Egypt Watch

Egypt authorities arrest tycoon Salah Diab

On Tuesday, the Egyptian security forces arrested the famous businessman Salah Diab, owner of the private daily al-Masry al-Youm. The same newspaper said Diab was arrested over several financial cases, without giving details.

In the Egyptian press, it is reported that pressure has been exerted by sovereign bodies on Diab to sell the newspaper, which he does not want to do. The Egyptian authorities have not announced the details of the charges against the businessman, amid expectations that some settlement will be made.

It is Diab’s second arrest, as the Egyptian authorities arrested him, his son, and 12 other businessmen, against the background of several charges, including “aggression on public funds,” in November 2015. The prosecutor referred Diab, at that time, to a criminal trial on charges of possessing weapons and ammunition. He was released on bail of EGP 50,000 (about $3,200) before he was acquitted in September 2017.

Dabab enjoys close ties with the country’s sovereign bodies and massive investment activities with Israel and America in several sectors, including oil and agriculture. Diab writes articles under the pseudonym Newton. He was previously referred to investigation and fined EGP 250,000 (about $16,000) months ago, after he made a proposal that Sinai be isolated, in a step towards granting it autonomy.