Amman Stock Exchange Daily Report - 4 October

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1. Amman Stock Exchange 4-Oct-17 Close AMMAN SE GENERAL INDEX 2 ,109.24 % Change Year-to-Date (YTD) -0.28% -2.81% Daily Volume (shares) 2,918,449 6 MONTHS INDEX PERFORMANCE 2,300 2,250 2,200 2,150 2,100 2,050 2,000 Best/Worst Performing Companies Best Performers AL-TAJAMOUAT FOR CATERING HS AMMOUN INTERNATIONAL FOR INV UNION INVESTMENT CORP DAR AL DAWA DEVELOPMENT &INV UNITED FINANCIAL INVESTMENTS % Change 5.00 4.82 4.31 3.68 2.90 Top Traded Companies by Value UNION INVESTMENT CORP SPECIALIZED INVESTMENT COMPO JORDAN STEEL ALIA THE ROYAL JORDANIAN AIR AL-TAJAMOUAT FOR CATERING HS * Source: Bloomberg Worst Performers JORDAN KUWAIT BANK RUM TOURIST TRANSPORTATION C AL-RAKAEZ INVESTMENT CO JORDAN STEEL ALIA THE ROYAL JORDANIAN AIR % Change (2.23) (2.25) (2.70) (3.45) (4.26) Top Traded Companies by Volume Value traded (JOD) 360,247 264,205 250,344 206,810 168,554 360,247 UNION INVESTMENT CORP SPECIALIZED INVESTMENT COMPO UNION LAND DEVELOPMENT CORP JORDAN PETROLEUM REFINERY CO ARAB BANK PLC UNION INVESTMENT CORPCOMPO SPECIALIZED INVESTMENT Volume traded (Shares) 431,361 262,656 244,400 230,542 211,828
2. Macroeconomic & Corporate News Foreign direct investments jump by 87 per cent in second quarter of 2017 The Council of Ministers on Wednesday outlined the achievements of the Jordanian economy including the increase of foreign direct investments (FDI), the Jordan News Agency, Petra, reported.According to the Central Bank of Jordan (CBJ), FDI in Jordan rose by 87 per cent during the second quarter of 2017, reaching JD435.5 million compared to JD232.7 million during the same period of 2016.State Minister for Investment Affairs Mohannad Shehadeh outlined the ministry’s measures to encourage investment, including the establishment of a fast lane for investors at the Queen Alia International Airport and reducing the number of security approvals and registration procedures.The measures also included facilitating the process to obtain driving licences for investors that carry investment cards, he noted. The ministry, in cooperation with USAID, prepared a new promotional strategy that identified the countries and priority sectors to be targeted, according to Shehadeh. New Income Tax Law aims to target tax evasion The major objective behind amending the Income Tax Law is not to expand the taxpayer base but to primarily address tax evasion and improve tax compliance, a senior official said.The official, familiar with the changes under way to the Income Tax Law, cited Prime Minister Hani Mulki's assertion Monday that there "should be a revision of the bill but any amendments will not affect the low-income and middle-income individuals and households”.During his meeting with Senate President Faisal Fayez and Lower House Speaker Atef Tarawneh, Mulki noted that amendments to the law aim at improving the efficiency of tax collection and stiffen penalties for tax evasion. Mulki stressed his government’s commitment to His Majesty King Abdullah’s directives to protect the middle- and lowincome segments of Jordanians. Head of fuel syndicate calls for review of commission rate Head of the Syndicate of Fuel (SOF) Nahar Seidat on Wednesday issued a statement in Al Rai Arabic daily calling on the prime minister, the Lower House speaker, and the chairman of the Lower House Energy Committee to reconsider the low commission rate charged by fuel stations.The statement came after a meeting between the owners of national fuel stations and representatives of the three fuel distributing companies in the Kingdom The SOF also presented the issue several times over a year ago to the minister of Energy, but received no response, according to the statement. The owners of gas stations, who invested a great amount of money in the sector, are suffering from the high expenses incurred from maintaining their fuel stations. The low commission rate is forcing many stations to close down. The statement noted that 90 per cent of the workers in this sector are Jordanian, the statement read. * 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.