World Bulletin / News Desk
An Egyptian court sentenced former oil minister Sameh Fahmy to 15 years in prison on Thursday for selling cheap gas to Israel and squandering public funds, a judicial source said.
Fahmy was arrested and held in custody in April 2011 and his trial began the next month.
Prosecutors said former president Hosni Mubarak's government sold gas at preferential rates to Israel and other countries, costing Egypt billions of dollars in lost revenue.
Suspicions of high-level corruption helped drive protests that unseated Mubarak in February 2011 and led to a string of lawsuits against him and several of his associates.
Mubarak was tried and handed a life prison sentence this month for his role in the killing of hundreds of protesters against his rule.
Hussein Salem, a major shareholder in East Mediterranean Gas (EMG), which exported the gas to Israel, was given a 15-year prison sentence in absentia by the court. Salem fled to Spain after the uprising.
Ten other petroleum ministry officials received jail terms of between three and 10 years in prison and fines totalling 2.5 billion Egyptian pounds ($412.47 million) on Thursday, the judicial source said. ($1 = 6.0610 Egyptian pounds)
After 61pc voted 'no' in the Greece referendum, the reactions of the world leaders continue.
Britain is ready to hold a number of memorial services marking the 20th anniversary of Srebrenica
Top euro zone shares fell 1.7 percent in early trading on Monday after Greek voters rejected austerity measures
An U.N expert on foreign debt, says reporters the creditors should have paid more attention to what international law says on the matter of debt.
30 naval vessels, 1700 military from Nato countries, join Bulgaria’s Breeze 2015 exercise in Black Sea
An Iraqi plane through a technical fault has dropped bombs on Baghdad killing at least 7
Interior ministers of Serbia, Austria and Hungary have signed a memorandum of understanding in the field of border protection.
The Indian Prime Minister will visit Central Asian countries will be focused on energy and mining projects.
Chief negotiator with Greece's European creditors in the bailout talks will become a new Finance Minister
EP President Martin Schulz thinks it is very difficult and dangerous to reopen banks in upcoming days
EU opponents from France to Finland and across Europe's southern and northern, say that EU project, including the euro is now dying after Greek referendum.
FIFA's ex president Sepp Blatter claims French former president Sarkozy and his German counterpart Wulff tried to influence their voting representatives
After Greek referendum, futures for the Euro STOXX 50, Germany's DAX and France's CAC were 2.5 to 3.1 percent lower. Britain's FTSE futures fell 1.1 percent.
After Greeks rejected bailout terms in a referendum, Merkel and Hollande want euro zone leaders' summit on Tuesday
There have been two bomb explosions in Jos, one close to the University of Jos.
Greece’s main opposition leader and ex-MP Samaras resigns after early referendum results show decisive rejection of int’l bailout terms