A major collapse in the gold market.. new cooperation between Egypt and China.. and Egypt pays 6 billion dollars.. Welcome to the Thursday News Harvest
And starting with the goldsmiths market… where gold prices in the local markets continued to decline during Thursday’s trading, with the decline of the ounce on the global stock market, approaching the lowest level in two months, due to the strength of the dollar, with markets awaiting the release of American economic data later today, to obtain more information. Evidence of the monetary path of the US Federal Reserve.
Engineer Saeed Embabi, CEO of the “iSagha” platform for trading gold and jewelry online, said that gold prices in the local markets fell by about 40 pounds during today’s transactions, and compared to the close of yesterday’s transactions, so that the price of a gram of 21 carat gold recorded a level of 3555 pounds, while it declined. An ounce on the global stock market reached about $26, reaching $2,548.
Embabi added that a gram of 24 karat gold recorded 4,063 pounds, a gram of 18 karat gold recorded 3,047 pounds, while a gram of 14 karat gold recorded about 2,370 pounds, and a gold pound recorded about 28,440 pounds.
We went to Dr. Manal Awad, Minister of Local Development, and Engineer Abdel Muttalib Emara, Governor of Luxor, to a meeting today with a number of leading Chinese companies in the fields of slaughterhouses, resulting waste, and wastewater treatment, where a number of technical presentations from these companies were heard, and this comes on the sidelines of the current visit to the Chinese province of Sichuan.
The meetings began with a meeting with the leaders of a company specialized in the field of treating slaughterhouse waste, which was founded in 2009. It has more than 1,000 global projects and works to treat slaughterhouse waste and transform it into feed and oils.
For her part, the Minister of Local Development presented during the meetings a number of investment opportunities available on the land of the governorates in the areas of work of these companies to discuss the possibility of cooperation in them and pushing for more joint investments in light of the state’s direction to strengthen the mechanisms of localization of industry and technology transfer, through cooperation with the private sector and foreign direct investment. .
And we come to important news: Egypt is paying foreign dues during the month of November of about $6 billion. It is time to pay them, coinciding with the fourth review of the economic reform program in cooperation with the International Monetary Fund.
These dues are distributed between international bonds that have matured, a loan installment to the International Monetary Fund, dues from foreign oil companies, and loans from Gulf banks for the benefit of the Ministry of Finance, according to what was published by some regional and local websites.
Dr. Mohamed Maait, former Minister of Finance, had previously said that Egypt had paid about $25 billion in domestic and foreign dues from last March to last June.
The latest news with us comes from the Ministry of Finance, where Ahmed Kouchouk, Minister of Finance, confirmed that dealing with climate challenges requires concerted international efforts and sustainable soft financing programmes, as climate financing requires international cooperation with an innovative vision and more responsive to basic needs.
The Minister explained, during his participation in the Debt Sustainability Forum supported by the Egyptian Ministry of Finance and the United Nations Economic Commission for Africa at the “Finance Day” at the COP29 Climate Conference in Azerbaijan, that the Debt Alliance for Sustainable Development that was launched at the Sharm El Sheikh Climate Conference could be part of The solution is in the issue of “climate finance”, calling on countries, financial institutions and the private sector to join this alliance. In a way that contributes to advancing the development path.
The minister added that financing gaps are widening in developing and African countries with increasing economic and social pressures.
