1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 1.3% to close at 10,038.4. Gains were led by the Real
Estate and Transportation indices, gaining 1.9% and 1.8% respectively. Top
gainers were Qatar General Ins. & Rein. Co. and Medicare Group, rising 5.3%
and 3.2% respectively. Among the top losers, Qatar Cinema & Film Dist. Co.
fell 3.8%, while Zad Holding Co. declined 1.5%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.6% to close at 8,203.2. Gains were led
by the Transport and Cement indices, rising 3.5% and 2.1% respectively.
Aljazira Takaful Taawuni Co. gained 9.9%, while Nat. Shipping was up 5.7%.
Dubai: The DFM index gained 1.5% to close at 2,666.0. The Inv. & Fin.
Services index rose 2.4%, while the Real Estate & Construction index was up
1.6%. Gulf Gen. Inv. Co. surged 15.0%, while Arabtec Holding was up 4.1%.
Abu Dhabi: The ADX benchmark index rose 0.6% to close at 3,898.5. The
Real Estate index gained 2.2%, while the Energy index was up 1.7%.
Insurance House rose 11.1%, while Arkan Building Materials Co. was up 4.0%.
Kuwait: The KSE index declined marginally to close at 8,132.3. The
Consumer Ser. index fell 1.0%, while the Health Care index was down 0.8%.
Real Estate Asset Mgmt. declined 6.8%, while Refrigeration Ind. fell 5.1%.
Oman: The MSM index rose 0.8% to close at 6,898.9. Gains were led by the
Bank. & Inv. and Industrial indices, gaining 0.8% and 0.7% respectively. Gulf
Int. Chemicals rose 7.2%, while Al Omaniya Financial Ser. was up 5.6%.
Bahrain: The BHB index gained 0.1% to close at 1,202.7. The Services index
rose 1.9%, while the Insurance index was up 0.2%. Seef Properties gained
3.3%, while Bahrain Telecommunications Co. was up 2.9%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Rein. Co. 53.90 5.3 0.2 17.2
Medicare Group 50.90 3.2 141.5 42.6
National Leasing 35.80 3.0 228.4 (20.8)
Al Khaliji 17.60 2.9 702.2 3.6
Salam International Investment Co. 11.85 2.7 234.6 (6.4)
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Qatar Gas Transport Co. 21.00 2.6 2,955.5 37.6
Mazaya Qatar Real Estate Dev. 11.94 2.6 1,654.1 8.5
United Development Co. 22.99 0.8 956.6 29.2
Qatar Insurance Co. 61.50 (0.2) 944.3 14.0
Masraf Al Rayan 30.20 0.3 757.3 21.8
Market Indicators 19 Aug 13 18 Aug 13 %Chg.
Value Traded (QR mn) 400.2 220.5 81.5
Exch. Market Cap. (QR mn) 548,583.0 542,705.5 1.1
Volume (mn) 11.8 5.8 104.0
Number of Transactions 4,617 2,967 55.6
Companies Traded 42 38 10.5
Market Breadth 32:8 17:20 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 14,342.57 1.3 1.5 26.8 N/A
All Share Index 2,525.76 1.2 1.3 25.4 13.4
Banks 2,444.38 1.2 1.1 25.4 12.9
Industrials 3,217.17 1.1 1.2 22.5 11.9
Transportation 1,852.79 1.8 3.6 38.2 12.7
Real Estate 1,819.31 1.9 2.0 12.9 13.7
Insurance 2,304.41 1.2 0.4 17.4 9.5
Telecoms 1,495.60 1.5 1.8 40.4 15.8
Consumer 5,996.11 0.6 0.3 28.4 25.1
Al Rayan Islamic Index 2,874.45 1.0 1.6 15.5 15.0
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
National Shipping Co. Saudi Arabia 23.30 5.7 5,134.4 21.7
Qatar Gen. Ins. & Rein. Qatar 53.90 5.3 0.2 17.2
Combined Group Cont. Kuwait 1.24 5.1 18.4 (15.1)
Savola Group Saudi Arabia 57.75 5.0 1,522.4 44.4
City Cement Co. Saudi Arabia 26.50 4.7 1,009.0 53.6
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Ithmaar Bank Bahrain 0.26 (3.7) 1,050.0 52.9
Al Tayyar Travel Saudi Arabia 92.00 (3.2) 698.5 118.2
Saudi Airlines Cater. Saudi Arabia 128.00 (2.1) 369.9 64.1
Al Mouwasat Med. Saudi Arabia 83.25 (2.1) 181.0 54.9
Deyaar Development Dubai 0.47 (1.9) 103,841.3 32.1
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 Dist. Co. 50.10 (3.8) 0.0 (12.0)
Zad Holding Co. 67.00 (1.5) 18.0 13.9
Qatar Industrial Manufacturing Co. 50.20 (1.4) 58.5 (5.5)
Ezdan Holding Group 17.66 (1.3) 153.2 (3.0)
Mannai Corp 86.90 (1.3) 2.2 7.3
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Qatar Gas Transport Co. 21.00 2.6 61,671.2 37.6
Qatar Insurance Co. 61.50 (0.2) 57,616.8 14.0
Industries Qatar 162.00 1.5 27,455.6 14.9
Masraf Al Rayan 30.20 0.3 22,854.8 21.8
United Development Co. 22.99 0.8 21,879.5 29.2
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* 10,038.40 1.3 1.5 3.4 20.1 109.90 150,640.9 12.6 1.8 4.6
Dubai 2,665.95 1.5 1.3 3.0 64.3 168.71 65,862.7 15.5 1.1 3.0
Abu Dhabi 3,898.52 0.6 0.4 1.3 48.2 40.99 111,910.6 11.1 1.4 4.6
Saudi Arabia 8,203.20 0.6 0.9 3.6 20.6 1,551.14 432,378.4 17.1 2.1 3.6
Kuwait 8,132.30 (0.0) 0.5 0.8 37.0 96.34 111,156.0 20.1 1.3 3.5
Oman 6,898.90 0.8 1.0 3.8 19.8 45.90 23,859.5 11.4 1.7 4.0
Bahrain 1,202.68 0.1 0.1 0.7 12.9 0.89 21,979.1 8.4 0.9 4.0
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
9,850
9,900
9,950
10,000
10,050
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 1.3% to close at 10,038.4. The Real Estate
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.
 Qatar General Ins. & Rein. Co. and Medicare Group were the top
gainers, rising 5.3% and 3.2% respectively. Among the top
losers, Qatar Cinema & Film Dist. Co. fell 3.8%, while Zad
Holding Co. declined 1.5%.
 Volume of shares traded on Monday rose by 104.0% to 11.8mn
from 5.8mn on Sunday. Further, as compared to the 30-day
moving average of 5.6mn, volume for the day was 109.3%
higher. Qatar Gas Transport Co. and Mazaya Qatar Real Estate
Dev. were the most active stocks, contributing 25.0% and 14.0%
to the total volume respectively.
Source: Qatar Exchange (* as a % of traded value)
Ratings, Earnings and Global Economic Data
Ratings Updates
Company Agency Market Type* Old Rating New Rating Rating Change Outlook Outlook Change
Saudi Reinsurance
Co. (Saudi Re)
S&P
Saudi
Arabia
GCC regional scale
rating
– gcAA – 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)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
08/19 UK Rightmove Rightmove House Prices MoM August -1.80% – 0.30%
08/19 UK Rightmove Rightmove House Prices YoY August 5.50% – 4.80%
08/19 Japan Ministry of Finance Exports YoY July 12.2% 12.8% 7.4%
08/19 Japan Ministry of Finance Imports YoY July 19.6% 16% 11.8%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatari government spending slows sharply in 2012-13 –
According to the data released by Qatar Central Bank, the Qatar
government’s spending rose 2.2% to a record high of
QR178.2bn in its last fiscal year, though slowing sharply from
the double-digit increases seen in the previous decade. It was
the first time that the government's annual spending undershot
its budget plan since 1990. Total spending came in slightly
below the initial plan of QR178.6bn for the fiscal year that ended
in March 2013. Development expenditure stood at QR49.3bn,
well below the QR62.1bn that the government had originally
earmarked for the year. Qatar spent a record QR34.1bn on
public sector wages in FY2013, nearly 15% more than in the
previous year. (Reuters)
 Qatar monthly banking update for July 2013 – Deposits
decreased by 4.8% MoM (+11.1% YTD), while loans increased
by 2.3% MoM (+9.1% YTD) in July 2013. However, the banking
sector’s loan-to-deposit ratio (LDR) rose to 109% in July 2013
versus 102% at the end of June 2013. (QCB)
 RasGas completes offshore drilling in Barzan Gas project –
RasGas Company Limited has successfully completed offshore
drilling for 30 development wells worth $10.3bn in Barzan Gas
Project. This paves the way for subsequent phases of the
project to proceed for connecting the wells to subsea pipelines
that will bring the gas to shore. The 30 development wells have
a total length of approximately 138 kilometers and reach more
than 3,000 meters below the sea's surface. (AME Info)
 Qatar real estate transactions double in July – According to a
report by Ezdan Holding, real estate transactions in Qatar grew
by 103% YoY in July to reach QR5.5bn despite the onset of the
summer season and Ramadan holidays. The report said that
Qatar's real estate sector has benefited from the boom in
projects related to Qatar's National Vision 2030 strategy and
also due to the commencement of mega projects for the 2022
FIFA World Cup. Further, the award of tenders for Doha Metro
by Qatar Rail has created a positive impact, stimulating the real
estate sector. The report referred to the sales growth in The
Pearl Qatar during 2Q2013, which continues to attract investors
interested in the luxury residential sector. (Peninsula Qatar)
 Es'hailSat, ARABSAT sign strategic partnership agreement
– Es'hailSat Qatar Satellite Company and Arab Satellite
Communications Organization (ARABSAT) have signed a
strategic partnership agreement to promote cooperation and
strengthen the reach of TV broadcasting in Qatar. Under this
agreement, Es'hailSat will acquire the rights to 500MHz of
premium Ku-band bandwidth at the 26 degrees East TV
broadcasting hot-spot. Es'hailSat's second satellite, Es'hail 2,
will use these frequencies and will be designed to provide DTH
and other telecommunications services from this hot spot. This
will significantly increase Es'hailSat's capacity, and will
strengthen Es'hailSat's in-orbit back-up capability when both
Es'hail 1 and Es'hail 2 are operational. (AME Info)
 QA to extend its network to Delhi and Bangalore – Qatar
Airways (QA) is planning to extend its Boeing 787 Dreamliner
network to the Indian cities of Delhi and Bangalore starting from
September 1, 2013. (AME Info)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 63.59% 64.82% (4,959,290.47)
Non-Qatari 36.41% 35.17% 4,959,290.47

3. Page 3 of 5
International
 Bundesbank sees German growth steadying after strong
second-quarter – The Bundesbank said German economic
growth should become steady after a strong second quarter,
adding that the European Central Bank's forward guidance on
low interest rates is not an unconditional commitment. In its
monthly report for August 2013, the Bundesbank said the
second quarter expansion is likely to have returned the economy
to a normal level of capacity utilization. Meanwhile, the
Bundesbank said the key ECB interest rates will continue to
depend on the medium-term outlook for inflation, which is based
on expectations on future developments in the real economy as
well as credit and monetary aggregates. (Reuters)
 China central bank chief sees no big changes to policy –
China's Central Bank Governor Zhou Xiaochuan said the
country would fine-tune its prudent monetary policy stance for
the rest of the year if needed, but does not expect any big
adjustments to be made. Zhou Xiaochuan said the government
is making plans to relax controls on deposit rates. Zhou also
said China hopes the yuan will rise or fall within a range to
reflect market trends in currency trading. (Reuters)
 Moody's reiterates stable outlook on India – Moody's has
reiterated its Stable outlook on India's Baa3 sovereign rating.
India's rating is supported by low levels of overseas government
debt and adequate reserves for balance of payments needs
over the near term. (Reuters)
Regional
 FDI in GCC region reaches $26.4bn in 2012 – According to
UNCTAD’s annual World Investment Report 2013, foreign direct
investment (FDI) in the GCC region has increased slightly to
$26.4bn in 2012. This has brought an end to the steady decline
of the region’s FDI inflows over three consecutive years, since
the peak of $61.7bn reached before the financial crisis in 2008.
FDI inflows in the UAE and Kuwait increased to $9.6bn and
$1.9bn respectively. The report said that FDI in Saudi Arabia
declined by 25% to $12.2bn. Meanwhile, the FDI outflows from
the GCC region to other countries declined 17.7% to $18.6bn in
2012. Kuwait was the largest investor overseas, accounting for
41% of the outflows with $7.6bn, followed by Saudi Arabia with
$4.4bn and the UAE with $2.5bn. (Bloomberg)
 Al-Khodari Sons bags SR125.5mn water drainage contract –
Abdullah Abdul Mohsin Al-Khodari Sons Company has signed a
contract worth SR125.5mn with the Ministry of Municipal & Rural
Affairs (Riyadh Municipality) for the construction of storm water
drainage network in Murooj, Massif and Nakhil Districts in
Riyadh. The duration of the work will be 30 months.
(GulfBase.com)
 Al Hail acquires majority stake in MAF Orix Finance – Al Hail
Holding has acquired a majority stake in MAF Orix Finance, a
JV between Majid Al Futtaim Ventures and ORIX Corporation of
Japan. With this acquisition, Al Hail and ORIX Corporation have
entered into a long-term alliance for cooperation in leasing and
other financial services in the UAE. (AME Info)
 Dubai DED sets up external relations section to reach
potential investors – The Department of Economic
Development (DED), Dubai has set up its External Relations
section to reach out to potential investors and enable them to
set up their businesses in Dubai. Teams in this new section will
focus on attending local and international exhibitions to meet
investors and providing information regarding business
registration and licensing options in Dubai. (GulfBase.com)
 DEWA retains leading position in energy saving measures –
The Dubai Electricity & Water Authority (DEWA) has retained a
leading position in energy efficiency through the implementation
of a series of energy and water saving measures. DEWA has
been able to reduce electrical line losses from 7% in 1998 to
3.5% in 2012, achieving AED2.223bn worth of savings between
2001 and 2012. DEWA has also been able to reduce water
losses in its network from 42% in 1988 to 10.88% in 2012,
saving AED5.6bn in total costs between 1990 and 2012, making
both reductions among the highest in the world. (GulfBase.com)
 Deyaar to hand over The Burlington commercial tower in
September 2013 – Deyaar Development will hand over “The
Burlington”, a commercial tower with 1,365,305mn square feet
space in September 2013. (DFM)
 CBRE: Abu Dhabi residential rents continue to slide –
According to the C B Richard Ellis South Asia Pvt. Ltd. (CBRE),
the Abu Dhabi residential market is witnessing increased tenant
activity due to the government’s decision to force its employees
to reside in Abu Dhabi for receiving their housing contribution.
Despite this measure, CBRE said that rental rates in 2Q2013
have dropped 4% QoQ. The highest demand is for 2 bedroom
units, with rentals for upper middle and high-end
accommodation ranging AED90,000-145,000 per unit per
annum. (AME Info)
 IPIC’s OMV acquires stakes in North Sea oilfields for
$2.65bn – Austria-based OMV – partly owned by Abu Dhabi's
International Petroleum Investment Company (IPIC) – has
acquired stakes in North Sea oilfields from Norway's Statoil for
$2.65bn as it expands its production capacity at the expense of
its downstream portfolio. Under the deal, the company will
receive stakes in two fields in Norwegian waters: the Gullfaks
and the Gudrun. It will also increase its ownership in the
Rosebank and Schiehallion fields near the UK’s Shetland
Islands. (Bloomberg)
 Mubadala Petroleum, Kris Energy to develop oil field in
Thailand – A subsidiary of Abu Dhabi state investment fund,
Mubadala Petroleum and Singapore-listed Kris Energy are
planning to develop an oil field in the Gulf of Thailand. Mubadala
Petroleum and Kris Energy will develop the Nong Yao field in
Thailand with a production capacity of up to 15,000 barrels of oil
per day and 30,000 barrels of oil fluids per day. Production is
expected to start by 1H2015. (Reuters)
 Allen & Overy advises on Abu Dhabi’s first financial free
zone – Allen & Overy has advised on the creation of Abu
Dhabi’s first financial free zone, the Abu Dhabi Global Market,
which aims to be leading a global financial market and a major
regional financial center. Allen & Overy acted as the sole legal
counsel on the project and advised on all legal aspects of the
establishment of the Global Market. (GulfBase.com)
 Moody’s: Oman’s growth outlook vulnerable to downturn in
oil prices – According to Moody's Investors Service report,
Oman's A1 rating with Stable outlook is based on the economy's
robust growth outlook and the government's sound fiscal
metrics, but both are vulnerable to a downturn in global oil
prices. Moody’s expects a GDP growth of 4.6% in 2013 and
4.1% in 2014, supported by the government's efforts to diversify
the economy away from the hydrocarbon sector. Moody's also
notes that the A1 rating is supported by the government's steady
budget surpluses, very low levels of debt (5.2% of GDP in
2012), and its strong net financial asset position. Oman's major
credit challenges stem from its economic and fiscal
vulnerabilities arising from the oil & gas sector, which continues
to contribute a significant share to its GDP (45% of GDP on
average between 2000 and 2011). Moreover, Oman's fiscal

4. Page 4 of 5
breakeven oil price is among the highest in the GCC region
($80) and showed a drastic increase between 2003 and 2012.
(Bloomberg)
 CBB’s weekly T-bills oversubscribed by 290% – The Central
Bank of Bahrain’s (CBB) this week’s issue of BHD35mn treasury
bills has been oversubscribed by 290%. These bills carry a
maturity of 91 days and will mature on November 20, 2013. The
weighted average rate of interest is 0.70%, similar to the
previous issue on August 14, 2013. (GulfBase.com)
 Investcorp to sell Skrill Group for €600mn – Investcorp Bank
has agreed for the sale of London-based Skrill Group to funds
advised by CVC Capital Partners for a total enterprise value of
€600mn. Investcorp will retain a substantial minority position in
the company and will continue to be on Skrill’s board.
(GulfBase.com)
 Arcapita Bank sells 3PD Holding for $365mn – Bahrain-
based Arcapita Bank has sold Georgia-based logistics company
3PD Holding to XPO Logistics for $365mn. (GulfBase.com)

5. 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
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 (*July 09, 2013) Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QE Index S&PPan Arab S&P GCC
0.6%
1.3%
(0.0%)
0.1%
0.8%
0.6%
1.5%
(0.5%)
0.0%
0.5%
1.0%
1.5%
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 1,365.98 (0.8) (0.8) (18.5) DJ Industrial 15,010.74 (0.5) (0.5) 14.5
Silver/Ounce 23.17 (0.4) (0.4) (23.6) S&P 500 1,646.06 (0.6) (0.6) 15.4
Crude Oil (Brent)/Barrel (FM
Future)
109.90 (0.5) (0.5) (1.1) NASDAQ 100 3,589.09 (0.4) (0.4) 18.9
Natural Gas (Henry
Hub)/MMBtu
3.46 3.3 3.3 1.0 STOXX 600 304.77 (0.5) (0.5) 9.0
LPG Propane (Arab Gulf)/Ton* 810.00 0.0 0.0 (16.4) DAX 8,366.29 (0.3) (0.3) 9.9
LPG Butane (Arab Gulf)/Ton* 807.00 0.0 0.0 (16.7) FTSE 100 6,465.73 (0.5) (0.5) 9.6
Euro 1.33 0.0 0.0 1.1 CAC 40 4,083.98 (1.0) (1.0) 12.2
Yen 97.55 0.0 0.0 12.4 Nikkei 13,758.13 0.8 0.8 32.4
GBP 1.56 0.1 0.1 (3.7) MSCI EM 944.88 (1.4) (1.4) (10.5)
CHF 1.08 0.3 0.3 (0.9) SHANGHAI SE Composite 2,085.60 0.8 0.8 (8.1)
AUD 0.91 (0.8) (0.8) (12.4) HANG SENG 22,463.70 (0.2) (0.2) (0.9)
USD Index 81.23 (0.0) (0.0) 1.8 BSE SENSEX 18,307.52 (1.6) (1.6) (5.8)
RUB 32.95 0.1 0.1 7.9 Bovespa 51,574.09 0.1 0.1 (15.4)
BRL 0.41 (1.2) (1.2) (15.2) RTS 1,322.25 (0.1) (0.1) (13.4)
144.2
128.3
115.8