Egypt’s Awkward Reset with the U.S.

A week ago, the Egyptian president was being received warmly in Washington, where Donald Trump hosted him in the Oval Office and praised him publicly. But President Sisi obtained little of substance, and the recent American attack on Syria, Eric Trager writes, is a rejection of Sisi’s advice:

Sisi returned home on Thursday empty-handed and overshadowed as President Trump heeded the views of Jordan’s King Abdullah [with whom he met on Wednesday] on Syria and ordered strikes . . . despite Sisi’s misgivings.

To be sure, Sisi’s visit was all about receiving—and showcasing—the big Beltway hug. For the past four years, Cairo sulked as the Obama administration held the autocratic Sisi at arm’s length. . . . But the goodwill tour didn’t yield any immediate goods. Sisi received no new military or economic aid, nor did the Trump administration renew the financing mechanism that allows Egypt to order expensive weapons systems on credit.

Meanwhile, ministers in Sisi’s entourage pressed the American business community for more investments, but returned home without any new contracts. And despite Cairo’s persistent lobbying for Washington to designate the Muslim Brotherhood as a terrorist organization, the Trump administration took no such action.

Cairo, by contrast, responded coolly, expressing its “great concern” and urging the U.S. and Russia to cooperate in resolving the Syrian crisis. Egypt’s hedge isn’t surprising, of course: Sisi has deepened his country’s relationship with Russia in recent years through weapons purchases and joint military exercises, and he therefore can’t endorse an American attack on the Russian-backed Syrian regime. If tensions between the U.S. and Russia worsen over Syria, Sisi’s White House visit this past week might be the high point of his “new beginning” with Washington.

Read more at New York Daily News

More about: Egypt, General Sisi, Politics & Current Affairs, Russia, Syrian civil war, U.S. Foreign policy

Despite the Toll of War at Home and Rising Hostility Abroad, Investors Are Still Choosing Israel

When I first saw news that Google wasn’t going through with its acquisition of the tech startup Wiz, I was afraid hesitancy over its Israeli founders and close ties with the Jewish state might have something to do with it. I couldn’t have been more wrong: the deal is off not because of Google’s hesitancy, but because Wiz feared the FTC would slow down the process with uncertain results. The company is instead planning an initial public offering. In the wake of the CrowdStrike debacle, companies like Wiz have every reason to be optimistic, as Sophie Shulman explains:

For the Israeli cyber sector, CrowdStrike’s troubles are an opportunity. CrowdStrike is a major competitor to Palo Alto Networks, and both companies aim to provide comprehensive cyber defense platforms. The specific issue that caused the global Windows computer shutdown is related to their endpoint protection product, an area where they compete with Palo Alto’s Cortex products developed in Israel and the SentinelOne platform.

Friday’s drop in CrowdStrike shares reflects investor frustration and the expectation that potential customers will now turn to competitors, strengthening the position of Israeli companies. This situation may renew interest in smaller startups and local procurement in Israel, given how many institutions were affected by the CrowdStrike debacle.

Indeed, it seems that votes of confidence in Israeli technology are coming from many directions, despite the drop in the Tel Aviv stock exchange following the attack from Yemen, and despite the fact that some 46,000 Israeli businesses have closed their doors since October 7. Tel Aviv-based Cyabra, which creates software that identifies fake news, plans a $70 million IPO on Nasdaq. The American firm Applied Systems announced that it will be buying a different Israeli tech startup and opening a research-and-development center in Israel. And yet another cybersecurity startup, founded by veterans of the IDF’s elite 8200 unit, came on the scene with $33 million in funding. And those are the stories from this week alone.

But it’s not only the high-tech sector that’s attracting foreign investment. The UK-based firm Energean plans to put approximately $1.2 billion into developing a so-far untapped natural-gas field in Israel’s coastal waters. Money speaks much louder than words, and it seems Western businesses don’t expect Israel to become a global pariah, or to collapse in the face of its enemies, anytime soon.

Read more at Calcalist

More about: cybersecurity, Israeli economy, Israeli gas, Israeli technology, Start-up nation