amwalalghad :: Banks

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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        Universal For Paper and Packag   4.94        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        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        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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 - 2016-05-21 10:56:13
The European Investment Bank (EIB) wants to make more loans outside the 28-nation European Union to help tackle the migration crisis and will present plans to European Union leaders at their next meeting in June, its president said in an interview on Friday. Werner Hoyer cited rules that say the bank must lend 90 percent of its funds within the EU but said the EIB could double its loans outside the bloc, expected to be 17.5 billion euros ($20 billion) under its existing mandate over the next 5 years. "Short-term humanitarian interventions are urgent but they do not address the causes of forced displacement and the need to build economic resilience in these countries," he told Reuters, referring to more than million people entering Europe last year. "We have to ensure continuity and equally strengthen basic services and social infrastructure in countries of origin, transit and host countries," he said. The EIB's non-EU loans amount to about 36 billion euros for various projects in countries in the Middle East, North Africa, Turkey and the Western Balkans. Flagship projects include cash for a water system in Jordan, money for small companies in Turkey, investment in information technology in Egypt that developed e-learning tools for Syrian refugees in a Lebanese camp and a microfund for women in Jordan. "It is clear that more medium and long term measures are needed to strengthen the international community’s response to the current crisis of forced displacement, as well as the wider global challenge of migration," Hoyer said. The bank said separately in a statement that it "could substantially do more, stepping-up its financing provided the required conditions are in place, notably availability of guarantee and grant support". More»
Amwal Al Ghad English - 2016-05-19 16:51:00
Attijariwafa Bank, Morocco’s biggest lender, is working with UBS Group AG on a potential bid for Barclays Plc’s Egyptian business, people familiar with the matter told Bloomberg on Thursday. The U.K. bank has received limited interest for the business after reaching out to Gulf-based banks, two of the people said, asking not to be identified as the information is private. The British bank has yet to receive any non-binding offers, they said. Chief Executive Officer Jes Staley, seeking to focus on the most profitable businesses in the U.K. and the U.S., is weighing whether to keep emerging-market businesses amid concerns over slowing economic growth. Barclays sold about one-fifth of its stake in Johannesburg-based Barclays Africa Group Ltd. in the market earlier this month as part of Staley’s plan to retreat from the continent and raise cash, leaving it with 50.1 percent. The Egyptian business, which dates back to 1864 and is focused on retail banking, could be worth more than $500 million, a person familiar with knowledge of the plan said in February. The unit employs 1,500 people and has 56 branches in cities including Cairo, Giza and Alexandria, according to its website. Attijariwafa is drawing up plans to expand into East Africa, with a focus on Kenya and Ethiopia, and is also very keen on Nigeria and Ghana in West Africa, Chief Executive Officer Mohamed El Kettani said in February, adding that the bank has had no contact with Barclays over its Egyptian unit. The lender operates in at least 23 countries including Tunisia, Niger, Gabon and Cameroon, as well as France, Germany and Italy in Europe. A spokesman at UBS declined to comment, while a spokesman for Barclays couldn’t immediately comment. A spokeswoman for Attijariwafa wasn’t immediately able to comment. More»
Amwal Al Ghad English - 2016-05-19 14:04:06
Egyptian President Abdel Fattah al-Sisi has endorsed a loan agreement signed months earlier between Cairo and Moscow to build Egypt’s first nuclear power plant. Russia will loan Egypt $25 billion to finance building and operating a nuclear power plant in Egypt. On November 19, Cairo and Moscow signed an agreement for Russia to build Egypt's first nuclear power plant and to extend Egypt a loan to cover the cost of construction. The loan will be paid off over 35 years, with an interest rate of 3 percent annually, according to the country's official gazette. Installment payments will begin on Oct. 15, 2029. "The loan will be used by the Egyptian side for a period of 13 years between 2016-2028 ... the Egyptian side will repay loan amounts used over 22 years in 43 installments," the gazette said. The loan will finance 85 percent of the value of each contract for the work, services and equipment shipping, the gazette said. Egypt will finance the remaining 15 percent. The plant will be built in Dabaa, a site in the north of the country that Egypt has been considering for a nuclear power plant on and off since the 1980s. It is due to be completed in 20022, and the first of its four reactors is expected to begin producing power in 2024. Egypt, with a population of 90 million and vast energy requirements, is seeking to diversify its energy sources. As well as a nuclear plant, Sisi has talked of building solar and wind energy facilities in the coming three years to generate around 4,300 megawatts of power. The country also recently discovered a large reserve of natural gas off the Mediterranean coast. More»
Amwal Al Ghad English - 2016-05-19 08:07:01
Federal Reserve officials felt the U.S. economy could be ready for another interest rate increase in June, according to the minutes from the central bank's April policy meeting released on Wednesday. Most participants in the policy-setting committee's April 26-27 meeting said they wanted to see signs that economic growth was picking up in the second quarter and that employment and inflation were firming, the minutes showed. "Then it likely would be appropriate for the committee to increase the target range for the federal funds rate in June," according to the minutes. The suggestion that a rate increase in June is firmly on the table suggests the Fed is closer to tightening monetary policy again than Wall Street had expected. The Fed lifted rates in December for the first time in nearly a decade. Prices for futures contracts on the Fed's benchmark overnight lending rate implied that investors saw a 34 percent chance of a rate increase next month, up from 19 percent shortly before the release of the minutes, according to CME Group. U.S. stocks fell and the dollar .DXY extended gains against a basket of currencies after the minutes were released. Treasury yields rose, with the yield on 30-year U.S. government debt rising to a two-week high. "They are ready to pull the trigger on a rate increase in June," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. ROBUST JOB GROWTH Recent data has made policymakers more confident that inflation is rising toward the Fed's 2 percent target and they also expressed fewer concerns about a global economic slowdown, according to the minutes. Some policymakers at the meeting were worried about a slowdown in U.S. economic growth during the first quarter, when gross domestic product expanded at an annual rate of 0.5 percent, a two-year low. But others argued that ongoing robust job growth suggested the economy had not gone off the track and that the growth data could be flawed. "Most pointed to the steady improvement in the labor market as an indicator that the underlying pace of economic activity had likely not deteriorated," according to the minutes. Data since the end of April has pointed to a pickup in consumer spending and manufacturing output, bolstering the view that economic growth was accelerating after stalling in the first quarter. Several Fed officials in recent weeks have stressed that a rate increase might be warranted in June. Some policymakers at the April meeting said they were concerned financial markets could be roiled by a possible British exit from the European Union in a vote next month or by China's exchange rate policies. The Fed last month kept its target overnight interest rate in a range of 0.25 percent to 0.50 percent. A global equities sell-off and the tightening of financial markets earlier this year largely due to concerns of a slowdown in China prompted the Fed in March to dial back rate increase expectations for the year. Even so, the Fed signaled at that time that it would likely lift rates twice this year. Investors have been betting on just one hike. More»
Ahmed Ali, Mohamed Hamdy & Sayed Badr - 2016-05-18 10:48:31
The Islamic Development Bank (IDB) is planning to inaugurate its representation office in Egypt within the current year, an official in the bank’s private sector arm announced Tuesday. The bank is in the final stage of establishing its representation office in Egypt, Nazih Al-Nasser, director of asset management and advisory activities of Islamic Corporation for the Development of the Private Sector (ICD), a part of the IDB added. The office will strengthen cooperation portfolio between the bank and Egypt. Al-Nasser made his remarks in Cairo on Tuesday during a conference organised by the Egyptian Banking Institute, designated to focus on the role of the small and medium-sized enterprises (SMEs). Founded in 1975, IDB’s present membership of the IDB consists of 56 countries. IDB’s current portfolio in Egypt consists of 19 projects totalling $2.3 billion. Egypt is seventh biggest shareholder in the bank, with a 7.08 percent share. More»