Omran: EGX Shall Be Boosted On IMF Loan Approvals
Published Saturday, 11 August 2012 16:25 | Written by Amwal Al Ghad
Dr. Mohamed Omran, the chairman of the Egyptian Exchange (EGX), has asserted that the market would move forward or backward according to the political and economic situation and events.
“Whenever the country witnesses some political breakthroughs , EGX trading shall boom.” Omran added
He said after the formation of Egypt’s cabinet, the country’s economic situation will come into much sharper focus starting from attaining the International Monetary Fund (IMF)’s loan which would positively affect the EGX in particular and the economy in overall.
Elsewhere, Omran has also asserted that the rejection of his resignation does not mean that he would serve for a further term in office saying that his term as EGX chairman is supposed to be till July 30th, 2013 and he would be there until that date.
Most Popular »
- Egypt signs 4 contracts for PPP projects worth $25bn
- Global agribusiness Bunge sues Egypt over rejected French wheat cargo
- Egypt to launch commodities exchange in 2016- supply minister
- Siemens inks long-term service deal for existing power stations in Egypt
- US spy chief predicts US and Russia spiral into new Cold War