1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.2% to close at 9,398.2. Losses were led by the
Telecoms and Banking & Financial Services indices, declining 1.1% and 0.5%
respectively. Top losers were Ooredoo and Qatar Islamic Bank, falling 1.3%
and 0.9% respectively. Among the top gainers, Mannai Corp rose 3.4%, while
Dlala Brok. & Inv. Holding Co. gained 1.5%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.7% to close at 7,744.2. Gains were led
by the Real Estate Development and Agriculture & Food Industries indices,
rising 3.1% and 1.7% respectively. Jabal Omar Development Co. gained 6.8%,
while Knowledge Economic City was up 4.2%.
Dubai: The DFM index gained 2.0% to close at 2,440.0. The Investment &
Financial Services index rose 5.3%, while the Real Estate & Construction
index was up 2.7%. Dubai Investment gained 7.1%, while Union Properties
was up 5.2%.
Abu Dhabi: The ADX benchmark index rose 0.9% to close at 3,738.0. The
Real Estate index gained 2.0%, while the Telecommunication index was up
1.8%. Insurance House surged 14.4%, while Commercial Bank International
was up 7.6%.
Kuwait: The KSE index gained marginally to close at 7,883.2. Gains were led
by the Banking and Oil & Gas indices, gaining 1.1% and 1.0% respectively.
Union Real Estate Co. rose 7.8%, while Al-Mazaya Holding Co. was up 6.7%.
Oman: The MSM index rose 0.4% to close at 6,517.5. The Banking &
Investment index gained 0.7%, while the Services & Insurance index was up
0.2%. Al Anwar Holding rose 4.9%, while Oman United Ins. was up 3.3%.
Qatar Exchange Top Gainers Close* 1D% Vol. „000 YTD%
Mannai Corp 88.90 3.4 0.1 9.8
Dlala Brok. & Inv. Holding Co. 27.55 1.5 64.7 (11.4)
Industries Qatar 162.60 0.7 128.6 15.3
Gulf International Services 42.15 0.7 85.5 40.5
Medicare Group 43.00 0.7 4.1 20.4
Qatar Exchange Top Vol. Trades Close* 1D% Vol. „000 YTD%
United Development Co. 22.03 0.1 552.5 23.8
Doha Bank 47.75 (0.6) 429.2 3.0
Barwa Real Estate Co. 27.20 (0.5) 293.6 (0.9)
Qatar Insurance Co. 61.10 0.5 212.8 13.3
Vodafone Qatar 9.15 0.1 208.4 9.6
Market Indicators 14 July 13 11 July 13 %Chg.
Value Traded (QR mn) 126.4 197.5 (36.0)
Exch. Market Cap. (QR mn) 516,394.8 517,399.3 (0.2)
Volume (mn) 3.2 5.2 (38.7)
Number of Transactions 1,859 2,462 (24.5)
Companies Traded 38 40 (5.0)
Market Breadth 15:16 26:12 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,427.86 (0.2) (0.2) 18.7 N/A
All Share Index 2,377.69 (0.1) (0.1) 18.0 12.8
Banks 2,263.67 (0.5) (0.5) 16.1 11.9
Industrials 3,148.85 0.6 0.6 19.9 11.7
Transportation 1,677.23 0.1 0.1 25.1 11.9
Real Estate 1,839.84 (0.2) (0.2) 14.2 11.8
Insurance 2,231.67 0.3 0.3 13.7 15.6
Telecoms 1,313.43 (1.1) (1.1) 23.3 15.0
Consumer 5,525.67 0.2 0.2 18.3 22.5
Al Rayan Islamic Index 2,816.56 (0.0) (0.0) 13.2 14.0
GCC Top Gainers##
Exchange Close#
1D% Vol. „000 YTD%
Albaraka Group Bahrain 0.75 7.9 6.0 0.7
Dubai Investments Dubai 1.67 7.1 78,488.8 96.0
Jabal Omar Dev. Co. Saudi Arabia 33.00 6.8 20,250.6 73.7
Knowledge Eco. City Saudi Arabia 14.85 4.2 8,937.8 17.9
Arabtec Holding Co. Dubai 2.25 4.2 35,269.2 21.0
GCC Top Losers##
Exchange Close#
1D% Vol. „000 YTD%
Arab Banking Corp Bahrain 0.32 (8.6) 100.0 (30.4)
Comm. Facilities Co. Kuwait 0.30 (4.8) 1.0 (14.5)
Sharjah Islamic Bank Abu Dhabi 1.47 (3.9) 310.0 59.8
United Real Estate Co. Kuwait 0.11 (1.8) 32.0 (8.3)
Boubyan Petrochem. Kuwait 0.60 (1.6) 11.3 3.4
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%
Ooredoo 125.10 (1.3) 54.1 20.3
Qatar Islamic Bank 68.30 (0.9) 19.0 (8.9)
Qatar Islamic Insurance 60.40 (0.8) 0.6 (2.6)
National Leasing 36.65 (0.8) 48.0 (18.9)
QNB Group 160.20 (0.8) 32.3 22.4
Qatar Exchange Top Val. Trades Close* 1D% Val. „000 YTD%
Industries Qatar 162.60 0.7 20,854.6 15.3
Doha Bank 47.75 (0.6) 20,520.8 3.0
Qatar Insurance Co. 61.10 0.5 12,981.0 13.3
United Development Co. 22.03 0.1 12,165.2 23.8
Barwa Real Estate Co. 27.20 (0.5) 8,018.5 (0.9)
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* 9,398.19 (0.2) (0.2) 1.3 12.4 34.70 141,802.0 11.8 1.7 4.9
Dubai 2,439.99 2.0 2.0 9.8 50.4 171.78 61,722.8 15.7 1.0 3.3
Abu Dhabi 3,737.96 0.9 0.9 5.3 42.1 64.69 107,454.9 11.2 1.4 4.7
Saudi Arabia 7,744.16 0.7 0.7 3.3 13.9 1,161.51 412,558.6 16.3 2.0 3.6
Kuwait 7,883.15 0.0 0.0 1.4 32.8 70.78 108,680.2 21.8 1.2 3.6
Oman 6,517.54 0.4 0.4 2.8 13.1 14.56 22,691.8 10.7 1.7 4.2
Bahrain 1,185.39 (0.4) (0.4) (0.2) 11.2 0.70 21,184.9 8.6 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)
9,390
9,400
9,410
9,420
9,430
9,440
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 declined 0.2% to close at 9,398.2. The Telecoms
and Banking & Financial Services indices led the losses. The
index declined on the back of selling pressure from Qatari
shareholders despite buying support from non-Qatari
shareholders.
 Ooredoo and Qatar Islamic Bank were the top losers, falling
1.3% and 0.9% respectively. Among the top gainers, Mannai
Corp rose 3.4%, while Dlala Brok. & Inv. Holding Co. gained
1.5%.
 Volume of shares traded on Sunday declined by 38.7% to 3.2mn
from 5.2mn on Thursday. Further, as compared to the 30-day
moving average of 9.5mn, volume for the day was 66.6% lower.
United Development Co. and Doha Bank were the most active
stocks, contributing 17.5% and 13.6% to the total volume
respectively.
Source: Qatar Exchange (* as a % of traded value)
Earnings
Earnings Releases
Company Market Currency
Revenue
(mn) 2Q2013
% Change
YoY
Operating Profit
(mn) 2Q2013
% Change
YoY
Net Profit (mn)
2Q2013
% Change
YoY
Saudi Arabia Fertilizers Co.
(SAFCO)
Saudi Arabia SR – – 633.0 -12.8% 693.0 -11.6%
Yanbu National
Petrochemical Co.
(YANSAB)
Saudi Arabia SR – – 756.2 -1.1% 670.5 3.2%
Saudi Arabian Amiantit Co.
(Amiantit)
Saudi Arabia SR – – 72.8 -2.6% 30.7 0.9%
Saudi Industrial Export Co.
(SIECO)
Saudi Arabia SR – – 2.4 293.4% 2.2 331.4%
Methanol Chemicals Co.
(CHEMANOL)
Saudi Arabia SR – – 9.7 -74.2% 0.04 -99.8%
Gulf Investment Services
Holding (GIS)*
Oman OMR – – – – 2.1 458.9%
Source: Company data, Tadawul, (*1H2013 Results)
News
Qatar
 ABQK reports QR135.7mn net profit in 2Q2013 – Al Ahli Bank
(ABQK) has reported a net profit of QR135.7mn in 2Q2013,
reflecting an increase of 10.7% YoY (+0.5% QoQ). The bank’s
net profit rose by 12.4% YoY in 1H2013 to QR270.7mn. ABQK’s
net interest income increased by 30.7% YoY (+6.5% QoQ) to
QR166.5mn in 2Q2013, while in 1H2013, it rose by 27.1% YoY
to QR322.8mn. EPS stood at QR2.13 in 1H2013 as compared
to QR2.02 in 1H2012. Total assets at the end of June 2013
stood at QR24.7bn over QR20.6bn in December 2012. Loans &
advances rose by 13.1% YTD to QR15.9bn, while customer
deposits were up by 25.5% YTD to QR17.5bn. (QE)
 S&P: Qatar in net external creditor position of around $50bn
– According to a report by the ratings agency S&P, Qatar is in a
“net external creditor” position of about $50bn despite the
country’s total external debt rising steadily in recent years. S&P
said Qatar’s total external debt was estimated at $166bn in
2012. However, this debt is more than offset by the external
assets accumulated by the Qatar Investment Authority. S&P has
associated Qatar’s current account balance and external debt
position with limited vulnerability as the country has posted
extremely strong current account surpluses fuelled by
hydrocarbon exports. S&P also expects the trade surplus to
remain strong in 2013 due to high oil & gas prices, which will
more than compensate the expected higher debt service from
rising gross external debt. Moreover, S&P said it considers
Qatar’s economy to be in an expansionary phase with a real
GDP growth of 6% in 2012. Credit growth in the banking sector
has been exceptionally strong over the past five years, growing
at 30% in 2011 and 21% in 2012. This growth was mainly driven
by borrowing by government and quasi-government institutions,
which rose by 45% and 47% in 2011 and 2012 respectively.
(Gulf-Times.com)
 S&P: Exposure of real estate, aggressive expansion plans
“weaknesses” of Qatar‟s banking sector – According to a
report by S&P, severe exposure to real estate market and
aggressive expansion plans are the key weaknesses for Qatar’s
banking sector, despite its high stability and strong profitability.
S&P expects the country’s real estate market to recover from its
sharp decline since 2009, but the commercial segment remains
more vulnerable than the housing segment. S&P said this is one
of the main risks faced by Qatari banking sector given its high
concentration on lending to cyclical sectors such as real estate
& construction. S&P also said that lending concentration in the
real estate & construction sectors is high at 20% of total loans at
year-end 2012. In addition, foreign currency lending has recently
increased dramatically and accounted for 51% of total loans at
the end of 2012. However, the ratings agency said economic
risks for the Qatari banking sector remain average in a global
comparison. (Peninsula Qatar)
 BRES‟ subsidiary wins QR61mn ruling against two Bahraini
firms – Barwa Real Estate Company’s (BRES) subsidiary,
Barwa International has won a ruling worth QR61mn in the
Bahrain Chamber of Dispute Resolution (BCDR) against the
Bahraini companies: Inovest and Al Khaleeji Development
Company. BRES has now obtained the attachment order from
the Bahraini courts and will present it to the Central Bank of
Bahrain (CBB) to instruct all banks in the country to freeze
accounts of the defendants to the amount of the judgment
awarded to BRES. In June 2012, BRES had filed a case in the
Overall Activity Buy %* Sell %* Net (QR)
Qatari 57.20% 76.85% (24,832,118.18)
Non-Qatari 42.80% 23.15% 24,832,118.18

3. Page 3 of 5
BCDR against an investment product promoted by Inovest in
2008, prior to Inovest obtaining an appropriate license from the
CBB. (Gulf-Times.com)
 QSRTC completes seismic data field testing – Qatar Shell
Research & Technology Centre (QSRTC) has successfully
completed the field testing of a new fiber-optic seismic system in
the country as part of a major R&D program. This system is
designed to provide a cost effective method to deliver more
accurate and higher quality seismic data for oil exploration and
permanent production monitoring. (Gulf-Times.com)
 Ooredoo‟s trading ticker changes to “ORDS” – Ooredoo’s
ticker has been changed to “ORDS” from QTEL with immediate
effect on all the exchanges subsequent to its name change from
Qatar Telecom. Ooredoo will now trade as “ORDS” on the Qatar
Exchange, the Abu Dhabi Securities Exchange, and the London
Stock Exchange. (Peninsula Qatar)
 CBQK to disclose its 1H2013 financials on July 23 – The
Commercial Bank of Qatar (CBQK) will disclose its reviewed
financial results for the period ending June 30, 2013 on July 23,
2013. (QE)
 QFLS to disclose its semi-annual financials on July 28 –
The Qatar Fuel Company (QFLS) will disclose its reviewed
financial reports for the period ending June 30, 2013 on July 28,
2013. (QE)
 QEWS to declare its 1H2013 results on July 31 – Qatar
Electricity & Water Company (QEWS) is set to declare its
reviewed financial results for the period ending June 30, 2013
on July 31, 2013. (QE)
 QOIS to disclose its 1H2013 financials on July 30 – Qatar
Oman Investment Company (QOIS) will disclose its reviewed
financial results for the period ending June 30, 2013 on July 30,
2013. (QE)
 QGRI to declare its semi-annual results on July 28 – Qatar
General Insurance & Reinsurance Company (QGRI) will
disclose its reviewed financial results for the period ending June
30, 2013 on July 28, 2013. (QE)
 UDCD to disclose its 1H2013 financials on July 30 – The
United Development Company (UDCD) will disclose its reviewed
financial results for the period ending June 30, 2013 on July 30,
2013. (QE)
 AKHI to declare its 1H2013 results on July 29 – Al Khaleej
Takaful Group (AKHI) will disclose its reviewed financial results
for the period ending June 30, 2013 on July 29, 2013. (QE)
International
 Hollande points to French economic recovery, urges
optimism – French President Francois Hollande in his efforts to
fight deepening pessimism said the French economy is
recovering steadily. He urged his countrymen to be more
positive, highlighting positive factors such as a slight rebound in
industrial output data, a bump in consumer spending and an
improved growth forecast from the central bank for 2Q2013.
(Reuters)
 Spanish EM: Spain out of recession, must nurture recovery
– Spain's Economy Minister Luis De Guindos said the country’s
economy will grow in 2H2013, but the government must
implement reforms and cut the deficit at the right pace to keep
the recovery going. The Spanish economy entered into a
recession at the end of 2011. However, after shrinking 0.5% in
1Q2013, the government expects growth in 2Q2013 to be closer
to zero. (Reuters)
 China's GDP growth slows to 7.5% – GDP growth in China
declined in 2Q2013 to 7.5% YoY as weak overseas demand
weighed down on output and investment. Other figures showed
the country’s industrial output rising slightly less than forecast in
June as compared with a year earlier, but retail sales has
increased more than expected. China's statistics bureau said
the economy's performance in 1H2013 was stable overall and
the indicators were within a reasonable range. (Reuters)
 China to adjust liquidity, keep credit growth steady –
China's central bank, the People's Bank of China has pledged to
use a range of policy tools to adjust liquidity in the banking
system to ensure steady credit growth. In an apparent bid to
soothe market concerns about tighter monetary conditions, the
central bank said it will use a mix of price and quantitative policy
tools to adjust liquidity and guide steady growth in money, credit
and social financing. (Reuters)
Regional
 Saudi Arabia is Australia‟s largest meat export market in
MENA region – According to a report by the Meat & Livestock
Australia (MLA), Saudi Arabia has become Australia’s largest
meat export market, accounting for 30% of shipments to the
MENA region. The Kingdom is followed by the UAE at 25% and
Kuwait at 13% shipments. The report said significant growth in
beef exports was driven by a surge of shipments to Saudi Arabia
as Australian beef gained market share after Brazil was banned
from the market in late 2012. Exports to Saudi Arabia totaled
18,944 tons shipped weight in FY2012-13, up by four-fold YoY,
making Saudi Arabia Australia’s largest beef market in the
MENA region. The Brazilian ban in Saudi Arabia has, however,
increased competition in other beef markets in the region, with
increased quantities of Brazilian beef entering Jordan and the
UAE. Moreover, the report said that the MENA region continues
to grow as an important market for Australian red meat exports
with volumes reaching 160,963 tons shipped weight in FY2013,
an increase of 32% over FY2012. (GulfBase.com)
 Kingdom‟s real GDP growth slows to 2.1% in 1Q2013 –
According to the data released by the Central Department of
Statistics & Information (CDSI), growth in Saudi Arabia's GDP
(adjusted for inflation) slowed down to 2.13% in 1Q2013 from
6.5% in 1Q2012. The data showed that the headline figures
reflect a fall in Saudi crude oil output over the year, while growth
in the non-oil private sector also slowed to 4.31% from 5.18%.
CDSI also revised its 1Q2012 GDP growth figure to 6.5% from
the 8.3% growth announced in April. Meanwhile, analysts polled
by Reuters in April had forecasted that economic growth in the
Kingdom would slow down to 4.1% in 2013 from 6.8% in 2012.
(GulfBase.com)
 BMI: Saudi non-hydrocarbon sector to continue to fuel
overall – According to a report by the Business Monitor
International (BMI), Saudi Arabia's non-hydrocarbon sector will
continue to drive overall economic growth over the next few
quarters, helping to balance a steady decline in oil production.
The report said business activity in the private sector remains
supported by the government’s loose fiscal policy stance, easy
credit conditions and robust consumer confidence. The report
forecasted a real GDP growth of 4.1% in 2013, accelerating to
4.6% in 2014 on the back of a slight rebound in oil exports.
Further, inflation is expected to remain broadly subdued in 2013
on the back of declining rental costs and government
subsidization of food & fuel. The report noted that a prolonged
period of robust growth, coupled with loose fiscal and monetary
policies pose a medium-term inflation risk. The report also
forecasted that the Kingdom’s current account surplus will shrink
substantially in the years ahead, falling from 23.7% of GDP in

4. Page 4 of 5
2012 to 10.7% of GDP by 2016. However, with both global oil
prices and domestic hydrocarbon production expected to trend
downward, 2013 fiscal surplus will be lower than in previous
years at SR261.9bn (9.7% of GDP). (GulfBase.com)
 SSP gets SR250mn contracts for supplying OCTG pipes to
Saudi Aramco – Saudi Steel Pipe Company (SSP) has
obtained two contracts worth SR250mn for the supply of OCTG
steel pipes to the Saudi Arabian Oil Company (Saudi Aramco).
SSP said these pipes will be produced during the 2Q2014-
4Q2014 period. SSP expects the contract’s financial impact will
be positive during 2H2014. (Tadawul)
 Sipchem‟s affiliate signs EPC contract for debottlenecking
project – Saudi International Petrochemical Company’s
(Sipchem) affiliate, International Diol Company (IDC) has signed
an EPC contract with eTEC of South Korea to debottleneck and
improve the efficiency of its plant facilities. The cost of
constructing and licensing of the project is projected to be
SR393mn. The construction will begin from July 14, 2013 and is
targeted for completion during 4Q2014. (Tadawul)
 Mobily signs two agreements with Finnvera, EKN for
$325mn each – Etihad Etisalat Company (Mobily) has signed
two agreements with the Export Credit Agency of Finland
(Finnvera) and the Swedish Export Credits Guarantee Board
(EKN) for $325mn each (with no guarantees). The purpose of
this Shari’ah-compliant financing is to acquire network
equipment from Nokia Siemens Networks and Ericsson. The
total tenor of the facilities is 10 years, which will be utilized over
a period of 1.5 years. The loan will be repaid in 17 equal semi-
annual installments and has been priced at a fixed rate of 1.71%
per annum. (Tadawul)
 SADAFCO declares SR97.5mn dividend for FY2013 – Saudia
Dairy & Foodstuff Company’s (SADAFCO) AGM has approved
the distribution of SR97.5mn (SR3 per share) in dividends for
FY2013 to its shareholders who are registered on the Tadawul
on June 24, 2013. The dividends will be distributed on July 21,
2013. (Tadawul)
 Mashreq Bank expects 100% YoY rise in retail profit in 2013
– Mashreq Bank’s Retail Banking head Farhad Irani said the
bank expects a 100% YoY increase in its retail profit for 2013 on
the back of rapid increase in its customer base. Newly-launched
innovative products and others to be introduced shortly are
helping the bank expanding its customer base. (GulfBase.com)
 DEWA completes first phase of $67mn reservoir in Dubai –
Dubai Electricity & Water Authority (DEWA) has completed the
first phase of a $67mn water reservoir project in Dubai. The
reservoir’s capacity of 120mn gallons of desalinated water will
expand Dubai’s storage capacity to 790mn gallons, once
completed. (Bloomberg)
 UAE asks banks to disclose exposure to Turkey – The
UAE’s central bank has asked to the country’s lenders to
disclose their exposure to Turkey. (Bloomberg)
 Dubai Airport targets 75mn passengers by 2015 – Dubai
Airports Chairman Sheikh Ahmed bin Saeed Al Maktoum said
the Dubai International Airport will handle 75mn passengers by
2015, helping it leapfrog over London Heathrow Airport to
become the biggest & busiest airport in the world. (Bloomberg)
 Trade Centre Bridges project to be ready by November –
The Roads & Transport Authority’s (RTA) Chairman of the
Board Mattar Al Tayer said completion rate in the Trade Center
Bridges Project at Zaabeel has touched 90%. He added that the
project, which has a cost tag of AED719.4mn, is expected to be
opened in the second half of November 2013. (GulfBase.com)
 Hydra Properties completes first phase of Hydra Village –
Abu Dhabi-based developer Hydra Properties has completed
the phase one construction of its Hydra Village, located in Al
Shahama, Abu Dhabi. Hydra Properties has begun the
handover of 448 properties to homeowners and investors. (AME
Info)
 Kuwait sends $200mn oil to Egypt – Kuwait has sent two oil
tankers carrying crude oil and diesel worth $200mn to Egypt, as
part of a $4bn aid package pledged by the country. (Reuters)
 CBO: Oman‟s economy continues to grow on high oil
prices – According to the report published by the Central Bank
of Oman (CBO), the country’s economy has continued to grow
supported by high oil prices and expansionary fiscal policies.
The report showed the GDP at current prices surged by 11.6%
in 2012, with inflation well under control at 2.9% as compared to
4.1% in 2011. During January-April 2013, average inflation
stood lower at 2.1%, compared to 3.3% during January-April
2012. The report said that the Omani banking system continues
to remain sound, profitable and well-regulated, with the recent
emphasis on bank lending to SMEs, which has the potential to
help in diversifying the economy. Meanwhile, the total assets of
commercial banks increased by 9.5% to reach OMR21.9bn in
May 2013, as compared to OMR20.0bn a year ago. Credit
disbursements accounted for 66% of the total assets and
increased by 6.2% YoY to OMR14.49bn at the end of May 2013.
While credit to the government declined by 16.9%, credit to the
private sector and public enterprises, increased by 6.3% and
11.1% respectively. (GulfBase.com)
 CBO‟s weekly CD issue allotted OMR288mn – The Central
Bank of Oman’s (CBO) weekly issue of certificates of deposits
(CD) tender allotted OMR288mn to the subscribers. The
average interest rate of these certificates was 0.13%, while the
maximum accepted interest rate was also 0.13%. The tenor of
these certificates is 28 days, maturing by August 7, 2013.
(GulfBase.com)
 Bank Muscat reports net profit of OMR38.1mn in 2Q2013 –
Bank Muscat has reported a net profit of OMR38.1mn in
2Q2013. The bank has reported a net profit of OMR63.1mn in
1H2013, down from OMR68.4mn in 1H2012. Net impairments
for 1H2013 totaled at OMR17.5mn against OMR25.1mn in
1H2012. (Reuters)
 Renaissance sells Topaz to Interserve for OMR17.7mn –
Oman-based Renaissance Services has agreed to sell Topaz
Oil & Gas Ltd (Topaz) and its subsidiaries for OMR17.7mn to
UK-based Interserve, an international support services and
construction group. (MSM)
 EWA, Panorama sign BHD3.96mn pipeline deal – Bahrain’s
Electricity & Water Authority (EWA) has signed a water pipeline
contract worth BHD3.96mn with the Panorama Company,
funded by the Arab Fund for Economic & Social Development.
Under this contract, Panorama will extend the pipeline to
transport water from Al Dur pumping plant to Al Areen
distribution plant. EWA expects this contract to be completed by
1Q2014, which will enable it to transfer part of the production of
Al Dur Power & Water Plant to the southern and central areas of
the country. (GulfBase.com)

5. 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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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
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QE Index S&PPan Arab S&P GCC
0.7%
(0.2%)
0.0%
(0.4%)
0.4%
0.9%
2.0%
(0.7%)
0.0%
0.7%
1.4%
2.1%
2.8%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,285.70 0.0 0.0 (23.3) DJ Industrial 15,464.30 0.0 0.0 18.0
Silver/Ounce 19.94 0.0 0.0 (34.3) S&P 500 1,680.19 0.0 0.0 17.8
Crude Oil (Brent)/Barrel 109.45 0.0 0.0 (3.0) NASDAQ 100 3,600.08 0.0 0.0 19.2
Natural Gas (Henry
Hub)/MMBtu
3.61 0.0 0.0 6.4 STOXX 600 296.20 0.0 0.0 5.9
LPG Propane (Arab Gulf)/Ton 810.00 0.0 0.0 (16.4) DAX 8,212.77 0.0 0.0 7.9
LPG Butane (Arab Gulf)/Ton 807.00 0.0 0.0 (16.7) FTSE 100 6,544.94 0.0 0.0 11.0
Euro 1.31 0.0 0.0 (1.0) CAC 40 3,855.09 0.0 0.0 5.9
Yen 99.22 0.0 0.0 14.4 Nikkei 14,506.25 0.0 0.0 39.5
GBP 1.51 0.0 0.0 (7.1) MSCI EM 945.36 0.0 0.0 (10.4)
CHF 1.06 0.0 0.0 (3.3) SHANGHAI SE Composite 2,039.49 0.0 0.0 (10.1)
AUD 0.90 0.0 0.0 (12.9) HANG SENG 21,277.28 0.0 0.0 (6.1)
USD Index 82.99 0.0 0.0 4.0 BSE SENSEX 19,958.47 0.0 0.0 2.7
RUB 32.63 0.0 0.0 6.9 Bovespa 45,533.24 0.0 0.0 (25.3)
BRL 0.44 0.0 0.0 (9.5) RTS 1,348.81 0.0 0.0 (11.7)
135.0
121.6
110.5