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London investors turn attention to Palestine

2014-01-21

London-UK, Leaders of Palestine’s capital market, investment & export community concluded the Palestine Capital Markets Day in strength, highlighting Palestine as ‘the investment opportunity for 2014’. Led by national export body, Palestine Trade Centre (PalTrade) and the Palestine Exchange (PEX), the delegation told influential institutional investors and senior analysts in London that 2014 could be a ‘threshold year’ for Palestine’s growing economy and a robust capital market. Palestine has been one of the fastest growing economies in the MENA region over the past five years, achieving GDP growth averaging 8.4 per cent. Mr. Ahmad Aweidah, CEO, the Palestine Exchange described 2014 as a ‘threshold year’ for Palestine’s economy. Speaking at the press conference at London’s Grosvenor House Hotel on 17 January, he described a series of critical factors that could significantly boost Palestine’s economy. “We are now achieving a series of important economic breakthroughs that could see our growth accelerate even more strongly. “Last week our delegation held over 30 meetings with London-based international investment funds and many influential analysts. There is a clear recognition that Palestine is on the threshold of strong growth. This is the third London Road show that we have held. Each time we meet London Institutional investors and analysts there is a greater understanding of the opportunities presented by Palestine. There is increasing appreciation of the potential presented by our financial services and banking sectors, ICT, infrastructure and high value agricultural sectors. Tourism is also beginning to make strong progress with attractions including Bethlehem, the Dead Sea and Jericho. “The announcement by S&P Dow Jones in December 2013 that it has added coverage of Palestine to its suite of frontier market indices is a critical step forward,” Mr. Aweidah said. The Palestine Index is currently a standalone country Index, but it will remain on the S&P Dow Jones Indices watch-list for potential future inclusion in the S&P Frontier BMI and Dow Jones Total Stock Market. MSCI also announced in June 2013 that it created a Stand Alone Country Index for Palestine for potential inclusion in its MSCI Frontier Index. Mr. Aweidah reported that: “The FTSE Indices have also informed the PEX that in 2014, the FTSE will be reviewing the eligibility of including Palestine as a Frontier market within the FTSE Country Classification Scheme.”  Mr. Aweidah added: “It is anticipated that the Palestine Capital Market Authority (PCMA) will be given a full membership of IOSCO in February 2014, reinforcing confidence in the efficiency and safety of transactions in Palestine. “The robustness and transparency of regulation has been a defining characteristic for the PEX over the past 17 years. IOSCO recognition of the PCMA will further strengthen thrust, which is so important to the continuing growth of our Exchange.” The high powered delegation also included CEOs and senior managers of leading Palestinian financial institutions and listed companies, including the Palestine Capital Market Authority (PCMA), the Palestine Investment Fund (PIF), PALTEL Group, Bank of Palestine, PADICO Holding, Sahem Trading and Investment and Lotus for Financial Investment.  The Road-show speaker line-up included Mr. Ammar Aker, CEO, of integrated telecom group, PALTEL Group. He outlined how his company has a market capitalization of $1US billion and revenue in 2012 of $US 516.01m.  Mr. Aker reported how his company’s dividend yield (8.7 per cent in 2012) is the highest achieved by an ICT company in the Middle East.  “I believe there are many excellent entrepreneurs in Palestine, leading highly professional businesses that have been growing steadily for many years. I am sure that they will continue to achieve strong, reliable growth and that if there can be a political settlement, there will be an economic boom in Palestine.”  John Davies, Vice President, Global Exchange Traded Products at S&P Dow Jones Indices said: “The fact that we have built the Palestine Index is an important statement. We don’t build indices simply because we feel they are needed. We build them because our clients are asking for them. The establishment of the new Index is evidence that there is significant demand for investment in Palestine.”  Mr. Davies stated that the stand alone BMI index achieved a 41 percent cumulative returns since inception a year ago which compares favorably with the Pan-Arab composition Index at about 24.5 percent and the S&P500 Composition Index at about 30.2 percent.

 


 

2018-02-22
The PEX records average PE of 13.8x and average P/BV of 1.23x

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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