Latest news with #EgyptianGovernment
Zawya
2 days ago
- Business
- Zawya
Qatar expected to invest $4bln in Egypt tourism project: report
Qatar is expected to pump nearly $4 billion into a major tourism project involving resorts and luxury houses on the Northwestern Egyptian Mediterranean coast, a Saudi news website reported on Monday. The project is located in Ras Alam El-Rum town and will span an area of around 240,000 square metres, the Arabic language site Asharq said. It quoted two unidentified Egyptian government officials as saying Qatar Investment Authority (QIA), the Gulf country's sovereign wealth fund, will fund the project which includes resorts, luxury houses, shopping malls, yacht marina and other facilities. The report said the development is similar to Ras Al-Hekma project, which is undertaken by ADQ, the Abu Dhabi investment holding company. ADQ said last year it would pump $35 billion into the project on the Northern Egyptian coast, making it the largest foreign investment in the Arab nation. Phase 1 of the QIA project includes the operation of 20-25 percent of its area, the report said, adding that Egypt's government will be entitled for 15 percent of the revenues. 'Measures are under way to allocate the land for the project and issue the necessary licenses…it will be announced this year in case the negotiations between the two sides are successful,' it said. The reported project coincides with an intensified drive by Cairo to attract Foreign Direct Investment (FDI) to stimulate its economy and tackle debt and fiscal deficits. Officials have said the target is to receive $42 billion FDI during the 2025-2026 fiscal year, which started on 1 July. In a report last week, the US-based Institute of International Finance (IIF) urged Egypt to speed up privatisation and reform of public enterprises to ensure continued support by the International Monetary Fund (IMF) and Gulf oil producers. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Arab News
2 days ago
- Arab News
Egypt provides free train rides for Sudanese refugees returning home
CAIRO: Hundreds of people who have been displaced by fighting in Sudan gathered Monday at the central train station in Cairo to begin a free journey home. The Egyptian government is funding train rides to Khartoum, Sudan's capital, which recently was recaptured by the Sudanese Armed Forces from its rival, the paramilitary Rapid Support Forces, or RSF. Sudan has been in the throes of civil war since April 2023. The battle for power between the military and the RSF has caused a humanitarian crisis. Over 40,000 people have been killed and the war has caused one of the world's largest displacement emergencies. Egypt hosts the largest number of Sudanese refugees from the war with over 1.5 million people who fled north across the border. Over 7 million have been displaced internally as the war engulfed much of the country. The RSF took Khartoum at the start of the fighting in 2023 and held the capital until the government declared its recapture on May 20. Khartoum was largely destroyed, including the presidential palace and the airport, but is experiencing a slow rebirth as residents return and markets reopen. Electricity and basic services are not fully operational around the city. The journey from Cairo to Khartoum is about 2,080 kilometers (1,292 miles) and will include a train ride of about 12 hours to the southern Egyptian city of Aswan, where riders will change to ferries and buses to cross into Sudan. People packed their lives in small suitcases as they as they filled the train Monday. Some cried with 'overwhelming emotions' including sadness and joy about leaving Egypt and returning home, said Sudanese journalist Asem al-Taieb, one of the train riders. 'I am happy because I am finally going back to my family and my children,' said Awatef al Hassan, originally from Omdurman, Sudan, who is returning with her daughter.
Al Arabiya
3 days ago
- Al Arabiya
Egypt Provides Free Train Rides for Sudanese Refugees Returning Home
Hundreds of people displaced by fighting in Sudan gathered Monday at the central train station in Cairo to begin a free journey home. The Egyptian government is funding train rides to Khartoum, Sudan's capital, which recently was recaptured by the Sudanese Armed Forces from its rival, the paramilitary Rapid Support Forces, or RSF. Sudan has been in the throes of civil war since April 2023. The battle for power between the military and the RSF has caused a humanitarian crisis. Over 40,000 people have been killed, and the war has caused one of the world's largest displacement emergencies. Egypt hosts the largest number of Sudanese refugees from the war, with over 1.5 million people who fled north across the border. Over 7 million have been displaced internally as the war engulfed much of the country. The RSF took Khartoum at the start of the fighting in 2023 and held the capital until the government declared its recapture on May 20. Khartoum was largely destroyed, including the presidential palace and the airport, but is experiencing a slow rebirth as residents return and markets reopen. Electricity and basic services are not fully operational around the city. The journey from Cairo to Khartoum is about 2,080 kilometers (1,292 miles) and will include a train ride of about 12 hours to the southern Egyptian city of Aswan, where riders will change to ferries and buses to cross into Sudan. People packed their lives in small suitcases as they filled the train Monday. 'Some cried with overwhelming emotions, including sadness and joy about leaving Egypt and returning home,' said Sudanese journalist Asem al-Taieb, one of the train riders. 'I am happy because I am finally going back to my family and my children,' said Awatef al-Hassan, originally from Omdurman, Sudan, who is returning with her daughter.
The Independent
3 days ago
- The Independent
Egypt provides free train rides for Sudanese refugees returning home
Hundreds of people who have been displaced by fighting in Sudan gathered Monday at the central train station in Cairo to begin a free journey home. The Egyptian government is funding train rides to Khartoum, Sudan's capital, which recently was recaptured by the Sudanese Armed Forces from its rival, the paramilitary Rapid Support Forces, or RSF. Sudan has been in the throes of civil war since April 2023. The battle for power between the military and the RSF has caused a humanitarian crisis. Over 40,000 people have been killed and the war has caused one of the world's largest displacement emergencies. Egypt hosts the largest number of Sudanese refugees from the war with over 1.5 million people who fled north across the border. Over 7 million have been displaced internally as the war engulfed much of the country. The RSF took Khartoum at the start of the fighting in 2023 and held the capital until the government declared its recapture on May 20. Khartoum was largely destroyed, including the presidential palace and the airport, but is experiencing a slow rebirth as residents return and markets reopen. Electricity and basic services are not fully operational around the city. The journey from Cairo to Khartoum is about 2,080 kilometers (1,292 miles) and will include a train ride of about 12 hours to the southern Egyptian city of Aswan, where riders will change to ferries and buses to cross into Sudan. People packed their lives in small suitcases as they as they filled the train Monday. Some cried with 'overwhelming emotions' including sadness and joy about leaving Egypt and returning home, said Sudanese journalist Asem al-Taieb, one of the train riders. 'I am happy because I am finally going back to my family and my children,' said Awatef al Hassan, originally from Omdurman, Sudan, who is returning with her daughter.
Washington Post
3 days ago
- Washington Post
Egypt provides free train rides for Sudanese refugees returning home
CAIRO — Hundreds of people who have been displaced by fighting in Sudan gathered Monday at the central train station in Cairo to begin a free journey home. The Egyptian government is funding train rides to Khartoum, Sudan's capital, which recently was recaptured by the Sudanese Armed Forces from its rival, the paramilitary Rapid Support Forces, or RSF. Sudan has been in the throes of civil war since April 2023 . The battle for power between the military and the RSF has caused a humanitarian crisis . Over 40,000 people have been killed and the war has caused one of the world's largest displacement emergencies. Egypt hosts the largest number of Sudanese refugees from the war with over 1.5 million people who fled north across the border. Over 7 million have been displaced internally as the war engulfed much of the country. The RSF took Khartoum at the start of the fighting in 2023 and held the capital until the government declared its recapture on May 20 . Khartoum was largely destroyed, including the presidential palace and the airport, but is experiencing a slow rebirth as residents return and markets reopen. Electricity and basic services are not fully operational around the city. The journey from Cairo to Khartoum is about 2,080 kilometers (1,292 miles) and will include a train ride of about 12 hours to the southern Egyptian city of Aswan, where riders will change to ferries and buses to cross into Sudan. People packed their lives in small suitcases as they as they filled the train Monday. Some cried with 'overwhelming emotions' including sadness and joy about leaving Egypt and returning home, said Sudanese journalist Asem al-Taieb, one of the train riders. 'I am happy because I am finally going back to my family and my children,' said Awatef al Hassan, originally from Omdurman, Sudan, who is returning with her daughter.
