20.97 (8.9) 2,709.0 (24.6)
Abu Dhabi Nat. Energy Abu Dhabi 0.48 (7.7) 1,760.4 2.1
Mobile Telecomm. Co. Saudi Arabia 6.75 (5.7) 5,863.7 (19.4)
United Real Estate Co. Kuwait 0.10 (5.7) 89.0 5.3
Savola Saudi Arabia 34.14 (5.2) 577.3 (32.0)
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%
Ahli Bank 40.30 (5.0) 0.0 (8.1)
Qatar Islamic Bank 106.00 (2.8) 174.5 (0.7)
Qatar Insurance Co. 79.10 (2.7) 51.2 13.8
Islamic Holding Group 66.10 (1.2) 19.0 (16.0)
Industries Qatar 105.60 (1.1) 33.2 (5.0)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Masraf Al Rayan 36.50 1.4 30,572.4 (2.9)
Qatar Islamic Bank 106.00 (2.8) 18,824.9 (0.7)
Vodafone Qatar 11.61 4.6 17,795.0 (8.6)
Dlala Brokerage & Inv. Hold. Co. 25.80 3.7 14,210.9 39.5
Qatar Gas Transport Co. 24.43 (0.3) 11,574.9 4.6
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* 10,603.96 (0.5) (0.5) 7.3 1.7 53.77 156,222.6 14.5 1.6 3.9
Dubai 3,484.32 (1.0) (1.0) 5.2 10.6 55.46 92,184.6 12.1 1.3 4.3
Abu Dhabi 4,575.34 (0.4) (0.4) 1.7 6.2 18.37 122,639.1 12.3 1.5 5.3
Saudi Arabia 6,302.17 (0.5) (0.5) (3.0) (8.8) 908.04 389,173.6 14.9 1.5 4.0
Kuwait 5,450.98 (0.2) (0.2) 1.6 (2.9) 10.83 80,103.7 18.9 1.0 4.3
Oman 5,843.78 (0.2) (0.2) 1.2 8.1 4.64 23,196.2 8.4 1.2 5.0
Bahrain 1,155.62 (0.4) (0.4) 3.3 (5.0) 2.18 17,895.2 9.6 0.4 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)
10,600
10,620
10,640
10,660
10,680
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 declined 0.5% to close at 10,604.0. The Insurance and Banks
& Financial Services indices led the losses. The index fell on the back of
selling pressure from Qatari shareholders despite buying support from non-
Qatari and GCC shareholders.
 Ahli Bank and Qatar Islamic Bank were the top losers, falling 5.0% and
2.8%, respectively. Among the top gainers, Vodafone Qatar rose 4.6%, while
Dlala Brokerage & Investments Holding Co. was up 3.7%.
 Volume of shares traded on Sunday rose by 39.2% to 6.7mn from 4.8mn on
Thursday. Further, as compared to the 30-day moving average of 4.7mn,
volume for the day was 42.2% higher. Vodafone Qatar and Masraf Al Rayan
were the most active stocks, contributing 23.6% and 12.6% to the total
volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases and Earnings Calendar
Earnings Releases
Company Market Currency
Revenue (mn)
2Q2016
% Change
YoY
Operating Profit
(mn) 2Q2016
% Change
YoY
Net Profit
(mn) 2Q2016
% Change
YoY
Middle East Paper Co. Saudi Arabia SR – – -0.3 NA 85.6 337.6%
Al-Baha Investment & Development Co. Saudi Arabia SR – – 0.0 9.3% 0.0 9.3%
Emaar The Economic City Saudi Arabia SR – – -23.0 NA 79.0 58.0%
Arabian Aramco Total Services Co. Saudi Arabia SR – – 867.2 -8.3% 604.9 -19.2%
Dur Hospitality Co. Saudi Arabia SR – – 29.5 -13.7% 29.2 -20.4%
Ash-Sharqiyah Development Co. Saudi Arabia SR – – -0.8 NA -0.4 NA
Saudi Arabia Refineries Co. Saudi Arabia SR – – 0.0 -99.8% -0.2 NA
Jabal Omar Development Co. Saudi Arabia SR – – 48.4 -33.0% 9.5 9.5%
National Medical Care Co. Saudi Arabia SR – – 59.8 54.4% 57.9 36.9%
Arabian Pipes Co. Saudi Arabia SR – – 15.2 NA 11.2 NA
Sadara Basic Services Company Saudi Arabia SR – – -1,281.2 NA -1,513.1 NA
Mohammad Al Mojil Group Saudi Arabia SR – – -32.0 NA -42.0 NA
Saudi Fisheries Co. Saudi Arabia SR – – -8.4 NA -9.2 NA
Middle East Specialized Cables Co. Saudi Arabia SR – – 9.0 NA 76.9 NA
Arriyadh Development Co. Saudi Arabia SR – – 135.3 87.9% 132.8 87.6%
Tihama Advertising Saudi Arabia SR – – -11.5 NA -10.2 NA
Emaar Properties* Dubai AED 7,257.0 11.3% – – 2,475.0 12.2%
Al Safwa Islamic Financial Services Dubai AED – – – – -1.5 NA
Emirates Integrated Telecomm. Co. Dubai AED 3,070.0 – – – 969.7 -0.9%
Sharjah Cement & Industrial Dev. Dhabi AED 168.8 4.2% – – 17.8 -16.8%
Sharjah Cement & Industrial Dev. Dhabi AED 168.8 4.2% – – 17.8 -16.8%
Union Cement Co.* Abu Dhabi AED 257.0 -18.3% 31.4 -33.3% 37.2 -26.5%
Zain Kuwait Kuwait KD – – – – 45.0 –
Zain Bahrain Bahrain BHD – – – – 1.8 -11.1%
Source: Company data, DFM, ADX, MSM (*6M2016 results)
Earnings Calendar
Tickers Company Name Date of reporting 2Q2016 results No. of days remaining Status
AKHI Al Khaleej Takaful Insurance 2-Aug-16 1 Due
MRDS Mazaya Qatar 2-Aug-16 1 Due
GISS Gulf International Services 2-Aug-16 1 Due
QNNS Qatar Navigation (Milaha) 3-Aug-16 2 Due
IQCD Industries Qatar 3-Aug-16 2 Due
QFLS Qatar Fuel Company 4-Aug-16 3 Due
DOHI Doha Insurance 8-Aug-16 7 Due
MPHC Mesaieed Petrochemical Holding Company 9-Aug-16 8 Due
MERS Al Meera Consumer Goods Company 9-Aug-16 8 Due
QISI Qatar Islamic Insurance 10-Aug-16 9 Due
MCCS Mannai Corp. 10-Aug-16 9 Due
DBIS Dlala Brokerage & Investment Holding Company 10-Aug-16 9 Due
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 54.48% 56.48% (3,925,795.09)
Qatari Institutions 11.88% 17.79% (11,578,612.66)
Qatari 66.36% 74.27% (15,504,407.75)
GCC Individuals 3.84% 1.32% 4,931,604.50
GCC Institutions 3.87% 2.19% 3,291,675.75
GCC 7.71% 3.51% 8,223,280.25
Non-Qatari Individuals 11.43% 13.99% (5,007,765.39)
Non-Qatari Institutions 14.51% 8.24% 12,288,892.89
Non-Qatari 25.94% 22.23% 7,281,127.50

3. Page 3 of 6
MCGS Medicare Group 10-Aug-16 9 Due
SIIS Salam International Investment 11-Aug-16 10 Due
WDAM Widam Food Company 11-Aug-16 10 Due
QGMD Qatar German Company for Medical Devices 14-Aug-16 13 Due
ZHCD Zad Holding Company 14-Aug-16 13 Due
Source: QSE
News
Qatar
 QCFS’ net profit rises 16.0% QoQ in 2Q2016 – Qatar Cinema and
Film Distribution Company (QCFS) reported a net profit of
QR3.97mn in 2Q2016, indicating growth of 16.0% QoQ and 74.2%
YoY. (QSE, QNBFS Research)
 QGRI’s bottom-line drops 40.5% QoQ in 2Q2016 – Qatar General
Insurance & Reinsurance Company (QGRI) reported 2Q2016 net
profit of QR32.0mn, a decline of 40.5% QoQ and 28.6% YoY. (QSE,
QNBFS Research)
 Qatar ranked among top-10 Asian economies on UN Online Service
Index – With over 1,000 public services made available online,
Qatar is ranked among the top-10 Asian economies, on the ‘Online
Service Index’ of the biannual E-Government Development Index
(EGDI) released by the United Nation’s Department of Economic
and Social Affairs (UN DESA). Qatar and Saudi Arabia occupy the
third position among the GCC states, scoring 0.67391. (Peninsula
Qatar)
 Sri Lankan envoy eyes LNG imports from Qatar – Sri Lankan
Ambassador to Qatar WM Karunadasa said that he is exploring the
potential benefits of his country importing liquefied natural gas
(LNG) from Qatar. He said Sri Lanka’s current LNG needs are met
through imports from Iran and Iraq, among other suppliers, but
not Qatar. Karunadasa said, “I plan to propose this during Sri
Lankan President Maithripala Sirisena’s state visit to Qatar in the
latter part of the year. My aim is to push for signing of more
agreements, particularly in the energy sector.” (Gulf-Times.com)
 QA inks new interline partnership with Malindo Air – Qatar Airways
(QA) has teamed up with Malaysia-based Malindo Air to offer
passengers seamless travel and greater connectivity when
travelling between Southeast Asia and over 100 destinations in
QA’s network. The partnership allows QA passengers to tap into
Malindo Air’s growing short-haul regional network that serves 40
cities in 12 countries, including 13 airports in Malaysia. (Peninsula
Qatar)
 QIA to buy stake in Russian airport – The Qatar Investment
Authority (QIA) will acquire a total stake of 24.99% in the
operating consortium of St. Petersburg airport in Russia. Fraport
AG Frankfurt Airport Services Worldwide (Fraport AG) and its
consortium partners reached an agreement to sell a portion of
their shares in Thalita Trading Ltd to QIA; accordingly, Fraport AG
will reduce its equity share in Thalita Trading Ltd from 35.5% to
25%. Thalita Trading Ltd is the parent company of Northern
Capital Gateway, which holds the concession to operate the
Pulkovo Airport in St. Petersburg, Russia. Due to the sale by
consortium partner Copelouzos Group, QIA will have its stake in
the airport operating consortium, while Fraport AG will remain the
lead operator following this transaction. (Peninsula Qatar)
 ORDS launches Cisco-powered advanced conferencing solution –
Ooredoo (ORDS) has launched Ooredoo Conferencing, an
advanced solution that provides a complete set of communication
and collaboration tools for SME and Enterprise businesses.
Ooredoo Conferencing, which is powered by Cisco WebEx, is the
first conferencing solution in Qatar to provide an all-inclusive set
of collaboration and communication tools that can be accessed
anywhere through any device. It provides a range of collaboration
services in one package, including world-class video conferencing,
integrated desktop sharing, document sharing, recording and
playback facilities. The solutions can be provided over the cloud or
through infrastructure located on the company’s premises,
delivering total security and control over the conferences.
(Peninsula Qatar)
 Qatar will stick to spending plans despite volatile energy prices –
The Qatari government will continue to spend a ‘considerable sum’
against its originally planned $220bn (over QR800bn) worth
projects envisaged in 2010, in the run up to the 2022 FIFA World
Cup, despite the volatile energy prices and declining revenues.
Since winning the hosting rights for the World Cup in December
2010, the country has embarked upon a vast infrastructure
investment program, with total costs estimated at around $220bn.
According to ‘The Report: Qatar 2016’, the 12th annual edition of
the comprehensive report produced by Oxford Business Group in
conjunction with the Ministry of Economy and Commerce, the
government views this expenditure as necessary not only to
prepare the nation for one of the world’s premier sporting events,
but also as a medium-term means of boosting growth across the
non-energy economy. As noted by the International Monetary
Fund (IMF), this effort has been broadly successful – in 2012-15,
Qatar’s GDP growth was driven primarily by double-digit
expansion in non-hydrocarbons activities, with key contributors
including construction, services and manufacturing. This shift from
energy to non-energy growth is in line with Qatar National Vision
2030. (Peninsula Qatar)
 Qatar, Oman ties reviewed – Qatar’s Minister of Municipality and
Environment, HE Mohamed bin Abdullah Al Rumaihi met Omani
Minister of Environment and Climate Affairs, Mohammed bin
Salim Al Toobi in Muscat and discussed ways to enhance
cooperation in the field of environment. (Peninsula Qatar)
International
 ICAEW: UK business morale plunged after EU vote – The Institute of
Chartered Accountants in England and Wales (ICAEW) said that
the British business confidence plunged in the immediate
aftermath of the June 23 vote to leave the European Union,
regained a little ground later but was still down sharply compared
with 1Q2016. The Institute said that its business confidence index
fell to -27.7 for the period June 24 to July 20, compared with -0.7
from April 27 through to the June 23 referendum. ICAEW said that
the index fell "drastically" after the June 23 vote but then crept up.
A Lloyds Bank survey of 200 companies showed confidence
recovered partially after an initial dive following the vote.
(Reuters)
 Japan July factory activity shrinks for fifth month but at slower pace,
export orders slump – Japanese manufacturing activity shrank in
July at a slower pace than in June but new export orders
contracted the fastest in more than 3-1/2 years, in an indication
that recent yen gains are hurting exporters. The IHS Markit/Nikkei
Japan Final Manufacturing Purchasing Managers Index (PMI) rose
to 49.3 in July, versus a preliminary 49.0 and a final reading of 48.1
in June. But the headline index remained below the 50 threshold
that separates contraction from expansion for the fifth month. The
sub-index for new export orders was 44.5. That compares with a

4. Page 4 of 6
preliminary reading of 44.0, but showed overseas demand fell at
the fastest pace since December 2012. (Reuters)
 China factory activity unexpectedly dips in July – According to an
official survey, activity in China's manufacturing sector
unexpectedly shrank in July, with small and medium-sized firms
leading the fall and reinforcing fears that the economy may once
again be losing momentum. The official Purchasing Managers'
Index (PMI) eased to 49.9 in July, compared with the June reading
of 50.0 and below the 50-point mark that separates growth from
contraction on a monthly basis. After expanding for three
consecutive months from March to May, growth in China's factory
sector stalled in June, though economic growth slightly beat
expectations in 2Q2016 after near-record credit expansion. The
PMI revealed that the factory output fell to 52.1 in July from 52.5
in June, and total new orders hovered just inside expansionary
territory at 50.4, slightly down from June's 50.5. (Reuters)
Regional
 JLL: House prices in Saudi Arabia continued to decline in 2Q2016 –
House prices in Saudi Arabia’s biggest cities continued to decline
in 2Q2016, as falling oil revenue continued to put pressure on the
Kingdom’s economy. JLL’s data showed that villa and apartment
prices in Riyadh were 5% and 1% lower, respectively, during
2Q2016 than they were during 2Q2015. In Jeddah, villa prices
were down by around 4% YoY, while apartment prices fell by 5%
YoY. (GulfBase.com)
 UBS: Saudi Arabia’s fiscal consolidation should secure mid-term
economic future – Experts at UBS, the world’s largest global wealth
manager, have concluded that current fiscal measures deployed by
the Kingdom of Saudi Arabia should help ensure a sustainable
economic future for the country in the medium term. The Kingdom
has implemented several measures to protect fiscal balances from
the oil price drop. Government spending was cut by 15% in real
terms in 2015, while a further cut of 16% is envisaged for 2016.
Going forward, several measures are likely to be implemented to
raise the share of non-oil revenues, such as the introduction of
VAT in the GCC region. The Kingdom also announced the ambitious
development plan ‘Vision 2030’ in April. The plan aims to reduce
the Kingdom’s dependence on oil; to boost the private sector’s role
in the economy; to lower national unemployment; and to raise
non-oil revenues almost four-fold to about 20% of GDP by 2020.
(GulfBase.com)
 Saudi Aramco opens massive platform for marine work – Saudi
Aramco has launched the largest platform for its marine
operations, which has been manufactured at the King Abdul Aziz
Port in Dammam. The platform is fixed in the undersea coral reef
and will receive the production from eight marine oil platforms,
which will be transferred through pipeline to Workshop No. 2 to
separate gas at the Al-Murjan oilfield. The platform distributes
electricity, which reaches the eight platforms through electric
cables that are fixed under the sea. (GulfBase.com)
 STC signs MoU with Mobily – Saudi Telecom Company (STC) signed
a Memorandum of Understanding (MoU) with Etihad Etisalat
Company (Mobily) to jointly explore options for extracting value
from their respective telecommunications tower portfolios with
the objective of reducing their capital and operating expenditures
on towers in all regions of the Kingdom. (Tadawul)
 Advanced Petrochemical EGM approves increase in share capital –
Advanced Petrochemical Company’s Extraordinary General
Assembly Meeting (EGM) has approved to increase the company’s
share capital from SR1,639,950,000 to SR1,967,940,000, an
increase of 20%, through the distribution of one bonus share for
every five shares owned by the company’s existing shareholders.
(Tadawul)
 PetroRabigh appoints new CEO – Saudi Arabia’s PetroRabigh has
appointed Nasser al-Mahasher as its new President and CEO. Al-
Mahasher was previously the Chief Executive of S-Oil Corporation,
a South Korea-headquartered petroleum and refinery company.
(Reuters)
 KSA Oil demand growth at 6-year low as economy sputters – Oil
consumption in Saudi Arabia, the world’s biggest crude exporter, is
expanding at the slowest pace in at least six years as low energy
prices hurt economic growth. The Kingdom’s demand for oil
increased by an average of 24,000 barrels a day in the first five
months of 2016, the slowest growth rate for that period since at
least 2010, the first year for which data are available from the Joint
Organizations Data Initiative in Riyadh. The International Energy
Agency is now looking for a drop in demand in Saudi Arabia for all
of 2016, after forecasting an increase earlier in 2016. (Bloomberg)
 KSA to offer $4bn to banks – Saudi Arabia’s central bank offered
lenders short-term loans in late June to help ease liquidity
constraints. The Saudi Arabian Monetary Agency (SAMA), as the
central bank is known, offered around $4bn. The loans were
offered at a discounted rate. SAMA offered individual banks as
much as SR1.5bn based on their balance sheets. (Bloomberg)
 CEO: KSA construction market has dropped 80% – Al Khodari CEO
said that the construction market in the Kingdom has shrunk by as
much as 80%. He also revealed the contractor has avoided bidding
on some government projects because of payment delay concerns.
(Bloomberg)
 NTP approves SR26bn tourism initiatives – The National
Transformation Program (NTP) approved 13 initiatives to support
the agenda of the Saudi Commission for Tourism and National
Heritage at a cost of more than SR26bn. Initiatives include various
programs that represent and support the national strategy for the
development of tourism and heritage and extensions of previous
efforts and programs of the commission. (Bloomberg)
 MEED: UAE economic growth is expected to accelerate in 2017 –
According to a new report published by Middle East business
intelligence service MEED, the UAE economic growth is expected
to accelerate in 2017 by over 4% a year until 2020 on high oil
prices and Expo2020-related projects. Project activity in the
country is forecast to recover in 2017 after a difficult 2016 on the
back of a strong recovery in economic growth. (GulfBase.com)
 UAE's du BoD proposes dividend for 1H2016 – Emirates Integrated
Telecommunications Company (du) BoD has proposed paying a
cash dividend of AED0.13 per share for 1H2016. (Reuters)
 Emaar’s Alabbar raises $1bn for e-commerce – Emaar Properties
Chairman Mohamed Alabbar raises $1bn from investors to start
digital, e-commerce ventures in the UAE. (Bloomberg)
 CBI reports AED68.7mn net profit in 1H2016 – Commercial Bank
International’s (CBI) net profit surged 168% YoY to AED68.7mn in
1H2016, as compared to AED25.6mn in 1H2015. Net operating
income decreased 20% YoY to AED178mn in 1H2016 from
AED221mn in 1H2015. Net loans & advances stood at
AED12.84bn, while customer deposits stood at AED11.82bn at the
end of June 30, 2016. (ADX)
 Dubai billionaire businessman Alabbar behind Aramex stake buys –
Billionaire Dubai businessman Mohamed Alabbar led two investor
groups that recently bought a combined 16.45% stake in Dubai-
based courier Aramex. Alabbar was keen to harness Aramex's
footprint in logistics and transport to build an e-commerce
platform across the Arab world within areas such as banking and
retail. (Reuters)
 Al Futtaim to build Abu Dhabi's $1bn Reem Mall – Reem Mall has
named Al Futtaim Carillion as the preferred tenderer for
construction of the $1bn project. Reem Mall, Abu Dhabi’s

5. Page 5 of 6
upcoming fashion, entertainment and dining destination, said that
it will enter into detailed contract negotiations with Al Futtaim
Carillion exclusively, with the objective of finalizing an agreement
to promptly execute the remaining works. (GulfTimes.com)
 Bahrain telecom sector revenues reach BHD450mn in 2015 – The
Telecommunications Regulatory Authority’s (TRA) latest market
indicators report said that Bahrain’s telecom sector revenues
reached BHD450mn in 2015, a growth of 4.7% as compared to
BHD430mn in 2014. Furthermore, the sector revenues registered
a compound annual growth rate (CAGR) of 4.6% over the last six
years (2010-2015). Telecommunications operators invested
BHD49mn in 2015. To meet the growing demand for innovative
services, mobile subscription and data usage, there has been
significant investment of BHD473mn over the last six years.
(GulfBase.com)
 Batelco signs deal with Albilad for new project – Batelco, Bahrain’s
leading digital solutions provider, has signed an agreement with
Albilad Real Estate Investment Company for the provision of the
latest communications services at its development project, Water
Garden City. It is a private project rising off the North Shore of
Bahrain and sits adjacent to the Seef district. Water Garden City is
a mixed-use community, consisting of residential, commercial
offices, retail, leisure, restaurants, hotels, marina and open public
spaces. The project has everything needed to live, work and relax
in a thriving, cosmopolitan community. (GulfBase.com)

6. Contacts
Saugata Sarkar Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
QNB Financial Services Co. WLL One Person Company
Contact Center: (+974) 4476 6666
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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
Jun-12 Jun-13 Jun-14 Jun-15 Jun-16
QSEIndex S&PPan Arab S&PGCC
(0.5%)
(0.5%)
(0.2%)
(0.4%)
(0.2%)
(0.4%)
(1.0%)
(1.2%)
(1.0%)
(0.8%)
(0.6%)
(0.4%)
(0.2%)
0.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,351.00 1.1 2.2 27.3 MSCI World Index 1,721.79 0.8 0.9 3.5
Silver/Ounce 20.34 0.6 3.6 46.8 DJ Industrial 18,432.24 (0.1) (0.7) 5.8
Crude Oil (Brent)/Barrel (FM Future) 42.46 (0.6) (7.1) 13.9 S&P 500 2,173.60 0.2 (0.1) 6.3
Crude Oil (WTI)/Barrel (FM Future) 41.60 1.1 (5.9) 12.3 NASDAQ 100 5,162.13 0.1 1.2 3.1
Natural Gas (Henry Hub)/MMBtu 2.94 6.5 6.0 27.3 STOXX 600 341.89 1.4 2.2 (4.0)
LPG Propane (Arab Gulf)/Ton 43.00 1.8 (9.7) 12.0 DAX 10,337.50 1.3 3.6 (1.6)
LPG Butane (Arab Gulf)/Ton 49.38 (2.2) (9.4) (10.4) FTSE 100 6,724.43 0.7 0.8 (3.3)
Euro 1.12 0.9 1.8 2.9 CAC 40 4,439.81 1.2 3.1 (1.7)
Yen 102.06 (3.0) (3.8) (15.1) Nikkei 16,569.27 3.0 3.4 2.6
GBP 1.32 0.5 0.9 (10.2) MSCI EM 873.47 (0.2) 0.5 10.0
CHF 1.03 1.2 1.8 3.4 SHANGHAI SE Composite 2,979.34 (0.2) (0.6) (17.7)
AUD 0.76 1.2 1.8 4.3 HANG SENG 21,891.37 (1.3) (0.4) (0.2)
USD Index 95.53 (1.2) (2.0) (3.1) BSE SENSEX 28,051.86 (0.3) 1.5 6.5
RUB 65.94 (1.4) 1.8 (9.1) Bovespa 57,308.21 2.3 2.1 61.2
BRL 0.31 1.2 0.2 21.8 RTS 927.57 0.5 (0.9) 22.5
126.0
96.5
96.3