Commercial International Bank Ltd. ADROTCQX
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  • Mon, Mar. 14, 11:08 AM
    • The central bank sold $200M at a rate of 8.85 Egyptian pounds per dollar s. 7.73 previously. This narrows the gap between the official rate and the black market rate of 9.6 to the dollar.
    • The move comes alongside declines in tourism and foreign investment. In a sign of growing religious tension, the country's Justice Minister was fired after some incendiary comments.
    • EGPT -5%, OTCQX:CIBEY +1.8%
    | Mon, Mar. 14, 11:08 AM
  • Feb. 28, 2011, 2:12 PM
    Egypt's stock exchange is scheduled to reopen tomorrow. An initial surge in EGPT after the bourse's close discounted a massive rally in Egyptian shares, but the ETF has given back most of those gains, and regulators now worry about panic selling once trading reboots in Cairo. Today, EGPT -5.7%.
    | Feb. 28, 2011, 2:12 PM
  • Feb. 11, 2011, 7:21 AM

    Mohamed ElBaradei urges the army to intervene, saying Egypt will "explode" after Hosni Mubarak makes clear he intends to remain President until Fall elections. CDS on Egyptian debt jump more than 10%. Egyptian shares trading in London plummet.

    | Feb. 11, 2011, 7:21 AM
  • Feb. 7, 2011, 12:39 PM

    Demonstrators are unpersuaded to leave Cairo’s Tahrir Square despite government assurances of free elections within a month. Other concessions: the release of political prisoners and easing of media restrictions. EGPT +3.1%. Commercial International Bank CIBEY.PK +5.9%.

    | Feb. 7, 2011, 12:39 PM
  • Feb. 7, 2011, 8:31 AM

    Officials announce February 13 as the reopening date for the Egyptian stock market which has been closed since January 27. In London trading, Commercial International Bank (CIBEY.PK) is +5.8%. Premarket: EGPT +0.3%.

    | Feb. 7, 2011, 8:31 AM
  • Feb. 2, 2011, 11:03 AM

    Concern over whether unrest in the country leaves Egypt unable to support the banking system leads to a downgrade of its banks by Moody's. The agency also downgrades Egypt's debt to Ba2. Commercial Int'l Bank (CIBEY.PK -4.6%). EGPT -5.7%.

    | Feb. 2, 2011, 11:03 AM | 1 Comment