Egyptian Stock Exchange Official Addresses Rumor
Seeking to quash rumors that foreign and Arab investors refrained from putting money into the Egyptian stock exchange last year, the chairman of the exchange Abdul-Hameed Ibrahim said these investors accounted for 26 percent of all buy transactions in 1999.
Al-Bayan daily reports that the value of purchase transactions on the market by Arab and foreign investors hit EP 8.836 billion in 1999. The value of sale transactions by same group hit EP 5.612 billion, which is equal to 17% of all sale transactions last year. (EP3.4=$1).
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