amwalalghad :: Financial Institutions

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        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        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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 - 2014-03-16 09:38:11
Egypt is hosting today the Third Regional Forum on Health Insurance & Healthcare under the auspices of the country’s Ministries of Investment and Health. The Insurance Federation of Egypt (IFE) and the Egyptian Association for the Health Care Management in collaboration with the General Arab Insurance Federation (GAIF) will be presenting the 3rd Regional Forum on Health Insurance & Healthcare in Cairo on the 16th and 17th March, 2014. The event is under the theme “Health Insurance in the Arab World (problems and solutions)”. The IFE said in a statement last Tuesday, the forum will be tackling obstacles haunted by the medical insurance sector in Egypt besides reviewing its reinsurance agreements. The event is also set to study upgrading the laws governing both the healthcare and medical insurance. More»
Al-Zahraa Moustafa - 2014-03-13 11:56:38
Refky Lotfy Rashed, Managing Director of Cooperative Insurance Society (CIS) said the Society is targeting to attain EGP60 million premiums by the end of the current fiscal year of 2013/2014. Refky explained that the volume of achieved premiums in CIS reached EGP30 million within the first half of the current fiscal year, stressing that the total compensations under settlements up EGP70.8 million during the fiscal year of 2013/2014 in compared to EGP44.4 million in the previous year. He illustrated that the total value of paid up compensations reached around EGP130 million in the last 3 years, noting that CIS meets their obligations towards the affected clients and that contributed in restoring the confidence for the society again. Moreover, Refky asserted that the current board of directors will seek within the upcoming phase to boosting the versions in all branches and this in coordination with Egyptian General Supervisory Authority (EGSA), targeting reconstructing CIS and to activate it fully. More»
Islam Abd ElHameed, Al-Zahraa Moustafa - 2014-03-12 13:05:44
Mr. Mohamed Abdullah, Deputy Chairman and Managing Director of Suez Canal Insurance Company said his company set strategy for the upcoming five years, targeting boosting the premiums’ volume to EGP1 billion. Abdullah told that Suez Canal is planning within the next period to develop its marketing mechanism and productive device through following new marketing tunnels along with offering creative products in the Egyptian market. He added that his company is currently considering marketing its various products via the banks’ branches through banking insurance, as the company started negotiating with two banks to conclude Cooperation agreement in the coming phase. Furthermore, he said his company is planning to offer insurance coverage for the tourism buses against terrorism risks, so that the first document becomes in the Egyptian market, noting that the company is still negotiating with the reinsurers on these coverage. More»
Islam Abd ElHameed - 2014-03-11 15:04:29
Gras Savoye Egypt – Insurance Broker has written premiums totalling EGP 252 million across its three branches i.e. Egypt, Sudan and Jordan during 2013, an official from the insurance firm said today. Speaking to Amwal Al Ghad on Tuesday, Hamed Mabrouk - Managing Director of Gras Savoye Egypt – further stated that the Egyptian market attained EGP 235 million of the company’s total written premiums by the end of December 2013. Gras Savoye Egypt targets premium growth by 50% within 2014 to hit EGP 352.5 million by the year-end. Meanwhile, the insurer’s branch in the Sudan got EGP 14 million of the total premiums written in 2013, targeting an increase to EGP 21 million by 2014-end, he added. Moreover, Mabrouk referred that the Jordanian branch obtained EGP 3 million out of the company’s total written premiums in 2013. Gras Savoye Egypt is planning to launch its new branch in Libya within the upcoming few months. More»
Amwal Al Ghad English - 2014-03-11 15:04:38
Egypt is set to host next Sunday the Third Regional Forum on Health Insurance & Healthcare under the auspices of the country’s Ministries of Investment and Health. The Insurance Federation of Egypt (IFE) and the Egyptian Association for the Health Care Management in collaboration with the General Arab Insurance Federation (GAIF) will be presenting the 3rd Regional Forum on Health Insurance & Healthcare in Cairo on the 16th and 17th March, 2014. The event is under the theme “Health Insurance in the Arab World (problems and solutions)”. The IFE said in a statement on Tuesday, the forum will be tackling obstacles haunted by the medical insurance sector in Egypt besides reviewing its reinsurance agreements. The event is also set to study upgrading the laws governing the healthcare and medical insurance sector. More»
Al-Zahraa Moustafa - 2014-03-10 09:39:00
The Egyptian Association for Co-operative Insurance has held its  general assembly today in the presence of a majority of the members of the Board of Directors , headed by Hamdy Azzam, Chairman of the board of Directors of IDWBE. The Association ratified the Board of Directors’ report regarding the association’s activity  for the fiscal year of 2013/2014 and agreed on a budget and an investment account the rights of members ,income and expenditure and the auditor's report . It also ratified the Assembly to identify EGP500 transportation allowance of the members and the continued the attendance allowance sessions with EGP1000, and the association decided to waive any bonuses given to it due to the conditions experienced by the association at present. Mohamed Shafie member of the Board of Directors suggested taking bonus and donation amount and determine EGP50.000 fees , in addition to the recommendation to study the provision of life- insurance policy and document pension for all workers and the contribution of a maximum of EGP250. 000 of the Board of Directors . More»
Amwal Al Ghad English - 2014-03-09 14:18:58
Misr General and Property Insurances, Arab Misr Insurance Group- GIG are competing to seize insurance policy of Egyptian Natural Gas "GASCO"’s assets. Adel Hegazy, General Manager of Accident and Petroleum Insurance Sector at GIG said the total insurance amounts of policy up EGP18 billion, noting that the document’s period is for one year that will start by next April. Hegazy explained that the document includes the coverage of fire and burglary risks across governorates including natural gas network, stores and lines and gas pipeline subsidiary to GASCO Company. Furthermore, Hegazy noted that his company captured this document in the last year and its period may end up in this month, stressing that GASCO called several insurance companies which operating in the Egyptian market to provide the prices offers of the document but the competition has been limited technically between Misr Insurance, Insurance and GIG. More»
Sayed Badr - 2014-03-09 12:55:28
Egypt and China signed this morning a total of US$25 million worth of  a technical and economic cooperation grant to support development projects in the North African country. Egyptian Minister of Planning and International Planny Dr. Ashraf Al-Araby and Chinese Ambassador to Egypt Song Aiguo have signed the two technical and economic cooperation agreements on Sunday. This comes within the framework of an agreement signed during the Egyptian former president Mohamed Morsi’s tenure in which China would grant Egypt 450 million yuan (US$ 73.53million) over three years, starting from 2012, to be delivered in three equal annual tranches. In 2012, Egypt had already received the first tranche of 150 million yuan (around US$25 million) and today it is getting another tranche after signing the two agreements. From his part, Minister Al-Araby said China is one of Egypt’s key economic partners during the current phase. He said the total grants given by China to the North African country have reached US$120 million dedicated for development projects, in addition to soft loans worth US$300 million to finance Egyptian developmental plans as well as multiple projects in fields of education, health and security. Moreover, the minister said he discussed during his meeting with the Chinese ambassador Aiguo a number of central issues, notably deepening the trade relations between the two countries. Meanwhile, Chinese ambassador Aiguo stated that the technical agreement is linked to combating desertification in Egypt. China is seeking to cooperate with the Egyptian side to find solutions for desertification which indeed threatens agricultural productivity in Egypt, he added. The Chinese official further said the volume of trade exchange between Cairo and Biking hit around US$10 billion in 2013. More»
Moustafa Adel - 2014-03-09 08:13:56
On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 182 and 357-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 357-day amounts to EGP 4 billion. Within this month, Egypt’s newly-appointed government led by Ibrahim Mehleb is targeting the offering of treasury bonds and treasury bills totaling EGP 69 billion, seeking to fill the state’s widening budget deficit which recently reached EGP 119.4 billion. During former Prime Minister Hazem Beblawi’s tenure, Egypt has borrowed EGP 540 billion in forms of treasury bonds and treasury bills throughout the period from January 2013 to February 2014. More»
Amwal Al Ghad English - 2014-03-08 17:31:19
Three Egyptian and foreign insurers are competing to get the Political Violence Insurance Policy contracts with the American University in Cairo (AUC). The contract comprises offering insurance coverage to the AUC’s nation-wide premises, students, visitors against incidents linked to political violence such as riots, strikes, burglary, and fires. AUC’s Political Violence Insurance Policy contract is likely to exceed EGP 5.5 billion, Ahram Online reported on Saturday citing senior insurance sources with knowledge. AUC launched a couple of days ago the political violence insurance policy coverage in a tender. From his side, Abdel Raouf Kotb – the chairman of the Insurance Federation of Egypt (IFE) – stated that 90% of the state-owned universities in Egypt are ‘uninsured’. “Despite the recent riots and disturbances which resulted in losses worth millions of pounds, there is no concern about providing insurance coverage for the universities in Egypt.” Kotb added. Meanwhile, the three competing insurers over the AUC’s political violence insurance policy are Misr Insurance Company, AIG Insurance and ACE Group. More»