CAIRO: Egypt's wealthy billionaire Naguib Sawiris, who had been on self-imposed "exile," returned to Egypt on Friday and was reportedly "warmly welcomed" by the government he had opposed and left the country because of last year. Sawiris returns to a much-divided Egypt, where an economic crisis threatens the already breaking stability in the country after hundreds of protests have taken place in the past few weeks. The billionaire had put himself in "exile" after the election of Muslim Brotherhood candidate Mohamed Morsi last year, saying he would not participate in the political scene in the country as a result. Sawiris had begun a political party after the January 2011 uprising ousted former President Hosni Mubarak. As one of Egypt's most prominent Coptic Christians and a critic of Morsi and the Brotherhood, an envoy from the president presented him with flowers upon arrival, al-Ahram newspaper reported. Economists said his return was a boost to business sentiment which has been battered by political instability. He came back days after officials cleared the firm run by one of his brothers of tax evasion. Authorities also lifted a travel ban against the brother, Nassef, chief executive of Orascom Construction Industries and their father Onsi, founder of the family's empire, Orascom Group. OCI is Egypt's biggest listed company and the Orascom Group is the country's largest private employer. Sawiris, who left Egypt last summer, is the executive chairman of another family firm, Orascom Telecom Media and Technology Holding. It is unclear what his next moves will be and if he will return to the political scene as parliamentary elections approach. BN
