Rocky Road Predicted For Egypt's Stock Exchange
Tuesday, August 20, 2013
The Egyptian Exchange was shut down at the end of last week as protests and violence raged in Cairo and elsewhere. It re-opened on Sunday, but trading hours were shortened to give employees more time to get home before curfew. Many foreign investors reportedly pulled out of the exchange earlier this year.
DAVID GREENE, HOST:
NPR's business news takes us to the financial markets in Egypt.
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RENEE MONTAGNE, HOST:
Despite all the violence on the streets of Cairo, violence that shut down the market there last week, prices on Egypt's stock exchange rose today. Analysts say investors are reacting to today's arrest of the spiritual leader of the Muslim Brotherhood. That's the political party of ousted president, Mohamed Morsi, who was not popular among investors.
GREENE: Those investors may also be encouraged by a pledge yesterday from Saudi officials. They said they will compensate for any reduction in aid from Western nations, including the United States. Transcript provided by NPR, Copyright NPR.View this story on npr.org