Amman Stock Exchange Daily Report - 19 October

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1. Amman Stock Exchange 19-Oct-17 Close AMMAN SE GENERAL INDEX 2 ,102.88 % Change Year-to-Date (YTD) 0.33% -3.11% Daily Volume (shares) 3,306,331 6 MONTHS INDEX PERFORMANCE 2,220 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 UNITED CABLE INDUSTRIES CO SPECIALIZED INVESTMENT COMPO JORDAN DECAPOLIS PROPERTIES ARAB EAST FOR REAL ESTATE IN % Change 5.98 4.55 4.44 4.26 4.03 Top Traded Companies by Value SPECIALIZED INVESTMENT COMPO ARAB BANK PLC RUM TOURIST TRANSPORTATION C READY MIX CONCRETE & CONSTR UNITED CABLE INDUSTRIES CO * Source: Bloomberg Worst Performers MASAFAT FOR SPECIALIZED TRAN ALIA THE ROYAL JORDANIAN AIR FUTURE ARAB INVESTMENT CO UNION LAND DEVELOPMENT CORP ARABIAN STEEL PIPES % Change (2.04) (2.27) (2.44) (2.72) (4.80) Top Traded Companies by Volume Value traded (JOD) 343,939 289,305 233,077 209,217 182,667 181,014 UNITED CABLE INDUSTRIES CO ISRAA ISLAMIC FINANCIAL SPECIALIZED INVESTMENT COMPO RUM TOURIST TRANSPORTATION C READYEAST MIX INVESTMENT CONCRETE & CONSTR ARAB UNION INVESTMENT CORP Volume traded (Shares) 407,570 402,250 374,027 274,039 193,375
2. Macroeconomic & Corporate News S&P downgrades Jordan rating, keeps outlook stable International credit rating agency Standard and Poor’s (S&P) has downgraded Jordan’s rating to B+, from BB-, citing poor performance on external debt, among other factors. According to a report S&P posted on its website late Friday, Jordan’s external vulnerabilities have increased and the structure of the public debt stock has weakened and will remain high, while the pace of fiscal reforms “will likely be slower than we had previously anticipated due to the weak macroeconomic environment and social pressures”.“We are therefore lowering our long-term foreign and local currency sovereign credit ratings on Jordan to ‘B+’ from ‘BB-’. We are affirming the short-term rating at ‘B’,” the report read.“The downgrade reflects our view of Jordan’s weakening debt profile amid low growth and implementation pressures related to fiscal reforms, and higher external risks,” the statement explained. European Commission approves100m-euro loan to Jordan The European Commission (EC), on behalf of the European Union (EU), on Tuesday approved the disbursement of a 100-million-euro loan to Jordan under its Macro-Financial Assistance (MFA) programme, according to the commission’s website Europa.eu.This disbursement marks the launch of the second MFA programme for Jordan with a total worth of 200 million euros, which follows a first package of 180 million euros approved in 2013 and fully disbursed in 2015. The disbursement of the second 100 million instalment is expected to take place during the course of 2018, depending on Jordan fulfilling agreed commitments, the commission’s statement said.Pierre Moscovici, commissioner for economic and financial affairs, taxation and customs, was quoted as saying: “Today’s decision to disburse 100 million euros to Jordan under a new MFA programme demonstrates the EU’s continued support for the country in these challenging times.” Aqaba seeks to attract $10 billion worth of investments Aqaba officials have said that they have a plan in place to attract $10 billion worth of investment to the zone by 2025, to be added to the JD20 billion lured since the inception of the special economic zone in 2011.Chief Commissioner of the Aqaba Special Economic Zone Authority Nasser Shraideh added in remarks Saturday that the investments would create 30,000 jobs, as foreseen by a recently launched strategy, the Jordan News Agency, Petra, reported. He was speaking during the opening session of a conference titled “Aqaba, Gateway to the Levant and Beyond” in Aqaba, where he acted as patron.Elaborating on the strategy, Shraideh said that Aqaba is expected to host five logistics hubs, rising from the current two, while the number of tourists is envisioned to increase from 600,000 this year to 1.5 million in 2025. The number of hotel rooms is also expected to increase from 4,650 to 12,000, while the city’s port is planned to have acapacity to handle two million containers, instead of 875,000 currently. * 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.