Economic news today, Tuesday.. 18 pounds, an increase in the price...

Economic news today, Tuesday.. 18 pounds, an increase in the price...
Economic news today, Tuesday.. 18 pounds, an increase in the price...

The Seventh Day published throughout the day, Tuesday, August 3, a number of economic news at the local and global levels, among which the rise in the price of gold in Egypt is about 18 pounds per gram due to the global rise of gold.

18 pounds, an increase in the price of gold

Gold prices in Egypt witnessed during the month of July 2021, an increase of about 18 pounds per gram of 21 karat, as gold began trading in July at 775 pounds per gram and began correcting its course, rising to levels of 793 pounds now at the time of drafting these lines.

The rise in gold in the Egyptian market came during the past month, after gold prices rose globally, after concerns about the most contagious Delta strain of the Corona virus strengthened the attractiveness of the yellow metal as a safe haven, in addition to expectations of interest rates in America, which the Federal Bank there hinted at continuing its current situation and monitoring. economy situation.

We may witness changes in the price of gold in the coming hours, as the global gold market awaits today, Tuesday, August 3, 2021, a decision and interest statement from the Reserve Bank of Australia, factory orders in the United States, the change in employment and the unemployment rate in New Zealand, and traders in the gold market are trying to monitor any reports, indicators and economic data Because it affects the markets directly.

$3 million furniture exports to Nigeria

Director of Government Relations at the Furniture Export Council, Mohamed Alaa, said that Egyptian furniture exports to the Nigerian market rose to $3 million in 2020 compared to $170,000 in 2016.

Alaa added – during a symposium organized by the Furniture Export Council today (Tuesday) in cooperation with the Trade Representation Authority under the title (Development Opportunities for Egyptian Furniture Exports to Nigeria) – that wooden furniture exports account for 84% of the total exports, while metal furniture accounts for 16% of the total exports. Total exports.

He explained that the Nigerian market is one of the most important export markets for the sector and comes among the top 10 importing countries, as the volume of its imports of furniture rose last year to $67 million, compared to $40 million in 2019, and China accounts for about 70% of the total Nigerian market imports at a value of 47 million dollars. million dollars, while Egypt accounts for 4% of total imports.

The stock market capital fell by 7.2 billion pounds

The Egyptian Stock Exchange ended the trading session today, Tuesday, the middle of the week’s sessions, with a collective decline in the indices, under the pressure of sales of Arab and foreign dealers, and the market capital lost 7.2 billion pounds to close at the level of 703.859 billion pounds.

The “EGX30” index declined by 0.88%, to close at the level of 10726 points, and the “EGX50” index fell by 2.19% to close at the level of 2327 points, and the “EGX30” weighted index decreased by 1.11% to close at the level of 13160 points. The “EGX30” total return index decreased by 0.5% to close at the level of 4170 points.

The index of small and medium-sized companies “EGX 70 of equal weights” decreased by 2.97% to close at the level of 2730 points, and the “EGX 100 index of equal weights” fell by 2.45% to close at the level of 3710 points.

2.7 billion pounds in taxes and fees at Port Said customs last July

Dr. Mohamed Maait, Minister of Finance, reviewed the efforts made by customs officials to overcome obstacles and facilitate customs procedures for the business community, through customs exemptions for imported strategic goods. Which contributes to improving the performance of work in customs administrations, reducing the time of customs release, meeting the needs of the local market, and contributing to price stability.

The Minister received a report from El-Shahat Ghaturi, Head of the Customs Authority, in which he indicated that the Central Administration of Port Said Customs and the Free Zone, headed by Mohamed Hanafy, released 8,163 final import customs certificates, during the month of July, for various types of strategic goods and general merchandise, including Wheat, pulses, corn, production requirements, cars and spare parts.

The report added that the taxes and customs fees collected on the import certificates amounted to 429 million and 518 thousand pounds, while the total value-added taxes and other fees collected from these certificates amounted to 2 billion and 291 million and 335 thousand pounds.

The report indicated that the General Administration of Exports at Port Said Customs, during the month of July, exported 426 customs declarations covered by various customs systems with a total value of one billion and 43 million and 257 thousand pounds for various types of strategic goods and general merchandise, including: “foodstuffs, juices, and fruits.” and primary raw materials.” A fee of EGP 100,861 was collected from some exported customs declarations.

The report indicated that the total taxes, customs duties, taxes and other fees collected at Port Said customs during the month of July amounted to about 2,720 million and 853 thousand pounds.

14 sectors declined in the stock market

14 sectors on the Egyptian Stock Exchange declined during the trading session today, Tuesday, led by tourism and entertainment by 4.04%, followed by the contracting and engineering construction sector by 3.59%, followed by the real estate sector by 2.76%, then the paper and packaging materials sector by 2.69%, then the food and beverage sector By 2.38%, the textiles, durable goods, trade and distributors sectors fell by 1.92% and 1.91%, respectively, then the health care and pharmaceutical sector by 1.69%.

The communications, media and information technology sector also declined by 1.22%, followed by the services, industrial products and cars sector by 0.94%, followed by the non-banking financial services sector by 0.68%, then the basic resources sector by 0.51%, then the educational services sector by 0.4%, and finally the banking sector by 0.07%, while 3 sectors, namely, transportation and shipping services, increased by 0.28%, then the energy, support services and building materials sectors by 0.02%.

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