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Amman Stock Exchange Daily Report - 9 January

IB Insights
By IB Insights
6 years ago
Amman Stock Exchange Daily Report - 9 January

Ard, Mal

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  1. Amman Stock Exchange 9-Jan-18 AMMAN SE GENERAL INDEX 2 ,200 Close % Change 2,120.80 0.00% Year-to-Date (YTD) -0.28% Daily Volume (shares) 4,990,155 Daily Turnover (JOD) 6,501,022 6 MONTHS INDEX PERFORMANCE 2,180 2,160 2,140 2,120 2,100 2,080 2,060 2,040 2,020 Best Performing Companies UNITED CABLE INDUSTRIES CO JORDAN EMIRATES DIMENSIONS REAL ESTATE DEVELOPMENT AL AMAL FINANCIAL INVESTMENT JORDAN PETROLEUM REFINERY CO Worst Performing Companies % Change 2.70 2.56 2.04 2.00 2.00 Top Traded Companies by Value (JOD) AL EQBAL CO FOR INVESTMENT P INTERMEDIATE PETROCHEMICHALS SURA DEVELOPMENT AND INVESTM AL ENTKAEYA FOR INVESTMENT UNION INVESTMENT CORP * Source: Bloomberg UNION LAND DEVELOPMENT CORP ISRAA ISLAMIC FINANCIAL AL-TAJAMOUAT FOR CATERING HS SALAM INTL TRANSPORT & TRAD JORDAN INTL INSURANCE % Change (2.50) (2.56) (3.13) (3.39) (3.85) Top Traded Companies by Volume (Shares) 2,560,176 726,908 459,697 356,404 299,359 SURA DEVELOPMENT AND INVESTM INTERMEDIATE PETROCHEMICHALS AL ENTKAEYA FOR INVESTMENT UNION INVESTMENT CORP REAL ESTATE DEVELOPMENT 842,080 835,500 451,239 258,950 242,986
  2. Macroeconomic & Corporate News Economic reforms should guarantee protection of low-income segment His Majesty King Abdullah on Monday voiced appreciation for the “sincere efforts” exerted by the parliamentary committees during 2017, a Royal Court statement said. At a meeting with Lower House Speaker Atef Tarawneh and the presidents of House committees at Al Husseiniya Palace, His Majesty stressed that the essential economic reforms being implemented must take into consideration protecting the low-income Jordanians and empowering the middle class. Despite the economic challenges facing Jordan, the King said, there are reasons for optimism, stressing the importance of tackling the public debt with focusing on economic growth. "We should not deceive ourselves and work hard with a different approach for 2018,” said His Majesty, adding that he is optimistic as Jordan has the capability to advance its development process. PM forms panel to protect investors after assault Prime Minister Hani Mulki on Monday formed a ministerial committee tasked with protecting investors against assaults and violations, the Jordan News Agency, Petra, reported. The committee will comprise the interior, labour, investment affairs and industry ministers, and will be responsible for taking the legal and administrative measures against any person that would commit such acts or any violations against guest investors. Labour Minister Ali Ghezawi briefed Mulki on a recent incident in which a factory manager was beaten on Sunday by a group of "outlaws". The premier denounced the act, describing it as an assault against the civil security and would undermine all efforts to attract investment to the Kingdom. He directed Interior Minister Ghaleb Zu'bi to instruct the governors to deal firmly with such attacks and to take legal action against perpetrators, adding that all law enforcement agencies should carry out their responsibilities in this regard. Gov’t announces new price list for bread The government on Monday announced the new prices for bread as of February 1, after lifting decades-long subsidies. At a press conference, Minister of Industry, Trade and Supply Yarub Qudah said that the prices will be JD0.40 for small pita bread, JD0.32 for large pita bread and JD0.35 for Arabic bread (Mashrouh) per kilogramme. Qudah told reporters that the prices will remain unchanged till the end of 2018 as the Kingdom has sufficient reserves of wheat. Other products of bakeries, which are already not subsidised, will not be affected by the new decision, the minister added. With this measure, Qudah said, the government will save JD50 million in subsidies that used to amount to around JD120 million annually, of which only JD45 million was directed to Jordanians as more than a third of the population are non-citizens and have been benefiting from the subsidy system. * 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.