MENA-1

WEDNESDAY MORNING ROUND-UP

UAE

UAE non-oil trade up 14% Y-o-Y in 2010 UAE PMI falls to three-month low of 55.2 in June 2011 Aldar ready to pre-lease Trust Tower

Kuwait

Kuwait Projects considering bond issue Agility wins contract to provide services for gas exhibition in London

Qatar

QP seeks syndicated financing for Barzan project

Agenda

UAE Wed 6 July >> Dana Gas BOD meeting Qatar Wed 6 July >> Qatar National Bank 2Q2011 results Sun 10 July >> The National Leasing Holding Company 2Q2011 results Thu 14 July >> Vodafone Qatar (VFQ) 2Q2011 results Mon 18 July >> Ahli Bank 2Q2011 results Tue 19 July >> Nakilat 2Q2011 results Tue 19 July >> Doha Bank 2Q2011 results Wed 20 July >> Qatar Islamic Bank (QIB) 2Q2011 results Thu 21 July >> Gulf Warehousing 2Q2011 results Thu 21 July >> UDC 2Q2011 results Sun 24 July >> Ahli Bank press conference Mon 25 July >> Nakilat press conference Thu 28 July >> Qatar National Bank 1H2011 press conference Mon 1 August >> The National Leasing Holding Company 1H2011 press conference Tue 2 August >> Masraf Al Rayan 2Q2011 results Tue 9 August >> Masraf Al Rayan press conference Sun 14 August >> Qtel 2Q2011 results

UAE News

UAE non-oil trade up 14% Y-o-Y in 2010 The UAEs non-oil foreign trade recorded a 14% increase Y-o-Y, reaching AED754.4 billion, up from AED660.4 billion in 2009, a report by the Ministry of Foreign Trade (MoFT) said on 5 July 2011. Exports grew by 27% in 2010 to AED83.1 billion, the report said. (Khaleej Times) UAE PMI falls to three-month low of 55.2 in June 2011 The UAEs Purchasing Managers Index (PMI) fell to 55.2 in June 2011 from 56 in May 2011. Firms kept hiring, but the rate of increase moderated to a seven-month low, as the employment index eased to 51.3 in June from 52.1 in May. The new orders index rose to 61.5 in June, up from 61.4 in May. The poll showed that price pressures eased in June, with a lower reading for the input price index and staff costs. (Reuters) Aldar ready to pre-lease Trust Tower

Aldar Properties (ALDR.AD) announced that it has made available pre-leasing options on its commercial tower, Trust Tower, within its Central Market development. The building offers 59 levels comprising 72,000 square metres of grade A office space. (Company Disclosure) Aldar: AED1.30, Rating: Buy, FV: AED1.84, MCap: USD1,021 million, ALDAR UH / ALDR.AD

Kuwait News

Kuwait Projects considering bond issue Kuwait Projects (KIPCO) [KPRO.KW] is considering a local currency bond worth up to USD290 million with a maturity of 3-7 years. KIPCO has mandated National Bank of Kuwait (NBK) [NBK.KW] and KIPCO Asset Management for the bond issue. KIPCO stated in April that it has total repayments of USD634 million in 2011. (Reuters) National Bank of Kuwait: KWD1.14, Rating: Buy, FV: KWD1.33, MCap: USD13,810 million, NBK KK / NBKK.KW Agility wins contract to provide services for gas exhibition in London Agility (AGLTY.KW) has won a contract to manage freight on-site handling services for Gastech 2012. Gastech 2012 is a natural gas exhibition, which will be held in London in October 2012. Agility did not state the value of the contract. (Bloomberg)

Qatar News

QP seeks syndicated financing for Barzan project Qatar Petroleum (QP) plans to seek syndicated loans for the USD8.6 billion Barzan natural gas project in the first half of July, according to sources involved in the issue. QPs Head of Project Financing Meshaal al-Mahmoud had initially expected to raise USD5 billion from bonds and loans by May. Sources added that the loan syndication will be followed by a bond offering. Barzans two production plants are expected to produce 1.4 billion cubic feet of natural gas per day for domestic use. The project is expected to be completed in 2015. (Bloomberg)
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