Amman Stock Exchange Daily Report - 17 December

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1. Amman Stock Exchange 17-Dec-17 AMMAN SE GENERAL INDEX Close % Change Year-to-Date (YTD) Daily Volume (shares) Daily Turnover (JOD) 2,139.89 -0.34% -1.40% 2,505,044 6,050,154 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 Performing Companies ARAB ALUMINIUM INDUSTRY JORDAN MASAKEN FOR LAND & IN UNION LAND DEVELOPMENT CORP ALIA THE ROYAL JORDANIAN AIR SPECIALIZED INVESTMENT COMPO Worst Performing Companies % Change 7.33 4.73 4.72 4.55 3.85 Top Traded Companies by Value (JOD) SINIORA FOOD INDUSTRIES CO JORDAN STEEL ARAB BANK PLC UNION LAND DEVELOPMENT CORP UNION INVESTMENT CORP * Source: Bloomberg 14,316,090 973,561 953,109 937,954 458,481 AD-DULAYL INDUSTRIAL PARK CO UNION TOBACCO & CIGARETTE AL EQBAL CO FOR INVESTMENT P EL-ZAY READY WEAR MANUF CO BARTER CO FOR INVESTMENT & T % Change (2.50) (2.75) (2.82) (3.85) (5.00) Top Traded Companies by Volume (Shares) SINIORA FOOD INDUSTRIES CO JORDAN STEEL UNION LAND DEVELOPMENT CORP UNION INVESTMENT CORP ALIA THE ROYAL JORDANIAN AIR 5,680,816 1,681,787 426,676 386,945 348,847
2. Macroeconomic & Corporate News Gov’t wins case against Umniah The government on Thursday won a case at the International Centre for Settlement of Investment Disputes worth JD123 million, the Jordan News Agency, Petra, reported on Friday.The international arbitration case was filed by Fouad Alghanim & Sons Group and Fouad Alghanim against Jordan in accordance with the provisions of the Jordanian-Kuwaiti agreement to encourage and protect mutual investments. Fouad Alghanim group demanded issuing a decision to cancel the income tax that had been imposed on the profits achieved by Umniah Telecommunication and Technology after selling its shares in the capital of Umniah Mobile Phones in mid-2006. The company’s dues reached JD47 million as income taxes, JD10 million as additional tax and annual fines worth 18 per cent of the taxes’ value. Imported goods major hurdle for national industries’ Amman Chamber of Industry (ACI) President Senator Ziad Homsi said that around 61 per cent of Jordan’s imports are exempted from custom duties under trade agreements in which some commodities negatively affect the national industries, the Jordan News Agency, Petra, reported on Friday.During a press conference organised by the “Made in Jordan” campaign, Homsi said that national industries are “suffering from imported goods flooding the local market”. Homsi added that national industries should be protected and called for enacting legislation that enhances their competition in the local market. National products are the “lifeboat” and “safety valve” of the economy as they create jobs and support foreign currency reserves.Homsi said that the national industries have increased their exports from $1 billion in 1998 to $7 billion last year and their products have reached more than 125 countries despite the regional conditions imposed on the industrial sector along with domestic challenges. Jordan keen on improving rankings on business indicators State Minister for Investment Affairs Mohannad Shehadeh on Saturday said that Jordan has advanced on various business indicators, the Jordan News Agency, Petra, reported.The Kingdom has advanced from 118th to 103rd on the Doing Business Index, 56th to 49th on the Global Entrepreneurship Index, and from 70th to 58th on Global Talent Competitiveness Index, according to Petra.During a panel discussion on business and investment in Jordan, Shehadeh said that the Jordan Investment Commission continuously works to improve the Kingdom’s rankings on these indicators as they enhance investor confidence. Shehadeh noted that the government has drafted an executive action plan to improve the business environment. * 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.