Masress : Egypt stocks rise after scrapping of planned bourse tax

Israeli escalation in Gaza amid warnings of humanitarian collapse Tax revenues surge over 40% without new burdens: ETA chief Egypt's public-private partnership investments hit EGP 19.8bn in FY 2023/2024: Tahoun Consulting Egypt's PM attends Gabon president's inauguration after election win Egypt's Abdelatty, US Advisor Boulos hold call on Africa, Middle East stability On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt EU ambassador commends Aswan's public healthcare during official visit Agricultural Bank of Egypt offers 5-year livestock loans at 5% to support small farmers Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary EGP closes high vs. USD on Wednesday Euro area GDP growth accelerates in Q1'25 Germany's regional inflation ticks up in April Germany among EU's priciest labour markets – official data Taiwan GDP surges on tech demand UNFPA Egypt, Bayer sign agreement to promote reproductive health Egypt to boost marine protection with new tech partnership Eygpt's El-Sherbiny directs new cities to brace for adverse weather Cabinet approves establishment of national medical tourism council to boost healthcare sector Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event Egypt FM affirms full support for Somalia's unity, security Central Bank of Egypt meets Chinese delegation to enhance bilateral relations Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10 Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations Egypt's PM follows up on Julius Nyerere dam project in Tanzania Ancient military commander's tomb unearthed in Ismailia Egypt's FM inspects Julius Nyerere Dam project in Tanzania Egypt's FM praises ties with Tanzania Egypt to host global celebration for Grand Egyptian Museum opening on July 3 Ancient Egyptian royal tomb unearthed in Sohag Egyptian Minister praises Nile Basin consultations, voices GERD concerns Paris Olympic gold '24 medals hit record value A minute of silence for Egyptian sports Russia says it's in sync with US, China, Pakistan on Taliban It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights Sudan says countries must cooperate on vaccines Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19 Egypt to tax bloggers, YouTubers Egypt's FM asserts importance of stability in Libya, holding elections as scheduled We mustn't lose touch: Muller after Bayern win in Bundesliga Egypt records 36 new deaths from Covid-19, highest since mid June Egypt sells $3 bln US-dollar dominated eurobonds Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

Egypt stocks rise after scrapping of planned bourse tax
EGX30, EGX70 both rise 1.6 percent after news that government's planned tax on stock market dealings would be reversed

Ahram Online Published in Ahram Online on 08 - 04 - 2013

Egypt stocks rose in Monday trading on news that a planned tax on stock market dealings – including share dividends, mergers and acquisitions – had been cancelled.
Shareholders will be refunded for taxes levied on last month's acquisition of National Societe Generale Bank by Qatar National Bank, Abdullah Shehata, aide to Egypt's finance minister, told Reuters.
Both stock indices, the EGX30 and the broader-based EGX70, rose by 1.6 percent on Monday, with the latter reaching 5,112 points. Total daily turnover, meanwhile, rose significantly from Sunday's trade session to reach some LE321.4 million.
Foreign and domestic investors ended the day as net sellers to the tune of LE4.5 million and LE6.4 million respectively.
Blue chip shares Orascom Construction Industries and Commercial International Bank, for their part, gained 1.3 percent and 3.2 percent respectively.
Communication giant Orascom Telecom, meanwhile, rose by 2.2 percent.
All major property stocks enjoyed gains on Monday, led by the Talaat Mostafa Group, Palm Hills and SODIC, which rose by 0.5 percent, 1.5 percent and 1 percent, respectively.

Clic here to read the story from its source.