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

Amwal Al Ghad English - 2014-09-30 14:42:36
Egypt’s Delta Insurance Company will be holding an extraordinary meeting today to discuss the inception of a new mutual fund for cash liquidity. In addition, an ordinary general meeting will be held on the same day to endorse financial results, in addition to proposed dividend payout at EGP 0.70 per share, for the fiscal year that ended on June 30, 2014. The board ratified consolidated and standalone financial highlights for the fiscal year that ended on June 30, 2014. Consolidated net profit after tax amounted to EGP 24.2 million (US$3.4 million), with a decline by 10% compared with EGP 27 million a year earlier. Meanwhile, standalone net profit amounted to EGP 19 million (US$2.6 million), compared with EGP 23.2 million in FY12/13.   Financial results for the nine-month period that ended on March 31, 2014 had shown a fall by 10% in net profit to EGP 19.4 million, from EGP 21.5 million in the same period a year earlier. More»
Al Zahraa Mostafa - 2014-09-30 12:24:16
Misr Non-life Insurance Company has won the insurance policy for the biggest state-owned bank, the National Bank of Egypt’s ATMs, sources with knowledge of the talks said. Speaking to Amwal Al Ghad, the sources stated that the insurance policy is estimated at 245 million Egyptian pounds (US$34.25 million), and is a one-year renewable term. As pursuant to the insurance policy, Misr Insurance will provide insurance coverage to the NBE’s nationwide ATMs against all risks of fire dangers, burglary and other dangers related to the ATM’s bodies. More»
Sayed Badr - 2014-09-29 13:59:38
Egypt’s Minister of International Cooperation Naglaa El-Ahwany is holding talks with the French Development Agency (Agence Française de Développement AFD) to get new loans totalling €135 million. Out of €135 million loans, Egypt is seeking to obtain a €70 million financing from the AFD to fund the project of delivering natural gas to homes across the country. The negotiations also involve obtaining a €50 million loan from the French agency to finance the third phase of the Environmental Pollution Abatement Project. In addition, Egypt is aiming to get a €15 million grant in favour of the Egyptian Social Fund for Development (SFD) in addition to other projects in areas of renewable and new energies and transportation. In this respect, the Egyptian minister has received AFD’s new director, reviewing means of bilateral cooperation between Egypt and the agency. Since inception in January 2007, AFD has so far financed a number of pivotal projects in Egypt at total value of €680.7 million, including €676 million in loans and €4.7 million in grants. Among projects financed by the AFD in Egypt are €80 million loan for SFD’s small and micro-sized projects, €30 million loan for small and medium agricultural projects, the project to improve drinking water and sanitation services (€40 million loan for Phase I and €57 million for Phase II), the Cairo Metro project’s third line (€300 million loan for Phase III and €44 million for Phase II), and €40 million for the Industrial Pollution Control Project – Phase II. More»
Amwal Al Ghad English - 2014-09-29 11:27:50
Egyptian Finance Minister Hany Kadry said the government is seeking to issue a decree over transiting all the car purchases to be powered by natural gas. In the Tenth Money and Finance Conference Cairo 2014, Kadry added that the government will repair bolstering energy through various axes, stressing that the rise of prices will take place but the government is aiming to make it gradual and diversify energy sources using solar energy, wind energy and waste and coal. Bureaucracy hampers the investment climate and the government targets to improve the business climate with the participation of citizens, who are partners in the fight against government corruption, Kadry noted. More»
Amwal Al Ghad English - 2014-09-27 08:53:10
Egyptian  Finance Ministry has completed preparing the citizen's budget to explain the state budget law for current fiscal year 2014/2015, with the aim of simplifying the budget to citizens. Minister of Finance Hany Kadry Dimian asserted that the reason behind issuing this budget is to make citizens involved in formulating the financial policies and their tendencies. The minister noted that a website on this budget would be launched for allowing citizens to express their opinions about the government policies via conducting opinion polls. He also added that a press conference would be held in this regard. Moreover, Kadry also said that the state budget of current fiscal year includes a number of reforms that are expected to achieve financial surplus of about EGP 84.9 billion. More»
Amwal Al Ghad English - 2014-09-25 07:38:39
 Egyptian Finance Ministry said the government is aiming to borrow EGP79.5 billion from the local market before the end of September 2014. The government is targeting to issue treasury bills and bonds with an increase by EGP 1 billion compared to the plan for Q1of the current fiscal year and by EGP 17.5 billion compared with September 2013. Meanwhile, the country’s public debt has neared EGP 2 trillion, amid worries it may increase. The ministry has targeted a financing plan of EGP 220 billion in Q1-14/15; EGP 78 billion in July, EGP 63.5 billion in August and EGP 78.5 billion in September. More»
Amwal Al Ghad English - 2014-09-22 09:32:40
 The financial statements of Mohandes Insurance Company Egypt revealed that the company attained EGP15.1 million within the fiscal year which ended on June30 against EGP11 million during the last year, move up by 37% profits. The board of directors of the company has approved the business results of the first 9 months of July 2013 and until March 2014. Moreover, Mohandes achieved EGP17.3 million net profits in compared to EGP14.1 million in the same period of the FY12/13, registering 23% increase. More»
Islam Abdelhameed - 2014-09-21 12:21:44
Twelve insurance companies operating in Egyptian market have bought EGP 549 million worth of investment certificates to finance the country’s new waterway project along the Suez Canal. In addition, the Insurance Federation of Egypt (IFE) has also purchased EGP 33.5 million worth of the new Suez Canal investment certificates. Therefore, the total contribution of the insurance sector in Egypt to the national Suez Canal project would reach up to EGP 582.5 million. Another contribution was made by Misr Insurance Holding Company, yet the company said the value of purchased certificates will be disclosed later through a statement from the Ministry of Investment. According to the experts, the vital role played by the insurance sector in Egypt will not only be in form of buying the investment certificates, but also in form of providing the insurance cover for both the project and the employees working on it. In the same vein, the chairman of Delta Insurance Company El-Sayed El-Gohary stated that the insurance companies’ investments in the new Suez Canal project come as part of their national duty towards boosting the country’s economy. He also referred to the high interest rates of the Suez Canal investment certificate, which amount to 12%. The Egyptian official further stated that the insurance firms’ contribution come as a part of their national role in supporting the national economy. In case of launching new investment certificates to finance the country’s electricity shortage, it is expected to witness higher turnout among the insurance companies, he added noted. The new Suez Canal project aims to attract more ships and boost the country’s income. Egypt’s Suez Canal brings in US$ 5 billion annually and is a major contributor to Egypt’s economy, which was suffered since the 2011 revolution. The table below shows the names of the 12 insurance companies invested in the second Suez Canal project: More»
Amwal Al Ghad English - 2014-09-20 11:55:29
Fitch Ratings Inc. affirmed its Triple-A rating for the U.S., citing the nation's "unparalleled financing flexibility as the issuer of the world's pre-eminent reserve currency and benchmark fixed-income asset, and as home to the world's deepest and most liquid capital markets."Fitch has a stable outlook for the U.S. The rating firm said "renewed brinkmanship over the federal debt ceiling is possible in 2015, although its suspension in February 2014 was in a timely manner and in a way that avoided casting uncertainty over the full faith and credit of the U.S." In March, Fitch affirmed its rating for the U.S. and removed it from Rating Watch Negative. On Wednesday, Moody's Investors Service reiterated its triple-A rating for the U.S. and said the country's outlook remained stable, but it warned that the rating could be pressured by higher costs for social programs like Medicare and Social Security. Attention on U.S. debt ratings has remained high since August 2011, when Standard Poor's Ratings Service, took the unprecedented step of downgrading long-term U.S. debt. In June, S&P reiterated its AA+ rating for the U.S. More»
Amwal Al Ghad English - 2014-09-20 09:04:22
Egyptian Government will borrow EGP6 billion tomorrow from the banks operating in the market in the form of short-term debt instruments. It is schedule that the Finance Ministry will offer treasury bills worth EGP2.5 billion per day through the Central Bank of Egypt (CBE). More»