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

Amwal Al Ghad English - 2015-11-10 09:23:33
One of Egypt’s biggest institutional initiatives, Partnership for Development is launching Tuesday its third conference entitled “Leasing: A Catalyst promoting national projects and SMEs”. Under the auspices of a number of ministries and competent organisations, including the Egyptian Financial Supervisory Authority (EFSA), the conference will take place within the framework of the Egyptian authorities’ schemes to fund mega and SME development projects. The event aims to tackle the leasing sector’s importance as one of the most effective and capable funding mechanisms that would fulfill the financial needs of all the projects in Egypt, whether for corporate or SMEs. Local and regional officials as well as representatives of banking and international funding institutions will take part in the event. Additionally, the following sectors will be also present at the conference: industry, trade, transport, housing, communications and Information Technology, energy, and construction will also participate in the event. Participants are set to reach a vision aiming to present leasing as a more flexible funding solution to support and encourage plans and sustainable growth for all the economic sectors in Egypt. They will also discuss means to remove all the administrative, legal, regulatory, and tax obstacles hindering this vital funding mechanism to perform its role. Sherif Samy – Chairman of the Egyptian Financial Supervisory Authority (EFSA) – referred to a recent remarkable growing demand for the firms that are specialised in providing flexible financing leasing services. He said the leasing sector has registered a significant growth of 227 percent during the first seven months of the current year, with contracts worth 11.3 billion Egyptian pounds, noting that 25 active firms are currently working in the field. He asserted that the conference will take place in a very crucial time in order to enhance the growth of the leasing sector through holding active and serious transparent discussions between competent authorities in the shadows of the Egyptian economy’s urgent need of for unconventional funding tools. Furthermore, the conference will highlight the role of leasing activity in supporting the implementation of the national projects - announced by the government - through providing necessary finance for contracting firms working in different sectors. The Partnership for Development Initiative is the first of its kind in Egypt aiming to bolster a sustainable partnership between the private sector, the state, the civil society, and mass media.  This initiative holds a number of conferences and workshops annually to devise a position paper that plays a prominent role in identifying the government’s policies related to economy, legislation, laws, and measures to reform business climate in Egypt. It aims to reach a strategic vision for the shape of partnership between the government and the private sector in order to achieve comprehensive development goals. The Partnership for Development Initiative held its first series of conferences on April 19th, 2015; it aimed to reveal the details of the Egyptian Economic Development Conference’s real estate agreements. More»
Moustafa Adel - 2015-11-04 18:41:24
Cairo asserts once again its plans not to seek a loan from the International Monetary Fund following some reports signalling a potential loan agreement to support the country's budget deficit. Egyptian government is not seeking to obtain a loan from the International Monetary Fund (IMF), said deputy minister of finance for international affairs, Ayman Alkaffas, on Wednesday. Alkaffas has ruled out any current negotiations between Egypt and the fund to receive a loan, saying the IMF has asserted many times it is ready to provide any help needed “with all possible ways”. More»
Islam Abdelhameed - 2015-11-01 10:52:44
Families of pilgrims killed in the recent Mecca stampede are to receive compensations ranging between 5-7 million Egyptian pounds (US$622,510-871,514), the Egyptian Life Takaful Company – GIG’s official said Sunday. Hisham Abdel Shakour – GIG’s Managing Director – told Amwal Al Ghad that his company had already agreed with the Ministry of Interior Affairs to provide insurance coverage for the Egyptian pilgrims. Around 62,500 pilgrims enjoyed the GIG’s insurance policy, Abdel Shakour said. He added that GIG decided to increase the percentage of compensation in case of death or total disability by 30,000 pounds to reach 50,000 pounds for its policy. The death toll of Egyptian pilgrims in September’s stampede in Mecca increased to 177 according to the latest statement released by Egypt's consular-general in Jeddah. According to Saudi Arabia's authorities, the official death toll in the stampede has reached 769. More»
Al Zahraa Mostafa - 2015-10-31 13:28:49
Insurance companies in Egypt have registered a growth rate of 17.7 percent in premiums to record 11.42 billion Egyptian pounds (US$1.4 billion) in the first eight months of 2015, market regulator chief stated. Premiums stood at 9.7 billion pounds in the first eight months of 2014. Sherif Samy, Chairman of the Egyptian Financial Supervisory Authority (EFSA), said in a statement Saturday that new and valid issuances of life insurance premiums had reached 7.5 billion pounds by the end of August 2015, compared to 5.6 billion pounds in August 2014, marking an increase of 32.7 percent. Meanwhile, new and renewed issuances of non-live insurance premiums have witnessed a slight increase of 0.3% at August-end 2015, to register 4.12 billion pounds versus 4.1 billion pounds in August-end 2014. Moreover, cars insurance premiums have seized the biggest market share of non-life insurance during the first eight months of 2015 by 27.5 percent followed by fire insurance premiums that recorded 16.8 percent share then the health insurance that got 15.9 percent. More»
Amwal Al Ghad English - 2015-10-31 10:15:32
Standard & Poor's Ratings Services lowered Friday Saudi Arabia's long-term foreign currency sovereign credit rating to A+ from AA-, citing a widening budget deficit resulting from weaker oil prices. The ratings agency projected the country's fiscal shortfall will jump to 16% of gross domestic product this year from 1.5% in 2014. S&P said it expects Saudi Arabia to draw down its fiscal assets and issue debt to finance its deficit, though the country does not have much monetary-policy flexibility given the riyal's peg to the U.S. dollar. "The outlook remains negative, reflecting the challenge of reversing the marked deterioration in Saudi Arabia's fiscal balance," said S&P. More»
Mohamed Hamdy - 2015-10-27 11:17:52
Egypt’s Social Fund for Development (SFD) is to hold a high-profile conference inviting more than 29 global financial institutions in January 2016, the fund’s secretary-general Soha Soliman said Tuesday. Soliman told Amwal Al Ghad that the conference is tailored to highlight SFD’s financing needs as well as to showcase the fund’s planned projects in the coming period. SFD has decided to delay holding the conference until January to coincide with the fund’s Silver Jubilee Celebrations to mark 25 years of the inception. The SFD was established by Presidential Decree 40/1991 as a socio-economic safety net to combat unemployment, alleviate poverty, improve living conditions and help attain comprehensive socio-economic development More»
Amwal Al Ghad English - 2015-10-26 15:23:34
Global rating agency Moody’s said Egypt comes second place after Morocco, the biggest insurance market in North Africa, which is “a region that accounted for roughly 0.2% of global insurance premiums in 2014”. Moody’s held a roundtable held Monday in Cairo to discuss challenges, risks and growth opportunities for the Egyptian insurance market. In its latest report, Moody’s indicated that the future expectations for the insurance market in Egypt are “encouraging” despite challenges being faced by the country, the agency said in a report on Wednesday. More»
Mohamed Hamdy - 2015-10-26 13:59:01
Egyptian Social Fund for Development (SFD) has pumped nine-month finances worth 1.1 billion Egyptian pounds (US$136.9 million) into micro enterprises, Head of SFD for Microenterprises Sector Nevine Badreldin said Monday. Speaking to Amwal Al Ghad, Badreldin stated that the fund aims at increasing the volume of finances to 1.2 billion pounds at the end of 2015. Social Fund for Development has recently signed a contract worth 2 million pounds with one of businessmen associations. More»
Islam Abdelhameed - 2015-10-26 12:55:04
Egypt’s Wethaq Takaful Insurance has won a policy tender launched by the Tourist Villages Development Agency, an affiliate of the state-run New Urban Communities Authority (NUCA), broker Mohamed El-Ghadrify said Monday. El-Ghadrify further told Amwal Al Ghad that the insurance policy is with total sum insured of 50 million Egyptian pounds (US$6 million). The policy is one-year renewable term, tailored for providing protection against dangers of fire and incidents of theft to the agency’s machines, equipments, assets, and premises, El-Ghadrify added. Around 25 percent of the policy’s sum insured is dedicated to cover risks of riots as civil and labour strikes, the broker noted. More»
Al Zahraa Mostafa - 2015-10-25 13:18:00
Egypt’s Misr Life Insurance has registered a Y-o-Y growth of 2 percent in premiums to record 578.3 million Egyptian pounds (US$72 million) in the first quarter of the current fiscal year 2015-2016. During the first quarter of fiscal year 2014/15, Misr life reported premiums worth 566.7 million pounds. In a statement, the company said its individual insurance policies stood at 1.583 billion pounds by the end of September 2015 versus 1.260 billion pounds in the same period in 2014, marking a growth rate of 26 percent. Meanwhile, the total amount of corporate policies hit 20.100 billion pounds during the first quarter of fiscal year 2015/16, compared to 20.500 billion pounds in the same period last year. More»