pproved by the Qatar Financial Markets Authority, the Qatar Financial Centre Regulatory Autho| or Qatar Central Bank and may not be ublicly dis

sional Client. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (QFC Branch), regulated by the Qatar Financial Centre Regulatory Authority (the QFCRA), and is directed at business customers and market counterparties only and is not intended for Retail Customers as defined by the QFCRA.