UAE’s ADQ invests in Egypt to boost its economy 

The investments come as part of ADQ’s commitment to invest in Egypt’ economy through its $20 billion joint strategic investment platform. (Shutterstock)
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Updated 13 April 2022
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UAE’s ADQ invests in Egypt to boost its economy 

RIYADH: Abu Dhabi-based investment and holding company, ADQ, has invested in several transactions in Egyptian firms, in a bid to support the north African country’s economy. 

The investments come as part of ADQ’s commitment to invest in Egypt’ economy through its $20 billion joint strategic investment platform, it said in a statement.  

Transactions include stakes in one of Egypt’s largest lenders, the Commercial International Bank, the e-payments platform Fawry, logistics company Alexandria Container & Cargo, Misr Fertilizers Production Co., and Abu Qir Fertilizers & Chemical Industries. 

ADQ didn’t specify how much it will spend.

“Since the inception of ADQ’s $20 billion strategic investment platform with the Sovereign Fund of Egypt, we have executed several investment opportunities in Egypt, with the aim to deliver robust commercial benefits and sustainable growth,” CEO of ADQ, Mohamed Hassan Alsuwaidi, said. 

“The recent transactions are a testament to our long-term commitment to elevate our investment partnership with Egypt, and to continue deploying capital in projects of commercial importance,” Alsuwaidi added. 


Operational challenges bring Riyadh Airport to a near standstill

Updated 19 December 2025
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Operational challenges bring Riyadh Airport to a near standstill

  • Airlines issue statements, while sources tell Arab News rain is to blame

RIYADH: Thousands of passengers travelling to and from King Khalid International Airport in Riyadh were left stranded as major airlines struggled to offer alternative flights following a slew of cancellations and delays.

Saudia and flyadeal were among the aviation firms who faced difficulties, with the two airlines putting out statements blaming temporary operational challenges for the issues.

A statement from the airport on its official X account urged travelers to contact airlines directly before heading to the aviation hub to verify the updated status and timing of their flights.

The statement said: “King Khalid International Airport would like to inform you that, due to the concurrence of a number of operational factors over the past two days —including several flights diverting from other airports to King Khalid International Airport, in addition to scheduled maintenance works within the fuel supply system — this has resulted in an impact on the schedules of some flights, including the delay or cancellation of a number of flights operated by certain airlines.”

The airport added that operational teams are working “around the clock in close coordination with our airline partners and relevant stakeholders to address developments and restore operational regularity as soon as possible”, while taking all necessary measures to minimize any impact on the passenger experience.

Airport sources told Arab News that the issue has to do with the heavy rain Riyadh experienced earlier on Friday. Water apparently got into the fuel tankers supposed to refuel jets before they fly, and then several airlines struggled to re-schedule passengers. 

It its own statement on X, Saudia said: “Affected guests are being contacted through various communication chanels, with all ticket changes processed at no additional cost.”

Arab News reached out to Saudia for further information.

Also in a post on X, flyadeal said any of it passengers impacted by the disruption “will be notified directly by emails and SMS with rebooking and support options.”