Speaking of foreign investment: Egypt is one of five top destinations for Chinese M&A under the Belt and Road initiative, according to a report by released by Thomson Reuters, the Chinese Academy of Social Sciences and Tsinghua University. Egypt joins Kazakhstan, Russia, Israel, and Singapore in making the top five, Xinhua reports. Finance, energy and telecom services were the sectors that saw the most M&A activity from China in the Belt and Road countries. China's M&A transactions in the Belt and Road initiative to USD 9.8 bn in 2016 up from USD 2.3 bn in 2014, overtaking the US and Japan in the number of acquisitions in 2016, according to the report.

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