1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.1% to close at 12,460.2. Gains were led by the Telecoms
and Industrial indices, gaining 1.1% and 0.3%, respectively. Top gainers were
Ooredoo and Mannai Corp., rising 1.9% each. Among the top losers, Qatar
Cinema & Film Distri. Co. fell 3.5%, while Islamic Holding Group declined 1.8%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.1% to close at 9,657.4. Gains were led
by the Industrial Inv. and Cement indices, rising 1.2% and 0.6%, respectively.
Umm Al-Qura Cement and Al Alamiya for Coop. Ins. gained 9.9% each.
Dubai: The DFM index declined 2.3% to close at 4,489.9. The Real Estate &
Const. index fell 4.2%, while the Banking index was down 1.8%. Arabtec
declined 9.9%, while Gulfa Mineral Water & Processing Ind. was down 9.7%.
Abu Dhabi: The ADX benchmark index rose marginally to close at 4,803.8.
The consumer index gained 2.2%, while the Industrial index was up 0.9%.
Arkan Building Materials Co. rose 5.8%, while Agthia Group gained 3.5%
Kuwait: The KSE index gained 1.2% to close at 7,024.3. The Financial
Services and Real Estate indices rose 2.2% and 1.6%, respectively. Al-Madina
For Finance & Invest. Co. and Metal & Recycling Co. gained 7.6% each.
Oman: The MSM index rose marginally to close at 6,916.0. Gains were led by
the Financial index rising 0.1%, while the Industrial index rose marginally. Gulf
International Chemicals gained 1.2%, while Bank Sohar was up 0.8%.
Bahrain: The BHB index fell 0.3% to close at 1,430.1. The Commercial
Banking index declined 0.8%, while other indices remained unchanged or
ended in green. Ahli United Bank was down 2.5%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Ooredoo 132.50 1.9 43.6 (3.4)
Mannai Corp. 119.20 1.9 2.9 32.6
Ahli Bank 50.90 1.8 6.3 20.3
Doha Bank 59.30 1.4 98.6 1.9
Dlala Brokerage & Inv. Holding Co. 52.70 1.3 229.0 138.5
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 50.50 (1.4) 1,266.0 61.3
Ezdan Holding Group 21.50 (1.0) 1,192.6 26.5
Aamal Co. 16.80 0.6 798.0 12.0
Barwa Real Estate Co. 39.00 0.8 723.4 30.9
Mesaieed Petrochem. Holding Co. 32.20 (0.8) 548.7 222.0
Market Indicators 22 Jun 14 19 Jun 14 %Chg.
Value Traded (QR mn) 351.2 636.4 (44.8)
Exch. Market Cap. (QR mn) 682,430.7 681,578.4 0.1
Volume (mn) 8.3 13.9 (40.0)
Number of Transactions 6,288 10,236 (38.6)
Companies Traded 43 43 0.0
Market Breadth 19:22 14:24 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,584.20 0.1 0.1 25.3 N/A
All Share Index 3,171.21 0.1 0.1 22.6 15.2
Banks 3,019.18 (0.0) (0.0) 23.5 15.0
Industrials 4,262.00 0.3 0.3 21.8 16.6
Transportation 2,208.27 (0.1) (0.1) 18.8 14.2
Real Estate 2,593.14 0.2 0.2 32.8 13.0
Insurance 3,420.67 0.0 0.0 46.4 8.9
Telecoms 1,623.37 1.1 1.1 11.7 22.4
Consumer 6,748.00 (0.4) (0.4) 13.4 26.5
Al Rayan Islamic Index 4,149.85 (0.5) (0.5) 36.7 18.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Ithmaar Bank Bahrain 0.15 7.4 180.0 (37.0)
Saudi Arabian Mining Saudi Arabia 35.85 3.8 11,412.7 10.7
Ahli United Bank Kuwait 0.65 3.2 5.1 (0.7)
Etihad Atheeb Telecom Saudi Arabia 13.72 2.9 7,195.0 (4.7)
IFA Hotels & Resorts Kuwait 0.22 2.8 0.1 (21.4)
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Arabtec Holding Dubai 3.84 (9.9) 90,677.7 87.3
Saudi Fisheries Saudi Arabia 39.15 (4.6) 1,944.3 26.7
Al Mouwasat Med. Saudi Arabia 103.08 (4.2) 123.8 12.0
Emaar Economic City Saudi Arabia 15.12 (3.9) 4,105.4 13.7
Aseer Saudi Arabia 28.35 (3.6) 1,553.0 21.9
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar Cinema & Film Distri. Co. 55.60 (3.5) 3.6 38.7
Islamic Holding Group 70.50 (1.8) 36.6 53.3
Qatar Islamic Bank 90.00 (1.7) 107.2 30.4
Widam Food Co. 58.00 (1.7) 12.0 12.2
Qatar Oman Investment Co. 14.75 (1.7) 105.0 17.8
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Masraf Al Rayan 50.50 (1.4) 64,083.7 61.3
Commercial Bank of Qatar 65.60 0.2 30,796.5 11.2
Barwa Real Estate Co. 39.00 0.8 28,162.5 30.9
Gulf International Services 95.00 1.0 27,258.6 94.7
Ezdan Holding Group 21.50 (1.0) 25,887.2 26.5
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* 12,460.15 0.1 0.1 (9.0) 20.0 96.47 187,395.5 15.5 2.1 4.0
Dubai 4,489.90 (2.3) (2.3) (11.7) 33.2 215.35 88,569.4 18.0 1.8 2.3
Abu Dhabi 4,803.80 0.0 0.0 (8.6) 12.0 53.76 134,079.4 14.2 1.8 3.5
Saudi Arabia 9,657.41 0.1 0.1 (1.7) 13.1 1,808.88 524,548.8 19.2 2.4 2.9
Kuwait 7,024.26 1.2 1.2 (3.7) (7.0) 63.73 110,405.1 16.6 1.1 4.0
Oman 6,915.95 0.0 0.0 0.9 1.2 10.73 25,107.4 12.0 1.7 4.0
Bahrain 1,430.12 (0.3) (0.3) (2.0) 14.5 4.73 53,471.4 11.2 1.0 4.8
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
12,420
12,440
12,460
12,480
12,500
12,520
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 5
Qatar Market Commentary
 The QE index rose 0.1% to close at 12,460.2. The Telecoms and
Industrial indices led the gains. The index rose on the back of
buying support from non-Qatari shareholders despite selling
pressure from Qatari shareholders.
 Ooredoo and Mannai Corp. were the top gainers, rising 1.9%
each. Among the top losers, Qatar Cinema & Film Distri. Co. fell
3.5%, while Islamic Holding Group declined 1.8%.
 Volume of shares traded on Sunday fell by 40.0% to 8.3mn from
13.9mn on Thursday. Further, as compared to the 30-day
moving average of 24.8mn, volume for the day was 66.3% lower.
Masraf Al Rayan and Ezdan Holding Group were the most active
stocks, contributing 15.2% and 14.3% to the total volume
respectively.
Source: Qatar Exchange (* as a % of traded value)
Ratings
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Solidarity General
Takaful
AM Best Bahrain FSR/ICR – B++/bbb – Stable –
Source: News reports (* LT – Long Term, ST – Short Term, FSR- Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, IDR – Issuer Default Rating, SR – Support Rating, LC –
Local Currency, ICR – Insurer Credit Rating)
News
Qatar
 QNBK launches 4 new products to support SMEs – QNB
Group (QNBK) has launched four new product offerings to
support the SME sector in Qatar. This initiative follows Qatar’s
largest bank successfully launching its ‘Business Banking’
platform studded with detailed business-oriented solutions that
will enable business owners to expand or start a small to
medium-sized business, by granting them easy, convenient and
quick access to finance. The first product is a specialized
‘Turnover Facility’, which supports companies with an annual
bank account turnover of between QR2mn and QR20mn.
Companies that deal with any bank in Qatar are eligible to apply.
The second facility is aimed at addressing the needs of
professional services companies in the fields of engineering,
engineering consultancies, medical & pharmaceutical-related
companies, legal consultancies, financial advisory, accounting
and audit offices. The ‘Professional Sectors Facility’ is offered to
companies that have been operating for more than one year,
under which loan facilities up to QR2mn will be disbursed in
multiple tranches. In addition to these two products, QNBK is
also extending its support to the manufacturing and tourism
sectors, which are crucial to Qatar’s 2030 National Vision.
QNBK’s support is extended through its ‘one stop shop’
approach to SMEs. (Gulf-Times.com)
 MEI: QR248bn spent on 670 industrial establishments in
Qatar – HE Minister of Energy & Industry (MEI) Dr. Mohamed
bin Saleh al-Sada stated that the ministry had provided
numerous industrial investment opportunities and incentives in
various fields. The QR248bn investments have led to 670
industrial establishments in the state as of May 2014. Al-Sada
said foreign investments took 52% share in this. He said that the
MEI has prepared a list of 30 small and medium projects in
important fields such as pharmaceutical, chemical, metallurgical,
and eco-friendly and high-tech industries. (Gulf-Times.com)
 EY: Qatar hotel room yields rise 1.7% to $169 – According to
global consultant Ernst & Young (EY), Qatar’s hospitality
industry enjoyed flourishing business during the first four months
of 2014, with Doha witnessing a rise in hotel rooms’ yield mainly
due to higher occupancy. Doha’s hotels, whose occupancy
surged 4% to 71%, saw their room’s yield (RevPAR) expand
1.7% to $169, although average rooms’ rate fell 4.2% to $236 in
January-April 2014. In April alone, hotel rooms’ yield in Doha
rose 5.4% to $177 on the back of a 4% gain in occupancy to
76% amid a marginal 0.1% increase in average room rate to
$230. (Gulf-Times.com)
 AREDC: Qatar residential property most rewarding for
investors – According to Al Asmakh Real Estate Development
Company (AREDC), Qatar’s residential real estate could be one
of the most rewarding sectors for investors due to higher leasing
demand amid limited supply resulting in higher rate on
investments. AREDC’s report said that abundant financing
available on comfortable terms make it easy for new
acquisitions. The report said that the gross annual yield in the
residential segment is as high as 9% in a few selected buildings,
which have greater specifications and better maintenance
standards. The average gross annual yield is close to 7% across
the residential segment, the highest yield was seen in Al Sadd
followed by The Pearl Qatar. AREDC said that the overall
appreciation in rental rates was 5% to 10% in 1Q2014 as
compared to 4Q2013. (Gulf-Times.com)
 LREDC awards infrastructural contract to Al Jaber
Engineering – Lusail Real Estate Development Company
(LREDC) awarded a contract to Al Jaber Engineering for
constructing the infrastructure of the Seef Lusail North and
Waterfront Commercial districts of Lusail City. As part of
LREDC's support for local enterprise, the package includes the
development of the entire infrastructure for that area, which
includes streets, pavements, lighting systems sewage and storm
networks, and all water and irrigation systems. The agreement
will also see Al Jaber Engineering develop and connect all
power grids and telecommunications networks, as well as the
central water, gas, district cooling, and waste management
networks. With work already underway, the construction is
expected to finish by October 2015. (Zawya)
 ABQK launches new corporate identity – Al Ahli Bank
(ABQK) has announced the launch of its new logo and corporate
identity designed to reflect its deep local roots and its
commitment to personal and corporate banking customers. The
Overall Activity Buy %* Sell %* Net (QR)
Qatari 64.76% 68.87% (14,429,076.05)
Non-Qatari 35.23% 31.13% 14,429,076.05

3. Page 3 of 5
new identity is a modern interpretation of an icon from Qatar’s
past, the oyster shell, which marks the first of a series of
planned developments for ABQK over the coming months,
following the transformation of its branches, technology and
employee engagement. These changes will enable ABQK to
deliver a more personal banking experience across its business.
(QE)
 ABQK to disclose 1H2014 results on July 09, 2014 – Ahli
Bank (ABQK) will disclose the financial reports for the period
ending June 30, 2014 on July 09, 2014. (QE)
 QIBK opens branch in Umm Salal City – Qatar Islamic Bank
(QIBK) has opened a new state-of-the-art branch at Umm Salal
City as part of its expansion strategy to be at the center of
thriving communities in the country. The branch is located along
Umm Salal Mohamed Road in Barzan 1 Souq. The new branch
increases the bank’s countrywide network to 30 branches and
160 ATMs across the country. (Gulf-Times.com)
International
 WSJ: BNP Paribas to plead guilty and pay up to $9bn
penalty – The Wall Street Journal reported that French bank
BNP Paribas SA will pay around $8-9bn, and plead guilty to
accept other sanctions under a settlement with US authorities
over violation of US sanctions. The bank would be temporarily
banned from handling transactions in US dollars, probably for a
few months, and would announce the departure of around 30
employees as well. BNP Paribas will probably plead guilty in
early July to a criminal charge of conspiring to violate the
International Emergency Economic Powers Act. The penalty
would make BNP Paribas the second major European bank to
plead guilty in the US this year. Earlier in May 2014, Credit
Suisse had agreed to pay $2.6bn, the largest penalty for an
offshore tax case, after pleading guilty of using secret Swiss
accounts to help Americans hide money from the Internal
Revenue Service. (Bloomberg)
 ECB likely to keep its rates low until 2016 – The European
Central Bank’s (ECB) Governing Council Member Ewald
Nowotny said the ECB is unlikely to raise its interest rates from
record lows until 2016, when the Eurozone economy is expected
to pick up more strongly. He said interest rates will turn as soon
as there is clear growth of more than 2%, but from today's
perspective that will hardly be before 2016. He said a recovery
in the Eurozone was showing only signs of green shoots and the
ECB's cheap money was not always making its way to
companies wanting to borrow. He said the psychological mood
is lacking a bit. Meanwhile, the ECB has forecast that the
Eurozone economy would grow between 0.5% and 3.1% in
2016. Earlier on June 5, the ECB had cut interest rates to record
lows and its deposit rate to below zero, while launching a series
of steps to boost lending to companies. (Reuters)
 Chinese Flash PMI climbs in sign of pickup – A Chinese
manufacturing gauge rose to a seven-month high in June 2014,
indicating that the economy is picking up after the government
rolled out measures to support growth. A preliminary Purchasing
Managers’ Index from HSBC and Markit Economics stood at
50.8, exceeding the final reading of 49.4 in May. The report,
known as the ‘Flash PMI’, is typically based on 85% to 90% of
responses to the purchasing managers’ survey at more than 420
companies. Meanwhile, another private report, known as China
Beige Book, a quarterly survey modeled on the US Federal
Reserve report, showed that China’s economic slowdown
deepened this quarter, as capital spending showed weakness
and fewer companies applied for credit. The slowdown hurt
hiring and wages, and interest rates offered by shadow lenders
fell below levels offered by banks. (Bloomberg)
Regional
 Barclays Capital: Mideast producers to spend $40bn on oil
& gas – According to Barclays Capital, Middle East oil & gas
producers are expected to increase their spending on
exploration and production by 15% to $40bn in 2014. Saudi
Aramco's continued focus on unconventional gas this year
would ensure that energy investment spending remains elevated
in the region. (Bloomberg)
 RSH signs SR67.43mn housing contract with Papua New
Guinea – Red Sea Housing Services Company (RSH) has
signed a contract worth SR67.43mn with the Government of
Papua New Guinea to construct housing units for Bomana
Police Housing Estate in Port Moresby. RSH will begin work
immediately on the construction of 150 housing units over
70,000 square meters, which will have to be fully handed over
within 10 months. The financial impact of this project is expected
to be reflected on the financial statements starting from 3Q2014.
(Tadawul)
 Almarai invests in Egypt through Beyti – Almarai announced
that the International Company for Agricultural Industries (Beyti),
a subsidiary company of the International Dairy & Juice Ltd
(IDJ), a joint venture between Almarai Company (52%) and
PepsiCo (48%) will disclose its new strategic plan to invest
SR1.3bn in Egypt. This investment plan, will span over the next
five years, and is aimed at enhancing Beyti’s competitive
position in the Egyptian market. The program will be funded in
majority by an equity injection from both the JV partners, as per
their percentage of ownership, the rest through Beyti’s financial
debt. For Almarai, this equity injection will be financed through
its own cash flow. (Tadawul)
 Bahri’s EGM approves 25% capital increase – The National
Shipping Company of Saudi Arabia’s (Bahri) EGM has approved
25% increase in the company’s capital from SR3.15bn to
SR3.94bn through the issuance of 78.75mn shares. The
company’s outstanding shares will increase from 315mn to
393.75mn shares. The consideration shares were valued under
the terms of the transaction at a price of SR22.25 per share,
with a total value of SR1.75bn and are to be issued to Saudi
Aramco Development Company. Further, the EGM has
approved the merger of Bahri’s fleet with Vela. The EGM
approved the payment of the cash consideration of an amount
equal to SR3.12bn to Vela, on the basis stated in the prospectus
and the issuance of the 78.75mn consideration shares.
(Tadawul)
 ACWA Power consortium signs deal on $2bn Vietnam
power project – A consortium including ACWA Power and
Taekwang Power Holdings Company of Korea has signed an
agreement to develop a $2bn power project in Vietnam. Under
the agreement, the group will develop the Nam Dinh 1 IPP
Project, a 1,200MW coal power plant located in Hai Hau District.
Nam Dinh1 IPP Project is to be developed on a build, own,
transfer (BOT) basis with a total investment cost of more than
$2bn. The Electricity of Vietnam (EVN), the government owned
national utility will buy power from the project. The operation &
maintenance of the project will be undertaken by the consortium
with a leading role by NOMAC, a subsidiary of ACWA Power.
(Bloomberg)
 FCA: AED1.5tn in trade passed through UAE ports in 2013 –
According to the Federal Customs Authority (FCA), the value of
goods passing through UAE ports increased 5% in 2013,
propelled by growing imports. The total amount of non-oil goods
traded through the UAE grew 5% to AED1.58tn. In total
198.3mn tons of goods passed through the country’s seaports
and airports in 2013. The total value of imports grew by 5.6% to

4. Page 4 of 5
AED971.2bn in 2013 from AED919.9bn in 2012. Gold was the
top commodity imported in 2013, followed by phone sets, cars,
diamonds and articles of jewelry. The value of re-exports grew
10.9% to AED443.4bn in 2013 from AED399.7bn in 2012.
(GulfBase.com)
 Magnum to invest $262mn in Vietnamese ecotourism
project – Dubai-based Magnum Group is planning to invest
$262mn in Truong Le Mountain ecotourism zone and South
Sam Son coast project in Vietnam. The project will include a golf
complex and a luxury international resort. (Bloomberg)
 Emrill wins FM contract for Anantara Residences Dubai The
Palm – Emrill has been awarded a three-year facilities
management (FM) contract for Anantara Residences Dubai The
Palm. Under the agreement, Emrill will provide integrated FM
services including MEP, security, concierge and housekeeping,
along with specialist services covering maintenance of
generators, elevators, swimming pools and landscaping, among
other unique services. (Bloomberg)
 ADX, NBAD sign deal for listing bonds – The Abu Dhabi
Securities Exchange (ADX) has entered into an agreement with
the National Bank of Abu Dhabi (NBAD) for the listing of bonds
and new debt instruments at the exchange. Under the
agreement, NBAD will act as ADX’s account operator.
Settlement and clearing will take place via NBAD through ADX’s
participant account at Euroclear, which specializes in the
settlement of securities transactions as well as the safekeeping
and asset servicing of these securities. The agreement paves
the way for new debt instruments to be listed and traded on ADX
as their primary platform, which will help to a more attractive and
dynamic climate for investment in Abu Dhabi. (ADX)
 Aldar receives new Estidama Pearl Rating for its housing
projects – Aldar Properties’ two national housing projects, Al
Sila’a and Al Raha national housing, have been awarded a Two
Pearl Construction Rating from Estidama Pearl Villa Rating
System (PVRS). (GulfBase.com)
 Dolphin Energy records 20% reduction in flaring – According
to Dolphin Energy’s sustainability report, the company has
recorded a 20% reduction in flaring and at the same time
exceeded the Ministry of Environment’s flaring target of 0.3% in
gas export. The company has secured gas without interruption
in supply to customers and recording 99.997% plant availability,
reaching 1bn barrels of oil equivalent of cumulative gross
production. The company has also achieved 23mn man hours
without a lost time incident (LTI), in addition to a 12% rise in
community investment expenditure in Qatar. Environmental
commitments saw the company register a 4% reduction in total
greenhouse gas (GHG) emissions, 51% reduction in sulfur
dioxide (SO2) emissions, and 12% reduction in water
consumption. (GulfBase.com)
 ADDED releases first Abu Dhabi Innovation Index – The Abu
Dhabi Department of Economic Development (ADDED)
announced the results of the first “Abu Dhabi Innovation Index”,
which was prepared in collaboration with INSEAD. The results
confirm that Abu Dhabi is now in a position to gain access to the
knowledge necessary for innovation, and to localize and
consolidate that knowledge. The results of Abu Dhabi Innovation
Index show that, when compared to other economies dependent
on natural resources, the Emirate of Abu Dhabi emerged as
efficient in adopting and positioning of knowledge, new
technologies, products and services across its entire economy.
(GulfBase.com)
 Jazeera leases Airbus A320s to TAP Portugal Airlines –
Jazeera Airways Group's fully-owned aircraft leasing subsidiary,
Sahaab Aircraft Leasing, has placed two Airbus A320 aircraft on
long-term leases with TAP Portugal Airlines. (Bloomberg)
 Kuwait Cassation Court accepts OCI appeal on tender –
Oman Cables Industry’s (OCI) appeal has been accepted by the
Cassation Court in Kuwait and overruled the Appeal Court
Verdict, finding that OCI is not liable to pay OMR1.35mn with
7% interest. The Cassation Court rejected the claim presented
by OCI demanding the second party to pay back OMR341,000
with 7% interest as was ruled by the Primary Court. Earlier on
July 21, 2013, Appeal Court verdict found OCI liable for paying
the second party the amount of KD1mn with 7% interest. (MSM)
 OCEC main tender to be awarded by November – The Oman
Convention & Exhibition Centre’s (OCEC) major contract for
building a 3,100-seat capacity main auditorium and banquet
halls is scheduled to be awarded between October and
November 2014. Contracting firms have been given time up to
June 25, 2014 for submitting their financial bids, which will be
evaluated by authorities for selecting the right company. Apart
from the main auditorium, the scope of work of the construction
package includes a secondary auditorium of approximately 450
seats, two ball rooms, specialty food court outlets, 20 meeting
rooms of different sizes, general administration areas, roads and
other facilities. (GulfBase.com)
 IPOs of Al Batinah Power, Al Suwadi Power oversubscribed
– The OMR32.5mn IPO of Al Suwadi Power was overall
subscribed 10.51 times, with Category I being subscribed 5.31
times and Category II being subscribed 20.16 times. Similarly,
the OMR30.2mn IPO of Al Batinah Power was oversubscribed
5.56 times, with Category I being subscribed 10.80 times and
Category II being subscribed 20.52 times. (Bloomberg)
 Investcorp signs $400mn revolving credit facility –
Investcorp has signed a $400mn revolving credit facility with 14
banks. The proceeds of borrowing under the new facility will be
utilized to refinance an existing debt facility and for general
corporate purposes. The new facility has a final maturity in July
2018 and the debt is guaranteed by Investcorp’s parent,
Investcorp Bank. (Bahrain Bourse)

5. Contacts
Saugata Sarkar Abdullah Amin, CFA Shahan Keushgerian
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6509
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa shahan.keushgerian@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: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Exchange; QNB is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an
offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise potential
investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from sources that QNBFS believes to be
reliable, we have not independently verified such information and it may not be accurate or complete. While this publication has been prepared with the utmost degree of care by our analysts,
QNBFS does not make any representations or warranties as to the accuracy and completeness of the information it may contain, and declines any liability in that respect. QNBFS reserves the
right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the
views and opinions included in this report.
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS.
Page 5 of 5
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
160.0
170.0
180.0
190.0
200.0
210.0
Jul-10 Jul-11 Jul-12 Jul-13
QE Index S&P Pan Arab S&P GCC
0.1% 0.1%
1.2%
(0.3%)
0.0% 0.0%
(2.3%)(3.0%)
(2.0%)
(1.0%)
0.0%
1.0%
2.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,314.85 0.0 0.0 9.1 DJ Industrial 16,947.08 0.0 0.0 2.2
Silver/Ounce 20.88 0.0 0.0 7.2 S&P 500 1,962.87 0.0 0.0 6.2
Crude Oil (Brent)/Barrel (FM
Future)
114.81 0.0 0.0 3.6 NASDAQ 100 4,368.04 0.0 0.0 4.6
Natural Gas (Henry
Hub)/MMBtu
4.51 0.0 0.0 3.9 STOXX 600 348.09 0.0 0.0 6.0
LPG Propane (Arab Gulf)/Ton 108.75 0.0 0.0 (13.9) DAX 9,987.24 0.0 0.0 4.6
LPG Butane (Arab Gulf)/Ton 125.75 0.0 0.0 (7.9) FTSE 100 6,825.20 0.0 0.0 1.1
Euro 1.36 0.0 0.0 (1.0) CAC 40 4,541.34 0.0 0.0 5.7
Yen 102.07 0.0 0.0 (3.1) Nikkei 15,349.42 0.0 0.0 (5.8)
GBP 1.70 0.0 0.0 2.8 MSCI EM 1,043.86 0.0 0.0 4.1
CHF 1.12 0.0 0.0 (0.2) SHANGHAI SE Composite 2,026.67 0.0 0.0 (4.2)
AUD 0.94 0.0 0.0 5.3 HANG SENG 23,194.06 0.0 0.0 (0.5)
USD Index 80.37 0.0 0.0 0.4 BSE SENSEX 25,105.51 0.0 0.0 18.6
RUB 34.47 0.0 0.0 4.9 Bovespa 54,638.19 0.0 0.0 6.1
BRL 0.45 0.0 0.0 5.9 RTS 1,358.73 0.0 0.0 (5.8)
179.0
150.4
136.6