Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Court ruling expected on Gabon's contested election results

Read more

MEDIAWATCH

Clinton's Comedy Turn

Read more

THE WORLD THIS WEEK

Sarkozy's Populist Pivot, Bahamas Leaks, Syria Truce, Rome Olympic Bid (Part 2)

Read more

THE WORLD THIS WEEK

US Police Shootings: Race relations and the race to the White House (Part 1)

Read more

#TECH 24

Breaking the wall between technology and people

Read more

FRANCE IN FOCUS

Rural France: Challenges and opportunities

Read more

REPORTERS

Video: In Burma, ex-political prisoners struggle to return to normal life

Read more

ENCORE!

Xavier Dolan: Wunderkind of Québecquois cinema

Read more

FOCUS

The battle for UK Labour’s leadership

Read more

Business

Fitch rating agency downgrades Egypt to 'negative' on protests

Text by News Wires

Latest update : 2011-01-28

Egypt’s outlook was downgraded to “negative” by the Fitch rating agency Friday. The revision comes after the country's stock index fell Thursday by 10.5%. The move is a sign that investors are increasingly concerned by current events in the country.

AP - Fitch Ratings has revised down to “negative” its outlook for Egypt, reflecting concerns that the massive anti-government protests will further undercut stability in the Arab world's most populous nation.

The revision Friday by the international ratings agency is one of the first indications that the past few days of protests are coloring investors' view of the country.

On Thursday, the Egyptian Exchange's benchmark EGX30 index fell 10.5 percent, building on a more than 6 percent drop the day before.

Friday's protests are the largest so far this week. Demonstrators have complained about the growing income disparity in the country and the crushing poverty effecting nearly 40 percent of its 80 million people.

They are demanding President Hosni Mubarak's ouster.
 

Date created : 2011-01-28

COMMENT(S)