The sons of deposed Egyptian president Hosni Mubarak were released from prison on Monday, prison officials said, a day after the violent anniversary of the 2011 uprising that toppled the autocrat. An Egyptian court last week ordered the release of Alaa and Gamal Mubarak pending their retrial in a corruption case. Their release could further fuel tensions in Egypt. Mubarak is still in detention in a military hospital, but judicial sources said he could soon walk free as he currently has no convictions against him.
Egypt's pound weakened to 7.43 per dollar from 7.39 at a central bank auction on Monday, the weakest level it has been allowed to reach since auctions began in December 2012. It was the sixth consecutive official depreciation in the past week, prompted by the gap between the black market and the official rate. The bank offered 40 million dollars and sold 38.4 million at a cut-off price of 7.4301 pounds per dollar, the central bank said. The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates.
BRUSSELS (AP) — The stunning election in Greece of a radical anti-austerity party raises new uncertainties for the eurozone, but the initial impression is that a compromise deal over the country's debt can be forged to avert a chaotic exit from the euro.