Pre-Trading Thoughts

The House approved a new simplified tax system for SMEs that proposed that businesses with an annual turnover of up to EGP15 million will pay a simple flat tax that covers income tax, value-added tax, duty tax, and others. The Economic Committee approved a framework agreement with the African Development Bank to phase out LIBOR as a reference interest rate. French shipping line CMA CGM will continue to avoid the Suez Canal and use the Cape of Good Hope passage despite the ceasefire in G...