Saudi Arabia, Egypt Sign $10 Billion Deal on Mega-City

Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP
Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP
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Saudi Arabia, Egypt Sign $10 Billion Deal on Mega-City

Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP
Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP

Saudi Arabia has signed with Egypt an investment agreement to develop Egyptian lands in south Sinai to become part of a planned mega-city and business zone unveiled by Saudi Arabia last October.

The two countries have set up a $10 billion joint investment fund (Egyptians' share of this fund include the long-term leases) to invest in lands located on the Egyptian side as part of the mega-city project. The announcement was made during a visit paid by Crown Prince Mohammed bin Salman, Deputy Crown Prince and Minister of Defense, to Cairo where he met President Abdul Fattah al-Sisi.

Reuters reported a Saudi official as saying that Egypt has committed more than 1,000 square kilometers of land in the southern Sinai Peninsula to NEOM project.

Prince Mohammed previously announced plans for the 26,500 square km zone, known as NEOM, at an international investment conference in Riyadh. Officials said public and private investment in the area was eventually expected to total $500 billion.

The mega-city, with its own judicial system and legislation designed to attract international investors, is to focus on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism, according to officials.

It is part of bold moves by the 32-year-old heir apparent to wean the world’s top crude exporter off oil revenues.

Riyadh and Cairo also signed an environmental protocol on Sunday aimed at preserving the Red Sea’s coral reefs and preventing “visual pollution”, the official said.

Riyadh’s part of the new joint investment fund will be cash to help develop the Egyptian side of NEOM, which was conceived as spanning across Saudi Arabia, Egypt and Jordan.

Saudi Arabia plans to set up seven maritime tourist attraction areas in the Red Sea, as part of NEOM, including cities and tourism projects.

Moreover, Saudi Arabia will establish more than 15 seafront and hundreds of resorts. And on the Jordanian side, Amman will focus on developing Aqaba.

In Egypt, the project will focus on the regions of Sharm el-Sheikh and Hurghada, which will become the sites of new attractions.

In cooperation with Jordan and Egypt, Saudi Arabia will work on attracting European cruise and tourism companies operating in the Mediterranean, during the summer season, in order to work later on the Red Sea project.

The Red Sea Project, made up of some 50 islands, will offer a nature reserve, coral reefs and heritage sites. Authorities have said it would break ground in 2019 and complete its first phase by late 2022.

Notably, the Kingdom is currently negotiating with more than seven tourism and cruise companies and planning to build yacht marinas.



Iranian Attacks Target Energy Facilities in Kuwait, UAE

Mina al-Ahmadi refinery in Kuwait (KUNA) 
Mina al-Ahmadi refinery in Kuwait (KUNA) 
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Iranian Attacks Target Energy Facilities in Kuwait, UAE

Mina al-Ahmadi refinery in Kuwait (KUNA) 
Mina al-Ahmadi refinery in Kuwait (KUNA) 

Iranian attacks struck key energy infrastructure in Kuwait and the United Arab Emirates on Friday, prompting air defense responses across the Gulf and causing casualties and material damage, authorities said.

In Kuwait, drones targeted the Mina al-Ahmadi refinery as well as a power generation and water desalination plant. In Abu Dhabi, operations were suspended at the Habshan gas facilities after debris fell following a successful interception, officials said. The incident killed an Egyptian resident and injured four others from Egypt and Pakistan, and sparked two fires.

Emirates Global Aluminium said it shut down its Al Taweelah site — one of the world’s largest aluminum production complexes — after it sustained severe damage in what it described as Iranian missile and drone attacks.

The incidents come amid Gulf efforts to repel Iranian strikes targeting energy installations and vital infrastructure, which have caused injuries and limited material damage.

Saudi air defenses intercepted and destroyed 14 drones on Friday, according to defense ministry spokesman Major General Turki al-Maliki.

Kuwait

Kuwait’s defense ministry spokesman Colonel Saud al-Atwan said seven ballistic missiles, two cruise missiles and 26 hostile drones were detected in the country’s airspace over a 24-hour period.

Interior ministry spokesman Brigadier Nasser Bousleib said nine reports of falling debris were recorded in the same period, bringing the total since the start of the Iranian attacks to 649. Warning sirens were activated five times in 24 hours, for a total of 164 activations since the attacks began.

Kuwait Petroleum Corporation said the Mina al-Ahmadi refinery was hit by drones early Friday, causing fires in several operational units. Emergency and firefighting teams were deployed immediately and were working to contain the blaze and prevent it from spreading. No casualties were reported, the company underlined.

It added that precautionary measures were taken to ensure worker safety and protect facilities, and that coordination was ongoing with environmental authorities to monitor air quality. No negative environmental impact had been recorded so far.

The electricity and water ministry said one of its power generation and water desalination plants sustained material damage, according to spokeswoman Fatima Hayat, adding that technical teams were working to maintain operations.

Meanwhile, National Guard spokesman Brigadier Jadaan Fadhel denied reports circulating on social media of a possible radiation leak, saying readings in the country’s airspace and territorial waters remained within normal levels. He told state news agency KUNA that monitoring systems were operating around the clock.

United Arab Emirates

The UAE said its air defenses intercepted 18 ballistic missiles, four cruise missiles and 47 drones launched from Iran on Friday, bringing the totals since the start of the attacks to 475 ballistic missiles, 23 cruise missiles and 2,085 drones.

The defense ministry said the attacks had killed two members of the armed forces and a Moroccan civilian contractor, as well as eight others of various nationalities.

A total of 203 people have been injured since the attacks began, with injuries ranging from minor to severe.

The Abu Dhabi Media Office said authorities dealt with debris falling at the Habshan gas facilities after a successful interception, prompting a temporary suspension of operations and a fire at the site.

It later said an Egyptian resident was killed during the evacuation, while four others — two Egyptians and two Pakistanis — were injured. Two fires broke out but were brought under control by emergency response teams. The office said the incident caused significant damage to facilities, with assessments ongoing.

In a separate incident, debris fell in the Ajban area, injuring six Nepalese residents and five Indians, with one Nepalese sustaining serious injuries.

Emirates Global Aluminium said its Al Taweelah complex in Khalifa Economic Zone Abu Dhabi (KEZAD) suffered severe damage, triggering a full emergency shutdown of operations, including the aluminum smelter, casting facilities, power plant, alumina refinery and recycling plant.

The company said restoring full primary aluminum production could take up to 12 months, depending on damage assessments, while some operations at the alumina refinery and recycling plant may resume earlier.

Bahrain

Bahrain’s National Communication Center said 16 drones targeting the country were intercepted and destroyed over 24 hours, bringing the total since the start of Iranian attacks to 188 missiles and 445 drones.

The Bahrain Defense Force said targeting civilian sites and private property with ballistic missiles and drones constituted a flagrant violation of international humanitarian law and the UN Charter, warning the attacks posed a direct threat to regional peace and security.

Authorities urged residents to remain indoors except when necessary, avoid damaged areas and suspicious objects, refrain from filming military operations or debris sites, and rely on official sources for information.

The interior ministry said four Bahraini citizens sustained minor injuries and homes were damaged in the Sitra area due to falling debris from an intercepted Iranian drone. Civil defense and ambulance services were responding at the scene.

Qatar

Qatar’s defense ministry said the country was targeted by several Iranian drones, all of which were successfully intercepted.

The environment and climate change ministry said air quality remained within normal and safe limits and was being continuously monitored through a nationwide network.

In a post on platform X, the ministry advised precautionary measures during periods of increased fine particulate matter, including staying indoors — especially for vulnerable groups — keeping windows closed, wearing masks when outside and avoiding outdoor activities.

 

 

 


Saudi Foreign Minister, Pakistani Counterpart Review Relations, Discuss Latest Developments

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah (R) and Minister of Foreign Affairs of Pakistan Ishaq Dar (L). (Saudi Ministry of Foreign Affairs)
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah (R) and Minister of Foreign Affairs of Pakistan Ishaq Dar (L). (Saudi Ministry of Foreign Affairs)
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Saudi Foreign Minister, Pakistani Counterpart Review Relations, Discuss Latest Developments

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah (R) and Minister of Foreign Affairs of Pakistan Ishaq Dar (L). (Saudi Ministry of Foreign Affairs)
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah (R) and Minister of Foreign Affairs of Pakistan Ishaq Dar (L). (Saudi Ministry of Foreign Affairs)

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah held phone talks on Friday with Deputy Prime Minister and Minister of Foreign Affairs of Pakistan Ishaq Dar, the Saudi Press Agency reported.

During the call, the two sides reviewed the brotherly relations between the two countries, discussed the latest developments, and affirmed continued coordination and consultation in this regard.


Saudi Crown Prince, Italian PM Discuss Fallout of Military Escalation in the Region

Saudi Crown Prince and Prime Minister, Prince Mohammed bin Salman, meets Italian Prime Minister Giorgia Meloni in Jeddah (SPA)
Saudi Crown Prince and Prime Minister, Prince Mohammed bin Salman, meets Italian Prime Minister Giorgia Meloni in Jeddah (SPA)
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Saudi Crown Prince, Italian PM Discuss Fallout of Military Escalation in the Region

Saudi Crown Prince and Prime Minister, Prince Mohammed bin Salman, meets Italian Prime Minister Giorgia Meloni in Jeddah (SPA)
Saudi Crown Prince and Prime Minister, Prince Mohammed bin Salman, meets Italian Prime Minister Giorgia Meloni in Jeddah (SPA)

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz met Italian Prime Minister Giorgia Meloni in Jeddah on Friday to review bilateral ties and explore ways to strengthen cooperation.

The two officials also discussed regional developments, including the risks of ongoing military escalation to global trade, energy security, and the world economy, while stressing coordination to support Middle East stability.

Meloni’s visit marks the first by a European Union leader to the region since the outbreak of the US-Israeli war on Iran on February 28, according to Reuters.

In an interview with Italian state television, Meloni said her country stands with Gulf states against Iranian attacks, describing them as “friends and strategic partners,” and calling her visit “a gesture of solidarity.”

Speaking from Jeddah, she stated that her trip is primarily focused on oil, noting that Gulf countries supply about 15% of Italy’s needs. She stressed the importance of securing stable energy supplies.

Meloni arrived in Jeddah Friday and was received at King Abdulaziz International Airport by Prince Saud bin Mishaal bin Abdulaziz, Deputy Governor of the Makkah Region and other Saudi figures.