A non-oil economy

Cairo – Mubasher: Gold prices on the world stock market fell 1.5 percent, at a value of $ 36, during trading in the week ending yesterday afternoon, Friday, which was affected by reducing expectations of a cut early in US interest rates.

Saeed Embabi, CEO of the “iSagha” platform for online gold and jewelry trading, said that gold prices in the local markets saw a state of stability during today’s business, and compared to the end of the business -what, until there was a gram price. of 21 carat gold registered a level of 3090 pounds, at the same time as the weekend On the world stock market, after the ounce closed yesterday afternoon at a level of $ 2,301, according to a press release today, Saturday.

Ebabi said that a gram of 24 karat gold recorded 3,532 pounds, a gram of 18 karat gold recorded 2,649 pounds, and a gram of 14 karat gold recorded about 2,060 pounds, and a pound of gold recorded about 24,720 pounds.

Gold prices rose by 5 pounds during trading yesterday, Friday, as the price of a gram of 21 karat gold opened transactions at the level of 3085 pounds, and transactions ended at the level of 3090 pounds, and an ounce fell by 4 dollars, as transactions opened at the level of 2305 dollars, and concluded that Transactions are at the level of $2301.

In a related context, gold strengthened at the end of the week’s trading yesterday, Friday, after the release of US jobs data, which again raised hopes for an early cut in interest rates, to avoid the US economy to a state of decline. .

The markets had lowered expectations for lower interest rates this year, following the US Federal Reserve’s decision to stabilize them, as well as Jerome Powell’s statements.

The US jobs report revealed a decline in the pace of hiring in April, as well as an increase in the unemployment rate, with average hourly wages declining annually and monthly.

He said the American economy added 175,000 jobs in the private sector in April, while experts expected the non-agricultural private sector to add 238,000 jobs as well as 167,000 jobs in April.

While the US unemployment rate was 3.9 percent in April, average monthly hourly wages were 0.2 percent in April, and year-over-year, average wages were 3.9 percent.

To trade and invest in the Egyptian Stock Exchange, click here

Follow the latest stock and economic news through our Telegram channel

Nominations

After the Fitch Finance report: The Egyptian economy has begun to regain the confidence of international rating institutions

Egyptian Government: Stable tax policies create an attractive environment for foreign investment

Fitch revises its outlook for the Egyptian economy to positive

S&P raises Turkey’s sovereign rating to “B+”.

Riyadh – Mubasher: An extraordinary general assembly of shareholders of the Saudi Paper Manufacturing Company (Paper Industry), approved at their meeting on Thursday, April 25 2024Profits for the third quarter of 2023, and capital increase by issuing bonus shares.

The company explained, in a statement on “Tadawul” Today, Sunday, the proposal of the Board of Directors was approved for the distribution of cash shares worth 16.85 million rubles, at 0.50 rupees per share..

Eligibility for shares will be for shareholders who have shares at the close of trading on the day of the General Meeting, and who are registered in the company’s shareholder register at the Securities Investment Center Company (Investment Center) at the end of the second day trade after due date..

Difidid distribution will begin on Thursday, May 9, 2024.

During the meeting, the Senate also approved the proposal of the Board of Directors to increase the company’s capital by 10%, from 337 million rubles, to 370.7 million rubles..

The company said that the nominal value of the capital before the increase was 337 million rubles, and that the nominal value of the capital after the increase was 370.7 million rubles. The total amount of the capital increase reached 33.7 million rubles.

The Paper Industry explained that the capital increase will be financed by taking part of the retained earnings balance in the amount of 33.7 million rubles..

She said that the capital increase aims to support the capital base, which will contribute to increasing future growth plans and increasing the total return for shareholders..

The right to increase the capital will be for shareholders who have shares at the end of trading on the day of the extraordinary general meeting and who are registered in the company’s shareholder register with the Edaa Securities Center Company (Investment Center) at end of the second trading day after the date of the Extraordinary General Meeting..

The Senate’s agenda included approval of the Board of Directors’ proposal to transfer the full balance of the statutory reserve in the amount of 15.34 million pounds as stated in the financial statements ending on 31 December. 2023m to retained earnings.

It was agreed to elect the members of the Board of Directors from among the candidates for the next session and to pay 1.97 million rubles as a reward to the members of the Board of Directors and its committees that will come from the fiscal year ending in 2023 AD , by the way. to the rest of the items on the menu..

The Saudi Tadawul announced that the variable rate for the stock of Saudi Paper Manufacturing Company was calculated at a price of 71.00 rupees, in today’s session, Sunday, and cancel existing orders, while The Securities Investment Center Company (Edaa) will add the bonus shares to the shareholders’ portfolios before trading begins on Tuesday 30. April 2024.

For trading and investing in Gulf stock exchanges Click here

Follow the latest stock and economic news through our Telegram channel

Nominations:

Aramco and Rongsheng discuss new investment opportunities in the Kingdom and China

Finance makes changes to the operating rules of the government’s competition and procurement system

Riyadh Municipality takes strong measures after monitoring incidents of food poisoning caused by a commercial establishment