iPhone | iPad
Android
Huawei
In the video, he is seen trying to drag his spouse off the stage before pageant security intervenes
KT APPDOWNLOAD
Inflation, global stock decline hit Egypt's bourse
CAIRO - Concerns about inflation and the decline in global stock markets dragged Egypt's benchmark CASE 30 index to its lowest in more than nine months on Monday, traders said.
The index skidded 2.18 percent to 8,950.72 points, its lowest close since Oct. 22, 2007, and traders said it was poised to drop further in the short-term after breaking 9,000 points.
The Hermes index shed 2.13 percent to 775.60 points, while the broader CIBC-100 index fell 3.47 percent to 431.49 points.
"Breaking the 9,000-point level sparked panic among people," said Mohamed Fouad, managing director of Global Capital. "Yesterday's closing prices indicated we were heading this way."
Mohamed Ashmawi of CIBC brokerage said: "This is mostly retail selling by Egyptians and Gulf Arab investors. Foreigners are still net buyers in the market."
Commercial International Bank (CIB), Egypt's largest listed lender by market value, fell 3.61 percent to 48 Egyptian pounds ($9.03) a share despite news the Dubai Capital Group has bought a 5.24 percent stake in the bank.
Orascom Construction Industries fell 0.62 percent to 380.11 pounds despite announcing that its United Arab Emirates Joint Venture BESIX was awarded a contract to construct and operate two new wastewater treatment plants.
"The sentiment is very bad. One or two companies won't help the market. This is about the sentiment towards Egypt," said Teymour el-Derini of Beltone Financial.
"The whole economic picture does not look good compared to last year. Inflation is through the roof ... we are seeing a lot of money going elsewhere."
Rising food and fuel prices drove urban inflation to 20.2 percent in the year to June, a 19-year high. Economists have also predicted that inflation will drag down real economic growth in the current fiscal year to between 4.8 and 6.8 percent, below the government's target of above 7 percent.
But Ashmawi of CIBC brokerage said market fundamentals were strong enough for a rebound before or during the Muslim holy month of Ramadan, which starts at the beginning of September. ($1 5.31 Egyptian pounds)
More news from
A previous version of this clothing has been worn by champion athletes during training, with an aim to improve their sports performance
Earlier, Kosovo's tennis federation accused Djokovic of aggravating an already tense situation
Norms set on intra-group transfers, determination of taxable income and restructuring relief
Offering wide range of services, including advanced diagnostic procedures, surgical procedures, these facilities provide care across range of specialities
Downtown and Palm Jumeirah emerging as top favourites
This development, the Dubai Ruler said, is part of plans to make the emirate the most beautiful city in the world
Abu Dhabi health authority debunks misconceptions that say e-cigarettes are 'safe'; studies have shown that using these devices can lead to serious lung diseases, too