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The country’s main industry federation said the business community welcomed the result. So have most newspapers, one calling it “a day of hope for all Egyptians”.
Source: Euronews.com, Sisi Secures Crushing Win in Egypt Presidential Vote

Is this grammatical? Is it an expression? What does it mean?

  • I love pizzas ~ So do I. – Maulik V May 29 '14 at 12:28
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The country’s main industry federation said the business community welcomed the result.
So have most newspapers…

Here, so is a pro-form. It's used instead of repeating an earlier verb phrase ("welcomed the result"), and it adds the meaning "too". It also triggers Subject-Auxiliary Inversion.

To paraphrase it, we can remove so, undo the inversion, put in the missing constituent, and add too to preserve the meaning:

Most newspapers have welcomed the result, too…

Now we've paraphrased your sentence. (Well, the first half, anyway.)

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