amwalalghad :: Financial Institutions

Your English Portal To Arab Economy

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        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        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        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        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 - Financial Institutions

Sayed Badr - 2014-11-24 13:23:26
UAE Khalifa Fund for Enterprise Development is due to sign two framework agreements to finance microenterprises in Egypt.  The agreements outline joint efforts to boost development and opportunities for micro-sized enterprises in Egypt In this respect, the Egyptian Minister of International Cooperation Naglaa Al Ahwany and Khalif Fund’s Chairman Hussein Jassim Al Nowais will sign the first agreement. The second agreement, which involves the implementation of an integrated series of micro developmental projects in Egypt, will be signed by Soha Soliman – Secretary General of Egypt’s Social Fund for Development; and Ibrahim Ibrahim Al Mansouri – Khalifa’s Chief Operations Officer. The signing ceremony will be in the presence of Egypt’s Prime Minister Ibrahim Mahlab and Sultan Ahmed Al Jaber, Minister of State of the UAE and its special envoy for energy and climate change. The Khalifa-SFD agreement will target the most impoverished rural areas in addition to supporting women and youth in Egypt. That is why 75% of Khalifa’s loan will be allocated for rural areas; while 25% are for microenterprises run by women and youth. Furthermore, the agreement aims to support the implementation of around 197.524 microenterprises, including 49.383 for women, targeting the creation of 167.709 total job opportunities. More»
Al Zahraa Mostafa - 2014-11-24 12:13:46
Egypt’s Suez Canal Insurance witnessed a decline of 8% in investments by end of first quarter of current fiscal year, said general manager Ahmed Shehab. The insurance company registered volume of investments amounting to EGP 579 million, from EGP 623 million last year. Speaking to Amwal Al Ghad on Monday, Shehab attributed the decline to the company’s decision to allocate a portion from its investment portfolio in order to purchase real estate assets. Suez Canal Insurance’s volume of assets reached EGP 890 million by end of last fiscal year, he added. During the first three months of current fiscal year 2014/15, Suez Canal Insurance posted investment returns totalling EGP 12.8 million, 3.2% up from EGP 12.4 billion by end of last September, the official noted. Earlier in September, Suez Canal Insurance bought EGP 10 million worth of investment certificates dedicated to finance the new waterway along the Suez Canal. It had also donated EGP 100 million worth of an insurance policy in favour of the labourers working on the drilling of the new canal. More»
Islam Abdelhameed - 2014-11-23 13:16:29
Managing Director of Arab Misr Insurance Group (GIG) Mr. Alaa El-Zohairy said his company is seeking to increase its branches to 16 distributing across republic. In statements to Amwal Al Ghad on Sunday El-Zohairy explained that his company has 14 branches during the current phase across governorates, stressing that it is planning to inaugurate new branches one of them in Sixth of October and the other in New Cairo. It is schedule to move to New Cairo within the next 3 years, he added. Furthermore, he asserted that GIG is aiming to verify its submitted insurance products for customers as in conjunction with the company's geographic expansion, GIG's development department is considering some of these new products as prelude to be rolled out in the Egyptian market and follow up new marketing methods so as to achieve new growth market share which reaches 6% of insurance companies and 10% of private sector. More»
Amwal Al Ghad English - 2014-11-23 08:48:51
EFG-Hermes has signed a memorandum of understanding (MoU) with a Kuwaiti initiative affiliated with the Kuwaiti Red Crescent, to fund the development of Makhzen village in Qena Province. The project will contribute to a solution for infrastructure issues, poverty, education, food security, unemployment, and sanitation issues. Minister of Social Solidarity Ghada Wali thanked Kuwait for its continued support of Egypt during the signing ceremony on Thursday morning at the Four Seasons Hotel. She emphasised the importance of this project, which forms a model for partnership and development partnership between the public and private sectors. Wali stressed her keenness to support this and all Arab social development projects, which have been undertaken by Kuwait, Saudi Arabia, and the UAE in recent years. EFG-Hermes Chairperson Mona Zulfikar said her company seeks, through scientific and field studies, to develop the neediest areas in Egypt by combating poverty, developing health care, education, housing, water, and sanitation. The company also seeks to develop and fund small projects that work to create jobs and income for young people in Egypt. For her part, Kuwaiti Initiative to Support the Egyptian People Chairman Adela Al-Sayer said that historic relations between Egypt and Kuwait have touched on numerous issues in the political, social, economic and cultural fields. She added that they initiative members are collecting donations from the Kuwaiti people amounting to KWD 276,000 (EGP7m) to cover project costs. The Makhzen village project will include the reconstruction and restoration of 362 houses, and construction of a new school on an area of 400 square meters with a height of four floors. Existing schools will also be provided with school furniture and scientific equipment and laboratories, while maintenance and repair works will be undertaken and a new automated bakery constructed. This project is the embodiment of the EFG-Hermes vision of developing villages and rural areas to reduce poverty through sustainable development, working  to rehabilitate the entire community. Before this project, EFG-Hermes completed another project for rebuilding and developing the Sheikh Yaqoub manor in Beni Suef. EFG-Hermes also oversaw the reconstruction and development of 450 houses, and the construction of a sewage treatment plant, and a service centre that includes a clinic, nursery, bakery, training hall, and a dairy plant at a cost of EGP 27m. It was inaugurated in 2010 after the initiative launched by EFG-Hermes with a cost of EGP 50m for the development of villages in areas that are most in need in Upper Egypt. It will be distributed started from 2015 according to the implementation programme to serve more than 30,000 Egyptian citizens. More»
Moustafa Adel - 2014-11-22 16:20:41
Egypt’s Ministry of Finance announces on Thursday plans to issue treasury bill and treasury bonds totalling EGP 214.5 billion (around US$30 billion) within second quarter of fiscal year 2014/2015. This comes in comparison with what were offered during the first quarter of FY 2014/2015 of EGP 217.2 billion. The Egyptian Ministry further said it would offer 91-day, 182-day, 273-day and 364-day treasury bills, amounting to EGP 32.5 billion, EGP 39 billion, EGP 45.5 billion, and EGP 52 billion, respectively. For the treasury bonds, the Egyptian government would launch 3-year, 5-year, 7-year and 10-year treasury bonds, at values of EGP 14 billion, EGP 10 billion, EGP 6 billion, and EGP 5 billion, respectively. In addition, the country targets offering 1.5-year zero coupon bonds worth EGP 10.5 billion. Moreover, the ministry also pointed out that it had issued debt instruments totalling EGP 64 billion during last October, planning to launch EGP 67 billion within the current November, and auction EGP 83.5 billion during December. More»
Mohamed Hamdy - 2014-11-22 15:45:43
Egypt’s Social Fund for Development (SFD)’s microenterprise funding has exceeded target in 2014 of EGP 1.630 billion, said an official from the fund. Nevine Gamea - Head of SFD's Central Sector for Small Enterprise Finance – announced on Saturday the fund’s plans to pump finances at value of EGP 1.650 billion in microenterprises by end of the current November. The planned finances are in forms of direct and indirect funding from banks and institutions. SFD’s total current portfolio of microenterprises reached EGP 500 million in favour of around 235.000 clients by end of last October. During the first half of 2014, SFD signed 12 contracts worth 1.081 billion Egyptian pounds with banks and financial institutions for the support of small projects. In addition, the fund also signed, during the first half, 11 contracts at value of 86 million pounds with financial institutions to fund micro-sized projects. More»
Mohamed Hamdy - 2014-11-22 14:31:57
Egypt’s Social Fund for Development (SFD) will sign a new financing contract worth EGP 40 million with Bank Audi Egypt by early 2015, secretary-general Soha Soliman announced today. Speaking to Amwal Al Ghad on Saturday, Soliman stated that SFD’s newest contract with Bank Audi, a member of Audi Saradar Group, would go for financing the debit account activity and the development of microenterprises. SFD is currently preparing its strategy for the upcoming period ahead of submitting it to the Egyptian Cabinet, she added. More»
Mohamed Hamdy - 2014-11-22 11:15:33
Franchise Egypt Expo 2014 has been inaugurated today by the Secretary General of Social Fund for Development. The one-day event is organised by the Egyptian Junior Business Association (EJB) in coordination with SFD and under the sponsorship of Mounir Fakhry Abdel Nour - Egyptian Minister of Trade, Industry and SMEs. It comes as part of EJB’s mission to promote entrepreneurship and create new job opportunities. The event aims to increase awareness about the rate of success of franchising business model compared to normal startups, create new jobs in the market, establish one stop shop to provide consultancy services and match making, to both franchisor and franchisee. In parallel to the expo matchmaking meetings between potential franchisees and franchisors, workshops on franchising procedures, access to finance, legalities shall take place featuring high profile international consultants in the franchise business. From her part, Soha Soliman said SFD is keen to continue its cooperation with the EJBA along with other institutions working on raising awareness of the importance of the franchise system. The Egyptian official further referred that the African Development Bank Group (AfDB) is the key financier of the franchising sector support programme in Egypt. AfDB has secured a line of credit at value of US$40 million to promote franchising in Egypt as an effective business strategy for provide sector development and SME growth, Soliman elaborated. The Franchising Sector Support Programme (FSSP) seeks to promote franchising in Egypt as an effective business strategy for private sector development and SME growth. The proposed FSSP will encourage the establishment and expansion of the local franchising concept, resulting in entrepreneurship development, economic growth, and job creation. The medium-term objective of the FSSP will be to establish solid local financial instruments and collaborative structures that address the current gaps in the franchising market. More»
Islam Abdelhameed - 2014-11-20 14:13:10
Eight insurance companies are fighting off to win a tender designated to insure the assets and premises of the state-owned Egyptian Holding Company for Airports and Air Navigation (EHCAAN). As being the managing director of a brokerage firm that deals with some of the competing insurance companies to win the tender, Yasser Al-Alam from Egypt Link Insurance Brokerage said the total value of the policy is worth 20 billion Egyptian pounds (US$ 2.8 billion). He further told Amwal Al Ghad that the amount of total premiums paid for a policy amounts to 10 million pounds. EHCAAN’s policy is one-year renewable term and is set to provide insurance coverage to the company’s assets, vehicles and premises against risks of dishonesty and all damages resulting from riots, civil unrest and labourers’ strikes, Al-Alam clarified. Another tender will be announced in the coming few days about a second policy to secure insurance coverage to the EHCAAN’s assets and affiliated premises against all the risks of fire and burglary, he added. Moreover, Al-Alam said the list of competing insurance companies in EHCAAN’s tender includes; Misr Insurance (Non-life), Arab Misr Insurance Group - GIG-Egypt, Royal Insurance Company, and Suez Canal Insurance Company. More»
Alzahraa Mostafa - 2014-11-20 10:04:40
The total value of investment revenues of Arab Orient Takaful Insurance within the first quarter of the fiscal year 2014/2015 inched by 38% to EGP5.8 million in compared to EGP4.2 million within the same period of the previous year, said Mohamed Akef, deputy executive director of financial and administrative affairs of the company. Speaking to Amwal Al Ghad on Thursday, Akef explained that the allocated investment revenues reached EGP3.971 million at the end of September while the unallocated investment revenues were EGP1.821 million in the same period. The company's total investments reached EGP291.4 million at the end of September in compared to EGP256.2 million in September 2013, stressing that the technical gross of allocations reached EGP143.3 million during the end fiscal year of June 2014, Akef noted. The total value of premiums which attained by Arab Orient Takaful in the first quarter of the fiscal year of 2014/2015 reached EGP63.8 million in compared to EGP52 million in the same period of the previous year, he asserted. Moreover, The company paid EGP28.5 million within the first 3 months of 2014/2015, against EGP12.8 million in the same period of 2013, the gross net profits of shareholders reached EGP7.1 million in September from EGP6.3 million in September 2013. More»