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Economy and Planning Minister Hosts Reception for Participants of Saudi-Portuguese Joint Committee Meeting

The Saudi Minister of Economy and Planning hosted a reception for representatives of government entities and private sector companies participating in the sixth session of the Saudi-Portuguese Joint Committee and the Saudi-Portuguese Investment Forum in Lisbon. SPA
The Saudi Minister of Economy and Planning hosted a reception for representatives of government entities and private sector companies participating in the sixth session of the Saudi-Portuguese Joint Committee and the Saudi-Portuguese Investment Forum in Lisbon. SPA
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Economy and Planning Minister Hosts Reception for Participants of Saudi-Portuguese Joint Committee Meeting

The Saudi Minister of Economy and Planning hosted a reception for representatives of government entities and private sector companies participating in the sixth session of the Saudi-Portuguese Joint Committee and the Saudi-Portuguese Investment Forum in Lisbon. SPA
The Saudi Minister of Economy and Planning hosted a reception for representatives of government entities and private sector companies participating in the sixth session of the Saudi-Portuguese Joint Committee and the Saudi-Portuguese Investment Forum in Lisbon. SPA

The Saudi Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, hosted on Monday a reception for representatives of government entities and private sector companies participating in the sixth session of the Saudi-Portuguese Joint Committee and the Saudi-Portuguese Investment Forum in the Portuguese capital, Lisbon.

The minister heads the Saudi delegation participating in the sixth session of the Saudi-Portuguese Joint Committee, which aims to strengthen economic relations, explore investment opportunities between the two countries, and enhance cooperation in various fields.

The Saudi Minister also visited the Park of Nations, a neighborhood in Lisbon that was constructed for the 1998 World Expo.

Furthermore, he discussed with Executive Secretary of the Community of Portuguese Language Countries (CPLP) Zacarias da Costa promoting relations between the Kingdom and Portugal.

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Egypt's Net Foreign Assets Fall in September

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
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Egypt's Net Foreign Assets Fall in September

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's net foreign assets (NFAs) fell by $591 million in September having dropped off sharply in August, central bank data showed on Friday.

NFAs declined to the equivalent of $10.31 billion at end-September from $9.72 billion in August, according to Reuters calculations based on the official central bank currency rate at the time, Reuters reported.

NFAs fell by $3.53 billion in August.

Egypt had been using its NFAs, which include foreign assets at both the central bank and commercial banks, to help prop up its currency since at least September 2021. NFAs turned negative in February 2022.

Foreign assets rose slightly at commercial banks in September but dipped at the central bank, while foreign liabilities climbed at commercial banks and eased at the central bank.