Egypt signs MoU with Siemens for $23bn high-speed train line

Egypt signs MoU with Siemens for $23bn high-speed train line
The electric rail line would run from Ain Sokhna on the Red Sea. (Shutterstock)
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Updated 14 January 2021

Egypt signs MoU with Siemens for $23bn high-speed train line

Egypt signs MoU with Siemens for $23bn high-speed train line

CAIRO: Egypt signed a memorandum of understanding with Germany’s Siemens on Thursday for construction of a $23 billion high-speed train line linking Egypt’s eastern and northern coasts, the cabinet said in a statement.
The electric rail line would run from Ain Sokhna on the Red Sea to New Alamein on the Mediterranean coast, passing through a new capital under construction in the desert east of Cairo.


FII confirms over 140 global speakers for 2021 event

FII confirms over 140 global speakers for 2021 event
Updated 6 min 58 sec ago

FII confirms over 140 global speakers for 2021 event

FII confirms over 140 global speakers for 2021 event
  • The theme for 2020 will be “The Neo-Renaissance”

DUBAI: More than 140 prominent international speakers have been confirmed to speak at this year’s Future Investment Initiative (FII), which will take place on Jan. 27-28.

Some of the top names announced this week include Saudi Energy Minister Prince Abdul Aziz bin Salman; David Solomon, chairman and CEO of Goldman Sachs Group; Credit Suisse Group CEO Thomas Gottstein; Reliance Industries Chairman Mukesh Ambani; Patrick Pouyanné, chairman and CEO of Total; Lord Gerry Grimstone, the UK’s minister of state for trade; Hyperloop One co-founder Josh Giegel; and David Rubenstein, co-founder and co-executive chairman of The Carlyle Group.

The theme for 2020 will be “The Neo-Renaissance,” and due to travel restrictions as a result of the coronavirus pandemic, 60 speakers will attend in-person in Riyadh, while 80 will participate virtually from hubs in New York, Paris, Beijing and Mumbai.

Some of the other speakers will include Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund and chairman of the FII Institute; Ray Dalio, co-chairman and chief information officer of Bridgewater Associates; Snam CEO Marco Alvarez; Dr. Sultan Al-Jaber, the UAE’s minister of industry and advanced technology, and special envoy and group CEO of the Abu Dhabi National Oil Co.; Eric Cantor, vice chairman and managing director of Moelis & Co.; Sultan Ahmed bin Sulayem, group chairman and CEO of DP World; and Saudi Investment Minister Khalid Al-Falih,

In addition, delegates can expect to hear from Princess Reema bint Bandar bin Sultan Al-Saud, Saudi ambassador to the US; Dr. Kai Fu Lee, co-founder, chairman and CEO of Sinovation Ventures; Thomas Barrack, executive chairman of Colony Capital; EDF CEO Jean Bernard Lévy; Jean Todt, president of Fédération Internationale de l’Automobile; Mahindra Group Chairman Anand Mahindra; and Anthony Scaramucci, founder and managing partner of SkyBridge Capital and former White House director of communications.