Gold prices in Egypt collectively decline during mid-session on Monday
Arab Finance: The gold prices in Egypt recorded a collective fall on Monday, with the 24-karat recording to EGP 5,474.25 per gram for purchasing and EGP 5,497.25 for selling during the mid-session, iSagha's data revealed.
The 22-karat gold price also retreated to EGP 5,018 for buying and EGP 5,039 per gram for selling.
As for the 21-karat gold, the price hit EGP 4,790 per gram for purchasing and EGP 4,810 for selling.
The 18-karat gold price amounted to EGP 4,105.75 per gram for buying and EGP 4,122.75 for selling.
The gold pound's price stood at EGP 38,320 for purchasing and EGP 38,480 for selling.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Crypto Insight
4 hours ago
- Crypto Insight
Crystal Intelligence shares top insights from the frontlines of the battle against crypto scams
Ensuring top-notch cybersecurity is an essential necessity for businesses to set up shop in the modern business world, and the crypto industry is no exception. Similar to their Web2 counterparts, the crypto landscape fights its own battle against the ever-increasing scams and other security risks. Straightforward scams have transformed into complex, multi-layered operations that pose significant challenges to organizations. As illicit activities become more difficult to crack, the business world dealing with cryptocurrencies is increasingly seeking advanced intelligence and analytics. Crystal Intelligence, a blockchain analytics firm, addresses this need by uncovering hidden patterns in blockchain transactions. The company provides tools that help businesses detect and prevent illicit activities, identify high-risk entities and comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. By enhancing transparency and security, Crystal Intelligence aims to keep institutions ahead of evolving crypto threats. Leveraging a team of analysts fluent in many regional languages across the Middle East, North Africa and Asia-Pacific, Crystal Intelligence offers insights that are both globally comprehensive and locally precise. This regional expertise helps clients understand on-the-ground risks and regulatory frameworks, enabling them to operate in complex jurisdictions and effectively mitigate region-specific threats. In this interview, Crysta Intelligencel's lead investigator Andrii Sovershyenni and senior investigator Federico Paesano share key insights into the tricky landscape that crypto businesses must navigate and how to be better prepared against crypto scams and frauds. Cointelegraph: Can you tell us about Crystal Intelligence and its mission in the blockchain and crypto space? Federico Paesano: Crystal Intelligence helps organizations understand and manage cryptocurrency through advanced blockchain analytics and compliance solutions. Our tools allow for real-time tracking, risk assessment, and detailed analysis of crypto transactions. This makes us an essential partner for compliance professionals, regulators, and investigators in the crypto field. We also provide training programs. These programs teach clients best practices in the crypto world and equip law enforcement and private sector teams with the skills they need to trace crypto assets. CT: Crypto scams have evolved significantly over the years. What trends or types of scams have you seen rise the most recently? FP: The way criminals use cryptocurrency has changed a lot over the years. They have become more skilled and now use new technologies to avoid being caught. Let's look at the latest changes in this area and see how they have developed. In the past, scammers used simple tactics to hide their activities. They sent Bitcoin (BTC) through multiple addresses to cash out anonymously via exchanges like BTC-e. However, as regulations became stricter and investigators improved their skills, these basic methods became less effective. The rise of KYC policies and the growing cooperation between centralized exchanges and law enforcement made it much harder for bad actors to cash out without leaving a trace. In response, crypto criminals are changing their tactics. They are using more complex methods that take advantage of new products and services in the blockchain space. Swaps, token bridges and decentralized finance (DeFi) protocols have become the tools of choice for criminals seeking to cover their tracks. Scammers and thieves use these technologies to exchange tokens across different blockchains without going through centralized platforms that require identity checks or interaction with authorities. They take advantage of decentralized exchanges (DEXs) and smart contracts to move funds across multiple blockchains quickly, without the oversight that regular exchanges offer. This makes it harder to track illegal activities. Every day we work with law enforcement agencies around the world. They focus on staying updated on new developments, adjusting to changes, and using the latest tools to track and reveal hidden activities. CT: Can you walk us through a scenario where your technology helped identify or prevent a scam? FP: Acting quickly is crucial in every financial investigation. This is especially so when dealing with cryptocurrencies. The difference between stopping a scam and losing money may be mere minutes. This is where Crysta Intelligence's real-time blockchain analytics can help. Our technology tracks and analyzes crypto transactions as they occur, allowing you to spot illegal activity before it's too late. Big news! Crystal is highly commended at the 2024 Regulation Asia Awards for Best #Blockchain Analytics & Investigations Solution! 🎉 Discover how we're advancing blockchain #compliance & #frauddetection: — Crystal Intelligence (@CrystalPlatform) November 5, 2024 We can quickly label suspicious addresses and entities. Our intelligence team identifies addresses linked to crimes like theft, scams, and hacks, and categorizes them within minutes. This fast response is very important. For example, if stolen funds are sent to a cryptocurrency exchange to be cashed out or exchanged for other tokens, our advanced monitoring tools alert the exchange's compliance team as soon as the funds arrive. They can then take action against the illegal source of the funds. In some cases, this alert can help slow down the flow of stolen funds and may even stop criminals from accessing or laundering the money further. We have many cases where we have been asked to help with investigations. When criminals tried to move funds through multiple digital wallets, our expert investigators noticed unusual patterns. They traced the funds and sent out immediate warnings. Often the exchanges involved will work with us to freeze the funds, and block criminals from cashing out, allowing law enforcement to follow the trail of the stolen assets. CT: How does Crystal Intelligence help law enforcement in crypto-related investigations? Are there any notable cases where your team played a key role? FP: When law enforcement investigates crime proceeds in blockchains, several key factors can determine the success of their work. First, it is essential that the tools are easy to use. A powerful tool is not helpful if it confuses investigators with too much complexity or information. Crystal Intelligence has spent a lot of time improving its user interface to ensure even advanced features are easy to navigate. The graphs and visualizations help investigators see complex crypto transaction patterns clearly without being hard to read. This clarity is crucial in fast-paced situations where every moment matters. Second, attribution data is vital to connecting crypto addresses to individuals or organizations. Crystal Intelligence helps law enforcement establish these links by showing relationships between addresses, transactions, and known entities. This then lets investigators follow the money and contact relevant institutions or people. Compliance teams also benefit from this data, as it helps them assess risks in customer transactions and spot potential criminal activity. Finally, the reliability of the data is critical. Crystal's Intelligence Team works very hard to verify data and gather evidence for accurate attribution and risk scores. This is important as law enforcement agencies must be able to trust the data to act effectively, whether it's freezing assets or pursuing further investigations. CT: Blockchain technology is often praised for its transparency, but scams still occur. What are the challenges in identifying and preventing fraudulent transactions on the blockchain? Andrii Sovershennyi: The largest issue we face is speed. Collecting information about fraud is quite straightforward, but doing it quickly can be challenging. Blockchain payments are faster than traditional payments. With quick confirmation times, an attacker can receive payment and convert funds very quickly, leaving little time for anyone to act proactively. At Crystal Intelligence, we are constantly working to speed up how we collect and use labels in our system to help our clients. This challenge gets harder with fraud, as victims often only realize they have been defrauded much later, and they may never get their money back. That's why it is important to raise awareness about common types of fraud and support trustworthy businesses. CT: Looking ahead, what do you think the future holds for blockchain security? Are there any emerging threats on the horizon that we should be aware of? AS: Blockchain security can be very challenging. Many people, including myself, believe that keeping your own crypto instead of relying on exchanges is safer. However, it can be risky if you lose your private key or if it gets stolen. It's difficult to comment on emerging threats. But the general rule is that criminals innovate constantly. Attackers are becoming more skilled and have pulled off impressive heists against well-protected targets. Many of these attacks use social engineering, like impersonating customer service, and modern AI tools can help them create convincing fake voices, images, and videos. I think the focus on security will shift from technology to laws and regulations. Services will need to prove that they take security seriously, and there may be specific rules about how they handle custody. CT: Finally, what advice would you give to crypto investors or businesses to better protect themselves from falling victim to scams? AS: Many factors are involved when businesses want to work with cryptocurrency. To start, they should follow the recommendations in open standards like the Cryptocurrency Security Standard (CCSS). This standard offers good policies and guidance. There are also many firms that can help businesses create and apply the necessary security measures. For consumers, it's best to choose a licensed and regulated cryptocurrency exchange. Instead of just looking for the 'best cryptocurrency exchange near me', check the list of authorized firms from national financial regulators. While this doesn't guarantee safety, being regulated means these firms must follow certain rules. Additionally, you can visit the International Organisation of Security Commissions (IOSCO) to find information on investor protection. They have a list of services that warn about potential issues. Their site also has many valuable free resources for learning about investments, which can help you assess the opportunities you come across. Crystal Intelligence's website provides a wide range of resources for victims of cryptocurrency scams and helps businesses improve their security through education and awareness. Source:
Zawya
a day ago
- Zawya
Sakan Developments announces a strategic partnership with AEMP
A strategic collaboration between Sakan Developments and AEMP to produce documentary and promotional content reflects the excellence of its latest project in Shorouk Sakan Developments selects AEMP to highlight "PARK U" in Shorouk City through distinctive visual content with investments EGP 4.8 billion Sakan Developments announced a strategic partnership with AEMP - AE MEDIA PRODUCTION in its latest project "PARK U" in Shorouk City, which the company is implementing with total investments EGP 4.8 billion, as AEMP will undertake the promotional, advertising, and documentary works for the project. For his part, Dr. Abdel Rahman Essam, AEMP CEO, assured that this new collaboration is part of a series of partnerships that bring together AEMP with a number of major real estate development companies in the Egyptian market, as the company managed in record time, to gain many real estate companies' confidence that are committed to quality in all the details of their projects. He added that due to this cooperation, his company will provide high-quality visual content that highlights the project's key features, including location, design, and infrastructure, in order to document the project's development journey in a professional way that fits the scale and ambition of Sakan Developments Company, showing that "Park U" project is regarded as one of the various projects that will be implemented in Shorouk City, targeting a specific segment of clients. He stated "We are pleased to collaborate with Sakan Developments in this ambitious project, as we always aim to transform the real estate project from being just papers and designs into a story to tell to clients and the community, which is done by researching and assembling the details in a way that worth the scale of the development and the dreams of the real estate developer we are collaborating with, thus the project becomes an integrated visual experience that conveys the developer's vision". Dr. Abdel Rahman Essam, revealed that AE MEDIA PRODUCTION's changed its visual identity to AEMP, as part of the company's development and expansion strategy for the next period. For his part, Eng. Walid Khattab, Sakan Developments Chairman, emphasized that the collaboration with AEMP is one of the company's fundamental pillars to convey its vision and designs for the project into a live work that clients can view and share with Sakan Developments, and implementing documentary and promotional works for the project requires a company that truly understands the importance of this step and its role in communicating the project's core message to the targeted client. He emphasized his confidence that this collaboration will be an important step toward strengthening the project's standing in the clients minds, and achieving more engagement with them, especially within the project's competitive advantages, which must be highlighted to clients, as the project is located in a prime location in Shorouk City, on an area of 15,000 square meters, it is a commercial and administrative project includes four separate buildings connected by "Sky Bridge". He noted that the project will create a global shift in Shorouk City through the brands that will be present in the project, with the possibility of including a hotel component within the project, thus it was necessary to contract with a brand and a prominent name as AEMP to highlight all the project's exceptional advantages and transform them into visual works within the highest quality standards.
Zawya
a day ago
- Zawya
Kenzz App honors top-performing sellers in First-Ever Vendors Awards Ceremony
Cairo, Egypt — Kenzz, the Egyptian mass-market e-commerce platform, has proudly celebrated the exceptional performance of its seller community through the inaugural Kenzz Vendors Awards ceremony yesterday. This milestone initiative underscores Kenzz's commitment to championing local e-commerce and delivering inclusive economic impact for businesses of all sizes, country-wide. The ceremony embodies Kenzz's core mission to bring e-commerce closer to everyday Egyptians by equipping sellers with the tools and visibility they need to grow and transform. Kenzz honored the top 10 top-performing vendors with gold coin prizes based on their commercial success during the 'ملوك اللعبة' (Kings of the Game) competition, who represented the diverse categories found on the Kenzz app. Ahmed Atef, Co-Founder and CEO of Kenzz, said: "The vendors we honor today are more than sellers on Kenzz, they are our partners and the driving force behind Egypt's e-commerce movement. With millions of users and more than 44% GMV growth in Q1 2025 in comparison to Q4 2024, Kenzz is proving that local e-commerce in Egypt can grow from the ground up through meeting real market demand with practical, measurable outcomes that push benchmarks to new heights." Mohamed Lokma, Chief Commercial Officer (CCO) of Kenzz, added: "Kenzz is built on partnerships, with commercial excellence recognized and rewarded. During the 'ملوك اللعبة' competition period, participating sellers collectively achieved a 47% increase in the sum net total revenue. These results shed light on the strength, resilience, and commercial excellence of our seller community and reflect how Kenzz is helping local businesses turn potential into real, scalable success that reaches customers everywhere in Egypt." One of the top selling winners expressed sincere appreciation for Kenzz's recognition initiative, describing it as a meaningful gesture of support for sellers. While active on several e-commerce platforms, he emphasized that Kenzz stands out as a true partner, citing its consistent appreciation and acknowledgment of its seller community. As part of this seller-focused approach, Kenzz introduced Bosla, its proprietary seller center in 2024, which played a significant role in the competition's outcomes. Designed to help vendors optimize performance and expand their product ranges by leveraging the pricing tools and inventory recommendations through data-led insights, Bosla has achieved a 100% adoption rate. Since launching its mobile app, Kenzz has surpassed 4 million downloads. This milestone reinforces Kenzz's position as a mass-market platform built to unlock gigantic economic opportunities, by putting inclusive technology, performance tools, local business growth and availability to the mass market at the heart of its model.
