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Saudi Arabia, Sudan Discuss Investment in Energy

Saudi Ambassador to Sudan Ali bin Hasan Jaafar
Saudi Ambassador to Sudan Ali bin Hasan Jaafar
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Saudi Arabia, Sudan Discuss Investment in Energy

Saudi Ambassador to Sudan Ali bin Hasan Jaafar
Saudi Ambassador to Sudan Ali bin Hasan Jaafar

Saudi Arabia has expressed willingness to cooperate with Sudan and invest in projects in the fields of energy, oil and minerals.

Sudanese Energy Minister Jadain Ali Obeid held talks with the Saudi Ambassador to Sudan, Ali bin Hasan Jaafar, a ministry statement read on Monday.

The Ambassador stressed the importance of activating the “Sudanese-Saudi Standing Committee” to exploit the resources of the Red Sea, as well as the MoU on gas and oil exploration.

Jaafar pointed to the initiative proposed by Saudi Crown Prince Mohammed bin Salman, Deputy Premier and Defense Minister, during a visit by Sudanese Prime Minister Abdalla Hamdok and other senior officials to Riyadh earlier this month.

The Crown Prince committed to investing $3 billion in a joint fund for investments in Sudan and to encouraging other parties to participate.

Jaafar also suggested opening offices in Khartoum to some of the major Saudi companies, including Aramco, Saudi Basic Industries Corporation (SABIC) and the Saudi Arabian Mining Co. (Maaden) and expanding relations with the Ministry of Energy and Petroleum.

Obeid said his ministry will propose energy investment projects during the Paris Conference scheduled to be held in May.

He welcomed the invitation to visit the Kingdom, learn about the Saudi experience and benefit from its expertise in the fields of oil and energy.

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Egypt's Non-oil private Sector Contracts Further in April

FILE PHOTO: Egyptians and tourists visit the Great Pyramids in Giza, on the outskirts of Cairo, Egypt, November 4, 2024. REUTERS/Amr Abdallah Dalsh/File Photo
FILE PHOTO: Egyptians and tourists visit the Great Pyramids in Giza, on the outskirts of Cairo, Egypt, November 4, 2024. REUTERS/Amr Abdallah Dalsh/File Photo
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Egypt's Non-oil private Sector Contracts Further in April

FILE PHOTO: Egyptians and tourists visit the Great Pyramids in Giza, on the outskirts of Cairo, Egypt, November 4, 2024. REUTERS/Amr Abdallah Dalsh/File Photo
FILE PHOTO: Egyptians and tourists visit the Great Pyramids in Giza, on the outskirts of Cairo, Egypt, November 4, 2024. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's non-oil private sector economy contracted further in April after a decline in domestic and foreign demand caused new orders and output to fall for a second month, according to a survey released on Tuesday.

The S&P Global Egypt PMI headline index dropped to 48.5 in April from 49.2 in March, marking the lowest reading so far in 2025. A figure below 50 indicates contraction and one above 50 indicates growth, reported Reuters.

"Business activity weakened for the second month running in April as firms highlighted an additional drag from falling sales," said David Owen, Senior Economist at S&P Global Market Intelligence. International market weakness impacted business confidence and spending, he said.

Despite rising input costs, driven largely by a 15% increase in fuel prices, firms kept sale prices stable, ending 56 months of inflation. Employment and purchasing activity also decreased, with companies reducing staff for a third consecutive month.

While input prices rose at their fastest pace in four months, output prices remained unchanged, reflecting subdued pressure on costs, the survey indicated. Firms expressed cautious optimism about future activity, with confidence ticking up to a three-month high, although still below long-term trends.

Supply chains remained stable, with delivery times unchanged and inventories slightly increasing. The sub-index for output dipped to 47.4 from 48.6, while that for new orders fell to 47.24 from 49.0.