Egypt’s El-Sisi extends services of financial regulator, Suez canal heads

Egyptian President Abdel Fattah El-Sisi speaks at a news conference during a visit to Athens, Greece, Nov. 11, 2020. (Reuters)
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Updated 09 August 2021
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Egypt’s El-Sisi extends services of financial regulator, Suez canal heads

  • The prime minister extended the tenure of Mohamed Farid, chairman of the the Egyptian Exchange

CAIRO: Egypt’s President Abdel Fattah El-Sisi issued decrees extending the service of Financial Regulation Authority (FRA) chairman Mohamed Omran and Suez Canal Authority chairman Osama Rabie by one year, the presidency said in a statement on Sunday.
Rabie has held the post since August 2019, while Omran has been chairman of FRA since August 2017.
Meanwhile, Prime Minister Mostafa Madbouly extended the term of Mohamed Farid, chairman of the the Egyptian Exchange, for another four years. He succeeded Omran in 2017 when the latter’s tenure had expired.


Saudi energy minister holds series of high-level meetings to cement collaborations

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Saudi energy minister holds series of high-level meetings to cement collaborations

RIYADH: Saudi Arabia’s Minister of Energy held a series of strategic meetings in Riyadh with senior ministers from various counties, in a diplomatic push to bolster international energy collaboration.

Officials from Greece, Brazil, and Morocco were among those to meet with Prince Abdulaziz bin Salman, as well as representatives from Libya and Pakistan.

The discussions centered on expanding cooperation across a wide spectrum of energy sectors, from traditional hydrocarbons to cutting-edge clean technologies, according to the Saudi Press Agency.

The engagements underscored Saudi Arabia’s proactive role in shaping the global energy transition through bilateral partnerships. A consistent theme across the talks was the dual focus on securing energy supplies and advancing climate-related solutions, including renewable power, clean hydrogen, and carbon management.

Deepening European and South American ties

Prince Abdulaziz bin Salman met with Greece’s Minister of Environment and Energy, Stavros Papastavrou. Building upon a previously signed Memorandum of Understanding, the two officials explored avenues for joint cooperation in oil and gas, electricity, and renewables, as well as other related sectors.

In a separate meeting with Brazil’s Minister of Mines and Energy, Alexandre Silveira, the parties discussed prospects for collaboration across various energy domains. They reviewed means to enhance coordination, particularly in electricity, renewables, oil and gas, and the exchange of technical expertise.

Signing a program with Morocco

A key outcome emerged from the meeting with Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali. Following their discussions on mutual interests, investment opportunities in renewables, and energy efficiency, the two sides signed an executive cooperation program.

This program, falling under an MoU signed in May 2022, aims to concretize the energy partnership. Its goals are boosting mutual investments in renewable projects and enabling national companies to collaborate on renewable energy projects.

It also encompasses using renewables in development projects, establishing joint research and development centers, and facilitating training and knowledge transfer.

Strengthening regional and Islamic cooperation

Prince Abdulaziz also conferred with Libya’s Minister of Oil and Gas, Khalifa Rajab Abdulsadek. Their meeting focused on energy cooperation, including energy technologies and solutions, as well as enhancing investment opportunities in renewables and energy efficiency.

Discussions with Pakistan’s Minister of Petroleum, Ali Pervaiz Malik, covered shared interests in oil and its supplies, renewable energy, energy efficiency, joint investment opportunities, and the exchange of expertise in project, policy, and regulatory development.

This flurry of diplomatic activity highlights Saudi Arabia’s comprehensive energy strategy, which seeks to maintain its leadership in traditional energy markets while pursuing a stake in the future clean energy economy.