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1 QSE Intra-Day Movement 7,950 7,900 7,850 7,800 9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00 Qatar Commentary The QSE Index declined 0.9% to close at 7, Losses were led by the Insurance and Telecoms indices, falling 4.2% and 2.1%, respectively. Top losers were Salam International Investment Ltd. and National Leasing, falling 7.8% and 6.7%, respectively. Among the top gainers, Islamic Holding Group gained 9.5%, while Investment Holding Group was up 3.7%. GCC Commentary Saudi Arabia: The TASI Index rose marginally to close at 6, Gains were led by the Telecom. Services and REITs indices, rising 1.2% and 0.6%, respectively. Al Hokair Group for Tourism. rose 9.8%, while Takween Advanced Ind. was up 4.8%. Dubai: The DFM Index declined 1.9% to close at 3, The Consumer Staples index fell 5.2%, while the Real Estate and Construction index declined 3.7%. National Central Cooling Co. fell 6.4%, while DXB Entertainments was down 5.6%. Abu Dhabi: The ADX benchmark index fell 1.1% to close at 4, The Consumer Staples index declined 2.7%, while the Real Estate index fell 2.3%. Arkan Building Mat. Co. declined 7.8%, while Abu Dhabi Nat. Co. for Building Mat. was down 6.1%. Kuwait: The KSE Index rose 0.6% to close at 6, The Insurance index gained 2.5%, while the Banks index rose 1.9%. Alargan International Real Estate Co. gained 19.7%, while Tameer Real Estate Investment Co. was up 19.2%. Oman: The MSM Index fell 0.9% to close at 5, Losses were led by the Financial and Services indices, falling 0.7% each. Oman Oil Marketing fell 4.5%, while Al Sharqia Investment Holding was down 3.6%. Bahrain: The BHB Index gained 1.1% to close at 1, The Commercial Bank index rose 3.6%, while the other indices ended flat or in red. Ahli United Bank rose 7.9%. QSE Top Gainers Close* 1D% Vol. 000 YTD% Islamic Holding Group (54.1) Investment Holding Group (44.0) Al Khalij Commercial Bank (29.4) Qatar First Bank (47.2) Qatar National Cement Co (21.2) Market Indicators 08 Nov Nov 17 %Chg. Value Traded (QR mn) (49.1) Exch. Market Cap. (QR mn) 424, ,344.6 (1.0) Volume (mn) (46.2) Number of Transactions 2,299 3,969 (42.1) Companies Traded (7.0) Market Breadth 10:28 2:36 Market Indices Close 1D% WTD% YTD% TTM P/E Total Return 13, (0.9) (3.6) (22.0) 12.6 All Share Index 2, (1.0) (4.6) (24.2) 12.1 Banks 2, (0.4) (1.9) (14.1) 12.9 Industrials 2, (0.4) (4.8) (27.1) 16.0 Transportation 1, (2.0) (8.2) (40.3) 11.4 Real Estate 1, (1.8) (7.7) (33.8) 10.3 Insurance 2, (4.2) (9.7) (39.1) 18.2 Telecoms (2.1) (5.2) (17.8) 18.4 Consumer 4, (1.2) (8.2) (26.6) 10.4 Al Rayan Islamic Index 3, (0.7) (6.1) (22.5) 13.5 GCC Top Gainers ## Exchange Close # 1D% Vol. 000 YTD% Kuwait Int. Bank Kuwait , Ahli United Bank Bahrain Middle East Health. Co. Saudi Arabia (31.1) Advanced Petro. Co. Saudi Arabia (2.0) Boubyan Bank Kuwait GCC Top Losers ## Exchange Close # 1D% Vol. 000 YTD% Qatar Insurance Co. Qatar (6.0) 47.4 (47.1) Qatar Navigation Qatar (5.5) (50.6) GFH Financial Group Dubai 1.40 (5.4) 43,502.6 (24.1) DAMAC Properties Dubai 3.42 (4.7) 4, Doha Bank Qatar (3.3) 84.5 (19.8) 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% Salam International Inv. Ltd (7.8) (42.0) National Leasing 8.02 (6.7) 67.3 (47.7) Ahli Bank (6.5) 0.5 (24.5) Qatar Insurance Co (6.0) 47.4 (47.1) Widam Food Co (5.6) 33.6 (19.5) QSE Top Volume Trades Close* 1D% Vol. 000 YTD% Ezdan Holding Group 8.65 (1.7) (42.8) Vodafone Qatar 6.15 (1.4) (34.4) Qatar First Bank (47.2) Qatar Navigation (5.5) (50.6) QNB Group (0.2) (18.8) Regional Indices Close 1D% WTD% MTD% YTD% QSE Top Value Trades Close* 1D% Val. 000 YTD% QNB Group (0.2) 40,435.0 (18.8) Qatar Electricity & Water Co (0.1) 18,145.0 (22.1) Qatar Navigation (5.5) 17,826.4 (50.6) Masraf Al Rayan ,120.3 (7.1) Industries Qatar (1.0) 5,862.9 (20.0) Source: Bloomberg (* in QR) Exch. Val. Traded ($ mn) Exchange Mkt. Cap. ($ mn) P/E** P/B** Dividend Yield Qatar* 7, (0.9) (3.6) (3.8) (24.7) , Dubai 3, (1.9) (5.7) (6.1) (3.3) , Abu Dhabi 4, (1.1) (2.2) (2.5) (3.9) , Saudi Arabia 6, (0.3) 0.0 (3.8) 1, , Kuwait 6, (5.6) (5.1) , Oman 5, (0.9) (0.2) 0.4 (13.0) , Bahrain 1, (1.3) (0.8) , Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) Page 1 of 7

2 Qatar Market Commentary The QSE Index declined 0.9% to close at 7, The Insurance and Telecoms indices led the losses. The index fell on the back of selling pressure from GCC and non-qatari shareholders despite buying support from Qatari shareholders. Salam International Investment Ltd. and National Leasing were the top losers, falling 7.8% and 6.7%, respectively. Among the top gainers, Islamic Holding Group gained 9.5%, while Investment Holding Group was up 3.7%. Volume of shares traded on Wednesday fell by 46.2% to 4.6mn from 8.5mn on Tuesday. Further, as compared to the 30-day moving average of 7.2mn, volume for the day was 35.8% lower. Ezdan Holding Group and Vodafone Qatar were the most active stocks, contributing 13.5% and 9.0% to the total volume, respectively. Overall Activity Buy %* Sell %* Net (QR) Qatari Individuals 35.50% 34.87% 868, Qatari Institutions 22.35% 15.08% 10,106, Qatari 57.85% 49.95% 10,975, GCC Individuals 0.42% 1.31% (1,238,086.68) GCC Institutions 0.28% 5.21% (6,853,563.48) GCC 0.70% 6.52% (8,091,650.16) Non-Qatari Individuals 7.53% 5.97% 2,161, Non-Qatari Institutions 33.93% 37.56% (5,045,301.17) Non-Qatari 41.46% 43.53% (2,884,130.27) Source: Qatar Stock Exchange (* as a % of traded value) Earnings Releases and Global Economic Data Earnings Releases Company Market Currency Revenue (mn) % Change Operating Profit % Change Net Profit % Change 3Q2017 YoY (mn) 3Q2017 YoY (mn) 3Q2017 YoY SABB Takaful Co. Saudi Arabia SR % % Sadara Basic Services Company Saudi Arabia SR N/A N/A Saudi Fish Company Saudi Arabia SR -8.1 N/A -8.0 N/A National Gypsum Co. Saudi Arabia SR -3.3 N/A -4.2 N/A Amana Cooperative Insurance Co. Saudi Arabia SR % % Al Gassim Investment Holding Co. Saudi Arabia SR % % Fitaihi Holding Group Saudi Arabia SR -9.2 N/A -4.6 N/A The Agricultural Development Company Saudi Arabia SR % % Anaam International Holding Group Saudi Arabia SR -7.1 N/A -7.3 N/A Saudi Pharmaceutical Industries and Medical Appliances Corp. Saudi Arabia SR % % Saudi Marketing Co. Saudi Arabia SR % % Arabtec Holding Dubai AED 2, % 17.8 N/A Takaful Emarat Dubai AED % National Central Cooling Co. Dubai AED % % Dubai Financial Market Dubai AED % % National Cement Company Dubai AED % % Emaar Malls Dubai AED % % % Waha Capital Abu Dhabi AED % % Abu Dhabi National Energy Company Abu Dhabi AED 1, % N/A Bahrain Duty Free Complex Bahrain BHD % % % Nass Corporation Bahrain BHD % % Source: Company data, DFM, ADX, MSM, TASI, BHB. Global Economic Data Date Market Source Indicator Period Actual Consensus Previous 11/08 US Mortgage Bankers Association MBA Mortgage Applications 3-November 0.0% -2.6% 11/08 China National Bureau of Statistics Exports YoY October 6.9% 7.1% 8.1% 11/08 China National Bureau of Statistics Imports YoY October 17.2% 17.0% 18.7% Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted) Page 2 of 7

3 News Qatar BRES announces sale of treasury shares Barwa Real Estate Company (BRES) announced that it is in the process of selling treasury shares owned by Qatar Real Estate Investment Company (Al Aqaria), one of BRES wholly owned subsidiaries. The number of these shares is 50,106, and will be sold in accordance with the regulatory procedures issued by Qatar Financial Markets Authority. (QSE) AHCS to sell treasury shares Aamal Company (AHCS) announced that it commenced the sale of the treasury shares owned by Gulf Rocks Company in accordance with directives from Qatar Financial Market Authority (QFMA) on this matter and complying with Article (15) of the regulations concerning listed companies buying and selling their own shares. The Company obtained QFMA s approval to sell the said shares, and notified Qatar Stock Exchange (QSE) in accordance with the rules in the aforementioned regulation. The total number of treasury shares owned by Gulf Rocks and approved by QFMA for sale is 157,066 shares. On September 19, 2017, a total of 6,655 shares were sold. The remaining balance of 150,411 shares is being sold in accordance with the procedures stated in the aforementioned regulation. (QSE) QFC aims to triple FDI flows from registered firms to more than QR200bn by 2022 The Qatar Financial Center (QFC) has embarked on a multi-pronged approach to attract more foreign direct investment (FDI) into the country and expects more of its firms to seek listing on the local bourse, according to its top official. QFC Authority s CEO, Yousuf Mohamed Al Jaida, We are very much interested in FDI. At QFC, we have a free market view. Highlighting that the QFC, a hybrid onshore center, has already put in place a five-year strategy; he said through this it aims tripling of FDI flows from its registered firms to more than QR200bn by Moreover, it has also diversified the geographical profile of the authorized and non-regulated entities. More than 22% of the newly registered firms in the QFC during 2016 were from the Asia Pacific region. According to QFC official, there are credible evidences to show that QFC is an ideal platform, not only for international companies, who want to expand their business activities to Qatar, the Middle East, Africa and South Asia; but also for local businesses looking to expand regionally and internationally. The QFC aims to attract more than 1,000 companies and create more than 10,000 jobs in the financial and non-financial sectors in the country by (Gulf-Times.com) Al Meera Oman starting the engineering design works for a number of its branches in Oman Al Meera Consumer Goods Company disclosed that Al Meera Markets (Al Meera Oman), a joint venture between Al Meera Consumer Goods Company and Oman National Investment Development Company, a subsidiary of Oman s Pension Funds, has started the engineering design works for a number of its branches in the Sultanate of Oman. It is worth mentioning that Al Meera Consumer Goods Company owns 70% of the capital of Al Meera Oman, which has signed four lease contracts for four plots of land in different locations across the Sultanate, namely: Al Amerat (about 14,000 square meters), Salalah (40,000 square meters), Sur (40,000 square meters), and Al Suwaiq (about 22,000 square meters). (QSE) India in talks to buy more LNG from Qatar, says Envoy India is in talks to import more Liquefied Natural Gas (LNG) from Qatar to meet its growing demand for energy, India's Envoy in Doha said. Indian Ambassador to Qatar, HE P Kumaran told Qatar Tribune that India prefers Qatar as its energy partner as it is one of the most reliable exporters of LNG in the world. The demand for energy in India is huge. India needs much bigger volume of gas from Qatar as the country wants to double the share of LNG in its energy mix from the current 9%, the Envoy said. India has relied on Qatar to secure its energy needs in the past and it will continue to do so in the future as well, he added. The Envoy also revealed that trade volume between Qatar and India has increased in the recent time. Although the actual annual trade figures are yet to be out, the Envoy said, there are clear indications of an upswing in trade volume between the two countries. (Qatar Tribune) Turkish firms seek investment opportunities in Qatar Turkish engineering companies in the field of electromechanics are seeking investment opportunities in Qatar, an official from Turkey s Ministry of Economy said during a meeting with Qatar Chamber board members. Ugur Ozturk, the Director-General of the Ministry of Economy s Free Zones, Foreign Promotion and Services in Turkey, said a delegation composed of members of the Electromechanical Industrialists Association of Turkey (Emsad) is in Qatar to explore investment opportunities here and to strengthen cooperation ties with their Qatari counterparts. Ozturk underlined the significance of the electromechanical sector in the mega projects being implemented in Qatar related to the country s hosting of the FIFA World Cup in (Gulf-Times.com) Qatar s real estate sector makes major recovery Qatar s real estate sector witnessed a remarkable recovery in October with the combined value of monthly real estate transactions increased to QR5bn, up by 78.6% compared to QR2.8bn recorded in the corresponding month last year, according to Ezdan Holding Group s monthly report. During the month of October, 433 deals were executed, including 221 for ready-to-move properties, accounting for 51% of the total number of transactions, and 212 transactions were for the sale of land plots, which accounted for 49% of the total number of transactions, according to the Ezdan Holding Group s report citing official data from the Department of Real Estate Registration at the Ministry of Justice. The recovery in the real estate market was attributed to the return of the exceptional deals (valued more than QR100mn), especially for the sale and purchase of prefabricated buildings sector, in addition to the noticeable increase in the number of land plot transactions. The real estate sector is expected to continue its growth in the coming period, especially with the current economic expansion of the country and the increasing pace of projects related to the FIFA World Cup in The real estate sector is expected to grow by 30% by the end of the year. (Peninsula Qatar) Qatar s cloud computing market CAGR of 57% tops entire Middle East Qatar s cloud computing market is expected to have the highest compound annual growth rate (CAGR) of 57% Page 3 of 7

4 in the entire Middle East over a five-year period up to 2021, a new research by Frost & Sullivan showed. According to the research named, Qatar Cloud Computing Market: Macro Outlook and Technology Trends, 2017, Qatar is growing as the technological hub of the GCC. Qatar is seen as a hub of technological development and is the leading force behind smart city initiatives, it said. Qatar continues to be one of the leading innovators in the space of smart services as the government continues its journey towards establishing a smart city infrastructure across the country. Converged infrastructure and cloud services are the foundation of the creation and operation of Smart Cities. (Gulf-Times.com) Qatar Construction Specifications amended Ministry of Municipality and Environment has amended the Qatar Construction Specifications (QCS) allowing uses of recycled construction wastes and local and imported limestone. The amendment also aims at diversifying the source of import for building materials to meet the growing demand in local market. The amendments have been made in cooperation with the private and public sectors, the Public Works Authority (Ashghal) and the Specifications and Standardization Authority for upgrading the QCS by adopting and applying international standards in order to diversify sources of import materials in a bid to keep pace with industrial developments in building and construction sector, stated a release. The highlights of the amendments include making new mechanisms in contract of designs that allow diversify sources of import for building and construction materials with ensuring the quality according to the international standards. The amendments also allow use of local and imported limestone in the construction of asphalt pavements, concrete and other construction works. (Peninsula Qatar) Cabinet approves draft law on creation of National Tourism Council The Cabinet approved a draft law on establishing the National Tourism Council, which is expected to provide a further boost to Qatar s tourism sector through a multi-pronged approach. The regular weekly meeting of the Cabinet also gave its approval to a draft law on tourism regulation in the country, the official Qatar News Agency (QNA) reported. The National Tourism Council is to be constituted under the chairmanship of HE the Prime Minister, the draft law stipulates. Under the draft law, the National Tourism Council shall exercise all necessary powers and terms of reference to achieve its objectives, including the adoption and review of the national strategy for tourism, preparation for and follow-up on the implementation of the projects and programs that are part of the strategy, as well as the approval of the State's development, economic and infrastructure plans and programs that are related to the strategy and following up on its implementation in accordance with Qatar National Vision (Gulf-Times.com) Qatar welcomes ILO decision to close complaint Qatar welcomed the announcement by the International Labor Organization (ILO) that it will close its 2014 complaint against the country. Their announcement is an acknowledgement of the important steps our government has taken to develop a modern labor system that is fair to employers and employees alike, a statement issued by the Government Communication Office said. Qatar s 2030 vision recognized the need to improve the living and working conditions of its migrant labor force well before contractors broke ground on World Cup sites. In recent years, Qatar s Ministry of Administrative Development, Labor and Social Affairs initiated a sweeping new program to upgrade workers housing by creating modern accommodations for the nation s migrant laborers. (Gulf-Times.com) International MBA: US mortgage activity flat as loan rates fall The weekly volume of US mortgage applications was stuck at its lowest level since mid-february, even as 30-year home borrowing costs retreated from the highest in three months, the Mortgage Bankers Association (MBA) stated. The Washington-based group s seasonally adjusted weekly index of mortgage activity was little changed at in the week ended November 3, compared with the prior week. These were the weakest readings since in February 17 week. Last week, the average interest rate on conforming 30-year fixed-rate mortgages fell to 4.18% from the previous week s 4.22%, which was the highest since July, the MBA said. (Reuters) Japan s September core machinery orders down 8.1% MoM Japan's core machinery orders fell 8.1% in September from the previous month, government data showed. The fall in core orders, a highly volatile data series regarded as a good indicator of capital spending in the coming six to nine months, was more than the median estimate of 1.8% fall expected by economists in a Reuters poll. Companies surveyed by the Cabinet Office forecast that core orders, which exclude those of ships and electric power utilities, said they expect orders to fall 3.5% in the October-December quarter after 4.7% increase in July- September. Compared with a year earlier, core orders fell 3.5% in September, versus the median estimate for 1.9% rise. (Reuters) China s October exports, imports growth slow as economy cools China s exports and import growth eased in October in a sign the world s second-largest economy is starting to cool after a strong first half, with momentum seen slackening further as Beijing s crackdown on pollution hits factory output. October exports rose 6.9% from a year earlier in Dollar terms, slightly lagging analysts forecast of 7.2% increase, compared to 8.1% growth in September, official data showed. Imports grew 17.2% YoY in October, beating forecast of 16.0% growth but slightly slower than the 18.7% rise in September. Taken together, analysts say, the numbers reinforced recent signs of a cooling in economic momentum as the war on smog and tighter rules to reduce China s years-long addiction to debt drags on overall activity. (Reuters) China s October CPI up 1.9% YoY, up from September; PPI up 6.9% YoY, above forecast China s consumer inflation rate accelerated to 1.9% in October from a year earlier, beating market expectations, the National Bureau of Statistics (NBS) said. The consumer price index (CPI) had been expected to rise 1.8% on-year compared with an increase of 1.6% in September. Producer prices rose 6.9% YoY, unchanged from previous month s increase. Analysts had predicted the PPI would rise 6.6%. China s economy recorded better-than-expected growth of nearly 6.9% through the first nine months of this year, buoyed largely by a recovery in its manufacturing and industrial sectors thanks to strong government infrastructure Page 4 of 7

5 spending, a resilient property market and unexpected strength in exports. But property and construction activity, two of the economy s main growth drivers, are starting to slow under the weight of government measures to cool heated housing prices and higher borrowing costs. (Reuters) Regional Ericsson Mobility Report: 17mn 5G subscriptions in the MENA region by 2023 According to Ericsson Mobility Report, the first 5G subscriptions in the MENA region are expected during the period 2020 to 2022, reaching around 17mn subscriptions by By 2023, mobile subscriptions will grow from 1,590mn to 2,030mn, and LTE subscriptions will increase almost five-fold to 860mn in the same timeframe. Smartphone subscriptions will increase from 670mn to 1,510mn by 2023, resulting in data traffic per active Smartphone multiplying nearly six times over. (GulfBase.com) Saudi Arabia s non-oil private sector data signals robust growth Saudi Arabia s Purchasing Managers Index (PMI) data for October signaled a strong start to 4Q2017 for non-oil private sector. The PMI rose to 55.6 in October, up from 55.5 in September. This indicated a steep expansion in Saudi Arabia s non-oil private sector. Sharp growth of both output and new orders contributed to latest improvement in operating conditions. On the price front, an uptick in cost pressures was recorded, which according to anecdotal evidence led to higher selling prices. Business confidence improved during October, prompting firms to increase stocks of purchases at a record rate in anticipation of further improvements in economic conditions. (GulfBase.com) PIF working with Michael Klein and Evercore on strategy Saudi Arabia s Public Investment Fund (PIF), is working with rainmaker Michael Klein and Evercore to advise on its global investment strategy and financing plans, according to sources. Michael Klein, the former Citigroup Inc. investment banker who runs his own boutique, is advising PIF on its partnerships with international companies and working closely with Managing Director Yasir Al-Rumayyan. Evercore is providing advice on strategic and funding options, according to sources. (GulfBase.com) Saudi Arabia eyes investment in Turkmenistan Saudi Arabia s Energy Minister, Khalid Al Falih said that Turkmenistan presents investment opportunities for Saudi Arabian companies such as Saudi Aramco which is looking at investing in oil and gas globally. There are areas of investment for leading companies in Saudi Arabia in Turkmenistan, Al Falih said naming Saudi Basic Industries Corp (SABIC), mining firm Ma aden and Saudi Aramco. (GulfBase.com) UAE s non-oil private sector records strong growth in October The Emirates NBD Purchasing Managers Index (PMI) for the UAE rose to 55.9 in October from 55.1 in September, in a strong start to 4Q2017. Output and new orders increased at a sharp rate last month, with the output index rising to 60.5 and the new orders index a touch higher than September at October PMI data indicated an uptick in growth of UAE s nonoil private sector. Head of MENA Research at Emirates NBD, Khatija Haque said, The increase in the UAE s headline index in October reflects faster output growth and a sharp increase in inventories, as firms anticipate stronger demand in the coming weeks. However, the survey showed that firms continued to discount selling prices in order to support demand, and the employment growth remains modest. (GulfBase.com) UAE s cabinet approves AED201bn federal budget until 2021 UAE s Cabinet, presided over by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the federal budget for the years with a total of AED201.1bn, of which AED51.4bn is for the year 2018, with a zero deficit. The Cabinet adopted during its session the general federal budget for the fiscal year 2018 with estimated revenues of AED51.39bn and an estimated expenditure of AED51.39bn with zero deficits, in line with Government s objective to improve the efficiency of financial planning and its implementation to achieve the UAE Vision (GulfBase.com) FCCI plans to boost trade relations with EU The Fujairah Chamber of Commerce and Industry (FCCI) and the European Union Mission in the UAE discussed the economic and trade relations between the UAE in general, and the Emirate in particular, with the European Union (EU) countries. The parties also covered ways to promote ties between Fujairah s entrepreneurs and their counterparts in the EU. (GulfBase.com) UAE s Aman sells 10% stake in Kuwait s Boubyan Takaful Dubai Islamic Insurance and Reinsurance Co. (Aman) sold its 10% stake in Kuwait s Boubyan Takaful Insurance. (Reuters) SHUAA Capital eyes controlling stake in Global Investment House Dubai s SHUAA Capital aims to conclude a deal to acquire a stake in Kuwait-headquartered Global Investment House in the coming year. SHUAA Capital had said it was interested in a deal with a Kuwaiti financial services firm and now currently in talks with the shareholders of Global Investment for a controlling stake. The transaction is still subject to a commercial agreement between the parties and regulatory approvals. (GulfBase.com) Emirates NBD begin operations in India Emirates NBD marked the commencement of operations in India with the inauguration of its first branch in Mumbai. The branch will offer a range of services to corporate, SME and institutional clients including trade finance, treasury services, bilateral and syndicated loans in addition to supporting non-resident Indian customers looking for cross-border wealth management solutions. (GulfBase.com) Dubai eyes new record as tourist arrivals rose 7.5% A total of 11.58mn international visitors arrived in Dubai during 9M2017, reflecting a 7.5% increase YoY, keeping the Emirate on track for another record year in tourist volumes, according to Dubai s Department of Tourism and Commerce Marketing. India retained top spot on Dubai s list of source markets for inbound tourism, with 1,478,000 Indian tourists arriving in the city between January and September, registering a significant 20% rise over the same period in (GulfBase.com) China opens new business hub in Dubai Chinese Business Hub (CBH), UAE s first dedicated business centre for new Chinese start-up companies and SMEs, held its official opening ceremony. CBH s expertise lies in assisting Chinese companies and entrepreneurs to set up a business presence in the UAE and provide full business set-up services from start to finish, including fully furnished and equipped office space, Page 5 of 7

6 procurement support, trade license & visa issuance and dedicated receptionists and conference facilities. The impressive 30,000-square foot business facility boasts state-ofthe-art, modern offices and equipment, designed and operated to ensure a first-class, professional working environment for its business occupants. (GulfBase.com) Ithmaar Bank announces Deputy CEO appointments Ithmaar Bank, a Bahrain-based Islamic retail Bank, announced the promotion of its two most Senior Executives to the post of Deputy Chief Executive, and named Abdulhakeem Khalil Al Mutawa as Deputy CEO for Banking Group, and Ravindra Anant Khot Deputy as CEO for Support Group. (GulfBase.com) Bahrain s Dollar bonds fall Bahrain s Dollar bonds fell across curve on November 8, as assets across the GCC region continued to drop in the wake of a sweeping anti-graft crackdown in Saudi Arabia. (Reuters) Page 6 of 7

7 Rebased Performance Daily Index Performance Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 QSE Index S&P Pan Arab S&P GCC 1.2% 0.6% 0.0% (0.6%) (1.2%) (1.8%) (2.4%) 0.0% Saudi Arabia (0.9%) Qatar 0.6% 1.1% Kuwait Bahrain (0.9%) Oman (1.1%) Abu Dhabi (1.9%) Dubai Source: Bloomberg Source: Bloomberg Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%* Gold/Ounce 1, MSCI World Index 2, Silver/Ounce DJ Industrial 23, Crude Oil (Brent)/Barrel (FM Future) (0.3) S&P 500 2, Crude Oil (WTI)/Barrel (FM Future) (0.7) NASDAQ 100 6, Natural Gas (Henry Hub)/MMBtu (14.4) STOXX (0.5) 20.0 LPG Propane (Arab Gulf)/Ton (0.8) (3.3) 31.7 DAX 13, (0.8) 28.1 LPG Butane (Arab Gulf)/Ton # (5.0) (16.1) FTSE 100 7, (0.1) (0.0) 11.9 Euro (0.1) 10.3 CAC 40 5, (0.1) (0.9) 23.7 Yen (0.1) (0.2) (2.6) Nikkei 22, (0.0) GBP 1.31 (0.4) MSCI EM 1, CHF 1.00 (0.0) SHANGHAI SE Composite 3, AUD HANG SENG 28, (0.2) USD Index (0.0) (0.1) (7.2) BSE SENSEX 33, (0.1) (1.8) 30.6 RUB (0.2) 0.3 (3.7) Bovespa 74, BRL (0.0) RTS 1, (0.2) Source: Bloomberg ( # Market closed on November 8, 2017) Source: Bloomberg (*$ adjusted returns) Contacts Saugata Sarkar, CFA, CAIA Shahan Keushgerian Zaid al-nafoosi, CMT, CFTe Head of Research Senior Research Analyst Senior Research Analyst Tel: (+974) Tel: (+974) Tel: (+974) saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa Mohamed Abo Daff QNB Financial Services Co. W.L.L. Senior Research Analyst Contact Center: (+974) Tel: (+974) PO Box mohd.abodaff@qnbfs.com.qa 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 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 Analysis, expressed opinions and/or recommendations may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume). 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. This report may not be reproduced in whole or in part without permission from QNBFS. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS. Page 7 of 7