CAIRO: Continued strikes in Cairo's Tahrir Square and other governorates across Egypt have prompted many Arab and foreign investors to suspend of delay their investments in the Egyptian market. Foreign trade dropped to three percent of the market on Sunday, while it used to be 30 to 40 percent. The reluctance of Arabs and other foreigners to invest in Egypt has reflected on Egypt's stock market. Speculative and small shares' prices have risen, while the prices of leading shares, related to businessmen facing trial, have decreased. The shares that suffered most in Sunday's drop were Hermis, Talaat Mustafa, Orascom Telecom, Commercial Industrial Bank, the Egyptian Company for Resorts, and Pioneers. Stock marked expert Wael al-Nahas warned that there are attempts to destroy Egypt's economy through spreading the country's unstable atmosphere, which leads to increased losses during this current critical stage. Al-Nahas said the current atmosphere affected Egyptian investors, so it is normal that foreign investors fear continued investment in Egyptian markets or beginning new investments. If the trend continues, it could threaten not only the stock market but Egypt's entire economy. Egypt's political and security instability will destroy its economy, al-Nahas added. Companies' inability to discharge their products will lead to an inability to pay loans from banks, which will threaten the banking sector and consequently many of Egypt's other economic sectors.
