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Egypt Property Mogul Back in Charge After Murder Pardon

Egyptian billionaire Hisham Talaat Moustafa is back in charge of the country’s biggest publicly traded property developer, days after he received a presidential pardon for his role in the murder-for-hire of a Lebanese pop star.

Moustafa was named chief executive officer, a position he held before his 2008 arrest, after the company’s lawyers determined that the June 23 presidential pardon removed any legal barriers to his appointment, the company said in an Egypitan stock exchange statement. The stock surged 10 percent in Cairo trading, the most in seven months, and was up 6.9 percent at 7.94 Egyptian pounds as of 12:37 p.m.