amwalalghad :: Financial Institutions

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - 2014-08-05 11:03:09
Challenges such as large current account and fiscal deficits remain, but three years after the Arab Spring uprisings, the tide is turning in favour of the economies of North Africa, says London-based Capital Economics. A gradual return to political stability in Egypt and Tunisia should support activity there, while exports are likely to pick up on the back of the modest recovery in the global economy, its analysts note, while expecting overall growth to gradually strengthen over the next couple of years. Egypt’s economy is gradually recovering following last summer’s “second revolution”, though a fresh outbreak of political unrest remains a risk. However, with the new government undertaking reforms, the outlook is brightening. Growth in the Gulf region, meanwhile, is likely to slow as the past decade’s boom in hydrocarbon production fades and fiscal policy becomes less supportive, the analysts say. “The big picture is that growth in North Africa could surpass that in the Gulf come next year,” Capital Economics reckons. Here are some key highlights from the research firm’s latest outlook report on the Middle East. -Saudi economy is set to slow over the next few years as government spending rises at a weaker pace and growth in the oil sector eases. -U.A.E.’s non-oil sector should benefit from the pick-up in the global economy, but rising fears in Dubai of a fresh property bubble, as well as the emirate’s large corporate debts will continue to cast a shadow over the outlook. -Qatar’s ambitious investment program means it is likely to remain the region’s best performing economy over the next few years. -In Tunisia, a return to political stability, coupled with faster growth in key euro-zone trading partners, should support a gradual recovery. More»
Alzahraa Mostafa - 2014-08-04 13:33:10
A monthly report which issued by Egyptian Financial Supervisory Authority (EFSA) revealed that 83.4 thousand insurance policies have been canceled within the first 5 months of 2014 against 77.1 policies that canceled in the same period of 2013. The total numbers of canceled policies in insurance property sector reached 63.2 thousand policies with 75% from the total numbers of policies at the end of March 2014. More»
Alzahraa Mostafa - 2014-08-04 12:39:24
Egyptian Takaful Insurance Company (Property) aims boosting its investment portfolio to EGP432million by the end of the current year of 2014/2015, El-Sayed Bayoumi - head of investment department revealed. In a statements to Amwal Al Ghad, Bayoumi added that his company intends attaining investment returns  up to EGP60.5million by June 2015. He emphasized that Takaful Insurance achieved EGP367million investments in the last year registering EGP50million returns. Takaful Insurance plans entering in long-term investments as shareholders through considering the projects in which the Egyptian banks are intending to launch during the current fiscal year 2014/2015, he explained. Moreover, Bayoumi expected that treasury bills and bonds will be activated in the next period and this will contribute in changing the investment portfolio structure in many firms, stressing that Egyptian Takaful property invests around 94% of its portfolio in Egyptian Exchange. More»
Islam Abdelhameed - 2014-08-03 11:25:25
Alpha Capital Holding (AC) has been chosen to manage Wethaq Takaful Insurance – Egypt's launched-to-be mutual fund, said Abdel Aziz Labib Wethaq's General Manager of Financial & Administration Affairs. Wethaq's planned fund will be at an initial capitalisation amounting to EGP 50 million, Labib noted, saying it is expected to be launched in local markets within the next three months. The Egyptian Financial Supervisory Authority (EFSA) has recently given its regulatory approval for the launch of six open-ended mutual funds by insurance companies, with total capitalisations worth EGP 450 million. In the same vein, Labib referred that his company is currently completed the regulatory procedures required to launch its mutual fund. About the fund, he stated that its investment objective is to provide a savings and investment pool in order to give daily liquidity through accumulating daily returns on the fund's investments. Elsewhere, Alpha Capital (AC) was established in early 2009, and headed by Dr. Abdel Moniem Omran, who has more than 12 years of experience in the field of asset management, from which 4 years as Chairman and Managing Director of EFG-Hermes Fund Management. More»
Amwal Al Ghad English - 2014-08-02 13:34:50
Egyptian Ministry of Finance will launch Sunday new short term Treasury bills (T-bills) worth 6 billion Egyptian pounds (around US$839.1 million). Bids will be held in two tranches, in collaboration with the Central Bank of Egypt (CBE). The government will be offering T-Bills totalling EGP 6 billion on Sunday, of which EGP 2.5 billion will mature in 91 days and EGP 3.5 billion will mature in 266 days. Within this August, Egyptian government is planning to offer debt instruments at value of 64.5 billion Egyptian pounds, compared to 79.5 billion launched last July. More»
Islam Abdelhameed - 2014-08-02 10:24:30
Managing Director of Egyptian Takaful Company (Life) Hisham Abdel Shakour said his company succeeded in attaining EGP233million premiums at the end of the last fiscal year of 2013/2014 against EGP123million in the previous year, registering 89.4% growth rate. In a statements to Amwal Al Ghad, Abdel Shakour explained that his company plans during a few coming months to start promoting its insurance products through two banks. The company intends offering 5 new insurance products through the bank's branches and according to banking insurance mechanism. Moreover, Takaful insurance intends during the next period to expand micro insurance policies so as to meet with the citizens' needs. More»
Al Zahraa Moustafa - 2014-07-31 10:10:08
Egypt's Suez Canal Insurance (SCI) will provide insurance cover for one of the contracting companies specialized in the installation of electrical grids and transformers, Engineering Sector Head Moshira Maamoun announced. This comes after SCI has won an €30 million insurance policy on the contracting company, she noted. Furthermore, Maamoun also revealed that the insurance policy will cover all the risks of the installation performed by the company in its nationwide projects. It is a one-year renewable term insurance policy, she added. In the same vein, Maamoun said she expects a leap in SCI's Engineering Insurance Division within the upcoming phase. More»
Islam Abdelhameed - 2014-07-26 10:05:13
Gras Savoye Insurance Broker - Egypt is targeting US$50 million premiums collected by its branches abroad within the current year, said Managing Director Hamed Mabrouk.   In a recent statement to Amwal Al Ghad, Mabrouk explained that his company has two branches in Sudan and Jordan, stressing that it plans by coming months to increase its presence in the Arab world.  Gras Savoye Egypt's board of directors agreed to expand in Kuwait and Yemen, Mabrouk added. Furthermore, the company is looking forward opening up ts branch in Libya provided that security and political stability is restored there. More»
Mohamed Hamdy - 2014-07-24 11:28:21
Social Fund for Development (SFD) has pumped EGP20million finance in favor of project to convert vehicles to work on natural gas in cooperation Petroleum Ministry through two contracts with Cargas and Gastec firms. Egyptian Petroleum Minister Sherif Ismail and Hanaa El Hilaly – Director General have signed the contract and 4000 vehicles will be converted throughout this finance. This contract comes in the framework of the government's efforts to help citizens after fuel rise price beside encouraging vehicles to work on natural gas as this project will support the national economy, keep the environment and reduce pollution. More»
Islam Abdelhameed - 2014-07-24 10:14:40
Managing Director of Arab Misr Insurance Group (GIG) Mr. Alaa El-Zohairy said his company succeeded in attaining EGP367million premiums in the last fiscal year of 2013/2014, against EGP345million in 2012/2013 registering 6.3% growth rate. In a statements to Amwal Al Ghad GIG prepared plan to increase its premiums' volume to EGP410million by next June, driven by future expectations for improving the national economy in the next period. There are strong Indicators for economic recovery as result of political and security stability which witnessed by Egypt in the current period, El-Zohairy noted. Moreover, GIG focuses on new marketing mechanisms in order to promote its various insurance products and this will contribute in attracting customers most notably banking insurance service. More»