Mubarak's Resignation Revives Investor Hope
{{#rendered}} {{/rendered}}Egyptian President Hosni Mubarak's decision to step down after almost three weeks of protests against him is being seen a step toward restoring investor confidence in the country.
Wael Ziada, the head of Egypt research at Mideast investment bank EFG-Hermes, says Mubarak's decision to resign and hand control to the military on Friday "will help restore order."
But Ziada cautions that questions will remain until the world gets a clear picture of how the political situation will develop in the coming months and "how the military will be ruling in the next period."
{{#rendered}} {{/rendered}}The protests demanding Mubarak's ouster have battered investor confidence in Egypt. Earlier Friday, the cost of insuring the country's sovereign debt spiked over 11 percent after Mubarak a day earlier failed to resign.