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

Amwal Al Ghad English - 2018-01-15 07:42:40
Egypt’s budget deficit fell 4.4 percent in the first half of financial year 2017/18, compared to five percent last year, a statement from the Finance Ministry said Sunday. Egypt has been seeing improved macroeconomic indicators since it floated its local currency in late 2016. In a recent meeting with President Abdel Fatah al-Sisi, Finance Minister Amr el-Garhy said that the primary deficit dropped to 0.3 percent of GDP in the first half of 2017/18, compared to 1.1 percent in the same period a year earlier. He added that state revenues have increased, achieving an annual increase of 38 percent during the same period and that tax revenues have grown by around 61 percent, compared with 12 percent last year. Egypt had embarked on a bold economic reform program that included the introduction of taxes, such as the Value added tax (VAT), and cutting energy subsidies. The country has floated its currency in November 2016, after which it clinched a $12 billion loan from the International Monetary Fund (IMF). Egypt is to receive a fourth disbursal of that loan, worth $2 billion, in June or July, the Finance Ministry said, bringing the total it has received to $8 billion. The IMF agreed in December to the third disbursal, also worth $2 billion. More»
Islam Abdelhameed - 2018-01-11 11:17:26
Egypt’s Arab Misr Insurance Group (GIG) has reached a further one-year renewal for its reinsurance agreement with Germany’s Hannover Re. GIG and Hannover have renewed the agreement with the same conditions and retention rates of last year, managing director Alaa El Zoheiry told Amwal Al Ghad on Thursday. In June, A.M. Best has affirmed GIG’s Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb”, with a stable outlook. A.M. Best cited the company’s track record of excellent operating profitability, solid level of risk-adjusted capitalisation and good business profile in Egypt’s insurance market. Hannover Re SE, with a gross premium of around €14.4 billion, is the third-largest reinsurance company in the world. Its headquarters is in Hannover, Germany. More»
Islam Abdel-hamid - 2018-01-09 12:19:29
Egyptian Life Takaful Company – GIG has received the final approval by the Central Bank of Egypt and the Financial Supervisory Authority to offer insurance services through National Bank of Abu Dhabi branches. The bancassurance agreement will go into effect by the end of January 2017 to promote the company's services through four branches of  National Bank of Abu Dhabi, which are expected to increase to 10 branches with in the current year, the managing director of GIG Ramah Asaad said. For GIG, NBK Egypt will be the fifth bank to enter this partnership with, as it signed agreements earlier with Bank Audi Egypt, Abu Dhabi Islamic Bank, National Bank of Kuwait (NBK), and Banque Misr. More»
Amwal Al Ghad English - 2018-01-09 08:02:12
Egypt's Minister of Finance Amr el-Garhy approved  3.7 billion Egyptian pounds ($209 million) in additional allocations from the state budget to state entities of railway, commodities, media, and journalism. The allocations included 2.55 billion pounds for the General Authority for Supply Commodities (GASC) for the ration cards and bread subsidies’ of December. Another 26.4 million pounds was allocated for purchasing 120,000 tonnes of imported wheat. The Health Insurance Organisation obtained 60.6 million pounds for providing subsidies to students, women breadwinners and infants. This is in addition to 220 million pounds for the National Media Authority to meet its commitments towards its employees, and 200 million pounds for the National Journalism Authority for similar purposes. Around 117 million pounds were directed to the Ministry of Petroleum to complete its project of connecting natural gas to households. Meanwhile, the Holding Company for Water and Wastewater obtained 62.5 million pounds to be distributed to affiliated companies to meet their needs. More»
Gehad Abdelghany, Islam Salah - 2018-01-08 11:37:18
Egypt-based investment bank Acumen Holding is planning to launch an equity fund with a capital of 200 million Egyptian pounds ($11.3 million) during the first half of the current year. Launching the fund comes as part of the company's strategy aimed to support and increase the volume  of the assets under management which reached 1.6 billion pounds by the end of September 2017, chairperson Rana Adawi said.Acumen has lately captured the management of an insurance fund with capital of 20 million pounds in the frame work of the company's strategy to diversify its AUMs. Acumen Holding is an Egyptian investment bank established in 2010 with an authorised capital of 200 million pounds and a paid-in capital of 30 million pounds. The company has three subsidiaries: Acumen Asset Management, Acumen Securities and Brokerage, and Acumen Beltone Real Estate Fund Management. More»
Al Zahraa Mostafa - 2018-01-07 09:51:33
Egyptian Takaful Property and Liability Insurance plans to commit around $500,000 to the capacity subscription of the country’s insurance pool designed to insure anticipated nuclear facilities and projects. EGYTAK has informed the insurance pools for train accidents, building works dangers and civil liability as well as nuclear facilities about its planned 0.5 percent contribution, managing director Ahmed Morsy told Amwal Al Ghad on Sunday. The Egyptian nuclear insurance pool is set to insure Egypt’s under construction first nuclear plant in Dabaa, west of Alexandria. The plant will be built in Dabaa, a site in the north of the country that Egypt has been considering for a nuclear power plant on and off since the 1980s. It is due to be completed in 2022, and the first of its four reactors is expected to begin producing power in 2024. More»
Amwal Al Ghad English - 2018-01-07 07:55:38
Egypt plans to raise economic growth rate by six percent within 2018, according to the vice minister of finance for treasury affairs, Mohamed Maait. Maait noted in his interview with Al Ahram newspaper that the government is also working to attract more foreign investments, around $12 billion. The vice minister also indicated that inflation waves cooled down, expecting inflation rate to go below 20% percent soon. In 2017, unemployment went down from 11.9 percent to 11 percent, supported by the rise in economic growth, which reached 5.2 percent at the end of last year, he added. The rise in oil prices to $65 per barrel has led to a rise in subsidiary costs, as the budget estimated prices near $55 per barrel, however, the government will continue to adopt social policies that limit the effects of the economic reforms, to support low income families, said Maai, explaining that an increase in oil prices by $1 a barrel equals a rise in the budget deficit by 4 billion pounds. More»
Amwal Al Ghad English - 2018-01-04 08:39:56
The Emirates Healthcare Group announced Wednesday it has strategically partnered with Egypt’s Alameda Healthcare Group to expand health care facilities in the North African country. Alameda Healthcare Group, which has the largest healthcare footprint in Egypt that totals 860 beds, including both Dar El Fouad Hospital and As Salam International Hospital, in addition to chain of labs, tabibi 24/7 and GIT stand-alone units while the Emirates Health care Group, is part of the Abu Dhabi-based investment group KBBO. “Our expansion in Egypt comes from our strong belief in the development and prosperity of the Egyptian market, and the progress that Egypt is making in all areas as a nation” Khalifa Bin Butti, Chairman of KBBO Group, said. “We’re excited to establish an extensive presence in the vibrant Egyptian market. It’s an important addition to our global healthcare network, further extending the reach of the highest standard patient care we provide globally to around eight million patients each year.” He added. He also noted the serious need for additional healthcare in Egypt. “The population of Egypt has reached 91 million, yet the number of hospital beds available is less than two beds per 1,000 people. With an annual population growth of 2.2 per cent, Egypt desperately needs more hospital beds and improved quality of healthcare services, which this partnership will help provide.” Dr Fahad Khater who will manage and head the group in Egypt as chairman from Alameda Healthcare said: “We’re continually looking for ways to improve our facilities and the care we provide to patients, whether it’s through our new and recently-upgraded hospitals and medical complexes, or via international partnerships with healthcare specialists like Emirates Healthcare Group.” The partnership adds to Emirates Healthcare Group’s vast portfolio of health care services that includes hospitals and clinics located across the UAE and internationally, such NMC healthcare, Emirates Hospitals and CosmeSurge. More»
Amwal Al Ghad English - 2018-01-03 09:35:39
The world is moving toward crisis and a state of "geopolitical depression" as the U.S. presidency of Donald Trump accelerates divisions among citizens and the unraveling of the global order, the risk consultancy Eurasia Group warns. Liberal democracies are suffering from a deficit of legitimacy not seen since World War II, and today's leaders have largely abandoned civil society and common values, Eurasia Group says in its annual assessment of top geopolitical risks. The breakdown in norms opens the door to a major event that could rock the global economy and markets. "In the 20 years since we started Eurasia Group, the global environment has had its ups and downs. But if we had to pick one year for a big unexpected crisis — the geopolitical equivalent of the 2008 financial meltdown — it feels like 2018," said Eurasia Group President Ian Bremmer and Chairman Cliff Kupchan. U.S. global power is "sputtering to a stall" as the Trump philosophy of retrenchment and unilateralism sows confusion among both allies and rivals, Eurasia Group says. The world now lacks leadership to steer it through the impending crisis. "'America First' and the policies that flow from it have eroded the U.S.-led order and its guardrails, while no other country or set of countries stands ready or interested in rebuilding it … significantly increasing global risk." Here are Eurasia Group's top risks in 2018: More»
Amwal Al Ghad English - 2018-01-03 08:54:07
A conflict on the Korean Peninsula could disrupt global businesses, making it "the greatest geopolitical threat to credit quality in Asia," according to Moody's Investors Service. Such a scenario remains a "low-probability event," Moody's stated in a new report Wednesday following fresh bellicose rhetoric from North Korean leader Kim Jong Un and President Donald Trump. But should current tensions evolve to full-blown military action, the consequences could be immense. The loss of human life is seen as the greatest repercussion from any major clash involving Washington, Seoul and Pyongyang, but the global economy will suffer as well, Moody's said. The report did not discuss the worst-case scenario of the use of nuclear weapons, instead concentrating on credit quality for countries and industries at risk. More»