Egypt's gold reserves inch up to $18.166 bln in December – CBE    Egyptian pound edges up against dollar in midday Thursday trading    Electricity, petroleum ministers review preparations to meet higher summer energy demand    Public Enterprises Ministry, Future of Egypt discuss boosting industry cooperation    France, allies coordinate response to the United States threats to seize Greenland    Egypt initiates executive steps to establish specialised Food University in partnership with Japan    Egyptian, Omani foreign ministers back political settlements in Yemen and Sudan    Egypt warns of measures to protect water security against unilateral Nile actions    Egypt's SCZONE posts EGP 6.25 bln revenue in FY2025/26    Egypt's Health Ministry, Philips to study local manufacturing of CT scan machines    African World Heritage Fund registers four new sites as Egypt hosts board meetings    Maduro faces New York court as world leaders demand explanation and Trump threatens strikes    Turkish firm Eroglu Moda Tekstil to invest $5.6m in Egypt garment factory    Egypt, Saudi Arabia reaffirm ties, pledge coordination on regional crises    Al-Sisi pledges full support for UN desertification chief in Cairo meeting    Al-Sisi highlights Egypt's sporting readiness during 2026 World Cup trophy tour    Egypt opens Braille-accessible library in Cairo under presidential directive    Egypt confirms safety of citizens in Venezuela after US strikes, capture of Maduro    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Listing Safwan Sabet on terrorist list does not include the companies he is associated with: Juhayna board of directors
The company continues to operate; no impact on employees, government, and non-government trade
Daily News Egypt Published in Daily News Egypt on 18 - 01 - 2017

The Juhayna board of directors issued a press release stating that the listing of the company's CEO Safwan Sabet in the list of terrorists is related to him as a person, and does not include the companies he is associated with.
A verdict was issued by the Criminal Court on Thursday, listing Sabet along with 1,420 others for a period of three years in the pending case No. 653 of 2014, on charges of belonging and being loyal to a terrorist organisation, namely the Muslim Brotherhood.
Meanwhile, the Egyptian Exchange has suspended transactions on Juhayna stocks on Wednesday, attributing the decision to the company not notifying the EGX of the ruling.
In a press release, the EGX stated that trading on the company's stocks will remain suspended until the company submits the ruling to them.
Trading has stopped after it fell to the allowed low of 10%, reaching EGP 7.8—its lowest in a month.
According to Juhayna's press release, Sabet was neither notified with the ruling nor learned about accusations, or had even been investigated or interrogated by any government body.
The statement said that Sabet will take all legal procedures after he is officially notified of the ruling, by appealing it before the Court of Cassation.
Sabet had earlier received a report by the Board of State Commissioners ruling the invalidity of seizing his assets back in 2014.
The board of directors of Juhayna said that the company will continue to operate across all factories, farms, and branches to offer food commodities to the local market.
According to the statement, this ruling will not have any impact on the company or its employees, as well as all trading with government or non-government entities. The ruling will also not impact shareholders, the statement read.

Clic here to read the story from its source.