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        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        Canal Shipping Agencies   7.39        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        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

Sherine Taha - 2012-03-26 18:02:29
An insurance source in a major insurance brokerage company, expected the sector to witness bankruptcy of 20 brokerage companies out of the existing 33 companies in the Egyptian insurance market, as the source also recommended the market to witness a merger between those companies as an alternative to the foreseen crash. The source also declared that he was presented two offers of acquiring two brokerage companies in the Egyptian market, as these companies couldn’t achieve any sales or profits to make them surviving in the market currently, and he added that he did not make any deals of acquisition or offering consultancy to restructure the business management. More»
Sherine Taha and Islam Abd ElHameed - 2012-03-26 09:49:26
Abdel Monem Bakheet, chairman of Cooperative Insurance Society-Egypt, criticized some employees at CIS who claimed that elections of senior membership at CIS Board of Directors were forged. These elections resulted in the victory of Dr. Ali Shaker, head of insurance department at Faculty of Commerce in Cairo University, and Nazhy Ghalioum, former managing director at Iskan Insurance Company. Social Fund for Development, who received the complaint from the employees, sent a representative at the elections which were subject also to judicial supervision; therefore it is impossible that the elections would be forged. Asked about summoning some of members at the general assembly to elect certain candidates, Bakheet said that every candidate has the right to call on his supporters to vote for him. Some of CIS’s employees including Moahmed El-Sabe, former managing director at CIS and former candidate for senior membership, submitted a complaint for Ghada Wali, general secretary of Social Fund for Development and representative of the Fund at CIS’s Board of Directors, against CIS’s Board accusing them of forging elections of senior membership at CIS. More»
Sherine Taha and Islam Abdel Hameed - 2012-03-25 16:57:17
Gras Savoye Company, insurance broker, got an initial approval from Egyptian Financial Supervisory Authority, as this for constructing a double mission company; customer’s insurance investments, and administrative services for insurance companies. The company’s managing director Hamed Mabrouk said that the company has been constructed due to the Egyptian market needs it during this time for working on increasing the people’s insurance culture and awareness. He explained that the broker’s role is to provide customers with consultations, and companies with services. More»
Sherine Taha and Islam Abd ElHameed - 2012-03-25 14:18:29
Some employees at Cooperative Insurance Society-Egypt submitted a complaint to Ghada Wali, general secretary of Social Fund for Development and the fund representative at CIS board, against the board of directors accusing them of forging the elections of senior membership at CIS board of directors. These elections resulted in the victory of Dr. Ali Shaker, head of Insurance Department at faculty of Commerce in Cairo University, and Nazhy Ghalioum, former managing director at Iskan Insurance Company. Moahmed El-Sabe, former managing director at CIS and former candidate for the senior membership, said that the Board summoned a number of farmers in debt at the general assembly and told them to elect certain persons. The complaint is submitted to Social Fund for Development as CIS is dealing with frequently and that there is a representative for the Fund in CIS’s board, El-Sabe explained. El-Sabe said employees demanded that the Board shall step down and that another election shall be held. The current board paid about 40 thousand as travel allowances for some of the members at the general assembly so as to elect certain candidates. More»
Sherine Taha and Islam Abd ElHameed - 2012-03-24 16:06:57
Founding a union or a syndicate for brokers necessitates legislative amendments, said Adel Shaker, chairman of Egyptian Insurance Brokers Association. The under construction Union of Brokerage Companies is facing many difficulties as amending laws takes a long time especially amid the current political unrest. Shaker said that the Union founders have two choices; the first is joining the six-year old EIBA (Egyptian Insurance Brokers Association) and the second is demanding the establishment of a union only for brokerage companies but, Shaker added, they did not decide till now. Shaker clarified that it is permissible to be a member at EIBA and any other union at the same time. It is worth mentioning that EIBA has international expertise and is a member at Union of the Mediterranean countries. More»
Amwal Al Ghad - 2012-03-24 07:42:32
US President Barack Obama on Friday nominated Jim Yong Kim, a Korean-American known for his work in fighting disease in impoverished countries to lead the World Bank.Jim Yong Kim, 52, is president of Dartmouth College, an Ivy League school in New Hampshire, and former director of the Department of HIV/AIDS at the World Health Organization.Despite the challenge from emerging nations - Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian finance minister Jose Antonio Ocampo were also nominated - the United States is expected to maintain its grip on the job, which it has held since the bank was founded after World War Two."He's worked from Asia to Africa to the Americas - from capitals to small villages," Obama said. "His personal story exemplifies the great diversity of our country and the fact that anyone can make it as far as he has as long as they're willing to work hard and look out for others."Washington's past picks for the World Bank presidency have had more standing in political circles and Kim's name had not surfaced in several media reports on potential nominees.Okonjo-Iweala, a respected economist and diplomat, is likely to draw support from many emerging nations that want to see the bank focus more on helping their economies develop and less on traditional poverty-fighting aid. Her backing by Angola, Nigeria and South Africa was a rare example of unity among countries often at loggerheads.Ocampo's nomination by Brazil also signaled the desire of emerging markets to have a competitive process as they move to try to upend the tradition of always having an American lead the World Bank and a European lead the International Monetary Fund. More»
Sherine Taha and Islam Abd ElHameed - 2012-03-22 13:35:25
Blom Bank increased its shares in Arope Insurance Group with 9.5%; 4.75% in Arope Property Insurance Company and 4.75% in Arope Life Insurance Company. Michael Kelada, assistant managing director at Arope Insurance Group, said that Blom’s share in property insurance reached 39.75% compared to 19.75%. Kelada negated what is said about Arope’s plan to pull out of the Egyptian market or merge with another company. Arope will increase its EGP 110 million capital with EGP 20 million; 10 million for each company, Kelada added. Arope Life Insurance shares are divided among Arope Insurance Group, Blom Bank Egypt and Blom Bank Egypt Securities by 80%, 15% and 5% respectively. Arope Property Insurance shares are divided among Arope Insurance Group, Blom Bank Egypt and Blom Bank Egypt Securities by 60%, 35% and 5% respectively. More»
Amwal Al Ghad - 2012-03-22 10:44:40
Dubai Islamic Insurance & Reinsurance Company (AMAN) held its Annual General Meeting on March 21, 2012, at the Godolphin Ballroom of the Emirates Towers.During the meeting, the committee present approved the reporting of the company's balance sheet and profit & loss account reports for Financial Year 2011-2012 and also elected the board of directors for the ensuing terms.The newly elected board is composed of Mohammed Omair Al Mohairy, Salem Rashid Al Mohanadi, Hussein Mohammed Al Meeza, Saleh Abdullah Lotah, Yousef Ali fadel bin Fadel, Abdullah Ibrahim Al Dabous and two new members, Naser Falah Al Qahtani and Abdul Raheem Mohammed Al Zarouni.The general meeting also covered the review of the reports submitted by the board of directors and the report of the Fatwa and Shari'a Supervisory Board on the company's business for the same period. The meeting marked the end of the terms for FY 2011 of current board members and auditors. Aside from the election of new board members, the committee also appointed auditors for the Fiscal Year 2012-2013. More»
Mahmoud Elrashidi - 2012-03-21 19:05:10
At the 2nd round of International Shariah Investment Convention “ISIC II” held in Cairo, Amania advisors and their guests proposed their expectations of the great opportunity of promoting the Egyptian industries, through the application of Islamic Finance principals on the various sectors of investment. Motaz Eldreny – Partner at Sarie- Eldien company- expressed his opinion about the factors needed for the proper application of Islamic Finance in Egypt, as he said that a legal and regulatory frame work should be provided to support the launch of this industry, as well as promoting the public acceptance of Islamic Finance and creating the culture that emphasizes its role, and he also assured that Islamic Banking should not be considered as a competitor to the Convention Banking, as he clarified also that Islamic Finance should be seen as an “Emerging Industry”, and not just seen from a religious point of view. More»
Mahmoud Elrashidi - 2012-03-21 17:45:38
Amanie Advisors and their guests have gathered for the 2nd International Shariah Investment Convention “ISIC II” that aims at discussing the development of a robust Islamic Financial Industry, as expected to be beneficial for attracting greater investment in Egypt. Ibrahim Zahaf – Managing Director of Amanie Advisor North Africa Office in Cairo- suggested that developing the capability to structure investment according to Islamic finance principles will bring benefits to Egypt, as he said “ There are links to be established with capital-exporting countries, both in Arabian Gulf countries and in Asia”, and he added “ Increasingly , the trend favors Islamic Finance”. More»