May 13 – Al-Shorouk Economic Bulletin: Finance: Strengthening Social Protection to Mitigate “Inflated Inflation”

“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, Friday, May 13, 2022, which came to the fore:

Finance: Strengthening social protection to mitigate “imported inflation” from abroad
Finance Minister Mohamed Maaait confirmed that Egypt, with its present and future, is “a trust in us all”. It requires the solidarity of the great Egyptian people with the efforts of the state in its various national institutions; Together we can overcome global economic challenges, as we have managed to contain the repercussions of the “Corona” crisis, by saying: “No government can succeed alone, and the bet is always on the people.
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Gold dropped 10 pounds, and records 1130 pounds
Gold prices fell by about 10 pounds in the local goldsmith markets, during today’s trading, to record the price of a 21 carat gram best selling in Egypt, 1130 pounds, compared to 1140 pounds. At 1007 pounds, and the price of the gold pound dropped 80 pounds to 9,200 pounds, according to Naguib Club, the former Secretary-General of the Gold Works Division in the Cairo Chamber.
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The economic reform program strengthened Egypt’s ability and resilience to cope with the shock of Corona
Dr. Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the European Bank for Reconstruction and Development, virtually took part in the plenary session of the Governors of the Member States of the Bank, during the activities of the 2022 Annual Meetings held in Marrakesh , Morocco, and said that Egypt adopted an ambitious economic reform program during the period 2016-2019, it contributed to strengthening economic indicators and supporting the economy’s ability to cope with the shock of Corona, until Egypt was one of the few countries that could achieve positive growth in 2020, motivated by the implemented economic and structural reforms.
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Supply Chain Commodities launches a tender to import 50 thousand tons of raw cane sugar of any origin
Today, Thursday, the General Authority for Supply Commodities announced the launch of a tender to import 50,000 tons of raw cane sugar from any facility for the Food Industries Holding Company, represented by the Sugar and Integrated Industries Company for supply during the period from 1 to 15 August, or from 16 to 31 August, or From the 1st to the 15th of next September, or from the 16th to the 30th of September
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So far, 1.3 million feddans have been harvested, and the money will be delivered within 48 hours
The Assistant Minister of Agriculture for Services and Follow-up Affairs, Dr. Abbas El-Shinawy, revealed that the size of the areas harvested so far for the wheat crop; 1.3 million feddans in various governorates, emphasizing that the harvest this year is very promising as the climatic conditions have served the wheat crop a lot.
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The Suez Canal Economy signs 6 memoranda of understanding for green hydrogen projects
The Suez Canal Economic Zone announced that it aims to become a leading regional center in the green hydrogen industry, coinciding with the global transformation of clean energy use, and indicated that 6 memoranda of understanding have been signed for large-scale green hydrogen and ammonia projects companies and global alliances, industrial facilities and complexes to establish Al-Sukhna region for the production of green fuel and its use for the supply of ship purposes or export to foreign markets.
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Payment of 210 million pounds to the stock points for the difference in bread points for the month of last April
The General Authority for Supply Commodities of the Ministry of Supply and Home Trade paid the fees of the food exchange points for the difference in bread points in the accounts of each port, including groceries, my association outlets and consumer complexes ahead of schedule. the month of last April he explained that every owner of a stock store, whether grocery or associations, can withdraw their money from bank teller machines distributed in all governors.
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Damietta Port receives 10 different ships during the last 24
Damietta Port received 10 different ships during the last 24 hours, while 11 other ships departed, bringing the total number of ships anchored in the port to 28 ships, and the outgoing movement of general cargo has 20575 tons reached, and the incoming movement of general cargo reached 56 353 tons.
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Cotton prices rise with increasing indicators of pressure on US supplies
Cotton futures contracts rose for the third day today, Thursday, supported by indications of increasing pressure on stocks in the United States, the world’s largest exporter, and July delivery contracts jumped a significant 3% to $ 1.4795 per pound on the Intercontinental Exchange for futures contracts before settling at $ 1.4553. Cotton fibers have risen 29% so far this year amid limited supplies and strong demand
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