Saudi Crown Prince, Egyptian president sign deal to activate $16 billion investment fund

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Saudi Crown Prince Mohammad bin Salman arrives in Cairo. (SPA)
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Saudi Crown Prince Mohammad bin Salman arrives in Cairo. (SPA)
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Saudi Crown Prince Mohammad bin Salman arrives in Cairo. (SPA)
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Saudi Crown Prince Mohammad bin Salman arrives in Cairo. (SPA)
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Saudi Crown Prince Mohammad bin Salman lands in Cairo and is received by President El-Sisi. (SPA)
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Saudi Crown Prince Mohammad bin Salman lands in Cairo and is received by President El-Sisi. (SPA)
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Saudi Crown Prince Mohammad bin Salman lands in Cairo and is received by President El-Sisi. (SPA)
Updated 05 March 2018
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Saudi Crown Prince, Egyptian president sign deal to activate $16 billion investment fund

CAIRO: Crown Prince Mohammed bin Salman landed in Egypt on Sunday where he was received by Egypt’s President Abdel Fattah El-Sisi on the first leg of his maiden foreign tour as heir to the throne.
Within hours of arriving, the two countries signed a memorandum of understanding to activate a 60-billion Saudi riyal ($16 billion) investment fund.
They also signed agreements to continue cooperation in resolving political crises in the Middle East, and a commitment to environmental protection.
Prince Mohammed, the Saudi deputy prime minister and minister of defense, was greeted by El-Sisi as he landed at Cairo International Airport.
During meetings, the two sides reviewed “strategic bilateral relations and discussed developments in the region “especially issues related to security and stability” and “fighting terrorism,” Saudi Press Agency reported.
The Crown Prince’s visit to Egypt was his first since he became crown prince in June of last year.
“The Egyptian president reaffirmed that the security of the Gulf is an integral part of Egyptian national security,” Egypt’s presidential spokesman, Bassam Rady said.
"President El-Sisi expressed Egypt's keenness to enhance bilateral cooperation with Saudi Arabia in all fields, in a way that reflects the level of strategic partnership between the two countries", Rady said.
Rady also highlighted the significance of the visit's timing in light of the "great challenges currently taking place in the Middle East, which require mutual coordination between Egypt and Saudi Arabia."
Ahead of the visit, Egyptian Foreign Minister Sameh Shukri said the Crown Prince and El-Sisi would “discuss the political situation in Yemen, Syria, Lebanon, Iraq and Libya.”
Prince Mohammed will also meet Prime Minister Sharif Ismail, the parliament speaker Ali Abdel-Aal, the grand Sheikh of Al-Azhar, Ahmed Tayeb and Pope Tawadros, the head of the Egyptian church.
The crown prince is expected to visit Ismailia today where he will tour some of Egypt’s national projects including the new channel of the Suez Canal.
In preparation, the Ismailia Governorate has decorated the route along which they will travel with flags.
Later they will attended a performance of the show “Salem Nafsak” (Surrender Yourself) at the Cairo Opera House. 
The Coptic Orthodox Church announced that Prince Mohammed would visit the main St. Mark’s Coptic Cathedral in Cairo. 
Pope Tawadros II met King Salman at his residence during his visit to Cairo in April 2016.
Also on Sunday, US President Donald Trump called El-Sisi to discuss with him “regional issues” and “ways of combating terrorism,” a statement from the Egyptian presidency said.
Prince Mohammed stressed that his keenness to conduct his first foreign visit as Crown Prince "reflects the depth and strength of relations between Egypt and Saudi Arabia, which are bound by common history and one destiny".


Crown prince award ‘will build Saudi-Sino cultural bridges’

Updated 22 February 2019
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Crown prince award ‘will build Saudi-Sino cultural bridges’

ARAB NEWS BEIJING: Leading academics and literary talents from Saudi Arabia and China will be honored under an award scheme sponsored by Saudi Crown Prince Mohammed bin Salman.
Saudi Arabia’s Minister of Culture Prince Badr bin Abdullah bin Farhan announced the Prince Mohammed bin Salman Award for Cultural Cooperation between the Kingdom and China during a visit to King Abdul Aziz Public Library at Peking University in Beijing on Thursday.
The announcement was made on the eve of the Saudi crown prince’s visit to China, the latest stop on an Asian tour.
The cultural cooperation award will honor leading academics, translators and high-achievers from the Kingdom and China in the categories: Best scientific research in Arabic, best artistic work, best Chinese-Arabic book translation and vice versa, person of the year, and most influential person of the year in the cultural milieu.
Prince Badr bin Abdullah bin Farhan said: “This partnership is in the name of Crown Prince Mohammed bin Salman and represents the common commitment to build cultural bridges between the two countries, developing cultural exchange, and promoting artistic and academic opportunities for our citizens.”
He said the yearly award will promote language, literature, and Arabic and creative arts in China, and encourage cultural exchange.
The Kingdom and China have a long history of cultural cooperation, including the annual Arabic Arts Festival.
The King Abdul Aziz Public Library at Peking University was inaugurated in 2017 during King Salman’s official visit to China, where he received an honorary doctorate degree.