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Qatar shares gain across the board

The Doha-based QE Index added 0.41% to reach 8,745.14 points. Insurance firms in particular helped the index to recover territory from Sunday' regional slump. The country's largest lender by assets Qatar National Bank (QNB) closed unchanged at QR154.60. Earlier in the day QNB announced the following two resolutions, among others, of the Ordinary and Extraordinary General Assembly Meetings held on Sunday, January 31, 2011. Shareholders approved the proposal of the Board of Directors to distribute to shareholders a cash dividend at the rate of 50% of the nominal value of share capital, representing QR5 per share, and distribute bonus shares equivalent to 30% of the share capital. The assembly approved further the transfer of necessary funds to the legal reserve so that it would be equal to 100% of the capital.