Pre-Trading Thoughts

Saudi Arabia and the United Arab Emirates plan to renew their deposits with the Central Bank of Egypt that amount to more than USD10 billion and are due next year. The House approved amendments to the Income Tax Act that would raise the tax exemption threshold by 25% to EGP45k from EGP36k. It also approved a draft bill that will amend the 2022 law to raise the exceptional cost of living allowance to EGP600 for all state employees starting this month, double the EGP300 paid out previousl...