Conditions for benefiting from the “customs exemption”, “increasing interest” and a new rise in the “gold pound” .. the most prominent in the Egyptian Thursday newspapers

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The Egyptian newspapers issued this morning, Thursday, dealt with a number of important news, presented by "Emirates Today" as follows:

The Egyptian Ministry of Finance announced the conditions that must be met to benefit from the draft law on importing cars for Egyptian expatriates residing abroad as soon as it is approved by the House of Representatives and its issuance.

The ministry stipulated that there be a bank account in the country in which the expatriate resides, and it has been opened and the balance to be transferred at least 3 months before the date of the issuance of the law on importing cars for Egyptian expatriates, which is currently being discussed by the House of Representatives.

The vehicle to be imported into Egypt must also be from the same country in which the expatriate resides;

To benefit from the benefits and facilities included in the law for Egyptians residing abroad, by exempting their cars from taxes and customs upon entering the country.

• Today's Newspaper

The Central Bank raises the interest rate by 2% during an exceptional meeting

The Monetary Policy Committee of the Central Bank of Egypt decided, in an extraordinary meeting today, to raise the interest rate on the pound by 200 basis points.

The central bank said in a statement that it was decided to raise the overnight deposit and lending rates and the central bank’s main operation rate by 200 basis points to reach 13.25%, 14.25% and 13.75%, respectively.

The Monetary Policy Committee of the Central Bank of Egypt added, and the credit and discount rate was raised by 200 basis points to reach 13.75%.

• The Seventh Day newspaper

The Prime Minister: Raising the minimum wage from 2,700 pounds to 3000 pounds

Egyptian Prime Minister Mostafa Madbouly said that, based on the President's assignments to develop a social protection package for citizens and taking into account the current circumstances, the Council discussed and approved this package.

And he added in a press conference, that the Cabinet decided to raise the minimum wage from 2,700 pounds to 3,000 pounds, while continuing not to increase electricity until June 30, 2023, and approving an exceptional allowance to confront the cost of living at a value of 300 pounds for all state workers.

• Al-Masry Al-Youm newspaper

- The time is right to sell.. a new jump in the price of the gold pound

The gold pound rose about 90 pounds, at the beginning of morning trading today, Thursday, October 27, 2022, compared to its price yesterday, Wednesday, and this makes there a good opportunity to sell and achieve a large margin of profit.

The price of the gold pound in the Egyptian pound was 21 karat: 8,785.2, while its price in dollars was: 445.88.

The price of a pound of gold 8 caliber 22 in the Egyptian pound was 9,203.57, while its price in dollars was: 467.11, and the price of a pound of gold 8 c of 24 carat was in the Egyptian pound: 10,040.26, while its price in dollars was: 509.58.

• Al-Shorouk newspaper

- Cabinet: The volume of Emirati capital in Egypt exceeds $17 billion

The spokesman for the Egyptian Cabinet, Ambassador Nader Saad, said that the volume of Emirati capital in Egypt exceeds 17 billion dollars.

He added, during a telephone interview with the "Happening in Egypt" program presented by the journalist Sherif Amer on the "mbc Egypt" screen, that Egyptian investments in the UAE amount to four billion dollars.

He pointed out that Emirati investments occupy the first place among Arab and foreign companies in Egypt, noting that the relations between Egypt and the UAE cannot be reduced to the economy, stressing that these relations represent a model in the relations between two countries.

He pointed out that it is rare to find two countries that share relations that were characterized by this degree of compatibility and agreement, commenting: "We are confused about which relations are stronger, whether popular or governmental."

• Al-Watan Newspaper

Sharm El-Sheikh completes the construction of the first station for charging electric buses in the Middle East

The Governor of South Sinai, Major General Khaled Fouda, announced the completion of the first electric bus charging station in Egypt and the Middle East in Sharm El-Sheikh, explaining that the station is ready to open after completing the electricity cables and chargers.

In an exclusive statement to Al-Watan, the governor said that the city received 260 buses before the climate summit, explaining that the buses are environmentally friendly and 100% Egyptian, and that the visual identity was installed on the buses.

• Masrawy site

The Central Bank: the complete cancellation of documentary credits next December

The Central Bank of Egypt decided to gradually cancel the instructions issued on February 13, 2022, regarding the use of documentary credits in import financing operations, noting that the complete cancellation will be in December 2022.

The Central Bank clarified in a statement today that the decision is an incentive to support economic activity in the medium term.

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