The Qatar Investment Authority (QIA) has deposited $1bn at the Central Bank of Egypt (CBE), according to a Bloomberg report. This would make Qatar the second Gulf nation to deposit money at the CBE this year after Saudi Arabia deposited $5bn at the end of March (MEES, 15 April).

The report speculates that the Qatari cash could be invested in Egyptian state owned entities, following in the footsteps of both Saudi Arabia and the UAE who forked out $1.3bn and $1.85bn respectively earlier this year to take stakes in state run firms (MEES, 12 August). (CONTINUED - 194 WORDS)