Egypt’s stocks rose during Monday’s trading backed by foreign net buying amid reports about an imminent flotation of the local currency.

Egypt’s stocks declined on Thursday on the second day of thin trading following the Eid Al-Adha holiday, Al-Ahram Arabic news website reported.

Beltone Market Maker, a subsidiary of Beltone Financial Holding, one of Egypt’s leading investment banks, has begun providing market-making services in the shares of Orascom Construction on Nasdaq Dubai.

Egypt's state-owned telephone company Telecom Egypt has signed a deal to buy a fourth-generation (4G) mobile licence, becoming the first mobile operator to do so in the country.