amwalalghad :: Blogging

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        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        

Citizen Journalism - Blogging

Patrick Werr - 2017-02-05 13:04:12
Let us not overlook the fertilizers industry as Egypt struggles to reform its tangled web of subsidies. The government has been providing local urea fertilizer producers with cheap natural gas, their main input, for years. In return, the producers are required to sell a certain percentage of the fertilizer they produce to the state-owned Principal Bank for Development and Agricultural Credit at an artificially low price. The bank then sells the fertilizer on to farmers at only a tiny mark-up. More»
Mohamed Samir - 2017-01-22 08:11:28
After several years marked by turbulence and uncertainty, Egypt’s economy encountered numerous challenges, from political unrest and declining tourism, to foreign currency and fuel shortages, which led the government to adopt an economic reform programme to improve Egypt’s public finances. Between September and November 2016, authorities introduced the value-added tax law (VAT), a free-floating currency, raised the price of subsidised fuel, and went on a borrowing spree from the International Monetary Fund (IMF), the World Bank, China, and others to finance its ambitious programme. More»
Nayrouz Talaat - 2017-01-14 08:25:11
Egypt has finally come out with the much-anticipated new investment law, raising debate among economists about whether the amendments introduced to the law would lure more foreign direct investment (FDI) to the country. The new draft law, released by the Ministry of Investment at the end of December 2016, included a number of incentives that decision-makers hope will help draw in more investments and create an attractive business climate. According to the Ministry of Investment data, foreign direct investments grew by 49.3% to $6.9 billion in 2015, up from $4.6 billion a year earlier. Since its issuance late last year, the law has been bogged down in discussions between economists and investors who believe that the new law has brought long-awaited amendments to many of its articles. According to Article 15 of the new investment law, the Egyptian government will totally ensure fair agreements to foreign investors on an equal footing with local investors. More»
Nigel Youell, EPM specialist at Oracle - 2016-12-28 15:23:26
Finance leaders are increasingly asked to help their company stay on course, not just from a budgetary perspective but from a strategic one as well. At a time when businesses are being tested by momentous geopolitical events, roller-coaster currency exchange rates, and volatile commodity prices, this is no small task. Add to this a higher level of scrutiny from internal and external stakeholders, whose confidence has been shaken by the rising tide of uncertainty, and it becomes clear why CFOs are expected to deliver more accurate information more quickly. Which brings us to why businesses are turning to automation to make finance processes faster and more efficient.  Automated processes allow CFOs and their teams deliver more frequent, accurate reports, complete a financial close more quickly, and crucially dive into company data to instantly deliver strategic insights to other business leaders. A new report from CIMA (Chartered Institute of Management Accountants) reveals that 83% of its members support more automation in finance when it saves time and money, or helps combat indecision. And while there is worry among some finance workers that automation poses a threat to their careers, the opposite is true. If anything, it simply frees them up to focus on more value-adding activity and contribute to future strategies. Two-thirds (62 percent) of respondents to the CIMA survey see automation as a route to greater efficiency. There are many reasons automation is becoming one of the CFO’s greatest allies, but a few points in particular stand out: 1) Bring order to chaos Many companies admit they still conduct their reporting using manual data entry and spreadsheets, which results in very long processes that can be held up at many points along the chain. Some of the organizations Oracle works with admit it used to take them upwards of 20 days to complete their financial close in the before they automated their reporting approach. With automated processes in the cloud, rather than a loosely organized regime of emails and a frustratingly unclear audit trail, any entry or amend made to a report is automatically reflected across every other document it impacts. This means everyone is working with the same, up-to-date information. All this adds up to a faster process and a clearer audit trail, which in turn allows businesses to share reports as and when stakeholders need an update, not just on a quarterly basis. CFOs need to make decisions quickly and be certain they are based on sound information. Making sure the right data is in the right hands at the right time, and that it is accurate is absolutely crucial for the modern CFO. Manual processes simply aren’t up the task. 2) Gain speed without sacrificing quality With a more unified and accurate reporting process also comes greater accuracy. Manual processes typically involve many players working with many versions of many spreadsheets, and therefore open the door to many potential errors. In the case of accounts reconciliation, each pass can involve thousands of reconciliations and involve hundreds of employees.  A team under pressure to complete their close is already more likely to make an error, and tracking any mistake in this web of processes can be a significant time drain. When everyone works from a single, up-to-date source of information the chance of errors is greatly reduced, which means companies can complete their financial close more quickly and with greater confidence. Amazon shortened its financial close process from five days to one by automating its processes, and today 80% of its reconciliations in fixed assets close automatically with no manual intervention. 3) Work more securely with the cloud Automated processes in the cloud also improve data security as sensitive information is no longer being passed around unguarded during a reporting workflow. All data is stored and updated centrally, and finance leaders can control access so that each contributor can only manipulate entries that are relevant to them. Understandably, organizations have traditionally been wary of entrusting financial information to a third party provider, but those who avoid the cloud on this basis are being lulled into a false sense of security.  No matter how good an organisation’s IT team or how advanced its technology infrastructure, it’s unlikely to better that of a cloud company whose experts are constantly optimizing the security and availability of its applications. Don’t forget skills It’s encouraging to see financial professionals view automation as an opportunity rather than a threat. But while automated processes are helping CFOs and their teams work smarter and deliver on stakeholder expectations, the technology alone is simply an enabler. The blurring of lines between man and machine isn’t about robots taking over. It’s about being able to integrate a growing treasure trove of data into the company’s day-to-day operations to enhance the way we do business. Strategic decisions are ultimately made by human beings and the task of understanding, interpreting and acting on finance data requires a keen mind, albeit one with a wider understanding of the business. This is another way in which the role of the finance professional is changing. It takes a much wider set of expertise to make sure new technologies are being used in ways that make people more productive and add value in the boardroom. The best finance leaders are aligned with their organization’s direction of travel and see where the processes they manage can contribute. This requires a deep understanding of data and the ability to galvanize their teams. It requires a willingness and ability to work with other lines of business to ensure every part of the company is moving in unison. The ability to quickly and convincingly make strategic businesses cases in the boardroom is also crucial. Today’s automation applications allow users to create customized dashboards so they can share relevant financial results with internal stakeholders, and it falls to finance leaders to add context to this data. Just as the finance function made the transition from hand written ledgers and manual calculations to Excel spreadsheets, the time has come for another major leap. So many of the ways we communicate and interact at work are automated and we’ve grown used to instantly finding the information we need at the click of a button. It’s only natural for this evolution to carry over into the finance department. CIMA’s findings point to an enthusiasm for change, and it’s now up to businesses to deliver.About the Writer: Nigel Youell is an EPM specialist at Oracle. More»
Sean Coughlan - 2016-12-22 14:40:13
Too much Facebook browsing at Christmas - and seeing all those "perfect" families and holiday photos - is more likely to make you miserable than festive, research suggests. A University of Copenhagen study suggests excessive use of social media can create feelings of envy. It particularly warns about the negative impact of "lurking" on social media without connecting with anyone. The study suggests taking a break from using social media. The study of more than 1,000 participants, mostly women, says that "regular use of social networking such as Facebook can negatively affect your emotional well-being and satisfaction with life". More»
Patrick Werr - 2016-12-22 09:31:28
While most eyes last month were on the flotation of the currency and an increase in the prices of fuel, Egypt made another significant reform that did not get nearly as much attention. Under a new law published in the official gazette on November 16, control of Egypt’s state-owned agricultural lender, the Principal Bank for Development and Agricultural Credit (PBDAC), was transferred from the ministry of agriculture to the central bank, and the lender was given a new name, the Egyptian Agricultural Bank. The bank, with more than 1,200 branches, has Egypt’s biggest network by far and provides financial services to a sizeable section of the population that otherwise would have to do without. But it is a sadly dysfunctional holdover from Egypt’s socialist past that can only benefit from the change. More»
Rory Cellan-Jones - 2016-12-03 09:08:04
Nokia-branded mobile phones are on sale, once again, and being marketed on the Finnish company's website. For now, the range is limited to some pretty basic models, but that should change when Android-powered smartphones and tablets are added soon. It's thanks to a deal with a small team based at a business park on the fringes of Helsinki, who are engaged in what will seem to many a foolhardy mission. They call themselves HMD Global - and they believe they can make Nokia a big name in mobile phones once again. I met Arto Nummela, Pekka Rantala and Florian Seiche in a cafe on what is still the Nokia campus. More»
Dave Lee - 2016-11-20 08:51:46
I’ve long suspected that Mark Zuckerberg, who often refers to himself as the “leader” of Facebook, has dreams of high office. This week, a taster of what that might be like has been knocking at his door in the wake of the US election result. While Donald Trump’s visit to the White House was an apparently sobering experience about the level of responsibility he’d soon inherit, Zuckerberg has had a brutal political awakening of his own. Facebook’s “fake news” crisis has had the normally stoic 32-year-old visibly irritated, and that’s because for the first time he is being treated like a politician, rather than just a tech CEO. With that comes distrust and anger, not to mention disloyalty in the Facebook ranks and what for him must be the growing realisation that it’s impossible to please everyone. More»
Mohamed Samir - 2016-11-13 08:11:20
Egypt successfully secured the International Monetary Fund’s (IMF) approval for the three-year, $12bn loan agreement on Friday. The first instalment of $2.75m has already been received following the IMF executive board’s approval. The loan payment will be over a 10-year period with an interest rate of 1-1.5%. Egypt’s economy has been suffering post-2011 revolution; political instability in addition to regional security concerns have had a negative effect, especially on the tourism sector. These factors intensified Egypt’s already existing structural problems, which can be summarised into three main issues. First, the fixed exchange rates. The Central Bank of Egypt (CBE) policy of controlling the Egyptian pound exchange rate against the US dollar had a very negative impact on the economy, leading to lower external competitiveness, depletion of foreign reserves, and foreign exchange crisis, which in turn has affected investments, and led to food shortages. Second, the sky high budget deficit and public debts as a result of various factors, such as weak revenues, large subsidy bills that are mismanaged and not reaching eligible recipients, combined with a huge public sector wages bill. The current level of deficit and public debt is almost 100% of Egypt’s total GDP. More»
Lucy Ash - 2016-11-10 14:31:41
While the UK and much of the world struggles with overcrowded prisons, the Netherlands has the opposite problem. It is actually short of people to lock up. In the past few years 19 prisons have closed down and more are slated for closure next year. How has this happened - and why do some people think it's a problem? The smell of fried onions wafts up the metal staircase, past the cell doors and along the wing. Down in the kitchen inmates are preparing their evening meal. One man, gripping a long serrated blade, is expertly chopping vegetables. "I've had six years to practice so I am getting better!" he says. It is noisy work because the knife is on a long steel chain attached to the worktop. More»