Amman Stock Exchange Daily Report 8 December

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1. Amman Stock Exchange 8-Dec-16 Close AMMAN SE GENERAL INDEX 2 ,163.42 % Change Year-to-Date (YTD) 0.06% 1.27% Daily Volume (shares) 3,775,422 6 MONTHS INDEX PERFORMANCE 2,180 2,160 2,140 2,120 2,100 2,080 2,060 2,040 2,020 Best/Worst Performing Companies Best Performers JORDAN NATL SHIPPING LINES SPECIALIZED INVESTMENT COMPO ARAB EAST INVESTMENT NATIONAL CABLE & WIRE MANUF REAL ESTATE DEVELOPMENT % Change 5.44 4.81 3.92 3.13 2.78 Top Traded Companies by Value ARAB BANK PLC SPECIALIZED INVESTMENT COMPO UNITED FINANCIAL INVESTMENTS AD-DULAYL INDUSTRIAL PARK CO JORDAN PETROLEUM REFINERY CO * Source: Bloomberg Worst Performers AMMOUN INTERNATIONAL FOR INV UNION INVESTMENT CORP UNITED IRON & STEEL MANUFACT ARABIAN AVIATION INVESTMENT JORDAN MASAKEN FOR LAND & IN % Change (3.31) (3.94) (4.17) (4.82) (4.82) Top Traded Companies by Volume Value traded (JOD) 951,177.40 447,059.00 374,569.30 280,529.20 202,532.20 Volume traded (Shares) AD-DULAYL INDUSTRIAL PARK CO 630,147 REAL ESTATE DEVELOPMENT 448,553 SPECIALIZED INVESTMENT COMPO 423,000 UNITED FINANCIAL INVESTMENTS 319,235 AL-TAJAMOUAT FOR CATERING HS 250,847
2. Macroeconomic & Corporate News Salary deductions for SSC subscriptions to rise by January 2017 The Social Security Corporation (SSC) will start deducting an overall of 21.75 per cent of the monthly salaries of subscribers working in the private sector starting January 1, 2017. A statement issued by the corporation’s media department on Saturday said the new deduction rates were endorsed in the 2014 Social Security Law, which entails a gradual increase of 0.75 per cent in deduction rates until it reaches a maximum of a 3 per cent increase (2 per cent on the employer and 1 per cent on the subscriber). Under the new adjustment of deduction rates, employers have to pay 14.25 per cent of the amount and subscribers have to pay 7.5 per cent, with social security insurance covering old-age retirement, disability, death, work injuries, maternity and unemployment. Commission sets new electricity tariffs for 2017 The Energy and Minerals Regulatory Commission (EMRC) on Thursday announced that it has adopted a scenario for electricity tariffs that will see lower rates for major consumers, while it will increase the tariffs “for all sectors” in case the price of a crude oil barrel reaches $55 and above. According to Reuters, Brent crude stood at $53.50 a barrel by 1400 GMT on Thursday, up by $0.50 from the day before. Authorities started to phase out fuel subsidies in 2012, when the National Electric Power Company (NEPCO) incurred billions in losses after the Egyptian gas supplies came to a complete halt and the country had to rely on the costly heavy oil to generate electricity. Under the scenario, one of three considered by the agency, the price of each kWh for the mining and quarrying industry, for example, will be reduced from the current 264 fils for day energy to 237 fils, or by 10.2 per cent. For night energy, the rate will go down from 197 to 170 fils, while no reduction will be applied to peak load, whose rate stands now at 298 fils. Government mulling minimum wage raise — spokesperson The government is studying the possibility of increasing the minimum wage, which currently stands at JD190, a senior official said on Thursday. Speaking at a press conference at the Prime Ministry, Minister of State for Media Affairs and Government Spokesperson Mohammad Momani said the government is studying the issue and a decision is expected soon. However, Momani said he cannot set a specific date for it. He added that the government has to review the issue thoroughly as there are many employees at public agencies who receive the minimum wage. Any increase, he explained, will cost the government millions of dinars, and this needs to be taken into consideration. Possible USD470m Aid to Jordan in December Informed sources confirmed to “Al Ghad” that an American aid of USD470 million is expected to arrive within the current month of December to support the Kingdom’s public budget, totalling all US aids to Jordan at USD812 million, with USD52 million extended via global low-cost credit facilitation media. USD 250 million soft loan from the World Bank The Ministry of Planning and International Cooperation on Sunday has signed a soft loan agreement worth USD 250 million from the World Bank to support the budget. The government has completed official negotiations with the world bank officials on the loan, and is expected to convert the entire amount to the Treasury by the end of this year. * 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, retransmit, 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.