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        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        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 - Financial Institutions

Islam Abdelhameed - 2014-05-13 10:05:56
Arab Misr Insurance Group (GIG) succeeded in attaining EGP278million as a total value of underwritten premiums within the first 9 months of the fiscal ongoing year of 2013/2014, Mr. Alaa Mohamed El-Zohairy, Managing Director. Speaking to Amwal Al Ghad Arabic's Website, El-Zohairy explained that the total paid up compensations for GIG's clients reached up around EGP101million during the current year. El Zohairy noted that GIG attained surplus insurance activity up EGP50.4million at the end of the third quarter of this year. GIG achieved EGP51.5million net profits in the first 9 months of the current year, El Zohairy added. The total investments of the company reached EGP460million at the end of March, pointing out that the net income of these investments up EGP49million at the end of the FY13/14. The total company's assets up about EGP626million at March-end , stressing that the total rights of Shareholders reached EGP207million. More»
Amwal Al Ghad English - 2014-05-12 12:50:21
Egypt's economic structure is strong and well-established and it will be flourished again depending on human resources and its basic elements, said IMF executive director for the Arab region Abdel Shakour Shaalan. In exclusive statements to the Middle East News Agency (MENA) on Sunday, Shaalan, who is also an international economic expert, said he expected that the Egyptian economy will be recovered after the upcoming presidential elections. On the sidelines of the two-day conference of “Building the Future: Jobs, Growth and Fairness in the Arab World”, Shalaan also voiced optimism over the ability of the Egyptian economy to overcome the current hard stage and start addressing economic problems and reducing unemployment. More»
Amwal Al Ghad English - 2014-05-12 12:43:21
IMF chief Christine Lagarde says euorzone economies are not out of the woods yet. She cites access to credit, low inflation and competitiveness as the key risks and issues for the bloc. "The recovery is under way, that is correct," Christine Lagarde told German daily Handelsblatt in an interview. "Some countries have successfully implemented aid programs, but that doesn't mean thecrisis is over and our mission accomplished." The head of the International Monetary Fund (IMF) says access to corporate credit is still an issue, especially in southern Europe. She warns European governments not to be complacent. "You're setting yourself up for disappointment, it's a false sense of security." She also called for monetary policy to "continue to encourage growth." European governments should push to improve competitiveness through labor market and structural reforms. "All European countries need to do their homework, even the star pupils," she told Handelsblatt. She warned Germany in particular not to rest on its laurels as Europe's leading economy and implement the planned pension reforms as soon as possible. With regards to Ukraine, Lagarde said the conflict there "is a new risk for the global economy" the impact of which was hard to gauge at the moment. But she said the conflict is likely to have a marked impact on international trade, foreign direct investment, energy supplies and global capital flows. She said Ukraine would need more than the $17 billion dollars that have already been earmarked for the country by the IMF. "The international community doesn't have a choice, we can't just say the situation is too volatile, we won't give any money now," she told Handelsblatt. More»
Islam Abdelhameed - 2014-05-11 14:10:02
Good Life Insurance Brokerage Company is considering expanding geographically in canal cities via inaugurating new subsidiary in one of Suez, Ismalia and Port Said governorates, Sherif Abbas, Chairman and CEO revealed. Abbas quoted Amwal Al Ghad in an exclusive that Goodlife's selection for these governorates came as result of the government's and investors desire to be directed in these areas due to its alluring for fresh investments. This governmental direction will contribute in creating major acts for insurance companies in order to achieve the cooperation between the companies and investors, Abbas explained. Goodlife has recently pumped EGP1million paid up capital to reach up EGP2billion so as to comply with the company's activity and its geographical expansions. More»
Islam Abdelhameed - 2014-05-10 13:03:47
Tarek Mahmoud, Head of Compensation Sector at Arab Misr Insurance Group GIG said the total value of GIG's reserves compensation under settlement reached up EGP172million at the end of March. Tarek has quoted Amwal Al Ghad that the auto insurance branch captured the lion's shares from the compensations with 26% to register EGP45million. The size of compensation under settlement of auto supplementary insurance branch up EGP32million at the end of March 2014 against EGP13million of Compulsory motor branch in the same period. GIG is planning settling compensation with €1.8million as result of a fire in one of electronic devices plants. More»
Amwal Al Ghad English - 2014-05-07 12:45:51
Italy is planning to provide an €10 million soft loan for Egypt's Ministry of Agriculture, Italian ambassador to Cairo Maurizio Massari said on Wednesday. The loan will be in field of agricultural mechanization, designed for Egypt's Menya and Fayoum governorates, he added. This comes on the sidelines of Massari's meeting with Egyptian Minister of Planning Ashraf El-Araby, where both parties signed an € one million  grant agreement to finance the Economic and Social Development Project in North Coast. From his side, El-Araby praised the diversity of the Italian-Egyptian development cooperation portfolio which includes multiple financing mechanisms such as the Dept-Swap programme and the credit lines to provide technical and financial support to the SMEs, in areas of food security, education, higher education, agriculture, civil society, environment, and preserving cultural heritage. More»
Amwal Al Ghad English - 2014-05-04 08:37:49
The Dubai Economic Council and the International Monetary Fund will jointly launch the IMF’s “Regional Economic Outlook Update for the Middle East and North Africa” at a conference that will be held on May 6 in Dubai, Khaleej Times reported. IMF director for the Middle East and Central Asia Department Masood Ahmed will give a presentation on the Middle East and North Africa’s 2014 economic outlook. He will share the IMF staff’s views on recent developments and forecasts for the region and will discuss policy implications for improving the economic prospects of the MENA region over the medium term. In addition to the presentation, the event will provide an interactive platform for stakeholders from different industries. More»
Amwal Al Ghad English - 2014-05-03 08:54:59
"Egypt must have economic reforms to achieve growth and investment, no matter who will be in charge," said the Christine Lagarde, managing director of the International Monetary Fund (IMF) on Thursday. “What we are seeing is rather encouraging when it comes to energy subsidy reform for instance and we certainly hope that whoever the new president of the country is, and thereafter the new parliament, will continue these reforms,” Christine Lagarde said in her interview with CNN. Lagarde said that Egypt’s relationship with the IMF is still intact as the global fund continues to provide technical assistance concerning Value Added Taxes (VAT) and energy subsidy reforms. Last year, Egypt announced that it would implement the VAT in order to increase fiscal revenues. According to the Egyptian Tax Authority, the VAT will be fixed at a flat rate between 10 to 12 percent and will be imposed on all goods and services with a few exceptions such as subsidised foodstuffs like oil and wheat. Meanwhile, the Egyptian interim government is currently working to reduce the value of subsidies to LE166 billion ($23.6 billion) in a new bill to be finalised by the end current fiscal year 2013/14. In April, the government raised natural gas prices for households from LE0.1 to LE0.4 per cubic metre. In the same month, an official source told Al-Ahram's Arabic news site that interim Prime Minister Ibrahim Mahlab's cabinet was considering raising the costs of three widely-used forms of petrol – 92 octane, 80 octane and diesel, all of which would be LE1 ($0.14) higher per litre. The IMF had been in talks with Egypt regarding a $4.8 billion bailout package as the country has been coping with violence and economic woes since the 2011 overthrow of president Hosni Mubarak. More»
Islam Adelhameed - 2014-04-29 11:43:55
The Egyptian Financial Supervisory Authority (EFSA) revealed that insurance companies attained EGP382.5 underwriting premiums for property and life insurances against EGP291.4 million premiums which achieved in November 2013, registering 31.3% growth rate. The numbers of insurance property policies represent 73.9% from the total numbers of policies of December 2013, while the properties premiums are 71.1% from the total collective premiums according to the monthly report of EFSA. Properties insurance companies captured around 280574 policies in last December with EGP271.8 million premiums size compared to 252319 policies with EGP188 million premiums in last November. Personal Insurances policies and contracts registered in last December 99050 with EGP110.6 million premiums against 115946 policies and EGP103.4 million collective premiums of November. compulsory auto insurance branch seized 77% of the issued policies within December 2013, while the Supplementary motor branch captured 9.7%. More»
Alzahraa Mostafa - 2014-04-26 14:09:21
General Assembly of Arab Orient Takaful Insurance Company approved to surge its capital to become EGP77.330 million, through pumping EGP12.330 million which started from April17 2014, Mohamed Akef, deputy executive director of financial and administrative affairs said. Akef added that the Assembly decided financing increase of cash distributions to shareholders, noting Arab Orient pumped EGP15 million capitals at the end of the last year. Extraordinary General Assembly agreed to convert the company’s main headquarters to El-Manial instead of Masr El Gedida (Heliopolis) starting from the next May, pointing that the members, shareholders and representatives from the Egyptian Financial Supervisory Authority (EFSA) have attended the two assembles. More»