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The Egyptian stock Exchange (EGX)’s management decided to suspend Monday’ session for thirty minutes after the benchmark index, EGX30 soared by 5 percent.
The stock market indices jumped in early trading after announcing a government decision to put the capital gains tax on hold for two years.
Hossam al-Qawish -Cabinet Spokesman- said in an emailed statement on Monday holding the capital gains tax was meant “to preserve competition in the Egyptian bourse… as part of ongoing efforts at economic reform”.
