ABC News Scorching Heatwave in Egypt Leaves 42 Dead A scorching heatwave in Egypt turned deadly this week, killing at least 42 people, including a German resident, patients in a psychiatric hospital and detainees, officials said Tuesday. The Mideast has been hit by a heatwave since late July. Egyptian summers are usually hot, but temperatures this week soared to 44 degrees Celsius (111 degrees Fahrenheit) in the south. The Health Ministry said 21 people died from the heat on Sunday, when temperatures topped 40 degrees Celsius (104 degrees Fahrenheit) in the country's north. Nineteen more died on Monday, authorities said, mostly elderly citizens. Bloomberg Egypt, Saudi Arabia Seen Driving Rise in Middle Eastern IPOs Initial public offerings on Middle Eastern stock exchanges are set to pick up in the rest of the year and into 2016 as oil prices stabilize and market reforms encourage more companies to sell shares, according to Ernst & Young. The opening of the Saudi Stock Exchange to foreign investors and new regulations in the United Arab Emirates that lower the proportion of stock companies have to offer investors to 30 percent from 55 percent, will encourage more share sales, Mayur Pau, Dubai-based Middle East and North Africa IPO leader at EY, said by phone Monday. A switch in the U.A.E. to having pricing based on demand, rather than at levels set by the regulator, will also make IPOs more attractive, Pau said.
