amwalalghad :: Financial Institutions

Your English Portal To Arab Economy

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        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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        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        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

Islam Adelhameed - 2014-04-03 11:27:57
Arab Misr Insurance Group (GIG) is waiting for re-evaluation "AM Best" Foundation to its credit rating by the next two months, Alaa Mohamed El-Zohairy revealed. GIG has held a meeting with the official of A.M. Best within the current week in order to review the statistics of the company’s results in the last year, along with the strategic plan for the next 3 years, El-Zohairy the Managing Director explained. The meeting also discussed the current political turmoil, in addition to reviewing the features of improving these conditions especially in the light of the country’s attitude towards continuing the democracy. Furthermore, he added that the company hopes to keep up the previous rating ‘BBB’, explaining that this is a good indicator for GIG’s performance. More»
Mohamed Hamdy - 2014-04-02 12:20:56
Egyptian Petroleum Ministry and Social Fund for Development (SFD) signed contract for financing the cars to work with double fuel gas / petrol worth EGP20 million provided by the fund instead of diesel and gasoline. Hanaa Al Hilali, Secretary General of SFD and Eng. Khaled Abdul-Badie – the vice chairman of the state-run Egyptian Natural Gas Holding Company (EGAS) attended the signing. Cargas and Gastec will play the role of implementation, the interest value will be installed with good price so as to encourage them for converting their cars to work with gas as this has a payoff environmental and economic effective. More»
Islam Adelhameed - 2014-04-01 11:31:15
Arab Misr Insurance Group (GIG) is planning to call the Egyptian Financial Supervisory Authority (EFSA) to adopt 3 new products for the banks’ customers within the upcoming phase, Ali Bashandi. CEO - Reinsurance & Technical Affairs at GIG said. The three products including insurance policy for Traveler, protection credit cards insurance policy and replacement keys policy, noting that GIG is about to finalize putting the final features for policies in order to send it to EFSA. More»
Amwal Al Ghad English - 2014-03-30 15:41:24
Egypt has ruled out on Sunday seeking a $4.8 billion loan agreement from the fund in the meantime, according to finance minister Hany Qadry. Qadry elaborated that Egypt needs first to elect its head of state and form its parliament before seeking a loan deal with the International Monetary Fund (IMF), he noted. “Any talk of a deal with IMF is premature.” The minister notedTwo years of negotiations over a $4.8 billion loan have passed without an agreement between the two sides, mainly because of the reluctance of successive Egyptian governments to impose reforms that would squeeze living standards, such as lifting fuel subsidies and raising taxes. Since Mohamed Morsi was ousted in July, Egypt has turned increasingly to friendly Arab states for economic assistance, receiving pledges of $12 billion in loans, grants and fuel shipments from Saudi Arabia, the United Arab Emirates and Kuwait, of which $7 billion has been delivered. Qadry worked as a top ministry official for more than five years until he resigned 10 months ago during the term of deposed President Mohamed Morsi. Educated at Columbia University, he was described by a senior European diplomat as the only ministry expert able to deal professionally with the International Monetary Fund during a failed Morsi administration bid to secure a loan last year. Dimian stepped down shortly after the talks collapsed because of Egyptian resistance to economic reforms. Those reforms are needed to control a budget deficit that hit almost 14 percent of gross domestic product in the year ending June 30. Dimian was appointed as deputy finance minister in 2007, serving under then Finance Minister Youssef Boutros-Ghali. He was promoted during Morsi's year in power to first deputy minister in 2012. Dimian has replaced former Finance Minister Ahmed Galal. During his six years at the Finance Ministry, Dimian established a Macro-Fiscal Policy Unit, promoted fiscal transparency and drafted a modern income tax code, he said on his Linkedin profile. More»
Moustafa Adel - 2014-03-30 08:14:17
On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91 and 273-day treasury bills worth EGP 5 billion. Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2 billion, whereas the second offering; the 273-day amounts to EGP 3 billion. Egypt’s Finance Ministry is issuing treasury bills and treasury bonds to go for filling the state’s budget deficit which reached EGP 123.6 billion during the period from July to February of the current fiscal year. Meanwhile, the North African country’s government has issued governmental instruments totalling EGP 609 billion throughout the last 9 months from July 2013 to March 2013. It is planned to offer more instruments at value of EGP 205 billion within the next three months. More»
Mostafa Adel - 2014-03-26 14:21:26
The Egyptian Finance Ministry issued timetable for issuing governmental securities within the fourth quarter of the current fiscal year of 2013/2014, so the total issues reach up EGP205 billion compared to EGP203 billion in the last quarter. The total issued value of treasury bonds reached around 30% and it is the same rate of the last quarter and this meets with the governmental debt strategy that adapted by the Ministry for the lifetime of debts in order to avoid any risks of refinancing. The Ministry commits with the issuing strategy which it adopted since 2009 and creating pilot points from issuing bonds for 3-and-5 year and 7-and-10 year in addition to, Zero Coupon treasury bonds for 15 years. The lifetime of governmental securities rose to 1.72 years in the current month against 1.55 in December 2013 and 1.33 in December 2012, due to the general debt policy in issuing highly rates of bonds against bills. More»
Mostafa Adel - 2014-03-25 14:56:31
Egyptian Finance Minister, Hany Qadry will fly to Washington US by the next April in order to review the Egyptian economic conditions and opportunities. The Minister will discuss the reforms with major leaderships US firms which will be conducted by the government and the members of American Chamber of Commerce  by the upcoming of April. More»
Mohamed Hamdy - 2014-03-25 12:24:04
Egypt-based Social Fund for Development (SFD) signed on Monday a€95 million funding agreement with the French Development Agency (Agence Française de Développement AFD). The loan is designated to finance the SMEs enterprises in Egypt. Speaking to Amwal Al Ghad’s Arabic website, SFD’s Acting  Secretary General  Hanaa El Hilaly said as pursuant to the agreement, SFD will receive a €80 million loan in addition to a €15 million grant so as to finance SMEs projects. El Hilaly further noted that SFD is currently in talks with the World Bank over loan worth US$ 300 million, designed to finance labor intensive investment projects to create new job opportunities for the youth. Egypt’s SFD has recently signed an agreement with the European Union to obtain a grant at value of €70 million. In earlier statements, SFD’s former Secretary General Ghada Waly said the fund injected funding totaled around EGP 4.3 billion to the small and micro-sized projects during 2013. More»
Amwal Al Ghad English - 2014-03-23 08:18:56
On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91 and 266-day treasury bills worth EGP 5.5 billion. Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2 billion, whereas the second offering; the 266-day amounts to EGP 3.5 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, distributed as EGP 35 billion short-term treasury bills and EGP 34 billion long-term treasury bonds. The government is seeking to fill the state’s widening budget deficit which recently reached EGP 119.4 billion. More»
Moustafa Adel, Sayed Badr - 2014-03-20 12:25:10
Mr. Ibrahim Sarhan - Chairman and Managing Director of E-Finance Company revealed that the firm will build new headquarters on an area of 6000 meter in Smart Village / 6th October City. Sarhan has quoted Amwal Al Ghad that the initial cost of the new headquarters reaches up EGP70 million approximately. He noted that the headquarter owned by one of the governmental parties and it taken over by the state-owned company as well. The total Capital of E-Finance reached EGP120 million when it was established and it increased by EGP180 million to accommodate expansions of government in automating financial transactions of the state, Sarhan illustrated in a previous statement to Amwal Al Ghad. E-Finance needs further boost to its capital so as to expand abroad in exporting batteries, the other technological financial transactions, stressing that the owners will welcome any required increase in the capital. Meanwhile, E-Finance was established in 2005 as the market leader in the field of electronic payment. Operating in Egypt, e-finance provides state of the art electronic payment and its shares own and divided by National Investment Bank 70%, National Bank of Egypt 10%, Banque Misr10% and the Egyptian Banks Company (EBC) with 10%. More»