39219
Salman, Sisi Sign Deals
World Economy

Salman, Sisi Sign Deals

Egyptian President Abdel Fattah al-Sisi and Saudi King Salman agreed to set up a $16 billion investment fund Saturday and settled a long-standing maritime dispute. The announcement came as the king continued his visit to the country, in which he had also announced a plan to build a bridge over the Red Sea to Egypt, AFP reported. Also signed was an arrangement by Cairo to demarcate its maritime borders with Saudi Arabia, officially placing two islands in the Straits of Tiran—named Tiran and Sanafir—in Saudi territory. The two nations agreed “to set up a Saudi-Egyptian investment fund with a capital of 60 billion Saudi riyals ($16 billion),” the announcer said, giving no further details. More than a dozen other accords, including a memorandum of understanding to set up an industrial zone in Egypt, were also announced. An Egyptian government official had said the deals agreed with Saudi Arabia, excluding the investment fund, would amount to $1.7 billion.

 

Short URL : http://goo.gl/bLp9mt
  1. http://goo.gl/7mL8j8
  • http://goo.gl/HT8TbE
  • http://goo.gl/08WD4J
  • http://goo.gl/aunPzl
  • http://goo.gl/N9Rnns

You can also read ...

Deutsche Bank CEO John Cryan (L) and ECB President Mario Draghi at a conference in Frankfurt on Sept. 6.
The head of Germany’s biggest private lender wants the...
President Emmanuel Macron (C) signs a set of executive orders making sweeping changes to France’s complex labor laws on Friday.
France’s private sector expanded the most since May 2011,...
Portugal Budget Deficit Narrows
Portugal’s budget deficit narrowed to 1.4% of gross domestic...
The People’s Bank of China
China’s small banks are struggling to raise funds through...
Analysts say the outlook for Britain’s public finances had “weakened significantly” with Brexit likely to put further pressure  on the country’s economic strength.
Moody's cut Britain's long-term credit rating Friday, citing...
Italy Hikes Growth Forecast
Italy on Saturday raised its forecasts for economic growth...
ASEM Urges Free Trade
Economic leaders at the Asia-Europe meeting reached a broad...
Brazil Frees Up $4b in Gov’t Spending
Brazil’s government has freed up 12.8 billion reais ($4.1...

Trending

Googleplus