The QSE Index rose 0.2% to close at 10,390.0.

1. Page 1 of 6
QSE Intra-Day Movement
Qatar Commentary
The QSE Index rose 0.2% to close at 10,390.0. Gains were led by the Consumer Goods
& Services and Banks & Financial Services indices, gaining 1.3% and 0.1%,
respectively. Top gainers were Qatar Fuel Company and Doha Bank, rising 2.5% and
1.1%, respectively. Among the top losers, Doha Insurance Group fell 3.6%, while Al
Khaleej Takaful Insurance Company was down 2.3%.
GCC Commentary
Saudi Arabia: The TASI Index fell 0.4% to close at 7,711.1. Losses were led by Real
Estate Mgmt. and Com. & Prof. Svc. indices, falling 1.6% and 1.2%, respectively.
Saudi Paper Manufact. declined 9.8%, while Gulf Union Coop. Ins. was down 8.3%.
Dubai: The DFM General Index declined 0.3% to close at 2,817.7. The Investment &
Fin. Services index fell 1.2%, while the Consumer Staples and Discretionary index
declined 0.8%. Arabtec Holding fell 3.8%, while Amlak Finance was down 3.1%.
Abu Dhabi: The ADX General index fell 0.5% to close at 5,002.3. The Consumer
Staples index declined 5.5%, while the Real Estate index fell 3.0%. AGTHIA Group
declined 8.2%, while Al Khaleej Investment was down 7.9%.
Kuwait: The Kuwait Main Market Index rose 0.1% to close at 4,754.0. The
Telecommunications index gained 1.0%, while Oil & Gas index rose 0.8%. National
International Co. and Senergy Holding Company were up 9.4% each.
Oman: The MSM 30 Index rose 0.3% to close at 4,503.7. Gains were led by the
Industrial and Services indices, rising 0.3% and 0.2%, respectively. Dhofar
Insurance rose 9.8%, while AlMaha Ceramics was up 6.6%.
Bahrain: The BHB Index fell marginally to close at 1,312.6. The Services index
declined 0.7%, while the other indices ended flat or in green. Seef Properties
declined 2.8%, while Investcorp Bank was down 2.1%.
QSE Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar Fuel Company 189.04 2.5 200.8 85.2
Doha Bank 21.81 1.1 107.2 (23.5)
Barwa Real Estate Company 39.20 1.0 422.4 22.5
Medicare Group 63.94 0.9 18.5 (8.5)
Gulf Warehousing Company 40.90 0.9 2.2 (7.0)
QSE Top Volume Trades Close* 1D% Vol. ‘000 YTD%
Barwa Real Estate Company 39.20 1.0 422.4 22.5
Vodafone Qatar 8.10 0.4 275.8 1.0
Mazaya Qatar Real Estate Dev. 7.60 0.0 264.0 (15.6)
Qatar Gas Transport Company Ltd. 17.81 (0.5) 263.8 10.6
Qatar First Bank 4.27 (0.2) 256.8 (34.6)
Market Indicators 11 Nov 18 08 Nov 18 %Chg.
Value Traded (QR mn) 108.0 259.0 (58.3)
Exch. Market Cap. (QR mn) 581,753.2 581,455.3 0.1
Volume (mn) 2.9 5.9 (51.0)
Number of Transactions 2,136 4,499 (52.5)
Companies Traded 41 44 (6.8)
Market Breadth 14:23 26:11 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 18,306.04 0.2 0.2 28.1 15.4
All Share Index 3,061.23 0.0 0.0 24.8 15.5
Banks 3,771.68 0.1 0.1 40.6 14.2
Industrials 3,350.01 0.0 0.0 27.9 15.9
Transportation 2,100.77 (0.5) (0.5) 18.8 12.2
Real Estate 1,993.13 (0.3) (0.3) 4.1 18.0
Insurance 3,045.39 (0.5) (0.5) (12.5) 18.1
Telecoms 983.39 0.1 0.1 (10.5) 39.9
Consumer 7,320.03 1.3 1.3 47.5 15.0
Al Rayan Islamic Index 3,941.43 0.3 0.3 15.2 15.4
GCC Top Gainers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Southern Prov. Cement Saudi Arabia 38.05 6.1 637.4 (21.4)
Saudi Cement Co. Saudi Arabia 47.50 3.5 391.6 0.1
Yanbu Cement Co. Saudi Arabia 24.78 3.1 564.8 (26.7)
Dallah Healthcare Co. Saudi Arabia 56.60 2.9 368.9 (44.0)
Oman Telecomm Co. Oman 0.86 2.9 378.2 (28.6)
GCC Top Losers
##
Exchange Close
#
1D% Vol. ‘000 YTD%
Emaar Economic City Saudi Arabia 8.23 (5.3) 2,552.2 (39.0)
National Petrochem. Co. Saudi Arabia 26.75 (4.3) 322.4 44.4
Saudi Industrial Inv. Saudi Arabia 25.50 (4.0) 1,160.3 33.1
Sahara Petrochemical Co. Saudi Arabia 16.50 (3.6) 1,940.8 0.1
Aldar Properties Abu Dhabi 1.75 (3.3) 3,162.5 (20.5)
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%
Doha Insurance Group 12.63 (3.6) 2.9 (9.8)
Al Khaleej Takaful Insurance Co. 8.50 (2.3) 82.2 (35.8)
Mannai Corporation 57.16 (2.2) 0.2 (3.9)
Widam Food Company 68.69 (1.1) 13.5 9.9
Salam International Inv. Ltd. 4.55 (1.1) 47.3 (34.0)
QSE Top Value Trades Close* 1D% Val. ‘000 YTD%
Qatar Fuel Company 189.04 2.5 38,093.0 85.2
Barwa Real Estate Company 39.20 1.0 16,484.0 22.5
Masraf Al Rayan 39.15 0.8 9,036.8 3.7
Qatar Insurance Company 35.95 (0.6) 5,977.1 (20.5)
Qatar Gas Transport Co. Ltd. 17.81 (0.5) 4,683.5 10.6
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* 10,390.01 0.2 0.2 0.9 21.9 29.63 159,807.6 15.4 1.6 4.2
Dubai 2,817.72 (0.3) (0.3) 1.2 (16.4) 61.81 100,264.0 7.6 1.0 6.3
Abu Dhabi 5,002.26 (0.5) (0.5) 2.0 13.7 28.47 136,438.7 13.2 1.4 4.8
Saudi Arabia 7,711.11 (0.4) (0.4) (2.5) 6.7 718.77 487,875.7 16.5 1.7 3.6
Kuwait 4,754.02 0.1 0.1 1.3 (1.5) 37.80 32,495.8 13.9 0.9 4.4
Oman 4,503.68 0.3 0.3 1.8 (11.7) 2.66 19,392.1 10.6 0.8 5.8
Bahrain 1,312.57 (0.0) (0.0) (0.2) (1.4) 5.19 20,309.7 8.9 0.8 6.2
Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any)
10,300
10,350
10,400
10,450
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 QSE Index rose 0.2% to close at 10,390.0. The Consumer Goods &
Services and Banks & Financial Services indices led the gains. The index
rose on the back of buying support from non-Qatari shareholders despite
selling pressure from Qatari and GCC shareholders.
 Qatar Fuel Company and Doha Bank were the top gainers, rising 2.5%
and 1.1%, respectively. Among the top losers, Doha Insurance Group fell
3.6%, while Al Khaleej Takaful Insurance Company was down 2.3%.
 Volume of shares traded on Sunday fell by 51.0% to 2.9mn from 5.9mn
on Thursday. Further, as compared to the 30-day moving average of
5.4mn, volume for the day was 46.2% lower. Barwa Real Estate
Company and Vodafone Qatar were the most active stocks, contributing
14.6% and 9.5% to the total volume, respectively.
Source: Qatar Stock Exchange (* as a % of traded value)
Earnings Releases
Company Market Currency
Revenue (mn)
3Q2018
% Change
YoY
Operating Profit
(mn) 3Q2018
% Change
YoY
Net Profit
(mn) 3Q2018
% Change
YoY
Saudi Enaya Cooperative
Insurance Co.
Saudi Arabia SR – – – – 1.1 51.4%
Wataniya Insurance Co. Saudi Arabia SR 176.9 16.7% – – 0.6 -15.4%
The Company for Cooperative
Insurance
Saudi Arabia SR 1,207.8 -15.0% – – 35.7 114.1%
Malath Cooperative Insurance Co. Saudi Arabia SR 150.4 142.1% – – 2.5 2,659.6%
Saudi Re for Coop. Reinsurance Co. Saudi Arabia SR 83.3 -72.5% – – 9.3 -17.8%
Tihama Advertising and PR. Co. Saudi Arabia SR 13.5 -11.2% -4.6 N/A 0.1 -96.4%
Gulf Union Cooperative Insurance Saudi Arabia SR 48.5 49.3% – – 0.8 160.9%
Al-Baha Investment and
Development Co.
Saudi Arabia SR 2.3 541.7% 0.4 N/A 0.4 N/A
Raydan Co. Saudi Arabia SR 62.1 2.8% 5.0 -49.9% 5.8 -45.3%
The Mediterranean and Gulf
Insurance and Reinsurance Co.
Saudi Arabia SR 836.3 63.0% – – 6.2 70.4%
Allianz Saudi Fransi Cooperative
Insurance Co.
Saudi Arabia SR 140.6 -4.5% – – 2.0 31.2%
Amana Cooperative Insurance Saudi Arabia SR 33.4 273.6% – – 1.2 -54.5%
Al Alamiya for Cooperative
Insurance Co.
Saudi Arabia SR 55.1 -3.5% – – 1.9 33.6%
SABB Takaful Co. Saudi Arabia SR 37.5 -16.5% – – 2.3 27.8%
Gulf General Cooperative
Insurance Co.
Saudi Arabia SR 48.1 87.8% – – 1.3 278.4%
Arabian Shield Cooperative
Insurance Co.
Saudi Arabia SR 172.8 49.8% – – 2.6 275.5%
MetLife AIG ANB Cooperative
Insurance Co.
Saudi Arabia SR 15.7 -84.7% – – 0.9 -31.8%
Arabia Insurance Cooperative Co. Saudi Arabia SR 96.2 63.7% – – 0.7 -2.3%
Saudi Real Estate Co. Saudi Arabia SR 69,024.0 -13.9% 4,826.0 -87.7% 12,674.0 -40.7%
Al-Rajhi Co. for Coop. Insurance Saudi Arabia SR 703.4 -5.2% – – 4.0 53.9%
Al-Ahlia Insurance Co. Saudi Arabia SR 52.3 -1.8% – – 2.2 37.7%
Aljazira Takaful Taawuni Co. Saudi Arabia SR 50.1 81.0% – – 2.4 0.9%
Alinma Tokio Marine Co. Saudi Arabia SR 65.8 30.2% – – 0.4 -76.0%
United Cooperative Assurance Co. Saudi Arabia SR 120.9 4.0% – – 1.8 22.6%
Salama Cooperative Insurance Co. Saudi Arabia SR 153.0 -3.8% – – 0.9 19.1%
Saudi Electricity Co. Saudi Arabia SR 22,135.0 30.3% 5,982.0 6.7% 4,925.0 -6.4%
Emaar Malls Dubai AED 1,128.4 28.8% 589.0 8.7% 536.9 10.5%
Agility The Public Warehousing Kuwait KD – – – – 58.9 19.7%
Ekttitab Holding Company* Kuwait KD – – – – -402.0 N/A
Bahrain Family Leisure Company#
Bahrain BHD – – 20.8 -52.2% -206.6 N/A
Bahrain Kuwait Insurance Bahrain BHD 14.6 29.4% – – 1.1 -5.9%
Source: Company data, DFM, ADX, MSM, TASI, BHB. (*Financials for 9M2018,
#
Values in ‘000)
Overall Activity Buy %* Sell %* Net (QR)
Qatari Individuals 49.32% 63.19% (14,978,021.57)
Qatari Institutions 16.18% 13.17% 3,244,189.58
Qatari 65.50% 76.36% (11,733,831.99)
GCC Individuals 1.03% 2.69% (1,798,209.00)
GCC Institutions 0.19% 3.35% (3,413,642.53)
GCC 1.22% 6.04% (5,211,851.53)
Non-Qatari Individuals 15.81% 12.45% 3,628,732.64
Non-Qatari Institutions 17.47% 5.14% 13,316,950.88
Non-Qatari 33.28% 17.59% 16,945,683.52

3. Page 3 of 6
News
Qatar
 Gulf Warehousing Marine Company appointed as shipping
agent of Taiwan’s shipping company – Gulf Warehousing
Marine Company, a subsidiary of Gulf Warehousing Company,
has been formally appointed as a shipping agent to handle
Taiwan-based Wan Hai Lines Ltd’s liner business in Qatar. This
appointment comes into effect as on December 1, 2018. (QSE)
 Building permits issued in Qatar jump 8% MoM to 795 in
October – Qatar saw 8% MoM jump in building permits issued to
795 in October 2018 with Al Shamal, Umm Slal, Shahaniya,
Wakrah and Doha witnessing a strong double-digit growth,
according to the Ministry of Development Planning and
Statistics (MDPS). On geographical basis, the MDPS found that
Al Rayyan remained atop the municipalities where the number
of building permits issued were 221 permits or 28% of the total
issued permits, Al Wakrah 186 (23%), Doha 148 (19%), Al
Daayen 82 (10%), Umm Slal 52 (7%), Al Khor 42 (5%), Al
Shamal 35 (4%) and Al Shahaniya 29 (4%) . On a MoM basis, Al
Shamal witnessed a 59% increase, Umm Slal (41%), Al
Shahaniya (38%), Wakrah (22%) and Doha (13%); while Al
Daayen saw a 16% decline, Al Khor (11%) and Al Rayyan (2%).
Building permits data is of particular importance as it is
considered an indicator for the performance of the construction
sector which in turn occupies a significant position in the
national economy. In terms of type of permits issued, data
indicated that the new building permits (residential and non-
residential) constituted 54% (428 permits) of the total building
permits issued in October this year, while additions constituted
42% (337 permits), and fencing 4% (30 permits). (Gulf-
Times.com)
 CEO: QTerminals scouting for opportunities in Black Sea region
– QTerminals, the recently-established operator of the first
phase of Hamad Port in Qatar, is scouting for opportunities in
the Black Sea region as part of its strategy to expand
internationally. The terminal operating company, jointly
established by Mwani Qatar (51%) and Milaha (49%), has
already zeroed in two to three projects and initial due diligence
has been undertaken, according to its CEO Neville Bissett. “At
the moment we are very carefully looking at opportunities in
the Black Sea. We are also looking at the sub-continent,”
official of QTerminals said, whose container traffic averages
105,000 to 106,000 TEUs (twenty-foot equivalent units) per
month. The proposed projects are in those countries with
extensive seacoast lines, Bissett said without disclosing further
details, citing confidentiality pact. (Gulf-Times.com)
 GBI and Vodafone Qatar sign agreement – Gulf Bridge
International (GBI) signed a new long-term agreement on top of
its existing partnership with Vodafone Qatar that will provide
the telecommunications company with IP transit service,
International SDH and Global Ethernet from Qatar to Europe
and Asia. The latter has the ability to grow further with the
increase in consumer and enterprise demand, capitalizing on
GBI’s strategic connectivity corridors. This agreement is set to
enhance the strategic business alliance between the two
companies. (Gulf-Times.com)
 QDB conference highlights role of entrepreneurship in Qatar’s
economic growth – The fourth edition of the ‘Qatar
Entrepreneurship Conference’, organized by Qatar
Development Bank (QDB), highlights the role of the country’s
entrepreneurship sector in driving economic growth, HE the
Minister of Commerce and Industry Ali bin Ahmed al-Kuwari
said. Al-Kuwari said, “The event is an important initiative and
is in line with Qatar’s efforts to promote the private sector,
particularly the small and medium-sized enterprises (SME)
sector, as an important tributary to sustainable development.”
The Minister added the State of Qatar has succeeded during the
past years in gradually moving from an oil-based economy to an
economy to which non-oil sectors contributed to 52% in 2017.
“Over the past years, Qatar has been able to demonstrate its
ability to achieve economic diversification without relying
entirely on the hydrocarbon capabilities by placing innovation,
entrepreneurship, and SMEs at the forefront of its strategic
priorities,” al-Kuwari said. (Gulf-Times.com)
 Qatar Chamber moves ‘Made in Qatar’ exhibition opening to
December 3, 2018 in Oman – Private sector leader Qatar
Chamber has rescheduled the opening of its ‘Made in Qatar’
2018 edition in Muscat, Oman to December 3, 2018. According
to board member and Head of the Chamber’s Industry
Committee, Rashid bin Nasser al-Kaabi, the event will witness
the participation of 240 Qatari companies. The event is
organized by the Chamber in cooperation with the Ministry of
Energy, Qatar Development Bank, and Oman Chamber of
Commerce and Industry. Al-Kaabi said the exhibition will be
held outside the country for the second time, and aims to open
new platforms for Qatari and Omani companies to exchange
expertise and to promote ‘Made in Qatar’ products to Oman. On
the sidelines of the event, al-Kaabi said more than 100 leading
businessmen will participate in the ‘Qatari-Omani Business
Forum’ to review investment and business opportunities
available in both the countries. (Gulf-Times.com)
 QNB Group, IAAF sign worldwide sponsorship agreement –
QNB Group became the latest worldwide level official IAAF
partner signing a four-year deal that will see the bank support
all World Athletic Series Events from January 1, 2019 to the end
of 2022. The sponsorship will include the next two IAAF World
Championships – Doha 2019 and Eugene, Oregon in 2021, IAAF
World Relays in Yokohama, Japan, IAAF World Cross Country
Championship in Aarhus next year, the 2020 IAAF World
Indoor Championships in Nanjing, China, the 2020 IAAF Half
Marathon in Gdynia, Poland, the 2020 IAAF World Race
Walking Team Championships in Minsk, Belarus, and the 2020
World Athletics U20 Championships in Nairobi, Kenya. As part
of their partnership, QNB Group will have exclusive branding on
all female athlete bibs competing at the WCH Doha 2019. (Gulf-
Times.com)
International
 UK employers plan to hold tight on pay despite labor shortages
– British employers do not expect to increase the average pay
settlements they offer to staff over the coming year, an
industry survey showed, raising questions about whether pay
will pick up as the Bank of England predicts. Employers plan to
raise pay by 2% over the year to come, which is unchanged
from the increase they planned three months earlier, according
to the Chartered Institute of Personnel and Development

4. Page 4 of 6
(CIPD). Moreover, only around half of businesses experiencing
recruitment and retention difficulties were raising pay to
attract new staff or keep hold of existing ones, due to wider
productivity challenges and cost pressures, CIPD stated.
(Reuters)
 Germany's auto rebound may be stung by trade tensions,
China’s slowdown – The car industry is steering the German
economy again. Automotive production should pick up again
this quarter after new tests choked output and brought
economic growth to a standstill over the summer. However, the
strength of the rebound, and the year-end economic revival
that hinges on it, is in doubt as carmakers feel the pain of trade
tensions and China’s slowdown. With Germany accounting for
almost one-third of the Eurozone’s economy, its performance
also has wider implications. Growth in the 19-nation currency
bloc slowed to just 0.2% in the third quarter, the weakest in four
years. The slowdown coincided with updated emissions-test
procedures, which hurt sales of new models across Europe,
hitting Germany’s auto sector. (Bloomberg)
 Italy reportedly seeking to cut 2019 growth forecasts to get EU
budget deal – Italy’s Economy Minister is looking to revise
down the budget’s growth forecast for next year to try to reach
a deal with the European Commission over fiscal policy,
according to sources. The Commission rejected Italy’s fiscal
plan for 2019 last month. The European Union’s executive said
it flouted a commitment to lower the deficit and did not
guarantee a reduction in the country’s debt, the second highest
in the Eurozone as a proportion of gross domestic product. In its
latest multi-year economic targets in early October, Italy
revised up its growth forecasts, with 2019 gross domestic
product growth estimated at 1.5%. (Reuters)
 Finance Minister: China will step up tax cuts – China will study
and implement tax cuts of a larger scale and more significant
fee reductions for companies, the country’s Finance Minister
Liu Kun said. This year, China has lowered the tax burden for
exporters and cut import tariffs for machinery and raw
materials. (Reuters)
Regional
 GCC outbound tourism spending surges to $60bn – The per-
capita international tourism spending from the Gulf visitors
was 6.5x higher than the global average last year, with
expenditure estimated to be more than $60bn last year, up from
$40bn in 2010, stated a new report from the World Tourism
Organization (UNWTO) and the European Travel Commission
(ETC). The outbound tourism from the fast-growing markets of
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE has
been growing strongly in the recent years, stated the report.
(GulfBase.com)
 Saudi Arabia to cut oil output from December – Saudi Arabia
stated that it will cut oil output from next month, as major
producers held a key meeting to discuss shoring up sliding
prices. Saudi Arabia’s Energy Minister Khalid al-Falih
announced that the Kingdom was cutting its supplies by
500,000 barrels per day from December. But al-Falih said ahead
of the meeting of OPEC and non-OPEC key producers that there
was not yet any consensus on a broader output cut. (Gulf-
Times.com)
 Sahara Petrochemicals declares technical defect in subsidiary’s
plant – Sahara Petrochemical Company announced that the
plant of its subsidiary, Al Waha Petrochemical Company,
experienced a technical defect in the cold box unit. The repair
and turnaround maintenance work is expected to be completed
in not more than thirty days. The company will lose the
opportunity of approximately SR42mn according to current
polypropylene prices, which will be reflected in the fourth
quarter results. During this period, customers will be supplied
from the reserve stock in the warehouses. (Tadawul)
 Tadawul announces listing of Middle East Financial
Investment Company’s ‘MEFIC REIT’ – The Saudi Stock
Exchange Company (Tadawul) announced the listing and
trading units of “MEFIC REIT” from November 13, 2018, with
the symbol 4346 in the Real Estate Investment Traded Funds
(REITs) sector, with a 10% daily price fluctuation limit per unit.
(Tadawul)
 CBUAE now free to link banks' exposure to real estate to
market strength – The Central bank of the UAE (CBUAE) now
has the flexibility to set new exposure limits for banks to the
real estate sector and can amend these to reflect market
performance, a senior commercial banker said. A new law
introduced last month abolished a cap, dating from 1980, that
restricted each bank’s lending to the construction and real
estate sectors to a maximum of 20% of total deposits. No new
cap has been imposed, but Abdulaziz al-Ghurair, chairman of
the UAE Banks Federation, said his federation has liaised with
the central bank on what should be defined as real estate,
suggesting a new cap could be looming. “Flexibility is now with
the central bank and it may come back and change (the cap
situation) from year to year depending on the performance of
real estate,” Ghurair said. (Reuters)
 Arqaam Capital starts Sukuk fund with $130mn in
subscriptions – Arqaam Capital started a Shari’ah-compliant
fund that will focus predominantly on global Sukuk and has
final maturity of October 2022, according to a statement.
Arqaam Islamic Current Income Fund 2022 offers a targeted
annual income of 5%. (Bloomberg)
 DLD, ADGM to bolster Dubai’s realty sector – Dubai Land
Department (DLD) signed a Memorandum of Understanding
(MoU) with the Registration Authority of Abu Dhabi Global
Market (ADGM), the International Financial Centre (IFC) in
Abu Dhabi. The MoU highlights DLD’s interest to establish
cooperative relations with the Financial Free Zone Authority by
enabling international companies registered in ADGM to own
properties in Dubai’s Freehold Areas within DLD’s framework,
legal controls, and registration procedures. Dhaher bin Dhaher
Al Mheiri, CEO of the ADGM Registration Authority, said: “The
UAE has developed an unparalleled real estate sector and
continues to bring forth new initiatives such as this to bolster
the ease of doing business for investors. The strategic
cooperation between ADGM and the DLD will streamline
regulations and policies to enhance accessibility into the real
estate market”. (GulfBase.com)
 Abu Dhabi Islamic Bank gets approval for 25% foreign
ownership – Abu Dhabi Islamic Bank stated that it has obtained
the Abu Dhabi Executive Council’s approval to allow foreigners
to own up to 25% of its shares. The board decided to implement

5. Page 5 of 6
the decision on November 19, according to a statement. Abu
Dhabi Islamic bank’s board had approved a plan to allow
foreigners to own shares in the lender in the year 2010.
(Bloomberg)
 Total wins 40% stake in Abu Dhabi's ADNOC gas concession –
French oil firm Total SA won a 40% stake in an unconventional
gas concession that will help boost Abu Dhabi’s production.
Total will explore, appraise and develop the Ruwais Diyab
unconventional gas concession, according to a statement from
the state energy producer Abu Dhabi National Oil Co. (ADNOC).
The project will help ADNOC reach its target of 1bn cubic feet a
day of unconventional gas output by 2030, it stated. The
agreement includes a six to seven-year exploration and
appraisal phase, which will then be followed by a 40-year
production term, according to the statement. ADNOC retains a
60% stake in the concession. “We work toward achieving gas
self-sufficiency, for the UAE, and transition to having the
capacity to become a net gas exporter,” ADNOC’s CEO Sultan Al
Jaber said. (Bloomberg)
 ADNOC, Chinese group Wanhua seal long-term LPG contract –
Abu Dhabi National Oil Company (ADNOC) stated that it has
concluded a new long-term liquefied petroleum gas (LPG) sales
agreement with Wanhua Chemical Group of China. Wanhua
Chemical Group is the world’s largest MDI producer and the
biggest TDI supplier in Europe. It operates a world-scale,
advanced C3/C4 petrochemical industrial chain in China, as
well as high value added specialty chemical clusters. Under the
terms of the 10-year contract, Wanhua will purchase up to 1mn
metric tons of LPG per annum, said Abdulla Salem Al Dhaheri,
the marketing, sales and trading director at ADNOC.
(GulfBase.com)
 India to lease out half of Padur strategic oil storage to ADNOC –
India plans to lease out half of its Padur strategic oil reserve site
in southern India to ADNOC for storing crude, according to
sources. Indian Strategic Petroleum Reserves Ltd (ISPRL) will
sign an initial agreement with ADNOC today in the presence of
India’s Oil Minister, Dharmendra Pradhan. The agreement will
allow ADNOC to sell oil to local refiners but give the
government of India the first right to the oil in case of an
emergency. (Reuters)
 Oman's total revenue surges by 24% to OMR6.67bn – The total
revenue of the Sultanate's government surged 24.4% to
OMR6.67bn for the first eight months of 2018, over the same
period last year due to a major recovery in oil prices, showed
provisional statistics released by the National Centre for
Statistics and Information (NCSI). The budget deficit fell 34%
to OMR1.83bn during the January-August period of 2018 due to
an increase in government revenues driven by higher oil
income. The budget deficit for the same period of 2017 was
much higher at OMR2.77bn. As a result of a growth in oil prices,
the net oil revenue of the Sultanate's government jumped by
35.8% to OMR4.01bn during the January-August period of 2018,
from OMR2.96bn for the same period of last year, the NCSI
report added. (GulfBase.com)
 Credit extended by Omani banks reach OMR24.7bn – The total
outstanding credit extended by conventional and Islamic banks
and other depository corporations stood at OMR24.7bn as of the
end of August 2018, a growth of 7.6% over the level witnessed a
year ago, according to the statistical bulletin released by the
Central Bank of Oman (CBO). The credit to the private sector
increased by 5.4% to OMR21.9bn as of the end of August 2018.
Of the total credit to the private sector, the non-financial
corporate sector got 46.2%, closely followed by the household
sector (mainly under personal loans) at 45.4%, while financial
corporations and other sectors received 5.3% and 3.1%
respectively. Total deposits amounted to OMR22.2bn as of the
end of August 2018 and registered a decelerated growth at 2.8%
as compared to 4.5% recorded during the same period last year.
Private sector deposits, which represented 63.5% of the total
deposits, grew by 2.2% to OMR14.1bn as of the end of August
2018. Sector-wise, the contribution of households in total
private sector deposits was 48.5%, followed by non-financial
corporations at 30.9%, financial corporations at 18.1%, and the
other sectors at 2.5%. (GulfBase.com)
 Oman’s oil minister says majority of OPEC and its allies support
cut – A majority of OPEC and allied oil exporters support a cut in
the global supply of crude, Oman’s Oil Minister Mohammed bin
Hamad al-Rumhi said. Asked if it could amount to 500,000 or
1mn barrels per day, he replied: “I think it is unfair for me to
throw numbers now.” “We need a consensus,” he said,
indicating that non-OPEC Russia would need to approve any
decision. (Reuters)

6. Contacts
Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-Nafoosi, CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
QNB Financial Services Co. W.L.L.
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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
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Page 6 of 6
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg (*$ adjusted returns)
45.0
70.0
95.0
120.0
Oct-14 Oct-15 Oct-16 Oct-17 Oct-18
QSEIndex S&P Pan Arab S&P GCC
(0.4%)
0.2%
0.1%
(0.0%)
0.3%
(0.5%)
(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 1,209.85 (1.2) (1.9) (7.2) MSCI World Index 2,063.16 (0.9) 1.3 (1.9)
Silver/Ounce 14.16 (2.0) (4.0) (16.4) DJ Industrial 25,989.30 (0.8) 2.8 5.1
Crude Oil (Brent)/Barrel (FM Future) 70.18 (0.7) (3.6) 4.9 S&P 500 2,781.01 (0.9) 2.1 4.0
Crude Oil (WTI)/Barrel (FM Future) 60.19 (0.8) (4.7) (0.4) NASDAQ 100 7,406.90 (1.6) 0.7 7.3
Natural Gas (Henry Hub)/MMBtu 3.83 6.7 17.5 8.2 STOXX 600 365.74 (0.9) 0.0 (11.4)
LPG Propane (Arab Gulf)/Ton 73.00 (3.8) (11.0) (25.3) DAX 11,529.16 (0.5) (0.4) (15.9)
LPG Butane (Arab Gulf)/Ton 76.75 (8.0) (16.7) (27.3) FTSE 100 7,105.34 (1.4) 0.3 (11.3)
Euro 1.13 (0.2) (0.5) (5.6) CAC 40 5,106.75 (1.0) (0.4) (9.4)
Yen 113.83 (0.2) 0.6 1.0 Nikkei 22,250.25 (0.9) (0.5) (3.3)
GBP 1.30 (0.7) 0.0 (4.0) MSCI EM 976.17 (1.7) (2.1) (15.7)
CHF 0.99 0.0 (0.2) (3.1) SHANGHAI SE Composite 2,598.87 (1.7) (3.8) (26.5)
AUD 0.72 (0.4) 0.5 (7.5) HANG SENG 25,601.92 (2.4) (3.4) (14.6)
USD Index 96.91 0.2 0.4 5.2 BSE SENSEX 35,158.55 (0.7) 0.9 (9.2)
RUB 68.08 1.8 2.8 18.1 Bovespa 85,641.21 0.6 (4.5) (0.9)
BRL 0.27 0.7 (1.0) (11.3) RTS 1,121.38 (2.9) (1.2) (2.9)
76.9
75.5
74.2