Arab Today, arab today egyptian stock market plunges
Last Updated : GMT 04:21:43
Arab Today, arab today
Arab Today, arab today

Egyptian stock market plunges

Arab Today, arab today

Arab Today, arab today Egyptian stock market plunges

Cairo - DW

Traders in Egypt have apparently reached for the panic buttons, with the EGX stock market down by around 9.5 percent in Sunday morning trading. Security forces announced overnight attacks in the Sinai border province. The Egyptian Exchange (EGX) stock market plummeted on Sunday, with only an enforced 30-minute break in trading slowing the decline. As of 1 p.m. local time (1100 UCT), the market\'s value shrank by 9.53 percent - not a single stock was listed as having increased in value on the EGX\'s English-language website. The market was closed minutes after opening, a failsafe measure triggered after a 5-percent plunge, but continued its slide when trading re-started. Sunday\'s session was the first since President Mohammed Morsi issued a declaration limiting the power of the judiciary, sacking the prosecutor general, and increasing the weight of any future presidential decrees. The changes prompted criticism from the country\'s Supreme Judicial Council, a strike among judges in Alexandria, as well as public protests on the streets of Cairo and other cities. Opposition leader Mohamed ElBaradei described the decree as \"dictatorial\" and said it gave Morsi the powers of a pharaoh. Cairo calmer, attacks in Sinai Cairo and its Tahrir Square focal point were comparatively quiet on Sunday after two days of major protests, with opponents to Morsi\'s latest moves saying they planned to resume their demonstrations in earnest on Tuesday. The Muslim Brotherhood called on its members to take to the streets on Sunday to show their support for Morsi. One of the changes announced by Morsi on Friday removed the judiciary\'s right to disband parliament, as it did two days before the presidential election Morsi won in June. The Brotherhood is the most powerful party in parliament, which was reopened only after a tug of war between the president and the judiciary. Authorities also said on Sunday that two security buildings in Egypt\'s Sinai Peninsula were bombed by militants overnight, reporting three people injured. One attack targeted a border crossing with the Gaza Strip at Rafah, while the other hit at a security firm responsible for guarding a pipeline sending gas to Jordan, according to security sources speaking to news agency Reuters. In August, suspected militants attacked a border checkpoint in Rafah, killing 16 soldiers. The mountainous desert peninsula borders Israel, and Egypt\'s new rulers are still working to secure the area after last year\'s upheaval when former President Hosni Mubarak was ousted.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egyptian stock market plunges Arab Today, arab today egyptian stock market plunges

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday