Wednesday, April 13. Al-Shorouk Economic Bulletin: Increasing Benefits of the Vehicle Replacement Initiative by Luxor and Aswan

“Al-Shorouk” presents to you the five in the evening bulletin, which deals with the most important news of the economy and the financial and business community that took place throughout the day.

Al-Shorouk Economic Bulletin monitors the most important economic news today, Wednesday, April 13, 2022, the most important of which are the following:

Minister of Finance: Increasing beneficiaries of the vehicle replacement initiative by including Luxor and Aswan
Finance Minister Mohamed Maait confirmed that Luxor and Aswan, in implementing presidential mandates to expand the beneficiary base of the initiative to replace obsolete cars manufactured for twenty years or more with new ones powered by natural gas from to expand, is included in the governorships of the first phase.
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32.3% decrease in the value of the trade balance deficit during January
Today, Wednesday, the Central Agency for Public Mobilization and Statistics released the monthly bulletin of foreign trade data in January 2022, revealing that the trade balance deficit in January 2022 amounted to $ 2.44 billion, compared to $ 3.60 billion for the same month of the previous year, a decrease of 32.3%.
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Business Sector: Transfer of 4 Commercial Companies from the Transport Control Company to the Tourism Control Company
Hisham Tawfik, Minister of Public Affairs, chaired the work of the extraordinary general meetings of the two maritime and land transport holding companies, and the tourism and hotel holding.
The ministry said in a statement today, Wednesday, that during the two meetings it was agreed to transfer the affiliation of four commercial companies from the Transport Management Company to the Tourism and Hotel Management Company, namely: Jusoor Companies (Al- Nasr for Export and Import), Misr for Import and Export, Misr for Foreign Trade, and Commercial for Wood.
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The stock market returns quickly after the recovery of the Emirati deal
The stock market returned to decline today, Wednesday, after a brief recovery that allowed it to rise yesterday, thanks to the implementation of a deal that the holding company affiliated with the Abu Dhabi Sovereign Fund, the Emirates, acquired interests in 5 Egyptian companies has. , with a value close to one billion dollars.
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Emirates Holding: Acquisition of interests in Egyptian companies brings strong commercial benefits
Mohamed Hassan Al-Suwaidi, managing director and CEO of Emirates Holding Company “ADQ”, said the UAE has close ties with Egypt, strengthened by strong economic and trade relations, adding that since the launch of the strategic investment partnership platform between ADQ Holding and Egypt’s $ 20 billion sovereign wealth fund.
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The collection of £ 4.6 billion in taxes and fees at Suez Customs last March
Mohamed Maait, Minister of Finance, received a report from Shahat Ghaturi, head of the Customs Authority, in which he states that the Central Administration of Suez Customs released 13,331 customs certificates for strategic goods, production requirements and general merchandise during last March has. , including: “Wires, Textiles, electrical appliances, receivers, plastics, petroleum products, automobiles and parts, and others.
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Tax: The VAT registration limit is EGP 500 000
The head of the Egyptian Tax Authority, Reda Abdel Qader, confirmed that every taxpayer or taxpayer is obliged to submit an application to the competent tax authority for registration within thirty days from the start of the activity or from the date of subject to value. . -additional tax, as the case may be.
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Planning: The 2022-2023 plan aims to stimulate private sector participation in development efforts
Hala Al-Saeed, Minister of Planning and Economic Development, said the 2023/22 plan includes careful monitoring of the Egyptian family development plan’s executive programs and upgrading of the population’s characteristics, including the key axes of women’s economic empowerment. , increasing the degree of dependence on local resources, and increasing the local component in industry.
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Gold rises two more pounds, and 21 carats reaches 1027 pounds
Gold prices continued to rise in local goldsmith markets, amid trading today, Wednesday, by another two pounds, bringing the top-selling price of 21 carat grams in Egypt to around 1027 pounds, compared to 1025 pounds at the end of trading yesterday, due to the rise in prices of the yellow metal on global stock exchanges.
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Industry: Allocation of 2.5% of the cash reserve to chambers of commerce to supply Ramadan suitcases
Nevin Jameh, Minister of Trade and Industry, agreed to allocate 2.5% of the cash reserve to the chambers of commerce in the governors to provide Ramadan bags for citizens, as the minister’s decision was issued to deduct the reserve and purchase by a joint committee that includes the governors and chambers of commerce.
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World Bank: African debt risks exacerbated by war in Ukraine
Russia’s war with Ukraine has exacerbated sovereign debt risks in sub-Saharan Africa, the World Bank said, increasing the need for better mitigation measures to prevent a “major wave” of crises among developing countries in the region.
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