Today, Tuesday, 2-3-2021, witnessed a number of economic events that were monitored on the pages of the seventh day, most notably the government's plan to deliver gas to 1.2 million housing units and villages of a decent life.
During the next report, "The Seventh Day" reviews the main economic news today ...
The government is following up on the plan to deliver gas to 1.2 million housing units and villages of decent life
The government held a meeting to follow up on the implementation of the national project to deliver natural gas to homes in the governorates of the Republic.
During the meeting, the government followed up the current delivery rates as part of the plan being implemented during the fiscal year 2020/2021 to deliver natural gas to about 1.2 million housing units, as the plan proceeds with distinct implementation rates that exceed the plan, whether in the field of converting residential units to use natural gas or extending new gas networks in the regions. Targeted.
The meeting also reviewed the action plan to implement projects to deliver natural gas to villages within the initiative of President Abdel Fattah Al-Sisi (A Decent Life) to develop the most needy villages and hamlets, the steps taken to implement the natural gas networks in these villages and the ongoing coordination to extend the networks after completing the sewage networks in the villages that did not enter them Al-Mulla stressed that the natural gas delivery projects are among the priorities of the state to improve life in these villages and provide civilized services for their residents.
Enterprise development: Financing 1.24 million micro-projects over 6 years, with EGP 13.5 billion
The Small Enterprise Development Agency announced that, from July 2014 to December 2020, it had succeeded in financing 1.24 million micro-projects, with a total of 13.5 billion pounds, which provided more than 1.613 million job opportunities.
This came in a statement issued by the agency today, announcing that Nevin Badr El Din, Head of the Central Sector for Microfinance at the Agency for the Development of Medium, Small and Micro Enterprises, was honored among the 50 most influential women in the Egyptian economy for the year 2020 during the activities of the "Egypt for the Best" conference that was organized under Patronage of Dr. Mustafa Madbouly, Prime Minister.
The agency praised Nevin Badr El-Din's efforts in developing the micro-enterprise sector in the agency and its success in attracting a large number of donors to provide the necessary funding for the growth of this sector in addition to the expansion of the number of banks and NGOs that the agency cooperates with, which helped it reach a greater number of citizens in the regions. Those most in need to improve their standard of living and create stable job opportunities through micro enterprises
Financial control allows factoring firms to finance the purchase of shares on margin
Dr. Muhammad Omran, Chairman of the Financial Supervisory Authority, announced that the Board of Directors approved the creation of a source to finance the activity of buying securities on margin, by allowing factoring companies to provide the service of deducting future financial rights to brokerage companies in securities arising from the activity of buying securities on margin. Brokerage firms have new sources of financing that enable them to expand the activity of buying on margin, and what will consequently lead to further revitalization of trading in securities on the Egyptian Stock Exchange.
In a press release today, Tuesday, Omran said that this step comes within the framework of achieving integration between non-banking financial activities, and that the Commission’s decision No. 25 of 2021 included in its second article the obligations and conditions that must be met by a practitioner of factoring companies for the activity Factoring for financial rights arising from margin purchases, at the forefront of which was the obligation to engage in the activity in accordance with the provisions of Chapter Three (related to factoring activity) of Law No. 176 of 2018 regulating financial leasing and factoring activities, as well as the Authority’s Board of Directors Decision No. (163) of 2018 regarding Executive controls for practicing factoring activity.
The Post issues a stamp commemorating 75 years of Egyptian-Filipino relations
Dr. Sherif Farouk, Chairman of the Board of Directors of Egyptian Post, said that the relations between Egypt and the Philippines combine many aspects of cooperation, especially in the field of tourism, industry, agriculture, the medical field and the exchange of experiences. Therefore, the Egyptian Post initiated the issuance of a commemorative postage marking the 75th anniversary of the Egyptian-Filipino relations with the aim of strengthening diplomatic relations. The powerful that brings together the two friendly countries.
Dr. Sherif Farouk, head of the Egyptian Post, added that commemorative stamps are a means of cultural communication between different countries and peoples of the world and document the history of nations throughout the ages, so the Egyptian Post is always keen to issue commemorative stamps in important events and occasions to commemorate those events.
The Egyptian stock market indices fell ... and the capital loses 2.1 billion pounds
The Egyptian Stock Exchange ended the trading session today, Tuesday, midway through the week’s sessions, with a collective decline of the indices, for the third consecutive session, and the market capital lost about 2.1 billion pounds, to close at 700.447 billion pounds.
The EGX30 index declined by 0.43%, to close at 11471 points, the EGX 50 index fell by 0.63% to close at 2315 points, and the EGX 30 index of specific weights decreased by 0.41% to close at 14082 points. And the EGX 30 overall return index fell by 0.64% to close at 4389 points.
The index of small and medium-sized companies, "EGX 70 is equal weights", declined by 0.99% to close at 2293 points, and the EGX 100 index of equal weights fell by 0.75% to close at 3326 points.
Currency rates today, Tuesday, 2-3-2021, in Egyptian banks
Currency rates varied today, Tuesday 2-3-2021, against the Egyptian pound in banks, compared to the close of trading yesterday, as the price of the dollar rose today, while the price of the euro and the pound sterling, as the euro recorded 18.79 pounds for purchase, 18.99 pounds for sale, compared to yesterday's price EGP 18.90 for purchase, EGP 19.03 for sale, and these prices are according to the latest National Bank of Egypt updates.
While the price of the dollar rose today, at the beginning of the morning trading of banks against the Egyptian pound, by a rate ranging between one penny for two piasters, up by two piasters in the National Bank of Egypt and Banque Misr, recording 15.66 pounds for purchase, 15.76 pounds for sale compared to yesterday's price 15.64 pounds for purchase, 15.74 pounds for sale.
Gold prices in Egypt are rising by two pounds, and 21 karat is recorded at 768 pounds per gram
Gold prices recorded in trading today, Tuesday, a slight increase of two pounds when compared to the closing price on Monday, as the 21-carat gold, which is the best-selling in Egypt, rose from 766 to 768 pounds per gram, with several changes and a continuous fluctuation in the global price of gold in the last 24 hours.
Gold prices fell yesterday at the conclusion of trading at a value of 6 pounds, with the global price of an ounce of gold falling at $ 1715, but with the price of an ounce of gold now rising to $ 1730, the Egyptian market has witnessed a move towards an increase of two pounds, amid expectations that gold prices will continue to fluctuate.
Gold prices today:
Caliber 18 records 658 pounds.
Caliber 21 records 768 pounds.
Caliber 24 records 877.71 pounds.
An ounce of gold is $ 1730.
The gold pound is 6144 pounds.
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