Officials: Egypt’s Local Markets were not Affected by US Attacks
Egyptian officials said that last week's terrorist attacks in the US have had little impact on local markets, and some sectors have even shown positive developments.
Minister of Petroleum Sameh Fahmi said that a major US investment company has offered to fund the establishment of new projects within the framework of the state's natural gas plans, reported Egypt Online.
He was quoted as saying that that climbing international oil prices have resulted in more oil revenues for Egypt.
The revenues were increased substantially when the Egyptian Petroleum Authority amended 11 agreements concerning the purchase price of natural gas for foreign partners.
Another official, director of the Hallmarks authority, Abdul Mo'men, said the local gold market was largely unaffected by last week's terrorist attacks on New York Washington.
He said gold prices had increased shortly before the event as a result of correlation between the local and international gold bourse.
"This had no connection to the increase in dollar exchange rates," Mo'men said – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)