amwalalghad :: Financial Institutions

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        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

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»
Islam Abd ElHameed - 2014-03-19 10:28:36
Arab Misr Insurance Group (GIG)  is planning to expand issuing agricultural insurance products in the Egyptian market within the coming period, Ali Bashandi. CEO - Reinsurance & Technical Affairs at GIG said. Bashandi has quoted Amwal Al Ghad that the clients will meet this type of insurance products with highly demand in the light of the direction of Agricultural Credit Bank (ACB) to impose mandatory on the farmers in order to get insurance policy to obtain loans. The mandatory imposition of these policies will help to raise insurance awareness for the high-category and this is a strong indicator for increasing the size of premiums, Bashandi noted. GIG started reconsidering the credit rating of the company, noting that it is scheduled to hold a joint meeting in Jordan by the end of March with A.M. Best to discuss the re-rating of the company. Furthermore, he illustrated that this study includes preparing the financial data of the company, along with its market share in the Egyptian Insurance sector, adding that GIG hopes to keep up the previous rating ‘BBB’, explaining that it is a good indicator for the company’s performance. More»
Amwal Al Ghad English - 2014-03-18 14:43:46
Qatar National Bank SAQ, the state-controlled lender, boosted holdings of Egyptian treasury bills last year even as relations between the governments soured after the Muslim Brotherhood was toppled. Qatar National Bank Alahly, bought by QNB three months before the overthrow of former President Mohamed Morsi in July, increased ownership of the securities by 29 % to LE 15.7 bln (USD 2.3 bln) at the end of the year, according to earnings statements. The average yield on six-month bills was 10.65 percent at an auction last week, almost 12-times higher than similar debt of Qatar. “It’s purely a business decision,” Mohamed Abu Basha, a Cairo-based economist at EFG-Hermes Holding SAE, Egypt’s biggest investment bank, said by phone March 12. “Without much lending going around, that’s the way to park your money and get the decent return.” Rising Egyptian yields helped bank earnings as lending to private businesses and consumers grew at the slowest pace in at least three years amid sluggish economic expansion, according to central bank data. Qatar, which backed the Mursi government, has denounced the crackdown on the Muslim Brotherhood, provoking Persian Gulf neighbors Saudi Arabia, the United Arab Emirates and Bahrain to withdraw their ambassadors from the world’s biggest producer of liquefied natural gas. An official at QNB, the largest Arab bank, didn’t return an e-mail and phone call seeking comment. QNB Alahly, formerly known as National Societe Generale Bank, referred questions to its parent company. Tripling Holdings The unit’s T-bill holdings increased 12 % from the third quarter to a record. The lender also more than tripled holdings in Egyptian Treasury bonds to more than 10 billion pounds at the end of the year. Qatar extended Egypt USD 8 bln in aid before the military-backed overthrow of the Mursi government. Since, Egypt returned USD 2 bln of the emirate’s deposits as Saudi Arabia, the U.A.E. and Kuwait pledged USD 15 bln to the new government. Qatar’s neighbors, keen to maintain stability in the wake of the so-called Arab Spring, are critical of the gas-rich nation’s support for the deposed Muslim Brotherhood and withdrew their ambassadors March 5. Qatar’s Foreign Minister Khalid bin Mohamed Al-Attiyah said March 11 the country’s foreign policy “isn’t negotiable.” Saudi Arabia’s Foreign Minister Prince Saud al-Faisal said the diplomatic dispute is unlikely to be resolved unless Qatar modifies its policy, the London-based Al Hayat newspaper reported today. Slower Pace QNB Alahly increased its Egyptian T-bill holdings at a slower pace then other Egyptian lenders. The North African nation’s private banks raised their ownership in the securities by 33 % over the course of the year. The average yield on the six-month bills has declined 418 basis points from last year’s high in July amid signs of increased political stability, according to data compiled by Bloomberg. Voters approved a new constitution in January and the military endorsed a possible presidential bid by Defense Minister Abdel-Fattah al-Seesi. That’s helped push Egypt’s benchmark stock index 20 % higher this year, making it the fourth-best performer globally. Economic growth in the country may accelerate to 2.8 percent this year, the fastest pace since 2010, according to the median estimate of 16 forecasts on Bloomberg. QNB completed the purchase of the Egyptian bank from Societe Generale SA at the end of March 2013 and now holds 97 %, accowerding to data compiled by Bloomberg. “QNB’s business prospects are now better in Egypt considering a gradual political stability and slow recovery of the economy,” Commerzbank AG analyst Apostolos Bantis said by e-mail March 5. More»
Al-Zahraa Moustafa - 2014-03-18 13:53:07
Misr General and Property Insurance succeeded in achieving EGP2.641 billion size of direct premiums during the first 8 months of the current fiscal year of 2013/2014 , compared to EGP2.5 billion during the corresponding period of the previous fiscal year with 6.6%  growth rate. The company explained in a statement today that the reinsurance premiums of first 8 months reached EGP295.8 million, against EGP278.5 million in the same period, with 6.2% growth rate. It added that the total value of direct paid compensations for clients fell by EGP1 billion in the last 8 months compared to EGP1.2 billion in the same period of the previous fiscal year, with 10.1% decline. Moreover, Misr Real Estate Assets company attained EGP114.9 revenues within the first 8 months of the current fiscal year of 2013/2014, compared to EGP98.7 million in the corresponding period of the last year, with 16.5% growth rate. More»
Islam Abd ElHameed - 2014-03-18 12:06:51
Wael Abdul-Mohsen, Vice President of Sales & Marketing at Arab Orient Insurance Company said his company succeeded in catching the insurance policy of IKEA Egypt for Home Furnishings and Accessories Company with EGP650 million total insurance amounts. Abdul-Mohsen has informed Amwal Al Ghad that Policy involves the coverage of all risks of IKEA’s branches in Cairo Festival City  including fire, burglary, stressing that the policy for one year. The policy also will cover all the natural hazards such as earthquakes and volcanoes , beside covering water pipes burst , in addition to the risks of business interruption along with civil responsibility. More»