The close of trading for the weekend brought some relief to Egypt's markets. But the pressure is expected to be renewed in the week ahead as the embattled president Mohammed Morsi tries to stem protests and a US$4.8 billion rescue package from the IMF approaches a vote next week.
Topic Egypt election Mashreqbank Emirates NBD Egypt Dubai Financial Market Egypt unrest
Including the market crash now known as "Black Sunday", the EGX30 index of Egyptian equities has fallen 11 per cent since Mr Morsi issued a decree putting his decisions above judicial review, a move opponents have characterised as dictatorial.
Talks have begun this weekend between the ruling Muslim Brotherhood and opposition parties ahead of a referendum on Egypt's new constitution that is due to take place on Saturday.
No comments:
Post a Comment