Amman Stock Exchange Daily Report - 25 March

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1. Amman Stock Exchange 25-Mar-18 AMMAN SE GENERAL INDEX 2 ,300 Close % Change 2,219.62 0.02% Year-to-Date (YTD) 4.37% Daily Volume (shares) 5,361,103 Daily Turnover (JOD) 7,306,860 6 MONTHS INDEX PERFORMANCE 2,250 2,200 2,150 2,100 2,050 2,000 1,950 Best Performing Companies UNITED CABLE INDUSTRIES CO AMAD INVESTMENT & REAL ESTAT ZARA INVESTMENTS INTL CO FOR MEDICAL INVEST AL-TAJAMOUAT FOR CATERING HS Worst Performing Companies % Change 4.55 4.49 4.00 3.23 2.78 Top Traded Companies by Volume (Shares) UNITED CABLE INDUSTRIES CO CENTURY INVESTMENT GROUP UNION INVESTMENT CORP SPECIALIZED INVESTMENT COMPO UNION LAND DEVELOPMENT CORP * Source: Bloomberg 790,126 593,470 419,270 344,982 285,553 UNITED FINANCIAL INVESTMENTS AL AMAL FINANCIAL INVESTMENT AKARY FOR INDUSTRIES AND REA UNION INVESTMENT CORP JORDANIAN -PHARMACEUTICAL MAN % Change (3.33) (3.45) (3.58) (4.72) (5.00) Top Traded Companies by Value (JOD) CENTURY INVESTMENT GROUP AKARY FOR INDUSTRIES AND REA UNION LAND DEVELOPMENT CORP ARAB BANK PLC UNION INVESTMENT CORP 1,330,014 715,568 622,196 516,093 514,237
2. Macroeconomic & Corporate News Standard & Poor’s keeps Jordan’s credit rating unchanged Standard & Poor’s (S&P) has affirmed its B+/B credit rating to Jordan, the Jordan News Agency, Petra, reported on Saturday. S&P said that Jordan’s outlook remains stable, according to Reuters. The New York-based organisation expected Jordan’s debt position to broadly stabilise, supported by bilateral and multilateral grants and phased implementation of fiscal reforms. The agency also expected donors to continue to support Jordan amid the ongoing conflict in Syria and fiscal pressures resulting from refugee inflows. Nonetheless, S&P expected some decrease in donor support for Jordan, particularly budget support over the coming years, Reuters added. The rating was based on the government’s ability, according to the report, to maintain the debt rate in 2017 when compared to the rate registered in 2016, in addition to the adoption of fiscal reforms in 2018 within the General Budget Law, Petra reported. Finance Minister Omar Malhas stressed that the Kingdom’s efforts in attracting investments and assistance, including the aid agreement that was recently signed with the US, contributed to reaffirming Jordan’s rating as stable. This positive rating is attributed to several factors including the government’s ability to contain financial deficits and maintain a stable debt rate at 95.1 per cent, despite the low economic growth. Credit ratings may play a useful role in enabling corporations and governments to raise money in the capital markets. Instead of taking a loan from a bank, these entities sometimes borrow money directly from investors by issuing bonds or notes, according to S&P website. ‘26 ICT firms with JD33m capital register at JIC’ Twenty-six ICT companies registered at the Jordan Investment Commission (JIC) in the first two months of 2018, with a total investment volume of JD33 million, JIC announced on Saturday. The commission noted that the average time needed for the companies to register was “only” two working days, the Jordan News Agency, Petra, reported, citing a JIC statement. The ICT sector greatly contributes to the gross domestic product of the Kingdom which is home to more than 600 ICT firms that generated 16,793 jobs nationwide, according to JIC. * Source: Bloomberg, Jordan Times, Zawya Disclaimer Awraq Investments and its affiliates obtain information from sources they believe to be reliable, but do not warrant its accuracy or fitness for a particular purpose, and disclaim for themselves and their information providers all liability arising from the use. The Information in this publication is provided in good faith for informational purposes only. The information provided is not offered as tax, legal, or investment advice, or an offer to buy or sell securities or otherwise. The information provided in this publication may be displayed and printed for your personal, non-commercial use only. You may not reproduce, re-transmit, distribute, disseminate, sell, publish, broadcast, or circulate the information in any form or media to anyone, without the expressed written consent of Awraq Investments. Awraq Investments is not liable for any loss resulting from any action taken or reliance made by any person on any information or material posted by it. You should make your own inquiries and seek independent advice from relevant industry professionals before acting or relying on any information or material made available to you in this publication. You rely on this information at your own risk. Awraq Investments, its subsidiaries, parent, and/or any connected parties, may act or trade and/or enter into any transaction that maybe inconsistent or disregard any information contained herein.