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Egyptian Resorts up 9 per cent after former executive freed

Shares of troubled tourism firm bounce back on news of ex-head's release after questioning

Reuters, Sunday 15 May 2011
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Shares in Egyptian Resorts soared 9 per cent on Sunday after Egypt's military prosecutor decided to release its former board member Ibrahim Kamel from detention.

The prominent businessman had been held for questioning after being accused of inciting violence against anti-government protesters during a popular uprising.

 
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