ArabianBusiness.com - Middle East Business News
Tuesday, 02 December 2008 09:43 UAE time

YOUR DIRECTORY /

EFG-Hermes

Main Category: Investment Companies
First Address : 58 Tahrir Street
City : Dokki
Country : Egypt
Phone: 20 2 3383626
Fax: 20 2 3383616
Email: corporate@efg-hermes.com
Website: www.efg-hermes.com


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ALL STORIES LIST


Property correction sooner, steeper than anticipated

EFG-Hermes still sees 20% correction in Dubai market, but fall sooner than expected.

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Gulf banks facing tough times - EFG

Triple whammy of slowing growth, weakening property sector and falloff in tourism to hit lenders.

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EFG-Hermes posts steep fall in Q3 profit

Egyptian investment bank results reflect 'challenging market conditions' during period.

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Fears over Dubai debt 'overblown'

EFG-Hermes says external debt currently stands at $60bn, but little to suggest level unsustainable.

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Dubai’s property market: Doom or boom?

Features editor Shikha Mishra takes a look at what effect the credit crisis is having on the property sector in the region.

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EFG-Hermes casts doubt on Nakheel mega-tower

UPDATE 2: Nakheel maintains global downturn to have limited impact.

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Egypt bank offers Saudi access to foreign investors

EFG-Hermes gets go-ahead to offer trade swap arrangements to non-residents.

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High oil prices to shield Gulf from financial turmoil

UPDATE 2: EFG-Hermes also says it does not expect credit crunch to spill over into region.

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Property prices set to slump up to 20%

EFG-Hermes predicts 15-20% drop by 2011 in Dubai market as housing supply outstrips demand.

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Housing shortage driving up prices

Prices in Dubai have risen as much as 10% more than expected due to project delays, EFG-Hermes says.

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EFG-Hermes buys stake in Cameron 'family firm'

Egyptian investment bank takes 10% stake in UK stockbroker with a political link.

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EFG-Bank Audi merger decision within six weeks

EFG-Hermes also announces acquisition of Kuwaiti brokerage stake for $124mn.

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EFG-Hermes enters Kuwait with brokerage stake

Egyptian Investment bank buys 50% stake in Offset Holding for $124.4mn.

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Egypt bank posts 30% rise in Q2 profits

EFG-Hermes, the country's largest investment bank, sees revenues soar by 56%.

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House of cards

Gulf consumers are spending like there's no tomorrow but lending by banks could fuel a regional credit crisis.

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Inflation to hamper Egypt economic growth

Gov't unlikely to hit 7% target for real economic growth in current fiscal year, analysts say.

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New indexes to boost Gulf investment

Launch of three equity indexes by leading benchmark providers will attract foreign capital - analysts.

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Tenants face 45% jump in rents

Abu Dhabi rental prices to rise up to 25% this year and up to a further 20% in 2009, EFG-Hermes says.

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MENA banks hit 20% growth rate

MENA banks balance sheets expanding at annual rate of 20% or more, says EFG-Hermes.

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EFG-Hermes profit jumps 39%

Egypt's largest listed investment bank posts Q1 earnings of $65mn, in line with analysts' expectations.

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Emaar margins up as Burj sales kick in

Apartment sales steady, but construction costs fall as $20bn Burj Dubai project nears completion.

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Egypt inflation hits 3-year high

Urban inflation touches 16.4% in April, up from 14.4% the previous month on higher food prices.

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Gulf states toe Fed's line, cut rates

Despite soaring inflation, central banks across the region lower rates to ward off FX speculation.

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Increased lending boosts Dubai Islamic profit

Bank sees Q1 profit rises 31% to $151.4mn, helped by lending to UAE's realty sector.

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On the waterfront

It's never too late to start investing in Dubai bricks and mortar, says United Holdings CEO Abbas Kiani.

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EFG-Hermes buys Omani brokerage

Egyptian largest investment bank takes 51% stake in Vision Securities as part of Arab expansion.

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Gulf wakes up to China

Among the ‘BRIC' nations, the world's attention is mostly focused upon China.

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Trading dries up as Gulf markets continue fall

Investors await first quarter results and remain on edge over global slowdown.

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Paying the price

As Gulf policymakers find ways to curb rampant inflation, economists are warning against price controls.

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EFG in merger talks with Lebanese lender

Bank Audi says talks in early stages, but merger to create significant commercial and financial synergies.

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UAE house prices will continue to rise

Demand coupled with supply shortage making it easy for developers to pass on costs, EFG-Hermes says.

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The brokerage business

Brokerage houses have never been bigger business, but how long is the boom set to last?

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Expected US rate cut renews calls for Gulf to depeg

Further moves by Fed highlight shortcomings of link to tumbling US dollar, analysts say.

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Fearful buyers shelve 2008 property plans

Gulf residents will continue to rent as 2008 price drop predicted, survey shows.

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Sought-after properties to remain out of reach

Property index will keep rents in prestigious communities at high levels, analyst says.

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Caps off to rent watchdog in inflation battle

Dubai is slowly recognizing the problem of rising rents and its contribution to inflation.

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EFG to buy $32mn stake in maise producer

Investment bank's fund wants to buy 32% of National Company for Maize Products.

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Rent cap unlikely to dent inflation

New cap of 5% will have limited impact on curbing inflation in Dubai, investment bank EFG-Hermes says.

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The economists on 2008

To gain insight into the state of the Gulf economy in 2008 who better to turn to than the region's leading economists. David Westley asked HSBC's Simon Williams, Standard Chartered's Mary Nicola, EFG Hermes' Monica Malik and Moody's' Tristan Cooper to give us their views on what 2008 holds in store for businesses across the region.

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Property prices to peak in 2008

Property prices are set to continue to rise next year as projects are delayed, EFG-Hermes says.

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Pegged off

Speculation is rife that a move towards the unpegging of the dirham from the dollar is imminent and research indicates that such a move would be welcomed. Diana Milne explains the impact of the dollar peg and explores the likelihood of it being removed.

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Saudi market index recalculation could force sell-off

Sell-off in blue chips to provide a rare entry opportunity for investors, EFG says.

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Fed cuts rates, pressure on dirham mounts

UAE will likely change its monetary policy early next year, EFG-Hermes predicts.

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The return of the go-go market

"Should investors buckle up for another wild ride?"

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Looking long term

Hashem Montasser, the regional head of asset management at EFG-Hermes, takes ABF through the investment bank's MEDA Fund, which focuses on MENA equities.

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The year saturation came to town

Next year could see Dubai's real estate market entering a new ‘cooling down' period.

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Dubai rents set to soar 26.5%

Tenants have two more years of rocketing rents to live with before market begins to subside, report says.

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The collapse of the single currency?

The latest meeting between GCC central bankers could spell the end for Gulf's 2010 single currency plans.

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Who would be a bachelor boy?

Uncertainty over UAE property laws has real estate agents calling for clarification.

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Banking on piety

Arabian Business examines the growth of Islamic finance and attempts to untangle its complexities.

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Morgan Stanley lures senior EFG staff to Middle East research team

Morgan Stanley has poached a trio of senior EFG-Hermes staff for its new research team in Dubai.

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EFG doubles income

Egypt's largest investment bank saw second quarter profit rise on the back of services in its home country.

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EFG eyes Saudi investments

Egyptian investment bank ups allocation to the kingdom, betting record oil prices will spur profits and shares.

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Breaking the brokers

New requirements for securities brokerage firms are triggering mergers, closures and questionable trading methods.

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The rise of disposable income

Saudi Arabia and the UAE are the global leaders in senior executive remuneration. But are rising pay packets the only way to attract senior management?

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Saudi broadband use to grow 16-fold

With three new fixed line operators expected next year broadband could roll out dramatically by 2010, report says.

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Can you afford it?

With the cost of living increasing all the time, how high a price are people paying to live in Dubai?

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Total reward challenge

Declan Ball, head of corporate human resources at EFG-Hermes examines the issues of recruitment and retention of talent in the financial services industry.

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Arif Naqvi: An acquired taste

Andrew White meets Arif Naqvi - CEO, Vice Chairman of Abraaj Capital, and undoubted optimist-in-chief.

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EFG-Hermes to set up Qatar branch

The Middle East investment bank has entered into a joint venture at Qatar Financial Centre.

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Abu Dhabi takes EFG-Hermes stake

The Abu Dhabi Investment Authority has announced its purchase of 8% of Egypt's largest investment bank.

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DIG plans $1bn investment bank

WEF special: Dubai Investment Group is set to become the region's 'largest financial conglomerate'.

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Emaar delays news of land deal

Statement about the shares-for-land deal with Dubai Holding is postponed for as long as two months.

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Union Properties' profit beats forecasts

The UAE's third-largest developer has posted a 24.7% rise in first-quarter net profit.

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Saudi's IPO changes could cut bank profit

Proposed book-building system - which may be adopted across the GCC - would cut bank profits.

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Gulf market report - 11 April 2007

Rises continue on the UAE markets as optimism spreads; Oman closes lower.

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Investors head back to DFM

UAE stock markets are witnessing increased levels of interest from institutional investors, says EFG-Hermes.

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Uncertainty drags down Emaar shares

Details of Dubai Holdings' deal to acquire Emaar Properties stock in return for land are still not released.

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Emaar to hold 55% more land in Dubai

Dubai Holding deal could boost Emaar's UAE land bank to $12.9bn, say analysts.

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An artful investment

ME companies have yet to make their mark on the region's burgeoning art scene.

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EFG delivers "exceptional" results

Egypt's investment bank has reported a near 50% increase in total revenues on 2005.

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UAE's second operator pushes for February launch

Du customers will be able to order their SIM cards from February 11, according to du CEO Osman Sultan

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UAE property prices to plunge by 25%

The country's real estate boom will be hit by a significant correction in 2008, say analysts.

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UAE banks likely to prosper in 2007, report predicts

An analysis report released by investment bank EFGHermes on the UAE’s banks predicts that the industry will likely produce strong growth in earnings and revenue during 2007.

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OBS to upgrade EFG call centres

Orange Business Services (OBS) has embarked on the second phase of its US$1.6 million contract with EFG-Hermes.

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OBS to upgrade ME call centres for EFG-Hermes

Orange Business Services (OBS) has embarked on the second phase of its US$1.6million contract with EFG-Hermes.

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Egypt remains foreign investment hotspot

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Orange Business Services

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Pre-selling dreams

Developers find finance by pre-construction sales. Is this the best way forward? asks Rashid Galadari.

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For a few dollars less

Will the GCC single currency peg itself to the struggling US dollar? Alexandra Dubsky examines the pros and cons.

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Answering the call

Leading brokerage EFG-Hermes has implemented an intelligent IP telephony solution to make life easier for clients and staff alike. Daniel Stanton finds out more.

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Abraaj snaps up EFG stak

Abraaj acquires 97 million shares for US $505m

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Maktoob improves its free e-mail service

Auto Scan feature will check incoming and outgoing e-mail for viruses and alert original sender of problems.

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READER COMMENTS

  1. UAE blocks low-paid workers from driving - report 14
    01 Dec ' 08 at 18:53
    Are the authorities considering Nurses as menial workers? No wonder then that large numbers of Graduate Nursing professionals are...  More »
  2. $95bn Satwa redevelopment delayed 3
    01 Dec ' 08 at 21:09
    You suggest Jumeira Gardens will stretch 150kms south of Shk Zayed Road. That would take you well into Abu Dhabi.I don't think even...  More »
  3. Property correction sooner, steeper than anticipated 3
    01 Dec ' 08 at 17:00
    I saw when people went from poor to rich in this country in a matter of weeks, i saw the rich getting poor agian in a matter of...  More »
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