Amman Stock Exchange Daily Report - 2 November

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1. Amman Stock Exchange 2-Nov-17 Close AMMAN SE GENERAL INDEX 2 ,112.05 % Change Year-to-Date (YTD) 0.48% -2.68% Daily Volume (shares) 3,710,381 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 AL EQBAL CO FOR INVESTMENT P UNION INVESTMENT CORP UNION TOBACCO & CIGARETTE ZARA INVESTMENTS ARAB EAST FOR REAL ESTATE IN % Change 5.31 4.88 4.75 4.55 4.23 Top Traded Companies by Value UNION INVESTMENT CORP UNION TOBACCO & CIGARETTE ARAB BANK PLC AL EQBAL CO FOR INVESTMENT P AL-TAJAMOUAT FOR CATERING HS * Source: Bloomberg Worst Performers UNITED CABLE INDUSTRIES CO DEERA INVESTMENT & REAL ESTA SALAM INTL TRANSPORT & TRAD EL-ZAY READY WEAR MANUF CO JORDAN PRESS FOUNDATI/AL-RAI % Change (2.17) (2.30) (3.08) (3.45) (4.26) Top Traded Companies by Volume Value traded (JOD) 400,474 338,586 251,633 169,483 159,471 416,724 UNION INVESTMENT CORP UNITED CABLE INDUSTRIES CO UNION LAND DEVELOPMENT CORP ALIA THE ROYAL JORDANIAN AIR RUM TOURIST TRANSPORTATION AL-TAJAMOUAT FOR CATERING HSC UNION INVESTMENT CORP Volume traded (Shares) 314,107 226,592 208,064 172,762 169,880
2. Macroeconomic & Corporate News 800,000 guest workers do not have work permits There are more than 800,000 guest workers in the Kingdom who do not have work permits, Labour Minister Ali Ghezawi said on Saturday.During a meeting organised by the Jordan Chamber of Industry (JCI), Ghezawi noted that the number of guest workers who have work permits ranges between 312,000 and 350,000, the Jordan News Agency, Petra, reported. He highlighted the importance of inspection campaigns to detect and deport illegal foreign workers, to better organise the labour market and ensure jobs for Jordanians.The minister called for activating the role of the private sector in the national employment reform programme and supporting young people in choosing technical specialisations. SSC records JD556 million of insurance surpluses in 2016 Social Security Corporation (SSC) Spokesperson Musa Sbeihi said that the corporation achieved insurance surpluses of JD556 million in 2016, at a growth rate of 17 per cent since 2015 and that it expects them to exceed JD610 million in 2017, the Jordan News Agency, Petra, reported on Saturday.He added that the assets of the SSC amounted to JD9.046 billion in September, with a growth rate of 9 per cent at the end of 2016.The press statement came on the sidelines of a meeting organised on Saturday by the SSC with the Jordanian community in Buraydah in Qassim region in Saudi Arabia. Imposing new taxes is Jordanian sovereign decision The International Monetary Fund (IMF) supports Jordan’s efforts to implement tax reforms, IMF Director of the Middle East and Central Asia Department Jihad Azour said, adding that a wider popular participation in taxpaying contributes to the success of such reforms.Replying to questions by the Jordan News Agency, Petra, at a recent conference in Rabat, Azour stressed that imposing any new taxes is a sovereign decision by the government and that IMF only provides the government with consultation services.He added that Jordan is among the countries that were most affected by regional circumstances, and hosted one of the biggest numbers of refugees.Such circumstances had various impacts on the Kingdom’s economy, which required an economic reform programme to lower budget deficit and achieve economic stability through providing more investment opportunities to the private sector. * 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.