Biodun Iginla, BBC News

Biodun Iginla, BBC News

Sunday, November 25, 2012

EGYPT'S STOCK MARKET TUMBLES AFTER MORSI'S DECREE


AP Photo
CAIRO - Egypt's benchmark stock index on Sunday plunged by more than 9.5 percent in the first trading session since the country's Islamist president issued decrees to assume sweeping new powers, while police in central Cairo fired tear gas at protesters who accuse the Egyptian leader of a blatant power grab. President Mohammed Morsi edicts, which were announced on Thursday, place him above oversight of any kind, including that of the courts. The move has thrown Egypt's already troubled transition to democracy into further turmoil, sparking angry protests across the country to demand the decrees be immediately rescinded.

AP Photo
BEIRUT - Syrian rebels captured a helicopter base just outside Damascus Sunday in what an activist called a "blow to the morale of the regime" near President Bashar Assad's seat of power. The takeover claim showed how rebels are advancing in the area of the capital, though they are badly outgunned, making inroads where Assad's power was once unchallenged. Rebels have also been able to fire mortar rounds into Damascus recently.

AP Photo
DHAKA, Bangladesh  At least 112 people were killed in a fire that raced through a multi-story garment factory just outside of Bangladesh's capital, an official said Sunday. The blaze broke out at the seven-story factory operated by Tazreen Fashions late Saturday. By Sunday morning, firefighters had recovered 100 bodies, fire department Operations Director Maj. Mohammad Mahbub told The Associated Press.

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