On July 3, 2013 Egyptian Defense Minister Abd al-Fattah as-Sisi in his address to the citizens declared the removal of the President Mohammed Moursi from his position and suspension of the December 2012 constitution. Thus, a short but unique period of "the Muslim Brotherhood" reign came to an end.
M. Moursi during the first months of his reign faced the necessity of extremely unpopular policies to overcome socio-economic crisis in the country. A signal of its possible political consequences was voting at a referendum in December 2012 when the support for the constitution "pushed" by Islamists was not as obvious as it was in the case, for example, of March 2011 while voting for the adoption of temporary constitutional declaration or in the parliamentary elections in December 2011 – January 2012 . It was obvious that solving social and economic problems through popularization of Islam and populist slogans is impossible, and this meant that the president would either have to withdraw from the policy of Islamization that inevitably would lead to a split among the Islamists in Egypt, or pursue such policy and in this way all of the frustrations of not improving (even if not worsening) conditions of the population and unresolved social and economic problems would be firmly associated with the period of Islamists reign, which would dramatically affect their support of the citizens. However, Moursi was given a year to implement the Egyptian "economic miracle" that has not left the fifth Egyptian President chances to retain power.
However, if we observe the behavior of the main Egyptian stock indexes, we can identify some extremely interesting patterns. So, two days before the beginning of the protests against President Moursi, on June...
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...ficit of the country and halt the loss of foreign exchange reserves, and that is crucial for Egypt because it imports more than half of primary goods consumption and especially wheat . And, as it is known, wheat supply disruptions are painfully perceived by the Egyptians, as it is evidenced by the second wave of agflation (i.e., rising food prices), which we can confidently consider as one of the factors that led to growing discontent in the country in January 2011 . However, we should pay attention to the fact that even the administration of the «Muslim Brotherhood» has succeeded in slowing the rate of decline of the Egyptian pound to near-zero values . Under the new administration ("putschists") this trend only continued. At the same time, both of them had one and the same (and thus ultimately rather doubtful ) tool of strengthening – massive foreign borrowing.
El-Sisi became president in 2014 in hopes that he will “restore order” in Egypt after facing the Muslim Brotherhood (The Week Staff).
The attacks of 9/11 resulted in history’s longest stock market shut down since the 1930s. The New York Stock Exchange remained closed for six days after the attacks. Furthermore, Davis (2011) reports that upon reopening, the New York Stock Exchange fell almost seven hundred points, the biggest one day loss in history. Additionally, Jackson (2008) reports a 14% decline in the Dow Jones, a loss the Dow still felt almost a year later. But, it was American Airlines and United Airlines that experienced the greatest loss. Following the reopening of the stock market, American experienced a 39% decline and United experienced a 42% decline (Davis, 2011). However in face of discouraging numbers, Jackson (2008) reports that the U.S. markets rebounded second only to Japan, showing the great economic resilience of the U.S. While the stock markets present a bleak outlook immediately following the attacks, the financial loss is far from reassuring.
...d took control of the Gaza Strip once again. Anwar el-Sadat then became president after Gamal Abdel Nasser died in 1970. In an effort to take control of the Sinai Peninsula, Anwar el-Sadat attacked the Israelis. After a cease-fire, the United Nation’s troops then returned to keep things peaceful. Israel then later withdrew and was only allowed to use it for non-military purposes. In 1978 a peace treaty was established between Egypt and Israel which influenced more peace in the Middle East. Although a formal treaty was signed in 1979. In 1981 Sadat was assassinated and Mohamed Hosni Mubarak followed him in presidency. The Sinai Peninsula was then returned to Egypt in 1982 after the Israeli troops withdrew from the region. Mubarak embraced Sadat’s policies and managed to climb to the top and be once again making Egypt known as one of the leaders of the Arab world.
Ridel, B, 'The real losers in Egypt's uprising', The Daily Best Online, 13 February 2011. Retrieved 19 March 2011< http://www.thedailybeast.com/blogs-and-stories/2011-02-13/al-qaeda-absent-in-hosni-mubaraks-fall-and-egyptian-revolution/>
The Egyptian revolution was started like any other revolution; the people had a problem with the unfairness of the government. Hosni Mubarak had been in power for 30 years nearly half a lifetime of control. There were multiple attempts to remove him from power, but they were stopped with military force. Near the end of his rule he began to express excessive control of the politics of his people. Declaring that no religious associated groups would be able to hold any political power, with this law he eliminated his biggest rival, the Muslim Brotherhood. Up until 2005 Mubarak did not allow for anyone to run against him as president. He only had a vote for his approval to stay in office. With other opponents running he rigged the elections and
In 2010 the Middle East experienced a disturbing series of protests and riots against the government. The term Arab Spring was coined as an allusion for the 1848 revolutions that rocked the Arab world. This devastating revolution saw its inception in a chain of small scale protests for the democratization of the Arabian governments. With its start in Egypt and Tunisia it has not failed in affecting every Arab country from Libya, Sudan and Morocco in the West to Yemen and Saudi Arabia in the East. A branch of the same revolution has successfully managed to become the cause for a civil war outbreak in Syria and even stretched its influence outside the Arab world to affect Iran and Mali.
The events that unfolded on September 11th and the days that followed also profoundly effected the stock market. It is the purpose of this paper is to examine what happened to both the Dow Jones Industrial Average and the NASDAQ after September 11th and how it is similar to events such as the bombing of Pearl Harbor, the Oklahoma City bombing, and the Gulf War in terms of how the stock market experienced a blow and bounced back after a while.
Early 2011 uprisings swept across the Middle East and North Africa, and many rebellions are still going on today. The Arab region has seen revolts and conflict since the 1800‘s, but only recently have these revolts been redirected to the problems of Arab society (Ghannam, J. 2011 pg 4-5)The Arab Spring Uprising was first sparked in Tunisia and eventually struck Algeria, Jordan, Egypt, Yemen and then spread to other countries. Citizens throughout these countries were dissatisfied with the rule of their local governments. Issues like human rights violations, political corruption, economic decline, unemployment, extreme poverty, dictators...
In the past 30 years Egypt has received over a billion dollars in aid. With the current regime constantly not stable enough to keep their leader in power and government trust at an all time-low we are forced to look at what this aid is actually providing. Throughout this essay I will guide you through the logistics of distributing such large aid packages, the impact, and why this practice is hurting, not helping the U.S. Egyptian citizens neither profits, nor wants the U.S in their everyday life. We have no business in their country and they have no business in our pockets; when this tie is severed both parties will be better off.
After the rule of Sadat’s predecessor Gamal Abdel Nasser the government was somewhat corrupt. Nasser had good intentions for egypt’s government, but his his dream was not easy to complete along with him not having the best experience. This lead to Sadat’s goal being to not only “fix” the government, but to make it even better than before. He thought a sensible way to do this was to make their government more western. Sadat wanted the people to have more of a role as to where they could vote thus giving them more rights as well as increasing the role of
As the Arab Spring enters its second year, major uprisings and revolts have occurred all over the Middle East, pushing for an end to the corrupt autocratic rule and an expansion of civil liberties and political rights. Most recently, images from Syria have emerged, depicting the government’s use of force to suppress the voice of its people. One might ask, “Is this the beginning of a revolution? Is the country on the path to democracy?” To assess this question and examine the future trends in the region, one must look back on the country’s somewhat tumultuous history, the relationship between the citizens and the state, and the political economy.
In turn everything in the present and the future is judged through the stocks as they hold a high importance in industrialized economies showing the healthiness of said countries economy. As investing discourages consumer spending over all decreases, it lead...
The structure of Egyptian politics and state administration was also redefined during Ali’s rule. As the go...
Egyptian’ are and Arabic speaking nation-state with a diverse culture and heritage as a modern nation-state. Their development, over the centuries, saw conflicting beliefs but, most Egyptians today see themselves, their history, culture, and language as specifically Egyptian. Mr. Kamel states that the, “Egypt’s leading role in Middle Eastern cultural and political affairs, generally dominates Egypt’s relations with other nations. In turn, this either broadens or limits the scope of choices and opportunities available domestically” (Kamel, 1999). Egypt as a state; their politics are organized under a multi-party semi-presidential system, where the executive power is divided between the President and the Prime Minister.
Chapter 11 closes our discussion with several insights into the efficient market theory. There have been many attempts to discredit the random walk theory, but none of the theories hold against empirical evidence. Any pattern that is noticed by investors will disappear as investors try to exploit it and the valuation methods of growth rate are far too difficult to predict. As we said before the random walk concludes that no patterns exist in the market, pricing is accurate and all information available is already incorporated into the stock price. Therefore the market is efficient. Even if errors do occur in short-run pricing, they will correct themselves in the long run. The random walk suggest that short-term prices cannot be predicted and to buy stocks for the long run. Malkiel concludes the best way to consistently be profitable is to buy and hold a broad based market index fund. As the market rises so will the investors returns since historically the market continues to rise as a whole.