amwalalghad :: Financial Institutions

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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

Amwal Al Ghad English - 2018-04-25 10:35:01
Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, launches new trading platform for active traders and institutional clients across the Middle East. Boasting a unique combination of feature-rich trading platform and ease-of-use accessibility, SaxoTraderPRO is an advanced, multi-screen trading platform offering a fully customizable workspace for both Windows and Mac with no monthly fees. Kim Fournais, Founder and CEO, said: “We were a Fintech before the term was created and the core of Saxo Bank has always been our multi asset trading technology and trading platforms. We strive to democratize trading and investment, essentially providing traders and investors with the same professional tools and market access as fund managers and large financial institutions. “I am proud that we yet again deliver on our vision with the launch of SaxoTraderPRO. Based on our scalable business model and efficient technology, SaxoTraderPRO offers intuitive and free access to tools and functionality that has previously been the preserve of a select few and carrying hefty fees.” SaxoTraderPRO has its foundation in Saxo Bank’s unparalleled global capital markets access. As a leading facilitator in global capital markets, Saxo Bank connects private and institutional clients with more than 100 global liquidity providers and exchanges to offer access to more than 35,000 financial instruments across asset classes. Clients have access to ETFs, Stocks, Bonds, CFDs, Forex, Futures and Options that are cross margined from a single account. Catering to active traders and institutional clients, SaxoTraderPRO is set to replace the current SaxoTrader platform, while SaxoTraderGO continues to cater to a wider range of retail traders and investors. Christian Hammer, Head of Platforms, added: “The number of knowledgeable and experienced active traders in the MENA region is on an upward trajectory amidst an accelerated regional economic growth outlook. As more and more regional investors seek to preserve and grow their wealth, we know that our active traders and institutional clients demand unparalleled access to global capital markets combined with a high level of control through advanced trading tools, fast and reliable execution and extensive options for customizations to fit their individual trading needs. “To ensure exactly that, we’ve worked with the latest front-end technologies such as HTML5/JS/REACT which connect to a single REST API that clients can also access directly to develop their own bespoke functionality for trading, risk monitoring or reporting purposes. We have also placed our clients at the center of the development process with constant feedback, early prototyping and A/B testing with in-lab usability studies. A lot of unique features have been developed based on specific feedback from our beta users like the margin break down module to help our clients manage their risk.” More»
Yomna Yasser - 2018-04-21 10:36:57
The International Monetary Fund and Egypt’s central bank and government will co-host a high-level conference in Cairo on May 5-6. The conference is designed to promote higher economic growth and job creation in Egypt, according to the IMF release on Friday. The aim of this event is to recognise the successes in macroeconomic stabilisation that Egypt has achieved, and to help in building consensus among stakeholders around the reforms needed going forward to attain higher and more inclusive growth and create jobs sustainably to meet the needs of Egypt’s young and growing population. The conference aims to shed light on global best practices and successful relevant experiences that can help enhance Egypt’s homegrown structural reform agenda and address its medium-term challenges. The conference will bring together international and Egyptian high-level policymakers and other experts to exchange perspectives, and to reflect on successful international reform experience and how these could be relevant in the Egyptian context. Key topics to be discussed at the conference will include macroeconomic stabilisation as the foundation for inclusive growth and job creation; successful reform strategies and lessons from other countries; and policies to foster inclusive private sector-led growth. The concluding session, in which a broad cross-section of representatives from civil society, academia and the private sector are expected to participate, will aim to draw implications for Egypt’s goal of higher, inclusive and more sustainable growth. Egypt’s Prime Minister Sherif Ismail, IMF First Deputy Managing Director David Lipton, central bank governor Tarek Amer, and Minister of Finance Amr el-Garhy will be among the speakers. More»
Yomna Yasser - 2018-04-19 19:05:29
Egypt is making a clear rebound of growth and the Egyptian economy is back on a productive and positive path, International Monetary Fund Managing Director Christine Lagarde said on Thursday. The IMF chief said Egypt’s step to float its currency, reestablish decent reserves in a bid to stabilizes its macroeconomic situation, as well as reduce its fiscal deficit is all heading in the right direction. “And we are clearly seeing a rebound in the foreign direct investment and in investment in Egypt in general.” Lagarde told a news conference in Washington where world financial leaders gathered for the start of the IMF and World Bank spring meetings. The IMF official also said the Egyptian authorities have provided a social protection safety net that was maintained in the IMF programme so that the middle class would be protected. Therefore, all the IMF’s cash transfers and mechanisms in place were more focused on the poor and the most exposed people than on the better off in Egypt, she added. “It is clear that when you remove fuel subsidies, for instance, all those driving, whatever they drive, are going to be affected; and the cash transfers and mechanisms in place were actually more focused on the poor and the most exposed people than on the better off in the Egyptian society.” Lagarde said. “What we are seeing is a clear rebound of growth as well, and hopefully the Egyptian economy is back on a productive, positive path that will be beneficial for all.” In November 2016, Cairo agreed the three-year loan deal with IMF, which involved tough economic reforms, such as cutting its budget deficit and floating the Egyptian pound. The currency plunged as low as around 19.50 to the U.S. dollar in subsequent weeks. More»
Amwal Al Ghad English - 2018-04-19 17:08:31
The biggest danger from the trade dispute between the United States and China is the threat to global confidence and investment, International Monetary Fund's (IMF) Managing Director Christine Lagarde said on Thursday. She said the tensions between the world’s two largest economies was a bigger threat to nations’ confidence in the global financial order than to gross domestic product. More»
Amwal Al Ghad English - 2018-04-19 17:04:03
Global debt has reached a record high, and three countries account for more than half of it, according to a new report released by the International Monetary Fund on Wednesday. The IMF’s fiscal monitor said total debt reached $164 trillion in 2016, or 225 percent of global gross domestic product. That includes the debt of governments, households and companies. Compared with the previous peak in 2009, the world is now 12 percent of GDP deeper in debt, the IMF said. Just three countries — China, Japan, and the U.S. — account for more than half of global debt, and China alone accounts for almost three-quarters of the increase in private debt since the financial crisis. The IMF warns that countries with elevated government debt are vulnerable to a sudden tightening of global financing conditions, and it said advanced economies were resting on their laurels, with deficits remaining unchanged on average. It said the U.S. was the only advanced economy expecting an increase in debt-to-GDP ratio over the next five years. That’s due to the recently enacted tax cuts as well as the big increase in spending. The IMF said its U.S. forecasts are similar to those published by the Congressional Budget Office. More»
Amwal Al Ghad English - 2018-04-15 06:12:43
Egypt's Minister of Finance Amr El-Garhy is scheduled Sunday to address the parliament on the country's new budget for the financial year 2018/19. A parliamentary report said Minister of Planning and Administrative Reform Hala El-Saeed will also address the parliament in Sunday's plenary session on Egypt's Socioeconomic Plan for the 2018/19 year. Egypt's new budget and plan were referred to parliament's Budget Committee one week ago after they were approved by the Cabinet in their final form 30 March. According to Egypt's constitution and parliament's internal bylaws, the country's new budget and plan should be submitted to the House of Representatives three months ahead of the end of its legislative season in July of each year. After the two ministers address parliament Sunday, their statements and the budget and plan will be discussed in the Budget Committee. Each of parliament's other committees will also hold hearing sessions to discuss the part of the budget and plan related to its business and activities. At the end of the debate, which is expected to take one month, a general parliamentary report on the new 2018/19 budget and plan will be prepared to be discussed and voted on in a plenary session. Article 124 of Egypt's constitution gives parliament complete powers to amend any of the budget's items. In case of amending expenditure items, this should be done in coordination with the government. A statement issued by the Ministry of Finance on 12 April said Egypt's 2018/19 budget targets a GDP growth of 5.8 per cent, up from 5.2 per cent in the current fiscal year, a budget deficit of 8.4 per cent of GDP, 91 per cent public debt, and a two per cent primary budget surplus. The statement said the new budget targets expenditure of LE1.41 trillion and investment worth LE100 billion, up from LE70 billion in the current budget. While the new budget will see a 15.5 per cent increase in expenditure, it also seeks to increase revenues by 21.6 per cent. "This will come through boosting tax and fiscal revenues, focusing on administrative and institutional reform, and switching to cash instead of in-kind subsidies," the statement said. More»
Amwal Al Ghad English - 2018-04-14 07:28:16
Egypt's Finance Ministry issued Friday the preliminary financial statement for the 2018/2019 budget for the third year in a row. The statement is revealed for those interested in the Egyptian economy locally and abroad. It also highlights the suppositions and forecasts the new budget is based on, in addition to the social schemes and policies included in the state budget. Finance Minister Amr el Garhi said that issuing such statement for the third consecutive year proves the ministry's keenness on disclosing its data on the budget publically. Egypt targets economic growth at 5.8 percent during 2018/2019, as well as reducing the unemployment to 11 percent, the statement revealed. The gross fiscal deficit is planned to be reduced to 8.4 percent of the GDP, compared to 10.9 percent in 2016/2017, the statement disclosed. More»
Islam Abdel-hamid - 2018-04-12 12:26:29
The capital volume of insurance companies’, working in Egypt, reached 8.8 billion Egyptian billion pounds in the last fiscal year 2016/2017, according to Egyptian Financial Supervisory Authority’s report. These numbers compared to 6.3 billion pounds a year earlier within an increase of 2 billion pounds. Public sector acquired increase of  1.45 billion pounds, of the total paid-up capital, reaching 4.7 billion pounds by the end of June 2017 compared to 3.25 billion in the time a year earlier. Egyptian private sector acquired 17.2%, 3.61 billion pounds, of the total paid-up capital in  FY 2016\2017 compared to 3.08 billion pounds a year earlier. More»
Amwal Al Ghad English - 2018-04-11 07:29:16
Egypt closed a €2 billion euro-denominated two-tranche bond issuance on Monday that was 3.8x oversubscribed, the Finance Ministry announced in a Facebook statement on Tuesday. This is the first time Egypt has issued bonds denominated in euros. The two tranches consisted of bonds with maturities of eight years with 4.75 percent yield, and bonds with maturities of 12 years with a yield of 5.625 percent. Over 350 investors from 35 countries made purchase orders worth 7.5 billion euros. From 3 and 6 April, a delegation from the finance ministry led by Minister Amr El-Garhy engaged in a road show in the United Kingdom, Germany, Italy and France to meet with European investors. “It is worth noting that many investors expressed their appreciation and praised [Egypt’s] macroeconomic developments and the improvement of [macroeconomic] indicators recently,” the statement read. The finance ministry said the bond issuance reflected the trust of international finance institutions and confidence by the international community in Egypt’s reform efforts. The funding will be used to support the Central Bank of Egypt’s international reserves. The cash equivalent in EGP will be used to finance the state budget. The issuance was managed by Deutsche Bank, BNP Paribas, Alexbank Intesa Sanpaolo and Standard Chartered. The National Bank of Egypt and Banque Misr assisted in managing the issuance. Egypt had raised $4 billion in a dollar-denominated Eurobond sale that closed in February this year. Last year, Egypt sold $7 billion in five-, 10- and 30-year dollar-denominated bonds. More»
Amwal Al Ghad English - 2018-04-10 06:52:37
Egypt will raise up to €2 billion with its planned dual-tranche bond, which is expected to price later on Monday, a document from one of the banks arranging the debt offering showed.The debt sale- Egypt’s first public bond denominated in euro- received orders in excess of €7.2 billion, split evenly across the proposed eight-year and 12-year tranches. Final price guidance for the bonds was set at 4.75-4.875 percent for the eight-year paper, and at 5.625-5.75 percent for the 12-year, with the notes expected to price within those ranges. More»