Investors seem to be betting on Hosni Mubarak as the next corrupt Arab ruler to go.
Panicked by the events in Tunisia, foreign investors in the Egyptian bourse (stock exchange) have been liquidating their positions and expatriating their capital out of Egypt quickly. Some stocks have lost 50% of their value. As a whole, the losses sustained by the Egyptian bourse in the last few days are estimated at $4.3 billion. Egyptian institutions and funds have stepped in to stabilize the bourse.
Source: Al-Sharq Al-Awsat, London, January 19, 2011
Labels: Egyptian exodus, Hosni Mubarak, Tunisia
posted by Carl in Jerusalem @ 4:43 AM