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Egypt President in Saudi Arabia to Reaffirm Ties

Egypt President in Saudi Arabia to Reaffirm Ties”

He was received at the airport by Saudi King Salman bin Abdulaziz Al Saud.

The Saudi stock index jumped in early trade on Sunday on overnight news that King Salman had issued a royal decree restoring financial allowances for Saudi civil servants and military personnel. Another son and long-time oil policy official, Prince Abdulaziz bin Salman, was appointed state minister for energy affairs.

On Friday, Egyptian Foreign Minister Sameh Shoukry said the visit would also be a good opportunity to discuss global and regional developments in light of the new United States foreign policies under the Trump administration, especially after El-Sisi's recent visit to Washington.

"Prince Abdullah bin Faysal bin Turki removed as ambassador to the US".

President al-Sisi met the Saudi king on March 30 on the sidelines of an Arab summit in Jordan, in which Salman invited Sisi to visit Saudi Arabia.

Muhammad al-Suwaiyel, the minister of communication and information technology, was also replaced, with Abdullah al-Swaha taking that position. Ahmad Asiri was appointed as deputy head of Saudi Intelligence. Officials said on Saturday that the cuts had been cancelled because of better-than-expected budgetary performance in the first quarter of 2017.

"The royal order returns all allowances, financial benefits, and bonuses to civil servants and military staff", said the decree, broadcast on state-run Ekhbariya TV.

The measures were the first pay cuts for government employees, who make up about two-thirds of working Saudis.

Only Saudi men and women would work in malls across the kingdom, the ministry said in a Twitter message. Even after the government further eased the requirements to access the market a year ago, foreigners hold less than 5 percent of the total market capitalization.

A further decree issued late Saturday named Ibrahim al-Omar as governor of the Saudi Arabian General Investment Authority (SAGIA), an agency that manages Saudi Arabia's foreign investments.



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