The Financial Times Gulf countries to invest in Egypt sovereign fund Saudi Arabia, the United Arab Emirates and Kuwait are considering investing in a multibillion-dollar "sovereign fund" to finance projects in Egypt, according to a senior government official in Cairo. Al-Youm al-Sabei, an Egyptian newspaper, reported on Wednesday that the Gulf countries would invest $10bn in the fund ahead of a high-profile international investment conference in Sharm el-Sheikh next month. The official, who would not confirm the sums involved, said the "sovereign fund . . . would invest in renewable energy, infrastructure projects and job creation schemes" in Egypt. He added: "It will also fund projects in health and education. There is a lot of attention to the social dimension of the economic reform process". Read more: http://www.ft.com/intl/cms/s/0/f02d61ba-ac7e-11e4-9aaa-00144feab7de.html#axzz3Qr9dZE2E Reuters Ex-presidential candidate's opposition party to boycott Egypt election An Egyptian opposition party led by a moderate Islamist said on Wednesday it would boycott a long-awaited parliamentary election because it lacked democratic credibility given a clampdown on political freedoms. "Given the absence of a proper democratic atmosphere for a genuinely competitive election, the party decided to boycott the House of Representatives election," the Strong Egypt party, which describes itself as centrist and is headed by ex- presidential candidate Abdel Moneim Abol Fotouh, said in a statement. Read more: http://www.reuters.com/article/2015/02/04/us-egypt-election-boycott-idUSKBN0L81WK20150204 The Jerusalem Post Egypt and Hamas As the rest of the world grows unthinkably tolerant of Hamas, its military wing, Izzadin Kassam, has been officially branded a terrorist organization by Egypt. This is a milestone decision and not only because it marks the first time an Arab country dares come out against a "Palestinian resistance" setup dedicated to combat Israel. Hitherto such forthrightness was heresy. This Egyptian stance was by no means adopted for the love of Israel. Egypt has its own compelling grievances against Hamas for collaborating actively with – indeed enabling – the terrorism rife in Sinai. For telling it like it is, Egypt surely deserves no rebuke but the gratitude of the international community. Read more: http://www.jpost.com/Opinion/Egypt-and-Hamas-390022
