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NDTV
29-04-2025
- NDTV
Egypt's $51 Million Pyramids Revamp Includes Electric Buses, E-Ticketing
Egypt's iconic Pyramids of Giza are set to undergo a $51 million revamp after years of complaints from tourists about poor conditions at the UNESCO World Heritage Site. Millions of people visit the African nation each year to see the ancient pyramids, but many have shared negative experiences. Despite being the most popular tourist attraction, it lacks proper management. Tourists have also complained about animal cruelty and aggressive vendors forcing them to buy souvenirs or services. What changes will tourists see? The country has started a trial run for the changes at the Pyramids of Giza. Earlier, people used to make an entry near the Marriott Mena House Hotel, which used to be overcrowded. Now, they have opened a new entrance from the Fayoum Highway to reduce traffic and crowding. Instead of private cars and tourist buses, the government is planning to run 45 electric buses in the Pyramids area. This will operate every five minutes. The move came after animal rights organisation PETA complained that horses and camels were often kicked, punched, starved, and forced to work until they died. Several tombs will also be restored. In addition, visitor centres are being revamped to look more organised. The government is also setting up an online ticket system so people can buy tickets online instead of standing in long queues. Challenges After the government replaced an old entry with a new one, horse and camel owners were told to move to a new parking area away from the main tourist spots. This has angered the animal ride owners, who say the new spots make it harder for them to find customers. In return, the animal ride owners have started a protest by blocking vehicles. Naguib Sawiris, founder of Orascom Investment Holding, said, "The well-being of the public and preservation of this treasure is far more important than catering to the interests of 2,000 individuals who have caused harm to the country for years," as per He also said that vendors who don't follow rules will be banned from the area.
Egypt Independent
09-04-2025
- Business
- Egypt Independent
Naguib Sawiris expects gold to hit US$5,000 per ounce
Egyptian businessman Naguib Sawiris, chairman of Orascom Investment Holding, predicted that the price of gold would reach US$5,000 per ounce within a year or two. The Egyptian billionaire indicated that psychological pressures and investor need for liquidity were among the reasons for the decline in gold prices, and confirmed that he will continue to invest in the yellow metal. Sawiris said that the sharp declines in global markets are due to the policies of US President Donald Trump, who did not anticipate this sharp decline and could have implemented his economic plans in a calmer manner that would satisfy everyone. In an interview with Al-Arabiya Business, Sawiris added that most stocks have lost 100 percent of their market value, believing that the current downturn has reached its peak and that markets will not experience a deeper collapse than this. Sawiris noted that the US economy is heading toward recession as a result of Trump's trade decisions, which will force the Federal Reserve to cut interest rates in the coming period. He also criticized Trump's choices for leadership positions, saying, 'A television presenter cannot be qualified to be Secretary of Defense,' referring to his unconventional appointments that have sparked widespread controversy. Regarding more local matters, Sawiris emphasized the need to attract massive investments to boost the Egyptian economy, warning that politically motivated American pressure could have a significant economic cost for the country.
