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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        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        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        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - Banks

Sayed Badr - 2015-07-04 13:06:18
The Ministry of International Cooperation is to sign within a month a cooperation strategy agreement with the World Bank Group, minister Naglaa Al-Ahwany said Thursday. Earlier in April this year, the World Bank’s regional vice president for MENA Hafez Ghanem said the bank had decided to double its investments in Egypt to US$4.5 billion in the coming four years, reaching US$1.2 billion per year.Ghanem’s remarks came during a panel discussion organized by the WB on the sidelines of its joint annual spring meetings with the International Monetary Fund (IMF) held in Washington, D.C. last April. “We are really focused on water, agriculture, and youth – using our investments country by country. Example in Egypt, we’re giving about a billion per year for the next 4 years,” Ghanem said in the panel discussion posted on the organization’s website. “A third of MENA countries—oil importers—will grow at about 4 percent in 2015, buoyed by some policy reforms, notably in Egypt and Morocco, as well as low oil prices,” Ghanem said. The report expected GDP regional growth to remain “flat” at 3.1 to 3.3 percent for the rest of 2015 and for 2016, citing prolonged conflict, political instability in some countries and low oil prices. “Economic growth in oil exporters, however, is plummeting.  Those mired in conflict, such as Iraq and Libya, are likely to see economic contraction this year.  The Gulf Cooperation Council (GCC) countries are expected to lose about $215 billion, or 14 percent of their combined GDP, from lower oil prices this year,” added the report. More»
Maha Essam - 2015-07-04 11:03:17
The Commercial International Bank (CIB), Egypt's biggest private-sector bank, is to arrange a syndicated loan for Wadi Degla Holding Company worth 1 billion Egyptian pounds (US$129.5 million), Wadi Degla's CEO Maged Helmy said Thursday. The syndicated loan will be arranged by a consortium encompassing a number of other banks, Helmy added during a press conference held by the firm Wednesday.He added that the loan would be allocated to implement the company's Neopolis project. The project is with total cost of 13 billion pounds. Neopolis is a residential compound that will be established in Future City with expected revenues estimated at  20 billion pounds. Helmy clarified that the means of funding the project diversify between securitization, increasing the company's capital, promoting the project in addition to securing a loan. The project will be executed through five phases over six years from the date of issuing the ministerial decree and starting constructing the project. On other side, Wadi Degla Holding Company has signed a contract with El Mostakbal for Urban Development to develop 545 feddans in New Cairo city with the cost of 1608 Egyptian pounds for meter to establish 14,000 housing units with spaces ranging between 107m2 and 345m2 in addition to a club and two schools. Moreover, Wadi Degla Holding Company has issued securitized bonds worth 187 million pounds to cover the debts of affiliated projects in three cities: Ain Sukhna, Northern Coast, and 6th of October. More»
Amwal Al Ghad English - 2015-07-04 10:13:09
The International Finance Corporation (IFC), a member of the World Bank Group, is securing a US$50 million loan to Cheiron Finance Limited, a subsidiary of Egypt’s PICO International Petroleum (PIP). The IFC announced in a statement Thursday, that the loan aims to 'bolster energy supplies' in Egypt. Egypt has suffered from an acute energy crunch in the past year that has limited the production capacity of energy intensive industries such as cement, fertilisers and ceramics. Once a net exporter of fuel, Egypt has become a net importer on the back of an energy crisis and increasing domestic consumption. "By harnessing the country's energy potential, we can spur economic growth and help bring opportunity to those who need it most," said Mouayed Makhlouf, IFC Director for the Middle East and North Africa, in the statement. The loan is part of a $200 million financing package provided by the European Bank for Reconstruction and Development and HSBC, along with the IFC. Egypt's PICO International Petroleum (PIP) currently holds six concessions in the country, and its affiliate Cheiron Holdings Limited (CHL) owns the Amal Development field and Zaafarana. More»
Amwal Al Ghad English - 2015-07-04 09:24:43
Turkey's annual inflation rate edged lower to a two-year low in June but remained well above the central bank's medium-term target, indicating the bank has little room to loosen monetary policy to boost growth. Consumer price inflation eased to 7.2% in June-the lowest figure since May 2013--from 8.09% in May, the state statistics agency said Friday. This compares with a forecast of 7.4% in a survey by The Wall Street Journal. Turkey's annual rise in food prices slackened to 9.3% in June from 12.8% in May, data showed. "Although today's figure and possible further correction in food prices might be a breather for central bank, we do not think that they suffice to allow the bank to ease monetary conditions," said Gokce Celik an economist at Finansbank. "On the contrary, we see short term interest rates to end this year at a higher plateau than the current one as we expect central bank adjusting its policy stance, once Fed's rate hikes begin." "The soft consumer price index data will likely lead to some improvement in inflation expectations and in central bank credibility. However, the effect isn't enough to make any changes in the monetary policy," added Yarkin Cebeci, an economist with J.P. Morgan Chase & Co. The central bank has struggled to tame inflation to its medium-term target of 5% in the face of a depreciating currency and political pressure to cut interest rates to spur economic growth. The World Bank on Wednesday lowered its 2016 and 2017 growth outlook for Turkey amid political uncertainty but kept it growth forecast for the country for this year at 3%. Turkey's economy grew 2.9% last year, missing the government's 3.3% target and slowing from a 4.2% growth rate in 2013. Turkey's currency has slumped 15% against the dollar since the start of this year amid a broader emerging markets selloff on expectations that U.S. Federal Reserve will raise interest rates later this year and domestic political uncertainty. Turkey's long-ruling Justice and Development Party, or AKP, won the most seats in parliament in the June 7 elections but lost the majority it enjoyed for 13 years. No clear scenarios have yet emerged for either a coalition or minority government. "If the political uncertainty deepens and the lira gets under significant pressure, the central bank could react by hiking both the policy rate and the upper band of the corridor in order to restore credibility and to support the lira, " J.P. Morgan's Mr. Cebeci said. The central bank last month held interest rates steady for the fourth consecutive month, keeping the benchmark one-week repo rate at 7.5%. The decision reflected a deterioration in inflation expectations among businessmen in a central bank survey last month. More»
Amwal Al Ghad English - 2015-07-02 08:35:28
Egypt's M2 money supply was up 15.9 % at the end of May from a year earlier, the central bank said on Tuesday. M2 money supply stood at 1.72 trillion Egyptian pounds at the end of May 2015, compared with 1.48 trillion at the end of May 2014. Following is a table of the latest Egyptian M2 money supply figures in trillions of Egyptian pounds, according to the central bank's website. More»