Egypt’s cabinet announced last week that Saudi Arabia is set to invest $5 billion into its economy. For Egypt’s standing in financial markets, the implications were immediately positive, with sovereign bonds rallying to two-year highs. While the amount may not be on the same scale as the UAE’s $35 billion Egypt investment in March, it represents a big shift in stance by Riyadh. Economic ties between the two nations have lapsed since 2022 when Saudi Arabia declared it would no longer give its allies “free handouts”. However, rather than simply demonstrating returning confidence, renewed interest more likely signals Riyadh wants to boost its influence in Egypt. “For S
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