Economic news today.. the decline in gold and the decline in stock indices

Over the past hours, the seventh day has published a number of important economic news, perhaps the most prominent of which is the situation of stock movement in the Egyptian Stock Exchange, as well as the movement of gold and the activity of the private sector, and the following are the most prominent economic news

$50 million food exports to France

Tamim Al-Dawy, Deputy Executive Director of the Export Council for Food Industries, announced that the sector’s exports to France will grow by 15% in 2021 to record about $50 million, compared to $43 million in 2020.

He added during the activities of the symposium organized by the Export Council under the title “Opportunities to develop Egyptian food industries exports on the sidelines of the SIAL Paris” exhibition, that France occupies the 23rd place in the list of the most important import markets for Egyptian processed foods during 2021, noting that the number of Egyptian companies exporting processed foods in France During the past year, about 135 companies, including 16 companies, whose exports exceeded one million dollars, representing 77% of the total exports.

He pointed out that Egypt’s exports of food industries to France witnessed a variation over the past 8 years, recording about $294 million, with a growth rate of 61.3% between 2021 and 2014.

200 billion for wheat cultivation projects

The Ministry of Planning and Economic Development held a training workshop for students of the second and final batch of the current year of the summer training program that the ministry holds annually. Al-Monem Supervisor of the Central Administration of Construction and Housing.

Muhammad Farid talked about a number of national projects that the state is working on and in which the Ministry of Planning and Economic Development participates, referring to the national project to reclaim millions of acres to provide wheat and the country’s main crops at a cost of 200 billion, which includes networks extending more than 300 km to ensure that water is not wasted to reach To the desert areas, in order to create a new delta, adding that the cost of one of the water purification plants in the project has so far reached 60 billion pounds to treat wastewater, to reclaim about 2.2 million feddans south of El-Dabaa, stressing that the project aims to reduce the gap between what is imported and what is available from 40% to 20% next year.

On the infrastructure sector, productive activities and services, Farid explained that the sector is one of the most important sectors in the ministry, as its importance stems from the association of its activities with businesses that significantly affect the state’s economy because it contributes to supporting all economic sectors such as housing, trade and industry, agriculture, irrigation, electricity , petroleum, transportation, communications, tourism, catering and internal trade, by preparing project plans for these sectors, managing their investments and following up on their implementation, including major national projects.

For her part, Heba Abdel Moneim reviewed the organizational structure of the infrastructure sector at the Ministry of Planning, and the most important ministries and agencies responsible for them, explaining that the sector includes the central administration for productive activities and services, the central administration of commerce and industry, the central administration of housing, the central administration of agriculture and irrigation, and the central administration of energy.

On the most important national and strategic projects, Abdel Moneim referred to the project to develop and expand the national road network, the rapid electric train network, the monorail, the national project for the rehabilitation and lining of canals, and the project to develop slums, as well as securing electrical nutrition for development projects and expanding the national electricity network, with electrical connection with countries Neighborhood, in addition to renewable energy projects, the national program to increase the water container, the social housing project, digital transformation, Upper Egypt development, as well as agricultural communities in North and South Sinai.

Gold prices drop

Gold prices fell today, Wednesday, by about two pounds in the middle of today’s trading, to record a gram of 21 carat gold, which is the best seller in Egypt, 1113 pounds per gram, and the global price of gold at the time of writing these lines was 1704 dollars.

Gold price today in Egypt

21 caliber records 1113 pounds

18 caliber records 954 pounds

24 karat gold records 1272 pounds

The gold pound is 8904 pounds.

Today, Wednesday, September 14, 2022, the stock and gold market awaits the announcement of industrial output in Japan, the consumer price index in Britain, and the monthly report of the International Energy Agency.

A collective decline in stock market indices

The Egyptian Stock Exchange ended the trading session of today, Wednesday, with a collective decline of indices under the pressure of sales of Arab and foreign dealers, amid medium trading, and the market capital lost 11.6 billion pounds to close at the level of 701.652 billion pounds.

The “EGX30” index declined by 1.96% to close at 10,193 points, the “EGX50” index fell by 1.68% to close at 1938 points, and the “EGX30” weighted index decreased by 2.08% to close at 12,602 points. The “EGX30” total return index fell by 1.9% to close at 4,124 points.

The index of small and medium-sized companies “EGX 70 of equal weights” decreased by 1.34% to close at 2271 points, and the “EGX 100 index of equal weights” fell by 1.52% to close at 3239 points.

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