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".


Art exhibition in Riyadh sees high turnout ahead of Saudi National Day

Updated 22 September 2018
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Art exhibition in Riyadh sees high turnout ahead of Saudi National Day

  • The Nation of Honor and Dignity Exhibition is taking place at Riyadh’s Ritz-Carlton hotel until Tuesday.
  • The exhibition contains more than 140 works by 125 male and female artists.

JEDDAH: The Nation of Honor and Dignity Exhibition, organized by the Saudi Art Association (GSFT), saw a high turnout on Saturday on the occasion of the Kingdom’s 88th National Day.
The exhibition, which contains more than 140 works by 125 male and female artists, is taking place at Riyadh’s Ritz-Carlton hotel until Tuesday.
GSFT Chairwoman Manal Al-Rowaished said the association works to promote Saudi fine arts and support artists by organizing exhibitions, interactive shows, workshops and cultural evenings.
The GSFT makes sure to participate in National Day celebrations, and the title of this year’s exhibition reflects the honor and dignity that the Kingdom provides locally and internationally, she added. The exhibited works reflect “the reality, culture and history of the Kingdom,” she said.
Al-Rowaished congratulated the king and crown prince on the occasion of the National Day, and thanked Prince Faisal bin Mohammed bin Saud, the GSFT’s honorary president and its main supporter.
Artist Saad Al-Hussein’s work highlights the Kingdom’s architectural heritage. Ghadi Mousaed Al-Zahrani, an artist with special needs, presented a live painting show for visitors, as did Abdul Aziz Al-Debl.
Artist Ghaliya Al-Mazeed encouraged visitors with special needs of all ages to paint or write something that expresses their love of their nation.
Nasser Al-Kherji’s work represents Saudi culture and heritage, and the security and services provided at the Two Holy Mosques.
Artist Fahd Al-Ammar presented an interactive painting that represents Saudi heritage, with authentic Arab horses and Arabic script.