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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        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 - 2016-06-18 09:13:30
Egypt's EFG Hermes announced on Thursday that its renewable energy platform, Vortex, had bought a 49 percent stake in an operational 664 MW portfolio of European wind assets from EDP Renovaveis for €550 million ($618.26 million). The deal doubled Vortex's private equity assets under management to $1.1 billion, and took the group's total to $3.5 billion, EFG Hermes said in a statement. A sale and purchase agreement for the transaction was signed in April 2016 between EFG Hermes' private equity arm and EDP Renovaveis, and includes a portfolio of 23 wind farms in Portugal, Spain, France and Belgium. "The successful close of this landmark deal provides EFG Hermes' private equity division with considerable traction in Europe's renewable energy space, a key pillar of EFG Hermes' regional and global expansion strategy," said EFG Hermes Chief Executive Officer Karim Awad in the statement. The acquisition increases Vortex's net installed capacity to 457 MW across Western Europe, rising from 132 MW of net installed capacity as of late 2014, when Vortex had acquired a 49 percent equity stake in EDPR France in a $208 million transaction. The investment bank said on Sunday it planned to distribute 1.08 billion Egyptian pounds ($122 million) to shareholders and step up its growth strategy after selling a 40 percent stake in Lebanese lender Credit Libanais. More»
Amwal Al Ghad English - 2016-06-18 08:49:38
HSBC Holdings Plc (HSBA.L) will pay $35 million to end private U.S. antitrust litigation claiming that it harmed investors by conspiring with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates. Papers outlining the preliminary settlement were filed on Friday in the U.S. District Court in Manhattan. Court approval is required. The accord came 4-1/2 months after Citigroup Inc (C.N) reached a similar $23 million settlement, in what lawyers for the plaintiff investors called an "ice breaker" that might spur some of the roughly 20 other bank defendants to settle. An HSBC spokesman did not immediately respond to requests for comment. Investors including the California State Teachers' Retirement System and J. Kyle Bass' hedge fund Hayman Capital Management LP accused banks of conspiring to rig yen Libor, Euroyen Tibor and Euroyen Tibor futures contracts to benefit their own trading positions from 2006 through at least 2010. Other named defendants include Japanese banks such as Mitsubishi UFJ Financial Group Inc (8306.T) and Sumitomo Mitsui Trust Holdings Inc (8309.T), as well as Barclays Plc (BARC.L), Deutsche Bank AG (DBKGn.DE), JPMorgan Chase & Co (JPM.N) and UBS AG (UBSG.S). Banks use the London Interbank Offered Rate (Libor) and Tokyo Interbank Offered Rate (Tibor) to set costs of borrowing from each other. Libor is often used to set rates on such things as credit cards and mortgages. The Manhattan federal court is home to many lawsuits in which investors have accused banks of conspiring to rig rates or prices in various financial and commodities markets. Rate rigging has led to billions of dollars of regulatory fines against banks worldwide. More»
Amwal Al Ghad English - 2016-06-16 13:10:53
Egyptian President Abdel Fattah al-Sisi endorsed on Thursday the country’s $190 million loan agreement with the European Bank for Reconstruction and Development (EBRD). Signed earlier on March 31, 2014, the EBRD's loan agreement is designated to finance the upgrade of Shabab and the West Damietta power plants. The two power stations will be converted to operate with a combined-cycle system in a bid to increase energy production capacity to 2,250 MW. Two steam turbines will be attached to the Shabab plant and one steam turbine will be attached to the West Damietta plate. The turbines, which each have a 250MW capacity, will operate through energy recovery boilers. The Shabab plant is comprised of eight gas units, with a capacity of 125 MW each, and four steam units with a total capacity of 500 MW. The west Damietta plant is comprised of four gas units, also with a capacity of 125 MW each, and steam units with a total capacity of 250 MW. More»
Amwal Al Ghad English - 2016-06-16 10:56:50
China stocks fell on Thursday as investors turned their focus back to the struggling economy after a brief bargain hunting spree in the previous session. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.7 percent, to 3,094.67, while the Shanghai Composite Index lost 0.5 percent, to 2,872.82 points. UBS strategist Lu Wenjie said fears of further weakness in the yuan were also discouraging investors. On Wednesday, the yuan briefly hit a more than five-year low against the dollar as the greenback firmed amid growing fears that Britain may vote to leave the European Union in the June 23 referendum. Most sectors, including infrastructure and financials fell. Bucking the trend, resources shares rose on news that China will strictly control newly added production capacity, and accelerate a reduction of overcapacity in the non-ferrous metals sector. More»
Amwal Al Ghad English - 2016-06-16 10:16:26
The Russian government "wants some cash for its budget" and that is why it is planning to sell some of its stake in VTB Bank, Chief Executive Andrey Kostin told CNBC on Thursday. Currently the Russian government is the main shareholder in VTB, owning 60.9 percent of voting shares. VTB is Russia's second-largest bank by assets and was the subject of a $5 billion of state recapitalisation program last July, implemented as part of a wider state plan to help stimulate lending amid a wide economic slowdown. Speaking from the St. Petersburg International Economic Forum in Russia, Kostin said the privatisation would probably take place in 2017 rather than this year. "It is very difficult to sell stocks nowadays because of sanctions," he told CNBC. VTB is one of several Russian companies and individuals sanctioned by the West after Moscow's annexation of Crimea and its involvement in separatist rebels in eastern Ukraine. The European Union will vote on whether to renew sanctions next month. Kostin said he hoped they could be "released" or eased. Those sanctions remain in place and the European Union has said that it is ready to reverse them once Russia "starts contributing actively and without ambiguities to finding a solution to the Ukrainian crisis." The Russian economy is set to shrink this year, but by less than in 2015 — the International Monetary Fund forecasts a contraction of 1.8 percent in 2016, versus 3.7 percent last year. The country is grappling with a spiralling budget deficit and government departments have been told to cut spending by 10 percent this year, according to media reports. In May, Russian Finance Minister Anton Siluanov said the deficit would come in at 3 percent of gross domestic product (GDP) in 2016, assuming oil prices averaged $40 per barrel, according to media reports. In 2015, Russia reported a deficit of 2.6 percent. More»