Pre-Trading Thoughts

The government is mulling a permanent exemption for factories from property taxes and either raising the residential tax exemption cap or doing away with it altogether for first homes, Deputy Finance Minister said. Remittances from Egyptians working abroad more than doubled YoY in September to hit USD2.7 bn. The CBE sold EGP75.2 bn worth of t-bills with record average yields of 30.9% for three-month bills, 30.6% for six-month bills, 28.4% for nine-month bills, and 26.2% for year-long bills. T...