amwalalghad :: Financial Institutions

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        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        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        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        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        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

Amwal Al Ghad English - 2015-12-15 10:53:30
Egypt signed Monday evening a ¥1.560 billion (US$14 million) grant with the Japanese International Corporation Agency (JICA) in favor of Cairo University Specialised Pediatric Hospital. The grant will go for a project for the construction of outpatient facility at Cairo University Specialised Pediatric Hospital. The project involving building an outpatient care facility for internal medicine services at Cairo University Specialized Pediatric Hospital and providing equipment for the facility. This will improve the outpatient medical care services, strengthen the educational functions of Cairo University Specialized Pediatric Hospital, and improve the level of pediatric medical care services in Egypt. Egypt’s Minister of International Cooperation Sahar Nasr signed the exchange of letters for the provision of the JICA’s grant in the presence of Kenichi Tomiyoshi – JICA’s vice president; and the Japanese ambassador to Cairo Ambassador Takehiro Kagawa. Cairo University Specialised Pediatric Hospital was established in 1982 with grant aid from Japan as a public medical care and educational institution for pediatrics to improve the conditions of maternal and pediatric health care in Egypt. Since then, the hospital has provided advanced medical care services for more than three decades at low cost to many residents of Cairo and other areas, including the poor, and the hospital is called the “Japanese hospital” by Cairo locals. However, with the rapid increase in population in recent years, public medical care institutions face the pressing issue of inadequate medical equipment, and a need for more doctors and nurses, particularly in urban areas. In addition, the facilities at Cairo University Specialized Pediatric Hospital have also been gradually deteriorating, and the lack of space has become a serious problem. This project will solve the outpatient crowding at the facility and increase the number of medical examinations that can be performed, which is expected to improve the outpatient medical care services at the hospital. Since the inauguration of the new administration in 2014, Egypt has been working to achieve fiscal adjustment and expand the social safety net to stabilize the economy and the society. By expanding the medical care services to the poor by strengthening a public health care institution, this project will provide support for that initiative. In addition to this project, JICA is providing technical cooperation with the object of improving the quality of health care services, specifically providing comprehensive support to improve the state of maternal and pediatric health care in Egypt. More»
Al Zahraa Mostafa - 2015-12-14 11:41:30
The leading insurer in MENA region, Misr Insurance Company has won a medical insurance policy bid launched by Egypt’s market regulator, the Egyptian Financial Supervisory Authority (EFSA). Mostafa Al-Shimi – Head of Medical Insurance Division at Misr Insurance – said Monday that EFSA’s policy is tailored for around 2,000 employees, with total sum insured up to 5 billion Egyptian pounds (US$638 million). It involves an insurance coverage of all the medical risks arising out of surgeries, endoscopes, in addition to the medical bills, outpatient clinics, medicines, dental treatments, and chronic diseases, Al-Shimi told Amwal Al Ghad by phone Monday. Misr Insurance targets gross written medical premiums of 480 million pounds by the end of June 2016, compared to 470 million pounds in the last financial year 2014-2015. More»
Amwal Al Ghad English - 2015-12-12 09:32:40
Egypt signed Thursday €62 million (US$68 million) grants from the European Union to support developmental projects in the country. The two agreements were attended by Minister of International Cooperation Sahar Nasr, Minister of Housing Moustafa Madbouli, Minister of Education Helaly El-Sherbeeny, as well as the secretary-general of the National Council for Childhood & Motherhood (NCCM) Hala Abou Ali, and Head of the EU Delegation to Egypt, James Moran. The first agreement worth €32 million is to go for the "Kafr El Sheikh Wastewater Expansion Programme" has been designed to improve the quality of irrigation water in the governorate. This will contribute to increasing health standards for local residents and the environmental quality of the Nile, Lake Burullus,and the Mediterranean Sea at large. The total cost of this strategic project is estimated at €164 million and the total EU contribution amounts to €32 million in grants.  The remaining amount is covered by loans provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). The project supports the construction of new wastewater treatment plants and first time full wastewater collection networks in the Kafr El Sheikh governorate, and will ensure their proper operation once they are in place. Ambassador Moran said "the project seeks to improve the quality of life of hundreds of thousands Egyptians and is a remarkable example of how local and international partners can join forces and resources". He noted that, in total, an impressive 500,000 inhabitants of the Kafr El Sheikh governorate are estimated to directly benefit from the wastewater treatment plants and collection networks that will be provided by this project. The project is expected to create 37,000 jobs during its planning and construction phase and 1,400 permanent jobs for the operation of the new infrastructure once established. Th eHolding Company for Water and Wastewater (HCWW) representing the Ministry of Housing is the local partner of this project, whose direct beneficiary is the Kafr El-Sheikh Water Supply and Sanitation Company (KSWSSC). As for the second agreement, it is dedicated for "Expanding Access to Education and Protection of at Risk Children" project aims to increase access to primary quality community-based education to children in the age group 6 to 14 and will contribute to improve the learning outcomes of the most vulnerable and socially excluded. The EU funded project will help set up 1,200 community schools in disadvantaged Egyptian governorates with the lowest enrolment rates. These schools will target an estimated 30,000 out-of-school and most vulnerable children in the age group 6 to 14. The project will further equip 200 public schools for the inclusion of 6,000 children with disabilities. All children attending these200 schools –a total of about 100,000–will directly benefit from the improved quality of teaching and school environment under this project. In the area of child protection, the project will strengthen the "Child Protection Committees" or "CPC", which represent the backbone of Egypt's child protection mechanism. CPC will be strengthened, among others, through the establishment of direct links with Government and non-government service providers; pilot child protection services financed by the EU will allow the expansion of the concept of "model services", in line with international best practices in this field. The total budget of this project amounts to €36.15 million, with an EU financing of €30 million. The programme will be implemented by the UNICEF, in coordination with the Ministry of Education and the National Council for Childhood and Motherhood, as well as an important group of national and local partners. More»
Al Zahraa Mostafa - 2015-12-10 14:15:40
The leading insurer in MENA region, Misr Insurance Company has won a policy bid to insure the assets and properties of Evergrow, an Egyptian major manufacturer for many kinds of specialty fertilizers. Evergrow’s policy is with total sum insured of approximately 2 billion Egyptian pounds (US$255 million), Hossam El-Hefnawy – Head of Insurance at Misr Insurance – told Amwal Al Ghad Thursday. El-Hefnawy further said Evergrow’s policy is a one-year renewable term, and it involves an insurance coverage of dangers arising out of fire, burglary, other risks, earthquakes, floods, explosions, and accidents. More»
Sayed Badr - 2015-12-10 12:10:58
Egypt is negotiating a €257 million aid from the European Union to finance urgent developing projects in the country, said minister of international cooperation Sahar Nasr. Egypt will sign the final agreement on a US$1 billion loan from the World Bank on December 19th, to help ease a foreign currency shortage. The country will also sign the final agreement on a US$500 million loan from the African Development Bank on December 15th, to finance the urgent developing projects. Meanwhile, Nasr also referred to the ministry’s ongoing negotiations with China to obtain support for the government’s plan to upgrade waste water and sanitation system. More»
Sayed Badr - 2015-12-10 11:45:29
The European Union is ready to increase its financial aid to Egypt to €2.3 billion (US$2.5 billion) from €1.1 billion, said James Moran, EU ambassador to Cairo. On the sidelines of signing EU’s grant agreement with the Egyptian Ministry of Housing and Ministry of Education, Moran reiterates EU’s support for Egypt, notably to the health and education sectors. EU will resume its negotiations with Egypt to support the state’s budget within 2016 after the new parliament would start its activities, Moran added. More»
Al Zahraa Mostafa - 2015-12-09 12:03:37
Commercial International Bank (CIB), Egypt's largest private sector bank, has launched a call for tenders on a insurance policy tailored its assets and properties including premises and cars. CIB’s insurance policy is with total sum insured of approximately 4 billion Egyptian pounds (US$511 million). The policy involves an insurance coverage of dangers arising out of fire, burglary, other risks, and political violence, as well as of civil liability, senior insurance sources told Amwal Al Ghad Wednesday. Moreover, the sources said the CIB’s policy is also to cover the risks of cash transfer, burglary, and dishonesty alongside to provide a banking document and land transport coverage. More»
Amwal Al Ghad English - 2015-12-08 14:41:23
Egypt expects to receive $1.5 billion from the World Bank and African Development Bank by the end of this to support the budget and could discuss potential IMF financing once parliament convenes, International Cooperation Minister Sahar Nasr said. Egypt is implementing a series of reforms aimed at reviving its economy after the 2011 uprising that ended Hosni Mubarak's 30-year rule frightened off tourists and foreign investors, on which it relies for foreign currency earnings. Foreign currency reserves, which stood at about $36 billion before the uprising, were $16.42 billion at the end of November despite billions of dollars in Gulf Arab aid that Egypt has received since mid-2013. More»
Al Zahraa Mostafa - 2015-12-08 10:10:05
Insurance companies have invested 18.014 billion Egyptian pounds (US$2.3 billion) in treasury bills during September 2015, marking an increase of 7.7 percent, from 16.724 billion pounds a month earlier. According to the Central Bank of Egypt (CBE)’s monthly report, the public-sector insurance companies have seized 80 percent of the insurance firms’ total t-bills investments, to record 14.448 billion pounds by September-end versus 13.237 billion pounds by August-end. Meanwhile, the private-sector insurance companies have invested approximately 3.308 billion pounds in treasury bills.  Foreign insurance companies operating in Egypt have recorded total investments of 258 million pounds in treasury bills. Moreover, the CBE’s report also revealed that the investments made by private insurance funds in treasury bills had dropped 7.9 percent to register 3.875 billion pounds in September 2015, compared to 4.211 billion pounds in August 2015. More»
Amwal Al Ghad English - 2015-12-07 18:41:12
Egypt signed Sunday a grant agreement worth €22 million to carry out the European Union-funded project to support agricultural small and medium-sized enterprises (SME). More than 400 agricultural SMEs are expected to benefit from the project, while it will create 20,000 direct and indirect jobs. The fund is expected to reach more than 16,000 beneficiaries over seven years, according to a statement by the Egyptian Ministry of International Cooperation. The signing ceremony of the grant agreement was attended by the Head of Operations of the European Union Delegation to Egypt, Counsellor Diego Escalano-Paturel, the French Ambassador to Egypt, Andre Parent, and the Egyptian Minister of Agriculture and Land Reclamation, Essam Fayed. The grant agreement is in cooperation with the French Agency for Development (AFD), represented by the director of the AFD Cairo office, Stéphanie Lanfranchi, and Minister of International Cooperation Sahar Nasr. The grant originates from the EU and has been delegated to AFD. It will be implemented by the Ministry of Agriculture and Land Reclamation. The project aims to increase the income of agricultural stakeholders through facilitating access to credit and integrating the benefits of the agricultural sector. Contribution to this project in the form of an EU donation is essential to strengthen the capacities of the different actors of the agricultural sector, especially in dairy and marine aquaculture sectors, according to the statement. This grant will also allow the development of an innovative guarantee scheme, the first Trust Fund entirely dedicated to the agricultural sector in Egypt. The EU with the Ministry of Agriculture, the Commercial International Bank (CIB), and the Credit Guarantee Company (CGC) will be strongly involved in the credit line and the guarantee scheme implementation, according to the statement. More»