ECONOMIC NEWS Value Previous % GCC 21-Mar-2021 Closing Change Shares in Asia-Pacific mostly slipped in Tuesday trade, with Chinese search giant Baidu making its debut in . In , the Nikkei 225 edged fractionally MSM 3,731.85 3,733.77 -0.05% lower while the Topix index declined 0.23%. South Korea’s Kospi slipped 0.57%. Mainland Chinese stocks dipped as the Shanghai composite shed 1.19% while Dubai 2,551.96 2,583.73 -1.23% the Shenzhen component declined 1.408%. Hong Kong’s Hang Seng index also fell Abu Dhabi 5,733.44 5,723.10 0.18% 1.18%. Shares in was little changed, with the S&P/ASX 200 sitting below the flatline. Elsewhere, Singapore’s Straits Times index rose 0.25% while the Nifty 50 in India 9,547.42 9,498.85 0.51% gained 0.5% MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.44% 1,470.61 1,465.98 0.32% lower In corporate developments, Baidu’s stock began trading in Hong Kong on Tuesday, with shares rising about 0.24% by the afternoon from their issue price. The firm joins a 10,226.68 10,217.53 0.09% long list of U.S.-listed Chinese tech companies that have done secondary offerings in Hong 5,826.19 5,805.32 0.36% Kong, including Alibaba and JD.com. In Singapore, shares of Capitaland soared more than 12% following the firm’s Monday announcement of a restructuring plan. (CNBC) Egypt 10,537.22 10,802.29 -2.45%

3,427.12 3,437.50 -0.30% Oil steadied on Monday as hopes for a pick-up in demand later this year helped arrest last week’s broad sell-off, but prices stayed under pressure as new European coronavirus Value lockdowns made a quick recovery look less likely. Brent crude was up 6 cents or 0.1% to Asia % Change $64.59 a barrel, while U.S. oil for delivery in April gained 13 cents to settle at $61.55 per 22-Mar-2021 barrel. The more active U.S. crude futures for delivery in May rose 14 cents or 0.2% to NIKKEI 29,131.74 -0.15% $61.58 a barrel. (CNBC) Hang Seng 28,545.71 -1.18% Shanghai 3,402.56 -1.19% Oman's consumer prices fell 1.37% in February y/y, according to the Oman National Value USA % Change Centre for Statistics & Information. (Bloomberg) 19-Mar-2021

Dow Jones Ind. 32,731.20 0.32% Oman sold 152 million Rial of bills due Jun 23. Investors offered to buy 1.13 times the amount of securities sold. The bills were sold at a price of 99.802, have a yield of 0.797 S&P 500 Index 3,940.59 0.70% percent and will settle on Mar 24. (Bloomberg) NASDAQ 13,377.54 1.23%

Value Oman and Britain are partnering to power the Sultanate’s green goals by discovering EUROPE % Change common ground between UK’s industrial and energy strategy priorities and the Sultanate’s 19-Mar-2021 visionary sustainability plans. Among the lessons that the world learnt from the Covid-19 FTSE 100 6,726.10 0.26% pandemic is the need to build back better. This November, the UK will host an important DAX 14,657.21 0.25% climate change conference since the Paris Agreement was signed in 2015. To achieve the climate goals, there is a need to work hand-in-hand with partners around the world. Oman CAC 40 5,968.48 -0.49% is making great strides towards meeting its ambitious sustainable energy targets. The Sultanate is now ranked third among Arab countries in the 2020 UN Sustainable Value Currencies % Change Development Report, ranked ninth globally in the implementation of environmental laws 22-Mar-2021 and 22nd for sustainable development in the travel and sector. (Oman Observer) USD-JPY 108.7400 0.10%

USD-OMR 0.3850 -0.06%

EUR-USD 1.1923 -0.08%

GBP-USD 1.3834 -0.22%

Value Commodities % Change 22-Mar-2021 Oil 60.99 -0.93%

Gold 1,737.10 -0.19% Silver 25.64 -0.41%

Note: All the above data updated at 8:00 AM,

Muscat time (5:00am GMT)

This report has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. While all care has been taken to ensure that the facts stated herein are accurate and the estimates, opinions and expectations contained herein are fair and reasonable, neither United Securities LLC, nor any of its employees shall be, in any way, responsible for the contents. This shall not be construed as an offer to buy or sell the referred to in this report.

United Securities LLC, P.O. Box 2566, Postal Code – 112, Ruwi, Sultanate of Oman Tel: +968 24763300, Fax: +968 24788671, Website: http://www.usoman.com, Email: [email protected]

UAE DMSat-1, the emirate’s first nanometric environmental satellite, developed by Dubai Municipality in collaboration with the Mohammed Bin Rashid Space Centre, has reached its orbit 550 km above Earth, following its successful launch from the Baikonur Cosmodrome in Kazakhstan aboard the Soyuz 2.1a space rocket. The launch was supervised by a team of officials and engineers from MBRSC and Dubai Municipality. The first signal from DMSat-1 was received at MBRSC’s mission control centre at 4:42 PM on Monday, signaling that the satellite had reached its orbit and begun its scientific mission. (Zawya)

The royal business jet sent by Crown Prince Mohammed bin Zayed Al Nahyan of the was waiting on the tarmac at an airport in Jordan for instructions to proceed to Israel’s Ben Gurion International Airport. Together, Bin Zayed and Netanyahu were planning to unveil some $10 billion in joint infrastructure projects that would knit the Middle East together with a rail network running 1,100 miles from the Mediterranean coast to the . The UAE would finance construction of a deep-water port at the Israeli end of the Red Sea. A pipeline pumping oil between Israel’s Ashkelon and Eilat terminals would be connected to the Arabian Peninsula either by tanker or through a possible new 430-mile underwater pipeline through the Red Sea to Saudi Arabia’s Yanbu terminal. (Foreign Policy)

The economy of the United Arab Emirates will expand 2.4% in 2021 according to the latest results of a Bloomberg News survey of 11 economists conducted from March 12 to March 18. GDP 2022 +4% y/y vs prior +3.6%. CPI 2021 +0.6% y/y vs prior +0.5%. CPI 2022 +1.5% y/y vs prior +1.8%. (Bloomberg)

Optimism is now high in the UAE’s private sector, with three out of four small-time entrepreneurs saying they are optimistic about business recovery in 2021, according to a new study by Visa. The digital payments provider also found that the majority of UAE merchants (82 percent) believe that their investments in digital payments had paid off and will play a major role in recovering from the COVID-19 slump. Businesses across all industries have been impacted by the coronavirus pandemic, with those who don’t have an online presence being the most severely affected. (Zawya)

Saudi Arabia Saudi Arabia launched a wide-ranging initiative on Monday to bring peace to Yemen, deliver aid to its people and end the country’s six-year war. The plan calls for a nationwide cease-fire supervised by the UN, the reopening of Sanaa airport, and new talks to reach a political resolution to the conflict. Restrictions on the Red Sea port of Hodeidah would be eased, allowing access for ships and cargo. Income from the port, including , would go to the central in Hodeidah in accordance with the Stockholm agreement. (Arab News)

Saudi-led coalition warplanes have launched air strikes against military bases of Shiite Houthi rebels in Yemen’s capital Sana’a, hours after the Saudi ceasefire offer which the rebels appeared to reject. Residents and the rebel-run Al-Masirah TV said the planes hit targets in Al-Nahdeen military camp, Al-Dailami air base and other areas Residents said by phone the fighter jets continue to hover over Sana’a. The Saudi initiative said the ceasefire will come into effect after the rebels accept it. (Abc News)

The Saudi Arabian economy will expand 2.6% in 2021 according to the latest results of a Bloomberg News survey of 14 economists conducted from March 12 to March 18. GDP 2022 +3.5% y/y vs prior +3%. CPI 2021 +3% y/y vs prior +2.9%. CPI 2022 +2% y/y vs prior +1.9%. (Bloomberg)

Secretary Blinken reiterated our commitment to supporting the defense of Saudi Arabia and strongly condemned recent attacks against Saudi territory from Iranian-aligned groups in the region. The Secretary and the Foreign Minister discussed their close cooperation to support the efforts of UN Special Envoy Griffiths and U.S. Special Envoy Lenderking to end the conflict in Yemen, starting with the need for all parties to commit to a ceasefire and facilitate the delivery of humanitarian aid. Additionally, they discussed the importance of stabilizing the Yemeni economy. The Secretary underscored the importance of continued progress on human rights and expressed support for Saudi Arabia’s ongoing social and economic reforms. (News Break)

Kuwait Kuwait’s economy will expand 2.6% in 2021 according to the latest results of a Bloomberg News survey of 6 economists conducted from March 12 to March 18. GDP 2022 +3.9% y/y vs prior +3.4%. CPI 2021 +2.1% y/y vs prior +1.8%. CPI 2022 +2.3% y/y vs prior +2%. (Bloomberg)

Kuwait sold 200 million dinars of bills due Jun 22. Investors offered to buy 13.3 times the amount of securities sold. The bills have a yield of 1.125 percent and settled Mar 23. (Bloomberg)

Qatar Qatar’s economy will expand 3% in 2021 according to the latest results of a Bloomberg News survey of 7 economists conducted from March 12 to March 18. GDP 2022 +3.6% y/y vs prior +3.7%. CPI 2021 +0.5% y/y vs prior +1%. CPI 2022 +2% y/y vs prior +1.7%. (Bloomberg)

Mauritania has re-established diplomatic relations with Qatar, according to its foreign ministry, almost four years after breaking them off in the midst of a Saudi-led freeze on ties with Doha. Nouakchott had followed Riyadh and its allies in cutting ties and transport links with Qatar in June 2017, imposing a land, sea and air blockade on the Gulf country. (Al Jazeera)

Bahrain The will expand 3% in 2021 according to the latest results of a Bloomberg News survey of 7 economists conducted from March 12 to March 18. GDP 2022 +2.8% y/y vs prior +2.3%. CPI 2021 +1.1% y/y vs prior +1%. CPI 2022 +1.7% y/y vs prior +1.5%. (Bloomberg)

This report has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. While all care has been taken to ensure that the facts stated herein are accurate and the estimates, opinions and expectations contained herein are fair and reasonable, neither United Securities LLC, nor any of its employees shall be, in any way, responsible for the contents. This shall not be construed as an offer to buy or sell the investments referred to in this report.

United Securities LLC, P.O. Box 2566, Postal Code – 112, Ruwi, Sultanate of Oman Tel: +968 24763300, Fax: +968 24788671, Website: http://www.usoman.com, Email: [email protected]

CORPORATE NEWS . Oman Sohar Port and Freezone has signed a land development agreement with Moon & Steel Company SAOC centring on the construction of a 700- metre quay wall for an upcoming facility in the eastern area of the port, set to begin at the end of this year. The signing took place between Mark Geilenkirchen, CEO of Sohar Port and Sasikumar Moorkanat, Managing Director and CEO of MISCO. Commenting on the agreement, Geilenkirchen of Sohar Port, said, “In our journey towards becoming a key logistics hub in the region, we continue our endeavours to attract potential businesses to SOHAR. In line with our vision, we aim to utilize the available land as an extension of the current Steel and Logistics Cluster. We also seek to keep an eye out for industries that could further develop and strengthen the overall portfolio of services, provided by the Port. (Oman Observer)

Dhofar Fisheries & Food Industries Co SAOG says it plans to invest in a full-fledged fish processing factory at the Special Economic Zone in Duqm, anchored by a sardine cannery plant that will capitalize on the abundant sardine resources of the Sultanate. The publicly traded firm, which is listed on the Muscat Stock Exchange, said construction work on the project had commenced last year, with plant operations slated for launch by 2022. (Oman Observer)

The Authority for Public Services Regulation has authorized the Rural Areas Electricity Company (Tanweer) to go ahead with the linkage of its assets with the Dhofar network covering the south of the Sultanate. In a statement to ONA, the Authority said the decision stems from efforts to enable Tanweer to secure access to cost-competitive electricity generated through conventional or alternative means in line with government policy. The Authority directed all licensed companies to begin supporting the implementation of the linkage plan, which is expected to be predominantly complete before the end of this year. Additionally, the regulator called on licensed companies to retain employees or suitably redeploy those made redundant by the project. (Oman Observer)

In recognition of its prominent role in anti-fraud awareness, the General Secretariat of the Council of Arab Interior Ministers announced on the sidelines of the 44th Conference of Arab Police and Security Leaders 2021 that the Sultanate represented by Royal Oman Police has won the Award for the Best Awareness Film in Combating Cybercrimes. Bank Muscat congratulated the Royal Oman Police for the great achievement and said that the bank will continue to be a proud partner in this awareness campaign, which has been running since its launch in 2019. (Oman Observer)

Saudi Arabia Al-Etihad Cooperative Co. reported revenue of SAR 742 million in 2020 compared to revenue of SAR 862 million in 2019. Net profit of SAR 32 million in 2020 compared to net profit of SAR 48 million in 2019. (Tadawul)

Saudi Pharmaceutical Industries and medical appliances Corp. reported revenue of 1.5 billion in 2020 compared to revenue of SAR 1 billion in 2019. Net profit of SAR 110 million in 2020 compared to net loss of SAR 484 million in 2019. (Tadawul)

Saudi Printing and Packaging Co. reported revenue of 768 billion in 2020 compared to revenue of SAR 924 billion in 2019. Net loss of SAR 20.5 billion in 2020 compared to net loss of SAR 39 billion in 2019. (Tadawul)

Burj Cooperative Insurance Co. reported revenue of 202 million in 2020 compared to revenue of SAR 305 million in 2019. Net profit of SAR 6 million in 2020 compared to net profit of SAR 15 million in 2019. (Tadawul)

Gulf General Cooperative Insurance Co. reported revenue of 321 million in 2020 compared to revenue of SAR 280 million in 2019. Net profit of SAR 4 million in 2020 compared to net loss of SAR 1 million in 2019. (Tadawul)

Qatar Qatar Oman Company reported net profit of QR6.70 Million in 2020 compared to net profit of QR8.62 Million in 2019 The Earnings per share amounted to QR0.021 as of 31st December, 2020 versus Earnings per share QR0.027 for the same period in 2019. (Qatar Exchange)

Kuwait Kuwait’s Aviation Lease & Finance Co. has pared back its plans for plane purchases over the next three years as the travel industry struggles to recover from the pandemic-induced slump. Alafco, as the company is known, said it would reduce aircraft commitments over 2020-2023 through a combination of cancellations and deferrals to boost its liquidity position and save on costs. Countries around the world were forced to shutter airports last year to prevent the spread of the coronavirus. Alafco agreed with Airbus SE to defer aircraft delivery in August, citing the impact of the pandemic, and cut its orderbook with Boeing Co. after ending a legal claim. The leasing firm is now identifying further cost-saving measures, and has formed a committee to help review and negotiate rent deferrals or waiver requests. It’s also working to collect rent from delinquent lessees and restructure contracts. (Bloomberg)

Kipco reported 2020-year result net income 6.55 million dinars vs. loss 39.4 million dinars y/y. Operating revenue 752.6 million dinars, +7.8% y/y Operating profit 124.0 million dinars vs. 60.7 million dinars y/y. (Bloomberg)

This report has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. While all care has been taken to ensure that the facts stated herein are accurate and the estimates, opinions and expectations contained herein are fair and reasonable, neither United Securities LLC, nor any of its employees shall be, in any way, responsible for the contents. This shall not be construed as an offer to buy or sell the investments referred to in this report.

United Securities LLC, P.O. Box 2566, Postal Code – 112, Ruwi, Sultanate of Oman Tel: +968 24763300, Fax: +968 24788671, Website: http://www.usoman.com, Email: [email protected]