Thursday, April 28. Al-Shorouk Economic Bulletin: Egypt’s non-oil exports jump to $ 9.1 billion during the first quarter of 2022

“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 on Thursday, April 28, 2022, the most important of which are the following:
With 20% growth … Egypt’s non-oil exports jump to $ 9.1 billion during the first quarter of 2022
Nevin Gamea, Minister of Trade and Industry, announced that Egyptian non-oil exports amounted to $ 9 billion and $ 176 million during the first quarter of 2022 (January-March), compared to $ 7 billion and $ 671 million during the same period in the same period last year. 2021, with a difference of one billion and 505 million dollars, which achieves an increase rate of 20%.
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The total deficit decreases to 4.9% in the first nine months of the current financial year
The total budget deficit of the state decreased during the first nine months of the current financial year and reached 4.89% of GDP, with a value of 388.604 billion pounds, compared to about 5.03% during the same period of the last financial year, as shown by the monthly financial report issued today by the Ministry of Economy.
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Implementation of an ownership transfer transaction on 43% of Banque du Caire’s capital, amounting to EGP 6.974 billion
The Egyptian Stock Exchange announced the implementation of a large-scale transaction on 43% of Banque du Caire shares for 1.124 billion shares, worth £ 6.974 billion, as ownership of the stake was transferred from Misr Capital Company to Banque Misr, which one is. of the major shareholders in Banque du Caire.The stock exchange has so far not disclosed any details of this process.
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Egypt offers $ 1 billion worth of treasury bills a year
The Central Bank of Egypt announced the issuance of treasury bills today for a period of one billion dollars, with a settlement on May 3, according to Reuters news agency.
The balance of foreign exchange reserves amounted to about 37 billion and 82 million dollars at the end of last March; Compared to $ 40 billion and $ 99 million at the end of February, a $ 3 billion drop, according to a Central Bank statement issued in early April.
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Petroleum: a collaboration protocol to convert Sharm El-Sheikh cars to run on gas
Engineer Tarek El-Molla, Minister of Petroleum and Mineral Resources, and Major General Khaled Fouda, Governor of South Sinai, signed a cooperation protocol to convert cars in Sharm El-Sheikh to work with natural gas as fuel, in the context of supporting the city’s presentation of the Conference of the Parties to the United Nations Convention on Climate Change Cop27 next November.
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Amendment to the Rules for Setting Cruise Hunting Transport Fees for the Suez Canal
Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, announced the amendment of the rules for determining Suez Canal transport fees for tourist yachts with a tonnage of less than 300 tons to save customers, save time and make the possibility possible. to pre-determine the economy of the voyage for yacht owners according to the destination and the tourist program designated for the voyage.
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Al-Mashat: $ 1.5 billion investment by the US Foundation in Egypt in the field of healthcare
Dr. Rania Al-Mashat, Minister of International Cooperation, highlighted the vital relations between Egypt and the United States and government institutions of both countries, and the role played by the US Development Company in Egypt, where it has investments that are estimated at more . than $ 1.5 billion in infrastructure, financial services and healthcare.
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Suez Customs released £ 318m worth £ 318m last March
Mohamed Maait, Minister of Finance, received a report from El-Shahat Ghaturi, head of the Customs Authority, in which he stated that the General Administration of Customs in Suez 1 284 owners’ cars of different models, models and origin for final released. exemption for personal and commercial use, including 909 “exemption with disabilities” cars, with a total value of up to 241 million and 371 thousand pounds, according to the statement from the Ministry of Finance today.
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50% of fintech founders are young
The Financial Technology Perspective in Egypt 2021 report – recently issued by the “Fintech Egypt” initiative of the Central Bank of Egypt – showed that the ages of founders of companies operating in the field of financial technology vary between 25 and 35 years (which is more than 50%), and that 64% of the entrepreneurs have obtained a bachelor’s degree, while about 33% of them have obtained a master’s degree, and only 3% have obtained a doctorate.
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Tax: The deadline for filing tax returns for legal entities has been extended to 8 May
Reda Abdel Qader, head of the Egyptian Tax Authority, said that in light of the Prime Minister’s Resolution No. 1426 issued on 18/4/2022, in which he specified the blessed Eid al-Fitr holiday; It was decided to extend the deadline for filing tax returns for legal entities, value-added tax, business earnings tax return, as well as Form 41 withholding and tax collection, to May 8, 2022.
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The Central Bank issues £ 22bn worth of treasury bills
Today, Thursday, the Central Bank of Egypt will issue treasury bills worth 22 billion pounds, in collaboration with the Ministry of Finance, to finance the budget deficit.
The Central Bank added on its website that the value of the first offer was £ 13 billion for a period of 91 days, and the value of the second offer was £ 9 billion for a period of 273 days.
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Gold drops 10 pounds, and 21 carats marks 1095 pounds
Gold prices fell by about 10 pounds during Thursday’s trading in local goldsmith markets, bringing the price of a 21-carat gram best-selling in Egypt to about 1095 pounds, compared to 1105 pounds at the end of trading yesterday, due to the fall in yellow metal prices on global stock exchanges, according to Naguib Club.Former Secretary General of the Gold Works Division at the Cairo Chamber of Commerce.
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