The international press zeroes in on Egypt-bound Gulf investments: Abu Dhabi wealth fund ADQ has made big investments in the Egypt’s lucrative tourism sector this year — including, but not limited to the landmark USD 35 bn Ras El Hekma agreement — and Saudi Arabia could soon be following suit in south Sinai, thinks Bloomberg, as the Gulf powerhouses seek to shore up the country’s economy and ensure regional stability through investments rather than handouts.

Luxury tourism in particular could benefit from the new influx of funds, bringing Egypt’sstandards up to those of luxury customers, Abu Dhabi Commercial Bank Chief Economist Monica Malik told the outlet.

It’s not just Egypt’s travel destinations that are attracting Gulf attention: Both the UAE andSaudi Arabia have reportedly shown interest in the stake sale of Egypt’s military-built petrol station chain Wataniya, while Qatar could also be joining the mix, with its eye on a stake in Vodafone Egypt.

ALSO PUTTING EGYPT IN THE NEWS- Shawarma restaurant set up by displaced Gazan gives Palestinian refugees a taste of home: A restaurant opened by a Palestinian businessman who fled Israel’s war on Gaza and had his restaurants and house destroyed in the siege has set up shop in Cairo, offering Egyptians and Palestinans alike a taste of authentic Gazan shawarma, writes Reuters.

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