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Human trafficking in the Sinai

For years with the knowledge, and some suspect the consent, of the Egyptian government, human trafficking has been going on in the north-eastern part of the Sinai with Bedouins from the Rashaida tribe holding human refugees hostage, demanding unbelievable sums of money for their release.

The hostages, mainly from Eritrea but also from Ethiopia and Sudan, are often kidnapped in South Sinai after fleeing their violent countries; some kidnapped even from the UNHCR refugee camps in the region, then transported to the Sinai where they are held in underground locations or buildings housing up to 100 people. They are subjected to unspeakable torture as the kidnappers try to press ransom money from the hostages’ relatives. For this purpose the kidnappers hand cell phones to the hostages and force them to call their relatives at home or overseas, begging for enormous sums of money that can reach $50,000 per person.

(Daily news Egypt)

 

More : http://www.dailynewsegypt.com/2013/03/18/193107/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+DailyNewsEgypt+%28Daily+News+Egypt%29

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Egypt brokerages, investors voice opposition to new stock market tax

Egypt brokerages, investors voice opposition to new stock market tax | Égypte-actualités | Scoop.it

Several Egyptian brokerage firms and investors' associations on Sunday sent a petition to Prime Minister Hisham Qandil to demand the reversal of a recent cabinet decision to impose a small tax on all stock market transactions Al Ahramonline reported.

Signatories of the petition say the move will negatively impact Egypt's overall investment environment and could lead to an exodus of investors from Egypt's already-struggling stock market.

(...) The petition stressed that the current state of the national economy required that the government adopt measures aimed at attracting investors to Egypt's capital markets instead of imposing further financial burdens on them.

According to the government's economic recovery plan that was unveiled last week, a 0.001-percent tax will henceforth be imposed on all stock market transactions. According to the recovery plan, the new tax is expected to generate an annual LE450 million in government revenue.

Last week, Egyptian Stock Exchange Chairman Mohamed Omran expressed concern regarding the new tax, claiming the decision was likely to spook investors from the Egyptian market.

More on: http://en.trend.az/regions/met/arabicr/2125821.html

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