Egypt News » Suez News Egypt » Suez » Trade: Suez Canal revenue collapse: Egypt suffers major blow in 2024
Officials announced Wednesday that Egypt’s Suez Canal revenue plunged by nearly two-thirds in 2024, citing escalating regional tensions and ongoing Middle East conflicts as the primary causes of the ...
News Egypt » Suez » Trade: Egypt's revenue from the Suez Canal plunged sharply in 2024
CAIRO (AP) — Egypt's revenue from the Suez Canal plunged by almost two thirds last year, officials said Wednesday, attributing the sharp drop to regional tensions and wars in the Middle East that have ...
News Egypt » Suez » Trade: Europe set to copy Egypt’s Suez Canal tolls with £20bn new canal plan amid Strait of Hormuz tensions
Europe is moving closer to creating a Suez Canal-style maritime corridor as Turkey advances the £20 billion Istanbul Canal, a project designed to establish a toll-based shipping route linking the ...
News Egypt » Suez » Trade: Egypt: Houthi attacks cut Suez Canal revenue by half
The canal is one of the main sources of foreign currency for Egypt which is gripped by a severe financial crisis. Since November, the Iran-backed Houthis have launched numerous attacks on vessels in ...
News Egypt » Suez » Trade: Egypt picks consortium to draft Suez plan
CAIRO (AP) — Egypt selected a consortium of Egyptian and the Persian Gulf companies Tuesday to develop the government’s mega project to transform the Suez Canal waterway into a hub of international ...
News Egypt » Suez » Trade: Egypt’s Sisi: Suez Canal revenue down as much as 50% over Red Sea attacks
The Suez Canal’s revenue has fallen by up to 50% this year due to attacks by Yemen’s Houthi rebels, Egyptian President Abdel Fattah al-Sisi said on Monday, the latest indication that the turmoil in ...
News Egypt » Suez » Trade: Egypt Studies Plan to Expand Suez Canal to Speed Up Transit Time
Egypt is carrying out a feasibility study on further expanding the Suez Canal in a push to speed up transit times and avert potential blockages in a waterway that carries 12% of global maritime trade.