Egypt, UK to Boost Bilateral Security, Intelligence Cooperation

Egyptian President Abdul Fattah al-Sisi receives Chief of the British Secret Intelligence Service (MI6) Richard Moore. (Egyptian Presidency)
Egyptian President Abdul Fattah al-Sisi receives Chief of the British Secret Intelligence Service (MI6) Richard Moore. (Egyptian Presidency)
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Egypt, UK to Boost Bilateral Security, Intelligence Cooperation

Egyptian President Abdul Fattah al-Sisi receives Chief of the British Secret Intelligence Service (MI6) Richard Moore. (Egyptian Presidency)
Egyptian President Abdul Fattah al-Sisi receives Chief of the British Secret Intelligence Service (MI6) Richard Moore. (Egyptian Presidency)

Egypt's President received on Monday Chief of the British Secret Intelligence Service (MI6) Richard Moore during which Abdul Fattah al-Sisi stressed the importance of boosting bilateral cooperation with the UK in various fields, primarily security and intelligence.

The meeting was also attended by Head of the Egyptian General Intelligence Services Abbas Kamel and the British Ambassador in Cairo.

Egyptian presidential spokesman Bassam Radi said that the meeting discussed ways to enhance bilateral security and intelligence cooperation on various related issues. Radi added that after welcoming Moore, Sisi asked him to convey greetings to Prime Minister Boris Johnson and stressed that Egypt has placed great importance on bilateral cooperation in various fields.

As extremism continues to spread regionally and globally, Sisi stressed that it is imperative that all countries unite to confront it. He recommended implementing a comprehensive approach that includes isolating extremist ideological mindset.

The president added that values such as moderation and dialogue must be upheld in parallel with strengthening and supporting development efforts and restoring the institutions in those countries suffering from crises in the region.

Both Sisi and Moore exchanged views on updates related to several regional issues of common interest. The meeting addressed tensions in the Eastern Mediterranean region, as well as the crisis in Libya.

Sisi briefed the UK official on Egypt’s vision regarding the Libyan crisis, stressing support to political solutions, respect for sovereignty and territorial integrity, and the need to abide by the ceasefire.

Moore conveyed to Sisi greetings from the British PM, saying his country is proud of its strong ties with Cairo.

He further praised Sisi’s efforts to consolidate regional security and stability, which has assured Egypt’s role as a center of stability within the region as a whole, especially in combating terrorism and illegal immigration.



Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.