Pre-Trading Thoughts

Morgan Stanley has downgraded Egypt's Sovereign credit from "neutral" to "dislike" on concerns about financing gap and high uncertainty. The House Budget Committee will discuss two draft bills that would raise the income tax exemption threshold and double exceptional stimulus payments to public-sector workers and pensioners. The changes were among a list of measures announced by President El Sisi last month to alleviate the impact of the economic crisis on vulnerable households. The EGX is ...