Amman Stock Exchange Daily Report - 13 May
- Amman Stock Exchange 13-May-18 AMMAN SE GENERAL INDEX 2 ,300 Close % Change 2,135.07 -0.12% Year-to-Date (YTD) 0.39% Daily Volume (shares) 3,226,038 Daily Turnover (JOD) 2,605,246 6 MONTHS INDEX PERFORMANCE 2,250 2,200 2,150 2,100 2,050 2,000 1,950 Best Performing Companies ARAB FINANCIAL INVEST CO TUHAMA FOR FINANCIAL INVESTM NUTRI DAR AD-DULAYL INDUSTRIAL PARK CO JORDAN AHLI BANK Worst Performing Companies % Change 6.34 4.29 3.57 2.63 2.52 Top Traded Companies by Volume (Shares) SURA DEVELOPMENT AND INVESTM PROFESSIONAL FOR REAL ESTAT SPECIALIZED INVESTMENT COMPO INTERMEDIATE PETROCHEMICHALS UNION LAND DEVELOPMENT CORP * Source: Bloomberg UNION LAND DEVELOPMENT CORP SPECIALIZED INVESTMENT COMPO ZARKA EDUCATION & INVESTMENT REAL ESTATE & INVESTME/THE RUMM FINANCIAL BROKERAGE - % Change (3.02) (3.03) (3.41) (4.72) (4.85) Top Traded Companies by Value (JOD) 711,380 576,950 284,100 141,472 79,650 SURA DEVELOPMENT AND INVESTM SPECIALIZED INVESTMENT COMPO PROFESSIONAL FOR REAL ESTAT ARAB BANK PLC UNION LAND DEVELOPMENT CORP 348,084 278,131 214,089 211,578 156,393
- Macroeconomic & Corporate News EBRD offers $1 billion to finance infrastructure projects in Jordan Jordan and the European Bank for Reconstruction and Development (EBRD) on Thursday signed a 2.8 billion euros memorandum of understanding (MoU) that governs the bank's participation in Jordan’s infrastructure investment projects in several areas. Under the deal, signed in the presence of Prime Minister Hani Mulki, the EBRD confirms its interest in considering participation in Jordan’s infrastructure investment programme, which the country is developing to upgrade existing and develop new sustainable infrastructure. The 2.8 billion euros programme will cover multiple infrastructure sectors including energy, transport, water and wastewater, solid waste, education and other municipal services. The EBRD, as part of the deal, confirms its readiness to consider the provision of long-term financing and technical assistance for eligible projects and intends to support public-private partnership projects in order to stimulate private sector participation in the infrastructure sector. The bank will directly contribute 1 billion euros to finance these projects, while it will help lure investors to cover the remaining funding needs, Minister of Planning and International Cooperation Imad Fakhoury said during the signing ceremony on Thursday. “This MoU confirms the interest of the bank to consider participating in the Investment Programme through the potential provision of long-term financing and/or technical assistance funds to the eligible projects,” Fakhoury said. Jordan seeks economic integration with regional, global partners — PM Prime Minister Hani Mulki on Thursday said that Jordan is moving towards an economy that is open and integrated with regional and international economies, the Jordan News Agency, Petra, reported. The measures Jordan is taking aim to eventually enable the country to absorb the influx of young Jordanians into the labour market and face the challenges generated by regional crises. During a session on investment opportunities in Jordan at the European Bank for Reconstruction and Development’s (EBRD) 27th annual meeting and business forum held at the Dead Sea area, Mulki said that Jordan is becoming a hub for trade and investment in the Middle East and North Africa (MENA) region. Jordan has promising investment and trade opportunities that include establishing manufacturing facilities, international contracting and building logistic centres, Mulki continued. He added that the Kingdom can be an “ideal” platform for companies that seek to take part in reconstruction and infrastructure projects in war-torn regional countries. Cabinet to refer tax law to legislature next week The Cabinet is expected to endorse the 2018 draft income tax law and refer it to the Lower House on May 21, Finance Minister Omar Malhas said on Friday. In an interview with the Jordan Television’s 60 Minutes programme, Malhas said that the draft law focuses on addressing tax evasion, enhancing voluntary commitment of taxpayers, broadening the taxpayer base and improving the tax collection mechanism, the Jordan News Agency, Petra, reported. The bill is currently on the website of Legislation and Opinion Bureau, which is affiliated with the Prime Ministry, at www.lob.jo for people and specialists to access and give feedback on it. The Parliament is in recess now and is expected to reconvene after the holy month of Ramadan, which ends around mid-June, for an extraordinary session. * 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.