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Economic news today, Tuesday ... the stock exchange profits 3.3 billion pounds


Today, Tuesday, May 4, 2021, the seventh day has published a number of important economic events, perhaps the most prominent of which is the Egyptian Stock Exchange achieving rises and profits of 3.3 billion pounds. The following is a review of the most important news.


The Egyptian Stock Exchange profit of 3.3 billion pounds

 

The Egyptian Stock Exchange indices varied, at the end of today's session, Tuesday, midway through the first session of the month of May, as the main index declined marginally under pressure from leading stocks, while the EGX70 and EGX 100 indices rose, amid local sales, gaining market capital of EGP 3.3 billion. To close at 653.982 billion pounds.


The "EGX 30" index declined by 0.09%, to close at 10465 points, the "EGX 50" index rose 0.58% to close at 2054 points, and the EGX 30 index of weighted weight decreased by 0.14% to close at 12686 points. And the EGX 30 overall return index increased by 0.74%, to close at 4075 points.


The index of small and medium-sized companies "EGX 70 is equal weights" increased by 2.06% to close at 2101 points, and the "EGX 100 is equal weights" index rose by 1.35% to close at 3014 points.


The government expects $ 7.4 billion in foreign investment in the 2021/2022 fiscal year


Hala Al-Saeed, Minister of Planning and Economic Development, discussed today the main features of the 2022/21 plan of the medium-term sustainable development plan (2019/18 - 2022/21) at the Senate Financial, Economic and Investment Affairs Committee.


Al-Saeed predicted that with the start of the gradual recovery of the tourism sector, it is expected that we will reach 6 billion dollars in tourism income in 2021/2022 and 6 billion dollars for the Suez Canal, in addition to increasing foreign investment rates to 7.4 billion dollars in the 2021/2022 plan year.



Dr. Hala Al-Saeed, Minister of Planning and Economic Development, dealt with the recent development of growth rates, pointing to the starting stage from 2005/06 to 2008/2009, confirming the achievement of good growth rates during that period, after which it decreased following the global financial crisis in 2008, following up on the political and security developments. In 2010-2011, the growth rate decreased to 1.8% to begin the consolidation phase of the state in the period between 2015 to 2016/2017 and then the economic reform program in 2016 until the growth rate reached 5.6%, and the Corona pandemic came, which led to a decrease in the growth rate to 3.6% for the year the past.


The Minister of Housing is inspecting the "New Garden City" and the government district in the Administrative Capital

 


Dr. Assem Al-Jazzar, Minister of Housing, Utilities and Urban Communities, during his tour of the New Administrative Capital, inspected the executive position of the works in the fifth residential neighborhood, "New Garden City", and the implementation of the utility works in the government district, accompanied by officials of the Ministry and the New Urban Communities Authority.


The Minister of Housing indicated that the fifth residential district, "New Garden City", has an area of ​​885 acres, and includes 385 residential buildings with about 21,494 housing units, 513 commercial units, and 456 connected, semi-connected and separate villas, and the neighborhood includes all educational, entertainment, commercial, sports and religious services. A different architectural design was adopted in this neighborhood, inspired by the old French style, to resemble the architectural designs executed in Garden City and Downtown Cairo.



The minister and his companions also inspected the government district, and the infrastructure works that are being implemented for the entire neighborhood, which are being completed, in preparation for the proximity of employees to move to the ministerial headquarters in the government district in the new administrative capital.


Al Sharqiya Tobacco: Egyptians consumed more than 50 billion cigarettes in 9 months


The Eastern Company announced the results of the unaudited third quarter business that ended on March 31, 2021, and the company achieved revenues (including value added taxes) of 48.5 billion pounds for the nine-month period ending on March 31, 2021, compared to 42.7 billion pounds during During the comparison period, the domestic sales volumes of the main brands of the company increased by 4.7%, to record 50.8 billion cigars, compared to 47.2 billion cigarettes in the comparison period.


 

The company also recorded, according to its statement to the Egyptian Stock Exchange, net income for the period by 12.1 billion pounds compared to 11.3 billion pounds for the same period of the previous year, an increase of 7%, and the total profit recorded 5.14 billion pounds for the nine-month period ending on March 31, 2021. With an annual increase of 11%, the gross profit margin for the period reached 42%, and operating profits rose by 17%, on the basis of 9 months compared to the corresponding period of the previous year, to reach 4.49 billion pounds.



For the same period, the Eastern Company recorded a net profit of 3.89 billion pounds for the nine-month period ending on March 31, 2021, an increase of 24% compared to the corresponding period of the previous year, so that the net profit for the 6 months of the current fiscal year exceeded what was achieved during the full 12 months of The previous year, an increase of 2.5%.

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