Kidnapping Shows Egypt’s Fragilities Despite Cairo’s Efforts

Ardiseis Egypt, a subsidiary of French firm CGG, reported on Wednesday that one of its staff had been kidnapped on July 22 while traveling to Cairo.

"Ardiseis Egypt acknowledges that he is the hostage appearing on the video released today by the Sinai Province of Islamic State," the company said in a note.

An online video supposedly released by Islamic State's Egypt affiliate confirmed the news. In a separate video the Croatian hostage said the group would kill him in 48 hours if Muslim women in Egyptian jails were not freed.

"Croatia's Foreign Minister Vesna Pusic will, following consultations with her Egyptian counterpart, travel to Cairo," a foreign ministry spokeswoman commented. 

A few hours later, on Thursday, Egypt has unveiled a major expansion of the Suez Canal, which deepens the main waterway and provides ships with a 35km (22 mile) channel parallel to it. 

The two news show how the central government in Cairo is trying to increase cooperation with the oil and gas industry, but equally proves that instability in the region could be on the rise.