Egypt will set up the Middle East's first commodities exchange this year as Amman-based Sigma Investments has completed the feasability study at a cost of LE1.3 million, announced Supplies and Internal Trade minister, Khaled Hanafy, on Monday.

Egyptian investors can now easily buy and sell shares on the Nasdaq Dubai exchange through a newly created link with Misr for Central Clearing, Depository and Registry (MCDR), the Dubai bourse said in a statement on Monday, a step to further facilitate dual listing.

Giza Systems’ Initial Public Offering (IPO) in the Egyptian Exchange (EGX) was delayed because of the turmoil in the local, regional and international markets, CEO of Beltone Capital Hazem Barakat said.

On January 19, the spokesperson to presidency, Alaa Youssef announced that Egypt’s government intended to list shares of a certain number of banks and state-owned companies on Cairo bourse.