amwalalghad :: Banks

Your English Portal To Arab Economy

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        Canal Shipping Agencies   7.39        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        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        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 - 2016-10-20 13:05:23
The European Bank for Reconstruction and Development (EBRD) approved to grant Egypt-based oil services company Maridive and Oil Services a $50 million medium-term credit facility, the Egyptian firm announced Thursday. This financing deal is part of a joint loan granted by local and regional banks in January 2016, Maridive added in a bourse filling. The Egyptian company signed earlier a credit facility agreement worth $225 million with Abu Dhabi Islamic Bank (ADIB). Maridive has allocated $25 million for expansions, including the purchase of navy units, and directed $10 million for working capital finance. More»
Amwal Al Ghad English - 2016-10-20 11:28:04
Egypt’s central bank is offering Thursday, in coordination with Ministry of Finance, treasury bonds totalling 11.5 billion Egyptian pounds ($1.3 billion), aimed to fill the country’s budget deficit. The central bank said it would raise two treasury bonds; the first is worth 5.5 billion pounds, to mature in 182 days. The second is at value of 6 billion pounds, to mature in 357 days. Ministry of Finance has estimated the country’s total budget deficit at 319.46 billion pounds for the financial year 2016-2017. More»
Amwal Al Ghad English - 2016-10-20 07:50:06
The National Bank of Egypt (NBE) decided to reduce the foreign exchange cash limit provided to travelling customers. The bank decided that branch managers will provide only $300 (or its equivalent) to travelling customers, instead of $500. In addition, the general manager of the area a particular branch belongs to can provide only $500 (or its equivalent) to travelling customers, instead of $1,000. The bank provides cash for foreign exchange only on condition of reviewing its customers’ travel documents for hajj, umrah, or any other purpose, 48 hours before travelling so as to secure the required cash in foreign currency. Previously, the bank had required that it be informed via a phone call about the date and destination of travel, so that the travelling customers can use their banking card abroad. On Monday, the NBE lowered the monthly withdrawal cap for debit cards abroad by 50%, to the equivalent of approximately EGP 2,500, compared to the equivalent of approximately EGP 5,000 prior. It also reduced the purchasing limit through cards to EGP 5,000 instead of EGP 10,000. The bank also cut the purchasing limit through platinum cards by 40%, to the equivalent of EGP 15,000 monthly, compared to EGP 25,000. More»
Amwal Al Ghad English - 2016-10-19 11:06:40
Fitch Ratings has affirmed on Tuesday the Long-Term Issuer Default Ratings (IDRs) of National Bank of Egypt (NBE) and Egypt-based Commercial International Bank (CIB) at 'B'. The Outlooks are stable. Fitch has also affirmed Credit Agricole Egypt's (CAE) Support Rating at '4' and its National Long- and Short-Term Ratings at 'AA+(egy)' and 'F1+(egy)', respectively. The Long-Term IDR of National Bank of Egypt (UK) Ltd (NBEUK), a wholly owned subsidiary of NBE, has been affirmed at 'B' with Stable Outlook and its Support Rating has been affirmed at '4'. The 'B(EXP)' expected rating assigned to NBE's proposed US dollar senior unsecured bond issuance, via its Cayman Islands-based SPV Nile Finance Limited, has been withdrawn as this issuance is not expected to proceed. More»
Amwal Al Ghad English - 2016-10-19 09:38:08
Deutsche Bank has moved to quash speculation that the beleaguered European firm may seek to wind-down its investment banking operations in the U.S., with one prominent figure at the bank telling CNBC that it was positioned for a long future in the country. "We're all in a long-term game", Alasdair Warren, Deutsche Bank's head of corporate and investment banking (CIB) EMEA, told CNBC Wednesday. Addressing the importance of following a coherent cross-border strategy, Warren clarified that the U.S. CIB division formed an inseparable component of the German bank's offering. "We have built over the last fifteen, twenty years a global franchise and if you're going to be globally relevant you have to have a meaningful presence in the U.S. in the same way you've got to have a meaningful presence in Europe - which we clearly have - and a meaningful presence in Asia," he posited. "That will continue," Warren confirmed. The clear statement follows reports from earlier this week suggesting Germany's largest lender was strongly considering shrinking its U.S. CIB unit to offset the high level of capital required to cover rising legal costs. Chief Executive Officer, John Cryan, has told investors he does not intend to pursue a capital raise and that he believes the $14 billion payment requested from the U.S. Department of Justice during September will be whittled down. This as cost cutting measures, including a hard-hitting series of job cuts and a broad restructuring of the business, continue apace. Warren also addressed fears of a vicious spiral revving up in which capital concerns would cause both talent and clients to abandon the bank, saying employees across the sector would need to adapt to a new reality that would be different but offer a recalibrated set of draws. According to Warren, "It's not a Deutsche Bank issue but across the whole industry, it has to be much broader than just compensation, it's got to be all about the opportunity to develop, the opportunity to really broaden your skills and really be able to take a longer-term view around that, and that's where we've been focusing a lot." "Compensation dollars or euros at any bank this year with volumes being down are going to be a challenge," he warned. Turning to clients, the senior Deutsche Bank executive emphasized that the message he had repetitively heard from clients in his last few months of intense client conversations, was that they consider it essential to have a strong global European bank, particularly within Europe. Warren said, "Global multinational corporations want to have a choice of advisory services that they can solicit from a range of banks." "They need a credible alternative to what is becoming an increasingly U.S. field." And while acknowledging that U.S. banks are doing relatively better at the moment, Warren cautioned on the potential for an industry shake-up in the post-Brexit landscape. "There are definitely incremental challenges of being a European headquartered bank relative to being an North American headquartered bank but let's not forget that when ultimately Article 50 gets exercised there's also going to be some important shifts as it relates to North American banks that are currently substantially headquartered in London and passported into Europe." "So I think there's going to be challenges more broadly." Warren concluded by sounding an optimistic tone on the takeaways from his ramped up client meeting schedule of recent months, and spoke of his confidence that the bank's clients would stay with them through the troubles. "All clients would like any bank to be out of the headlines … That being said they've been very keen on continuing to work with us, they want to see a strong Deutsche Bank," he told CNBC. More»