7pm News Wrapup May 21
By THE CAIRO POST

CAIRO: Former President Hosni Mubarak received a three year jail sentence on charges of embezzling 125 million EGP ($17 million) in public funds to finance private palaces.

The court also sentenced his two sons, Alaa and Gamal, to four years in prison on the same charges. It also fined the three defendants 125 million EGP and ordered them to pay 21 million EGP to the state’s public fund.

News:

An Al-Azhar University student threw a shrapnel bomb behind the dean of the Faculty of Commerce Wednesday, as he was inspecting exams, but the bomb didn’t fully explode, Saeed Abdel Aaal, the dean, said.

Sheikh Sultan bin Mohammed Al-Qasimi, ruler of Sharjah and a member of the Supreme Council of the United Arab Emirates has donated 4,000 books to the Institut d’Égypte.

A high-level delegation, headed by Assistant Foreign Minister for Asian Affairs Ahmad Ismail Abdel Moati, participated Wednesday in the fourth summit meeting of the Conference on Interaction and Confidence Building Measures (CICA) in Asia to discuss boosting cooperation between Egypt and China.

Politics:

The High Presidential Election Commission (HPEC) officially announced Wednesday that 93 percent of Egyptian expat votes went to former Minister of Defense Abdel Fatah al-Sisi, while his rival, leftist candidate Hamdeen Sabbahi, got 5 percent of votes.

Presidential candidate Hamdeen Sabbahi says he still believes he can win the presidential election despite early expat voting results showing his opponent, Abdel Fatah Al-Sisi, with over 90 percent of the vote.

A number of revolutionary movements called for a Thursday rally at 6 p.m. on October 6 Bridge, to demand the end of the protest law and the release of political detainees. The rally, organized under the title “Clothing line”, is part of activities by revolutionary groups, including the April 6 Youth Movement and Revolutionary Socialists.

Business:

The Egyptian Exchange (EGX) indexes ended on a collective decline Wednesday, amid selling pressure by local foundations and foreign individuals following a market surge that lasted seven sessions in a row.

Private sector investment in Egypt, during the past three years, totaled 449.7 billion EGP ($ 63 billion), indicating that the economy is showing signs of recovery,  the Egyptian Businessmen Association (EBA) reported in its annual report.

In-Depth:

A sentence upheld Tuesday against Egyptian activist Mahinour al-Masry and six others, sentencing them to two years in jail and a 50,000 EGP ($7,017.65) fine for violating the 2013 Protest Law, has sparked anger from human rights groups.

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