Thursday 24 March 2016

MIDEAST STOCKS-Egypt continues rises after cabinet reshuffle, Gulf slips | Reuters

MIDEAST STOCKS-Egypt continues rises after cabinet reshuffle, Gulf slips | Reuters:

"Egypt's stock market rose again on Thursday on hopes a new cabinet could give the economy a boost, while a pull-back by Brent oil below $40 a barrel and a cut in telecoms roaming fees pushed down Gulf bourses.

The Egyptian index gained 0.7 percent in active trade, adding to its 0.9 percent rise on Wednesday in response to a cabinet reshuffle that appeared to focus on improving economic performance.

Banking veteran Amr el-Garhy was appointed finance minister and Dalia Khorshid, formerly an executive of Orascom Construction, was made investment minister."



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