1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index rose 0.2% to close at 11,331.5. Gains were led by the Real
Estate and Industrials indices, gaining 0.9% and 0.3% respectively. Top gainers
were Islamic Holding Group and Mesaieed Petrochemical Holding Co., rising
10.0% and 7.2% respectively. Among the top losers, Zad Holding Co. fell 9.4%,
while Mannai Corp. declined 3.6%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.2% to close at 9,449.9. Gains were led
by Tele. & Info. Tech. and Cement indices, rising 0.8% and 0.5% respectively.
Saudi Tran. & Inv. rose 6.3%, while Al Rajhi Co. for Coop. Ins. was up 3.9%.
Dubai: The DFM index gained 0.9% to close at 4,383.2. The Telecom. index
rose 2.7%, while Real Estate & Construction index was up 1.5%. Shuaa
Capital surged 14.7%, while Union Properties Co. was up 3.8%.
Abu Dhabi: The ADX benchmark index rose 0.8% to close at 4,852.7. The
Real Estate index gained 5.0%, while the Services index was up 1.1%. Foodco
Holding rose 15.0%, while Abu Dhabi Aviation Co. was up 8.2%.
Kuwait: The KSE index gained 0.1% to close at 7,592.0. The Parallel Market
index rose 1.0%, while the Banking index was up 0.9%. National Consumer
Holding Co. gained 8.8%, while IFA Hotels & Resorts Co. was up 6.9%.
Oman: The MSM index declined 0.2% to close at 6,926.0. Losses were led by
the Services index, falling 0.6%, while other indices ended in green. National
Bank Of Oman fell 7.8%, while Al Anwar Ceramic Tiles was down 4.8%.
Bahrain: The BHB index fell 0.1% to close at 1,355.0. The Comm. Banking
index declined 0.7%, while other indices remained unchanged or ended in
green. Nass Corp. fell 2.7%, while Al Ahli United Bank was down 1.4%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Islamic Holding Group 71.60 10.0 491.1 55.7
Mesaieed Petrochemical Holding 36.70 7.2 5,805.5 267.0
Medicare Group 68.60 4.9 1,433.8 30.7
Qatar German Co for Med. Dev. 13.39 2.9 1.3 (3.3)
Barwa Real Estate Co. 36.30 1.5 3,511.6 21.8
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
Mesaieed Petrochemical Holding 36.70 7.2 5,805.5 267.0
Barwa Real Estate Co. 36.30 1.5 3,511.6 21.8
Mazaya Qatar Real Estate Dev. 13.65 (0.9) 1,474.6 22.1
Medicare Group 68.60 4.9 1,433.8 30.7
Vodafone Qatar 11.96 0.1 525.2 11.7
Source: Bloomberg (* in QR)
Market Indicators 26 Mar 14 25 Mar 14 %Chg.
Value Traded (QR mn) 716.9 642.2 11.6
Exch. Market Cap. (QR mn) 634,804.2 630,962.2 0.6
Volume (mn) 16.7 15.7 6.9
Number of Transactions 9,634 9,125 5.6
Companies Traded 38 42 (9.5)
Market Breadth 22:13 20:18 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 16,754.55 0.2 (0.3) 13.0 N/A
All Share Index 2,903.21 0.2 (0.1) 12.2 14.6
Banks 2,741.90 0.2 0.3 12.2 14.4
Industrials 3,997.33 0.3 (0.7) 14.2 15.5
Transportation 1,997.72 (0.1) 0.7 7.5 13.9
Real Estate 2,180.65 0.9 1.5 11.7 14.1
Insurance 2,771.17 (0.1) (1.9) 18.6 7.7
Telecoms 1,493.86 0.0 (0.9) 2.8 20.6
Consumer 6,888.21 (0.2) (0.4) 15.8 30.0
Al Rayan Islamic Index 3,494.13 0.6 0.2 15.1 17.4
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Nat. Bank Of Oman Muscat 0.32 11.3 384.1 10.6
IFA Hotels & Resorts Kuwait 0.27 6.9 1.6 (7.0)
Aldar Properties Abu Dhabi 3.56 5.3 196,969.3 29.0
Gulf Bank Kuwait 0.37 4.2 4,742.5 (1.3)
National Real Estate Kuwait 0.16 3.8 10,417.6 5.2
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Oman Telecom. Co. Muscat 1.49 (4.5) 164.2 (1.3)
Abu Dhabi Nat. Energy Abu Dhabi 1.21 (4.0) 12,007.0 (17.7)
Mannai Corp. Qatar 94.50 (3.6) 1.2 5.1
Al Ahli Bank of Kuwait Kuwait 0.43 (3.4) 568.9 (2.3)
Ajman Bank Dubai 3.35 (3.2) 201.0 35.1
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%
Zad Holding Co. 78.10 (9.4) 76.0 12.4
Mannai Corp. 94.50 (3.6) 1.2 5.1
Mazaya Qatar Real Estate Dev. 13.65 (0.9) 1,474.6 22.1
Commercial Bank of Qatar 60.50 (0.8) 265.7 2.5
Widam Food Co. 44.70 (0.7) 241.4 (13.5)
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Mesaieed Petrochemical Holding 36.70 7.2 214,115.1 267.0
Barwa Real Estate Co. 36.30 1.5 127,023.6 21.8
Medicare Group 68.60 4.9 99,041.1 30.7
Industries Qatar 177.70 0.2 37,296.1 5.2
Islamic Holding Group 71.60 10.0 34,412.1 55.7
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* 11,331.46 0.2 (0.3) (3.7) 9.2 196.86 174,317.2 14.8 1.9 4.3
Dubai 4,383.20 0.9 1.9 3.9 30.1 369.34 87,915.1 19.1 1.6 2.2
Abu Dhabi 4,852.68 0.8 1.4 (2.1) 13.1 346.61 128,348.2 14.6 1.7 3.7
Saudi Arabia 9,449.92 0.2 1.6 3.8 10.7 1,955.68 513,436.9 19.4 2.4 3.2
Kuwait 7,592.04 0.1 0.5 (1.3) 0.6 131.15 114,467.6 16.1 1.2 3.8
Oman 6,925.96 (0.2) (0.1) (2.6) 1.3 19.15 24,720.7 11.2 1.6 3.8
Bahrain 1,354.95 (0.1) (2.3) (1.3) 8.5 0.66 51,493.3 9.4 0.9 5.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
11,200
11,250
11,300
11,350
11,400
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 0.2% to close at 11,331.5. The Real Estate
and Industrials indices led the gains. The index rose on the back
of buying support from non-Qatari shareholders despite selling
pressure from Qatari shareholders.
 Islamic Holding Group and Mesaieed Petrochemical Holding Co.
were the top gainers, rising 10.0% and 7.2% respectively.
Among the top losers, Zad Holding Co. fell 9.4%, while Mannai
Corp. declined 3.6%.
 Volume of shares traded on Wednesday rose by 6.9% to 16.7mn
from 15.7mn on Tuesday. Further, as compared to the 30-day
moving average of 14.1mn, volume for the day was 18.6%
higher. Mesaieed Petrochemical Holding Co. and Barwa Real
Estate Co. were the most active stocks, contributing 34.7% and
21.0% 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
DAMAC Real Estate
Development
S&P UAE
LT Foreign Issuer
Credit/ LT Local Issuer
Credit
– BB / BB – Stable –
Saudi Electricity Co. Fitch
Saudi
Arabia
LT IDR – AA-(EXP) – 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) (EXP – Expected Rating)
Earnings Releases
Company Market Currency
Revenue
(mn) 4Q2013
% Change
YoY
Operating Profit
(mn) 4Q2013
% Change
YoY
Net Profit (mn)
4Q2013
% Change
YoY
DAR AL TAKAFUL* Dubai AED 85.6 91.6 – – 0.8 NA
Gulf General Investment
Co.*
Dubai AED 1,719.0 (10.9) – – 110.0 NA
Abu Dhabi National Co. for
Build. Mat.*
Abu Dhabi AED 56.3 (70.1) – – (22.4) 2.9
Methaq Takaful Insurance
Co.*
Abu Dhabi AED 109.5 76.2 – – 2.6 NA
Source: Company data, DFM, ADX, MSM (*FY2013 results)
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
03/26 US MBA MBA Mortgage Applications 21-March -3.50% – 0.20%
03/26 US US Census Bureau Durable Goods Orders February 2.20% 0.80% -1.30%
03/26 US Markit Markit US Composite PMI March 55.8 – 54.1
03/26 US Markit Markit US Services PMI March 55.5 54 53.3
03/26 Germany GfK AG GfK Consumer Confidence April 8.5 8.5 8.5
03/26 Italy ISTAT Retail Sales MoM January 0.00% 0.10% -0.30%
03/26 Italy ISTAT Retail Sales YoY January -0.90% -1.60% -2.60%
03/26 Italy ISTAT Consumer Confidence Index March 101.7 98.4 97.7
03/26 Japan Bank of Japan Corporate Service Px Index YoY February 0.70% 0.80% 0.70%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QCB to issue T-bills worth QR4bn – The Qatar Central Bank
(QCB) will issue treasury bills for a period of three, six and nine
months on April 1, 2014. The total amount of issuance is worth
QR4bn. (QCB)
 ABank’s CEO to step down– The Commercial Bank of Qatar
(CBQK) announced that Hamit Aydogan, Chief Executive Officer
(CEO) and General Manager (GM) of Alternatifbank (ABank),
will be stepping down from his position effective from March 28,
2014. Muzaffer Ozturk, Executive Vice President & Head of
Business, will assume the role as the Interim General Manager.
The Bank is expecting to announce his successor shortly. (QE)
 MERS eyes strong growth with 15 new malls – Al Meera
Consumer Goods Company’s (MERS) Chairman HE Abdullah
bin Khalid al-Qhtani stated that the completion of nine malls this
year reflects MERS’ strong expansion growth as it plans to build
another 15 malls within the next two to five years. Al-Qahtani,
who is also the Minister of Public Health & Secretary General of
the Supreme Council of Health, said besides the nine malls
currently under construction, MERS is also building one leased
Overall Activity Buy %* Sell %* Net (QR)
Qatari 67.68% 71.40% (26,652,889.67)
Non-Qatari 32.32% 28.60% 26,652,889.67

3. Page 3 of 5
store, which is also set for completion this year. (Gulf-
Times.com)
 Indosat exits TBIG tower business for $122mn – Ooredoo
(ORDS) announced that its subsidiary, PT Indosat Tbk
(Indosat), has agreed to sell its remaining 5% of shares in PT
Tower Bersama Infrastructure Tbk (TBIG) for a total
consideration of $122mn. 239,826,310 of TBIG’s issued and
paid up share capital were placed via an accelerated book build
offering to institutional investors at a sale price of IDR5,800 per
share. The proceeds of the sale will be used to optimize
Indosat’s capital structure. The sale completes the equity
divestment process that began in August 2012, when Indosat
completed a sale and leaseback agreement with TBIG.
(GulfBase.com)
 CBQK joins hands with MPHC for dividend distribution –
Mesaieed Petrochemical Holding Company (MPHC) has
partnered with the Commercial Bank of Qatar for exclusive
distribution of its dividends to be declared for the period between
2013 and 2016. MPHC’s Chief Coordinator Khalid al-Subaey
said that the company has an obligation to its shareholders to
distribute dividends with optimum efficiency. For MPHC, this is
the maiden year for dividend distribution after its listing last
month. Commercial Bank has extended MPHC’s dividend
distribution channels through all its branches. (Gulf-Times.com)
 QInvest to refinance NWP’s unit Petainer Group – UK-based
Next Wave Partners (NWP) said it has obtained $45mn
refinancing from QInvest for its subsidiary, Petainer. The
refinancing from QInvest will provide capital for the development
of new facilities for Petainer as its business continues to grow in
new and existing markets. (Gulf-Times.com)
 UDCD approves 10% dividend, 5% bonus shares – The
United Development Company’s (UDCD) AGM has approved its
board of directors’ recommendation for distributing 10% cash
dividend. The EGM has approved the distribution of 16,861,250
bonus shares at the rate of 5%, raising the company’s paid-up
capital to QR3.54bn. (QE)
 QE deposits UDCD’s bonus shares – The Qatar Exchange
(QE) announced the addition of bonus shares to UDCD’s
shareholder accounts. With this, the company’s new capital
stands at QR3.54bn distributed over 354mn shares.
Shareholders can begin trading these shares from March 27,
2014. (QE)
 QA seeks acquisitions – Qatar Airways’ (QA) CEO Akbar al-
Baker said that he is pursuing acquisitions after reviving an
investment strategy that saw the company getting stake offers in
carriers including the Italian carrier, Alitalia. Al-Baker said the
second-biggest Gulf airline is actively discussing opportunities
with other passenger carriers. Al-Baker said QA has been
offered stake in unprofitable Greek carrier Olympic Airlines, Air
Seychelles and Air Serbia, while Alitalia, which has suffered
years of losses, has indicated its availability several times over
the past five years. (Gulf-Times.com)
International
 Fed: US jobless rate to fall below 6% this year – A US
Federal Reserve official said the unemployment rate in the US is
set to fall below 6% by the end of 2014, offering a bullish view
on the country's economy. James Bullard, President of the
Federal Reserve Bank of St. Louis, said that the outlook for the
US economy is quite good, despite dismal data from early in the
year. However, Bullard said that more progress is needed in the
labor market before US policymakers can consider raising the
interest rates. Bullard had previously advocated for a rate hike
as early as 2014, a stance he appears to have backed away
from. The tightening of the US monetary policy took center stage
last week after a policy meeting, where the Fed said it would
keep benchmark interest rates near zero for a considerable
time. However, it decided to wrap up a bond-buying stimulus
program, which it is widely expected to happen toward the end
of this year. (Reuters)
 Spanish economy to grow 1.2% in 2014 – The Bank of Spain
stated that the Spanish economy will grow by 1.2% in 2014 after
shaking off a long, job-destroying downturn. The central bank's
outlook for Spain –the Eurozone's fourth-largest economy –
paints a picture of gradual, modest recovery with stubbornly high
rates of unemployment. Following a 1.2% economic contraction
in 2013, the central bank said it was expecting a GDP growth of
1.2% this year and 1.7% in 2015. (ET)
 German consumer mood upbeat but Crimea casts a dark
cloud – Consumer morale in Germany held steady going into
April 2014 as shoppers were more upbeat about the outlook for
Europe's largest economy. However, their mood could worsen if
the Crimea crisis spreads and leads to tougher sanctions on
Russia from the West. The market research group, GfK’s
forward-looking consumer sentiment indicator was flat at 8.5
going into April. The indicator matched the highest reading since
January 2007 and was in line with the consensus forecast in a
Reuters poll. (Reuters)
Regional
 600,000 Saudi nationals flood job market annually – A senior
Labor Ministry official said some 600,000 young Saudi nationals,
who graduate every year and enter the job market, pose a big
challenge to the Saudi government for providing them with
employment. Abdul Monem Al-Shahri, Director of the Labor
Office in Makkah, said around 330,000 Saudi students graduate
from schools every year, while nearly 318,000 graduates
emerge from Saudi universities. He emphasized the need to
provide job-oriented education to solve the rising problem.
(Bloomberg)
 SABIC opens technology center in South Korea – The
Innovative Plastics business division of Saudi Basic Industries
Corporation’s (SABIC) has opened a new global technology
center in South Korea in partnership with the Sungkyunkwan
University in Suwon. The center will focus on research on
electronics, electrical and lighting technologies. (GulfBase.com)
 IDB approves $515.6mn to finance new projects – The
Islamic Development Bank’s (IDB) board has approved
$515.6mn to support various socio-economic development
projects in its member countries as well as Muslim communities
in non-member countries. The approvals are mainly in the
energy sector worth a total of $490mn, while the education
sector received $17.8mn. In the transport sector, the board
approved a $6mn technical assistance loan to the Republic of
Niger. Among other approvals was a $1mn emergency
assistance for the refugees from the Central African Republic
now living in neighboring countries. The board also approved
$780,000 as grant under the IDB Waqf Fund to Muslim
communities in non-member countries for four educational
projects in Bosnia and Herzegovina, Burundi, India and Malawi.
(GulfBase.com)
 GLC forms JV with Philips to manufacture LED lights –
Saudi-based General Lighting Company (GLC) and Philips
Lighting have formed a joint venture to provide a full range of
LED lighting solutions and strengthen GLC’s market position in
the Kingdom. The JV will focus on LED products, systems and
services for the entire lighting market and will manufacture
professional LED lighting fixtures. Under the agreement terms,

4. Page 4 of 5
Philips will acquire 51% of GLC from a consortium of
shareholders for a total amount of $235mn. Philips’ current
lighting activities in the Kingdom will be combined with GLC.
(Gulfbase.com)
 AHB reports 42% rise in net profit for 2013 – Al Hilal Bank
(AHB) stated that its net profit for 2013 reached AED441.4mn,
reflecting a 42% increase over AED310.3mn posted in 2012.
The record high net profit for the full year of 2013 is largely
attributed to growth in assets along with improvement in asset
quality and liability mix. Al Hilal’s assets stood at AED38.71bn at
the end of 2013, up 20% over 2012. Customer deposits
improved by 13% to AED28.2bn from AED25.0bn in 2012. In
addition, financings grew by 18.3% during 2013 to reach
AED27.1bn. The bank revealed that it is planning to open two
new branches in the UAE within the year; bringing the number of
branches to 24, including three overseas branches in
Kazakhstan. (Gulf-Times.com)
 DNIR to distribute 20% dividend – Dubai National Insurance &
Reinsurance’s (DNIR) AGM has approved to distribute 20% of
its paid-up capital of AED23.1mn. Shareholders who are
registered by the end of April 4, 2014 are eligible to receive
dividend. (DFM)
 du Telecom declares AED0.19 dividend for 2H2013 –
Emirates Integrated Telecommunications Company’s (du
Telecom) AGM has approved the distribution of cash dividends
of AED0.19 per share for 2H2013. (DFM)
 Nakheel plans two malls at Jumeirah, targets 15% rise in
profit in 2014 – Dubai-based Nakheel will build two new
shopping malls covering a total of 1.5mn square feet in its
Jumeirah Village complexes as part of its growing portfolio of
retail projects. The regional mall at Jumeirah Village Triangle will
feature a 15-screen cinema, a hypermarket, an entertainment
area, a department store, restaurants and cafes. The mall will
serve Nakheel’s communities including Al Furjan, Jumeirah
Park, Jumeirah Village as well as Al Barsha area and all other
surrounding areas in Dubai. The second mall will be located in
Jumeirah Village Circle and it will contain cinemas, a large
supermarket, retail outlets, restaurants and cafes. Meanwhile,
Nakheel’s Chairman said Ali Rashid Lootah said it is a targeting
a 15% increase in annual profit in 2014 as it launches new
projects and expands its leasing income. (GulfBase.com,
Peninsula Qatar)
 Etihad gets approval to buy 49% stake in Air Serbia; to raise
$2bn – Etihad Airways has secured the approval from Serbian
regulatory authorities to buy 49% stake in Air Serbia. Earlier,
Etihad had announced it would inject $200mn into Air Serbia to
become a minority stakeholder. Etihad’s initial loan of $40mn to
Air Serbia will now be converted to equity. The two airlines
already have a codeshare agreement with Air Serbia flying from
Belgrade to Abu Dhabi. Meanwhile, Etihad is planning to raise
$2bn to finance its fleet deliveries in 2014, which will include its
first A380 and Boeing 787 aircraft. Etihad will take delivery of 18
new aircraft this year that include 10 Airbus aircraft and 8
Boeing planes. (GulfBase.com) (Reuters)
 KFH appoints new chairman – Kuwait Finance House (KFH)
has appointed Dr. Sayyed Mohammad Al-Sayyid Abdul Razzaq
Al-Tabtabae as the company’s Chairman. (GulfBase.com)
 Al Maha declares 100% cash dividend – Al Maha Petroleum
Products Marketing Company’s (Al Maha) AGM has approved
the distribution of 100% cash dividend (OMR1 per share) for the
year ended December 31, 2013. The company’s EGM has
approved the amendment to increase the issued share capital
from 6.9mn shares to 69mn shares and the authorized share
capital from 8.5mn shares to 85mn shares. (MSM)
 ORPIC awards two contracts for plastics complex – Oman
Oil Refineries & Petroleum Industries Company (ORPIC) has
awarded two contracts for the construction of a $3.6bn plastics
production complex named the Liwa Plastics Project. ORPIC
said Engineers India Ltd will operate the project management
company, while the contract for front-end engineering & design
was given to Netherlands-based Chicago Bridge & Iron
Company. The plant will be built in Oman's northern industrial
city of Sohar, next to ORPIC's existing oil refinery. ORPIC said
the Liwa Plastics Project is due to be completed in 2018, which
will double ORPIC's profitability by allowing it to extract more
value from Omani crude oil and natural gas. ORPIC added that
the project will also boost its annual production of polypropylene
and polyethylene to 1.4mn tons, increasing Oman's exports,
while the additional production of 1mn tons of plastics will help in
developing downstream industries within the country. (Reuters)
 OFO re-launches operations after fire incident – The Oman
Fiber Optic Company (OFO) has re-launched its operations at
Rusayl Industrial Area headquarters. The company had to halt
its production line due to fire in its premises in 2012. The totally
renovated plant can now produce around 14,000 to 18,000 km
of optic fiber per year and is in an aggressive mode to expand to
other regions besides Europe and Africa. (GulfBase.com)
 PAEW: Sur Power Project to start within weeks – According
to the Omani Public Authority for Electricity and Water’s (PAEW)
Chairman, Mohammed bin Abdullah Al Mahrooqi, the Sur Power
Plant will begin operations within a few weeks. Built to meet the
growing demand for electricity in the Sultanate, the 2,000 MW
independent power project is owned by Phoenix Power
Company. With its launch, the country's total installed capacity
will reach 7,150 MW, which will be sufficient until 2018.
(GulfBase.com)
 IMF: Bahrain's banking sector in good health – The
International Monetary Fund (IMF) said the banking sector in
Bahrain is now in good health. Capitalization of the banking
system is high on average, with around 18% for retail banks and
22% for wholesale banks. The ratio of non-performing loans
(NPLs) to gross loans now ranges between 5-7% and has
continued on a downward trajectory in both retail and wholesale
banking. IMF said, while the Islamic retail banking segment has
been tackling its high NPLs, capital buffers for this segment
remain adequate at about 17%, with NPLs falling to about 13%
of gross loans. Bahrain has not been affected by the recent bout
of volatility in global financial markets. (Bloomberg)
 BCC declares 50% cash dividend, 20% bonus shares – The
Bahrain Cinema Company’s (BCC) AGM and EGM have
approved the distribution of 50% cash dividend (50 fils per
share) and 20% bonus shares. (Bahrain Bourse)
 BFM declares 10% dividend – Bahrain Flour Mills Company’s
(BFM) AGM has approved the distribution of 10% cash dividend
(10 fils per share) to its shareholders. (Bahrain Bourse)

5. Contacts
Saugata Sarkar Keith Whitney Sahbi Kasraoui
Head of Research Head of Sales Manager - HNWI
Tel: (+974) 4476 6534 Tel: (+974) 4476 6533 Tel: (+974) 4476 6544
saugata.sarkar@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
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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
160.0
170.0
180.0
Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13
QE Index S&P Pan Arab S&P GCC
0.2% 0.2% 0.1%
(0.1%) (0.2%)
0.8% 0.9%
(0.4%)
0.0%
0.4%
0.8%
1.2%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,304.47 (0.5) (2.3) 8.2 DJ Industrial 16,268.99 (0.6) (0.2) (1.9)
Silver/Ounce 19.77 (1.1) (2.7) 1.5 S&P 500 1,852.56 (0.7) (0.7) 0.2
Crude Oil (Brent)/Barrel (FM
Future)
107.03 0.0 0.1 (3.4) NASDAQ 100 4,173.58 (1.4) (2.4) (0.1)
Natural Gas (Henry
Hub)/MMBtu
4.42 (1.7) 2.5 1.8 STOXX 600 330.93 0.7 0.9 0.8
North American Spot LPG
Propane Price
103.88 0.6 0.1 (17.9) DAX 9,448.58 1.2 1.1 (1.1)
North American Spot LPG
Normal Butane Price
121.00 (0.2) 1.0 (10.9) FTSE 100 6,605.30 0.0 0.7 (2.1)
Euro 1.38 (0.3) (0.1) 0.3 CAC 40 4,385.15 0.9 1.2 2.1
Yen 102.04 (0.2) (0.2) (3.1) Nikkei 14,477.16 0.4 1.8 (11.1)
GBP 1.66 0.3 0.6 0.2 MSCI EM 968.23 1.0 2.5 (3.4)
CHF 1.13 (0.3) (0.2) 0.9 SHANGHAI SE Composite 2,063.67 (0.2) 0.8 (2.5)
AUD 0.92 0.7 1.6 3.5 HANG SENG 21,887.75 0.7 2.1 (6.1)
USD Index 80.03 0.1 (0.1) (0.0) BSE SENSEX 22,095.30 0.2 1.6 4.4
RUB 35.53 (0.2) (2.0) 8.1 Bovespa 47,965.61 (0.4) 1.2 (6.9)
BRL 0.43 0.3 0.9 2.6 RTS 1,198.89 2.5 5.5 (16.9)
162.8
148.1
135.1