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        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        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        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

Mohamed Hamdy - 2014-08-25 11:20:28
Egypt's Social Fund for Development (SFD) will sign next Thursday an agreement with the United Nations Development Programme (UNDP) over a EGP 25 million grant to finance labour-intensive projects. In this respect, SFD's Secretary General Hanaa El Hilaly has told Amwal Al Ghad that the grant will go for financing projects in four governorates including Aswan, Beheira, Giza and New Valley. The signing ceremony will be attended by Egyptian Minister of Industry and Trade Mounir Fakhry Abdel Nour, for being the supervisor of SFD's small and medium-sized enterprises, El Hilaly stated. SFD has recently signed US$300 million loan for financing small and micro projects from the World Bank. Since inception, SFD has pumped more than EGP 20 billion in the arteries of the Egyptian economy since its inception in 1992 until the end of 2013. More»
Islam Abdelhameed - 2014-08-24 14:43:11
Suez Canal Life Insurance Company is planning launching new product for health insurance within the upcoming period after Egyptian Financial Supervisory Authority (EFSA) will approve on it, Managing Director Ahmed Shoukry said. Speaking to Amwal Al Ghad, Shoukry explained that this new product is the launch of the medical sector in the company as it contributed in alluring new categories of customers. Suez Canal Life will focus on medical insurance sector in the next period as it is one of the current promising branches, noting that Suez Canal addressed one of reinsurance company and Health care management companies to activate this insurance branch and develop its various products. Moreover, Suez Canal is planning within the upcoming phase to conclude its first banking alliance with one the banks in the Egyptian market so as to promote the products via branches and according to banking insurance mechanism. More»
Islam Abdelhameed - 2014-08-21 12:45:59
The Insurance Federation of Egypt expresses readiness to take part in supporting the country's national mega project to build a new channel parallel to the Suez Canal. The Insurance Federation of Egypt (IFE)'s Chairman Abdel-Raouf Kotb revealed ongoing studies to establish a consortium of Egyptian insurance firms, responsible for providing the insurance cover services for the Suez canal project. The project is a major step by Egyptian President Abdel Fattah al-Sisi to stimulate Egypt's struggling economy. The total estimated cost of drilling the new channel would be about 60 billion Egyptian pounds. During the IFE's press conference, Kotb stated that the consortium will comprise of various expertise in the Egyptian market so as to secure the needed insurance protection for the national project. The proposed risk distribution among the insurers in the consortium will be in accordance with their market share and financial sheet, he added. More»
Al Zahraa Moustafa - 2014-08-20 11:56:27
Egypt's Suez Canal Insurance Company (SCI) targets boosting its portfolio of investments to EGP 650 million by end of the current fiscal year (2014/2015), said general manager Ahmed Shehab. According to initial indicators for SCI's FY 2013/14 business results ended on June 30.2014, Shehab stated that the company registered a 4% decline in its portfolio of investments to EGP 586 million at June-end, compared to EGP 611 million for the same comparable period a year earlier. The Egyptian official attributed the decline to SCI's decision to allocate a portion of its investments to buy real estate assets. The volume of SCI's assets reached EGP 890 million by end of previous fiscal year, he added. More»
Amwal Al Ghad English - 2014-08-20 09:27:46
Egypt's financial regulator, Egyptian Financial Supervisory Authority (EFSA), granted Union National Bank Egypt (UNB-Egypt) (UNBE) its initial approval to start a second phase of rights issue so as to subscribe in 4.7 million shares, remaining of shares from the first phase. The shares will have EGP 5.6 par value per share. Rights issue will be opened from August 25 till August 27. EFSA added, in a statement to the stock exchange, that shareholders as of record till the close of trading on July 10, 2014 are entitled to take part in the second phase with no quota. More»
Amwal Al Ghad English - 2014-08-19 14:57:23
Beltone Financial said its Egypt Investor Confidence Index rose last week by 1.7% from 70.1 points to 71.3 points, after the government announced it is planning to pay dues to foreign oil firms , in addition to the upbeat sentiment towards Suez Canal development project. The rise in investor confidence was driven mainly by the rate of credit swap contracts and ETFS. According to Beltone, Investor Confidence Index rose 16.9 points, or 31.1% year-to-date. It fell 18 points, or 20.2% since the January 2011 uprising, but improved 28.6 points, or 66.8% since June 2013 uprising. More»
Islam Abdelhameed - 2014-08-19 11:47:47
Gras Savoye Egypt – Insurance Broker has decided to postpone its expansion plan to the conflict-torn Libya, managing director Hamed Mabrouk told Amwal Al Ghad on Tuesday. Citing the unstable political and security situation in Libya, Mabrouk announced the postponement decision. However, he expressed his optimism towards the revival of the Libyan insurance sector as soon as the country restores its stability. The ongoing conflict in Libya as militant fighting intensifies, has led thousands of Egyptian nationals to flee the country. Meanwhile, Gras Savoye Egypt is planning to inaugurate its branch in Kuwait within next September, Mabrouk noted, describing it as one of the most promising insurance markets in the region. He further referred that Egyptian insurance activities have great presence in Kuwaiti market; therefore, establishing an Egyptian insurance broker in Kuwait was pivotal. Moreover, Mabrouk said Gras Savoye Egypt's upcoming branch in Kuwait would be the third in the region after inaugurating two offices in the Sudan and Jordan. More»
Alzahraa Mostafa - 2014-08-19 11:44:39
Egyptian Takaful Insurance Property's profits increased by 47.9% to become EGP25 million at the end of June 2014 in compared to EGP16.9 million at June-end of 2013, Managing Director Ahmed Arfeen revealed. In statements to Amwal Al Ghad, Arfeen noted that the Surplus activity surged by 44.9% to become EGP40 million during the last fiscal year of 2013/2014 against EGP27.6 million, stressing that the Customers' share from surplus amounted to EGP12 million. The total value of policyholders' rights reached EGP207.9 million at June end in compared to EGP150.9 million at June 2013, whereas the shareholders' rights up to EGP124.6 million  in the same period in compared to EGP110.2 million, Arfeen explained. More»
Amwal Al Ghad English - 2014-08-19 09:23:54
A.M. Best, the world's oldest and most authoritative insurance rating and information source, will participate in the 30th General Conference of the General Arab Insurance Federation (GAIF), to take place 1-4 September in Sharm el Sheikh City, Egypt. Roger Sellek, Chief Executive Officer - A.M. Best EMEA & Asia-Pacific, Nick Charteris-Black, Managing Director, Market Development - A.M. Best EMEA, and Vasilis Katsipis, General Manager - A.M. Best MENA, South and Central Asia, will be in attendance at the conference. Dr. Roger Sellek said, "The MENA region remains very important to A.M. Best, since we have clients across many member countries of the GAIF. A.M. Best congratulates GAIF on reaching this commendable milestone of its 50th Anniversary and looks forward to continuing to engage in discussions with members and the broader insurance market on ideas and perspectives of importance to GAIF." Marking its Golden Jubilee, this GAIF 2014 conference is expected to attract a wide range of insurance professionals across MENA and beyond. A.M. Best will be holding scheduled business meetings at the conference. To arrange a meeting, please email A.M. Best is the leading provider of financial strength ratings, issuer credit ratings and debt ratings for insurers worldwide.
Amwal Al Ghad English - 2014-08-19 08:28:13
Egypt's top steel manufacturer Ezz Steel announced consolidated net loss of EGP20.2 million in the first quarter of 2014, compared to a net profit of 371.6 million in the same period of the previous year, according to a statement the company released on Monday. Egypt's top steel manufacturer Ezz Steel announced consolidated net loss of EGP20.2 million in the first quarter of 2014, compared to a net profit of 371.6 million in the same period of the previous year, according to a statement the company released on Monday.The company’s standalone financial results for the same period mirrored EGP 45.4 million net loss, compared with EGP 26.4 million net loss in Q1-13. FY13 consolidated net profit had amounted to EGP 533 million, compared with EGP 250.4 million a year earlier. The company's outlook suggests that a "return to political stability" and investments in infrastructure should offset price increases of utilities, the statement said. More»