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1 QSE Intra-Day Movement 9,920 9,900 9,880 9,860 9,840 9,820 9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00 Qatar Commentary The QSE Index declined 0.6% to close at 9, Losses were led by the Telecoms and Banks & Financial Services indices, falling 1.0% and 0.7%, respectively. Top losers were Islamic Holding Group and Qatar International Islamic Bank, falling 2.6% and 1.9%, respectively. Among the top gainers, Zad Holding Company gained 5.0%, while Dlala Brokerage & Investment Holding Company was up 0.6%. GCC Commentary Saudi Arabia: The TASI Index fell 1.3% to close at 7, Losses were led by the Food & Beverages and Telecom. Serv. indices, falling 2.8% and 2.4%, respectively. Alujain Corp. declined 8.4%, while Saudi Industrial Investment was down 4.7%. Dubai: The DFM General Index declined 0.1% to close at 2, Services index fell 2.5%, while the Invest. & Fin. Services index declined 0.4%. Dubai Refreshments Company fell 10.0%, while Al Salam Sudan was down 4.8%. Abu Dhabi: The ADX General Index fell 0.3% to close at 4, The Consumer Staples index declined 6.4%, while the Energy index fell 1.3%. Emirates Driving Company declined 10.0%, while Agthia Group was down 9.7%. Kuwait: The Kuwait Main Market Index declined 0.1% to close at 4, The Insurance and Consumer Goods indices declined 0.5% each. KAMCO Investment Company fell 8.5%, while Kuwait Financial Centre was down 7.0%. Oman: The MSM 30 Index fell 0.2% to close at 4, Losses were led by the Services and Industrial indices, falling 0.4% and 0.3%, respectively. Raysut Cement fell 3.9%, while Sembcorp Salalah was down 2.3%. Bahrain: The BHB Index fell 0.1% to close at 1, The Services index declined 0.8%, while the Commercial Banks index fell 0.1%. Ithmaar Holding declined 4.8%, while Bahrain Telecommunication Company was down 1.6%. QSE Top Gainers Close* 1D% Vol. 000 YTD% Zad Holding Company Dlala Brokerage & Inv. Holding Co (23.3) Qatar Gas Transport Company Ltd Doha Bank (23.2) Barwa Real Estate Company Market Indicators 07 Oct Oct 18 %Chg. Value Traded (QR mn) (61.8) Exch. Market Cap. (QR mn) 550, ,667.8 (0.5) Volume (mn) (57.5) Number of Transactions 1,383 2,617 (47.2) Companies Traded Market Breadth 5:28 16:19 Market Indices Close 1D% WTD% YTD% TTM P/E Total Return 17, (0.6) (0.6) All Share Index 2, (0.5) (0.5) Banks 3, (0.7) (0.7) Industrials 3, (0.3) (0.3) Transportation 2, (0.2) (0.2) Real Estate 1, (0.6) (0.6) (5.0) 15.0 Insurance 3, (0.1) (0.1) (9.8) 28.1 Telecoms (1.0) (1.0) (13.1) 36.5 Consumer 6, (0.4) (0.4) Al Rayan Islamic Index 3, (0.4) (0.4) GCC Top Gainers ## Exchange Close # 1D% Vol. 000 YTD% Qurain Petrochemical Ind. Kuwait , GFH Financial Group Dubai ,956.6 (7.3) Burgan Bank Kuwait ,168.8 (8.7) Emaar Malls Dubai ,179.4 (14.6) Bank Muscat Oman GCC Top Losers ## Exchange Close # 1D% Vol. 000 YTD% Saudi Industrial Inv. Saudi Arabia (4.7) 1, Saudi Kayan Petrochem. Saudi Arabia (4.4) 23, Etihad Etisalat Co. Saudi Arabia (4.2) 2, Raysut Cement Oman 0.39 (3.9) 57.4 (49.5) Savola Group Saudi Arabia (3.8) 1,914.7 (26.9) 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% Islamic Holding Group (2.6) 6.7 (32.5) Qatar International Islamic Bank (1.9) Ooredoo (1.6) 33.8 (26.9) Qatar Fuel Company (1.2) Investment Holding Group 5.32 (1.1) 84.1 (12.8) QSE Top Volume Trades Close* 1D% Vol. 000 YTD% Qatar Gas Transport Company Ltd Mesaieed Petrochemical Holding Doha Bank (23.2) Qatar First Bank 4.82 (0.4) (26.2) Vodafone Qatar 8.67 (0.2) Regional Indices Close 1D% WTD% MTD% YTD% QSE Top Value Trades Close* 1D% Val. 000 YTD% Qatar Fuel Company (1.2) 17, QNB Group (0.6) 6, Qatar Gas Transport Co. Ltd , Doha Bank ,509.4 (23.2) Mesaieed Petrochemical Holding , Source: Bloomberg (* in QR) Exch. Val. Traded ($ mn) Exchange Mkt. Cap. ($ mn) P/E** P/B** Dividend Yield Qatar* 9, (0.6) (0.6) , Dubai 2, (0.1) (0.1) (1.6) (17.2) , Abu Dhabi 4, (0.3) (0.3) , Saudi Arabia 7, (1.3) (1.3) (1.3) , Kuwait 4, (0.1) (0.1) 0.0 (1.9) , Oman 4, (0.2) (0.2) (0.6) (11.4) , Bahrain 1, (0.1) (0.1) (1.1) (0.6) , Source: Bloomberg, Qatar Stock Exchange, Tadawul, Muscat Securities Market and Dubai Financial Market (** TTM; * Value traded ($ mn) do not include special trades, if any) Page 1 of 7

2 Qatar Market Commentary The QSE Index declined 0.6% to close at 9, The Telecoms and Banks & Financial Services indices led the losses. The index fell on the back of selling pressure from Qatari and GCC shareholders despite buying support from non-qatari shareholders. Islamic Holding Group and Qatar International Islamic Bank were the top losers, falling 2.6% and 1.9%, respectively. Among the top gainers, Zad Holding Company gained 5.0%, while Dlala Brokerage & Investment Holding Company was up 0.6%. Volume of shares traded on Sunday fell by 57.5% to 2.0mn from 4.7mn on Thursday. Further, as compared to the 30-day moving average of 6.1mn, volume for the day was 67.4% lower. Qatar Gas Transport Company Limited and Mesaieed Petrochemical Holding Company were the most active stocks, contributing 16.0% and 15.1% to the total volume, respectively. Overall Activity Buy %* Sell %* Net (QR) Qatari Individuals 42.68% 46.12% (2,339,650.54) Qatari Institutions 21.07% 22.53% (989,970.20) Qatari 63.75% 68.65% (3,329,620.74) GCC Individuals 1.05% 1.23% (124,869.75) GCC Institutions 3.66% 7.59% (2,665,984.92) GCC 4.71% 8.82% (2,790,854.67) Non-Qatari Individuals 19.58% 15.85% 2,534, Non-Qatari Institutions 11.97% 6.69% 3,585, Non-Qatari 31.55% 22.54% 6,120, Source: Qatar Stock Exchange (* as a % of traded value) Earnings Releases, Global Economic Data and Earnings Calendar Earnings Releases Company Market Currency Revenue (mn) % Change Operating Profit % Change Net Profit % Change 3Q2018 YoY (mn) 3Q2018 YoY (mn) 3Q2018 YoY Almarai Company Saudi Arabia SR 3, % % % Advanced Petrochemical Company Saudi Arabia SR % % % Source: Company data, DFM, ADX, MSM, TASI, BHB. Global Economic Data Date Market Source Indicator Period Actual Consensus Previous 10/07 China National Bureau of Statistics Foreign Reserves September $3,087.03bn $3,105.00bn $3,109.72bn 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 3Q2018 results No. of days remaining Status QNBK QNB Group 10-Oct-18 2 Due MARK Masraf Al Rayan 15-Oct-18 7 Due DBIS Dlala Brokerage & Investment Holding Company 15-Oct-18 7 Due MCGS Medicare Group 16-Oct-18 8 Due QNCD Qatar National Cement Company 17-Oct-18 9 Due QEWS Qatar Electricity & Water Company 17-Oct-18 9 Due QIBK Qatar Islamic Bank 17-Oct-18 9 Due DHBK Doha Bank 17-Oct-18 9 Due UDCD United Development Company 17-Oct-18 9 Due NLCS Alijarah Holding 18-Oct Due QISI The Group Islamic Insurance Company 21-Oct Due GWCS Gulf Warehousing Company 21-Oct Due ABQK Ahli Bank 21-Oct Due QIGD Qatari Investors Group 21-Oct Due IHGS Islamic Holding Group 22-Oct Due VFQS Vodafone Qatar 22-Oct Due KCBK Al Khalij Commercial Bank 23-Oct Due CBQK The Commercial Bank 23-Oct Due QIMD Qatar Industrial Manufacturing Company 25-Oct Due MERS Al Meera Consumer Goods Company 28-Oct Due QGMD Qatari German Company for Medical Devices 28-Oct Due AKHI Al Khaleej Takaful Insurance Company 28-Oct Due DOHI Doha Insurance Group 29-Oct Due ERES Ezdan Holding Group 29-Oct Due Source: QSE Page 2 of 7

3 News Qatar QIMD to disclose 3Q2018 financial statements on October 25 Qatar Industrial Manufacturing Company (QIMD) announced its intent to disclose 3Q2018 financial statements for the period ended September 30, 2018, on October 25, (QSE) QATI to disclose 3Q2018 financial statements on October 23 Qatar Insurance Company (QATI) announced its intent to disclose 3Q2018 financial statements for the period ended September 30, 2018, on October 23, (QSE) QFLS to disclose 3Q2018 financial statements on October 25 Qatar Fuel Company (QFLS) announced its intent to disclose 3Q2018 financial statements for the period ended September 30, 2018, on October 25, (QSE) Qatar s nominal GDP up 17.9% YoY at QR171.51bn in 2Q2018 Qatar s nominal GDP, measured at current prices, was estimated at QR171.51bn in 2Q2018, registering a remarkable increase of 17.9% YoY compared to the nominal GDP of QR145.50bn for the corresponding period last year, according to preliminary data released by the Ministry of Development Planning and Statistics (MDPS). When compared to previous quarter s (1Q2018) revised estimate of QR167.11bn, an increase of 2.6% was recorded. The real GDP, measured at constant prices of 2013, of QR204.36bn in 2Q2018, increased by 2.5% YoY compared to QR199.30bn for the same period in However, when compared to the previous quarter s (1Q2018) revised estimate of QR200.36bn an increase of 2.0% was recorded. (Peninsula Qatar) CEO: Doha Bank seeks to maintain stable loan-deposit ratio Doha Bank seeks to maintain a stable loan-to-deposit ratio even as its lending remains relatively stable of late, according to Doha Bank s CEO, R Seetharaman. Doha Bank s lending has been relatively stable of late, although we are currently reviewing a number of potential assets. Whilst any growth on the asset side of the balance sheet can be accommodated from existing Qatari Riyal funds, the bank seeks to maintain a stable loan to deposit ratio, Seetharaman said. Hence, as the asset side of the balance sheet adjusts, we look to adjust the liability side as well. Given the improving fundamentals of the market, these adjustments can be accommodated, he added. Meanwhile, Doha Bank will continue to open new branches in Qatar with a combination of digital, express banking and some full scale branches, Seetharaman said. He said the overall number of legacy branches will reduce and noted that Doha Bank plans to continue optimizing its retail growth by lowering costs and increasing revenue. This, he said, can be achieved through more efficient cross-selling to drive fee income, whilst continuing to bolster loans and deposits for interest income. (Gulf-Times.com) Al-Sada: Global oil market is balanced HE the Minister of Energy and Industry, Mohammed bin Saleh Al-Sada said that the global oil market is now balanced in terms of supply and demand, noting that the price could even rise due to shifts in sentiment and geopolitical changes. Speaking on the sidelines of a press conference held by the Ministry to announce the signing a MoU with Qatar University (QU), Al-Sada said the oil market has been witnessing a lot of developments recently. Some of those developments included the increase in demand globally and geopolitical changes, Al-Sada said, stressing that all those variables will be taken into consideration in the upcoming OPEC meeting. He added that OPEC and non-opec members, who participated in the agreement to lower production targets, were constantly monitoring these changes, pointing out that their goal is to reach a balance between supply and demand. The minister said the decision to continue working with the agreement will depend largely on the changes in the market, stressing that the parties involved were committed to having the market balanced. (Gulf-Times.com) QCSD reveals third quarter Treasury-bills registration data Qatar Central Securities Depository (QCSD) has registered Treasury bills (T-Bills) issued by Qatar Central Bank (QCB) for the third quarter of 2018 in its systems. T-Bills were registered with a date of issue on September 4, including three-month T- Bills with a value of QR175mn and a total number of 17,500 T- Bills, QNA reported. It also included six-month treasury T-Bills issued with the value of QR150mn. The total number of T-Bills issued was 15,000 and a maturity date of March 5, The QCSD has also registered bonds issued by QCB for the third quarter of 2018 in its systems. Bonds were registered with a date of issue on September 2, including three-month bonds with value of QR2bn and QR450mn, and maturity date of September 2, It also included five-month bonds issued with value of QR2bn and QR800mn. The total number of bonds issued was 280,000 and a maturity date of September 2, (Peninsula Qatar) Kahramaa announces bidding for QR2bn solar power plant by year-end Qatar General Electricity and Water Corporation (Kahramaa) has announced that the corporation will request for bidding for country s first large scale 700MW solar Photovoltaic (PV) power plant by year-end. The QR2bn power plant will be spreading over an area of 10 square kilometers in Doha West near Al Kharsaah. Kahramaa has completed the prequalification of 16 international solar power developers within the process of Kahramaa Request for Bids (RFB) for Qatar s first large scale solar Photovoltaic (PV) power plant planned to be released before the end of 2018, Kahramaa s President, Essa bin Hilal Al Kuwari said. Al Kuwari was speaking at a press conference at the headquarters of Kahramaa to announce the project. In the first stage, 350MW electricity will be connected to the grid by 2020 to achieve the objective of Qatar National Development Strategy (QNDS) , Al Kuwari said. (Peninsula Qatar) Qatar's trade with countries taking part in IPEC totaled QR20bn in 2017 Qatar s trade volume with 11 countries that are participating in the International Products Exhibition and Conference (IPEC), which begins today, totaled nearly QR20bn in 2017, official figures showed. The three-day event is being held under the patronage of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, at the Doha Exhibition and Convention Center. The participating countries are; Turkey (two-way trade volume of QR4.9bn), Pakistan (QR5.86bn), Oman (QR4bn), Kuwait (QR3bn), Jordan (QR1.07bn), Iran (QR357mn), Morocco (QR330.5mn), Tunisia (QR208.8mn), Algeria (QR166.5mn), Tajikistan (QR1.5mn) and Azerbaijan (QR9.5mn). IPEC will host a specialized conference Page 3 of 7

4 that brings together representatives of participating countries, business associations, private business owners, and entrepreneurs, with Qatari private and public bodies, to examine Qatar s achievements, projects, and plans towards the Qatar National Vision (Gulf-Times.com) Ashghal official: Blockade helped improve market competitiveness The unjust blockade imposed by the Arab quartet against Qatar over a year ago in early June 2017, worked as catalyst to improve market competitiveness, both in terms of price and quality of goods, especially construction materials, noted a senior official of the local Public Works Authority (Ashghal). With the opening of the market and new sources of supplies outside the GCC region, the competitive market environment has not only proved beneficial for the customers, but also for the suppliers. There is a feeling of increased reliability, sustainability and supply security among all the stakeholders. (Peninsula Qatar) Just Real Estate offers new luxury investment opportunity in London Just Real Estate (JRE) has announced the latest overseas premium investment opportunity in its everexpanding portfolio of high-end properties. JRE brings an unrivalled prospect to own prime, ultramodern real estate in the heart of London. The Dumont, situated on the coveted Albert Embankment, is an exclusive riverside address overlooking an expansive stretch of the world-famous River Thames and many of London s most illustrious landmarks, including The Houses of Parliament and London Eye, complemented by panoramic views of historic Chelsea and Battersea. (Gulf-Times.com) SalamAir opens first office in Doha SalamAir, Oman s first budget airline opened its first office in Doha to help better service the increasing demand for flights between Oman and Doha. Opening of the new office follows a strong interest among passengers for airline s Doha-Muscat route. (Peninsula Qatar) ORYX GTL supplies Germany s HGM with clean GTL diesel Qatar s ORYX GTL has supplied HGM Energy with clean GTL diesel, thus helping it become the first German energy company to introduce this product directly into the German market. Demand for high quality clean burning diesel, with high cetane, almost no sulphur and limited emissions is driven by public opinion, new legislation and fuel efficiency requirements. ORYX GTL diesel s unique nature, resulting from its feedstock, (natural gas), and production process, (FT technology), makes it an ideal diesel grade to fulfill these objectives. ORYX GTL is a joint venture, formed between Qatar Petroleum and Sasol (South Africa) with its production facilities based in Ras Laffan Industrial City. The two companies decided to capitalize on their resources; large gas reserve as well as developed infrastructure and experience in the Fischer Tropsch technology. ORYX GTL was established in 2000, followed by construction from (Gulf-Times.com) International Brexit uncertainty is starting to bite for UK firms Britain s businesses are suffering from Brexit-related uncertainty as exports slow, recruitment difficulties mount and investment plans are scaled back, two surveys showed. The British Chambers of Commerce stated its survey of 5,600 companies, the largest of its kind in Britain, showed services firms were having the most trouble finding staff since the survey began in 1989, and growth in factory exports was the slowest since late Last week, Prime Minister Theresa May told her Conservative Party to back her plan to leave the European Union (EU) as Britain entered the toughest part of the negotiations. Diplomatic sources said that the EU s Brexit negotiators see a divorce deal as very close. Britain s economy has lagged behind the growth rate of many other rich countries for much of the period since the 2016 Brexit vote. The BCC s quarterly survey showed that the percentage of services businesses looking to recruit more staff over the next three months fell to 47% from 60%, the lowest since the first quarter of Seventy-two percent of firms reported recruitment difficulties, the highest on record. For manufacturers, growth in both export sales and new export orders was the slowest since the end of (Reuters) Japan's Abe says will welcome Britain to TPP Japan will welcome Britain with open arms into a Trans Pacific trade pact (Trans-Pacific Partnership - TPP), Prime Minister Shinzo Abe said. Abe, one of British Prime Minister Theresa May s closest international allies, also said he hoped both sides in Britain s deadlocked Brexit negotiations with the European Union (EU) would be able to reach a compromise to avoid a disorderly Brexit. British Trade Minister Liam Fox said in July he will consult the public about a possible bid to join the Pacific trade group that includes Canada, Australia and Mexico, once Britain leaves the EU. May s government has touted the freedom to strike new trade deals outside the EU as one of the main economic benefits of Brexit, but its ability to do so can yet depend on the outcome of negotiations in Brussels. Both sides are hoping to agree a deal by November, but the stalled negotiations have left some investors worried that Britain can end up leaving the bloc without a deal - an outcome that many say will damage the British economy. (Reuters) China s services sector expands in September China s services sector grew at its fastest clip in three months in September on improved demand, a private survey showed, though sentiment worsened as firms started shedding jobs after over two years of expansion, while rising cost pressures pointed to a squeeze on profit margins. The Caixin/Markit services purchasing managers index (PMI) rose to 53.1 in September from 51.5 in August, and staying above the 50 level that separates growth from contraction. The faster growth is a welcome signal for a key part of the world s second-largest economy as it faces rising headwinds from a heated trade row with the US. An official gauge of the non-manufacturing sector for last month published on September 30, also pointed to continued expansion, which analysts say was largely driven by a jump in construction in a sign the government s fiscal easing may be gaining traction. Survey showed most of the pick-up came from higher new business orders, as the sub-index rose at its quickest pace in three months with a reading of 52.4, compared to 51.7 in August. (Reuters) China slashes banks' reserve requirements as trade war imperils growth China s central bank announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid concerns over the economic drag from an escalating trade dispute with Page 4 of 7

5 US. The reserve requirement cut, the fourth by the People s Bank of China (PBOC) this year, comes as Beijing has pledged to expedite plans to invest billions of Dollars in infrastructure projects as the economy shows signs of cooling further, with investment growth slowing to a record low. Reserve requirement ratios (RRRs) - currently 15.5% for large commercial lenders and 13.5% for smaller banks - would be cut by 100bps effective October 15, 2018, the PBOC said, matching a similar-sized move in April. Economists predicted further cuts ahead. (Reuters) Regional Projects worth $2.4tn in GCC offers vast opportunities With an estimated $2.4tn of projects planned across the GCC, the region still offers abundant opportunities as governments seek to develop infrastructure to meet the needs of rapidly expanding populations and to deliver economic diversification. While the need for infrastructure has never diminished, the crash in oil prices from 2014 to 2016 has seen major changes to the market. The value of contract awards has fallen by about $180bn a year in 2016 and This reduced the level of awards, set to continue in 2018 and (GulfBase.com) Saudi Arabia s sovereign fund purchases SR2.17bn land plot in northern Riyadh Saudi Arabia s sovereign wealth fund has purchased a huge plot of land in northern Riyadh for SR2.17bn in what the auction operator and Saudi Arabian media described as the largest real estate transaction in the Kingdom. (Reuters) Cloud and Microsoft ecosystem to create 63,400 jobs in Saudi Arabia Microsoft s technology ecosystem and the growing popularity of cloud services will create more than 63,400 jobs in Saudi Arabia by the end of 2022, according to a new research by the International Data Corporation (IDC). IDC s white paper analyses the impact of ICT, cloud services, and the Microsoft ecosystem on Saudi Arabian economy between 2017 and 2022, covering a decade of IDC regional findings. The research showed that implementation of nationwide initiatives such as Saudi Vision 2030 and efforts of the Saudi Communications and Information Technology Commission to organize the cloud services and other initiatives focused on banking, healthcare, transportation and education, has led to a rise in IT spending and employment. IDC predicts spending on public cloud services in Saudi Arabia will almost quadruple over the next five years, from SR427.68mn in 2017 to SR1.57bn in (GulfBase.com) Etihad Airways said to face investor challenge on bond commitment A group of creditors to entities set up to finance affiliates of Etihad Airways stated in a letter to the airline they were misled on its commitments to support part-owned carriers, two of which are now insolvent, according to sources. The investors said they bought bonds issued by EA Partners between 2015 and 2016 after Etihad Airways implied it would back the affiliates including struggling carriers Alitalia and Air Berlin. The group, represented by law firm Dechert, has sent a letter to Etihad Airways asking to discuss the matter with its management and Abu Dhabi s Department of Finance. Etihad Airways set up two vehicles, EA Partners I and II, which sold $1.2bn of securities to raise funds for several airlines in which it owned stakes. (Gulf-Times.com) Dubai s FDI rises to AED17.76bn in 1H2018 FDI into Dubai recorded significant growth in 1H2018, reaching AED17.76bn, 26% increase compared to the first half of last year, while the number of FDI projects increased to 248, an increase of 40% over the same period last year, according to the Dubai FDI Monitor data issued by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai. Dubai s Crown Prince, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said, The rise in FDI capital and projects reinforces Dubai s leading position as the preferred global location for global businesses and startups pursuing growth and expansion and clearly reflects investor confidence in Dubai s economy. Dubai also ranks third globally in the number of greenfield FDI projects, according to the Financial Times fdi Markets, accounting for 64% of total FDI projects in 1H2018. Dubai s ability to maintain its position as one of the top FDI destinations in the world reflects the confidence of the global investor community in its business environment and its ability to offer diversified investment opportunities in key growth sectors, especially knowledge and technology. (GulfBase.com) ADX lists Aldar Investments $500mn Sukuk Abu Dhabi Securities Exchange (ADX), together with Aldar Properties, rang the market opening bell to celebrate the listing of Aldar Investments new Sukuk worth $500mn, marking the first corporate Sukuk ever to be listed on the exchange. The Sukuk was raised at a profit rate of 4.75% with a 7-year tenor. There was strong investor demand for the issue, reflecting Aldar Investments status as the region s highest rated nongovernment related corporate. Aldar Investments is 100% owned subsidiary of Aldar Properties, whose shares are also listed on ADX. (ADX) Eshraq Properties needs immediate focus to build its land bank Abu Dhabi-based Eshraq Properties has shelved merger and acquisition plans in favor of developing its own projects. This, after it failed to reach a deal to merge with Reem Investments. Ajit Joshi, a member on Eshraq Properties board of directors and Investment Director at ADCM Altus Investment Management, said Eshraq Properties is instead focusing on developing its land bank as soon as possible. His comments come after Eshraq Properties in late June stated it is dropping plans to merge with Reem Investments, a deal which would have created Abu Dhabi s second largest listed property developer. (GulfBase.com) NMDC wins Khalifa Port expansion contract worth AED985.17mn Abu Dhabi's National Marine Dredging Company (NMDC) stated it has been awarded an AED985.17mn contract for the expansion of Khalifa Port in the UAE s capital. On completion, its total annual capacity will reach 5.6mn vessels. The Khalifa Port s free zone includes around 40 companies in different business segments, such as industrial and commercial businesses. (GulfBase.com) Borealis to build $1.2bn plant in Belgium Plastics maker Borealis, owned by Abu Dhabi state fund Mubadala and energy group OMV stated it will build $1.2bn plant in Belgium to boost its capacity to produce polypropylene in Europe. The new site will produce 750,000 tons of polymer-grade propylene per year, Page 5 of 7

6 making it one of the largest and most efficient facilities in the world, Borealis stated. (Reuters) Revenues of luxury hotels in Oman increase The total revenue of Omani hotels under the three to five star category rose by 8.8% to OMR117.5mn until the end of July 2018 from OMR108mn for the corresponding period of last year. According to the latest monthly statistics released by the National Centre for Statistics and Information (NCSI), hotel occupancy rates also increased by 4.4% to 57.2% till the end of July 2018, against 54.8 % for the same period last year. However, the total number of guests in Omani hotels in January-July period of 2018 declined by 5.3 % to 819,829 from 866,020 for the same period of (GulfBase.com) Oman unveils plan for second mega solar project Taking its ambitious renewable energy development program into higher gear, Oman has unveiled plans for the procurement of a second utility scale solar power plant, this time around sized at up to a world scale 1 gigawatts (GW). According to Oman Power and Water Procurement Company, the mega scheme, the sole procurer of new power and water capacity under the sector law, will be a solar photo-voltaic (PV) based Independent Power Project (IPP) due for commercial launch in (GulfBase.com) Bahrain's parliament approves draft VAT law Bahraini legislators approved a draft law that would see value-added tax (VAT) imposed for the first time in the Kingdom, state news agency BNA reported. The move came a few days after Bahrain s wealthier neighbors Saudi Arabia, the UAE and Kuwait offered a $10bn aid package to avoid the risk of a debt crisis in the country, which was also tied to fiscal reforms. The House of Representatives approved a Gulf Arab agreement to introduce VAT after a royal decree ordered parliament to hold an extraordinary session, BNA reported, without giving details of the vote. The bill is yet to be approved by the parliament s upper house, which is expected to hold a similar session later this week. (Reuters) Page 6 of 7

7 Saudi Arabia Qatar Kuwait Bahrain Oman Abu Dhabi Dubai Rebased Performance Daily Index Performance % 0.0% (0.7%) (1.4%) (1.3%) (0.6%) (0.1%) (0.1%) (0.2%) (0.3%) (0.1%) 45.0 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 QSE Index S&P Pan Arab S&P GCC Source: Bloomberg Source: Bloomberg Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D%* WTD%* YTD%* Gold/Ounce 1, (7.7) MSCI World Index 2, (0.6) (1.5) 2.3 Silver/Ounce (0.3) (13.5) DJ Industrial 26, (0.7) (0.0) 7.0 Crude Oil (Brent)/Barrel (FM Future) (0.5) S&P 500 2, (0.6) (1.0) 7.9 Crude Oil (WTI)/Barrel (FM Future) NASDAQ 100 7, (1.2) (3.2) 12.8 Natural Gas (Henry Hub)/MMBtu 3.28 (3.2) 7.7 (7.3) STOXX (0.8) (2.6) (7.4) LPG Propane (Arab Gulf)/Ton (3.7) 6.4 DAX 12, (1.0) (2.0) (10.2) LPG Butane (Arab Gulf)/Ton (0.4) (4.1) 17.2 FTSE 100 7, (0.7) (2.2) (7.8) Euro (0.7) (4.0) CAC 40 5, (0.9) (3.3) (3.4) Yen (0.2) Nikkei 23, (0.7) (1.5) 3.5 GBP (2.9) MSCI EM 1, (1.0) (4.5) (13.6) CHF 1.01 (0.0) (1.0) (1.8) SHANGHAI SE Composite 2, (19.2) AUD 0.71 (0.3) (2.4) (9.7) HANG SENG 26, (0.2) (4.5) (11.5) USD Index (0.1) BSE SENSEX 34, (2.7) (7.2) (13.1) RUB (0.6) Bovespa 82, (8.1) BRL (13.8) RTS 1, (0.1) (2.7) 0.4 Source: Bloomberg Source: Bloomberg (*$ 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) QNB Financial Services Co. W.L.L. Contact Center: (+974) PO Box 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