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Interim government striving to reduce prices by restructuring public sector companies

By Mohammed Ayad The government is set to remove various heads of its holding companies in a step aimed at restructuring the crisis-stricken public business sector and increasing competitiveness through price adjustment, according to the prime minister’s spokesman, Sherif Shawky. Shawky added that Prime Minister Ibrahim Mehleb is consulting with Minister of Industry Foreign Trade …

Daily News Egypt

Dubai lender Amlak’s Bourse suspension to be lifted

Reuters – The shares of indebted mortgage lender Amlak will resume trading on the Dubai bourse in the second half of this year, the United Arab Emirates’ economy minister said on Monday. Trading in shares of Amlak, which is in the process of restructuring debt that sources put at nearly $2bn, was suspended in November …

Daily News Egypt

Kuwait’s takaful firms struggle in crowded market

Reuters – Kuwait’s first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces cut-throat competition. This has led to stagnant growth and persistent losses for takaful firms operating in Kuwait, one of the world’s richest countries on a per capita basis, raising doubts about …

Daily News Egypt