Egypt News By Asfory
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A coalition of opposition groups called for a million people to take to Cairo’s streets Tuesday to demand the removal of President Hosni Mubarak, the clearest sign yet that a unified leadership was trying to emerge for Egypt’s powerful but disparate protest movement.

In an apparent attempt to defuse the weeklong political upheaval, Mubarak named a new government Monday — dropping the widely hated interior minister in charge of security forces. But the lineup was greeted with scorn in Tahrir Square, the central Cairo plaza that has become the protests’ epicenter, with crowds of more than 10,000 chanting for Mubarak’s ouster.

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Will the chaos in Egypt reverberate here financially? Charlie Gasparino on how some economists fear a return of 1970s-style “stagflation,” and how Chinese policy helps stoke it.

All the signs have been pointing to a robust economy in 2011, from the president’s pump-priming cave on Bush-era tax cuts (as well as accompanying extension benefits) to business openness to turning cash stockpiles into expansion. The stock market has cracked the 12000 level, and Republicans have been privately worrying that, in prodding Obama into adopting more free-market principles, they inadvertently saved his presidency.

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Concerns that the unrest in Egypt could spread have knocked European stock markets, with shares in travel firms taking a hit.

In London, shares in Thomas Cook fell 1.9%, Thomson Holidays owner TUI Travel shed 2.7%, while the new BA/Iberia airline group IAG dropped 0.6%.

Shares in German carrier Lufthansa were down 1.6%.

Meanwhile rating agency Moody’s has cut its debt rating for Egypt, and changed its outlook from stable to negative.

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The European Union has frozen the assets of ousted Tunisian President Zine al-Abidine Ben Ali and his wife.

The sanctions were approved by EU foreign ministers, after a request from Tunisia’s new interim government.

Mr Ben Ali fled Tunisia earlier this month after a series of protests against poverty and corruption, ending his 23 years in power.

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The authorities in Oman say they have uncovered a network of spies working for the United Arab Emirates, according to the state news agency.

The alleged agents for the UAE are said to have spied on the Omani government and military.

The UAE government denies any knowledge of – or link with – such a network, according to its news agency.

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تعرضت البورصة المصرية لخسائر حادة الاربعاء وهو اول يوم للتعاملات بعد المظاهرات التي شهدتها المحافظات المصرية الثلاثاء الذي عرف اعلاميا بيوم الغضب.

وفقد مؤشر ايجي اكس 30 نحو 6.1% من قيمته.

وقال محللون ان احداث الثلاثاء اثرت بشكل قوي على التعاملات في البورصة، التي كانت مغلقة الثلاثاء بمناسبة عطلة عيد الشرطة.

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Thousands of Egyptians defied a ban on protests by returning to Egypt’s streets on Wednesday and calling for President Hosni Mubarak to leave office, and some scuffled with police.

Activists had called on Egyptians to take to the streets again to end Mubarak’s 30-year rule after Tuesday’s “Day of Wrath” involving anti-government protests across Egypt in which three protesters and one policeman were killed.

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تعرضت البورصة المصرية لخسائر حادة الاربعاء وهو اول يوم للتعاملات بعد المظاهرات التي شهدتها المحافظات المصرية الثلاثاء الذي عرف اعلاميا بيوم الغضب.

وفقد مؤشر ايجي اكس 30 نحو 6.1% من قيمته.

وقال محللون ان احداث الثلاثاء اثرت بشكل قوي على التعاملات في البورصة، التي كانت مغلقة الثلاثاء بمناسبة عطلة عيد الشرطة.

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Palestinian negotiator Saeb Erekat has accused al-Jazeera TV of putting his life in danger by leaking secret papers on the peace talks with Israel.

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Leaked documents relating to the Middle East peace process suggest Britain’s intelligence service has been closely involved in attempts to weaken Hamas.

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