BLOOMBERG/Shawn Baldwin
by Kudakwashe MuzoriwaThe Egyptian Financial Regulatory Authority (FRA) said that it had approved lowering stock exchange trading fees to encourage investment and competitiveness with other regional markets and the decision will now be sent to the cabinet for final approval.
The regulator approved cutting trading service fees to 0.005 per cent from 0.00625 per cent, clearing and settlement fees to 0.0100 per cent from 0.0125 per cent and stock market commissions to 0.0100 per cent from 0.0120 per cent.
The Egyptian government plans to sell shares in some 23 state-owned companies on the stock exchange, as part of a plan to raise EGP 80 billion ($4.93 billion) by selling minority stakes at the local stock market.
The programme has been repeatedly delayed due to unfavourable market conditions in the emerging markets last year, reported Reuters.
MOST READ
INVESTMENT
India seizes Yes Bank, limits withdrawalsINVESTMENT
ING Groep plans to sell its Turkish unitINVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
UBS launches new private client programINVESTMENT
Egypt plans to resume IPOs of parastatalsINVESTMENT
HSBC considering exiting from TurkeyINVESTMENT
Zimbabwe turns to UAE to sell a stake in...INVESTMENT
Dubai's DP World buys 44 per cent stake in...INVESTMENT
ADIA plans to sell a $2 billion stake in...INVESTMENT
Abu Dhabi’s Group 42 acquires BayanatINVESTMENT
Amanat considers stake in VPS HealthcareINVESTMENT
HSBC commences sale of French retail businessINVESTMENT
ACWA Power expands operations into AzerbaijanINVESTMENT
UBS restructures EMEA wealth management unitINVESTMENT
Goldman Sachs 1MDB case moved to higher courtINVESTMENT
Mashreq, Zoho partner to enhance SME bankingINVESTMENT
AA- ratings affirmed for ECI, stable outlook
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
