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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        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        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        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        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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        

Business - Banks

Amwal Al Ghad English - 2015-01-29 10:18:45
Bank of England governor Mark Carney has warned the current structure of the eurozone puts it in an "odd position". Mr Carney said sharing a currency without also sharing decisions on taxes and spending did not work. "For complete solutions to current and potential future problems the sharing of fiscal risks is required," he told an audience in Dublin, Ireland. More»
Amwal Al Ghad English - 2015-01-29 10:00:00
Deutsche Bank says it expects operating cost cuts to continue in 2015 as fines loom. Its chief financial officer, Stefan Krause said: "We should see a decrease in the underlying cost base coming." Regulatory charges - finance people prefer that term to fines and being sued - are expected to increase in some areas, he said. "We have litigation settlements of the bank as well as other banks (and that) influences the operational risk map and that one is for sure going to increase," he added. "We regretfully can't give you a better outlook." Source: BBC News More»
Amwal Al Ghad English - 2015-01-29 09:32:15
The Russian government is to spend at least 2.34 trillion roubles ($35bn, £23bn) to try to stave off an economic crisis, following a collapse in oil prices and the value of the rouble. The country has also been subject to economic sanctions by the West over its involvement in the crisis in Ukraine. More»
Amwal Al Ghad English - 2015-01-27 10:19:38
The Swiss franc fell on Tuesday after a senior official at the Swiss National Bank was quoted as saying the central bank was still prepared to intervene to keep the currency relatively weak. The euro jumped to over 1.03 against the franc, from 1.0150 in early European trading. The central bank accepted that the dropping of the cap on the franc against the euro represented a tightening of policy, but it remains ready to intervene in the currency market, SNB Vice President Jean-Pierre Danthine told Swiss newspaper TagesAnzeiger in an interview. He added that the central bank had no choice but to abandon its 3 1/2-year-old cap, as the common currency was no longer a suitable reference for the franc. "My six to 12-month view is still for around 1.05 francs to the euro. I really doubt that the SNB will just be comfortable seeing the currency around or below parity for a sustained period of time," said Jane Foley, an analyst at Rabobank. The Swiss central bank's move to scrap the franc cap came as upward pressure on the currency had forced it to intervene increasingly in the currency markets, and the volume of interventions could have reached 100 billion francs ($166.26 billion) in January, Mr. Danthine was quoted as saying. A European Central Bank bond-buying program could swamp the currency markets with euro liquidity, and the "natural runoff for this liquidity would have been into the franc," he said. Mr. Danthine refuted suggestions the SNB's move represented a currency war, and said while the ECB's decision to introduce quantitative easing was a monetary policy decision, it would have side-effects for other currency regions. "Switzerland is affected by quantitative easing in Europe," he said. Asked whether the SNB should consider a new currency strategy, Mr. Danthine said Singapore's linking of its currency to a trade-weighted basket of currencies deserved closer attention. "Other small and open economies like Sweden and Norway have managed well over the years with flexible exchange rates," he said. As far as the SNB's timing of its exit from the franc cap was concerned, Mr. Danthine said the central bank had no choice as "forward guidance" wasn't possible. Mr. Danthine had told Swiss television three days before the scrapping of the cap that it remained a cornerstone of its monetary policy. "Prior to my interview there had been press speculation about an exit from the franc cap, which on Monday had led to flows into the franc. If I had canceled the interview or raised doubts about the cap, this would have intensified flows enormously," he said. The SNB's currency reserves have swelled to almost 500 billion francs since the minimum exchange rate was imposed in September 2011. The impact of the exit from the franc cap on the Alpine country's economy isn't something for which the SNB is responsible, but in general productivity will need to be increased, Mr. Danthine said. "Economically things aren't that bad. The U.S. is getting stronger, lower oil prices should provide support and the quantitative easing in Europe could have positive effects," Mr. Danthine said. In addition to scrapping the franc cap, the SNB also raised the fees it will charge banks to deposit funds with the central bank, although Mr. Danthine said it is difficult to say whether the SNB's negative rate of -0.75% can be lowered further. More»
Mohamed Hmady - 2015-01-26 13:33:05
The Arab Investment Bank (AIB) has signed today its first financing contract with Egypt’s Social Fund for Development (SFD). The contract is at value of 100 million Egyptian pounds (US$13.4 million), designed to finance small and medium-sized enterprises (SMEs) as well as SFD’s debt account activity. Debit account is the short-term facilities "overdrafts" offer clients a credit ceiling (amounts) corresponding to the short-term financial requirements of their enterprises. Following the signing ceremony, Nevine Gamea - Head of SFD's Central Sector for Small Enterprise Finance – said the contract is the first to be signed between AIB and the fund. Gamea further stated that SFD’s total financing for small projects had reached 2 billion pounds by the end of 2014, to be beyond the 2014 target of 1.630 billion pounds. This comes in the light of SFD’s expansions into financing several banks and social societies, she noted. More»