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        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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

Al Zahraa Mostafa - 2016-06-28 13:14:44
The leading insurer in MENA region, Misr Insurance Company has renewed a medical insurance policy bid for Nasr Petroleum Company, the insurer’s chief executive Hosny Mishrif told Amwal Al Ghad on Tuesday. The insurance policy is with a total sum insured up to 3.5 billion Egyptian pounds (US$394 million), tailored for Nasr Petroleum’s assets and properties, Mishrif added. The policy is a five-year renewable term, involving an insurance coverage of all the risks arising out of all types of fire, burglary, explosions, machine breakdown, earthquakes, storms, volcano, and plane crash, and drinking water pipeline blasts. More»
Amwal Al Ghad English - 2016-06-28 11:25:50
The International Monetary Fund said on Monday it had not received any financing request from Egypt but stood ready to help if a request was made. "We are in continuous contact and maintain close dialogue with the Egyptian authorities. We have not received any program and financing request, but if there is a request the IMF is ready to help Egypt and its people," IMF Mission Chief for Egypt Chris Jarvis said in comments emailed to Reuters. "The size of any financial arrangement would depend on Egypt's financing needs and on the strength of its economic programme." More»
Amwal Al Ghad English - 2016-06-27 12:47:30
A delegation from the International Monetary Fund (IMF) is expected to visit Egypt next June to resume talks over a new loan, a Minister from Egypt's economic group of ministers told Reuters on Monday. Egypt's central bank has started negotiations with the IMF over a $5 billion loan, The negotiations, which started last week, are headed by the central bank, the minister said without giving any details on what kind of loan Egypt is seeking. More»
Sayed Badr - 2016-06-27 12:28:48
Egyptian parliament has approved Monday a $20 million grant deal signed with the Kuwait Fund for Arab Economic Development (KFAED) designated to support refugees in the North African country. The loan will finance the establishment of 30 schools nationwide aiming to improve the educational services provided to the refugees of various nationalities, said Egypt's Ministry of International Cooperation Sahar Nasr. "Egypt has never trade on the presence of refugees, whether from Syria or any other country, in Egypt; we are always keen to improve services to them." Nasr added. There are plans to obtain another grant worth $15 million soon to implement several projects in sanitation and services sectors as part of supporting the refugees living in Egypt, a source in the international cooperation ministry with knowledge of the matter told Amwal Al Ghad. More»
Amwal Al Ghad English - 2016-06-26 11:20:51
Egypt’s Ministry of Finance will issue Sunday two treasury bonds totalling 3 billion Egyptian pounds ($340 million) to support the country’s state budget deficit. On behalf of the central bank, the ministry will raise the first treasury bonds worth 2.5 billion pounds, to mature in five years. The second is valued at 500 million pounds, to mature 10 years. Egypt’s total budget deficit rose by 18 percent in the first ten months of the current fiscal year 2015/16 compared to the same period of last year, to register 9.8 percent of the country’s gross domestic product (GDP), the finance ministry's May bulletin showed Tuesday on its website. From July to April the budget deficit amounted to 273 billion Egyptian Pounds  with the country’s debt service (191.1 billion) significantly rose by 36 percent compared to the same period a year before making up more than third of the total expenditures. More»
Islam Abdelhameed - 2016-06-25 15:15:30
French insurance group AXA has completed pumping 60 million Egyptian pounds ($6.8 million) into its recently-acquired Commercial International Life Insurance Company (CIL)’s capital, said chief executive of AXA Egypt. The increase in CIL’s capital to 150 million pounds aims to meet with AXA’s planned expansion scheme involving launch of new insurance products in the coming phase in Egypt, Hassan El-Shabrawishi, CEO of AXA Egypt, told Amwal Al Ghad. The French insurer acquired earlier in 2015 approval from the Egyptian Financial Supervisory Authority (EFSA) to acquire 100 percent of CIL for €88 million (763 million pounds). AXA Egypt offers life, health, property, accident insurance services for individuals, Small and Medium-sized Enterprises (SMEs), and corporations. AXA, France’s largest insurer, is a multinational, investment banking firm headquartered in the 8th arrondissement of Paris that engages in global investment banking, securities, investment management, insurance, and other financial services. It is one of the world leading insurance and asset management groups, serving 102 million clients, individuals and business, in 56 countries. More»
Ahmed Ali and Mohamed Hamdy - 2016-06-23 10:59:29
Egypt’s Social Fund for Development (SFD) is negotiating a $50 million financing package from the Arab Fund for Economic and Social Development (AFESD) to help finance the country’s small and medium-sized projects. According to SFD’s secretary-general Soha Soliman, the Egyptian fund is still in talks with the World Bank and the European Union to obtain a $250 million financing designated for infrastructure and community development projects. Established by Egyptian Presidential Decree 40/1991, SFD is a socio-economic safety net to combat unemployment, alleviate poverty, improve living conditions and help attain comprehensive socio-economic development. More»
Mohamed Hamdy - 2016-06-21 13:52:43
Egypt’s Social Fund for Development (SFD) is negotiating a $300 million financing package from the World Bank and the Saudi Fund for Development to help finance the country’s small and medium-sized projects. According to SFD’s secretary-general Soha Soliman, the Egyptian fund seeks to obtain a financing package worth $100 million from the Saudi Fund in addition to $200 million from the World Bank. The SFD was established by Egyptian Presidential Decree 40/1991 as a socio-economic safety net to combat unemployment, alleviate poverty, improve living conditions and help attain comprehensive socio-economic development. More»
Amwal Al Ghad English - 2016-06-21 09:30:04
French Insurance giant AXA released Tuesday its strategic plan for the next four years, saying it will cut costs, expand in higher-growth countries and use digital technologies to offer more services to clients. The announcement is part of a plan to boost growth after eight years in which record-low interest rates have weighed on the earnings of AXA and other insurers. The industry relies on bond yields to generate a large chunk of its profit from reinvesting huge stockpiles of cash. The Paris-based company set out a number of metrics for the period through 2020. It aims to boost underlying earnings per share by 3%-7% each year through 2020, generate free cash of between EUR28 billion ($31.72 billion) and EUR32 billion and cuts costs by EUR2.1 billion. The company is also pushing to use digital technologies to evolve from a business that merely accepts premiums and pays claims. AXA wants to use digital technologies help clients avoid health and other risks, and sell more services to them after a payment is made. "It's still easier to buy a book from Amazon than insurance from AXA," said Emmanuel Touzeau, AXA's director of communication. More»
Amwal Al Ghad English - 2016-06-18 14:02:08
The potential risk of a Brexit after the June 23 referendum on European Union (EU) membership is "a concern for the whole world," International Monetary Fund (IMF) Managing Director Christine Lagarde told CNBC. "It's a concern not just for the U.K., by the way, it's a concern for the world," she told CNBC on Friday when questioned about the potential impact of the U.K.'s referendum on EU membership next week. "I have not attended any meetings in the last three or four months with any leader, any policymakers or any body where the question of the impact of the U.K. withdrawing was not asked." "There has been a huge focus on the downside and not much on the benefits and upside," Lagarde said on Friday. "There have been significant benefits (for the U.K.) arising from being part of a single market." `"It's a pretty overwhelming case when you have a huge body of economists (that agree) that it's going to cost (the U.K.), it's going to be negative for income purposes, it's going to reduce trade most likely as a result of uncertainty and those are blatant facts… When one economist disagrees with another, that's life, but when they all agree ... that's a pretty compelling situation." "The U.K. has been, is, and I hope will continue to be a champion of (doing things in a) faster, quicker, less bureaucratic and more efficient (way)," she said, adding that she hoped Europe would continue to try to perfect itself. Lagarde was speaking to CNBC in Vienna where earlier in the day she had presented a speech on European unity. The speech, entitled "Unity in Diversity: The Case for Europe" is timely given rising populism and Euroskepticism in the 28-country European Union (EU), a continuing refugee crisis, economic uncertainty and a forthcoming U.K. referendum on EU membership. U.K. opinion polls show a very tight race between the leave and remain camps and should a so-called Brexit occur, it could precipitate political upheaval in the bloc. The IMF's Lagarde said in her speech that Europe needs to come together now more than ever. "Right now, too many Europeans are worried about their cultural identity, their security, their jobs, incomes, and living standards. And too many of them are led to believe that things would be better if only Europe returned to closed borders and economic nationalism," she said, according to extracts of the speech released by the IMF. More»