Tuesday, 9 July 2013

MIDEAST STOCKS-Egypt rises on elections timeframe, Gulf aid | Reuters

"Egyptian stocks rose sharply on Tuesday on signs that the country was moving ahead with a transition to civil government after the military ousted president Mohamed Mursi, and on expectations for major financial aid from the Gulf.

Egyptian Exchange data showed foreign investors remained net sellers of stocks, and there was tremendous uncertainty over whether the country could form a coherent government capable of addressing economic problems.

But late on Monday, a decree issued by interim head of state Adli Mansour revealed plans for parliamentary elections within about six months, with a presidential vote to follow; the parliamentary polls would be held once amendments to Egypt's suspended constitution were approved in a referendum."

'via Blog this'

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