Arab Polvara Rises to Highest in Week After Workers End Strike

Oct. 16 (Bloomberg) -- Arab Polvara Spinning & Weaving Co., an Egyptian textiles manufacturer, rose to the highest level in a week after its workers ended a strike.

Shares of the Cairo-based company increased 2.8 percent to 1.83 Egyptian pounds at 11:18 a.m. in Cairo, the highest intraday level since Oct. 9. The benchmark EGX 30 Index gained 1.2 percent.

Arab Polvara said its factories resumed operations on Oct. 15 after its workers ended a strike. The five-day work stoppage ended after the company agreed to raise pay in accordance with increases due to be implemented at state-owned textile companies, Al Mal newspaper reported today, citing Chairman Ayman Ismail.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at

To contact the editor responsible for this story: Claudia Maedler at