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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        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        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        Universal For Paper and Packag   4.94        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        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        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        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        

Business - Banks

Amwal Al Ghad English - 2014-09-15 10:24:42
Global Finance, the prestigious international financial magazine, has ranked NBAD in its World’s 50 Safest Banksfor the sixth consecutive year.  This year, NBAD ranks 25th in the world’s 50 safest banks, up 10 positions from the number 35 spot in the previous year. In addition NBAD remains the safest bank in the Middle East and Emerging Markets. Global Finance’sannual ranking of theWorld’s 50 Safest Banks is a recognised and trusted standard of creditworthiness for the entire financial world. “We are very proud to once again be listed among the World’s 50 Safest Banks and the Safest in the Emerging Markets and Middle East, especially as we have moved up 10 positions to 25th in the rankings during a period of significant change and increasing regulation,” said Alex Thursby, the Group Chief Executive Officer of NBAD. “This recognition reflects the successful execution of our strategy and our continuous focus on safety. NBAD’s strong credit ratings combined with the Bank’s ranking amongst the World’s 50 Safest Banks willserve us well as we execute our strategic growth objectives across the West-East Corridor.” Mr. Thursby said. Global Finance selects banks for this list through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s, and Fitch—and total assets of the 500 largest banks worldwide. More»
Ahmed Ali - 2014-09-15 09:35:37
Central Bank of Egypt (CBE) Governor Hisham Ramez said the proceeds from selling the new Suez Canal investment certificates reached to EGP 9.5 billion yesterday evening. Egypt is aiming EGP 60 billion from these certificates, which will go for financing the digging of the new waterway, in addition to building six new tunnels across the canal in preparation for launching a logistics services and trade zone. Accordingly, the total proceeds from the certificates rose to EGP 49 billion since launching the sale for nationals on Thursday, September 4, Ramez added. More»
Amwal Al Ghad English - 2014-09-15 07:25:04
Egypt's central bank governor Hesham Ramez said that the currently available cash flows are sufficient to repay the Qatari deposit upon maturity next October, AlBorsa newspaper reported. Ramez said that the reports regarding the Egypt's intention to issue dollar bonds to repay were untrue. He added that the central bank does not issue bonds except for project financing and that the cash flows are available to repay $500 million to Qatar in early October. Qatar is expected to ask for $2.5 billion, the rest of the deposit, next November, Ramez revealed. More»
Amwal Al Ghad English - 2014-09-15 06:38:16
Egypt said on Sunday it expected to receive around $425 million in funding from the Islamic Development Bank to develop an oil refinery in Assiut and an airport in the Red Sea resort of Sharm el-Sheikh. The first agreement is for $198 million earmarked for the refinery, a finance ministry statement said. A further $226.8 million (not $8.23 million) will go towards the first phase of the Sharm el-Sheikh airport project, it said. Egypt has requested a further $223.2 million for the second phase of the project. The Islamic Development Bank is an international financial institution that funds development projects in Muslim countries and communities in accordance with Islamic law. Egypt's economy has been in turmoil since the 2011 uprising that ousted Hosni Mubarak. The government is navigating a difficult course as it seeks to cut its deficit, while reviving flagging growth and encouraging investors and tourists spooked by the political upheaval. Gulf Arab states have provided more than $12 billion in cash and petroleum products to prop up Egypt's economy since the ouster of Islamist President Mohammed Mursi a little over a year ago. But the government has introduced painful cuts to energy subsidies as it seeks to curtail spending and shore up finances. The lending will come in the form of a tenancy contract, which is an Islamic funding structure, and will be repaid over 15 years. It will be guaranteed by the finance ministry. The Islamic Development Bank made financing contributions worth about $1.85 billion in Egypt between July 2013 and August 2014, the statement said, adding that Egypt would also seek external sources of funding for other development projects. More»
Sayed Badr - 2014-09-14 14:46:05
Egypt is likely to receive financial assistance worth €700 million from the European Union within this autumn, an Egyptian official said on Sunday. According to Gamal Bayoumi, Secretary-General of the European Partnership Unit at the International Cooperation Ministry, an expected amount of €700 million will be allocated for bilateral EU assistance to Egypt under the European Neighbourhood and Partnership Instrument (ENPI). The Egyptian official further described to Amwal Al Ghad that the European Commission’s latest statement as ‘ambiguous’ as regards to the EU’s financing plan for Egypt. The EU referred in its statement to nine countries that will benefit from the financing plan; Morocco (900 million euros), Tunisia (246 million euros), Algeria (148 million euros), Libya (44 million euros), Jordan (348 million euros) and Lebanon (159 million euros). Hence, Bayoumi said he held a meeting last Wednesday with Ambassador James Moran - Head of European Union Delegation to Egypt. During the meeting, Moran denied halting the EU financial assistance to Egypt, saying the delay was due to relevant execution arrangements, the Egyptian official noted. More»