amwalalghad :: Financial Institutions

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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        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        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        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        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 - 2018-01-22 07:23:52
Egypt’s total tax revenues surged by 62 percent to 249 billion pounds during the first half of financial year 2017/2018, deputy finance minister for tax policies Amr Al-Mounir said. Total tax receipts increased by 41 percent to 103 billion pounds during the first half, while the value-added (VAT) revenues amounted to 121 billion pounds, making 83 percent growth rate, Al-Mounir further dded. Moreover, property tax revenues rose by 70 percent to 1.6 billion pounds, while customs receipts went up by 44 percent to 15 billion pounds. Given that finance minister Amr al-Garhy had previously said that tax revenues in Egypt’s general budget surged 31.8 percent during the financial year 2016/2017. More»
Ahmed Eldemerdash - 2018-01-21 11:46:30
Global Lease Company aims to pump funds 1 billion Egyptian pounds ($56 billion) during 2018, the company CEO Hatem Samir said. the total value of facilities received by the company from the banks during the last period has reached 2 billion Egyptian pounds through 13 banks, he added. The Company is negotiating with number of banks for funds worth 1 billion Egyptian pounds within 2018,  Samir noted. He added that Global Lease Company seeks to increase its capital to 200 million compared  to current amount of 112.5 million pounds, referring that this step reflects the company keenness on expanding its activities. The company's  total portfolio has exceeded 1,6 billion Egyptian pound capturing market share of 4.9 percent with total funds of 1,193 billion by the end of November 2017, he noted. The Egyptian conglomerate Wadi Degla Holding has launched its leasing arm, Global Lease, in cooperation with SANAD Fund, of Kfw Development Bank. More»
Amwal Al Ghad English - 2018-01-20 13:44:16
Egypt seeks to achieve economic growth rate between 6 and 8 percent within the upcoming few years, said finance Minister Amr el-Garhy on Thursday. El-Garhy further made his remarks at Story of a Nation event, which started Wednesday evening at the military-owned Al Masah Hotel in the county’s new administrative capital city. “The state (Egypt) plans to reduce the budget deficit by four percent within the next five years,” the minister stated, adding that that Egypt also hopes to narrow the debt level to GDP between 70 and 75 percent within 2020. More»
Amwal Al Ghad English - 2018-01-20 09:58:43
Bitcoin drifted slightly lower after surging in the last session to briefly top $12,000. Still, the cryptocurrency stayed above $10,000 — a milestone level it had fallen below for some time earlier this week. The volatile digital currency hit a high of $12,045.09 in the last 24 hours, up 30.9 percent from a low of $9,199.59 two days ago on CoinDesk. The site's bitcoin price index tracks prices from Bitstamp, Coinbase, itBit and Bitfinex. Bitcoin traded about 24 percent above that low at $11,477.39 early on Friday during Asian hours. "Large dips of 25 percent or greater are a feature of the global, super liquid, near-instant cryptocurrency trading environment," Nolan Bauerle, director of research at CoinDesk, said in an email. More»
Amwal Al Ghad English - 2018-01-18 06:08:29
Egypt's Finance Minister stated Tuesday that the external debt reached $79 billion at the end of 2017, not $100 billion, the figure claimed by Fitch Ratings Inc., one of the three biggest credit rating agencies in the world, after the agency raised its financial outlook regarding Egypt from “stable” to “positive.” Despite the improvement in its financial outlook for Egypt, Fitch Ratings Inc. kept the country’s credit rating at ‘B’. According to Fitch estimates, Egypt’s debt rose sharply at the end of last year to reach 44 percent of its GDP, after recording 23 percent of GDP at the end of 2016. The significant increase in external debt was the reason for the agency keeping Egypt’s credit rating at ‘B’. Political and security turmoil, alongside the high unemployment rate, has also stagnated an improvement in the country’s credit rating, the agency said. More»
Amwal Al Ghad English - 2018-01-17 08:43:03
Bitcoin briefly plunged below $10,000 late Tuesday afternoon on Coinbase, after first topping the psychologically key level in late November. Other major digital currencies also sold off sharply. Digital currency ethereum plunged 30 percent Tuesday, to below $1,000, while ripple fell below $1. In fact, nearly every major cryptocurrency suffered massive losses during the day. Ethereum traded at about $1,062 as of 8:12 p.m. ET. That represented a sizable rebound after hitting a low of $854 earlier in the afternoon. Coinbase is the leading U.S. marketplace for trading bitcoin, ethereum, litecoin and bitcoin cash. More»
Amwal Al Ghad English - 2018-01-17 06:53:45
Fitch Ratings revised the outlook for Egypt’s Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) to positive from stable, and affirmed IDRs at a ‘B’ rating, according to a press release issued by the credit rating agency on Tuesday. Fitch said that Egypt has achieved “significant progress” with its economic reform programme. “Fiscal consolidation is proceeding, although it will require a multi-year effort to reverse the increase in general government debt/GDP witnessed since the Arab Spring uprisings,” Fitch Ratings said. The agency forecasts government debt/GDP to fall to 93 percent in fiscal year 2017/18 from a peak of 103 percent in fiscal year 2016/17, and to 88 percent by the end of fiscal year 2018/19. “The key risk to this outlook is that reform momentum weakens,” reads the press release. Fitch Ratings expects the budget deficit to narrow further in fiscal year 2017/18 to 9.7 percent, and forecasts a primary surplus in fiscal year 2018/19 for the first time in over 15 years. The agency also forecasts a GDP growth of 4.8 percent in fiscal year 2017/18, on the back of exchange rate adjustment and the increase in gas production. “Relatively weak governance together with security and political risks continue to weigh on the rating,” the agency noted. “Nevertheless, fiscal and monetary reforms have so far not prompted a visible social backlash. The government has sought to mitigate this risk by bolstering social safety nets (including cash transfer schemes),” the agency added. The agency noted that high inflation will remain a rating weakness, but recognised that the inflationary spike that followed the EGP float and the fiscal reforms “is starting to subside.” Fitch stated that the effect of continued fiscal consolidation progress on government debt/GDP, sustaining stronger economic growth, and maintaining a high level of international reserves are factors that could lead to an upgrade in Fitch’s credit rating. As for factors that could lead to a negative rating, these include failure to narrow the fiscal deficit and decrease government debt/GDP, the reversal of reforms, and pressure on international reserves that could be induced by the balance of payments. Fitch Ratings is one of the three biggest international credit rating agencies, along with Moody’s and Standard and Poor’s. Credit rating calculates if a borrower is likely to pay back a loan without defaulting. Investors use ratings by such agencies as indications on where their investments would yield a return. More»
Amwal Al Ghad English - 2018-01-17 06:42:08
Moody’s expects Egypt’s GDP growth to accelerate to around 5 percent by 2019 and 5.5 percent by 2021, up from 4.2 percent in 2017, the credit rating agency said on Tuesday. The forecast for GDP growth in Egypt comes “as structural reforms support more broad-based activity compared to the mostly consumption-driven pre-reform growth model,” Moody’s said. Egypt had revised its GDP growth forecast to 5.3-5.5 percent for fiscal year 2017/18, from a previous 4.8 percent, the Planning Ministry announced last week. Moody's forecast was part of the agency’s announcement of a stable outlook for the Levant and North Africa in 2018 on the back of improving growth that “offsets persistent fiscal and political risks.” “High debt levels, low debt affordability, large funding needs and relatively high debt roll-over rates increase Lebanon, Egypt, and Jordan's exposure to a sharper-than-expected rise in interest rates,” the agency added. This comes despite the fact that fiscal reform programmes and liquidity assistance mitigate exposure to higher interest rates, Moody's notes. The agency also said that fiscal consolidation will be more challenging for Tunisia, Egypt and Lebanon. Moody’s Investors Service had affirmed in August 2017 Egypt's long-term issuer and senior unsecured bond ratings at B3, maintaining a stable outlook. The agency left Egypt’s rating unchanged since then, a decision mainly driven by the country's high debt levels. More»
Amwal Al Ghad English - 2018-01-16 13:06:55
The net investments of the insurance companies registered 86 billion Egyptian pounds ($4.8 billion) by the end of June 2017, Chairman of the Egyptian Financial Supervisory Authority (EFSA) Mohamed Omran said. During an annual conference to showcase the authority achievements during 2017, Omran said that the growth rate of the net investments posted 40 percent compared to what has been achieved at the end if the last financial year. He added that EFSA is paying great attention to the insurance sector during the upcoming period so that 2018 would become the insurance year, where as it is planning to issue a comprehensive law for the insurance sector and private insurance funds. In August 2017, Egypt has picked former stock market chief Mohamed Omran to lead the Egyptian Financial Supervisory Authority (EFSA), the agency responsible for the supervision of non-banking financial markets and instruments. More»
Mohamed Hamdy - 2018-01-15 14:39:29
BM for Financial Leasing (BM Lease) aims to pump funds in the market of 1 billion Egyptian pounds ($56 billion) during the current year, Hisham Sheta, managing director of the company said BM Lease started its activities in October after the company was established in March. It managed to build a portfolio worth 360 million so far. BM Lease funds, he said, were directed to the sectors of industry, telecommunications, and real estate development. The company plans double it capital during 2018 to register 200 million Egyptian pounds, he added. More»