Sunday, February 22, 2009

Egypt becomes the focus of Terror

DeepLode wrote sometime ago about the increased sovereign risk for investment in Egypt as a result of perceptions in the region about its involvement in the Gaza war.
Unfortunately today in Cairo a terrorist attack has confirmed that view.
Reports suggest that a bomb was thrown from the Al Hussein Hotel overlooking the square where the bomb exploded.This is very close to the Al Hussein Mosque.
Eye witnesses are saying that the perpetrators were two people donning a face veil (niqab) accompanied by one man.
News wires are reporting that seventeen people were wounded, including 11 French tourists, three Germans and three Egyptians when a bomb went off in the tourist district of Al Hussein, near the popular Khan Al Khalili market in the heart of Cairo at around 7 pm.
A conflicting report by Reuters claims that four people have died.
Let's hope this is not the start of a serious campaign to further de-stabilise the region.

(major source..Daily News Egypt)

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