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Turmoil in Egypt unsettles World Economic Forum

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wef2The unrest in Egypt has now become one of the major topics of discussion amongst the leaders at the World Economic Forum in Davos.

Japan's Prime Minister Naoto Kan wants Egyptian President Hosni Mubarak to start a dialogue with his people in the wake of ongoing protests stating that he hoped the government of Egypt will restore security and peace.

Amnesty International Secretary General Salil Shetty said the protests in Egypt should be a "wake-up call" for the economic, political and business elite meeting in Davos. "It is time the rhetoric on human rights and reform delivered here is matched with genuine steps to uphold the rights of people." Economist Nouriel Roubini reported that an impromptu session had been arranged to discuss the instability in Egypt and Tunisia.

US Senator John Kerry said Mubarak needed to respond to the concerns of his citizens. He told the media that the situation in Egypt was critical and of enormous concern to everybody in the region and the world. "The key is for Mr. Mubarak to respond adequately to real frustrations and pent-up demand in the general population of Egypt," said Mr. Kerry.

Meanwhile, Saudi Arabia's stock exchange fell by more than 6% on Saturday because of concerns over Egypt.

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