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The refusal to allow the task force or its duly authorized representatives to conduct monitoring activity in an establishment shall be prima facie evidence of the act of rice or corn hoarding and profiteering being perpetrated.
Sulieman was referred earlier to the criminal court with four of his assistants and businessman Magdy Rasekh for illegal profiteering and squandering public funds over assigning land in Sheikh Zayed City worth of LE 907 million.
But profiteering, which exclusively benefits EAC's privileged workers is acceptable to the government, even if it is one of the main causes of the high cost of living.
By prohibiting all short-swing trading by insiders, the federal act is intended to prohibit profiteering by corporate insiders who have, or may have, knowledge about the company and its stock that is not available to the investing public.
He said the administration took no time to redress the grievances of the citizens and called for cooperating the relevant officials by informing about any unscrupulous practice of overcharging or profiteering by any vendor or shopkeeper in their locality.
CAIRO: The Higher Public Funds Prosecution referred Sunday former minister of trade and industry Rachid Mohamed Rachid, to court on charges of profiteering from his position to the tune of LE 9 million.
Eddie Weatherill, of The Independent Banking Advisory Service, said: "This is a smack in the mouth - 100 per cent profiteering.
More and more, GSK is profiteering handsomely on other scientists' work while people throughout the world who desperately need these drugs can't afford them.
He pointed out that measures are being taken to rid the people of profiteering.
Cases were registered against 235 traders and shopkeepers and 259 accused involved in hoarding and profiteering were arrested.
He said provision of relief to people was his mission and no one will be allowed to exploit people in the form of profiteering nor any hurdle will be tolerated in the provision of relief to the masses.
This would seem to be profiteering for profiteering's sake.