Spain to handover Egyptian businessman Hussein Salem

According to a number of sources, Egypt has accepted Spain's conditions for the extradition of businessman -and former friend of Hosni Mubarak - Hussein Salem. The Egyptian authorities have promised Salem a fair trial, clearing the way for his handover.

Spain ordered Salem's extradition last month. Following his arrest in June on suspicion of money laundering and corruption, police froze €32.5 million in his bank accounts and properties worth €10 million.

The funds were allegedly obtained illegally in Egypt and sent to Salem's accounts in Spain through companies created by a Turkish "frontman". Salem is believed to have absconded on 3 February 2011, just over a week before Mubarak was forced to resign.

Salem was charged in Egypt with fraud in May, along with Mubarak and his two sons, Alaa and Gamal. The outcome of the trial, which ended last month, is expected in June. Salem was detained in Spain in June 2011 with his son Khaled, and a Turkish businessman and associate Ali Evsen.

On 2 March 2012, Spain's National Court informed the Egyptian ambassador that it had "agreed to hand Hussein Salem and his son Khaled to Egypt". It is estimated that Salem has allegedly appropriated $714 million in public funds out of a deal to sell gas to Israel. It is thought that Mubarak allowed a company in which Salem was a major shareholder to buy gas from the government below market price, and then resold it to Israel at a substantial mark-up.

Sources: BBC News, AP, Reuters

For more news and expert analysis about Egypt, please see Egypt Politics & Security.

Egypt: Hosni Mubarak's trial resumes

Following the reopening of former president Hosni Mubarak's trial in Cairo, his defence team began arguing the case. Mubarak stands accused of ordering the killing of demonstrators during national unrest, which led to his resignation last year.

According to Egypt's State media, the defence's arguments are expected to be heard over the course of three days.

Prosecutors insist Mubarak face the death penalty, along with his co-defendants, the former interior minister Minister Habib al-Adly and six senior policemen. Mubarak's two sons, Gamal and Alaa, are facing separate charges of corruption in the same trial.

The former Egyptian ruler was wheeled into court on a stretcher. His laywers said Mubarak was unable to be upright for fear of suffering a stroke.

The charges against the defendant are as follow:

Hosni Mubarak: Conspiring in killing of protesters (15 years in prison or death penalty); abusing power to amass wealth (5-15 years)
Alaa and Gamal: abusing power to amass wealth (5-15 years)
Al-Adly and six police officials: conspiring in killing of protesters (15 years or death penalty)
Business mogul Hussein Salem: tried in absentia for corruption (5-15 years in prison).

According to a number of Egyptian sources, Mubarak's lawyer Farid al-Deeb is expected to reveal several surprises as he makes his case; however, he refused to elaborate when speaking to Al-Madry Al-Youm newspaper. He said: "Nobody knows what I will say."

Sources: BBC News, Reuters, AP

For more news and expert analysis about Egypt, please see Egypt Politics & Security.

Egypt signs gas deal with Israel

Egypt's East Mediterranean Gas (EMG) company has signed a multi-billion dollar agreement with an Israeli company to buy Egyptian natural gas for the next 20 years.

The contract stipulates that EMG will provide Leisrael with 1.4 billion cubic metres of gas per year for the next 20 years. The gas delivery is expected to begin in the first or second quarter of 2011. The $4.2 billion contract is estimated to reach $10 billion over time.

The new deal is part of an agreement EMG signed with US-Israeli consortium Yam Thetis in 2008. The deal stipulated that Egypt would sell 2 billion cubic metres of natural gas and fertiliser to Israel until 2015.

EMG is a joint company owned by Egyptian businessman Hussein Salem, Egypt Natural Gas Company, Thailand's PTT, Israel's Merhav Group, Ampal-American Israel Corp and American businessman Sam Zell.

Source: PressTV

For more news and expert analysis about Egypt, please see Egypt Politics & Security.