Egypt: Mubarak-era tycoons in China with Morsi, media report - Egypt
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Egypt: Mubarak-era tycoons in China with Morsi, media report
Along with Muslim Brotherhood sympathizing entrepreneurs
29 August, 18:20
(ANSAMed) - ROME, AUGUST 29 - The Arab spring may have toppled Hosni Mubarak's regime, but many of his former financial allies in the business elite are still in place, flying to China to do deals alongside newly elected President Mohamed Morsi, Egyptian daily Al Ahram reported on Wednesday. Al Ahram goes on to name various former Mubarak allies among the delegation of 80 magnates and businessmen now in China, where Morsi landed yesterday, seeking loans and trade agreements. Among them is Mohammed Farid Khamis, CEO of Oriental Weavers, which is one of the world's biggest carpet companies. He was a former MP for Mubarak's now dissolved National Democratic Party (NDP), as was Sherif El Gabaly, head of one of Egypt's biggest chemical industrial conglomerates, and formerly a close friend of Gamal Mubarak, the toppled dictator's son who was thought to be in line to succeed him. These and other Mubarak-era tycoons were invited along with new-era businessmen by entrepreneur and Muslim Brotherhood member, Hassan Malek, who was asked to form the presidential business delegation to China. (ANSAMed).