amwalalghad :: Banks

Your English Portal To Arab Economy

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        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        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        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 - 2013-11-07 08:03:36
Egypt’s deputy prime minister is visiting the United States, where he met with World Bank officials. Bassem Sabry recently sat down for a discussion with Hartwig Schafer, the World Bank’s country director for Egypt, Djibouti and Yemen. Sabry: What do you think are the questions that are missing from the discussion on Egypt right now? Schafer: I think the question is, what is the priority right now for Egypt? If we go back two and a half years, the revolution was basically the result of growing exclusion and inequality. And that is still, in my view, the top priority. When you look at GDP growing very steadily, then you compare that to the perception of the people and how they felt about their own wellbeing and livelihood, that wedge overtime - between what the macroeconomic numbers told us and how people perceived how well off they were - that wedge was widening. And I think that was a typical recipe for revolution. When people feel they are much worse off than what the economy tells you, then you have a case of stark exclusion and lack of participation in the economic sphere. What you also had was a lack of participation in the political sphere. This is still the case between different income groups, with regards to geographic distribution in Egypt, and between men and women. So, there are all of these wedges that are widening. What I see as a top priority is the bridging of these gaps, to make the wedges go away. This is what I've put my effort into with my team over the last year, through labour intensive projects that have a strong focus on Upper Egypt. They are what we call “employment opportunities,” for 6 months, they’re not lifetime jobs. More»
Sayed Badr - 2013-11-06 14:07:31
Egyptian Banks Company (EBC) is considering the establishment of the Cheques Clearing House (CCH) System for the cheques dominated in foreign currency before the end of the current year, Amwal Al Ghad quoted EBC’s Managing Director as saying on Tuesday. On the sidelines of a symposium held by the Egyptian Credit & Risk Association (ECRA), Mr. Mohamed Bayoumi – the Managing Director at EBC – stated that his firm is seeking to introduce more up-to-date technological applications for the e-payment systems. Egyptian Banks Company (EBC) was established in 1995 with the approval of the Central Bank of Egypt and the Ministry of Finance (MOF). EBC is a bank-owned organization, established to provide a shared facility and to connect all banks providing services in Egypt. Thus, its strategy and role are dictated by the banking sector requirements to serve the ultimate beneficially, mass retail clients.EBC introduced the National Debit Card Brand (123) in 1997, to be accepted throughout the national ATM and Points of Sale networks. EBC also succeeded to expand its acceptance regionally to Qatar, Bahrain and Sudan networks. EBC continues to innovate as it has assumed the role of the national Automated Clearing House (ACH), as part of the Central Bank of Egypt reforming policy, to introduce new electronic payment instrument for regular paper payments such as: utility bill, loan installments, payroll, pensions, taxes,… etc. using direct debit and credit transactions. More»
Mohamed Hamdy - 2013-11-06 09:54:24
The Central Bank of Egypt (CBE) has offered today its second foreign exchange auction for this week totaled US$ 40 million for local banks. The central bank is offering on Thursday its 122 nd FX Auction since application and the 104th  since Hesham Ramez hold the office as the CBE’s Governor last February. Hence, the CBE has pumped US$5.340billion through its periodic FX Auctions on Mondays, Wednesdays and Thursdays, in addition, 2.7 billion through the non-periodic FX Auction , issued last April and May as well as the current September. The central bank has offered its last US Dollar FX Auction at the end of the last week worth $40 million , in which the banks have covered $38.8 million, US $ dollar price closed at EGP 6.88. The central bank announced that the foreign exchange reserves hit US$ 18.709 billion by the end of last September, against US$ 18.916 billion by the end of last August, down US$ 207 million. More»
Amwal Al Ghad English - 2013-11-06 09:14:46
HSBC Holdings Plc (HSBA) dropped out of talks to settle a European Union antitrust probe into rigging of Euribor lending rates, according to a person familiar with the investigation, as regulators prepare to hand out fines to settling banks as soon as next month. HSBC, Europe’s biggest lender by value, pulled out of the negotiations because the discussions stumbled over the possible size of a fine and liability issues, according to a second person who, like the first person, asked not be named because the talks are confidential. Barclays Plc (BARC), Credit Agricole SA (ACA), Deutsche Bank AG (DBK), JPMorgan Chase & Co. (JPM), Royal Bank of Scotland Group Plc and Societe Generale SA (GLE) also entered into settlement talks with the European Commission, and at least one of those may have also pulled out of the discussions, the person said. Regulators around the world are investigating whether more than a dozen firms, including Deutsche Bank, colluded to rig various benchmark interest rates to mask their true cost of borrowing. By refusing to settle with the commission in the Euribor probe, banks are giving up the chance of a 10 percent discount in fines in return for admitting that they colluded to manipulate benchmarks. More»
Amwal Al Ghad English - 2013-11-06 07:47:53
Egyptian business activity shrank for the 13th month in a row in October but at a much slower rate, suggesting the economy may be improving after months of renewed political turmoil, a survey showed on Tuesday. Most of Egypt has been under nighttime curfew since mid-August, when security forces broke up sit-ins of supporters of President Mohamed Morsi, deposed by the army on July 3 following mass protests against his rule. Hundreds of people have died in clashes between security forces and Morsi supporters. The seasonally adjusted HSBC Egypt Purchasing Managers Index (PMI) for the non-oil private sector rose to 49.5 points in October, up from 44.7 points in September and moving closer to the 50 mark separating growth from contraction. October’s reading marked the slowest contraction since Egyptian business activity began to worsen in October last year, according to the survey of around 350 private sector firms. “It’s the first encouraging reading in a year... The stabilization is happening at a low level, though," Simon Williams, chief Middle East economist at HSBC, said in an accompanying statement. “It will take a long run of month-on-month gains before the losses of the past year will have been reversed. In the meantime, unemployment will remain high and gains in activity will remain contingent on recent relative political calm being maintained.” More»