Pre-Trading Thoughts

A presidential decree establishing the Supreme Council of Taxes was issued, Minister of Finance announced, to empower the private sector, stimulate investment, and encourage investors to expand their productive and export activities. The government agreed with manufacturers and merchants to start reducing commodity prices by about 15% and 20%, bringing the reduction to 30% after Eid al-Fitr. Some USD 2.8 bn worth of goods have been cleared from the country’s ports thanks to the recent spa...