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Today's economic news summary ... The rise in gold and silver prices, and the winter sale date



The Seventh Day website published a number of important news throughout the day, Thursday, January 28, 2021, the most prominent of which was the rise in global gold and silver prices, and the following are the most prominent economic news.


The Enterprise Authority communicates with returnees from abroad

Nevin Jama, Minister of Trade and Industry and CEO of the Enterprise Development Authority, said that within the framework of this initiative, the agency provides all its financial, technical and training services to all youth and citizens returning from abroad who have lost their job opportunities due to the crisis of the spread of the Coronavirus to help and support them to establish small projects that suit their experiences in various fields ( Industrial, commercial, service and agricultural).


This is within the framework of implementing the "Nourish Your Country" initiative that was signed under the patronage of Dr. Mustafa Madbouly, Prime Minister, and in cooperation between the Ministry of Planning and Economic Development, the Ministry of State for Migration and Egyptians Abroad and the Small, Medium and Micro Enterprises Development Agency, with the aim of helping workers returning from abroad and affected by the pandemic Coronavirus to find alternative and stable job opportunities inside Egypt.


She indicated that, based on the database provided by the Ministry of Planning and Economic Development, the Enterprise Development Authority contacted more than 7 thousand citizens returning from abroad and affected by the Corona crisis (most of them from the governorates of Sohag, Gharbia, Dakahlia and Assiut) and had to return from some Arab countries in order to find out Their practical experience and skills and introducing them to the services provided by the agency in the field of financing small and micro enterprises, which are consistent with their potential, which ensures their success and continuity.


February 7 is the winter sale date

Engineer Ibrahim Al-Arabi, President of the General Federation of Chambers of Commerce, announced the start of the activities of the sales season, which will start on the seventh of next February and will continue for a month, explaining that the rate of discounts this year is expected to range between 20 to 50% in all governorates.


Al-Arabi explained that the governorates' chambers of commerce confirmed that the coming discount season will witness a great turnout from merchants to formally participate in the dealership to activate the internal trade movement, which has witnessed a state of stagnation during the last period. Also, market expectations indicated that this season is expected to witness a turnout of consumers greater than two years. The last two given the continuous improvement in the income level of citizens.


Al-Arabi added that the General Federation of Chambers of Commerce will form an operations room to follow up the markets and receive reports from the chambers of commerce in the governorates about the number of participants and the extent of commitment to the actual reductions on all products, noting that the Chambers of Commerce spares no effort in launching initiatives or participating in any initiatives that may contribute to stimulating trade movement The Ministry of Interior or reducing the burden on citizens by providing facilities or offers to reduce prices.


The Abu Dhabi Stock Exchange loses 5.5 billion dirhams due to the downward pressure of the Abu Dhabi Energy and Aldar shares

The general index of the Abu Dhabi Securities Market, at the conclusion of the trading session on Thursday, the end of the week’s sessions, decreased by 0.35%, losing 20.07 points to close at 5641.77 points, and the market capital lost about 5.5 billion dirhams to close at 794.038 billion dirhams, and the trading volume reached 90.2 million Shares, worth 452 million dirhams, through the implementation of 2577 transactions.


Seven sectors fell on the Abu Dhabi Stock Exchange, led by the real estate sector by 1.95%, followed by the energy sector by 1.09%, followed by the telecommunications sector by 0.60%, then the services sector by 0.27%, then the insurance sector by 0.24%, then the investment and financial services sector by 0.08%. Then the banking sector increased by 0.03%, while the industrial sector increased by 0.82%.


And 11 stocks rose on the Abu Dhabi Stock Exchange, led by "Abu Dhabi National Takaful Company" by 9.78%, then "National Foodco Company for Foodstuffs" by 7.35%, then shares in "Z Stores Company" by 4.6%, and 11 stocks declined, led by the share of the company. National Takaful "by 5%, then the share of" Abu Dhabi National Energy Company "by 2.03%, then the share of" Aldar Real Estate Company "by 1.96%, while the share of" First Abu Dhabi Bank "topped the list of the most active by value, amounting to 130.2 million dirhams.


Muscat Securities Market fell

The Muscat Securities Market retreated at the end of the trading session on Thursday, the end of the week’s sessions, for the fifth session in a row, as the MSM index (30) fell by 0.300%, losing 11,039 points to close at 3649.124 points, and trading volume reached 10 million shares worth 1.7 million. SAR through executing 506 transactions for 37 shares.


Eleven stocks rose, topped by "Galfar Engineering and Contracting" by 4%, then "Sembcorp Salalah" by 2.11%, then "Al Suwadi Energy" by 2%, while 9 stocks fell, led by "National Bank of Oman" by 6.02% Then the share of "Oman Arab Bank" by 4.62%, then the share of "Gulf International Chemicals" by 2.83%, while the share of "Bank Muscat" topped the list of the most active by value amounting to 757.9 thousand Omani riyals.


In a related context, the Muscat Securities Market announced the listing of the shares of the Alizz Islamic Bank’s capital increase, in the third market after the number of shares increased from 1.320 billion shares to 1.395 billion shares with 75 million shares.


Rising gold and silver prices

The price of an ounce of silver in spot contracts jumped today, Thursday, by 5% to $ 26.49 an ounce, as well as the price of an ounce of gold in the same contracts rose by 1% to $ 1861.96. The best seller in Egypt, but there are expectations for a decline in gold with the opening of trading at one in the afternoon, and the decline may be worth one or two pounds.

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