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Sunday, 17 July 2016

What we’re tracking on Sunday, 17 July 2016: What’s happening in Turkey + House “wheat fraud” investigators get more time?

There was an attempted coup in Turkey. The attempt to dump Islamist President Recep Tayyip Erdoğan failed, and a crackdown on dissent has begun. We have more in today’s Spotlight section, after Speed Round (below). Or tap here to read the unabridged version of our coverage on our website.

House committee continues to investigate “wheat fraud,” to issue report at the end of the month: The House of Representatives committee investigating allegations of fraud and mismanagement in this year’s wheat harvest will present its findings by the end of the month, MP Magdy Maximos tells Al Borsa. The committee was earlier expected to present its report today, but the investigation appears to be ongoing. The committee alleged last week that as much as 50% of the wheat recorded in ledgers was “missing” at the sites it had visited, Al-Shorouk reported yesterday. The committee found additional discrepancies between stores and silo records at three sites in Cairo over the weekend, and importers are now exchanging recriminations with domestic growers.

The issue could claim its victims ahead of the report: The head of the committee told Al-Mal that members will likely recommend sacking Supply Minister Khaled Hanafy (who is already up on the chopping block for the next reported cabinet shuffle), while Prosecutor General Nabil Sadiq ordered the detention of an undisclosed number of silo owners for their involvement in the manipulation of wheat imports, Al Mal reported on Thursday.

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