Corruption

Beltone's stock retreated 5.16% during Sunday's early trades
4 November 11:57 AM Beltone's stock drops 5% on IPO unit suspension
By: Heba El-Kordy Cairo – Mubasher: Beltone Financial Holding's stock retreated 5.16% during Sunday's early trades on the Egyptian Exchange (EGX) after the Financial Supervisory Authority's (FRA) decision to suspend the company's IPO unit. By …
The founder of The Abraaj Group Arif Naqvi
17 October 10:18 AM Abraaj founder denies WSJ allegations of corruption
Dubai - Mubasher: The Abraaj Group’s founder Arif Naqvi has denied media reports published in the Wall Street Journal on allegations of corruption. Earlier this week, the WSJ reported that Naqvi offered a $20 million to a Pakistani businessman for …
Pakistan to investigate UAE, UK property purchases in corruption probe
7 October 02:26 PM Pakistan to investigate UAE, UK property purchases in corruption probe
Mubasher: The Pakistani government is currently looking into thousands of properties in the UAE and UK that it believes are owned by politically tied Pakistanis and others owned by citizens. The government launched and Asset Recovery Unit, …
SCA to investigate Marka capital cut-and-hike
7 October 11:49 AM SCA to investigate Marka capital cut-and-hike
Dubai – Mubasher: The UAE’s Securities and Commodities Authority (SCA) has said that Dubai-listed Marka’s board proposal to cut capital then raise it again required subsequent legal measures. The SCA stated that it would examine the proposal both …
Alaa and Gamal Mubarak have denied any wrongdoing
16 September 12:19 PM Mubarak’s sons arrested over EGX manipulation
Cairo – Mubasher: The Cairo Criminal Court has ordered the arrest of ousted Egyptian President Hosni Mubarak’s two sons for violating the rules of the Egyptian Exchange (EGX) and the Central Bank of Egypt (CBE) to make unlawful profits through …
Bloomberg said that Al Tabari and his daughter owed up to $272.3 million
12 July 12:59 PM DSI former CEO denies owing firm AED 1bn
Mubasher: The former CEO of Drake & Scull International (DSI), Khaldoun Al Tabari, has denied news claiming that he owes the contractor a sum of money, Construction Week Online reported. Earlier this week, Bloomberg reported that Al Tabari and his …
DSI investigation finds ex-CEO owes AED 1bn
9 July 07:08 PM DSI investigation finds ex-CEO owes AED 1bn
Dubai – Mubasher: Drake & Scull International’s (DSI) ongoing internal investigation into alleged violations by its previous management has revealed that its former CEO Khaldoun Al Tabari and his daughter, together owe the firm around AED 1 …
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 2017 07:35 PM Global markets take a hit on Saudi arrests - Report
By: Mohamed Soliman Mubasher: The recent wave of surprising Saudi resolutions, which involved the arrest a number of princes and ministers through the government’s new anti-corruption campaign has negatively impacted global markets. King …
Al Tayyar Group’s operations and services will continue uninterrupted in Egypt
7 November 2017 03:51 PM Investigating Nasser bin Aqeel not to affect Egypt investments - Al Tayyar
Cairo - Mubasher: Ashraf Shiha, managing director of Al Tayyar Travel Group in Egypt, said in a phone call with Lamis Elhadidi’s show on CBC that his company’s investments will not be affected by investigations with the mother company’s chairman …
Under the decision, Orange Egypt will pay EGP 49 million to TE
30 July 2017 02:11 PM Court obliges Orange to pay EGP 49m to TE
Cairo – Mubasher: Orange Egypt for Telecommunications on Sunday said that the Economic Court has dismissed its appeal against Telecom Egypt (TE). Under the decision, Orange Egypt will pay EGP 49 million to TE. In January, the Economic Court issued …
Last year, Beltone filed two lawsuits against the EGX and EFSA
5 July 2017 10:48 AM Belton lawsuit against EGX, EFSA referred to State Commissioner's body
Cairo – Mubasher: The CEO of El-Sherif Law Firm and Consultants, Atef El-Sherif, said Wednesday that the Administrative Court has referred the lawsuit filed by Beltone Financial Holding against the Egyptian Exchange (EGX) and the Egyptian …