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        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        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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 - 2015-05-30 09:33:09
Greek bank deposits have fallen to their lowest level in more than 10 years, as concerns persist over the country's debt burden and possible exit from the euro. Deposits stood at €139.4bn (£100bn) in April, a 3.9% decline on the previous month, according to the European Central Bank. The data include all deposits by households and companies in Greece. Its banks have struggled to hold on to deposits during the debt negotiations. Greece's falling reserves have prompted calls for capital controls from some experts and an opposition MP. However, government spokesman Gabriel Sakellaridis on Monday rejected the idea. More»
Amwal Al Ghad English - 2015-05-28 07:40:50
The head of the International Monetary Fund (IMF) said in a German television interview on Thursday that there was still a lot of work to do before Greece and its international lenders could clinch a cash-for-reforms deal. "We are all in the process of working towards a solution for Greece and I would not say that we already have reached substantial results," IMF Managing Director Christine Lagarde told ARD television in comments which were translated from English to German. More»
Amwal Al Ghad English - 2015-05-27 09:05:50
China pushes to win an arcane currency status bestowed by the International Monetary Fund, that is driving policy makers in Beijing to ease capital restrictions. Board members of the IMF will vote this year on whether to add the yuan to its Special Drawing Rights basket along with the U.S. dollar, euro, yen and British pound. An IMF mission in China Tuesday said it will work closely with authorities toward inclusion, which is “not a matter of if but when.” The SDR, an accounting unit usually deployed in bailout packages, would deliver few direct benefits to China’s 1.3 billion people. But on Beijing’s streets and in the popular press, the issue is being followed, with taxi driver Wang Jiansheng saying the yuan’s fate is “definitely important” to China’s future and his own. “Internationalization of the renminbi means that foreign tourists in Beijing could use it in a more convenient way,” he said, using the yuan’s alternative name. “It’s good for us.” More»
Amwal Al Ghad English - 2015-05-27 08:37:56
Tax return information for about 100,000 U.S. taxpayers was illegally accessed by cyber criminals over the past four months, U.S. IRS Commissioner John Koskinen said on Tuesday, the latest in a series of data thefts that have alarmed American consumers. From February to May, attackers sought to gain access to personal tax information 200,000 times through the agency's "Get Transcript" online application, which calls up information from previous returns, he told a news conference. About half of those attempts were successful. The breach did not affect any IRS data outside the "Get Transcript" application, and the agency said it would strengthen its security measures. More»
Hesham Ibrahim - 2015-05-26 11:23:23
Italian lending agencies have decided to raise the credit line for financing Italian investment projects in Egypt to €10 billion, the Egyptian trade minister Mounir Fakhry Abdel Nour announced Monday. The Italian lending agencies include Italian banks and the Italian Loan Guarantee Fund.The minister said the projects, which were agreed upon at Egypt Economic Development Conference held in Sharm El-Sheikh last March, pertain to petrochemicals, engineering, transportation, energy, and infrastructure. The minister’s remarks came at a meeting with Carlo Kalinda, Italian Deputy Minister of Economic Development, who is heading a delegation of 24 Italian companies visiting Egypt. He said the Italian company Danieli has expressed a desire to build a factory for heavy equipment in Egypt to serve the iron and steel factories in Egypt and the Middle East. “We are currently allocating the land for the factory,” he said. For his part, Kalinda said the Italian government encourages Italian companies to participate in tenders put up by the Egyptian government and finances their projects. More»
Amwal Al Ghad English - 2015-05-24 10:20:11
The International Monetary Fund criticized on Sunday Egypt’s decision to delay imposing capital gains tax on stocks because it means that the cost of shoring up public finances will be borne by “people who are less able to afford it.” “We are disappointed that the capital gains tax has been postponed,” Chris Jarvis, the lender’s Egypt Mission Chief, said in an e-mailed response to Bloomberg’s questions. “This was a tax which raised needed revenue and which was fair.” Egypt’s benchmark EGX 30 Index for equities climbed the most in almost two years on May 18 after the decision to postpone the 10 percent tax for two years, which officials say aimed to make the stock market more competitive. The government has struggled to raise more money from wealthier Egyptians as it seeks to narrow one of the biggest budget deficits in the Middle East. In March, officials canceled a 5 percent surcharge on the highest-earners, just nine months after it went into effect. They also reversed an increase in the top rate of income tax introduced in 2013. Postponing the capital gains tax “will mean that more of the cost of reducing the budget deficit will now be paid by people who are less able to afford it,” Jarvis said. Egypt reached two initial loan agreements with the IMF since the 2011 uprising that toppled former President Hosni Mubarak before withdrawing the requests. It turned instead to its Gulf Arab allies for billions of dollars to meet its financing needs. More»
Mohamed Hamdy, Enas Shaban & Sanaa Allam - 2015-05-20 17:45:14
The French Development Agency (AFD) has given initial preliminary approval to secure a new finance worth €40 million to Egypt’s Social Fund for Development (SFD), the Egyptian fund’s secretary-general announced Wednesday. Speaking to Amwal Al Ghad on Wednesday, SFD’s secretary general Soha Soliman said the AFD finance aimed to give financial support for all the technical and vocational sectors in Egypt.The Social Fund for Development (SFD) was established by a Presidential Decree in 1990, in collaboration with the World Bank and UNDP, the European Union and three Arab Funds, mainly to mobilise national and international resources to be used for human development. SFD could secure US$1,550 million donations and soft loans. It facilitates and supports the economic reform programme and mitigates its adverse effects on vulnerable and low income population groups. It helps to mitigate poverty and reduce unemployment by providing new job opportunities through financing small enterprises and by offering donations for community development and infrastructure works.SFD was regarded as a social safety net associated with the Government of Egypt's agreement to undertake its extensive Economic Reform and Structural Adjustment Programme. More»
Mohamed Hamdy, Enas Shaban & Sanaa Allam - 2015-05-20 17:16:41
Egypt’s Social Fund for Development (SFD) is looking forward to a new loan from the World Bank Group at value of US$500 million, the fund’s secretary-general Soha Soliman told Amwal Al Ghad Saturday. Soliman stated that the targeted loan would go for financing al the small, micro-sized, and community development projects. The World Bank Group’s financing programme has served more than 130.000 small and micro-sized projects, to contribute to providing considerable investment opportunities for the country’s private sector and creating thousands of job vacancies for youth. More»
Islam Abdelhameed & Al Zahraa Mostafa - 2015-05-19 14:33:00
In Egypt, the insurance sector contributes one billion Egyptian pounds (US$131 million) out of 90 billion worth of the health and medical treatment, Medmark’s managing director Walid Auf said Tuesday. Medmark is a market pioneer in the management and promotion of global medical assistance, and health and life insurance services in Egypt. In his keynote speech at the Regional Insurance Brokers Congress (RIBC), Auf said the insurance sector’s humble contribution to the medical treatment file paves the way for the insurance firms to increase their portfolio of health insurance in the upcoming phase. He further referred to the multiple obstacles facing Egypt’s health insurance sector, represented in a number of complicated procedures required to issue a health insurance policies, in addition to the brokers’ low participation. More»
Islam Abdelhameed & Al Zahraa Mostafa - 2015-05-18 10:52:26
The First Regional Insurance Brokerage Congress (RIBC) has launched today in Cairo. The congress is hosted and organised by the Egyptian Insurance Brokers Association (EIBA), under the auspices of Egypt’s market regulator, the Egyptian Financial Supervisory Authority (EFSA) in collaboration with the Insurance Federation of Egypt, the Arab Insurance Brokers’ League, General Arab Insurance Federation (GAIF), and the Mediterranean Federation of Insurance Brokers (FMBA). RIBC is a newly established gathering of insurance brokers that will be held on regular basis every two years. The media sponsorship of the two-day event will be provided by Amwal Al Ghad economic magazine. This congress will cover most of the technical, logistics and regulations issues, which are common between the insurance brokers and their stakeholders’ insurers, reinsurers, risk managers. It will highlight the opportunities to engage a new generation of businesses through the new products and access the digital era. The ultimate aim of this congress RIBC is to initiate a global network connecting brokers & stakeholders to exchange experiences, ideas and the latest developments in the industry. One of the most recent developments that would like to share is EIBA initiative to draft a unified standard contract between brokers and insurance companies which entailed a long process of discussions and negotiation with all relevant partners Insurance Federation of Egypt (IFE) and The Egyptian financial supervisory authority (EFSA). Moreover, the congress is set to discuss five major topics; the need for a standard contract between Brokers and insurers in developing markets, E-Broking - Leverage the opportunities in Technology and E-trading for insurance brokerage growth, the role of insurance brokers in the Microinsurance: Opportunities and Challenges, the renewable energy insurance (solar energy as an example): The risks the brokers should know, and the role of insurance brokers in developing health insurance marketplace. More»