7am Wrapup May 30
By THE CAIRO POST

News:

Interim President Adly Mansour issued on Thursday a presidential decree cancelling a decree that had been issued by former President Mohamed Morsi to pardon 52 defendants.

The Cairo Criminal Court in Tagammu el-Khames decided Thursday to postpone issuing a verdict on Haidy Rasekh’s appeal over a decision to freeze her assets until June 25.

Violent clashes erupted between Beheira security forces and alleged members of the Muslim Brotherhood in Damanhur during a Thursday march protesting Abdel Fatah al-Sisi‘s landslide win in the presidential election.

A number of Egyptian naval warships arrived at Toulon port in France Thursday to begin a joint maritime exercise.

Politics:

Presidential candidate Hamdeen Sabbahi said in a Thursday press conference following the end of the presidential election Wednesday that he respects the people’s choice and admits his loss in the election.

Continued restrictions on fundamental freedoms for Egyptians have “prevented free political participation and severely comprised the broader electoral environment,” according to the preliminary findings of the U.S.-based Democracy International’s electoral mission to Egypt.

Ibn Khaldun Center for Development Studies Executive Director Dalia Ziada said the turnout for the presidential election ranged between 48 and 53 percent, and appeared low because of an increase in polling stations, during a press conference on Thursday.

Business:

Minister of Industry Mounir Fakhry Abdel Nour announced Wednesday that the Cabinet approved a draft law for regulating microloans given to microenterprise owners.

Following the initial results of the presidential election, the exchange rate gap between the Egyptian pound and U.S. dollar narrowed for the first time in two months.

Editors’ Pick:

EU EOM Chief Observer Mário David of Portugal said the election was “in line with the law,” but “in an environment falling short of constitutional principles,” due to the election being extended one day.

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