RAMALLAH, December 20, 2011 (WAFA) – Palestine Telecommunication Company (Paltel) Tuesday said that it got on two international indexes as a sign that its shares are among the best in the region, Paltel chief executive officer Ammar al-Aker said in a press conference in Ramallah.

He said Paltel, the largest provider of telecommunications service in the Palestinian Territory, has joined Standard & Poors Arab Federation of Exchanges (S&P AFE 40) index and the Dow Jones Federation of Euro-Asian Stock Exchanges (Dow Jones – FEAS 50) making it the first Palestinian company to join international indexes.

The two indexes measure performance of the company and by being on the index is proof that there is trust and confidence in the company, said Aker.

He stressed that this step is bound to increase foreign investment in Paltel shares, which means better value and profit for the shareholders and the Palestinian market in general.

Aker also said that by joining the indexes, which put Paltel in par with major Arab, European and Asian companies, Palestine has been put on the map of the world.

Ahmad Owaida, CEO of Palestine Exchange, said the move is a major asset for the Palestinian stock market, where 46 companies are traded. He said it shows confidence by renowned world index providers such as S&P and Dow Jones of Palestinian companies and the stock exchange.

Palestine Exchange is already a member of the AFE and has also joined FEAS in March.

Paltel trading on the Palestine Exchange makes over 30% of the stock market trading, said Owaida.

M.S.