Stock exchange has largest 1-day decline in 2 months on election concerns
Egypt's stock exchange made its largest one-day decline in two months on concerns over the presidential election outcome, while most Gulf markets slipped on Sunday amid uncertainty over a possible Greek exit from the euro.
Cairo's index fell 3.5 percent, its biggest one-day drop since 25 March, after two of the most divisive candidates emerged as the likely contenders of next month's runoff vote.
State television said the Brotherhood's Mohamed Morsy led this week's vote with 26.4 percent against 23 percent for ex-air force chief Ahmed Shafiq, according to preliminary results.
"Some investors are afraid that because we now have the two extreme elements confronting one another, then the coming period will not be calm," said Osama Mourad, chief executive of Arab Finance Brokerage.
Real estate developer SODIC booked the largest losses, down 9.7 percent, and investment bank EFG Hermes tumbled 9.2 percent.
Mourad said investors are also concerned about possible repercussions of the verdict, due on 2 June, in the highly charged trial of former President Hosni Mubarak.
BBC SportWhen it's put to him that he might be the most talented athlete in the world to hold a racquet, a bashful Ramy Ashour admits "that's pretty great".The 25-year-old Egyptian is more than just the current squash world number one - his elastic, unorthodox brilliance and charisma could be the key to squash breaking out beyond its four walls and regaining a place on the wider sporting
Ministers in Prime Minister Hisham Qandil's cabinet following the recent reshuffle (new appointees are in italics): 1. Minister of Agriculture Ahmed Mahmoud Ali El-Gizawi2. Minister of Antiquities Ahmed Eissa3. Minister of Aviation Wael Maadawi4. Minister of Communication Atef Helmy5. Minister of Culture
AP— April 15, 2013: Two bombs explode in the packed streets near the finish line of the Boston Marathon, killing three people and injuring more than 140.— January 17, 2011: A backpack bomb is placed along a Martin Luther King Day parade route in Spokane, Washington, meant to kill and injure participants in a civil rights march, but is found and disabled before it can explode. White
The convenient marriage between Iran and the Arab left would have been unthinkable only a few years ago, given the traditional ideological paradoxes between patriarchal Persian Shiism, on the one hand, and leftist orthodoxy on the other.Indeed, a casual viewer of Hizbullah's Al-Manar television, or the Iranian-funded Al-Mayadin TV, these days would probably think that the two Shia propaganda