Egypt High-Speed Trains to Connect Red Sea, Mediterranean

Ships move through the Suez Canal, in Ismalia, Egypt, July 31, 2025. (Reuters)
Ships move through the Suez Canal, in Ismalia, Egypt, July 31, 2025. (Reuters)
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Egypt High-Speed Trains to Connect Red Sea, Mediterranean

Ships move through the Suez Canal, in Ismalia, Egypt, July 31, 2025. (Reuters)
Ships move through the Suez Canal, in Ismalia, Egypt, July 31, 2025. (Reuters)

Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the Red Sea and the Mediterranean in the latest attempt to modernize transport in the vast country.

Described by transport minister Kamel al-Wazir as a "new Suez Canal on rails", the project is slated to be completed in 2028, and will carry passengers and cargo the 660-kilometer (410-mile) distance in as little as three hours.

The Green Line, as it is known, is the latest of a long list of megaprojects undertaken by Egyptian President Abdel Fattah al-Sisi's government in the past decade -- the crowning jewel of which is the New Administrative Capital east of Cairo.

In 2021, Egypt signed a $4.5 billion contract with a consortium that includes German company Siemens to establish the Green Line, which will form the first of three high-speed tracks across the country.

Authorities hope the nearly 2,000 kilometer-network will carry 1.5 million passengers per day.

Egypt's existing train network -- used by a million people every day -- is plagued by infrastructure and maintenance problems that caused nearly 200 accidents last year, according to official figures.

The Green Line will run across the country's north, from Ain Sokhna on the Red Sea to Marsa Matrouh on the Mediterranean, crossing two Cairo satellite cities -- the New Administrative Capital to the east, and to the west 6th of October City, home to Egypt's only dry port.

- Urban planning bet -

According to Tarek Goueili, head of the National Authority for Tunnels, Egypt's revamped rail network will carry 15 million tons of cargo per year -- 3 percent of last year's Suez Canal transit volume.

For those behind it, the Green Line is also an urban planning bet.

"The high-speed line will ease pressure on Greater Cairo and encourage the emergence of new growth hubs," said Faical Chaabane of French company Systra, which is building the track.

In one desert station Systra showed reporters, workers on scaffolding have raised an imposing geometric ceiling over six open-air tracks.

Much of the New Administrative Capital that surrounds it is also still a construction site, home to government ministries where workers commute by bus every day.

With desert accounting for most of the country's million square kilometers, the vast majority of Egypt's 108 million people -- the Arab world's largest population -- are stacked vertically along the Nile River and its delta.

After its inauguration, the Green Line will be followed by the Blue Line, which will track the Nile linking Cairo to Aswan, and the Red Line, which will connect the Red Sea cities of Hurghada and Safaga inland to Luxor.



Saudi Arabia to Establish Int’l Center for Digital Governance in Riyadh

A letter of intent was signed between the DGA and the UN on the sidelines of the Science, Technology and Innovation Forum held in New York this week. (SPA)
A letter of intent was signed between the DGA and the UN on the sidelines of the Science, Technology and Innovation Forum held in New York this week. (SPA)
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Saudi Arabia to Establish Int’l Center for Digital Governance in Riyadh

A letter of intent was signed between the DGA and the UN on the sidelines of the Science, Technology and Innovation Forum held in New York this week. (SPA)
A letter of intent was signed between the DGA and the UN on the sidelines of the Science, Technology and Innovation Forum held in New York this week. (SPA)

Saudi Arabia’s Digital Government Authority has said it held discussions with the United Nations Department of Economic and Social Affairs (UN-DESA) to host in Riyadh a digital government center affiliated with the UN to enhance international cooperation, exchange expertise, and develop best practices.

A letter of intent was signed between the DGA and the UN on the sidelines of the Science, Technology and Innovation Forum held in New York this week.

DGA Governor Ahmed bin Mohammed Al-Suwaiyan said that choosing Riyadh as the center’s headquarters reflects Saudi Arabia’s leadership and global role as a model in building an integrated digital ecosystem that is human-centric and future-oriented.

He added that the center represents a pivotal milestone in advancing digital government practices globally, supporting member states, enhancing knowledge exchange, and leveraging artificial intelligence and modern technologies.

Al-Suwaiyan stressed that this step is a result of the support that digital government receives from the Saudi leadership in line with the objectives of Vision 2030.

Bjorg Sandkjaer, Assistant Secretary-General for Policy Coordination in DESA, indicated that the current discussions are an extension of the ongoing cooperation between Saudi Arabia and the UN, and lay the foundation for a long-term partnership aimed at supporting digital government and strengthening the public sector.

She said the center will work on developing frameworks, standards, and best practices to help member states build comprehensive and sustainable digital strategies that contribute to achieving the sustainable development goals and enhancing their inclusiveness globally.

Saudi Arabia launched the Riyadh Declaration during the 19th session of the Internet Governance Forum (IGF 2024), which was held in Riyadh. The forum is organized annually by the UN and brings together global experts to discuss and shape international policies in internet governance.


Oil Jumps, Stocks Fall as US-Iran Clashes Spark Peace Talks Fears

An oil rig operates in the Permian Basin oil field in Texas, USA (Reuters)
An oil rig operates in the Permian Basin oil field in Texas, USA (Reuters)
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Oil Jumps, Stocks Fall as US-Iran Clashes Spark Peace Talks Fears

An oil rig operates in the Permian Basin oil field in Texas, USA (Reuters)
An oil rig operates in the Permian Basin oil field in Texas, USA (Reuters)

Stocks sank and oil prices jumped Friday as US-Iran clashes in the Strait of Hormuz jolted hopes for a deal to end the war and reopen the crucial waterway.

Markets across the world have enjoyed a strong run this week on growing optimism that the 10-week conflict -- which has sent oil prices soaring -- will be concluded soon.

However, the risk-on mood was tempered Thursday following news that US forces had carried out strikes on Iranian military targets in response to an attack on three American destroyers in the Strait, threatening a month-old ceasefire.

For its part, Iran's central military command accused the United States of violating the ceasefire by attacking an oil tanker and another ship.

Following the clashes, Donald Trump wrote on his Truth Social platform: "We'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!"

But when asked in Washington if the truce was still on, the US president said: "Yeah it is. They trifled with us today. We blew them away."

The clash came a day after Trump said an agreement could be near and as Tehran considered a one-page US proposal to end the conflict and reopen the Strait, through which a fifth of world oil and gas usually passes.

Also, the Wall Street Journal said the White House was considering restarting an operation to help commercial ships through the Strait, which Trump dropped after just a day earlier this week.

"Project Freedom" had caused anger in Iran and led it to carry out attacks on the United Arab Emirates.

Oil prices, which fell around 10 percent over the past three days, rose more than one percent Friday.

And equity markets retreated at the end of a week that saw a strong rally across Asia, helped by a surge in tech firms linked to artificial intelligence.

Seoul was off more than one percent after hitting multiple records this week, while Tokyo, Hong Kong, Sydney, Shanghai, Singapore, Wellington, Taipei, Manila and Jakarta were also down.

The losses followed a retreat on Wall Street, where the S&P 500 and Nasdaq came down from all-time highs, though analysts pointed out that losses were not surprising after the recent run-up.

"Once again, the news flow on the geopolitical front has shown that the path towards a lasting agreement is anything but linear," said Chris Weston at Pepperstone.

He added that "traders have had to rethink the assumptions on the trajectory of the conflict and the normalization of vessel flows through Hormuz that had been made over the last couple of sessions".

Sterling weakened against the dollar as investors kept a check on local elections in the United Kingdom, where the ruling Labour Party is expected to suffer hefty losses that could amplify calls for Prime Minister Keir Starmer to resign or face a leadership challenge.

Meanwhile, Japanese media reported that authorities had spent around $64 billion since last week propping up the yen.

The market interventions reportedly began on April 30 when the currency weakened to near 160 per dollar, the lowest in almost two years.

Since then there have been several spikes in the value of the yen, sparking speculation of further moves by the government. On Friday it was trading close to 157.

Atsushi Mimura, Japan's top currency official, on Thursday declined to comment, local media reported.

Investors are also awaiting the release of US jobs data due later in the day, hoping for an idea about the impact of the war and rising prices on the economy.


Saudi Entertainment Becomes Strategic Driver of Economy

 Large crowds attend Riyadh Season, SPA
Large crowds attend Riyadh Season, SPA
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Saudi Entertainment Becomes Strategic Driver of Economy

 Large crowds attend Riyadh Season, SPA
Large crowds attend Riyadh Season, SPA

Over the past decade, Saudi Arabia’s entertainment sector has shifted from an activity with limited influence to one of the main drivers of economic diversification under Vision 2030.

After years in which the sector was viewed as marginal or seasonal, it has become an integrated industry covering major events and festivals, concerts and international shows, cinema and artistic production, gaming and esports, entertainment tourism, and the restaurant and retail sectors linked to events.

The transformation has been reflected economically through the attraction of billions of riyals in local and international investment, the creation of thousands of jobs for young people, and higher domestic spending that might otherwise have flowed abroad. It has also stimulated related sectors such as hospitality, aviation, and transport.

Since its establishment in 2016, the General Entertainment Authority has played a central role in building and accumulating the sector’s regulatory infrastructure and attracting international events, turning cities such as Riyadh and Jeddah into regional hubs for events and entertainment.

As a result, entertainment is no longer merely a consumer activity. It has become an economic, investment, and cultural tool that contributes to improving the quality of life and strengthening Saudi Arabia’s position as a regional and global destination.

320 million visitors

General Entertainment Authority Chairman Turki Alalshikh said that over 10 years of continuous work, Saudi Arabia’s entertainment ecosystem had developed through more than 39 seasons and 21 entertainment programs, offering diverse experiences and drawing more than 320 million visitors.

He said this had helped consolidate the country’s global presence in the sector.

Alalshikh thanked Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their “unlimited” support in establishing the General Entertainment Authority and building an integrated entertainment sector in the kingdom.

The chairman of the General Entertainment Authority had previously disclosed that the estimated brand value of Riyadh Season had reached $3.2 billion, reflecting the major growth in the season’s global reputation and confirming that it had become one of the leading entertainment brands in the Middle East and the world.

During the previous edition of Riyadh Season, he said the event included 11 main entertainment zones across the capital, 15 international championships, and 34 exhibitions and festivals, with the participation of more than 2,100 companies across various fields.

Local companies accounted for 95% of the total, through 4,200 contracts signed with the private sector, reflecting the empowerment of national talent and the growing contribution of the private sector to the local economy.

Tourism economy

In this context, the World Travel and Tourism Council, WTTC, recently said Saudi Arabia’s tourism sector was the largest in the Middle East.

It said the total contribution of travel and tourism to the kingdom’s economy reached about $178 billion in 2025, accounting for 46% of the Middle East’s tourism economy, according to the council’s methodology, which includes the sector’s direct and indirect contribution to gross domestic product.

The economic impact report said the total contribution of travel and tourism to Saudi Arabia’s GDP grew by about 7.4% in 2025, nearly double the global average growth rate of 4.1%.

At the regional level, Saudi Arabia exceeded the Middle East average growth rate of 5.3%, reinforcing its position as the fastest-growing tourism market in the region.

The figures underscore Saudi Arabia's regional leadership in tourism and its rapid growth since the start of the comprehensive transformation path outlined by Vision 2030.

The report pointed to business travel as one of the key enablers of growth in Saudi tourism, noting the kingdom’s emergence as a central hub for conferences, exhibitions and major international events. This strengthens its position as a leading global tourism destination with diverse demand drivers.

The WTTC report confirms the continued growth of Saudi Arabia’s tourism sector, a trend reflected in various global and local reports.

Saudi Arabia recently issued the Vision 2030 annual report for 2025, which showed strong performance in the tourism sector last year. The total number of domestic and inbound tourists reached about 123 million, further strengthening the kingdom’s position as a leading global tourism destination.