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Al-Ahli Bank and Bank of Egypt offer dollar certificates with 7% returns and loans to Egyptians abroad.

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Al-Ahli Bank and Bank of Egypt offer dollar certificates with 7% returns and loans to Egyptians abroad.

Today, Tuesday, Egypt’s two largest state-owned banks are issuing two new three-year savings certificates in US dollars amid a crisis of dollar shortages.

Ahli Bank

The National Bank of Egypt issued two new certificates of savings denominated in US dollars for a period of three years.
According to the bank’s statement, the first dollar certificate “Al-Ahly Plus” has a duration of 3 years, an annual return of 7%, and the income is spent quarterly in the same currency, and it is allowed to borrow up to 50% of Egyptian pounds against its guarantee for investment purposes, up to a maximum of 2 million pounds. Result ratio.

The term of the second dollar certificate, “Al-Ahli Instant”, is 3 years at an annual rate of return of 9%, which is paid in advance in an amount equal to Egyptian pounds for the entire period, 27% of the value of the certificate for the entire period of the certificate.

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Certificates are in denominations of $1,000 and multiples thereof, and earnings are calculated as of the business day following the day of purchase. Certificates can be redeemed after the expiry of 6 months from the date of purchase as per the applicable rules and the notified redemption schedule.
On Wednesday, July 26, 2023, certificates can be purchased through all bank branches or through Al-Ahly Net and Al-Ahly Mobile, and through the official website using credit cards not issued in Egypt. Customers of the bank residing abroad who do not have an account in foreign currency can open the required amount in foreign currency for purchase of certificates.
For non-banking customers, they can also purchase through instructions with bank transfers indicating their national number and the product to be purchased.

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Bank of Egypt
For its part, Bank Misr announced the introduction of “Al-Khimma” and “Elite” savings certificates in USD for 3 years, which will be implemented in its branches from Wednesday, July 26, 2023.
A “top” certificate with an annual return of 9% is a nominal certificate issued to Egyptians and foreigners. Repayments will be paid in advance over three years, at a cumulative rate of 27% in Egyptian pounds. The “Elite” certificate is a nominal certificate issued to Egyptians and foreigners, with an annual return of 7%, and quarterly returns are paid in US dollars.

Date

The issue date of the certificate starts from the working day following the deposit and is considered as the basis for withdrawal and refund in accordance with the terms and conditions governing it.Elite certificate holders can borrow up to 50% of the redemption value of the certificate in Egyptian pounds, up to a maximum of 10 million pounds.
Certificates can be purchased through the bank’s website, internet, mobile banking BM Online, bank branches inside and outside Egypt and ATM network. Certificates can be redeemed even after lapse of 6 months as per the unique redemption rules applicable to those certificates.

The Central Bank of Egypt reserves the right to transfer refunds and withdrawals in accordance with the rules governing certificates to a client’s account outside Egypt, exempt from certain account fees and without a maximum transfer limit.

Loans

As for loans with salary guarantee for Egyptians working abroad, on July 26, 2023, the National Bank of Egypt issued a personal loan with a foreign currency exchange guarantee on July 26, 2023, with a minimum loan amount of 50 thousand pounds and a maximum of 3 million pounds. , the loan installments are paid by issuing foreign currencies according to the exchange rate announced at the time of payment, at an interest rate of 2.25% lower than the lending rate of the Central Bank of Egypt at the time of obtaining the loan, for up to 4 years, with the application of all conditions and guarantees and without any administrative costs. The customer signs at any of the bank’s branches, with additional channels to be announced soon.

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Finance

Bank Misr recently launched personal loan and real estate financing products for Egyptians working abroad, as part of the bank’s ongoing effort to provide benefits to its various products to suit their needs. This will allow for the expansion of real estate financing subsidies, which will finance Egyptians working abroad to purchase housing units within their home country, encouraging them to invest their savings in the real estate sector.

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Mortgage loan product Bank Misr also offers a personal loan product for Egyptians working abroad, with the largest financing rate of 80% for all existing housing categories, and a long repayment period of up to 15 years.

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Economy

UAE stocks add 342 billion dirhams to its market capitalization in 9 months

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UAE stocks add 342 billion dirhams to its market capitalization in 9 months

Local stock exchanges added about 342 billion dirhams to their market capitalization in the first nine months of this year, supported by increased demand from companies and investment portfolios, with new listings based on data from the Abu Dhabi Securities Market and the Dubai Financial Market. .

Markets’ market value was boosted by four new listings in the current year, including “ADNOC Gas”, “Brissite” for artificial intelligence solutions and “ADNOC Logistics and Services” on the Abu Dhabi market. Shares of “Al Ansari” Financial Services on the Dubai Financial Market.

The market capitalization of listed stocks rose from 3.206 trillion dirhams at the end of last year to 3.548 trillion dirhams in the last session of last September, with 2.852 trillion dirhams distributed to stocks listed on the Abu Dhabi Securities Market and 696.6 billion dirhams to stocks listed on the Dubai Financial Market.

Local stocks attracted more than 321.6 billion dirhams of liquidity in the first nine months of the year, with 243.9 billion dirhams distributed on the Abu Dhabi Securities Market and 77.6 billion dirhams on the Dubai Financial Market, while around 87.2 billion shares were traded, of which 44.66. billion shares were traded.42.6 billion shares in the Abu Dhabi market by executing more than four million transactions in the two markets in Dubai.

The Abu Dhabi market index “Fadex 15” ended last September at 9496.03 points, while the “FTSE” Abu Dhabi General Market Index (Fadji) ended at 9785.32 points and the real estate index rose. 31.6%, consumer goods about 15.6%, and healthcare 7.1%, energy 3.6% and services 2.7%.

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Shares of “Abu Dhabi National Hotels” made the biggest gains on the Abu Dhabi market since the start of the year, rising 161%, followed by “Buildco” with gains of 85.2%, and shares of “ADNOC Drilling” with 34.9%, and “Aldar Properties” with 30%, and “ADNOC Gas” 23.8%, “Abu Dhabi Islamic” 23.6%, “ADNOC Logistics” 16.6%, “Abu Dhabi Ports” 12.4%, “Yahsat” 7.2%, and “Boroj” 6.1%.

“International Holding” has the largest share of the trade, attracting more than 65.6 billion dirhams in cash flow, followed by “Alpha Tabi” with about 22.1 billion dirhams, then “Multiplay” with 17.7 billion dirhams, “First Abu Dhabi” with 10.7 billion dirhams, and “Altar” with 9.1 billion dirhams. billion dirhams.

The Dubai Public Market Index rose 24.8% or the equivalent of 827.5 points in the first nine months of this year, jumping from 3336.07 points at the end of last year to reach 4165.58 points in the last September sessions. The real estate sector index was up 40.9%, industrials 30%, financials 22%, and services 16.1%, their highest levels in more than eight years.

The performance of the Dubai market improved with “Emaar Properties” shares rising 37.2%, “Emirates NBD” 36.9%, “DEWA” 10.3%, “Emaar Development” 58.7% and “TECOM” shares 21.8%. %, and “Air Arabia” 30.7%. %, “SALIC” 33.5%, “Dubai Investments” 13.8%, “Empower” 33.1%, “Dubai Financial Market” 5.3%, and “Dubai Islamic” 2.6%, while “Gulf Navigation” posted strong gains of over 974%. “Ajman Bank” also achieved 91.5%.

“Emaar Properties” has the largest share of the trade, attracting about 16.2 billion dirhams, “Emirates NBD” 9.07 billion dirhams, “Ajman Bank” 5.68 billion dirhams, “Dubai Islamic” 5.5 billion dirhams and “Deva” 4.98 billion. billion dirhams.

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• 4 new listings in the current year including “ADNOC Gas”, “Brissite”, “ADNOC Logistics and Services” and “Al Ansari”.

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Emirates News Agency – UAE stocks have added 342 billion dirhams to their market capitalization in less than 9 months.

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Emirates News Agency – UAE stocks have added 342 billion dirhams to their market capitalization in less than 9 months.

By: Rami Samy.

ABU DHABI, 30 September / WAM / Local stock markets added 342 billion dirhams to their market capitalization in the first nine months of this year, driven by increased demand from companies and investment portfolios, and new listings based on data from the Abu Dhabi Securities Market and the Dubai Financial Market.

Markets’ market value was boosted by four new listings in the current year, including “ADNOC Gas”, “Brissite” for artificial intelligence solutions and “ADNOC Logistics and Services” on the Abu Dhabi market. Shares of “Al Ansari” Financial Services on the Dubai Financial Market.

The market capitalization of listed shares rose from 3.206 trillion dirhams at the end of last year to 3.548 trillion dirhams in the last sessions of this September, with 2.852 trillion dirhams distributed to listed shares and 696.6 billion listed shares on the Abu Dhabi Securities Market. In the Dubai Financial Market.

Local stocks attracted more than 321.6 billion dirhams in liquidity in the first nine months of the year, with 243.9 billion dirhams distributed on the Abu Dhabi Securities Market and 77.6 billion dirhams on the Dubai Financial Market, while around 87.2 billion shares were traded, including 44.6 billion shares. 42.6 billion shares in the Dubai Financial Market in Abu Dhabi and the Dubai market, by executing more than 4 million transactions in the two markets.

– Abu Dhabi Market.

The Abu Dhabi Market Index “Fadex 15” ended this September with 9496.03 points, while the FTSE Abu Dhabi General Market Index “Fadji” gained 9785.32 points and the real estate index rose 31.6. %, consumer goods around 15.6%, healthcare 7.1%, energy 3.6% and services 2.7%.

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Shares of “Abu Dhabi National Hotels” achieved the biggest gain in the Abu Dhabi market since the beginning of the year, rising 161%, followed by “Buildco” with gains of 85.2%. “ADNOC Drilling” shares another 34.9%, “Aldar Properties” 30%, and “ADNOC Gas”. “23.8%, “Abu Dhabi Islamic” 23.6%, “ADNOC Logistics” 16.6%, “Abu Dhabi Ports” 12.4%, “Yahsat” 7.2%, and “Boroj” 6.1%.

“International Holding” has the largest share of the trade, attracting more than 65.6 billion dirhams in cash flow, followed by “Al-Dhabi” with about 22.1 billion dirhams, then “Multiplay” with 17.7 billion dirhams, “First Abu Dhabi” with 10.7 billion dirhams and “Aldar” with 9.1 billion dirhams. .

– Dubai market.

In the first nine months of this year, the Dubai General Market Index rose 24.8% or the equivalent of 827.5 points, from 3,336.07 points at the end of last year to 4,165.58 points in the last September sessions. Its highest levels in more than 8 years, with the index rising, real estate sector 40.9%, industrials 30%, financials 22% and services 16.1%.

The performance of the Dubai market improved with “Emaar Properties” shares rising 37.2%, “Emirates NBD” 36.9%, “Dewa” 10.3%, “Emaar Development” 58.7% and “TECOM” shares 21.8%. %, “Air Arabia” 30.7%, and “SALIC”. Stronger than “33.5%, “Dubai Investments” 13.8%, “Empower” 33.1%, “Dubai Financial Market” 5.3%, “Dubai Islamic” 2.6%, while “Gulf Navigation” 974% and “Ajman Bank” 91.5% Profit was achieved.

“Emaar Properties” accounted for the largest share of the trade, attracting about 16.2 billion dirhams, “Emirates NBD” 9.07 billion dirhams, “Ajman Bank” 5.68 billion dirhams, “Dubai Islamic” 5.5 billion dirhams and “Deva” 4.98 billion in liquidity. Dirham.

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Ahmad al-Boutli/Rami Samih

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4 new AI tools you can use to edit photos on Instagram

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4 new AI tools you can use to edit photos on Instagram
As part of Meta’s Connect conference last Wednesday, Mark Zuckerberg revealed several creative AI features that will be useful for some content creators and influencers. For example, users will be able to use Meta’s AI technology, revealed as Emu. In the Instagram app.


Zuckerberg said Meta will begin rolling out these photo-editing and generative AI tools to Instagram “in about a month,” and Meta’s Emu technology will take seconds to generate images, Zuckerberg said during the Connect conference.


In addition to photo editing tools, Meta is already releasing AI stickers that use Emu and Llama 2 technology, and advanced applications of AI will soon appear in Meta apps in the form of chatbots or AI-powered assistants. Meta will begin testing the beta feature immediately.


Here’s a full rundown of the new AI features Meta brings to Instagram:


– New photo editing tools in the Instagram app:


Like many apps and generative AI filters that are ubiquitous on TikTok, Instagram is adopting its own generative AI tools. Users can also edit photos by “re-styling”, which changes the artistic style of the photo, similar to altering the photo. A watercolor, or “background,” that allows users to replace the background of the image with an illustration.


Any image edited using these tools “represents the use of artificial intelligence,” Mitta wrote in a blog post.


– AI-generated stickers for use in direct messages:


Instead of sticking with Instagram’s existing preloaded stickers or emojis, Meta is rolling out a new tool that lets users create unique stickers using AI. Meta wrote in his blog post that the feature will be rolling out to “select English users next month.”

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AI stickers are also available in Instagram features like Live Messages and Stories, and other apps like WhatsApp, Messenger and Facebook’s Stories feature.


– Interactive AI bots – or characters:


In addition to its general AI assistant called “Meta AI,” Meta is working with celebrities and influencers to develop 28 AI chatbots. The first cast uses celebrities and popular influencers like Tom Brady and Kendall Jenner. MrBeast, LaurDIY, and Charli D. Amelio and the AI ​​characters will have their own profiles on Instagram and Facebook.



– Creators will be able to build their own robots in the future:


“We’re building a platform to build AI that can help you do things or have fun,” Zuckerberg said. “The way it works is that people can interact with these AI systems across the entire product universe. .”


Zuckerberg pitched these AI bots as a potential way for creators to “engage” with their communities. The creator of these bots should be “authorized” and “directly controlled,” Meta wrote in a blog post. Already, many startups have released AI tools. Similar applications allow creators to create AI versions such as Afterparty or Render Media.

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