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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Banks

Egypt's Domestic Debt Surpasses Two Trillion Pounds -C. Bank


Published 2015-07-07 09:15:37| Amwal Al Ghad English

Egypt's domestic debt reached 2.016 trillion pounds ($261 billion) in the third quarter, the central bank said on Monday, reflecting the government's reliance on domestic borrowing to finance its deficit. The government is walking a fine line between trying to cut its deficit, projected at more than 10 percent of gross domestic product (GDP) in the fiscal year that ended last week, whilst luring investors and restoring growth. Political turmoil since a 2011 uprising has hurt Egypt's economy, but investors have welcomed painful reforms aimed at fixing the state's finances such as slashing energy subsidies and introducing some new taxes. "The government is highly dependent on local sources, mostly banks, in the form of treasury bills and bonds, to finance its deficit," said Hany Farahat, senior economist at CI Capital.
Financial Institutions
Instalments of new and current life insurance issues reached EGP 3.54bn between January and April, compared to EGP 2.8bn during the same period in 2014, representing a 25.8% increase. The new and renewed insurances on properties reached EGP 2.15bn, with a slight increase of 5.6%, compared to EGP 2bn over the same period 2014, head of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy announced Sunday. Samy clarified that the petroleum sector has witnessed the highest increase percentage amongst properties insurance instalments, recording a 208% increase. This was followed by the aviation sector with 148%. The highest decrease was witnessed by the supplementary car insurance sector, reaching 20% and vessels bodies by 13%, compared to the first four months of 2014. Moreover, in the first four months of 2015, the total value of compensations paid in properties insurance has reached EGP 1.3bn compared to 1.06bn during the same period 2014. Whereas, life insurance compensations reached EGP 1.28bn by April 2015, compared to EGP 1.1bn during the same comparison period, Samy added.
Real Estate
The New Urban Communities Authority (NUCA) has adopted its new budget for the current fiscal year (FY) 2015/2016, valued at EGP 33.2bn, according to Minister of Housing and NUCA Head Mostafa Madbouly. Madbouly added that: EGP 5bn has been set aside for the new administrative Cairo Capital project; EGP 2bn for 1m acres reclamation project; and a similar amount of EGP 2bn for the new El Alamein City project. The ministry will complete the implementation of the first phase of the “150,000 housing units” project, creating middle-class housing in cooperation with the armed forces, Madbouly added. This comes in addition to the completion of 50,000 units in Badr City, 6th of October City and Burg Al-Arab, with funding from an Emirati grant. Madbouly emphasised that the lands allocated for investment will be supplied with water, sanitation, roads, irrigation, and electricity utilities, and allocated lands supplied for building residential units at different levels. “For the social housing project, the ministry will complete building 57,640 units, and start building 58,444 units in some cities, and is expected to be fully completed during the current FY,” said Madbouly. “For middle-class housing, the ministry will complete 31,956 units (phase 1), and start building 17,568 housing units (Phase 2), besides completing 17,616 units (phase 3), and 18,096 units (Phase 4)”. The new administrative Cairo Capital project was announced during March’s Economic Summit held in Sharm El-Sheikh, as the country’s latest sky-reaching project, with a total cost of $80bn, covering an area of 700 sqkm. The project will be developed by Capital City Partners, a private real estate firm chaired by tycoon Mohamed Al-Abbar, who is behind Dubai’s Burj Khalifa. The infrastructure plan for the project is expected to be completed in August, according to Madbouly.