Salah Diab acquitted of unlicensed firearms possession charges: Salah Diab, founder of PICO Group and Al Masry Al Youm newspaper, and his son Tawfik were acquitted of charges of possession of unlicensed firearms by a Cairo criminal court on Monday, according to Ahram Online. The business community was stunned back in November 2015 when Salah and Tawfik were arrested after a number of high profile cases being filed against a number of leading business figures. The arrest prompted President Abdel Fattah El Sisi to remark that “the law governs all relations between the state and businessmen and that he will not tolerate abuses to anyone.”
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Swvl is not dropping off of Nasdaq just yet, as company turns to the black in 2025
The company turned a profit last year, allowing it to…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…