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Saudi Arabia, Egypt Sign 14 Deals Worth $7.7 Bln

20 June 2022, Egypt, Cairo: Egyptian President Abdel Fattah al-Sisi (R) receives Saudi Crown Prince Mohammed bin Salman in Cairo. (SPA)
20 June 2022, Egypt, Cairo: Egyptian President Abdel Fattah al-Sisi (R) receives Saudi Crown Prince Mohammed bin Salman in Cairo. (SPA)
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Saudi Arabia, Egypt Sign 14 Deals Worth $7.7 Bln

20 June 2022, Egypt, Cairo: Egyptian President Abdel Fattah al-Sisi (R) receives Saudi Crown Prince Mohammed bin Salman in Cairo. (SPA)
20 June 2022, Egypt, Cairo: Egyptian President Abdel Fattah al-Sisi (R) receives Saudi Crown Prince Mohammed bin Salman in Cairo. (SPA)

Egypt and Saudi Arabia have signed 14 agreements valued at $7.7 billion during a visit to Cairo by Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, Egypt's General Authority for Investment and Free Zones said in a statement on Tuesday.

Deals signed on Tuesday included an agreement between Saudi Arabia's ACWA Power and the Egyptian Electricity Holding Company to produce and transmit 1100 MW of windpower, the authority's statement said.

More renewable energy agreements were signed, as well as deals in involving petroleum products, food and fintech.

Other deals involved the development of the multi-purpose terminal at Egypt's Damietta port, the authority's statement said, and the establishment of a $150 million "pharmaceutical city" by Egypt's Pharco Pharmaceuticals in Saudi Arabia, the company's chairman told Alsharq TV.

In March, Saudi Arabia deposited $5 billion in the Egypt's central bank and the Egyptian government has said that cooperation with the Saudi sovereign wealth fund will result in $10 billion in investments.

The Saudi-based ITFC has provided Egypt with $3 billion in new financing for commodity imports, its CEO told Reuters last week.

Saudi Minister of Commerce Majid al-Qasabi said Saudi investments in Egypt top 30 billion dollars through over 6,000 companies operating in the country and trade exchange that rose 85 percent in 2021 to reach 14.5 billion dollars.

Crown Prince Mohammed arrived in Egypt on Monday night, the first stop on a regional tour that will take him to Jordan and Turkey.

President Abdel Fattah al-Sisi welcomed the Saudi royal upon his arrival at Cairo airport.

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Kuwait, Bahrain Come Under Missile and Drone Attacks

General view of Bahrain's capital Manama. Reuters
General view of Bahrain's capital Manama. Reuters
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Kuwait, Bahrain Come Under Missile and Drone Attacks

General view of Bahrain's capital Manama. Reuters
General view of Bahrain's capital Manama. Reuters

The Kuwaiti army said on Wednesday it was responding to missile and drone attacks, after Iran threatened retaliation for a wave of US strikes.

"Kuwaiti air defenses are currently engaging hostile missile and drone attacks," the army said on X.

"The General Staff of the Army notes that any explosions heard are a result of air defense systems intercepting hostile attacks."

Bahrain also sounded missile alerts.

"The siren has been sounded," the interior ministry said on X. "Citizens and residents are urged to remain calm and head to the nearest safe place."

Kuwait's Ministry of Electricity, Water and Renewable Energy said on Wednesday that power had been restored to all residential areas affected by outages caused by a number of overhead lines ⁠going out of ⁠service.

The ministry said supply had been restored after teams completed work to re-feed the affected areas from the electricity grid.

The ministry ⁠had said earlier that several power transmission lines had gone out of service, causing electricity outages in scattered areas of the country. It said teams were working under an approved emergency plan to determine the cause and restore supply.

Separately, ⁠Bahrain's ⁠Electricity and Water Authority said it had dealt with a limited power outage in several areas of the kingdom and that service had been fully restored to all affected areas, according to state news agency BNA.

Gulf

UN Rights Council Adopts Saudi-Drafted Resolution on Women Empowerment in Cybersecurity

Saudi Arabia's cybersecurity sector has witnessed continuous development. (Asharq Al-Awsat).
Saudi Arabia's cybersecurity sector has witnessed continuous development. (Asharq Al-Awsat).
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UN Rights Council Adopts Saudi-Drafted Resolution on Women Empowerment in Cybersecurity

Saudi Arabia's cybersecurity sector has witnessed continuous development. (Asharq Al-Awsat).
Saudi Arabia's cybersecurity sector has witnessed continuous development. (Asharq Al-Awsat).

The United Nations Human Rights Council unanimously adopted on Tuesday a resolution submitted by Saudi Arabia on "Women Empowerment in Cybersecurity" during its 62nd session.

The resolution builds on the global initiative "Women Empowerment in Cybersecurity", launched by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

Submitted by the Kingdom's Permanent Mission to the United Nations and other international organizations in Geneva, the resolution advances the initiative's objectives by promoting greater participation of women in the cybersecurity sector, enhancing their skills, supporting their professional development, and helping address the global cybersecurity skills gap, thereby strengthening cyber resilience worldwide.

The unanimous adoption of the resolution reflects broad international support for the initiative and recognition of its contribution to enhancing global cyber resilience.

Addressing the council, Saudi Permanent Representative to the United Nations and international organizations in Geneva Ambassador Abdulmohsen bin Khothaila said the initiative demonstrates Saudi Arabia's commitment to strengthening international cooperation, providing technical assistance, and supporting capacity-building efforts to empower women in cybersecurity while respecting national priorities.

He noted that the resolution translates the vision of the Crown Prince's initiative into an international framework by promoting women's participation in cybersecurity, expanding female expertise in the sector, and supporting women's career progression toward leadership positions.

The consensus adoption of the resolution underscores the Kingdom's commitment to supporting international efforts to empower women in cybersecurity, building on its pioneering initiatives and leadership in this field.

The Global Cybersecurity Forum (GCF) Institute oversees the implementation of the Crown Prince's two global cybersecurity initiatives, Child Protection in Cyberspace and Women Empowerment in Cybersecurity, in cooperation with a range of international partners, including specialized United Nations agencies.

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Saudi Govt Discusses Intensifying Joint Coordination in Service of Global Security, Peace

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chairs the Cabinet meeting in Jeddah. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chairs the Cabinet meeting in Jeddah. (SPA)
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Saudi Govt Discusses Intensifying Joint Coordination in Service of Global Security, Peace

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chairs the Cabinet meeting in Jeddah. (SPA)
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chairs the Cabinet meeting in Jeddah. (SPA)

The Saudi government reviewed on Tuesday the Kingdom’s over the past few days, particularly those related to strengthening relations with countries across various fields, and intensifying joint coordination to serve international peace and security, address global challenges, and pave the way for further development and prosperity.

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chaired the Cabinet session that was held in Jeddah.

The Cabinet commended the participation of the Saudi delegation in the United Nations Counter-Terrorism Week, during which it stressed the Kingdom's commitment to close cooperation with international organizations to combat terrorism, eradicate its roots, cut off its funding sources, and support global efforts to build a secure and stable future.

The Cabinet welcomed the unanimous adoption by the UN Human Rights Council, at its 62nd session, of a Saudi-submitted resolution on women empowerment in cybersecurity.

The resolution builds on the global initiative launched by Crown Prince Mohammed, aiming to advance its objectives internationally and translate its vision into tangible, practical steps.

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chairs the Cabinet meeting in Jeddah. (SPA)

The Cabinet highlighted the Kingdom's achievement of first place globally in the International Telecommunication Union’s (ITU) ICT Development Index (IDI) 2026, issued by the ITU, saying it reflects the continuous development of its digital infrastructure and regulatory environment.

The achievement supports the Kingdom's international leadership in future technologies and artificial intelligence, amid the accelerating growth of the Saudi digital economy, which has solidified its position as the largest market in the Middle East and North Africa (MENA) region.

The Cabinet considered Saudi Arabia's re-election as chair of the Executive Council of the Arab Civil Aviation Organization (ACAO) for a second consecutive term as an extension of the Kingdom's leading role in supporting the civil aviation sector at the regional and international levels, as well as its effective contributions and initiatives to advance the air transport industry.

The Cabinet noted the World Bank's commendation of the Kingdom's artificial intelligence experimental environment in education (AI Sandbox) as a pioneering model and international benchmark, supporting the development of higher-quality and more sustainable digital education, employing modern technologies, and empowering educational institutions and innovators to find practical solutions in the field.

The Cabinet reviewed overall performance indicators for a number of strategic and vital sectors. It praised the nonprofit sector's continued progress toward achieving its development goals at an accelerated pace. It also noted growth in the contribution of nonprofit organizations to the gross domestic product, with the number of nonprofit organizations exceeding 7,200 by the end of 2025 and the number of volunteers reaching 1.7 million.