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Egypt to sell $500m in treasury bonds to Saudi

Egypt's planning minister Faiza Abu el-Naga has announced the signing of an agreement signed to sell $500m in treasury bonds to Saudi Arabia, Reuters has reported. The bonds are part of a package of financial support promised by Saudi Arabia a year ago. As part of the package, Riyadh earlier this month transferred $1bn as an eight-year deposit at Egypt's central bank, Abu el-Naga said at the time.