Committee to Freeze and Manage the Muslim Brotherhood Organization’s Assets froze on Wednesday the assets of Mostafa Sakr, one of the shareholders of Business News Group.
Business News, which has been working in the media and journalism field since 2008, owns both Daily News Egypt, the country’s only independent English daily print newspaper, and Al Borsa newspaper, an Arabic financial newspaper.
The company denied belonging to any political group or affiliation in a reaction statement to the asset freeze, adding that it took legal measures against the committee’s decision.
President Abdel Fattah Al Sisi had written to Daily News Egypt in September 2014 encouraging foreign investment and addressing other economic issues in Egypt. A year later, Sisi discussed further economic reforms through the paper again.
During the reign of ousted President Mohammed Morsi, the newspaper had published numerous pieces criticizing the Muslim Brotherhood and their leaders.