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72 Riyadh, Saudi Arabia. United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA license. EFTA
Bloomberg BABA US Exchange Ticker NYS BABA Price at 6 May 2015 (USD) Price target - 12mth (USD) 52-week range (USD) NASDAQ 100 March Q beat; Mobile crosses the median March quarter beat on higher take rate and ad rev Highlights of the Alibaba March quarter ranged from continued strength in mo
sions or differentiated royalty rates. STC the likely beneficiary of FTTH expansion Whilst we argue that STC could lose further market share in the Mobile market as a result of regulatory moves, we believe the negative impact will be offset by growing revenues from FTTH, IPTV and the corporate market. I
Page: HOUSE_OVERSIGHT_016160 →Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Lynch International (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.A.S.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (
Page: HOUSE_OVERSIGHT_016194 →Earnings Preview
hise value (we estimate Poker/Slots generates over $250mn+ in revenue annually}. Our $2.70 PO is based on 11x 2018E EBITDA (which is a premium to the Mobile gaming peer group due to margin expansion potential}, plus $1.41/share in cash and assets (building). Bankof America Merrill Lynch Internet/e-Comme
Page: HOUSE_OVERSIGHT_014939 →rities, Moscow, regulated by the Central Bank of the Russian Federation; Merrill Lynch DIFC}: Merrill Lynch International (DIFC Branch}, regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.AS.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (Brazil}
Page: HOUSE_OVERSIGHT_014949 →Entities connected to both the Dubai Financial Services Authority and Mobile

Jeffrey Epstein
PERSON
Joe Biden
PERSON
George W. Bush
PERSON
Ghislaine Maxwell
PERSON
Marc Rich
PERSON
Donald Trump
PERSON
Bloomberg L.P.
ORGANIZATION
United States
LOCATIONDeutsche Bank Securities Inc.
ORGANIZATION
Condoleezza Rice
PERSON
Bill Clinton
PERSON
Barack Obama
PERSON
Alan Dershowitz
PERSON
Wilbur Ross
PERSON
Paul Ryan
PERSON
Richard Kahn
PERSON
Atlanta
LOCATION
Malaysia
LOCATION
Houston
LOCATION
John F. Kennedy
PERSON