Jan 15 2012 |
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ASE chief sees higher flow of non-Jordanian investments
By Mohammad Ghazal AMMAN -- Amman Stock Exchange (ASE) Chief Executive Officer Jalil Tarif expressed optimism recently that non-Jordanian investments in Amman Bourse would continue to grow in 2012 in spite of ongoing turmoil in the region."I am optimistic about 2012, especially as far as foreign investments in the bourse are concerned. Non-Jordanian investments are institutionalised and I expect that to continue," Tarif told The Jordan Times in an interview.
"Non-Jordanian investments in the bourse are not considered hot money. But are strategic," he said.
As a result, the net of non-Jordanian investments in 2011 showed an increase of JD78.6 million compared with a JD14.6 million diminution in 2010, according to the ASE figures.
Tarif expected the majority of companies listed on Amman Bourse to announce positive 2011 financial results noting that, in general, there was about 15 per cent growth in companies' profits in the first nine months of 2011.
"I predict an improvement in companies' profits in 2011 in spite of negative consequences on the bourse in light of economic and political developments in the region," he said.
The ASE trading value last year dropped by about 57 per cent to JD2.9 billion compared to JD6.7 billion in 2010 as a result of economic and political troubles in the region.
© Jordan Times 2012
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