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 ...

Innovation, Technology Should Boost Hong Kong Economy
Innovation and technology will become profitable in Hong Kong...
Annual expansion in the second quarter fell to 4.5%.
Malaysia cut its full-year growth forecast and reported much...
Government data shows the number of jobs created in July fell to the lowest levels in over eight years.
South Korea’s ranking officials revealed a disparity in their...
Canada Inflation Surges
Canada’s inflation rate surged to 3% in July, fueled by rising...
As technological progress makes people richer in terms of many basic goods and services, it may be inevitable  that more human activity is devoted to zero-sum competition for available income and assets.
Across the global economy, the potential for automation seems...
Trade War Won’t Dent China GDP
Analysts are trying urgently to evaluate the potential impact...
Italy to Launch New Infrastructure Plan
The government will launch a plan aimed at making Italy’s...
Amazon to Challenge TiVo With Live TV Recorder
Amazon.com Inc. is developing a new device that records live...