Amman Stock Exchange Daily Report - 26 February

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1. Amman Stock Exchange 26-Feb-20 AMMAN SE GENERAL INDEX 1 ,910 Close % Change Year-to-Date (YTD) 1,836.55 -0.31% 1.18% Daily Volume (shares) 7,996,257 Daily Turnover (JOD) 9,795,922 6 MONTHS INDEX PERFORMANCE 1,890 1,870 1,850 1,830 1,810 1,790 1,770 1,750 Best Performing Companies READY MIX CONCRETE & CONSTR AL-AMIN FOR INVESTMENT COMPREHENSIVE MULTIPLE TRANS ARABIAN STEEL PIPES SINIORA FOOD INDUSTRIES CO Worst Performing Companies % Change 5.88 4.93 4.48 4.29 4.20 Top Traded Companies by Volume (Shares) BARTER CO FOR INVESTMENT & T UNION INVESTMENT CORP SPECIALIZED INVESTMENT COMPO UNION TOBACCO & CIGARETTE SABA'EK INVESTMENT * Source: Bloomberg 863,604 426,412 365,230 345,904 311,877 SURA DEVELOPMENT AND INVESTM SABA'EK INVESTMENT RUMM FINANCIAL BROKERAGE FIRST FINANCE CORP NATIONAL CABLE & WIRE MANUF % Change (4.17) (4.76) (4.84) (4.92) (6.67) Top Traded Companies by Value (JOD) ARAB BANK PLC SPECIALIZED INVESTMENT COMPO UNION INVESTMENT CORP UNION TOBACCO & CIGARETTE ARAB ELECTRICAL INDUSTRIES 3,671,217 593,132 503,161 487,634 308,033
2. Macroeconomic & Corporate News Jordan trade balance deficit decreased by 12.2% in 2019 Jordan’s trade balance deficit decreased to JD7,826 billion in 2019, or by 12.2 per cent compared with 2018, driven by the increase in national exports by 6.8 per cent, which reached nearly JD5 billion. According to a report from the Department of Statistics on foreign trade in Jordan, the value of total exports increased by 7.3 per cent to reach nearly JD5.9 billion in 2019, compared with the same period in 2018, the Jordan News Agency, Petra, reported. The value of re-exports amounted to JD910 million during 2019, marking an increase of 9.9 per cent for the same period in 2018. The import value amounted to JD13.7 billion in 2019, a decrease of 4.8 per cent, compared with 2018. Minimum wage to go up to JD260 at onset of 2021 The tripartite committee for work affairs on Monday decided to increase Jordan’s minimum wage to JD260 as of January 1, 2021. The decision was made to give the employers a chance to rearrange their financial affairs and list the needed allowances in their budgets to be able to implement the decision. During the meeting, the committee agreed that the new minimum pay will be subject to social security deductions as of the beginning of the next year, and will abide by the annual salary increase in minimum wages, adjusted to inflation, which will go into effect as of January 1, 2022. The committee also identified a fixed minimum wage-setting mechanism to determine annual adjustments, the Jordan News Agency, Petra, reported on Tuesday. A consensus was made on raising foreign workers’ minimum wages to JD230 as of January 1, 2021, while the pay gap between Jordanian and foreign workers will be narrowed by 50 per cent after the first year and 50 per cent after the second to maintain the competitiveness of Jordanian workers. * 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.