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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        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        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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        

Indices news

Dollar Jumps Against Yen, Euro Struggles On QE Speculation


Published 2014-09-02 08:41:00| Amwal Al Ghad English

The dollar hit its highest since January against the yen on Tuesday while a struggling euro sank to a one-year low against the greenback on expectations of a more aggressive easing program in the euro zone. The European Central Bank will hold a policy meeting and news conference later this week, which will be closely watched for any signs that ECB President Mario Draghi is moving towards full-scale quantitative easing - effectively the printing of money - to boost the flailing euro zone economy. Since Draghi said he would use "all the available instruments" to ward off the threat of deflation at a U.S. Federal Reserve conference in Jackson Hole last month, speculation that the ECB will introduce QE has ramped up.   Data added fuel to that speculation on Monday: euro zone factories barely increased prices last month, and manufacturing activity in France fell at the fastest pace in 15 months. A separate report confirmed the German economy contracted for the first time in over a year in the second quarter. That all helped to send the euro to a trough of $1.3115 EUR= on trading platform EBS on Tuesday, its lowest since September 2013. But some said that the market might be expecting too much from Thursday's meeting.
Get To Know
Born in 1954 in the coastal city of Balteem in the Delta governorate of Kafr El-Sheikh to a working-class family, Hamdeen Sabahi was the youngest of 11 children.He studied mass communication at Cairo University. A politically-active student, he was elected head of the Cairo University Student Union in 1975 and served as deputy chair of the General Federation of Students from 1975 to 1977. He established the political Nasserist Thought Club to mobilise on Cairo University’s campus in defence of the principles of Gamal Abdel-Nasser's 1952 revolution in a context of later rapprochement efforts with the West by then-president Anwar El-Sadat. As well as being a political activist, Sabahi worked as a journalist. In 1977, following the January popular uprising against Sadat over skyrocketing food prices, Sabahi publicly confronted the president in a televised meeting in which he spoke on behalf of the Cairo University Student Union. As a result, Sabahi was prohibited from working as a journalist in the state media sector for several years. Sabahi’s membership in the Arab Democratic Nasserist Party was suspended in 1994 due to internal conflicts between the party's young cadres – including Sabahi – and the party's old guard of personalities who had been close to late president Nasser.
forex news
The euro fell below $1.32 for the first time in nearly a year Monday following Mario Draghi’s unexpected suggestion on Friday that more stimulus could be on the way for the euro zone. The euro gapped lower against the dollar EURUSD, -0.01% during Asia’s trading session, but then held steady after the German Ifo survey reading showed business confidence declined more than expected in August. The euro traded at $1.3195, down from $1.3242 late Friday in New York. The euro could see a temporary recovery “as technical traders line up their bids ahead of the 2013 lows” of $1.3150 before continuing its decline, according to a research note from Boris Schlossberg, managing director of FX strategy at BK Asset Management. The U.S. dollar has continued to rise against the euro, yen and Canadian dollar in August despite U.S. interest rates trending lower. If this phenomenon persists for another week, it will mark only the fourth month since the 2008 collapse of Lehman Brothers that the dollar has risen while interest rates have fallen, according to David Woo, head of global rates and currencies research at Bank of America Merrill Lynch. U.K. markets are closed Monday for a holiday, which will add to the usual end-of-summer light trading volume. The euro EURJPY, -0.16% traded at 137.20 yen Monday, down from ¥137.67 Friday. The dollar USDJPY, -0.15% was trading flat at ¥103.98 Monday. The pound GBPUSD, -0.04% traded at $1.6583, up from $1.6572 late Friday. The WSJ Dollar Index BUXX, -0.03% a measure of the dollar against a basket of major currencies, was up 0.13% at 74.63.