The rise in stock market indices and the continuation of the sharp decline in gold prices in Egypt..Video

Written by Reham Al-Basha

Monday, February 06, 2023 09:00 PM

Our colleague Abdel Halim Salem reviewed a number of important economic news in The economic newsletter for the seventh day TV Among them, the Egyptian Stock Exchange ended the trading of today’s session, Monday, with a collective rise in indices driven by Arab purchases, amid high trading, and the market capitalization gained 13 billion pounds, to close at the level of 1.050 trillion pounds..

As you testify gold case A kind of remarkable stability at the level of 1720 pounds per gram for a gram of 21 karat gold, which is the best-selling in Egypt, with the price of an ounce of gold moving on the global stock exchange to the level of 1880 dollars in today’s trading, compared to 1865 dollars..

Gold prices today:

18 karat records 1474 pounds.

21 karat records 1720 pounds.

24 karat records 1965 pounds.

The gold pound records 13,760 pounds.

Abdel Halim Salem also reviewed the statements of Mukhtar Tawfiq Abbas, head of the Egyptian Tax Authority, that it is a continuation of the procedures required by the law of overtaking the delay fee and the additional tax promulgated by Law No. 153 of 2022 and necessary to benefit from the advantages contained in its provisions. Until August 31, 2022, by submitting an application for a tax settlement to the competent tax office / center until the amount that is not exceeded and estimated at 35% of the delay fee or the additional tax is determined, which must be paid no later than March 1, 2023, and whose payment is the complementary condition for benefiting from the provisions of this is the law.

Mukhtar Tawfiq called on the financiers and taxpayers to go to the competent center / mission to which it is affiliated geographically to submit a settlement request to complete the process of benefiting from Overtaking Law No. 153 of 2022.

The bulletin reviewed the meeting of Dr. Mostafa Madbouly, Prime Minister today, with Engineer Tariq Al-Mulla, Minister of Petroleum and Mineral Resources; To follow up on the developments of the executive position of the project to establish the “Soda Ash” production complex and its derivatives.

At the outset of the meeting, the Prime Minister indicated the need to move forward with the implementation of this vital project, which comes within the framework of implementing the directives of President Abdel Fattah El-Sisi, President of the Republic, on the need to start producing “Soda Ash” due to its great importance in the industrial field. The project is also one of the axes of the national initiative for the development of Egyptian industry, “Ibda”; In an effort to increase dependence on the local product and reduce the import bill.

During the meeting, the Minister of Petroleum indicated that the state aims, through the implementation of this important project, which will be implemented in the new city of El Alamein, to produce sodium carbonate to meet the needs of the local market of this substance, thus saving its import from abroad..

Engineer Tariq Al-Mulla said: The implementation of this project also comes within the framework of the projects of the Ministry of Petroleum to increase the added value, and among these workshops is the manufacture of “Soda Ash” products.

On the developments of the project, the minister explained that the shareholder agreement was signed and the project company (Egyptian Soda Ash) was established. Whereas, the “Ebda” company launched the “Egyptian Soda Ash” company, in partnership with the Egyptian private sector represented by the Soda Chemical Industries Company, and in cooperation with the Ministry of Petroleum represented by the Petrochemical Holding Company, the Ministry of Business Sector, and the Arab Organization for Industrialization; In order to expand in the various industries related to soda ash, such as the glass, textile, and petrochemical industries, in addition to the manufacture of soap, detergents, chemicals, and other various industries..