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        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        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        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

Yomna Yasser - 2018-02-10 07:50:55
Egypt’s inflation is expected to fall between 10 to 13 percent at the end of the current year, Finance Minister Amr el-Garhy said on Saturday on the sidelines of the third annual Arab Fiscal Forum in Dubai. The forum is organised by the Arab Monetary Fund and the International Monetary Fund, in Dubai, in preparation for the annual World Government Summit, which will take place on Sunday, February 11th.  Egypt’s annual inflation rates dropped in January to their lowest levels since the country floated its currency in November 2016, official data showed earlier on Thursday. The Egyptian pound lost half of its value and prices shot up after Egypt floated the currency in November 2016 to secure a $12 billion International Monetary Fund (IMF) deal to revive its economy. Annual urban consumer price inflation eased to 17.1 percent in January from 21.9 percent in December while annual core inflation, which strips out volatile items, fell to 14.35 percent from 19.86 percent. Inflation reached a record high in July of around 35 percent on the back of energy subsidy cuts but then gradually declined as inflationary pressure caused by Egypt floating its currency eased. The IMF said in a report last month it expected inflation to fall to 12 percent by June and to single digits by 2019. It warned against a premature rate cut and urged the CBE to remain vigilant. Egypt’s central bank has raised key interest rates by 700 basis points since November 2016 in an attempt to ease soaring inflation. Despite inflation easing, many Egyptians say they are still finding it hard to make ends meet. Bringing down inflation is key for President Abdel Fattah al-Sisi who is running for a second term in a March election and is widely expected to win. More»
Yomna Yasser - 2018-02-10 07:13:46
International Monetary Fund (IMF) Managing Director Christine Lagarde said Saturday that the global economic recovery has strengthened, yet it is not lifting the Middle East region enough. “The world economic growth at a pace of 3.9 percent in 2018 and 2019 is back on, with 75 percent of the world economy sharing in the upturn. Yet this tide is not lifting this region enough.” Lagarde said at the third annual Arab Fiscal Forum, organised by the Arab Monetary Fund and the International Monetary Fund, in Dubai.  The forum is organised by the Arab Monetary Fund and the International Monetary Fund, in Dubai, in preparation for the annual World Government Summit, which will take place on Sunday, February 11th. For oil exporters, oil prices have rebounded to half-way between their lows and their highs from a few years ago, which is still putting significant pressure on fiscal balances and it calls for a different economic model, the IMF official added. Lagarde said growth for oil importers is expected to rise, but “nowhere to near what is needed to provide enough jobs for the young people joining the labour market.” “Youth unemployment is the highest in the world—averaging 25 percent, and exceeding 30 percent in nine countries.” Over 27 million hopeful young people will join the workplace over the next five years, anxious to be included, but so far their aspirations are unfulfilled, and their understandable frustration is compounded by perceived unfairness, Lagarde added. Public debt has been on the rise, exceeding 50 percent of GDP in many of these countries, Lagarde said, referring to other challenges some countries are dealing with such as conflicts, terrorism, large inflows of refugees, and heightened security risks. “So, there are big challenges all around. Stability is ultimately at stake.” Lagarde said. Unless fiscal policy is on a sustainable path, rising debt will weigh on already overburdened young people, and there will not be space to fund the spending needed for inclusive growth, she said. Revenue and expenditure policies complement each other and should be evaluated jointly as a package to achieve fiscal, economic, and social objectives, Lagarde explained. More»
Yomna Yasser - 2018-02-10 06:22:29
International Monetary Fund (IMF) Managing Director Christine Lagarde has reiterated Saturday her call for removing energy subsidies worldwide and notably in the Middle East region. “There is really no excuse for the continued use of energy subsidies.” Lagarde said, referring to three key factors, at the third annual Arab Fiscal Forum, organised by the Arab Monetary Fund and the International Monetary Fund, in Dubai.The forum is organised by the Arab Monetary Fund and the International Monetary Fund, in Dubai, in preparation for the annual World Government Summit, which will take place on Sunday, February 11th. Egypt’s central bank has floated the pound currency in November 2016, followed by witnessing other austerity measures included the cutting of fuel and energy subsidies, as part of a $12 billion, three-year bailout loan deal with the IMF. Energy subsidies are “extremely costly”; they are averaging 4.5 percent of GDP among oil exporters and 3 percent of GDP among oil importers, despite lower oil prices, the IMF official added. Subsidies “lack transparency”; they are often “implicit and off budget”, Lagarde said. They are vastly inequitable, favouring the wealthy who consume a lot of energy. “They are subsidising environmental harm at a time when we need to go in the opposite direction, to protect the planet and peoples’ lives, health, and futures.” Lagarde explained. For cutting energy subsidies, oil importers have also made progress, she said. "Egypt, for example, has committed to further energy reform in its programme supported by the IMF," Lagarde added. “The region is off to a promising start on energy subsidies, but there is still a long way to go—especially by depoliticising fuel price setting and introducing automatic pricing mechanisms. More»
Amwal Al Ghad English - 2018-02-06 09:19:19
Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and U.S. banks.On the Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked a fall of more than half from a peak of almost $20,000 hit in December. Bitcoin has fallen in six of the last eight trading session. The currency, which surged more than 1,300 percent last year, has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Last week bitcoin suffered its worst weekly performance since 2013. More»
Amwal Al Ghad English - 2018-02-06 07:27:10
IMF Director for the Middle East and Central Asia Department Jihad Azour predicts that no additional taxes will be implemented in Egypt in 2018. He said that the monetary policy that the Central Bank of Egypt is pursuing is sound and is based on keeping inflation levels in check. Azour pointed out that economic reforms in Egypt have contributed to raising confidence in the economy and attracting foreign capital. He added that some sectors have been able to resume their activities including the country’s tourism and export sectors. The IMF official stressed that Egypt’s focus is on moving forward with structural reforms, solving investment problems and strengthening partnerships with the private sector. “We support the monetary policy adopted by the Central Bank of Egypt to control the inflation levels, which led to a decline in inflation rates from 30 percent last year to 22 percent,” he said. The inflation level is expected to reach between 10 and 12 percent in 2018, he said. Egypt’s total tax revenues increased by 62 percent during the first half of the current financial year 2017/2018, reaching 249 billion pounds. More»
Amwal Al Ghad English - 2018-02-06 07:20:35
Egypt is to issue dollar-denominated Eurobonds worth $4 billion to $5 billion within the next few days, Finance Minister Amr El-Garhy said on Sunday. Egypt sold $7 billion in five-, 10- and 30-year bonds last year as it begins its return to international markets after turmoil following the ousting of president Hosni Mubarak in 2011. More»
Islam Abdel-hamid - 2018-02-04 11:37:31
Egyptian Life Takaful-GIG seeks to promote its insurance service through Misr Iran Development Bank 20 branches within two years of activating the bancassurance agreement, the managing director of GIG Ramah Asaad said. The company seeks to promote its services through five branches of  Misr Iran Bank, which are expected to increase to 10 branches with in the current year, he added. For GIG, Misr Iran Bank will be the sixth bank to enter the bancassurance partnership with, as it signed agreements earlier with Bank Audi Egypt, Abu Dhabi Islamic Bank, National Bank of Kuwait (NBK), National Bank of Abu Dhabiand Banque Misr. More»
Amwal Al Ghad English - 2018-02-03 08:24:33
Bitcoin's price dipped below $8,000 for the first time in 11 weeks in the midst of a broader cryptocurrency sell-off. The volatile digital asset fell as low as $7,695.10 on Friday according to CoinDesk, marking the first time it has fallen below the $8,000 level since November 24. CoinDesk's bitcoin price index tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex. The price of bitcoin recovered to $8,618 mid-Friday morning New York time.Multiple virtual currencies have dropped significantly as regulators voiced concerns about them and worries grew over suggestions that the price of bitcoin has been propped up by popular exchange Bitfinex. On Wednesday, Indian Finance Minister Arun Jaitley warned against criminal activity associated with cryptocurrencies, and said that India would "eliminate" the use of cryptocurrencies in "illegitimate activities." A number of critics have railed against cryptocurrencies like bitcoin, citing extreme price swings and worries of dubious activities associated with the crypto world, such as money laundering. Notably, J. P. Morgan Chief Executive Jamie Dimon called the world's largest cryptocurrency, bitcoin, a "fraud," and said that he thought it would eventually "blow up." More»
Gehad Abdelghany, Islam Salah - 2018-01-30 12:22:58
Second MENA Investor Conference started in Cairo on Wednesday organized by Local financial services group CI Capital, with the participation of 200 investors from 75 leading global institutional investment firms, with total assets under management (AUMs) of $10 trillion. CI Capital is an investment bank in Egypt with market-leading investment banking, securities brokerage, asset management and research franchises. The conference allows the participants to meet with ministers, senior government officials, and top listed companies on the Egyptian and Arab stock exchanges. More»
Amwal Al Ghad English - 2018-01-29 08:25:39
A high-level Egyptian delegation will take part in a conference organised by the International Monetary Fund (IMF) in tandem with the Arab Monetary Fund (AMF), the Arab Fund for Social and Economic Development (AFESD) and the Government of Morocco. The Egyptian delegation groups the Central Bank of Egypt governor and the Minister of Finance. The high-level conference - due to open in Marrakesh on Monday - is to discuss ways of promoting inclusive economic growth and job creation in the Arab World. The two-day conference is held under the theme of "Opportunity for All -- Promoting Growth, Jobs, and Inclusiveness in the Arab World." The get-together will bring together policy makers, corporate executives, academics, youth, media and civil society representatives from countries in the Arab World and beyond to exchange their experiences, lessons and ideas on how to create millions of jobs by exploiting new sources and sectors of growth. Building on the 2014 Amman conference “Building the Future” which highlighted the need for growth to generate jobs and for its benefits to be shared more widely, the 2018 conference aims to move the dial on discussions on inclusive growth in the Arab World from endorsement to implementation. Key topics to be discussed at the conference will include how to scale-up opportunities for women and youth by promoting entrepreneurship and innovation; embracing transparency and technology to unlock the region’s potential; and designing government policies that act as enablers of higher and more inclusive growth. More»