Gulf and Red Sea Regions

Egypt's capital, Cairo, is home to hundreds of bridges and bridge extensions scattered all over the metropolis. For long, under bridges were a place for the homeless, renegades and illicit activities but the scene is rapidly changing now as underbridges turn into cafes and social corners. 

The visit is being hailed as a milestone visit in the two neighbouring countries. The two countries have often had disputes on a range of issues. However, in recent months there has been a growing rapprochement between Riyadh and Muscat as high-level officials of the two countries have exchanged visits and conducted extensive consultations on a number of political and economic issues of common interest. A number of trade deals are expected to be signed.

The European Union's envoy to Saudi Arabia has expressed the bloc's understanding of the concerns shared by the Gulf States regarding Iranian activity in the region. Patrick Simonnet, the EU Head of Delegation to Bahrain, Oman and Saudi Arabia was speaking to Asharq Al-Awsat newspaper. Simonnet clarified that the situation today differs from what it was back in 2015 and   many issues needed to be resolved.

Egyptian Foreign Minister Sameh Shoukry headed to Brussels on Saturday (10 July) to hold talks with officials from the European Union on the Grand Ethiopian Renaissance Dam (GERD) crisis. Last week Egypt and Sudan raised the issue at the UN Security Council who in turn entrusted the African Union to resume negotiations between the two countries and Ethiopia. 

Oil prices jumped to a new high after a disagreement between Saudi Arabia and the UAE about oil production quotas. West Texas Intermediate crude advanced to $76.98 a barrel, the highest since November 2014, as the OPEC+ talks are postponed indefinitely. Meanwhile, Brent crude, the global benchmark, maintained its three-year high of about $77 a barrel. 

On Saturday (3 July), the Yemeni army and allied tribesmen launched a new offensive in Al-Bayda governorate to recapture the area from the Houthis. Several state and local media shows footage of armed vehicles rolling into the governorate for the first time since the war started. Reports suggest the Yemeni government succeeded in capturing some villages. 

On Tuesday, Saudi Arabia announced the launch of the country’s National Transport and Logistics Strategy. The comprehensive programme serves to make the Kingdom a global logistics hub connecting Africa, Asia and Europe, and improve all transport services as part of Saudi Vision 2030.

The UAE foreign minister, Abdullah bin Zayed al-Nahyan, and his Israeli counterpart, Yair Lapid, on Tuesday (29 June) signed the 12th agreement between the two countries, covering economic and trade co-operation. Lapid is on his first official visit to Abu Dhabi to discuss ways to strengthen bilateral relations in light of the agreement between the two sides, as well as the situation in the Middle East region.

The GCC- UK Trade Summit 2021 will be held in Riyadh tomorrow (29 June) to discuss ways to boost bilateral trade and investment between the bloc and the UK.