Amman Stock Exchange Daily Report - 12 February

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1. Amman Stock Exchange 12-Feb-17 Close AMMAN SE GENERAL INDEX 2 ,176.80 % Change Year-to-Date (YTD) -0.05% 0.30% Daily Volume (shares) 2,099,951 6 MONTHS INDEX PERFORMANCE 2,200 2,180 2,160 2,140 2,120 2,100 2,080 2,060 2,040 2,020 Best/Worst Performing Companies Best Performers ARAB INTERNATIONAL HOTELS JORDAN PHOSPHATE MINES JORDAN DUTY FREE SHOP ARAB BANKING CORP/JORDAN NATIONAL CABLE & WIRE MANUF % Change 7.50 6.36 5.68 3.08 3.03 Top Traded Companies by Value JORDAN PETROLEUM REFINERY CO ARAB BANK PLC JORDAN ISLAMIC BANK JORDAN PHOSPHATE MINES BANK OF JORDAN * Source: Bloomberg Worst Performers INDUSTRIAL COMMERCIAL & AGRI JORDAN COMMERCIAL BANK REAL ESTATE DEVELOPMENT SPECIALIZED INVESTMENT COMPO UNIVERSAL MODERN INDUSTRIES % Change (2.70) (2.94) (4.17) (4.42) (6.96) Top Traded Companies by Volume Value traded (JOD) 458,190.10 453,057.60 299,043.50 242,270.00 202,119.00 Volume traded (Shares) AD-DULAYL INDUSTRIAL PARK CO 190,201 JORDAN PETROLEUM REFINERY CO 140,283 JORDAN PHOSPHATE MINES 131,779 JORDAN AHLI BANK 122,411 AL-TAJAMOUAT FOR CATERING HS 110,040
2. Macroeconomic & Corporate News Price, fee hikes go into effect as of Sunday Several administrative, social and economic reform measures endorsed by the government recently went into effect on Sunday after they were published in the Official Gazette. The decisions include a by-law amending the by-law of customs service allowances on imported commodities that used to be exempted from customs fees, a by-law amending fees of issuing work permits for non-Jordanian workers, and a by-law amending the by-law of the special tax, the Jordan News Agency, Petra, reported. The measures came as the government seeks to secure JD450 million, as part of a plan to narrow the budget deficit, within the context of understandings with the International Monetary Fund. Other decisions that went into effect include amending customs fees, raising the minimum wage limit for Jordanians from JD190 to JD220. The bylaw amending the by-law of customs service allowances on imported commodities stipulates adding 5 per cent to the duties on imported commodities, provided that the total value is no less than JD100 and no more than JD10,000. Goods whose value is less than JD1,000 and are imported by individuals who do not have an importer card are excluded from the raise. As for work permits for non-Jordanian workers, the amended regulation sets JD400 as fees for issuing work permits or renewing them for one year or any period of a year. Changes to the special tax regulations include adding a special tax on each cigarette pack that contains 20 cigarettes, with a value that ranges between JD0.05 and JD0.10. Telecom tax hikes a step backwards on road to becoming ICT hub, telcos say The recent tax hikes on the telecom sector will increase the burden on the “heavily taxed sector”; instead, it is vital to revamp the whole legislation and the taxation system governing it, according to telecom providers. The newly introduced taxes represent an impediment to the advancement of the sector’s investments, and are likely to affect Internet penetration in Jordan, which is working towards becoming an ICT hub in the region, they added. EU-funded project to connect applied research to business needs concludes The second phase of a long-term EU-funded project to support applied research in Jordan and involve the private sector in identifying research needs concluded this week with an event showcasing its achievements, according to the organisers. Monday marks the last day of a three-day event celebrating the conclusion of the second phase of the Support to Research, Technological Development and Innovation (SRTD II) in Jordan project. The initiative, implemented by the Higher Council for Science and Technology (HCST), has awarded 62 grants for applied research and commercialisation in “four key sectors”: water, energy, food and health, according to a statement released by the SRTD II team. The project also worked to promote the integration of Jordan into the “European Research Area” through the Horizon 2020 programme, the statement said. * 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.