ABC News Spain, Egypt to Study Cairo-Luxor Bullet Train Link Spain and Egypt have agreed to study the feasibility of a bullet-train link between the Egyptian capital of Cairo and the ancient southern city of Luxor. The agreement was signed Thursday by the countries' economy ministers during a one-day visit to Spain by Egyptian President Abdel-Fattah el-Sissi, Spain's Economy Ministry said. Egypt is keen on improving its rail links while Spain has one of the world's most developed high-speed train systems. Spain will fund the study, the ministry said. Cairo and Luxor, two of Egypt's most popular tourist destinations, are 500 kilometers (300 miles) apart. Read more: http://abcnews.go.com/International/wireStory/spain-egypt-study-cairo-luxor-bullet-train-link-30699064 Forbes Egypt Continues Push For Renewable Future Continuing its push for energy diversification and drawing down on costly hydrocarbon imports, Egypt is adding to its renewable portfolio with the signing of a memorandum of understanding with Access Power MEA. The agreement will include the development of a 65 MW solar plant in Aswan and a 50 MW wind project in Zafrana, costing an estimated $200 million, according to local media reports. Signed by the Egyptian Ministry of Electricity and Renewable Energy, the agreement is part of a broader push by Cairo to move away from over-reliance on costly and unstable energy options and help avoid a future of the sort of rolling blackouts that have plagued the country of over 80 million, especially during the hot summer months. Read more: http://www.forbes.com/sites/christophercoats/2015/04/30/egypt-continues-push-for-renewable-future/ Business Recorder Egyptian pound steady Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Thursday while the currency was also unchanged on the black market. The central bank has kept the official exchange rate steady for more than two months since letting the pound weaken at the beginning of 2015. This step and other measures have helped to reduce black market trading significantly. The bank said it had offered $40 million at auction on Thursday and sold $38.5 million at a cut-off price of 7.5301 pounds per dollar, unchanged from Wednesday's auction. The rates at which banks are allowed to trade dollars are determined by the results of official auctions, giving the central bank effective control over exchange rates. Read more: http://www.brecorder.com/money-a-banking/198/1182064/
