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 - 2017-11-28 07:32:12
International Monetary Fund (IMF) mission chief for Egypt Subir Lall said on Sunday that Egyptians will start feeling the effects of the country’s economic reform programme in 2018. “Inflation will continue to decline, and in terms of living standards, that will be felt much more clearly, especially in 2018, it will be transformational in this regard,” Lall said in an interview with the privately-owned CBC satellite channel. He pointed out that finances in the government’s budget are improving, which is functioning properly, thanks to the structural reforms that are being implemented, saying, “next year will be better than the past for the Egyptians.” “At the level of monetary policy, we have seen inflation levels fall during the past three months after reaching a peak last July,” Lall also stated. He stressed that annual inflation will decline significantly in November and December due to the impact of the base year after the floating of the pound, pointing out that he expects inflation to decline further in 2018. He went on to say that once the Executive Board of the IMF approves the current review of Egypt’s implementation of the reform programme, the third installment of a $12 billion loan package would be paid to Egypt. He noted that the date of the Executive Board meeting had not yet been set but is expected to be held by the end of December. Earlier this month, the IMF and Egyptian authorities reached a staff-level agreement on the second review of Egypt’s economic reform program. When the review is completed and approved the IMF will make available a US $2 billion installment, bringing total disbursements under the program to about US$6 billion. The IMF has said that the staff-level agreement on the second review reaffirms the authorities’ commitment to their reform program supported by the IMF. The international lender said that Egypt’s economy continues to perform strongly, and reforms that have already been implemented are beginning to pay off in terms of macroeconomic stabilization and the return of international confidence. More»
Amwal Al Ghad English - 2017-11-27 13:53:38
SHUAA Capital, the United Arab Emirates-based integrated financial services firm, announced that its securities brokerage arm ‘SHUAA Securities’ has officially commenced operations in the Egyptian market, following green light by the Egyptian Financial Supervisory Authority (EFSA). With an initial and dedicated 40 person strong task-force, SHUAA Securities Egypt has been successfully executing its first transactions since being granted approval on 11 November 2017. More»
Amwal Al Ghad English - 2017-11-26 14:51:15
Egypt's Misr Insurance Company has signed an agreement with Nasser Social Bank and the Egyptian Natural Gas Holding Company to secure interest-free loans granted to deliver natural gas to the poorest families. The insurance policy is with total value of 50 million Egyptian pounds, according to Chairman of Misr Insurance Company Adel Moussa. More»
Amwal Al Ghad English - 2017-11-23 06:51:09
Egypt is set to receive its next International Monetary Fund loan disbursal in December, Finance Minister Amr El Garhy said on Wednesday, a $2 billion payment that is part of a three-year $12 billion loan agreement. The payment will bring total disbursements under the programme to about $6 billion. Egypt last year agreed to ambitious economic reforms as part of the loan deal. More»
Amwal Al Ghad English - 2017-11-22 15:09:54
Egypt has signed Wednesday a technical cooperation agreement in the urban transportation sector through FEXTE partnership grant worth €500,000 ($588,735) with the French Development Agency (AFD). The agreement aims to improve the ticket-issuance system and support the commercial benefit from Metro stations and trams as well as railways in Cairo and Alexandria, besides supporting the operation and maintenance management to decrease operational costs, Egyptian Investment Minister Sahar Nasr said. It is also designated to improve the physical integration between various means of transportation and enhancing capacities of the Greater Cairo Transport Regulatory Authority and the public transportation system in Cairo and Alexandria. Nasr said an action plan would be developed to improve the design of Cairo metro and Al-Raml Tram in Alexandria, review and support the professional design of two main metro stations on the third metro line, design and implement a training programme. to improve the efficiency of the staff working in the maintenance of Cairo metro, and support the professional performance of the Greater Cairo Transport Regulatory Authority and develop its human resources. Connecting between cities would contribute to enhancing investments in Egypt and decrease the time period of transportation, Nasr explained. Transportation has a priority in negotiations with international financial institutions, she added. The agreement was signed by Nasr, AFD’s Cairo Office Director Stephanie Lafranchi, and CODATU’s Executive Manager Jean-Jacques Helluin. More»
Islam Abdelhameed - 2017-11-20 11:13:16
Egypt’s Arab Misr Insurance Group (GIG) has started talks with Germany’s Hannover Re to reach a further one-year renewal of their reinsurance agreement. GIG’s financial year for last year will back the renewal of the agreement without placing any additional conditions, managing director Alaa El Zoheiry told Amwal Al Ghad on Sunday. The Egyptian company has recently received a positive rating from both A.M. Best, which will in return support the renewal of reinsurance agreements with foreign partners, El Zoheiry added. 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»
Mohamed Hamdy - 2017-11-19 11:27:12
Egypt’s Al Tawfeek Leasing (A.T. LEASE) is teaming up with two other local leasing companies to secure joint financing worth 600 million Egyptian pounds ($34 million). The financing will go for two local property developers, A.T. LEASE’s chairman Tarek Fahmy told Amwal Al Ghad on Sunday, without disclosing any names. More»
Amwal Al Ghad English - 2017-11-16 08:32:43
Thomas Peterffy, the billionaire founder and chairman of Interactive Brokers, has never been a huge fan of bitcoin. But his bearishness reached new highs this week, when he took out a full page ad in The Wall Street Journal, warning Commodity Futures Trading Commision Chairman J. Christopher Giancarlo of the dangers of bitcoin. Despite the dramatic gesture, Peterffy, who some call "the father of high speed trading," insists he doesn't actually oppose trading the cryptocurrency. He just thinks it needs to stay far away from the "real economy." "I think bitcoin and other cryptocurrencies are great ideas. They should be allowed to be traded freely and used freely to find their appropriate role in the economy," Peterffy said Wednesday on CNBC's "Fast Money." "What I am objecting to is linking bitcoin and other cryptocurrencies by federal regulations to the real economy, which would happen if we were to clear bitcoin along with other products in the same trading house," he said Peterffy is reacting to news from CME Group CEO Terry Duffy, who earlier this month announced bitcoin futures would debut on the CME by the end of the year. Peterffy called this move "suicidal." "Bitcoin has risen by 1,000 percent over the last year. It went from 700 to 7,000 -- there is nothing to say it wouldn't go to 70,0000," Peterffy said. He argued that even 20 percent limit up or down on bitcoin, as Duffy has suggested, wouldn't protect against bitcoin's volatility. "It could bring down the entire economy," he said. More»
Amwal Al Ghad English - 2017-11-16 07:42:19
Egypt’s Minister of Finance Amr El-Garhy said on Tuesday that the country’s internal and external debt totalled 3.7 trillion Egyptian pounds in 2017. In an interview with TV programme “Akher al-Nahar,” Garhy noted that the Egyptian pound’s exchange rate is linked to exports and improving the Egyptian economy’s performance. Garhy stressed that fixing the Egyptian pound against foreign currencies may have a negative effect on the volume of Egypt’s foreign reserves. Egypt embarked on a large-scale IMF-sponsored economic reform programme last year. A key demand by the international lender was that the country would devalue its currency, which it did in November last year, resulting in the pound losing half of its value, leading to soaring inflation. More»
Amwal Al Ghad English - 2017-11-15 09:21:54
The prolonged period of low central bank interest rates and growing debt in developed economies is posing the greatest risk to financial markets in the medium-term, according to an International Monetary Fund (IMF) executive. David Lipton, the IMF's first deputy managing director, told CNBC why the enduring trend of quantitative easing, implemented after the 2008 financial crisis to increase liquidity and encourage borrowing, now presents potentially harmful downsides. "In financial markets, there are risks that come from having low interest rates for a very long time," he said. "That's affecting risk-taking behavior, it's affecting the market risk that capital markets participants have." He also pointed to ever-mounting debt in both developed and emerging economies. "We are seeing some greater leverage in the corporate world, in some countries for households, so that rising indebtedness and that increase in market risk really is something that policymakers should keep an eye on." According to the Bank for International Settlements, global corporate and household debt reached 138 percent as a share of gross domestic product (GDP) in 2016, compared to 115 percent in 2007, before the start of the economic downturn. The 2016 figure for advanced economies alone was 195 percent. "We think monetary policy has to continue to be supportive, and it's important to find other ways through macro-prudential policies to make sure that the financial market risks are kept under control," Lipton said. "But it's also important to put in place policies that will support growth in the long run, because a stronger growth impulse over the long term is going to help modulate financial sector risk as well." The IMF's current macroeconomic picture, meanwhile, is one of global recovery, in a process Lipton described as "lifting all boats together" and driven by policy support and recovery in commodity prices. "Our view is that in the longer term there's a need to boost growth because trend growth has been somewhat more sluggish. So despite the improved recovery, our message is that countries should take advantage of the opportunity of being in recovery to try and prepare for stronger growth ahead." More»