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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        Misr Chemical Industries   5.65        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        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        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

Mohamed Hamdy - 2013-04-23 12:27:47
The securities portfolio held by local banks registered a retreat of 1% (EGP 6.256 billion) for the first time in the last two years, registering EGP 606.4 billion at the end of last January, compared to EGP 612.7 billion at the end of December 2012. According to the recent report released by the Central Bank of Egypt (CBE), the public-business sector accounted for EGP 688 million of the portfolio, compared to EGP 704 million at the end of 2012, registering a retreat of EGP 16 million. The private-business sector’s investments fell 0.6% (EGP 450 million) to reach EGP 40.7 billion at the end of last January, down from EGP 41.03 billion at the end of December, 2012. Foreign investments registered EGP 21.8 billion at the end of last January, compared to EGP 20.6 billion at the end of 2012. The report reveals that the volume of local-currency investments rose 2% (EGP 11 billion) to reach EGP 528.7 billion at the end of last January, compared to EGP 539.7 billion at the end of last year. Foreign-currency investments reached EGP 77.7 billion at the end of last January, compared to EGP 73 billion at the end of 2012, registering an increase of 6.5% (EGP 4.7 billion). More»
Abd Elhalem Elgendy - 2013-04-23 12:01:25
The National Bank of Egypt (NBE), Al Baraka Bank of Egypt and Arab African International Bank (AAIB) will turn down the offer presented by Ayoub Adly Ayoub to settle the bad debts of Rami Lakah, chairman of the Holding Company for Financial Investment (Lakah Group), as a lump sum in return for some real estate assets, sources said. The real estate and tourism sectors are the most affected sectors by the turmoil that followed 2011’s revolution; therefore, banks are wary of settling debts in return for real estate or tourism sectors as they will face difficulty in liquidating them in the current period, sources elaborated. Ayoub presented a new debt settlement scheme offering NBE some units at Stella Heliopolis and Stella Heights North Coast in exchange for writing-off Lakah’s debt which is EGP 230 million. NBE approved Ayoub’s request to pay the fourth installment which is worth EGP 12 million in this April because of the recession that hit the real estate and tourism sectors. NBE signed three years ago an agreement on behalf of AAIB and Al Baraka Bank of Egypt to settle the bad debt of Lakah which is worth EGP 260 million; of which US$ 9 million are paid and EGP 50.4 million are installed on annual payments. More»
Mohamed Hamdy - 2013-04-23 09:52:19
After approving to raise its capital to EGP 1.5 billion, the Egyptian Chemical Industries Company (KIMA) is asked again by the five lenders to convert its capital from local to foreign currency, creating a new obstacle to secure the US$ 423 million loan. KIMA plans to get a loan from the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB), Arab African International Bank (AAIB) and Banque Du Caire to finance its new factory in Aswan which requires investment cost of US$ 787 million. A source at one the banks said KIMA met with the loan arrangers last week to agree on the finance, but the banks conditioned on the company to covert its capital to foreign currency in order to bear the increase in the dollar’s price against the Egyptian pound, but the company refused this condition. Banks will not be able to bear extra burdens amid the current dollar shortage crisis as they are focusing their resources to import the country’s basic goods, the source explained. The loan arrangers have agreed on their contributions to the loan as follows: NBE (US$ 90 million), Banque Misr (US$ 90 million), CIB (US$ 90 million), AAIB (US$ 90 million) and Banque Du Caire (US$ 63 million). More»
Mohamed Hamdy - 2013-04-23 09:06:34
Banque Du Caire has given initial approval to the National Bank of Egypt (NBE) and Misr Iran Development Bank to contribute from EGP 100 million to EGP 120 million to the EGP 520 million loan arranged for El Marakby for Metallic Industries as the definitive loan agreement will be signed next month. The loan will be used to finance the establishment of a pellet factory in Sixth of October City. The investment cost of the project is valued at EGP 800 million. The productive capacity of the project will be 350,000 tons annually which will be used in El Marakby’s factories. Banque Du Caire’s board of directors will meet next Thursday to make their final decision whether to contribute to the loan or not, said Ayman Mokhtar, head of corporate credit sector at the bank. NBE plans to contribute from EGP 200 million to EGP 250 million to the loan, while Misr Iran Development Bank decided to contribute EGP 100 million to the loan. It is noteworthy that the Egyptian Gulf Bank and Arab Investment Bank consider to contribute to the loan. More»
Moustafa Adel - 2013-04-22 14:14:30
The Egyptian Ministry of Finance sold 7-year treasury bonds worth EGP 500 million on Monday. The yields on the T-bonds ranged from 15.24% to 5.500%, while the average return registered 15.428%. The Ministry decided to advance an auction to sell 182- and 364-day T-bills worth EGP 7 billion to Wednesday instead of Thursday which is an official holiday on the occasion of Sinai Liberation Day. More»