Business News/ News / World/  Egypt clashes kill 9 as Islamist calls for US Embassy siege

Dubai: Clashes between supporters and opponents of deposed Egyptian President Mohamed Mursi killed nine people, as violence following his ouster by the military showed no sign of ebbing.

The deadliest eruption of fighting took place near Cairo University, where six people were killed, state-run television reported, citing the health ministry. Another person died in Tahrir Square near the US embassy after Muslim Brotherhood leader Essam El-Erian urged Egyptians to peacefully lay siege to the mission for what he said was American support for Mursi’s 3 July overthrow.

Daily violence that has claimed the lives of dozens over the past three weeks risks undermining the interim government’s plan to return to elected rule. The US, which gives the Egyptian military more than $1 billion a year, has stopped short of calling the army’s intervention a coup.

The military, supported by secular-leaning political parties and youth groups, removed Mursi from power after days of mass rallies against his rule. Under the transition plan, constitutional court chief Adly Mansour was named interim president and the constitution drafted under Mursi is to be amended. Presidential and parliamentary elections are to follow.

Fighting has repeatedly broken out since Mursi’s ouster. The Brotherhood blamed the deaths near the university on security forces who attacked unarmed protesters. Militants have also stepped up attacks in the Sinai peninsula, killing and injuring several soldiers and policemen.

The tensions haven’t halted a rebound on financial markets since the army intervention. The EGX 30 stock index rose 0.6% on Monday, taking gains this month to 15%. The yield on Egypt’s $1 billion dollar bonds maturing in 2020 rose five basis points, or 0.05 of a percentage point, to 8.52% at 11:48 am in Cairo, still more than 2 percentage points below their peak on the day Mursi was ousted. BLOOMBERG

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 23 Jul 2013, 04:50 PM IST
Recommended For You
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout