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Europe Day Ahead: Egypt's crackdown, West condemns bloodshed

Thursday, August 15, 2013 - 03:22

Aug. 15 - Fury over a security crackdown on the Islamist movement that killed hundreds of people spills onto the streets in Egypt, while oil hits 4-month high and companies pull out.

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Egypt very much the focus again Friday the Muslim Brotherhood today called for protest march in Cairo. As the death toll mounts at least 525. People have now been killed. A more than 3000 injured in the violent clashes. Off to security forces moved in to kick caps of supporters of deposed as -- missed present Mohamed Morsi. Funerals have been held throughout the day Campbell continued Friday the main Muslim day of trying to. Sparking concerns of further unrest. The army has declared a month long state of emergency and imposed a dusk to dawn curfew in Cairo. Though whether it'll be enough to keep a lid on the fury of increasingly marginalized Muslim Brotherhood supporters. Is unclear. A brotherhood spokesperson says that anger is now beyond control. David Caldwell senior Middle East and North Africa analyst Brian -- says expect more sporadic violence and perhaps deaths in the coming days and weeks. Are printing and declaring of these new assistant is going to necessary spell the end of the demonstrations and right. But it's difficult to see Watson's brother and house now and it's it's it's it is gonna come under increasing pressure -- CC. To want to join the mainstream war or or -- sense -- -- if you like and so therefore it's wouldn't -- probably going forward is is is these slow burning. Standoff occasion -- bond between the state and the resemblance. The unrest is unsettling the markets Brent crude topped 111 -- -- Thursday due to fears. About the Suez Canal and disruptions in the supply chain. Volatility likely to continue as the violence goes on the breaking -- Edward Hamas says the ramifications go far beyond market panic about oil. The really important part of the story is not whether the Suez Canal is going to be bought for little bit that's extremely unlikely there's not a single force in. In Egypt -- really wants that to happen. What's really important. I think we think is -- ramifications of what seems now to be the pretty definitive failure of the Arab Spring. And the decline into possible decline into chaos of the largest country in the Middle East. Edward had us what's been too early about Orioles are spreading to business is based in Egypt home upon his -- electric locks announced today it stopped its in country production. And is assessing the risk of opening on a daily basis checked textile maker pay gas has also suspended a test run of its new Cairo fracturing. Tourism also likely to suffer rusher is poised to evacuate the estimated 60000. Russians. Currently on holiday in Egypt that no orders have not been given tax yet. Terrorism accounted for 11% of Egypt's GDP under former leader Hosni Mubarak said the unrest likely to deal and significant blow to the economy. Outside of Egypt has more temperatures taking on the Euro zone when inflation figures come out Friday the rate of price increases across the currency bloc. Expected to remain steady in July economists polled by a Royces for costing afford in the coming months. But inflation bottoming out and around one point 3% at its end of the year. Junior president and current account figures also out tomorrow the balance in June it was nineteen and a half billion. That is all look ahead to Friday's key events -- so -- -- analysts.

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Europe Day Ahead: Egypt's crackdown, West condemns bloodshed

Thursday, August 15, 2013 - 03:22