1

Reuters: According to the National Association of Business Economists (NABE), US economy is forecasted to grow a touch faster in 2018 by around 2.4% compared to an estimated 2.2% this year, largely driven by expected tax reductions and spending increases by the Trump Administration. Worker pay, busi-ness investment and productivity should all rise in 2018, but not at a rate strong enough to push US growth above 3%. But economists are skeptical it will add a big boost, no more than 0.2 to 0.3 pp. The US historically has grown more than 3% a year and at times even faster, but in the absence of such high rates of growth, dangerous imbalances apparently have failed to materialize. The slower rate of growth of around 2% a year since the end of the 2007-2009 recession, also means the Fed is unlikely to raise interest rates as high as it normally does. The NABE predicts that the short-term interest rate by the Fed will rise to 2.125% by the end of 2018, but that’s still quite low by historical standards. While inflation is not much of a danger, economist predict annual prices increases will top out at no more than 1.9% in 2018, using the Fed’s preferred PCE inflation gauge. A recovery now nine years old could end up becoming the longest on record if the economy avoids a downturn in the next two years. Zawya: According to the latest “Global Competitiveness Index 2017-2018 edition”, the MENA region improves its average performance this year, suggesting that measures to diversify economies away from gas and oil are starting to bear fruit, although much needs to be done to lift the region’s overall competitive-ness. Within the region, the UAE is the leading economy in the Arab World, ranking 17 out of 137 countries, followed by Qatar (25), Saudi Arabia (30), Bahrain (44), Kuwait (52) and Oman (62). The region’s most improved economy this year is Egypt (up 14 to 101). While the UAE improves its overall competitiveness score, it falls one place in the Global Competitiveness Index compared to the previous 2016-17 report. The UAE has among the most efficient goods market in the world (3rd) as well as world-class infrastructure and institutions (both 5th). The country is home to a high level of sophisticated businesses (13th) and has been making improvements in recent years to its Innovation (25) and Technological Readiness (24). Saudi Arabia also slips one position, with a relatively stable overall performance, as the macroeconomic environment has improved slightly after the 2015 oil price shock, but financial market efficiency (down 10, 57th) has deteriorated as interest rates increased in 2016 and credit growth slowed. Switzerland topped the rankings for the ninth straight year, while the US moved up one place to second. The UK has fallen down a global list of the most competitive nations and experts are warning that Brexit could see the country slip further. Al Masah Capital: Regional markets ended the last week of the month and the quarter mainly on a negative note, with six out of the eight indices being in the red which was backed by the lack of catalysts to move the markets. On a weekly basis, Kuwait came in as the worst performer among its peers with a -2.5%, followed by Dubai and Bahrain markets each down by -1.9%, Abu Dhabi -1.3%, while Saudi and Qatar both lost -0.6%. Egypt was the best performer with gains of +1.4% and Oman gained +0.7% over the same period. With the end of the third quarter in 2017, Qatar remains the worst performer among its peers by -20.4%, while Kuwait still maintaining the lead in terms of the best performer with gains of +16.2%. Crude oil prices advanced by 11.95% during the month of September reaching as high as USD 58.43 per barrel on the back of disruptive US hurricane season and signals that OPEC members are willing to extend the cuts till the end of 2018. Geopolitical tensions coupled with lack of news flow will be affecting regional markets for the coming period.

Data and News Source: Thomson Reuters

Weekly Investment Report

Sunday, October 01, 2017

Economic & Market News

Indexes Last WTD (%) MTD (%) YTD (%)

DJI 22,405.09 0.25% 2.08% 13.37%

S&P 500 2,519.36 0.68% 1.93% 12.53%

NASDAQ 5,979.30 0.79% -0.16% 22.94%

STOXX Europe 600 388.16 1.29% 3.82% 7.40%

FTSE 100 7,372.76 0.85% -0.78% 3.22%

DAX 12,828.86 1.88% 6.41% 11.74%

CAC 40 5,329.81 0.92% 4.80% 9.61%

Nikkei 225 20,356.28 0.29% 3.61% 6.50%

SENSEX 31,283.72 -2.00% -1.41% 17.49%

Shanghai Composite 3,348.94 -0.11% -0.35% 7.90%

Hang Seng 27,554.30 -1.17% -1.49% 25.24%

Commodities & FX Last WTD (%) MTD (%) YTD (%)

Oil (Brent) 57.54 1.20% 9.85% 54.35%

Natural Gas 3.01 1.62% -1.09% 28.67%

Gold 1279.10 -1.38% -3.22% 20.57%

Silver 16.61 -2.05% -5.47% 20.07%

EURUSD 1.18 -1.17% -0.81% 8.77%

GBPUSD 1.34 -0.70% 3.61% -9.11%

USDJPY 112.47 0.45% 2.28% -6.51%

USDCHF 0.97 -0.10% 0.99% -3.37%

AUDUSD 0.78 -1.62% -1.42% 7.67%

USDCAD 1.25 1.06% -0.10% -9.91%

LIBOR US Dollar WoW (%) Euro WoW (%)

1 Month 1.269 -0.20% -0.389 -0.18%

2 Month 1.334 0.37% -0.379 0.38%

3 Month 1.506 0.60% -0.309 1.41%

6 Month 1.453 0.00% -0.300 0.14%

12 Month 1.736 -0.02% -0.187 0.16%

Indexes Last WTD (%) MTD (%) YTD (%)

Dubai (DFMGI) 3,563.99 -1.89% -2.02% 0.94%

Abu Dhabi (ADSMI) 4,397.40 -1.29% -1.59% -3.28%

Saudi (SASEIDX) 7,283.01 -0.59% 0.34% 1.01%

Kuwait (KWSE) 6,679.73 -2.47% -3.08% 16.21%

Egypt (EGX30) 13,888.51 1.41% 3.52% 12.50%

Qatar (DSM) 8,312.43 -0.58% -5.55% -20.35%

Bahrain (BHSEIDX) 1,283.46 -1.87% -1.46% 5.16%

Oman (MSM30) 5,137.35 0.72% 1.68% -11.16%

TR GCC (Reuters) 194.67 -1.67% -2.18% -3.91%

DJ MENA 525.29 -1.10% -0.70% 5.49%

2 Data and News Source: Thomson Reuters

Zawya: According to the Central Bank, the Kingdom's foreign reserves fell in August to their lowest level since April 2011, drawn down to cover a budget deficit

caused by low oil prices. The central bank's net foreign assets shrank by USD 6.9 billion from their level in July to USD 480 billion. The assets dropped 13.4% Y-o-Y; they peaked at USD 737 billion in August 2014. Foreign securities holdings dropped only slightly in August, edging down by USD 264 million from the previous month

to USD 332.6 billion, while foreign bank deposits shrank USD 6.2 billion to USD 89.2 billion. Foreign assets dropped in August despite the government's issue of SAR

13 billion of local currency Islamic bonds during the month to cover part of its deficit, a sign that pressure on its finances remains heavy. The data also showed that o/s bank loans to private sector fell 1.0% Y-o-Y in August, a sign of a weak economy. It was sixth straight month of falling bank lending; loans dropped 1.3% in July.

Reuters: According to a survey from IHS Markit, Euro zone private businesses ended the Q3 growing much more strongly than predicted, bolstered by manufactur-ers, indicating that the momentum should carry on into October. IHS Markit’s euro zone Flash Composite PMI for September, seen as a good guide to economic

growth, bounced to 56.7 from 55.7 last month, above all forecasts in a Reuters poll, which had predicted a dip to 55.5. The euro zone PMI suggests that the economy

remains very strong and will embolden policymakers at the ECB. The PMI pointed to Q3 growth of 0.7%, faster than the median forecast in a Reuter’s poll last week for 0.5%. The upturn came despite businesses increasing prices at one of the fastest rates this year. The output price index rose to 52.6 from 52.1. This rounds out a

run of data that provide evidence of building pipeline inflation pressures. This will help to build a case for ECB tapering next year. The ECB will announce in October a

six-month extension to its asset purchase program but will cut how much it buys each month to EUR 40 billion from January, a Reuters poll of economists last week. The backlog of work index was 57.8, compared with August’s 57.1. Firms are scrambling to expand capacity as fast as possible to meet order-book growth and rising

backlogs is presenting them with huge problems. Companies in the bloc’s dominant service industry also had a much better month than expected PMI rose to 55.6.

A Reuter’s poll had predicted no change from 54.7 last month. The business expectations index jumped to 66.1 from 64.0.

Zawya: According to the IMF, Egypt has made a good start to its IMF-backed reform programme despite seeking waivers for missing some targets in June, including primary fiscal balance and fuel subsidy bill requirements, but inflation remains the main risk for stability. The IMF has already approved USD 4 billion in loan install-

ments, most recently releasing USD 1.25 billion, as a part of Egypt's USD 12 billion three-year IMF loan programme agreed in November last year, to help revive an

economy where subsidies accounted for a quarter of state spending. Inflation reached three-decade highs in July after fuel price hikes under the IMF deal, and has since dipped, though high costs have hit many Egyptians hard in the import-dependent state. The IMF said in a review of the programme, Egypt's reform program is

off to a good start, the transition to a flexible exchange rate went smoothly, the parallel market has virtually disappeared and central bank reserves have increased

significantly. Market confidence is returning and capital flows are increasing, indicating positivity for the future growth. The authorities' immediate priority is to reduce inflation, which poses a risk to macroeconomic stability. The IMF said the country's current account deficit was seen narrowing to 4.6% of GDP in FY 2017/18

and to 3.8% in FY 2018/19, while primary fiscal deficit was seen at 1.8% of GDP, exceeding the programme target of 1%.

Economic & Market News (continued)

Weekly Investment Report

Sunday, October 01, 2017

60

70

80

90

100

110

120

130

Oct-14 Dec-14Mar-15May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17May-17 Jul-17

Global Equity Indexes - Rebased

S&P 500 STOXX Europe 600 TR MENA MSCI Asia ex. Japan

0.966 1.0291.185 1.300

1.443

1.871

2.262

2.796

0.949 1.0571.196 1.300

1.479

1.928

2.326

2.858

0

1

2

3

4

1M 3M 6M 12M 2Y 5Y 10Y 30Y

US Government Bonds - Yield to Maturity (%)

Last Week Current Week

132.4

63.186.3

-

352.1

98.6

239.3

-

162.0

0

300

600

Dubai Abu Dhabi Saudi Kuwait Egypt Qatar Bahrain Oman Average

5-Year CDS Rates (basis points)

10.3 11.0

14.0

-

11.4 11.2

-

8.7

12.3

1.2 1.5 1.7-

2.11.2 0.8 1.0 1.5

0

4

8

12

16

Dubai Abu Dhabi Saudi Kuwait Egypt Qatar Bahrain Oman Average

PE PBMENA Market - Price Ratios

0

10

20

30

40

Oct

-14

No

v-1

4

De

c-1

4

Jan

-15

Feb

-15

Mar

-15

Ap

r-1

5

May

-15

Jun

-15

Jul-

15

Au

g-1

5

Sep

-15

Oct

-15

No

v-1

5

De

c-1

5

Jan

-16

Feb

-16

Mar

-16

Ap

r-1

6

May

-16

Jun

-16

Jul-

16

Au

g-1

6

Sep

-16

Oct

-16

No

v-1

6

De

c-1

6

Jan

-17

Feb

-17

Mar

-17

Ap

r-1

7

May

-17

Jun

-17

Jul-

17

Au

g-1

7

Sep

-17

CBOE S&P Volatility Index - VIX

3

Government Bonds

Government Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask

UAE - Emirate of Abu Dhabi ABU DHABI GOVT INT'L USD 08/04/2019 6.75 1.94 1.94 Aa2 107.13 107.20

United States of America US TREASURY N/B USD 31/05/2020 1.50 1.60 1.58 AAA 99.75 99.77

United Kingdom of Great Britain UK TSY 4 3/4% 2020 GBP 07/03/2020 4.75 0.45 0.45 Aa2 110.38 110.42

Kingdom of Bahrain KINGDOM OF BAHRAIN USD 31/03/2020 5.50 4.59 4.59 102.89 103.21

UAE - Emirate of Dubai DUBAI GOVT INT'L BONDS USD 05/10/2020 7.75 2.66 2.70 114.63 115.13

United States of America US TREASURY N/B USD 15/05/2025 2.13 2.23 2.22 AAA 99.28 99.30

State of Qatar STATE OF QATAR USD 15/06/2030 9.75 3.89 3.89 Aa3 158.31 159.31

Arab Republic of Egypt ARAB REPUBLIC OF EGYPT USD 30/04/2040 6.88 7.15 7.17 B3 96.89 97.51

United States of America US TREASURY N/B USD 15/05/2045 3.00 2.85 2.84 AAA 102.81 102.84

Kingdom of Bahrain KINGDOM OF BAHRAIN USD 19/09/2044 6.00 7.23 7.23 BB+ 85.51 86.20

Data and News Source: Thomson Reuters * Thomson Reuters composite rating; NR = No Rating

Corporate Bonds

Government/Parent Company Bond Name Currency Maturity Coupon Current Yield (%) YTM - Ask (%) Rating * Bid Ask

Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 01/08/2018 7.25 2.18 2.18 BBB+ 104.13 104.18

Abu Dhabi Water & Electricity TAQA ABU DHABI NATL ENER USD 16/09/2019 6.25 2.54 2.54 BBB+ 107.01 107.11

Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2019 6.75 2.67 2.64 A 107.87 107.97

National Bank of Oman NATIONAL BANK OF OMAN USD 07/10/2019 3.13 3.29 3.27 Baa3 99.69 99.78

Qatari Diar Real Estate Invest QATARI DIAR FINANCE QSC USD 21/07/2020 5.00 2.89 2.89 Aa3 105.63 106.38

Stichting Waha Aerospace WAHA AEROSPACE BV USD 28/07/2020 3.93 2.53 2.53 AA 102.13 102.88

Qatar Petroleum RAS LAFFAN LNG II USD 30/09/2020 5.30 3.22 3.22 A 103.51 103.60

Investment Corp of Dubai EMIRATES NBD PJSC EUR 23/03/2022 1.75 1.12 1.13 A+ 102.71 103.41

Saudi Electricity Co SAUDI ELECTRICITY GLOBAL USD 03/04/2022 4.21 2.98 2.95 A 105.15 105.90

Emaar Malls Group PJSC EMG SUKUK LTD USD 18/06/2024 4.56 3.76 3.76 Baa2 104.75 105.25

Emirate of Sharjah United Arab SHARJAH SUKUK LTD USD 17/09/2024 3.76 3.24 3.24 BBB+ 103.24 103.56

Qatar Petroleum RAS LAFFAN LNG 3 USD 30/09/2027 5.84 3.61 3.61 A 114.10 114.45

Qatar Gas Transport Co Ltd NAKILAT INC USD 31/12/2033 6.07 3.99 3.99 A 117.74 118.22

Port & Free Zone World FZE DP WORLD LTD USD 02/07/2037 6.85 4.98 4.98 BBB+ 123.36 124.36

Burgan Bank SAK BURGAN TIER 1 FINANCING USD Perpetual 7.25 6.14 7.13 102.06 102.77

Emirates NBD PJSC EMIRATES NBD 2014 TIER 1 USD Perpetual 6.38 4.64 6.03 104.75 105.75

Weekly Investment Report

Sunday, October 01, 2017

4 Data and News Source: Thomson Reuters

EIBOR 1 Week 1 Month 2 Months 3 Months 6 Months 12 Months

1.1145 1.3472 N/A 1.5582 1.7882 2.1727

Deposit Rates T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.16 0.50 1.21 1.23 1.28 1.42 1.57 1.69

Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years

1.84 2.09 2.32 2.54 2.76 3.20 3.77

UA

E

Money Markets

SAIBOR 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.46 2.03 1.79 2.05 2.39 2.24

Deposit Rates T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

0.80 0.40 1.00 1.26 1.50 1.88 2.10 2.36

Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years

2.00 2.57 2.81 3.08 3.28 3.28 3.64

Sau

di

KIBOR O/N 1 Month 3 Months 6 Months 1 Year 2 Years 3 Years

0.75 1.56 1.75 2.00 2.31 1.88 2.13

Deposit Rates O/N T/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

0.35 0.37 1.27 1.25 1.28 1.31 1.46 1.61 1.72

Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years

1.87 2.09 2.19 0.00 2.35 2.4600 2.6100

Ku

wai

t

EGIBR O/N < 1 Week 1 Week < 1 Month 1 Month > 1 Month

10.90 9.20 9.31 11.10 11.10 8.85

Bank Rates Re Discount Lending Benchmark

9.25 9.75 8.75

T-Bill Yields 1 Week 1 Month 3 Months 6 Months 9 Months 1 Year 2 Years 3 Years

10.80 11.30 11.50 11.65 11.75 11.80 12.40 12.70

Egyp

t

QIBOR O/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

0.82 0.88 0.97 1.06 1.14 1.29 1.37 1.47

Deposit Rates 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.18 1.22 0.90 1.23 1.25 1.31 1.75

QCB Interest Rates O/N Deposit O/N Lending Repo Rate

0.75 4.50 4.50

Qat

ar

BHIBOR O/N 1 Week 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months

1.38 1.65 2.25 2.30 2.45 2.60 2.80 3.08

Interest Rates O/N Deposit 1W Deposit O/N Repo O/N Secured

1.10 1.00 3.25 3.25

Swap Rates 1 Year 2 Years 3 Years 4 Years 5 Years 7 Years 10 Years

2.56 2.73 2.85 2.93 3.00 3.13 3.28

Bah

rain

Weekly Investment Report

Sunday, October 01, 2017

5 Data and News Source: Thomson Reuters

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

ISLAMIC ARAB INSURANCE CO PSC 0.48 6.01% -8.64% 576

UNION PROPERTIES PJSC 0.90 4.99% -13.60% 3,878

NATIONAL CENTRAL COOLING CO PJSC 2.11 4.46% 4.98% 5,730

NATIONAL CEMENT CO PSC 3.15 1.61% 8.62% 1,130

ARAMEX PJSC 4.98 1.01% 22.36% 7,292

Du

bai

Top Weekly Performers by Country (* indicates native currency; Data as of the previous Thursday)

Ab

u D

hab

i Sa

ud

i K

uw

ait

Egyp

t Q

atar

Top Losers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

OMAN INSURANCE COMPANY PSC 1.80 -9.55% 28.57% 831

AL RAMZ CORPORATION INVESTMENT 1.40 -6.04% -9.68% 770

DXB ENTERTAINMENTS PJSC 0.76 -5.00% -41.54% 6,080

DAR AL TAKAFUL PJSC 0.99 -4.37% -16.39% 148

SHUAA CAPITAL PSC 1.12 -4.27% -24.32% 1,193

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

AL KHALEEJ INVESTMENT CO PJSC 3.50 44.03% 211.44% 368

NATIONAL BANK OF FUJAIRAH PJSC 3.70 23.33% -16.79% 5,056

UNITED ARAB BANK PJSC 1.66 14.48% 3.75% 2,283

ABU DHABI AVIATION 2.99 8.33% -0.33% 1,330

AL KHALEEJ INVESTMENT CO PJSC 1.40 6.87% 24.58% 147

Top Losers Close

* WTD % YTD %

Mkt. Cap.(AED mln)

SHARJAH GROUP CO 1.35 -10.00% -10.00% 107

NATIONAL BANK OF FUJAIRAH PJSC 2.99 -9.94% -32.76% 4,086

UMM AL QAIWAIN GENERAL 1.18 -9.92% 31.11% 428

SHARJAH INSURANCE CO PSC 3.49 -9.35% -9.35% 480

AXA GREEN CRESCENT INSURANCE CO 0.60 -9.09% -14.29% 120

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(SAR mln)

NATIONAL PETROCHEMICAL CO SJSC 18.08 9.31% -14.92% 8,680

SAUDI VITRIFIED CLAY PIPE CO SJSC 50.70 8.33% -29.34% 761

GULF GENERAL COOPERATIVE 19.42 6.70% 21.00% 388

AL KHALEEJ TRAINING AND EDU 19.74 5.90% -0.30% 790

BASIC CHEMICAL INDUSTRIES CO SJSC 22.00 5.77% -15.06% 605

Top Losers Close

* WTD % YTD %

Mkt. Cap.(SAR mln)

AL ALAMIYA FOR COOPERATIVE 22.50 -13.13% -8.54% 900

UNITED COOPERATIVE ASSURANCE 12.50 -11.35% -4.21% 612

MEDITERRANEAN GULF COOPERATIVE 19.75 -11.04% -26.85% 1,975

GULF GENERAL COOPERATIVE INSUR 15.30 -8.38% -4.67% 306

AL RAJHI COMPANY FOR COOP 42.60 -7.99% 10.36% 1,704

Top Gainers Close (fils) *

WTD % YTD % Mkt. Cap.(KWD mln)

METAL AND RECYCLING CO KSCP 108.00 14.89% 80.00% 9

TAMDEEN INVESTMENT CO KSCP 350.00 14.75% 25.00% 121

REAL ESTATE ASSET MANAGEMENT 399.00 14.00% 103.57% 42

FIRST TAKAFUL INSURANCE CO KPSC 69.00 11.29% 40.82% 7

AL MUDON INTERNATIONAL REAL 39.00 9.86% 1.30% 4

Top Losers Close (fils) *

WTD % YTD % Mkt. Cap.(KWD mln)

NAFAIS HOLDING COMPANY KSCP 515.00 -19.86% -40.69% 52

REAL ESTATE ASSET MANAGEMENT 304.00 -18.93% 55.10% 32

AL-MOWASAT HEALTHCARE 400.00 -16.67% 60.00% 41

KUWAIT REMAL REAL ESTATE CO KPSC 69.00 -15.85% 2.99% 21

KAMCO INVESTMENT CO KSCP 68.00 -15.00% -29.90% 18

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(EGP mln)

ALEXANDRIA FLOUR MILLS BAKERIES 29.35 60.12% 445.01% 965

SUEZ CANAL BANK SAE 15.78 50.57% 232.21% 3,156

EGYPTIANS FOR INVESTMENT 2.66 38.54% 50.28% 106

EL NASR TRANSFORMERS 10.01 34.54% 81.67% 399

ABU DHABI ISLAMIC BANK EGYPT 14.95 28.99% 112.96% 2,990

Top Losers Close

* WTD % YTD %

Mkt. Cap.(EGP mln)

VODAFONE EGYPT TELECOM 54.00 -18.19% -23.42% 0

AL FANAR CONTRACTING CONST 1.01 -17.21% -23.48% 8

EGYPT FREE SHOPS CO SAE 4.51 -15.86% 8.41% 423

BELTONE FINANCIAL HOLDING SAE 11.68 -13.29% 4.29% 1,973

UPPER EGYPT FLOUR MILLS SAE 109.76 -12.34% 46.21% 768

Top Gainers Close

* WTD % YTD %

Mkt. Cap.(QAR mln)

MANNAI CORPORATION QPSC 71.15 10.46% -11.06% 3,246

GULF INTERNATIONAL SERVICES QSC 19.99 9.41% -35.72% 3,715

QATAR ISLAMIC BANK QPSC 95.50 8.28% -8.08% 22,405

WIDAM FOOD CO QSC 58.90 7.09% -13.38% 1,053

BARWA REAL ESTATE CO QSC 34.00 7.09% 2.26% 13,136

Top Losers Close

* WTD % YTD %

Mkt. Cap.(QAR mln)

AAMAL CO QPSC 8.61 -13.81% -36.83% 5,404

QATAR INSURANCE CO SAQ 52.34 -8.35% -29.02% 14,514

OOREDOO QSC 81.47 -6.36% -19.97% 26,000

GULF WAREHOUSING CO QPSC 42.71 -6.15% -23.73% 2,503

AL KHALEEJ TAKAFUL GROUP QPSC 14.11 -5.93% -33.13% 360

Weekly Investment Report

Sunday, October 01, 2017

6

Company Name Country Market Cap (USD mln)

Close * MTD % YTD % 52w High

* 52w Low

* P/E P/B

Dividend Yield

1 SAUDI BASIC INDUSTRIES CORPORATION SA 82,400 103.00 4.0% 12.6% 105.40 79.25 16.6 2.0 5.8%

2 EMIRATES TELECOMMUNICATIONS GROUP AE 40,967 17.30 -3.9% -8.0% 20.00 17.10 17.4 3.4 4.6%

3 SAUDI TELECOM COMPANY SJSC SA 37,760 70.80 -5.7% -2.3% 78.90 51.00 15.4 2.3 5.6%

4 QATAR NATIONAL BANK QPSC QA 30,373 122.00 -6.6% -17.6% 157.27 121.70 8.8 1.5 2.6%

5 FIRST ABU DHABI BANK PJSC AE 30,266 10.20 -1.9% 2.1% 11.55 8.30 12.7 1.1 4.4%

6 AL RAJHI BANKING & INVESTMENT CORP SA 28,643 66.10 -0.8% 4.9% 71.70 48.60 12.7 2.0 0.0%

7 NATIONAL COMMERCIAL BANK SJSC SA 27,413 51.40 -1.9% 20.7% 58.00 32.00 11.0 1.7 3.1%

8 SAUDI ELECTRICITY COMPANY SJSC SA 26,600 23.94 1.3% 6.9% 26.05 14.30 10.8 1.4 2.9%

9 DP WORLD LTD AE 18,642 22.46 -2.1% 28.3% 23.85 15.53 18.2 1.9 1.7%

10 JABAL OMAR DEVELOPMENT CO SJSC SA 16,680 67.30 -1.0% -10.0% 76.00 46.00 71.9 6.1 0.0%

11 EMAAR PROPERTIES PJSC AE 16,551 8.49 -0.1% 19.1% 8.95 6.37 10.9 1.4 1.8%

12 SAUDI ARABIAN MINING CO SJSC SA 16,296 52.30 3.6% 34.1% 54.00 28.60 238.9 2.4 0.0%

13 ALMARAI CO SJSC SA 15,211 71.30 -12.9% 4.1% 98.30 51.50 27.7 4.2 1.3%

14 INDUSTRIES QATAR QSC QA 14,952 91.69 0.8% -22.0% 122.00 85.00 21.4 1.7 4.4%

15 NATIONAL BANK OF KUWAIT SAKP KW 14,921 761.00 2.7% 22.9% 800.00 533.33 15.0 1.4 3.8%

16 SAMBA FINANCIAL GROUP SJSC SA 12,800 24.00 -1.2% -1.4% 27.10 15.90 9.7 1.1 4.0%

17 EMIRATES NBD BANK PJSC AE 12,682 8.38 -1.4% -1.3% 9.00 7.60 6.8 0.8 4.8%

18 EMIRATES ISLAMIC BANK PJSC AE 11,726 7.93 32.2% 0.0% 11.95 1.57 124.0 6.1 0.0%

19 KUWAIT FINANCE HOUSE KSCP KW 11,482 601.00 1.7% 22.4% 650.00 418.18 17.9 1.9 2.6%

20 SAUDI BRITISH BANK SJSC SA 10,840 27.10 4.6% 8.4% 28.55 16.40 10.8 1.2 2.6%

21 KINGDOM HOLDING CO SA 10,376 10.50 2.1% -12.1% 12.95 9.80 68.8 1.3 4.8%

22 ABU DHABI COMMERCIAL BANK PJSC AE 10,049 7.10 -2.7% 2.9% 7.68 5.66 9.3 1.2 5.6%

23 BANQUE SAUDI FRANSI SJSC SA 9,707 30.20 -2.9% 15.7% 33.40 18.00 10.4 1.2 3.5%

24 RIYAD BANK SJSC SA 9,424 11.78 5.2% 2.0% 12.06 8.55 12.1 1.0 5.5%

25 YANBU NATIONAL PETROCHEMICALS CO SA 8,895 59.30 5.1% 9.8% 61.75 41.10 15.4 2.2 5.1%

26 EMAAR MALLS GROUP PJSC AE 8,257 2.33 -5.3% -11.1% 2.80 2.32 15.9 1.8 4.3%

27 DUBAI ISLAMIC BANK PJSC AE 8,141 6.05 -0.7% 8.6% 6.29 5.01 9.5 1.2 7.4%

28 EZDAN HOLDING GROUP QSC QA 7,507 10.50 -6.6% -30.5% 17.46 10.50 13.7 0.9 4.8%

29 MASRAF AL RAYAN QPSC QA 7,504 37.12 -2.7% -1.3% 45.40 33.05 13.6 2.3 5.4%

30 MOBILE TELECOMMUNICATIONS CO KW 7,341 512.00 2.6% 24.9% 545.00 330.00 12.7 1.7 6.8%

31 OOREDOO QSC QA 7,149 82.80 -5.5% -18.7% 116.10 80.00 14.5 1.2 4.2%

32 ALINMA BANK SJSC SA 6,992 17.48 3.4% 0.0% 18.46 10.85 16.2 1.3 0.0%

33 SAUDI ARABIA FERTILIZERS CO SJSC SA 6,811 61.30 0.2% -18.3% 82.00 59.00 23.6 3.7 4.1%

34 EMIRATES INTEGRATED TELECOM AE 6,659 5.35 -4.8% -13.7% 6.54 5.20 14.8 3.1 6.4%

35 SAVOLA GROUP COMPANY SJSC SA 6,479 45.50 -2.8% 13.5% 51.00 27.80 0.0 2.9 0.0%

Data and News Source: Thomson Reuters

Top 50 MENA Stocks by Market Capitalization (* indicates native currency; Latest data)

Weekly Investment Report

Sunday, October 01, 2017

7

Company Name Country Market Cap (USD mln)

Close * MTD % YTD % 52w High

* 52w Low

* P/E P/B

Dividend Yield

36 ARAB NATIONAL BANK SA 6,411 24.04 -1.4% 8.5% 25.50 14.25 8.3 1.0 3.7%

37 DAMAC PROPERTIES DUBAI CO PSC AE 6,260 3.80 -5.9% 50.2% 4.57 1.91 6.9 1.8 6.6%

38 QATAR ISLAMIC BANK QPSC QA 5,803 91.11 -2.0% -12.3% 110.50 86.90 0.0 1.2 0.0%

39 COMMERCIAL INTERNATIONAL BANK EG 5,378 81.62 -3.1% 11.7% 88.80 47.75 16.7 3.9 0.6%

40 AHLI UNITED BANK BSC BA 5,328 0.71 -2.8% 21.2% 0.79 0.57 9.7 1.3 5.8%

41 QATAR ELECTRICITY AND WATER CO QSC QA 5,183 174.80 -6.0% -23.0% 247.90 174.80 12.3 2.4 4.3%

42 ALDAR PROPERTIES PJSC AE 4,988 2.33 0.9% -11.4% 2.78 2.10 6.7 0.8 4.7%

43 MESAIEED PETROCHEMICAL HOLDING CO QA 4,409 13.02 0.9% -17.6% 17.70 12.00 16.8 1.2 0.0%

44 AGILITY PUBLIC WAREHOUSING CO KSCP KW 3,918 887.00 1.4% 57.4% 984.00 418.18 18.8 1.2 1.4%

45 QATAR INSURANCE CO SAQ QA 3,912 52.34 -20.7% -29.0% 77.39 52.34 15.0 1.5 2.5%

46 MAKKAH CONSTRUCTION AND DEV SA 3,775 85.90 -5.7% -5.1% 123.50 81.50 0.0 1.7 2.9%

47 ALAWWAL BANK SA 3,768 12.36 -1.4% -11.4% 14.20 8.25 21.4 1.1 0.0%

48 JARIR MARKETING CO SJSC SA 3,696 154.00 2.7% 33.0% 158.80 81.00 17.2 9.4 4.7%

49 SAUDI KAYAN PETROCHEMICAL CO SJSC SA 3,616 9.04 6.5% 2.1% 9.85 5.10 17.9 1.0 0.0%

50 MASHREQBANK PSC AE 3,577 74.00 0.0% 19.4% 100.05 59.95 6.7 0.7 5.4%

Total MCap; Weighted Avg Div Yield 668,517 3.6%

Data and News Source: Thomson Reuters

Top 50 MENA Stocks by Market Capitalization — Continued (* indicates native currency; Latest data)

Weekly Investment Report

Sunday, October 01, 2017

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