amwalalghad :: Financial Institutions

Your English Portal To Arab Economy

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        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        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 - Financial Institutions

Amwal Al Ghad English - 2017-12-23 06:14:44
The International Monetary Fund (IMF) will raise its forecast for Egypt’s economic growth to 5.5 percent within the financial year 2018/2019, up from 5.3 percent in the first review. In a report released by the IMF Thursday morning, the fund said the executive board approved the third $2 billion tranche of Egypt’s $12 billion Extended Fund Facility. With receiving the latest tranche, the IMF would have paid a total value of $6.08 billion to Egypt under the agreement that was reached in November 2016. The First Deputy Managing Director David Lipton said in the statement that the results of Egypt’s economic reform program are “encouraging”. “The economy is showing welcome signs of stabilization, with GDP growth recovering, inflation moderating, financial consolidation remaining on track, and international reserves reaching their highest level since 2011,” Lipton said, adding that the banking system was strong enough to buffer market shocks. The Central Bank of Egypt’s (CBE) actions to control inflation could allow the gradual easing of interest rates, “but the CBE should remain vigilant and be prepared to tighten the monetary stance if demand pressures re-emerge,” he added. More»
Amwal Al Ghad English - 2017-12-21 09:52:34
The premium investors demand for holding Spanish bonds over top-rated German peers held close to its narrowest levels in three months on Thursday, as Catalonia holds an election that Spain's government hopes will end the wealthy region's independence bid.Spain's government hopes that the Catalonia election will strip pro-independence parties of their control of the Catalan parliament and end their campaign to force a split with Spain. More»
Amwal Al Ghad English - 2017-12-20 14:29:50
The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has  injected 76.5 million Egyptian pounds ($4million) in 4,000 SMEs within Marsa Matrouh governorate, MSMEDA Director Nevine Gamea said. Around  44 million Egyptian pounds were directed to infrastructure, labor-intensive and development projects, creating 6,000 job opportunities, Gamea added. More»
Amwal Al Ghad English - 2017-12-18 12:56:22
Egyptian Minister of Investment Sahar Nasr and the Japan International Cooperation Agency (JICA) signed a 993 million yen ($8.8 million)  to supply education and research devices for the Egypt-Japan University of Science and Technology (E-JUST).During her visit to Tokyo where she met with JICA Vice President Kazuhiko Koshikawa, Nasr said the project targets providing the educational content for the Faculty of Engineering students through supplying needed devices."It also aims to attract Japanese companies and authorities and use their capabilities in training and transferring technology," Nasr added. More»
Enas Shaaban - 2017-12-18 12:56:41
Japan’s state-run export credit agency Nippon Export and Investment Insurance (NEXI) plans to boost support for infrastructure projects in Egypt, its chairman Kazuhiko Bando said Monday. Bando made his remarks during his meeting with Egyptian Minister of Investment Sahar Nasr, who is visiting Japan this week. NEXI has provided insurance to support commercial bank loans for the wind power plant project implemented on the Gulf of Suez, 260 km (161.5 miles) southeast of Cairo, Bando said. NEXI’s financial support to this project will help Japanese companies to have more business opportunities in Egypt and other African countries, and will also help strengthen and maintain their international competitiveness in the energy development including renewable energy, he said. This was the first time that NEXI had provided long-term insurance for an Egyptian project since the outbreak of the Arab Spring. This is also the first loan insurance provided by NEXI to support project finance for an independent power producer (IPP) project in Egypt. Ras Ghareb Wind Energy will build, own, and operate the 262.5 MW wind power plant. Ras Ghareb will raise $320 million in total in the form of co-finance, of which Japan Bank for International Cooperation will provide $192 million, Sumitomo Mitsui Banking Corporation, and Societe Generale-Tokyo Branch will provide $128 million, NEXI said in a statement earlier this month. NEXI will provide insurance to support the loans of the two commercial banks. More»
Amwal Al Ghad English - 2017-12-18 09:12:50
Egypt has asked banks for proposals to arrange U.S. dollar-denominated Eurobonds, banking sources told Reuters on Sunday. The request was made last week, the sources said, but provided no further details. The finance ministry was not immediately available for comment, but Finance Minister Amr el-Garhy said in October that Egypt would issue a dollar-denominated Eurobond between January and February 2018, to be followed by a euro-denominated debt sale later in the year. Egypt issued $7 billion in international bonds this year, through a $4 billion trade in January, and a re-opening of the same bond in May. BNP Paribas, Citigroup, JP Morgan and Natixis arranged the issues. More»
Amwal Al Ghad English - 2017-12-18 07:41:06
Bitcoin trading is illegitimate in Egypt, Head of the Egyptian Financial Supervisory Authority (EFSA) Mohamed Omran said  during his meeting with the Parliament’s Economic Affairs Committee. “EFSA allows merely transactions involved in the financial control laws,” Omran noted, adding that his authority will announce more details on dealing with trading in Bitcoin soon. He added the modifications, which will soon launch on Egypt’s Capital Market Law, stipulate that any impermissible activity is illegal and imposes a penalty on anyone practicing it. Deputy Head of EFSA noted that it is not clear who the ultimate beneficiary of trading in Bitcoin is, adding that he recommends people do not buy or sell the digital currency. More»
Mohamed Hamdy - 2017-12-17 13:51:52
Egypt's microfinance activity continued its growth over the third quarter (Q3) of 2017 to register 6.1 billion Egyptian Pounds,  increasing by  10 percent compared to Q2 2017, Mohamed Omran, Chairman of the Egyptian Financial Supervisory Authority (EFSA)  said. The number of clients who obtained microfinance services from companies or non-governmental organizations authorized to provide the microfinance  funding , recorded 2.1 million individuals who own industrial, service, handicrafts and commercial micro-sized projects. More»
Enas Shaaban & Sanaa Allam - 2017-12-17 13:28:38
European Commission approved a new financing for unions and chambers of industry and commerce in the Southern Mediterranean region, including Egypt, said an Egyptian official on Sunday. The new financing is in form of a grant worth €5 million that will be provided over three years, Alaa EZZ, Secretary General of the Confederation of Egyptian European Business Associations (CEEBA), said. Ezz made his remarks following a meeting with Johannes Hahn, EU Commissioner for European Neighbourhood Policy and Enlargement Negotiations. More»
Amwal Al Ghad English - 2017-12-17 08:35:35
Egypt’s MPs will begin Sunday discussing a government-drafted law on national health insurance in a plenary session, with the health minister saying a "a long-held dream is becoming a reality". The discussion comes after parliament's Health Affairs Committee approved the draft law 9 December. Minister of Health Ahmed Emadeddin told the committee that "the long-term dream of a national health insurance system in Egypt is becoming a reality." "If parliament approves the 70-article law before the end of the year, a comprehensive health insurance system could be in place within six months," he added. According to Emadeddin, funding will not be a problem "as resources are available to ensure the system delivers quality medical and health services, particularly to the poor and limited-income classes." Committee head Mohamed El-Emary told reporters that the discussion of the draft law took more than one month. "Ministers of health and finance, and head of the general organisation of health insurance were all keen to attend the discussion in order to answer committee members' questions," said El-Emary. "In line with the constitution, the committee also canvassed the views of civil society organisations, representatives of syndicates of doctors, pharmacists, dentistry, and physiotherapy, and private health service providers." El-Emary, however, said a final draft will be ready only after the plenary discussion, paving the way for "issuing a national health law, which has been discussed since 2002 though there has been insufficient political will to push it forwards." More»