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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        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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 - 2015-06-21 14:23:15
European Council President Donald Tusk Friday sought to play down expectations ahead of an emergency meeting of eurozone leaders, saying the Monday gathering won't be the "final step" in negotiations over Greeece's bailout. "The purpose of the summit is to make sure that we all understand each other's positions and the possible consequences of our decisions. The summit will not be the final step and there will be no detailed technical negotiations," Tusk said in a letter inviting eurozone leaders to the meeting. More»
Sayed Badr - 2015-06-18 11:26:47
The African Development Bank (AfDB)’s board has approved Wednesday a €50.20 million (US$57.3 million) loan for the Egyptian National Drainage programme (NDP). The loan is to boost agricultural production and household income generation. The programme aims to optimise the benefits of irrigation by draining excess irrigation water from agricultural land in order to reduce water logging and soil salinity as well as make more land available for cultivation. Efficient drainage will result in improved soil quality for 125,000 feddans (125,000 acres) covered by the project. This will result in increased crop productivity by 15-21% for selected crops, increased farm income by 40% for a typical one feddan farm, and improved food security and poverty reduction in general. The project will be implemented in five regions of the country: East Delta, Middle Delta, West Delta, Middle Egypt and Upper Egypt. The project components include: (i) Construction and Rehabilitation of Subsurface and Surface Drainage for 125,000 feddans; (ii) Strengthening the capacity of the Egyptian Public Authority for Drainage Projects (EPADP) for Operation and Maintenance; and (iii) Project Coordination and Management. The primary beneficiaries will be the farming households in the project areas. The primary/target beneficiaries will be approximately 125,000 households or 625,000 people, of which 50% are women. Some indirect project beneficiaries include labourers who will benefit from employment on construction of the drainage system. Increased incomes in the project areas will also result in increased off-farm activities where traders and business people will also benefit indirectly. Phases I and II of the NDP were financed by the World Bank, German government-owned development bank (KfW) and the European Investment Bank (EIB). The current third phase of the programme will be financed by the AfDB, Islamic Development Bank (IsDB), KfW and the EU. The project activities for each of the donors are very similar but cover different geographical areas. More»
Amwal Al Ghad EN - 2015-06-18 07:22:31
The State Council’s administrative court has issued a ‘stay of execution of law’ judgement regarding the maximum wage for employees of the banks Banque du Caire, the National Bank of Egypt (NBE), and the United Bank. This judgement may not be the last of its kind, as the administrative court has previously issued a similar judgement for employees at the Housing & Development Bank (HDB) and the Export Development Bank of Egypt‎ (EDBE). There is also a suit before the same court by employees of other banks, on top of which are the Central Bank of Egypt (CBE) and the Arab Investment Bank. According to Ruqaya Fayad, legal consultant to the Federation of Egyptian Banks, the administrative courts’ judgements are final and enforceable upon their rendering. But they may be appealed by the government before the Supreme Administrative Court. She added that the government may request a hurried decision by the administrative court to stay the execution of the Supreme Administrative Court’s decisions. In case of the judgement being in favour of the government, this judgement will be stalled pending a final decision on the case. More»
Sayed Badr - 2015-06-17 18:55:55
The biggest stated-run bank, National Bank of Egypt has agreed to secure US$91 million finances for one the private sector oil firms, a senior source from the bank revealed.The source declined to mention any further details about the name of the firm before the bank would sign the final contracts. NBE is also studying several financing schemes, the source added to Amwal Al Ghad on Wednesday. More»
Amwal Al Ghad English - 2015-06-17 18:26:12
The European Central Bank raised the ceiling on Greece's liquidity assistance from 83 billion to 84.1 billion euros, wire services reported Wednesday citing unnamed sources. Greek banks are currently reliant on a loan program offered by the European Central Bank known as Emergency Liquidity Assistance (ELA). This is designed to provide credit to financial institutions in the euro zone that are solvent but face "temporary liquidity problems." Last week, the ECB increased its ceiling for ELA to Greek banks by 2.3 billion euros ($2.6 billion) to 83 billion euros, in light of Greek savers continuing to pull out their savings. However, the ECB is at liberty to restrict banks' access to the ELA if operations "interfere with the objectives and tasks of the Eurosystem." This decision would be taken by the ECB's Governing Council and would require a majority of two-thirds of the votes cast. ECB President Mario Draghi and his colleagues have insisted that liquidity will be provided to Greek banks as long as they remain solvent. But if Greece fails to repay the 1.6 billion euros it owes to the International Monetary Fund at the end of this month, this could be in jeopardy. In 2013 Cyprus turned to emergency liquidity assistance after the ECB refused to accept the country's sovereign bonds as collateral. Cyprus too faced warnings that the ECB's Governing Council was prepared to reject the continuation of ELA. The country later entered a rescue program and imposed capital controls to restore solvency to its banks. More»