Political update
Egyptian Presidential Elections Turn-out
President of the Supreme Constitutional Court and Supreme Committee for the Presidential Elections announced last Monday the results of the Egyptian Presidential Elections’ first round. It appears from the turn-outs that none of the candidates has acquired the simple majority (50%+1) and therefore, a second round between the two candidates with the highest voting numbers will take place, namely, Mohamed Morsy, candidate of the Freedom and Justice Party (FJP) who has seized around 5.7 million votes and Ahmed Shafik, former senior commander in the Egyptian Air Force and former prime minister of Egypt in the period between February and March 2011, who came in second place, seizing around 5.5 million votes.
The run-offs are expected to take place on the 17th and 18th of June. Due to the slight difference in number of votes, predictions of a winning candidate are unclear.
Final verdict in Former President Mubarak’s Trial
The long awaited ruling in the trial of former president Mubarak, former Minister of Interior Habib El Adly and Mubarak’s sons Gamal and Alaa Mubarak is finally taking place this coming Saturday 2 June 2012. The charges against the defenders are financial corruption and murder of protestors during the Egyptian revolution.
Mubarak’s sons face criminal charges for manipulation of stock prices
Former president Mubarak’s sons, Gamal Mubarak and Alaa Mubarak were charged yesterday with unlawful enrichment gained from manipulation of prices in the stock exchange.
Moreover, Gamal and Alaa were also charged with unlawful enrichment for purchase of 2 villas in Sharm El-Sheikh with undervalued prices from businessman Hussein Salem who is an accomplice in the directed charges.
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