An Egyptian criminal court sentenced steel tycoon Ahmed Ezz to 37 years in prison on Wednesday for profiteering and squandering public funds and fined him 6 billion Egyptian pounds ($890 million), state news agency Mena and a j
Egypt's government has withdrawn 2,100 hectares of land from some of the country's leading businessmen because they failed to develop it, a minister who heads a committee investigating failures in industry said on Sunday.
An Egyptian court on Thursday sentenced steel magnate Ahmed Ezz, who held senior party posts under ousted President Hosni Mubarak, to 10 years in jail and fined 660 million Egyptian pounds ($110.9 million) for corruption.
Amr Assal, ex-hea
Egyptian steel magnate Ahmed Ezz, a top ally of ousted President Hosni Mubarak who is being investigated for graft, faces fresh charges of profiteering and squandering public funds, state news agency Mena reported.
Ezz, who quit his senio
Egypt's Ezz Steel said on Thursday it did not expect that legal investigations of its chairman, Ahmed Ezz, would impact the firm's management or operations.
Ezz, who was a top official in ousted president Hosni Mubarak's party, was charged
Egypt's largest steelmaker Ezz Steel has raised its steel prices 25 per cent to recoup soaring raw material costs, it said on Thursday.
The firm set its April prices at EGP4,100 ($745) per tonne, up from EGP3,280.
Ezz Steel, Egypt's largest steel producer, said on Thursday its first-quarter net profit fell 85 percent on the back of declining steel prices and a challenging export market.
The company said it made a net profit of 66 million Egyptian po