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        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        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        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

Mohamed Hamy - 2015-12-31 11:45:09
Alexandria Business Association (ABA) has pumped 1.1 billion Egyptian pounds (US$140.4 million) 345,000 loans for micro enterprises during 2015, Moataz El Tabaa -executive director- told Amwal Al Gahd Thursday. He said that the association is planning to expand and open new offices in Al Sharqia and Monufia governorates besides issuing new products. ABA is in talks with the Social Fund for Development to raise its credit limit from 25 million pounds to 50 million pounds during 2016, El Tabaa added. Alexandria Business Association is currently studying three financing offers from National Bank of Egypt (NBE), Banque du Caire, and QNB Alahli to fund its new administrative building with cost estimated at 40-50 million pounds, the official said. More»
Islam Abdelhameed & Al Zahraa Mostafa - 2015-12-30 18:26:49
Egyptian Takaful Property and Liability Insurance (EGTAK) has won an insurance policy bid launched by the country’s investment authority, its deputy managing director Ahmed Morsy announced Wednesday. Morsi further told Amwal Al Ghad that the policy is tailored to insure the assets and premises of Egypt’s General Authority for Investment and Free Zones (GAFI), with total sum insured up to 700 million Egyptian pounds (US$89 million). It is a one-year term, and it involves an insurance coverage of all dangers arising out of fire, burglary, losses, natural disasters, and other risks, he added. GAFI’s policy also includes coverage of risks related to riots, civil unrests, labourers’ strikes, terrorist attacks, and sabotages. More»
Mohamed Hamdy - 2015-12-30 17:52:19
Egypt’s Social Fund for Development (SFD) plans to sign funding contracts worth 100 million Egyptian pounds (US$12.7 million) with two major industrial and agricultural banks in the country in the first quarter of 2016. Nevine Gamea - Head of SFD's Central Sector for Small Enterprise Finance – told Amwal Al Ghad that SFD plans to sign contracts with with the Industrial Development and Workers Bank of Egypt (IDWBE) and the Principal Bank for Development and Agriculture Credit (PBDAC) worth 50 million pounds each. For the PBDAC’s contract, it is tailored for financing livestock and agricultural development projects, Gamea added. Meanwhile, IDWBE’s contract will go for funding developmental projects and the SFD’s debit account activity. The SFD was established by 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»
Hesham Ibrahim & Mohamed Hamdy - 2015-12-30 13:53:06
The Tahya Masr (Long Live Egypt) Fund, originally initiated by President Abdel Fattah al-Sisi to support national economy, is establishing a holding company by end of next January. According to Mohamed Ashmawy, executive director of the fund, the planned company will be with a paid-up capital of two billion Egyptian pounds (US$255.4 billion), directed to support and finance small and medium-sized enterprises (SMEs) in Egypt. The new firm will be 98 percent owned by Tahya Masr Fund; while Egypt’s two biggest state-run banks, National Bank of Egypt (NBE) and Banque Misr will contribute 1 percent each, or 400 million pounds to the capital, Ashmawy told Amwal Al Ghad Wednesday. Additionally, the new firm is set to finance the establishment of comprehensive industrial complexes for the SME projects. Meanwhile, Ashmawy said his fund contributed around 3 billion pounds to several developmental projects in the country during 2015, notably a new city for the residents of slums in Duweika area of Cairo. The first phase of this city will be inaugurated in two weeks, with total cost amounting to 1.8 billion pounds. More»
Hesham Ibrahim & Mohamed Hamdy - 2015-12-29 18:17:26
Societe Arabe Internationale de Banque (SAIB) will be signing its first Shariah-compliant agreement upon the Musharaka system with Egypt’s Social Fund for Development (SFD) by early 2016. According to Nevine Gamea - Head of SFD's Central Sector for Small Enterprise Finance, SAIB Bank is set to secure an initial of 30 million Egyptian pounds (US$3.8 million) with the possibility to increase the volume of funding in the coming period. The finance will go for small projects in Egypt. The SFD was established by 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 - 2015-12-29 09:48:13
Iraq has revived a plan to sell $2 billion in bonds in 2016 as the government is containing the threat posed by Islamic State (IS) militants, Finance Minister Hoshiyar Zebari told Reuters Monday. The 2016 budget law allows the government to sell $2 billion in bonds should it lack resources to meet its spending target, he said. The plan to sell bonds, the first on the international market by the Iraqi government in about a decade, was put on hold in October as investors demanded an 11 percent yield that Zebari said was too high. The government is hoping to get a better deal should it decide to go to the bond market in 2016 as the armed forces are making steady gains against Islamic State militants and the government's financial position has been strengthened with support from the World Bank and the International Monetary Fund, Zebari said. "This trust or confidence of the international institutions in the country will make the issuance of sovereign bonds easier," he said. "The liberation of Ramadi, I think, will enhance our position," he added, referring to the western Iraqi city retaken by the army from Islamic State militants on Sunday. Iraq, with a B- rating assigned by Fitch in August, has a $2.7bn 2028 note outstanding, sold in 2006. Crude oil prices more than halved in the past 18 months, hitting government income that depends on oil sales for 95 percent. More»
Islam Abdelhameed - 2015-12-27 13:25:47
The total value of Egypt's insurance companies premiums hit 14.6 billion Egyptian pounds (US$1.8 billion) at the end of October 2015 versus 11.8 billion pounds a year earlier, marking 23.7 percent increase. Sherif Samy -chairman of the Egyptian Financial Supervisory Authority (EFSA)- said in a statement released Sunday that life insurance ten-month premiums (new and existing) recorded 9.6 billion pounds opposed to 6.9 billion at the same period of 2014, registering 38.7 percent growth. He noted that the new issuances of the property insurance witnessed a slight increase by 1.1 percent in the first ten months of 2015, which achieved 5 billion pounds, compared to 4.9 billion pounds in the same period of 2014. Samy clarified that supplementary car insurance was on the top of property insurance until October 2015 by 28 percent, followed by fire and medical insurances by 16.2 percent for each, and then compulsory car insurance by 11.3 percent. During the first ten months of 2015, petrol insurance branch witnessed the largest growth estimated at 70 percent followed by aviation (53 percent), then engineering branch (27 percent), the chairman stated. The chairman further stated that the biggest drop occurred in maritime by 17.2 percent and supplementary car insurance by 16 percent, when compared to the first nine  months of 2014. More»
Islam Abdelhameed - 2015-12-27 12:18:36
Egypt's Arab Misr Insurance Group (GIG) has injected 15 million Egyptian pounds into its capital to reach 175 million pounds (US$22.3 million), Alaa El-Zohairy -GIG's managing director- said Sunday. Speaking to Amwal Al Ghad, El-Zohairy stated that GIG intends to inaugurate two new branches within the upcoming period to increase its branches network to 17 by 2016. The two new branches are set to be located in Asyut and Ismailia governorates, the official added. El-Zohairy noted that GIG is expected to start the procedures of a new credit rating in April 2016. GIG has managed to maintain its credit rating at BBB and financial strength rating at B++ 'Good' by A.M. Best, with a 'stable' outlook, El-Zohairy added. More»
Islam Abdelhameed - 2015-12-26 11:22:35
Egypt-based Mohandes Life Insurance Company has renewed reinsurance contracts for 2016 Germany’s Hannover Re, an official from the Egyptian company announced Saturday. Hannover Re SE, with a gross premium of around €14.4 billion, is the third-largest reinsurance company in the world. Its headquarters is in Hannover, Germany. Mohamed Abd El-latif Mourad, managing director of Mohandes Life, further told Amwal Al Ghad that his company considers adding a list of reinsurers to deal with in the coming period. Meanwhile, Mourad said his firm is in talks with the Mohandes Insurance Company – Non-life, seeking to support its financial position and raise its capital in the coming period. Mohandes Life Insurance aims to increase its capital so as to start implementation of its upcoming expansion plans, he added. More»
Islam Abdelhameed & Al Zahraa Mostafa - 2015-12-26 11:11:33
The total investments of Egypt's Misr Insurance Holding Company reached around 36 billion  Egyptian pounds (US$4.6 billion) at the end of fiscal year 2014-15, Chairman Mohamed Youssef stated Thursday. Youssef also stated that Misr Insurance intends to participate in funding and insuring all national projects in Egypt within the upcoming period. The chairman made these remarks during the meeting of general ordinary committees of Misr Insurance affiliates on Thursday. The meeting was attended by representatives of the Egyptian Financial Supervisory Authority (EFSA) and Accountability State Authority (ASA). The affiliates of Misr Insurance Holding Company have achieved remarkable results in all insurance and investment activities by following new and promising strategies for growth and managing risks, the chairman announced. Hence, the role of those firms is maximized to take part in national projects  with large investments in national projects. Chairman Youssef added that the Egyptian economy enjoys prominent foreign and local  investments opportunities since the rate of Egypt has been improved many times due to its political and security stability. More»