Amman Stock Exchange Daily Report - 24 February

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1. Amman Stock Exchange 24-Feb-20 AMMAN SE GENERAL INDEX 1 ,910 Close % Change Year-to-Date (YTD) 1,851.71 0.32% 2.01% Daily Volume (shares) 5,393,806 Daily Turnover (JOD) 6,448,540 6 MONTHS INDEX PERFORMANCE 1,890 1,870 1,850 1,830 1,810 1,790 1,770 1,750 Best Performing Companies SPECIALIZED INVESTMENT COMPO FIRST FINANCE CORP INJAZ FOR DEVELOPMENT AND PR NATL PORTFOLIO SECURITIES DAR AL DAWA DEVELOPMENT &INV Worst Performing Companies % Change 6.17 3.39 3.17 3.17 3.09 Top Traded Companies by Volume (Shares) RUM TOURIST TRANSPORTATION C UNION INVESTMENT CORP SPECIALIZED INVESTMENT COMPO CAPITAL BANK OF JORDAN SOUTH ELECTRONICS * Source: Bloomberg 736,099 556,605 502,902 290,699 252,850 JORDAN STEEL BARTER CO FOR INVESTMENT & T COMPREHENSIVE MULTIPLE TRANS JORDAN MASAKEN FOR LAND & IN PETRA EDUCATION % Change (3.45) (4.00) (4.35) (5.00) (7.50) Top Traded Companies by Value (JOD) JORDAN DUTY FREE SHOP SPECIALIZED INVESTMENT COMPO UNION INVESTMENT CORP RUM TOURIST TRANSPORTATION C JORDANIAN ELECTRIC POWER 1,980,000 825,342 661,523 353,329 297,274
2. Macroeconomic & Corporate News Jordan ranked 13th among Arab countries for expected GDP growth in 2020 — report Jordan ranked 13th among 20 Arab economies in terms of expected GDP growth for the year 2020, according to the Prospects for Arab Economies Report, with a growth rate that is likely to reach 2.4 per cent. The report, issued by the Arab Investment and Export Credit Guarantee Corporation, placed Jordan after Djibouti, Mauritania, Egypt, Iraq, Morocco, Oman, Somalia, Kuwait, Qatar, the United Arab Emirates, Tunisia and Algeria. “Jordan has been implementing several reforms, including the government economic incentive bundles, and are now at their 5th reform package,” said Adel Bino, an economist and professor of economy at the University of Jordan.He told The Jordan Times over the phone that, while some of the government's decisions regarding the economy still need more than a few months to take effect, some sectors are already welcoming the reforms.“When you have a country as financially challenged as Jordan, you have to constantly introduce reform packages not just for the sake of paying off your debts, but to stop the masses from causing political upheaval,” said professor of political economy and international affairs Bader Madi.The report indicated that the gross domestic product continued to Resort project in Aqaba moves ahead after years of construction delays In order to make up for eight years of construction delays, the Red Sea Resort investment project is progressing according to a fixed plan that divides work into five phases. “The significant project delay was due to deficiencies and irregularities in procedures, which were solved after introducing a new board of directors at the end of 2015,” said Talal Yaish, CEO of Arab Phoenix Holdings (APH), which owns the resort.The public shareholding company’s current management “was able to reach milestones in eliminating the project’s financial waste”, the CEO told The Jordan Times on Sunday. The resort, which covers around 147,000 square metres at a cost of $60 million, adds value to the Aqaba Special Economic Zone Authority (ASEZA), he said, by providing a “distinctive and comprehensive model” for projects, with its variety of facilities and recreational services. Overlooking Aqaba’s south beaches, the project includes 260 villas, which come in four designs and concepts to serve different segments of the city’s residents as well as visitors and investors. King holds talks with Qatar emir, reaffirms brotherly ties His Majesty King Abdullah held talks with Qatar Emir Sheikh Tamim Bin Hamad Al Thani, at Al Husseiniya Palace on Sunday, covering the strong ties between the two countries and means to advance cooperation, in addition to the latest regional developments. The King and Sheikh Tamim reaffirmed the deep-rooted, brotherly ties between the two countries, and keenness to bolster them across all sectors, especially economic and investmentrelated fields, according to a Royal Court statement. Discussions at the bilateral talks — which were followed by expanded talks attended by HRH Prince Ali, the escort of honour, and senior officials on both sides — covered the * 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.