The QE index in Qatar declined 0.2% led by declines in the real estate and transportation indices. United Development Co. and Islamic Holding Group were the top losers falling 4.1% and 3.3% respectively, while Gulf International Services rose 3.5%. Regional indices in Saudi Arabia, Dubai, Abu Dhabi and Kuwait rose, while Oman's index gained 0.3%. News from Qatar included proposals to establish an investment fund with Kazakhstan and requests from Egypt to extend gas payment terms and prices.

1. Page 1 of 5
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.2% to close at 9,071.9. Losses were led by the Real
Estate and Transportation indices, declining 2.1% and 1.2% respectively. Top
losers were United Development Co. and Islamic Holding Group, falling 4.1%
and 3.3% respectively. Among the top gainers, Gulf International Services rose
3.5%, while Al Meera Consumer Goods Co. gained 2.0%.
GCC Commentary
Saudi Arabia: The TASI index gained 0.1% to close at 7,326.9. Gains were
led by the Hotel & Tourism and Retail indices, rising 1.6% and 1.1%
respectively. Saudi Indian Co. for Cooperative Insurance rose 5.5%, while
Arabian Pipes Co. was up 5.3%.
Dubai: The DFM index rose 1.1% to close at 2,305.6. The Investment &
Financial Services index gained 2.2%, while the Real Estate & Construction
index was up 1.3%. Gulf General Investment Co. rose 8.4%, while Ajman Bank
was up 4.0%.
Abu Dhabi: The ADX benchmark index gained 1.2% to close at 3,469.1. The
Real Estate index rose 4.2%, while the Industrial index was up 3.6%. Abu
Dhabi Ship Building Co. surged 14.2%, while Arkan Building Materials Co.
rose 11.1%.
Kuwait: The KSE index rose 0.9% to close at 8,393.4. Gains were led by the
Technology and Parallel Market indices, gaining 3.5% and 2.3% respectively.
Al Safat Real Estate Co. rose 8.8%, while Equipment Holding was up 8.6%.
Oman: The MSM index gained 0.3% to close at 6,395.5. The Banking &
Investment index rose 1.0%, while the Industrial index was up 0.4%. Al Anwar
Holding gained 7.3%, while Ominvest was up 4.9%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Gulf International Services 42.75 3.5 407.5 42.5
Al Meera Consumer Goods Co. 137.00 2.0 163.9 11.9
Zad Holding Co. 59.50 1.5 10.1 1.2
Qatar Telecom 120.50 0.8 40.6 15.9
National Leasing 36.40 0.7 392.6 (19.5)
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
United Development Co. 20.50 (4.1) 1,751.3 15.2
Mazaya Qatar Real Estate Dev. 11.05 0.6 1,267.1 0.5
Barwa Real Estate Co. 25.95 (1.0) 852.2 (5.5)
Qatar Gas Transport Co. 17.56 (0.2) 676.9 15.1
Qatari Investors Group 25.25 0.6 531.1 9.8
Market Indicators 27 May 13 26 May 13 %Chg.
Value Traded (QR mn) 284.8 329.8 (13.6)
Exch. Market Cap. (QR mn) 503,226.6 503,220.7 0.0
Volume (mn) 9.0 9.1 (1.1)
Number of Transactions 4,298 4,843 (11.3)
Companies Traded 38 38 0.0
Market Breadth 13:19 22:11 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 12,961.67 (0.2) 0.3 14.6 N/A
All Share Index 2,308.63 (0.1) 0.3 14.6 12.5
Banks 2,139.93 (0.0) 0.4 9.8 11.6
Industrials 3,139.62 0.3 0.6 19.5 11.7
Transportation 1,640.11 (1.2) (0.4) 22.4 11.6
Real Estate 1,739.57 (2.1) (1.2) 7.9 11.5
Insurance 2,303.65 (0.8) 1.6 17.3 13.5
Telecoms 1,274.14 0.6 0.2 19.6 14.7
Consumer 5,548.02 0.1 0.0 18.8 19.2
Al Rayan Islamic Index 2,747.02 (0.4) 0.2 10.4 13.7
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Aldar Properties Abu Dhabi 2.01 5.8 63,175.0 58.3
Bank of Sharjah Abu Dhabi 1.78 4.7 244.9 39.1
Fawaz Alhokair & Co. Saudi Arabia 154.25 4.4 114.9 48.3
Ajman Bank Dubai 2.07 4.0 1,915.0 45.8
Investbank Abu Dhabi 2.40 3.9 635.4 48.1
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
United Dev. Co. Qatar 20.50 (4.1) 1,751.3 15.2
Emirates NBD Dubai 5.42 (3.4) 411.6 90.2
Qatar Navigation Qatar 72.90 (2.7) 161.9 15.5
Qatar Ind. Manu. Co. Qatar 51.00 (2.3) 0.2 (4.0)
Saudi Real Estate Co. Saudi Arabia 31.10 (2.2) 1,457.5 (4.6)
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%
United Development Co. 20.50 (4.1) 1,751.3 15.2
Islamic Holding Group 39.70 (3.3) 280.0 4.5
Qatar Navigation 72.90 (2.7) 161.9 15.5
Qatar Industrial Manufacturing Co. 51.00 (2.3) 0.2 (4.0)
Qatar Insurance Co. 64.20 (1.2) 21.8 19.0
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
United Development Co. 20.50 (4.1) 36,369.4 15.2
Industries Qatar 165.90 0.2 29,401.3 17.7
Al Meera Consumer Goods Co. 137.00 2.0 22,444.5 11.9
Barwa Real Estate Co. 25.95 (1.0) 22,260.5 (5.5)
Gulf International Services 42.75 3.5 17,153.7 42.5
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* 9,071.90 (0.2) 0.3 4.5 8.5 78.22 138,236.3 11.5 1.6 5.1
Dubai 2,305.56 1.1 (0.0) 8.0 42.1 174.06 63,925.3 14.8 0.9 3.7
Abu Dhabi 3,469.13 1.2 0.3 6.0 31.9 94.03 102,173.7 10.6 1.3 5.1
Saudi Arabia 7,326.93 0.1 (0.5) 2.0 7.7 1,253.42 393,641.7 15.6 1.9 3.8
Kuwait 8,393.35 0.9 2.9 13.0 41.4 387.97 112,545.3 25.7 1.5 3.2
Oman 6,395.53 0.3 0.5 4.4 11.0 26.50 22,518.4 11.1 1.7 4.4
Bahrain 1,177.74 (0.2) 0.6 6.7 10.5 1.52 20,997.2 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)
9,050
9,060
9,070
9,080
9,090
9,100
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 9,071.9. The Real
Estate and Transportation indices led the losses. The index
declined on the back of selling pressure from non-Qatari
shareholders despite buying support from Qatari shareholders.
 United Development Co. and Islamic Holding Group were the top
losers, falling 4.1% and 3.3% respectively. Among the top
gainers, Gulf International Services rose 3.5%, while Al Meera
Consumer Goods Co. gained 2.0%.
 Volume of shares traded on Monday declined by 1.1% to 9.0mn
from 9.1mn on Sunday. However, as compared to the 30-day
moving average of 8.6mn, volume for the day was 4.6% higher.
United Development Co. and Mazaya Qatar Real Estate Dev.
were the most active stocks, contributing 19.5% and 14.1% 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
Riyad Bank (RB) CI
Saudi
Arabia
BFSR/ LT FCR/ ST
FCR/ Support level
AA-/AA-/A1+/2
AA-/AA-
/A1+/2
– Stable –
National Bank of
Kuwait (NBK)
S&P Kuwait LT credit ratings A+ A+ – Stable –
National
Bank of Bahrain
(NBB)
CI Bahrain
LT FCR/ ST FCR/
BFSR/ Support level
BBB+/A2/A/1 BBB+/A2/A/1 –
Negative
/Stable*
–
Source: News reports (* LT – Long Term, ST – Short Term, BFSR- Bank Financial Strength Rating, FCR – Foreign Credit Rating, LCR – Local Currency Rating, ICR – Issuer Credit Rating) (*Rating for BFSR)
Earnings Releases
Company Market Currency
Revenue
(mn) 1Q2013
% Change
YoY
Operating Profit
(mn) 1Q2013
% Change
YoY
Net Profit (mn)
1Q2013
% Change
YoY
Tihama Advt. & Public
Relations Co. (TAPRCO)*
Saudi Arabia SR – – (0.3) N/A 1.0 (94.1%)
Oman Holdings International
Co. (OHIC)*
Oman OMR 0.5 N/A – – 3.1 N/A
United Paper Industries
(UPI)*
Bahrain BHD – – – – 1.0 112.8%
Source: Company data, Tadawul , DFM, ADX (*Financial results for the year ended March 31, 2013 )
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
05/27 UK Hometrack Hometrack Housing Survey (MoM) May 0.40% – 0.30%
05/27 UK Hometrack Hometrack Housing Survey (YoY) May 0.40% – 0.20%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 Qatar offers Kazakhstan to create a joint investment fund –
Qatar’s Minister of Economy & Finance Yousef Hussain Kamal
has made a proposal to Kazakhstan for establishing a joint
investment fund with equal contributions from both amounting to
$500mn. (Bloomberg)
 Egypt to request extension of payment from Qatar for its
gas – Egypt is planning to request for a payment term of five
months instead of one month as sought by the Qatari
government. The country plans to request paying average
Qatari export price rather than international spot market price,
as Egypt expects to import 300mn cubic feet per day from Qatar
via UK-based BG Group and Malaysia-based Petronas.
(Bloomberg)
 QNB Group: Qatar’s condensate production scales up;
proven gas reserves will last for 160 years – According to a
report by the QNB Group, Qatar’s condensate production rose
to 900,000 bpd in 2012 on the back of increased gas extraction
across various projects at the North Field. The report said that
the country’s crude oil production was estimated at 740,000 bpd
in 2012, while condensate output has overtaken oil production
and is expected to rise further. The report also said that Qatar’s
proven crude oil reserves are estimated at 2.3bn barrels, while
condensate reserves are estimated at 22.3bn in 2011. QNB
Group said the country’s oil production will get a boost from
Qatar Petroleum International’s 2012 decision to convert all
production-sharing agreements with foreign partners into JV.
The research also expects that reserves will be increased by an
additional 1bn barrels and production by 40,000 bpd by 2016.
Further, Qatar’s proven gas reserves are estimated at 885tn
cubic feet which will last for around 160 years at the 2011
production rates. Furthermore, the report said Qatar’s current
account surplus has expanded, driven by strong export growth
of 19% between 2008 and 2012. QNB Group said Qatar’s
imports grew by 17% in 2012 to $26bn. (Gulf-Times.com)
 QNB Group: Non-energy sector to drive Qatar’s real GDP
growth to 6.5% in 2013 – According to a report by QNB Group,
enhanced private sector activity stimulated by higher
Overall Activity Buy %* Sell %* Net (QR)
Qatari 69.62% 67.24% 6,772,845.91
Non-Qatari 30.38% 32.76% (6,772,845.91)

3. Page 3 of 5
government spending and steady growth in the non-oil & gas
sectors will drive Qatar’s real GDP growth to 6.5% in 2013 and
6.8% in 2014. The report said as the country’s oil & gas
production remains flat, major growth drivers will come from the
large scale infrastructure development program initiated by the
government, which will stimulate economic activity in
construction (13% growth), financial (8%) and services sectors
(9%) in 2013-14. The report added that Qatar’s nominal GDP
increased by 12% in 2012, in which the gas sector accounted for
42% of the total GDP aided by increase in both production and
energy prices. Moreover, the non-oil & gas sector also
witnessed strong growth at 13% during 2008-2012, supported
by manufacturing, financial and other services. Further, QNB
Group has forecasted the nominal GDP to increase by 4% in
2013 and decline by 1% in 2014, mainly due to lower oil price
assumptions. (Gulf-Times.com)
 QNB Group: 2013-14 budget may see a five-fold rise in
projected surplus to $10bn – According to a report by QNB
Group, Qatar’s 2013-14 budget may see a five-fold increase in
the projected surplus to $10bn. The group said the budgeted
surplus for 2013-14 stood at $2bn, which was based on a
conservative oil price assumption of $65 a barrel. The
government announced a record state budget for 2013-14, with
overall expenditures set to increase by 18% to $57bn and
revenues expected to increase by 6% to $60bn. The budget
surplus is expected to expand even as overall spending is
estimated to be 11% higher than budgeted, due to the ramp up
in infrastructure development to meet the time frame
requirements for the 2022 FIFA World Cup. (Gulf-Times.com)
 QNB Group: Qatar banking sector’s profitability metrics
remain strong – QNB Group said the “profitability metrics” in
Qatari banking sector remain strong with Stable outlook and
promising prospects, as government spending and global
expansion provide growth opportunities in 2013-14. Moreover,
the group said the net profit of Qatari banks increased by 7.5%
in 2012 to reach $4.4bn. The return on average equity stood at
17.5%, while the return on average assets was at 2.7%. Factors
like higher lending, a low cost base and low provisioning
requirements have supported the banks’ overall profitability. The
total banking sector assets stood at $225bn by the end of 2012.
(Gulf-Times.com)
 ERES unveils various projects; set to open QR1.5bn
complex – Ezdan Holding (ERES) has unveiled three of its
major projects namely: the Shamal Project, Rayan Towers and
Al Wakra Mall, which will be opened in 2014. ERES CEO Ali al-
Obaidali said it has invested QR2bn in the Shamal project
situated near Ezdan Mall Gharaffa, which includes a boutique
hotel with 220 rooms, 180 luxury villas and 170 luxury
apartments. He added that the Ezdan Mall Al Wakra will be
opened by February 2014, while Ezdan Mall Wukair will be
operational by 2015. He also revealed that Carrefour has signed
a partnership agreement with ERES to set up its retail
showrooms in Ezdan Malls. Meanwhile, the company has also
set to open a large housing complex, “Al Shamal Complex” that
will also boast a five-star hotel. The project will cost QR1.5bn
and it will be located along Al Shamal highway. The complex is
expected to open during the 4Q2013. However, the hotel will be
inaugurated by 1Q2014. (Gulf-Times.com, Peninsula Qatar)
 BRES plans $5.5bn Island to house World Cup fans – Barwa
Real Estate Company (BRES) is planning to build an island at a
cost of $5.5bn off the coast of Doha with floating hotels to house
soccer fans, who are expected to arrive in the country for the
Fifa World Cup in 2022. BRES’ plans for Oryx Island would
feature luxury villas, a water park, and five floating hotels using
cruise ships. BRES CEO Abdulla al-Subaie said the hotels
would be able to house as many as 25,000 visitors. Further, he
said the company will develop 260 apartments in Lusail City with
an investment of around QR1.4-1.6bn. (Reuters, Bloomberg)
 Barwa Bank acts as joint lead manager in ABT’s $200mn
sukuk – Barwa Bank has acted as the joint lead manager on
Albaraka Turk Participation Bank’s (ABT) $200mn Tier 2 sukuk.
This transaction represents the first sukuk Murabaha transaction
issued from Turkey in the international capital market. (Gulf-
Times.com)
 Ashghal floats tender for expansion of Al Khor Hospital –
The Public Works Authority (Ashghal) has floated a tender for
consultancy works related to Al Khor Hospital’s expansion. The
expansion plans include increasing the hospital’s area to 90,000
square meters. (Gulf-Times.com)
 NLCS’s BoD confirms appointment Alijarah Holding CEO –
The National Leasing Company’s (NLCS) board has confirmed
the appointment of Hamad Abdulla Shareef Al-Emadi as the
CEO of Alijarah Holding. (QE)
International
 S&P: France must deliver promised budget cuts to protect
rating – Ratings agency S&P said France needs to deliver on its
promised budget cuts if it wants to avoid a further downgrade in
its credit rating. S&P expects France will cut its budget deficit to
3.3% of GDP in 2014 from 3.8% in 2013, slightly more
pessimistic than the government, but more optimistic than the
European Commission's projections. (Reuters)
 EU to move spotlight from austerity to reforms – The
European Commission will further shift the EU's policy focus
from austerity to structural reforms in order to revive growth,
when it presents economic recommendations for each member
state on Wednesday. In its annual assessment as the guardian
of the EU's budget rules, the commission will state that while
fiscal consolidation should continue, its pace can be slower now
since investor confidence in the euro has been restored.
(Reuters)
 China needs 7% growth to hit per capita GDP target –
China’s Premier Li Keqiang said the country needs an average
annual economic growth of 7% to reach its goal of doubling per
capita gross national product by 2020. Li also described the
7.7% economic growth notched up in 1Q2013 as appropriate.
(Reuters)
Regional
 Saudi Aramco’s output rises to 9.51mn barrels a day in
2012 – Saudi Aramco’s production rose to 9.51mn barrels a day
of oil in 2012. Reserves stood at 260.2bn barrels. Daily output
for Saudi Aramco rose 4.8% from 2011, while the annual total
was 3.48bn barrels. Reserves of crude oil and condensates rose
from 259.7bn barrels the previous year, and deposits of natural
gas increased 0.8% to 284.8tn standard cubic feet. (Bloomberg)
 Adrees signs MoU with Swiss-based Bertschi – Adrees
Petroleum & Transport Services Company (Adrees) has signed
a MoU with Switzerland-based Bertschi to establish a JV
engaged in providing chemical logistics, transport management,
warehousing management, cleaning facility of chemical tanks
and related services. The new company will have independent
activities and operations and be managed by a joint team
derived from the two companies. (Tadawul)
 Alinma Tokio Marine get final approval from SAMA – Alinma
Tokio Marine has obtained final approval from the Saudi Arabian
Monetary Agency (SAMA) to sell its comprehensive motor

4. Page 4 of 5
insurance product and motor third party liability product.
(Tadawul)
 UAE Energy Minister: Crude oil prices suitable and fair –
The UAE Energy Minister Suhail Mohammed Al Mazrouei said
the current crude oil prices are suitable and fair, and are not
hurting consumers. He said the global oil demand is expected to
stay relatively weak in 2013 at around 800,000 bpd more than in
2012. (Bloomberg)
 India, UAE seek to boost investment, speed up BIPA
agreement – The governments of India and the UAE have
stressed on the need to raise investment profiles in each others’
countries. Both countries have also agreed to expedite the long-
awaited Bilateral Investment Promotion & Protection Agreement
(BIPA). (GulfBase.com)
 NASDAQ Dubai plans platform for trading sukuk and bonds
on-exchange – NASDAQ Dubai is preparing to open a new
exchange platform on which investors can trade sukuk and
conventional bonds. Trades will be automatically and exclusively
routed for settlement at Euroclear Bank. Tradable securities will
initially comprise at least 12 sukuk and bonds that are listed on
the exchange, with a nominal value of $10.9bn. The platform will
be available to institutional and high-net worth investors, and will
be gradually developed over the coming weeks. (GulfBase.com)
 Dubai airport posts double-digit growth for 9 months –
According to a report issued by Dubai Airports, the Dubai
International Airport (DIA) has registered nine straight months of
double-digit growth. The report showed that the airport recorded
5.4mn passengers in April 2013, up 18.7% compared to 4.6mn
in April 2012. The report said that April was the fifth consecutive
month with more than 5mn passengers passing through DIA. By
the end of April 2013, passenger traffic also increased by 16.3%
YTD to 21.9mn. (GulfBase.com)
 MoPW implements projects worth AED877mn within federal
investment program – The UAE’s Minister of Public Works
(MoPW) Abdullah Al Nuaimi said the total cost of projects
supervised by the ministry under the AED9.6bn federal
investment program for the 2013 public budget stands at
AED877mn. (Bloomberg)
 WRDC offers free land incentive for UAE developers in
Western Region – The Western Region Development Council
(WRDC) has offered nearly 4mn square feet of land in the
UAE’s Western region for free in an attempt to bring the much-
needed investment to the underdeveloped region. (Bloomberg)
 UAE banks to arrange Azerbaijan’s IBA’s $100mn murabaha
facility – The International Bank of Azerbaijan (IBA) is arranging
for a $100mn syndicated Murabaha financing facility with a tenor
of 18 months. UAE-based banks including Emirates NBD
Capital Limited, Barwa Bank, JP Morgan and Noor Islamic Bank
are mandated by IBA as the initial mandated lead arrangers and
book-runners. (Bloomberg)
 Emirates Transport revenue rises 11% in 1Q2013 – Emirates
General Transport & Services Corporation (Emirates Transport)
has reported 11% YoY increase in its revenue in 1Q2013.
(GulfBase.com)
 Drydocks handles AED500mn US tasks – Drydocks World
has handled more than AED500mn worth of US projects.
(GulfBase.com)
 Daewoo Shipbuilding wins $800mn deal from UAE – South
Korea-based Daewoo Shipbuilding & Marine Engineering
Company (DSME) has obtained a contract valued $800mn from
the UAE to build modules for offshore plants. Under the deal,
DSME will design, purchase or build modules for 22 production
facilities by 2017, which will account for about 40% of the total
modules needed for the entire project. The remaining 60%
modules worth about $1bn will be supplied by Daewoo's
consortium partner, Petrofac Emirates. Reportedly, the deal is
part of a $3.7bn project to create four artificial islands in the
waters off the UAE's northwestern region and build oil producing
facilities on the islands. (Peninsula Qatar)
 Jumeirah Group seeks to raise $1.4bn loan – Jumeirah
Group is planning to raise a $1.4bn syndicated loan, from which
part of proceeds will be utilized for its new hotels and the rest
will be given to its parent company, Dubai Holding to pay off its
bonds. Jumeirah Group has hired Standard Chartered, HSBC,
Abu Dhabi Commercial Bank to arrange for the loan.
(Bloomberg)
 ADTCA: 20% rise in guests for Abu Dhabi hotels – According
to the figures released by the Abu Dhabi Tourism & Culture
Authority (ADTCA), over 236,704 guests checked in at various
hotels in Abu Dhabi. This indicates a 20% YoY rise in April
2013, with guest nights jumping by almost a third to 738,797.
(GulfBase.com)
 Jet Airways to buy more Boeing planes amid AirAsia’s
entry in India – India-based Jet Airways, which has agreed to
sell a stake to UAE-based Etihad Airways, is planning to order
more Boeing Company’s 737 planes to expand its fleet. This
move comes as the carrier prepares to fend off competition from
AirAsia Airline that seeks to start operations in India in 2013.
(Bloomberg)
 Kuwait to invest $100bn in energy sector over 5 years –
Kuwait is planning to invest $100bn in energy projects over the
next five years, much of it will be spent on upstream projects
both at home and abroad. The country revealed its plans to build
a permanent floating LNG storage and re-gasification terminal to
cope with the rising domestic demand for gas. (Bloomberg)
 Kuwait, Oman sign $2.5bn accord on economic
development – Kuwait and Oman have signed an agreement
for the implementation of a grant worth $2.5bn provided by the
Government of Kuwait to the Government of Oman. The
agreement aims to finance joint projects both at the bilateral
level in Oman and at the GCC region level such as electrical
inter-connection projects, water supply, Gulf railway project and
infrastructure projects for industrial zones. (Bloomberg)
 Kuwait Petroleum sells naphtha cargo for June to Itochu –
Kuwait Petroleum Corporation (KPC) has sold about 25,000
metric tons of light naphtha to Itochu Corporation to be loaded
by the end of June 2013. KPC has sold the cargo at a premium
of $31-34 per ton over Middle East prices. (Bloomberg)
 OHIC’s board proposes OMR1.7mn cash dividend – The
Oman Holdings International Company’s (OHIC) board has
recommended to pay a cash dividend of OMR1.7mn (15% of the
paid-up capital) to its shareholders, at the rate of 15 baisas per
share for the year ended March 31, 2013. (MSM)
 National Motor to expand its Honda operations – Bahrain
Commercial Facilities' subsidiary, the National Motor Company
is set to expand its Honda operations overseas by opening a
new dealership in Erbil, Kurdistan. (Bahrain Bourse)
 Al Taweel completes 40% of road revamp work in Isa Town
– The Bahrain Ministry of Works said about 40% of the work on
the BHD554,717 Isa Town revamp project has been completed
by the contractor, Al Taweel Company. (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
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 Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
QE Index S&P Pan Arab S&P GCC
0.1%
(0.2%)
0.9%
(0.2%)
0.3%
1.2%
1.1%
(0.4%)
0.0%
0.4%
0.8%
1.2%
1.6%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,394.78 0.6 0.6 (16.7) DJ Industrial 15,303.10 0.0 0.0 16.8
Silver 22.68 1.3 1.3 (25.3) S&P 500 1,649.60 0.0 0.0 15.7
Crude Oil (Brent) 102.01 (0.2) (0.2) (9.6) NASDAQ 100 3,459.14 0.0 0.0 14.6
Euro 1.29 (0.0) (0.0) (2.0) DAX 8,383.30 0.9 0.9 10.1
Yen 100.96 (0.3) (0.3) 16.4 FTSE 100 6,654.34 0.0 0.0 12.8
GBP 1.51 (0.2) (0.2) (7.1) CAC 40 3,995.16 1.0 1.0 9.7
CHF 1.04 (0.2) (0.2) (5.0) Nikkei 14,142.65 (3.2) (3.2) 36.1
AUD 0.96 (0.2) (0.2) (7.3) Shanghai 2,293.08 0.2 0.2 1.1
USD Index 83.70 0.0 0.0 4.9 BSE Sensex 20,030.77 1.7 1.7 3.1
RUB 31.35 (0.1) (0.1) 2.7 Bovespa 56,395.94 (0.0) (0.0) (7.5)
BRL 0.49 (0.2) (0.2) (0.3) RTS 1,385.08 (0.2) (0.2) (9.3)
130.4
117.2
107.7