
Egypt working to integrate railways into Asia-Europe trade
CAIRO, May 25 (Reuters) - Egypt is working to integrate the country into a railway network connecting Asia and Europe, but a long-planned bridge that would link Saudi Arabia to Egypt's Sinai Peninsula has yet to be finalised, transport minister Kamel al-Wazir said on Sunday.
Egypt has been expanding its railways along seven separate axes, he said. These include three high-speed lines that would connect Sokhna Port on the Red Sea with the Mediterranean and Alexandria in the north and with Aswan in the far south.
Israel and Iraq have likewise been spending billions of dollars on rail lines with an eye towards tapping the east-west trade. All the plans involve loading cargo onto ships for part of the journey.
"We have now completed the planning for the bridge between Egypt and Saudi Arabia and are ready to implement it at any time - whether a bridge or a tunnel," Wazir told Reuters on the sideline of an economic conference organised by the American Chamber of Commerce in Egypt.
"But the (current) solution for connecting Egypt with Saudi Arabia and Jordan is through the Arab Bridge Maritime Co. which currently has 13 vessels that can take cargo between Saudi Arabia, Jordan and Egypt."
Saudi Arabia's King Salman announced during a visit to Egypt in 2016 the idea for a bridge, which would complement a mega-city and business zone called NEOM the Saudis were building across the Straits of Tiran.
Rail cargo would be sent to a series of ports on the Mediterranean that Egypt has been upgrading over the last decade.
The high-speed train line connecting to Egypt's south would skirt the edge of the pyramids area in the desert, while simultaneously serving the site, he added.
A proposed route through the site of Abydos, where Egypt's first pharaohs were buried 5,000 years ago, has been diverted to pass over the plateau above and away from the antiquities site.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Telegraph
7 hours ago
- Telegraph
Nigeria's reforms have put the country on the global economic map
As ghosts of the 1930s haunt the global outlook, the scramble for trade deals has seized control of government agendas. The United States has leveraged its 'tariff war ' to secure better terms, driving both friend and foe to the negotiating table. British deals with the US and India have provided some refuge from the prevailing gloom. Less reported – but with similar potential – was last year's signing of the Enhanced and Trade and Investment Partnership (ETIP) between the UK and Nigeria , the former's first such agreement with an African nation. Quiet in its arrival, the pact may yet echo louder. As someone who has built multinational businesses across Africa, I know the vast opportunity the continent offers, and Nigeria in particular, which alone accounts for a fifth of sub-Saharan Africa's 1.2 billion people. But I also understand the limitations we have often placed on ourselves when it comes to securing investment. Lowering barriers to trade is crucial, and for that Britain's ETIP looks prescient. However, investment and business potential will remain discounted as long as African nations cling to state intervention – from subsidies and price controls to exchange rate distortions – all of which have consistently bred dysfunction and economic instability. Fortunately, Nigeria has now decisively turned a corner, embracing market economics under a liberalising government. In Morocco this week, Foreign Secretary David Lammy indicated Britain's position is shifting too. Setting out his strategy for Africa, he said British policy must transition from aid to investment. 'Trade-not-aid' is no new idea – but it is the first time a British government has so clearly echoed the demand the African continent has voiced for years. In making that shift, Nigeria is taking the lead for a continent to follow. So many Nigerian administrations I have known have been hostage to economic events, doubling down time and again on state intervention rather than having the conviction to reform. This administration is proving different. After two years of difficult reforms, Nigeria – under President Bola Tinubu – is now poised to fulfil the promise of its vast natural resources, rapidly growing population of over 200 million people, and strategic coastal location along the Gulf of Guinea. First, the Tinubu administration removed a crippling fuel subsidy – the most significant policy reform in years. At 25 to 30 cents per litre, petrol in Nigeria was among the cheapest in the world. But the subsidy was bankrupting the government: by 2023, it consumed over 15 per cent of the federal budget – roughly equivalent to the proportion the UK spends annually on the NHS. When President Tinubu ditched the fuel subsidy on his first day in office, criticism quickly followed. Prices, at least for the time being, have risen. However, statistics must be understood in light of the wide-ranging distortions the subsidy created. Officially, fuel consumption in Nigeria has dropped by 40 to 50 per cent. But that is not because Nigerians' petrol use reduced by this amount. In reality the country was subsidising the region, with cross border fuel smugglers profiting from arbitrage. The illegal trade was so blatant that on a visit to neighbouring Niger a few years ago, then-President Mohamed Bazoum even joked about it, thanking Nigeria for the cheap fuel. Though the move was politically unpopular, the subsidy had become unsustainable. Now, spending is being redirected toward development and infrastructure – laying the foundations for long-term growth. Second, the country has moved from a fixed to a market-determined exchange rate. Previously, only select groups could access the official rate – especially those with political connections; the rest had to rely on a more expensive parallel informal market determined by supply and demand. But selling dollars at an artificially low rate only entrenched scarcity, a problem compounded by an opaque exchange mechanism that deterred foreign investment. Every two weeks, we used to make the 12-hour drive to Abuja to seek dollar allocations for imports – camping out at the Central Bank for three or four days. Now, I no longer need to go. I've met the new Governor only once in two years – because I haven't had to. Monetary orthodoxy has finally arrived, bringing with it the liquidity that both domestic and foreign businesses depend on to smooth trade and de-risk investment. Third, the shackles of politics are being prised from business, bringing greater certainty, fairness and stability to the landscape. Five years ago, I woke up one morning to find that the port concession for a new venture of mine had been revoked. It turned out my company was outcompeting a friend of an official of the Nigerian Ports Authority. In the end, it took then-President Buhari's personal intervention to save the enterprise. Had I not been politically connected, the business would have folded – along with the 4,000 jobs it provided – at a time when job creation was, and remains, Nigeria's most urgent challenge. Today, such connections are no longer necessary. The playing field is being levelled, flattening the political ridges and dips that once skewed the game. Many of these reforms required political courage to withstand the force of criticism. Prices rose as distortions were removed, yet the administration held firm, even as vested interests co-opted public discontent for their own ends. Indeed, many of the benefits of reform are still to be felt by the wider public. But economic fundamentals must be fixed before that becomes possible. That lead-time often tempts market reformers to reverse course, or avoid reform altogether. Now that Nigeria has made it through the toughest phase, its direction should be clear to investors. For Britain, the Enhanced Trade and Investment Partnership with Nigeria was a strategic bet on reform, resilience and long-term reward. Nigeria is now delivering its part of the bargain. As my country steadies itself, the UK, its Western allies – and their companies – should deepen this partnership.


The Independent
12 hours ago
- The Independent
Lebanon aims to bring tourists back to its beaches as travel bans finally lift
In a bid to revive Lebanon 's tourism sector, the Tourism Ministry recently hosted a retro-themed event at Beirut 's St. Georges Hotel. Fireworks illuminated the night sky above the Mediterranean Sea, while classic hits from the 1960s and 70s played in the background. The event aimed to evoke the "golden era" before the civil war of 1975, when Lebanon was a prime destination for wealthy tourists from the Gulf, drawn to its beaches, mountains, and vibrant nightlife. The event hopes to promote the upcoming summer season. In the decade after the war, tourists from Gulf countries – and crucially, Saudi Arabia – came back, and so did Lebanon's economy. But by the early 2000s, as the Iran -backed militant group Hezbollah gained power, Lebanon's relations with Gulf countries began to sour. Tourism gradually dried up, starving its economy of billions of dollars in annual spending. Now, after last year's bruising war with Israel, Hezbollah is much weaker and Lebanon's new political leaders sense an opportunity to revitalize the economy once again with help from wealthy neighbors. They aim to disarm Hezbollah and rekindle ties with Saudi Arabia and other Gulf countries, which in recent years have prohibited their citizens from visiting Lebanon or importing its products. 'Tourism is a big catalyst, and so it's very important that the bans get lifted,' said Laura Khazen Lahoud, the country's tourism minister. On the highway leading to the Beirut airport, once-ubiquitous banners touting Hezbollah's leadership have been replaced with commercial billboards and posters that read 'a new era for Lebanon.' In the center of Beirut, and especially in neighborhoods that hope to attract tourists, political posters are coming down, and police and army patrols are on the rise. There are signs of thawing relations with some Gulf neighbors. The United Arab Emirates and Kuwait have lifted yearslong travel bans. All eyes are now on Saudi Arabia, a regional political and economic powerhouse, to see if it will follow suit, according to Lahoud and other Lebanese officials. A key sticking point is security, these officials say. Although a ceasefire with Israel has been in place since November, near-daily airstrikes have continued in southern and eastern Lebanon, where Hezbollah over the years had built its political base and powerful military arsenal. As vital as tourism is — it accounted for almost 20% of Lebanon's economy before it tanked in 2019 — the country's leaders say it is just one piece of a larger puzzle they are trying to put back together. Lebanon's agricultural and industrial sectors are in shambles, suffering a major blow in 2021, when Saudi Arabia banned their exports after accusing Hezbollah of smuggling drugs into Riyadh. Years of economic dysfunction have left the country's once-thriving middle class in a state of desperation. The World Bank says poverty nearly tripled in Lebanon over the past decade, affecting close to half its population of nearly 6 million. To make matters worse, inflation is soaring, with the Lebanese pound losing 90% of its value, and many families lost their savings when banks collapsed. Tourism is seen by Lebanon's leaders as the best way to kickstart the reconciliation needed with Gulf countries -- and only then can they move on to exports and other economic growth opportunities. 'It's the thing that makes most sense, because that's all Lebanon can sell now,' said Sami Zoughaib, research manager at The Policy Initiative, a Beirut-based think tank. With summer still weeks away, flights to Lebanon are already packed with expats and locals from countries that overturned their travel bans, and hotels say bookings have been brisk. At the event hosted last month by the tourism ministry, the owner of the St. Georges Hotel, Fady El-Khoury, beamed. The hotel, owned by his father in its heyday, has acutely felt Lebanon's ups and downs over the decades, closing and reopening multiple times because of wars. 'I have a feeling that the country is coming back after 50 years,' he said. On a recent weekend, as people crammed the beaches of the northern city of Batroun, and jet skis whizzed along the Mediterranean, local business people sounded optimistic that the country was on the right path. 'We are happy, and everyone here is happy,' said Jad Nasr, co-owner of a private beach club. 'After years of being boycotted by the Arabs and our brothers in the Gulf, we expect this year for us to always be full.' Still, tourism is not a panacea for Lebanon's economy, which for decades has suffered from rampant corruption and waste. Lebanon has been in talks with the International Monetary Fund for years over a recovery plan that would include billions in loans and require the country to combat corruption, restructure its banks, and bring improvements to a range of public services, including electricity and water. Without those and other reforms, Lebanon's wealthy neighbors will lack confidence to invest there, experts said. A tourism boom alone would serve as a 'morphine shot that would only temporarily ease the pain" rather than stop the deepening poverty in Lebanon, Zoughaib said. The tourism minister, Lahoud, agreed, saying a long-term process has only just begun. "But we're talking about subjects we never talked about before,' she said. 'And I think the whole country has realized that war doesn't serve anyone, and that we really need our economy to be back and flourish again.'


The Sun
13 hours ago
- The Sun
World's tallest railway bridge higher than Eiffel Tower opens in India as £200million project hailed as ‘crown jewel'
INDIA has unveiled the world's highest railway bridge - built with 30,000 tonnes of steel and towering 359 metres above the river bed. The Chenab Bridge, linking India to Kashmir, has been hailed as the 'crown jewel of India' amid major tensions over the disputed region controlled by rival neighbours India and Pakistan. 5 5 5 India's Prime Minister Narendra Modi opened the £200 million bridge in his first visit to Kashmir since the conflict between India and Pakistan in April. The bridge's inauguration comes just a month after a shooting in the resort town of Pahalgam, Indian-controlled Kashmir, which killed 26 people. Waving the national flag over the bridge, Modi said: "Pakistan will never forget… its shameful loss.' He added: 'Today's event is a grand festival of India's unity and firm resolve.' Dubbed by Indian Railways as one of the most challenging tracks in the world, the bridge is seen as a symbol of India's economic strength. Stretching 0.8 miles long, the structure has been built to withstand 165mph winds and high-intensity earthquakes. The idea for the railway was first floated in 1892 by the then ruling Maharaja Hari Singh, who brought in British engineers to survey the rugged terrain. But given its complexity, the plan was ultimately shelved. The 169-mile railway line starts in the garrison town of Udhampur in Jammu and winds its way through Srinagar, the main city in Indian-administered Kashmir. It ends in Baramulla, near the heavily militarised Line of Control that divides the Himalayan region between India and Pakistan. India & Pakistan accuse each other of breaking ceasefire as explosions heard hours after deal The bridge is the focal point of the £3.7bn Udhampur-Katra-Baramulla project - set to connect Jammu and Kashmir with 36 tunnels and 943 bridges. It is expected to slice in half - to around three hours - the time taken to travel from Katra, a town in Kashmir's Hindu-majority Jammu region to Srinagar, Kashmir's main city which has a Muslim majority. Around 16 million people live in Kashmir, split between the Indian-controlled and Pakistani-controlled areas. When India and Pakistan gained independence from British rule in 1947, Indian troops took control of two-thirds of Kashmir, while Pakistan seized the northern third. Since then, the dispute between the two nuclear-armed neighbours has evolved into one of the world's most intense geopolitical rivalries. India accused Pakistan of backing the recent Pahalgam massacre - a claim Islamabad firmly denies. US President Donald Trump said: "The United States stands strong with India against terrorism. "We pray for the souls of those lost, and for the recovery of the injured. "Prime Minister Modi, and the incredible people of India, have our full support and deepest sympathies." In response to the terror attack, India launched "Operation Sindoor", striking nine sites across Pakistan and Pakistani-controlled Kashmir. Pakistan officials said the "unprovoked" strikes killed at least 31 people, including several children, as well as injuring 46 others. The fraught period also saw India and Pakistan cancelling visas for each other's citizens. 5 5