08
Mar
17:18
Egypt drops case against Ahmed Ezz: reports
An Egyptian court has dropped a seven-year-long case and lifted a travel ban against steel tycoon Ahmed Ezz, according to Reuters citing unnamed judicial sources. In 2013 the former Ezz Steel chairman was sentenced to 37 years in prison for profiteering and squandering public funds.
Ezz paid EGP 1.7 billion ($96.8 million) to authorities in a deal reached to settle the case, the sources are quoted as saying. He had already been released on bail in July.
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Anonymous
Very good overview of the weekly steel market.
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