Egyptian Stock Exchange Open Again after Unrest

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After the past month of protests and unrest in Egypt, the country’s Bourse will re-open tomorrow, amid turbulent times in other middle east countries.

Stocks tumbled in Saudi Arabia’s benchmark Tadawul All Share Index by 5  percent yesterday, as Libya, Tunisia, Bahrain and Yemen undergo political turmoil with protests and calls to oust governments.

Oil prices are soaring as fears of civil war in Libya and other unrest in the region increase the risk of supply disruption or destruction.

Moustafa Assal, managing director of Cairo-based Beltone Financial’s fixed income unit expressed concerns on 2 year highs on treasury bills and borrowing costs.

The high yields, especially on the longer-term notes, are a big concern because the government is becoming unable to cover its intended issuances, the high yields, especially on the longer-term notes, are a big concern because the government is becoming unable to cover its intended issuances.

The uncertainty in the region, has ensured investors will remain very cautious over the near term, as civilians continue their protests.


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In This Story: Egypt

Egypt, a country linking northeast Africa with the Middle East, dates to the time of the pharaohs. Millennia-old monuments sit along the fertile Nile River Valley, including Giza’s colossal Pyramids and Great Sphinx as well as Luxor’s hieroglyph-lined Karnak Temple and Valley of the Kings tombs.

The capital, Cairo, is home to Ottoman landmarks like Muhammad Ali Mosque and the Egyptian Museum, a trove of antiquities. 

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