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Egypt bourse retreats on political uncertainty

Reuters – Egypt’s bourse retreated because of uncertainty over the timing of a hoped-for presidential bid by Field Marshal Abdel Fattah al-Sisi. An  official government source said Sisi would keep his post as defence minister in a new government that is being formed after the old one unexpectedly resigned on Monday. Mohamed Radwan, director of …

Daily News Egypt

Egypt Hits 5-year high on Election Law talk; Q4 reports hurt Dubai

Reuters – Egypt’s bourse surged to a five-year high after a local newspaper reported that discussions over a new presidential election law would begin on Wednesday, while Dubai’s shares fell in profit-taking after mixed earnings reports. Cairo’s Al-Ahram said an administrative court, under the mandate of the 2014 constitution, would start discussions on the draft …

Daily News Egypt

MidEast Stocks: Emaar lifts Dubai after credit upgrade; Sisi hopes buoy Egypt

Reuters – Shares in Dubai’s Emaar Properties surged to a 65-month high on Thursday after the firm regained its investment-grade credit rating, while Egyptian shares rose amid a regional uptrend on expectations that the army chief would run for president. Emaar, Dubai’s largest developer, jumped 4.7% to 8.30 dirhams. Standard and Poor’s raised its long-term …

Daily News Egypt

Egypt index falls after deadly car bombing, Dubai hits resistance

By Olzhas Auyezov – Reuters Egyptian stocks have been on the rise since the ouster of former president Mohamed Morsi in July, driven largely by local retail investors who support the new army-backed government – but are wary of any escalation of violence. “Yesterday was a dramatic day and the country has entered a period …

Daily News Egypt

Why Egypt’s bourse seems optimistic

Egypt Business Directory explores factors behind the EGX30 index surge on Thursday to its highest level in eight months. Where did the optimism come from to push the mark to 5765.8 points in that session.

Daily News Egypt

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