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Wednesday, 2 January 2019

Your top 5 business news in Egypt in December

The top five business and economic news in Egypt in December and the first week of January were:

  • The Egyptian Competition Authority (ECA) accused iPhone maker Apple and some of its distributors of having violated antitrust regulations and ordered them to amend their contracts.
  • The central bank could potentially resume issuing licenses to international banks looking to enter Egypt.
  • The Financial Regulatory Authority rejected Beltone Financial’s appeal of a six-month suspension handed to its investment banking arm over alleged irregularities in the IPO of Sarwa Capital.
  • The IMF will be disbursing its fifth tranche of Egypt’s extended fund facility this month, instead of last month, following extended talks with the government over elements of its reform program.
  • The central bank kept interest rates on hold during its final monetary policy committee meeting.

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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