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        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        Misr Chemical Industries   5.65        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        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        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

Mohamed Hamdy - 2013-09-21 12:09:24
The National Bank of Egypt (NBE), has obtained EGP 1.1 billion extra-budget debts within the last three years. Yehia Abu El Fotouh, head of non-performing loans department at NBE, said the bank settled EGP 1 billion out of the budget during the current year and will be collected within the current period Abu El Fotouh added that NBE is targeting to downsize the non-performing debts and to make the portfolio up EGP 5 billion by the end of this year, compared to EGP 6.1 billion in FY/12. The latest developments of the NBE's  negotiations with the biggest faltering client of Arcostal Steel company concerning their debts which reaching EGP 1.7 billion. The Company's general Assembly emphasized that it has commissioned tripartite committee to the study the bank's offer that based on completing the restructure of the company and its capitals. More»
Mohamed Hamdy - 2013-09-21 10:31:36
The Central Bank of Egypt (CBE) Governor Hisham Ramez , has attributed the decision of reducing the interest rates and deposits for one night with 50 basis points (bps) for each one to CBE's Monetary Policy in order to become 8.75%, 9.75% and 9.25% respectively, as well as reducing the price of credit and debit by 50% points to be at 9.25% during the last Thursday meeting 19/9/2013. The annual inflation rate declined this year to 9.75% in August and since CBE rhetoric and bond market movements lead us to anticipate further easing of monetary policy in compared to 10.28% in July which led to reducing the annual rate of inflation to 8.97%. CBE's report has explained that the total Gross Domestic Product (GDP) reached 2.3% within the first nine months starting from 12/2013, compared to 2.2% in 11/2012 . Moreover, in the light of GDP disinflation reduction since 2011, in addition macro risks which currently facing the economy,  CBE's Monetary Policy decided to reduce the interest price. More»
Amwal Al Ghad English - 2013-09-21 08:51:16
Barwa Bank, recently closed a USD125 mnfinancing deal with Topaz Energy and Marine (“Topaz”), one of the leading global offshore supportvessel companies, to finance 12 vessels operated in the Arabian Gulf and the Caspian Sea. The deal is considered to be a precedent for Barwa Bank given the uniqueness of the asset class and strategic importance of the industry. The facility comprises a USD110 mnIjarah to finance ten existing vessels and a USD15 mnIstisn’a to finance two newly built vessels. The vessels are offshore support vesselsused to provide special services to oil platforms. Mr. Steve Troop, CEO, Barwa Bank Group commented on the deal, “The oil and gas services industry is experiencing robust growth and Barwa Bank is proud to support Topaz in catering to this booming sector.The selection of Barwa Bank for this deal is an important achievement for us financially and strategically as we strive to enhance the positioning of Barwa Bank as a strategic choice for major local, regional and international companies.” Mr. René Kofod-Olsen, CEO of Topaz said in a statement, “I’m pleased with Barwa Bank’s support on this deal. We believe this facilityis testament to the confidence the bank has in Topaz, which is underpinned by the Company’s track record of performance and corporate governance, as well as its prospects for future growth. Topaz’s steady cash-flows, earnings visibility and strong balance sheet makes it an attractive and secure financing client and we look forward to further developing this partnership with Barwa Bank.” Topaz is a pioneer in its industry with a solid track record, and Barwa Bank looks forward to partnering withTopaz to support further expansion. Capitalising on its strong financial situation and innovative suite of products and services, Barwa Bank will continue to work closely with energy and energy-related sectors to achieve its vision of becoming a universal banking group with its roots in Qatar. More»
Ahmed Ali - 2013-09-19 14:59:14
Hisham Ramez, Governor of Central Bank of Egypt (CBE), asserted on Thursday that the CBE safeguards the rights of the employees working in the National Bank of Oman following the latter’s official request to exit the Egyptian Market. Dr. Ramez stated that the National Bank of Oman (NBO) met yesterday with the central bank discussing the Omani bank’s plans to exit the Egyptian market. The meeting has been attended by the CBE’s governor along with his deputy Mr. Gamal Negm as well as the NBO’s regional Director Abdel Aziz Al-Mehrezi. “No Bank shall cease its transactions, except upon prior approval from the Board of Directors of the Central Bank as pursuant to Article 42 of Law No. 88/2003 of the Central Bank, the Banking Sector and Money,.” Amwal Al Ghad quoted Dr. Ramez as saying on Thursday Such an approval to ceasing the transactions shall be issued after verification that the bank has submitted adequate guarantees, or has finally cleared all obligations toward depositors, other debtors and the staff rights, according to the conditions and procedures to be issued by a decision of the Central Bank, the CBE governor noted. More»
Amwal Al Ghad English - 2013-09-19 14:01:44
Egypt has returned to Qatar $2 billion that the Gulf state had deposited with Egypt's central bank (CBE), after negotiations to convert the funds into three-year bonds broke down, central bank Governor Hisham Ramez said on Thursday. Qatar had sent Egypt $3 billion in May, of which it converted $1 billion into three-year bonds. Ramez said the Qatari authorities had agreed the week before last to convert the entire remaining $2 billion but then changed their minds. "So we just repaid the deposit," he said. On July 1, Egypt converted the $1 billion into three-year bonds at 3.5 percent interest and in May it converted another $2.5 billion of Qatari loans into 18-month bonds at 4.25 percent interest. The bonds were listed on the Irish stock exchange. Cairo's relations with Qatar deteriorated after the Egyptian army deposed President Mohamed Morsi on July 3. Qatar had been a firm backer of Morsi's Muslim Brotherhood and lent or gave Egypt $7.5 billion during the year he was in power. More»