7 am News Wrapup June 1
By THE CAIRO POST

News:

Security forces at Wadi el-Natroun Prison in Menoufia stormed prison cells and assaulted prisoners on Saturday after detainees announced plans to start a hunger strike in the coming days.

President of the Egyptian Company for Metro Management and Operations Ali Fadaly called on Minister of Transport Ibrahim el-Demeiry to raise the prices of metro tickets.

Politics:

The High Presidential Election Committee rejected Friday the appeal filed by Hamdeen Sabbahi’s campaign against its extension of the presidential election for a third day.

Insulting Egypt’s flag is punishable by up to a year in prison and 30,000 EGP ($4,190) according to a Saturday presidential decree.

Business:

The Egyptian Exchange (EGX) dramatically plunged this week, and market capitalization lost around 21.6 billion EGP ($3 billion) after an investors’ selling spree following a government decision to mull a 10 percent annual tax on stock market profits and dividends.

Editor’s Pick:

A video showing Dr. Mervat el-Talawy dismissing two members of the EU Election Observation Mission (EOM) from a conference held Saturday to discuss women’s participation in the presidential election was aired on Al-Masry al-Youm TV.

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