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Egypt Exchange to Stay Open Despite Turmoil: Chairman

Protestors in Cairo’s Tahrir Square were preparing for a million-man march on Friday to call on the ruling military council to step down, saying steps announced recently were insufficient.
The march comes as Egypt’s Stock Exchange (EGX) Chairman Mohammed Omran rejected suggestions another closure could occur if turmoil persists in the country. The EGX shut its doors for almost two months on January 27, sparking outrage from both domestic and foreign investors. The lengthy closure had also prompted MSCI to warn that it may begin consultations to cut Egypt from its Emerging Market Index . But Omran says that is now history.

“There is no plan to halt the trading on the Egyptian Stock Exchange and this is the only way to ensure investors that we keep operating normally even during these difficult times,” Omran told CNBC in an interview late Thursday.

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