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Egypt regime starts talks with opposition
PROTESTS in Egypt began to cool off for the first time in almost two weeks yesterday. Talks between embattled incumbent President Hosni Mubarak and the officially banned opposition finally commenced, sparking hopes that markets in the region will recover.
However, the Muslim Brotherhood rejected initial concessions offered by Mubarak as “insufficient”.
The Egyptian stock market remained closed yesterday but some bank branches were opened for the first time in a week. Queues quickly formed and staff were told to limit amounts customers could withdraw.
The government flew in around £530m in Egyptian pounds to help deal with the expected glut of withdrawals.