Via Muhammad Al Gebaly and Jaidaa Taha in reuters.com: The Egyptian cabinet said in a statement on Monday that Saudi Crown Prince Mohammed bin Salman has directed the Saudi Public Investment Fund (PIF) to pump $5 billion worth of investment money into Egypt in what it called a first stage. The statement came after Egyptian Prime Minister Mostafa Madbouly met the Saudi crown prince in Riyadh and discussed boosting bilateral relations. The statement contained no further details on when the funds are going to be invested, the nature of the investments or in how many stages the Saudi government is planning to make its investments.
