Amman Stock Exchange Daily Report - 11 September

Transcription

1. Amman Stock Exchange 11-Sep-17 Close AMMAN SE GENERAL INDEX 2 ,156.37 % Change Year-to-Date (YTD) 0.52% -0.64% Daily Volume (shares) 3,727,274 6 MONTHS INDEX PERFORMANCE 2,300 2,250 2,200 2,150 2,100 2,050 2,000 Best/Worst Performing Companies Best Performers ISLAMIC INSURANCE CO JORDAN PHOSPHATE MINES LAFARGE JORDAN CEMENT AL-RAKAEZ INVESTMENT CO HIGH PERFORMANCE REAL ESTAT % Change 5.38 5.00 4.61 2.94 2.70 Top Traded Companies by Value JORDAN PHOSPHATE MINES AL EQBAL CO FOR INVESTMENT P JORDAN PETROLEUM REFINERY CO SPECIALIZED INVESTMENT COMPO RUM TOURIST TRANSPORTATION C * Source: Bloomberg Worst Performers COMPREHENSIVE LAND DEVELOPME SALAM INTL TRANSPORT & TRAD EL-ZAY READY WEAR MANUF CO ARABIAN AVIATION INVESTMENT JORDAN DECAPOLIS PROPERTIES % Change (3.03) (3.13) (3.23) (4.79) (5.00) Top Traded Companies by Volume Value traded (JOD) 885,731 446,405 315,676 296,082 279,997 JORDAN PHOSPHATE MINES SPECIALIZED INVESTMENT COMPO RUM TOURIST TRANSPORTATION C BARTER CO FOR INVESTMENT & T JORDAN STEEL Volume traded (Shares) 304,549 288,487 285,624 269,529 200,354
2. Macroeconomic & Corporate News PM reasserts new tax law will not affect middle class Prime Minister Hani Mulki on Monday said that reconsidering the Income Tax Law would not affect the exemptions given to vulnerable segments, the Jordan News Agency, Petra, reported. During a discussion panel organised by the Jordan Strategies Forum, Mulki said that the middle class will not be affected by amendments of the taxation system, which, he noted, have not been decided yet, and the government will study other measures to prevent tax evasion and improve collection efficiency. He noted that a comprehensive discussion of the law will be conducted, stressing that the law must include deterring penalties to prevent tax evasion. "The government's message to the International Monetary Fund [IMF] was that the law should be reconsidered without affecting the middle class and the segments that are exempted under the current law", said the premier, in reference to correspondence with the fund, which has set tax reforms as criteria of Jordan’s economic correction programme the IMF supervises. Mulki stressed the importance of addressing the tax imbalances and rationalising exemptions that are given to investors, noting the low revenues as a result of existing tax incentives. Jordan advances on travel index Jordan advanced two rankings on the World Economic Forum's Travel and Tourism Competitiveness Report 2017, having moved to the 75th rank, compared with the 77th in the previous report in 2015. Tourism Minister Lina Annab said that Jordan came the eighth out of 13 Arab countries included in the report, which surveyed 136 countries, the Jordan News Agency, Petra, reported. Annab attributed the advance to improvement in several main indicators, such as safety and security, ICT accessibility and development in many secondary indicators that included competitiveness of fuel prices, implementation of environmental laws and quality of airports' infrastructure. PM inaugurates JD7m water projects in badia Prime Minister Hani Mulki on Monday inaugurated several water projects in the badia expected to serve more than 45,000 citizens at a cost of JD7 million, the Jordan News Agency, Petra, reported. The projects were implemented as part of an International Committee of the Red Cross (ICRC) programme to help refugee host communities. During his visit, the fifth to the badia areas, in the presence of Water Minister Hazem Al-Naser and several senators and MPs of the badia, Mulki said that the visit aimed at checking on the ministry’s efforts in facing the increasing demand on water. * 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.