The QE Index rose 0.1% to close at 10,776.0. Gains were led by the Insurance and Banks & Financial Services indices, gaining 0.8% and 0.5%, respectively.

1. Page 1 of 10
QSE Intra-Day Movement
Qatar Commentary
The QE Index rose 0.1% to close at 10,776.0. Gains were led by the Insurance and
Banks & Financial Services indices, gaining 0.8% and 0.5%, respectively. Top
gainers were Qatar General Ins. & Reins. Co. and Al Meera Consumer Goods Co.,
rising 2.0% and 1.6%, respectively. Among the top losers, Qatar Industrial
Manufacturing Co fell 1.4%, while Qatar Gas Transport Company Ltd. was down
1.3%.
GCC Commentary
Saudi Arabia: The TASI Index gained 0.4% to close at 10,778.1. Gains were led by
the Transportation and Real Estate Mgmt & Dev't indices, rising 1.3% and 1.2%,
respectively. Arriyadh Development Company and Raydan Food Co. were up 9.9%
each.
Dubai: The DFM Index fell 0.2% to close at 2,755.5. The Investment & Financial
Services index declined 1.9%, while the Telecommunication index fell 0.7%. Union
Properties declined 8.3%, while Ithmaar Holding was down 8.0%.
Abu Dhabi: The ADX General Index gained 0.5% to close at 7,079.5. The Investment
& Financial Services and Consumer Staples indices rose 2.5% and 1.2%. Al Qudra
Holding rose 14.7%, while Alpha Dhabi Holding was up 4.5%.
Kuwait: The Kuwait All Share Index gained 0.2% to close at 6,368.5. The
Telecommunications and Real Estate indices rose 0.3% each. Kuwait Foundry Co.
rose 9.2%, while Shuaiba Industrial Co. was up 7.2%.
Oman: The MSM 30 Index fell marginally to close at 4,085.5. The Services index
declined 0.4%, while the other indices ended in green. Global Financial Investments
declined 5.6%, while Voltamp Energy was down 4.8%.
Bahrain: The BHB Index rose 0.3% to close at 1,576.3. The Industrials index rose
0.5%, while the Financials index rose 0.4%. Nass Corporation rose 7.7%, while Ahli
United Bank was up 1.3%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar General Ins. & Reins. Co. 2.07 2.0 14.1 (22.2)
Al Meera Consumer Goods Co. 19.82 1.6 121.6 (4.3)
United Development Company 1.49 1.3 1,470.7 (10.0)
QNB Group 18.08 1.3 2,243.2 1.4
Qatari Investors Group 2.42 1.3 2,408.9 33.6
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Investment Holding Group 1.09 0.4 14,517.2 82.1
Salam International Inv. Ltd. 0.92 0.0 13,717.0 41.3
Qatar Gas Transport Company Ltd 3.05 (1.3) 6,197.6 (4.1)
Mazaya Qatar Real Estate Dev. 1.07 (0.6) 5,752.2 (15.0)
Qatar Aluminum Manufacturing Co 1.53 0.4 4,862.4 57.8
Market Indicators 14 Jul 21 13 Jul 21 %Chg.
Value Traded (QR mn) 219.1 239.2 (8.4)
Exch. Market Cap. (QR mn) 624,032.9 622,610.0 0.2
Volume (mn) 81.9 86.3 (5.1)
Number of Transactions 6,119 6,412 (4.6)
Companies Traded 46 48 (4.2)
Market Breadth 18:25 15:29 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 21,331.68 0.1 (0.6) 6.3 17.8
All Share Index 3,418.36 0.2 (0.4) 6.8 18.4
Banks 4,509.83 0.5 (0.0) 6.2 15.3
Industrials 3,600.39 (0.3) (1.1) 16.2 27.7
Transportation 3,412.56 (0.7) (2.5) 3.5 21.3
Real Estate 1,795.58 0.3 (0.9) (6.9) 17.0
Insurance 2,619.59 0.8 0.0 9.3 23.2
Telecoms 1,075.40 (0.2) 0.3 6.4 28.5
Consumer 8,108.88 0.3 (0.2) (0.4) 23.9
Al Rayan Islamic Index 4,539.59 0.1 (0.6) 6.3 19.2
GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Alpha Dhabi Holding Abu Dhabi 23.60 4.5 4,449.3 35.2
Emaar Economic City Saudi Arabia 12.56 3.6 7,876.1 36.4
Bank Al-Jazira Saudi Arabia 18.90 2.4 4,151.7 38.4
National Bank of Oman Oman 0.18 2.2 271.5 15.0
Banque Saudi Fransi Saudi Arabia 37.35 2.0 266.9 18.2
GCC Top Losers## Exchange Close# 1D% Vol. ‘000 YTD%
Bupa Arabia for Coop. Ins Saudi Arabia 130.60 (4.7) 93.1 6.9
Ahli Bank Oman 0.11 (2.7) 1,334.9 (13.4)
Jarir Marketing Co. Saudi Arabia 199.40 (2.5) 181.5 15.0
Abu Dhabi National Oil Co Abu Dhabi 4.33 (1.6) 7,695.9 15.5
Saudi Telecom Co. Saudi Arabia 127.20 (1.4) 369.4 21.0
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the S&P GCC
Composite Large Mid Cap Index)
QSE Top Losers Close* 1D% Vol. ‘000 YTD%
Qatar Industrial Manufacturing Co 2.80 (1.4) 116.2 (12.7)
Qatar Gas Transport Company 3.05 (1.3) 6,197.6 (4.1)
Qatar Islamic Insurance Company 8.10 (1.2) 1.5 17.4
Zad Holding Company 15.52 (1.1) 1.6 14.5
Widam Food Company 4.31 (1.0) 327.4 (31.9)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
QNB Group 18.08 1.3 40,205.3 1.4
Qatar Gas Transport Company 3.05 (1.3) 18,935.4 (4.1)
Investment Holding Group 1.09 0.4 15,891.5 82.1
Masraf Al Rayan 4.43 (0.1) 13,337.9 (2.2)
Salam International Inv. Ltd. 0.92 0.0 12,694.8 41.3
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 10,775.97 0.1 (0.6) 0.4 3.3 59.71 168,426.5 17.8 1.6 2.7
Dubai 2,755.45 (0.2) (0.9) (2.0) 10.6 34.60 103,801.1 20.9 1.0 2.9
Abu Dhabi 7,079.50 0.5 1.7 3.6 40.3 412.04 271,899.5 24.1 2.0 3.4
Saudi Arabia 10,778.07 0.4 (0.4) (1.9) 24.0 1,799.88 2,573,090.4 35.4 2.4 2.2
Kuwait 6,368.45 0.2 0.0 (0.3) 14.8 101.04 120,807.1 40.9 1.6 1.9
Oman 4,085.53 (0.0) (0.8) 0.5 11.7 12.48 18,754.7 14.2 0.8 3.8
Bahrain 1,576.28 0.3 (0.2) (1.0) 5.5 4.64 119,753.9 13.3 0.8 3.5
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
10,720
10,740
10,760
10,780
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 10
Qatar Market Commentary
 The QE Index rose 0.1% to close at 10,776.0. The Insurance and Banks
& Financial Services indices led the gains. The index rose on the back of
buying support from Qatari and GCC shareholders despite selling
pressure from Arab and foreign shareholders.
 Qatar General Ins. & Reins. Co. and Al Meera Consumer Goods Co. were
the top gainers, rising 2.0% and 1.6%, respectively. Among the top losers,
Qatar Industrial Manufacturing Co fell 1.4%, while Qatar Gas Transport
Company Ltd. was down 1.3%.
 Volume of shares traded on Wednesday fell by 5.1% to 81.9mn from
86.3mn on Tuesday. Further, as compared to the 30-day moving average
of 143.8mn, volume for the day was 43.1% lower. Investment Holding
Group and Salam International Inv. Ltd. were the most active stocks,
contributing 17.7% and 16.8% to the total volume, respectively.
Source: Qatar Stock Exchange (*as a % of traded value)
Earnings Releases, Global Economic Data and Earnings Calendar
Earnings Releases
Company Market Currency
Revenue (mn)
2Q2021
% Change
YoY
Operating Profit
(mn) 2Q2021
% Change
YoY
Net Profit
(mn) 2Q2021
%
Change
YoY
Arriyadh Development Co.* Saudi Arabia SR 63.0 -0.2% 38.3 -8.4% 143.4 29.2%
Aldrees Petroleum and
Transport Services Co.*
Saudi Arabia SR 2,173.2 23.5% 63.3 -0.2% 36.0 -8.6%
Al Madina Investment Co.* Oman OMR 0.0 70.8% – – (0.1) N/A
Al Jazeera Steel Products Co.* Oman OMR 66.3 -0.1% – – 4.6 3.6%
Oman Investment & Finance* Oman OMR 12.9 40.1% – – 2.0 3.5%
Al Madina Takaful Insurance* Oman OMR 16.4 8.0% – – (0.2) N/A
Gulf International Chemicals* Oman OMR 1.2 -9.9% – – 38.4 -54.0%
National Biscuit Industries* Oman OMR 13.4 4.5% – – 0.8 -10.6%
Construction Materials Industries
& Contracting*
Oman OMR 2.1 18.8% – – 0.3 895.0%
Oman Ceramic Co.* Oman OMR 0.8 -5.4% – – (0.3) N/A
Voltamp Energy* Oman OMR 11.7 -33.1% – – (0.4) N/A
Muscat Thread Mills* Oman OMR 1.8 51.8% – – 0.1 N/A
Financial Services Co.* Oman OMR 0.2 87.6% – – 0.0 N/A
Oman Fisheries Co.* Oman OMR 6.2 -8.6% – – (0.7) N/A
Oman Flour Mills Co.* Oman OMR 49.4 1.7% – – 6.2 -10.3%
Salalah Beach Resort#* Oman OMR 176.0 -65.8% – – (0.5) N/A
Oman Qatar Insurance* Oman OMR 15.8 13.8% 0.2 -51.9% 2.0 732.1%
Salalah Mills Co.* Oman OMR 30.5 16.0% – – 1.6 58.1%
Taageer Finance Co.* Oman OMR 9.5 7.3% – – 1.0 8.9%
United Finance Co.* Oman OMR 3.7 -5.5% 1.1 6.4% 0.0 412.5%
Computer Stationery Industry#* Oman OMR 415.0 -27.0% – – (168.4) N/A
Al Batinah Hotels#* Oman OMR 200.0 -4.7% – – (251.2) N/A
Renaissance Services* Oman OMR 53.0 -3.3% – – 5.4 -0.1%
Dhofar Generating Co.* Oman OMR 19.7 -8.2% – – 2.7 80.9%
Phoenix Power Co.* Oman OMR 72.1 9.3% 16.8 -6.1% 7.2 0.0%
SMN Power Holding* Oman OMR 39.9 8.5% – – 5.6 5.2%
Al Anwar Investments Oman OMR 1.2 96.2% – – 0.8 276.2%
Source: Company data, DFM, ADX, MSM, TASI, BHB. (#Values in Thousands, *Financial for 6M2021)
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 38.78% 37.29% 3,273,598.1
Qatari Institutions 18.79% 17.22% 3,455,364.7
Qatari 57.57% 54.50% 6,728,962.8
GCC Individuals 0.23% 0.36% (296,302.8)
GCC Institutions 1.33% 0.22% 2,422,737.0
GCC 1.55% 0.58% 2,126,434.2
Arab Individuals 10.10% 12.20% (4,608,051.4)
Arab Institutions 0.00% 0.00% –
Arab 10.10% 12.20% (4,608,051.4)
Foreigners Individuals 2.71% 2.62% 196,904.6
Foreigners Institutions 28.06% 30.09% (4,444,250.2)
Foreigners 30.77% 32.71% (4,247,345.6)

3. Page 3 of 10
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
07-14 US Mortgage Bankers Association MBA Mortgage Applications 09-Jul 16.00% – -1.80%
07-14 UK UK Office for National Statistics CPI MoM Jun 0.50% 0.20% 0.60%
07-14 UK UK Office for National Statistics CPI YoY Jun 2.50% 2.20% 2.10%
07-14 EU Eurostat Industrial Production SA MoM May -1.00% -0.30% 0.60%
07-14 EU Eurostat Industrial Production WDA YoY May 20.50% 22.20% 39.40%
07-14 Japan Ministry of Economy Trade and Industry Industrial Production MoM May -6.50% – -5.90%
07-14 Japan Ministry of Economy Trade and Industry Industrial Production YoY May 21.10% – 22.00%
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
Earnings Calendar
Tickers Company Name Date of reporting 2Q2021 results No. of days remaining Status
QNNS Qatar Navigation (Milaha) 15-Jul-21 0 Due
MCGS Medicare Group 15-Jul-21 0 Due
KCBK Al Khalij Commercial Bank 15-Jul-21 0 Due
NLCS Alijarah Holding 15-Jul-21 0 Due
QIIK Qatar International Islamic Bank 26-Jul-21 11 Due
CBQK The Commercial Bank 27-Jul-21 12 Due
BRES Barwa Real Estate Company 27-Jul-21 12 Due
GWCS Gulf Warehousing Company 27-Jul-21 12 Due
DHBK Doha Bank 27-Jul-21 12 Due
UDCD United Development Company 28-Jul-21 13 Due
QNCD Qatar National Cement Company 28-Jul-21 13 Due
ORDS Ooredoo 28-Jul-21 13 Due
QIMD Qatar Industrial Manufacturing Company 28-Jul-21 13 Due
QCFS Qatar Cinema & Film Distribution Company 01-Aug-21 17 Due
QIGD Qatari Investors Group 01-Aug-21 17 Due
QLMI QLM Life & Medical Insurance Company 02-Aug-21 18 Due
DOHI Doha Insurance Group 04-Aug-21 20 Due
QAMC Qatar Aluminum Manufacturing Company 05-Aug-21 21 Due
GISS Gulf International Services 05-Aug-21 21 Due
MPHC Mesaieed Petrochemical Holding Company 05-Aug-21 21 Due
IQCD Industries Qatar 05-Aug-21 21 Due
IHGS INMA Holding Group 08-Aug-21 24 Due
DBIS Dlala Brokerage & Investment Holding Company 09-Aug-21 25 Due
QISI Qatar Islamic Insurance Group 09-Aug-21 25 Due
IGRD Investment Holding Group 10-Aug-21 26 Due
MERS Al Meera Consumer Goods Company 11-Aug-21 27 Due
Source: QSE
News
Qatar
 ABQK posts 6.8% YoY increase, below our estimate – Ahli
Bank's (ABQK) net profit rose 6.8% YoY (but declined 34.7% on
QoQ basis) to QR121.9mn in 2Q2021, below our estimate of
QR170.8mn. Net Interest Income increased 37.1% YoY and
15.6% QoQ in 2Q2021 to QR297.1mn. The company's Total
operating income came in at QR366.7mn in 2Q2021, which
represents an increase of 29.6% YoY (+14.3% QoQ). The bank's
total assets stood at QR47.8bn at the end of June 30, 2021, up
9.3% YoY. However, on QoQ basis the bank's total assets
decreased 2.6%. Loans and Advances to Customers were
QR35.1bn, registering a rise of 9.8% YoY (+2.9% QoQ) at the
end of June 30, 2021. Customer Deposits rose 13.6% YoY to
reach QR28.3bn at the end of June 30, 2021. However, on QoQ
basis Customer Deposits fell 0.9%. EPS amounted to QR0.05 in
2Q2021 as compared to QR0.047 in 2Q2020. Commenting on
the results, Ahli bank CEO Hassan Ahmed AlEfrangi said: “The
bank achieved satisfactory results on the back of strong operating
performance. The bank delivered another stable result with all key
performance indicators showing positive trends. The bank also
successfully completed two strategic initiatives during the first six
months of 2021. “The first was the issuance of $300mn Additional
Tier 1 Capital in the international markets at a coupon of 4%. The
second was the successful completion of the fifth bond issuance
for $500mn under the bank’s $2.0bn EMTN Program in the
international debt capital markets at a competitive coupon rate of
2% and which was supplemented by a healthy geographical split
of international investors. This is again a vote of confidence from
international investors in both Ahli bank and the State of Qatar.
AlEfrangi added: “There has been an increase in the number of

4. Page 4 of 10
digital transactions through the bank’s digital channels with
customers completing their everyday banking services in an
advanced and secure way. The bank will continue to focus on
Qatarisation in line with the Qatar National Vision 2030.” (QNB
FS Research, QSE, Gulf-Times.com)
 QIBK's bottom line rises 14.4% YoY and 12.7% QoQ in
2Q2021, above our estimate – Qatar Islamic Bank's (QIBK) net
profit rose 14.4% YoY (+12.7% QoQ) to QR845.3mn in 2Q2021,
above our estimate of QR783.5mn (variation of +7.9%). Total net
income from financing and investing activities, net decreased
2.5% YoY in 2Q2021 to QR1,785mn. However, on QoQ basis
Total net income from financing and investing activities, net
gained 1.5%. The company's Total income came in at
QR2,012.1mn in 2Q2021, which represents a decrease of 0.8%
YoY (-4.2% QoQ). The bank's total assets stood at QR183.8bn at
the end of June 30, 2021, up 10.9% YoY (+2.0% QoQ). Financing
assets were QR127.0bn, registering a rise of 13.2% YoY (+1.5%
QoQ) at the end of June 30, 2021. Customers' current accounts
rose 10.0% YoY to reach QR17.9bn at the end of June 30, 2021.
However, on QoQ basis customers' current accounts fell 1.0%.
EPS amounted to QR0.36 in 2Q2021 as compared to QR0.31 in
2Q2020. Strict cost controls supported by higher operating
revenues enabled further enhancement of efficiencies with cost-
to-income ratio improving from 21.1% in January-June 2020 to
17.5% in the first half of 2021, the best in the Qatari banking
sector. QIB was able to maintain the ratio of non-performing
financing assets to total financing assets at 1.4%, reflecting the
quality of the bank’s financing assets portfolio. The bank
continued to create additional precautionary impairment charge
on financing assets for QR915mn for the six months’ period
ended June 30, 2021 against QR602mn set aside during the
same period last year. In-line with the bank’s conservative
impairment policy the coverage ratio for non-performing financing
assets, as of June 30, improved to 95.2% against 92.3% at the
end of December 2020. Total shareholders’ equity reached
QR19bn, up 13.1% compared to June 2020. Total capital
adequacy, under Basel III guidelines, is 18.4% at the end of June
2021, higher than the minimum regulatory requirements
prescribed by the Qatar Central Bank and the Basel Committee.
(QNB FS Research, QSE, Gulf-Times.com)
 QEWS's bottom line rises 21.2% YoY and 11.0% QoQ in
2Q2021, above our estimate – Qatar Electricity and Water
Company's (QEWS) net profit rose 21.2% YoY (+11.0% QoQ) to
QR412.7mn in 2Q2021, above our estimate of QR387.9mn
(variation of +6.4%). The company's Revenue came in at
QR574.4mn in 2Q2021, which represents a decrease of 8.2%
YoY (-0.2% QoQ). EPS amounted to QR0.38 in 2Q2021 as
compared to QR0.31 in 2Q2020 and QR0.34 in 1Q2021. (QNB
FS Research, QSE)
 VFQS's reports net profit of QR68.1mn in 2Q2021, above our
estimate – Vodafone Qatar's (VFQS) net profit rose 105.2% YoY
(+3.1% QoQ) to QR68.1mn in 2Q2021, above our estimate of
QR59.7mn (variation of +14.0%). The company's Revenue came
in at QR577.6mn in 2Q2021, which represents an increase of
8.7% YoY. However, on QoQ basis Revenue fell 1.3%. EPS
amounted to QR0.032 in 6M2021 as compared to QR0.019 in
6M2020. VFQS has reported an impressive 65.5% YoY growth in
net profit to QR134mn in the first half of this year. The profitability
was mainly driven by stronger EBITDA (earnings before interest
taxes depreciation and amortization), which grew 21.1% on a
yearly basis to QR472mn in the review period. The EBITDA was
“positively” impacted by higher service revenue and continued
cost optimization initiatives. The company's EBITDA margin
improved by 4.2 percentage points YoY to 40.6% in the review
period. Total revenue expanded by 8.5% YoY to QR1.16bn in
January-June this year, driven by continued growth in the
company’s postpaid revenue and fixed broadband services in
addition to higher handset sales. The services revenue was up
7.8% YoY to QR1.08bn in the first six months of this year. Total
number of mobile customers grew 3.9% YoY to QR1.71mn at the
end of June 30, 2021. (QNB FS Research, QSE, Gulf-Times.com)
 WDAM reports net loss of QR16.5mn in 2Q2021 – Widam Food
Company (WDAM) reported net loss of QR16.5mn in 2Q2021 as
compared to net profit of QR23.1mn in 2Q2020 and net profit of
QR1.0mn in 1Q2021. Loss per share amounted to QR0.09 in
6M2021 as compared to earnings per share of QR0.28 in
6M2020. (QNB FS Research, QSE)
 Confirmation of credit rating of DOHI at A- by S&P – Doha
Insurance (DOHI) has announced that S&P has confirmed the
credit rating at A-. We would like to inform you that Standard and
Poor’s Rating Services has announced on July 13, 2021, that
Doha Insurance Group Rating is affirmed at " A- " the outlook
remains stable. (QSE)
 WDAM signs an agreement – Widam Food Company (WDAM)
announced it has signed agreement with Qatar Charity and Qatar
Red Crescent to manage their charitable Adhiya Programs in
Sudan, Kenya and Somalia. In close collaboration with the offices
of Qatar Charity and Qatar Red Crescent in these countries,
WDAM is mandated to import, slaughter and prepare the Adhiya
in Sudan, Kenya and Somalia and to supervise the distribution of
eighteen thousand Adhiya in many cities. WDAM undertakes this
strategic alliance with Qatar Charity and Qatar Red Crescent as
practical translation of the State of Qatar intentions to strengthen
the international collaborations between national companies and
entities. WDAM has a large international network of import
sources which extends to more than 20 countries, a fact that
enables it to execute effortlessly such sizeable international
programs. It is worth mentioning that WDAM is the main importer
of livestock, chilled and frozen meat to the State of Qatar. The
Company runs the largest slaughterhouse in the Middle East
(QSE)
 ORDS announces date to pay interest to bondholders –
Ooredoo (ORDS) announced that Ooredoo International Finance
Limited (OIFL), its wholly-owned subsidiary, pursuant to the
Terms and Conditions of the Notes and the Final Terms, will pay
its Global Medium Term Note (GMTN) holders’ interest payment
on August 23, 2021. Issued by Ooredoo International Finance
Limited (the "Issuer") The Issuer a wholly owned subsidiary of
Ooredoo (ORDS) hereby gives notice that pursuant to the Terms
and Conditions of the Notes and the Final Terms, it will pay
Noteholders US $16,250,000 on the Interest Payment Date falling
due on August 23, 2021. (QSE)
 QCFS to disclose its semi-annual financial results on August
01 – Qatar Cinema & Film Distribution Company (QCFS) will
disclose its financial statement for the period ending June 30,
2021 on August 01, 2021. (QSE)
 QLMI to disclose its semi-annual financial results on August
02 – QLM Life & Medical Insurance Company (QLMI) disclosed
its financial statement for the period ending June 30, 2021 on
August 02, 2021. (QSE)
 QLMI to hold its investors relation conference call on August
08 – QLM Life & Medical Insurance Company (QLMI) will hold the
conference call with the Investors to discuss the financial results
for the semi-annual 2021 on August 08, 2021 at 01:00pm, Doha
Time. (QSE)
 MERS to disclose its semi-annual financial results on August
11 – Al Meera Consumer Goods Company (MERS) will disclose
its financial statement for the period ending June 30, 2021 on
August 11, 2021. (QSE)
 MERS to hold its investors relation conference call on
August 16 – Al Meera Consumer Goods Company (MERS) will

5. Page 5 of 10
hold the conference call with the Investors to discuss the financial
results for the semi-annual 2021 on August 16, 2021 at 01:30pm,
Doha Time. (QSE)
 DOHI to hold its investors relation conference call on August
09 – Doha Insurance (DOHI) will hold the conference call with the
Investors to discuss the financial results for the Semi-Annual
2021 on August 09, 2021 at 02:00 pm, Doha Time. (QSE)
 IQCD to hold its investors relation conference call on August
10 – Industries Qatar (IQCD) will hold the conference call with the
Investors to discuss the financial results for the semi-annual 2021
on August 10, 2021 at 01:30pm, Doha Time. (QSE)
 IQCD to disclose its semi-annual financial results on August
05 – Industries Qatar (IQCD) will disclose its financial statement
for the period ending June 30, 2021 on August 05, 2021. (QSE)
 GISS to disclose its semi-annual financial results on August
05 – Gulf International Services (GISS) will disclose its financial
statement for the period ending June 30, 2021 on August 05,
2021. (QSE)
 GISS to hold its investors relation conference call on August
09 – Gulf International Services (GISS) will hold the conference
call with the Investors to discuss the financial results for the semi-
annual 2021 on August 09, 2021 at 01:30pm, Doha Time. (QSE)
 MPHC to disclose its semi-annual financial results on August
05 – Mesaieed Petrochemical Holding Company (MPHC) will
disclose its financial statement for the period ending June 30,
2021 on August 05, 2021. (QSE)
 MPHC to hold its investors relation conference call on
August 08 – Mesaieed Petrochemical Holding Company (MPHC)
will hold the conference call with the Investors to discuss the
financial results for the semi-annual 2021 on August 08, 2021 at
01:30pm, Doha Time. (QSE)
 QAMC to disclose its semi-annual financial results on
August 05 – Qatar Aluminum Manufacturing (QAMC) will
disclose its financial statement for the period ending June 30,
2021 on August 05, 2021. (QSE)
 QAMC to holds its investors relation conference call on
August 11 – Qatar Aluminum Manufacturing (QAMC) will hold
the conference call with the Investors to discuss the financial
results for the semi-annual 2021 on August 11, 2021 at 01:30pm,
Doha Time. (QSE)
 DBIS to disclose its semi-annual financial results on August
09 – Dlala Brokerage and Investment Holding Company (DBIS)
will disclose its financial statement for the period ending June 30,
2021 on August 09, 2021. (QSE)
 Moody's announces completion of a periodic review of
ratings of QIIK – Moody's Investors Service ("Moody's") has
completed a periodic review of the ratings of Qatar International
Islamic Bank (QIIK) and other ratings that are associated with the
same analytical unit. The review was conducted through a
portfolio review discussion held on 12 July 2021 in which Moody's
reassessed the appropriateness of the ratings in the context of
the relevant principal methodology(ies), recent developments,
and a comparison of the financial and operating profile to similarly
rated peers. The review did not involve a rating committee. Since
1 January 2019, Moody's practice has been to issue a press
release following each periodic review to announce its
completion. Qatar International Islamic Bank (QIIK) A2/Prime-1
issuer ratings are driven by the bank's baa3 Baseline Credit
Assessment (BCA) and Moody's assessment of a very high
likelihood of support from the Government of Qatar (Aa3), in case
of need, which translates into four notches of uplift. QIIK's baa3
BCA reflects its solid solvency profile. The bank's strong franchise
as a leading Islamic financial institution in Qatar, particularly in
the retail segment supports its profitability. These strengths are
moderated by its high borrower and sector concentrations and the
risk management challenges stemming from rapid financing
growth. (Bloomberg)
 Moody's announces completion of a periodic review of
ratings of MARK – Moody's Investors Service ("Moody's") has
completed a periodic review of the ratings of Masraf Al Rayan
(MARK) and other ratings that are associated with the same
analytical unit. The review was conducted through a portfolio
review discussion held on 12 July 2021 in which Moody's
reassessed the appropriateness of the ratings in the context of
the relevant principal methodology(ies), recent developments,
and a comparison of the financial and operating profile to similarly
rated peers. The review did not involve a rating committee. Since
1 January 2019, Moody's practice has been to issue a press
release following each periodic review to announce its
completion. Masraf Al Rayan (MARK) A1/Prime-1 issuer ratings
are driven by its baa2 Baseline Credit Assessment (BCA) and
Moody's assessment of a very high likelihood of support from the
Government of Qatar (Aa3), in case of need, that results in four
notches of rating uplift. MARK's baa2 BCA reflects its strong
government-related franchise in Qatar, consistently strong asset
quality and solid and stable profitability that supports high
capitalization. These strengths are moderated by the bank's high
concentration in both assets and liabilities and its weakening
funding and liquidity. (Bloomberg)
 Moody's announces completion of a periodic review of
ratings of Dukhan Bank – Moody's Investors Service
("Moody's") has completed a periodic review of the ratings of
Dukhan Bank and other ratings that are associated with the same
analytical unit. The review was conducted through a portfolio
review discussion held on 12 July 2021 in which Moody's
reassessed the appropriateness of the ratings in the context of
the relevant principal methodology(ies), recent developments,
and a comparison of the financial and operating profile to similarly
rated peers. The review did not involve a rating committee. Since
1 January 2019, Moody's practice has been to issue a press
release following each periodic review to announce its
completion. Dukhan Bank (Dukhan) deposit ratings of A2/Prime-
1 incorporate a very high likelihood of support from the
Government of Qatar (Aa3), which translates into four notches of
uplift for the bank's long-term deposit ratings from its baa3
Baseline Credit Assessment (BCA). Dukhan's baa3 BCA
incorporates the banks strengthened domestic franchise as the
third-largest Islamic bank in Qatar and the sixth-largest Qatari
bank. The BCA also takes into account its solid profitability and
high capital metrics. These drivers are balanced by the high
concentration on both the asset and liability side of the balance
sheet and still relatively high reliance on market funding.
(Bloomberg)
 Qatar core inflation rises faster than CPI YoY in June – The
core inflation in Qatar continued to grow faster than the general
consumer price index (CPI) inflation YoY in June 2021, according
to the official statistics. The CPI of June 2021 excluding “housing,
water, electricity, gas and other fuels, surged 4.18% YoY, said
the figures released by the Planning and Statistics Authority.
Qatar's cost of living, based on CPI inflation, rose 1.98% YoY this
June (versus +2.47% in May) mainly on higher expenses towards
transport, restaurants, communication, furniture and food. On a
monthly basis, the country's CPI inflation was down 0.2%
compared to 0.17% in the review period. (Gulf-Times.com,
Bloomberg)
 Daewoo Ship wins 725.3bn Won fixed platform order from
Qatar – Daewoo Shipbuilding wins order from Qatar’s North Oil
Company. To complete building the fixed platform, which will be
used for expanding crude oil output in Al-Shaheen field, in
2H2023. Daewoo Ship has received ~6.13bn of orders for 16

6. Page 6 of 10
container ships, 11 very large crude oil carriers, 9 LPG carriers, 2
offshore plants and others. (Bloomberg)
 Qatar Chamber official lauds private sector role in
overcoming Covid-19 economic impact – The value of Qatari
exports, including exports of local goods and re-exports,
amounted to QR64.0bn, or an increase of QR4.5bn, during
1Q2021, said Qatar Chamber General Manager Saleh bin
Hamad Al-Sharqi, who lauded the private sector’s role against the
impact of Covid-19 on the national economy in an interview with
Qatar News Agency (QNA). The state's merchandise trade
balance data revealed a huge leap in May 2021, as the ratio
amounted to 211.4% on an annual basis (compared to May 2020)
and it recorded a monthly increase of 29.9% compared to April of
this year to reach QR16.6bn. The value of the total Qatari exports,
which includes exports of local origin and re-exports, rose
approximately to QR24.9bn, an increase of 87.8% compared to
May 2020, and 18.9% compared to April 2021. On the other hand,
the value of merchandise imports reached about QR8.3bn or a
4.7% YoY increase, and a monthly increase of about 1.7%
compared to April 2021. (Gulf-Times.com)
 Qatar economy remains resilient amid Covid-19 pandemic –
The impact of the Covid-19 crisis on the global economy has cast
a shadow on the Qatari economy, but the measures taken by the
State of Qatar and the economic stimulus packages for the
affected economic sectors contributed to the resilience of its
economy, as many indicators show. The proactive attitude and
quick adaptation to changes formed a basic pillar of the country's
plans and programs, and flexibility was adopted to be the main
approach in dealing with various regional and international
challenges, especially during the current situation witnessed by
all countries of the world following the pandemic and the drop in
oil and gas prices, as affirmed by HE the Minister of Commerce
and Industry and Acting Minister of Finance Ali bin Ahmed Al-
Kuwari on more than one occasion. Since the spread of Covid-19
in March 2020, the state adopted a set of flexible proactive
measures to prevent the spread of the virus, accompanied by
financial stimulus policies for the affected sectors at a value of
QR75bn, while exempting food and medical commodities from
customs duties for a period of six months as an early response to
future repercussions or consequences of the pandemic. These
policies had an important role in reviving the resilience of the
Qatari economy. Qatar Central Bank (QCB) also directed the
banks to postpone loan payments and its interest/profits for those
from the affected sectors covered by the decisions of the
Supreme Committee for Crisis Management for a period of six
months, as well as additional liquidity to banks operating in the
country. Qatar Development Bank (QDB) was directed to
postpone the instalments of all borrowers for a period of six
months. Government funds also increased their investments in
the stock exchange by QR10bn. This coincided with the State of
Qatar adopting a balanced monetary policy to face the
repercussions of the pandemic by reducing its main interest rates,
to include the official deposit rate, lending rate and the repurchase
rate, in addition to a set of measures to provide the necessary
liquidity for banks to face any possible recession. In mid-April this
year, the Cabinet approved additional support packages for the
sectors affected by the closures due to the precautionary
measures in place to deal with the spread of Covid-19. The
support packages included the exemption from electricity and
water fees for closed sectors until the end of September 2021,
the extension of the work of the National Guarantee Program at
QDB until the end of September 2021, and the extension of the
interest exemption period for an additional year for the National
Guarantee Program making it two years without interest, in
addition to two years of payment with interest that does not
exceed the QCB +2% rate. The packages also included raising
the limits of financing for salaries and wages for closed sectors to
QR15mn for a single personal card, while maintaining the rest of
the relevant terms and conditions, and QCB continuing to support
local banks' liquidity as needed. These policies were not the only
ones that contributed to the resilience of the Qatari economy in
the face of the coronavirus crisis, as it came at a time when the
country was moving forward in developing economic legislation
that reflected a forward-looking vision for the future, which
mitigated the repercussions of crises and challenges facing the
global economy. (Gulf-Times.com)
 Economic policies helped Qatar hurdle Covid-19 impact,
says Qatar Chamber official – The economic policies pursued
by the State of Qatar have proven their effectiveness during the
Covid-19 pandemic, as the Qatari economy was able to
overcome the negative effects of the health crisis and maintain its
flexibility and continue to attract more investment, said Qatar
Chamber general manager Saleh bin Hamad Al-Sharqi.
Economic activity began to return to pre-Covid levels, prompted
by the financial package approved by the government with the
aim of helping the private sector overcome the crisis, Al-Sharqi
told Qatar News Agency (QNA). (Gulf-Times.com)
 Cabinet approves holiday homes as hotel enterprises
establishments – The Cabinet Wednesday approved a draft
decision of the Chairman of Qatar for Tourism to consider holiday
homes as hotel establishments. Under the project, holiday homes
are considered hotel establishments, in accordance with the
provisions of Law No. 20 of 2018 regarding tourism regulation and
its provisions apply. Holiday homes mean furnished housing units
prepared for residence, and provided with utilities, whether they
are rooms, apartments, houses, villas or camps, and they are
rented as a complete or divided unit on a daily or weekly basis or
any temporary period not exceeding 30 consecutive days. (Gulf-
Times.com)
 Amiri Diwan announces Eid holiday – The Amiri Diwan
Wednesday announced that the Eid holiday will be as follows: For
ministries, other government entities and public institutions, the
holiday starts on Sunday July 18 and ends on Sunday July 25.
Employees are to resume work on Monday Dhu al-Hijja 16, 1442
H, corresponding to July 26, 2021. As for Qatar Central Bank
(QCB), banks and financial institutions working under the
supervision of QCB and Qatar Financial Markets Authority
(QFMA), HE the Governor of Qatar Central Bank shall specify the
start and the end of the holiday. (Gulf-Times.com)
 Qatari-Saudi Al-Ula follow up committee holds fourth
meeting – The Qatari-Saudi Follow-up Committee held its fourth
meeting to discuss developments in implementing the
reconciliation clauses agreed upon by the two countries at the Al-
Ula Summit. The Qatari Foreign Ministry website stated that the
Qatari-Saudi Follow-up Committee held its fourth meeting today
at the General Court of the Qatari Ministry of Foreign Affairs.
(Bloomberg)
International
 US producer prices post biggest annual increase in more
than 10-1/2 years – US producer prices accelerated in June,
leading to the largest annual increase in more than 10-1/2 years,
suggesting inflation could remain high as robust demand fueled
by the economy’s recovery from the COVID-19 pandemic strains
the supply chain. The report from the Labor Department on
Wednesday followed on the heels of news on Tuesday that
consumer prices increased by the most in 13 years in June. There
are, however, signs that inflation is close to peaking. Underlying
producer prices rose at a moderate pace on a monthly basis in
June. Federal Reserve Chair Jerome Powell, in remarks
prepared for delivery at a congressional hearing on Wednesday,
said “inflation has increased notably and will likely remain

7. Page 7 of 10
elevated in coming months before moderating.” Powell has long
maintained that high inflation is transitory, a view shared by most
economists and the White House. The producer price index for
final demand increased 1.0% last month after rising 0.8% in May.
A 0.8% jump in the cost of services accounted for nearly 60% of
the increase in the PPI. Services rose 0.6% in May. Goods prices
climbed 1.2% after accelerating 1.5% in the prior month. In the 12
months through June, the PPI surged 7.3%. That was the biggest
YoY rise since November 2010 and followed a 6.6% advance in
May. Economists polled by Reuters had forecast the PPI would
increase 0.6% in June and rise 6.8% on a year-on-year basis.
Higher commodity prices and increased labor costs due to a
shortage of willing workers are driving inflation at the factory gate.
Very low inventory levels because of supply chain issues are
making it easy for producers to pass on the costs to consumers.
Sectors at the center of the economy’s reopening have seen large
price increases, though there were signs in June that inflation was
broadening to other segments. (Reuters)
 US producer prices surge more than expected in June – US
producer prices increased more than expected in June,
suggesting inflation could remain high as robust demand fueled
by the economy’s recovery from the COVID-19 pandemic
continues to strain the supply chain. The producer price index for
final demand increased 1.0% last month after rising 0.8% in May,
the Labor Department said on Wednesday. In the 12 months
through June, the PPI surged 7.3%. That was the biggest year-
on-year rise since in November 2010 and followed a 6.6%
advance in May. Economists called by Reuters had forecast the
PPI increasing 0.6% in June and rising 6.8% YoY. Higher
commodity prices and increased labor costs due to a shortage of
willing workers are boosting inflation at the factory gate. With
inventories at very low levels because of supply chain issues,
producers are easily passing on the higher cost to consumers.
The government reported on Tuesday that consumer prices
increased by the most in 13 years in June. Inflation has largely
been driven by sectors at the center of the economy’s reopening,
though there were signs in June that it was broadening to other
segments. Federal Reserve Chair Jerome Powell is due to
present the semiannual Monetary Policy Report to the US
Congress later on Wednesday and financial markets’ attention
will be on his view of the latest inflation data. (Reuters)
 MBA: US mortgage applications rise in latest week as rates
fall – The number of applications for home mortgages increased
last week driven by an increase in refinancing activity and an
uptick in purchase activity as mortgage rates fell. The Mortgage
Bankers Association (MBA) said on Wednesday its seasonally
adjusted market index rose 16.0% in the week ending on July 9
from a week earlier. This reflected a 20.4% increase in
applications to refinance existing loans and an 8.3% rise in
applications to purchase a home. The average contract interest
rate for traditional 30-year mortgages decreased to 3.09% last
week, the lowest level since February, from 3.15% the prior week.
This week’s data included an adjustment for the Fourth of July
holiday. This week’s data comes just one week after the number
of applications for home mortgages decreased to the lowest level
since January 2020. Rising home prices combined with
insufficient supply has continued to weigh on the housing market.
(Reuters)
 UK inflation tests BoE as it jumps to highest since 2018 –
British inflation surged further above the Bank of England’s target
in June to strike 2.5%, its highest since August 2018, increasing
speculation that the BoE will have to consider sooner whether to
ease off its huge stimulus program. Prices for food, fuel, second-
hand cars, clothing and footwear rose as the economy bounced
back from its lockdown slump, the Office for National Statistics
here said. The jump was sharper than forecast by economists in
a Reuters poll, who had mostly seen CPI edging up to 2.2% from
May's 2.1%, and comes a day after US inflation here hit its highest
in 13 years at 5.4%. Sterling strengthened against the dollar and
euro. Two-year British government bond yields, which are
sensitive to short-term inflation and interest rates, touched a
three-week high. Most central bankers think the global surge in
inflation will be temporary, and reflects supply-chain bottlenecks
as Western economies emerge from the coronavirus pandemic.
BoE Deputy Governor Jon Cunliffe said the central bank would
take a closer look at how persistent inflation was likely to be when
it publishes forecasts next month, but that much of the increase
was linked to the reopening of the economy. (Reuters)
 German retailers support face masks, fear new lockdown –
German retailers still support the wearing of face masks in stores
as they worry about another wave of the coronavirus pandemic
possibly leading to new restrictions, an industry association said
on Wednesday. Asked for his reaction to the decision by the
German state of Saxony to lift the obligation to wear masks in
stores, Genth said: “We warn against giving up such things too
early.” Germany reported 1,548 new coronavirus cases on
Wednesday, 563 more than a week ago, to bring the total to 3.74
million. The death toll rose by 28 to 91,287. Chancellor Angela
Merkel warned on Tuesday that more people needed to be
vaccinated against COVID-19 before restrictions could be lifted,
following news that England will scrap nearly all curbs from next
week. German retailers expect to record a 1.5% rise in sales in
2021, assuming no further lockdowns, the HDE forecast on
Wednesday, driven by a 3.1% increase in food sales, while the
rest of the sector is set to record a 4.2% decline. Fashion stores
have been particularly hard hit, with sales still expected to be
down 37% in 2021 compared to 2019 before the pandemic hit.
Online sales are expected to rise by around 20% this year to just
over 87bn Euros ($103bn), the HDE said, up from a previous
forecast for 17% growth. HDE said three quarters of retail
companies in Germany reported lower revenue in the first half of
the year due to lockdowns. (Reuters)
 Ministry: German economic recovery at full swing –
Germany’s economic recovery from the COVID-19 crisis is at full
swing, and the outlook for the industry remains positive despite
supply bottlenecks for intermediate products, the German
Economy Ministry said on Wednesday. “The supply bottlenecks
for intermediate products ... have a dampening effect, however
they do not impair the positive underlying dynamic of the overall
economy,” the ministry said in its monthly report. The ministry
said it expects inflation to reach 3% or more in the second half of
2021 due to a base effect from a temporary VAT cut last year that
was part of the government’s stimulus program to help the
economy recover from the coronavirus shock. Inflation will ease
significantly in 2022, it added. (Reuters)
 China's new home prices growth slows slightly in June –
New home prices in China rose at a slower pace in June, data
showed on Thursday, as government measures to cool the
heated housing market further tapped the brakes on growth.
Average new home prices in 70 major cities grew 0.5% in June
from a month earlier, down from a 0.6% rise in May, according to
Reuters calculations based on data released by the National
Bureau of Statistics. Compared with a year earlier, new home
prices rose 4.7%, slower than a 4.9% uptick in May. Chinese
house prices have risen rapidly this year, prompting the
government to take a raft of measures to rein in the market
including curbing debt accumulation by developers, capping
banks’ lending to the sector and guiding banks to increase
mortgage rates. But the moves are starting to drag on the
property sector, a vital source of growth for the economy.
(Reuters)

8. Page 8 of 10
 Brazil lifts growth forecast, hopes to raise $20bn with tax
reforms – Brazil is hoping to raise 100bn Reais ($19.64bn) with
a much-awaited income tax reform proposal, Economy Minister
Paulo Guedes said on Wednesday, as the government sharply
raised its economic growth forecast for 2021. Brazil’s economy
ministry on Wednesday said gross domestic product in Latin
America’s largest economy should grow 5.3% this year, up from
its previous forecast of 3.5%. It also raised its 2021 inflation
expectations to 5.90% from a previous forecast of 5.05%. Still,
the central bank, which operates independently of the ministry,
said earlier on Wednesday that Brazil’s economy had shrunk in
May, surprising economists who had expected it to grow. The
IBC-Br economic activity index, a leading indicator of GDP, fell a
seasonally adjusted 0.43% in May, compared with the median
forecast of a 1.00% rise in a Reuters poll of economists. Overall,
the revisions and announcements show that Brazil’s government
is bullish on the economic recovery, despite the fact that the
country is suffering one of the worst death tolls in the world due
to the coronavirus pandemic. Guedes told reporters Brazil had
already raised 100bn Reais in tax revenue in excess of
expectations, and that an income tax reform proposal presented
this week would raise another 100bn Reais. The proposal will
lower Brazil’s corporate income tax, but add taxation on corporate
dividends and reduce subsidies to generate additional tax
revenue, Guedes said. Corporate taxes could be reduced by as
much as 12.5 percentage points, Guedes said, from a current
corporate income tax of 34%. Guedes stressed that he does not
want to tax companies, but rather tax the “rich owners” who
benefit from the profits of those companies. Currently, Brazil does
not tax dividend income. The reform has been presented to
Congress, which still needs to discuss it, and could significantly
modify it. (Reuters)
Regional
 Saudi, UAE reach compromise to unlock more oil supply,
says source – Saudi Arabia and the United Arab Emirates have
reached a compromise over OPEC+ policy, an OPEC+ source
said on Wednesday, in a move that should unlock a deal to supply
more crude to a tight oil market and cool soaring prices. Brent oil
prices fell on the news by as much as $1 per barrel towards $75
per barrel after Reuters reported the two major OPEC producers
had agreed a deal. In a statement on Wednesday, the UAE
energy ministry said that a deal with OPEC+ on its baseline is yet
to be reached and that deliberations are continuing. The OPEC,
Russia and their allies, a group known as OPEC+, still need to
take a final decision on output policy, after talks this month were
abandoned because of the Saudi-UAE dispute.
 UAE says agreement with OPEC+ on oil supply deal not yet
reached – The United Arab Emirates' energy minister said in a
statement on Wednesday that an agreement had not been
reached yet with OPEC+ regarding its position on an extension of
an oil supply deal. "Deliberations and consultations between
concerned parties are ongoing," the statement said. Earlier on
Wednesday, Reuters reported that the UAE and Saudi Arabia
reached a compromise giving Abu Dhabi a new production
baseline to allow the extension of the supply agreement until the
end of 2022.
 UAE closes in on oil output deal to resolve standoff with
OPEC+ – The UAE has made significant progress in resolving its
standoff with OPEC+, with a compromise deal being hammered
out that could allow the Gulf nation to pump more oil next year.
The talks, involving the UAE and Saudi Arabia, are still ongoing
and any deal would need the support of other OPEC+ nations,
according to delegates familiar with the discussions. While one
delegate said the deal was effectively done, another said
discussions were continuing. The UAE’s energy ministry issued a
statement acknowledging the talks, but saying no agreement had
yet been reached with the OPEC+ group. The negotiations are
nonetheless the first sign that Riyadh and Abu Dhabi are moving
to cool off tensions after an unusually public fight earlier this
month, when the UAE blocked an OPEC+ deal to boost
production, sending oil prices above $75 a barrel. The United
Arab Emirates is demanding the right to produce more oil next
year in return to support extending the current OPEC+ agreement
from April 2022 until December 2022. (Bloomberg)
 Saudi SRMG subsidiary acquires 51% of Thmanyah
Publishing for $88mn – Saudi Research and Media Group’s
(SRMG) subsidiary, Arab Media Co, has acquired a 51 percent
controlling stake in Arabic podcast platform and documentary
producer Thmanyah for SR33.31mn. The transaction will be
funded from the company’s own cash flows and resources, the
Tadawul-listed SRMG said in a disclosure to the stock exchange.
The deal, which was signed with the sellers, Abdulrahman Ali
Abumalih, Aseel Salah Baabdullah and Meem Company for
Research and Studies, is subject to regulatory approvals,
including an approval to amend the articles of association of
Thmanyah Co to introduce the Arab Media Co as a new partner,
it added. (Zawya)
 Saudi Ports, United Feed Sign Investment Pacts for Grain
Silos – Saudi Ports Authority signs investment contracts with
United Feed Co. to establish 16 grain storage silos at Jazan and
Ras Al-Khair ports to support kingdom’s food security, the
authority says in a statement. Silos will handle total of 2.88mn
tons of grain yearly, with investment at two sites worth SR370mn.
(Bloomberg)
 Saudi retailer jarir saw up to 20% rise in import costs – Jarir
Marketing saw a 10%-20% increase costs in past three months
amid a rise in oil and freight prices, Chairman Muhammad Al Agil
said in an interview with Bloomberg TV. (Bloomberg)
 UAE travel season intensifies as Emirates expects another
busy weekend ahead – Emirates is expecting high passenger
volumes to pass through Terminal 3 at Dubai International this
weekend, 16th-17th July, as traveller numbers reach among their
highest levels since the pandemic began. With added safety
measures and COVID-19 travel requirement checks in place,
travellers may encounter longer than expected waiting times at
Emirates check-in counters. Customers starting their journey
from Dubai are encouraged to physically check-in and drop their
bags early to avoid long wait times. Customers can check-in for
their flights up to 24 hours before departure, and those flying to
the US can check in 12 hours before departure. (Zawya)
 UAE's ADNOC invests over $750mn in drilling services to
boost oil production – UAE's largest oil company, the Abu
Dhabi National Oil Company (ADNOC), is investing $763.7mn
(AED2.8bn) in integrated rigless services across six of its artificial
islands to support its production capacity expansion to 5mn bpd
by 2030. The investment is in the form of three contracts awarded
by ADNOC Offshore to Schlumberger, ADNOC Drilling, and
Halliburton. Schlumberger’s share of the award is valued at
$381.18mn (AED1.4bn); ADNOC Drilling’s share is valued at
$228.71mn (AED839.58mn), and Halliburton’s share is valued at
$153.87mn (AED564.85mn), ADNOC said in a statement on
Wednesday. (Zawya)
 Dubai Investments acquires further stake in National General
Insurance Co. – Dubai DFM-listed investment company, Dubai
Investments, has acquired an additional 15.19 percent share of
National General Insurance Co. from Emirates NBD Bank
through a direct deal. The aggregate ownership has now reached
45.18 percent, following the acquisition of 21.53 percent acquired
through direct deal mechanism in April 2021, and the existing
8.46 percent of shares held by Dubai Investments, the investment
company said in a disclosure. (Zawya)

9. Page 9 of 10
 BKNZ posts 3% YoY rise in net profit to OMR6.0mn in 6M2021
– Bank Nizwa (BKNZ) recorded net profit of OMR6.0mn in
2Q2021, an increase of 3% YoY. Operating profit before provision
and tax rose 26% YoY to OMR12.0mn in 6M2021. Operating
Income rose 21% YoY to OMR22.4mn in 6M2021. Total assets
stood at OMR1.3bn at the end of June 30, 2021 as compared to
OMR1.1bn at the end of June 30, 2020. Financing to customers
stood at OMR1.1bn (+20% YoY), while customers’ deposits stood
at OMR1.0bn (+25% YoY) at the end of June 30, 2021. (MSM)
 BKDB posts 8.0% YoY rise in net profit to OMR17.1mn in
6M2021 – Bank Dhofar (BKDB) recorded net profit of
OMR17.1mn in 6M2021, an increase of 8.0% YoY. Profit from
operations rose 20.7% YoY to OMR29.4mn in 6M2021.
Operating income rose 3.2% YoY to OMR63.0mn in 6M2021.
Total assets stood at OMR4.4bn at the end of June 30, 2021 as
compared to OMR4.1bn at the end of June 30, 2020. Net loans
and Advances and Financing to customers stood at OMR3.3bn
(+4.1% YoY), while deposits from customers stood at OMR3.1bn
(+9.1% YoY) at the end of June 30, 2021. (MSM)
 BKSB posts 15.4% YoY rise in net profit to OMR15.2mn in
6M2021 – Sohar International Bank (BKSB) recorded net profit of
OMR15.2mn in 6M2021, an increase of 15.4% YoY. Operating
income rose 13.9% YoY to OMR54.2mn in 6M2021. Operating
profit rose 17.0% YoY to OMR30.6mn in 6M2021. Total assets
stood at OMR4.0bn at the end of June 30, 2021 as compared to
OMR3.6bn at the end of June 30, 2020. Net loans and advances
stood at OMR2.5bn (+3.4% YoY), while deposits from customers
stood at OMR2.3bn (+2.8% YoY) at the end of June 30, 2021.
(MSM)
 HBMO reports net loss of OMR10.0mn in 6M2021 – HSBC
Bank Oman (HBMO) recorded loss of OMR10.0mn in 6M2021.
Operating Income fell 10.5% YoY to OMR33.1mn in 6M2021.
Total assets stood at OMR2.36bn at the end of June 30, 2021 as
compared to OMR2.40bn at the end of June 30, 2020. Net loans
and advances to customers stood at OMR1.3bn (-8.8% YoY),
while customers’ deposits stood at OMR1.9bn (+0.4% YoY) at the
end of June 30, 2021. (MSM)
 Moody's confirms National Bank of Oman's ratings with
negative outlook – Moody's Investors Service has today
confirmed National Bank of Oman SAOG 's Adjusted Baseline
Credit Assessment (BCA) at ba3, long-term bank deposit ratings
and senior unsecured ratings at Ba3, long-term local currency
Counterparty Risk Rating (CRR) at Ba2 and long-term CR
(Counterparty Risk) Assessment at Ba2(cr). At the same time, the
rating agency affirmed NBO's ba3 BCA, Ba2 long-term foreign-
currency CRR and all its short-term ratings and assessments at
NP and NP(cr). Moody's has changed the outlook back to
negative, from ratings under review, on NBO's ratings in line with
the situation before the review was initiated. Today's rating action
follows The Commercial Bank (CBQ)'s announcement on July
11th of the withdrawal of its offer to acquire an additional 15.2%
stake in NBO. This was the closing day for the offer period. The
acquisition would have increased CBQ's shareholding in the bank
to 50.1%. This action concludes the review for upgrade that
Moody's initiated on 14th June 2021 as a result of CBQ's offer.
 Ministry: Oman to offer 3 petroleum concession areas in
august – Oman will invite bids for two onshore and one offshore
petroleum exploration concession areas in 2021, the Ministry of
Energy and Minerals said in a tweet. (Bloomberg)
 ADNOC signs $764mn drilling deals with firms inc.
halliburton – Abu Dhabi state energy firm Adnoc awards drilling
contracts worth $764mn to Halliburton, Schlumberger and Adnoc
Drilling. Investment will help toward Adnoc’s goal of boosting oil-
output capacity to 5mn barrels per day by 2030. Contracts are for
work in integrated rigless services across six of Adnoc’s artificial
islands in the Upper Zakum and Satah Al Razboot (SARB) fields
in the Persian Gulf. (Bloomberg)
 Bahrain sells 70mn dinars 91-day bills; bid-cover 1.19 –
Bahrain sold $186mn of bills due Oct 20. Investors offered to buy
1.19 times the amount of securities sold. The bills were sold at a
price of 99.658, have a yield of 1.36 percent and will settle on Jul
21. (Bloomberg)

10. Contacts
QNB Financial Services Co. W.L.L.
Contact Center: (+974) 4476 6666
info@qnbfs.com.qa
Doha, Qatar
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Mehmet Aksoy, PhD
Head of Research Senior Research Analyst Senior Research Analyst
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa mehmet.aksoy@qnbfs.com.qa
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange. Qatar National Bank (Q.P.S.C.) 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.
QNBFS accepts no liability whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be
based on specifically engaged investment 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. 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. For reports dealing with Technical
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Page 10 of 10
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
60.0
80.0
100.0
120.0
140.0
160.0
Jun-17 Jun-18 Jun-19 Jun-20 Jun-21
QSE Index S&P Pan Arab S&P GCC
0.4%
0.1%
0.2%
0.3%
(0.0%)
0.5%
(0.2%)
(0.5%)
0.0%
0.5%
1.0%
Saudi
Arabia
Qatar
Kuwait
Bahrain
Oman
Abu
Dhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%*
Gold/Ounce 1,827.53 1.1 1.1 (3.7) MSCI World Index 3,058.59 (0.0) 0.2 13.7
Silver/Ounce 26.25 1.0 0.6 (0.6) DJ Industrial 34,933.23 0.1 0.2 14.1
Crude Oil (Brent)/Barrel (FM Future) 74.76 (2.3) (1.0) 44.3 S&P 500 4,374.30 0.1 0.1 16.5
Crude Oil (WTI)/Barrel (FM Future) 73.13 (2.8) (1.9) 50.7 NASDAQ 100 14,644.95 (0.2) (0.4) 13.6
Natural Gas (Henry Hub)/MMBtu 3.76 1.1 1.3 57.3 STOXX 600 460.56 0.2 0.3 11.7
LPG Propane (Arab Gulf)/Ton 109.88 0.1 (0.7) 46.0 DAX 15,788.98 0.2 0.3 10.8
LPG Butane (Arab Gulf)/Ton 122.88 (1.4) (0.1) 76.8 FTSE 100 7,091.19 (0.4) (0.5) 11.4
Euro 1.18 0.5 (0.3) (3.1) CAC 40 6,558.38 0.2 0.1 14.4
Yen 109.97 (0.6) (0.2) 6.5 Nikkei 28,608.49 0.0 2.6 (2.1)
GBP 1.39 0.3 (0.3) 1.4 MSCI EM 1,338.13 (0.1) 1.5 3.6
CHF 1.09 0.5 (0.0) (3.2) SHANGHAI SE Composite 3,528.50 (1.1) 0.3 2.5
AUD 0.75 0.5 (0.1) (2.8) HANG SENG 27,787.46 (0.6) 1.6 1.9
USD Index 92.41 (0.4) 0.3 2.7 BSE SENSEX 52,904.05 0.3 1.0 8.6
RUB 74.08 (0.3) (0.4) (0.4) Bovespa 128,406.50 1.7 5.4 9.7
BRL 0.20 1.8 3.7 2.4 RTS 1,625.77 (1.4) (0.6) 17.2
142.8
136.5
108.4