Reuters: Financial Services and Real Estate: UPDATE 1-Recalled Saudi envoy to return to Egypt on Saturday

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UPDATE 1-Recalled Saudi envoy to return to Egypt on Saturday May 5th 2012, 12:26 Sat May 5, 2012 8:26am EDT * Ambassador expected in Cairo on Saturday * Saudi Arabia confirms aid plans going ahead (Adds Saudi finance minister comments on aid) CAIRO May 5 (Reuters) - Saudi Arabia's ambassador to Egypt will return to Cairo on Saturday, the Saudi embassy said in a statement, after he was recalled in a rare diplomatic row between the long-time allies. Ambassador Ahmed Abdulaziz Kattan was withdrawn almost a week ago in response to street protests in Cairo against the arrest of an Egyptian lawyer in the Gulf kingdom. The embassy statement said the envoy would return to Egypt on Saturday, after a Saudi official had said on Friday that he would come back to Cairo next week. Egypt sent a large parliamentary delegation to Riyadh this week to help rebuild ties with the kingdom, which has promised $2.7 billion to support battered Egyptian finances. On Saturday, Saudi Arabia confirmed its plans to send aid. "We're taking procedures to execute the aid budget (for Egypt)," Saudi Finance Minister Ibrahim Alassaf told reporters after a meeting of Gulf Arab finance ministers in Riyadh. Previously strong ties between Riyadh and Cairo were strained by last year's uprising in Egypt that overthrew President Hosni Mubarak, who was close to the Saudi leadership. The rising power of the Muslim Brotherhood in Egypt has also worried many in the Gulf who fear the spread of its influence. (Additional reporting by Angus McDowall in Riyadh; Writing by Edmund Blair; Editing by Alison Williams) Link this Share this Digg this Email Reprints

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