amwalalghad :: Banks

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        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 - 2014-10-20 13:36:21
Mashreq Bank – Egypt launched today a new SME Current Account to address the needs of small and medium-sized business customers, as individuals or as businesses. Through three various business account solutions, the new account provides interest rates calculated daily on the average balance of the account, to reach 6% annually in addition to discounts on the banking transactions. In a statement issued by the bank on Monday, Mashreq said the new current account service is the first of its kind to be provided in Egypt. The bank offers business account across three tiers; namely Business Value Account, Business Premium Account and Business Platinum Account. On this occasion, Pankaj Kundra - Head of Retail at Mashreq Egypt – said the bank mainly aims for providing an added value to the business owners through their transactions at Mashreq Egypt. The bank is presenting one of the best and highest-interest accounts for the business owners in Egypt’s market, alongside offering a discount on the banking transactions in general, he added. “We are offering them (business owners) the suitable account regardless the type of project.” Kundra noted More»
Amwal Al Ghad English - 2014-10-20 08:09:16
Moody's investors service changed on Monday Egypt's outloom to stable from negative and affirmed its Caa1 government bond rating. The outlook change was driven by the stabilised political and security situation, the launch of government initiatives toward fiscal consolidation, signs of a growth recovery and an improvement in macroeconomic stability, and strong support from external donors, according to Moody's. Moody's has today also affirmed the Aaa rating of Egypt's backed global bond. Egypt's B3 foreign-currency bond ceiling, Caa2 foreign-currency deposit ceiling and Ba3 local-currency country risk ceilings are unaffected by today's rating affirmation. The short-term country ceilings for foreign-currency bonds and deposits remain unaffected at Not-Prime (NP). More»
Sara Emam & Islam Salah - 2014-10-19 15:55:55
Deutsche Bank intends to allocate $35 million in grants to Egypt within a total of $150 earmarked for Africa, said Sebastian Kahlfeld - senior fund manager at DWS Investments, the bank’s investment arm. The announcement has been made during his meeting with Egyptian Minister of Investment Ashraf Salman in the presence of officials in the General Authority For Investment and Free Zones (GAFI). The meeting addressed the means of mutual cooperation and investment ties between Egypt and the German lender. During the meeting held on Sunday, Salman said the government is seeking to improve business practices. Salman said this was especially in regards to dispute resolution committees and expanding special economic zones. The minister further added that Egypt will focus on an area northwest of the Gulf of Suez. Several petrochemical companies are currently operating in the field of ship repairs, attracting investment. Salman said: “Our vision as a government is to offer a system of special economic zones in an integrated manner with chains of projects in order to attract international companies, maximise the benefit, and increase the rate of capital turnover.” Kahlfeld said Germany is studying new and renewable energy and roads projects as well as the Suez Canal Axis Development project. Salman stressed the importance of cooperation with EU countries and the need to utilise their international experience, especially in the field of facilitating procedures and attracting investment. He also added that Egypt’s special geographic location and mega projects espoused by the economic and social reform programme of the Egyptian government must be taken advantage of. The Egyptian minister also pointed to a set of actions and reforms adopted by the Egyptian government to improve the investment climate in Egypt and attract more Arab and foreign investments, most important of which are legislative reforms that relate to investment laws. “The government seeks to integrate the informal sector into the formal sector and to provide new tools to finance projects, whether they are banking related or not, like the Suez Canal investment certificates,” Salman said. “Government implementation of several initiatives that help stimulate, develop and expand SMEs [small and medium enterprises] depends on the existence of a strong Egyptian banking system.” Salman continued: “Egypt has opportunities to invest in economic sectors with high growth rates, such as construction, energy, roads, and railways, as well as partnership between the private and public sectors in infrastructure, industrial, and service projects.” Salman noted that the government would rely on the private sector more than ever in the coming phase in order to implement the government’s plan for economic growth. He pointed to meetings and frequent visits with local and foreign businessmen to promote investment opportunities in Egypt, explaining procedures, and set the Egyptian government’s plan to achieve growth goals into action. More»
Amwal Al Ghad English - 2014-10-19 12:47:59
The biggest expansion of Egypt’s Suez Canal since it opened in 1869 will boost syndicated loan deals in North Africa’s biggest economy, according to the nation’s largest publicly traded bank. Syndicated lending in Egypt rose 61 percent in the first nine months to $2.9 billion, according to data compiled by Bloomberg, after a $1.4 billion deal on Sept. 30 boosted what was the lowest total since 2003. The market will grow 25 percent next year, Commercial International Bank Egypt SAE (CIB) said in an e-mailed response to questions Oct. 15. Banks are preparing for a surge in lending as the government spends about $8.4 billion digging a second waterway to ease congestion at the canal and develop the area to offer logistic services, said CIB’s Managing Director Hisham Ezz Al Arab. Lenders have relied on high yielding government debt to bolster earnings as demand for corporate credit dried up in the aftermath of the 2011 ouster of President Hosni Mubarak. “We see a recovery in syndicated loans in the second half of 2015 or early 2016, far exceeding” pre-political unrest levels, said Ezz Al Arab, who also serves as chairman of the Federation of Egyptian Banks. “There will be quantum leaps. It’s not only going to impact corporate finance requirements, but also the consumer requirements.” Syndicated loans averaged about $6 billion a year in the five years leading up to the anti-government protests in January 2011, according to data compiled by Bloomberg. That’s about twice the total for each of the last two years. Shares in CIB, which is the country’s biggest listed company and accounts for 30 percent of the benchmark EGX 30 Index, are up 41 percent this year as of 10:24 a.m. in Cairo, giving it a market value of more than 41.4 billion Egyptian pounds ($5.8 billion). More»
Mohamed Hamdy - 2014-10-18 16:16:44
Banque Du Caire grants 2% of its profits for combating the slums phenomena in Egypt under the initiative of Federation of Egyptian Banks (FEB), said CEO Mounir El Zahed. In this respect, the Egyptian banking official stressed the importance of FEB’s initiative, saying the bank’s participation reflected its social responsibility and national duty towards providing a better life for the residents of the slums in Egypt. The national initiative adopted by the Federation of Egyptian banks is directed towards improving informal areas across the country. It is planned to upgrade 15 informal areas nationwide as the first phase. More»