amwalalghad :: Financial Institutions

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        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        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        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        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        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        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        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 - 2014-07-14 13:07:50
Managing Director of Arab Orient Takaful Insurance Mr. Mohamed Abdel Gawad said his company has pumped EGP22 million as an increase of its paid up capital to reach up EGP100 million. Speaking to Amwal Al Ghad Abdel Gawad explained that shareholders have injected this increase entirely, noting that EGP35 million pumped during the last year through 3 phases. Arab Orient finanlised inaugurating 2 new branches in Heliopolis and Port Said. The company postpones the cooperation with the banks to promote its insurance products as this marketing field has a highly cost for the company in the light of the current economic conditions Abdel Gawad added. It is expected that the insurance sector will witness prosperity due to the political and economic stability that led to the improvement of economic conditions , the entry of fresh investments in addition the contribution in increasing the size of insurance premiums. More»
Mohamed Hamdy - 2014-07-14 11:37:23
The Egyptian Social Fund for Development (SFD) has spent about EGP 850 million supporting small enterprises in the country over the past six years. In Q1/2014, SFD's total finances for the small enterprises in Egypt reached EGP 350 million. In this respect, Nevine Gamea - Head of SFD’s Central Sector for Small Enterprise Finance – told Amwal Al Ghad – that the fund targets pumping financing totalling EGP 1.630 billion in small enterprises in the country by the end of 2014. The Egyptian fund has recently signed with the country's biggest state-owned bank the National Bank of Egypt (NBE) an EGP 135 million contract to finance small enterprises. Therefore, NBE's total deals with SFD surged to EGP 7.5 billion. Over the last three years, SFD spent EGP 4 billion to support around 48.6 thousand small projects and EGP 1.970 billion to support 449 thousand micro-sized projects. Since inception in 1992 with a mandate to reduce poverty, the Egyptian Social Fund for Development has pumped more than EGP 20 billion to support national economy. Until 2013-end, SFD has provided 1.92 million small and micro-sized enterprises with over EGP 17 billion finances in addition to EGP 3.5 billion in favour of infrastructure and community development projects. . More»
Alzahraa Mostafa - 2014-07-13 12:42:17
 CEO of Allied Arab Assurance Company (AAA) Hazem Dawood revealed that his firm succeeded in assigning the insurance policy of one of Foodstuff factories and juices in favor of AIG Insurance. Speaking to Amwal Al Ghad, Dawood added that the total insurance amounts of foodstuff factory policy are EGP220 million. The policy includes covering all the buildings and properties risks that affiliated to the factory. More»
Islam Abdelhameed - 2014-07-13 11:57:57
Senior sources revealed that 6 insurance companies are competing to provide offers for Al-Nouran Sugar firm regarding its new factory's policy in Sharkia  governorate with EGP2 billion total insurance amounts. Previously, Bank Audi , Banque Misr, and Abu Dhabi Islamic Bank have finalized  from submitting information memorandum regarding the Islamic Sharia-compliant finance with value of EGP 1.5 billion for Al-Nouran Sugar company. In a statements to Amwal Al Ghad the sources explained that the insurance companies include  Misr insurance, Suez Canal Insurance, Arab Misr Insurance Group GIG along with Delta, Mohandes and Allianz Insurances. The policy includes covering all the engineering risks concerning construction and building of the new factory in addition contractors risks and political violence risks. Meanwhile,  Al-Nouran Holding Company is an importer, exporter, marketer and distributor of goods; mainly raw materials and white sugar. Al-Nouran Sugar Company received the Industrial Development Authority’s approval over the establishment of a factory in Salhia City in Sharkia Governorate in the third quarter of 2010. More»
Amwal Al Ghad English - 2014-07-13 10:04:14
Egyptian Cabinet Spokesman Ambassador Hossam Al-Qaweesh underlined that the recent economic reform decisions, in terms of reducing energy subsidy, came out of keenness on the nation's best interest and without any foreign dictations or pressures. Qaweesh ruled out that the International Monetary Fund (IMF) has any role in the issuance of these decisions, noting that the government has never discussed or sought to obtain a loan from the IMF. The Ambassador noted that the step to amend the energy prices was late for 40 years, noting that this isn't an easy measure and reflects the government's courage and that its hands are not shaking. Qaweesh also noted that the reform decisions were supported by President Abdel Fattah al Sisi, noting that their impact will be manifested soon in the launching of a number of services and development projects. He explained that Egypt's credit rating starts to rise and was positively reflected on the bourse performance last week. It will also encourage investors to pump more funds in projects inside Egypt and are designed to offer thousands of jobs. The Spokesman made clear that this reform step is not against the poor, but rather designed to serve them. Meanwhile, Prime Minister Ibrahim Mehleb gave directives to services sectors ministers to be present in various governorates for one day on a weekly basis, given that the governors will work out reports on the problems facing their governorates and proposals to handle them. More»
Al Zahraa Moustafa - 2014-07-12 12:21:53
Misr Insurance Company has renewed an insurance policy for UAE Etisalat's Egyptian arm, at a total value of EGP 10 billion, said a senior source from the teleco firm. The source further told Amwal Al Ghad that the policy covers the whole group against risks of fire, breach of trust, money transfer, and internal transport alongside political violence. MIC would also provide motor insurance coverage for Etisalat Misr's cars until the beginning of next August, the source noted. More»
Moustafa Adel - 2014-07-12 09:39:06
Egyptian Ministry of Finance will launch new short term Treasury bills (T-bills) worth 5.5 billion Egyptian pounds (around US$769 million). Bids will be held in two tranches, in collaboration with the Central Bank of Egypt (CBE). The government is offering T-Bills totalling EGP 5.5 billion on Sunday, of which EGP 2 billion will mature in 91 days and EGP 3.5 billion will mature in 273 days. As pursuant to the state's new budget for fiscal year 2014/2015, the deficit registers 240 billion Egyptian pounds ($33.57 billion) or 10 percent of gross domestic product (GDP). More»
Alzahraa Mostafa - 2014-07-10 12:36:07
Suez Canal Insurance Company eyes attaining EGP450 million premiums within the new current fiscal year of 2014/2015 Ahmed Shehab, general manager of the Company revealed. The company succeeded in attaining EGP405 million premiums during the last year of 2013/2014 against EGP360 million in the previous year , move up by 12.5% growth rate, Shehab spoke to Amwal Al Ghad. Suez Canal Insurance succeeded in achieving the highest growth rate since the company's inception in 1979, stressing that the improvement of political and economic situations helped to achieve growth rates, Shehab noted. Over the company's future strategy, Shehab explained that Suez Canal started negotiations with two banks in order to promote its various products through the company's branches. Moreover, Suez Canal has branches across republic but it is considering to expand geographically when the situations will be stabled. More»
Islam Abdelhameed - 2014-07-09 13:55:33
The financial statements of Arab Misr Insurance Group GIG explained that the total value of the company's  investment portfolio reached around EGP470 million at the end of last June, Mohamed Nagah Nour, Head of Investment Sector said. Speaking to Amwal Al Ghad the financial statements revealed that the amount of investment income reached around EGP64.5 million at the end of the last year. The net investment income reached around EGP60 million at last June. More»
Islam Abdelhameed - 2014-07-08 12:38:28
Egypt's Arab Misr Insurance Group (GIG) plans to launch by next month its second mutual fund, said head of investment sector Mohamed Nagah Nour. Under the name of 'Ahd (or Era in English), the new fund is with capitalisation worth 50 million Egyptian pounds (around US$7 million), Nour told Amwal Al Ghad on Tuesday. GIG has recently obtained the approval from the country's regulator, the Egyptian Financial Supervisory Authority (EFSA) to launch its new fund. The company is seeking to increase the fund's capitalisation to EGP 100 million after one year of its inception. In earlier statement to Amwal Al Ghad, Nour referred that Banque Du Caire was receiving subscriptions on GIG's second mutual fund, said head of investment sector at GIG Mohamed Nagah Nour. Prime Holding will manage GIG's second mutual fund. He also stated that the fund is a low-risk daily cumulative return fund that will invest in treasury bonds, treasury bills, deposits and private investment funds.GIG had issued its first mutual fund in 1995, namely AMIG. More»