World Bulletin / News Desk
Egyptian authorities have barred the chief executive of Orascom Construction Industries , one of the country's biggest companies, from leaving the country as part of an investigation into tax evasion, state media said on Sunday.
The public prosecutor ordered that OCI CEO Nassef Sawiris and his father Onsi Sawiris be barred from travel, the state news agency MENA said.
The order from the public prosecutor is part of an investigation into accusations they evaded about 14 billion Egyptian pounds ($2.1 billion) of taxes during the sale of Orascom Building, an OCI subsidiary, to French firm Lafarge , MENA said.
Reuters could not reach either Sawiris for comment, and an official from Orascom was not immediately available.
A banker and friend of the family said the men were out of the country. Under the order, they would be detained on arrival if they returned.
A lawyer for OCI, Hani Sarie el-Din, told state-owned newspaper Al-Ahram he was "surprised" by the decision.
Negotiations about the taxes from the deal were continuing, the paper's website quoted him as saying. "There was nothing suggesting a dead end in the negotiations."
Last week an official said the government was holding talks with OCI to dissuade it from delisting from the local stock exchange.
Last January the Dutch-listed parent, fertilizer and construction firm OCI NV announced an offer to acquire the ordinary shares of its Egyptian-listed subsidiary.
The Egyptian Financial Supervisory Authority (EFSA) asked last month for more information on the offer, a move that could delay completion of the deal under which some U.S. investors including Bill Gates would pay shareholders who choose to sell their ordinary, Egyptian-listed shares.
Some Arab media had recently claimed that the bank had already been controlled by the Muslim Brotherhood and some of Libya's militant movements
The first H5N8 case in Germany was confirmed on Nov. 4 on a poultry farm in Mecklenburg-Vorpommern. Some 5,000 birds were infected by the disease, of which 1,880 died.
Filling Tirana's main street, they carried banners protesting against lack of jobs, tax rises and what would amount to a rise of electricity prices next year.
High-speed trains were halted, but there were no immediate reports of serious damage from the quake
Benhabyles said the migrants would be airlifted to the southern province of Tamanrasset before they are asked to cross the border back into Niger
Authorities in Tanzania have ordered the eviction of 40,000 Masai people so their ancestral home can be turned into a hunting ground for Dubai royals.
No new idea or remarkable proposal has come from the world powers’ group, the P5+1, yet during talks over Iran’s nuclear issue, says Iranian minister
Search for missing 4-month-old continues along river in North Sumatra province after parents lose lives
This is the first meeting is to be held between al-Subaihi and Corman since the appointment of the former as defense minister in the current Yemeni government.
Peshmerga spokesman Brigadier General Halgurd Hikmat confirmed that Turkish soldiers had started special forces training with peshmerga fighters in northern Iraq
Barhoum described the accusations leveled against the Qassam Brigades as "false", which – according to him – aim at defaming Hamas and its military wing.
Demonstrators also demanded the expulsion of armed militias from Sanaa, in reference to Shiite Houthi militants who have seized control of the capital in September.
The majority of the deaths, 785, were ISIL fighters according to the Britain-based Syrian Observatory for Human Rights.
The bodies of the men from the Albu Fahd tribe were discovered after the army launched a counter-offensive against the ISIL in a village on the eastern edge of Ramadi
His comments stepped up Moscow's war of words with the United States and the European Union in their worst diplomatic standoff since the Cold War ended.
Though murdered revolutionary folk hero Sankara's body was placed in an unmarked grave, it is believed to be buried in a cemetery in the capital Ouagadougou's Dagnoen neighbourhood.