Pre-Trading Thoughts

President El-Sisi announced a series of measures on Saturday to alleviate financial strains on citizens, including: Raising the exceptional cost of living allowance to EGP600 for all employees.Raising the annual income tax exemption threshold by 25 percent from EGP 36,000 to EGP 45,000 for all state employees.Raising Takaful and Karama benefits by 15 percent and doubling the exceptional grant for 11 million pensioners and beneficiaries to EGP600 from EGP300.Raising the minimum wage for public...