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Due diligence for RECAP and Wadi Degla partnership to be completed this year

Eman Sadek, the director of investor relations at RECAP Financial Investments—the real estate arm of Naeem Holding—said that the due diligence examination for a partnership with Wadi Degla Developments is set to be completed this year. The company announced the partnership in August 2016, yet procedures are not completed. Sadek noted that the due diligence …

Mahmoud Abu Bakr

A proposal to reduce stamp tax supports the cohesion of EGX

The Egyptian Exchange (EGX) indexes strengthened at the end of last week, following a wave of decline on the back of the high-stamp tax proposal, before the Ministry of Finance suggested to bring the rate down to 0.125%. The EGX has been suffering over the past week, recording at midweek its lowest transactions since October …

Mahmoud Hashem