amwalalghad :: Financial Institutions

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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        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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 - Financial Institutions

Amwal Al Ghad English - 2013-12-03 09:21:17
Treasury yields approached a seven-year high against their German counterparts and the most in 31 months versus Japanese bonds amid speculation the Federal Reserve will trim its debt purchases as soon as this month. U.S. 10-year yields were 105 basis points more than similar-dated bunds. The gap was 108 basis points last month, the most since 2006. The spread to Japanese bonds was about 218 basis points, versus 223 in September, which was the widest since 2011. The European Central Bank and the Bank of Japan both increased efforts to reduce yields this year. “The Fed is contemplating an exit strategy from monetary easing, while the ECB is seen as strengthening its low-rate policy to contain disinflation risks, and the widening yield gap shows this difference in monetary policy,” said Hajime Nagata, who helps oversee the equivalent of $115 billion as an investor at Tokyo-based Diam Co. “Japan’s monetary policy is closer to additional easing than to an exit, which is very different from the Fed.” U.S. 10-year yields were little changed at 2.79 percent as of 4:32 p.m. in Tokyo, according to Bloomberg Bond Trader data. The price of the 2.75 percent security maturing in November 2023 was 99 21/32. The yield has climbed from 1.76 percent at the end of last year. It is below the average of 3.5 percent over the past decade. Japan’s 10-year yield advanced two basis points to 0.63 percent, versus 1.74 percent inGermany as of yesterday. A basis point is 0.01 percentage point. Comparative Returns The Bloomberg U.S. Treasury Bond Index has fallen 2.5 percent in 2013. German bunds slid 1.2 percent, while Japan’s government bonds returned 2.6 percent, according to the Bloomberg indexes. The ECB cut its main interest rate to a record low of 0.25 percent in November. The BOJ increased its bond-buying program in April to more than 7 trillion yen ($68 billion) a month as it fights 15 years of deflation. Treasuries fell yesterday as the Institute for Supply Management manufacturing indexunexpectedly rose to the highest since April 2011, adding to speculation the U.S. economy is improving enough for the Fed to cut stimulus soon. Ten-year yields rose five basis points, or 0.05 percentage point. The Fed has signaled its intention to reduce its $85 billion in monthly purchases of Treasuries and mortgage-backed debt. Minutes from the Federal Open Market Committee meeting on Oct. 29-30, released Nov. 20, showed policy makers expected economic data to show improvement in the labor market and “warrant trimming the pace of purchases in coming months.” Policy makers have kept their target rate for overnight loans between banks at zero to 0.25 percent since 2008. Job Growth U.S. employers probably added 181,000 workers in November after increasing payrolls by 204,000 in October, based on a Bloomberg News survey of economists before the Labor Department reports the figure Dec. 6. Monthly job growth is averaging 186,300 this year, the most since 2005, according to data compiled by Bloomberg. Volatility in Treasuries as measured by the Bank of America Merrill Lynch MOVE index rose to 73.15 yesterday, a level unseen since Oct. 16. That compares with a six-month low of 58.31 on Nov. 18. Treasury trading volume at ICAP Plc, the largest inter-dealer broker of U.S. government debt, more than doubled to $318 billion yesterday, after Treasuries closed early on Nov. 29 following Thanksgiving in the U.S. the day before. The yield premium that Treasury 10-year notes offer over the U.S. inflation rate reached 1.84 percentage points on Nov. 20, the most since February 2011. “U.S. Treasuries are getting more attractive, not only the absolute yield, but inflation is getting lower and lower,” said Yoshiyuki Suzuki, who helps oversee the equivalent of $57.8 billion as head of fixed income at Fukoku Mutual Life Insurance Co. in Tokyo. Suzuki said he’d consider buying 10-year notes if their yields rise to 3 percent. More»
Islam Abd ElHameed, Al-Zahraa Moustafa - 2013-12-02 13:54:37
Hesham Abdel Shakour, Managing Director of Egyptian Life Takaful Company, has asserted that his company is aiming to attain EGP200 million premiums by the end of the current fiscal year of 2013/2014. Abdel Shakour has informed Amwal Al Ghad in an exclusive that Life Takaful attained EGP123 million premiums in the fiscal year of 2012/2013, compared to EGP45 million in FY11/12. He added that the total investments of the company reached around EGP160 million at the end of the fiscal year 12/13, pointing out that the most documents of the company are investments, adding that Life Takaful boosted the capital, registering EGP130 million instead of EGP100 million. He further explained that the company’s business results illustrate the progress which achieved by the company, explaining that the Egyptian insurance market is still needing to establish new companies provided that innovate new products that meet with the customer needs. More»
Moustafa Adel - 2013-12-02 09:59:55
On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 3- and 7-year treasury bonds worth EGP 3 billion. Throughout its official website, the CBE stated that the first offering; 3-year t-bonds is at value of EGP 1.5 billion, whereas the second offering; the 7-year t-bonds amounts to EGP 1.5 billion. This comes in accordance with the Egyptian Finance Ministry’s plan to offer EGP 63 billion within the month, compared to EGP 67.5 billion raised for last October. This comes as the Egyptian government is targeting the provision of EGP 206.5 billion in the local market within the second quarter of the current fiscal year of 2013/2014 through issuing treasury bills and bonds. More»
Islam Abd ElHameed - 2013-12-01 09:48:27
Iskan Insurance Co is considering inaugurating new branch in the Delta within the next fiscal year of 2014/2015, stated Mr. Hammam Badr Managing Director of the Company. Badr has informed Amwal Al Ghad in an exclusive that his company did not specify the targeted area in Delta till now, noting that it will be specified it in accordance with the company’s studying for the economic movement in the various governorates of Delta. He added that Iskan has recently inaugurated new subsidiary in Downtown-Egypt, so the total branches reached 5, along with the main headquarter, representing in 3 branches in Cairo, Alexandria as well as Downtown. He stated that despite the current political and economic turmoil , Iskan has succeeded in achieving its strategic plan, registering 100% premiums growth rates during the previous year of 2012/2013. He further explained that Iskan’s asserts doubled since its inception up EGP100 million with 100% growth rate, due to the achieved balance between the insurance company's portfolio  and investments for the company’s obligation commitments of its policyholders. More»
Moustafa Adel - 2013-12-01 08:49:33
On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91- and 273-day treasury bills worth EGP 5.5 billion. Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2 billion, whereas the second offering; the 273-day amounts to EGP 3.5 billion. This comes in accordance with the Egyptian Finance Ministry’s plan to offer EGP 63 billion within the month, compared to EGP 67.5 billion raised for last October. This comes as the Egyptian government is targeting the provision of EGP 206.5 billion in the local market within the second quarter of the current fiscal year of 2013/2014 through issuing treasury bills and bonds. More»
Islam Abd ElHameed - 2013-11-30 12:03:24
Egypt General Insurance and Property companies, Iskan Insurance and Arab Misr Insurance Group (GIG) are competing to win Misr Petroleum Company’s tender of all its properties and assets. Adel Hegazy, General Manager of Accident and Petroleum Insurance Sector at GIG said the total amounts of Misr Petroleum properties and assets insurance document are EGP1.5 billion. Hegazy has informed Amwal Al Ghad in an exclusive that the document includes covering all of buildings, stores, spare parts and assets of the oil company against the risks of fire, explosion along with social responsibility. Hegazy added that the technical and finance envelopes of the tender opened in the last week, explaining that his company was less expensive among the three companies, but the final broadcast of the tender postponed to the next month. More»
Moustafa Adel - 2013-11-28 13:52:03
On behalf of the Egyptian Finance Ministry, the Central bank of Egypt (CBE) has sold today 182-and364- day EGP6.5 billion treasury bills today. Throughout its official website, the finance ministry stated that the first offering which is 182- day up EGP2.5 billion, registering 10.965% average return, 11.03% highest return and 10.889% lowest return, in addition maturities have been covered  1.73 times. While the second offering 364-day is at value of EGP4 billion, recording 11.358% average return, 11.249% highest return and 11.390% lowest return, along with  2.1 times maturities have been covered. More»
Moustafa Adel - 2013-11-28 08:03:52
On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 182- and 364-day treasury bills worth EGP 6.5 billion.Throughout its official website, the CBE stated that the first offering; 182-day is at value of EGP 2.5 billion, whereas the second offering; the 364-day amounts to EGP 4 billion. This comes in accordance with the Egyptian Finance Ministry’s plan to offer EGP 63 billion within the month, compared to EGP 67.5 billion raised for last October. More»
Islam Abd ElHameed - 2013-11-27 13:02:19
Iskan Insurance Company is planning within the coming fiscal year 2014/2015 to further increase its issued capital to hit EGP 150 million, the company’s managing director said on Wednesday. Hammam Badr - Chairman and Managing Director of Iskan Insurance Company, further told Amwal Al Ghad that his firm’s paid-up capital is valued at EGP 75 million, noting that the anticipated capital increase will be funded by Iskan’s profits. Iskan Insurance Company’s authorized capital amounts to EGP 500 million, he added. Badr also stated that Iskan Insurance’s actual presence in the Egyptian market has begun during the fiscal year of 2009/2010. He noted that Egypt has been suffering from an economic downturn during the last two years which had reversely affected the insurance sector in the country. Notwithstanding the ongoing economic and political turmoil, Iskan Insurance has managed to bring its strategic scheme into effect posting a leap in its premiums by more than 100% in the fiscal year 2012/2013. More»
Amwal Al Ghad English - 2013-11-27 07:39:53
Some Gulf countries have recently tried to persuade the government to go back to negotiations with the International Monetary Fund (IMF) on a $2 billion loan, but the Finance Ministry rejected the matter, saying that the Egyptian economy does not currently need a loan, after the gap in the budget had been bridged through Arab aid, say government sources. Economic-related Ministers recently received intensive calls from officials in Saudi Arabia and the UAE in an attempt to convince them to return to IMF negotiations, which had been halted after the 30 June protests, on the pretext that acquiring a certificate of trust from the IMF gives the economy a chance to get other aid from Europe. The Egyptian government assured the Arab and international parties that there was no need to borrow, stressing that the Arab donor countries can send technical delegations to Cairo to monitor economic indicators and ensure their stability. The government added that the cooperation with the funding continues is in the framework of technical support. An official with ties to the file of Egypt's relations with the International Monetary Fund said that Saudi Arabia had invited Egyptian governmental and private parties to participate in the conference organized by the IMF in collaboration with the International Finance Corporation and the Council of Chambers of Commerce and Industry of Saudi Arabia in Riyadh on 3 December. The conference will be attended by a large team of IMF officials, in addition to government officials, bankers and representatives of the private sector from several Arab countries, including Egypt, Saudi Arabia, UAE, Kuwait, Lebanon, Bahrain, Qatar and some North African countries. The source said that Egypt has changed its position to enter new negotiations with the IMF on borrowing, but said that if the government plans to go back to negotiations, it would not happen before the middle of next year, and the amount of money that the government intends to negotiate for will not exceed $2 billion. Senior IMF officials will participate in the activities of this conference, including IMF managing director Min Zhu, IMF Middle East and Central Asia director Alfred Kammer, and assistant director of the International Monetary Fund in the Middle East and Central Asia Tim Cullen. More»