- CAIRO: Egypt's stock exchange postponed its already long-delayed reopening until next week and markets in the Gulf Arab region posted their third consecutive day of declines as unrest in Libya and elsewhere in the region battered already fragile investor confidence in the Mideast.
The Egyptian Exchange's decision to postpone its relaunch would mean that the market will have been closed for a month, assuming it restarts on Feb. 27. The exchange, in an e-mailed statement, said the decision followed consultations with the Egyptian Financial Services Supervisory Authority and brokerage houses. It did not specify a date for the relaunch.
The decision appeared to reflect that continued anxiety in Egypt about the country's economic woes following 18 days of protests that toppled Hosni Mubarak were being compounded by broader unrest in the region.