Opinion
Climbing sand: Russia’s faltering advance in Africa’s Sahel
For years, Russia has sought to establish itself as a power broker in Africa, using the Sahel as a showcase
1 min read
Egypt received a substantial financial boost from the United Arab Emirates on Wednesday, securing a $14 billion payment for the ongoing development of the Ras al-Hikma peninsula, situated to the west of Alexandria.
This transaction is part of a larger agreement involving the Abu Dhabi sovereign fund ADQ, which totals $35 billion in investments, marking it as one of the most significant of its kind, according to a statement from the Egyptian cabinet.
The plan involves converting the deposit into Egyptian pounds (EGP), further bolstering Egypt's economic stability and cooperation with the UAE.
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