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        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        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 - 2015-01-14 08:38:41
Emirates NBD PJSC (EMIRATES) and Mashreqbank PSC (MASQ), two Dubai-based lenders, are among bidders for Citigroup Inc.’s (C) consumer-banking business in Egypt, according to four people with knowledge of the matter. The two submitted offers in the first round of bidding, the people said, asking not to be identified because the process is private. The value of the bank’s portfolio in the Arab world’s most populous economy may be about $500 million, with a second round of bids to begin shortly, one of the people said. Citigroup, based in New York, is exiting its consumer banking business in 11 countries to focus on markets where it has the greatest scale and growth potential. The bank has said it expects to complete most of those sales this year. Competitors including BNP Paribas SA (BNP) and Societe Generale SA also sold consumer businesses in Egypt to boost returns. Emirates NBD, Dubai’s biggest bank, bought BNP Paribas’ Egypt unit in a $500 million deal in 2013, while Qatar National Bank SAQ acquired SocGen Egypt for $1.97 billion the same year. A spokesman for Citigroup in Dubai declined to comment as did spokesmen for Emirates NBD and Mashreqbank. Egypt’s economic growth is expected to accelerate as political stability returns following the military’s ousting of the Islamists from power almost two years ago and the election of Abdel Fattah al-Sisi as president. North Africa’s biggest economy will grow 3.4 percent this year, according to the average of 10 economist estimates compiled by Bloomberg, compared with 2.2 percent last year. More»
Mohamed Hamdy - 2015-01-12 13:12:43
Egypt’s Social Fund for Development (SFD) secures 40.2 million Egyptian pounds (around US$ 5.6 million) in favour of sub-projects aiming to protect the country’s River Nile. Egyptian Minister of Irrigation Hossam Al Mogazy and Soha Soliman- Secretary General of SFD – have signed Monday an agreement to finance four sub-projects as pursuant to the World Bank-funded Emergency Labor Intensive Investment Project (ELIIP) and the third German debt swap agreement. The four sub-projects are for the River Nile side protection in addition to another project for the canal cleaning and weeds reduction, which will be implemented in five governorates; Giza, Luxor, Beheira, Qalyubia, and Assyout. In this respect, minister Al Moghazy stated that protection of Nile sides sub-projects would be implemented in about 17 km of the river banks, with a total cost of about 37.7 million pounds (around US$5.2 million). Those projects aim to create around 2179 job opportunities, he added. From her part, SFD’s Soha Soliman pointed out that those projects come within the framework of the third German debt swap agreement and World Bank-EU-funded ELIIP. The objectives of the project are to create short-term employment opportunities for unemployed unskilled and semi-skilled workers and to provide access to basic infrastructure services to the target population in poor areas. The Egyptian Social Fund for Development (SFD) was established in 1991 to effectively participate in poverty alleviation and job creation and to ensure development of integrated, participatory and gender - sensitive approached in the provision and management of basic services through participatory approach. More»
Sayed Badr - 2015-01-11 12:14:29
Egypt’s state-owned National Investment Bank (NIB) will contribute 250 million Egyptian pounds (around US$35 million) to the capital of a start-up incubator Ayady. Ayady Company for Investment and Development has been founded, with the aim of offering 500.000 proven job opportunities in the SME sector for Egyptian youth across the country. NIB’s contribution represents 12.5% of the issued capital of the newly-founded Ayady Company for Investment and Development, the bank’s board member Momtaz al-Saeed stated. Speaking to Amwal Al Ghad on Sunday, al-Saeed said the final list of the main shareholders in Ayady Company is not ready yet, referring to ongoing negotiations aiming to receive contributions from more banks. Only Faisal Islamic Bank and Arab Investment Bank (AIB Egypt) had So far confirmed their participation in Ayady’s capital, he noted. In earlier statement to Amwal Al Ghad, Hani Seif El-Nasr - Arab Investment Bank (AIB Egypt)’s Chairman – announced his bank’s initial contribution of up to 5% to Ayady’s capital. On December 16th, Ayady Company for Investment and Development has been launched, seeking to create 500.000 proven job opportunities for Egyptian youth across the country in fields of developmental and small and medium-sized projects. Under the rubric "Let's Work", the company has been founded with an initial capital of 10 billion pounds (US$1.4 billion), of which 20% is a government contribution and 80% is from the private sector. Ayady aims to stimulate local development and boost employment in Egypt's governorates. Following the launch of Ayady, Egyptian Minister of Planning Ashraf Al-Araby pointed out that the new company would provide training, feasibility studies, funding and export opportunities to young entrepreneurs, to act as an "incubator" for nascent projects, with an on-the-ground presence in Egypt's 27 governorates. The Egyptian minister also revealed the stakeholders in Ayady include the National Investment Bank, Arab Investment Bank, Faisal Islamic Bank, Egyptian Awqaf Authority, Long Live Egypt Fund, and Social Fund for Development (SFD), in addition to civil society organisation Misr El Kheir Foundation. Private backers include the Federation of Egyptian Industries (FEI), Egyptian Junior Businessmen Association, and the Federation of Egyptian Chambers of Commerce. More»
Amwal Al Ghad English - 2015-01-11 10:56:43
BEIJING - China's central bank on Friday said it will continue with its prudent monetary policies in 2015 with better coordination of tight and loose monetary measures and proper fine-tuning. The central bank will adapt to China's economic "new normal" of slower growth but higher quality and highlight industrial transformation and restructuring, said the People's Bank of China (PBOC) at a meeting on its work in 2015. More»
Ahmed Ali & Mohamed Hamdy - 2015-01-10 13:58:45
Emirates NBD Bank intends to increase its network of branches to 100 from 70 in Egypt in the coming two years. According to deputy managing director Sahar El Damati, Emirates NBD Egypt is seeking in the coming period to inaugurate new branches to achieve wider geographical spread and boost its volume of deposits. Emirates NBD Egypt seeks to benefit from the eased regulations set by the Central Bank of Egypt (CBE) for opening new mini branches by banks operating in the Egyptian market, El Damati noted.In keeping with its commitment to the support of national projects and the Egyptian economy, Emirates NBD Egypt paid Friday a high-level visit to the site of the new Suez Canal project for members of the bank’s management in Egypt and the UAE. The purpose of the visit was to show support to those working on the project and support the creation of a Center for Rapid Recovery Covering Canal Cities to offer site workers emergency healthcare and rescue services. The value of supplies contributed by Emirates NDB Egypt exceeded EGP 4 million worth of caravans, tents, beds, blankets, living supplies and camp equipment for workers involved in the project. In December, the Central Bank of Egypt (CBE) has set new requirements for opening new mini branches by banks operating in the Egyptian market. According to the new requirements, the banks are required to hold EGP 5 million in capital for every new mini branch opened in Cairo, EGP 2 million for the rest of governorates, except for Upper Egypt governorates which require only EGP 1 million for each mini branch. The new requirements aim to facilitate and support banks' objective to spread across all governorates, with higher reach to new customers. Emirates NBD, the leading bank in the Gulf Cooperation Council (GCC) region and in the United Arab Emirates, entered the Egyptian market on June 2013 through the acquisition of the BNP Paribas subsidiary in Egypt. More»