Qatars Al Jazeera network has lodged a formal complaint against Egypt demanding USD 150 million in compensation to cover for damages to its investments in the country since July 2013. Al Jazeera said in a statement posted on its website that it lodged a formal “notification of dispute” with Egypt’s interim government based on a […]
Al Jazeera said in a statement posted on its website that it lodged a formal “notification of dispute” with Egypt’s interim government based on a bilateral investment treaty between Qatar and Egypt dating back to 1999. That pact calls on both governments to provide “fair and equitable treatment” to investors, according to the network. It did not say where it was lodged.
Egypt has six months to settle the compensation or Qatar will seek international arbitration.
Egyptian authorities accuse the Doha, Qatar-based network of providing a platform for the Brotherhood. The interim military-backed Egyptian government has branded the Islamist group a terrorist organisation – a charge the Brotherhood denies.
Egypt’s interim government in August called a local affiliate of the network known as Al Jazeera Mubasher Misr a national threat, with government ministers alleging it operated illegally and in violation of professional standards. It also detained several Al Jazeera journalists accusing them of terrorist activities.