Amer Group Holding (AMER EY) advanced 1.7 percent to 1.21 Egyptian pounds, the highest level in almost a week. The Egyptian resorts developer said it's canceling the third phase of its Golf Porto Marina project on the Mediterranean Sea coast because of the country's economic downturn. The Cairo-based company will ask the Matrouh Governorate to take the land back and reimburse it.
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
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