Sawiris's Weather files $5bn claim

A vehicle owned by Egyptian telecoms billionaire Naguib Sawiris has filed a $5bn claim against the Algerian government, alleging that it interfered with the firm’s stake in a telecom operator

Weather Investments II, a vehicle owned by Egyptian telecoms billionaire Naguib Sawiris, has filed a $5bn claim against the Algerian government, alleging that it interfered with the firm’s stake in a telecom operator known as Djezzy.

The complaint, registered in the International Centre for the Settlement of Investment Disputes - the international arbitration arm of the World Bank - accuses the Algerian government of breaching an investment protection treaty between the Belgo-Luxembourg Economic Union and the People's Democratic Republic of Algeria.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached