CAIRO - Egypt's Citadel Capital stock plunged 10 per cent on Sunday after the public prosecutor ordered that its chairman, Ahmed Heikal, be banned from travel pending a probe of corruption allegations. The news of the ban was reported after the close of trade on Thursday. Citadel's share fell to 4.68 Egyptian pounds on Sunday. Meanwhile, Egypt's EFG-Hermes board member and head of brokerage Sherif Cararah has resigned, Chief Executive Yasser el Mallawany said on Sunday. Mallawany said the resignation would help to reduce costs at Egypt's biggest investment bank. "It was a normal succession. It was planned last year," he said. "He managed to make EFG-Hermes a better place during his 15 years here."
