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News -
Africa
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Written by Mahmoud Kassem, Bloomberg
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Sunday, 15 February 2009 08:23 |
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Feb. 15 (Bloomberg) -- Egyptian stocks rallied after the central bank cut interest rates for the first time since 2006 amid a drop in inflation. Orascom Construction Industries, the country’s biggest publicly traded builder, led gains.
The CASE 30 Index rose 95.47, or 2.7 percent, to 3,696.26 at the close in Cairo as all 30 stocks on the measure advanced. The index has still declined 20 percent this year.
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