We publish economic news today in Egypt, the most prominent of which was the issuance of certificates with a return of 25% in the National Bank and Egypt, as well as developments in the Egyptian gold market and the stock exchange.
The market capital of the Egyptian Stock Exchange recorded the highest value in its history during today’s trading session, Wednesday, to reach 1.013 trillion pounds, surpassing the highest level it reached, which amounted to 1.008 trillion pounds in April 2018, and the number of transactions executed by the end of today’s session reached 115.6 thousand transactions, which is The highest in the history of the Egyptian Stock Exchange.
The Egyptian Stock Exchange ranked first in terms of the return of the main index compared to the main indices of the Gulf countries by 22.2%, and ranked second after the Tadawul and Abu Dhabi Stock Exchanges in terms of trading values denominated in dollars, with a total trading value of $59 billion during 2022, despite a decrease The value of the Egyptian pound against the dollar.
Certificate details with 25%
The National Bank of Egypt and Banque Misr announced the issuance of a new one-year savings certificate with a return of up to 25% to be spent at the end of the certificate period, or with a return of 22.5% to be paid monthly, as of today 4/01/2023.
The new savings certificate is issued in denominations of 1,000 pounds and its multiples, and the bank targets from this new certificate natural adults and minors (Egyptians and foreigners).
The interest is also calculated from the day following the purchase of the certificate directly, and it is possible to borrow against its guarantee during the period. It is not permissible to recover the value of the certificate before the lapse of 6 months starting from the working day following the day of purchase. The certificate is also retrieved at the end of its period at its full nominal value and can be recovered before that date according to the recovery values. prescribed by the bank.
Noting that all certificates are available through all branches of the National Bank of Egypt, as well as through internet banking and the mobile banking application, as well as through the bank’s call center 19623.
Welcome Ramadan Exhibition
Engineer Ibrahim Mahmoud Al-Arabi, President of the General Federation of Chambers of Commerce, announced that a number of “Welcome Ramadan” exhibitions have been opened in the governorates of Luxor, Aswan, the Red Sea, Minya, Sohag, North Sinai, Damietta and Sharqia. To be opened successively, in addition to the outlets of the governorates, the Ministry of Supply and Internal Trade, the outlets of my association, the outlets of the police and the armed forces, and a large number of these exhibitions will be established in all governorates of the Republic, in implementation of the directives of President Abdel Fattah El-Sisi.
Al-Arabi pointed out that the “Welcome Ramadan” series of exhibitions starts earlier than usual and continues until the month of Ramadan, in implementation of the presidential instructions to provide the largest number of commodity outlets for citizens at reduced and fair prices.
We publish the latest update on the price of gold today, Wednesday, January 4, 2022. The price of a gram of 21 karat gold, which is the best-selling in Egypt, reached 1675 pounds per gram, while the global price is heading up, recording 1858 dollars.
Gold prices today in Egypt: 18 carat, record 1436 pounds.
21 karat, a record of 1675 pounds.
24 caliber, 1914 pounds.
The gold pound is 13,400 pounds.
Hisham Al-Laithi, gold and metals market analyst at Sam Precious Metals, confirmed that the global gold market during 2023 is directly linked to central banks’ interest-related trends, whether by further raising interest rates or slowing down the rate of interest rise, which will have direct repercussions on the price of an ounce of gold.