The Saudi Cabinet approved a memorandum of understanding between the Ministry of Finance and its counterpart in Egypt regarding establishing a high-level financial dialogue, the Saudi Press Agency (SPA) reported on Tuesday. This comes as the Egyptian government prepares in to launch new projects after signing the major investment deal between Egypt and UAE to develop the Ras al-Hikma area. Egyptian cabinet spokesperson Mohamed al-Hommosany announced that the government earlier in March received another five billion dollars from the first installment of the Ras al-Hikma investment partnership deal with the UAE – thereby completing the first tranche worth a total of $10 billion. Prime Minister
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