Egypt’s New Tyrants Show Their Horns
Egypt’s wealthiest man, Onsi Sawiris, is a Coptic Christian and it doesn’t seem like the government likes this fact very much. The general prosecutor of Egypt has placed Mr. Sawiris on a no-fly list. This caused Egypt’s main stock index to drop by 2.3%.
The entrepreneur has sent his family away from the country because they received threats from their countrymen who don’t share the family’s Christian views. Now it seems the government has gotten involved in the persecution and is trying to cheat Orascom Construction, a company owned by one of Mr. Sawiris’ sons, out of billions of dollars. They are doing this by claiming unpaid taxes from a 2007 deal to sell a manufacturing subsidiary.
Written by: Toma Karamanolev