Egypt, UAE Sign $500 Million Wheat Deal

Egypt has officially sealed a significant deal worth USD 500 million (EGP 15.4 billion) with the Abu Dhabi Exports Office (ADEX), aimed at financing wheat imports over a span of five years.

The announcement was made through a statement by the State Information Service on Tuesday, 15 August.

This collaboration was solidified following productive discussions with the United Arab Emirates (UAE) in July.

The financial resources will be allocated to cover wheat imports from the Abu Dhabi-based agricultural company Al Dahra and ADEX.

The total sum will be disbursed in five separate segments of USD 100 million (EGP3 billion) each, spanning across the course of five years.

According to Ali Al-Moselhy, the Minister of Supply and Internal Trade, ADEX's financing package assures the supply of premium-quality goods at an economical price point, accompanied by a practical payment plan.

[7:15 PM, 8/20/2023] Ahmed Mohsen: Israel Greenlights $850 Million Scheme to Develop East Jerusalem

The Israeli cabinet has given the green light to a comprehensive five-year program, amounting to 3.2 billion shekels ($850 million), which serves as an extension of a prior initiative aimed at advancing the development of East Jerusalem.

This strategy, as noted by Israeli Prime Minister Benjamin Netanyahu, is designed to contribute to the advancement of a cohesive and resilient Jerusalem.

Following inputs from Itamar Ben-Gvir and Bezalel Smotrich, two far-right ministers, several pivotal clauses of the plan were revised to address their concerns.