VOL. XLII

No. 33

16-August-1999

EGYPT

Egypt Considers Repurchase Of Privatized Company

Egypts state-owned Housing, Tourism and Cinema Holding Co.has agreed, subject to approval by the Ministerial Privatization Committee, torepurchase the duty-free company Misr Duty Free after a change in the dutytariff law in June meant that company profits were slashed by at least 60%. Theintroduction of the new law, which ended the sale of duty-free durable goodsand limited the amount of time in which...