Egypt mulls turning its bourse into a joint stock company
MENAFN.COM
Egypt government is mulling privatizing its long-controlled stock exchange, state news agency MENA reported.
MENA quoted Ashraf El-Sharqawy, head of Egyptian Financial Supervisory Authority (EFSA) as saying the proposal is about changing the legal structure of the bourse.
Banks, financial institutions, brokerage companies and individual investors could be shareholders in the new structure of the bourse, but the state will hold a majority stake, according to the draft proposal.
Ahram Online cited Mohamed Omran, chairman of Egypt's stock exchange as saying that the proposal allows more flexibility and accountability, adding that it will be a political decision.
Official data showed that in the first half of 2012, 96.5 billion shares were traded on the Egyptian bourse, which was founded in 1883, or an average turnover of USD2.3 billion.
EGYPT NEWS
Video
Spot Lights
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
"Abdullah's appointment was done via constitutional decree; it was a sovereign act by the head of the executive and therefore cannot be reversed by court ruling," said one leading FJP/Brotherhood figure. His comments echoed earlier assertions by Brotherhood lawyer Abdel-Moneim Abdel-Maksoud.The return of former prosecutor-general Mahmoud is "not going to happen," according to several government
