The EFG Hermes Egypt Day Summit will wrap up today. The event brought together 27 investors from 22 firms and institutions with aggregate assets under management of USD 5.5 tn to meet face-to-face with senior government officials and C-suite execs from top publicly traded companies. Investors met yesterday with President Abdel Fattah El Sisi, according to a readout from Ittihadiya (pdf). Also attending were Investment Minister Sahar Nasr, Finance Minister Mohamed Maait, Central Bank Government Tarek Amer and EGX Chairman Mohamed Farid.

The Administrative Court is to rule this Saturday on Beltone’s appeal of a six-month suspension handed to its investment banking division over alleged irregularities in its management of the IPO of structured- and consumer-finance player Sarwa Capital. The Financial Regulatory Authority, meanwhile is set to hear a separate appeal by Beltone on Monday.

The news comes as Beltone parent company Orascom Investment Holding has five days to close its acquisition of a 30% stake in Sarwa. We have more on the OIH transaction in this morning’s Speed Round.

Saudi shoring up Red Sea alliance against Iran, Turkey and Qatar: “Saudi Arabia is seeking an alliance with six countries bordering the Red Sea and the Gulf of Aden, a strategic area vital to global shipping and increasingly an arena of contention with regional rivals,” Reuters says in a report on a meeting yesterday in Riyadh between KSA officials and representatives of Egypt, Djibouti, Somalia, Sudan, Yemen and Jordan. Follow-up talks are expected in Cairo “soon,” the newswire adds. The talks come as the FT argues that advisors closest to Saudi Crown Prince Mohammed bin Salman could be at risk as King Salman “reasserts himself in a bid to contain the crisis triggered by the killing of Jamal Khashoggi.” (FT)