"The Egyptian Stock Exchange will operate under a new system as of September to boost trading," Investment Minister Mahmoud Mohie Eddin said Saturday 16/8/2008.
A new index of the stock exchange will be also launched, the Minister said at the end of his Asian tour which included Malaysia and Singapore.
The Egyptian and Singaporean stock markets will cooperate in the technical sphere, the Minister said.
Maged Shawqi, the Chairman of Cairo and Alexandria Stock Exchange (CASE), will visit Singapore within a week to decide the technical aspects of cooperation between the two sides, Mohie Eddin said.
The Egyptian bourse seeks to train its cadres in Singapore to benefit from the latter's expertise in various fields, he said.
A team from the Development Bank of Singapore will visit Egypt within the coming few weeks to get acquainted with projects to which it could contribute, said Mohie Eddin.
DBS is the largest bank in Singapore as measured by assets, and a leading bank in Hong Kong, providing the full range of services in corporate, consumer and wholesale banking activities across Asia and the Middle East.
With one of the highest credit ratings in the region, DBS is ready to serve customers in 16 markets as a bank that specializes in Asia.
Mohie Eddin said Egypt and Singapore will establish a joint insurance company.
Source: Egypt State of Information
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