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Amman Stock Exchange Daily Report - 22 April

IM Insights
By IM Insights
4 years ago
Amman Stock Exchange Daily Report - 22 April


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  1. Amman Stock Exchange 22-Apr-19 AMMAN SE GENERAL INDEX 2 ,050 Close % Change 1,898.22 0.14% Year-to-Date (YTD) 0.43% Daily Volume (shares) 3,228,638 Daily Turnover (JOD) 3,526,003 6 MONTHS INDEX PERFORMANCE 2,000 1,950 1,900 1,850 1,800 1,750 Best Performing Companies AD-DULAYL INDUSTRIAL PARK CO AL SANABEL INTERNATIONAL CO SPECIALIZED INVESTMENT COMPO ARABIAN STEEL PIPES UNION LAND DEVELOPMENT CORP Worst Performing Companies % Change 4.35 3.77 3.60 3.57 3.53 Top Traded Companies by Volume (Shares) SPECIALIZED INVESTMENT COMPO ARAB EAST INVESTMENT EMMAR INVESTMENTS & REAL EST JORDAN PETROLEUM REFINERY CO AD-DULAYL INDUSTRIAL PARK CO * Source: Bloomberg AFAQ FOR ENERGY CO PLC BABELON INVESTMENTS CO PLC SABA'EK INVESTMENT EMMAR INVESTMENTS & REAL EST ARAB BANKING CORP/JORDAN % Change (4.76) (4.79) (5.00) (5.26) (6.93) Top Traded Companies by Value (JOD) 716,578 320,400 221,010 220,415 168,339 SPECIALIZED INVESTMENT COMPO JORDAN PETROLEUM REFINERY CO METHAQ REAL ESTATE INVESTMEN JORDAN INTL TRADING CENTER ARAB EAST INVESTMENT 805,009 582,291 341,114 208,074 173,016
  2. Macroeconomic & Corporate News ‘Investment in renewable energy to exceed $4b mark’ Minister of Energy and Mineral Resources Hala Zawati on Sunday launched a pan-Arab workshop on sustainably integrating renewable energy into electrical grids. The workshop hosted 40 experts from 10 Arab countries, including Jordan, according to a statement released by the Energy Ministry. Zawati began the workshop with a presentation on a study tackling the readiness of renewable energy in Jordan, prepared by the International Renewable Energy Agency. The study will be one of the tools used to evaluate the performance of renewable energy in the Kingdom and will cover the experiences, challenges and opportunities relevant to improving the sector. “Investment in renewable energy in Jordan will exceed the $4-billion mark by 2021,” Zawati said, adding that “renewable energy will cover a fifth of the Kingdom’s electricity needs by next year”. The minister affirmed the importance of renewable energy as a contributor to mitigating the costs of imported energy, which constituted 10 per cent of the Kingdom’s GDP last year. In 2014, the cost of imported energy constituted 18 per cent of the GDP, the ministry statement added. “Renewable energy is no longer a luxury and is no longer inefficient in cost. Economic officials meet ahead of Ramadan to talk gov’t preparedness, policies Parliamentary committees and the ministerial economic team on Sunday agreed to allow loan payments due to banks to be postponed, without any extra interest accrued during the holy month of Ramadan. The committees also recommended developing a national financial reform programme in alignment with the International Monetary Fund’s (IMF) reform programme. They also stated that no new taxes or hikes would be implemented if the IMF’s reform programme was expanded or a new programme was created. These recommendations were approved during a meeting held between the Lower House’s Financial Committee and a ministerial economic team, headed by MP Khaled Bakkar. Bakkar said that the meeting was held to check on the government’s commitments and pledges in terms of economic policies meant to achieve economic growth. Nationality given to 21 investors since programme launch' Minister of State for Investment Affairs Muhannad Shehadeh on Sunday said that so far 21 investors had obtained Jordanian nationality under an incentives programme introduced by the government in 2018. “We currently have a list of 50 applications which are ready to be reviewed,” the minister, who is also chairman of the Jordan Investment Commission (JIC), told The Jordan Times on Sunday. Investors can make a zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ) or buy Treasury bonds of the same value at an interest rate to be decided by the CBJ for no less than ten years. The third option is to buy securities worth $1.5 million from an active investment portfolio or to invest $1 million in SMEs for at least five years to become a Jordanian national. Investors can also make a $2-million investment in any location in the country, or a $1.5 million investment if the project is registered in a governorate other than Amman, provided that the project creates at least 20 jobs and remains operational for at least three years. * 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.