Day 7 Urgent – Economy Summary: The Central Bank reduces the benefit of industry support and real estate financing initiatives to 8%

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The website “The Seventh Day” published a set of important economic news today, Thursday, the most prominent of which is the central bank’s decision to reduce the interest of industry support initiatives and real estate finance and tourism to 8% .. as well as the announcement of the National Bank pumping 1.5 billion pounds of investments in the Egyptian Stock Exchange … and also the Egyptian Stock Exchange announced a loss 95 billion pounds in a week..and its index is down by 17.76% and others … Here are the details …

The central bank cuts the interest of industry support initiatives, real estate finance and tourism to 8%

The Central Bank of Egypt decided today, Thursday, to reduce the benefit of industrial private sector support and real estate financing initiatives for middle-income and the initiative to support, replace and renew residence hotels, floating hotels and tourism transport fleets to 8%, instead of 10%, decreasing.

central bank
central bank

Al Ahly Bank announces pumping 1.5 billion pounds of investment in the Egyptian Stock Exchange

The National Bank of Egypt announced the start of investing in the Egyptian Stock Exchange, according to its vision and convictions that the decrease in the Egyptian Stock Exchange is a temporary decline resulting from global events related to the Corona virus, which negatively affected all global markets and stock exchanges, and led to a sharp decline in the stock exchanges of the whole world regardless On the strength or weakness of the real performance of companies, and consequently, many global investors exit the emerging markets as a natural behavior to deal with this type of crisis.

Head of the National Bank
Head of the National Bank

The Egyptian Stock Exchange is losing 95 billion pounds in a week..and its index is down by 17.76%

The main index of the Egyptian Stock Exchange “EGX 30” decreased by 17.76% to close at 9205.58 points, and the index of small and medium shares, “EGX 70 equal weights”, fell by 23.33% at 840.47 points.

The Egyptian Stock Exchange
The Egyptian Stock Exchange

Communications: giving 30 times the balance charged minutes and free units to citizens

The National Communications Regulatory Authority has agreed with the mobile operators in Egypt to enhance the use of electronic transactions by providing incentive offers on its services provided to citizens when charging the balance using electronic payment methods, whether through the electronic applications of each company, or by charging the balance using the cash service (Electronically) by giving 30 times the balance charged minutes and free units when using this feature, and these offers are valid for a month and can be extended for other periods, in order to facilitate the citizens in charging the mobile balance through electronic transactions without the right to An exit from the home and an encouragement to activate the policies of working remotely; and in light of the directives of Dr. Amr Talaat, Minister of Communications and Information Technology, to support the educational process during the suspension period.

Minister of Communications
Minister of Communications

Gold prices are down 10 pounds and 21 carat records 675 pounds per gram

Gold prices recorded on Thursday, a noticeable decline in the value of 10 pounds as a result of the decline in gold prices per ounce globally recorded 1475 dollars so far, compared to 1491 dollars at the close of the end of trading yesterday.

Gold bars
Gold bars

200 One million pounds in additional credit for the medical equipment in the Ministry of Health’s plan to confront Corona

Dr. Hala Al-Saeed, Minister of Planning and Economic Development agreed to increase the credits of the project for supplying advanced medical equipment with the Ministry of Health and Population plan for the current fiscal year 19/2020 as an additional appropriation of 200 million pounds to manage the needs of the first stage of medical devices needed to confront the Corona virus, within the framework of the comprehensive plan To counteract the virus.

The Chief Financial Officer issues precautionary measures to ensure the stability of microfinance

Dr. Muhammad Omran, Head of the Financial Supervision Authority, stressed the officials of all entities authorized to practice the microfinance activity, with the need to be careful and take all necessary precautionary measures to face the challenges and economic effects of the emergence of the emerging “Corona” virus, and the requirements of the current period of Solidarity and cooperation between the Egyptian state’s facilities to reduce these repercussions.

News Day 7 Urgent – Economy Brief: The central bank reduces the benefit of industry support and real estate financing initiatives to 8% – You can see the original news source from the following link, which is: The seventh day is urgent Al-Wahdah site disclaims all responsibility for the content of any news, but the responsibility rests with the original publisher of the news.

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