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Pashas Accumulate Control of Alexandria Cotton Market
Egyptian bankers report two pashas Mo hamed Farghali and Ali Yehia cornered Alexandria cotton futures causing Ashmouni prices to surge nearly 100 percent in three months. Retroactive government order blocked deliveries on noncontracted cotton. Traders dispute profits while buyers shutter mills awaiting relief as market fluctuates.
MENTIONED IN THIS ARTICLE
Alexandria
Egypt
Hamed Farghali Pasha
Ali Yehia Pasha