January 18, 2019

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  • Political disarray hits economy

    Egypt’s stock market lost LE 18.396 billion of total market capitalization during the four-session week starting Monday.

    BY AMIRA SALAH-AHMED Cairo: The only thing more uncertain than who’s going to be Egypt’s next president, is how he’ll be able to keep the economy from crashing closer to junk status.The past week has seen the dissolution of parliament, the flux of the constituent assembly, a bold power grab by the ruling army council, and a presidential election that has led more to panic than to the picture of stability all were hoping for. With election results delayed until possibly Sunday and both candidates claiming victory, it’s all wreaking havoc on the nerves of the Egyptian people and reverberating…

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