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  • Egypt says no deal with Saudi Arabia on Ras Gamila resort yet

    The Egyptian government denied on Sunday that any foreign investment deal in prime Red Sea coastal land in Ras Gamila has yet been officially approved amid local and regional reports saying otherwise.

    The official spokesman for the Ministry of Public Enterprise, Mansour Abdelghany, told state-run Ahram online that “no offer for the development of Ras Gamila would be considered until an international advisory firm is tasked with designing "an optimal investment plan for the zone.”

  • Egypt reclaims 3,400-year-old stolen statue of King Ramses II

    Egypt welcomed home a 3,400-year-old statue depicting the head of King Ramses II after it was stolen and smuggled out of the country more than three decades ago, the country's antiquities ministry said on Sunday.
    The statue is now in the Egyptian Museum in Cairo but not on display. The artefact will be restored, the ministry said in a statement.
    The statue was stolen from the Ramses II temple in the ancient city of Abydos in Southern Egypt more than three decades ago. The exact date is not known, but Shaaban Abdel Gawad, who heads Egypt's antiquities repatriation department, said the piece is estimated to have been stolen in the late 1980s or early 1990s.

  • Egypt’s Sisi starts third term pledging more investment, social spending

    Egyptian President Abdel Fattah al-Sisi was sworn in for his third term on Tuesday in the country's new capital, the largest of the mega-projects that have come to symbolise his rule while stretching the country's finances.
    Speaking at the new parliament building, Sisi highlighted the challenges Egypt withstood in recent years while promising continued development, which many Egyptians say they feel excluded from.

  • Blinken to visit Saudi Arabia, Egypt to discuss Gaza ceasefire: Official

    US Secretary of State Antony Blinken will travel to Saudi Arabia and Egypt this week to discuss efforts to secure a ceasefire in Gaza and increase humanitarian aid to the Palestinian territory, a State Department spokesperson said Tuesday. Blinken will hold talks with Saudi leaders in Jeddah on Wednesday before travelling to Cairo on Thursday for talks with Egyptian authorities, spokesman Matthew Miller said from the Philippines, where Blinken is touring. This will be Blinken’s sixth trip to the Middle East since the start of the war between Israel and Hamas on October 7.

  • Algeria, Egypt,  Saudi to host FIFA’s new friendly series

    Egypt became the fifth country to be selected as host of a new series of friendly games introduced by FIFA to allow teams from different confederations to play each other, the world football governing body said today, Reuters reported. It joins Algeria and Saudi Arabia which have previously been chosen as hosts. The pilot phase was expanded to feature 24 national teams from three continents, FIFA said in a statement. The Egypt edition – which will take place from 22-26 March – will also include Croatia, Tunisia and New Zealand.

  • Saudi Arabia Tackles How to Pay for Vision 2030; UAE-Egypt Deal Dynamics

    Saudi Arabia is embarking on an unrivaled spending spree on everything from mega projects to sports and technology in a bid to prepare for a post-oil future. It appears the country is only just getting started, with annual deployment of capital by the powerful sovereign wealth fund set to hit $70 billion a year from 2025. But even the giant petrostate has limits to what it can afford and that’s prompting the Public Investment Fund, the government and local banks to look for new ways to raise money.

  • Blinken To Visit Saudi Arabia, Egypt To Discuss Gaza Ceasefire: Spokesman

    US Secretary of State Antony Blinken will travel to Saudi Arabia and Egypt this week to discuss efforts to secure a ceasefire in Gaza and increase humanitarian aid to the Palestinian territory, a State Department spokesperson said Tuesday. Blinken will hold talks with Saudi leaders in Jeddah on Wednesday before travelling to Cairo on Thursday for talks with Egyptian authorities, spokesman Matthew Miller said from the Philippines, where Blinken is touring. This will be Blinken's sixth trip to the Middle East since the start of the war between Israel and Hamas on October 7.

  • Egyptian Natural Gas Holding to expand in Saudi Arabia

    The Egyptian Natural Gas Holding Co. (EGAS) has established a subsidiary in Saudi Arabia with initial capital of SAR 2 million ($530,000), Egypt's Ministry of Petroleum said on Sunday. Owned 80% by EGAS, the newly established natural gas company "Modern Gas" Saudi Arabia is part of the Egyptian firm's strategy for offshore expansion, especially in Gulf Cooperation Council (GCC) countries, aimed at attracting foreign currency inflows into Egypt.

  • Saudi Arabia, Qatar, Egypt among world’s top arms importers: SIPRI

    Saudi Arabia was the second-largest arms importer in the world from 2019 to 2023, accounting for 8.4% of imports, while Qatar was third with 7.6%. India was the largest importer with a 9.8% global market share, according to SIPRI’s data. Read more: https://www.al-monitor.com/originals/2024/03/saudi-arabia-qatar-egypt-among-worlds-top-arms-importers-sipri#ixzz8UGU8gXJ5

  • Saudi Arabia, Qatar, Egypt among world’s top arms importers: SIPRI

    Gulf states and Egypt accounted for more than 25% of global arms sales in the past four years, according to a report released Monday. The Stockholm International Peace Research Institute's (SIPRI) quadrennial report on international arms transfers details the import and export of weapons around the world between 2019 and 2023.