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 - 2017-12-11 07:29:50
In a widely reported announcement, the founders of Bitcoin Egypt said in August that their project would be launched later in the month, suggesting that the North African country might now be leaning toward a friendly approach to the world's leading cryptocurrency. However, the excitement over what was meant to be the first platform for buying and selling Bitcoin in Egypt soon subsided, with the Central Bank of Egypt (CBE) refuting such speculation and reiterating that it will not regulate digital currency dealings. "This virtual currency is not guaranteed by the banking sector […] and dealing with it is the responsibility of its users," the statement said. A message on the Bitcoin Egypt website later read, "We are facing delays and no longer confirm a launch date." One of the founders, Omar Abdel-Rasoul, declined to speak about where his project stands "until the situation is legally resolved." Soon after, in November, the website went offline. The absence of legitimate avenues, however, has not prevented Bitcoin trading in Egypt in recent years. Indeed, in 2017, interest in digital currencies dramatically increased in the most populous Arab nation, according to one Cairo-based Bitcoin trader and broker who started his cryptocurrency dealings in 2011, two years after it was invented. There is no technical way to estimate the volume of Bitcoin trading in Egypt, or any other country, for that matter, "but for a year now there has definitely been a surge in Egypt," said the 30-year-old Egyptian, who, bearing in mind the unclear official stance on digital currencies, preferred to speak on condition of anonymity. More»
Amwal Al Ghad English - 2017-12-10 09:09:22
The newest way to bet on bitcoin, the cyptocurrency that has taken Wall Street by storm with its stratospheric price rise and wild daily gyrations, will arrive on Sunday when bitcoin futures start trading.The first bitcoin future <0#XBT:> trades are set to kick off at 6 p.m. EST (2300 GMT) on Cboe Global Markets Inc Cboe Futures Exchange. The launch has given an extra kick to the cyptocurrency’s scorching run this year. It has nearly doubled in price since the start of December, but recent days saw sharp moves in both directions, with bitcoin losing almost a fifth of its value on Friday after surging more than 40 percent in the previous 48 hours. But while some market participants are excited about a regulated way to bet on or hedge against moves in bitcoin, others caution that risks remain for investors and possibly even the clearing organizations underpinning the trades. More»
Mohamed Hamdy - 2017-12-07 14:07:57
Egyptian Financial Supervisory Authority (EFSA) revealed Thursday leasing companies have signed contracts worth 22 billion Egyptian pounds ($1.2 billion) during the first ten months of 2017, around 31 percent up from last year. Leasing contracts dropped to 1,496 pounds at the end of 2017, compared with1,964 pounds during the same period last year. Moreover, the county’s real estate sector attained 70.8 percent of leasing activity contracts worth 15.547 billion pounds, while heavy trucks sector obtained 6.6 percent and heavy equipment sector got 6.5 percent. More»
Amwal Al Ghad English - 2017-12-07 09:20:25
Egypt's budget deficit decreased by two percent of GDP during the first quarter of financial year 2017/2018, the county's Finance Ministry’s monthly bulletin stated on Wednesday. The deficit during the last three months registered 85.3 billion Egyptian pounds; it amounted to 76.8 billion pounds during the corresponding period of 2016. The state deficit budget was announced to have decreased by 1.7 percent of GDP during the period from July to August of financial year 2017/2018. Earlier, Finance Minister Amr El-Garhy stated that the government aims to reduce the budget deficit by between 1 and 1.5 percent with a long-term decrease of between four and five percent by 2022. Egypt is implementing sweeping reforms that include cutting subsidies and raising taxes that the government hopes will lure back foreign investors. In November 2016, Egypt signed a $12 billion three-year International Monetary Fund (IMF) loan agreement. The government has so far received an initial $4 billion tranche of its IMF loan. The Finance Minister said the country will receive the $2 billion second disbursement in December. More»
Gehad Abdel Ghany, Islam Salah - 2017-12-06 11:50:00
Spain- based Mediterrania Capital Partners, the private equity firm focused on growth investments seeks to invest Mediterrania Capital III LP fund in eight to 12 investments, Albert Alsina, Founder and CEO said. In addition, the company has announced the first closing of its third capital growth fund, Mediterrania Capital III LP, at €103 million. Mediterrania Capital III (MC III) provides growth capital to generalist small- and medium-cap companies based in North African and Sub-Sahara African countries including Morocco, Algeria, Tunisia, Egypt, Senegal, Côte d'Ivoire and Cameroon. More»
Amwal Al Ghad English - 2017-12-06 09:12:05
Bitcoin extended its eye-popping rally, breaking above $12,000 to a record high despite questions about the cryptocurrency’s real value and worries about a dangerous bubble.Bitcoin received a boost after Friday’s announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts. More»
Amwal Al Ghad English - 2017-12-04 11:27:53
Egypt is expected to receive the second tranche of $2 billion, its  third dispersal,  of the three-year International Monetary Fund (IMF) loan during the third week of December, said Minister of Finance Amr el Garhy. However, the payment is still subjected to IMF executive board approval, will bring total disbursements under the program to about $6 billion. IMF executive board is set to review the performance of Egypt’s economic reform progamme before approval. The minister stressed that Cairo is moving steadily in implementing the reform program, pointing out that the Egypt has achieved number of economic achievements during the past four years. More»
Islam Abdel-hamid - 2017-12-03 13:59:43
Egypt's Misr Life Insurance  has initially agreed with Arab African International Bank (AAIB) so that the latter would contribute with 49 percent in the new takaful insurance company capital. Misr Insurance Holding's Chairman Mohamed Youssef said that the company has obtained an  agreement in principle from the bank adding that the final agreement is still under evaluation and  study. More»
Amwal Al Ghad English - 2017-11-30 08:29:15
Bitcoin enthusiasts have a lot of growth to celebrate. Not only is the digital currency surging, but related businesses are booming. Coinbase is the leading U.S. platform for buying and selling bitcoin. For the company's GDAX exchange, average daily trading volume has increased 10 times this year, and 30 times over the last two years, GDAX head Adam White said Tuesday. He expects average daily trading volume to multiply another 10 times over the next 12 months. White was speaking at CoinDesk's Consensus Invest conference in New York City. That very evening, bitcoin crossed the key $10,000 level. CoinDesk said about 1270 people attended its sold-out conference, the one-day version of the company's bigger, annual conference in the spring. Bitcoin's dramatic surge Tuesday gave attendees more reason to celebrate in a big way. Some enthusiasts held a "10K" party on the enclosed roof of the Public hotel in the Lower East Side. The venue had sweeping views of Manhattan. "Some very rich people up there," the elevator man told this reporter. He said one party guest said he had at least several million dollars because he bought bitcoin early on. Whether companies' enthusiasm for digital currencies is overdone remains to be seen. But the hype runs high. Several large cryptocurrency companies also rented out grand venues. More»
Amwal Al Ghad English - 2017-11-30 07:51:00
Egypt will keep its customs exchange rate steady at 16 pounds per dollar for December, the finance ministry said in a statement on Wednesday. “The decision is consistent with the currency price stabilisation in the past period,” the statement said. Egypt began setting a monthly fixed customs exchange rate in January, following the flotation of its pound currency in November 2016. It has since set it each month. The pound has remained roughly at the same level in recent months, trading at around 17.65 to the dollar on Wednesday. More»