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        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        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

Islam Abdelhameed - 2014-08-19 11:47:47
Gras Savoye Egypt – Insurance Broker has decided to postpone its expansion plan to the conflict-torn Libya, managing director Hamed Mabrouk told Amwal Al Ghad on Tuesday. Citing the unstable political and security situation in Libya, Mabrouk announced the postponement decision. However, he expressed his optimism towards the revival of the Libyan insurance sector as soon as the country restores its stability. The ongoing conflict in Libya as militant fighting intensifies, has led thousands of Egyptian nationals to flee the country. Meanwhile, Gras Savoye Egypt is planning to inaugurate its branch in Kuwait within next September, Mabrouk noted, describing it as one of the most promising insurance markets in the region. He further referred that Egyptian insurance activities have great presence in Kuwaiti market; therefore, establishing an Egyptian insurance broker in Kuwait was pivotal. Moreover, Mabrouk said Gras Savoye Egypt's upcoming branch in Kuwait would be the third in the region after inaugurating two offices in the Sudan and Jordan. More»
Alzahraa Mostafa - 2014-08-19 11:44:39
Egyptian Takaful Insurance Property's profits increased by 47.9% to become EGP25 million at the end of June 2014 in compared to EGP16.9 million at June-end of 2013, Managing Director Ahmed Arfeen revealed. In statements to Amwal Al Ghad, Arfeen noted that the Surplus activity surged by 44.9% to become EGP40 million during the last fiscal year of 2013/2014 against EGP27.6 million, stressing that the Customers' share from surplus amounted to EGP12 million. The total value of policyholders' rights reached EGP207.9 million at June end in compared to EGP150.9 million at June 2013, whereas the shareholders' rights up to EGP124.6 million  in the same period in compared to EGP110.2 million, Arfeen explained. More»
Amwal Al Ghad English - 2014-08-19 09:23:54
A.M. Best, the world's oldest and most authoritative insurance rating and information source, will participate in the 30th General Conference of the General Arab Insurance Federation (GAIF), to take place 1-4 September in Sharm el Sheikh City, Egypt. Roger Sellek, Chief Executive Officer - A.M. Best EMEA & Asia-Pacific, Nick Charteris-Black, Managing Director, Market Development - A.M. Best EMEA, and Vasilis Katsipis, General Manager - A.M. Best MENA, South and Central Asia, will be in attendance at the conference. Dr. Roger Sellek said, "The MENA region remains very important to A.M. Best, since we have clients across many member countries of the GAIF. A.M. Best congratulates GAIF on reaching this commendable milestone of its 50th Anniversary and looks forward to continuing to engage in discussions with members and the broader insurance market on ideas and perspectives of importance to GAIF." Marking its Golden Jubilee, this GAIF 2014 conference is expected to attract a wide range of insurance professionals across MENA and beyond. A.M. Best will be holding scheduled business meetings at the conference. To arrange a meeting, please email charlotte.jackson@ambest.com. A.M. Best is the leading provider of financial strength ratings, issuer credit ratings and debt ratings for insurers worldwide.
Amwal Al Ghad English - 2014-08-19 08:28:13
Egypt's top steel manufacturer Ezz Steel announced consolidated net loss of EGP20.2 million in the first quarter of 2014, compared to a net profit of 371.6 million in the same period of the previous year, according to a statement the company released on Monday. Egypt's top steel manufacturer Ezz Steel announced consolidated net loss of EGP20.2 million in the first quarter of 2014, compared to a net profit of 371.6 million in the same period of the previous year, according to a statement the company released on Monday.The company’s standalone financial results for the same period mirrored EGP 45.4 million net loss, compared with EGP 26.4 million net loss in Q1-13. FY13 consolidated net profit had amounted to EGP 533 million, compared with EGP 250.4 million a year earlier. The company's outlook suggests that a "return to political stability" and investments in infrastructure should offset price increases of utilities, the statement said. More»
Sayed Badr - 2014-08-18 14:17:44
Metropolitan Consulting S.A.E signed EGP9 million finance for Unlimited tours firm. Dr. Khaled Nagaty – the CEO of Metropolitan said the contracts signed during the last week by E-Finance through leasing mechanism. Unlimited tours is one of global European Car Group which eyes through the finance buying 45 cars in order to increase the volume of business. The total funds which provided by Metropolitan are more than EGP580 million and it eyes boosting its finance to more than EGP1.5 billion by the end of the current year. More»
Alzahraa Mostafa - 2014-08-18 13:39:18
Suez Canal Insurance Company attained EGP35.828 million net profits at the end of the last fiscal year 2013/2014 compared to EGP29.129 million in the previous fiscal year, registering 22.9% growth rate, Ahmed Shehab , General manager revealed. In statements to Amwal Al Ghad, Shehab explained that the total value of premiums are EGP408 million in the last FY against EGP361 million attained premiums in June 2013, with 13% growth rate. The total value of paid up compensations for customers up to EGP136 million at June-end in compared to EGP218 million during the last fiscal year, with 37.6% decline, stressing that compensations under settlements are EGP60.531 million at June 2014. Suez Canal's investments decreased to EGP586 million at June 2014 against EGP611 million at June 2013, retreating with 4%, while the company's assets reached EGP890 million at June 2014. Moreover, shareholders' rights registered EGP170.4 million at June 2014 in compared to EGP165 million at June 2013, while the technical allocations are EGP260 million at the same period of this year against EGP234 million at 2013. More»
Amwal Al Ghad English - 2014-08-18 13:15:38
Egypt’s Finance Minister Hani Qadry Dimian has negated media reports about intentions to resume talks with the International Monetary Fund (IMF) over a loan worth $10.4 billion. In a statement on Monday, the minister said Egypt is keen on continuing ties with the fund and the World Bank, adding that the government will maintain its cooperation with the fund in technical support and financing of infrastructure projects. Egypt’s government invited the IMF to send a delegation before the end of 2014 to conduct regular consultations over the country’s economic position, the minister noted. More»
Wael Al Tokhy - 2014-08-17 14:54:29
The Middle East and North Africa region received $2.5 billion in funding from the International Finance Corporation (IFC), a World Bank affiliate, in 2013, said IFC General Manager Mouayed Makhlouf. The IFC funded private sector projects in various fields including infrastructure, energy, and small and medium enterprises. Egypt received the largest proportion of funding in the region, approximately $1 billion, said Makhlouf. According to Makhlouf, “a loan worth $65 million was provided to one real estate investment company in order to construct a mall in 6th of October City.” The IFC is currently considering providing funds for two projects, Makhlouf said, who declined to disclose the targeted amount of funding. The Information Technology Industry Development Agency (ITIDA) signed a cooperation protocol with the IFC on Sunday in order to strengthen the competitiveness of workers in the sector. The IFC will provide up to 65% of the funding for this project, while the other 35% is funded by the ministry. Makhlouf said that Egypt’s labour market requires large amounts of capital to be funneled into training programs in order to bridge the gap between market requirements and worker skills. Egypt’s total labour force numbers 27 million and 300,000 graduates enter the market annually according to the Central Agency for Public Mobilization and Statistics. The agency stated that inflation reached 13.3% during the second quarter of this year. Last month the World Bank agreed to provide a loan worth $300 million to the Ministry of Industry and Foreign Trade to fund small and medium enterprises. The bank provided a loan valued at $500 million to the Ministry of Petroleum in order to provide natural gas to 700,000 homes during the 2013/2014 fiscal year. “Egypt will attract investments in the coming period due to the development projects that the government plans to launch soon,” Makhlouf said. More»
Islam Abdelhameed, Alzahraa Mostafa - 2014-08-17 13:53:29
Mohandes Insurance and property Company is aiming boosting its investment portfolio to EGP1.08 billion by the end of the current fiscal year 2014/2015, Reda Fathy, Managing Director said. Speaking to Amwal Al Ghad, Fathy explained that the company's total investments value are around EGP1 billion at the end of last March with returns volume ranging between 7.5% to 10% through various investment portfolio in all different investment channels and fields. Mohandes has about 7.5 stakes in the Egyptian Exchange (EGX) and it has not any intentions to increase selling by the upcoming period, Fathy added. Moreover, the company achieved EGP161 million premiums in property sector at the end of the last year 2013/2014 and it is targeting boosting it to EGP200 million in this fiscal year and this is a strong index for the company's ability to underwrite. More»
Islam Abdelhameed - 2014-08-17 09:16:55
Egypt's Suez Canal Life Insurance Company plans to boost its capital by 10 million Egyptian pounds by end of the current year, said managing director Ahmed Shoukry. Speaking to Amwal Al Ghad on Sunday, Shoukry stated that the company's capital will grow to 40 million Egyptian pounds by end of 2014, to strengthen its balance sheet and fund expansion. The Egyptian official further noted that his company's issued capital stands at 60 million Egyptian pounds and will be boosted in the coming two years through pumping 10 billion pounds as capital top-up each year. By end of 2015, Suez Canal Life Insurance is targeting strengthening its presence in Egyptian market by increasing its network of branches to 20 from its existing 13, he added. Aiming to allure new clients, Shoukry referred that the insurance company aims to apply the bancassurance system within coming phase, through reaching its first alliance with one of the banks operating in the local market. More»