MIDEAST STOCKS-Egypt rebounds, profit-taking shifts to Kuwait | Reuters:
"Egypt's stock market rebounded from a profit-taking bout on Monday after the Cairo government announced ambitious plans to develop the refining and petrochemicals sectors and awarded fresh licences to foreign energy companies.
The Cairo index rose 1.8 percent after oil minister Sherif Ismail told Reuters on Sunday that Egypt would spend $14.5 billion over the next five years to overcome an energy crisis that has led to near-daily power cuts and hit company profits.
He also said the government was considering floating stakes in some state-owned oil companies on the stock exchange."
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