Egypt News

Echoing gains in Europe and Asia, Wall Street's main Dow Jones index rose 395 points, or 4.7%, shortly after opening.
The increases came after the Group of Seven (G7) richest nations agreed a five-point action plan at the weekend.
European shares were further lifted by fresh moves by governments to inject more public funds into banks.
Germany has approved a package worth up to 500bn euros (£393bn; $683bn), France will spend about 350bn euros, and Spain has set aside 100bn euros.
The bulk of this money will be used to guarantee lending between banks - part of a plan agreed this weekend by the 15 nations that use the euro.
The cash will also be used to take stakes in ailing banks, and other European nations are due to follow suit.
In other key developments on Monday:
•    The UK government says it will inject up to £36bn of taxpayers cash into Royal Bank of Scotland, Lloyds TSB and HBOS
•    The news lifts UK shares, with the main FTSE 100 index advancing 167 points or 4.2% to 4,099
•    Germany's Dax index adds 400 points or 8.9%, while France's Cac 40 gains 197 points or 6.2%
•    Some central banks said they would offer financial institutions an unlimited amount of short-term dollar loans to help stem the crisis
•    The Icelandic stock exchange said share trading would remain suspended until Tuesday due to continuing "unusual market conditions"
•    Trading on the Russian stock market resumed after regulators halted operations last week because of unprecedented volatility. The rouble-denominated MICEX - rose 3.9% to 727.7
"Today marks another momentous day in both UK and global financial history," said Keith Bowman, equity analyst at Hargreaves Lansdown Stockbrokers.
"The hope in the markets is that political leaders have finally 'grasped the nettle', with substantial and coherent rescue plans now being formulated and rolled into place."
Asian shares had earlier closed up strongly.
Australia's Prime Minister Kevin Rudd said his government would guarantee all bank deposits, however large, for the next three years.
The cash injection moves by Germany, France and Spain follow after talks between all 15 eurozone countries in Paris on Sunday.
On Friday G7 finance ministers meeting in Washington promised to take "decisive action".

EGYPT NEWS

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