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Tuesday, 27 November 2018

What we’re tracking on 27 November 2018

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The EGX30 posted its fifth straight day of losses on Monday as a global equities selloff overlapped with news that Egyptian banks could see their effective tax rate rise sharply under a proposed change to how banks are required to account for income from investments in treasuries. We have chapter and verse in this morning’s Speed Round, below.

House to discuss privatization program today: The House of Representatives’ economic committee will meet with Public Enterprise Minister Hisham Tawfik today to discuss the government’s privatization program, MPs told local news outlets. Egypt postponed last month the first stake sale under the program as turbulence in global markets sapped investor appetite for emerging market offerings.

The House is also expected to discuss this week the 1 January deadline to cut import duties on EU-assembled cars to 0% and will look at proposed amendments to the Real Estate Registry Act.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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