France, Egypt and Jordan to hold summit on Gaza during Macron's Cairo visit


Kamal Tabikha
  • English
  • Arabic

French President Emmanuel Macron arrived in Cairo on Sunday for a two-day visit focused on addressing the worsening crisis in Gaza amid increased Israeli bombardments and a halting of humanitarian deliveries to the enclave.

The French leader was received in a ceremony by Egyptian President Abdel Fattah El Sisi at the Ittihadiya Presidential Palace.

The visit will include a tripartite summit in Cairo on Monday with Mr El Sisi and Jordan's King Abdullah II to push for an immediate ceasefire in the Gaza Strip and discuss the urgent delivery of humanitarian aid, according to a post by Mr Macron on X on Saturday.

Mr Macron last visited Egypt in October 2023 in response to the start of Israel's military campaign on Gaza in retaliation to a Hamas attack on Israeli territory which killed about 1,200 people and kidnapped about 250 people into Gaza. On Tuesday, he will visit the Egyptian port of El Arish, 50km west of the Gaza Strip, to meet humanitarian and security workers.

Anne-Claire Legendre, North Africa and Middle East adviser to Mr Macron, emphasised the importance of his visit in marking his “constant mobilisation in favour of a ceasefire in Gaza”.

A man passes by the destroyed house of journalist Islam Meqdad, where she was killed along with her son and five other family members in an Israeli army strike in Khan Younis. AP
A man passes by the destroyed house of journalist Islam Meqdad, where she was killed along with her son and five other family members in an Israeli army strike in Khan Younis. AP

The visit will also include a business forum, where several agreements are expected to be signed, Ms Legendre said, including in the areas of health, renewable energies, artificial intelligence and technology.

It coincides with the delivery of the first Rafale fighter jet to Egypt under a contract signed in 2021 between both countries, which Ms Legendre described in a press briefing as a “new stage” in the implementation of defence co-operation between the two countries.

On Friday, Arab League secretary general Ahmed Abul-Gheit warned that the “Israeli war machine” appears to be unstoppable, with the daily killing and displacement of civilians in Gaza aimed at forcing residents out of the strip by making the land uninhabitable.

He urged countries committed to peace to defend international law and act immediately to stop the heinous killing.

Since the Israeli military resumed its offensive on the Gaza Strip on March 18, following a fragile two-month truce, more than 1,000 Palestinians have been killed, including 322 children, according to the Egyptian Foreign Ministry.

More than 50,423 people have been killed since the war broke out in October 2023, with 114,638 reported injured, most of them women and children, the strip's Ministry of Health said.

Ms Legendre highlighted France's support for Egypt's mediation efforts during the conflict. “Throughout the crisis, we have provided support in terms of equipment and medicines, to allow the Egyptian health system to receive patients treated outside the Gaza Strip and, as much as possible, to also deliver humanitarian resources inside the Gaza Strip,” she said.

Humanitarian agencies have decried Israel's renewed attacks on Gaza, which have also resulted in large-scale displacement, with more than 280,000 people displaced in the past two weeks and 65 per cent of Gaza territory now under active displacement orders or within “no-go” areas designated by the Israeli army.

Aid workers have also been attacked, with the number of aid workers killed since October 2023 rising to 409, including a complex rescue operation that recovered the bodies of 15 emergency responders buried in a mass grave in Rafah.

The World Food Programme warned that hundreds of thousands of people are again at risk of severe hunger and malnutrition as humanitarian food stocks dwindle, prices soar and crossings remain closed, while the Water, Sanitation and Hygiene Cluster reports that access to water and sanitation remains severely constrained, exacerbating public health risks.

Mr Macron's visit to Egypt comes days after the EU Parliament approved a €4 billion ($4.28 billion) second tranche of a larger €7.4 billion macro-financial assistance package signed with Egypt last year. This latest approval follows the disbursement of an initial €1 billion tranche received in January 2025 under the same MFA package.

The Egyptian Foreign Ministry welcomed the EU's decision, describing it as a “clear sign” of their strategic partnership and recognition of Mr El Sisi's efforts to promote regional security and stability.

Egypt and France enjoy extensive trade and co-operation on defence, transportation and technology. Egyptian exports to France amounted to $1.04 billion in 2023 with nitrogenous fertilisers being the top product. French exports to Egypt reached $2.17 billion in the same year.

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

Drivers’ championship standings after Singapore:

1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Medicus AI

Started: 2016

Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh

Based: Vienna, Austria; started in Dubai

Sector: Health Tech

Staff: 119

Funding: €7.7 million (Dh31m)

 

Golden Shoe top five (as of March 1):

Harry Kane, Tottenham, Premier League, 24 goals, 48 points
Edinson Cavani, PSG, Ligue 1, 24 goals, 48 points
Ciro Immobile, Lazio, Serie A, 23 goals, 46 points
Mohamed Salah, Liverpool, Premier League, 23 goals, 46 points
Lionel Messi, Barcelona, La Liga, 22 goals, 44 points

Updated: April 07, 2025, 5:29 AM