1. Page 1 of 6
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.2% to close at 9,608.3. Losses were led by the
Transportation and Real Estate indices, declining 1.2% and 0.6% respectively.
Top losers were Gulf International Services and Qatar Gas Transport Co.,
falling 1.8% and 1.5% respectively. Among the top gainers, Zad Holding Co.
rose 2.5%, while Islamic Holding Group gained 2.4%.
GCC Commentary
Saudi Arabia: The TASI index rose 0.2% to close at 7,964.9. Gains were led
by the Retail and Energy & Utilities indices, rising 1.4% and 0.7% respectively.
United Int. Trans. Co. rose 5.5%, while Al Jouf Agriculture Dev. was up 4.3%.
Dubai: The DFM index declined 0.3% to close at 2,762.5. The Services index
fell 1.2%, while the Telecommunication index was down 1.1%. Int. Financial
Advisors declined 9.6%, while Al Salam Group was down 9.4%.
Abu Dhabi: The ADX benchmark index rose 0.1% to close at 3,843.0. The
Consumer index gained 4.9%, while the Service index was up 2.8%. Int. Fish
Farming Holding Co. surged 14.9%, while FOODCO Holding gained 14.0%.
Kuwait: The KSE index declined 0.5% to close at 7,767.0. The Oil & Gas and
Consumer Services indices fell 1.2% each. Al Nawadi Holding Co. declined
8.1%, while Kuwait United Poultry Co. was down 7.0%.
Oman: The MSM index fell 0.5% to close at 6,646.9. Losses were led by the
Banking & Investment and Ind. indices, declining 0.4% and 0.2% respectively.
Al Sharqia Inv. Holding fell 2.3%, while Al Batinah Dev. & Inv. was down 2.2%.
Bahrain: The BHB index declined 0.1% to close at 1,193.9. The Services
index fell 1.6%, while the Commercial Banking index was down 0.2%. Bahrain
Telecomm. Co. declined 2.9%, while Ithmaar Bank was down 2.1%.
Qatar Exchange Top Gainers Close* 1D% Vol. „000 YTD%
Zad Holding Co. 66.40 2.5 4.7 12.9
Islamic Holding Group 42.00 2.4 10.8 10.5
Qatar & Oman Investment Co. 12.90 0.8 10.2 4.1
Qatar Fuel Co. 282.70 0.6 7.3 28.5
Industries Qatar 149.90 0.5 161.1 6.3
Qatar Exchange Top Vol. Trades Close* 1D% Vol. „000 YTD%
Masraf Al Rayan 28.75 0.2 4,403.6 16.0
United Development Co. 21.69 (0.4) 659.6 21.9
Qatar Gas Transport Co. 19.01 (1.5) 411.7 24.6
Barwa Real Estate Co. 25.00 (0.8) 254.5 (8.9)
Doha Bank 53.80 0.4 243.0 16.0
Source: Bloomberg (* in QR)
Market Indicators 30 Sep 13 29 Sep 13 %Chg.
Value Traded (QR mn) 283.4 278.5 1.8
Exch. Market Cap. (QR mn) 524,052.9 524,609.9 (0.1)
Volume (mn) 7.6 6.7 12.9
Number of Transactions 2,849 2,471 15.3
Companies Traded 37 38 (2.6)
Market Breadth 12:21 21:14 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,728.09 (0.2) 0.3 21.4 N/A
All Share Index 2,418.42 (0.2) 0.2 20.0 12.8
Banks 2,339.24 (0.1) 0.0 20.0 12.4
Industrials 3,051.76 (0.0) 0.7 16.2 11.2
Transportation 1,771.89 (1.2) 0.1 32.2 12.1
Real Estate 1,747.05 (0.6) 0.9 8.4 13.2
Insurance 2,233.44 (0.4) (0.5) 13.7 9.3
Telecoms 1,443.97 (0.2) 0.2 35.6 15.2
Consumer 5,872.36 0.5 (0.4) 25.7 24.1
Al Rayan Islamic Index 2,758.17 (0.1) 0.6 10.9 14.2
GCC Top Gainers##
Exchange Close#
1D% Vol. „000 YTD%
Nat. Marine Dredging Abu Dhabi 9.45 10.3 8.0 (5.5)
United Int. Trans. Co. Saudi Arabia 72.25 5.5 534.3 70.4
Yanbu Nat. Petrochem. Saudi Arabia 62.25 3.8 990.0 31.6
Fawaz Alhokair & Co. Saudi Arabia 135.00 3.1 351.6 94.7
Astra Industrial Group Saudi Arabia 45.60 2.9 502.4 16.9
GCC Top Losers##
Exchange Close#
1D% Vol. „000 YTD%
Investbank Abu Dhabi 2.18 (8.4) 137.1 34.6
Gulf Pharma. Industry Abu Dhabi 3.10 (7.2) 31.3 12.7
Taiba Holding Co. Saudi Arabia 42.70 (3.8) 1,903.3 71.8
Bahrain Telecomm. Co. Bahrain 0.34 (2.9) 36.8 (8.4)
Saudi Hotels & Resort Saudi Arabia 36.20 (2.4) 1,314.4 35.6
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%
Gulf International Services 50.10 (1.8) 106.3 67.0
Qatar Gas Transport Co. 19.01 (1.5) 411.7 24.6
Gulf Warehousing Co. 40.45 (1.3) 3.1 20.7
Aamal Co. 14.30 (1.2) 7.0 5.1
Qatar National Cement Co. 101.00 (1.0) 1.0 (5.6)
Qatar Exchange Top Val. Trades Close* 1D% Val. „000 YTD%
Masraf Al Rayan 28.75 0.2 126,755.1 16.0
QNB Group 166.80 (0.4) 30,273.2 27.4
Industries Qatar 149.90 0.5 24,030.5 6.3
United Development Co. 21.69 (0.4) 14,361.8 21.9
Qatar Islamic Bank 68.70 0.4 13,099.2 (8.4)
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* 9,608.32 (0.2) 0.3 (0.1) 14.9 77.84 143,904.9 12.1 1.7 4.8
Dubai 2,762.50 (0.3) 0.9 9.5 70.3 244.52 67,795.6 16.1 1.1 3.2
Abu Dhabi 3,842.98 0.1 0.1 2.9 46.1 85.02 110,112.7 10.9 1.4 4.7
Saudi Arabia 7,964.91 0.2 (0.2) 2.6 17.1 1,056.72 422,776.8 16.6 2.1 3.7
Kuwait 7,766.98 (0.5) (0.2) 1.8 30.9 149.09 110,580.1 18.7 1.3 3.6
Oman 6,646.85 (0.5) (0.2) (0.7) 15.4 22.78 23,257.1 11.0 1.6 3.9
Bahrain 1,193.93 (0.1) (0.3) 0.5 12.0 0.55 21,823.9 8.4 0.8 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)
9,590
9,600
9,610
9,620
9,630
9,640
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 6
Qatar Market Commentary
 The QE index declined 0.2% to close at 9,608.3. The
Transportation and Real Estate indices led the losses. The index
declined on the back of selling pressure from Qatari
shareholders despite buying support from non-Qatari
shareholders.
 Gulf International Services and Qatar Gas Transport Co. were
the top losers, falling 1.8% and 1.5% respectively. Among the
top gainers, Zad Holding Co. rose 2.5%, while Islamic Holding
Group gained 2.4%.
 Volume of shares traded on Monday rose by 12.9% to 7.6mn
from 6.7mn on Sunday. However, as compared to the 30-day
moving average of 8.6mn, volume for the day was 11.2% lower.
Masraf Al Rayan and United Development Co. were the most
active stocks, contributing 57.9% and 8.7% 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
09/30 EU Eurostat CPI Core YoY September 1.00% 1.10% 1.10%
09/30 France INSEE PPI MoM August 0.30% – 0.70%
09/30 France INSEE PPI YoY August -0.40% – 0.30%
09/30 Germany Destasis Retail Sales MoM August 0.50% 0.80% -0.20%
09/30 Germany Destasis Retail Sales YoY August 0.30% 0.60% 2.90%
09/30 Italy ISTAT PPI MoM August 0.20% – -0.40%
09/30 Italy ISTAT PPI YoY August -2.30% – -1.50%
09/30 China HSBC HSBC/Markit Manufacturing PMI September 50.2 51.2 50.1
09/30 Japan Markit Markit/JMMA Manufacturing PMI September 52.5 – 52.2
09/30 Japan METI Industrial Production MoM August -0.70% -0.30% 3.40%
09/30 Japan METI Industrial Production YoY August -0.20% 0.50% 1.80%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar
 QNB Group launches its new Business Banking program –
QNB Group has launched a new program called “Business
Banking”, which is an innovative product that supports national
economic development and comes in time to address mandates
of Qatar National Vision 2030. Business banking is an
innovative platform studded with detailed business oriented
solutions from QNB that will enable all current and future
business owners to expand or start a business by granting them
easy, convenient and quick access to finance their small to
medium businesses. (QNB Press Release & AME Info)
 QIBK contributes to co-finance Qatar Rail Red Line-North
underground project – Qatar Islamic Bank (QIBK) has
contributed to co-finance the Qatar Rail - Red Line North
underground project as part of a consortium of banks. This will
extend a club deal to the tune of QR2.1bn to a JV that is
constructing the Red Line North underground for Qatar
Railways. The club financing from the consortium, whose other
members are Barwa Bank and Union National Bank, is for the
JV among Impreglio, S K Engineering & Construction and Galfar
Al Misnad Engineering & Contracting. (QE, Gulf-Times.com)
 MERS, QATI replaces KCBK, MRDS on the QE Index – Al
Meera Consumer Goods Company (MERS) and the Qatar
Insurance Company (QATI) have replaced Al Khalij Commercial
Bank (KCBK) and Mazaya Qatar (MRDS) in the 20-stock QE
Index effective from October 1, 2013. Meanwhile, a total of 40
stocks have been included in the QE All Share Index calculation
as of October 1. Ahlibank Qatar has joined the index, while
Mannai Corporation has been removed. Further, Qatar National
Cement has joined the QE Al Rayan Islamic Index, which has
increased that index’s member count to 18. Ezdan is yet to
qualify for All Share inclusion. (QE)
 Qatar insurance market second fastest growing in Gulf –
According to a report by Moody's, Qatar, which is the third
largest insurance market in the Gulf region, has seen a CAGR of
17.9% over the last six years, making it the second fastest
growing insurance market. Despite this rapid growth, Qatar has
one of the lowest insurance penetrations in the region at 0.6% of
GDP and an insurance density of $695.9 as of 2012. Moody’s
said this implies that there is room for significant further growth
in the Qatari insurance market. (Gulf-Times.com)
 Global index ranks Qatar as top financial center in Middle
East – According to the latest Global Financial Centers Index
(GFCI) published by London-based Z/Yen Group, Qatar has
been ranked the top financial center in the Middle East region
with its standing moving six places up to 24. GFCI said Qatar’s
rating rose by 11 points, driven by the economy’s growth
prospects, improving infrastructure, international connectivity,
low employee taxation and a commitment to human
development. Meanwhile, regional rival Dubai declined two
places to 25th position in the world. Istanbul continued on its
strong performance to achieve 44th position (13 places up),
while Riyadh is ranked 47th over 33th in the previous round.
(Gulf-Times.com)
Overall Activity Buy %* Sell %* Net (QR)
Qatari 62.23% 67.46% (14,833,813.20)
Non-Qatari 37.77% 32.53% 14,833,813.20

3. Page 3 of 6
 QA honored at Business Traveller Asia-Pacific Awards –
Qatar Airways (QA) has been voted as the Best Middle East
Airline by readers of Business Traveller Asia-Pacific magazine in
China. The carrier has been recognized for the fourth
consecutive year at the Annual Business Traveller Asia-Pacific
Awards. (Gulf-Times.com)
 MRDS amends clip board as “Mazaya Qatar” – Mazaya Real
Estate Development (MRDS) has been amended on the clip
boards from “Mazaya” to “Mazaya Qatar” effective from October
1, 2013. (QE)
 QIGD to disclose its 3Q2013 results on October 9 – The
Qatari Investors Group (QIGD) will disclose its quarterly financial
results for the period ending September 30, 2013 on October 9,
2013. (QE)
 SIIS to publish its 3Q2013 financials on October 22 – Salam
International Investment (SIIS) will disclose its quarterly financial
results for the period ending September 30, 2013 on October
22, 2013. (QE)
 ORDS to disclose its 3Q2013 results on October 30 –
Ooredoo (ORDS) will disclose its financial results for 3Q2013 on
October 30, 2013. (ADX)
International
 US begins partial government shutdown as budget deadline
passes – The US government has begun a partial shutdown
after the Republican-led House of Representatives refused to
approve a budget for next year. A midnight deadline passed
without agreement despite a last-gasp appeal by President
Barack Obama. More than 700,000 US government workers
face unpaid leave with no guarantee of back pay once the
deadlock is over. (BBC)
 Portugal set to meet its 2013 deficit target – Portugal’s
National Statistics Institute (INE) said the country is on track to
meet its budget deficit target of 5.5% of GDP as stipulated under
the EU/IMF bailout but its debt is set to rise. INE said that the
country’s public deficit fell to 6.1% of GDP in 2Q2013 from 7% in
1Q2013, on the back of higher tax revenues and spending cuts
brought by austerity measures. INE maintained its forecast that
the deficit would stand at 5.5% of GDP at year-end, but the
country's total debt is seen rising to 127.8% of GDP in 2013,
higher than the forecast of 122.4% made by Portugal's creditors
in March 2013, and up from the actual 124.1% seen in 2012.
(Reuters)
 Spain's public debt to approach 100% of GDP by end-2014 –
According to its 2014 budget proposal, Spain's public debt will
rise to almost 100% of the national output by the end of next
year, the highest level in more than a century. The debt-to-GDP
ratio will rise to 99.8% by the end of 2014 from 94.2% currently.
Spain's debt stood at 92.2% of GDP at June 2013. Meanwhile,
Spain’s Treasury Minister Cristobal Montoro reiterated that more
austerity measures would not be necessary in 2014 to meet
fiscal targets set by the government, as the country is expected
to return to growth within this year. (Reuters)
 China‟s manufacturing tepid in September, small firms
struggle – China's manufacturing growth edged up only slightly
in September. The official Purchasing Managers' Index (PMI)
stood at 51.1 in September from 51.0 in August, slightly below
expectations in a Reuters poll of 51.5. With this, Chinese
factories have sent mixed signals on the extent of their latest
rebound. The data showed the sub-index for small firms stood at
48.4, down from 48.8 the previous month, while the sub-index
for large companies rose to 52.1 from 51.8. The overall new
orders sub-index rose to 52.8 from the previous month's 52.4,
with export orders at 50.7 over 50.2. (Reuters)
Regional
 OPEC‟s output reaches near 2-year low – According to a
survey of Reuters, the Organization of the Petroleum Exporting
Countries’ (OPEC) oil output has fallen in September to the
lowest point in almost two years, because of Libyan protests and
ongoing work at Iraq’s main export outlet. Supply from the
OPEC has averaged 30.07mn bpd, down from 30.32mn bpd in
August, although record Saudi Arabian output prevented a
larger decline. Despite signs of recovery, the Libyan output is
less than half what it was in early 2013 and the Nigerian
production is far below its potential, underlining the drag casued
by the internal strife in OPEC’s African members. (Gulf-
Times.com)
 Saudi Aramco‟s Al-Madi to replace Mufti as OPEC Governor
– According to sources, Saudi Arabian Oil Company’s Head of
the Korean unit Mohammed Al-Madi is set to replace Yasser
Mufti as the Kingdom’s OPEC Governor. Al-Madi will probably
take up the position next year as Mufti is stepping down by the
end of 2013. (Bloomberg)
 GCC telecom consortium establishes MEETS to cater to
bandwidth demand – A GCC-wide telecommunication
consortium has been formed to build a high-bandwidth regional
transmission cable system for the region. The new system
named “Middle East-Europe Terrestrial System” (MEETS) has
been conceived and co-promoted by Dubai-based Emirates
Integrated Telecommunications Company (du Telecom),
Vodafone Qatar (VFQS), Saudi-based Mobile
Telecommunications Company (Zain) and Kuwait-based Zajil
International Telecommunication Co. This consortium will
construct a 100 gigabit optical transport network on top of the
existing 1,400-kilometer long terrestrial fiber optic cable network
to cater to the growing bandwidth demand in the GCC region.
MEETS will cater to both regional and international telecom
companies, by meeting their wholesale capacity needs, while
providing a connection to new areas and end customers.
(GulfBase.com)
 Middle East remains favorite for fund managers despite
geopolitical threats – According to a survey by Reuters, fund
managers in the Middle East are set to pump in more money
into Saudi Arabia over coming months, but may withdraw some
funds from Dubai due to concern over its overheating market.
Half of the survey participants said they expect to increase their
overall equity allocations in the Middle East over the next three
months, while only 13% said they would decrease them. Fund
managers cited strong economic growth in the Gulf, which is
being aided by high oil prices and consumer spending booms in
many countries, as well as growing populations across the
Middle East. For many managers, these factors outweigh jitters
over geopolitical threats such as the civil war in Syria. (Gulf-
Times.com)
 Robust growth seen in GCC in 2014 despite cheaper oil –
According to Reuters, Gulf countries are likely to see their oil &
gas revenues drop in 2014, but heavy government spending and
increasingly energetic private sectors will keep their economic
growth robust. Global oil prices are expected to fall moderately
in 2014 as new supply comes on line from the US, Iraq and
other countries. Futures markets indicate lower prices next year.
This will probably push down hydrocarbon export revenues
throughout the Gulf. A Reuters poll of 15 analysts predicted that
Saudi Arabia's revenues would slip to a median $293.3bn in
2014 from $312.1bn in 2013. Nevertheless, with the exception of
Bahrain, state finances in the GCC region are expected to

4. Page 4 of 6
remain healthy enough for governments to boost their spending.
Saudi Arabia's fiscal surplus is projected to fall from a median
estimate of 8.1% of GDP in 2013 to a still-high 5.2% in 2014.
(Bloomberg)
 Egypt, Kingdom to sign deals for power grid project in
October – Egypt’s Electricity Minister Ahmed Emam said the
country will sign the commercial and operational agreements
needed to build a $1.6bn project linking the power grids of the
country with Saudi Arabia in October. Emam said the two parties
have already reviewed the technical terms of the project and
agreed to sign the agreements by the end of next month.
Expected to start operations in 2016, the power grid aims to
exchange 3,000 megawatts of electricity between the two
countries through direct-current electrical lines. (Gulf-
Times.com)
 KFMC signs deal with GE Healthcare to develop skills
training institute – King Fahad Medical City (KFMC) has
entered into an agreement with General Electric Healthcare to
set up a comprehensive Healthcare Skills Training Institute
within KFMC. This training institute will offer technical, clinical
and healthcare management courses and will be part of GE’s
$1bn investment commitment to the Kingdom. (GulfBase.com)
 Almarai completes hybrid bond offer; sells SR1.7bn sukuk –
Saudi Arabian dairy producer Almarai Company has completed
its first hybrid bond offer by selling SR1.7bn sukuk. The issue is
a perpetual sukuk, which in some ways resembles an equity
instrument and has no maturity date. The issuer can choose to
redeem the sukuk after five years. This issue has been priced at
200 basis points (bps) over three-month LIBOR, in line with the
previous guidance. If this sukuk is not redeemed, the profit rate
will increase by 750 bps. BNP Paribas, HSBC, Saudi Fransi and
Standard Chartered were the lead bankers for this issue.
(GulfBase.com)
 TASNEE inks deal with SAPCO for trial of its polymer plant
– The National Industrialization Company (TASNEE) announced
that Saudi Acrylic Polymers Company (SAPCO) has inked the
Mechanical Completion Certificate for its super-absorbent
polymers plant in preparation for an experimental operation.
(Tadawul)
 UAE‟s non-oil growth to reach 4.5% in 2013 – The UAE
Central Bank’s Governor Sultan bin Nasser Al Suwaidi said the
UAE’s non-oil economic growth is set to reach 4% to 4.5% by
the end of 2013 on the back of strong performance put up by the
services and tourism sectors. He added that the progress made
by the country in last few years has helped in overcoming the
effects of global economic crisis. The governor also pointed out
that the UAE’s non-oil GDP rose at a rate between 2.3% and
3.5% annually at constant prices. (GulfBase.com)
 UAE eager to launch GCC Customs Union by early 2015 –
The UAE Federal Customs Authority’s (FCA) Acting Director
General Khalid Al Bustani said the UAE is eager to witness the
full launch of the GCC Customs Union by early 2015 after
removing all the hiccups. He added the progress of the GCC
Customs Union has seen many important developments in
recent times that indicate the keenness of GCC countries to
overcome obstacles to the union’s full application. Meanwhile, Al
Bustani highlighted the positive impact of the union, noting that
the trade between the UAE and the GCC region has surged
405% to reach AED86.5bn in 2012 from AED17.1bn in 2003.
The trade volume in the 2003-12 period has reached
AED459.2bn, which includes AED195.8bn in imports;
AED97.1bn in exports and AED166.1bn in re-exports.
(GulfBase.com)
 Ras Al Khaimah plans to issue dollar denominated sukuk –
The Government of Ras Al Khaimah is embarking on a
roadshow to sell its dollar denominated sukuk. It has mandated
Citigroup, Standard Chartered, Mashreq Bank, the National
Bank of Abu Dhabi and Al Hilal Bank to arrange for investor
meetings in Singapore, Kuala Lumpur, Abu Dhabi, Dubai and
London between October 2 and 10. This issue is the RAK
government’s third one in its $2bn sukuk program. (Bloomberg)
 DTCM grants incentives to develop mid-range hotels in
Dubai – Dubai’s hotel investment industry has been granted a
financial incentive to develop more mid-range hotels in order to
increase the supply of three and four star properties in the
Emirate. This move is a part of the Department of Tourism &
Commerce Marketing’s (DTCM) strategy to achieve Dubai’s
2020 Tourism Vision’s aim to attract 20mn annual visitors to
Dubai by 2020. The hotels eligible for this incentive will be
granted a standard 10% concession on the municipality fee,
which is levied on the room rate for each night of the occupancy.
This initiative motivates hotel owners to bring forward their
construction timelines and quickly develop more three and four
star hotels. (GulfBase.com)
 DAFZ offers companies with two types of registrations –
The Dubai Airport Freezone (DAFZ) will offer two types of
registrations to companies: a Branch for companies who wish to
operate as an overseas branch of their mother companies and
Free Zone Establishment for companies who wish to register in
DAFZ as a separate entity. This move is a part of DAFZ’s aim to
facilitate business operations and meet tenants’ needs.
(GulfBase.com)
 Emirates starts daily flights to Philippines – The Emirates
Airlines has begun non-stop daily flights from Dubai to Clark
International Airport in the Philippines. This daily service will
benefit thousands of Filipino expatriates working in the UAE,
especially those based in Northern Luzon region. (Bloomberg)
 Nakheel to float tender for Nakheel Mall on October 2 –
Dubai-based property developer Nakheel will float a tender on
October 2 to construct the Nakheel Mall worth AED2.5bn on
Palm Jumeirah. The ground preparation and piling work for this
project is already underway, while the construction contract will
be awarded by the end of 2013. Due to open in 2016, this mall
will have 200 shops, a 4,200 square meter supermarket, two
anchor department stores, an indoor garden, a nine-screen
cinema theater and six medical clinics. It will also have three
levels of basement parking, 4,000 parking bays, and a 180-
meter high viewing deck with panoramic views of the Dubai
skyline. Meanwhile, Nakheel will also award a separate contract
to build a 50-storey five star hotel to be built alongside the
Nakheel Mall. (AME Info)
 DAMAC launches Paramount H&R serviced residences in
Kingdom – DAMAC Properties Company has launched its
Paramount Hotels & Resorts branded serviced residences tower
in Riyadh, Saudi Arabia. Built in Californian style, this tower
reflects the Hollywood glamour and features high-end
restaurants, a spa and a five-star hotel servicing. (AME Info)
 ENOC enters in JV with Tristar Transport to provide
logistics in Kingdom – The Emirates National Oil Company
(ENOC) has entered into a joint venture agreement with Tristar
Transport to provide specialized logistics services in Saudi
Arabia. This JV will have an initial capital outlay of SR30mn and
will operate a small fleet of vehicles in 2013 to support the
logistics requirements of the oil, gas and chemicals sectors in
the Kingdom. ENOC plans to expand the JV’s fleet strength to
500 vehicles by 2017. (AME Info)

5. Page 5 of 6
 Empower supplies 54,000 RT cooling for Dubai's hotel
industry – The Emirates Central Cooling Systems Corporation
(Empower) announced that it is currently supplying around
54,000 refrigeration tons (RT) for the hotel industry in Dubai,
which represents 15% of its total portfolio. Empower expects this
figure to increase further due to the increasing number of hotels
that are in pipeline to support Dubai’s 2020 Tourism Vision’s to
welcome 20mn tourists by 2020. (AME Info)
 DP World electrifies eight RTGs at Jebel Ali port – DP World
Limited has successfully converted eight diesel-powered Rubber
Tyred Gantry (RTG) cranes to electricity at Jebel Ali port. This
switch from fossil fuels to electricity will reduce the RTG’s
monthly diesel consumption by 109,000 liters on an average.
This in turn will further save DPW’s energy costs and reduce
carbon dioxide emissions by almost 2,000 tons of per year.
(AME Info)
 ADNOC delivers 2mn barrels to Korean storage – According
to Bloomberg, Abu Dhabi National Oil Company (ADNOC)
supplied 2mn barrels of crude oil to South Korea’s storage
facility in Yeosu, the first shipment since an oil stockpiling treaty
was signed in 2011. The deal allows the supplier to store 6mn
barrels of crude, which is equivalent to 2.7 days of the Asian
nation’s consumption. The remaining 4mn barrels will be
delivered within the next six months. (Gulf-Times.com)
 ADMA-OPCO signs AED6.2bn EPC contract with NPCC,
Technip France Consortium – Abu Dhabi Marine Operating
Company (ADMA-OPCO) has entered into an Engineering,
Procurement & Construction (EPC) contract worth AED6.2bn for
Umm Lulu Full-Field Development Project’s Package-2 with the
National Petroleum Construction Company (NPCC) and Technip
France Consortium. Under this contract, ADMA-OPCO will add
300mn barrels per day (mbpd) of additional output from its new
oil fields of UL, Nasr and Satah Al Razboot. This Project
Package 2 will provide a stand-alone oil production facility
consisting of a large offshore super complex of six bridge-linked
platforms. It also involves laying subsea composite power
cables that provide power and control signaling to six new
wellhead towers, which are part of Package 1 work, and two
existing wellhead towers. This contract is a part of ADMA-
OPCO’s overall strategy to raise oil production from 600,000
bpd to around 1mn bpd by 2020. (Bloomberg)
 TDIC begins to sell 70 apartments at Saadiyat Beach
Residences – The Tourism Development & Investment
Company (TDIC) has begun the sales of 70 apartments from the
second Phase of its Saadiyat Beach Residences, with prices
starting from AED1.4mn. This second phase comprises three
residential buildings inside an exclusive gated community. (AME
Info)
 Etisalat partners with Tata Communications to develop
MSRNI – The Emirates Telecommunications Corporation
(Etisalat) has entered into a partnership agreement with India-
based Tata Communications Limited to develop a multi-service
regional network infrastructure (MSRNI) accessed from
Etisalat's SmartHub facility in the UAE. This new MSRNI will
include a core network node in the Smarthub that will provide
improved connectivity between Etisalat's Multiprotocol Label
Switching, Ethernet & Internet Protocol services and Tata
Communications’ global network. This will enable direct routing
of traffic between the Middle East, Africa, Asia and Europe.
(AME Info)
 Etisalat Facilities signs MoU to reduce UAE‟s energy
consumption – Etisalat Facilities Management has entered into
a MoU with Etihad Energy Services and the Regulatory &
Supervisory Bureau for Water & Electricity to the reduce the
energy consumption in the UAE. (AME Info)
 Musanada completes Abu Samra Residential Complex –
The Abu Dhabi General Services Company (Musanada) has
completed all the infrastructure and housing works for its Abu
Samra Residential Complex project located in Al Ain. Musanada
will imminently hand over the project to the competent
authorities who will distribute the houses to eligible UAE
nationals. (AME Info)
 IMF cuts Kuwait growth forecasts – The International
Monetary Fund (IMF) has cut Kuwait’s growth forecast to 0.8%
in 2013 from 1.1%, and to 2.6% in 2014 from 3.1%. (Bloomberg)
 ADNIC opens new branch in Sharjah – The Abu Dhabi
National Insurance Company (ADNIC) has opened its new
branch in Sharjah. This new branch will provide insurance sales
and claims services to Sharjah and the northern Emirates.
ADNIC now has two regional offices, five branches and ten
sales & service centers across the UAE. (GulfBase.com)
 CBB‟s weekly T-bills oversubscribed by 122% – The Central
Bank of Bahrain’s (CBB) this week’s issue of BHD45mn treasury
bills has been oversubscribed by 122%. These bills carry a
maturity of 91 days and will mature on January 1, 2014. The
weighted average rate of interest is 0.80%, as compared to
0.79% for the previous issue. (AME Info)
 KHCB deploys electrical power to Oryx Hills project –
Khaleeji Commercial Bank (KHCB) has successfully deployed
electrical power to Oryx Hills project located in the Al Areen
area. This project has been developed by Surooh Real Estate
Company, an investment vehicle managed by KHCB. This
project consists of 70 high-end modern villas built to the highest
architectural standards. (Bahrain Bourse)

6. 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 6 of 6
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
0.2%
(0.2%)
(0.5%)
(0.1%)
(0.5%)
0.1%
(0.3%)
(0.8%)
(0.4%)
0.0%
0.4%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold/Ounce 1,328.94 (0.6) (0.6) (20.7) DJ Industrial 15,129.67 (0.8) (0.8) 15.5
Silver/Ounce 21.70 (0.4) (0.4) (28.5) S&P 500 1,681.55 (0.6) (0.6) 17.9
Crude Oil (Brent)/Barrel (FM
Future)
108.37 (0.2) (0.2) (2.5) NASDAQ 100 3,771.48 (0.3) (0.3) 24.9
Natural Gas (Henry
Hub)/MMBtu
3.49 (0.2) (0.2) 1.9 STOXX 600 310.46 (0.6) (0.6) 11.0
North American Spot LPG
Propane Price
106.75 0.7 0.7 19.3 DAX 8,594.40 (0.8) (0.8) 12.9
North American Spot LPG
Normal Butane Price
138.00 0.0 0.0 (20.2) FTSE 100 6,462.22 (0.8) (0.8) 9.6
Euro 1.35 0.0 0.0 2.5 CAC 40 4,143.44 (1.0) (1.0) 13.8
Yen 98.27 0.0 0.0 13.3 Nikkei 14,455.80 (2.1) (2.1) 39.1
GBP 1.62 0.3 0.3 (0.4) MSCI EM 987.46 (1.2) (1.2) (6.4)
CHF 1.11 0.1 0.1 1.2 SHANGHAI SE Composite 2,174.67 0.7 0.7 (4.2)
AUD 0.93 0.0 0.0 (10.4) HANG SENG 22,859.86 (1.5) (1.5) 0.9
USD Index 80.22 (0.1) (0.1) 0.6 BSE SENSEX 19,379.77 (1.8) (1.8) (0.2)
RUB 32.39 0.2 0.2 6.1 Bovespa 52,338.19 (2.6) (2.6) (14.1)
BRL 0.45 1.6 1.6 (7.6) RTS 1,422.49 (0.7) (0.7) (6.8)
138.1
125.4
114.0