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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        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        Canal Shipping Agencies   7.39        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        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        


Business - Banks

Mohamed Hamdy - 2018-01-06 11:15:46
State-run Industrial Development and Workers Bank of Egypt (IDWBE) aims to double its profits to 1 billion Egyptian pounds ($56.4 million) in 2018, from 470 million pounds in 2017, its chairman Maged Fahmy said Saturday. The bank also targets a geographical expansion through opening between four and five new branches, thus it would reach a total of 24 by the end of 2018, Fahmy added. The bank has achieved profits of 500 million pounds during 2017, including those from its wholly-owned subsidiary Tanmeyah Leasing. The subsidiary, which was established at the middle of last year, provides leasing services to the industrial sector and small and medium enterprises across Egypt. The bank has a committed paid capital of 175 million pounds for the subsidiary. Fahmy also noted that the bank has achieved a breakthrough in regards to the volume of its deposits during last year that increased from 2.2 billion pounds to 14.2 billion pounds. Credit portfolio registered 8 billion pounds, of which 2 billion pounds are directed to small and medium-sized enterprises. More»
Amwal Al Ghad English - 2018-01-06 09:45:19
After the bitcoin craze surged to a near-fever pitch in the last several weeks of 2017, several investors and analysts in the space see more increasing pains for cryptocurrencies this year. Here are five predictions for digital currencies, based on those interviews: 1. More institutions will get into cryptocurrencies. "Our institutional investor base is very interested in learning more and getting exposure," said Michael Graham, a Canaccord Genuity analyst who has published several reports on digital currencies. "One of our major themes is that as we roll out through 2018, it's the year of institutions getting exposure to the space." The number of institutional-level investment products related to bitcoin is increasing. In addition to the CME and Cboe bitcoin futures that launched in December, Cantor Fitzgerald and Nasdaq are planning their own derivatives products. Analysts also expect regulators will approve a bitcoin exchange-traded fund in the second half of this year, or in early 2019. "With the regulated futures markets going live in 2017, the stage is set for ETFs to gain approval in 2018," Nolan Bauerle, director of research at CoinDesk, said in an email. "In fact, the Cboe filed for 6 cryptocurrency ETFs at the end of 2017 which could go live in 2018. This would dramatically increase how institutional investors can get exposure." The U.S. Securities and Exchange Commission declined to comment. 2. There will be more regulation and bitcoin's price will drop. However, in the meantime, regulators will likely try to limit speculation in cryptocurrencies. In the last several months, the SEC has become increasingly vocal in warning investors about the risks of cryptocurrencies. The commission also has suspended trading in some companies due to concerns about their claims regarding their token-related announcements. "One of the things we'll see [is] enforcement here from the regulators," Canaccord's Graham said. He expects that greater regulation will cause a "major price dislocation event for the whole sector." Bitcoin has soared more than 1,500 percent to near $16,200 over the last 12 months. But it is still down about 18 percent from its all-time high above $19,800 hit in mid-December. Meanwhile, smaller cryptocurrencies have surged hundreds of percent in the last several weeks, bringing the total market value of all digital coins to above $770 billion, according to CoinMarketCap. Action by regulators could halt those gains. Bitcoin fell more than $2,000 in September when China cracked down on digital currencies. Spencer Bogart, managing director and head of research at venture capital firm Blockchain Capital, expects that many cryptofunds will not be prepared to handle a monthly decline of 25 percent. "I think we could easily purge 60-75% of crypto hedge funds in this type of market," Bogart said in an email. "In this environment, funds that can call capital and deploy it counter-cyclically stand to benefit significantly." More than 120 such funds opened in 2017 for a total of 175 funds, according to financial research firm Autonomous Next. In contrast to Bogart, Autonomous' global director of fintech strategy, Lex Sokolin, predicts the total number of cryptofunds will nearly triple to 500 this year. But he said the focus will be less on the number of funds and more on assets under management, which he expects to reach $20 billion. 3. It will be a wild, volatile ride. The contrasting views on the future of cryptofunds come as some analysts expect bitcoin to ride an even wilder wave this year. Ari Paul, chief investment officer of cryptocurrency investment firm BlockTower Capital, predicts that bitcoin will trade at both $4,000 and $30,000 at some point in 2018. One reason some analysts say bitcoin will ultimately rise further is that investors will bet on a payout from more splits in the digital currency. When some bitcoin developers decide to implement their own upgrade of the bitcoin network, bitcoin investors at the time of the split receive equal amounts of the split-off coin. Aug. 1's split of bitcoin into bitcoin and bitcoin cash was "a change in the trend," said Ramon Quesada, a vocal member of Spain's cryptocurrency community. Developers "are using the brand bitcoin and they are splitting the main chain. They are making a fork. You create a new chain and you give a new name to this chain." Bitcoin trades near $16,200, while bitcoin cash trades around $2,600. "We think we're going to have more forks in 2018 than 2017," Canaccord's Graham said. "Ultimately we think those forks are going to be a short-term tail wind to bitcoin's value and a long-term headwind" Bitcoin still faces many challenges, such as improving transaction fees and speed. 4. Bitcoin will prevail, while other cryptocurrencies grow. While bitcoin's price has stagnated in the last two weeks, smaller digital currencies such as ripple, stellar and tron have surged into the ranks of the largest cryptocurrencies by market capitalization. Erik Voorhees, CEO of digital asset exchange ShapeShift, said that in contrast to bitcoin's dominance on the platform a year ago, about half of transactions on the platform now don't involve the popular digital currency at all. However, bitcoin should still benefit from the increased interest in the "alt-coins." Analysts also point out that since bitcoin is the most established digital currency, it is often the way new investors access the cryptocurrency space. "Bitcoin has such magnificent network effects that I don't see another alt-coin that's a little better at payments" or some other function right now, Autonomous' Sokolin said. "One of the top 10 will collapse." 5. Stock investors may get a chance to invest in a digital currency-related IPO. As interest in digital currencies has grown, the companies involved with the business have become billion-dollar entities. Leading U.S. cryptocurrency marketplace Coinbase, valued at $1.6 billion, has indicated it could pursue an initial public offering. "I do think the public is going to see some crypto-owned IPOs this year and more broadly blockchain IPOs," Canaccord's Graham said. He said cryptocurrency-related companies that want to give U.S. regulators a better impression are likely "going to rely on old-fashioned equity." Coinbase declined to comment. But just as greater regulation in the U.S. has encouraged more blockchain development outside the country, the first crypto-related public offering may not happen in America either. "IPOs are going to happen outside the U.S. first," said Ryan Gilbert, partner at Propel VC, which focuses on financial technology and has a $250 million fund. Propel is indirectly a minority investor in Coinbase, Gilbert said. Regardless, investors will need to be extremely cautious about companies making announcements related to cryptocurrencies and adding "blockchain" to their name. Some tiny stocks have soared on such changes, prompting regulators to issue warnings about potential scams. The market moves mirror the tech bubble, when many stocks saw a dramatic price surge after adding "dot-com" to their names. A paper published in 2000 through Purdue University found the dot-com name changes began around June 1998 and picked up in the first five months of 1999, at an average rate of seven name changes a month. Most of the companies were traded over the counter, and regardless of their level of involvement with the internet, the name change resulted in returns of about 74 percent for the 10 days surrounding the announcement day, the paper said. "What the dot-com paper shows is that reasoning goes away when you're looking at a hot industry," co-author Raghavendra Rau told CNBC in a phone interview this week. He is now a professor of finance at the University of Cambridge. If he had to guess, Rau said it may take at least two or three years for the blockchain stock mania to subside. "My personal sense is the technology is good, but like every new technology I don't think the broad pattern [of] history changes very much. There will be manias." More»
Amwal Al Ghad English - 2018-01-04 14:58:15
Egypt plans to sell $850 million in one-year dollar-denominated treasury bills to local and foreign financial institutions on Jan 9, the central bank said in a statement Thursday. More»
Amwal Al Ghad English - 2018-01-04 12:07:42
National Bank of Egypt (NBE), the country's largest state bank, has recently pumped credit facilities of 450 million Egyptian pounds ($25 million) into two local companies operating in the electricity sector. The money is distributed as 350 million pounds given to an electrical cable firm and 100 million pounds to an electricity transformers firm, NBE deputy chairman Yehia Aboul Fotouh told Amwal Al Ghad on Thursday. The bank’s credit portfolio has registered 400 million pounds by the end of 2017, with a target to increase it by 15 percent during the current year, he added. Deposits rose to 900 billion pounds by the end of 2017, Aboul Fotouh said, referring that his bank has attracted more than 430 million pounds from high-yield certificates. The National Bank of Egypt's plan aims to increase the volume of SMEs portfolio, to register 42 billion Egyptian pounds by the end of June, compared 40 million pounds.  It also targets personal financing reaching 45 billion pounds from 42 billion pounds. More»
Mohamed Hamdy - 2018-01-04 10:54:57
Egypt’s central bank has approved to grant Credit Guarantee Company (CGC) 2 billion Egyptian pounds ($112 million) aimed to guarantee the credit risks of financing small and medium-sized businesses. The agreement will see CGC issue guarantees to the banks that offer funding for SME projects to cover part of the associated credit risks. The money comes under the Central Bank of Egypt’s initiative that aimed to direct banks to increase finances provided to micro, small, and medium enterprises, to be not less than 20 percent of their loan portfolios, the central bank said in a statement on Wednesday. The central bank is studying applying a cooperation mechanism with Credit Guarantee Company in order to benefit from its expertise in covering credit risks associated with financing SMES, it added. More»