ICEC

Egypt’s Suez Canal ups profits to $447.1 million in July

Egypt’s Suez Canal profits rose to $447.1 million in July 2017 from $427.2 million in June 2017, the government said on Tuesday.

Revenues earlier jumped by 4.2 percent to $429 million in June 2016.

The canal is the fastest shipping route between Europe and Asia and one of the government’s main sources of foreign currency.

Egypt has been struggling to revive its economy since a 2011 uprising hit tourism and foreign investment.

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