1. QE Intra-Day Movement
Market Indicators
11,100
11,090
11,080
11,070
Market Indices
11,060
11,050
9:30
20 Jan 14
423.7
583,970.7
8.9
4,698
42
12:28
Value Traded (QR mn)
Exch. Market Cap. (QR mn)
Volume (mn)
Number of Transactions
Companies Traded
Market Breadth
10:00
10:30
11:00
11:30
12:00
12:30
13:00
Qatar Commentary
The QE index declined 0.2% to close at 11,072.1. Losses were led by the Real
Estate and Industrials indices, declining 1.7% and 1.0% respectively. Top losers
were Qatar Cinema & Film Dist. Co. and Qatari Investors Group, falling 7.7%
and 3.9% respectively. Among the top gainers, Qatar Islamic Bank rose 1.9%,
while Widam Food Co. gained 1.5%.
19 Jan 14
478.4
584,973.5
12.9
5,692
40
24:15
%Chg.
(11.4)
(0.2)
(30.9)
(17.5)
5.0
–
Close
Total Return
All Share Index
Banks
Industrials
Transportation
Real Estate
Insurance
Telecoms
Consumer
Al Rayan Islamic Index
1D%
WTD%
YTD%
TTM P/E
15,819.53
2,739.40
2,634.15
3,640.32
1,958.00
2,042.98
2,556.94
1,523.08
6,049.63
3,198.72
(0.2)
(0.2)
0.6
(1.0)
(0.6)
(1.7)
(0.4)
(0.6)
(0.0)
(0.9)
(0.3)
(0.3)
0.3
(1.6)
(0.1)
(0.3)
2.7
(0.3)
(0.6)
(0.9)
6.7
5.9
7.8
4.0
5.4
4.6
9.4
4.8
1.7
5.4
N/A
13.7
13.4
13.2
13.2
14.0
10.3
20.7
22.9
16.5
GCC Commentary
GCC Top Gainers##
Exchange
Close#
Saudi Arabia: The TASI index fell 0.1% to close at 8,727.8. Losses were led
by the Telecom. & Info. Tech. and Agri. & Food Ind. indices, falling 1.0% and
0.9% respectively. Al Babtain fell 6.0%, while Arabian Pipes was down 4.7%.
Ajman Bank
1D%
Dubai
2.73
14.7
10,245.6
10.1
Nat. Bank Of Bahrain
Bahrain
0.75
7.1
160.8
7.9
Dubai: The DFM index gained 1.4% to close at 3,669.8. The Investment &
Financial Services index rose 2.7%, while the Real Estate & Construction
index was up 2.2%. GGICO surged 14.9%, while Ajman Bank gained 14.7%.
Deyaar Development
Dubai
1.24
6.0
293,171.1
22.8
Fawaz Alhokair
Saudi Arabia
143.25
5.3
427.0
3.1
Abu Dhabi: The ADX benchmark index rose 0.2% to close at 4,570.0. The
Investment & Financial Ser. index gained 6.1%, while the Energy index was up
2.3%. Union Cement rose 9.4%, while Al Khazna Insurance was up 7.1%.
Abdullah Al Othaim
Saudi Arabia
131.00
4.8
246.8
5.0
GCC Top Losers
Exchange
Kuwait: The KSE index gained 0.5% to close at 7,738.3. The Health Care
index rose 1.5%, while the Real Estate index was up 0.9%. Future Kid
Entertainment & Real Estate gained 9.1%, while Gulf Fin. House was up 8.6%.
Nat. Marine Dredging
Abu Dhabi
8.33
(9.5)
0.1
(3.1)
Abu Dhabi Nat. Ins. Co.
Abu Dhabi
5.80
(9.4)
3.0
(1.7)
Oman: The MSM index rose 0.4% to close at 7,165.1. Gains were led by the
Financial and Services indices, rising 0.5% and 0.2% respectively. Bank Sohar
rose 3.6%, while Oman Investment & Finance was up 2.5%.
City Cement Co.
Saudi Arabia
23.80
(4.2)
1,477.4
3.7
Saudi Dairy & Food Co.
Saudi Arabia
81.25
(4.1)
116.9
(5.8)
Qatari Investors Group
Qatar
45.50
(3.9)
721.9
4.1
Bahrain: The BHB index gained 0.9% to close at 1,280.0. The Commercial
Banking index rose 1.7%, while the Investment index was up 1.4%. Gulf
Finance House gained 9.8%, while National Bank of Bahrain was up 7.1%.
##
#
Close
Vol. ‘000
1D% Vol. ‘000
YTD%
YTD%
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 Islamic Bank
Close*
1D%
Vol. ‘000
YTD%
Qatar Exchange Top Losers
Close*
1D%
Vol. ‘000
YTD%
75.00
Qatar Exchange Top Gainers
1.9
566.2
8.7
Qatar Cinema & Film Dist. Co.
40.10
(7.7)
0.4
0.0
37.2
2.1
Qatari Investors Group
45.50
(3.9)
721.9
4.1
Widam Food Co.
52.80
1.5
Doha Insurance Co.
27.55
1.5
12.9
10.2
Gulf Warehousing Co.
40.95
(3.2)
87.1
(1.3)
Doha Bank
65.40
1.4
477.8
12.4
Mazaya Qatar Real Estate Dev.
12.20
(2.6)
1,177.2
9.1
QNB Group
180.30
1.2
285.3
4.8
Islamic Holding Group
46.00
(2.5)
58.3
0.0
Qatar Exchange Top Vol. Trades
Close*
1D%
Vol. ‘000
YTD%
Qatar Exchange Top Val. Trades
Close*
1D%
Val. ‘000
YTD%
Mazaya Qatar Real Estate Dev.
12.20
(2.6)
1,177.2
9.1
Industries Qatar
176.90
(1.1)
54,215.2
4.7
Qatar Gas Transport Co.
21.09
(0.1)
989.4
4.1
QNB Group
180.30
1.2
51,443.7
4.8
Masraf Al Rayan
35.00
(0.4)
818.0
11.8
Qatar Islamic Bank
75.00
1.9
42,383.0
8.7
Qatari Investors Group
45.50
(3.9)
721.9
4.1
Qatari Investors Group
45.50
(3.9)
33,167.1
4.1
Vodafone Qatar
11.33
(1.1)
703.4
5.8
Doha Bank
65.40
1.4
31,220.4
12.4
Source: Bloomberg (* in QR)
Source: Bloomberg (* in QR)
Regional Indices
Qatar*
Dubai
Abu Dhabi
Saudi Arabia
Kuwait
Oman
Bahrain
Close
1D%
WTD%
MTD%
YTD%
11,072.13
3,669.83
4,569.98
8,727.78
7,738.26
7,165.13
1,279.96
(0.2)
1.4
0.2
(0.1)
0.5
0.4
0.9
(0.3)
1.7
1.1
(0.4)
1.0
0.3
0.9
6.7
8.9
6.5
2.3
2.5
4.8
2.5
6.7
8.9
6.5
2.3
2.5
4.8
2.5
Exch. Val. Traded
($ mn)
144.01
662.39
348.41
1,496.74
155.60
32.45
3.89
Exchange Mkt.
Cap. ($ mn)
160,358.3
74,492.1
129,284.7
479,522.8
110,261.3
25,499.7
50,727.5
P/E**
P/B**
13.9
21.6
12.8
17.7
17.1
11.2
8.3
1.9
1.5
1.6
2.2
1.2
1.7
0.9
Dividend
Yield
4.1
2.4
3.9
3.4
3.7
3.6
3.8
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
Page 1 of 6

2. Qatar Market Commentary
 The QE index declined 0.2% to close at 11,072.1. The Real
Estate and Industrials indices led the losses. The index declined
on the back of selling pressure from Qatari shareholders despite
buying support from non-Qatari shareholders.
 Qatar Cinema & Film Dist. Co. and Qatari Investors Group were
the top losers, falling 7.7% and 3.9% respectively. Among the
top gainers, Qatar Islamic Bank rose 1.9%, while Widam Food
Co. gained 1.5%.
Overall Activity
Buy %*
Sell %*
Net (QR)
Qatari
55.20%
71.87%
(70,614,235.17)
Non-Qatari
44.79%
28.13%
70,614,235.17
Source: Qatar Exchange (* as a % of traded value)
 Volume of shares traded on Monday fell by 30.9% to 8.9mn from
12.9mn on Sunday. However, as compared to the 30-day
moving average of 11.5mn, volume for the day was 22.0% lower.
Mazaya Qatar Real Estate Dev. and Qatar Gas Transport Co.
were the most active stocks, contributing 13.2% and 11.1% to
the total volume respectively.
Earnings and Global Economic Data
Earnings Releases
Company
Basic Chemical Industries
Co.
Saudi Telecom Co. (STC)
United Cooperative
Assurance Co. (UCA)
Knowledge Economic City
(KEC)
Saudi Real Estate Co.
(Akaria)
Wataniya Insurance Co.
Al-Tayyar Travel Group
Holding Co.
Saudi Industrial Services Co.
Allied Cooperative Insurance
Group (ACIG)
Tabuk Agriculture
Development Co.
Takween Advanced
Industries
Middle East Specialized
Cables Co. (MESC)
Saudi Orix Leasing Co.
Saudia Dairy & Foodstuff
Co. (SADAFCO)
Arriyadh Development Co.
Anaam International Holding
Group Co.
Sanad Insurance &
Reinsurance Cooperative
Co. (SANAD)
Saudi Transport &
Investment Co.
Arabian Cement Co.
Mobile Telecommunications
Co. (ZAIN Saudi)
Saudi Pharmaceutical Ind. &
Med. Appliances Corp.
(SPIMACO)
Alahli Takaful Co. (ATC)
Aseer Trading, Tourism &
Manufacturing Co.
Dar Alarkan Real Estate
Development Co.
National Petrochemical Co.
(Petrochem)
Saudi Printing & Packaging
Co. (SPPC)
Savola Group
Alujain Corporation (ALCO)
Methanol Chemicals Co.
(CHEMANOL)
Revenue
(mn) 4Q2013
% Change
YoY
Operating Profit
(mn) 4Q2013
% Change
YoY
Net Profit (mn)
4Q2013
% Change
YoY
–
–
10.2
-63.2%
3.7
-75.2%
–
–
2,852.0
43.8%
3,623.0
821.9%
146.5
10.0%
–
–
1.8
-45.8%
–
–
-0.6
96.5%
15.0
NA
SR
–
–
42.1
5.0%
61.8
9.0%
Saudi Arabia
SR
31.0
-38.5%
–
–
0.6
7862.5%
Saudi Arabia
SR
–
–
214.0
26.6%
209.0
33.1%
Saudi Arabia
SR
–
–
32.3
0.2%
11.8
32.9%
Saudi Arabia
SR
61.7
-1.3%
–
–
1.8
NA
Saudi Arabia
SR
–
–
-1.7
29.4%
-1.8
36.2%
Saudi Arabia
SR
–
–
1.4
-93.7%
1.2
-94.4%
Saudi Arabia
SR
–
–
10.7
412.4%
1.9
NA
Saudi Arabia
SR
–
–
41.4
15.1%
27.6
32.3%
Saudi Arabia
SR
–
–
41.3
5.7%
38.6
8.5%
Saudi Arabia
SR
–
–
44.2
-42.1%
45.3
-36.3%
Saudi Arabia
SR
–
–
-21.4
-631.9%
-11.5
NA
Saudi Arabia
SR
49.3
23.6%
–
–
0.3
11.6%
Saudi Arabia
SR
–
–
-4.9
-1787.3%
81.4
NA
Saudi Arabia
SR
–
–
-80.8
NA
-108.7
NA
Saudi Arabia
SR
–
–
-271.0
-3.4%
-462.0
-4.3%
Saudi Arabia
SR
–
–
50.6
-19.8%
57.0
6.1%
Saudi Arabia
SR
7.5
7.7%
–
–
1.2
41.2%
Saudi Arabia
SR
–
–
75.6
25.4%
40.3
19.2%
Saudi Arabia
SR
–
–
220.8
-8.8%
156.8
8.9%
Saudi Arabia
SR
–
–
191.5
NA
74.6
NA
Saudi Arabia
SR
–
–
13.6
-15.5%
3.6
-95.8%
Saudi Arabia
SR
–
–
563.0
-29.4%
564.0
36.6%
Saudi Arabia
SR
–
–
85.2
31.3%
33.8
97.5%
Saudi Arabia
SR
–
–
45.5
76.3%
36.0
137.0%
Market
Currency
Saudi Arabia
SR
Saudi Arabia
SR
Saudi Arabia
SR
Saudi Arabia
SR
Saudi Arabia
Page 2 of 6

3. Basic Chemical Industries
Co.
Saudi Arabia
SR
–
–
10.2
-63.2%
3.7
-75.2%
Source: Company data, DFM, ADX, MSM
Global Economic Data
Date
Market
Source
Indicator
Period
01/20
Germany
Destatis
PPI MoM
December
01/20
Germany
Destatis
PPI YoY
December
01/20
UK
Rightmove
Rightmove House Prices MoM
January
01/20
UK
Rightmove
Rightmove House Prices YoY
01/20
Italy
ISTAT
01/20
Italy
01/20
China
01/20
Actual
Consensus
Previous
0.10%
0.00%
-0.10%
-0.50%
-0.60%
-0.80%
1.00%
–
-1.90%
January
6.30%
–
5.40%
Industrial Sales MoM
November
0.90%
–
-0.70%
ISTAT
Industrial Orders MoM
November
2.30%
0.00%
-2.30%
National Bureau of Stat.
GDP YTD YoY
4Q2013
7.70%
7.70%
7.70%
China
National Bureau of Stat.
GDP YoY
4Q2013
7.70%
7.60%
7.80%
01/20
China
National Bureau of Stat.
Industrial Production YTD YoY
December
9.70%
9.70%
9.70%
01/20
China
National Bureau of Stat.
Industrial Production YoY
December
9.70%
9.80%
10.00%
01/20
China
National Bureau of Stat.
Retail Sales YTD YoY
December
13.10%
13.10%
13.00%
01/20
China
National Bureau of Stat.
Retail Sales YoY
December
13.60%
13.60%
13.70%
01/20
Japan
Ministry of Eco. Trade
Industrial Production MoM
November
-0.10%
–
1.00%
01/20
Japan
Ministry of Eco. Trade
Industrial Production YoY
November
4.80%
–
5.40%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 DHBK reports net profit of QR236.0mn vs. QR327.2mn (BBG
consensus estimate) in 4Q2013 – Doha Bank (DHBK)
reported a net profit of QR236.0mn in 4Q2013, dropping by
28.2% QoQ. Earnings per share for 2013 stood at QR5.29. Total
assets rose to QR67bn in 2013, representing a 21.3% YoY
growth. Loans & advances rose by 21.8% from QR33.8bn in
2012 to QR41.1bn in 2013, while customer deposits expanded
23.6% to QR42.5bn in 2013. Meanwhile, the bank has declared
a 45% (QR4.5/share) cash dividend (dividend yield of 6.9%),
which will have to be approved by the Qatar Central Bank and
its shareholders. DHBK’s Chairman Sheikh Fahad bin Mohamad
bin Jabor al-Thani said the bank is aiming for 15-20% asset
growth over the next four to five years. (QNBFS Research, GulfTimes.com, Qatar Tribune)
 BRES selling its Barwa Bank stake for QR2.4bn – Barwa
Real Estate Group (BRES) is selling its 37.34% stake in Barwa
Bank for QR2.4bn. This deal is part of an existing agreement
between Qatari Diar and BRES, according to which Barwa sells
some of its assets to Qatari Diar and uses the profit of those
transactions to pay off some credit facilities. The deal is
expected to reflect on the company’s financial results in
4Q2013. BRES has sold all its shares in Barwa Bank after using
its rights to buy back 40.746.660 million shares, about 14% of
the bank’s shares in December 2013. The group is currently
obtaining the necessary regulatory approvals to complete the
transaction. (QE)
 QP to spend $7bn to boost crude, gas condensate
production – According to sources, Qatar Petroleum (QP) is
planning to spend around $7bn over the next seven years to
boost crude oil & gas condensate production from its Bul Hanine
offshore field. The field off Qatar’s east coast produces around
40,000 bpd of crude oil and QP hopes to more than double its
output to 90,000 bpd by 2020. (Peninsula Qatar)
 GDI takes possession of eighth jack-up rig for Oxy – Gulf
Drilling International (GDI) has taken possession of its eighth
jack-up drilling rig, which will be put into service for Occidental
Petroleum of Qatar (Oxy). The rig, which has been named
Msheireb after a district in the heart of Doha, is being towed to
Qatar where it will be prepared with upgrades to provide smooth
and seamless duty to its client, Oxy, at the NKOM (NakilatKeppel Offshore and Marine) shipyard. (Gulf-Times.com)
 Doha Festival City appoints contractor for Qatar's largest
mall – Doha Festival City, Qatar's largest retail & entertainment
destination, has appointed a joint venture of the Gulf Contracting
Company and Alec Qatar as the contractor to work on the
construction for the mall of the QR6bn Doha Festival City
project. Scheduled to open in 3Q2016, the mall will be home to
over 550 brands of which many will be making their debut in
Qatar. (Qatar Tribune)
 QA adds three weekly flights on Doha-Khartoum route –
Qatar Airways (QA) has added three additional flights per week
between Doha and Khartoum, bringing the total number of
services to Sudan to 17 weekly flights. QA’s CEO Akbar Al
Baker said that the extra capacity would be a great boost as it
would improve connections from Khartoum to over 130
destinations across the airline’s global network. (Bloomberg)
International
 Global regulators plan to start work on new bank asset
valuation rule – According to sources, the global regulators are
planning the world’s first common rule within three years to
value hard-to-price assets held by banks after unexpected
revisions have unsettled investors. (Gulf-Times.com)
 ILO warns of jobless recovery as global unemployment
climbs – The International Labour Organization (ILO) said
global unemployment climbed by 5mn people in 2013 to 202mn
despite green shoots in the world economy, signaling a jobless
recovery. Business activity is picking up but the misery of
unemployment continues to pile up. The ILO expects that about
215mn people worldwide to be unemployed by 2018. (ET)
Regional
 GECF: Investments on conventional gas to remain robust –
The Gas Exporting Countries Forum (GECF) said the
investments on conventional gas would continue to be “robust”
in the foreseeable future – it further added that it would favor
“competing fuel-linked” pricing for gas. GECF also stated that
the present hydraulic fracturing (fracking) technology to extract
shale gas would prove to be an “impediment” for future
exploration because of environmental concerns, but it would
Page 3 of 6

4. enhance global gas supply. GECF’s Secretary General Seyed
Mohamed Hossein Adeli said the total reserves of shale gas are
2% and if one talks about production, it will be 6%. This is the
reason why investments on conventional gas will continue to
remain robust. (Gulf-Times.com)
 MEED: Solar energy investment in MENA could cross $50bn
– The MENA region could see more than $50bn worth of
investment in the solar power sector by 2020 as regional
governments push for the adoption of clean energy and take
advantage of the region's high solar irradiation levels. According
to the MENA Solar Energy Report 2014, published by MEED
Insight in association with the Middle East Solar Industry
Association (MESIA), up to 37,000MW of new solar, wind and
hydroelectric projects are planned to be commissioned by the
end of the decade. Among these around 12,000-15,000MW will
be sourced from solar energy projects alone. (GulfBase.com)
 Alkhabeer Capital, USAA Real Estate acquire real estate
assets – Alkhabeer Capital and its investment partner USAA
Real Estate Company announced that their real estate
investment team has completed the acquisition of Gateway
Distribution Portfolio in the city of St. Louis in the US. The
Gateway Distribution Centers I & II, are modern, Class A
warehouse buildings totaling 280,407 square meters that are
strategically located in the Gateway Commerce Center. This
premier bulk distribution park is located in the St. Louis area and
is close to a major US port, four cargo handling airports, and two
major highways. (GulfBase.com)
 Kingdom’s two big hospitals plan stock market listings –
Saudi Arabia’s two private hospital operators are planning to list
their shares on the stock market as pressure mounts on the
government to pour huge sums into the underdeveloped sector.
Sulaiman Al-Habib Medical Group and Almana General
Hospitals are expected to list on the local bourse in late 2014 or
early 2015. (GulfBase.com)
 Saudi Aramco cuts February supply due to maintenance –
According to sources, Saudi Aramco will supply less of its Arab
Extra Light crude in February 2014 due to maintenance at one
of its biggest oilfields. The company will carry out maintenance
at the Shaybah oilfield in February that could last up to two
months. Shaybah has a capacity of 750,000 bpd, which is
expected to rise to 1mn bpd by the end of 2016 or early 2017.
(Reuters)
 Zain Saudi’s 4G use soars 1,400% in 2013 – The Mobile
Telecommunication Company (Zain Saudi) revealed that its 3G
network witnessed an unprecedented 100% increase in data
traffic, as compared to the same period in last year. Similarly,
Zain Saudi 4G network saw a 600% increase in data traffic and
1,400% increase in active user rates in 2013. (GulfBase.com)
 New JV to target Saudi solar projects – A new JV has been
set up by Saudi Arabia's Abdul Latif Jameel Energy (ALJ
Energy) and Fotowatio Renewable Ventures (FRV) to develop
solar energy projects in the Kingdom. Both companies will jointly
develop and invest in photovoltaic (PV) solar power plants.
Through this venture, FRV and ALJ Energy will together on the
tender of the King Abdullah City for Atomic & Renewable Energy
program, which includes the construction of 41 GW of solar
power plants by 2032, of which 16 GW will be photovoltaic.
(GulfBase.com)
 Savola Group declares SR266.99mn dividends for 4Q2013 –
Savola Group’s board of directors has approved the distribution
of dividends worth SR266.99mn (SR0.5 per share) for 4Q2013,
representing 5% of the share’s nominal value. Shareholders
who are registered in the company’s books by the end of the
trading date on the day of its AGM will be eligible for these
dividends. (Tadawul)
 STC declares SR1,500mn dividends for 4Q2013 – The Saudi
Telecom Company’s (STC) board of directors has
recommended the distribution of dividends worth SR1,500mn
(SR0.75 per share), representing 7.5% of the face value for
4Q2013 to its shareholders. Those shareholders who are
registered in the Security Depository Center on the day of the
shareholder meeting will be eligible for these dividends.
(Tadawul)
 ADC to increase its capital through bonus shares – Arriyadh
Development Company’s (ADC) board of directors has
recommended for 33.3% increase in the company’s capital
through bonus shares. The company’s capital is to be raised
from SR1,000mn to SR1,333.3mn, which will be done through
the capitalization of SR333.3mn from account. With this, the
number of shares would go up from 100mn to 133.3mn shares.
(Tadawul)
 UAE's Shah Gas Project to be online early 2015 – The Abu
Dhabi National Oil Company’s (ADNOC) Chief Executive
Abdulla Nasser Al Suwaidi said that the UAE’s Shah Gas
Project will not be operational until early 2015, confirming the
multi-billion dollar development was behind schedule. ADNOC
officials had previously said the project, which would produce
usable gas from Shah's high-sulfur reserves, will be completed
in late 2014. (Reuters)
 Arabtec wins AED5.7bn Jordan resort contract – Arabtec
Construction has been selected to execute an AED5.7bn
contract for the construction of the Red Sea Astrarium, a
themed-entertainment resort in Aqaba, Jordan. The Astrarium is
an integrated entertainment, hospitality, and leisure
development that is set to become a family destination,
attracting visitors from across the Middle East. (GulfBase.com)
 Dubai starts work on huge resort on man-made islands –
The Kleindienst Group has started building a huge resort
complex on a man-made archipelago off Dubai's coast. The
group said the “Heart of Europe” project, a complex of luxury
hotels and villas stretching across six small islands is expected
to be completed by 2016-end. Lying about 5 kilometers off
mainland Dubai in the Gulf, the project will feature classic Italian,
Spanish and German architecture as well as landscaped
gardens & streets that in some cases will be lined with artificial
snow. (Peninsula Qatar)
 Flydubai launches first direct air link between Dubai and
Hofuf – Flydubai has announced the launch of flights to Hofuf,
the largest city in the Al-Ahsa region of Saudi Arabia. The new
twice-weekly service to Al Ahsa Airport will commence on
February 6, 2014, bringing the total number of destinations
served by the carrier in the Kingdom to 11. (GulfBase.com)
 DWTC expects 500,000 visitors in 1Q2014 – Dubai World
Trade Centre’s (DWTC) Senior Vice-President– Venues Ahmed
Alkhaja said more than 500,000 visitors are expected to visit the
center in 1Q2014, which is the region’s largest meetings,
incentives, conferences, exhibitions venue. He added that the
growth is driven by many of the region’s leading anchor shows,
including the Arab Health Exhibition & Congress, Gulfood, as
well as a robust calendar of trade events, conferences and
concerts. (GulfBase.com)
 Emaar launches Boulevard Point in Downtown Dubai –
Emaar Properties set to launch “Boulevard Point”, in Downtown
Dubai on January 25, 2014. Featuring 297 residences, this 63storey building will encompass 1-3 bedroom residences.
Located above the Dubai Mall extension, “Boulevard Point” will
Page 4 of 6

5. offer direct access to the mall through a dedicated bridge link.
(GulfBase.com)
reported a net profit of OMR41.4mn for 2013, up from
OMR40.7mn in the previous year. (Gulf-Times.com)
 TAQA to invest $1.2bn for developing Atrush oil & gas
block in Kurdistan region – Abu Dhabi National Energy
Company’s (TAQA) Iraq Operations Head said it is planning to
invest around $1.2bn for developing the Atrush oil & gas block in
the autonomous Kurdistan region. Earlier, TAQA has received
approval from the Kurdistan Regional Government (KRG) to
develop the block in late 2013. The company expects to invest
more than $300mn in the first phase of the project, with first oil
from the 30,000 bpd first phase expected in early 2015.
(Peninsula Qatar)
 Renaissance divests from its NTI subsidiary – Renaissance
Services (RNSS) has entered into a binding agreement with
Babcock International Group (Babcock) to divest its whollyowned
subsidiary,
National
Training
Institute (NTI).
Renaissance’s CEO, Stephen Thomas said that this divestment
is part of the company’s strategy to focus on its core
businesses: the Topaz Offshore Support Vessel Fleet and the
Renaissance Contract Services & Facilities Management Group.
(MSM)
 BIOjet Abu Dhabi to grow aviation biofuel industry in UAE –
Abu Dhabi-based Masdar Institute of Science & Technology and
its partners announced that they will collaborate on a new
initiative to support a sustainable aviation biofuel industry in the
UAE. The venture partners include Abu Dhabi’s oil refining
company Takreer, Total, Etihad Airways and Boeing Company.
The initiative named “BIOjet Abu Dhabi: Flight Path to
Sustainability”, will look at the possibilities to extract biofuels
from agriculture waste, date palm leaves, and plants tolerant to
salt water that can be grown on coastal areas of the UAE.
(GulfBase.com)
 IRENA & ADFD announces $41mn for renewable energy
projects in developing countries – The International
Renewable Energy Agency (IRENA) and the Abu Dhabi Fund
for Development (ADFD) have announced funding for renewable
energy projects in the Republic of Ecuador, Sierra Leone, the
Maldives, Mauritania, Samoa, and Mali. IRENA and ADFD are
providing about $41mn in loans for these projects. These
selected projects bring power to isolated off-grid populations, in
turn will stimulate the local economic development and raise
living standards. The projects selected will provide energy to
over 300,000 people and numerous businesses. In total, 35
megawatts (MW) of energy capacity will come online, along with
4mn liters of biodiesel production per year. (GulfBase.com)
 Mubadala, Shell swap Malaysian oilfield stakes – Mubadala
Petroleum and Royal Dutch Shell have swapped equity stakes
in two exploration blocks off Malaysia. Mubadala has taken a
20% interest in the Shell-operated deepwater Block 2B, while
Shell has taken a 20% interest in the Mubadala-operated Block
SK320 in return. Mubadala, owned by the Abu Dhabi
government, said that drilling in the Block SK320 yielded two
new gas discoveries, called Pegaga and Sintok. (GulfBase.com)
 Shell sells stakes in Australian gas project to KUFPEC for
$1.14bn – Royal Dutch Shell said it had agreed to sell stakes in
a gas project in Western Australia for $1.14bn as part of its drive
to improve return on investment. Shell is selling an 8% stake in
the Wheatstone and nearby Iago gas fields as well as a 6.4%
stake in the related Wheatstone LNG project to the Kuwait
Foreign Petroleum Exploration Company (KUFPEC). The move
raises KUFPEC's holding in the Chevron-led LNG project, in
which the state company is already a partner owning 13.4%
stake. (Qatar Tribune)
 Kuwait Projects hires banks for possible dollar bond sale –
According to sources, Kuwait Projects Company has hired BNP
Paribas, HSBC and JPMorgan for RegS dollar bonds under its
EMTN program. Kuwait Projects Company is set to hold
meetings starting January 23 in Asia, Middle East, Europe for
this bond sale. (Bloomberg)
 OUIC appoints acting CEO – The Oman United Insurance
Company (OUIC) has appointed Muthukumar as the acting
Chief Executive Officer effective from January 20, 2014. (MSM)
 Bank Sohar signs MoU with OHB – Bank Sohar has signed a
MoU with the Oman Housing Bank (OHB) to provide preferential
housing loans to Omani citizens. As part of Bank Sohar’s
commitment to the community, the provision of low-interest
home loans will provide financing for local citizens to own their
dream homes, which in turn will assist in the overall economic
development of the country. (Bloomberg)
 Alizz Islamic Bank reports loss of OMR3.2mn for 13 month –
Alizz Islamic bank has reported a loss of OMR3.2mn for the
period November 2, 2012 to December 31, 2013. For the
preceding period, October 2011 to November 1, 2012, the bank
made a loss of OMR168,432. Total assets stood at
OMR99.72mn. The bank reported OMR487,468 in customers’
current accounts and OMR607,515 in equity of unrestricted
investment account holders. (GulfBase.com)
 Omani CMA plans to launch Oman SME Exchange – The
Omani Capital Market Authority (Omani CMA) is planning to
develop a capital market and exchange for small & medium
enterprises (SME) in Oman. The model is being developed in
line with some of the most successful SME markets in the world,
and in coordination with the Ministry of Commerce & Industry
and the Public Authority for SME Development. (Bloomberg)
 Bahrain Airshow surpasses $3bn mark – Deals worth around
$3bn were concluded during the three-day Bahrain International
Airshow event and its organizers confirmed that business deals
generated at the show were three times higher than the total in
2012. The announcement was made at the close of the third
edition of the event by show’s organizers, the Ministry of
Transportation and the Royal Bahrain Air Force in partnership
with Farnborough International Ltd. With over 100 international
and domestic companies present at the show, the increased
business was a reflection of the event’s importance in the Middle
Eastern aviation market. Over 130 delegations from 32 countries
participated in a series of meetings and events. (GulfBase.com)
 GFH to sell 75% stake in LUFC – The Gulf Finance House
(GFH) has signed an agreement with a consortium of British
investors to sell 75% of its stake in Leeds United Football Club
(LUFC). The agreement is currently awaiting approval from the
English Football Association. Following the sale, GFH’s stake in
LUFC will remain at 10%. GFH stated that the sale should have
a positive financial impact for the company. (Bahrain Bourse)
 NBO reports OMR10.2mn in 4Q2013 – National Bank of Oman
(NBO) posted a net profit of OMR10.2mn in 4Q2013. The bank
Page 5 of 6

6. Rebased Performance
Daily Index Performance
170.0
160.0
150.0
140.0
130.0
120.0
110.0
100.0
90.0
80.0
138.7
126.1
1.2%
0.9%
0.8%
0.5%
0.4%
0.4%
0.2%
0.0%
S&P Pan Arab
Dec-13
S&P GCC
Source: Bloomberg
Asset/Currency Performance
Gold/Ounce
Silver/Ounce
Crude Oil (Brent)/Barrel (FM
Future)
Natural Gas (Henry
Hub)/MMBtu *
North American Spot LPG
Propane Price*
North American Spot LPG
Normal Butane Price*
Euro
Source: Bloomberg
Close ($)
1D%
WTD%
YTD%
Global Indices Performance
Close
1D%
WTD%
YTD%
1,254.66
0.0
0.0
4.1
DJ Industrial*
16,458.56
0.0
0.0
(0.7)
20.33
(0.0)
(0.0)
4.4
S&P 500*
1,838.70
0.0
0.0
(0.5)
106.35
(0.1)
(0.1)
(4.0)
NASDAQ 100*
4,197.58
0.0
0.0
0.5
4.39
0.0
0.0
1.1
STOXX 600
335.50
(0.1)
(0.1)
2.2
137.50
0.0
0.0
8.9
DAX
9,715.90
(0.3)
(0.3)
1.7
150.50
0.0
0.0
10.3
FTSE 100
6,836.73
0.1
0.1
1.3
1.36
0.1
0.1
(1.4)
CAC 40
104.18
(0.1)
(0.1)
(1.1)
Nikkei
GBP
1.64
0.0
0.0
(0.8)
MSCI EM
CHF*
1.10
0.0
0.0
(1.9)
SHANGHAI SE Composite
AUD
0.88
0.3
0.3
(1.2)
USD Index*
81.23
0.0
0.0
RUB
33.76
0.6
0.6
BRL
0.43
0.1
0.1
0.7
Yen
Dubai
May-13
Oman
Oct-12
Abu Dhabi
QE Index
Mar-12
Bahrain
Aug-11
Kuwait
Jan-11
(0.1%) (0.2%)
Qatar
(0.4%)
Saudi Arabia
Jun-10
1.4%
1.6%
159.1
4,322.86
(0.1)
(0.1)
0.6
15,641.68
(0.6)
(0.6)
(4.0)
970.82
(0.1)
(0.1)
(3.2)
1,991.25
(0.7)
(0.7)
(5.9)
HANG SENG
22,928.95
(0.9)
(0.9)
(1.6)
1.5
BSE SENSEX
21,205.05
0.7
0.7
0.2
2.7
Bovespa
48,708.41
(1.0)
(1.0)
(5.4)
1,394.49
(0.1)
(0.1)
(3.3)
Source: Bloomberg (*Market closed on January 20, 2013)
RTS
Source: Bloomberg (*Market closed on January 20, 2013)
Contacts
Saugata Sarkar
Ahmed M. Shehada
Keith Whitney
Sahbi Kasraoui
Head of Research
Head of Trading
Head of Sales
Manager - HNWI
Tel: (+974) 4476 6534
Tel: (+974) 4476 6535
Tel: (+974) 4476 6533
Tel: (+974) 4476 6544
saugata.sarkar@qnbfs.com.qa
ahmed.shehada@qnbfs.com.qa
keith.whitney@qnbfs.com.qa
sahbi.alkasraoui@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
DISCLAIMER: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar
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offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise potential
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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,
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Page 6 of 6