Research Into The Egyptian Stock Exchange Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2022 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The stock exchange of Egypt is situated in Cairo, Egypt. The Egyptian Stock Exchange (EGX) is one of the oldest stock markets established in Middle East, who traced its origin from the merger of two stock exchanges in Egypt namely, Alexandria Stock Exchange which was established in 1883 and Cairo Stock Exchange established in 1903, now known as Egyptian Stock Exchange which was formerly known as Cairo and Alexandria Stock Exchange (CASE). Both exchanges were very active in 1940s, and both the exchanges combined were ranked fifth in the world. The vision of Egyptian Stock Exchange is To be a World-Class, Egypt-based exchange: which would serve best to its stakeholders in the Middle East and North Africa region. (The Egyptian Exchange, 2010). As every stock exchange has certain values and duties, the EGX also has system of values which have a common denomination of ethics practiced with every individual whether it is customer, members, issuers, local investment comm unities, employees and regulators. The Chairman, Mr. Maged Shawky is the head of the Egyptian Stock Exchange. (The Egyptian Exchange, 2010). The exchange has trading session from 10:30am to 2:30 pm on all days except Fridays and Saturdays and holidays declared in advance by the Exchange. Measure of Activity The main performance indicator or measure of activity of Egyptian Stock Exchange (EGX) is EGX30, which was previously known as CASE30 index. It includes the top 30 companies in terms of liquidity or 30 most active companies in the Egyptian Stock Exchange. The CASE 30 was started with base value of 1000 points on January 2, 1998 and was renamed to EGX 30 on March 1st, 2009. Any company to get listed or to get included in EGX30 must have a 15% free float. (The Egyptian Exchange, 2010). Trends in Egyptian Stock Exchange C:Users$uYoGDesktopcma.ca.pngSource: Yahoo Finance, 2010 Egypt has a long and rich history of financial market. In late 1980s, Egypt had a sophisticat ed financial structure holding a mature stock exchange in both Alexandria and Cairo. (Wilson, 1995). The Egyptian Stock market has experienced several fundamental changes during major periods such as from 1888-1958, 1959-1971, 1972-1992, and 1992-present. Egyptian stock market was very mature and remarkable at earlier phases of its operation; in 1940s both the exchanges were very active. In 1959-1971 phases the stock exchange left its effective operations due to the intervention of government policies and restrictions. (MohieEldin, Sourial, 2000). After high intervention of government, there were several attempts made to improve the working and effectiveness of failing Egypt stock market which continued to stagnate. In 1990s the Egypt stock market went under significant revival of government liberalization policies and finally in 1997, major changes were made in Egypt stock market that reformed the stock market and several important steps have been taken by government to modernize t he stock exchange. The Egyptian Stock Market has significantly grown by 40% per year since the 1997 reforms and in May, 2001 it reached $36.7 billion. (AMF, 2001). In the current situation of Egypt Stock market, the prices of share fell down on Monday and EGX30 index fell by 3.84 percent with the closing of stock market (AFP, 2010). With the losses on two consecutive days the Egyptian Stock Exchange rose on Tuesday with an increase of 2.1 percent in the EGX30 gaining 140 points close to 6659 and the prices of share jumped to 3.5 percent (Egypt News, 2010). Egypt Stock market History The Egyptian Stock exchange is one of the oldest stock exchange which was established in the Middle East. In early times Egypt had two stock exchanges namely Alexandria Stock exchange which was established in 1883 and then Cairo Stock exchange in 1903. The Alexandria futures market was one of the oldest market in the world. The first transaction which took place in 1885 was of cotton in Alexandrias cafà © de lEurope, which was later, named as Mohamed Ali Square. At that time Reputation was everything and timing and reliability was considered to be important if the profits were made on regular basis. There were two respected institutions which were affiliated with the International Cotton Congress. At an informal meeting in the early 1900s, the Monsieur Maurice Cattaui reminded the merchants and broker that there should be stocks exchange in Cairo same as of Alexandria. The official headquarters for Cairo stocks exchange was chosen to be the old premise of Ottoman Bank. In 1928, the Cairo stocks exchange moved into its present premise Sherifien Street. In July 1961, the two stock exchanges merged into Cairo and Alexandria stock exchange which was ranked fifth in the world in terms of market capitalization. (The Egyptian Exchange, 2010). Currency and its History C:Users$uYoGDesktopcurrency.jpg C:Users$uYoGDesktopmoney.jpg Source: Google Images The official currency of the Egypt is Egyptian Pound (Geneih) usually written as L.E. Earlier Egypt was part of the Ottoman Empire until the French occupation took control in 1798 and later on by British in 1801. In early 1900s the Egypt was made a British protectorate. In 1922, the Egyptian kingdom was declared and on November 14, 1936 Egypt gained its full independence. From 1958-1961, Egypt was untied with Syria, as a part of United Arab Republic. In 1834, the financial system was reformed by Mohammed Ali, setting 1 Egyptian Piastre/Qrish divisible into 40 Para and equal to 1/100 Pound. On November 14, 1985, the Gold standard was adopted and in 1898, the National Bank of Egypt started issuing Bank Notes but they were not legal until 1914. In 1961, Central Bank of Egypt took control and became the ultimate authority of issuing note and they started issuing some small denomination notes (Global Financial Data, 2010). The Egyptian Pound was pegged to the US dollar until 2000 and central bank of Egypt wa s forced to devalue the Egyptian Pound due to several economic crisis in Egypt. From 2000-2003 the value of Egyptian Pound felt almost to 50 percent. The paper money of Egypt has two faces; an English face and an Arabic face and there are different pictures on each faces. The Arabic face has pictures of mosques in Egypt while the English side has Pharaonic scene. The coins are generally made of silver and copper and the coins have pictures of pyramids on one side and value denomination on the other side (Egyptvoyager, 2000). Banking The banking sector of Egypt is one of the well-established part of the economy and the first bank in Egypt was dated back in 1920s and expanded markedly in 1970s by their so called open door policy (AmCham Egypt, 2010). The Central Bank of Egypt is the governing body of the banking sector in Egypt, which comprises of 11 Investment banks, 24 commercial and joint venture banks, 15 branches of foreign banks and 3 specialized banks (HSBC, 2001). There has been continuous growth in the annual growth in deposits and assets. By June 2004, the ROE and ROA of Egyptian banks rose to 9.8% and 0.5% respectively. The Egyptian banking sector is improving with time and has gone various reforms in the form of MA, privatization from 1991 up to today. (AmCham Egypt, 2010). Egyptian Currency Exchange to USD The Egyptian Pound is the official currency in Egypt and its symbol is  £E. The Current conversion of Egyptian Pound to US Dollar. Mathematically, 5.50 Egyptian pound per 1 USD. (Indirect Quote) (CoinMill, 2010) 0.18 USD per 1 Egyptian pound. (Direct Quote) (CoinMill, 2010) Business Practices In the Egyptian business culture, the key to doing business well is patience. Initial contacts regarding business are very important and they often mean the difference between success and failure. Egyptians are little more concern on the part of trust and know how i.e. why they mostly do the business that they know or trust, for t his reason before practicing any business in Egypt one should have a mediator or a representative who can assist in meeting and acts as go-between (CIA World Fact Book, 2007). As there is diversity in culture of every nation, there are certain Dos and Donts while practicing or starting or doing a business in Egypt which must be followed. Dos Before doing business, make appointments which should be scheduled either in written or over telephone a week before the appointment. (CIA World Fact Book, 2007). Maintaining an eye contact with the Egyptian counterpart, especially with male colleague is a sign of truth and honesty. (CIA World Fact Book, 2007). Always wait for your Egyptian business associate to initiate the greeting at first meeting. Addressing Egyptian counterparts with their title followed by their surname is deeply appreciated with pride. (CIA World Fact Book, 2007). While doing a business impeccable appearance is important. Male business visitors should we ar suits with neckties on most occasion. Donts Rushing or forcing the Egyptian business counterpart while making quick decision can sometimes proves to be ineffective. (CIA World Fact Book, 2007). If, Egyptian business associate stands very close to you and talk then dont get surprised and dont try to get back as this would create a bad impression and may lead to offence. Asking detailed question about their family members is considered to be inappropriate, especially family members. (CIA World Fact Book, 2007). Avoid setting up meetings during Ramadan. Starting a business in Egypt While starting a business or a firm in Egypt, one has to go through the legal and bureaucratic hurdles. There is a certain procedure which has to be followed while registering a new company or a firm. (World Bank Group, 2010). The first and foremost step in starting a business is to obtain a legal certificate from a well-known authorized bank, which might cost EGP 300 and take up t o a day to get the certificate in hand. Next step is to deposit the documents to the department of companies, which are viewed by a lawyer and a detailed invoice of all the fees is issued. Third step is to get the articles of association registered and notarize the companys contract. After the articles are registered, the authority then issues a certificate notifying the establishment of the company; this process might take up to 24 hours. Once the company gets establishment certificate, the company completes the tax registration process. Last step is to get the employees registered with the National Authority of Social Insurance. (The World Bank Group, 2010) Negotiation Practices Egyptian business people are mostly experienced in doing business and interacting with outsiders. While negotiating with these people one thing should always be kept in mind is that the people here expects the things to be done in their way. (Katz, 2008). There are some negotiating pra ctices while doing a business in Egypt: Leveraging relationships is a key element while negotiating in Egypt and Egyptian business people never look for situations like win-win. (Katz, 2008). Pace of negotiation is slow and protracted and often negotiation decisions are made in rounds rather than at a table.(Katz, 2008) Information is not shared freely as Egyptians think sharing information can create bargaining advantages. (Katz, 2008) Egyptian businessmen are very smart at using deceptive techniques and are often use them. Sources AFP. (2010), retrieved from https://www.google.com/hostednews/afp/article/ALeqM5g4kHjFmtReyhZpAkC_AVAs312NYA AmCham. (2010), American chamber of commerce in Egypt, retrieved from https://www.amcham.org.eg/BSAC/StudiesSeries/Report47.asp AMF. (2001), The database for Arab financial markets, pp. 51-55, AMF: Abu Dhabi CIA World Fact Book. (2007), retrieved from, https://www.communicaid.com/access/pdf/library/culture/doing -business-in/Doing%20Business%20in%20Egypt.pdf Coin Mill. (2010), retrieved from, https://coinmill.com/EGP_USD.html#EGP=1 The Egyptian Exchange. (2010), retrieved from, https://www.egyptse.com/English/Mission_vision.aspx The Egyptian Exchange. (2010), retrieved from, https://www.egyptse.com/English/homepage.aspx Egypt News. (2010), retrieved from, https://news.egypt.com/en/201003249948/news/-business/egyptian-stock-exchange-rallies-jumps-2.1-pct.html Egypt Voyager. (2000), retrieved from, https://www.egyptvoyager.com/features_money.htm Global Financial Data. (2010), retrieved from, https://www.ameinfo.com/financial_markets/Egypt/Currency/ Google Images. (2010), retrieved from, www.panoramio.com/photos/original/18078449.jpg HSBC Investment Bank. (2001), Treasury and Capital Markets: Guide to Egypt Katz, L. (2008), Negotiation International Business- The Negotiators Reference Guide to 50 Countries Around the World Mohie, E. M, Sour ial, M.S. (2000), Institutional Aspects, Distributional characteristics and efficiency of Egyptian securities markets; recent trends in Arab stock markets: Recent trends and performances, pp. 1-44, Cairo: AVC press World Bank Group. (2010), retrieved from, https://www.doingbusiness.org/ExploreTopics/StartingBusiness/Details.aspx?economyid=61 Yahoo Finance. (2010), retrieved from, https://finance.yahoo.com/q/bc?s=CMA.CAt=5yl=onz=mq=lc= Don’t waste time! Our writers will create an original "Research Into The Egyptian Stock Exchange Finance Essay" essay for you Create order

Freedom Of Exercise And Freedom - 975 Words

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Types of Computers Free Essays

Computers help us with our daily lives when we may not even know it. There are also different kinds of computers other than the personal computer that also help us in more harder tasks. But what are these other computers and how are we benefiting from their skills? There are 4 main types of computers. We will write a custom essay sample on Types of Computers or any similar topic only for you Order Now All these computers have different capabilities. Theses computers are: personal computers, mainframes, dedicated computers and embedded computers. They all help us in different ways, in different places and for different purposes. So, what do they do and how have they impacted upon society? Personal Computers- These computers may only be used by one person at a single time. The biggest ones are the ones you have at home that fit on a desktop. Some personal computers may be given additional microprocessors so as to perform special tasks like graphics, maths, sound etc. The uses for personal computers are very widespread. They are used in companies and at homes, and have many features that help us with simple to complicated tasks. These tasks may include writing up an assignment on a wordprocessor, storing information in a file, research a particular subject and so on. Personal computers can also be used for educational purposes, leisure (games) listening to music, watching movies, use of the Internet and a whole lot more. Also, portable types of personal computers have been made such as the laptop, notebook computers and PDA’s. †¢Mainframes- This type of computer is the fastest of them all. They use a big storage system and so they are able to do more of the complicated tasks and handle more information. Mainframes are the largest of the different types of computers and must be stored in several large cabinets. Some mainframes may be able to do several tasks while others might only be able to perform only one. Unlike personal computers, mainframes may have hundreds of people logged on at the same time. The users are said to be time sharing as the computer quickly swapping between users , doing little bits of work before going to another. The supercomputer, the fastest of the mainframes, are used to do even more complex projects like the design of aircraft. Although they are extremely powerful, there aren’t too many of them as they are also extremely expensive. The fastest of the the supercomputers are parallel computers. Dedicated Computers- These are special-purpose machines. Some include wordprocessors and video-game units. The smallest of the video-game units are the battery-operated ones such as the gameboy. Larger ones are the ones which plug into the tv like the XBox and the Playstation. The biggest of them all are found in game arcades. †¢Embedded Computers- These are control units built into the devices they control. Examples of embedded computers are telephones, digital watches and VCR’s. Aircraft and robots also have embedded computers inside them and missiles have them to direct them to their targets. How to cite Types of Computers, Papers Types of Computers Free Essays A computer is one of the most brilliant inventions of mankind. Thanks to computer technology, we were able to achieve storage and processing of huge amounts of data; we could rest our brains by employing computer memory capacities for storage of information. Owing to computers, we have been able speed up daily work, carry out critical transactions and achieve accuracy and precision at work. We will write a custom essay sample on Types of Computers or any similar topic only for you Order Now Computers of the earlier times were of the size of a large room and were required to consume huge amounts of electric power. However, with the advancing technology, computers have shrunk to the size of a small watch. Depending on the processing power and size of computers, they have been classified under various types. Let us look at the classification of computers. What are the Different Types of Computers? Based on the operational principle of computers, they are categorized as analog, digital and hybrid computers. Operational Principle Analog Digital Hybrid Analog Computers: These are almost extinct today. These are different from a digital computer because an analog computer can perform several mathematical operations simultaneously. It uses continuous variables for mathematical operations and utilizes mechanical or electrical energy. Digital Computers: They use digital circuits and are designed to operate on two states, namely bits 0 and 1. They are analogous to states ON and OFF. Data on these computers is represented as a series of 0s and 1s. Digital computers are suitable for complex computation and have higher processing speeds. They are programmable. Digital computers are either general purpose computers or special purpose ones. General purpose computers, as their name suggests, are designed for specific types of data processing while general purpose computers are meant for general use. Hybrid Computers: These computers are a combination of both digital and analog computers. In this type of computers, the digital segments perform process control by conversion of analog signals to digital ones. This was the classification of computers based on their style of functioning. Following is a classification of the different types of computers based on their sizes and processing powers. Processing Power Mainframe Microcomputers Mainframe Computers: Large organizations use mainframes for highly critical applications such as bulk data processing and ERP. Most of the mainframe computers have capacities to host multiple operating systems and operate as a number of virtual machines. They can substitute for several small servers. Microcomputers: A computer with a microprocessor and its central processing unit is known as a microcomputer. They do not occupy space as much as mainframes do. When supplemented with a keyboard and a mouse, microcomputers can be called personal computers. A monitor, a keyboard and other similar input-output devices, computer memory in the form of RAM and a power supply unit come packaged in a microcomputer. These computers can fit on desks or tables and prove to be the best choice for single-user tasks. Personal computers come in different forms such as desktops, laptops and personal digital assistants. Let us look at each of these types of computers. Personal Computers Desktop Laptop Netbook PDA Minicomputer Server Supercomputer Wearable Computer Tablet Desktops: A desktop is intended to be used on a single location. The spare parts of a desktop computer are readily available at relatively lower costs. Power consumption is not as critical as that in laptops. Desktops are widely popular for daily use in the workplace and households. Laptops: Similar in operation to desktops, laptop computers are miniaturized and optimized for mobile use. Laptops run on a single battery or an external adapter that charges the computer batteries. They are enabled with an inbuilt keyboard, touch pad acting as a mouse and a liquid crystal display. Their portability and capacity to operate on battery power have proven to be of great help to mobile users. Netbooks: They fall in the category of laptops, but are inexpensive and relatively smaller in size. They had a smaller feature set and lesser capacities in comparison to regular laptops, at the time they came into the market. But with passing time, netbooks too began featuring almost everything that notebooks had. By the end of 2008, netbooks had begun to overtake notebooks in terms of market share and sales. Personal Digital Assistants (PDAs): It is a handheld computer and popularly known as a palmtop. It has a touch screen and a memory card for storage of data. PDAs can also be used as portable audio players, web browsers and smartphones. Most of them can access the Internet by means of Bluetooth or Wi-Fi communication. Minicomputers: In terms of size and processing capacity, minicomputers lie in between mainframes and microcomputers. Minicomputers are also called mid-range systems or workstations. The term began to be popularly used in the 1960s to refer to relatively smaller third generation computers. They took up the space that would be needed for a refrigerator or two and used transistor and core memory technologies. The 12-bit PDP-8 minicomputer of the Digital Equipment Corporation was the first successful minicomputer. Servers: They are computers designed to provide services to client machines n a computer network. They have larger storage capacities and powerful processors. Running on them are programs that serve client requests and allocate resources like memory and time to client machines. Usually they are very large in size, as they have large processors and many hard drives. They are designed to be fail-safe and resistant to crash. Supercomputers: The highly calculation-intensive tasks c an be effectively performed by means of supercomputers. Quantum physics, mechanics, weather forecasting, molecular theory are best studied by means of supercomputers. Their ability of parallel processing and their well-designed memory hierarchy give the supercomputers, large transaction processing powers. Wearable Computers: A record-setting step in the evolution of computers was the creation of wearable computers. These computers can be worn on the body and are often used in the study of behavior modeling and human health. Military and health professionals have incorporated wearable computers into their daily routine, as a part of such studies. When the users’ hands and sensory organs are engaged in other activities, wearable computers are of great help in tracking human actions. Wearable computers do not have to be turned on and off and remain in operation without user intervention. Tablet Computers: Tablets are mobile computers that are very handy to use. They use the touch screen technology. Tablets come with an onscreen keyboard or use a stylus or a digital pen. Apple’s iPad redefined the class of tablet computers. These were some of the different types of computers used today. Looking at the rate of advancement in technology, we can definitely look forward to many more in the near future. Read more at Buzzle:  http://www. buzzle. com/articles/different-types-of-computers. tml The  types of computers  range from the Hybrid to the Analog types. The computers you come across in the daily course of your day range from laptops, palmtops and towers, to desktop computers, to name a few. But the very word â€Å"computers† reminds one of the desktop computers used in offices or homes. Different categories of computes have been devised in keepi ng with our varied needs. The Types Of Computers:  Analog and Hybrid (classification based on operational principle) Analog Computers:  The analog computer is almost an extinct type of computer these days. It is different from a digital computer in respect that it can perform numerous mathematical operations simultaneously. It is also unique in terms of operation as it utilizes continuous variables for the purpose of mathematical computation. It utilizes mechanical, hydraulic, or electrical energy or operation. Hybrid computers:  These types of computers are, as the name suggests, a combination of both Analog and Digital computers. The Digital computers which work on the principle of binary digit system of â€Å"0† and â€Å"1† can give very precise results. But the problem is that they are too slow and incapable of large scale mathematical operation. In the hybrid types of computers the Digital counterparts convert the analog signals to perform Robotics and Process control. Apart from this, computers are also categorized on the basis of physical structures and the purpose of their use. Based on Capacity, speed and reliability they can be divided into three categories of computers: 1. The Mainframe Computer  Ã¢â‚¬â€œ These are computers used by large organizations like meteorological surveys and statistical institutes for performing bulk mathematical computations. They are core computers which are used for desktop functions of over one hundred people simultaneously. 2. The Microcomputer  Ã¢â‚¬â€œ These are the most frequently used computers better known by the name of â€Å"Personal computers†. This is the type of computer meant for public use. Other than Desktop Computer the choice ranges as follows: Personal Digital Computer Tablet PC Towers Work Stations Laptops Hand Held Computer 3. The Mini computer  Ã¢â‚¬â€œ Mini computers like the mainframe computers are used by business organization. The difference being that it can support the simultaneous working of up to 100 users and is usually maintained in business organizations for the maintenance of accounts and finances. Yet another category of computer is the Super Computers. It is somewhat similar to mainframe computers and is used in economic forecasts and engineering designs. Today life without computers is inconceivable. Usage of different types of computers has made life both smooth and fast paced. There are a lot of terms used to describe computers. Most of these words imply the size, expected use or capability of the computer. While the term computer can apply to virtually any device that has a microprocessor in it, most people think of a computer as a device that receives input from the user through a mouse or keyboard, processes it in some fashion and displays the result on a screen. PC – The personal computer (PC) defines a computer designed for general use by a single person. While a Mac is a PC, most people relate the term with systems that run the Windows operating system. PCs were first known as microcomputers because they were a complete computer but built on a smaller scale than the huge systems in use by most businesses. †¢ De sktop – A PC that is not designed for portability. The expectation with desktop systems are that you will set the computer up in a permanent location. Most desktops offer more power, storage and versatility for less cost than their portable brethren. †¢ Laptop – Also called notebooks, laptops are portable computers that integrate the display, keyboard, a pointing device or trackball, processor, memory and hard drive all in a battery-operated package slightly larger than an average hardcover book. †¢ Palmtop – More commonly known as Personal Digital Assistants (PDAs), palmtops are tightly integrated computers that often use flash memory instead of a hard drive for storage. These computers usually do not have keyboards but rely on touchscreen technology for user input. Palmtops are typically smaller than a paperback novel, very lightweight with a reasonable battery life. A slightly larger and heavier version of the palmtop is the handheld computer. †¢ Workstation – A desktop computer that has a more powerful processor, additional memory and enhanced capabilities for performing a special group of task, such as 3D Graphics or game development. †¢ Server – A computer that has been optimized to provide†¦ How to cite Types of Computers, Essay examples