amwalalghad :: EGX

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        


Money Markets - EGX

Amwal Al Ghad English - 2015-04-28 17:13:00
Egyptian investors challenged the government in court Tuesday over a tax on stock dividends and capital gains, saying it is causing confusion and hampering investment. Traders say the market still doesn't understand how the tax will be calculated or collected, adding to uncertainty aroused by an indefinite delay to parliamentary elections. The stock market hit a four-month low in early trade. The head of the Egyptian stock exchange complained the tax rules were too complicated and fund managers called them burdensome. President Abdel Fattah al-Sisi approved the law, which imposes a 10 percent tax on capital gains and dividends, last July as part of efforts to overhaul an economy battered by years of political turmoil. But the "executive regulations", which stipulate how the law will be applied, were not published until earlier this month and investors say they leave many ambiguities. Finance Minister Hany Kadry Damian has estimated that the stock market tax would raise between 3.5 million and 4.5 million Egyptian pounds ($460,000 and $590,000). Profits from stock market transactions in Egypt were previously tax-free. The Egyptian Association for Financing and Investment Studies, representing stock market investors and traders, filed a lawsuit in an administrative court demanding changes to some articles of the law, Mohsen Adel, deputy head of the association, told Reuters on Tuesday. Adel, a member of the Egyptian Stock Exchange (EGX) board and an advisory economic council for the presidency, said on his Facebook page that the lawsuits were filed due to the government's "failure to respond" to the issue. The tax applies to dividends and capital gains made from trading stocks on the Egyptian stock market and unlisted companies. "What we aim at through filing this lawsuit is to abolish the law because it hurts the investors, the stock market, and also harms competition with our neighbouring markets," said Awad Altersawi, the legal adviser of the Egyptian Association for Financing and Investment Studies. The main index of Egypt's Stock Exchange rose by 32 percent in 2014, the biggest jump among global markets. But the EGX has fallen this year, hit by liquidity shortages and dropping further since the new tax regulations were issued. More»
Yomna Yasser - 2015-04-28 16:31:13
Egypt’s stock market plunged Tuesday to a four-month low on local investors’ broad selloff angered by the introduction of a capital gains tax this month. Consequently, the country’s main stock index, EGX30 also fell to its lowest level since December 18, 2014, overlooking positive news such as first quarter earnings of leading property developer Palm Hills. The market capitalization has recorded 488.365 billion pounds during the closing session of Tuesday. Market players have blamed the continuing sell-off on regulations for taxes on capital gains and dividends. The new rules have been criticised by the head of the Egyptian stock exchange among others; he said they were too complex. Fund managers complain they are too burdensome. Indices: Egypt’s benchmark index, EGX30 pushed down by 1.92 percent to close at 8330.52 points. EGX20 sank by 2.27 percent to 8714.46 points. In addition, the mid- and small-cap index EGX70 dived by 3.09 percent to 460.36 points. The price index, EGX100 sagged by 2.20 percent to 941.58 points. Humble Turnovers On Tuesday, the bourse’s trading volume has recorded 154.765 million securities, with turnovers closed at EGP 702.834 million, exchanged through 18.250 thousand transactions. Also during the closing session, 183 listed securities have been traded in; 126 declined, 23 advanced; while 24 kept their previous levels. More»
Yomna Yasser - 2015-04-27 15:07:37
Egypt’s stock market encountered losses on Monday worth 7.4 billion Egyptian pounds (US$969.6 million) driven by local investors’ selloffs. Accordingly, the country’s main stock index, EGX30 plunged below 8495 points. The market capitalization has hit 496.285 billion pounds during the closing session of Monday. Indices: Egypt’s benchmark index, EGX30 plummeted by 1.62 percent to close at 8493.68 points. EGX20 pushed down by 2.51 percent to 8916.58 points. In addition, the mid- and small-cap index EGX70 dived by 2.81 percent to 475.05 points. The price index, EGX100 dropped by 2.18 percent to 962.75 points. Turnovers above One Billion Pounds On Monday, the bourse’s trading volume has recorded 156.784 million securities, with turnovers closed at EGP 1.169 billion, exchanged through 20.523 thousand transactions. Also during the closing session, 187 listed securities have been traded in; 146 declined, 10 advanced; while 24 kept their previous levels. More»
Amwal Al Ghad English - 2015-04-27 14:10:44
"Growth & Emerging Markets" committee of the International Organization for Securities Commission (IOSCO) has kicked off its annual meetings on Monday in Egypt. It is being hosted by Egypt's market regulator, the Egyptian Financial Supervisory Authority (EFSA). The annual meetings are organised for the first time in Egypt, in the presence of David Wright -IOSCO's Secretary General, and Sherif Samy - Chairman of the Egyptian Financial Supervisory Authority (EFSA). More»
Amwal Al Ghad English - 2015-04-26 17:34:12
Shareholders of Arabia Investments, Development and Financial Investment Holding Co. will hire a financial advisor for the initial public offering (IPO) of its subsidiary, Cairo for Development and Car Manufacturing, on Egypt’s bourse. Cairo for Development and Car Manufacturing is a 90%-owned subsidiary and the exclusive agent for the Peugeot car brand in Egypt. More»
Yomna Yasser - 2015-04-26 16:48:51
Egypt’s stocks ended Sunday lower with losses worth 3.5 billion Egyptian pounds (US$459 billion) driven by local investors’ selling pressures. The country’s main stock index, EGX30 retreated below 8635 points. The market capitalization has hit 503.714 billion pounds during the closing session of Sunday. Indices: Egypt’s benchmark index, EGX30 inched down by 1.12 percent to close at 8633.86 points. EGX20 dropped by 1.25 percent to 9146.17 points. In addition, the mid- and small-cap index EGX70 plummeted by 0.46 percent to 488.78 points. The price index, EGX100 fell by 0.51 percent to 984.22 points. Turnovers climb On Sunday, the bourse’s trading volume has recorded 91.883 million securities, with turnovers closed at EGP 1.173 billion, exchanged through 12.627 thousand transactions. Also during the closing session, 162 listed securities have been traded in; 103 declined, 25 advanced; while 30 kept their previous levels. More»
Amwal Al Ghad English - 2015-04-26 14:45:30
The African Securities Exchanges Association (ASEA) has selected the Egyptian stock Exchange (EGX) to host the association’s Executive Committee meetings. The meeting will be held tomorrow, April 27th at the EGX’s headquarters with the presence of the heads of eight African stock exchanges to discuss ways in which to develop the association's work. The plan is to activate and promote its role in developing African markets in order to occupy significant position in the world investments map. In 2014, Egyptian Exchange was selected as a member of the ASEA’s Executive Committee for the third time. It hosted several African representatives a few weeks ago, within a training and technical support program, to raise the efficiency of African exchanges. More»
Yomna Yasser - 2015-04-23 14:51:50
Egypt’s stock market closed Thursday with gains worth 3.4 billion Egyptian pounds (US$445.7 million) backed by local investors’ buying appetite. The country’s main stock index, EGX30 surged to end this week above 8730 points. The market capitalization has hit 507.264 billion pounds during the closing session of Thursday. Indices: Egypt’s benchmark index, EGX30 climbed by 1.18 percent to close at 8731.29 points. EGX20 rose by 0.84 percent to 9261.86 points. In addition, the mid- and small-cap index EGX70 hiked by 0.71 percent to 491.04 points. The price index, EGX100 rose by 0.29 percent to 989.22 points. Turnovers humble again On Thursday, the bourse’s trading volume has recorded 98.778 million securities, with turnovers closed at EGP 546.190 million, exchanged through 14.287 thousand transactions. Also during the closing session, 179 listed securities have been traded in; 32 declined, 107 advanced; while 37 kept their previous levels. More»
Yomna Yasser - 2015-04-22 14:38:26
Egypt’s stock market shares rebounded Wednesday with gains totalling 2.8 billion Egyptian pounds (US$367 million) triggered by non-Arab foreign investors’ buying appetite. The market capitalization has hit 503.836 billion pounds during the closing session of Wednesday. Indices: Egypt’s benchmark index, EGX30 inched up by 0.63 percent to close at 8629.49 points. EGX20 rose by 0.14 percent to 9184.86 points. In addition, the mid- and small-cap index EGX70 increased by 0.42 percent to 487.56 points. The price index, EGX100 dipped by 0.02 percent to 986.33 points. Turnovers surge On Wednesday, the bourse’s trading volume has recorded 103.601 million securities, with turnovers closed at EGP 981.637 million, exchanged through 16.696 thousand transactions. Also during the closing session, 181 listed securities have been traded in; 53 declined, 86 advanced; while 35 kept their previous levels. More»
Amwal Al Ghad English - 2015-04-22 08:11:25
Egypt’s stock market raised LE4 billion in the first half of 2015 for six companies, but local and regional factors might take a negative toll on the rest of the year's performance, Bourse chairman Mohamed Omran told a money and finance conference on Tuesday. The amount raised in the first three months of 2015 amounts to twice that raised in 2014, a year that winessed IPOs of 13 companies worth LE1.9 billion. The current year also saw the first listing of a state-owned company in ten years, MOPCO for fertilisers, while the listing of three petroleum companies is under negotiation. However, investors have been shying away from the stock market with low turnovers seen in the past six months as a new capital gains tax raised concerns among share holders, and regional markets prove to be tough competitors, Omran said. While the Kuwait stock exchange has cancelled taxes on foreign investors and the Saudi exchange has opened doors to foreign investors, capital gains taxes remian difficult to collect, Omran added. Egypt’s stock exchange has fallen 3.94 percent since the beginning of 2015 down to 8575 points. More»