amwalalghad :: Financial Institutions

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Misr Chemical Industries   5.65        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        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        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        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        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        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

Al Zahraa Mostafa - 2018-01-07 09:51:33
Egyptian Takaful Property and Liability Insurance plans to commit around $500,000 to the capacity subscription of the country’s insurance pool designed to insure anticipated nuclear facilities and projects. EGYTAK has informed the insurance pools for train accidents, building works dangers and civil liability as well as nuclear facilities about its planned 0.5 percent contribution, managing director Ahmed Morsy told Amwal Al Ghad on Sunday. The Egyptian nuclear insurance pool is set to insure Egypt’s under construction first nuclear plant in Dabaa, west of Alexandria. The plant will be built in Dabaa, a site in the north of the country that Egypt has been considering for a nuclear power plant on and off since the 1980s. It is due to be completed in 2022, and the first of its four reactors is expected to begin producing power in 2024. More»
Amwal Al Ghad English - 2018-01-07 07:55:38
Egypt plans to raise economic growth rate by six percent within 2018, according to the vice minister of finance for treasury affairs, Mohamed Maait. Maait noted in his interview with Al Ahram newspaper that the government is also working to attract more foreign investments, around $12 billion. The vice minister also indicated that inflation waves cooled down, expecting inflation rate to go below 20% percent soon. In 2017, unemployment went down from 11.9 percent to 11 percent, supported by the rise in economic growth, which reached 5.2 percent at the end of last year, he added. The rise in oil prices to $65 per barrel has led to a rise in subsidiary costs, as the budget estimated prices near $55 per barrel, however, the government will continue to adopt social policies that limit the effects of the economic reforms, to support low income families, said Maai, explaining that an increase in oil prices by $1 a barrel equals a rise in the budget deficit by 4 billion pounds. More»
Amwal Al Ghad English - 2018-01-04 08:39:56
The Emirates Healthcare Group announced Wednesday it has strategically partnered with Egypt’s Alameda Healthcare Group to expand health care facilities in the North African country. Alameda Healthcare Group, which has the largest healthcare footprint in Egypt that totals 860 beds, including both Dar El Fouad Hospital and As Salam International Hospital, in addition to chain of labs, tabibi 24/7 and GIT stand-alone units while the Emirates Health care Group, is part of the Abu Dhabi-based investment group KBBO. “Our expansion in Egypt comes from our strong belief in the development and prosperity of the Egyptian market, and the progress that Egypt is making in all areas as a nation” Khalifa Bin Butti, Chairman of KBBO Group, said. “We’re excited to establish an extensive presence in the vibrant Egyptian market. It’s an important addition to our global healthcare network, further extending the reach of the highest standard patient care we provide globally to around eight million patients each year.” He added. He also noted the serious need for additional healthcare in Egypt. “The population of Egypt has reached 91 million, yet the number of hospital beds available is less than two beds per 1,000 people. With an annual population growth of 2.2 per cent, Egypt desperately needs more hospital beds and improved quality of healthcare services, which this partnership will help provide.” Dr Fahad Khater who will manage and head the group in Egypt as chairman from Alameda Healthcare said: “We’re continually looking for ways to improve our facilities and the care we provide to patients, whether it’s through our new and recently-upgraded hospitals and medical complexes, or via international partnerships with healthcare specialists like Emirates Healthcare Group.” The partnership adds to Emirates Healthcare Group’s vast portfolio of health care services that includes hospitals and clinics located across the UAE and internationally, such NMC healthcare, Emirates Hospitals and CosmeSurge. More»
Amwal Al Ghad English - 2018-01-03 09:35:39
The world is moving toward crisis and a state of "geopolitical depression" as the U.S. presidency of Donald Trump accelerates divisions among citizens and the unraveling of the global order, the risk consultancy Eurasia Group warns. Liberal democracies are suffering from a deficit of legitimacy not seen since World War II, and today's leaders have largely abandoned civil society and common values, Eurasia Group says in its annual assessment of top geopolitical risks. The breakdown in norms opens the door to a major event that could rock the global economy and markets. "In the 20 years since we started Eurasia Group, the global environment has had its ups and downs. But if we had to pick one year for a big unexpected crisis — the geopolitical equivalent of the 2008 financial meltdown — it feels like 2018," said Eurasia Group President Ian Bremmer and Chairman Cliff Kupchan. U.S. global power is "sputtering to a stall" as the Trump philosophy of retrenchment and unilateralism sows confusion among both allies and rivals, Eurasia Group says. The world now lacks leadership to steer it through the impending crisis. "'America First' and the policies that flow from it have eroded the U.S.-led order and its guardrails, while no other country or set of countries stands ready or interested in rebuilding it … significantly increasing global risk." Here are Eurasia Group's top risks in 2018: More»
Amwal Al Ghad English - 2018-01-03 08:54:07
A conflict on the Korean Peninsula could disrupt global businesses, making it "the greatest geopolitical threat to credit quality in Asia," according to Moody's Investors Service. Such a scenario remains a "low-probability event," Moody's stated in a new report Wednesday following fresh bellicose rhetoric from North Korean leader Kim Jong Un and President Donald Trump. But should current tensions evolve to full-blown military action, the consequences could be immense. The loss of human life is seen as the greatest repercussion from any major clash involving Washington, Seoul and Pyongyang, but the global economy will suffer as well, Moody's said. The report did not discuss the worst-case scenario of the use of nuclear weapons, instead concentrating on credit quality for countries and industries at risk. More»
Amwal Al Ghad English - 2018-01-02 06:34:15
Trading of the world's leading cryptocurrency Bitcoin is unlawful in accordance with Islamic Sharia, Egypt’s Grand Mufti Shawki Allam said on Monday. In an official fatwa, Allam said that trading such a "virtual currency" was not permissible as it is not considered by legitimate bodies an "acceptable interface of exchange." Digital currencies are decentralized and not tangible, and do not represent an amount of gold or silver. Bitcoin is believed to be the first of hundreds of digital currencies introduced to the internet sphere, as well as being the most valuable and most widespread globally. On Monday, one Bitcoin was valued at over $13,000 (approximately EGP 230,000). Highlighting that Bitcoin is not subject to the state's supervising and financial authorities, Allam said his fatwa was issued following consultations with several economy experts. He stressed that both the "currency’s risk as well as its high profit potential undermines Egypt's ability to maintain and stabilise its own currency." Allam added that Bitcoin can have a "negative effect on its dealers' legal safety, possibly due to failure to publicly disclose such operations," which he said would lead to an "ease in money laundering and contrabands trade." He affirmed that the use of such currencies "impinges on the state's authority in preserving currency exchange, as well as its necessary supervising measures on domestic and foreign financial activities." Allam said the cryptocurrency trade exchange is similar to "gambling," which is forbidden in Islam, "due to its direct responsibility in financial ruin for individuals." In 2017, trading of Bitcoin and digital currencies boomed worldwide. Egypt has not followed in the footsteps of countries that, even amid a lack of regulations, are considered to be digital-currency friendly, including Japan and Sweden. Nor has Egypt followed countries like Bolivia and Bangladesh in banning the cryptocurrency. Last month, however, Egypt’s Financial Regulatory Authority (FRA) said that enticing investors into dealing with cryptocurrencies is considered a "form of deception that falls under legal liability." The Central Bank of Egypt has repeatedly announced the banking sector does not accredit cryptocurrencies. More»
Mohamed Hamdy - 2018-01-01 09:55:46
Egypt's  Micro, Small and Medium Enterprises Development Agency (MSMEDA) signed a  20 million ($11 million) Egyptian pounds loan  with Plus Leasing for developing new  and current SMEs in the Governorates,, Nevine Gamea,  MSMEDA Director  said.Gamea added that The contract aims to re-lend SMEs on a leasing basis and to finance  leasing business equipment, devices and vehicles. Under the deal, Plus Leasing will sign 44 contracts with SMEs, expecting to create 220 new job opportunities, Gamea said. More»
Amwal Al Ghad English - 2017-12-31 09:43:08
Egyptian composite insurer Suez Canal Insurance seeks to increase its investments portfolio by the end of June  2018 to reach 754 million Egyptian pounds ($42.4 million) compared to 704 million pounds in June 2017 with a growth rate of 7 percent. Mohamed Abdel-Hafez, Financial and Administrative Affairs Head Sector, said that his company aims to achieve returns on investments of 52 million Egyptian pounds  during the financial year 2017/2018. More»
Amwal Al Ghad English - 2017-12-26 08:39:48
Bitcoin extended its recovery in holiday-thinned trading on Tuesday, rising 10 percent to be up more than a third from last week’s lows of below $12,000.Bitcoin, the world’s biggest and best-known cryptocurrency, fell nearly 30 percent at one stage on Friday to $11,159.93 and, despite a late recovery, had its worst week since 2013. At 0445 GMT on Tuesday, it was quoted around $15,049 on the Luxembourg-based Bitstamp exchange. The digital currency had risen around twentyfold since the start of the year, climbing from less than $1,000 to as high as $19,666 on Dec. 17 on Bitstamp and to over $20,000 on other exchanges. But it has posted heavy declines since. More»
Amwal Al Ghad English - 2017-12-25 12:07:53
Egyptian investment bank EFG Hermes is seeking to manage renewable energy projects totaling 400-500 megawatts in the north African country in the coming three years, said the bank’s energy head Bakr Abdel Wahab on Monday. EFG Hermes, one of the largest investment banks in the Middle East, is currently active in the renewable energy sector in Europe through a green company called Vortex. “We are thinking of establishing a holding company to manage energy projects, like Vortex, but in Egypt,” said Abdel Wahab. He said the projects that the bank was targeting were worth at least $250 million in investments and that the bank was looking to reach 2000 megawatts by 2020 with a capital of $500 million. “The stations that we’re going to invest in will be built in the first quarter of 2018 and we expect them to start operating in 2019,” said Abdel Wahab. He expected renewable energy to attract investors from the Gulf and Asia in 2018.Egypt hopes renewable energy will cover 20 percent of its annual electricity demand by 2020. More»