Egyptian Prime Minister Mostafa Madbouly met Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani on Thursday to discuss activating a $7.5 billion Qatari investment package and deepening bilateral co-operation across political and economic sectors.
The meeting, held at the Egyptian government's headquarters in New Alamein, underscored the growing strategic ties between the two nations, with both leaders highlighting their shared commitment to advancing joint economic ventures and addressing pressing regional challenges.
Mr Madbouly welcomed his Qatari counterpart and praised the “qualitative leap” in Egypt-Qatar relations over the past year, emphasising the importance of building on the outcomes of Egyptian President Abdel Fattah El Sisi’s visit to Qatar in April.
That visit saw Doha pledge $7.5 billion in direct investments, which both sides are now working to implement.
“This investment package represents a significant step in our partnership and reflects Qatar’s confidence in the Egyptian economy,” Mr Madbouly said, according to a statement from his office.
“We are committed to creating an environment that facilitates these investments and enhances the trust of Qatari businesses in the opportunities available here.”
The Qatari Prime Minister expressed his gratitude for the warm reception and underscored his country's dedication to strengthening ties with Egypt.
“The leadership in both countries is determined to expand the frameworks of co-operation in various fields,” Sheikh Mohammed said during a joint press conference with Egyptian Foreign Minister Badr Abdelatty after the meeting.
Mr Abdelatty provided further details of the investment package, which targets key sectors such as agriculture, food security, real estate, tourism, and hospitality.
“Qatar’s commitment to pump $7.5 billion into the Egyptian economy has been confirmed. We have, in fact, begun this process and outlined specific ventures to be announced in the coming weeks during a grand ceremony that reflects the depth of our relations,” Mr Abdelatty said.
He also cited the Egyptian government’s recent reforms aimed at attracting foreign investment, including changes to tariffs, taxes and customs fees, as well as incentives introduced through updated investment legislation.
Trade between Egypt and Qatar has surged by 54 per cent over the past year, Mr Abdelatty noted, calling it a testament to the growing economic partnership between the two nations.
The talks also addressed continuing regional conflicts, particularly the war in Gaza, which both sides described as the Arab world’s most urgent issue.
Egypt and Qatar, working closely with the US, have been at the forefront of ceasefire negotiations aimed at halting Israel’s military campaign in the enclave.
“We are trying to achieve a deal that includes a 60-day ceasefire during which further negotiations can be held to release the Israeli hostages and deliver aid to the enclave,” Mr Abdelatty said.
Both he and Sheikh Mohammed stressed their countries’ opposition to any attempts to forcibly displace Palestinians from their land.
Sheikh Mohammed reaffirmed Qatar’s commitment to humanitarian efforts and praised Egypt’s role in facilitating aid to Gaza. “This is a time for unity and decisive action to alleviate the suffering of the Palestinian people,” he said.
The meeting concluded with both sides agreeing to hold further discussions through the Egyptian-Qatari Joint Higher Committee, which signed multiple agreements on Thursday, including a co-operation deal on social insurance and a memorandum of understanding in agriculture.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
COMPANY%20PROFILE
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
COMPANY%20PROFILE
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Scoreline
Arsenal 0 Manchester City 3
- Agüero 18'
- Kompany 58'
- Silva 65'
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
Types of fraud
Phishing: Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
Smishing: The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
Vishing: The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
SIM swap: Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
Identity theft: Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
Prize scams: Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
* Nada El Sawy
