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

Islam Abdelhameed - 2016-12-18 11:33:00
Egyptian Life Takaful Company – GIG seeks to relaunch the National Bank of Kuwait –Egypt’s (NBK Egypt) mutual fund as part of plans to boost its investment portfolio, managing director announced Sunday. The capital of the NBK-Egypt’s fund is worth 50 million Egyptian pounds ($2.7 million), Rimah Asaad further told Amwal Al Ghad. “We are holding some discussions with the book runner, NBK Capital Company to study mechanisms to relaunch the fund in the coming period.” Asaad said. The discussions involve setting the suitable time to relaunch the fund, he added. Egyptian Life Takaful Company – GIG, is 60.62 percent owned by Kuwait’s Gulf Insurance Group. More»
Islam Abdelhameed - 2016-12-17 14:42:36
Egypt’s state-run Misr Petroleum Co is putting out to tender on a new import cargo insurance policy, sources with knowledge told Amwal Al Ghad on Saturday. The policy is designed to provide coverage for cargo or goods carried through various modes of transport and transit, in accordance with the Institute of London Underwriters’ (ILU) clauses A, B, and C. The policy is three-year term, with total sum insured of 100 million Egyptian pounds ($5.5 million) per year, the sources added. Most of the insurance firms are competing to win Misr Petroleum’s policy tender, including Misr Insurance Company, Wethaq Takaful Insurance – Egypt, Egyptian Takaful Insurance Property and Libility (EGTAK), Arab Misr Insurance Group –GIG, and Tokio Marine General Takaful Egypt, the sources said. The policy will cover the insured against total and partial losses through various modes of transport and transit, the sources concluded. More»
Amwal Al Ghad English - 2016-12-17 09:49:59
Fitch Ratings has affirmed on December 15th Egypt's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'B' with a ‘Stable’ Outlook. The issue ratings on Egypt's senior unsecured foreign- and local-currency bonds are also affirmed at 'B'. The Country Ceiling and the Short-Term Foreign- and Local-Currency IDRs are all affirmed at 'B'. More»
Amwal Al Ghad English - 2016-12-14 09:55:00
Egypt’s President Abdel Fattah al-Sisi will receive Wednesday Philippe Le Houérou, CEO of the International Finance Corporation (IFC), the private sector arm of World Bank. IFC is the largest global development institution that focuses on the private sector in developing countries. Le Houérou is paying his first official visit to Egypt Wednesday for two days. IFC official is expected to meet with Egyptian Minister of International Cooperation and Egypt’s Governor to World Bank and IFC, Sahar Nasr as well as a number of government officials to discuss cooperation between Egypt and IFC. During the period from 2015-2016, an approximate amount of $580 million was utilised, accounting for 30 percent of the IFC’s $2 billion cooperation portfolio with Egypt. The Egyptian officials will discuss with Le Houérou the current challenges facing the private sector in Egypt and means to have IFC’s support for a number of future projects, said minister Nasr in a statement released on Monday. IFC’s top priority in Egypt are the projects that involve sectors of infrastructure, renewable energy, transport, water, and education, she added. “Egypt hopes to boost the volume of cooperation with the IFC for upcoming water treatment, small and medium-sized, as well as private sector projects.” Minister Nasr said in an earlier statement. More»
Amwal Al Ghad English - 2016-12-13 08:33:23
International Monetary Fund (IMF) chief Christine Lagarde has gone on trial in France for negligence over a compensation payment made by a state-owned bank to a businessman in 2008. As finance minister of then-President Nicolas Sarkozy, she approved an award of €404m ($429m; £340m) to Bernard Tapie for the disputed sale of a firm. Mr Tapie had supported Mr Sarkozy in the 2007 presidential election. She is accused of allowing the misuse of public funds, rather than corruption. She denies wrongdoing. The case originates in the early 1990s, when Mr Tapie was a majority shareholder in sports goods company Adidas. More»
Islam Abdelhameed - 2016-12-12 16:44:02
Egyptian Media Production City (EMPC), the country’s biggest built information and media complex, is putting out to tender on a new medical insurance policy for its employees. The insurance policy is with total sum insured of around 62 million Egyptian pounds ($3.4 million) designated to server around 2,504 employees, sources with knowledge of the matter told Amwal Al Ghad on Monday. The coverage will be worth 25,000 pounds per person, according to the EMPC insurance policy, whose cover will involve surgeries, endoscopes, medical bills, outpatient clinics, medicines, dental treatment, and chronic diseases, the sources added. The policy will also cover the costs of medical tests, surgeries, treatment of mental illness, intensive care, and dialysis, according to the sources. EMPC is set to open the technical envelopes on Tuesday, December 13th, the sources said, referring that the main insurers competing to win this tender are Royal Insurance Company and Egyptian Saudi Insurance House. More»
Islam Abdelhameed - 2016-12-12 14:32:43
The investment portfolio of AXA Egypt, part of French AXA Insurance Group, has reached 4 billion Egyptian pounds approximately ($218.3 million), chief executive Gilbert Chahine announced Monday. The investments are notably in the Egyptian government debt instruments including treasury bills and treasury bonds in addition to some in the country’s stock exchange, AXA Egypt official added. “AXA Egypt seeks to boost this portfolio as we are studying adding two more economic activities to AXA’s businesses in the coming period,” Chahine said. “We are targeting growth rates ranging between 20 and 30 percent per year in the next three years.” He added. AXA Egypt’s property and medical insurance premiums have reached 100 million pounds out of total premiums of one billion pounds registered by the end of June this year, Chahine stated. AXA Egypt offers life, health, property, accident insurance services for individuals, Small and Medium-sized Enterprises (SMEs), and corporations. AXA, France’s largest insurer, is a multinational, investment banking firm headquartered in the 8th arrondissement of Paris that engages in global investment banking, securities, investment management, insurance, and other financial services. It is one of the world leading insurance and asset management groups, serving 102 million clients, individuals and business, in 56 countries. More»
Amwal Al Ghad English - 2016-12-12 12:17:58
Philippe Le Houérou, chief executive of the International Finance Corporation (IFC), the private sector arm of World Bank, will pay his first official visit to Egypt next December 14-15th. IFC is the largest global development institution that focuses on the private sector in developing countries. Le Houérou is set to meet with Egyptian Minister of International Cooperation Sahar Nasr, who is also the country’s governor at the World Bank, alongside some senior government officials, to discuss means to boost cooperation between the IFC and Egypt. IFC’s portfolio of cooperation with Egypt currently accounts for $2 billion. The Egyptian officials will discuss with Le Houérou the current challenges facing the private sector in Egypt and means to have IFC’s support for a number of future projects, said minister Nasr in a statement released on Monday. IFC’s top priority in Egypt are the projects that involve sectors of infrastructure, renewable energy, transport, water, and education, she added. “Egypt hopes to boost the volume of cooperation with the IFC for upcoming water treatment, small and medium-sized, as well as private sector projects.” Minister Nasr said. More»
Islam Abdelhameed - 2016-12-07 19:01:13
Three insurers are fiercely competing to win an insurance policy tender launched by the Egyptian stock Exchange (EGX) as their technical offers announced eligible, sources with knowledge of the matter said Wednesday. The three qualifiers are Misr Insurance Company, Mohandes Insurance Company, and Egyptian Takaful Insurance Property and Libility (EGTAK), the sources further told Amwal Al Ghad. The Egyptian bourse has launched the tender to insure the assets and properties of its headquarters and buildings in Smart Village, Downtown, and Alexandria. “EGX will determine the time of opening the envelopes to announce the winner within the next few days.” The sources said. With total sum insured of around 250 million Egyptian pounds ($13.8 million), the EGX policy is a one-year renewable term to provide insurance coverage against risks of fire, natural disasters, riots, civil disorders, workers’ strikes, dishonesty, and cash transfer. The policy also includes car insurance coverage for the vehicles owned by the EGX against accidents and damages resulted in fires and burglary, the sources added. More»
Mohamed Hamdy & Sayed Badr - 2016-11-30 14:03:14
Egypt-based Shariah-compliant leasing firm, A.T. Lease decides once again to postpone the issuance of 2 billion Egyptian pound ($111.8 million) securitisation bonds due to the growing interest rates. “The securitisation was part of A.T. Lease’s five-year plan to finance upcoming activities, but we are forced now to postpone this move as a result of the continually rising interest rate,” chief executive Tarek Fahmy told Amwal Al Ghad o Wednesday. A.T. Lease’s five-year plan involves a financing portfolio of 1.6 billion pounds, 0 percent insolvency, and a 15 percent market share by the end of 2016, he stated. “The high interest rates will raise the costs of the issuance process and increase the financial burdens on us; we hoped to issue the bonds early 2017 but now we will wait and see if the central bank decides to lower the interest rates.” Fahmy added. Earlier, Egypt's central bank decided on November 3rd to freely float the pound and raise key interest rates by 300 basis points. The overnight deposit rate, the overnight lending rate and the rate of the CBE's main operation have been raised to 14.75 percent, 15.75 percent, and 15.25 percent respectively.A.T. Lease commenced its operations in 2006 to be the first Islamic Shariaa Compliant leasing company in Egypt. The ownership of A.T. Lease is divided over three entities, 89.9 percent for Arab Moltaqa Investment Company (AMIC), 10 percent Dallah Al-Baraka Group (DBG), and the remainder is owned by A.T.Brokerage in Bahrain. More»