Amman Stock Exchange Daily Report - 29 March
- Amman Stock Exchange 29-Mar-18 AMMAN SE GENERAL INDEX 2 ,300 Close % Change 2,233.26 0.53% Year-to-Date (YTD) 5.01% Daily Volume (shares) 8,704,279 Daily Turnover (JOD) 12,774,045 6 MONTHS INDEX PERFORMANCE 2,250 2,200 2,150 2,100 2,050 2,000 1,950 Best Performing Companies AL EQBAL CO FOR INVESTMENT P INJAZ FOR DEVELOPMENT AND PR DEERA INVESTMENT & REAL ESTA EL-ZAY READY WEAR MANUF CO OFFTEC HOLDING GROUP PLC Worst Performing Companies % Change 5.70 4.97 4.76 4.76 4.17 Top Traded Companies by Volume (Shares) SPECIALIZED INVESTMENT COMPO AL-TAJAMOUAT FOR CATERING HS UNION INVESTMENT CORP AKARY FOR INDUSTRIES AND REA JORDAN STEEL * Source: Bloomberg 1,122,101 359,355 309,511 251,413 210,835 UNION LAND DEVELOPMENT CORP NATIONAL CABLE & WIRE MANUF TUHAMA FOR FINANCIAL INVESTM JORDAN PRESS FOUNDATI/AL-RAI SOUTH ELECTRONICS - % Change (3.24) (3.57) (4.26) (5.00) (7.14) Top Traded Companies by Value (JOD) JORDAN TELECOM SPECIALIZED INVESTMENT COMPO AKARY FOR INDUSTRIES AND REA AL EQBAL CO FOR INVESTMENT P UNION INVESTMENT CORP 6,169,324 976,257 911,995 529,430 514,237
- Macroeconomic & Corporate News ‘Jordan needs to start manufacturing its own renewable energy storing technology’ Jordan should "catch the train" and begin planning for manufacturing its own renewable energy storing technology, former energy minister Malek Kabariti, said on Monday. In a forum held by the Abdul Hameed Shoman Foundation in partnership with the Arab Forum for Environment and Development, Kabariti discussed the opportunities and challenges of the renewable energy sector in Jordan. The storage of generated power is a crucial issue, according to the former minister, who said, "wind and sun are not available at the level needed to generate power around the clock and throughout the year." "There are international high-quality technologies that exist for energy storage but the current manufacturing quantity is still insufficient to cover the world's high demands," Kbariti stated, pointing out that Jordan also suffers from deficiencies in the implementation of decisions in this sector. Jordan, EU sign two grant agreements worth 20m euros Jordan and the EU on Wednesday signed two grant agreements each worth 10 million Euros to support economic growth and partnerships, a Planning Ministry statement said. The first grant agreement will be allocated for the “Trade-for-Development" project to enhance inclusive economic growth in the Kingdom through supporting startups and SMEs with a special focus on the northern region. It also seeks to help in meeting the exporting requirements to the EU under the simplified Rules of Origin agreement. Finance Ministry denies claim of hybrid cars tax decrease The Finance Ministry on Wednesday dismissed reports circulated by some news and social media outlets of plans to lower taxes on hybrid cars. In a statement carried by the Jordan News Agency, Petra, the ministry said that it had no intention to reverse the government›s decision regarding hybrid vehicles, under which a special tax of 55 per cent of the car price was imposed on hybrids. Even with this 55 per cent tax, hybrids still have preferential price characteristics when compared to regular fuel cars, the statement added. The ministry stressed that any decision related to taxes and fees goes through thorough studies that highlight their necessitating reasons, in addition to going through other studies following their implementation to ensure that such decisions can achieve their expected goals, Petra reported. * 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.