The cabinet has approved the postponement of the capital gains tax for three years that star in May. He pointed out that the increase of trading volume with the market’s decline, and the decrease of trading with an improvement in the market predicts a strong decline. He expected this week to witness profit collection starting on Monday with the level of 12,000 points in light of the sideways movement of the market. Shehata explained that breaking the sideways trend of the market depends on new awaited offerings. However, it managed to reduce its losses and ended last week’s session at the level of EGP 77.03.

Source: Daily News Egypt March 26, 2017 08:15 UTC