1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.9% to close at 9,238.0. Gains were led by the Banking &
Financial Services and Transportation indices, gaining 1.3% and 1.2%
respectively. Top gainers were Gulf International Services and Qatar Meat &
Livestock Co., rising 4.2% and 2.6% respectively. Among the top losers,
Mannai Corp fell 3.4%, while Qatar Islamic Insurance declined 2.2%.
GCC Commentary
Saudi Arabia: The TASI index gained 0.4% to close at 7,435.2. Gains were
led by the Cement and Building & Construction indices, rising 0.9% and 0.6%
respectively. Al Alamiya for Cooperative Insurance Co. rose 10.0%, while
Etihad Atheeb Telecommunication Co. was up 9.8%.
Dubai: The DFM index rose 1.2% to close at 2,366.8. The Investment &
Financial Services index gained 4.0%, while the Transportation index was up
2.4%. Dubai Financial Market rose 8.7%, while Dubai Islamic Insurance Co.
was up 7.6%.
Abu Dhabi: The ADX benchmark index gained 1.0% to close at 3,562.9. The
Real Estate index rose 2.0%, while the Industrial index was up 1.9%. Sharjah
Cement & Ind. Dev. Co. surged 14.6%, while Gulf Cement Co. was up 9.3%.
Kuwait: The KSE index fell 1.3% to close at 8,300.5. Losses were led by the
Real Estate and Oil & Gas indices, declining 2.5% and 1.9% respectively.
Kuwait Educational Services Co. fell 7.9%, while Al-Dar National Real Estate
Co. was down 7.4%.
Oman: The MSM index rose 0.2% to close at 6,417.8. The Banking &
Investment index gained 0.4%, while the Industrial index was up 0.3%. Oman
& Emirates Inv. rose 4.6%, while Al Sharqia Investment Holding was up 4.1%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Gulf International Services 47.00 4.2 474.0 56.7
Qatar Meat & Livestock Co. 63.20 2.6 616.8 7.5
Gulf Warehousing Co. 41.85 2.1 250.3 24.9
Qatar Gas Transport Co. 17.95 2.0 790.9 17.6
QNB Group 149.40 1.9 188.9 14.1
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatar German Co. for Med. Dev. 14.70 0.7 3,241.5 (0.5)
United Development Co. 21.50 (0.9) 2,395.8 20.8
Masraf Al Rayan 27.25 1.9 1,411.0 9.9
Barwa Real Estate Co. 26.50 (0.2) 904.3 (3.5)
Qatar Gas Transport Co. 17.95 2.0 790.9 17.6
Market Indicators 30 May 13 29 May 13 %Chg.
Value Traded (QR mn) 467.9 562.1 (16.8)
Exch. Market Cap. (QR mn) 509,975.6 506,850.9 0.6
Volume (mn) 14.2 16.7 (15.2)
Number of Transactions 6,300 5,841 7.9
Companies Traded 40 39 2.6
Market Breadth 19:18 29:8 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,198.98 0.9 2.1 16.7 N/A
All Share Index 2,344.77 0.6 1.9 16.4 12.7
Banks 2,187.90 1.3 2.7 12.2 11.8
Industrials 3,174.26 0.2 1.7 20.8 11.8
Transportation 1,662.74 1.2 1.0 24.1 11.8
Real Estate 1,792.59 (0.5) 1.8 11.2 11.9
Insurance 2,293.95 (0.4) 1.1 16.8 13.5
Telecoms 1,286.98 0.7 1.2 20.8 14.9
Consumer 5,556.35 (0.5) 0.2 19.0 19.2
Al Rayan Islamic Index 2,789.47 0.3 1.7 12.1 14.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Dubai Financial Market Dubai 1.63 8.7 106,751.3 59.8
Nat. Bank of Bahrain Bahrain 0.60 6.2 18.7 24.5
Combined Group Cont. Kuwait 1.32 4.8 20.4 (9.6)
IFA Hotels & Resorts Kuwait 0.45 4.7 30.2 2.3
Union National Bank Abu Dhabi 4.70 4.2 2,360.2 62.6
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Comm. Real Estate Co. Kuwait 0.10 (5.7) 7,948.7 40.8
Nat. Industries Group Kuwait 0.28 (3.4) 59,687.2 30.8
Mannai Corp Qatar 85.00 (3.4) 0.2 4.9
ADIB Abu Dhabi 4.50 (2.4) 967.1 41.5
Gulf Cable & Electrical Kuwait 1.04 (1.9) 132.4 (17.5)
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%
Mannai Corp 85.00 (3.4) 0.2 4.9
Qatar Islamic Insurance 58.00 (2.2) 20.3 (6.5)
Islamic Holding Group 41.00 (2.0) 189.5 7.9
Al Khaleej Takaful Group 40.50 (1.5) 4.1 10.4
Al Meera Consumer Goods Co. 140.00 (1.4) 120.2 14.4
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
United Development Co. 21.50 (0.9) 51,582.8 20.8
Qatar German Co. for Med. Dev. 14.70 0.7 48,134.1 (0.5)
Qatar Meat & Livestock Co. 63.20 2.6 38,843.1 7.5
Masraf Al Rayan 27.25 1.9 38,015.8 9.9
Industries Qatar 166.70 0.0 34,979.5 18.2
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* 9,238.00 0.9 2.1 6.5 10.5 128.49 140,039.3 11.7 1.7 5.0
Dubai 2,366.79 1.2 2.7 10.8 45.9 240.68 64,780.9 15.2 1.0 3.6
Abu Dhabi 3,562.88 1.0 3.0 8.8 35.4 139.11 104,140.4 10.9 1.3 4.9
Saudi Arabia 7,435.19 0.4 0.4 0.4 9.3 1,446.25 399,752.6 15.8 1.9 3.7
Kuwait 8,300.51 (1.3) 1.8 11.7 39.9 433.55 112,676.7 25.4 1.4 3.2
Oman 6,417.83 0.2 0.8 4.7 11.4 31.18 22,603.4 11.1 1.7 4.3
Bahrain 1,196.46 1.2 2.2 8.4 12.3 2.02 21,269.7 8.7 0.8 4.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,140
9,160
9,180
9,200
9,220
9,240
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 QE index rose 0.9% to close at 9,238.0. The Banking &
Financial Services and Transportation indices led the gains. The
index rose on the back of buying support from non-Qatari
shareholders despite selling pressure from Qatari shareholders.
 Gulf International Services and Qatar Meat & Livestock Co. were
the top gainers, rising 4.2% and 2.6% respectively. Among the
top losers, Mannai Corp fell 3.4%, while Qatar Islamic Insurance
declined 2.2%.
 Volume of shares traded on Thursday declined by 15.2% to
14.2mn from 16.7mn on Wednesday. However, as compared to
the 30-day moving average of 9.5mn, volume for the day was
49.7% higher. Qatar German Co. for Med. Dev. and United
Development Co. were the most active stocks, contributing
22.9% and 16.9% to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Earnings Releases
Company Market Currency
Revenue
(mn) 1Q2013
% Change
YoY
Operating Profit
(mn) 1Q2013
% Change
YoY
Net Profit (mn)
1Q2013
% Change
YoY
Oman Investment & Finance
Co. (OIFC)*
Oman OMR 11.1 -0.6% – – 9.2 163.4%
Source: Company data, Tadawul , DFM, ADX (*Financial results for the year ended March 31, 2013 )
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
05/30 US BEA GDP QoQ (Annualized) 1Q2013 2.40% 2.50% 2.40%
05/30 US BEA GDP Price Index 1Q2013 1.10% 1.20% 1.10%
05/30 US Department of Labor Initial Jobless Claims 25-May 354K 340K 344K
05/30 US Department of Labor Continuing Claims 18-May 2986K 2955K 2923K
05/30 US Bloomberg Bloomberg Consumer Comfort 26-May -29.7 – -29.4
05/30 US Nat. Assoc. of Realtors Pending Home Sales MoM April 0.30% 1.50% 1.50%
05/30 US Nat. Assoc. of Realtors Pending Home Sales YoY April 13.90% 12.80% 5.90%
05/31 US BEA PCE Core (MoM) April 0.00% 0.10% 0.10%
05/31 US BEA PCE Core (YoY) April 1.10% 1.00% 1.20%
05/30 EU Eurostat Euro-Zone Economic Confidence May 89.4 89.4 88.6
05/30 EU Eurostat Business Climate Indicator May -0.76 -0.85 -1.04
05/31 EU Eurostat Euro-Zone CPI Estimate (YoY) May 1.40% 1.40% 1.20%
05/31 EU Eurostat Euro-Zone Unemployment Rate April 12.20% 12.20% 12.10%
05/31 EU Eurostat Euro-Zone CPI - Core (YoY) May 1.20% 1.10% 1.00%
05/31 France INSEE Producer Prices (MoM) April -0.90% -0.30% 0.00%
05/31 France INSEE Producer Prices (YoY) April 0.60% 1.60% 1.60%
05/31 France INSEE Consumer Spending (MoM) April -0.30% -0.60% 1.30%
05/31 France INSEE Consumer Spending (YoY) April 0.20% 0.00% 1.10%
05/31 Germany Destasis Retail Sales (MoM) April -0.40% 0.20% -0.10%
05/31 Germany Destasis Retail Sales (YoY) April 1.80% 1.10% -2.50%
05/30 UK Lloyds Lloyds Business Barometer May 39 – 27
05/31 UK GfK GfK Consumer Confidence Survey May -22 -26 -27
05/30 Spain INE Consumer Price Index (YoY) May 1.70% 1.60% 1.40%
05/31 Japan Markit/Nomura Markit/JMMA Manufacturing PMI May 51.5 – 51.1
05/31 Japan
Ministry of Internal
Affairs & Communication
Natl. CPI YoY April -0.70% -0.70% -0.90%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Doha rail project contracts awarded – Qatar Railways
Company has awarded construction contracts valued QR20bn
to build the 216 kilometer long Doha Metro linking Doha city
center with many of the World Cup stadiums. QDVC, South
Korean GS Engineering & Construction and local company
Darwish Engineering have obtained a QR8bn contract to build
the 12 kilometer long Red Line South (underground sections)
between Doha city center and the airport. Austrian company
Porr, Saudi Binladin Group and local HBK Contracting Company
has been awarded a second QR8bn contract to build the 15
kilometer long (underground sections) Green Line, which runs
north-south through the city. Moreover, South Korea's Samsung
C&T, Spanish construction firm OHL and Qatar Building
Overall Activity Buy %* Sell %* Net (QR)
Qatari 66.42% 67.83% (6,539,406.09)
Non-Qatari 33.58% 32.18% 6,539,406.09

3. Page 3 of 6
Company have got a QR4bn contract to build the two major
stations at Msheireb and Education City. (GulfBase.com)
 QMLS plans QR450mn poultry project in Qatar – Widam
Food (QMLS) seeks funding for a QR450mn project to raise
poultry as the company ventures into new foods. QMLS
Managing Director Ahmad Nasser Sariya Al-Kaabi said the
company is awaiting a government license to build a plant that
will produce 22mn chickens a year to be sold in the domestic
market. (Bloomberg)
 QPI plans to raise stake in Qatar Vinyl – Qatar Petroleum
International (QPI) is set to increase its stake in petrochemicals
producer, Qatar Vinyl Company to 82% from the current 55%.
(Bloomberg)
 QFB’s 2012 net income up 21% YoY – Qatar First Bank’s
(QFB) net income rose by 21% YoY to reach QR113.2mn in
2012. QFB’s AGM has approved the distribution of a cash
dividend of 7% of paid-up share capital to its shareholders for
2012. (Gulf-Times.com)
 Barwa inks deals for Commercial Avenue, Barwa City at
Cityscape – Barwa Real Estate Group, one of the leading
developers in Qatar, signed several deals for units in both
Barwa Commercial Avenue and Barwa City during the Cityscape
Qatar 2013 expo that concluded recently. The group signed
leasing contracts with Lulu Hypermarket, Tanween and Ansar
City companies. Under the agreement, Tanween will be able to
occupy six buildings in Barwa City, while Ansar City will be
occupying a showroom over an area of 27,000sqm in Barwa
Commercial Avenue. (Peninsula Qatar)
 QGTS to build 25 vessels per year, signs yacht JV with
Damen – The Qatar Gas Transport Company’s (QGTS)
Managing Director Mohamed Ghannam said the company will
build 25 LNG vessels per year in the near future, and hopes to
complete the sixth and final phase of the Erhama bin Jaber al
Jalahma Shipyard in Ras Laffan by 2015. He also said that the
company has signed a JV with the Dutch shipbuilder, Damen to
build a first-of-its-kind luxury yacht. (Gulf-Times.com) (Qatar
Tribune)
 QIMD has QR1.2bn investments in Arab countries – Qatar
Industrial Manufacturing Co. (QIMD) CEO Abdul Rahman Al
Ansari said that the company's investments in Qatar and a
number of Arab countries were worth QR1.2 billion. Speaking
about the company's activities, Al Ansari said that chemical
industries represented 49% of QIMD's investments, which was
followed by construction at 36%, and other industries such as
energy and plastic were worth 15%. He added that the company
is planning to expand its investments and has already
considered nine new projects. (Bloomberg)
 DHBK plans Hong Kong office, to acquire licenses in India
and Saudi Arabia – Doha Bank (DHBK) is planning to open an
office in Hong Kong, and is seeking to acquire licenses in India
and Saudi Arabia to broaden their reach. (GulfBase.com)
 Thomson Reuters launches legal research service in Qatar
– Thomson Reuters in association with Qatar’s Ministry of
Justice has announced the launch of its leading legal research
service, Westlaw Gulf Qatar. The service will be a one-stop
source of comprehensive legal information for lawyers, advisers
and international investors which will be made available in
English. (Gulf-Times.com)
 QIA to acquire luxury chain in Dallas – The Qatar Investment
Authority (QIA) is in negotiations to buy a Dallas-based luxury
chain, Neiman. QIA may spend around $6bn for the parent of
the Bergdorf Goodman store on Fifth Avenue. (Qatar Tribune)
 German delegation to explore investments in Qatar
healthcare sector – A delegation of 20 German companies has
arrived in Qatar to explore investment opportunities and
showcase their products targeting Qatar’s healthcare sector.
(Gulf-Times.com)
 Ashghal to set up National Health Laboratories – The Public
Works Authority (Ashghal) is in the process of setting up
National Health Laboratories in Qatar. (Qatar Tribune)
International
 Barack Obama: US economy starting to pick up steam – US
President Barack Obama said the American economy is starting
to pick up steam with the creation of some 7mn jobs in the past
38 months. (ET)
 OPEC keeps output target unchanged; content with $100
price – The Organization of Petroleum Exporting Countries
(OPEC) has kept its production target unchanged for a third
consecutive time, signaling that crude oil prices at about $100 a
barrel are sufficient to buoy members’ revenue as the global
economy recovers. Meanwhile, according to the data released
by Bloomberg, OPEC production in May increased by 98,000
barrels a day over April to 31mn barrels a day. (Bloomberg)
 OPEC to study US shale oil bonanza as export concern
grows – The Organization of Petroleum Exporting Countries
(OPEC) has signaled growing unease with the US oil boom by
starting a study into its shale. (Bloomberg)
 IMF releases €1.7bn to Greece – The International Monetary
Fund (IMF) has released €1.7bn in fresh funds for Greece after
the country passed the third review of its performance under the
joint IMF-EU bailout program. Greece has also received a vote
of confidence from international creditors over progress in
overhauling its stricken economy. Moreover, the European
Financial Stability Facility has also released another aid
installment, worth €7.2bn, to help recapitalize Greece's stricken
banks. The IMF said that Greece now needs to focus on
improving tax collection. (Bloomberg)
 Abe offers $32bn to Africa as Japan seeks resources –
Japanese Prime Minister Shinzo Abe has pledged $32bn to
Africa as his government seeks to catch up with China in
pursuing resources, markets and influence on the continent.
(Bloomberg)
Regional
 JETRO: GCC-Japan trade touches $182.1bn in 2012 –
According to the data released by the Japan External Trade
Organization (JETRO), the value of two-way trade between
Japan and the GCC countries grew by 12.3% in 2012 to reach
$182.1bn, over $162.2bn in 2011. Moreover, Japan's exports to
the GCC region grew 27.1% YoY to $24.9bn from $19.6bn and
imports grew 10.2% YoY to $157.2bn from $142.6bn in 2011.
(Bloomberg)
 Egypt roadshow for infrastructure sukuk to start next week
– Egypt is set to begin its marketing of sukuk bonds next week,
through which it hopes to finance 10 large electricity, transport,
supply and industry projects. The roadshow will cover the UAE,
Saudi Arabia, Qatar, Bahrain, and Kuwait. (GulfBase.com)
 Saudi Arabia, Egypt sign SR6bn power deal – Saudi Arabia
and Egypt have signed a SR6bn agreement to link their
electricity grids, a project that will allow power trading between
the two countries. Linking the two countries will allow Saudi
Arabia to export power to Egypt. The Saudi Electricity Company

4. Page 4 of 6
and Egyptian Electric Holding Company will share the cost of
the 3,000MW undersea transmission cable. (Bloomberg)
 Saudi private sector to be coaxed to fix housing woes –
Saudi Housing Minister Shwaish Al-Dowaihy said the ministry is
working on the regulatory framework for public-private
partnerships (PPP) and creating an incentive package for the
country’s private sector to fix housing woes. He said that the
Saudi Housing Ministry is expected to hand over the
responsibility to the private sector for building homes in the first
phase of its $70bn housing program. (GulfBase.com)
 New Jeddah airport to be ready in 2015 – Makkah Governor
Prince Khaled Al-Faisal said expansion works on King Abdulaziz
International Airport (KAIA) are 45% complete and expects the
airport to begin operations in 2015. Prince Khaled also said that
SR27bn was allocated for the first phase of the project that will
accommodate 30mn passengers. (GulfBase.com)
 Zamil AC gets SR203mn contract for Ras Al-Khair power
plant – Zamil Air Conditioning & Refrigeration Services
Company (Zamil AC) has obtained a new contract valued
SR203mn from SEPCO Electric Power Construction Corporation
to provide EPC services of HVAC-related works for the Ras Al-
Khair power plant project, which is owned by the Saline Water
Conversion Corp. The duration of the contract is 30 months and
is expected to be completed by 4Q2015. The company expects
the contract to have a positive impact on the company's
financials at the end of each stage during 2014 and 2015.
(Tadawul)
 Saudi Aramco awards contract extension to WorelyParsons
– Saudi Arabian Oil Company (Saudi Aramco) has granted a
two-year contract extension to WorelyParsons for maintaining &
managing its ongoing programs. The contract covers a portfolio
of offshore greenfield and brownfield projects, which includes a
full suite of engineering and project management services.
(GulfBase.com)
 KHC sells KHI interest in Mövenpick Mauritius, opens
$137mn Raffles Seychelles – Kingdom Hotel Investments
(KHI), a wholly owned subsidiary of Kingdom Holding Company
(KHC) has sold its interest in the Mövenpick Resort & Spa
Mauritius for SR150mn to Hawaii-based Outrigger Hotels &
Resorts. Further, KHC Chairman Prince Alwaleed bin Talal
announced that the company has opened “The Raffles
Seychelles Resort & Residences” worth $137mn on the
northeast tip of Praslin Island in Seychelles. (Tadawul)
(GulfBase.com)
 ACE Arabia signs agreement with Total Care Saudi – ACE
Arabia Cooperative Insurance Company has signed a one-year
agreement with Total Care Saudi Third Party Administrator to
provide insurance claims management services for the
cooperative health insurance provided by the company. These
services cover medical approvals, contracting with service
providers' network, reporting & monitoring tools of the insurance
portfolio and a customer service center as well. (Tadawul)
 Aljazira Takaful Taawuni adds IPO shares to investor’s
portfolio – The Saudi Stock Exchange has announced that the
IPO shares of Aljazira Takaful Taawuni Company has been
deposited into respective investors’ portfolio. (Tadawul)
 UAE consumer credit reporting system rolls out in July – Al
Etihad Credit Bureau is all set to roll out the Phase one of the
UAE’s credit reporting system from July 2013. The first phase
will see the credit bureau commence the collection of consumer
credit data from a pilot group of UAE financial institutions to
improve transparency in lending. Meanwhile, the bureau’s Vice-
Chairman Younis Al Khouri said the new credit bureau expects
borrowing costs to fall by around 30% once its credit reporting
system is in full swing. (GulfBase.com)
 Jafza signs deal for investment between UAE and Korea –
Jebel Ali Free Zone (Jafza), Korea Exchange Bank, Hana Bank
and the Korea Federation of Small & Medium Business have
signed a MoU to increase bilateral investment between the UAE
and the Republic of South Korea. (GulfBase.com)
 DEWA to undertake more development projects – The Dubai
Electricity & Water Authority’s (DEWA) CEO Saeed Mohammed
Al Tayer said the authority will undertake several development
projects to strengthen the electricity and water infrastructure in
Dubai. (GulfBase.com)
 Etihad to increase flights; launches round-the-world
freighter service – Etihad Airways is planning to increase
frequencies on its services to Amman, Cairo, Islamabad and
Muscat from June 15, 2013. Apart from increasing frequencies,
Etihad Cargo has launched its first round-the-world freighter
route in conjunction with Atlas Air Worldwide. The jointly
operated route connects Etihad Cargo’s Abu Dhabi hub with
destinations in Asia, the US, South America and Europe.
(GulfBase.com)
 Etihad Airways to start daily Minsk service, signs code-
share deal with Belavia – Etihad Airways is set to increase its
Abu Dhabi-Minsk service from three flights per week to a daily
schedule from June 15, 2013. Etihad Airways will also offer
onward connections from Minsk to the cities of Kiev, Moscow
and St Petersburg through a new code-share agreement with
Belarus-based Belavia Airline. (GulfBase.com)
 Air Arabia, CFM celebrate 1mn flight hour milestone – Air
Arabia and CFM International celebrated their achievement of
one million engine flight hours with the airline's fleet of CFM56-
5B engines. (GulfBase.com)
 MAF debt sale for Carrefour stake this week – Carrefour’s
stake buyer in its Middle East JV, Majid Al Futtaim Holding
(MAF) is said to sell its debt this week after delaying a planned
offering last week due to soaring lending costs. (GulfBase.com)
 Takaful-Emarat’s board recommends capital increase –
Takaful Emarat's board of directors has recommended to its
shareholders an increase in the company’s paid up capital by
AED35mn to strengthen the financial situation. (DFM)
 ENOC reduces diesel price by 20 fils – Emirates National Oil
Company (ENOC) has reduced the retail price of diesel by 20
fils per liter across all its ENOC/EPPCO service stations. (AME
Info)
 TAQA buys BP energy assets for $1.1bn – Abu Dhabi
National Energy Company (TAQA) has completed the
acquisition of UK North Sea oil & gas assets worth $1.1bn from
British Petroleum (BP), which will help add 20,000 barrels of oil
equivalent per day to its present output. (GulfBase.com)
 NBAD registers to sell Samurai bonds – The National Bank of
Abu Dhabi (NBAD) has registered with Japan’s Finance Ministry
to sell up to 150bn yen of Samurai bonds. This registration takes
effect from June 8, 2013 and is valid for two years. (Bloomberg)
 NBAD becomes custody services provider at Nasdaq Dubai
– The National Bank of Abu Dhabi has become a direct
custodian for Nasdaq Dubai. (GulfBase.com)
 Clifford Chance advises banks on Al Noor's plans to raise
$150mn – Clifford Chance is advising the joint sponsors, joint
global coordinators and joint book-runners on the proposed IPO
of Al Noor Hospitals Group. This IPO intends to raise gross

5. Page 5 of 6
proceeds of $150mn and is expected to have a free float of 30-
45%. (GulfBase.com)
 ATIC to invest AED17.5mn in research – The Advanced
Technology Investment Company (ATIC) has announced that it
will dedicate AED17.5mn over the next three years to ATIC-SRC
Centre of Excellence for Energy Efficient Electronic Systems
(ACE4S), a JV research project in Abu Dhabi aimed at creating
self-powered devices that are energy efficient. (Bloomberg)
 Burgan Bank gets approval for stake buy in Maltese bank –
The Kuwait Projects Company’s subsidiary, Burgan Bank said
that it received regulatory approval to buy a 25% stake in
Malta's Fimbank. (GulfBase.com)
 KFH commences capital increase subscription – Kuwait
Finance House (KFH) has commenced the first phase of the
subscription process to increase capital that will take place over
a period of two weeks, starting June 5, 2013. KFH has offered
639mn shares to shareholders, which will increase the capital by
KD64mn (20%) to KD383mn, which will support its global
expansion plans. (AME Info)
 Jazeera Airways takes delivery of new Airbus A320 –
Jazeera Airways Group has taken delivery of a brand new
Airbus A320 aircraft, bringing the total number of its fleet to 13.
(AME Info)
 FASTtelco wins KD500,000 contract – Kuwaiti internet service
provider FASTtelco has obtained a KD500,000 bid offered by
Qurain international Real Estate Company to convert “The Gate
Mall” into a smart and integrated building. This involves
connecting all the building’s vital systems such as fire alarms,
security, CCTV systems by installing high-tech integrated
solutions and infrastructure. (GulfBase.com)
 Oman awards tenders worth OMR39.7m for projects –
Oman’s Tender Board has awarded tenders worth OMR39.7mn
for various infrastructure projects in the country. (Bloomberg)
 Al Fajar Al Alamia acquires 99% share capital of Al Musdaq
Modern Trading – Al Fajar Al Alamia Company has acquired
99% share capital of Al Musdaq Modern Trading with 1% being
held by the Chairman Saleem Al Zawawi. The total value of the
acquisition stood at OMR2.7mn. The financials of Al Musdaq
Modern Trading will be consolidated for the period January to
June 2013, which will be reflected in the consolidated accounts
of Al Fajar Al Alamia Company as of June 30, 2013. (MSM)
 OIFC’s BoD recommends 12% cash dividend – Oman
Investment & Finance Company’s (OIFC) board of directors has
recommended distributing a cash dividend of 12% (12 baisa per
share) to its shareholders, amounting to OMR1.7mn and a stock
dividend of 4.3 shares for every 10 shares held for the year
ended March 31, 2013. (MSM)
 JETRO: Japan-Bahrain trade up 7.3% YoY – According to a
report released by the Japan External Trade Organization
(JETRO), the value of Japan's trade with Bahrain increased
7.3% YoY to $1.3bn in 2012. (GulfBase.com)
 UGB to acquire 44% stake in FIMBANK – The Kuwait Projects
Company’s subsidiary, United Gulf Bank (UGB) has received
regulatory approval from the Central Bank of Bahrain and the
Malta Financial Services Authority to acquire up to a 43.7%
stake in FIMBANK. UGB expects the investment may reach up
to $125mn over a period of time. (Bahrain Bourse)
 Bahrain’s MoW to spend BHD1.5bn on sanitary projects –
The Bahrain Ministry of Works (MoW) is set to spend BHD1.5bn
in the sanitary sector until 2030, mainly for the construction of
treatment plants, transfer networks, internal networks and for
their operation and maintenance. (GulfBase.com)

6. Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@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
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
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views and opinions included in this report.
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Page 6 of 6
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
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
QE Index S&P Pan Arab S&P GCC
0.4%
0.9%
(1.3%)
1.2%
0.2%
1.0%
1.2%
(1.8%)
(1.2%)
(0.6%)
0.0%
0.6%
1.2%
1.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,387.92 (1.9) 0.1 (17.2) DJ Industrial 15,115.57 (1.4) (1.2) 15.3
Silver 22.26 (2.3) (0.6) (26.7) S&P 500 1,630.74 (1.4) (1.1) 14.3
Crude Oil (Brent) 100.05 (1.9) (2.2) (11.3) NASDAQ 100 3,455.91 (1.0) (0.1) 14.5
Euro 1.30 (0.4) 0.5 (1.5) DAX 8,348.84 (0.6) 0.5 9.7
Yen 100.45 (0.3) (0.8) 15.8 FTSE 100 6,583.09 (1.1) (1.1) 11.6
GBP 1.52 (0.2) 0.5 (6.5) CAC 40 3,948.59 (1.2) (0.2) 8.4
CHF 1.05 (0.2) 0.6 (4.2) Nikkei 13,774.54 1.4 (5.7) 32.5
AUD 0.96 (0.9) (0.8) (7.9) Shanghai 2,300.60 (0.7) 0.5 1.4
USD Index 83.38 0.4 (0.4) 4.5 BSE Sensex 19,760.30 (2.3) 0.3 1.7
RUB 31.88 0.5 1.6 4.4 Bovespa 53,506.08 (2.1) (5.1) (12.2)
BRL 0.47 (1.4) (4.2) (4.2) RTS 1,331.43 (1.4) (4.1) (12.8)
135.5
119.8
109.5