Egypt's President Morsi meets Iran's VP Hamid Baghaei

"... The brief meeting in the Egyptian capital did not produce any breakthroughs, but it was symbolic. Formal relations between the two countries were broken after the Iranian Revolution and Egypt's 1979 peace treaty with Israel...
Baghaei's stopover came at a pivotal time for both nations regarding Israel..... Cairo is under pressure from Israel and the United States to improve security in the Sinai peninsula after recent attempts by militants to infiltrate Israel.......
It is unlikely that Sunni Muslim-dominated Egypt's relationship with Shiite Muslim-controlled Iran will change significantly in the short term. The secular Egyptian military, which receives about $1.3 billion in U.S. aid, holds considerable power ....... the Muslim Brotherhood, has also been careful not to strain relations with Sunni Persian Gulf countries .....
The Saudi monarchy had strong bonds to Mubarak and has long been suspicious of the Brotherhood's Islamist populism. Morsi's first international trip as president was to Riyadh, the Saudi capital. Saudi Arabia holds billions of dollars in potential aid for Cairo, which is facing shortages of electricity and water and dwindling foreign financial reserves..."