Amman Stock Exchange Daily Report - 7 May

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1. Amman Stock Exchange 7-May-18 AMMAN SE GENERAL INDEX 2 ,300 Close % Change 2,165.12 -0.34% Year-to-Date (YTD) 1.80% Daily Volume (shares) 4,350,631 Daily Turnover (JOD) 5,077,487 6 MONTHS INDEX PERFORMANCE 2,250 2,200 2,150 2,100 2,050 2,000 1,950 Best Performing Companies AL SANABEL INTERNATIONAL CO IBN AL-HAYTHAM HOSPITAL PLC RUM TOURIST TRANSPORTATION C JORDAN TELECOM REAL ESTATE & INVESTME/THE Worst Performing Companies % Change 4.35 4.08 3.85 3.05 3.03 Top Traded Companies by Volume (Shares) SURA DEVELOPMENT AND INVESTM RUM TOURIST TRANSPORTATION C SPECIALIZED INVESTMENT COMPO ARAB EAST INVESTMENT ARAB BANK PLC * Source: Bloomberg 876,281 736,910 458,625 298,223 196,758 COMPREHENSIVE LAND DEVELOPME READY MIX CONCRETE & CONSTR PHILADELPHIA PHARMACEUTICAL NUTRI DAR JORDAN NATL - SHIPPING LINES % Change (2.67) (3.26) (3.45) (3.51) (5.85) Top Traded Companies by Value (JOD) ARAB BANK PLC RUM TOURIST TRANSPORTATION C SPECIALIZED INVESTMENT COMPO SURA DEVELOPMENT AND INVESTM JORDAN PETROLEUM REFINERY CO 1,478,961 586,379 465,859 385,564 225,349
2. Macroeconomic & Corporate News Special Operations Forces Exhibition opens today The 12th Special Operations Forces Exhibition (SOFEX) 2018 starts Monday under the patronage of His Majesty King Abdullah, the Jordan News Agency, Petra, reported.The event represents the biggest defence exhibition focused on special operations and national security in the Middle East and North Africa, SOFEX Director Amer Tabaa said, noting that it showcases all equipment and machinery used by special operations, peacekeeping and security forces, in addition to defence facilities and field training. SOFEX offers a global platform for dialogue for countries seeking international peace and security, the director said, noting that the event is held under the direct supervision of HRH Prince Feisal and with the support of the Jordan Armed Forces-Arab Army and all security apparatuses.He pointed out that SOFEX will begin with a conference for the chiefs of special operations forces in the presence of more than 600 participants, including ministers of defence, army chiefs and senior officers of special operations and land and marine forces from the region. Cabinet to discuss new income tax law The Cabinet is expected to discuss and set the mandating reasons for a new income tax law before the bill is posted online for people to access and comment on.During a meeting with the Economic Policies Council (EPC) on Sunday, Prime Minister Hani Mulki said that a copy of the first draft of the law would be forwarded to the legislation committee, which is affiliated with the EPC, to discuss and give feedback, especially with regard to the aspects of the bill that stipulate tougher penalties for tax evasion, and the others concerning social justice and the proposed ascending tax scale. The law, which is expected to trigger a national debate and controversy, is aimed at curbing tax evasion and improve collection mechanisms as one way the government has sought to address economic ailments, besides its 2017 measures to lift subsidies and other corrective measures. Local news reports cited leaks suggesting that the new draft law would also lower tax exemption for families from JD24,000 to JD16,000 and for individuals from JD12,000 to JD8,000. Phosphate company restores JD20m of ‘graft money’ The Jordan Phosphate Mining Company (JPMC) and contractor companies on Sunday signed a settlement deal under which the company restored JD20 million in “graft money”, the Jordan News Agency, Petra, reported.The agreement, signed at the Jordan Integrity and Anti-Corruption Commission (JIACC), is related to financial, technical and administrative violations that led to wasting shareholders’ money, according to Petra.JIACC was quoted by Petra, as announcing it had conducted 44 probes that led to identifying the amount (JD20 million) that was illegally gained by the contractors in the period between 2007 and 2012.In the first phase, the JIACC came to conclusive results that JD2 million was wasted as a result of corrupt practices by the construction contractors. It immediately referred the entire case to the prosecution department. * 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.