The QE index in Qatar declined 1.0% due to losses in the banking and industrial sectors. Top losers were Qatar German Co. for Med. Dev. and QNB Group. Regional markets were mixed with Dubai and Abu Dhabi rising while Saudi Arabia declined marginally. News included Qatari insurers' assets totaling QR15.9bn in 2012, Cabinet approving rent dispute panels, and potential increases in rents at Barwa Village. Vodafone Qatar appointed new directors and Ahli Bank and Alijarah will disclose upcoming quarterly results. The IMF approved the next $1bn tranche for Ireland's bailout program.

1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 1.0% to close at 9,596.3. Losses were led by the Bank.
& Fin. Services and Industrials indices, declining 1.6% and 1.1% respectively.
Top losers were Qatar German Co. for Med. Dev. and QNB Group, falling 3.4%
and 2.8% respectively. Among the top gainers, Qatar General Ins. & Rein. Co.
rose 4.3%, while Qatar Industrial Manufacturing Co. gained 1.9%.
GCC Commentary
Saudi Arabia: The TASI index declined marginally to close at 8,002.1. Losses
were led by the Hotel & Tour. and Retail indices, falling 0.7% and 0.4%
respectively. Saudi Ind. Inv. declined 2.6%, while MESC was down 2.1%.
Dubai: The DFM index rose 0.3% to close at 2,723.4. The Banking index
gained 2.0%, while the Transportation index was up 0.8%. Gulf Navigation
rose 12.9%, while Mashreq Bank was up 11.1%.
Abu Dhabi: The ADX benchmark index gained 0.2% to close at 3,836.4. The
Industrial index rose 5.7%, while the Energy index was up 3.1%. Int. Fish
Farming Holding Co. surged 14.8%, while Gulf Cement Co. gained 13.5%.
Kuwait: The KSE index rose 0.1% to close at 7,902.7. The Industrial index
gained 0.6%, while the Consumer Goods index was up 0.4%. IFA Hotels &
Resorts Co. rose 9.4%, while International Resorts Co. was up 9.1%.
Oman: The MSM index gained 0.3% to close at 6,615.9. Gains were led by
the Ind. and Bank. & Inv. indices, rising 0.7% and 0.2% respectively. Oman
Chlorine gained 4.5%, while Gulf Investment Services was up 2.9%.
Bahrain: The BHB index rose 0.5% to close at 1,196.5. The Commercial
Banking index gained 1.1%. Al Salam Bank rose 3.1%, while Ahli United Bank
was up 2.3%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Rein. Co. 52.80 4.3 0.4 14.8
Qatar Industrial Manufacturing Co. 50.50 1.9 5.7 (4.9)
Dlala Brok. & Inv. Holding Co. 21.69 0.9 7.3 (30.2)
Barwa Real Estate Co. 25.50 0.8 291.5 (7.1)
Doha Insurance Co. 25.70 0.4 1.0 4.7
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 29.00 (0.9) 1,251.1 17.0
United Development Co. 21.66 0.3 1,150.8 21.7
Industries Qatar 148.50 (1.3) 686.7 5.3
Medicare Group 49.15 (2.1) 477.1 37.7
Qatari Investors Group 29.40 (0.2) 468.4 27.8
Source: Bloomberg (* in QR)
Market Indicators 25 Sep 13 24 Sep 13 %Chg.
Value Traded (QR mn) 325.1 325.5 (0.1)
Exch. Market Cap. (QR mn) 521,700.2 527,965.2 (1.2)
Volume (mn) 6.6 6.6 0.4
Number of Transactions 3,230 3,925 (17.7)
Companies Traded 39 34 14.7
Market Breadth 10:26 10:22 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,710.97 (1.0) (2.8) 21.2 N/A
All Share Index 2,415.34 (1.0) (2.6) 19.9 12.8
Banks 2,328.38 (1.6) (3.5) 19.4 12.3
Industrials 3,041.74 (1.1) (2.1) 15.8 11.2
Transportation 1,795.11 (0.7) (1.8) 33.9 12.3
Real Estate 1,765.35 0.5 (1.8) 9.5 13.3
Insurance 2,245.11 1.1 (0.4) 14.3 9.3
Telecoms 1,439.53 (0.5) (3.5) 35.2 15.2
Consumer 5,884.37 (0.1) (0.6) 26.0 24.2
Al Rayan Islamic Index 2,771.00 (0.3) (1.5) 11.4 14.2
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Gulf Pharma. Industry Abu Dhabi 4.00 12.4 68.8 45.5
IFA Hotels & Resorts Kuwait 0.58 9.4 1.0 31.8
Dana Gas Abu Dhabi 0.68 4.6 130,948.0 51.1
Qatar Gen. Ins. & Rein. Qatar 52.80 4.3 0.4 14.8
Public Warehousing Co. Kuwait 0.73 4.3 3,260.1 50.3
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
NBQ Abu Dhabi 3.11 (9.9) 200.0 68.1
United Arab Bank Abu Dhabi 5.20 (5.5) 1,108.0 68.8
QNB Group Qatar 165.00 (2.8) 62.2 26.1
Gulf Int. Services Qatar 51.10 (2.7) 104.5 70.3
Saudi Industrial Inv. Saudi Arabia 26.30 (2.6) 1,573.4 16.1
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 German Co. for Med. Dev. 15.26 (3.4) 107.0 3.2
QNB Group 165.00 (2.8) 62.2 26.1
Gulf International Services 51.10 (2.7) 104.5 70.3
Medicare Group 49.15 (2.1) 477.1 37.7
Ezdan Holding Group 17.05 (1.4) 39.9 (6.3)
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Industries Qatar 148.50 (1.3) 102,296.2 5.3
Masraf Al Rayan 29.00 (0.9) 36,317.9 17.0
United Development Co. 21.66 0.3 25,074.7 21.7
Medicare Group 49.15 (2.1) 23,521.2 37.7
Qatar Islamic Bank 68.40 0.0 13,899.2 (8.8)
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* 9,596.34 (1.0) (2.8) (0.2) 14.8 89.28 143,311.0 12.1 1.7 4.8
Dubai 2,723.42 0.3 2.1 7.9 67.9 361.48 66,941.6 15.8 1.1 3.3
Abu Dhabi 3,836.42 0.2 0.6 2.7 45.8 163.86 110,271.7 10.9 1.4 4.7
Saudi Arabia 8,002.14 (0.0) (0.3) 3.0 17.7 1,256.69 423,811.0 16.7 2.1 3.7
Kuwait 7,902.65 0.1 0.7 3.5 33.2 192.64 111,134.0 19.0 1.3 3.5
Oman 6,615.91 0.3 0.2 (1.1) 14.8 15.48 23,172.9 10.9 1.6 3.9
Bahrain 1,196.50 0.5 (0.2) 0.7 12.3 1.46 21,887.5 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)
9,550
9,600
9,650
9,700
9,750
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 1.0% to close at 9,596.3. The Bank. &
Fin. Services and Industrials indices led the losses. The index
declined on the back of selling pressure from non-Qatari
shareholders despite buying support from Qatari shareholders.
 Qatar German Co. for Med. Dev. and QNB Group were the top
losers, falling 3.4% and 2.8% respectively. Among the top
gainers, Qatar General Ins. & Rein. Co. rose 4.3%, while Qatar
Industrial Manufacturing Co. gained 1.9%.
 Volume of shares traded on Wednesday rose by 0.4% to 6.6mn
from 6.6mn on Tuesday. However, as compared to the 30-day
moving average of 8.6mn, volume for the day was 23.1% lower.
Masraf Al Rayan and United Development Co. were the most
active stocks, contributing 19.0% and 17.5% to the total volume
respectively.
Source: Qatar Exchange (* as a % of traded value)
Global Economic Data
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
09/25 US MBA MBA Mortgage Applications 20-September 5.50% – 11.20%
09/25 US US Census Bureau New Home Sales August 421K 420K 390K
09/25 US US Census Bureau New Home Sales MoM August 7.90% 6.60% -14.10%
09/25 US US Census Bureau Durable Goods Orders August 0.10% -0.20% -8.10%
09/25 France INSEE Production Outlook Indicator September -10 -16 -18
09/25 France INSEE Business Confidence September 97 99 98
09/25 Germany GfK GfK Consumer Confidence October 7.1 7.0 7.0
09/25 UK CBI CBI Reported Sales September 34 23 27
09/25 Spain INE PPI MoM August -0.10% – 0.90%
09/25 Spain INE PPI YoY August -0.10% -- 1.20%
09/25 Japan Bank of Japan Corporate Service Px Index YoY August 0.60% 0.50% 0.60%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QE listed insurers’ assets totaled QR15.9bn in 2012 –
According to a report by the Qatar Central Bank (QCB), five
national insurance companies listed on the Qatar Exchange
(QE) held assets worth QR15.9bn in 2012, equivalent to roughly
2.3% of the country’s GDP. These five national insurance
companies are: Al Khaleej Takaful, Doha Insurance, Qatar
Islamic Insurance, Qatar General Insurance and Qatar
Insurance. The total gross premium earned by these five
underwriters in 2012 amounted to QR3.92bn, accounting for
roughly 0.6% of last year’s GDP. A QCB analysis of their
balance sheets indicated that their total assets grew by 6.7%
during 2012 as compared to 3.6% in 2011. Moreover, these five
insurance companies maintained their profit levels, as their net
profit increased by 2.9% in 2012 as compared to 2.7% in 2011.
(Gulf-Times.com)
 Cabinet approves rent dispute panels – Qatari Cabinet has
approved a draft decision to form official committees to settle
rental disputes between tenants and landlords. The Cabinet also
approved a draft decree law amending some provisions of the
draft law No 4 of 2008 concerning real estate rents. The
amendment aims to ease settlement of disputes arising from a
relationship between the lessor and the lessee. (Gulf-
Times.com)
 Barwa Village shop rents likely to go up – Barwa Real Estate
Company (BRES) has hinted a possible hike in the rentals of
shops in Barwa Village. Barwa’s leasing subsidiary, Waseef’s
CEO Abdullah Jabara Al Rumaihi said the rents of commercial
spaces in Barwa Village are much lower compared to the
current market rates. (Peninsula Qatar)
 Dragon Mart set to open in December – Dragon Mart, the first
exclusive Chinese market in Qatar, is expected to open its doors
to customers at Barwa Commercial Avenue on the Abu Hamour-
Industrial Area Road in December 2013. (Peninsula Qatar)
 VFQS appoints new Strategy Director, Head of fixed
Services – Vodafone Qatar (VFQS) has appointed Dalia Ahmed
Al Khalaf as its new Strategy Director. Al-Khalaf’s first priority is
to focus on the long-term strategy for VFQS in Qatar. She has
an extensive experience of 13 years working in various
companies in Qatar including Enterprise Qatar, QInvest, Al
Khaliji Bank, Maersk Oil and the International Projects
Development Company etc. Further, VFQS has appointed
Simone Eliantonio as the new Head of Fixed Services, as the
company ramps up its entry into Qatari fixed services market.
Eliantonio will join VFQS from Vodafone Group Technology
Networks, where he was working as the Principal Manager for
Fixed Mobile Convergence Service Delivery. (QE)
 ABQK to disclose its 3Q2013 results on October 13 – Ahli
Bank (ABQK) will disclose its 3Q2013 financial results for the
period ending September 30, 2013 on October 13, 2013. (QE)
 NLCS to disclose its 3Q2013 results on October 9 – Alijarah
Holding (NLCS) will disclose its 3Q2013 financial results for the
period ending September 30, 2013 on October 9, 2013. (QE)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 66.75% 60.11% 21,612,207.18
Non-Qatari 33.24% 39.89% (21,612,207.18)

3. Page 3 of 5
International
 IMF approves next $1bn for Ireland’s bailout program – The
IMF disbursed the next $1bn aid tranche to Ireland, as the
nation remains on track for meeting the conditions of its loan
program. The IMF is part of the lender troika overseeing
Ireland’s $115bn bailout, which was necessitated after its
biggest banks collapsed in 2010. The IMF's portion of the
program is about $30bn. The IMF said Ireland's economy
contracted 1.2% YoY in 2Q2013 as exports fell and domestic
demand shrunk. However, other recent indicators suggest
growth should pick up in 2H2013. (Reuters)
 BoE: No action on UK housing now, to focus on hedge fund
risks – The Bank of England's Financial Policy Committee
(FPC) said Britain's housing recovery does not require any more
action from regulators, but will need to be watched closely. The
FPC also singled out hedge funds to be examined of their
vulnerability to rises in long-term interest rates. The committee
said it made no new recommendations at its most recent
meeting on September 18. The FPC said the recovery in the
housing market appears to have gained momentum, but the
current activity and loan-to-value ratios on new mortgages are
below historic averages. (Reuters)
Regional
 Mideast airlines may require 2,610 jets worth $550bn over
20 years – According to a report by Boeing, the Middle East
region is expected to require some 2,610 jetliners valued at
$550bn over the next 20 years. Globally, Boeing forecasts a
$4.8tn market for jet transport over the next 20 years. The report
added that the Middle East’s financial institutions in 2013
continue to surpass expectations for new delivery financing of
Boeing commercial airplanes. The positive trend comes as
global jet makers expect record deliveries in 2013, with Middle
East support for the US-built jetliners doubling between 2011
and 2012 to approximately $6.4bn. (Gulf-Times.com)
 Lufthansa seeks to partner with Gulf airlines – Germany-
based airline Lufthansa’s CEO Christoph Franz said the airline
seeks to form alliance with any of the Gulf airlines. The Europe's
biggest airline by sales has lost some of its market share to
ambitious Gulf-based airlines, which have also begun forming
links with competitors of the German carrier. (Reuters)
 Tadawul to upgrade its current trading platform – The Saudi
Stock Exchange (Tadawul) has entered into an agreement with
NASDAQ OMX Group (Nasdaq: NDAQ) to upgrade its current
trading platform. Under the agreement, Tadawul will continue to
leverage the existing suite of market surveillance and CSD
technologies that are supported by NASDAQ OMX since 2006.
As part of its long-term strategic plan, Tadawul will replace its
existing NASDAQ OMX platform (SAXESS) with one powered
by the X-Stream INET technology. This shift to the new platform
is expected to commence in January 2014. (Tadawul)
 GACA to issue second tranche of SR15bn Islamic sukuk –
The General Authority of Civil Aviation (GACA) is set to issue its
second tranche of Islamic sukuk worth SR15bn to finance the
expansion of King Abdulaziz International Airport (KAIA) in
Jeddah and King Khalid International Airport (KKIA) in Riyadh.
This will be GACA’s second issue after the successful issue of
SR15bn in January 2012 to finance part of SR27bn KAIA
expansion project. GACA has appointed HSBC Saudi Arabia
and the NCB Capital to manage the riyal-denominated
transaction. The KAIA expansion will increase the airport’s
annual capacity to 30mn passengers and is scheduled to be
completed by the end of 2014. Meanwhile, the KKIA project,
which will be ready by 2017, will increase its capacity to 35.5mn.
(GulfBase.com)
 GE enters into lease deal with MODON to construct oil &
gas facility – General Electric (GE) has entered into a lease
agreement with the Saudi Industrial Property Authority
(MODON) to obtain a land plot of 74,000 square meters.
Located in Dammam’s second Industrial City, this land will be
initially used to construct an advanced GE oil & gas
manufacturing facility, which will be part of its $1bn investment
commitment in the Kingdom. This facility will provide
consolidated offices, manufacturing capability, packaging,
assembly, measurement & control, subsea systems, artificial lift
and pressure control equipment for its drilling & surface
businesses. This facility is planned to be operational by 4Q2015
and will enable GE to support its key customers such as Saudi
Aramco. (Bloomberg)
 Saudi Aramco awards $400mn Jizan refinery contract to
CHE – The Saudi Arabian Oil Company (Saudi Aramco) has
awarded $400mn contract to China Harbor Engineering (CHE)
for the work related to the planned $7bn Jizan refinery in China.
The port dredging and reclamation work at Jizan Economic City
in southwest China will be completed by mid-2015. The Jizan
refinery is few months behind schedule with Saudi Aramco still
planning to make the plant operational by 2017-2018.
(Bloomberg)
 APC wins SR49mn contract to supply steel pipes from
Hanwha – The Arabian Pipes Company (APC) has obtained a
contract worth SR49mn to supply welded steel pipes from
Hanwha Engineering & Construction Company, which is a
contracting company for Saudi Aramco-owned Jazan refinery
project. These pipes will be delivered during 1Q2014 from APC
Jubail factory and the contract’s financial impact will be visible in
the same period. (Tadawul)
 SADAFCO signs SR6.13mn contract with Zamil Steel –
Saudi Dairy & Foodstuff Company (SADAFCO) has inked a
SR6.13mn contract with Zamil Steel Holding Company to supply
structural steel frames and sandwich panels for its regional
distribution center in Riyadh. (Tadawul)
 SABIC sets initial price guidance for five-year bond sale –
The Saudi Basic Industries Corp (SABIC) has set the initial price
guidance for its benchmark-sized dollar-denominated bond
offering. Citigroup, HSBC Holdings, Mizuho and Royal Bank of
Scotland are the lead managers for this bond sale. The
offering’s lead managers said the initial price for five-year bond
is around 150 basis points over the equivalent US treasuries.
(Reuters)
 SAAC declares SR102.5mn dividend – The Saudi Airlines
Catering Company’s (SAAC) board has recommended the
distribution of dividends worth SR102.5mn (SR1.25 per share),
representing 12.5% of the face value to its shareholders.
SAAC’s shareholders who are registered with the Securities
Depository Center on October 31, 2013 will be eligible for this
dividend, which will be distributed on November 10, 2013.
(Tadawul)
 UAE grants $100mn to Morocco for solar & wind energy
projects – Crown Prince of Abu Dhabi General Shaikh
Mohammed bin Zayed Al Nahyan, has granted $100mn financial
support to Morocco to develop solar and wind energy stations in
a number of villages and outlying areas to serve development
projects in Morocco. This support is a part of the UAE’s initiative
to strengthen fraternal cooperation and bilateral relations with
Morocco, as well as to promote clean and renewable energies.
(Bloomberg)

4. Page 4 of 5
 RAK Airways begins flights to 10 cities from Riyadh – UAE-
based RAK Airways has started operating four weekly flights
from Riyadh to 10 international destinations via Ras Al Khaimah
in the UAE. These destinations are: Calicut, Lahore, Peshawar,
Islamabad, Dhaka, Chittagong, Kathmandu, Amman, Cairo and
Doha. (GulfBase.com)
 SAHC obtains $300mn syndicated loan facility – The
Stanford Asia Holding Company (SAHC) has obtained a five-
year syndicated loan facility worth $300mn to replace its existing
debt. The five-year syndicated facility was arranged by Standard
Chartered, Emirates NBD, Mubadala GE Capital and Noor
Islamic Bank. The facility was oversubscribed with Abu Dhabi
Commercial Bank, Barwa Bank, Mashreqbank who also joined
as arrangers. (Bloomberg)
 Novus Aviation Capital sets up financing platform along
with DBJ, Airbus – Dubai-based Novus Aviation Capital along
with the Development Bank of Japan (DBJ) and Airbus has
established a new integrated financing platform, “Tamweel
Aviation Finance” (TAF) to offer turnkey alternative financing
solutions to airlines and aircraft leasing companies. Managed by
Novus Aviation Capital, TAF will facilitate the funding for aircraft
acquisitions, providing secured junior and mezzanine loans to
airlines for all Airbus aircraft, with a focus on the twin-aisle
segment, including the A380. (AME Info)
 Depa obtains AED574mn contract for Abu Dhabi interior fit-
out project – Depa Limited has obtained a fit-out contract worth
AED574mn for a major government project in Abu Dhabi. Under
this contract, Depa will install structural steel & architectural
woodwork, flooring & carpeting, wall coverings & interior lighting
fixtures over a 28,000 square meter area. The project is due to
be completed in 2015. (AME Info)
 UP to increase foreign investor stake, launch AED1.5bn
projects in three years – The Union Properties’ (UP) Chairman
Khalid bin Kalban said the company is planning to seek its board
approval to increase the percentage of shares held by foreign
investors. Kalban expects the top shareholder Emirates NBD, to
retain its 15% stake after it sold part of its stake in the market
over the past few months. Kalban also said the company is
working on six new projects worth a total of AED1.5bn for the
next three years, of which it would require around AED800mn
from local banks to help fund their construction. The first phase
includes retail development of “The Ribbon”, “The Link” and
expansion of the green community. Other projects are:
expansion of the Uptown Mirdiff retail district and the
development of a new theme park project including residential
units. UP will use its AED150mn cash to develop these projects.
(GulfBase.com, Bloomberg)
 Abu Dhabi approves AED15.8bn to develop infrastructure –
The Abu Dhabi government has approved funds worth
AED15.8bn for the development of infrastructure and social
welfare projects in the Emirate. (Reuters)
 NBAD’s BoD appoints new Deputy Chairman – National
Bank of Abu Dhabi’s (NBAD) board of directors has appointed
Dr. AI Taher AI Mussabh AI Kindi as the new Deputy Chairman
to the board. AI Kindi will replace late Dr. Juan Salem AI
Dhaheri. (ADX)
 Kuwait extends deadline to bid for refinery modernization –
Kuwait has extended the bidding deadline until December 24,
2013 for its KD4bn project to modernize its largest refineries in
order to produce cleaner-burning fuels after bidders asked for
more time. The approved bidding groups are: Japan’s JGC
Corp., UK-based Petrofac Ltd., Tecnicas Reunidas of Spain,
Italy’s Saipem and US-based Fluor Corp. (Bloomberg)
 Oman Air, OAMC, SATS sign strategic JV deal to develop
cargo facilities – Oman Air and Oman Airport Management
Company (OAMC) have entered into a strategic JV agreement
with Singapore Airport Terminal Services Limited (SATS) to
develop and operate state-of-the-art cargo facilities in all the
airports Oman. This agreement is set to boost the cargo
movement in the Sultanate and will cover air, road-to-air and
sea-to-air cargo movements. (AME Info)
 Moody's takes actions on Bahraini banks – Moody's has
taken actions on the National Bank of Bahrain (NBB) and Bank
of Bahrain & Kuwait (BBK). Moody's has confirmed the two
banks' Baa2/Prime-2 deposit and senior debt ratings, with a
negative outlook. The rating actions conclude the review for
downgrade initiated on June 26, 2013. Moody's has extended
BMI Bank’s (BMI) review for downgrade on its Ba1 deposit
rating, and affirmed the bank's standalone E+ bank financial
strength rating (BFSR) with a Stable outlook, equivalent to a
baseline credit assessment of b1. In addition to these actions,
Moody's has also extended the review for downgrade on all the
ratings of Bahrain Islamic Bank to reflect its extensive capital
needs and ongoing uncertainties around the timing, amount and
nature of the recapitalization of the bank. (Bloomberg)
 Bahrain, World Bank initiate EEIP to reduce energy
consumption – Bahrain and World Bank have entered into an
agreement to start the Energy Efficiency Implementation
Program (EEIP), which will provide technical support and
advisory services for curbing energy demand over the next three
years. This program seeks to reduce inefficient energy
consumption in residential, commercial and public buildings in
Bahrain. Under this program, awareness campaigns will be
rolled out to inform consumers and retailers about the energy
efficiency labeling for appliances. Similarly, building codes will
be developed to redirect investments to energy efficient
technologies in order to support Bahrain’s Vision 2030. EEIP will
also support the installation of smart meters, which will optimize
the energy consumption of public buildings, large commercials
and industrial consumers. (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,
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views and opinions included in this report.
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS.
Page 5 of 5
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
150.0
Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13
QE Index S&PPan Arab S&P GCC
(0.0%)
(1.0%)
0.1%
0.5%
0.3%
0.2% 0.3%
(1.5%)
(1.0%)
(0.5%)
0.0%
0.5%
1.0%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,334.48 0.8 0.6 (20.3) DJ Industrial 15,273.26 (0.4) (1.2) 16.6
Silver/Ounce 21.80 0.4 0.1 (28.2) S&P 500 1,692.77 (0.3) (1.0) 18.7
Crude Oil (Brent)/Barrel (FM
Future)
108.32 (0.3) (0.8) (2.5) NASDAQ 100 3,761.10 (0.2) (0.4) 24.6
Natural Gas (Henry
Hub)/MMBtu
3.52 (2.0) (4.4) 2.6 STOXX 600 313.02 (0.1) (0.4) 11.9
North American Spot LPG
Propane Price
103.00 (2.3) (6.3) 15.1 DAX 8,665.63 0.0 (0.1) 13.8
North American Spot LPG
Normal Butane Price
134.88 1.2 1.3 (22.0) FTSE 100 6,551.53 (0.3) (0.7) 11.1
Euro 1.35 0.4 0.0 2.5 CAC 40 4,195.35 (0.0) (0.2) 15.2
Yen 98.43 (0.3) (0.9) 13.5 Nikkei 14,620.53 (0.8) (0.8) 40.6
GBP 1.61 0.5 0.5 (1.1) MSCI EM 1,007.55 (0.3) (0.6) (4.5)
CHF 1.10 0.4 0.1 0.7 SHANGHAI SE Composite 2,198.52 (0.4) 0.3 (3.1)
AUD 0.94 (0.2) (0.3) (9.9) HANG SENG 23,209.63 0.1 (1.2) 2.4
USD Index 80.33 (0.3) (0.1) 0.7 BSE SENSEX 19,856.24 (0.3) (2.0) 2.2
RUB 32.06 0.6 0.8 5.0 Bovespa 54,261.11 (0.3) 0.3 (11.0)
BRL 0.45 (1.3) (0.6) (7.9) RTS 1,452.98 0.5 (0.7) (4.8)
137.9
125.6
114.2