Protests As Egypt President Makes Power Grap

Egyptians took to Tahrir Square once again this weekend, after President Mohamed Morsi issued a decree that granted him expansive powers. Some of the most concerning powers he granted himself include immunity from judicial oversight on laws the president issues and the exemption of court appeals against the constitution being drafted by the Shura council (Egypt's upper parliament). On Friday scores of Egyptians protested the new laws. Police fired on protesters with tear gas and shotguns, they also tried to block the road to Tahrir Square. Protesters burned down offices of the Freedom and Justice Party, the political arm of the Muslim Brotherhood in several cities. Egypt's interior ministry said after Sunday's protests that 267 protesters have been arrested, while 164 policemen were injured. The announcement has had disastrous effect on the country's stock market, with the stock index plunging 10% - an estimated $5 billion loss in the value of shares. On Sunday Morsi released a statement addressing the concerns around his decrees. The statement said: "The presidency reiterates the temporary nature of those measures, which are not intended to concentrate power. "The presidency stresses its firm commitment to engage all political forces in the inclusive democratic dialogue to reach a common ground." Despite the statement, the country remains in a state of turmoil, with judges threatening to strike and more protests expected today. In other news: - African Headlines This Week (15/11 - 22/11) - Kenyatta vs. Odinga: Fact File - Timeline of DRC Rebellion Visit MSN Africa for more